"Safe" Investments

The current economic climate is a great time for borrowers but a lousy time for savers.  Because of the recession, the Federal Reserve has lowered interest rates to the lowest rate in roughly 50 years.  While this was done to stimulate borrowing, which is beneficial for the economy, low interest rates mean low risks and thus low returns for savers looking at investment vehicles.

In this video, Dan Danford, Founder and Chief Executive Officer of Family Investment Center, shares basic economic principles and helpful financial tips on different investment types.

Low interest rates = high opportunity

A recent article on MSN Money suggests 7 "smart moves" while interest rates are so low:

1) Buy a home or rental property

2) Refinance your home

3) Buy a car

4) Give money away

5) Review investments

6) Lock in student loan rates

7) Pay off credit card debt

Click here to read the full article for information on each.

Time to refinance?

Dan Danford, CFP® and Founder/Chief Executive Officer of Family Investment Center, answers this week's episode of Money Made Easy.

With interest rates so low is now a good time to refinance or are there disadvantages to refinancing?

Danford addresses the costs associated with refinancing (new appraisal, new title company, etc.) but says this is the best time to refinance in the last 50 years. He explains why everyone should consider refinancing not only their marital home but also their credit cards and vehicles.

Dad's Divorce: Explaining Interest Rates

Dan is a weekly contributor to Dad's Divorce, a web site for men going through the divorce process. The site may have been designed for men, but the advice usually can apply to anyone. In this week's edition of Money Made Easy, host Dan Danford answers this financial question from a viewer: Why are interest rates currently so low and when are they expected to increase again?

Danford, MBA, CRSP of Family Investment Center, offers his financial opinion on the current interest rates and when they might increase again.

Credit card issuers get sneaky

Didn't we all know this would happen?

As soon as the government cracked down on the credit card industry, card companies found new ways to bilk the unsuspecting public.

Those bulky Card User Agreements that they send you once a year or so with lots of tiny, tiny print? You need to read that.

You also need to read this story from The Wall Street Journal detailing some of the card companies' newest tricks.

Read this excerpt to get an idea of how the companies are getting sneaky:

The Card Act also stipulates that issuers can't jack up rates on existing balances unless a cardholder is at least 60 days late. But there is a creative maneuver around that: the so-called rebate card.

Citibank rolled out rebate-card offers to some of its customers last fall, offering to refund up to 70% of finance charges when customers pay on time. The problem: Rebate offers aren't governed by the Card Act, and an issuer can revoke them suddenly and hit cardholders with high charges.

The net result is the same as raising rates—and because it is perfectly legal, customers have little recourse. "Rebates on finance payments may seem like a good deal, but you could end up with a very high interest rate suddenly," says Mr. Frank, of the Center for Responsible Lending.

Read on for the full article:

http://finance.yahoo.com/banking-budgeting/article/110213/the-new-credit-card-tricks?mod=oneclick