Personal Finance 

Bankrupt Retailers, Bankrupt Campaigns & Just Banks

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You can delay the reaper but you can rarely totally avoid him and this past week Linens ‘n Things filed for Chapter 11 bankruptcy, a few weeks after they were originally predicted to have succumbed. If you read my post about how they were going under and how you shouldn’t hold onto gift cards, then you wouldn’t be one of the 400,000 customers stuck with $42M in worthless gift cards.

Mrs Micah talked a little about contributing to presidential campaigns and how the contributions amount to very speculative investing. It’s an interesting thought, especially after noting people contributing to “lost cause” campaigns like Huckabee’s, that definitely gets you thinking. I was never one for political campaign contributions, I think my money is better served going towards health/medical related charitable causes.

Lastly, I did a roundup of the best high yield savings accounts.

{ 5 comments, please add your thoughts now! }

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5 Responses to “Bankrupt Retailers, Bankrupt Campaigns & Just Banks”

  1. appfunds says:

    Look at real inflation rate in the US.
    If you keep your money in any savings account, you burn it anyway.

  2. Mrs. Micah says:

    Thanks for including it, Jim. I also prefer to donate to an organization which helps with world health.

    The LNT bankruptcy saddens me a bit because we’ve gotten some good stuff there. But I never held on to the gift cards. Relief there, because sometimes I do….for my favorite crafts store I’ll spend them over a year.

  3. saladdin says:

    Come on appfunds. Where do you want me to put my emergency fund? In gold? Stocks? What about the Euro?

    There is a difference between savings and investing.


  4. appfunds says:

    I dunno. I just wanted to say that in reality all of these fancy saving accounts in dollars burn your money. You lose your money keeping it there. That`s all.

  5. I always spend my gift cards when I get them.. I have a lot of acquiantances that lost gift cards money with Sharper Image..

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