American Socialist Voter

Sunday, 15 March 2009   READ THE WHOLE STORY AT YAHOO FINANCE

"One possibility is that this is yet another attempt by card issuers to get consumers to close their accounts (while bringing in a little fee income in the short term), says Dennis Moroney, research director and senior analyst for consulting firm Tower Group. "I can't rationalize in my mind what other motivation there would be," he says."

Paul Pensabene of Saratoga Springs, N.Y., received a statement from HSBC on Dec. 8 that said he had a $359.99 balance and remaining available credit of $8,640. But when he went online to pay the bill several days later, his online account showed that same balance put him over his newly-reduced credit line of $300. And that didn't include the $35 over-limit fee. Pensabene grappled with customer service until they agreed to remove the fee, and then paid the balance in full. "All I could think was, 'Good lord, what if this is happening to someone that couldn't pay their balance off in one shot?'" he says. "They'd end up in default with these fees piling up."

This material is for informational purposes. Consider your own financial circumstances carefully before making a decision and consult with your tax, legal, estate planner, or other type of professional as needed to make well informed and personal matches to your unique concerns and perceived outcomes.

Latin word fiscalis - relating to financial matters.

Keywords for additional understanding: capitalize, endow, finance, monetary, pecuniary, economic.

Ancient connotations: pocket, basket, treasury.

Are you feeding your pig?

The new ideal as an actual Socialist is to democratically by the wallet force capitalism to the class level of the Workers' reality - on its knees - whereas the cost will not strip away human dignity. When capital is down then can the people look into its eyes, "we told you so."

Hold those bankers and bosses to your wallet's ability and not their greed and gluttony.

These % are based on "net" income (take home pay after taxes and other deductions)

• Home cost should not be more than --- 28%
  • utilities
  • maintenance
  • taxes
  • insurance ------------------------------- 7%
• Savings -------------------------------------------- 10%  (long term cost)
• Transportation ----------------------------------15%
  • auto loan
  • fuel
  • up keep
  • parking
  • taxis/bus
  • insurance
• Loans --------------------------------------------- 15%
  • student
  • credit cards
  • personal
  • other
• Basics -------------------------------------------- 25% 
  • clothes
  • travel
  • vacation
  • health-care
  • fun

For workers this should be a no brainer. We all need a few basics just to know we are doing more than existing such as food, shelter, and safety.

Question: What is the average cost of a home in your area?

Now based on this information, which can be found by looking over many different sources, we look to see our total cost should not exceed 35% being - the 28% for the home/rent payment plus the 7% for other cost involved. Now when you look at your paycheck what is 35%?  That is your new for better or worse cost as a worker you can afford. If this is not enough then think about several options.

1. Are you going to be able to get a raise?
2. Are there better jobs?
3. Can the education level be attained?
4. Where is the nearest union hall?
5. Self-employment?

Question: Do I really need to save?

Yes! There are plenty of reasons for this. The most recalled % amount seems to be ten. The reason for this goes way back to tithing and time, but for this it today isn't important. What is important is the dollar cost averaging of hold funds over time and to place it spread out in many baskets (funds) to minimize risk.

At first - based on many aired comments by professionals - save the 10% in cash until reaching a savings point to meet an emergency need of six to nine months (personal comfort zone) of income replacement due to job loss or other emergency.