Penny slots making lots of cents in Missouri

Posted by Brian Redhead


Gamblers may be cutting back like other consumers, but one thing they're not doing is pinching pennies.



Their spending on penny gambling machines produced about one-fourth of all slot machine revenue in Nevada last year, and more in other states. In Missouri, one of few states where gambling revenue rose in 2008, more than half of all casino revenue came from penny slots. For many casinos, penny slots are producing the only kind of revenue that's rising.



Gamblers say they like the machines -- which were impractical before quiet paper payouts started replacing the tumbling bucketfuls of coins in a jackpot -- because they can play longer for the same amount of money.



No matter that casinos like penny slots because they're more lucrative for the house.



"It's all just for recreation," said Kansas City resident Cora Logan, 72, who was playing a penny slot machine at Isle of Capri in Kansas City on her 42nd wedding anniversary. "When you come here, don't expect to win. If you put a lot of money in these you're crazy." Click here to read more.

'I Had the Money. So Why Not?'

Posted by Yen Ho
Written by Paul Schwartzman

Alexa Choi did something recently that most Americans are avoiding. She spent money. Lots of it.

On Christmas Eve, Choi went to a BMW dealer in Fairfax County and bought a black 2009 sedan. Her mother's objections did not deter her. Nor did the fact that the value of her investments had shrunk by 40 percent. And that $48,000 price tag? No sweat.

"At the end of the day, I knew exactly what I wanted," said Choi, 31, manager of an Arlington County-based technology company. "I needed the car, I had the money. So why not?"

Link

4 Ways to Build Credit

By: Alcides Hoy Jr.

So with the recent economic crisis everyone credit is either falling or staying stagnant. Now everyone is trying to figure out how they could raise it or at least get it out of the bottom tier that most are in. Here are 5 ways that you could build credit and or fix your current credit that might not be in a good economic state:

1. Get a Checking and/or Savings Account- These accounts help credit lenders to see that you have means of stability. Also it allows them to see that you own something that they could collect in the event that you are unable to make payments. In many cases the more money you hold int these accounts, the higher credit lending you will receive.

2. Department Store Card or Gas Card- Usually department stores cards are easier to get and they do not come with as much risk as many major credit cards would. Gas Cards will allow you to be able to pay for gas at a later date but as well build your credit along the way. Try to monitor the number of cards of these types you get because sometimes you could go beyond what you could pay monthly.

3. Gaining An Understanding of Credit Scores- Nowadays many people don't even take the initiative to find out how the credit score system works. In many cases its in your best interest to find out how you can receive the highest credit score possible so that in your favor you could receive highest credit lending.

4. Take Out a Short Term Loan- In these cases lenders get EXCITED to see that you have received prior loans. This shows that your payments are more reliable and that they will almost guarantee their payments every month.

Time to Buy Your Dream Car

By Alcides Hoy Jr.

With our economy in a recession it seems all industries are suffering, including the auto industry. Now might be just the right time to capitalize on the major deals that car companies and rental companies are offering. Once big time companies Toyota, GMC, and Ford are falling nearly fifty percent below their last years sales mark. If you are interested in having in those big trucks GMC is in a position where they are going to try there best to accommodate the price you are trying to work with. I read this one article and they showed a picture of a Ford car dealer lot. Just nearly all of their 2008 and some of 2009 cars are already on sale. If I didnt have a car I would look to companies such as Toyota who in the last year havent been able to compete with european companies within their market. So right now if you looking to buy a car go down to one of these companies dealers and give them your lowest price first.

Sources:
http://money.cnn.com/2009/02/03/news/companies/auto_sales/index.htm
http://www.foxnews.com/story/0,2933,232068,00.html
http://www.freep.com/article/20090203/BUSINESS01/90203051/0/BUSINESS06

Tips & Tricks: Credit Cards

By: Alcides Hoy Jr.

So I was thinking of ideas fro the first blog and I couldnt think of anything. Then I thought at a time like this what is more informative for my classmates than ways to find and maintain a proper credit card. As students the one thing we should look for is a credit card with a good rate. Many times since we are just turning the eligble age to have our own credit card, these companies try to send us credit cards. Not just CREDIT CARDS but the ones with the the highest rates. They will sometimes tell you things like YOU CANT BEAT THIS RATE thinking that as young adults we dont know how the rates are. Here is a video I think everyone should take a look at about Predatory credit card lending to college students.

The Credit Score Blues

By: Alcides Hoy Jr.


I found this video that's pretty funny but also interesting to many of us who don't know much about credit scores. Click to view video