For parents with children in college, or nearing college age, this video from NBC’s Today Show is worth watching.

Investing in collegiate housing is not for everyone, but if the angle interests you, don’t forget to purchase an accompanying personal liability insurance for injuries that may occur on-site.

In a study of 2,036 U.S. adults commissioned by Visa USA, nearly half of all Americans are losing track of their money. 

An average of $45 in cash is “lost” each week in what Visa dubs “mystery spending”, Visa’s version of “I know I had this money in my wallet but I can’t figure out what I spent it on.”

Averaged out over the course of a year, mystery spending accounts for $2,340 — enough to fund a Roth IRA or other investment plan.

According to the study, events most likely to cause “mystery spending” include:

• Out for a night on the town (58 percent)
• Grocery shopping (55 percent)
• Out with children (50 percent)
• Shopping during a sale (40 percent)
• Shopping with friends (33 percent)

How people spend money isn’t the point of the survey but it does raise an interesting point about how careless we can all be with our dollars. 

On one hand, we wonder how will we fund retirement, or pay for college, or send our children to tennis lessons.  On the other hand, we aren’t even aware of how much cash we’re spending and where we are spending it.

For example, if the average American saves the $2,340 annually at 8% instead of “mystery spending” it, that money could grow to $31,000 in 10 years, $91,000 in 20 years, and $204,000 in 30 years.

Being aware of your money is the best way to control it.

Source
Half of All Americans Say They Lose Track of $2,000 In Cash Each Year
September 10, 2007

Headlines today read that the value of gold is nearing its all-time high (adjusted for inflation).  The lay people would ignore this story, but those in the know understand that the price of gold is usually reflective of the state of the global economy.

The spot price of gold tells a lot about investor psyche and it is up nearly 10 percent from its 30-day low. 

As a “safe haven” investment, gold’s value tends to increase when an economic recession is expected.  That’s because gold tends to hold its value during a recession; its value is tied to the global economy and not that of any one country.

In the chart above from Kitco, the path of gold’s price appears to mirror the path of market expectations for the Fed’s meeting next week.  As the likelihood of a Fed Funds Rate cut increases, so does gold’s relative value in U.S. dollars.

As gold reaches new highs, it’s predicting somewhat of an economic recession.

Money Magazine recently listed their 2007 Top 100 Places To Live with Middleton, WI topping the list.

The full Top 10 list, in order:

1. Middleton, WI
2. Hanover, NH
3. Louisville, CO
4. Lake Mary, FL
5. Claremont, CA
6. Papillion, NE
7. Milton, MA
8. Chaska, MN
9. Wallingford, PA
10. Suwanee, GA

How did Middleton get to number one?  The formula seems to make sense:

• Good education system
• Low crime rates
• Short commutes to work
• Good air quality

Number 100 on the list?  Cottonwood Heights, Utah.

As homeowners insurance premiums rise across the nation, Bankrate.com writes a helpful story on ways to keep your premiums down.  The tips may surprise you.

Some of the highlights include:

1. Don’t think a series of small claims is better than one big claim.  The smaller clains are more expensive to process for an insurer and may result in higher premiums for your home.
2. Don’t lie about your history of claims — similar to CARFAX, homeowners have a “record” that track prior filings and getting busted is only a database search away.
3. Higher credit scores can lead to lower premiums because homeowners will higher scores tend to make fewer claims.
4. Your driving records impact your premium calculation.

The article also provides a fair amount of myth-busting so it’s worth a read.  A few minutes could save you some good money on your home insurance.

(Image courtesy: Spot Lite Magic & Costumes)

In honor of Independence Day, here are 13 little-known bits of trivia about the United States constitution, courtesy of constitutionfacts.com:

1. The first constitution was not known as the Declaration of Independence.  It was called the Articles of Confederation.
2. The U.S. Constitution has 4,400 words. It is the oldest and shortest written Constitution of any major government in the world.
3. There are spelling errors throughout the Constitution, but the misspelling of the word “Pensylvania” above the signers’ names is a notable one.
4. Thomas Jefferson did not sign the Constitution. He was in France during the Convention, where he served as the U.S. minister.
5. The Constitution was “penned” by Jacob Shallus, a Pennsylvania General Assembly clerk, for a fee of $30.
6. The entire Constitution is displayed in public just one day a year — September 17.  This is the anniversary of the day the framers signed the document.
7. Patrick Henry was elected as a delegate to the Constitutional Convention, but declined, because he “smelt a rat.”
8. The oldest person to sign the Constitution was Benjamin Franklin (81). The youngest was Jonathan Dayton of New Jersey (26).
9. When the Constitution was signed, Philadelphia was the nation’s largest city, with 40,000 inhabitants.
10. Because of his poor health, Benjamin Franklin needed help to sign the Constitution. As he did so, tears streamed down his face.
11. The first time the formal term “The United States of America” was used was in the Declaration of Independence.
12. There was initially a question as to how to address the President. The Senate proposed that he be addressed as “His Highness the President of the United States of America and Protector of their Liberties.” Both the House of Representatives and the Senate compromised on the use of “President of the United States.”
13. The word “democracy” does not appear once in the Constitution.

Have a safe and happy July 4th, everyone.

Source
Fascinating Facts about the U.S. Constitution

http://www.constitutionfacts.com/index.cfm?section=constitution&page=fascinatingFacts.cfm