My Money

June 2010


Pay Off Mortgage Faster – or Invest?

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The stock market might be behaving badly, but that's not a reason to leave stocks out of your long-term financial planning right now. In fact, with the market near recent lows, you may be more interested in considering one of the most common financial conundrums for homeowners: Is it better to use ...

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personal finance

21 Things You Should Never Buy New

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If you’re looking to get the most value for your dollar, it would do your wallet good to check out secondhand options. Many used goods still have plenty of life left in them even years after the original purchase, and they’re usually resold at a fraction of the retail price, to boot. Here’s a list ...

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personal finance

How to Get Ahead on Minimum Wage

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Most people think you can’t live on minimum wage, much less get ahead. The current minimum wage in the U.S. amounts to a little over $15,000 a year before taxes. While it may seem impossible to live on such a small amount, it can be done. Here are some steps to take to stretch a mimimum wage ...

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personal finance

How to Manage an Unpredictable Income

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For many people who rely on trading their time and energy for money to afford the necessities of life, the economy has caused an increased level of stress over the past few years. Even those of us with relatively secure jobs and incomes have been more concerned that this perceived security could ...

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personal finance

Your Guide to the Debit Card Fee Changes

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You might think that Washington would be all about oil, jobs, and immigration these days. But the sleeper issue of the summer is turning out to be none other than debit card fees. Specifically, the fuss is over the fees that merchants must pay every time consumers swipe a bank debit card or prepaid ...

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personal finance

16 Business Lessons I Learned From Poker

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The game of poker shares many similarities to the game of business. The mechanics are different, but the principles are the same.

If you're not a player, I encourage you to start by joining that casual poker game at the barbecue this weekend. Then work to improve your game. Becoming a better poker ...

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personal finance

Want to Save? Concentrate on the Big Stuff.

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As a frugal blogger, I recommend lots of tips that will save you small amounts of money. I think these tips are worthwhile, especially if they save you money on expenses that are reoccurring. However, before you invest too much time in frugal tips to save a little money, you should make sure that ...

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personal finance

6 Ways to Cut Costs on Your Next Move

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Moving into a new place can be an exciting, stressful, and expensive time. There are movers to hire, apartments to scout, and belongings to pack. Whether you're moving into your first apartment, looking for a new place to call home, or are a budget-conscious student dreaming of your own study ...

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personal finance

10 Simple Steps to Freedom from Credit Cards

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People who use credit cards can be separated into two groups. The first group, Type A credit card users, use credit cards because they don't have cash available in their bank accounts to pay for purchases they need or want. The second group occupies the other side of the spectrum. They use credit ...

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personal finance

9 Money Moves for Savvy Graduates

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Congratulations, you graduated from college! Now, it’s time to get yourself on the right track financially. To make it easier for you, I've put together nine money moves you should make right now. You don't have to do them all today, you can pick and choose the ones that make sense and do them ...

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personal finance

Can Frugality Make You Rich?

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For many people, when they think of the rich, think of flashy cars, gargantuan homes, and lots of bling. They don’t think about the rich being frugal, but many wealthy people are among the most frugal folks around. When Sam Walton was the richest man in the world, he drove an old pickup truck.

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personal finance

Handling a Major Oil Spill in Your Own Life

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With the environmental tragedy unfolding in the Gulf comes some hard questions. How could the explosion have been prevented? What were the warning signs? Why is it taking so long to cap the well? And of course, how could the tragic loss of 11 lives been avoided?

While it may be some time before ...

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personal finance

When to Go Generic – and When to Pay More

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Generic brands suffer from a stigma. People tend to think those cheaper versions of name-brand products are of lower quality. But for many products, that's not true, and you're better off saving money and buying generic. In other cases, though, there really is a quality difference, and it's worth ...

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personal finance

Got Your Tax Refund? Now Analyze It.

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It's June and by now, unless you've requested an extension, you've probably had enough time to recover from preparing your taxes in April. If you think tax planning won't become a factor until December or next April, think again. Last year's tax return can provide a wealth of information you can ...

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personal finance

Ready to be Extremely Frugal?

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While the economy is recovering, many people’s finances are still tight. If you need to trim your budget or just want to cut your expenses, here are five extreme frugal measures you can take to save money. These frugal measures are probably too extreme for most people, so I have also included some ...

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personal finance

7 Money Mistakes We Make Every Day

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For all the financial advice we find in books, magazines, and online, we still make a lot of mistakes when it comes to money. Some of these mistakes might not cost us much, but others can cost us a small fortune. And even the small mistakes, multiplied over a lifetime, can add up to a princely sum.

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personal finance

10 Unusual Ways to Save Money Now

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My friend Jackie is frustrated with her savings progress. She works for a non-profit organization and she has a non-profit salary to go along with her job. Jackie is adjusting her lifestyle to the idea that she just won't have as much money coming in as she did before she left her more lucrative ...

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personal finance

6 Reasons to Keep Your Money in the Bank

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With all the bank failures and the volatility in the stock market, you might be tempted to take your money out of the bank and hide it in your home. In principle it sounds like a great idea. You hide your money somewhere in your home, you know it'll be there when you need it, and you don't have to ...

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personal finance