Finance & Economy

Remember the way banks used to slap debit-card users with outrageous bounce fees if you happened to operate too close to the edge

Whether you’re a confused stock market investor or a saver frustrated by low interest rates, this is not the time to make any big moves. The best decisions are made by analyzing facts, but these days the financial facts seem to change day by day.

Would you take a bribe? To do the right things? Things like saving and paying down your debt? That’s part of the interesting psychology behind SaveUp.com, a free website that lets you earn a shot at cash and other prizes, just for doing the right thing.

John W. Rogers Jr., founder, chairman and owner of Ariel Investments L.L.C. in Chicago, one of the nation’s largest African American-owned asset management firms, is among the super-elite when it comes to helping people make the most of their money... Last year, Black Enterprise named him one of the most powerful Blacks on Wall Street. Rogers, 54, is a former classmate and still a friend of First Lady Michelle Obama’s brother. President Barack Obama appointed him to the President’s Advisory Council on Financial Capability. Rogers was in New Brunswick, N.J., recently and sat down for a brief interview with TNJ contributing writer Glenn Townes.

Recipients of federal benefits who receive their payments by paper check have about a year to switch over to an electronic payment method. Under regulations announced by the U.S. Treasury Department in December 2010, all federal benefit payments, such as Social Security, will be paid electronically by March 1, 2013.

Despite the spate of predictions at the start of the year, very few forecasters can claim long-term success at looking into the future. Events and context change, demanding changes in investment strategy. But basic principles stay the same.

Sometimes, it’s important to stick to your convictions despite the emotional urge or outside pressures to change your mind. But other times, you need to be flexible enough to change your mind when presented with a new set of facts. Never has that been more apparent than in business headlines in 2011

Starting to save in your 20s will give you a huge leg-up. That’s not to say it will always be easy. But by starting now, you definitely have a chance to buy a house or another big-ticket item! Whether you’re in your 20s or well beyond, there’s no magic bullet when it comes to saving. It’s about setting realistic goals, prioritizing how you’ll manage your money — and sticking with it. Here are some ideas to get you going.

 As soon as you recover from filing this year’s tax return, do the following:

1. Organize your files.
Get a manila folder, label it “2011 Tax Stuff,” and fill it with white file folders. Now, get your tax return. Go down the list of income items and deductions (a tax return is nothing more than a complicated income statement when you get right down to brass tacks),