We start Millionaire or Bust off with a tragic story about a local man who was killed by an SUV as he was getting into his car while picking his autistic son up from middle school in our town. We discuss some worrying issues with the way that the newspaper exposed their bank account information in a story trying to raise money for the family. Because of those issues, we won’t link to the story here.
Then we quickly mention another way banks hit you harder than you might expect with overdraft fees. Information is courtesy of an article from money.cnn.com.
Next, we hit the story you’ve probably all waited for us to cover. That’s right, we talk about what the rescue of Fannie Mae and Freddie Mac means for mortgage rates. We reference two stories. The first is from money.cnn.com and the second is from news.yahoo.com. We talk about how mortgage rates, loan availability, loan qualification and loan fees will be affected. Results will differ based on your credit score and the size of the down payment that you can afford to make.
Then we discuss Hurricane Gustav, Tropical Storm Hanna & their affect on oil and gas prices. We discuss an article from money.cnn.com that covers the price fluctuations caused by the weather.
We also very briefly touch on some economic data before explaining some terminology commonly thrown around in regards to inflation. We pull inflation information from money.cnn.com and Inflationdata.com to illustrate our points. Of course, we rant a little about inflation and taxes, so as not to disappoint anyone.
And for anyone interested in some free eBooks, we received a list of resources from one of our listeners, J.L. Coburn.