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Archives for April 2009

The Best High Yield Online Savings Accounts (of 2018)

Looking for a place to stash your cash savings? I spend a lot of time talking about the need to have your money in a high-interest or high yield online savings account. I thought it was about time I put together a list of the top high yield online savings accounts. (Don’t forget to check […]

Paying Yourself First Pays Off

You’ve heard it a thousand times, when it comes to your finances and securing your future, you’ve got to pay yourself first. I couldn’t agree more. That’s why I’m big on an action plan to make that happen: automating and separating my savings. The Pay Yourself First Challenge is Complete I’m big on paying myself […]

Closing Credit Accounts will Not Help Your Credit Score

Back in 2002, when I was getting rid of my excess credit card debt, I did a stupid thing. I closed my oldest credit card down. I didn’t know, or didn’t care at the time that this move would actually hurt me in terms of building a better credit score. We all know the importance […]

Vanguard Roth IRA Account Opening Process

I recently opened a Roth IRA for the first time. For more information on the Roth IRA, see that post. Today I wanted to get into a little more detail about that process, specifically the Vanguard Roth IRA opening process. As an FYI, these screens may change over time, but the process should stay the […]

The Worst Financial Products and How to Avoid Them

Today I want to get the discussion going about whether some financial products are inherently bad. In other words, are there financial products that are a poor choice for everyone, at all times, just by their nature? Financial Products Often Characterized as Bad Retail Credit Cards Adjustable Rate Mortgages Whole Life Insurance Variable Annuities Can […]

12 Things Every Teenager Needs To Know About Money (And How To Teach Them)

Credit Cards Will Steal Your Lunch Money You may remember when you got your first credit card. Perhaps, you just moved out on your own for the first time and someone offered you a piece of plastic with a seemingly endless supply of money. Sounded to good to be true didn’t it?! Of course it […]

The End of the 401K Match and Random Thoughts on the 401k vs a Roth IRA

My Company Stopped Matching the 401k Beginning this month, my company is no longer matching my contributions to the company 401k. That’s essentially $2,000 less in compensation I’ll receive this year, if they don’t match for the remainder of the year. They do say that this is a temporary, precautionary move. Still, this is disappointing news. I thought […]

How to be a Millionaire: As Explained by a 4th Grader

Are you smarter than this 4th grader? Jenna Fink, of Frisco, TX knows her stuff. She drew the Elementary school grade category winning poster in the National Foundation for Credit Counseling (NFCC) 2009 Be Money Wi$e National Financial Literacy Poster Contest. “The purpose of the contest is to introduce young people to the concept of […]

The Reasons I’m Opening a Roth IRA for the First Time (and You Should Too!)

Back in 2009 I created an account at Vanguard, opened up my very first Roth IRA, and invested in a low-cost index fund. So did Mrs. PT. It felt great! Just in time too. We needed to contribute before we filed our taxes if we wanted the contribution to count towards 2008 limits. At a time […]