October 2010 Archives

Time
By: Andrew J. Rotherham
October 28, 2010

School integration has vexed policymakers for more than half a century. The Supreme Court ruled in 1954 that schools can't keep kids out based on race. Then in 2007 it ruled that schools can't bring kids together based on race. After the court struck down two race-based integration schemes in Seattle and Louisville, Ky., attention turned to diversifying schools via students' household-income levels. Economic integration, a concept first floated by early public-school crusaders like Horace Mann, is a compelling idea with intuitive appeal: reduce the preponderance of high-poverty schools by spreading poor students around. The idea jumped back into the spotlight this month when the Century Foundation released a new study touting the benefits of economically integrated schools. The glaring problem from a policy perspective, however, is that low-income families tend to live in the same neighborhoods, and dramatically changing housing patterns -- or school-zoning boundaries -- as a large-scale reform measure is impractical.

Michigan State University News
October 28, 2010

EAST LANSING, Mich. -- Students at Michigan State University have developed an interactive online game to help educate people about using credit responsibly.

The Washington Post
By: Heidi Przybyla and John McCormick
October 29, 2010

The Obama administration cut taxes for middle-class Americans, expects to make a profit on the hundreds of billions of dollars spent to rescue Wall Street banks and has overseen an economy that has grown for the past four quarters.

Investing in kids' future pays off

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Physorg.com (SEED)
October 27, 2010

When parents set up long-term savings accounts for college, business start-ups or home ownership, kids feel more financially and emotionally secure, new research shows

Mercer Business Magazine
By: Menta, Harry
October 2010

Valdi Kolasa is flipping over his success. You may even see him doing cartwheels, handstands, forward somersaults, and fly away in his new 25,000 square foot state-of-the-art gymnastics training facility in Hamilton. Kolasa and his wife, Ann, are the owners of Gymland, an instructional and training facility he started for gymnasts in 1995.

The Wall Street Journal
By: Nick Wingfield
October 27, 2010

SEATTLE--A proposed income tax on the wealthy in Washington state is spurring a debate over the region's economic future and dividing some of its most prominent figures, including Microsoft Corp. chief executive Steve Ballmer and William Gates Sr., the father of Microsoft chairman Bill Gates.

The Huffington Post
By: John Harrington
October 27, 2010

Growing up in rural East Texas, I thought I knew what poverty looked like -- I certainly didn't know what it cost. You don't unless you are locked in with few ways out and preyed upon by check cashers, payday lenders, pawnshops and rent-to-own bandits.

The Rich Future Of Money: The Poor

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Forbes
By: Quentin Hardy
October 27, 2010

I have seen the future of money from money, and it is ZestCash. It is one of the Forbes Names You Need to Know for 2011

The Huffington Post
By: Michael Laracy
October 27, 2010

Representative Judy Chu (D-Calif.) discusses the upcoming reauthorization of the Elementary and Secondary Education Act (ESEA), and how it should address the relationship between poverty and education. This piece originally appeared on Spotlight on Poverty and Opportunity, a nonpartisan initiative to promote dialogue and action to reduce poverty and improve economic opportunity.
-- Michael Laracy

As Congress prepares to reauthorize the Elementary and Secondary Education Act (ESEA), it must consider the central relationship between poverty and education.

The Huffington Post
By: Leo Hindery, Jr.
October 26, 2010

"For disadvantaged youth lacking basic education, failure to find a first job or keep it for long can have negative long-term consequences on their career prospects that some experts refer to as 'scarring'. Beyond the negative effects on future wages and employability, long spells of unemployment while young often create permanent scars through the harmful effects on a number of other outcomes, including happiness, job satisfaction and health, many years later."

StarNews (North Carolina)
By: Terry Stoops
October 24, 2010

Nobody ever has accused Gaston College Preparatory charter school in Northampton County of having it easy. Unemployment in its home county exceeds 11 percent. Two-thirds of Gaston Prep's students come from low-income families. Eighty-five percent of its students belong to a racial or ethnic minority group. The public charter school receives approximately $2,000 less per student than the public school district in which it resides.

WLTX (South Carolina)
By: Ashleigh Walters
October 26, 2010

Many teachers use fictional stock portfolios to help students hone math skills, but at the Ariel Community Academy on Chicago's South Side, students have a vested interest in learning, because they are risking real money.

The Huffington Post
By: Robert Teitelman
October 26, 2010

Last week's Bloomberg Businessweek opens with a piece by Drake Bennett on how Americans perceive growing income inequalities. The answer, surprising to Businessweek, is that Americans "broadly" favor "the need for a more equal distribution of wealth," but that they consistently overestimate how equitable American society is -- and by rather striking numbers. "On average, those surveyed estimated that the wealthiest 20 percent of Americans own 59 percent of the nation's wealth; in reality the top quintile owns around 84%. The respondent further estimated that the poorest 20 percent own 3.7 percent, when in reality they own 0.1 percent." A survey of economists also found they got it wrong too, though by less, which establishes some realism to the cries for economic literacy as the solution for our woes.

Bye-bye, tax breaks?

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CNNMoney.com
By: Jeanne Sahadi
October 26, 2010

Who says there's no bipartisanship? Democrats and Republicans running for Congress are finding every way possible to assure voters they will keep Americans' taxes low forever.

The Wall Street Journal
By: Emily Glazer
October 24, 2010

After 20 months without a job, 55-year-old Henry Dietz has nearly drained his 401(k) retirement plan.

San Francisco Chronicle
By: Kathleen Pender
October 26, 2010

Even if Congress extends the Bush-era tax cuts, federal taxes for almost all Americans will go up next year unless Congress extends several Obama-era tax cuts that also expire at the end of this year.

How to Restore the American Dream

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Time
By: Fareed Zakaria
October 21, 2010

The American dream for me, growing up in India in the 1970s, looked something like the opening credits of Dallas. The blockbuster TV series began with a kaleidoscope of big, brassy, sexy images -- tracts of open land, shiny skyscrapers, fancy cars, cowboy businessmen and the very dreamy Victoria Principal. We watched bootlegged copies of the show, passed around on old Betamax cassettes. America (certainly the CBS soap-opera version of America) seemed dazzling and larger than life, especially set against the stagnant backdrop of India in the 1970s. Everyone I knew was fascinated by the U.S., whether they admitted it or not. Politicians who denounced the country by day would go home in the evenings and plot to send their kids to college in "the States."

ThirdAge, Inc.
By ThirdAge News Staff
October 26, 2010

IRA accounts would be automatically contributed to by low0income workers if banking regulator Michael Barr had his way. He said that he believes U.S. banking requires innovative approaches to involve low-income families in mainstream banking services. n a speech at the Corporation for Enterprise Development In Washington, Barr, the assistant secretary for financial institutions at the Treasury Department, said 9 million U.S. families "do not even have a bank account" and millions more were "under-banked."

Reuters
By: Emily Kaiser
October 22, 2010

In 2007, when the world was on the brink of financial crisis, U.S. income inequality hit its highest mark since 1928, just before the Great Depression.

The Washington Post
By: Ylan Q. Mui
October 23, 2010

Lake Braddock Secondary School student Zenat Raza has a problem that an eighth-grader wouldn't expect to encounter for a while: how to budget the $81,085 salary of a 35-year-old single mom with two kids.

Bloomberg Businessweek on MSNBC.com
By Drake Bennett
October 25, 2010

Americans want more equal distribution of wealth, but it's not that simple

"I think when you spread the wealth around, it's good for everybody." So said Barack Obama almost exactly two years ago to an opinionated plumbing company employee named Joe Wurzelbacher.

The Wall Street Journal
By: Sarah E. Needham
October 22, 2010

Kiva, a nonprofit known for helping foreign entrepreneurs receive microloans, is working to broaden its reach to struggling small businesses along the U.S. Gulf Coast.

The Philadelphia Daily News (Pennsylvania)
By: Jan Ransom
October 22, 2010

When 9-year-old Jack Leach walked into a TD Bank in Northeast Philadelphia yesterday with his mother and father, he couldn't understand why there was a mob of folks standing there, smiling at him.

USA TODAY
By: Christine Dugas
October 25, 2010

Recession strips away savings, jobs

A growing number of Americans age 55 and older have put their retirement dreams on hold as they face a dismal financial reality: The recession has forced many into unemployment, stripped away years of their savings or dramatically reduced incomes during what they had hoped would be their final high-earning years.

The Huffington Post
By: Rep. Mike Honda
October 21, 2010

The Republican candidate in my CA-15 district, Scott Kirkland, recently weighed in on the film Waiting for 'Superman', with an assessment about public education that was spot on. Mr. Kirkland observed that the film effectively conveys the core issues in public education and that we must ferret out what is both good for our pocketbooks and, most importantly, good for our kids. I couldn't agree more.

The Associated Press
October 22, 2010

HONOLULU (AP) -- Lillie Gonzales does whatever it takes to provide for three ravenous sons who live under her roof. She grows her own vegetables at home on Kauai, runs her own small business and like a record 42 million other Americans, she relies on food stamps.

Martinsville Bulletin (Virginia)
By: Debbie Hall
October 22, 2010

At Dollars & Sense fair

The expenses of daily life hit home Thursday for local high school seniors as they attempted to deal with budgets, bills and debt at an annual financial literacy fair.

Roth IRAs for Kids

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Smart Money
By: Bill Bischoff
October 21, 2010

Plenty of teenage kids work--it's an American tradition. What isn't so traditional is the notion of kids contributing to their own Roth IRAs. But if your child works, it should be a tradition.

The Washington Post
By: Kristi Tousignant
October 21, 2010

Two Poolesville teen skateboarders are catching more than just big air in their final year of high school.

MSNBC.com
By: Allison Linn
October 21, 2010

Work sometimes pays less than benefits in such a weak job market

You know the economy has become truly screwy when it pays more to collect jobless benefits than to get an actual job.

Fast Company
By: Jenara Nerenberg
October 20, 2010

Kiva announced today--on the one-year anniversary of their entrance into the U.S. market--an aggressive expansion into the Gulf Coast region, funded by a $1 million dollar donation from Visa, and spurred by a new partnership with ACCION Texas-Louisiana. The announcement comes just one month after Kiva, an online global micro-lending site, diversified into higher education loans [1], indicating the San Francisco-based non-profit is doing pretty well.

Credit unions go to school

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Milwaukee News Buzz (Wisconsin)
October 21, 2010

A substantial number of Wisconsin's credit union branches now reside within schools, where they serve as hubs for financial education, encouraging students to save and hiring students as volunteers or paid employees. There are now 109 "youth-operated" branches in the state, making up an impressive 16 percent of all the credit union branches in the state.

One-Note Tax Debate

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The New York Times
October 20, 2010

Several tax cuts are slated to expire at the end of the year, which means that the lame-duck Congress will face several tough decisions come November. To hear campaigning lawmakers tell it, however, the only tax issue out there is whether to extend the Bush-era tax cuts for the rich. The debate and the work can't end there.

There's No Place Like (A New) Home

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Black Enterprise
By: LaToya M. Smith
October 20, 2010

FOR THE HENRY FAMILY, PAYING RENT WAS A no-win situation.

"We had to start building a future for ourselves, for our children, and that starts with owning, not just throwing money out the window with rent," says first-time homebuyer Angela Henry.

The Florida-Times Union
By: Kate Howard
October 21, 2010

Junior Achievement project aids in crucial skill.

Jada Eason is 11, and she knows she already has money troubles.

The Washington Post
By: Eric Gorski
October 20, 2010

-- While U.S. colleges have grown more racially diverse in recent years, minority students - especially Hispanics - still lag behind on key measures of academic progress, a new report says.

Time
By Adam Cohen
October 20, 2010

John Raese, the Republican candidate for Senator in West Virginia, is running against the minimum wage. But he is not just saying it is a bad idea -- he's arguing that it is fundamentally unconstitutional. Joe Miller, the Republican candidate for Senate in Alaska, is saying the same thing.

CBS MoneyWatch.com
By: Dan Kadlec
October 19, 2010

How we teach kids about money is emerging as a national obsession, which has in recent years spawned dozens of think tanks, research groups, academic studies, government initiatives and blogs (like this one). But for all of our good intentions, we've not been able to move the needle on financial know-how.

New America Foundation
By: Molly Carter
October 19, 2010

The asset team's Rachel Black and Reid Cramer's piece, "Can we Afford to Ignore Rising Child Poverty?" which debuted on AOL this week, asks a question that is of utter importance, and especially timely for Californians.

The News Journal (Delaware)
By: Eric Ruth
October 18, 2010

For small businesses, it sure seems like a backward sort of economic recovery.

AOL News
By: Gina Harman
October 19, 2010

While economists, public opinion and the media go back and forth on the recession's status, recent poverty figures in the U.S. remind us of how severely it has already taken its toll. The poverty rate for Hispanics and African-Americans nationally has climbed to more than 25 percent -- approaching levels more characteristic of the developing world than the U.S. As we look to recovery and growth, we need to ensure continuous awareness of, and support for, measures and activities that plant the seeds of an economy of greater equality.

The Seattle Times
By: Bruce Siceloff
October 18, 2010

Nonprofit has found new life and new families for more than 60 discarded dwellings in the past four years.

Wendy and Robby Haun had to sell their home near Cary, N.C., to make way for a state highway project, but the comfortable ranch house did not go to waste.

AOL News
By: Rachel Black and Reid Cramer
October 19, 2010

The official arbiters have spoken: The Great Recession ended in the middle of last year. Unfortunately, this decree seems a bit hollow as new evidence of pervasive hardship continues to appear on a daily basis.

Is It Moral to Soak the Rich?

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The Atlantic
By: Derek Thompson
October 18, 2010

The debate about higher taxes for the rich is a debate about money. But for some people, it's also a debate about morals. The question isn't merely how we should fund our programs, but how we should use the tax code to reflect our sense of fair income distribution.

The New York Times
By: Michael Cooper
October 18, 2010

What if a president cut Americans' income taxes by $116 billion and nobody noticed?

The New York Times
By: Robert H. Frank
October 16, 2010

PEOPLE often remember the past with exaggerated fondness. Sometimes, however, important aspects of life really were better in the old days.

Can Lotteries Help Poor Save More?

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The Wall Street Journal
By: Conor Dougherty
October 15, 2010

"Prize Linked Savings Accounts" -- bank accounts that allow savers to win a cash prize in proportion to how much they save -- could be a good way to get low-income Americans to save more money, according to this recent paper published by the National Bureau of Economic Research.

Los Angeles Times
By: Sharon Bernstein
October 16, 2010

A federal microloan program has $75 million to distribute, bit by bit

More accustomed to allocating money by the million, the federal government is stepping up efforts to make loans as small as a few hundred dollars to some of the nation's tiniest companies.

Valuable lesson

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The Hutchinson News (Kansas)
By: Kevin Hardy
October 16, 2010

It may be a business just for kids, but the Prosperity Savings Branch got the royal treatment Friday morning.

New America Foundation
By: Payal Pathak
October 15, 2010

As a member of the Global Assets Project, I'm always on the lookout for important news and initiatives taking shape on the youth savings front around the world, sometimes overlooking what is happening in our own backyard. But the Foster Youth Financial Security Act caught my attention and CFED is encouraging you to bring it to the attention of your representatives. So why does this bill matter so much? Well, research shows that for vulnerable youth, having access to assets can have powerful impacts on improving livelihoods and as foster youth are particularly vulnerable when entering adulthood, savings can be an important tool in helping them prepare for and adjust to this pivotal transition.

The Christian Science Monitor (CFED)
By David R. Francis
October 18, 2010

While the poor get social programs worth $365 million, the rich get more. Subsidies to help the prosperous build wealth added up to $384 billion last year.

Everybody knows the rich are getting richer, but why they're getting richer remains something of a mystery. Is the system biased?

Time
By: Andrew J. Rotherham
October 14, 2010

Charter schools are all the rage these days. The public is increasingly smitten with them -- in this year's Phi Delta Kappa/Gallup education poll, 68% of respondents said they support charter schools, up from 42% in 2000 -- but few people know what charters are. When the education journal Education Next asked Americans some basic questions this summer about charter schools, such as whether they can charge tuition or hold religious services, fewer than 1 in 5 respondents knew the correct answer (which was no in both cases). The confusion is so pervasive that more than half of the teachers surveyed couldn't answer the questions correctly either.

Waiting for Superbaby

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The Huffington Post
By: Mark Shriver & Jennifer Garner
October 14, 2010

If you have a child under six like each of us do, reading them Baby Bear, Baby Bear, What Do You See?, listening to Mozart or playing Candyland is probably as elemental to your daily child-rearing routine as feeding them carrots or changing their diapers.

The Atlantic
By: Derek Thompson
October 14, 2010

There is no question about whether income inequality is worse today than almost any time in the last century. There is a question about whether we should care.

Kansas City Star (Missouri)
October 13, 2010

Social investors invited to join the effort

A working group of major philanthropic and financial institutions, Investors for Sustainable Communities, has announced an effort to coordinate up to $150 million in investments to build stronger communities grounded in more resilient, regional economies that provide opportunity to all residents and that firmly embrace environmental stewardship.

The Wall Street Journal
By: Dan Fitzpatrick
October 14, 2010

Bank of America Corp. intends to hire 1,000 small-business bankers across the country in the fourth quarter of this year and 2011, a company executive said.

TaxProf Blog (Upside Down)
By: Paul L. Caron
October 13, 2010

Washington Post editorial, The Current U.S. Tax System Is Tilted Toward the Haves:
If you were spending $400 billion a year on social programs, would you give half of that to the wealthiest 5% of Americans? We didn't think so. But that is the perverse result of the stealthy spending conducted through the federal tax code. The code is salted with "tax expenditures" -- programs, many worthy, designed to promote policies from homeownership to education to retirement savings. There are two problems with this approach.

Havre Daily News
By: Karen Heisler
October 13, 2010

Editor:

In all the discussion about federal spending, we have overlooked the tax side which remains opaque and unaccountable. As the National Commission on Fiscal and Responsibility gets closer to releasing its report, we must look at how the nation subsidizes individual's wealth building through revenue foregone.

Golden Gate [X]press
By: Chase S. Kmec
October 12, 2010

Kindergartners in San Francisco received a unique gift from Mayor Gavin Newsom, city supervisors and several philanthropic organizations with the launch of Kindergarten to College Oct. 5 at Sanchez Elementary School.

The Washington Post
By: Lori Montgomery
October 13, 2010

For months, President Obama has stressed the budgetary rewards of eliminating tax breaks for the wealthy. But many Democrats see a more fundamental reason to let the Bush-era tax cuts expire in January: narrowing the growing divide between the rich and everyone else.

Living without a bank account

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Wallet Pop
By: Geoff Williams
October 13, 2010

There's a troubling trend in this nation: People are giving up their banks.

St. Louis Post-Dispatch (Upside Down)
October 12, 2010

Over the next two weeks, this page will make its recommendations on candidates and issues on the Nov. 2 election ballot. Before that process begins, we'd like to offer a preface.

Northfield News (Minnesota)
By: David Henke
October 12, 2010

The last thing Bill and Cari McGeough needed was a personal disaster, but that's what they got when the roof of their 40-year-old manufactured home collapsed in during a downpour this summer.

Tech Crunch
By: Leena Rao
October 13, 2010

With more than 60 million Americans considered "underbanked," meaning they have no access to credit or conventional banks, there have been a plethora of companies that have emerged to help better serve this community through technology. GreenDot, PayNearMe and others all offer banking options to the underbanked. Today, former Google CIO and VP of engineering Douglas Merrill is launching a new product today, called ZestCash, to serve the underbanked that aims to legitimize the payday loan industry.

Wal-Mart's Foray Into Banking

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The Epoch Times
By: Heide B. Malhotra
October 12, 2010

A bank for the 'unbanked' and the 'underbanked'

America is a land of opportunities, where companies find new ways of luring the consumer through their doors.

Daily Town Talk (Louisiana)
By: Jeff Mathews
October 10, 2010

A rule by the U.S. Small Business Administration to boost opportunities for small businesses owned by women was finalized this week.

The New America Foundation
By: Justin King
October 11, 2010

"If you were spending $400 billion a year on social programs, would you give half of that to the wealthiest 5 percent of Americans? We didn't think so. But that is the perverse result of the stealthy spending conducted through the federal tax code."

How to Make Everything From Nothing

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The Huffington Post
By: Jonathan Lewis
October 11, 2010

Five years ago, MicroCredit Enterprises was born. Simple in conception, difficult to birth, and now wonderfully successful at reducing poverty for some of the poorest people in the world.

Buying themselves a job

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The San Diego Union-Tribune (California)
By: Tanya Mannes
October 12, 2010

As high-level corporate jobs dry up, some executives are embracing the idea of trading rush-hour traffic and hectic schedules -- as well as steady paychecks -- for a chance to be their own boss.

Habitat hammers away on homes

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The Denver Post (Colorado)
By: Joey Bunch
October 11, 2010

Sherita Brown dragged her slender fingers lightly along the white wall of her new home, as she led a procession of family members through for the first time Sunday afternoon.

Real-life lessons humble students

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The Atlanta Journal-Constitution
By: Rana Cash
October 12, 2010

It took maybe 10 minutes for the students to come down to Earth.

The Greenville News (South Carolina)
By: Angelia Davis
October 10, 2010

A West Greenville neighborhood that Marilyn Stephens at one time would never drive through at night has become the place where she joyfully resides.

New Home, No Money Down

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The Boston Globe
By: Jenifer B. McKim
October 11, 2010

Amid criticism, zero-down-payment mortgages still available

Jean Marie Sideris doubted she could buy a home near her job in Cambridge, because most lenders now insist on a hefty down payment for even a modest mortgage, and she did not have that much cash. But that was before Sideris, 33, found out about a state-sponsored program that requires only $1,000 toward closing costs.

The cost of being unbanked

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Reuters
By: Felix Salmon
October 8, 2010

Candice Choi has a great first-person story about the cost of not having a bank account. She gave up her account for a month, to experience the inconvenience and expense of being unbanked at first hand.

Foreclosure Bill Is Blocked

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The Wall Street Journal
By: Damian Paletta
October 8, 2010

Obama Plans His First Significant Veto Amid a Debacle Over Banks'
President Barack Obama plans to veto a bill whose opponents say would make it harder for homeowners to stop foreclosures.

MSNBC.com
By: Bloomberg Businessweek
October 7, 2010

Hoping to help save the Democratic majorities in November, the administration is stressing fairness in tax cuts

President Barack Obama has shifted his central argument against the Bush-era tax cuts to make the income gap as much a voter concern as the budget gap.

Bluefield Daily Telegraph (West Virginia)
By: Kate Coil
October 7, 2010

Students at Princeton High School learned the value of a dollar and an education during the "Get A Life" program Wednesday morning, an activity designed to teach them a lesson about how things work in the real world.

The New York Times
By: The Associated Press
October 7, 2010

Applications for unemployment benefits fell last week for the fourth time in five weeks, a sign of declining layoffs.

Chicago Tribune
By: Eileen Ambrose
October 07, 2010

Most of us are familiar with the food pyramid, the government's guideline for healthful eating. Now, imagine a "money pyramid" for healthy finances.

USA TODAY
By: Christine Dugas
October 8, 2010

Since the real estate bubble burst, the American dream of homeownership has fizzled.

Great Falls Tribune (Montana)
By: Carrie Koppy
October 3, 2010

Even women acknowledge it is hard to agree on what women want, because individuals are unique and their interests run broad and deep.

The Gazette (Maryland)
By: Virginia Terhune
October 7, 2010

Program that started in 2007 now available at more than 20 county schools

Getting in the habit of regularly putting money aside in a savings account is something that Drewana Bey wanted her 11-year-old son to learn early in life.

The Wall Street Journal
By: Emily Maltby
October 6, 2010

Small-business lending still hasn't bounced back to pre-recession levels. But despite a rocky year, the number of loans backed by the Small Business Administration jumped about 30% in 2010.

At Small Businesses, Hiring Slips

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The Wall Street Journal
By: Sarah E. Needleman
October 7, 2010

Hiring momentum among small businesses reversed course last month following eight months of modest growth, a national report released Wednesday shows.

MyBankTracker.com
October 6, 2010

Don't have a credit card? Not a problem. That's the mantra of PayNearMe, a service that makes it easier for consumers to make cash purchases remotely.
The service, put on display this week at Finovate in New York, aims to give unbanked or underbanked consumers better access to e-commerce purchases, money transfers, telephone orders and other transactions at retail centers. PayNearMe also could benefit businesses by granting them access to a previously underutilized customer base.

Bloomberg
By Prashant Gopal
October 6, 2010

Google Inc., Kroger Co. and Waste Management Inc. are investing in low-income rental housing as companies are lured to a field long dominated by financial firms with returns that have doubled to almost 10 percent since 2006.

The Washington Post
By: Steven Pearlstein
October 6, 2010

Although much of the Republicans' "Pledge to America" is given over to a discussion of economic issues, there is one topic that is never mentioned: the dramatic rise in income inequality. As with global warming, Republicans seem to have decided that the best way to deal with this fundamental challenge is to deny it exists.

The Wall Street Journal
By: Darrell A. Hughes
October 6, 2010

Bank of America Corp. said Wednesday it has issued 40 grants totaling more than $3.7 million to nonprofit organizations that lend to small and rural businesses.

The San Francisco Chronicle
By: John Coté
October 5, 2010

Ingrid Lopez just started kindergarten at San Francisco's Sanchez Elementary School, but she already has big plans.

Business Wire
October 5, 2010

San Francisco is first city in the nation to launch college savings program for all public school kindergartners

Mayor Gavin Newsom today joined San Francisco leaders to announce the launch of Kindergarten to College (K2C), the nation's first universal children's savings account program, designed to put all children on the path to college. The City will open a savings account with an initial seed deposit for every kindergartner entering public school.

New America Foundation

By: Rachel Black
October 4, 2010

As we've noted over the past few weeks, Census has released figures about the state of family finances in 2009, and it hasn't been good. Household income dropped about $1,500. 1 in 5 kids lived in families making less that the federal poverty line, about $21,756 for families with two parents and two children. Looking ahead to next year, these numbers will likely get worse. While the shear scope of this hardship is daunting, there are some specific, immediate things we can do to help. Addressing the 2009 Assets Learning Conference organized by our colleagues at CFED, Michael Barr, Assistant Secretary for Financial Institutions at the Treasury Department, said that increasing savings is a critical part of helping families rebuild their balance sheets and gain financial security.

The Washington Post
By: Mark S. Smith
October 5, 2010

Intending to talk about colleges and worker training, President Obama on Monday suddenly found himself in a spirited election-year debate with a business advisory group about whose tax cuts should be extended and for how long.

Denver Business Journal
By: Mark Harden
October 4, 2010

The city of Denver is joining with Colorado banks and credit unions in a new effort to promote bank services for "underbanked" workers.

Buffalo News (New York)
By: Emma D. Sapong
October 3, 2010

Community Child Care Clearinghouse offers helping hand to business-minded providers

When Karrie Smith gave birth to her son, an impending financial conundrum eclipsed the joys of motherhood.

Murray Ledger & Times (Kentucky)
By: Constance Alexander
October 5, 2010

Julie Holder admitted she was nervous, but her steady voice and unwavering gaze belied the fact. She stood at the podium and told her story with unflinching honesty because she had been asked to share her experiences as a member of an often ignored and sometimes maligned portion of the population, the working poor.

NPR
By: Corey Dade
September 30, 2010

As they struggle to cope with a chronically weak economy that's falling well short of replacing the 8.5 million jobs lost since 2007, a rapidly growing number of American adults are moving in with relatives in the hope of avoiding financial ruin.

When home has no place to park

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The New York Times
By: Ian Lovett
October 3, 2010

LOS ANGELES -- Every day, Diane Butler and her husband park their two hand-painted R.V.'s in a lot at the edge of Venice Beach here, alongside dozens of other rickety, rusted campers from the 1970s and '80s. During the day, she sells her artwork on the boardwalk. When the parking lot closes at sunset, she and the other R.V.-dwellers drive a quarter-mile inland to find somewhere on the street to park for the night.

The Kansas City Star (Kansas)
By: Joe Robertson
October 3, 2010

By name, it's a laboratory.

Cincinnati.com
By: Alexander Coolidge
October 4, 2010

Students in kindergarten through 12th grade are signing up this fall to compete in a battle to prove who is the most financially savvy.

The Times of Trenton (New Jersey)
By: Rich Bockmann
October 3, 2010

As part of a comprehensive project to teach students financial literacy, Lawrence High School opened an on-campus bank during a ribbon-cutting ceremony Thursday night.

The Huffington Post
By: John Taylor
October 1, 2010

If Washington is serious about addressing job creation, the White House and Congress should support the expansion of a 33-year-old law, the Community Reinvestment Act (CRA), legislation that has invested over a trillion dollars into our economy during the past decade.

The Associated Press
By: Jim Fitzgerald & Vicki Smith
October 2, 2010

A Wall Street adviser leaves early for work to avoid panhandlers at his suburban train station. In coal country, a suddenly homeless man watches from a bench as wealthy women shop for dresses. A down-and-out waitress sits glumly on her stoop across the street from a gleaming suburb. A freshly elected politician loses his day job.

CNNmoney.com
By: Chris Isidore
October 1, 2010

Would you like a 6% raise in your next paycheck? Some economists want to give you one -- in the form of a payroll tax holiday -- to stimulate the struggling economy.

The Working Group on Extreme Inequality
By: Sam Pizzigati
September 30, 2010

The federal government, right-wingers insist, is going crazy sharing the nation's wealth. In fact, eye-opening new research documents, Uncle Sam isn't sharing the nation's wealth. He's concentrating it.
Scroll through the right-wing blogosphere, or listen in at a Tea Party rally, and you'll find angry people ranting about an out-of-control federal government that's redistributing the nation's wealth to the undeserving poor.

The Indianapolis Star
By: Zoe Sandvig Erler
September 30, 2010

Last fall, Corey Rutland and Tess Ireland started out with just $400 and a dream.

Now, they own the bustling Roll With It Bakery at 5539 E. Washington St., one of the latest additions to Irvington's up-and-coming streetscape.

USA TODAY
By Rhonda Abrams
October 1, 2010

After fighting all summer, Congress and President Obama did the right thing and passed the Small Business Jobs and Credit Act. The biggest provision -- a $30 billion loan -- gets the most attention, but there's actually a lot that can help you. Yes -- I mean you-- if you run a small business or are self-employed. Just be sure to check with your accountant.
What are the key provisions and what do they mean for you?

Fast Company
By: Dan Macsai
October 1, 2010

The LearnVest team is adopting ideas from the likes of Weight Watchers and DailyCandy to help young women improve their fiscal fitness.

In major U.S. cities, women in their twenties are out-earning their male counterparts -- the gap is as much as 17% in New York and 20% in Dallas. And yet, when dealing with money musts such as staying out of debt and planning for retirement, many young women have no idea where to start. This scenario hits home for Alexa von Tobel, 26. "There I was, about to start working at Morgan Stanley," says the Harvard graduate, "and I still felt uncomfortable about my own finances."

The Chicago Tribune
By: Humberto Cruz
October 1, 2010

In promoting the online educational game "Financial Football" from Visa and the National Football League, New Orleans Saints quarterback Drew Brees has told of money lessons learned the hard way. The Super Bowl Most Valuable Player amassed a dozen credit cards while in college and neglected to pay his cell-phone bill for "quite a while," mistakes that hurt his credit score and raised the interest rate he paid on his first mortgage.

CNNMoney.com
By Jennifer Liberto
September 30, 2010

Fed Chairman Ben Bernanke told a crowd of schoolteachers in Washington Thursday they can help prevent the next big financial crisis by teaching students personal finance basics of saving and budgeting.

The Associated Press
By: Dorie Turner
September 29, 2010

Groups hoping to open charter schools across the country could soon have millions more dollars available.

Real Estate Journal Online
October 1, 2010

The federal home buyer's credit may have been canceled last April, shattering the dreams of many who wish to own a home for the first time. The Federal Housing Administration, though, comes to the rescue and gives them hope. With FHA loans, which are originally meant for purchasing or refinancing owner-occupied residential properties, manufactured homes, and condominiums, can also be utilized to purchase your first home.

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