Personal Finance News

What could be better than a little Berkshire Hathaway on Mother's Day?

Bed Bath & Beyond is prepared for an economic recovery.

M-I-C ... See you real soon, Mom.

One retail stock has it all.

Looks, brains, and a solid financial future. What more could your dear mother want?

In the past, I’ve shared the story of the worst job I ever had. In a lot of ways, it felt like I was part of a pyramid scheme or multi-level marketing operation. I’ve been approached to participate in similar operations since then: once by my veterinarian (?!?) and once by a stranger in a book store. Sometimes you cannot tell a scam is a scam until you see it up close, and then the sunk-cost fallacy will sometimes force you to make a poor choice. GRS reader Bozemblem recently sent me this story of his close encounter with a “business opportunity” that turned out to be…

When our friends Mike and Rhonda moved into their new house a couple years ago, their yard was just like every other in the neighborhood: green grass. Chances are, that’s what the yards are like in your neighborhood, too. But over the past two years, Mike and Rhonda have transformed their lot into something different. They’ve created what might be described as a suburban farm. Mike ripped out all the sod and built stone walls and paths. Rhonda — a certified Master Gardener — planted berries and vegetables in the backyard. In the front yard, she created a garden of…

As I continue to achieve my short-term goals, my attention is turning increasingly to long-range plans. What is it I want to do with my life? I’ve always toyed with the idea of early retirement, and lately I’ve been reading more about the subject. Three books that have helped me so far are: Timothy Ferriss’ The 4-Hour Workweek, which explores the notion of “mini-retirements”. (I recently recorded a phone interview with Ferriss on this subject — look for a transcription soon.) Work Less, Live More: The Way to Semi-Retirement by Bob Clyatt describes…

Personal finance is filled with tough decisions. Prepay the mortgage or invest the money? Pay down high interest debt first or use a debt snowball to tackle the small balances? Roth IRA or traditional IRA? Sara wrote recently with another dilemma I think many of us have faced: is it better to pay down debt or to begin investing for the future? I’m 28. I work at a job with no retirement benefits and I want to open a Roth IRA. My husband and I have about $9,000 in credit debt on a credit card which, unfortunately, has a high interest rate. (I plan on transferring the balance soon, but am…

On Saturday, The New York Times published a brilliant chart illustrating the spending of the average American: “Each month, the Bureau of Labor Statistics gathers 84,000 prices in about 200 categories,” the paper writes, “like gasoline, bananas, dresses and garbage collection.” These numbers form the Consumer Price Index, one common measure of inflation. And this graphic makes that information accessible. This chart is neat for several reasons: The circle itself represents 100% of the average consumer’s spending. The circle is divided into eight large shapes,…

Last week, the federal government began sending out more than $100 billion in "tax rebates" to millions of Americans in an effort to stimulate the sluggish economy.

Even when markets are headed south, a 401(k) is a great vehicle for retirement savings.

Question: I'm looking for a financial planner. Should I find one with who is a Certified Financial Planner (CFP)?

With inflation outpacing yields on savings and money market accounts, what's a saver to do?

Memo to the market gods: I can't take it anymore. One day fear of recession tanks stocks. The next day it's inflation or a collapsing investment bank. Frankly, the market needs Prozac.

I like the new columns from Money Magazine featuring “The Mole,” an undercover financial planner. Like me, The Mole prefers to write anonymously to protect his or her identity. While my reasons for doing so pertain more with my desire to post sensitive personal information, The Mole maintains incognito status because he tends to speak out against the practices of his contemporaries and associates. Some time ago, I considered publicly becoming a financial adviser or planner. Eventually, I decided it wasn’t the path I wanted to take, but the resulting discussion was…

Following E*trade’s announcement that they were slightly increasing the interest rate on their Complete Savings Account to 3.15%, I’ve updated the list of savings and checking account interest yields. There have been a number of changes since the last update, including the following. UFB Direct dropped from 3.35% to 3.01%. Kirkpatrick Bank’s Savings Square dropped from 3.25% to 3.05%. E-Loan increased from 2.75% to 3.01%, plus they are offering a short promotion for new money at 3.75%. Presidential Bank decreased from 2.75% to 2.6%. VirtualBank decreased its entire hierarchy…

Yes, irreplaceableness appears to be a legitimate word. Even if it weren’t, there’s a good chance you could infer its meaning without doubt. It wouldn’t matter if the word actually appears in a dictionary. Now that that’s out of the way… My former boss was laid off last week. It had only been a matter of time. Some time after I left that department to work in my current location, her department was moved to another building to take advantage of efficiencies with another group that performed similar services for the company. The truth is that there was a lot of…

To help Americans pay for the increasing price of a gallon of gas, Hillary Clinton is suggesting a suspension of the 18.4 cent per gallon tax on gasoline and 24.4 cent per gallon tax on diesel from Memorial Day through Labor Day while enacting a “windfall profits” tax on the oil companies which have been making money hand over fist through out 21st century so far. John McCain is also in favor of a gas tax “holiday,” but Barack Obama calls this strategy pointless and possibly more harmful for the economy. Obama figures that the gas tax holiday would save American…

On Thursday, E*Trade Bank will increase the interest it pays on the Complete Savings Account from 3.01% to 3.15% APY. It’s a small move but it could be a good sign for savers if other banks follow suit. My company stock purchase plan account is held at E*TRADE and I plan on opening a savings account there the next time I sell my shares later this year. ---Related Articles at Consumerism Commentary: A Personal Finance Blog:News Flash: Emigrant Direct Lowers Interest Rate From 5.15% to 5.05% APY: ...UFB Direct Offers 4.35% APY: ...Fed Moves Up: ...Savings Account Interest…

Corporate insiders have been big buyers of stock recently, just as hedge funds develop an appetite for bear plays.

Deadbeat borrowers giving up homes will keep pressure on U.S. housing and financial stocks, but Canada's not so bad.

Drowning is the second most common cause of accidental childhood deaths. One grocery magnate is making a difference.

Exchange-traded funds have ballooned in popularity in recent years, and so have their uses in your portfolio.

Research indicates a clear connection between a company's sustainability practices and the price of its shares. What's not so apparent is whether it's just a feel-good idea or actually good for cash flow.

Reuters - Citigroup Inc is considering selling its Japanese consumer finance company CFJ KK or cutting the unit's business significantly as part of its plans to shed assets, Japanese daily Nikkei reported on Sunday.

AP - When Jenny and John Crowley learned they were having a baby, they did the responsible thing: they bought life insurance.

AFP - Citigroup, reeling from the subprime mortgage crisis, said Friday it plans to sell roughly 400 billion dollars in assets in a streamlining reorganization aimed at restoring the US banking giant to profit.

AP - Citigroup Inc.'s new chief executive, Vikram Pandit, plans to stick with a global banking model after months of intense review — but only after shrinking the company by about one-fifth first.

Reuters - Citigroup Inc said on Friday it plans to shed $400 billion of assets within three years and boost revenue by up to 10 percent annually, in a bid to restore profitability after huge losses tied to flagging mortgage and credit markets.

Everybody’s talking about gas prices… they’ve reached another high, everybody wants a hybrid… so why not explore how an individual can try to limit their exposure to gas prices? How much more are you really paying? Yes, $50 for a fill-up hits some sort of mental trigger, but sometimes I wonder if people really have calculated exactly how much more they are paying. According to AAA, the current national average is $3.70/gal, while a year ago it was $3.05. If your car gets 20 miles per gallon, you drive 12,000 miles per year, paying 65 cents more per gallon equates to an…

Initially, I had intended this to be review of Suze Orman’s newest book Women & Money: Owning the Power to Control Your Destiny to be done by my wife. However, she expresses no interest in doing so. So I read it myself, and found out that her reaction was actually a bit ironic. Here is my review of this book both from the perspective of a male and the husband of a smart, capable woman who doesn’t like dealing with money. The first half of this book deals primarily with the question of Women can handle money as well as any man… So why don’t they? It’s tough…

My wife got to ride in a single-engine Piper airplane for the first time a couple of days ago, which was exciting for her and scary for me. She even got to fly a little bit. I was surprised she agreed to go since usually I am banned from such “extreme” activities. This, along with a recent Vanguard article about estate planning, got me thinking. Many of you reading this are the Chief Financial Officers of your households, but would your spouse or partner be able to run things well without you? It’s funny, right now I don’t feel an urge to buy life insurance (my wife is…

I am trying to gain more control over my diet, while also compiling more easy (preferably really easy) yet tasty recipes. First up is making my own lunch. I think it’s important when brown-bagging to make it tasty and attractive, so you don’t actually feel like your depriving yourself. Don’t just slap a sliver of cheap meat on some Wonderbread. Instead, you should take advantage that you are making the meal yourself. Put anchovies on the thing if you want. In order to minimize the overall prep time, I bought all the ingredients at our usual grocery store (Safeway) during our…

529 plans have become a very popular tool for saving for college for those that choose to help out their kids (or simply funding some continuing education for yourself). Most states have their own 529 plans, sometimes even multiple choices within those plans. They are very flexible - anybody can invest in any state’s 529 plan, and that money can pay for college expenses in any other state. Beneficiaries are also easily changed between relatives. Conventional Advice The standard advice for picking a plan is to first check if your state has a good tax deduction for using your…

Both these items are outstanding. Healing our World: In an Age of Aggression by Dr. Mary J. Ruwart may be the most important book written in the last quarter century. If you struggle to stay positive in a world which seems to breed endless war, poverty, and violence, read Dr. Ruwart’s free book and you will see the world in a new light. You’ll see how aggression creates the very things it promises to destroy. You’ll see how change can only begin with you. A New Earth by Eckhart Tolle has recently grabbed the imagination of millions and Dr. Ruwart’s book complements…

I wrote a guest post for Craig Harper titled, Why is it so Hard to Change? Hop over to his site and read it. I put a lot of time and research into this so I think you’ll enjoy it. It’s one of the better Personal Development posts I’ve written. I want to thank Craig for the opportunity to reach his audience. Craig has one of greatest audiences on the internet. They are engaged, intelligent, and (most of all) motivated. I haven’t had much time to write this week…  so stay tuned… I appreciate your patience.

The War on Ego - By Steve Pavlina. Speaking of egos, before I write anything about this post, I want to say that I haven’t linked to Steve Pavlina in over year. It isn’t because I don’t like his stuff. I love his stuff. I noticed that he rarely links to any of the bloggers in his niche so I decided not to link to him. Maybe he’ll read this. Anyway, his post about ego is right on. Your ego is an essential part of your personality. Don’t attempt to abandon your ego or you’ll drive yourself mad. Just refrain from being an egomaniac. Personal Development as a…

This is short, but it is as important as anything I’ve written. You want to be happy, right? This took me almost 30 years to learn. In my 20s I complained about life, even after major accomplishments, and Christine asked, “Is anything ever going to make you happy? Why can’t you just be happy with what you’ve accomplished?” I replied, “No. I can’t afford to be happy, because this isn’t good enough. I can do better.” She shook her head and walked away leaving me indignant and confused. I couldn’t afford to be happy, because…

I have some exciting news. I’ve launched a provocative and controversial new blog. If you have enjoyed some of my more political posts, my new site is for you. The new site is for those of you who love to question the government, who love personal liberty, and love to discuss political topics and political philosophy. I appreciate all intelligent debate from all perspectives. My new blog - The Free Savage - is about political and social freedom. The Free Savage is written in the spirit of John the Savage from from Adolus Huxley’s novel Brave New World. (For more information read the…

This is the eighteenth and penultimate discussion in a “book club” series on Born to Buy by Juliet Schor, which focuses on consumerism issues and young children. You can jump back to the first discussion if you’d like. This discussion covers the latter half of the final chapter, “Decommercializing Childhood”, starting on page 200 at the subheading “The INvention of Modern Childhood” and finishing out the book. The book closes with a very strong section that discusses the role that parents and local communities play in shaping the growing commercial…

This week, I’m interviewing a close friend of our family named Carrie. It was Carrie’s earlier guest post on cloth diapering that inspired us to try it. Carrie is a stay-at-home mother with a husband whose career pays irregularly, meaning they tackle a very uneven rate of pay along with many opportunities for saving money. Beyond that, her family has adopted a huge number of green-oriented solutions for food and household care - they eat organics, do cloth diapering, and so on. Even more so, many of these ideas are guided by her faith. Thus, I thought it’d be interesting to have…

Almost every day, someone writes to me with intimate details about their debt situation. Some of them are pretty mild and can easily be taken care of with a little bit of elbow grease - others are horrifying and will take some very serious attention to manage. In either situation, the principles for getting rid of that debt are much the same. Very similar tactics can be applied whether the debt is a $200 credit card balance or a mountain of $250,000 worth of various forms of debt. Here are the twelve tactics I’ve used myself to conquer debt - and that I always recommend to others. 1.

I love oatmeal. I eat it for breakfast probably five days a week. It’s a very healthy fuel to get your motor running for the day, plus it can be very tasty if it’s made well. Whenever I find myself using something almost every day, I begin to wonder if I can’t reduce the cost of it somehow. This led me down the path of making my own instant oatmeal packets. Could I make them as well as (or even better than) the instant Quaker Oats packets for a cheaper price? The answer is … sort of. For me (and for anyone else who consistently eats oatmeal for breakfast), the answer…

Alan wrote in with an interesting situation: My problem is that I can’t say no to people. I am a sucker for girl scouts selling cookies. I am a sucker for salesman at stores. I am a sucker for my church when they need money for something. I am a sucker for friends and family who need to borrow money. I am a sucker for the Green Party or Green Peace when they call and ask for money all the time. I have heard it called “The Disease to Please” before and I just wanted you to know how much it affects me not only with a lot of stress and anxiety, but also financially. I…

By Jabulani LeffallBefore you read on, know that this one of those listen-to-me-now-believe-me-later on posts. Enter the Sukuk: the interest-free loan, based on Muslim principals and before you laugh, understand this: Citigroup, Morgan Stanley, HSBC, Standard Chartered and others are getting into the Sukuk issuance business in force. Moreover, while we grunt and grimace at the fact that it took 50 bucks to "fill-er up" or that 40 bucks only got us to three quarters of a tank or in some cases, only half a tank -- the sheer quantity of cash from petrodollars is creating a financial…

By Xin LuA couple weeks ago I received a small sample of Corozonas Tortilla chips. I think I requested it a while ago and I totally forgot about it. They sent me two flavors, one was Baja Bean Dip and the other was Magarita Lime. I was pleasantly surprised because I really enjoyed the chips. They were quite tasty and had very bold flavors.  The Baja Bean Dip flavor was actually quite spicy. The chips also included whole oats so they looked quite interesting. The company claims that their tortilla and potato chips actually reduce cholesterol so that makes them quite different from other…

By Philip BrewerWhen I advocate for frugal living, people sometimes ask, "What if everybody lived like that?  Wouldn't it hurt the economy?"  My natural inclination toward frugal living may color my opinion, but I don't think so.  I think mass frugality would be good for the economy. It's a valid concern, rooted in the way recessions and depressions start.  Some recessions are business-led, with businesses cutting back first and consumers following because their paychecks are smaller and they can see that their jobs are at risk.  Others are consumer-led, with…

By Myscha TheriaultIt struck me recently as I was working on something in the kitchen that what I was doing was actually quite eco-friendly. The funny thing was, I made the actual choice as a budget strategy. So I started thinking, were there other areas of my life where I was being “coincidentally green”? As it turns out, there were several.Here are a few of the areas I came up with after just a few minutes of brainstorming. Fireplace Matches. Way more eco friendly than the long-handled plastic BBQ grill lighter that has to be replaced every time the fluid runs out.Bonus? They are easily…

By Philip BrewerI don't know if energy costs will keep rising.  Nobody does.  Even with recent growth in China, India, and elsewhere, the US still consumes 25% of the oil produced world-wide, so a severe recession in the US could easily cut total demand enough to bring the price down.  Recession or not, I think the medium-term trend in energy costs is up.  Just in case I'm right, you ought to have plan for that. I've written before about planning for expensive fuel.  I emphasized that you should have a contingency plan either to take money from other budget categories to pay…

I discovered this detailed real estate blog called Matrix and this incredible set of mortgage-related heatmaps used by Bernanke in his last speech. Heatmaps are the quickest way to get a “snapshot” of a situation and these go through so many permutations that you can get a really good sense of what’s going on (and there are so many maps!). I had no idea unemployment concentrations were dispersed the way they are and how badly hit the Michigan area has been lately given the major auto manufacturer’s financial woes. My last employer recently offered a Roth 401(k), which…

Earlier this week Nickel sent me this awesome video about someone building a ridiculously posh treehouse in their backyard. The video’s background music is If I Had A Million Dollars done by the Barenaked Ladies Bluegrass Tribute (I think!) and so I thought to ask a few personal finance bloggers what they’d do if they had a million dollars. Would they build a treehouse in their yard? Surprisingly none of them wanted to build a treehouse in their yard. In fact, the vast majority did exactly what responsible pfbloggers always advise people to do, pay off debt, save for the future,…

One of my friends recently asked the following question about adjusting the withholding on his paycheck in order to minimize overpaying his income tax: We recently just bought a house. We’ve never itemized my taxes before because we didn’t have enough to come close to the standard deduction. Now, however, clearly we will. We’ll have approximately $30k in write-off’s between the property tax and mortgage interest. The difference between this and the standard deduction (~$10k) is ~$20k. Using the 25% tax bracket, this means we’ll get back $5k in taxes (compared to…

If you visit the E*Trade homepage, you’ll see a big yellow star that names E*Trade the #1 premium broker of 2007 by Smart Money magazine and “Best of the Breed” in Money Magazine in August 2007. If you visit the Scottrade homepage, you see a blurb about a J.D. Power and Associates Award for “Highest in Investor Satisfaction with Online Services” award. And if you visit Zecco homepage, they don’t have any awards posted. Does that mean E*Trade is better than Scottrade and Scottrade is better than Zecco? Maybe, maybe not! So I wanted to match up all the awards…

In the two and a half weeks we spent in the island of Hawai’i, we stayed at a timeshare, two bed & breakfasts, and a resort hotel. We did it in that order because, as more avid hikers than beach loungers, we figured we’d tire ourselves out in the first ten days and then lounge around at a Marriott for the last five. The two bed and breakfasts we stayed at were on the Big Island, the Shipman House in Hilo and then the Hale Maluhia Country Inn in Kailua-Kona. Bed & Breakfasts often have better rates, significantly more personal service, but their variance in quality is…

But Dartmouth is 'in a holding pattern' with its wait list.

Hundreds of UC-Berkeley students rallied to spare the department of East Asian Languages and Cultures from cuts.

Obama needs only 169 more delegates for the nomination.

Political bloggers on Clinton and other issues.

This is a sad and dangerous time for Hillary Clinton.

Down to the last two weeks of my book manuscript, so things are going to be a little quiet around here. For now, here are some interesting links I’ve been reading. Amazon book comments on a book titled Are You Missing the Real Estate Boom?: The Boom Will Not Bust and Why Property Values Will Continue to Climb Through the End of the Decade - And How to Profit From Them. Sadly, this book was written by the former head economist of the National Association of Realtors. The 5-star reviews from 2005 are sad, hilarious, cheerleader-ish comments for the real-estate boom. Story about someone…

Because you’re no different than the other applicants. Here’s how to stand out, from a recent post. Note: This doesn’t only apply to programmers. Everyone should have a portfolio. I am in college, but have lots of free time, so I can work fulltime at a startup plus add in a lot of extra hours (I know how startups are) on site or by telecommuting. I applied to a few, sent my resume, etc.. but the same thing always happens. They want a portfolio.. links to things I’ve worked on. I am a programmer, PHP/Rails/C/Ruby/etc.. but I don’t have a degree in anything related…

Tomorrow I’ll be attending FinovateStartup, a conference highlighting startups in technology and finance. I’ll be meeting these companies, so if you have any questions, leave them in the comments and I’ll try to get them answered from the founders themselves. BoulevardR: Personalized guidance on your retirement goals Buxfer: Track your spending online CakeFinancial: Centralize your portfolios, compare your performance to others Credit Karma: Free credit scores, offers based on your score FindABetterBank: Compare banks Mint: Track your spending online, find offers based on…

Besides this blog, find me at http://twitter.com/ramit. Your mileage may vary, but recent posts include… My friend’s rule of thumb about men on Match.com Where to find a virtual assistant How to get a PO box Here’s my twitter page. [Update]: You guys are nuts!

I’m sitting at my neighborhood coffee shop listening to two women talk about their careers. Yes, I eavesdrop. One of them is complaining about her job, but says that she can’t get another one because she’s uncomfortable with her computer skills. Which led me to this post. If you take a $2,000 computer class and it lets you get a job with a $10,000 salary bump, you should do it. No question. If you buy one book per week, for $20 each, that’s $1,000 per year. If you get one good idea per week, my friend Paul told me, it’s worth it. If you apply that idea, I…

I just ran across an interesting site that features personal accounts of how people are spending their tax stimulus rebates. Some of the more amusing uses include: - donating it to the Obama campaign (take that, W!) - buying plane tickets to catch the New Kids on the Block reunion tour (seriously?) - treating “a sudden and particularly messy case of giardia contracted by our puppy” (yuck!) - installing a giant chocolate fountain in the backyard (yum!) And with that, here are some articles that caught my eye over the past week… » The Financial Realities of Having a New Baby…

Here’s a bit of weekend fun… Jim over at pfBlueprint asked a bunch of personal finance bloggers what they’d do with a million dollars. This was my answer: If a million dollars suddenly fell into my lap, I’d invest the vast majority of it. The concept of “financial freedom” is very attractive to me, so I’d focus on building up that nest egg. I’m not saying that I’ll necessarily quit my job when we reach that magical crossover point, but it’s hard to put a price on being in a position to make that decision. Boring, but true. So… What would you do? (Oh, and…

A reader named Mary recently asked the following: Could you please tell me how much it costs to run a 100 watt incandescent lightbulb for 8 hours/day over the course of a year? Could you then compare the cost for a year with a compact fluorescent lightbulb? Which wattage CFL would to replace a 100 watt incandescent bulb? I’m new at this. Thanks for your response. It’s no secret that I’m a huge fan of CFLs, so I think that this is a great question. Here’s the answer… For starters, a 26 watt CFL is the approximate equivalent of a 100 watt lightbulb, so right there…

This is just a quick note to let everyone know that Blockbuster Total Access is running a new promotion where you get 50% off your first month plus a free $25 Visa gift card*. So… You can get their 3-at-a-time movie plan for one month plus the $25 gift card in return for just $10 for the first month (and $19.99 thereafter). Moreover, unlike Netflix, you can exchange your movies in their stores, which lets you get more bang for your buck. Click here to apply. Apparently you have to remain a member for six months to get the gift card. ---Related Articles at…

Not long ago, JD over at GetRichSlowly mentioned that he had been asked how you’re supposed to spend less than you earn when you’re in college and not earning anything. This is a great question, and one that I thought I’d take a shot at myself. While it’s not mathematically possible to spend less than you earn when you’re not making any money, there are still a number of things you can do to keep yourself from sliding too far into oblivion… Apply for scholarships While it’s too late for most struggling students to take full advantage of this advice,…

This question comes to us from a guy I have known my entire life: I read your article the other day Should Portfolio Rebalancing Be Considered Market Timing? and it got me thinking about my 401k balance. I’m turning 40 next month and am looking at my 401k balance, thinking should someone with my level of investment knowledge be managing this account? Over the years, it’s grown to a significant amount without any research on my part, I just deposit money spread it over several funds and watch it grow. Rebalanced the 401k last year using a financial engine software supplied by my…

EVERYBODY wants my money. I bet I get 5 - 10 phone calls per week asking me to support this charity or that charity. Most of them sound like legitimate causes. However, it’s not possible for me to say yes to all of them. I normally cut the person off fairly quickly and tell them that I’m not interested and hang up the phone. I know it probably sounds rude but I really don’t know what else to do. I figure they would rather find out sooner than later that they have no hope of success with me. In other words, I’m helping them move on to other potential donors. As far as…

Summer is just around the corner, which means a trip to Kansas to visit family is in our future. Since I have had gas prices on my mind lately, I thought I would calculate how much we can expect to spend on gas for our trip. Although we don’t own a gas-guzzler, our Rendezvous hardly gets the best gas mileage. Once my wife and I load the car down with kids, junk, and throw a car top carrier up on top, I’m lucky to get 20 miles per gallon (on some parts of the trip the MPG might be more like 18). For us, a roundtrip to Kansas is around 1,400 (not including driving around while we…

Check this out: That picture was on the front page of today’s Houston Chronicle. From the article: The sinkhole, which appeared near the center of Daisetta on Wednesday morning and grew to four football fields in diameter and 200 feet deep by nightfall, did not grow severely during the night and no evacuations have yet been ordered, a Liberty County sheriff’s official said today. There’s also video footage on the page of the article as well as a gallery of larger pictures if you’re interested. Question: What happens if you are the owner of the property? I guess…

I realize that this stuff isn’t personal finance-related but it is one of the ways that I can honor my dad. My dad’s been gone over two months now. I don’t think a day has gone by that I haven’t thought about him. Most of the time it’s just me thinking to myself that I can’t believe he’s gone. Then other times it’s certain things that remind me of him. 1. Warren Buffet or anything to do with Berkshire Hathaway - My dad was a big fan of Warren Buffett and was a Berkshire Hathaway shareholder. He used to tell me over and over how I needed to read…

By Jennifer Derrick If you’re read many of my articles here at Saving Advice, you know that I’m a huge fan of reading. I believe that reading, both fiction and non-fiction, is a great way to learn new things and be exposed to more than you typically see in your daily life. If you want to [...]

Weekend reading is a round-up of personal finance reading that has caught our eye that may be of interest to you: Discussions From The Forums These are threads started this past week within the forums which have created quite a bit of discussion: How much do you usually spend on a wedding gift? Grocery Help for Family [...]

We’re searching for a new contributing writer for this blog. This is a paid position on a per article basis (it’s not a huge amount, but probably more than the average personal finance blogger is currently making). We will consider anyone who has an interest in writing about personal finances, but it will certainly help [...]

By Shannon Christman Personal storage facilities are appearing everywhere. Whether new garage-like structures or refashioned warehouses, factories, and banks, all have the purpose of storing our culture’s accumulated stuff. For the “low” price of $39.95 a month, you can rent the smallest of these empty boxes — a space not much bigger than a walk-in closet. [...]

By Jennifer Derrick Now that it’s spring and the government rebate checks are starting to roll in, many people are sounding like that old Super Bowl commercial: “You’ve just received your rebate check! What are you going to do now?” “I’m going to Disney World!” If you decide to go to WDW this summer and you want to [...]

If freelancers could invent our own clichés, one might be: no two jobs are the same. Each gig we take on brings with it new personalities, new challenges and new rewards. Despite these differences, most any freelancing gig will fit into one of these twenty types. Where does the job you’re (supposed to be) working on now fit in? Have you done each of these kinds of jobs before? My guess is that most experienced freelancers will have encountered quite a few! 1. The magnum opus The job you’ve always wanted, the job you’ll tell your grand-kids about. You get asked to write a…

Sometimes starting a freelance business means building it from the ground up. Which has worked superbly for Calvin Lee, the Principal and Creative Director of Mayhem Studios. Cal couldn’t afford to attend a four-year college or design school, so he taught himself about design and formed his business through a lot of hard work. Cal says he’s always loved drawing as a kid. “A lot of my imagination came from reading comic books. I wanted to do something creative as a career one day or even draw comic books,” he says. While that never came to be, the 39-year-old Los Angeles resident did…

Ahoy all ye tanned inhabitants of Australia or its surrounding areas: Freelance Switch sister-site FlashDEN is giving away one free ticket to WebDU, the biggest web technology conference in the southern hemisphere for Flash, Flex, Air and Web Design. Attendants will receive hands-on technical training, new skills and breaking news from inside the web industry. Head to the contest post and leave a comment explaining why you deserve a ticket to be in the running to win. Don’t forget to show some love to the new FlashDEN blog while you’re there :). The winner will be mingling with…

The fourteenth episode of Freelance Radio, the official FreelanceSwitch podcast, is now available! This episode, we bring on Prescott Perez-Fox (official site at perezfox.com, host of the Twentyhood podcast on life for twenty-somethings) we discuss a number of freelancing issues, including your business image, how to use your website, suggestions for one’s about page and more! Subscriptions to the podcast are available via iTunes and an archive of all podcasts will appear in the podcast section. We hope you enjoy it! Subscribe to Freelance Radio on iTunes You can subscribe on other…

I had a client meeting this morning. This means I tossed on my best khakis, grabbed my portfolio and darted out the door feeling the rush of new business possibilities. Having already spoken to this potential client on the phone, I knew it wouldn’t be an easy sell. He had a tall order of information he wanted me to bring along. But I knew I’d be all right—I spent the night before updating my portfolio and working on rates for him. Rates. I knew that would be the kicker. While this new client will probably be a wonderful one, I did struggle to devise a set pricing scale for him. Why?

I won’t go in to the details of what prompted this topic since it might get a little too bitter for my own taste, but there is a serious need for reforms in the way the government looks at internet income. To put it in a concise way, I am regretting that this blog ever made any money at all. There is only one piece of advertisement remaining on this blog, but I am positively sure that after a few months/years of unsuccessfully negotiating with the organization involved, the issue will remain successfully unresolved (for the lack of any clear guidelines to either party) and the money…

Finally, it’s time to implement what I have been talking about on my blog over the last year or so - it’s time to address lifestyle inflation! The first salary after getting a job is always a tempting  excuse to indulge in a shopping spree. Plus, a new unfurnished apartment cries desperately for a several-hundred-dollars expenditure on furniture/bed/accessories. However, with great restraint, I have finally managed to convince myself back into a sleeping bag. I have had some good (and prolonged) experience with sleeping bags, so I don’t mind it. Also, most other things were…

I don’t know what to call this passport photo business, so I am just going to stick with “stupid ripoff” for now. During the weekend, we went into a CVS Pharmacy Photo Center to get some passport/ID photos. We wanted a specific size (as they say “from chin to crown”), so we asked the dude who was attending the photo center whether he can adjust the size. Pat came his reply “No, we just print the standard 2″ by 2″ photo and we can’t adjust any proportions“. I asked him “But, don’t you have a software where you center the…

I thought this was pretty interesting. Tata Motors, India’s largest automobile company, unveiled the world’s cheapest car today - according to a press release on the company’s website. This brand new two-cylinder vehicle is priced at INR (Indian Rupee) 100,000 equivalent to $2549 US dollars. Image source: www.tatapeoplescar.com Honestly, when I heard about this concept more than an year ago, I thought the project will sort of fizzle out eventually because of cost inflation and gross underestimation of technological challenges. Now, I stand corrected. By the way, on a side…

Lost in thought and lost in time While the seeds of life and the seeds of change were planted Outside the rain fell dark and slow While I pondered on this dangerous but irresistible pastime I took a heavenly ride through our silence I knew the moment had arrived For killing the past and coming back to life I took a heavenly ride through our silence I knew the waiting had begun And headed straight..into the shining sun - Coming Back to Life - Pink Floyd (The Division Bell) (video) I don’t know why, but I feel sort of connected with that song about now. After 6.5 years of considerable…

I'm bonkers about animals - big and small, furry and feathered, I love them all. When I was a child, I wanted to be a veterinarian. My mom helped nurture this passion in me. Despite her own aversion to creepy crawly creatures and naked rat tails (rats make wonderful pets - if you don't look too closely at the tail end), she allowed me to keep a growing menagerie caged in my bedroom. I incubated a chick once. My mom didn't squawk when she discovered I'd trained my hen to use the doggy door. My eleventh summer, mom sent me to camp. The first day I was so homesick that I begged her to come…

I cautioned readers about the irrational real estate bubble and the domino effect the "pop" would have on our economy. Sometimes I'd receive defensive comments like, "home prices may stay even for a little while, but they'll never go down". Then, when prices did start to fall, a few angry individuals actually blamed me for creating the problem by planting seeds of doubt in people's minds.As if I have that much influence... The economic downturn has been on my mind. I am concerned. I read a lot, I think a lot. I want my money - and my financial freedom - to last a lifetime. I've achieved what…

by Michael Masterson, best-selling author of Ready, Fire, Aim (Note from Millionaire Mommy Next Door: This interview is a bit lengthy, but well worth the read. It summarizes the current economy, then shares ideas for investment sectors and businesses that could profit. I highlighted statements that particularly caught my attention in blue.) I was in Baltimore recently for meetings with some of my biggest clients. My job was to review their progress in 2007 and give them ideas about how to grow their already profitable businesses in 2008. During that time, I taped an interview with J.

We've saved thousands of dollars by not purchasing costly bottles of poison, plus my migraines and my husband's allergy symptoms have decreased dramatically. I purged our cabinets and took a huge box of stinky, headache-inducing household cleansers to our local Goodwill about ten years ago. We've been spending pennies on the dollar to clean our entire house ever since. Get rid of your arsenal of toxic, harmful household cleansers and replace them with a cheap, bought-in-bulk bag of baking soda and a gallon of white vinegar. (Note: Don't toss your poisons into the trash or pour them down the…

"We greatly enjoy reading your blog, your advice and insight. You’ve helped us think differently about some things. We’re getting ready to move from Arizona to Oregon and will be selling our home. We’re planning to rent while we evaluate areas to live, and now after reading your recent guest post How to Make Money Without Ownership: Take Advantage of the Housing Slump and some other things, am thinking perhaps it might make sense to rent awhile longer and get a good ‘sale’ price after further market corrections. My question has to do with the timing of buying especially in the…

When I created the No Credit Needed Network, I did so with moments like this one in mind - Debt Hater, who joined the No Credit Needed Network in February of 2006, just paid off her credit cards! Click here to view her completed No Credit Needed Network chart and here to visit her site and read her inspirational and celebratory post. In a world where we are inundated with bad news and depressing stories, isn’t it fun to read about someone doing well? Debt Hater… You Rock! If you are trying to get out of credit card debt - consider reading the No Credit Needed Debt Reduction Guide.

Here are some of my favorite articles from the Money Blog Network - All Financial Matters calculated the impact that rising gas prices will have on the cost of the family vacation. Consumerism Commentary has some thoughts and questions about the proposed gas tax holiday. Five Cent Nickel asked readers to provide feedback on their favorite online brokers. Free Money Finance reminds us that he loves index funds - and so do many professors. Get Rich Slowly tries to find solutions for a reader who is living on credit. Mighty Bargain Hunter details how to save money when shipping online via USPS.

Today, I went shopping for Mother’s Day gifts. As I was checking out at one particular store, the woman behind the cash register asked me if I wanted to apply for a credit card and receive a 10% discount. As I’ve written about before, I’m not interested in credit cards, especially high-rate store-branded credit cards. But, I’m also not interested in being a jerk, so I politely declined her offer. But, I couldn’t resist asking her if she ever tired of trying to get people to apply for the cards. She sighed and said yes. Then, she went on for about five minutes…

Baby number three is now three weeks old.  She is beautiful and is doing great.  Mommy and I have spent many of the hours since she was born just holding her, enjoying her little baby sighs.  She sleeps four to five hours at a time and enjoys her baby swing.  Big sister and big brother love her - and are ready for her to “play dolls and ride the hot wheel”. We find that we are spending less on gasoline, because we are staying home instead of going out.  But, our electric bill will probably be sky high.  It’s getting hot down south and we wash about five hundred loads…

I recently sold an item on eBay.  When the buyer tried to make payment via Paypal, the payment was rejected.  I contacted Paypal, via the customer service number listed on their website and within two minutes, I was connected to a customer service representative and the problem with my account was promptly corrected.  (For some reason, when setting up my new account, I checked a box that needed to be unchecked.) Normally, we only read about bad customer service experiences, so I thought it might be nice to report a good experience.  The CSR was polite and she knew how to fix the problem.

I’ve been off my schedule a little bit here since I have some relatives over for a short visit. And it’s Mother’s Day, so I decided to take most of the weekend off and strayed a little from my regular routine — something I do once in a blue moon. This week, I encountered lots of tips and hacks from all over the money blogosphere. Seems like a lot of people were in a list-making mood. Personal Finance Reads The Simple Dollar: A step-by-step plan for dealing with your debt is right here: The Debtor’s Toolkit. It’s a nice package of simple financial principles…

Think back to the time when you’d take on summer jobs or interned while you were still in school. It was fun, easy and earned you some extra bucks. So who says we can’t keep on doing this long after our teenage years are over? I actually have a family member in an interesting dilemma. He’s a practicing lawyer from a different country and just moved here a year ago. He just took the California bar exams but while waiting for the results (which takes some months), he’s decided to take on some odd jobs to be productive and to make a bit of money. The odd jobs aren’t…

The Carnival of Personal Finance #151 highlighted a prominent theme this week with an edition aptly named as “Bloggers On Surviving The Squeeze”, held at Alpha Consumer. The “belt tightening” theme continues to be the talk of the day in the money blogosphere as we grow more attuned to the nation’s growing financial challenges of late. But I also found several posts that covered a variety of topics: How to Dress For an Interview @ Cash Money Life You’re NOT Homeless! @ You Might As Well Burn $5 Is CPI Manipulated? @ Amateur Asset Allocator More saving…

I’m not the most organized person in the world, though I’ve been working on it as best as I can. The funny thing is, I like things to be systematic and like things to be in order, but somehow, I still fall short sometimes, and I end up with a couple of missed bills and a debt collection warning. But so far, I’ve managed to weasel my way out of any penalties or negative effects on my credit. I suppose some sweet-talking doesn’t hurt, but in all seriousness, when I do get a debt collection notice, here’s what I do: #1 I don’t call the debt collection agency.

How tough is it getting out there these days? The general consensus is that it’s been getting economically tougher, with more reports surfacing and providing us newer metrics that prove we’re in the midst of a market decline. And the latest proof that we’re in a slump? How about a marked increase in the sales of used goods? Apparently, more and more people are unloading their possessions, valuable or otherwise, at various second-hand markets and at a greater frequency than in the past. And no, people aren’t selling stuff just because they want to declutter their home…

JLP at All Financial Matters asked his readers how they handle cold calls from charities. Is there a way to handle these kinds of calls gracefully when there’s no interest in giving to the charity? JLP asks: “How do you say no to legitimate calls for help without feeling guilty?” I’m not anti-charity and we do support several, and we give generously to our church. But at the same time, I have no problem just hanging up without a word as soon as I realize it’s a charity. Absolutely none whatsoever. That sounds cold — and for all I know it might be —…

“We’re sorry for any inconvenience this might cause.” When a business or website says this, does it sometimes hit you as being empty and more than a little ingenuine? Especially when the motive behind the “inconveniencing” actions is clear? I’ve been using Iwon for a news portal and stock tracker for the past few years. The same company runs an ad-free version called MyWay but I haven’t bothered to overcome the small inertia to move things over there. Anyway, at the end of this month, they’ll be discontinuing the portfolio feature: We are sorry.

We’ve come to enjoy Amazon Prime. (For those not familiar, Amazon Prime is all-you-can-eat 2-day shipping for $79 per year. Over a million items on Amazon qualify for Amazon Prime.) We’ve mentioned this before but our daughter has a number of food allergies that make some of her staple foods pretty expensive. Ukrop’s is kind to us and lets us buy soy milk several cases at a time, and at a discount to boot. Some of our daughter’s foods are available, and competitively priced, on Amazon if we subsidize the shipping by buying from them regularly and subscribe to Prime.

Our three-year-old daughter is a very smart, articulate, generally considerate, always cute three-year-old. With her articulateness also comes backtalk, sometimes incessant talking and demanding of attention, and vocal displeasure when the winds aren’t blowing her way. Our current modes of discipline only seem to have limited effect, so my wife and I were talking about what to do. We thought about taking away things that we knew she liked to play with, longer time-outs, etc. Another thought was to give her five cents at the start of the day with the intention that she loses one cent…

Just because an organization is tax-exempt doesn’t mean that donations to that organization are tax-deductible. The Internal Revenue Code lists dozens of types of organizations that are exempt from paying federal income tax. Some of these organizations can accept tax-deductible donations, but others can’t. Our Lions Club recently tracked down specifically what kind of organization we were. Lions Clubs are 501(c)(4) organizations, which include other civic organizations. Donations to 501(c)(4) organizations are generally not tax-deductible. If we are asked (and sometimes even when…

Another week, and another set of links. I wish I had something exciting to talk about or some news to share, but I’m experiencing a bad case of writer’s block this week. In fact, I could use some time off, so if you are a blogger that talks about personal finance and would like to submit a guest post, you can contact me and see if there is something available. Otherwise, on with the links: 3 Tips for Budgeting Success - Creating a budget is the easy part, but sticking to it is hard. Learn a few of the traits needed to keep you and your budget on track. Retirement Accounts Across…

If you aren’t familiar with George Soros, he is one of the greatest financial speculators, and one of the richest men in the world. He amassed a fortune with his hedge fund that began in the 1970s. Since, he has gone on to become a very controversial, yet respected individual in the financial world. He has also written a number of books, and his latest was just released. In the book The New Paradigm for Financial Markets, he talks about a new economy and the major changes that have been, and are currently taking place. The book argues the subprime crisis has triggered the bursting of a…

We’re cruising through spring, and in many locations, it feels as if summer is already here. Well, it won’t be long and summer will be upon us, but that doesn’t mean you should wait to take advantage of some money saving ideas. For those of us in colder climates, we tend to focus on saving money during the winter months, but you’d be surprised at the number of ways you can save money this summer as well. Here are a number of ideas that can help you save money in the coming months. Check Your Air Conditioner Filter It doesn’t matter if you have a small window…

If you’re a college student preparing to graduate, you may find that some job markets aren’t exactly hot right now. There are plenty of jobs out there, but finding your ideal job will be harder than it has been in the past few years. While many of these tips are helpful for someone seeking their first job out of college, the tips can be used by anyone that is seeking employment. Experience Matters Those with real-world work experience in their field will have a significant edge over those without such experience. If you have done any work in your field while in school, either…

Spring has finally sprung in these parts, and it is a welcome treat. We were actually below freezing still just a few days ago. Now that the warm weather has arrived, it is finally time to get the plants in the ground this weekend. We already picked up most of what we need for the garden including: a few varieties of tomatoes, basil, Italian parsley, rosemary, and some assorted hot peppers. In addition, we picked out an assortment of plants to fill the various containers and hanging baskets for around the house. So, it looks like a busy and dirty weekend of taking care of all the planting,…

Original post on The Sun’s Financial Diary Personal Finance Across Borders I - Retirement Accounts Million Dollar Journey compared retirement saving accounts offered in the U.S. and Canada. No much difference I have to say. 7 Tips to Simplify Today Brip Blap offers some ideas to live a simple life. The one I like the most is “Stop trading, start Investing.” Money Tips for New College Graduates - Spending, Saving, & Budgeting Advice Money Smart Life talked about what newly graduated students needs to know about money in post-college life. How To Deal With Debt Collection…

Original post on The Sun’s Financial Diary It has been more than four months since I last updated my little interest rates table. During this four-month period, the rate picture of online banks has changed a lot, going down 5% something to mostly in the neighbourhood of 3% APY, as the Fed cut interest rates every time they met. However, the latest reduction of a quarter of a percentage point at the end of last month could be the last one by the Fed in the current round of rate cut. And because of the relatively small cut (only 0.25%), no bank, as far as I know, has followed suit. One…

Original post on The Sun’s Financial Diary In the June issue of Consumer Reports, the magazine gives its readers some ideas to save money at the pump. In addition to tips that we have already knew, such as avoiding rapid acceleration/stop, there are also tips that I didn’t know before or haven’t paid any attention, such as the rolling resistance of tiers. The conclusions were based on tests the agency conducted with Toyota Camry and other vehicles. Drive smoothly: Frequent rapid acceleration and breaking reduced the Camry mileage by 2 to 3 mpg. Drive at a moderate speed:…

Original post on The Sun’s Financial Diary In a sign that interest rates may stop falling and start rising, E-Trade Financial sent me an email this afternoon with a surprising update: Start May 8, they will increase the interest rate of their Complete Savings Account from the current 3.01% APY to 3.15% APY, though the Fed has cut interest rates by another 0.25% point last week. Another interesting observation is that, in the past every time after the Fed cut rates, banks followed almost immediately to slash interest rates on their savings accounts and my Inbox was flooded with rate…

Original post on The Sun’s Financial Diary Back in February, the U.S. Postal Service announced that the postage for one-ounce first-class mail will go up by 1 cent to 42 cents next Monday, May 12th, so does the price for a Forever stamp. When the stamp was first introduced in 2007, I didn’t buy any extra other than the booklet of 20 when I was out. The main reason for not stocking up on the stamps that never expire was after gradually moving from paper checks and mail to online billpay over the past couple of years, we are using much less stamps now than before. In fact, there are…

Below is an article that shows how our federal government increases its take of our money without raising taxes or monkeying around with the tax code.And we all go along with it.The Coming Tax HikeWall Street JournalTechnorati Tags: income tax | IRS | Internal Revenue Service | Barack Obama | Hillary Clinton | John McCain | tax increase

Welcome to the May 9, 2008 edition of Kids & Money. Last week's edition, The Lost Edition, is followed by The Found Edition (get it? Lost and Found); but the Finds here are great. All of the posts below have something very important to say and you can learn a lot from each and every one of them.My Pick of the WeekMy favorite post this week comes from a blogging friend, Tim, from the The Money Kingswho wrote the post, 10 Big Time Family Money Mistakes, saying, "Believe it or not, plenty of people need to be thinking of the following when dealing with money, relationships and family. Some…

Duh.From the New York Times story:"But with oil prices expected to remain high for years, auto industry executives are seeing a turning point."They said this in the 70s, too. And the 80s. The 90s? Not so much (everybody's stomach was full and bank accounts were dripping with IPO riches). Now? They are saying it again. One day they may be right.Originally from Greg Mankiw's Blog.Technorati Tags: gasoline | gas tax | small cars | compact cars | SUV | trucks | economy

If you're like me, you often need to perform a calculation for something, but the mind (mine, at least!) being what it is, I often forget how to do it.That's why I love online financial calculators. They not only save time, but they're fun to use to play "What If" games. As in, what if I quit smoking? How much money will I have saved (it's more than you think)? Or, how much will that $2,000 I invested in an IRA when I got my first job grow to when I'm 70 (again, it's more than you think)?I've used quite a few online calculators in my day. One I came across recently is DollarTimes.com. It not…

Quick Post: I have a new link up there called Free Magazines! There are literally dozens of free magazines to choose from. I've subscribed to a lot of these over the years, both the free way and the paid way.Let me tell you, free is better!Some of the best:CFOThe EconomistWeb WholesalerTechnorati Tags: Free magazines | Money Hacks

I just wanted to pause for a moment to thank everyone who regularly reads and comments on this site, as well as the many other fine personal finance bloggers out there whose sites I enjoy when I can. I'm not actually all that good at time management, and I can also be kind of a poor communicator with friends, so I'm terrible about responding to emails, getting into dialogue in the comments on posts, and commenting on other people's blogs. But it doesn't mean I don't care! I love all your thoughtful, helpful and funny comments and emails-- keep them up! Thanks!

Okay, my net worth at the end of April was $372,870, up from $357,891 at the end of March for a 4.2% increase. The main factor driving last month's change was my 401k bouncing back after a few really dismal months. I also managed to save some cash, and I was paid back for a fairly large expense that I'd covered for a friend-- I knew I'd get that money back but I hadn't counted the accounts receivable as an asset, so last month's net worth was sort of artificially low.As for April expenses, here's some categories of note:Dining: $641, under my $650 budget for a change!Education: $120 (French…

My friend Mortimer has been doing a lot better lately-- he's gotten past his apartment crises, hasn't had any major health crises, and has been steadily employed. He's managed to pay off his credit card bill, and is now feeling more comfortable spending money on a few things he's wanted for a while.One of these things, which I think actually qualifies as a need, not just a want, is a new pair of eyeglasses. Mortimer hadn't been to an eye doctor in several years, but he finally went, and then asked me to come and help him pick out new glasses.I was expecting the search to be painful, but we…

How often can you say that? My goal is to be able to say it every month, and the last few months, I haven't been able to do so. But although I haven't yet pulled together a full monthly wrap-up, my net worth at the end of April was around $373,000, which is higher than it's ever been. It's a nice feeling!