Welcome to the end of the week and another edition of Happy Hour! Just sit back, relax, and enjoy your end of the week roundup of all things interesting in the land of money.
$1.5M ATM Glitch
That’s 1.5 million dollars. That’s a lot of zero’s and one giant ATM glitch that allowed one guy unlimited ATM withdrawals. Instead of pocketing the money and finding a quiet sunny beach somewhere, he decided to go gambling. Sounds like a problem. So what does a guy get for stealing $1.5 million from Bank of America? Prosecutors are recommending 15 months in jail. Subtract some time off for good behavior. The question is would you do it?
Private Parking Meters
Seems New York is following in Chicago’s footsteps by privatizing their parking meters. Sounds like a bad idea to get a short-term money fix at a steep cost. As a long time Chicagoan, this was one of the worst decisions the mayor ever made. It ends up being a cash flow bonanza for the private company and higher parking costs for the citizens. I doubt parking in New York can be considered cheap, but it will be compared to the rates they’ll be charging after this deal goes through. The good news, you’ll start seeing fancy new high-tech meters the day after the deal is signed. Continue Reading…
We’re big advocates of do-it-yourself finances and believe everyone has the ability, if they wanted. That doesn’t mean we’re against getting some help from time to time. Let’s face it, not everyone is equipped, comfortable or willing to do their finances themselves. If that’s the case, it’s a good idea to find a financial advisor to help you along the way.
The days of getting a Social Security statement in the mail have come to an end. At least for everyone under 60 years old. About a year ago the Social Security Administration stopped sending annual statements to save money on budget cuts. It worked. But it left several million people without easy access to their statements.