Every Friday, Ken and Daria answer a question from a WalletPop reader. This week, they tackle a question that has come from dozens of WalletPoppers: Where is the best place to invest my money now? If you're wondering what's ahead for the market and your investments in the new year, you'll want to watch today's video! Read more!

WalletPop Wire

Google goes local: Possible Yelp buy would change the way we shop, find our fun

Barbara Hernandez Dec 18th 2009 @ 6:30PM EST Filed Under: Technology

In a move sure to change the way we shop and find our entertainment, Google is in serious talks to purchase Yelp, one of the vanguards of user-generated content and reviews on the Web, for around $500 million, it was reported today.

Yelp, which relies on free user reviews (meaning no pay) and selling spots at the top of the search lists to advertisers for $300-$1,000 a month, is set to make $30 million in revenue this year.

The move ties in neatly with Google's recent announcement of Google's Favorite Places, where businesses and restaurants will be identified with barcodes read by smartphones. The electronic barcodes could impart significant data to one's phone such as product reviews, price comparisons and coupons to on-the-fence shoppers mulling over a purchase.

Continue reading Google goes local: Possible Yelp buy would change the way we shop, find our fun

Advice to first-time home buyers: Look before you leap

Amy Pyle Dec 18th 2009 @ 5:00PM EST Filed Under: Real Estate, 101 mortgages

The deals are enticing for first-time home buyers and glimpses of recovery add a dose of urgency, but now may not be the right time for newbies to get into the market, according to attorney and real estate broker Dale Robyn Siegel.

Siegel, whose new book, The New Rules for Mortgages, expands on this premise, warned that the burst real estate bubble has left more than wet suds in its wake. Home buyers with limited credit will find their interest and down payments higher and their access to second loans to help with the down payment virtually nil.

To complicate matters, changes are being contemplated in FHA assistance, she said, including a possible increase in required down payment to 5% and a decrease in the allowed seller concession to the buyer from 6% to 3%.

Continue reading Advice to first-time home buyers: Look before you leap

Overspending to blame for missed savings goals

Josh Smith Dec 18th 2009 @ 4:30PM EST Filed Under: Budgets, Saving Money

Bad habits are hard to kick and new data from an informal poll of 700 readers at Get Rich Slowly and Money-Rates has revealed that "poor spending habits" are to blame for a majority of individuals missing their savings goals in 2009, not the recession.

"It's a little disturbing that even in tough economic times, so many people were unable to rein in spending," MoneyRates.com spokesman Richard Barrington said in a press release. I have to agree with him, even if I fall into the majority myself.

Continue reading Overspending to blame for missed savings goals

Celebrate the season with a Christmas cocktail

Jennifer Horn Dec 18th 2009 @ 4:00PM EST Filed Under: Food, Saving Money

'Tis the season for holiday cheer! I love hosting Christmas cocktail parties and ornament exchanges for my friends, family and co-workers, but these parties can get expensive. The bar budget alone can cost more than the food you serve, especially when you attempt to stock a full bar. My solution? I offer soft drinks, white and red wine and one signature cocktail.

The signature cocktail is festive, goes with the theme of your party, allows you time to interact with your guests (instead of mixing drinks) and saves you money. Instead of buying all kinds of alcohol and the mixers to match, you can focus on a few ingredients. Voila! An easy, stream-lined party.

Here are a few of my favorite holiday cocktail recipes that are festive, fun and won't break an already over-extended holiday budget:

Continue reading Celebrate the season with a Christmas cocktail

Teens 5 times less likely to sext if parents pay phone bill

Barbara Hernandez Dec 18th 2009 @ 3:30PM EST Filed Under: Extracurriculars, Kids and Money, Technology

About 15% of children 12 to 17 say they have received sexually suggestive images, or sexts, on their cell phone, while only 4% admitted to sending images of themselves, accord to The Pew Research Center/Pew Internet & American Life Project, which released results of a study called "Teens and Sexting."

The study found that by age 17, about 30% have received nude or nearly nude images on their phone.

The study also found that teens feel less comfortable sending or receiving sexually suggestive images if they're not footing the bill. Teens whose parents pay for their cell phone were five times less likely to send sexts (3%) than teens who pay their own bill (17%.) That's good and bad news for parents, but since about 70% of teens' cell phones are paid by someone else, it's probably the most effective deterrent.

According to research, teens said that there were three reasons for sexting: sending images between a dating couple, images shared with others outside the relationship and where two people aren't in a relationship but at least one person hopes to be.

Continue reading Teens 5 times less likely to sext if parents pay phone bill

How to get caught committing insurance fraud

Geoff Williams Dec 18th 2009 @ 3:15PM EST Filed Under: Fraud

The Insurance and Financial Advisor, a Web site that covers the news of the insurance industry, reported that Daniel Macken, of Wrigleyville, Illinois, is under arrest, charged with the felony of insurance fraud. Apparently, Macken, 60, took out two life insurance policies, worth $200,000, on himself. Then, posing as his own beneficiary, Macken tried to convince the insurance company he had died, backing up his claim with numerous forged documents. It didn't work, and Macken is very much alive, as authorities verified when they arrested him on December 7.

Interesting story, but hardly new. Insurance fraud has been going on for centuries. There's even a classic film noir about insurance fraud, 1944's Double Indemnity. The Coalition Against Insurance Fraud, a watchdog group that's been around since 1993, collects stories of insurance fraud, and every year, they have an annual hall of shame.

Continue reading How to get caught committing insurance fraud

FTC privacy complaint launched against Facebook

Barbara Hernandez Dec 18th 2009 @ 3:00PM EST Filed Under: Technology

Eight groups have filed a complaint with the Federal Trade Commission to investigate Facebook's new privacy settings for its 350 million users. The 29-page complaint accuses Facebook of deceptive practices, violating "user expectations" and diminishing privacy.

The ringleader is the Electronic Privacy Information Center, a Washington, D.C.-based group focused on civil liberties, although it's also joined by nine other consumer protective groups, including the American Library Association, in the complaint.

Continue reading FTC privacy complaint launched against Facebook

Important credit card rate change notices disguised as junk mail

Lita Epstein Dec 18th 2009 @ 2:30PM EST Filed Under: Credit, Debt, Credit cards

Credit card companies are racing against time and sending out a flurry of mail, hoping to implement last-minute changes before the February 2010 deadline when the CARD Act takes effect and credit card companies must play by the new rules set by Congress. Ignore the mailings and these changes could cost you hundreds, or possibly thousands, of dollars.

If you don't want that to happen to you, you must act and opt out of these changes to avoid the new costs. Of course, before you can do that, you have to first open and read the mail.

Continue reading Important credit card rate change notices disguised as junk mail

Debt Diet Part 6: Holiday meals in a final weekend of shopping

Gina Roberts-Grey Dec 18th 2009 @ 2:00PM EST Filed Under: Budgets, Debt, Economizer

According to a recent survey by Fidelity, putting budgets on a diet is topping many American's list of resolutions for 2010. But WalletPop Debt Dieters have been one step ahead of the curve, dieting since the official start of the holiday season.

Our band of debt-conscious consumers have learned how to decorate tables on a dime and show your money a little respect. But as you head into the last weekend of the shopping season, analysts say dieters are going to need more will power and support than ever before.

Continue reading Debt Diet Part 6: Holiday meals in a final weekend of shopping

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