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April 2008


This is a guest post from John Forman from The Essentials of Trading. Forman is the author of a book by the same name. He has been a trader of the stock and other markets for over 20 years, and is a professional stock market analyst for Thomson Reuters. The wealth building potential of the stock market is enormous. I think we all realize that. The long-running debate, though, is whether one is better off…

This is a guest post from my wife, who has her own little fan club around here. Maybe she should start a food blog! Asparagus used to be one of those foods that I loved to eat restaurants, but rarely made at home. For some reason I thought it was difficult to prepare, or that you needed special equipment to do so. Eventually I learned the error of my ways, and I’ve been happily cooking…

In yesterday’s discussion about how to stop junk mail, icup mentioned using junk mail for mulch. Intrigued, I asked for more information. Here’s what he had to say. I’m more interested in saving money than saving the environment, but when I see junk mail piling up every day, it makes me stop to think about the sheer amount of waste that junk mail creates. As a homeowner with multiple mulch beds, I also feel a…

I have too much Stuff. Odds are, you do too. In fact, Americans own so much Stuff that they don’t have room to store it all. Our basements and attics are full. Our garages and workshops are overflowing. Our passion for Stuff has spawned a growing industry devoted to providing space for all of the crap we own. This afternoon on NPR, Marketplace featured a story about the recession-proof self-storage industry. Reporter Andrew Phelps originally…

This article is part of Financial Literacy Month. Most Americans receive a daily flood of junk mail. Some savvy citizens take a stand against the torrent. My friend Pam gets great delight from calling the sender of every catalog she receives in order to be removed from their mailing lists. This works well, but there are easier ways to deal with the problem. Here’s a list of four tools you can use to keep the…

When you leave your job, you have several choices regarding your 401(k). These options for a 401(k) rollover are pretty much universal, meaning they apply to every 401(k) and to every job change situation. Your options are: Cash the 401(k) plan and receive a full pay-out I’ve listed this option first because it has the most serious ramifications. First, if you take a full payout, you will have to pay taxes on the plan —…

This article is part of Financial Literacy Month. I’ve never been a budgeter. Budgets seem too prescriptive to me — I prefer to use a “spending plan” instead. But after a month as a full-time writer, I suspect a budget may be in my future. My income is fine, but it’s highly variable. I’m accustomed to a steady, consistent paycheck, and I don’t have that anymore. I also have some savings goals that I’d like…

I wasn’t raised in a culture of saving. My parents never made it a habit, and so could not pass the skill on to me or my brothers. In fact, I didn’t establish my first savings account until three years ago, when I was 36 years old! (I had a passbook savings account as a young boy, but it never had more than $5 in it.) Minor-league start Soon after I decided to take control…

This is a guest post from my wife. I’ve been gardening for almost fifteen years. I started with flowers, added herbs and vegetables, then a few fruits, then a lot more. I’ve gardened in plots and pots and raised beds. I’ve drooled over bedding plants, spent too much on whatever was my obsession-of-the-moment (bulbs! daylilies! gooseberries! ornamental grasses!), and have certainly read my fair share of plant books and magazines. By this time, I’m somewhat…

I’ve been working at home for a month now. I like it. The first week was a little scary, but the past few weeks have been immensely productive. I’ve caught up on e-mail. I’ve conducted and given some interviews. And I’ve planned some posts for the future. Most of my day is spent at my desk writing. The first few days were awful. My wrists hurt. I couldn’t find the right chair height to match…

I write a lot about frugality, about saving for the future. But what about enjoying life today? My friend Matt recently asked, “Amid all the saving and sacrifices you make to keep your financial life in order, what is your one extravagance that you deem worth spending money on? I know with you it’s that Filson clothing stuff, right? Maybe Apple products?” He’s right. I love both Filson and Apple. I don’t often splurge on…

I hate ants. At our old house, Kris and I were constantly at war with the little devils. Every time we suffered another invasion, every time they managed to find the pantry, every time they discovered the cat food, every time they ruined my chocolate chip cookies, I would berate them with colorful euphemisms. Eventually it got so bad that we had to bring in an exterminator. It seemed crazy to hire an exterminator to…

Yesterday, in his final piece for The Wall Street Journal, Jonathan Clements shared what he learned from writing 1,008 columns about personal finance in 26 years. What is the reason for all this saving and investing? The short answer is, you save now so you can spend later. But what will you spend your money on? People dream of endless leisure and bountiful possessions. Unfortunately, after a few months, endless leisure often seems like endless…

This is a guest post from Jason, who is the author of World Fitness Network, a blog that will teach you how to lift weights, live strong, and change the way you look and feel. Sometimes a few simple actions can save you money year after year. The negotiation process is definitely one of those times. Negotiating works especially well when you deal with a salesperson who is paid by commission. These salespeople often have…

“Saving is the key to wealth,” I wrote last week 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,…

Ralph sent me e-mail last week describing a clever budget trick he picked up from a friend: My wife and I had dinner last night with a couple of of young women we know. We talked a little about personal finance. One of the girls has an interesting idea on forced savings. She calls it “reverse credit”. “When I want to buy something expensive, I go to the store and buy a $20 gift card,”…

April is Financial Literacy Month, during which Get Rich Slowly will explore the fundamentals of personal finance. Today we’ll take a quick look at diversification. Last year, I shared a series of YouTube clips from Michael Fischer, who is on a mission to educate people about essential personal finance skills. His book, Saving and Investing, is 132 pages of fantastic financial information. Fischer doesn’t provide any scams or gimmicks — he just gives the facts….

This is a guest post from Pinyo, author of Moolanomy, a personal finance blog about money, wealth, investing, and more. Ever wonder why some people can never do wrong? I have been observing successful people around me, and experimenting with different ideas. Here are the seven traits that I’ve found work well for me in many situations. I think they will make you richer and more successful in many ways. Successful people know what they…

Writing for Kiplinger.com last month, Erin Burt laid out some tips to help conquer your fear of investing. This article is specifically aimed at those who are nervous about getting started in the stock market. She writes: The thought of possibly losing any money is a terrifying prospect. And the fact that today’s economy has seen better days probably isn’t helping those fears. Investing in the stock market has its risks. But if you give…

If you are young, you may not think you need to invest or open a retirement account. You probably think it is easier to worry about it five years from now — or ten. You’re wrong. Time is on your side now, especially when it comes to compound interest. No matter what your age, now is the time to begin saving for retirement. In The Automatic Millionaire, David Bach writes, “The single biggest investment mistake you can…