You hear about inflation all of the time, yet many do not understand what it is or how it is measured. The definition of inflation is the rate at which the price level of goods and services rise. Historically, inflation has averaged around 4% per year. This means that something that costs $1.00 today will [...]
Over the last few years, people have decreased their spending habits dramatically. The American Consumer went from a Personal Savings Rate of 1.2% in July 2008 to 5.0% in July 2011. Many industries saw their lowest sales figures of all time during the last three years, such as new car purchases, restaurants, and construction. An [...]
Banks are rolling out new debit card fees. I never was a big fan of debit cards (and favor credit cards instead), but I know many of you swear by debit cards, so let’s start brainstorming! Beginning in 2012, Bank of America will charge $5 per month for debit card use. In addition, Chase and [...]
You all may remember when Madison hosted a writing contest here at My Dollar Plan in order to find staff writers for her site two years ago. I was one of the winners with my post The Automatic Poorhouse, where I detail how my husband and I self-inflict living paycheck to paycheck because I automate [...]
My dad is finally embracing technology. He recently got his first computer and now he’s in the market for a cell phone. And of course after holding out for 60 years, he not only wants a cell phone, but a smartphone. Way to go dad! I searched for the cheapest way to get him on [...]
