Please Don’t Buy Me My Favorite Gift This Christmas…

I love receiving gift cards as Christmas gifts…looove them.  Usually nothing makes me happier than strolling into Victoria’s Secret the week after Christmas with a gift card buying exhorbitantly priced undies with wild abandon.  Popping my head into Bebe and buying a cute dress for New Years with my little plastic gift card buddy.  But this year things are different, the economy sucks, companies are declaring bankruptcy and gift cards at many stores will be rendered useless when they close their doors forever.  This Christmas season will be do or die for many retailers and if it is die for the store you bought a gift card for – you or your friends and family will be stuck with a worthless piece of plastic that someone dropped good money for.

There is no law preventing stores that are going out of business from selling gift cards until the doors are shut forever.  So buyer beware.  I know I will get comments saying Chapter 11 bankruptcy is different than Chapter 7 etc. etc. but I say better to be safe than sorry!  So since gift cards are out…I am a size 4 and my favorite color is red 🙂

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Dollars & Sense Education – Raising Your Financial IQ!
http://www.daseducation.com
nicole@daseducation.com
215-499-3834

You May See Your 401(k) Contribution Limits Shrrrrrrrrrrrinking

Another great WSJ article by Jilian Mincer, as the recession deepens, employees are limiting their contributions to their 401(k)s which means you too might have to limit yours. WHAT!?!  Yes that is right federal rules require that 401(k) plans not favor highly compensated employees, those earning more than $105,000 in 2008.  Higher wage employees can’t contribute more than 2 percentage points more than their lower paid colleagues.

So beware of changes coming………………

Please contact Dollars & Sense Education to bring our seminars to your company or organization!

Dollars & Sense Education – Raising Your Financial IQ!
http://www.daseducation.com
nicole@daseducation.com
215-499-3834