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More people are dealing with financial disparity amongst siblings. Yes. A lot of middle-aged adults are familiar with the  “sandwich generation” conundrum—partially supporting both their kids and their parents, but what about when the turkey in the sandwich wants some cheese?  In addition to getting hit up from the younger and older generations, some people […]

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WASHINGTON — One of the first things I do when I'm about to purchase a product or service is check the Internet for information. I'm particularly interested in getting help from companies that make my research easier by rating a product or company. But a recent action taken by the Federal Trade Commission is yet […]

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What tax tips do you have for the unemployed? The current unemployment rate is 8.3%. So first, remember that you’re not alone. And when tax time comes around, make sure you take all the possible deductions. If you are looking for a job, you can deduct expenses like resume preparation, headhunters, postage and gas mileage. […]

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Quiet as it’s kept, black people are among the nation’s most generous givers. According to a recent study by the W.K. Kellogg Foundation and Rockefeller Philanthropy Advisors, black donors give away a quarter more of their incomes than do white donors. Also, according to the report, nearly two-thirds of black households make charitable donations worth […]

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WASHINGTON — Jacquelyn Atchley isn't bitter. At least not anymore. But the 73-year-old retired Oklahoma resident certainly has the right to be angry. She lost $180,000 — all of her retirement savings — in a Ponzi scheme. A fellow Oklahoman, Brian McKye, defrauded 80 investors, many of them elderly, out of about $6 million, said […]

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Click here to hear Tom Joyner interview Barbara Floyd-Jones of NeighborWorks. — If you’re like most people, you think you could never get scammed. Thousands of people were scammed in 2011, and of that, close to 11,000 reported being scammed while trying to get a loan modification or save their home from foreclosure. Many people […]

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What advice can you give about wedding costs? Weddings are astronomical these days! I think a lot of people fall into the trap of thinking “anything goes” in pursuit of that “perfect” day and end up spending way more than they can actually afford. The average wedding costs nearly $27,000. Compare that to the median […]

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WASHINGTON — A government survey shows about 821,000 U.S. households lost access to basic banking services between January 2009 and June 2011. Roughly 10 million U.S. households, or 8.2 percent, have no access to bank accounts, according to a survey conducted by the Federal Deposit Insurance Corp. That's up from 7.7 percent in the FDIC's […]

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Do you have any new ideas for how to teach saving and investing to our kids? Mellody: It is still stunning to me that stock market fundamentals—actually, even the basics of saving and investing—are not taught in schools. That means the onus lies on parents to teach their kids. One fun way to get started […]

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WASHINGTON — In proclaiming the first Sunday after Labor Day as National Grandparents Day, President Jimmy Carter said that our grandparents "bore the hardships and made the sacrifices that produced much of the progress and comfort we enjoy today. It is appropriate, therefore, that as individuals and as a nation, that we salute our grandparents […]

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A child’s clean credit is a prime target for identity thieves. Criminals can pair a child’s Social Security number to another name and birth date and then rack up debt, get ID so they can work illegally or cover up their own bad credit history. In a 2011 study by the Carnegie Mellon University CyLab, […]

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What can you tell consumers about the outlook for gas prices? Mellody: I wish I had better news for you. In prior years, Fall marked a time when prices trended downward because people were finished with their summer travel and staying closer to home, but speculation in oil futures is driving the price of gas […]