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April 2006


T. Chester has created a great site devoted to financial advice for his son. This is an excellent introduction to personal finance for anyone, and well worth the twenty minutes it takes to read. Some of Chester’s key points: The three most important precepts: The most powerful force in the Universe is compound interest! Savings is most important There is no such thing as a legitimate “get rich quick” scheme. Things to do before investing:…

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Get Rich Slowly is a personal finance site, not an investment site, but we will cover useful information on investing from time-to-time. This is one of them. The Investopedia has an enormous archive of articles on investing basics. Each week Investopedia focuses on a particular topic that will help you learn the fundamentals of investing. From stocks to bonds to asset allocation strategies, everything you read about is explained from the perspective of a new…

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MONEY Magazine has posted its picks for the top fifty jobs in America. Heading the list are software engineer, college professor, and financial advisor. To find the best jobs in America, MONEY Magazine and Salary.com, a leading provider of employee compensation data and software, began by assembling a list of positions that the Bureau of Labor Statistics projects will grow at an above-average rate over ten years and that require at least a bachelor’s degree….

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On my path toward frugality and simplicty, on my quest toward wealth, I’m often forced to choose between price and quality. (The middle path — a moderate amount of money for moderate quality — never appeals to me.) Sometimes I choose to spend a lot of money in order to obtain the best quality, reasoning that, for example, the best-made messenger bag will last a lifetime, whereas I’d be replacing that cheap five-dollar bag in…

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“The day my husband and I became millionaires was a lot like any other day.” Liz Pulliam Weston has a great piece up at MSN’s Money Central called “So You Want to Be a Millionaire”. Weston describes how she and her husband have used a goal-centered approach and hard work to achieve financial security. Pulliam writes: If you want to be a millionaire someday, I hope that our experience — and those of millions of…

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Frugal For Life has a good post encouraging people to stay focused on what’s important in the quest for financial independence. We complain because companies nickel and dime us to death, but don’t search out our own finances to find hidden expenses that are causing us to come up short. If you feel like your belt is tightened to what you can stand, you may be suprised at how much more you can handle and…

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The IRS Withholding Calculator “help[s] employees to ensure that they do not have too much or too little income tax withheld from their pay. It is not a replacement for Form W-4, but most people will find it more accurate and easier to use than the worksheets that accompany Form W-4. You may use the results of this program to help you complete a new Form W-4, which you will submit to your employer.” The…

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Sally’s Kitchen has tips on How to Budget Effectively, including an Excel spreadsheet template for download. There are some great ideas and suggestions here, simple things like: print out a small copy of your budget and tape it over your credit card so that every time you’re tempted to use it, you’re reminded of your goals; always shop with a list in order to avoid temptation; when shopping on-line, add items to your wish list…

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There’s a good thread at Ask Metafilter thread this morning: At what point is a car not worth repairing? My ten-year-old 130k-mile Saturn is showing its age pretty badly — leaking oil, disturbing noise coming from the front end, crumbling exhaust system. I’m having a tough time coming up with a satisfying way to determine if it makes financial sense to pay for the repairs or to just ditch the car and buy a new…

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Chris Zdeb of The Edmonton Journal has drafted a list of Forty Frugal Fitness Solutions. People don’t think there’s an alternative to having to spend money to get fit “because I don’t think our promotion of what you’re calling ‘frugal fitness’, has been as strong as our promotion of vigorous activity at fitness centers. But that’s partly because the people who are promoting the vigorous activity in fitness centers are the centers,” explains Wendy Rodgers…

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Missing Money is a database of state unclaimed property records. Common types of unclaimed property include: Bank accounts and safe deposit box contents Stocks, mutual funds, bonds, and dividends Uncashed checks and wages Insurance policies, CD’s, trust funds Utility deposits, escrow accounts Unclaimed property does not include real estate property There are other tools to find unclaimed real estate property.

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Two recent articles discuss teens and money. First, from CNNMoney, comes a report that teenagers aren’t getting any better at managing finances, despite classes on investing and personal finance. Second, SmartMoney offers suggestions for receiving more financial aid from colleges: Compare aid offers equitably Look down the road Assess third-party scholarships Ask for an aid review Leverage competing offers

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