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Emily’s list: Midterm election edition

Emily Crone

Many Americans don’t pay much attention to midterm elections. This year was a little different. Though it’s been less than two years since he took office, many Americans have voiced frustration that President Obama hasn’t done enough to fix the economy. His approval ratings have slipped. On the other hand, conservatives think too much has changed — that there has been overspending, and that the government has become far too big with things such as the health care reform bill and Wall Street reform bill.

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For the past few months, partisan politics has been in full force, especially with the advent of the Libertarian-leaning Tea Party movement. Citizens were angry and ready to vote. On Nov. 2, the Republicans overwhelmingly took back the House of Representatives. The Democrats held onto the majority in the Senate, but just barely.

Republicans have declared that they plan to repeal the health care act and replace it with more-minor reforms. Some of my friends in grad school have already felt the positive effects from it, such as being permitted to stay on their parents’ health insurance one more year. I wonder if they can take away changes that have already gone into effect. It seems like backpedaling to me to spend time undoing something that just took so long to do! But such is politics. It’s always an ebb and flow, with parties switching power every few years. I’m interested to see how these power changes affect everyday Americans like me. What do you think will change?

Please read on to learn about my top 10 favorite personal finance blog posts from the past week.

1. Dinks Finance explains why it is important to learn financial values at a young age, and gives their four financial lessons to live by (including a key one about credit).
2. I’ve written before about how my upcoming marriage will change the way my finances go. I was happy to read that Christian PF says combining your finances can actually improve your marriage.
3. Not sure if you need credit? One Money Design offers reasons for why you should and shouldn’t have a credit card.
4. Green Panda Treehouse explains what steps you need to take when your credit card has been stolen.
5. Feeling guilty for not wanting to blow your money giving bad waiters big tips? Len Penzo explains why you shouldn’t feel badly, and why tip inflation has happened.
6. Free From Broke discusses how the Credit CARD Act of 2009 has affected college students and how the credit card companies are reacting.
7. Frugal Confessions enjoys watching the “How Am I Doing” section of Suze Orman’s show, which helps consumers assess their current financial situation by giving them a grade. Because not everyone has the chance to do that, she provides some fantastic tools and instructions on how to calculate your grade yourself.
7. Do you frequently receive credit card solicitations in the mail? Financial Highway tells readers the three things they need to know about these solicitations if they consider acting on one of them.
9. Ask Mr. Credit Card explains why he’s not so sure that these fancy new technologies being developed by credit card companies will actually benefit consumers.

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  • If only we could break free of the party system then maybe we could get something done in DC. Too many have a one-mindedness that their party is always right.