Word: credit-card
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...executive--who generally believes that workers should save as much as possible in their 401(k)s--says if Caldwell made a mistake, it was probably by putting money into a 401(k) in the first place. What many people forget is that you need to pay down your credit-card debt and build up your emergency cushion first. Otherwise when a need for cash arises, you end up raiding your retirement account and paying penalties and taxes on every dime you withdraw. Blandin advises that if you have an inkling you'll want to use your savings...
...Washington. "All of 2001 reminded me how vulnerable you are. I couldn't find a job. My older brother got laid off. My mom got divorced. I lost a friend in the World Trade Center. I do want to start saving again. But I'm going to pay my credit-card debt down first and get an emergency cushion. Because you never know when something crazy is going to happen...
...Amount nearly half of all college-tuition debtors owed in credit-card debt that same year...
...however, Dell has muted the naysayers by tweaking its strategy where necessary. In Beijing, for example, the company's delivery drivers carry wireless debit-card machines so customers can pay when their computers arrive, a system that solves the credit-card problem. Today, Dell offers next-day delivery from its factory in Xiamen to 400 cities and towns. And Dell's China market share has grown from near zero in 1998 to 4.4%. That may not sound impressive, but Dell has eclipsed Compaq and is pressing IBM for the top foreign-brand position. In the lucrative segment for corporate server...
...Seoul has also unleashed long pent-up consumer demand by easing limits on credit-card use, among other measures. Koreans were once avid savers, encouraged by government policies designed to funnel domestic capital to industry to bulk up manufacturing capacity. Today, citizens are shopping more and saving less?South Korea's savings rate measured against GDP has declined by 10 percentage points since 1987. In the rest of Asia, by contrast, domestic savings rates have remained at Scroogian levels...