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Archives for July 2010

The Basics of the Mutual Fund

If you have a company 401K, then you probably invest into a mutual fund versus investing in individual stocks. But do you really know what it is? Let’s cover some mutual fund basics. A mutual fund is an investment company that pools the money from several different people (investors like you) and then buys into […]

Mortgage Short Sale: Tips for Buying and Selling

Today, with the real estate industry trying to recover from the shambles it was in a year or so ago, it’s no surprise that the mortgage short sale is more the norm than the anomaly. For those who are in the dark, this process is a face-saving measure for homeowners who owe more in terms […]

What is Inflation and Can You Avoid It?

I had dream once that I went to the grocery store and everything was priced ten times what it normally was. Milk cost $30! So I went to another store. Same results. Prices were marked up ten times what they normally were. A bottle of coke was $10! In a panic, I ran to the […]

We Never See the Money, So We Don’t Miss It

That’s exactly what William and Cynthia Foust of Mount, North Carolina had to say about their automated savings. According to a recent Money magazine profile, they’ve been able to save over $800,000 for their retirement. Granted they saved at a rate of 35% of their income, which is no small feat. But a bigger feat […]

Can You Count on Social Security?

I can’t believe I’m trying to tackle the subject of social security right now. It’s super complex in it’s history, very controversial by nature, and the future of it’s solvency and makeup are unknown. But, regardless of all of that, you and I both pay into the Social Security system. So it’s worth it to […]

Done with Goldline? There’s More Than One Way to Buy Into Gold

I’m sure you saw today that Goldline is being investigated for fraud. If you’ve turned on the TV or tuned into conservative talk radio over the past few years, you’ve no doubt seen or heard the pitch from Goldline: add Gold or other precious metals to your portfolio to provide a hedge against future inflation […]

Is it Possible to Make Money by Doing Nothing?

I had someone ask me the other day if I knew of “ways to make money for free”. Huh? What does that even mean? Let’s assume it means this: is there a way to make money without expending energy (i.e. doing work), spending some time on it, or giving up something of value (e.g. stuff, […]

How to Complain and Get Your Money’s Worth

Getting bad service and feeling like you didn’t get your money’s worth stinks. On top of that, you have to go complain about the situation to someone who’s heard a thousand complaints before and go through this whole process to make things right again. That barrier is enough to keep most people from ever complaining […]

Internet Savings: What it Is and Why it Will Dominate the Future of Personal Savings

At the risk of being Captain Obvious here, I thought I’d spout my two cents on the future of online banking. Particularly, saving money in an internet-based savings account. What is Internet Savings? Internet savings is simply a bank savings account that’s based at an internet-only bank. Some people call it online savings, or high-interest […]

Do You Know Your Rights Under the Fair Debt Collection Practices Act?

A recent CNN Money article claims that complaints to the FTC regarding FDCPA violations were up 50% in 2009, and are looking to jump another 13% this year. It seems a lot of people aren’t paying their bills, and collections agencies are struggling to collect the debts in a legal way. They are resorting to […]

Should You Invest with Exchange Traded Funds?

I want to be a smarter investor. In my continued effort to be a more intelligent investor and to know more about investing outside of the 401K, I’m tackling the subject of exchange traded funds (more commonly referred to by their acronym, ETFs). Most novice investors have heard of stocks and mutual funds (a combination […]

Do You Know Your Daily Salary? Use it to Better Understand Your Money

I got dinged for an overdraft fee in my checking account 2 months ago. I was being lazy and made a transfer when I shouldn’t have. My account was charged $37. My first reaction was: “Eh, who cares? I make $37,000 a year; $37 is nothing.” But I found myself making this excuse a lot. […]