The price of gasoline tends to vary greatly here in the US. It generally jumps during the summer when demand is highest, then drops off during the winter. Sanctions, disasterss and other international events can also effect the price by reducing supply.
Those spending $3 a gallon at the pumps can take some refuge in knowing that they’re spending half what most Europeans spend on a gallon of petrol. Here’s a chart showing the ten most expensive locations to gas up along with the ten cheapest. As usual, Venezuala leads the world in price due to heavy government price subsidies for residents.
Sierra Leone leads the world with a gallon of gas running $18.40, again supply and demand plays a heavy part in the cost to the consumer.
Considering recent events with Iran, it’s quite possible that a change in gas prices will be forthcoming.
28.Sep.09 
Financial Planning 
Comments (0)
Chase has announced a new service to many of its users named BluePrint. The service allows customers to selectively finance certain purchases for longer periods of time while choosing to pay off other purchases on an accelerated schedule.
According to Bloomberg,
JPMorgan Chase & Co. is betting it can capture market share from credit-card issuers including American Express Co. by helping consumers better manage their debt.
The lender today rolled out Chase Blueprint, an online billing platform that allows 20 million card holders to finance certain purchases while paying others in full each month interest-free. Customers then choose the number of monthly installments, and Blueprint calculates the interest they can save by paying more than the monthly minimum.
JPMorgan Chase & Co. is betting it can capture market share from credit-card issuers including American Express Co. by helping consumers better manage their debt.
The lender today rolled out Chase Blueprint, an online billing platform that allows 20 million card holders to finance certain purchases while paying others in full each month interest-free. Customers then choose the number of monthly installments, and Blueprint calculates the interest they can save by paying more than the monthly minimum.
The aim of the new service is to encourage consumers to increase their credit card use in return for increased flexibility. It’s worth pointing out that using multiple credit cards allows a consumer to manage their debt in the same way, albeit requiring some micromanaging. This said, it’s wonderful that a credit card issuer is working to offer debt management tools and is hopefully a sign that other issues will soon follow suit.
photo credit: Logan Antill
15.Sep.09 Credit Card Debt Comment (1)
After seeing rapid growth in a two-year period, Mint has been acquired by financial-software giant Intuit. An impressive valuation for a firm that began on a shoestring budget offering a free product.
The CEO of mint has written an interesting history of their company for TechCrunch. Some excerpts:
And so here we are two years later. We’ve attracted over 1.5 million users, found over $300 million in savings, managed $50 billion in assets, and helped people track nearly $200 billion in purchases. Most importantly, we’ve helped a lot of people better understand and do more with their money. Thousands of people have told us that Mint.com has helped them pay off debt, control their spending, manage job loss, and even resolve money disputes with their significant other…
…So that’s the Mint story. $0 to $170m in three years flat. While everyone else was doing social media, music, video or the startup de jour, we tried to ground ourselves in what any business should be doing: solve a real problem for people. Make something that is faster, more efficient, cheaper (in this case free), and innovate on technology or business model to make a healthy revenue stream doing it.
This integration of Quicken Online with Mint makes Intuit the owner of two of the largest personal finance software programs on the web.
photo credit: zolierdos
14.Sep.09 Financial Planning Comments (0)
A lot of attention is going to General Motors for their announcement that they will be accepting returns on most of their 2009 and 2010 vehicles. The program allows a buyer to return a vehicle after using it between 31 and 60 days and driving it fewer than 4,000 miles.
Upon return, a consumer is eligible for a full refund including sales tax, however dealer options, trade-in credits, and other options may not be refunded.
GM seems unconcerned that consumers may decide to simply use this program as a two-month free rental stating:
“We think if consumers give us a fair chance and look at the facts on the things that matter most to them, like design, fuel economy, warranty, and safety, our vehicles are the best choices and that’s what makes an offer like this possible.”
The program will only run until the end of November and is limited to one per household. It will be interesting to see if this program is successful or simply allows thousands of consumers to drive Cadillacs free of charge for two months. Of course, if it fails GM can always go with a tried and true strategy: lobby for another bailout.
photo credit: JLaw45
11.Sep.09 Financial Planning Comments (0)
Many consumers have found it increasingly difficult to purchase a used car as a result of the government’s cash for clunkers program. The generous subsidy offered by the government has created a shortage of old cars that is affecting the economy in unexpected ways.
One group that has been particularly affected is that of demolition-derby drivers. Many an old car has met with retirement at the hands of such a driver, but rising prices on used cars is creating a hardship for these daredevils.
According to an article in Time magazine:
“Obama is an anti-demo-derby guy,” says Tory Schutte, head of the Demolition Derby Drivers Association. “He’s targeting the cars we’ve been using.”
Also contributing to the shortage of derby-worthy cars: scrap-metal prices have doubled in the past two years, leading more owners to sell their cars to the junkyard instead of to a local kid with demo-derby dreams.”
Several billion dollars have already been used towards paying dealers an incentive to accept older trade-ins. While an effective means of creating artificial demand for dealers, this program has hurt those that traditionally buy used cars by driving prices up.
photo credit: ThreadedThoughts
10.Sep.09 Financial Planning Comments (0)
CNN is running a story about real american’s interactions with the economy. One anecdote of note involves a crain operator engaged to a hair stylist that, thanks to government assistance, were able to qualify to purchase a $750,000 home.
At the mortgage rate quoted, their mortgage payments come to well over $4,000 a month. A couple would normally need to make at least $144,000 annually to hope to qualify for such a steep payment.
That the government is using tax money to see to it that buyers are able to qualify for loans they couldn’t get otherwise would indicate that our country may not have learned much from the mortgage meltdown.
photo credit: istartedi
03.Sep.09 Upside Down Comments (3)
