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Mark Riddix
Mark Riddix is the founder and president of an independent investment advisory firm that provides personalized investing and asset management consulting. Mark has written financial columns for Baltimore and Washington, D.C. area newspapers and is the author of the book, Your Financial Playbook.

5 Newest Credit Card Tricks

By Mark Riddix

Now that Congress has passed the Credit CARD Act, credit card companies are expected to lose anywhere from $5 to $15 billion in potential fee income. Banks are responding by coming up with new ways to make up for income lost from credit card reform. They are creating new fees and raising interest rates to make money off of the financially strapped consumer. Here are 5 new tactics that credit card companies are using to increase revenue. Feel free to also check out, How Will The New Credit Card Laws Affect You?

Variable Interest Rates

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5 Ways to Make Yourself More Marketable in the Job Market

By Mark Riddix

With unemployment at 9.7%, many people find themselves competing for the same jobs. So, how can you distinguish yourself in a job market filled with so many applicants?

You can increase your chance for success in this tough job market by sharpening your skills and making yourself a more attractive applicant  Here are 5 tips that will make you more marketable in the current job market.

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SmartyPig Review – Savings Account Alternative with High Interest Rate

By Mark Riddix

You may have heard of a new personal financial site known as SmartyPig, but what is it?

SmartyPig was created in 2008 as an online site to help individuals save money for a specific goal. Think of SmartyPig as an online piggybank that pays a high interest rate. You can save for anything on SmartyPig including a wedding, a vacation, or a down payment on a home.

SmartyPig defines itself as “a simple, smart and secure way to save for a specific goal.” The unique aspect of the site is that SmartyPig lets friends, family members, and other users contribute to your savings goal. You can also contribute to other people’s savings accounts to help them achieve their goals.

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Personal Finance Round-Up: Living Like No One Else

By Money Crashers

It’s that time again for the weekly personal finance blog round up. If you are looking for the best financial articles on the web, look no further! At Money Crashers, we aim to bring you the best financial information available. This week’s posts include ways to save money, how to increase your income, and getting helpful financial advice. I hope you enjoy reading them as much as I did. Here are some of the best financial posts for the week.

Personal Finance Blog Round Up

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Are You A Fan of Dave Ramsey or Suze Orman?

By Mark Riddix

Millions of people tune in each week and follow the advice of personal finance experts, Suze Orman and Dave Ramsey. They are the two most well known figures in the area of personal finance in the country. Guests call in to hear Suze’s opinion on whether or not they can afford a luxury cruise. Callers check with Dave to see if their financial house is in order. So, who has the better advice? Let’s take a closer look at the two financial pundits.

Dave Ramsey

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How To Spot A Financial Scam

By Mark Riddix

I was watching “American Greed” on CNBC and was surprised by the number of people that were duped by con artists. Con artists trick millionaires, celebrities, and average investors out of their hard-earned dollars with the promise of quick profits. These crooks use ponzi schemes, pyramid schemes, and offshore investment scams to enrich themselves and defraud investors.

Ponzi Schemes

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9 Ways The New Credit CARD Act Of 2009 Will Affect You

By Mark Riddix

This past Monday, the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act), went into effect. The CARD Act will protect consumers from unfair and deceptive practices from credit card companies. The CARD Act will save credit card holders billions of dollars over the next few years. Here’s are 9 ways the new credit card laws will affect you:

1. Limit on Rate Increases

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5 Great Sites For Online Shopping

By Mark Riddix

Are you looking for a great deal on that new 52 inch flat-screen TV that you have been saving for? Are you searching for the lowest price on your new cell phone?  Before you run out to your local Best Buy, take a few minutes and shop around online. There are a number of great sites on the internet that can help you save money on your next purchase. Let’s take a look at the 5 Best Places To Shop Online To Save You Money.

BensBargains.net

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3 Ways To Build Wealth At An Early Age

By Mark Riddix

EntrepreneurI was recently reading a Forbes article about young people who have made over $1 million dollars before they graduated from college. These young people were adept at identifying problems and then creating companies to solve those problems. They were ambitious, and they shared many common traits. The article takes about “their common thread: singular focus, preternatural financial savvy and the optimism and confidence to wrest financing from seasoned investors.”  

 Listed below are the 3 best ways to build long term wealth:

Entrepreneurship

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The 3 Worst Credit Cards That You Could Ever Own

By Mark Riddix

Credit CardsI was looking through the mail the other day and noticed a stack of credit card applications. From television commercials to internet ads, we are bombarded with credit card advertisements. Credit card companies pitch products to people whose credit ranges from excellent to poor. Individuals with credit ratings that fall in the fair to poor range are often preyed upon by “fee harvesters”. Fee harvesters are companies that offer low-credit, high-cost cards. Signing up for a credit card with a high interest rate and exorbitant fees is like having an albatross around your neck. It is better not to have a credit card than to be stuck with a high-cost card. With cards like these, it makes sense that More Americans Are Saying No To Credit Cards.

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What Is a Roth IRA – Benefits & Restrictions

By Mark Riddix

RetirementPlanning your retirement is one of the most important decisions that you will ever make concerning your financial future. Many people have questions about the different types of retirement accounts available and which one is the right plan for them. Let’s take a look at one type of retirement account known as the Roth IRA. A Roth IRA is an individual retirement account which allows an individual to set aside a specified dollar amount of income after taxes. This tax-advantaged retirement account derives its name from United States Congressman William Victor Ross Jr., who was the legislative sponsor of the bill creating this plan.

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TradeKing Review – The Leading Online Discount Stock Broker

By Mark Riddix

There was a time when investors and traders could only buy securities through full-service brokerage houses. This changed during the nineties when we saw the rise of discount brokerage firms.

Discount brokerages are companies that charge lower fees than traditional brokers while typically offering fewer services. These brokers make it easier for the average person to have the opportunity to invest. We will take an in-depth look at a popular discount broker called TradeKing.

So, what is TradeKing? TradeKing is an online discount brokerage firm started in 2005 that allows investors to buy and sell securities for a minimal fee.

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4 Steps To Effectively Plan For Retirement

By Mark Riddix

retirement plan bannerI read an interesting article about the Social Security system needing a bailout. Here’s an excerpt: “A report from the Congressional Budget Office shows that for the first time in 25 years, Social Security is taking in less in taxes than it is spending on benefits. Instead of helping to finance the rest of the government, as it has done for decades, our nation’s biggest social program needs help from the Treasury to keep benefit checks from bouncing – in other words, a taxpayer bailout.”

With the growing problems for Social Security, future retirees will need to effectively plan their own retirement so that they will not end up having to rely on the Social Security system. Here are four steps to help you effectively plan for retirement.

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5 Easy Ways To Make Some Extra Cash

By Mark Riddix

holding moneyAre you looking for ways to earn some extra cash? Wouldn’t some extra income help during these tough economic times? Here are 5 easy ways to earn extra cash without quitting your full-time job.

1. Start a business.

One of the most rewarding, but toughest ways to earn some extra cash is by becoming an entrepreneur. You can start your own business right from the comforts of your home for little to no cash. You could create websites for businesses that would like to advertise on the internet or maybe design logos for companies that need them. You could start an errands-for-hire business by running errands for busy working people and the elderly. There are numerous tasks from grocery shopping to picking up prescriptions that people would pay for to make their lives easier. Just look around and wherever you see a need you can create a business to fill it!

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5 Simple Tips To Save You Money

By Mark Riddix

Let’s start the week off right and help you start saving money right away. There’s a huge debate about whether or not people should worry about the little purchases in life like the “latte factor” effect, which involves getting rid of the smaller luxury purchases in life. We don’t find anything wrong with indulging in a delicious latte every now and then, but we do believe there are small steps you can take and habits you can form to help save you money on a regular basis. Here’s five tips to help start saving money right away.

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The content on Money Crashers is for informational and educational purposes only and should not be construed as professional financial advice. Should you need such advice, consult a licensed financial or tax advisor. References to products, offers, and rates from third party sites often change. While we do our best to keep these updated, numbers stated on this site may differ from actual numbers.
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