"For this reason a man will leave his father and mother and be united to his wife, and they will become one flesh." - Genesis 2:24

Secular personal finance writers seem convinced that married couples are best served by maintaining separate checking accounts. Such advice has been promoted everywhere from the Wall Street Journal to Money magazine to Dr. Phil. And the advice is having an impact. Today, about half of all married couples use separate checking accounts—up from 38 percent in 2001. Read more...

News You Can Use

Credit Card Fees Head North
The penalty for a late credit card payment now averages $28—up slightly from 2005, but more than twice the average charged in 1995. And, as reported by the Associated Press, the credit card average interest rate is now 14.53 percent—up from 12.61 percent two years ago. Read more...

The Credit Repair Myth
Credit "repair" has become all the rage. Do an internet search on that phrase and you'll find plenty of companies offering to fix people's bad credit, most of which are operating outside the law, according to the Federal Trade Commission. As reported in the LA Times, the FTC has gone after 70 such companies. Most of the targeted companies were making outlandish claims about their ability to erase people's credit score black marks. But it's also illegal for such companies to charge fees before any work is performed. Read more...

Home Equity Loan Pitches on the Rise
For the first time since 1999, the total balance of home-equity loans and lines of credit loans has declined. That's why lenders have been inundating homeowners with promotions for such loans. And, according to an article in the Chicago Tribune, the latest pitches include various incentives. One lender is offering extended warranty coverage on appliances purchased with borrowed money. Another lender will make a $100 donation to an environmental non-profit organization when customers spend at least $2,500 from their home equity line of credit. Read more...

Avoiding an "E-Waste Tsunami"
An upcoming change in how television signals are transmitted is leading some to predict big problems for the environment. Beginning February 18, 2009 all TV stations will be required to broadcast their programming in a digital format. In order to pick up TV station signals, owners of analog sets will have to subscribe to cable or satellite services or buy a digital converter. Some industry observers fear that many analog TVs will end up in the trash, posing significant environmental threats because of their lead-encased picture tubes and other hazardous materials. Read more...

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