Uncle Sam has released images of the upcoming new $100 bill (see pictures above).  The new bill will be released on February 10, 2011 and is the most widely circulated.  The old $100 bill will still be good, but will eventually retire by the new one.  

The new $100 bill shows phrases from the Declaration of Independence and the quill the Founding Fathers used to sign. The rear has a new enlarged vignette of Independence Hall showing the back instead of the front of the building.

New security features have been added to the new $100 bill to prevent counterfeiting which includes:

• The Blue 3-D Security Ribbon on the front of the new $100 bill contains images of bells and 100s that move and change from one to the other as you tilt the note.
• The Bell in the Inkwell changes color from copper to green when the note is tilted, an effect that makes it seem to appear and disappear within the copper inkwell.
• Portrait watermark of Benjamin Franklin
• Security thread
• Color-shifting numeral 100

Do you know your credit card company profile’s you to determine your future credit risk based on your current spending habits?  They called it behavioral modeling.  Using complicated formulas credit card insurers track and study your purchases to determine your credit risk and credit limits.

Purchases that can lower your credit score include:

• Bar tabs – may indicate you enjoy the social scene or drowning your sorrows
• Pawnshop, thrift store – may indicate your are experiencing financial problems
• Casino or racetrack – may indicate you are a gambler and is at risk of missing payments
• Marriage counseling – may indicate you are under domestic stress and possible future financial stress
•  Doctor’s office – may indicate you are not in good health and therefore could be a credit risk

On the flip side purchases can increase your credit score which include:

• Car maintenance and hardware store – may indicate you are responsible in taking care of your assets
• Airplane tickets and hotel – may indicate you have money for extras like vacations
• Doctor’s co-pays – may indicate you are still employed and have health insurance

Due to the recent recession with many people unemployed and/or facing foreclosures, credit card issuers are looking very closely at their customers to determine who is at risk to miss payments.  Residents of states with high foreclosures rates, such as Nevada, California and Texas are considered higher credit risks.

In May 2009 President Obama signed into law Credit Reform.  A part of the legislation directed federal regulators to examine how credit card issuers are using customer information to determine credit limits and credit scores.  Additionally, a report is due next month reporting the affect of credit profiling effect on minority and low-income credit card holders.

Experts believe that cardholders who want to avoid credit score declines should use prepaid debit cards, gift cards or cash.

One way many people get into financial trouble is that they don’t make financial decisions based on what they “need” versus what they “want”.  Yes, we all want “stuff’, but do we really need it!

The recent launch of the Apple iPad had people lining up for hours, even days to be the first to own it.  Most of these people don’t need the iPad, they just want it.  There decision to own the iPad I’m certain is based on emotions and not financial logic.  I’m certain most of these people already own computers and smart phones that already provide most of the features provided by the iPad.  However, with the hype their emotions kick into gear and they think to themselves, “I want that iPad, no matter what!”

If you want to improve your financial situation, you have to start defining what you need versus what you want.   You need food, clothing, and shelter to survive.  You don’t need that expensive pair of shoes, vacation, gadget, or jewelry especially if your financial picture is poor.

Just recently I dropped my cell phone and it broke in pieces.  I wanted to replace it with an Apple iPhone; however, after much research I couldn’t justify the cost.  Currently, I pay $62 per month for cell phone service for 2 phones (for my wife and me).  So we pay $31 dollars each.  On many months we don’t even use all our minutes.  Switching to the iPhone I will have to pay a minimum of $80 per month, which is more than double what I currently pay.  So the question boiled down to do I really need an iPhone or do I just want it.  The answer is I just want it.   

The main reason I want the iPhone is for Internet access.  If I were traveling much for work or didn’t have access to the Internet I could justify getting the iPhone, however, I have access to the Internet most of the day, so my need to access the Internet via a smartphone isn’t needed.

So I decided to hold off on the iPhone and replace my existing phone with a used one I found online for $25 with free shipping versus purchasing an iPhone for about $200 and paying an additional $50 per month for service.  I “want” the iPhone but right now I just don’t “need” it!

How knowledgeable are you about insurance?  You can test your knowledge via The Insurance Intelligence Quiz.  It’s a fast quiz; however, the majority of Americans who took the quiz only answered 40% of the questions correctly.   The questions test your basic knowledge of auto and health insurance. I took the test and scored a 70%.  How did you do?  Leave a comment below.

The foreign exchange market, or forex, FX, currency market is a worldwide decentralized over-the-counter financial market for the trading of currencies. Financial centers around the world act as anchors of trading between a wide range of different types of buyers and sellers 24 hours per day except weekends.  The foreign exchange market assists international trade and investment by allowing businesses to convert one currency to another foreign currency.  As an example, a European company can import U.S. goods and pay dollars, even though the business’s income is in Euros.  The foreign exchange market is the largest and most liquid financial market in the world where traders include currency speculators, corporations, governments, large banks, central banks and other financial institutions.

Forex trading, or foreign currency trading, is when a trader will pair 2 types of currency (i.e., British Pound and U.S. Dollar) that requires more of one currency to purchase another that loses value.  Traders from all around the world monitor currency fluctuation to accumulate currency when it weakens in hopes of selling it when it increases in value.  Forex trading isn’t much different from stock trading where traders try to buy low and sell high.

Traders on the forex market exchange acquires currency by giving a bid/ask quote which states he/she is will to buy for example 2 marks per dollar and sell them at 2.125 per dollar.  Most people who are traders buy the currency via a bank that is paid a commission which has to be taken into consideration to calculate their spread or profit margin when they sell.

Anyone with a computer and some training can become a forex trader.  However, forex trading isn’t an easy way to get rich.  Many people have lost a considerable amount of money miscalculating the market.  There are many training classes and software (or robot trading) promising to help you make money!

Forex trading has increased in popularity over the years and on some days the forex market exchange witness more than one trillion dollars exchanged.

After decades of back and forth bickering and debate, health reform is now law in the United States, thanks to Barack Obama and all the Democrats who fought hard for this change.

So what does healthcare reform mean for you? It means an end to the worst insurance company abuses, new rules that treat everyone fairly, and more choices and affordable health insurance for millions of Americans.

At My.BarackObama.com/ReformInMyState there is a very interesting video of what Healthcare Reform Means for you. The video highlights how Healthcare Reform will affect your state.  

For example, benefits of healthcare reform in Georgia means:

• In Georgia alone 222,085 people with pre-existing conditions will not longer be denied coverage
• Tax credits for 897,000 people
• Tax cuts for 106,000 small businesses
• 30,100 families will be saved from bankruptcy in just one year
• 1.7 uninsured will now be insured
• More choices and more control over their healthcare

You can learn more about benefits reform in your state at My.BarackObama.com/ReformInMyState

Below is a video of supporters of Healthcare Reform.

Related Articles:

• The Facts About the New Healthcare Bill
• Healthcare Reform Polls Makes No Sense
• How Will Healthcare Reform Affect You?
• Keith Olbermann Drive for Public Healthcare Option
• Will Ferrell Stands Up For the Real Healthcare Victims
• What is the Public Option Per Healthcare Reform?
• Why Aren’t Americans Mad About their Healthcare System?
• It’s Time to Fix the American Healthcare Crisis

Chase has introduced a unique cash back offer for home mortgage.  If you get a new Chase mortgage or refinance, you can choose either a 1% cash back or a 1% payment against your principal balance annually when you sign up for automatic payments on a new Chase Mortgage.  That’s not a bad deal!

The 1% Mortgage Cash Back works with any new Chase mortgage or refinance.  The cash back is deposited into your Chase checking account OR applied as a payment against your mortgage principal.

At your loan closing, complete your enrollment in our automatic mortgage payment service with your Chase personal checking account. Your monthly mortgage payment is automatically deducted from your checking account.

For more information visit Chase.com.