Military families will not have to worry about having to get payday loans or other support now that Congress has averted a government shutdown. Image from Wikimedia Commons.

The United States Congress recently passed the federal budget for fiscal year 2011 after a long standoff. Among concerns about a possible government shutdown were that military service personnel would have to resort to payday loans and other financial means if a deal could not be made. Thankfully, the shutdown was avoided.

Shutdown could have crippled families of deployed personnel

Congress upheld a budget for Fiscal Year 2011 for some time, and the past few weeks were fraught with tension over a possible government shutdown. Thankfully, the shutdown was averted, but it was well known that Congress would have continued to receive their pay while thousands of government employees would have gone on a forced furlough. Thousands more would have been forced to work without pay. Members of the military, for instance, would not be paid for their work during a shutdown. Federal regulations prohibit service personnel from getting payday loans or similar subprime credit products, and most service personnel, according to MSNBC, make close to the average wage in America, it would have been a devastating blow to military families.

Military personnel salaries

Nearly three of every four people in the armed services are in the six lowest ranks and are paid $31,000 a year or less. The Bureau of Labor Statistics estimates median earnings in the United States at $36,587 per year and mean earnings at $44,901. By either criteria, with median being the middle and mean being the average, military personnel are low on the income ladder. A 2008 Department of Defense survey, according to the Washington Post, indicated many service families struggle with debt. Bankruptcy rates for military members may be higher than the general population as well; a 2004 study by the Government Accountability Office found that 1.2 percent of active duty military personnel file for bankruptcy. Federal court statistics indicates that more than 1.5 million people filed for bankruptcy in 2010, which is 0.5 percent of the U.S. population.

Dire straights for those in harm’s way

The people who elect to serve this country do not get rewarded much for their efforts. There are also incentives to not go into debt; service members can lose their security clearance if they fall into unmanageable debts. Granted, had the shutdown occurred, there would have been options for some people. The Naval Federal Member Bank offered low interest personal loans to members in case of a shutdown, like other credit unions and banks for federal employees have done in previous shutdowns.

Sources

MSNBC

Washington Post

Bureau of Labor Statistics (PDF – Requires Adobe Reader)

Federal Court statistics on bankruptcies (PDF – Requires Adobe Reader)

Government Accountability Office (PDF – Requires Adobe Reader)

Think banks will still love their customers after more stringent overdraft laws are in place? Don't be surprised when more banks simply fire their customers. (Photo: ThinkStock)

Bank overdraft fees have been a thorny issue for consumers who have argued long and hard that a single $.01 in the red transaction should not trigger a $35 penalty plus additional daily penalties. Congress has listened to consumers, and recent financial reforms voted into place will affect just how much banks are able to collect from customers who overdraw their accounts. According to Consumer Reports, losing such a major source of income may prompt banks to “fire” customers.

Banks without their overdraft fees will not go quietly

Instances of overdraft fees are at a 10-year high according to BBC News, and the numbers are similar in the United States. The Federal Reserve recently clarified the changes to come, reports the Kansas City Star, and one look at what’s to come could make a banker sweat like they do when they lose business to no credit check payday loans companies. If they can’t rake in obscene profits from overdraft fees, then banks need to stop the bleeding caused by careless customers. As new customers will by law no longer be automatically enrolled in overdraft protection schemes after July 1 (after August 15 for existing customers), bank income will decrease dramatically.

How dramatically?

The convenience of free checking is made possible by overdraft fees, claims the Boston consulting firm Celent. Their report “Reg, Reg, Go Away: Sorry Banks, They’re Here to Stay” indicates that up to 50 percent of all revenue generated for banks by retail checking accounts comes from overdraft fees. Consumer Reports points out that the new rules governing overdraft fees don’t eliminate fees charged to cover checks or recurring bill payments, but they will crack down on debit card purchases that induce overdraft. Considering that 41 percent of overdraft fees come from debit card transactions, that’s a big chunk of change that banks will lose.

Which leads to the friendly ‘banks fire customers’ policy

Celent advises banks to simply shut down accounts of customers who are simply too expensive to keep. Where that line will be drawn remains to be seen, but all banking customers should take heed and make sure that they have enough money in the bank when they go to make a purchase or payment. Of course, no credit check payday loans and military payday loans will always be an option for those emergency situations were fast cash is necessary. They are much better alternatives than being fired by your bank for overdrafting your account.

Sources:

Consumer Reports

BBC News

Kansas City Star

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Advancing in the Navy means performing well on the Navy Advancement exam, among other things. Image from Flickr.

The Navy Advancement exam and Navy Advancement results are a time of excitement and stress for many Navy Recruits. Navy Advancement results are made available on NKO – Navy Knowlege Online. In determining who should advance in the Navy, the Navy Advancement results are used to “differentiate among fully qualified candidates.”

Navy Advancement exam

The Navy Advancement Exam is a 200 question test used to determine knowledge and understanding. Used for E-4 to E-7 ranks, this test questions sailors on everything from Navy Occupational Standards to Professional Military Knowledge. The military does not provide specific classes for Navy Advancement – instead, it expects sailors to study on their own. Performing well on the Navy Advancement exam is one important step in moving up the ladder, increasing pay and reducing the need for payday loans.

Studying for the Navy Advancement Exam

Just because sailors are expected to be self-motivated on the Navy Advancement exam does not mean there is not help. There are courses, including Nonresident Training Courses that help sailors study for Navy Advancement. There are also downloadable bibliographies (known as “bibs”) that can be used to study. All in all, the Navy Advancement exam is set up to be challenging, but not impossible.

Navy Advancement Results at NKO

The NKO — or Navy Knowledge Online service — is a servicemember-only website where Navy Advancement results are posted. You can log into the NKO with your CAC information. If you are a family member or friend of a sailor, you will not be able to check the Navy Advancement results directly on the NKO, no matter how curious you may be.

Pay after Navy Advancement

Of course, one of the best things about acing Navy Advancement results is the possibility of a promotion within the Navy. Promotions mean higher pay as well as more responsibility. An E-4 to E-5 rank promotion means an additional $200 each payday. Each year, the military is granted a cost-of-living increase in pay. In 2010, this increase amounted to almost 3.5 percent.

The Moscow subway system has the second-highest ridership in the world, second only to Toyko. Image from Flickr.

This morning, two subway stations were rocked with bomb blasts in the Moscow subway explosion. Just before 8 a.m., a female suicide bomber detonated her explosive belt in the Lubyanka subway station. Forty minutes later, a bomber detonated her explosives at Park Kultry station, which is on the same Moscow subway line. Militant separatists from Chechnya, some known as the “black widow bombers,” are suspected. Moscow police are using military payday loans to investigate the dual explosions.

Moscow subway explosion injures dozens

The casualty reports for the Moscow subway explosion are still coming in. Most news sources are reporting about 38 individuals dead and another 65 injured, at least 30 seriously. The first Moscow metro explosion occurred just before 8 a.m. local time, at the Lubyanka subway station that is directly below the Moscow intelligence headquarters. The second Moscow subway explosion occurred 40 minutes later, at a subway station on the same red line, but several miles away.

Chechen ‘black widow’ bombers blamed for Moscow subway explosion

Most reports from the FSB (the Russian security agency) are laying blame for the Moscow subway explosion at the feet of North Caucasus rebel groups. The North Caucasus region was, at one point, an independent nation. However, it is now considered a Russian federal subject. While he has not claimed responsibility, Doku Umarov, the leader of the biggest Chechen rebel group, stated on Feb. 15 that there would be a “fresh campaign of terror on Russian soil.” It is suspected that the suicide bombers were all female and members of the “black widow” group of extreme Chechnya separatists.

Moscow subway explosion spurs heightened security

In metro stations and subway stations around the world, security was on high alert today. In Tokyo, the only subway system with higher ridership than Moscow, extra security patrols were on-hand. In London, police were doing sweeps with bomb-sniffing dogs. New York City, already on edge because of Najibullah Zazi entered a guilty plea to planning a subway bomb attack, also had bomb-sniffing dogs and extra police patrols. Washington, D.C., continued with the heightened security that was already on-hand for a planned mass transit disaster drill. New York City is planning to send one investigator with an expense credit card to Moscow to study the Moscow subway explosion.

See news of the Moscow subway explosion here

Sources

Washington Post
BBC News
Reuters

Shipping container homes have a long history of green building. Image from Flickr.

In countries recovering from natural disasters, such as Haiti and Chile, rebuilding housing is simultaneously one of the most important and most difficult tasks for recovery. In developed countries, there is always a demand for housing that is inexpensive, durable and environmentally friendly. Recently, UK company Affresol announced it was launching a line of modular homes made out of recycled plastic waste. If you are looking for a new type of house to buy with your mortgage loan modification, Affresol is claiming that these recycled waste homes can be put up in four days and less expensively than traditional building. However, is living in recycled trash a good option?

Affresol’s Thermo Poly Rock homes

The newest player in the recycled housing market is Affresol’s Thermo Poly Rock manufactured homes. As Business Wire reported, these homes use approximately 18 tons of recycled plastic waste in each full-size home. The patented process takes waste plastics and processes them into a rot-resistant, well-insulated, waterproof, fire-retardant material that is stronger and lighter than concrete.These homes are estimated to cost about 12 percent less than traditional construction, as well.

The estimated life cycle of these homes is 60 years – well above the Indiana University estimate of 14 years for traditional manufactured homes, but well below the 80-120 year life cycle of new construction. However, all the materials in these TPR homes can be recycled at the end of their lives, unlike new construction.

Other options for recycled housing

Affresol’s recycled TPR houses are not the only options for recycled housing, however. There are many options out there for recycled housing – some that have been fully realized and are being used around the world. Other recycled housing concepts are pretty much only concepts — but offer promise. Much life Affresol’s recycled plastic houses, these concepts each have their benefits and drawbacks

Recycled shipping container homes

Shipping containers are pretty much the definition of recycled living. Flexible, plentiful and relatively easy to move, shipping container homes have enjoyed quite a bit of press over the years. The incredibly sturdy steel containers are stacked and used in place of traditional wood framing. They still must be insulated, wired, and plumbed, but the $60 to $90-per-square-foot price tag is incredibly attractive.

Members of the U.S. Military have already had experience with offices and living quarters built in a similar method, and military payday loans are enough to start a recycled shipping container project. Traditional home building usually costs between $150-$300 per square foot. The Lego-like flexibility of shipping containers can also lead to a wide variety of designs, as the DesignCrave photo essay proves.

Earthship recycled homes

Much less flexible and portable than shipping container homes, but more insulated and airy than Affresol’s TPR houses, the Earthship design maximizes environmental factors.

First designed in the 1970s, a “classic” Earthship house starts with old recycled tires. To build the house, recycled tires are crammed full of soil and stacked as the north, east, and west walls of the house. The southern face of the house is usually made of glazed glass to make use of passive solar heating. These homes are made almost exclusively of recycled materials and most suited for climates similar to the Southwestern U.S.

Traditional homes out of recycled materials

Many builders are beginning to realize that, more than the construction of a home, it is the materials that truly make a difference. Many builders around the country are beginning to specialize in recycled material homes, proving that homes made with reclaimed materials can be just as safe, just as beautiful, and much less expensive than traditional building.

Recycled housing: Options for rebuilding devastated areas?

Of course, having a recycled and sustainable home only does good if it can actually be used and lived in. Obviously, we cannot ask countries, states or cities that are just beginning to rebuild from disasters to spend more money and time on using “environmentally friendly” construction techniques. However, with options such as the Thermo Poly Rock and recycled shipping containers that get cheap, safe housing up quickly and inexpensively, there doesn’t seem to be a reason to not consider recycled housing.

Look no further, we can help you!

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Of course, the Magic Jack that provides with cheap landline long-distance service has been around for years, but the Magic Jack featured at the 2010 Consumer Electronics Show is special. As the Christian Science Monitor explains:

“MagicJack, the device that promises next-to-free long-distance calls by creating a way to plug landline phones into Internet-connected computers, is set to release an updated gadget that will do the same trick for wireless phones.”

In case you were wondering, yes, that means the not-yet-released  Magic Jack uses radio frequencies that cellular carriers have paid billions of dollars to get licensed. Don’t worry, says company CEO Dan Borislow, “wireless spectrum licenses don’t extend into the home.” So I am sure that is the last we will hear about that. And there won’t be any debate about

2. 3D TV technology

For several years, the Consumer Electronics Show has brought the promise of amazing 3D imaging devices to come. It appears CES 2010 might just mark the year when it really got started. Discovery, Sony and Imax signed a deal saying by the end of the year they’d create an all 3D channel. Sony says the 3D TVs at CES 2010 will be available by Christmas this year.

3. AR.Drone

This device about twice the size of a Frisbee, that hovers a few inches above the ground. You control it with an iPhone, and you can use it … to spy on people? It has a camera that sends live video feed of what it sees to the phone. Considering the size and creepiness factor, I don’t think it has a lot of practical applications, but it has certainly gotten a lot of attention.

4. Phones, phones, everywhere

New smartphones, or super phones, or whatever we are calling them now, were a huge theme at CES 2010, even though many of the products getting the attention were not revealed nor displayed at CES 2010. AT&T’s recent announcement that the Dell Mini 3 will soon be available in the U.S. created a lot of buzz in the electronics world, and the Google Nexus One is still at te top of the list of items that people are itching to see/use/learn about.

5. Elephant in the room?

InformationWeek says there was a “virtual elephant in the Las Vegas Convention Center.” Apple’s impending release of a “tablet device,” which supposedly will do everything. It’s supposed to be ” an all-in-one device that is half-iPhone, half-Macintosh computer,” says CNN, and it’ll wipe all other computers and cellphones off the planet. So, I’ll just be holding my breath for that.

My hours at work were scaled back right before my rent was due and I feared I would soon be homeless. That was when I decided to look into getting a payday loan. I have always been a self sufficient person and I never imagined that I would qualify for a short term loan. So when my pay check was a couple hundred dollars short, I went online to Personal Money Market and found out that I could get an instant loan that required no faxing for up to $1500. I was so relieved when I found out how easy it was to get the quick loan that I needed to keep my home.

Personal Money Market Can Help You Avoid Many Stressful Situations

A couple months later I found myself in another situation. I went outside one morning to go start my car and I noticed I had a flat tire. I looked a little closer and saw a piece of sharp metal poking out of the rubber. I was totally freaked out because I could not be late to work again. What was I going to do? Then I remembered how I could go online and get a no fax payday loan. I was so impressed from my previous experience with Personal Money Market that I didn’t hesitate to press the apply button. I got the short term loan I needed at just the right time.

Online Military Payday Loans Even Helped My Friend

A friend of mine who is in the army, used to go to one of his towns local money stores, but he always felt like he was treated like a second class citizen. The fees were way too high and the process was long and redundant. That’s when I told him about Personal Money Market and that they have instant loans even for the military. Military payday loans are unheard of these days, but my friend sure appreciated the fact that he could get an online loan in as little as two hours and wouldn’t be turned down just because he serves his country.

Personal Money Market Is The Only Store For Me

All because of Personal Money Market, I was able to save my home, get new tires, and help my friend get the quick loan that we needed. This is the best company I’ve ever dealt with when it comes to getting emergency no fax cash advances and I will continue to use Personal Money Market whenever I am in cash crunch.

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