On Thursday, Los Angeles prosecutors sued four national retailers for deceiving shoppers into believing they got bigger discounts than they actually did. The separate lawsuits alleging deceptive advertising were filed against Sears, Macy's, Kohl's, and J.C. Penney. The retailers falsely advertised higher regular prices for merchandise so customers, leading customers to think they were getting bigger bargains. California law bars retailers from promoting a higher original price unless the product was sold at that very price within three months of the ad. The lawsuits seek civil penalties up to $2,500 for each violation and injunctions to cease false reference pricing to bolster sales. As it turns out, thousands of "sale" items were advertised at false reference prices. One of the lawsuits asserted that J.C. Penney was selling a maternity bathing suit top online for $31.99 earlier in the year, down from the original price of $46. The top was later marked dow...

Surprisingly, many consumers are. If you've been following the presidential election, Hillary Clinton has gotten the backing of high wattage celebrities including Katy Perry, Lady Gaga, Beyonce, Jay-Z, Bon Jovi, Bruce Springsteen, and Lebron James. And you've likely lost count of the many advertisements you've come across -- whether on TV or in magazines -- where a celebrity promotes a brand of lipstick, shampoo, or jeans as if it were the best thing since sliced bread. But are such endorsements effective? That, of course, depends on the person. If you're a hardcore Paty Perry fan, for example, you'd probably be more likely to buy a product she endorses or vote for Hillary Clinton. Since I'm not a big fan of any of the high-profile celebrities endorsing Clinton, it didn't make me any more inclined to vote for her. Celebrities don't hold much sway over my purchasing decisions unless they're people I genuinely admire and respect. For inst...

What would you do if someone gave you a cheap gift ?  With Christmas just a few weeks away, people are hitting the malls in full force, snagging everything from clothing to electronics. For some people, their holiday shopping list includes a few less expensive items they may plan to give to acquaintances or people they don't know all too well, like their kids' teachers, the cleaning lady at work, and so on. But sometimes we receive what we'd consider cheap gifts even from friends or relatives. This especially throws us for a loop when we've always given the other person higher-quality stuff. Would you feel the gift is a reflection of how much (or little) that individual values you? The first thing one has to determine is whether the person is strapped for cash. If he or she bought you something cheap because they really can't do any better at this time, then it's understandable. Most of us would probably do the same if we were in their shoes. The mere ...

The easiest (and quickest) ways to build wealth include winning the lottery, robbing a bank, or getting an inheritance. Since these methods are either unusual or flat-out illegal, we have to resort to more practical ways that involve a level of effort and judiciousness. Enter the practice of saving. Unfortunately, saving money seems alien to many people I know. No sooner do they get a paycheck than they squander it on expensive things they may not need, like $500 shoes or handbags. What's worse, some blow it in even more egregious ways (think booze, drugs, and casinos). I am a firm believer that every college student -- hell, maybe even high school students -- should be required to take a class on personal finance. Far too many of us go out into the real world not having a clue as to ways we can save money and why it's important to begin doing so at an early age. (The same goes for job hunting, which will be the subject of a future post.) Think about it: If you get in...

We all know at least one person who has squandered his or her money and ended up in dire financial straits, leaving parents, friends, or a spouse with the burden of bailing the individual out. But it doesn't have to be this way! Judging from what people who have ended up as such have told me, I've narrowed down the reasons why people go broke to two primary ones: 1. They want to show off : Some people have a compulsion to have the latest and greatest. Whether it's the newest car or smart phone, they're not satisfied unless their stuff has all the bells and whistles. They wouldn't be caught dead with something that doesn't have the Louis Vuitton, Coach, or Michael Kors logo on it. What these consumers fail to realize that premium brands come with a high price tag. What's more, it's easier to become more oblivious to just how much you're spending when you're using plastic rather than paper. Is it any wonder these people rack up ever-increasin...