There’s been a lot of talk recently about the recent rate cut from the Federal Reserve of 0.5 percent. It was obvious that Wall Street loved it as the market experienced a large upswing, but many others are critical of the move and view it as a Wall Street bailout. What does it mean to your average person though?

Within days of the rate cut, I was informed that the rate on my ING DIRECT money market account was being lowered to 4.3% APY from 4.5% APY. This isn’t isolated however, savings and money markets are lowering rates all over the place.

Those with ARM mortgages might benefit as their loans may reset to a lower rate after the introductory period lapses. This is nice for those that bought more house than they realistically could afford, but interestingly enough, longer term rates have actually increased. These longer term rates are what affect the traditional fixed rate mortgages. So it would seem that the financially prudent will once again be paying to bailout the unwise.

Whatever your view is on the recent rate cut, there isn’t much that the average person can do about it. What we have to be able to do is adapt as best we can to the circumstances that we’re given. If interest rates continue to drop for money market accounts, other options can be explored. The stock market usually reacts positively as interest rates fall which could be helped further as people pour more money in as their cash accounts don’t perform as well.

Most people won’t be noticeably affected by what’s going on, but for those of you who pay attention to these sorts of things, you’ll begin to notice ways that you can take advantage of the changes. It also serves as a reminder that our financial plans can’t be static. We must be willing to make changes and adapt to the changing market and financial conditions.

I’ve been looking at North Carolina recently since I’m applying to the graduate business program at the University of North Carolina. The cost of living happens to be quite affordable and it has many different attractions and places of interest.

You also now have the opportunity to win a FREE Raleigh Getaway so that you can check out the city and see what it has to offer. The package includes a one night stay for two at the Courtyard by Marriott Raleigh Crabtree Valley. You’ll also get a $25 gift certificate to Bloomsbury Bistro, two tickets to the North Carolina Theatre, and two tickets to the North Carolina Museum of Art’s Landscapes from the Age of Impressionism. You’ll also get two tickets to an exhibit at the Museum of Natural Sciences.

Aside from the things that are offered as part of the getaway, there are plenty of other activities to take part in. You can take a Fall Getaway for a weekend and enjoy theatre performances, exhibits, and take part in many different festivals and events. You could also take in a classical music performance or a Trace Adkins performance, whatever your tastes are. So if you’re looking for a new place to visit this fall, check out Raleigh, NC. You might as well at least register to win the Free Getaway.

There’s always a lot of talk in the realm of personal finance about emergency funds. How much should one have? Where should one keep it? I’ve talked about these before on this site, and I don’t want to rehash it all right now. I do however want to mention an aspect that I haven’t really seen addressed.What happens if you’re involved in a true emergency such as a natural disaster? I’m talking about something where the normal infrastructure has either been destroyed or isn’t accessible. Would you be prepared for such a circumstance?

Obviously there are a lot of issues here, but I’m only concerned with the financial in this space. Regardless of how much you choose to keep in an emergency fund and at which institution you decide to hold it, it would probably be a good idea to keep at least some money in cash for true emergencies. When I say cash, I mean actual cash money kept at your home or some other self-designated place.

How much you decide to keep on hand is a choice that you’re going to have to make based on your circumstances and needs. I would recommend keeping whatever you’d need for at least a period of 72 hours. This would obviously be only for extreme cases, but I’m sure you’d be glad to have it if something awful were to happen. Like I stated before, this isn’t your typical emergency fund, but it’s another part of your personal finances that you ought to consider.

This is a sponsored post.The Intelligent Community is designed to improve local communities by providing business facilitation and educational resources for local businesses. It should be of special interest to those in communities of less than 150,000 who have ideas for new businesses but need help getting them started. The Intelligent Community Initiative Website provides these educational materials and the first of them is already up.

Halo 3 debuts: After all the hype and promotion, Halo 3 finally hit stores at midnight last night. Microsoft is hoping this game will finally push its video game unit into profitability. Whether or not it does remains to be seen, but they’re going to sell a ton of these games. I’d also like to know what the sales are on the Halo 3 Mountain Dew.Starbucks together with iTunes: Trendy meets trendy as Starbucks and Apple announced a partnership. Free songs will be given away and “iProduct” users will be able to directly download songs that are playing in a Starbucks. And you thought coffee was expensive before…

Get paid to live in Alaska: Alaskan residents will soon receive a check for about $1,654. The only criteria is having lived there for a full calendar year. These payments come from the Alaska Permanent Fund which was established in 1976 after North Slope oil was found. I’m not sure what it has to do with residents, but if you’re looking to move, Alaska will pay you.

This is a guest post by the rogue league:

Today I’d like to introduce you to a phenomenon known as corporate laugh. The symptoms of this are not totally unlike what some people know as “the bc laugh” (hands on stomach, knees slightly bent, head leaning back). The purpose is simple: impress people. Corporate laugh is found in job settings, usually when a boss is present among several peons. Most peons don’t want to forever remain in their peon state, and some of them reason that if they make it well known that, indeed, their coworker and/or boss really is that funny, this will help them move up the corporate ladder. The laugher is trying to show that either a) he’s got a great sense of humor, ergo, he’s a team player, or b) he thinks his boss is so hilarious that he’d bend over backwards to please him. Either way, the laugher’s goal is to ultimately win a promotion or some other type of official recognition from a higher-up.

I pose a question: what could possibly be that incredibly funny? Is the boss moonlighting as a stand-up comedian? Does he just do killer routines down at the bar on the weekends? Or is it possible that the coworker slipped into “boss mode” and he’ll just laugh at whatever unfunny piece of rubbish that flies out of his superior’s mouth?

I make a plea to all the corporate laughers out there: take a clue from your fellow coworkers who suddenly go scrambling for their iPod and ear buds upon hearing your screeching/cackling/whatever other annoying style of over-zealous laughter you may use. I don’t personally agree with your brown-nosery tactics, but i acknowledge your right to employ them. Just please do us all a favor, drop it down a few hundred decibels, and let us work in peace and quiet.

When I first started this site, I wrote about financial statements; in particular, the balance sheet and the income statement. People typically think of these in conjunction with companies, but they can be incredibly useful for individuals as well.

If you don’t already use these financial statements in your personal finances, you should probably start with the income statement. If you’re unfamiliar with how it works you can check out the above link and email me with questions. The reason I suggest you begin with it first is because it allows you to get a handle on all of your expenses. Most people are very aware of how much money they have coming in, but they need to do a better job of keeping track of where their money goes. Keeping a personal income statement will also tell you whether or not you’re spending more money than you’re earning, and by how much.

Once you’ve got a handle on the income statement you can move on to the balance sheet. From the balance sheet you will determine your net worth. As you continue to update your balance sheet you will be able to see the trend in your net worth. Hopefully you will see it continue to increase.

The most important aspect of these financial statements, however, is that they allow you to make informed decisions about your finances. You’ll be able to determine how certain expenditures or purchases will affect your overall financial picture. You’ll also be able to better formulate a plan that will get you where you want to be and allow you to reach your goals.