Archive for June, 2013

Saldutti Salutes: Hats Off to An All-Star Student

Posted on June 28, 2013 by Saldutti

Erica Carroll has been an employee at Saldutti, LLC for the past seven years. She is currently the collection manager for the firm, managing our collectors and providing progress reports to our clients.  Erica recently graduated Magna Cum Laude from Chestnut Hill College with a Bachelors of Science in Human Services. Erica plans to use her degree to pursue a job in social work, working specifically with children and veterans. She plans to further her education by obtaining a master’s degree in Clinical and Counseling Psychology from Chestnut Hill this fall. Erica’s free time is spent with her husband, Staff…

Iraq Veteran Forgiven of $8,000 Debt

Posted on June 27, 2013 by Saldutti

Sergeant Jacob Gayer served in the United States Army for 9 years, spending some of that time in Iraq.  Gayer, who was honorably discharged, had received many honors during his service, including an Iraq Campaign Medal, an Army Commendation Medal, an Army Achievement Medal, a Global War on Terrorism Medal, and others. Like many other men and women who have put their country first by serving in the military, Gayer came home with Post-Traumatic Stress Disorder (PTSD). Gayer, who has custody of a young daughter, also returned from overseas with a significant amount of debt, including a credit card balance…

Americans are giving less money to God

Posted on June 25, 2013 by Saldutti

Americans donated $316 billion to charitable causes in 2012, a 3.5% increase from 2011, a new report by the Giving USA Foundation found. But while charitable donations to education increased 7% to $41 billion, religious donations dropped slightly (by 0.2%) to $101.54 billion. “Americans continue to be the most generous people in the world, despite discretionary income percentages nearing all-time lows,” says Eileen Heisman, CEO of the National Philanthropic Trust. But donors are writing the checks to different recipients. That’s not to say that donations to religious institutions have dried up. In fact, they accounted for 32% of all charitable…

Young People Ditching Credit Cards

Posted on June 21, 2013 by Saldutti

Younger adults seem to be developing an aversion to credit cards and the debt that comes with them. A new analysis of data about millions of consumers from FICO, creator of the widely used FICO credit score, finds that in 2012, 16% of those aged 18 to 29 had no credit cards at all. That’s up from 9% in 2005, before the recession. The proportion of consumers in other age groups without any cards is growing too, but not as drastically, said Frederic Huynh of FICO. The proportion of consumers aged 60 and older who have no cards is now…

Champagne Wishes and Caviar Dreams? 7 Lifestyle Habits of the Rich

Posted on June 18, 2013 by Saldutti

When you hear the word “rich,” what do you think of? Yachts? Evening gowns? Travel? That’s true to an extent, but not all rich people live that way. Those who are rich, especially the self-made rich, are a different breed than most people. They do things differently. They live differently. They think differently. These differences get them where they are. Finance blog, Moneyning.com, reveals these 7 financial habits of wealthy people and offers suggestions on how to incorporate them into your lifestyle. 1.  Build up cash by saving it – Yes, the rich save their cash. Rather than eating out…

The Worst Things You Can Do With Your Money

Posted on June 13, 2013 by Saldutti

Financial blunders are made all the time and everywhere – at the grocery store, at the bank, in the housing market, in the stock market, with your children’s allowance. Some stem from a lack of knowledge or awareness, while others are the result of human behavior that often works against our own best interests. The worst mistakes you can make, though, usually involve those that seem harmless but end up impacting your overall wealth. Yahoo! Finance polled financial advisers about the worst financial slip-ups people make and how much they can cost you. No doubt the opportunities to mishandle your…

10 States With the Highest Credit Card Balances

Posted on June 10, 2013 by Saldutti

Who are America’s big spenders?  What states love their plastic the most?  To get an idea of our country’s credit card spending, Credit.com looked at data from the Experian-Oliver Wyman Market Intelligence Reports. They used the findings to compile a list of the 10 states with the highest average bank card balance per consumer in the third quarter of 2012.  The findings cover only revolving bank card balances for accounts that carried a balance in that quarter. The full rankings show a general trend of North-Eastern states dominating the top 10. In the past four quarters, states like New Jersey and…

Lessons Learned From Successful Retirement Savers

Posted on June 06, 2013 by Saldutti

Almost two-thirds (64%) of Americans with $100,000 or more in assets say they are on target or ahead of their retirement planning goals while 35% say their retirement planning goals have not been adversely affected by the recession, according to a new survey by PNC Financial Services Group, Inc.  Asked the most important retirement-related decisions they have made in their lives, almost half (47%) of the 1,038 respondents pointed to “living within my means.”  More than a third (35%) say they “started saving from an early or at a young age” while 42% say saving for retirement is their primary…

Scorecard: Best (and Worst) Bank Checking Accounts

Posted on June 04, 2013 by Saldutti

From debit card fees to overdraft charges, consumers need clearer policies from their banks to understand checking accounts, according to a report released by the Pew Charitable Trust.  The report, Checks and Balances: Measuring Checking Accounts’ Safety and Transparency, reviews the checking accounts offered by 36 of the nation’s 50 largest banks according to their practices in three areas: disclosures, overdrafts, and dispute resolution. The Pew study identified 7 “best” practices and 11 “good” practices that protect consumers by ensuring banks properly disclose relevant information, reduce or eliminate overdraft fees, and provide fair dispute resolution. The extent to which banks…