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Posted
Sep 04 2008, 05:49 AM
by
Karen Datko
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This post comes from Trent Hamm at partner blog The Simple Dollar. If you're a regular reader of The Simple Dollar, you're probably not the person I'm writing about here. Instead, this article is appropriate for your brother or your sister or that friend of yours down the street. We all know people who have the equipment they need to be a financial success. They have their wits about them, they're earning a solid income, and yet there's something that's keeping them from being a financial success -- and that's a fear of money management. They'd rather do almost anything than deal with or think about money issues. Not only is it boring to them, it's often as scary as can be.
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Posted
Sep 02 2008, 05:11 AM
by
Karen Datko
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This post comes from partner blog Blueprint for Financial Prosperity. Raiding your retirement is the second deadly sin of personal finance (the first deadly sin is failing to have an emergency fund) and one that some of our friends have been thinking about committing. We're all in our late 20s and buying our first homes. Despite what the experts say, home prices are still very high in the Baltimore and Washington, D.C., areas, barely within reach for many people our age. So, our friends are looking for places they can tap to help with a down payment.
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Posted
Aug 27 2008, 05:06 AM
by
Karen Datko
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This post comes from partner blog The Dough Roller. You've decided to invest in your future. You've picked the perfect mutual fund. You're ready to go. Now what? How do you actually go about buying shares of a mutual fund? The good news is that buying shares is quick and easy. If you've never invested in a mutual fund outside of your employer's 401(k), the process can seem overwhelming. But the truth is that for DIY investors there are only two options to consider, and both options are inexpensive. I'll cover them both in this article.
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Posted
Aug 25 2008, 05:46 AM
by
Karen Datko
This post comes from J.D. Roth at partner blog Get Rich Slowly. "The Mole" is a certified financial planner and public accountant who, in his spare time, provides a behind-the-scenes view of the financial-planning industry for Money magazine. In a recent column, the Mole explained how to deal with a bad 401(k) plan. "401(k) providers don't actually care how they make money," he writes, "just as long as they make a tidy profit." The providers can make money by:
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Posted
Aug 06 2008, 06:23 AM
by
Karen Datko
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This guest post comes from Silicon Valley Blogger at The Digerati Life. We live with them all the time -- those money leaks that burn holes in our pockets ever so slowly. Often, we find ourselves spending a little bit here and there, and before we know it, we're scratching our heads wondering where our money went. But it could be worse: Our credit card bills can grow to the point when they can be unmanageable, a situation we should all try to avoid before debt becomes too overwhelming to handle. At my household, we're trying much harder to be economical as we face financial uncertainties over the next few years. Both my husband and I are now self-employed and facing a short-term income shortfall until we get our business ventures off the ground. This has prompted us to work on optimizing our family budget much more carefully and to keep a closer eye on those extra costs that add up. In doing so, I've realized something -- that money leaks don't just lead to growing debt. It has dawned on me that even if we can seemingly afford these small outlays -- what's an extra $2 for a pack of gum and a bottle of Calistoga? -- the money we spend actually has an opportunity cost, which in itself can be quite huge.
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Posted
Jun 25 2008, 06:40 PM
by
Karen Datko
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Driving his pickup is now out of the question since $75 didn't even buy three-quarters of a tank -- and his plan to limit his driving to locations downhill from home has a serious flaw. So Kyle at Rather Be Shopping came up with "Frugality in practice (sorta): 5 great new uses for my truck." No. 1 on the list is "storage, baby!" His pickup has a shell, which makes it perfect for storing the lawn mower and other things you'd normally keep in a shed. Bonus: The gas tank serves as a storage tank for fuel for the mower. (Honestly, folks, complaining about gas prices gets us nowhere, so we might as well have a few laughs.)
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Posted
Jun 23 2008, 05:44 AM
by
Karen Datko
This post comes from J.D. Roth at partner blog Get Rich Slowly. Financial news can be dangerous to the health of your investment portfolio. I spent some time recently reading articles about the stock market. What I found was mostly hysterical hype ("Gasp! Dow Jones Industrials tumble 400 points!"). All the financial stories seemed to be written as if our investment horizons were days, not years. No wonder people panic when the stock market hits a rocky patch. But do daily market movements -- even 400-point drops -- really matter? How important is up-to-date financial news to the average investor?
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Posted
May 08 2008, 08:32 PM
by
Karen Datko
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The cost of a first-class stamp is going up yet again on May 12, by one penny to be exact. The smart shopper will lock in the soon-to-be-departed 41-cent rate for a standard letter  by stocking up on the forever stamp. The U.S. Postal Service introduced the stamp about a year ago so people can avoid having to buy those annoying 1- or 2-cent stamps every time the rates go up. The forever stamps you buy now for 41 cents will cover the postage for a letter weighing no more than an ounce no matter how high the first-class rate climbs. Love may not be forever, but this stamp is.
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Posted
May 06 2008, 07:06 AM
by
Karen Datko
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This post comes from partner blog Blueprint for Financial Prosperity. Having grown up on Long Island, I didn't have many opportunities to watch NASCAR on television, so I never truly understood the intricacies of the sport. Since college, I've come to appreciate the difficulty of NASCAR and the skill it requires. Last weekend I was watching a few laps of the Goody's Cool Orange 500 at Martinsville Speedway, and I finally understood why NASCAR fans love the sport.
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Posted
May 05 2008, 04:08 AM
by
Karen Datko
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This post comes from J.D. Roth at partner blog Get Rich Slowly. "Saving is the key to wealth," I wrote recently while trumpeting the extraordinary power of compound interest. "If you do not spend less than you earn, and if you do not save the difference, you cannot build the wealth you desire." The younger you are when you begin saving, the more time compounding has to work in your favor, and the wealthier you can become. "The next best thing to starting early," I wrote, "is starting now." Other options A few readers noted that while the mathematics of compounding makes sense, it's not motivational for those too old to take advantage of its full force. "This is pretty depressing for those of us who spent our 20s with practically no income thanks to universities," wrote one reader. Her sentiments were echoed by several others.
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