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Paying Someone Else To Do Your Chores
Tweet Share on Facebook June 30, 2009 Comment (4)I've always liked the idea of outsourcing certain domestic duties. Sure, it's more expensive to pay someone to clean your home than to do it yourself, but if your energy would be better used elsewhere, then it can be worth it. When I put out a call on Twitter for people who choose to outsource their chores, I heard from others who feel the same way, including Madame X of My Open Wallet. When she lived in a Brooklyn apartment building without washers and dryers, she had to do her laundry at the laundromat around the corner. As anyone who has used a laundromat knows, walking back and forth and waiting for yoru clothes can be a time consuming process.
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Did Debt Contribute to Michael Jackson's Death?
Tweet Share on Facebook June 29, 2009 Comment (8)Michael Jackson's money struggles were well-known: He owed some $300 million to Barclays Bank, and sold part of his stake in the rights to Beatles songs in 2005 in an attempt to shore up his finances. Even though he earned an estimated $1 billion over his lifetime, he may have spent just as much -- on his Neverland Ranch, security, medical treatments, and legal troubles, leaving his estate essentially broke. (It will likely take years to work out the details of his estate, including who gets what.)
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When Religion Helps Bring Financial Security
Tweet Share on Facebook June 29, 2009 Comment (2)Today’s guest post comes from Matt Bell, a personal finance speaker and author of two books, including Money, Purpose, Joy. I asked him to explain the role religion plays in his financial life.
For most of my growing up years I didn’t think money and faith had anything to do with each other. The only time I saw the two topics coming together were on the rare occasions when I went to church. There was always that awkward time in the service when they would pass the plate and people would throw a few bucks in as it came their way.
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The Rise of the Stay-At-Home Dad
Tweet Share on Facebook June 26, 2009 Comment (11)In The Daddy Shift: How Stay-at-Home Dads, Breadwinning Moms, and Shared Parenting Are Transforming the American Family, Jeremy Adam Smith explores the lives of fathers who decide to become primary caregivers to their children. Smith himself opted to scale back his own work schedule so he could be home with his then-one-year-old son, and felt like the odd person out on the local playground until he met other stay-at-home dads. I recently spoke with Smith about why more fathers are making the decision to prioritize caregiving over their careers, and how they are treated by others. Excerpts:
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The Challenges (and Rewards) of Part-Time Work
Tweet Share on Facebook June 25, 2009 Comment (9)Today's guest post is by Sharon Reed Abboud, author of All Moms Work: Short-Term Career Strategies for Long-Range Success:
To work or not to work…many new moms grapple with that issue. Some moms decide to stay home for months or years, if it is economically feasible. Others continue to work full-time. Still others decide to reduce their hours to part-time, and remain on their career path, although possibly on a slower schedule.
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Couples Say Separate Money is Better
Tweet Share on Facebook June 24, 2009 Comment (1)I recently checked back in with two of the couples that I profiled in two stories on relationships and money -- specifically, whether it makes more sense to keep money separate or combine it. Now that more than a year has passed, I wanted to know: Were they still keeping their money separate? Had they made any adjustments to their approach?
The reasons for keeping at least some money separate are pretty obvious: Some couples enjoy the independence of their own "fun money" account, so they can splurge on golf or a pricey hair cut without checking in with their significant other. But marriage counselors, and some couples, often say that sharing everything suggests a joint approach that reflects well on the couples' ability to handle conflict and disagreements. -
Audio: The End of Social Security
Tweet Share on Facebook June 24, 2009 CommentOver the weekend, I spoke with WTOP in Washington about my recent story on how to prepare for the end of Social Security. One idea: Save more now, on your own.
The End of Social Security
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How to Manage Money in Marriage
Tweet Share on Facebook June 23, 2009 Comment (9)I've been following the tweets of Dr. Taffy Wagner for a while now, and I always enjoy her perspective on managing money within marriage. She recently reminded her Twitter followers, "Discussions about money should not be a power struggle. You are in the marriage together." She also asked, "If you knew then what you know now about money and marriage, would you have said 'I Do'?"
As an ordained minister and personal finance educator, Wagner often incorporates her faith into her work. Wagner, an Air Force veteran, is also open about her past struggles with debt in her own marriage, and how she manages today as a working mom of 7-year-old twins. I recently spoke with Wagner about her work and advice. Excerpts:
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Affording Kids on a Recession Budget
Tweet Share on Facebook June 22, 2009 Comment (1)Nan Mooney, author of (Not) Keeping Up With Our Parents, has long pointed out the financial stresses that 20, 30 and 40-somethings face: Wages haven't risen along with expenses, from housing to child care to college tuition. "A lot of us now are in two-income families yet still can't seem to support our families in the way that single-income families used to," she says.
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Letter to a Young Investor
Tweet Share on Facebook June 19, 2009 Comment (6)George Papadopoulos, a certified financial planner, recently forwarded me a letter that he wrote to a 21-year-old friend of his who had asked for his thoughts on how to be financially secure. I liked his advice; here are some excerpts:
