Southwest Airlines Pilot?s Tiff With TSA Agent Escalates Until Cops Make Everyone Chill Out

swestsignmbNo, you aren't the only one who gets annoyed with the Transportation Security Administration (in fact, 81% of those who responded to our recent poll aren't fans) ? even pilots get fed up from time to time, including one of Southwest Airlines' very own who was so peeved at a "condescending" agent at New Hampshire's [...]

Source: http://consumerist.com/2012/08/southwest-airlines-pilots-tiff-with-tsa-agent-escalates-until-cops-make-everyone-chill-out.html

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The Upper Middle-Class Have No One But Themselves To Blame For Student Debt

Cocktail, rich kids

When it comes to paying for college, upper-middle-class families often get the worst of all possible worlds. They're not wealthy enough to treat the cost of tuition as an afterthought. They're not needy enough to qualify for big discounts. But they're often status conscious enough to pay whatever's necessary for their kids to attend an elite college. 

And so somewhat unsurprisingly, the Wall Street Journal has found that in this age of rising student debt, its risen most of late among the upper-middle class. Between 2007 and 2010, the percentage of households taking out loans to pay for college grew fastest within the group earning between $94,535 and $205,335 a year. 

WSJ_Upper_Middle_Class.jpg

As someone who grew up in what the WSJ would describe as a solidly upper-middle-class family and attended a private university, I'm the first to admit that this is probably not a first-order public policy problem. But the phenomenon does provide a window into why private colleges have been able to raise their tuition at such extraordinary rates over recent years. 

In a sense, this is a tragedy of the (university) commons -- the phenomenon where the rational behavior of an individual can create problems when repeated over and over by a group. It's entirely reasonable for well-off families (we're talking about households within the 80th-to-95th percentile here) to try to send their children somewhere with ivy on the walls, even if it means taking out a bit of debt to do it. Researchers have found that, even though it's certainly not the only factor that counts, where you go to college really does seem to matter when it comes to future earnings. By paying up for prestige, parents are doing what's right for their sons and daughters, who may well make back the extra investment over the course of their careers.  

Problem is, it's not just one family making that choice. In recent years, elite colleges have pursued what George Washington University President Emeritus Stephen Trachtenberg has called a "high tuition, high discount rate" model. Schools charge the rich families more, then use the proceeds to slash costs for the poorer students by handing them grants. In terms of income, most of these upper-middle-class families fall into the top quartile of college attendees. Without their large tuition checks, the discount system wouldn't work. And the more they've been willing to pay, the more college administrators have been willing to raise rates, so they can spread money elsewhere. 

By chasing prestige over price, the upper-middle class has also helped encourage the so-called arms race mentality among elite schools, which have piled on expensive amenities and services, along with administrators to run them. If semi-privileged families, and their academically accomplished children, were more cost conscious, you'd likely see somewhat different behavior from the colleges. But so far, the signal from parents and students has been that, when it comes to campus life, more is more. 

This all stops one of three ways. Upper-middle-class families could start getting priced out of top schools, at which point it would be in the best interest of the colleges to tamp down on tuition. There could be a cultural shift, wherein they just decide to avoid debt and start bargain hunting. Or college administrators make an executive decision to slow down their rate hikes. 

If anything, I'd bet on the latter. As the WSJ notes, these families are only spending about 3 percent of their incomes making debt payments. My guess is most of them are still willing to pay more. 

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Build Credit Without Credit: Your Top 3 Questions Answered

Some people seem to believe that the credit score is almost as important as oxygen and water. Most of that stems from the fact that we?ve been beaten over the head with the importance of the credit score since we first learned the difference between a $10 bill and a $5 bill.

But it?s simply not true. Can you really live without a credit score? Absolutely?and it?s actually easier than you?d think. It just takes some foresight, planning and maybe a little patience.

The credit score myth is tangled up in almost every part of our financial lives, but there are a few areas that seem to come up over and over again. So, here are the top three questions we get about how to live without a credit score:

How do I rent an apartment?

Most apartments will work with you if you can provide first and last month?s rent, as well as a security deposit. Ask them up front about their process and what type of information they?ll need. If they want a credit score and you don?t have one, simply tell them that you?ve never gone into debt and you use cash. Get a rental history referral from your previous landlord. If it?s your first time renting, you might have to look around for a little bit. But you?ll be able to find someone to work with you.

How do I take out a mortgage?

If you don?t have a credit score, you should focus on one thing?making sure you have a large down payment. If you?ve never gone into debt, that shouldn?t be too difficult, right? Without a credit score, the down payment, as well as your job and how long you?ve been employed in that line of work, are big factors.

You?ll also want an outstanding history of rental and utility payments. Look for a mortgage company that uses a process called manual underwriting, sometimes called ?non-traditional credit? or ?no credit score? lending. And whatever you do, don?t buy a house until you?re ready. That means you?re out of debt, you have a 3?6-month emergency fund, and you have a good down payment. Of course, you could always just pay cash for a house!

What if an employer wants to see my credit score during the interview process?

This is a growing trend, but it mainly affects people in the financial industry?banks, mortgage brokers, investment companies and so on. Again, the key here is to learn their process up front and explain why you don?t have a credit score if they ask you about it.

Remember, these answers only apply if you have no credit score. If you have a bad credit score, that?s a different situation entirely.

For renting, offer to put an extra month down if you are getting resistance from the property manager because of a bad score. For a mortgage, be patient, rent for a while, and save up even more to put into a down payment.

Our culture will tell you otherwise, but it is possible to live without a credit score. Sure, sometimes it might be annoying because of the way so many people have become addicted to the credit score. But seriously, it will never be as annoying as having a huge pile of debt!

Tired of putting up with FICO? Have you considered how different your life story could be without it? Check out these stories from people like you who are changing their lives by making the decision to live without debt!

How are you proving your financial credibility without utilizing debt? Tell us your experiences with the situations mentioned above.

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Source: http://www.daveramsey.com/article/build-credit-without-credit/lifeandmoney_creditcards

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How Much Are We Supposed To Spend On Friends?

Friends

Friends. My biggest monetary pet peeve lately. Nowadays it is not easy to be a good friend. Nor it is cheap anymore.

I have a complicated relationship with most of my friends. We all have different hobbies, views and goals. Somehow we all manage to stay friends.

Let’s see. I like staying home. I hate exercise. I love reading and writing. Most of my friends like to go out clubbing. They are fitness obsessed and big camping lovers. Me? Not so much. I love hotels, fluffy pillows and hot showers. We are quite different indeed.

Then we have birthday party disagreements. All the time. Most of my friends like big, lavish birthday celebrations. This not just seems odd to me, it seems unfitting at age of 43 to party like you are a 22 year old. Some of us, apparently, never surpassed that tender age when we wanted to announce to the world that we were of a legal age, we were allowed to drink.

The older my friends get, the louder they get in their birthday festivities. Their monetary expectations of friends rise exponentially. They choose venues for their parties that require an entrance fee. Not a $5 fee, but rather a $30 fee. They also expect you to pay for your own dinner, and maybe even theirs. They want a thoughtful gift as an acknowledgment of their importance as your friend. They want your love, respect, and they want your money.

Last year there was a somewhat reasonable expectation of a gift of designer sunglasses. Luckily for everyone in the group, I knew a place where we could buy affordable sunglasses (click here to find affordable designer sunglasses that you can purchase online.) Dinner was not extravagant, the venue was fun.

This year, however, we moved on to an exclusive place of high prices. A proof of our friendship importance was a $2000 painting.

Things that upset me the most:

  • No one asked if we could afford or even wanted to shed a $30 entrance fee into a venue, $40 dinner per person, and $150 for the gift (the share of our contribution towards the desired painting.) To sum it all up, to prove our endless love and respect, Beaker and I had to put down over $300. I found it outrageous, and I blatantly refused.
  • The attitude of entitlement. Should we get online loans or personal loans to be able to “afford” to be a good friend? Should I dip into our savings to celebrate your birthday? Can I just take you out for lunch or dinner and not be considered too cheap?
  • Emotional and time investment in our friendship is not enough anymore. A monetary investment became the main requirement. Why time spent on listening to endless bitching about your boyfriends, girlfriends, business plans, vacation ideas and grocery shopping lists is not good enough?
  • There is no easy opt out option. My behavior will be discussed. My absence will be addressed, and not in a very nice way.

Don’t get me wrong. I am not a birthday hater. I view these occasions as an opportunity to spend time with friends. A birthday celebration is not an ego-centric, attention craving event. It is a chance for all of us to get together and honor our friendship. All I want is to be reasonable about it.

I would never put a price tag on a friendship. Nevertheless, I really want to shout out to my friends:

“Money can buy you company, not friends."

DON'T MISS:  22 Insane Moments From TLC's 'Extreme Couponing'>

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Source: http://feedproxy.google.com/~r/businessinsider/~3/c2MORUlrDcU/heres-why-your-friends-are-one-of-the-most-expensive-and-un-accommodating-financial-burdens-in-your-life-2012-8

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Benefits of Credit Card Debt Consolidation

Consolidation Loans with Bad Credit Is debt consolidation a good solution for my credit card debts? Debtors, upon realizing that in a few years their credit cards would have accumulated thousands of dollars through interests ask the same question. Credit card purchases, in many instances are actually more expensive because of high interest rates. Someone [...]

The post Benefits of Credit Card Debt Consolidation appeared first on legal debt help online.

Source: http://www.legaldebthelponline.com/2012/06/29/benefits-of-credit-card-debt-consolidation/

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Paul Ryan Receives The Worst Initial Reaction To A VP Nomination Since Dan Quayle

Mitt Romney Paul Ryan

It's only a one-day poll, but Paul Ryan received the lowest reviews of any vice presidential candidate since Dan Quayle in 1988 in a new USA Today/Gallup poll released Monday

The poll found that 39 percent of respondents think Ryan is a good or excellent choice for Romney, compared with 42 percent that think he's a "fair" or "poor" choice. 

That's the worst mark since Quayle was George H.W. Bush's nomination in 1988, according to Gallup.

Here's a look at the past:

Gallup poll vp

It should be noted, of course, that the Bush-Quayle ticket won in 1988. And a high mark on these polls — like in the case of John Edwards in 2004 — is not a precursor to victory. 

The Ryan nomination has generated a flurry of conservative enthusiasm over the last two days. Romney pollster Neil Newhouse told USA Today that he expects that to expand as more of the electorate gets to know the relatively obscure Ryan. 

"All these numbers indicate is the simple fact that Congressman Paul Ryan was not a nationally known figure prior to being named as Gov. Romney's vice-presidential pick," Newhouse said. "Congressman Ryan's selection reinforces the seriousness of the issues that will be debated in this election and President Obama's failure to get Americans back to work and his inability to strengthen the middle class."

The poll also found that Ryan boosts enthusiasm for Romney by about the same mark as Sarah Palin did for John McCain in 2008 — 17 percent say they're now more likely to vote for Romney, including 36 percent of Republicans. 

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Source: http://feedproxy.google.com/~r/businessinsider/~3/brl12CyZxAI/paul-ryan-vp-poll-vice-president-dan-quayle-romney-gallup-2012-8

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Joining Together Credit Card Bills The Correct Way

Bringing together consumer debt comes into play a new range of shapes and forms. Absolute confidence the things your overall pacificdebt.com|pacificdebt consolidation|pacificdebt|pacificdebt loansoverall credit score is therefore how very good involving credit debt you have, you’ll be able to obtain a lending product which can suit your specifications. The following are some frequent strategies that [...]

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Source: http://www.legaldebthelponline.com/2012/06/27/joining-together-credit-card-bills-the-correct-way/

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Wedding Chapel & Full Bar At New Las Vegas Denny?s Could Inspire Some Bad Decisions

dennysidoFor all the times when the brilliant thought has hit you while drinking with a loved one ? "Honey, let's get married right now and have a wedding cake made from pancakes!" ? Denny's newest Las Vegas diner has your spot all lined up. The 24-hour diner will boast a full bar and a wedding [...]

Source: http://consumerist.com/2012/08/wedding-chapel-full-bar-at-new-las-vegas-dennys-could-inspire-some-bad-decisions.html

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Japanese GDP Misses Big, Nikkei Opens Lower