Many magazines carry useful stories about money

The Ticker

June 19, 1996|By Julius Westheimer

MANY PEOPLE know financial articles appear in Business Week, Kiplinger's, Money and other publications, but don't realize that general interest magazines also carry helpful money stories. Some samples:

MONEY-SAVER: Good Housekeeping, June: "Use a 'debit card' rather than a credit card for small purchases because debit cards never charge interest. Some credit cards charge interest from moment of purchase, allowing no grace period. Ask for details at your bank."

LAND THAT JOB! From Glamour, May: "People who interview you for a job may not believe you when you describe your accomplishments, but showing them something -- documents, awards, photos of products you developed -- greatly improves your chances.

"Compile a small portfolio of exhibits from your career instead of just telling about it. And tell not only what you did, but how well you did it."

CUTTING BACK: U.S. News & World Report's June 10 cover story, "How to Afford Retirement," says:

"Need that big-screen TV or new suit? Workers who want a secure retirement must start saying 'No' it's important to become 'masters of moderation.' Instead of a health club membership and book-a-week buying habit, one husband and wife take brisk walks to a library.

"By living in a small apartment, one couple with a potential 'lavish lifestyle' income saves 50 percent of its $150,000 earnings and amassed over $300,000." This issue is worth studying.

MARYLAND MATH: Consumer Reports, June: "Lenders often make mistakes recalculating annual ARM (adjustable rate mortgage) payments. Typically they use wrong interest rate index -- or just mess up the math.

"Some firms, such as Loantech, of Gaithersburg, will audit your mortgage. This company charges $95 per audit, $29 for updates and for $29.95 will send you a kit with work sheets, form letters for requesting a refund." (Call (301) 762-7700.)

LONDON CALLING: The Economist: "The surprise departure of Jeffrey Vinik from Fidelity Magellan, America's biggest mutal fund, warns other financial wizards and their employers It's easy to see why stars like Vinik are portrayed as demi-gods; they move billions at will.

"Why not turn multibillion-dollar Fidelity Magellan into an index fund, so the fund's 4 million investors could be certain it won't underperform?"

HONOR ROLL: Time, June 17, lists Federal Reserve chief Alan Greenspan No. 3 under "America's 10 Most Powerful People." "He's the economy's stern traffic cop, keeping it in second gear. If he wants a boomlet or a sluggish spell, we get it," the article says.

(The most powerful is Bill Clinton; No. 2 is Bill Gates, chairman and chief executive of Microsoft.)

FINAL QUICKIES: "Ninety percent of U.S. workers say they're not worried about losing their jobs, although 39 percent had friends who lost theirs in downsizing." (INC, June.)

"Eager to learn about stocks and bonds? Mutual Fund Educational Alliance, 1900 Erie St., Kansas City, Mo. 64116, offers "Complete Mutual Fund Educational Kit" for $19.50." (Cosmopolitan.)

"Good business plans aren't carved in stone; they're living documents, sometimes must be changed. First step: Write outline of a new plan as if old one didn't exist." (Entrepreneur, May.)

"When traveling overseas, use ATMs, not travelers' checks. ATMs dispense just the amount you need -- at a better rate." (Consumer Reports, June.)

KEEP MOVING: "It's better to give than to lend, and it costs about the same." (Philip Gibbs, 1877-1962.)

"Who borrows easily? He who pays promptly." (Old Greek proverb.)

Pub Date: 6/19/96

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