Last week, Mrs. Stew started a sentence with the words, “next time we buy a house . . . ” and then finished the sentence with her idea for our home at some point in the future. I responded that I did not think we were going to buy a house anytime soon, if ever. Of course, Mrs. Stew has heard the statement from me on many occasions over the past two years. I think she had been mostly dreaming out loud while making her buy-a-house plans.
Don’t forget to set your clocks ahead one hour this weekend. I would like to call for the abolition of Daylight Savings Time. Why in the world do we do this every year? Anyway, here are some articles that I enjoyed this week:
Be sure to stop by Green Panda Treehouse today and sign up for the free iPod Touch giveaway!
Ron at The Wisdom Journal figured out where our government learned math. Funny video, check it out.
Jason Topp, one of the writers at ChristianPF, posted a really challenging article about the best ways in which to help the poor. Outstanding post.
Insurance. Every time this word is heard, we frown; we get sceptical. We all know someone who has a “story about an insurance salesman. Since it is a commission based environment (if they don’t sell, they don’t get paid), many clowns become desperate and turn into i-want-to-make-a-quick-sale insurance agents. They hijack your emotions (look your wife and kids in the eyes and tell them how much you love them”¦ don’t you think they deserve financial security when you pass away?).
I remarked to my wife the other day that if we have no major, unexpected financial calamities this year, our financial situation might be back to where it was in 2002-2003. That is, back before we had our second and third child, before we went down to a single income, before I learned to budget, before we moved and before we took sixteen months to sell our home in another state. In financial terms, back to a below average debt-to-income ratio, back to being in possession of an emergency fund and back to being able to again contribute to our retirement savings. I do not want to count our chickens before they hatch and I probably just jinxed our prospects, but being almost back to even is a nice feeling.
As Frank Hubbard puts it, “The safe way to double your money is to fold it over once and put it in your pocket”. Do you think this is the only way out to save more money? No, it can never be this. Man is subjected to temptation and no one can ignore the sensation that money gives. However, the smarter way for you is to think and spend, than spend to think. If you are a geek or love gadgets, here is something very exciting for you. iPhone applications can now boost up your finances.
Dave Ramsey has done well for himself as a financial advice guru. He was one of the first people to recognize that our culture is steeped in debt, dependent on debt and that debt was enslaving the American culture. Ramsey has not been successful in changing our cultural dependence on debt, however, there are many individuals and families who owe him a great deal when it came to turning their financial house around. One of Dave Ramsey’s more controversial pieces of advice deals with FICO scores, also known as a credit score. Ramsey has said things such as: your credit score is an “I love debt score” and, Americans today are “worshiping at the altar of the FICO score.” He downplays the importance of a credit score on a regular basis and emphasizes his strategy of paying cash for everything.
Spring is springing in my neck of the woods. I hope you see the light at the end of the winter tunnel where you live. Here are some articles that I recommend this week:
The second installment of my time saving articles was featured at the 246th Edition of the Carnival of Personal Finance.
An article about making money online, written by my boss was featured at the Carnival of Money Stories.
Dough Roller asked if renter’s insurance is worth the cost. My policy is eleven bucks a month. I think it is worth it.
Before I start with this morning’s article, I want to ask you to vote for me in the Free Money Finance March Madness contest. The best personal finance article will win the right to give $1,000 (generously provided by FMM) to a charity of your choice. I have selected a charity that helps children. Please comment on this post with the word “figures”. Thx a million!
A long time ago, Benjamin Franklin or somebody said: “Early to bed, early to rise, makes a man healthy, wealthy and wise.” When I was young, I had the habit of sleeping in on Saturday mornings, I remember stumbling up the stairs around 10 am and my dad said, “the day is half over!” When I started college, I quickly learned the benefits of getting up early in the morning. First period at my college was 7:20 am and I was assigned first period for my entire first year at school. The early class time was not my choice, but by the end of the fall semester, I learned to enjoy getting up early and continued the habit for most of my college career. I even started getting up early on Saturday mornings to spend time in the nearly empty library. I got so much more accomplished when there were no distractions (girls) in that venue.
One of the best habits to do when making a budget spreadsheet is to create a monthly preauthorized deposit into a savings account. This cash can be used: to finance a purchase, for a vacation or as a basis for an emergency fund. So once you have determined the amount to be saved, you have to shop for the best high yield online savings account.
The very first thing we look at when thinking of a high yield online savings account is the annual rate. Ally Bank is offering a decent 1.39% (FDIC secured) interest rate.
