Many people take advantage of zero interest offers for balance transfers of credit card debts from one card to another. This happens often with couple when contemplating a divorce situation. The Consumer Financial Protection Bureau recently warned that consumers are not properly informed of the dangers of zero-interest balance transfers, according to an article in the September 19, 2014 issue of The Week which quotes The Wall Street Journal and Credit.com.
New data from the National Association of Realtors shows about 20 million families have money to buy a home but are choosing to rent as reported in MarketWatch.com. Buyers are deterred from purchasing because of large down payment requirements and requests to prove a long track record of steady income. Many workers are choosing to be self-employed or do free-lance work.
The Internal Revenue Service reported that in 2011 it collected $5.7 billion in penatlies as a result of early withdrawals from 401K plans. In that year, Americans took roughly $57 billion from their 401K plans as early deductions.