Personal finance news - CNNMoney.com

Getting paid $35,000 to short sell

Fri, 10 Feb 2012 11:02:52 EST

In an effort to cut their losses, banks are paying some struggling homeowners as much as $35,000 to sell their homes before they end up in foreclosure.

What the $26B settlement means for you

Thu, 09 Feb 2012 17:50:39 EST

The nation's five largest banks have finally struck a deal with 49 states to settle charges of abusive and negligent foreclosure practices dating back to 2008.

Top 10 counterfeit goods

Wed, 08 Feb 2012 19:32:03 EST

Last year, U.S. Customs and Border Protection seized 25,000 counterfeit goods that were making their way into the country. The total value of that loot: $178.9 million. Here are the top 10 fakes and how to spot them:

Investing your emergency cash: Return vs. risk

Fri, 10 Feb 2012 09:37:01 EST

I'm thinking of stashing cash for emergencies into a Treasury Inflation Protected Securities (TIPS) mutual fund rather than CDs or a money-market account. The return is better and the risk doesn't seem to be much higher. What do you think of this plan? -- Ronnie Colvin, Madison, Alabama

Career wisdom in just 6 words

Thu, 09 Feb 2012 09:52:21 EST

You wouldn't think six words could say much, but entries in a recent contest carry bite-sized chunks of insight.

First Premier's $400-a-year credit card

Sat, 11 Feb 2012 09:38:01 EST

Would you pay $400 a year to own a credit card?

Warren Buffett: Why stocks beat gold and bonds

Wed, 08 Feb 2012 13:22:34 EST

Investing is often described as the process of laying out money now in the expectation of receiving more money in the future. At Berkshire Hathaway we take a more demanding approach, defining investing as the transfer to others of purchasing power now with the reasoned expectation of receiving more purchasing power -- after taxes have been paid on nominal gains -- in the future. More succinctly, investing is forgoing consumption now in order to have the ability to consume more at a later date.

Big banks' bloated mortgage tab

Thu, 09 Feb 2012 17:15:37 EST

Not to be outdone by the U.S. attorneys general, four other federal agencies were quick to lay claim to $2.2 billion of the massive mortgage settlement reached Thursday with five of the nation's biggest mortgage lenders.

Fewer young adults hold jobs than ever before

Thu, 09 Feb 2012 05:33:00 EST

The share of young adults with jobs has hit its lowest level since the government started keeping records just after World War II.

Government assistance expands

Tue, 07 Feb 2012 18:51:04 EST

More than one in three Americans lived in households that received Medicaid, food stamps or other means-based government assistance, according to a new report.

Yale B-school wants a piece of the spotlight

Wed, 08 Feb 2012 12:46:17 EST

(Poets&Quants) -- Ever since Yale University launched its School of Organization and Management in 1976, the place has been something of an unconventional business school. Its founders envisioned a school that would be small, communal, unorthodox, and steeped in theory and research, able to groom leaders for both business as well as the public and non-profit sectors. But the decision to avoid creating another me-too business school has had some unintended consequences. For years, SOM has unsuccessfully battled the misperception that it is merely a school for non-profit management, a haven for do-gooders outside the MBA mainstream. And despite basking in the glow of one of the world's most valuable educational brands, the school has never been able to develop the stature of any of its Ivy League rivals. Enter Edward "Ted" Snyder, the 58-year-old veteran dean who signed on as SOM's new leader last fall. He arrived with extraordinarily high expectations. "I like what I do so I don't feel pressure," says the soft-spoken Snyder. "I feel really good about the prospects here. I've been at business school deaning for awhile so it gives me the credibility to say, 'Folks, this is what we face.'"

Bob Rodriguez: The best advice I ever got

Wed, 08 Feb 2012 13:24:59 EST

"In the fall of 1974 I was in graduate school at USC taking a portfolio-management investment course. The financial markets were in difficulty, and I didn't understand how securities were being sold at such depressed levels. I had only recently discovered Security Analysis by Graham and Dodd when we had a guest lecturer come in named Charlie Munger, who went on about this idea of value investing. After the class was over, I walked up to Charlie and asked him if there was one thing that I could do that would make me a better investment professional. His answer was, 'Read history, read history, read history.' And so I became a good historian, reading both economic and financial history as well as general history.

Sal Khan: Building a better university

Wed, 08 Feb 2012 11:11:33 EST

FORTUNE -- Student debt is nearing a record $1 trillion in the U.S. Jobless law school grads are suing their alma maters for false advertising. Needless to say, the cost of higher education -- not to mention the return on the investment -- has become a sore spot for many.

$34,000 in debt, wants to start a business

Fri, 27 Jan 2012 15:58:34 EST

We spoke to five families who face challenges that could keep them from meeting their financial goals. With a few tweaks to their game plan, they can get back on course. Here, Heyward's story -- and the recommended financial fixes.

Nonprofit founders put passions ahead of planning

Fri, 27 Jan 2012 12:51:06 EST

Scott Pankratz and Julie Osborn are phenomenal planners and money managers -- except when it comes to their own investments.