Best Investment for 2009: Use your Emergency Fund to pay off your debt


Just by writing this title, I already know that people won’t agree with this strategy. How can you tell people to get rid of their emergency fund while we are in one of the most important recessions ever? So please, keep reading until the end of the post, I promise to make sense ;-)

First things first, I am a big fan of the “pay yourself first“ technique when it comes to personal finance. If you consider yourself as a priority creditor, you will put money aside for your personal finance and then, live off the rest. Many of my clients are asking the same question with regards to extra money: Should I pay down my debt or invest the difference?

A fragrant aroma

incense

This passage is one of the most instructive passages regarding money in the New Testament. The end of this letter is more or less a simple thank you note to the Philippian church, but it throws back the curtains to show the secret of Paul’s contentment in Christ. The passage does not need a great deal of commentary, but let us just look at a few things that have been a challenge and encouragement to me. I hope your financial insight is deepened as well:

Festival of Frugality #201 – Life Stages & Home Ownership Lesson Edition

Festival of Frugality – Life Stages & Home Ownership Lesson Edition

Welcome to the #201 Festival of Frugality!

If you are new to Gather Little By Little, I can suggest a few of our great posts:

- How to open an online store

- Alternative Income From Internet

- My own Budget Spreadsheet

- You Need a Budget Review

This edition is about life stages and home ownership. When we are young, most dream of owning our first home. It may be small, it may be old, but once it is ours, it’s the most beautiful place on earth to live!

A dozen (or so) ways to make a few extra bucks

raking

Everybody is looking for ways to make extra money these days. Since I started working for money around age 12 or 13, I have always had several streams of income. Someday, I hope to be able to live on a 40 hour workweek . . . someday. But until that happens, here are some extra ways to make some cash. Keep your eyes open, be creative, find something that works for you.

Friday Gathering: The Yankees are probably going to win it again Edition

yankee stadium

Here are some articles that I like this week. I hope you find something to think about!

Craig Ford at Moolanomy asked should parents have a financial double standard for sons and daughters? I have both.

Mighty Bargain Hunter is worried that the new credit card legislation will result in higher costs for responsible credit card users. He might be over reacting, but the history of government interference in private enterprise is not good. It almost always has unintended consequences.

Patrick at Cash Money Life helps us find the best rates on a Roth IRA.

5 steps to follow to make sure you do not lose everything to the next Bernie Madoff

It was a good news story wasn’t it? Much of the world did not even know what a Ponzi scheme was, let alone that it could provide a way for Bernard Madoff to perform the single most important fraud ever. On the surface, it is interesting and certainly a sensational way to sell newspapers. But beneath the surface lies a much bigger issue. Fact is that almost any investor could be fooled by such a scheme. Many of the investors that lost everything did not even know they had investments with Bernard Madoff. It has become very important for all investors to take measures to avoid falling victim in similar situations. Losing your lifetime savings or every penny owned by a charitable foundation is tragic enough when you hear about it on TV. Just imagine when you are centre stage of such a drama.

Why I will probably never buy gold

gold

Important: I am not an economist or an investment advisor. Everything you read here is simply opinion based on my limited knowledge and (hopefully) a little common sense.

Lately, I have been hearing all kinds of advertisements for gold. Whenever my six year old sees those “cash for gold” commercials, she tells me to sell all our gold for money. The problem is that we have almost no gold . . . jewelry or otherwise and that does not look like it will change in the near future.

Ask me anything returns

question mark

This is Stew and I am going on six months of posting here at Gather Little by Little. I am thankful to Glblguy for originally giving me the opportunity to write for a blog of this size and also greatful to Mike for allowing me to continue in this role.

Money Savings Tips for a Wedding


Marriagecopy

Congratulations! You are going broke! I mean”¦ getting married! As I mentioned in my first post on how to save money for a wedding over at my other blog, my best friend is getting married next spring (and I also have a sister-in-law getting married at the end of next summer, in 2010). So, while I will end up  broke in 2010, as I am the best man for both weddings, I will try to share all the money savings tips related to  weddings that I could find:

Money Savings Tip #1: Talk to people

Friday Gathering: Indian Summer Edition (can I say that?)

indian summer

My daughter has requested a fairly expensive Halloween costume. She wants to be “Kit” from the American Girl book series. Hopefully I can convince her to accept one of the low cost costume ideas from Lynnae at Being Frugal. I am also taking suggestions.

Jason, one the writers at Bible Money Matters tells what you need to know about money management. As GI Joe used to tell us “knowing is half the battle”.

Craig at Christian PF puts a price tag on what it costs to raise a child. Take a look, it might be less than you thought and his numbers are closer to what my family spends rather than the numbers given by “conventional wisdom”.

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