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Web Typo Costs Dad Over $60,000

Finder's keepers is a refrain echoed on playgrounds, but a Dutch woman might soon use it as her defense in the courtroom. According to DutchNews, a man from Wageningen, The Netherlands made a costly error while trying to transfer funds from his bank account to his son's. With one wrong keystroke, the man sent about $63,500 to a woman's account in Almelo.

While most sane folks would simply return the misplaced money, this unidentified woman went on a spending spree, where she bought a car and paid off her gambling debts. Details are slim, but DutchNews writes that police found about $14,700 in cash hidden at her house. The man is taking the case to court in an attempt to get the money back.

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Web

More People Managing Their Finances Online, Survey Finds

If at all possible, we here at Switched avoid making trips to the bank; on the fun-meter, the visits rank right up there with going to the dentist. Long lines, annoying forms, and rude tellers waiting for us once we walk in the door tend to be the normal experience, and it appears we aren't the only folks that feel this way, either.

CNET News writes of a recent survey by the Gartner Group that found 47-percent of those surveyed within the United States conduct their banking business online. Preference for online banking isn't quite as strong across the Atlantic Ocean, though. In the United Kingdom, 30-percent of those surveyed said they handle their finances digitally. The survey also found that those with larger incomes were more likely to bank online.

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Web

Microsoft Pulling the Plug on 'Money'

Microsoft Pulling the Plug on Money
Microsoft has been trimming the fat recently, and not just by laying off employees. The company is ending entire product lines; 'Encarta,' 'Flight Simulator,' and 'Windows OneCare' have all bitten the dust, and now joining the list of deceased software packages is 'Money.'

The personal finance program, which has been available online since last year, will be taken off the market at the end of June, CNET News reported yesterday. Microsoft will continue to support it through January of 2011. Then, automated feeds from banks and credit card companies will no longer be available via 'Money.'

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iPod, iPhone, Mobile Software

DailyFinance iPhone App Dazzles With Design, Features

Do you find the iPhone's stock widget a bit anemic on features? Tired of shuffling through multiple apps for finance news, stock reports, and keeping track of personal portfolios? Then we highly suggest you download the just released DailyFinance (iTunes link) app. This one-stop application culls the best features of various finance apps, and presents them in an exceptionally handsome interface on par with some of the best we've seen on the iPhone/iPod Touch.

In terms of features, DailyFinance presents a plethora of financial information ranging from general market changes to currency adjustments to commodity prices. Best of all, all the stats are updated in real time, giving you a live view of the world markets in flux. You can, of course, drill down further and view highly detailed facts and figures for any given stock. For instance, a quick search for Apple's stock (AAPL) immediately shows today's low and high price (as well as yesterday's), the company's volume and market cap, and current earnings.

Switching over to the News tab shows any AAPL-related news stories aggregated from over 3,000 sources, and clicking on one opens the corresponding news story within the app itself rather than launching the Safari browser, providing a seamless user experience. Each stock also has a Charts tab that produces an easy-to-read graph of a stock's performance over a set amount of time, from one day up to five years. Even these charts show a fine attention to detail, with lows and highs marked by red and green lines on the x-axis, giving you an easy color-based way to analyze a stock's overall trend.

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MySpace

MySpace Offering Credit Card (Seriously. Stop Laughing.)

MySpace Offering Credit Card. No, Seriously. Stop Laughing.

We have seen no greater example of exactly why we are in our current dire financial straights than the new MySpace-branded credit card. In what we can only assume is a conspiracy by News Corp (owner of MySpace, Fox News and the Wall Street Journal) to ensure that the younger generation will be subject to the same crippling debt that we are, the social networking service has lent its brand name to a credit card offered through a partnership with Citibank and Visa.

We can only assume that Citi and Visa signed on because, at this point, the MySpace name is more trusted than that of the almost bankrupt Citibank and, well, almost any credit card company (which is just plain sad). The card works in conjunction with the "Generation Forward" program, which will reward card holders for spending wisely, going green, and giving back to their communities.

Of course, with a standard annual percentage rate (APR) of 14.24-percent, one of the most responsible things someone could do would be to avoid this card. But really, regardless of the APR, it'd be smart not to trust any credit card offered by the folks that brought us high-angled cell phone self-portraits and endlessly re-posted surveys about people's secret crushes. [From: ReadWriteWeb]

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Video Games, Advice, Switched Video, CES 2009

Real-World Financial Tips From Virtual World Investing Pros



With Wall Street in disgrace and the economy in a nosedive, where should the country turn for financial advice? Would you ever think gamers? Since 2003, players on the massively multiplayer online role playing game (MMORPG) Entropia has been steadily building an economy that now boasts a daily turnover of $1.25 million per day. Entropia sports a real cash economy model of play where monetary units in the game (PEDs) have a fixed 10:1 exchange rate with the US Dollar and players use this currency to purchase anything from weapons and other items to pieces of virtual real estate. In fact, Club NEVERDIE, an asteroid space resort in the game, set a world record as the "Most Expensive Virtual Object" when it was purchased for $100,000 USD in 2007, an investment with an estimated value over $1 million USDs today. The game is free to join but like the real world, it often takes money to make money and many players treat gaming in Entropia like a job.

We had a chance to speak with some of those who have had tremendous success in the game (one player put his brother through college using his earnings) and they had a few words of advice for fallen Wall Street investors, who may have overlooked one of the core tenets of investing:

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Cell Phones, Computers, TV

Surprise! Gadgets Cost Money!


Larry Magid of CBS decided to compare his gadget bills to those of his parents, and ended up wishing he didn't. The network's tech guru found, to what we would have assumed was no one's surprise, we spend a lot more on gadgets than the previous generations. How much more? Well check out the quick list below:

Cost of phone in 1970 - $8 a month plus long distance charges.
Cost of phone now - $90 a month, $50 for cell phone, $40 for land line (more if you also have a Skype bill).

Cost of TV in 1970 - Free. Buy the TV, buy an antenna and you were good to go.
Cost of TV now - $120+ for premium package on cable or satellite.

Cost of Internet in 1970 - Inter-what?
Cost of Internet now - $50 seems to be an average monthly fee for fast DSL or cable.

And that's just scratching the surface. There are also subscription based computer services to contend with, such as Norton or McAfee anti-virus packages, and online services like Yahoo! Mail that charge you monthly fees to remove advertisements.

In the end, according to Magid's math we spend around $6,500 between electricity and subscription fees on our gadgets and electronics, or more than half of the median family income in 1970. [Source: CBS News]

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Latest Reviews from CNET.com

CNET provides the latest tech news, unbiased reviews, videos, podcasts, software, and downloads, making tech products easy to find, understand and use.

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