Hi All,

There is so much in the news that its almost hard to keep track of things! So here is the Thursday round up:

1) Treasury Secretary Paulson with the support of the Federal Reserve Chairman, Ben Bernake have taken steps to partly nationalize many of America’s largest banks (here).

2) The Peer to Peer lending industry has is shifting business models to allow loan portfolios to be bought and sold. LendingClub has come out of their SEC mandated “quiet period” and prosper.com has implemented that same period until their SEC registration is complete (here & here).

3) A new report has come out from Innovest Partners detailing long term trends in household credit card use. Among their predictions – the household credit card indebtedness is increasing at alarming rates. Elevated credit card defaults could become a substantial drag on the financial sector (here).

4) Wednesday the Dow Jones Industrial Average (DOW) declined by 733 points – its second greatest one day loss in history. The decline was largely due to concerns about economic fundamentals (here).

Enjoy the chaos. We are staying in cash.

-James

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1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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