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Savings, CDs and Money Market Funds Explained
If you’ve been investing in the stock market for the last couple of years, you’re probably feeling like you’ve been taken for a dizzying roller coaster of a ride. Head still spinning? The more stable investment vehicles, Savings accounts, CDs, and Money Market funds can provide some relief. While they may not offer the highest interest rates available they do provide an appealing safety cushion in times of economic uncertainty. And when it comes to saving for retirement, sometimes slow and steady can win the race. Let’s start off by explaining the basics of some of the most popular investment…
Continue reading...That is why Loyalty does not pay!
10. April 2009
A few months back, my wife and I decided that having a cell phone bill of over $100 dollars a month was not feasible any more during these hard economic times. We have been with Verizon Wireless for over 6 years now. We thought, “hey , we only have about seven to eight months left in our current agreement, after we explain the situation, Verizon will understand and release us from our contract right way”. Given the fact that we have been so loyal to them for so many years. Well, guess what? We were dead wrong. After explaining our hardship situation…
Continue reading...How to Create a Budget
7. April 2009
By http://www.kiplinger.com Here are the basics of money management to help you take inventory of your finances and set goals. The world is mesmerized by money. A rack full of newspapers and magazines and a truckload of newsletters devote themselves entirely to chronicling the use and abuse of money. Cable TV beams money-related programming day and night. The Internet is jammed with money-minded Web sites. Money is a top-ten topic of family conversation, too. Considering that the subject occupies so much of our time and attention, isn’t it amazing that so many people have barely a clue about how to handle their own…
Continue reading...Should I Choose a Traditional, Roth, or SEP IRA?
27. March 2009
(source: cowbite) Choosing where to put your personal retirement savings can be a difficult choice. What do Roth and SEP even mean? Hopefully, the summary and comparative visual chart that follows will help to take the stress out of choosing where your retirement funds should be located and reaffirm the decision for those who have already made the choice. The Traditional IRA A traditional individual retirement account (IRA), is a retirement investment account that allows you to save up to an IRS set level each year towards your retirement ($5,000 is the maximum in 2009). Any contributions you make to a traditional IRA…
Continue reading...Bill
26. March 2009
Bill is a victim of loan modification fraud and has been on the news for the things he has gone through. I heard his story months ago from a person within the place that did him wrong. To be honest, I have been so busy I forgot all about the man for a month and a half, until I saw his story on the news. The ripple effect that the money he lost caused is going to be very difficult to stop, but I will try. I am meeting him and his wife this weekend and I hope to be of…
Continue reading...Should You Buy a Home Right Now?
25. March 2009
(Photo by Chad Jones) Conventional wisdom says that buying is preferable to renting. Instead of throwing money away on a home, you can invest in your future and have the sense of fulfillment that comes from owning a home. Turns out, conventional wisdom is wrong. Today, many long-term renters are in a much stronger financial position than many recent homebuyers, and the last thing these homeowners are feeling is contentment. But the combination of firesale prices on homes, the drop in mortgage rates, and government assistance in the form of the first time home buyer tax credit, may have you reconsidering…
Continue reading...The Bail Out Stats You Need to Know
22. March 2009
An excerpt from the book “$700 Billion Bali Out” by Paul Muolo -Basically they mean the government will rewrite loans that are worth saving by reducing the loan amount and writing a brand new loan insured by the governments own mortgage insurance company… What does this mean to you? It means you better be “WORTH SAVING”!!! By definition the term “worth saving” means that you are making the needed changes in your life and money to be able to repay the loan. Don’t be silly enough to think that the banks and or government (one in the same these days) want…
Continue reading...The meaning of ‘living within your means’
22. March 2009
Below your means? Within? Regardless of the difference, if you follow these simple steps, you’re living a financially responsible life. By Walter Updegrave, Money Magazine senior editor NEW YORK (Money) — Question: I’ve been having an argument with a co-worker about the difference between living "within your means" and living "below your means." I’m hoping you can settle the issue for us. What do see as the difference between the two terms? –Mark E., Peoria, Illinois Answer: I think the conversations that you and your co-worker are now having touch on an important issue that many Americans are now having to face after more than…
Continue reading...Considering Bankruptcy? Know This First
21. March 2009
Too many Americans believe bankruptcy is the solution to their credit abuse and misuse. There are many unpleasant and lasting consequences associated with failing to repay your debts and filing or being forced into bankruptcy. Avoid becoming a statistic and realize bankruptcy is an alternative of last resort. Bankruptcy appears on your credit report for 10 years. It will keep you from obtaining any more credit. You will incur court fees for filing. It can cause you and your family emotional stress, feelings of failure and embarrassment. Your personal financial affairs are open to the public. It could have a negative impact…
Continue reading...Meet Our Millionth User
20. March 2009
There are now a million people using Mint.com to better manage their finances and save money. Tami K, a 35-year-old married mother of two young girls, from Gresham, Oregon was looking to do some financial restructuring when her mother-in-law told her about Mint.com. Tami manages a dental office and is also the financial manager for her family. She says that Mint.com has changed the way she spends money. “I pay all of the bills in our household and my husband really doesn’t know what’s going in and what’s going out,” says Tami. We’ve never had a true budget and it came to the…
Continue reading...How to Avoid Rising Bank Fees
17. March 2009
In the wake of lost revenue amid record foreclosures, banking institutions have found a way to mitigate some of their losses – they are raising basic fees and pulling more money from their customers and account holders than ever before. In other words, the online bill pay service that used to cost $10 is now $12, and the service fee for your account recently went up $1 a month. Maybe an extra dollar or two doesn’t sound like much at first, but increasing an ATM charge from $1 to $2.50 brings in a sizable amount of money when you’re talking about…
Continue reading...Mint.com Can Help You Tremendously to Keep Track of Your Money
17. March 2009
Review of Mint.com: Free online money management I found this great article about Mint.com today and decide to share it with everyone since is very complete even though a bit old. Personally, I believe that Mint.com has come a long ways and improved tremendously the past several months. Keep this in mind while reading this article. I use it myself and I cannot stress enough how helpful this tool can be in helping you manage your finances. I would not pay for anything out there having Mint as a valuable free tool. I am a huge fan of money management software. Believe…
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- TurboTax Deluxe Federal + State + eFile 2008
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Asides 
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Here are the basics of money management to help you take inventory of your finances and set goals.
The world is mesmerized by money. A rack full of newspapers and magazines and a truckload of newsletters devote themselves entirely to chronicling the use and abuse of money. Cable TV beams money-related programming day and night. The Internet is jammed with money-minded Web sites. Money is a top-ten topic of family conversation, too.Considering that the subject occupies so much of our time and attention, isn’t it amazing that so many people have barely a clue about how to handle their own money? Amazing maybe, but no mystery: Americans typically manage to navigate 12, 16 or more years of very fine formal education without ever learning how to balance a checkbook, size up a stock or resist a fast-talking salesman of bad financial ideas. So here are the basics of money management, from setting goals to budgeting to figuring out your net worth.
- Take Financial Inventory
Find out what you own and what you owe, then track where your money goes. - Look at Cashflow
Take the time to find out where your money is going on a day-to-day basis. - Build Your Budget
Think of your budget as a means of setting and reaching your goals. Here’s help to get you started. - Keep More Cash
Dwindling savings and more debt are warning signs of a leaky budget. Find out how to keep spending under control and keep costs down. - Plug the Holes in Your Budget
If you start picking up distress signals, run your budget through these checks. - How to Set Financial Goals
The most important step toward financial security is to translate it into your own terms.
- Take Financial Inventory
10. April 2009
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