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Viewing profile - Save&Spend

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Joined: Fri Jan 16, 2009 6:25 pm
Last visited: Wed Mar 25, 2009 1:37 pm
Total posts: 30
[0.03% of all posts / 0.01 posts per day]
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Most active forum: Personal Finance
[ 25 Posts / 83.33% of user’s posts ]
Most active topic: Help me understand CapitalOne auto loan (prepayments)
[ 3 Posts / 10.00% of user’s posts ]



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 Forum: Personal Finance   Topic: The CD Chain. Your thoughts?

Posted: Wed Mar 25, 2009 1:34 pm 

Replies: 17
Views: 4886

We've done the 12 monthly cds in the past and will again in the future. We stopped this year because the rates are so low. As the cds mature, we've been putting them into our savings account. We'll return to the monthly cds when rates rise to 3.5%.

 Forum: Personal Finance   Topic: Can you save too much for retirement?

Posted: Tue Mar 24, 2009 6:59 am 

Replies: 23
Views: 6123

Michele, I like this questions. I believe that I could save too much for retirement. I find it difficult sometimes to balance the wants of today with the wants and needs of tomorrow. I think we all want to retire comfortably and we all have different definitions of a comfortable retirement. I want t...

 Forum: Personal Finance   Topic: First Real Reason to Post Now

Posted: Tue Mar 24, 2009 6:33 am 

Replies: 4
Views: 1807

If I were in your shoes, I would keep all the cash that I could until one of you finds work. Unfortunately, it can take even a very tallented person a long time to find work. I would pay the min on credit cards and stop contributing to retirement accounts, and cut expenses. Then, when one of you fin...

 Forum: Personal Finance   Topic: What do you spend on food?

 Post subject: What do you spend on food?
Posted: Mon Mar 09, 2009 2:11 pm 

Replies: 37
Views: 8176

Sean Callebs from CNN lived on a maximum food stamp allotment of $176 for one person for a month in February. I enjoyed following his experiences. I reviewed our food expenditures for Jan & Feb. In Jan, we spent $308.85 and in Feb we spent 395.77. There are two people in my household. The grand ...

 Forum: Personal Finance   Topic: Investing/Saving For Parents with no retirement plans

Posted: Sat Mar 07, 2009 2:29 pm 

Replies: 3
Views: 1419

Hello- I don't know about the legal part of your question. However, you may want to consider a traditional IRA due to the tax implications. If they will have very little taxible income in retirement, their retirement tax rate is likely to be less than their preretirement tax rate. The money that you...

 Forum: Personal Finance   Topic: Adult Allowance

Posted: Fri Mar 06, 2009 3:28 pm 

Replies: 6
Views: 1963

I'm glad that you posted this topic. DH and I were discussing this very thing yesterday. I *think* we're going to divide our "allowance" money into thirds: one for him, one for me, and one for our joint purchases. I agree with the other posters that joint purchases can approach a fine line...

 Forum: Personal Finance   Topic: CD Ladder Question

Posted: Tue Mar 03, 2009 12:31 pm 

Replies: 4
Views: 1862

I've used CD laddering fairly often. However, currently, the returns don't seem worth it to me just as graphicgeek mentioned. Currently, we're keeping most of our money in our savings account because it's not earning that much less than a cd. We still have some cds that our earning decent interest f...

 Forum: Fiscal Fitness Journals   Topic: 2009 Goals

Posted: Tue Mar 03, 2009 12:22 pm 

Replies: 67
Views: 22489

Glad to hear that no one was hurt! YIKES! I was in a similiar accident in '06 and my van was totalled. Eventually, the other driver's insurance paid, but I was very thankful for our EF during that time. We purchased a used van months before the insurance claim was final. I hope that process goes smo...

 Forum: Personal Finance   Topic: "Produce the note"?

Posted: Thu Feb 26, 2009 7:18 pm 

Replies: 17
Views: 5089

I agree that it's stalling, but I am also amused. I've dealt with Banks when they've made an error on my account. I certainly had to have all my proof in order to get the mistake corrected. It's kind of funny that they're now in my shoes. In honest defense of the banks accuracy, I've been banking fo...

 Forum: Personal Finance   Topic: Is our EF too large?

Posted: Thu Feb 26, 2009 10:09 am 

Replies: 9
Views: 2860

Thanks for the thoughts. Jana - We haven't contributed much to our EF for several years. We've made small adjustments to deal with cost increase. We set aside money regularily for this account, but often find the account full. Graphicsgeek & Tim - Risk is at the root of this question. We're cons...

 Forum: Personal Finance   Topic: Is our EF too large?

 Post subject: Is our EF too large?
Posted: Wed Feb 25, 2009 8:30 pm 

Replies: 9
Views: 2860

Here’s situation. We have income from wages and some side businesses – mostly real estate. We have 12 months worth of expenses including basic living expenses and basic business expenses. We have no debt. We’ve been wondering if this is too much as it seems unlikely that we’d lose all sources of inc...

 Forum: Personal Finance   Topic: Anyone know the details of car loan calculations?

Posted: Wed Feb 25, 2009 8:24 pm 

Replies: 13
Views: 3570

Hi Mojo! Here’s an example of how most loans work. Let’s say you made a payment on 2/25/09; the remaining balance equals $20,000 Interest = 7% Daily Interest =.07/365 Interest = Principal*(Interest Rate)/365*Days The next payment of $1000 is made on 3/13/09. It’s 16 days since the last payment. Inte...

 Forum: Personal Finance   Topic: Help me understand CapitalOne auto loan (prepayments)

Posted: Wed Feb 04, 2009 4:10 pm 

Replies: 13
Views: 7333

I've never heard of a bank that allows principle only payments. All loans that I'm familiar with say something like payments will be applied first to interest and then to priniciple. Back to your question about 2 payments of $150 vs 1 $300 payment in a month. In a month's time, it will not make much...

 Forum: Personal Finance   Topic: Help me understand CapitalOne auto loan (prepayments)

Posted: Wed Feb 04, 2009 2:36 pm 

Replies: 13
Views: 7333

Time is a key element of any loan. I'm not aware of any loan where time does not matter. Paying earlier has HUGE benefits. For example a loan of $10,000 at 6%: 3 Year Loan has a payment of $304.22 and the total interest cost is $951.92. Total payments = $10,951.92 10 Year Loan has a payment of $111....
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