To Buy Facebook or Not to Buy Facebook? That is the question...

by Marylove Moy 18. May 2012

Facebook IconHistory was made today with the roughly $16 billion dollar IPO of Facebook (FB).

Is it another Apple? Microsoft? Google? Absolutely…..

So, should I buy it today?

I think only the gutsiest of individuals should buy it today, just because there is so much hype in the stock that it may well skyrocket initially and then trend down over the coming weeks.  I may be very well wrong (I frequently am). However brilliant Zuckerberg is, he is now at the helm of a publicly traded company; he is going to face shareholders and analysts who will question and criticize his decisions. They can be a tough bunch. Zuckerberg is no longer operating in a black box.

A safer bet would be to buy either a mutual fund, which focuses on social networking, or a broader based technology fund that in all likelihood will buy it. Mutual funds offer the diversification that can absorb more efficiently erratic stock price swings than holding a stock outright.

Remember Enron? MCI Communications? Woe betide to the poor individual who held these stocks outright; their personal wealth would have been more protected if they had held these shares indirectly in a mutual fund.

Don’t get me wrong…if anyone can chart the future and shape it, I believe it is Mark Zuckerberg and FB; I just think he will need some time first.

True or False? Five Myths About Credit Scores Unveiled

by Jim Brennan 14. May 2012

Credit scoreThere's a lot of information – and misinformation – circulating about credit scores. Your credit score is important because a low score can cost you a lot of money in terms of higher interest rates or even prevent you from getting credit for things you need, like a new car. So it’s good to protect your credit rating, but make sure you do it the right way. Sometimes you can inadvertently hurt your score even when you’re trying to do the right thing.

How educated about maintaining a good credit score are you? Here are five myths about your credit score unveiled:

1) True or False? Open as many accounts as you can early on.

False. New accounts lower your average account age which could lower your overall score.

2) True or False? Close old, unused credit card accounts.

False. A card that you’ve held for years is better for your score than a new card. Just don’t use the old cards, and gradually close them out over time.

3) True or False? Don't sign up for too many retail incentive cards.

True. Your score is affected by the number of times credit card companies request your credit report because it may look like you’re desperate for credit.

4) True or False? Don't open too many credit card accounts.

True. Opening a lot of credit card accounts probably won’t raise your score. Your best bet is a mix between secured loans, like home and car loans, and unsecured loans, like credit cards.

5) True or False? Don't check your credit score too often.

False. While allowing banks or other lenders to check your score often can have a negative impact on your score, checking your own credit score yourself has no impact on your score – so check it as often as you’d like.

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It's 11:00 p.m. Do You Know Where Your Money Is?

by Elizabeth Sherman 8. May 2012

If someone asked, "How much money do you have in your account?” would you know the answer – down to the penny?  Do you rely on an ATM receipt for your latest balance information or your monthly statement for transaction history?

In this era of technological advances, you can access account information from your phone, electronic tablet or computer.  The problem?  Hackers can as well.  By simply opening an e-mail, you can inadvertently download an insidious virus which could enable a criminal to see all of your confidential information.  While banks are putting more security features in place to protect your accounts and related information, YOU still remain the first line of defense.

You should know what’s going on with your bank account better than anyone.  Only you know where you’ve been and where you’ve spent your money.  Take five minutes each day to verify your transactions and balances.  By doing this every day you could potentially mitigate damages caused by either theft or the manipulation of your accounts.

It’s your money!  Make it your business to know where it is at all times!!!!!

If you found this article helpful, be sure to check out these related articles:

5 Mobile Banking Security Tips

I'll Take "What is Check Fraud?" for 500, Alex

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