1. List all of your credit card accounts: Make a list of your credit card accounts, jotting down your current balance, the minimum payment, and the interest rate. When I did this my list followed this format: BOA Visa – $2,500 – $75 – 9.99%. (16 seconds)
2. Figure out which order you want to pay them off in: Next, decide what order you want to pay your credit cards off in. Either order it by starting with the lowest balance, or by starting with the highest interest rate. Paying of the high interest card will save you money in the long run, but there is something to be said for the emotional boost that comes from starting with the lowest balance and paying something of quickly. (7 seconds)
3. Decide how much you can pay toward debt reduction each month: Review your monthly budget, including expenses. This can be done quite quickly if you have personal finance software, or use a web app. Figur

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These days in the financial press, we often see comments about the odds of peripheral euro zone countries defaulting on their debts. The default swap market is used as a reliable source of information about those odds. Though, reader should be aware that common practice is to assume a recovery rate of 40% on defaulted bonds. This is roughly in line with historical data compiled by Moody’s on estimated recovery rate per bond by the market 30 days after default.

However, as today’s Hot charts shows, this average is derived from a distribution that is far from normal. It is skewed downward by the very large number of defaulted bonds issued by Argentina. On the other hand, if we calculate the average recovery rate per issuer, the average obtained is much higher at 56%. In the case of advanced countries, we think that the recovery rate could be even higher (see this weekly economic letter for more details).
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US durable goods orders rose a slightly more-than-expected 2.5% m/m sa to $208.4 billion in March, a third consecutive monthly rise, after an upwardly revised 0.7% m/m advance in February, according to figures from the Commerce Department. The March rise was led by motor vehicles, industrial machinery, and primary metals. Excluding transportation, durable goods orders grew for a second month in March, gaining a less-than-expected 1.3% m/m sa to $153.7 billion, following an upwardly revised 0.6% m/m increase in the prior month. Durable goods orders climbed 12.2% y/y nsa in March; ex-transportation orders rose 7.0% y/y nsa. Shipments of non-defense capital goods excluding aircraft, used in calculating GDP, advanced 2.2% m/m in March after a downwardly revised 0.4% m/m increase in February. 

Looking for alternativesFind the best CD IRA yield

Most people think of stocks, bonds, mutual funds and the like when deciding where to invest their individual retirement account, or IRA, funds. But you have many other choices.

You might want to try a nontraditional approach with at least some of your IRA assets. Saving for retirement can be done via a number of unusual investments, including real estate or a closely held business. Likewise, a physical stash of gold coins may appeal to you if you worry about financial calamity or runaway inflation.

I’m a big fan of the road trip. Whether we’re just going up to my parents’ for a couple of days, or planning something more substantial, I just like being on the road. It’s fun to see new things, and visit interesting places. However, with rising gas prices, hotel costs and the expenses associated with eating out while on the road, the cost of a road trip can quickly add up. And that doesn’t include admissions to some of the attractions you might want to visit along the way.

Of course, like so many other things in life, you can save a little money if you do some planning. If you have a general idea of your route, and what you would like to do, you can create a plan that will cost a little less than you might think. Here are some general ideas for saving money on your next road trip:

Look for Discounts

The first thing you should do is look for discounts. If you will be going through a major city, CityPASS is a great option. You can s

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Before the Great Recession, when unemployment was at record lows and home equity levels and stock markets were at record highs, emergency funds were often put on the financial back burner. For many households, six weeks’ to three months’ worth of living expenses seemed adequate.

But the downturn showed how shortsighted that view could be. Today, the job market is recovering very slowly. And some 6 million Americans are considered long-term unemployed — meaning no work for six months or more — while another 2.4 million are considered marginally attached to the labor force, according to the Bureau of Labor Statistics. Many families likely went through their rainy day fund long before their financial clouds cleared.

A dry emergency fund can lead to excessive borrowing, family stress and possibly the liquidation of long-term investments like those put away for retirement or college costs. So consumers like Delbe Meelhuysen, a Texas physician with aging parents and three kids in college, are swearing to be better prepared next time.

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