Why America Is Exceptional - Fourth of July

Image via WikipediaAsk yourself how it's possible, a group of men could sign a document 235 years ago, resulting in a country that eventually would dominate a world culturally, economically, societally, and militarily. Even though other nations had a 1000 year head start and they still couldn't attain the same result.

Is America exceptional or as President Obama stated in April 2009, "America was not any more exceptional than any other country."

The beginning of American exceptionalism started with the revolution. The founders wanted to write a Constitution that would not fail man as past documents have. They believed the rule of law was the basic foundation of a people who's success or failure depended on their own efforts. They believed government could not guarantee or provide anyones basic needs. They started with the premise that all men were created equal. This gave all men an even starting point in their lives. It would be up to them to make it work. It was the being of the American tradition of self reliance.

The founders new then that government was not the solution but the problem. Even today men still think government can cure all of the people problems. The founders knew that government needed to get out of the way of it's citizens because the people had it with in them to make their lives work. Anything the government touched would not be as efficient as men and women taking care of their own lives. Governments job was not help all citizens succeed, it was supposed to make the playing field level, giving all the opportunity to succeed, not guaranteeing success.

No government is like America. Most revolutions seek to destroy the existing class order and use all-powerful government to mandate an equality of result rather than of opportunity. The Founders were convinced that constitutionally protected freedom would allow the individual to create wealth apart from government. Such enlightened self-interest would then enrich society at large far more effectively that could an all-powerful state.

In America we trust in the common man, not the government. In other lands, the government is the nanny of the people. There is an innate distrust in the government and the elite bureaucracy it creates. Confidence in the common man is the backbone of our success in the past and the only way to a prosperous future.

6 Signs That Indicate Your Headed For A Financial Collision

Image via WikipediaGetting into trouble financially doesn't happen all of a sudden. It happens little by little. Dollar by dollar you increase the amount you owe on your credit cards. An emergency comes along and your savings doesn't cover the bill. You use your credit card like a piggy bank. You don't mean for it to happen but you are forced into a corner.

Being aware of the warning signs of trouble may help you avoid the trouble so here are 6 indicators that you may be on your way to financial ruin.

1. Using your home as a source of money. One of the causes of the financial crisis was homeowners borrowing on the equity in their home. They used the money for consumables like TVs, cars and vacations. Some used their home to pay off credit card and other debt. Doing this takes short term debt and makes it long term debt. It is like borrowing money for a car and taking 30 years to pay it of. If you are about to do this, find another way to borrow the money for your debts. Try negotiating a lower interest rate with your credit card company.

2. Using or borrowing from retirement accounts. If you borrowed from you 401(k) this is a sign of future financial problems. Most people use this as a last resort and it shows that you are having trouble with cash flow. It is only a patch on a problem. Doing this just exposes the serious financial problem you have. Using your retirement savings sets up future tax problems, you have to pay the loan back if you lose your job, and you lose the compounding that makes retirement savings grow. A better way would be to cut back in lifestyle and sell everything that's not nailed down.

3. Your paying overdraft fees and getting Non-sufficient funds notices from your bank. Another sign you are living on the financial edge and ready to go over. This is a big red flag that you have too little income and to many debts to pay. Your monthly bills are more than you make and just one more emergency and you will be underwater. Now is the time to seek professional credit counseling.

4. Fighting with your spouse about money. Nothing can end a relationship faster than money problems. An occasional fight now and then is fine but if you are having continual, never ending fights you are showing all the signs of an impending financial disaster. It's time to get to a marriage and financial counselor.

5. Credit Card Roulette. If you are juggling several credit card balance transfer offers and just moving balances from one to another card, this is a sign of impending financial trouble. You are not paying down your debts and you may be just increasing them. Here again a drastic reduction in lifestyle is the answer. You spending more than you make and it will never end unless you do something drastic and change your behaviors.

6. Paying late fees and juggling due dates. Timing your bills due dates shows you just don't have the money for what your spending money on. It's very hard to time your bills due dates. You may get some bills there on time but others like credit card companies sometimes hold back your payments and credit your account after due dates just to churn late fees. Late fees also trigger interest rate increases, just making the your minimum payments even higher.

If your tired of living with these kinds of behaviors and never having enough money to pay your bills maybe your sick and tired enough to do something about it today.

Goodby ING Direct, Hello Perkstreet Financial

Image via CrunchBaseLike a lot of ING Direct customers I am very disappointed in the decision to sell the company to Capital One. Capital One is acquiring one of the finest banking companies on the web. I believe that Capital One will not keep the fine customer service and great fee structure that ING Direct delivered for so many years. It may be premature to abandon ship at so early a time but am not going to wait around and see what happens.

Without ING what are my alternatives. I need a bank with free checking and a free ATM. The ATM card must also let me use it for making charges. It also has to have a reward program.

The only bank that suits all those requirements is PerkStreet Financial. I have been using PerkStreet  Financial for a while and have found that it lives up to its claims.

What I like about PerkStreet is they have a 2% unlimited cash rebate on purchases for your first 3 months (and longer, if you maintain more than a $5,000 balance). If you keep less than $5,000 on hand, they will still give you 1% cash back after the initial offering.

The rest of the year they offer 5% (with a $250 annual limit) on various categories and retailers. Not bad for a checking account.

I also use the Chase Amazon Card which gives me 1% back on purchases and 3% when used at Amazon. Now I use the PerkStreet Debit MasterCard for more and more bill payments so I can add to my reward total.

I don't have direct deposit, so I use my other bank to transfer the cash to PerkStreet, all at no charge. I like to pay my utilities and repeating monthly bills through PerkStreet to also add to my cash back total.

It's very easy to apply for an account online and you can fund your account through your current bank account. You can sign up for an account today with the details below.


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Backlash to Capital One's Acquisition of ING Still Raging

Image via WikipediaMany people may have not heard that Capital One has purchased online bank ING Direct for $9 billion . 

Under the terms of the deal, Netherlands-based ING Groep will receive $6.2 billion in cash and $2.8 billion in the form of Capital One shares. That will make ING the largest single shareholder in Capital One after the deal closes.

ING will also have the right to be represented by a member of Capital One's board of directors.

Capital One is best known for its portfolio of credit cards. But the company also has about 1,000 branches, mostly in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia.

Acquisitions like this happen all the time but the reaction because of it has rarely been seen. Many social media sites like Facebook have seen the backlash first hand of customer complaints of this sale. In chat rooms, forums, and blogs ING customers are venting their frustration. Their reactions are almost like they have lost heir best friend. The amount of emotion and dejection is almost unheard of in this type of news. It only goes to show of how a company can find the needs of it's customers and successfully fulfill them. Thus creating happy customers and a prosperous company.

The reason for the sale of the company is European regulators, as a condition of financial assistance given to ING's Dutch parent company during the bank crisis, demanded that they sell off the ING Direct division of the company. ING Direct, headquartered in Wilmington, Del., offers savings accounts, checking accounts, mortgages and brokerage services to 7.7 million customers.

The problem many people have with the sale is that they are worried that ING's reputation, low fees, low maintenance, and great customer service would be thrown to the wayside because of the new ownership.

ING is so popular because they offer a basic savings account with no minimum balance and great interest rates. Combined with no monthly fee, customers have flocked to the bank and made it one of the most popular online banks. It has become the gold standard of online banks.

Thus lies the problem people have. Capital One's dismal reputation proceeds it. Capital One has a reputation of a terrible fee structure and poor customer support. ING customers know this and are rightly upset. They have enjoyed a great banking experience and now are worried it will all disappear. How many ING customers will leave the online bank, will be determined as time goes by.