In fun holiday news, a new type of investment company is popping up around the country. If you’re intimidated by the stock market, maybe you’ll want to invest in divorce proceedings? Or not. Two companies—Balance Point Divorce Funding in Beverly Hills and Churchill Divorce Finance in New York—let you contribute to a woman (or man) going through a divorce proceeding and cover, say, a part of their lawyer’s fee or the cost of an investigator to seek out hidden assets. In exchange, you get a percentage of the settlement that’s reached in the end.
Before you get all up in arms about the state of our society, this actually isn’t the worst idea ever.
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Raise your hand if you’ve ever avoided looking at your credit card bill (easier now, thanks to automatic payments) or bank balance? We’re oftentimes guilty of not managing our money as best we could, and we hate to use technology as the culprit, but you can’t deny that money
is becoming increasingly abstract with online banking. That’s an issue a group of MIT students address with a project that creates mechanical wallets to make you more conscious of spending. One wallet buzzes when you make a transaction, another inflates or deflates to reflect your bank balance, and one (our favorite) includes a hinge that becomes more difficult to open as you get closer to your monthly budget max. Check it out! [Gizmodo
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Retirement seems so far away. Then again, so did 30 and that’s all up in my grill. Like other distant things, thinking about retirement is easy to delay in favor of the triage of daily life. But objects in the mirror are closer than they appear. Since there’s no way to rapidly save for retirement besides a windfall (hello, lottery!), it’s critical to begin saving ASAP. Le sigh. This article will guide you through the basics of the time value of money and its progeny, the 401(k). Keep reading »
Prenups are a backup plan. Like any other backup plan — the fold-up flats in your purse, tampons in your desk drawer at work, the rape whistle on your keychain — you don’t expect to use it, and you really hope not to, but thank God it’s there when you need it. For women, divorce is financially dangerous, and you’re necessarily subject to a 50 percent chance of suffering from it if you marry. After the jump, I’ll debunk popular excuses for avoiding a prenup. Keep reading »
Last time in Cash & Coupling, we covered how to go into a marriage making financial choices that would benefit you in the event of a future divorce. But what about after disaster strikes and the marriage is over? (I know, we’re thinking real positive around these parts.) Here are five tips designed to help new divorcees keep as much of their finances intact as possible as they bid their husbands adieu. Keep reading »
Most of the items in my closet probably cost between $5 and $75. I’m a huge fan of thrift stores, discount stores, and clearance racks. My mom raised me to hunt relentlessly for the best deal, so even when I’m doing fine financially, a $50 price tag will give me pause. A $100 item is a pretty big purchase, one to ponder, put on hold, and perhaps consult with a clergyman about (“But Father, it’s BCBG!”). And with the exception of an ill-advised pair of limited-edition purple Ugg boots my sophomore year of college, I almost never buy anything that costs more than $150. Keep reading »
Education is supposed to enrich our lives and make us more worldly and learned. But for many of us, higher ed just brings on thoughts of debilitating debt and crashing credit scores. According to the Project on Student Debt, the average 2009 graduate owes around $24,000 after graduation. But that’s nothing compared to the astronomical amount of school debt Kelli Space has. Keep reading »
It seems like the floundering economy has taken its toll on everyone in some way or another. Maybe you ended up in the unemployment line, or maybe your pantry’s stocked with nothing but store-brand food. And while the financial environment may have led you to cringe whenever you look at your checking account statement, our generation is lucky in that we have plenty of time to recover before we’re ready to start thinking seriously about retirement.
But what about your parents? If they haven’t retired already, they’re probably getting close, and they have much less time to recover if the economy took their finances down with it. Knowing how to help your parents can be tricky, but they may be at a point where they really need you. Keep reading »
When I think prenup, I think Donald Trump protecting his vast fortune from gold-digging spouses. But this is an outdated point of view. Getting a prenuptial agreement is actually a very savvy move for a pragmatic couple. Prenups are an example of one of the important financial choices women can make from the outset of a marriage to minimize the financial upheaval in the worst-case scenario: divorce. Though few of us see ourselves as future-divorcees, I’ve come up with a few recommendations for preemptive, defensive financial management, just in case. Divorce still typically incurs much more financial harm to women than men. These four tips offer basic, fundamental financial safeguards that are only logical in an age of high divorce rates. Keep reading »