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This holiday season, shoppers are expected to spend a whopping $1.6 billion on extended warranties for laptops, flat-screen TVs, other electronics, and appliances. And almost all of it will be money down the drain. Retailers are pushing hard to get you to buy extended warranties, or service plans, because they're cash cows. Stores keep 50 percent or more of what they charge for warranties. That's more than they can make selling actual products.
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Maybe you're nervous about the financial markets and looking to start small. Maybe you're aiming to help your children or grandchildren make their first investment. Maybe you're just out of college, with precious little cash to spare. True, many brokerage firms and mutual funds now demand $2,000 or $3,000 to open an account. But you can get started with far less.
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You've got the sheepskin in hand, a decent job, an apartment, and a "serious" sweetie. Congratulations. That maturity gene is finally kicking in. Now you've got to navigate the road to financial success. Without a good map, you could career along, ignoring costly warning signals while seriously dinging your economic stability.
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Q. Where can I find a worksheet to help me with my budgeting? A. There are plenty online. Here are a few sources which offer worksheets: Kiplinger.com budgeting worksheet Houseclicks worksheet (there are four pages -- click over to the other three) State of Vermont Department of Education and Training worksheet The Department of Education -- aimed at students and new ex-students About.com's Budget Zone
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Judging by the blast of e-mails that greeted my last column, many people are thinking about the U.S. savings rate. Some agree that Americans are overleveraged and saving too little. Others argue vociferously that the government's calculation is outdated and inadequate, and the savings rate is actually higher than it appears.
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A survey last year by FindLaw.com found that 61% of Americans surveyed either don't have or don't stick to their budget. Slackers? Hardly. Have you ever tried to stick to a budget? If you have or haven't (hey, no one's judging here), read on for a streamlined cash flow control plan that even couch potatoes like me can follow. Cash flow crash course Our Couch Potato Budget concentrates on everyday spending. We're leaving out housing, insurance, and the all-important savings categories for now.
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Turns out money really does burn a hole in our pockets. In fact, according to a recent study by Visa USA, nearly half of all Americans "lose" $2,340 in cash each year. And 48% of those who use cash said they don't know what happened to more than one-third of it -- or about $45 of every $120 spent in a typical week. The money's not actually misplaced, just inexplicably frittered away. Wayne Best, senior vice president at Visa, calls it "mystery spending."
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Few people strive to be just average. But when it comes to inflation, some folks would jump at the chance. In late 2007, consumer prices were up an average of 2.8% nationwide over the preceding 12 months. That's not much. So why is it so painful every time you go to the grocery store? Probably it's because your personal consumer price index diverges from the national average.
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United Rentals Wants $100 Million After Deal Falls Through GREENWICH, Conn. (AP) -- Cerberus Capital Management L.P. agreed Monday to pay United Rentals Inc. a $100 million breakup fee for dropping its $4 billion purchase of the equipment-rental company. Cerberus agreed to pay the fee after a Delaware court ruled the private equity firm was allowed to scrap the takeover, which it abandoned last month.
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The British Are Coming! and the Nepalese and the Venezuelans - to Buy in US Housing Market NEW YORK (AP) -- Panden Rota, a Nepalese producer of fine rugs, is about to become a Manhattanite, the owner of a sumptuous apartment in the luxurious downtown neighborhood of Battery Park City. His primary residence will remain Katmandu, but his new home will allow him to spend more time at U.S. showrooms that display his rugs and with a brother and sister in New York. "I looked at many places and I decided that a Manhattan apartment will always hold its value," he said.
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