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Things That Will Be More Expensive in 2012
Want to know what you are going to be spending your money on in 2012? Dealnews.com researched and listed price adjustments that consumers can expect to see in 2012. Some increases seem almost customary, like ever-rising gas prices, while others, like a potential 25% hike on tap water, are bit more surprising.
Airfare
Greater demand and fewer available airline seats will likely lead to higher ticket prices for flights next year.
Digital Cameras
Smartphones have quickly replaced budget friendly point-and-shoot cameras, so manufacturers and… More »
$110,000 Mistake
What would you do if the IRS accidentally deposited over $100K in your account? Call them right away and let them know about the error, or spend a little and hope no one catches the mistake? Well, Stephen McDow did the latter — and now his decision is costing him.
Last September, the IRS deposited $110,000 into McDow’s bank account in error. Apparently the intended recipient had closed her bank account and the number was re-assigned to McDow. When the woman… More »
Does Your Wife Make More Than You?
I make more money than my husband. Granted, he’s working on a Ph.D. right now so his earning potential is limited, but I’m still the primary breadwinner. But even after he is done, chances are that my earning potential will still be higher. I am in the minority in this area. But, apparently, not as much in the minority as I used to be. The Pew Research Center recently published a report about “the rise of wives” as breadwinners, and… More »
Personal Finances and Charitable Giving
The recent, devastating earthquake in Haiti has me thinking about charitable giving and how it fits into personal finances. Ask Mr. Credit Card wrote a post, encouraging us to give to the cause. I give regularly to my church congregation’s humanitarian fund, and I can specify that some of my donation go to help efforts in Haiti. Which is what I am doing.
It may seem counter-intuitive, but many personal finance gurus cite charitable giving as one of the most important… More »
Could You Stop Spending for 21 Days?
They say that if you can stop doing something for 21 days, you will break a habit. So the idea behind The Power to Prosper: 21 Days to Financial Freedom operates on the principle that if you can stop spending for 21 days, you might break some of your bad money habits. And it is an interesting way to get in the habit of conscious spending.
This book is written by Michelle Singletary, and encourages you to stop using credit cards… More »
Financial New Year’s Resolutions
Forget the cynicism of New Year’s resolutions for a minute. Even if you don’t keep all of them, you are still more likely to accomplish more of what you want than those who don’t bother to make any resolutions at all. So, with that in mind, consider what you’d like to accomplish in your financial life next year. 2010 is the start of a new year — and a new decade. You might as well put some serious thought into… More »
Getting Rid of Unwanted Christmas Gifts
Christmas is over, and it is little surprise that the time directly following Christmas represents the busiest time for store return departments. Many people are taking back unwanted Christmas gifts. Cash Money Life has some great suggestions for how to deal with unwanted Christmas gifts:
Sell it: Just sell it. Even if you don’t get “full price” you are still getting cash you didn’t have before — for free.
Regift: As long as you don’t get caught, regifting can be a great… More »
5 Helpful Hints for Paying Down Debt
As the year draws to a close, many begin to look at the financial situation and make resolutions to improve it. This is especially true when one focuses on the build up of debt related to holiday spending. So, what can you do? Here are 5 helpful hits for paying down debt:
1. Brutal Honesty
The first thing you have to do is have an idea of where you are at. This means that you need to be brutally honest about how… More »
Reader Question: What is a Charge Card?
I recently received this question from a reader:
I have been hearing a lot about the comeback of the charge card. What is a charge card? Is it difference from a credit card?
There is no denying the convenience of plastic money. However, even though a debit card is preferred by many, the debit card lacks a number of advantages and protections available withe a credit card. Many people, though, are justly concerned about the potential for problems with using a credit… More »
Learn from Celebrities: Live in Your Means
We often look at celebrities and other high earners and think that they must have so much money that they could never exceed their incomes. However, this is not the case. Free Money Finance has an interesting list of celebrities that made tons of money and then blew it because they failed to abide by the #1 rule of personal finance: Spend Less Than You Earn.
Here are some of the celebrities listed by Free Money Finance:
Michael Jackson
Mike Tyson
Nicolas Cage
Kim Basinger
Gary… More »
Credit Card Issuers are Watching You
Whenever you use plastic, you are creating a data trail for others to follow. (This can also include debit cards, but for the purpose of this post, we’ll mainly address credit cards.) Whenever you use your credit card, what you purchase goes on record. And it may start affecting your credit score. At the very least, some credit card issuers might use the information to decide whether to or not to cut your credit line. Here is something from CreditCards.com… More »
IRA Conversion Strategy: Nondeductible IRA
One of the biggest news items in the world of personal finance is the fact that 2010 marks the year of the conversion to the Roth IRA. From the traditional IRA or a 401k, it is going to be relatively easy for most people to convert. This will allow higher wage earners, who have so far been excluded from the generous benefits of the Roth IRA, to get in on the action of tax-free growth. And one of the strategies… More »
Want Real Wealth? Stop Acting Rich!
We’ve turned into a rather image conscious and materialistic society. How we appear to others is important, and many of us use credit and get into debt to look rich. Indeed, acting rich — as though we’ve got money to burn — when we really don’t is why so many of us are far from being rich. This type of mentality can put our current financial situation at risk, as well as damage our chances for a prosperous retirement.
But how… More »
Book Review: Secrets of a Stingy Scoundrel
Not too long ago, I won the book Secrets of a Stingy Scoundrel by Phil Villarreal from a contest over at the site Fiscal Fizzle. It is easily one of the funniest money books I have read ever. Villarreal takes you on a journey through money saving tips — many of which are of dubious ethical (if not legal) origin. But the result is hilarious.
Villareal suggests that you can stock up free T-shirts, bags and water bottles by filling out… More »
Happy Thanksgiving!
Even though it is good to be grateful all year, I think that it is a good thing that we have a day devoted to giving thanks and reflecting on our blessings. Probably most of us don’t really spend a lot of time thinking about what we’re thankful for, but most people seem to take at least a few minutes to express their thanks.
There are many things I am thankful for. Here are a few things that I feel glad… More »