My Money

August 2010


The Myth of Zero Percent Financing

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With unemployment near double digits and our economy a little battered, you might be looking for some relief when it comes to your credit or debt. There are many 0 percent offers out there, from balance transfers to financing on big purchases, that may not be quite as good as they seem on the ...

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personal finance

10 Things You Should Know About Saving

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One of the most important things you can do for yourself -- and your future -- is to set aside money for saving. Opening a savings account is a good way to start. A habit of saving can help you achieve financial freedom, since you will be prepared for emergencies, as well as prepare for the future ...

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personal finance

Don't Stop at the Latte Factor

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Schools throughout the country are beginning to introduce money management lessons into mathematics classes. For a young public that is confused about compound interest, doesn't know how to balance a check book, and wonders how their lives become consumed by debt, more attention on personal finance ...

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personal finance

Six Popular Credit Score Myths

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Your credit score is one of the most important numbers in your life and one of the most misunderstood. So many people don't understand how the credit scoring system works because Fair Isaac Corporation, the designers of the FICO credit score, gives only vague hints as to how they calculate it. It's ...

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personal finance

New Credit Card Rules Tackle Fees, Rates

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Your credit card is about to become more consumer-friendly. The Credit Card Accountability Responsibility and Disclosure Act of 2009 authorized the Federal Reserve to implement new rules regulating the credit card industry. Many of these rules took effect on February 22, 2010, including 45 days ...

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personal finance

How Your Savings Account Is Ripping You Off

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Savings accounts were created as a way of helping bank customers put money away for a particular purpose. These accounts used to be low-balance requirement, no-fee, high-interest bearing savings vehicles. It appears that banks have forgotten this and are now trying to use savings accounts as a way ...

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personal finance

17 Cheap Ways to Jumpstart Your Metabolism

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A healthy metabolism will keep you in shape and raise your energy levels, both of which are essential to smart money management. By staying healthy, you'll save money on health care costs while maintaining your ability to earn a living. Your metabolism – more specifically, your metabolic rate – is ...

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personal finance

15 Things You Shouldn't Be Paying For

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So much money and energy is wasted on things we could get for free. If you're into new, shiny things and collecting stuff, this is not for you. But if you want less clutter in your life and want to keep more of your money, then check out these 15 things you shouldn't be paying for.

[Slideshow: 8 ...

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personal finance

Five Small Expenses That Wreck Your Finances

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It’s easy to focus on the big expenses in life, such as buying a home or a car. But it can be the smaller everyday expenses accumulated over a lifetime that really impact our finances. Some call it the latte factor. Whatever name you give it, watching the smaller, recurring expenses can go a long ...

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personal finance

5 Reasons to Skip the Diamond Engagement Ring

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You’re ready. You have the entire scene planned out in your head, every detail plotted and mapped until it’s perfect. At the climax of this mini-drama, he will bend on one knee and present to you a beautiful diamond ring — or, if you’re the one proposing, you will watch as her expression changes ...

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personal finance

How to Sink Your Credit Score

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The suits at Fair Isaac Corporation sure are good at what they do. How else can you explain the meteoric rise in importance of the lowly credit score? It's not just any credit score, either. The FICO credit score stands head and shoulders above the competition by a wide margin. In fact, all ...

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personal finance

Declutter (and De-Stress) Your Financial Life

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Back in the day you could manage your money with a passbook savings account, checkbook, and notepad. When I was growing up, most families didn’t have credit cards to keep track of, let alone a half-dozen of them. Families didn’t manage investments in 401(k) and IRA accounts either, instead relying ...

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personal finance

5 Financial Tasks to Do Today

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Optimizing your finances is a constant game of tax planning, fee-avoidance and risk mitigation -- not to mention coming up with ways to increase your income and reduce your spending. Mid-year is a good time to take a look at what you have done so far and what you need to do before the end of the ...

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personal finance

5 Ways to Find Cheap, Local Fun

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There is no shortage of things to do in a buzzing metropolitan area, and with the Internet at your fingertips (and in your phone), you can find popular after-work and weekend events and activities in a matter of seconds. But if you’re looking to avoid long drives, large crowds, and possible ...

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personal finance