http://pfblogs.org/ms/ Delivering all the personal finance blogs you can handle -- and then some. contact@pfblogs.org en-us Copyright 2010 2010-03-09T16:32:05-05:00 http://pfblogs.org/ My friend Flexo at Consumerism Commentary has created the Plutus Awards, to celebrate the best in personal finance. The awards are broken up into two categories. The first goes to personal finance products and services while the second focuses solely on the best the personal finance blogging world has to offer. The nominees were submitted by the “community” and now voting is open until March 16th. I’m honored and happy to share that Bargaineering was included in several categories and is up against very stiff competition. Many thanks to those of you who may have nominated Bargaineering but know that this site is as much a product of your contributions as it is my own. Without your comments, this place would be nothing more than my ramblings and would not be a place I’ve come to treasure. This recognition is as much a tribute to you as it is to me, so thank you. If you have a few moments, please cast your vote for your favorites. Thank you! 2010 Plutus Awards from personal finance blog Bargaineering.com. ... http://www.bargaineering.com/articles/2010-plutus-awards.html http://www.bargaineering.com/articles/2010-plutus-awards.html Bargaineering 2010-03-09T16:32:05-05:00 Last autumn, I shared a list of essential personal-finance e-books. These books covered a variety of topics, and many of them were free. Today I want to draw your attention to two new e-books that you may want to consider. Consumer Action Handbook First up is the 2010 edition of the Consumer Action Handbook. I’ve mentioned this book before, and I’ll mention it in the future. This book is from the Federal Citizen Information Center, that small department of the U.S. government in Pueblo, Colorado, which distributes free and low-cost consumer publications. The 2010 Consumer Action Handbook is a 172-page guide to becoming a savvy consumer, and includes information on buying a car, purchasing a home, preventing identity theft, shopping from home, creating a will, and handling unsatisfactory transactions. And much, much more. This book would be a good buy at $10 or $15, but it’s freely available from the U.S. government. (Technically you’ve already paid for it with your tax dollars, of course.) You can order your copy here. A Spanish-language version is also available. You can also view the handbook in PDF format. You can view the entire handbook at once [11.9mb], or simply browse individual sections. Nearly all of the book’s content is ... http://www.getrichslowly.org/blog/2010/03/09/2010-consumer-action-handbook-and-unautomate-your-finances/ http://www.getrichslowly.org/blog/2010/03/09/2010-consumer-action-handbook-and-unautomate-your-finances/ Get Rich Slowly 2010-03-09T16:00:46-05:00 When I post my financial reports each month, they reflect only a small piece of who I am as a person. My bank account balances are only a small part of my life although they are center stage on Consumerism Commentary. I try to avoid labels for this reason; when I reach a net worth of a million dollars, I will be hesitant to call myself a “millionaire,” a label that would describe only a small part of me.Even when looking at my finances in whole, net worth is a small piece. You cannot forget about your net income, a number which will tell you more about your financial well being than your net worth. That is, if your net income is positive every month and your net worth is negative, you’re in better financial shape than if your net worth is positive and your net income is negative.You can take your net worth, income, and cash flow and still have an incomplete picture of your financial wellbeing. That’s because these figures all neglect to include human capital, your ability to earn income in the future, and focus solely on financial capital, your assets.The New York Times recently shared an ... http://www.consumerismcommentary.com/2010/03/09/your-human-capital/ http://www.consumerismcommentary.com/2010/03/09/your-human-capital/ Consumerism Commentary 2010-03-09T13:45:38-05:00 Home sweet home – I’ve always love that saying. There is something wonderful about coming to place where you can feel safe, peaceful and rejuvenated. With all of the known dangers out in the big world, home can be a wonderful respite. Sadly, we are bombarded on a daily basis with the news of things that can harm us. Unfortunately some of those things can be found in our safe haven…our home. Instead of throwing up our hands in frustration, I believe in the power of getting educated and making small changes with big impact on or health and environment. Here are three small changes that can improve the quality of life in your home sweet home. Cleaning To maintain a healthy eco-friendly kitchen the first place to start is to get replace any products that contain ammonia and bleach. Both of these ingredients are clearly labeled as toxic and do not belong in the same room where you prepare food. While small exposures to these toxins may simply irritate your breathing, skin and eyes, it can be very harmful to young children and anyone with a compromised immune system. There is a reason the labels say “poison”. There are better, safer ... http://www.bargaineering.com/articles/3-easy-steps-to-a-greener-kitchen.html http://www.bargaineering.com/articles/3-easy-steps-to-a-greener-kitchen.html Bargaineering 2010-03-09T12:25:26-05:00 At the beginning of March, the banking arm of Sallie Mae, a publicly-traded corporation whose main business is student loans, began offering high-yield savings accounts. As I’ve mentioned before, “high-yield” is currently a joke; just a few years ago, you could deposit cash in high-yield savings accounts and count on slightly beating inflation.It is likely your money in a savings account will lose purchasing power until rates increase again. Even then, with the proliferation of online savings accounts, the marketplace might look much different than the last time rates here high.I’m not normally a fan of chasing high interest rates; the time and effort generally don’t outweigh minor gains in after-tax income. I suggest finding a bank that offers consistently high interest rates and sticking with them until you have a problem with the bank or could earn at least a hundred dollars more by moving your money.Because I review banking products, I have many active savings accounts. With Sallie Mae, I am adding one more. Like Discover Bank, opening my account at Sallie Mae Bank was very easy.Opening a Sallie Mae Bank Savings AccountConsumerism Commentary is currently giving away five “extreme finance” packages containing Quicken of your choice, TurboTax ... http://www.consumerismcommentary.com/2010/03/09/sallie-mae-bank-savings-account-opening-review/ http://www.consumerismcommentary.com/2010/03/09/sallie-mae-bank-savings-account-opening-review/ Consumerism Commentary 2010-03-09T11:00:42-05:00 I never thought I’d put an exclamation mark on a sentence about credit card statements, much less be sincerely excited about it, but here we are. You have to pick your battles in life, and clearly-displayed information is one of mine. Educating people about credit card danger is another. Today, I feel like I’ve won a battle, or at least helped.In addition to the rest of the recent changes to U.S. credit cards, any statement made after Feb. 22 will be including some information about your interest rate, penalties, minimum payments and the like. By law, this information has to be clear and obvious.On my most recent statement, it looks like the picture below, front and center on the first page. The part that makes me unexpectedly giddy is outlined in red.If I make only the minimum payment, it will take 11 years to bring the balance to zero. This is obvious to people who had the right education, or who made an extra effort to calculate it for themselves, but now it will be obvious to millions more.Will it help everybody? No, not everyone looks at their statements, and some of those who do see it won’t let it ... http://www.consumerismcommentary.com/2010/03/09/the-new-credit-card-statements-are-here/ http://www.consumerismcommentary.com/2010/03/09/the-new-credit-card-statements-are-here/ Consumerism Commentary 2010-03-09T08:02:23-05:00 Last week, as I was research the “catch” on a return of premium life insurance policy, I wondered if it was possible for you to self-insure your life. The idea behind self insuring is that you take a lower level of insurance protection and save the difference into an account. With auto insurance, you could take away comprehensive insurance coverage, rental car coverage, or raise your deductible and put the savings into a high interest savings account. I do this today with my auto insurance. For my Acura Integra, I didn’t carry comprehensive insurance and was able to saving hundreds of dollars a year. When it was totaled, through no fault of my own, I rolled the savings over to do the same thing with my current car, a Toyota Celica. As I’ve gotten older and the premium on excluding comprehensive insurance decreases, I’m tempted to add comprehensive again and pay for it with the fund. I’m able to because of good driving and good fortune, but I think that self-insurance is something everyone should consider. The General Idea The general idea behind self-insuring is that you want to reduce your level of coverage and put the difference in savings. The obvious benefit ... http://www.bargaineering.com/articles/consider-self-insurance-against-calamities.html http://www.bargaineering.com/articles/consider-self-insurance-against-calamities.html Bargaineering 2010-03-09T07:06:24-05:00 This post is from new staff writer Sierra Black. Sierra writes about frugality, sustainable living, and getting her kids to eat kale at Childwild.com. Last week, J.D. wrote about Stuff; today, Sierra shares her thoughts on the costs of clutter. Do you have piles of papers lurking on your desk? Mountains of laundry looming beside your bed? Shelves double-stacked with knick-knacks? I have a bit of a clutter problem myself. The other day, I spent an hour looking for the vacuum cleaner, which eventually turned up buried under a pile of laundry almost as tall as I am. All that clutter isn’t just annoying. It’s expensive. That’s right: Excess Stuff can keep costing you money even after it’s been bought and paid for. How expensive is your Stuff? Professional organizer Jen Hunter of Find Your Floor in Boston says clutter can cost us real money in a lot of ways: Buying replacement Stuff: Somewhere in your closet is that pair of running shoes you bought last year. Probably next to the ones you bought the spring before that. Clutter costs us dollars and time when we have to buy duplicates of stuff we know we own but just can’t find. Damage to your Stuff: ... http://www.getrichslowly.org/blog/2010/03/09/the-high-cost-of-clutter/ http://www.getrichslowly.org/blog/2010/03/09/the-high-cost-of-clutter/ Get Rich Slowly 2010-03-09T07:00:48-05:00 Our homeowners insurance (and now life insurance) agent gave called last week. He wanted to see if we would let him price an auto insurance policy for us as “rates have gotten more competitive.” He seems determined to get us to use him for all our insurance needs. I told him that would be fine; we’re always trying to get a good deal. I doubted he could offer something comparable to what we have now since it’s already such a good deal. He called again Friday and told me his quote, and suggested that we review the copy he’d be sending in the mail. That’s good, because I don’t make big decisions like that over the phone; my husband and I like to research the numbers and ask around for opinions on customer service. I also use sites like NetQuote, Geico, Esurance, and Progressive to make sure I’m getting a fair deal. Examining car insurance coverage The first we did when comparing rates was to pull out our existing car insurance policy so we could compare apples to apples. Here’s what we’re looking for in car insurance coverage: Bodily Injury ($100,000/$300,000): We need to coverage to protect us from medical bills and lawsuits from ... http://www.fivecentnickel.com/2010/03/09/saving-money-on-car-insurance/ http://www.fivecentnickel.com/2010/03/09/saving-money-on-car-insurance/ Five Cent Nickel 2010-03-09T06:00:28-05:00 I did it! After months of struggling and hours upon hours of typing, I’ve finally reached that mythical state of Inbox Zero. My inbox is empty — or nearly so. (I still have a handful of messages about stuff I’m actually working on at this moment, such as publicity for the book.) I do have a stack of 74 guest-post submissions (including many reader stories), but I’m not including those in this tally. I’ll process those gradually, sending replies as quickly as I can. (If you’ve submitted a guest post, please be patient. I have dozens of them to get through, and can’t answer you all at once.) While sorting through the last 200 e-mail messages today, I found lots of great stuff you folks had submitted. Here are some of the best bits sent to me over the past few months: Carmen sent me this article from CNN/Money about living on a cash-only diet. The piece profiles five families that have given up their credit cards and are only using cash. Each family has a different motive and a different story. (Some of this covers ground we explored last month in our discussion about saying “no” to credit cards.) Jill forwarded an ... http://www.getrichslowly.org/blog/2010/03/08/daily-links-inbox-zero-edition/ http://www.getrichslowly.org/blog/2010/03/08/daily-links-inbox-zero-edition/ Get Rich Slowly 2010-03-08T19:28:30-05:00 This is a guest post from Jim at Bargaineering. If you like what you see here, please consider subscribing to his RSS feed. If you haven’t yet received your W-2 form, which reports your wages for the past year, chances are the post office monster ate it. By law, your employer is required to mail a copy of your W-2 to you by January 31st, which means it should get to you at the latest before mid-February. Since it’s early March, we are way past the deadline and since your employer probably didn’t forget, it’s likely disappeared into the abyss of the postal system. So what are you supposed to do? The easiest way to handle this situation is to go to your payroll or human resources department and ask them for another copy. If you’re eager to get your taxes done and/or don’t want to risk it getting lost in the mail (again!), you can ask them to print you out a copy and hold it for you to pick up in person. If you’re due a tax refund (the average tax refund last year was almost $2700), requesting an in-person pickup can help you file and thus get your refund ... http://www.fivecentnickel.com/2010/03/08/how-to-handle-a-missing-w-2-form/ http://www.fivecentnickel.com/2010/03/08/how-to-handle-a-missing-w-2-form/ Five Cent Nickel 2010-03-08T13:00:30-05:00 There’s a security out there that tracks the average (mean) length of time someone is employed and that figure broke thirty weeks in January. The average person looking for work will not find it in seven months… seven months of job hunting. Seven months of going to job fairs. Seven months of searching online at job websites. If you’re submitting resumes and calling companies, there are only so many resumes you can submit, calls you can make, before you start burning out. If you start burning out, you reduce the chances you’ll ace the interview because your brain is being beaten into submission by monotony. That’s why it’s important for you to sprinkle in other activities throughout the day. It’s hard to do this because when you don’t have a job, you feel like you have to get one. To get one you have to submit resumes, call companies, and do all the things involved in “job hunting.” Then you fall into a vicious cycle… no job, want job, must search, keep searching, burn out… you get it. So how do you introduce activities that aren’t directly related to looking for a job but improve your prospects? Volunteering You have skills and volunteer organizations ... http://www.bargaineering.com/articles/how-to-keep-your-skills-fresh-when-unemployed.html http://www.bargaineering.com/articles/how-to-keep-your-skills-fresh-when-unemployed.html Bargaineering 2010-03-08T12:05:49-05:00 Thanks to the team at Intuit, Consumerism Commentary has “extreme finance” packages to give to our readers. This is a complete package that covers personal finance management, tax filing, and even business accounting. Five of these packages are available. Although the company balked at my initial idea of giving away free tax filing for life, I’m happy to say we were able to come up with something just as extraordinary.This has the possibility of being a popular giveaway, so I am offering Consumerism Commentary readers a number of ways to qualify. But first, here is what is included in the “extreme finance” package, worth up to more than $300 each.If you win, you will be able to select your choice of tax software, personal finance management software, and business accounting software.The winner will choose one of the following options for filing taxes:TurboTax Online DeluxeTurboTax Online PremierTurboTax Desktop DeluxeTurboTax Desktop PremierTurboTax Desktop Home & BusinessThe winner will choose one of the following options for managing personal finances:Quicken Essentials for MacQuicken DeluxeQuicken PremierQuicken Home & BusinessThe winner will choose one of the following options for handling business accounting:QuickBooks for MacQuickBooks Simple StartQuickBooks ProI’d like to point out that in addition to the ... http://www.consumerismcommentary.com/2010/03/08/giveaway-5-extreme-finance-packages-turbotax-quicken-and-quickbooks/ http://www.consumerismcommentary.com/2010/03/08/giveaway-5-extreme-finance-packages-turbotax-quicken-and-quickbooks/ Consumerism Commentary 2010-03-08T10:30:48-05:00 How many times have you run into this scenario at work: you start a task that seems ridiculously inefficient or outdated, bring it up to your supervisor only to hear them say “that’s how we’ve always done it.” Sadly, it happens all too often and it’s the product of the “if it ain’t broke, don’t fix it” mentality that permeates almost every aspect of life. When was the last time you took a hard look at how you did things? Your commute to work every day, how you pay your bills, and how you set your thermostat? Probably not much, especially with all the other, more important, things you have to worry about right? I totally get it because everyone does the same thing. There are a lot of things in our lives that we probably do the exact same way because “that’s the way we’ve always done it.” It’s familiar. It’s comfortable. It has worked… but it could be better. And, just like at work, we’ve done it that way because while it may not be the best way, it worked and you have a million other things competing for your time and energy. However, today I want to work ... http://www.bargaineering.com/articles/find-and-plug-your-money-leaks.html http://www.bargaineering.com/articles/find-and-plug-your-money-leaks.html Bargaineering 2010-03-08T07:04:40-05:00 Last year was the first year I abandoned my own tax return preparation, deferring to a professional to do the dirty work. I’m glad I did; he suggested I restructure my business retroactively, resulting in a savings of about $15,000. I still haven’t seen most of this; the IRS is still processing my amended 2008 return.As you could probably guess, my taxes are more complicated than most people’s. For many years, I was able to take care of my tax filing using online software. Prior to using TurboTax Online, I completed the forms by hand and sent the paper forms through the mail. At the time, I had one W-2 and one or two 1099-INTs to worry about — no Schedule C, no deductions, nothing remotely interesting.Unfortunately, I made a miscalculations the last year I filed by hand. the IRS caught the error and corrected my return, and I was required to pay more money at a time I was not fully prepared to do so. I decided I would trust a software program to calculate my taxes in the future. I started with TurboTax Online, alternating occasionally with TaxACT.This year, TurboTax Online is featuring several new or enhances features.Tax ... http://www.consumerismcommentary.com/2010/03/08/turbotax-online-review-new-features/ http://www.consumerismcommentary.com/2010/03/08/turbotax-online-review-new-features/ Consumerism Commentary 2010-03-08T07:00:51-05:00 February was National Parent Leadership Month, which highlighted the role parents play in shaping the lives of their children. As a sort of tie-in, the most recent poll in the Get Rich Slowly sidebar asked: “Did your parents prepare you well for financial independence?” Over 1000 GRS readers responded; the results surprised me: 17% of you said, “Yes, they did a great job in preparing me.” 17% said, “They did well — I learned the basics.” 18% said, “It was okay, but they missed some key areas.” 48% said, “What preparation for Financial Independence?” I, too, fall in that last group, but I guess I didn’t expect it to be so large. It’s great that a third of you folks felt well-prepared to tackle your finances, but it’s incredible that half of us feel like we had little or no preparation at all. What did your parents teach you about money? I wanted to know a little more detail, so last week I polled my Twitter followers (both at the site’s @grsblog and my personal @jdroth account). I asked: “What did your parents teach you about money? Anything? Did it work?” A lot of folks responded to say that their parents were poor examples: @MoneyMateKate wrote: My parents didn’t ... http://www.getrichslowly.org/blog/2010/03/08/what-did-your-parents-teach-you-about-money/ http://www.getrichslowly.org/blog/2010/03/08/what-did-your-parents-teach-you-about-money/ Get Rich Slowly 2010-03-08T07:00:06-05:00 This is a guest post from Darwin’s Finance. If you please consider subscribing to his RSS Feed. While it’s difficult to overcome the urge to react to unexpected events in our lives, patience and consideration of the facts almost always yields better results than emotional reactions. We encounter this every day, from holding off on hitting that send button on a nasty email you haven’t yet fully digested, to not punching the guy in the face who just said something stupid to your girlfriend. In retrospect, such instinctive responses that were delivered without considering the full context, the facts and the likely outcomes most often lead to regret and often, financial pain, down the road. “Storm of the Century” While the media loves to talk about the “Storm of the Century” every few years to keep eyeballs glued to the set, we actually have had the snowfall of the century this year in many parts of the Northeast. Well… We have some friends who tend to make rapid, emotional decisions that often have heavy financial implications. Last week, they proclaimed, “We’re moving to California. This snow is ridiculous and we’re not dealing with another winter like this.” In truth, they probably won’t see another winter like ... http://www.fivecentnickel.com/2010/03/08/dont-let-short-term-events-disrupt-long-term-planning/ http://www.fivecentnickel.com/2010/03/08/dont-let-short-term-events-disrupt-long-term-planning/ Five Cent Nickel 2010-03-08T06:00:19-05:00 Today’s guest on the Consumerism Commentary Podcast is J.D. Roth, founder of the website Get Rich Slowly.J.D. has made the transition from blogger to published author. In this episode, Flexo, Tom Dziubek, and J.D. discuss the financial advice in his new book, Your Money: The Missing Manual. We also discuss the process of publishing J.D.’s first book.If you enjoy this podcast, please vote for us in the First Annual Plutus Awards for “Best Personal Finance Podcast.” Thanks!Consumerism Commentary Podcast #46 Production Number: S02E20 Segment Number: 64 Adobe Flash required Download – RSS – iTunesTable of contents[00:00] Introduction from Tom Dziubek [00:33] Interview with J.D. Roth – [00:53] J.D.’s background – [02:33] Your Money: The Missing Manual – [04:11] The correlation between wealth and happiness – [06:32] The tyranny of stuff – [10:18] Playing mind games with yourself – [13:36] Asking for help – [14:18] The perfect is the enemy of the good – [16:45] Focusing on small or big spending choices – [18:59] Becoming a published author – [20:01] Getting an agent – [23:20] Marketing the book – [25:07] A second book from J.D? [26:48] EndWe always welcome feedback from listeners. If you have any comments for this episode ... http://www.consumerismcommentary.com/2010/03/07/podcast-46-your-money-the-missing-manual-j-d-roth/ http://www.consumerismcommentary.com/2010/03/07/podcast-46-your-money-the-missing-manual-j-d-roth/ Consumerism Commentary 2010-03-07T14:00:28-05:00 This guest post from Andrea is part of the new “reader stories” feature here at Get Rich Slowly. Some reader stories contain general “how I did X” advice, and others will be examples of how a GRS reader achieved financial success — or failure. I am a graduate student, working towards a PhD, and I hope to graduate in 2012. Prior to starting my PhD program I acquired a significant amount of student loan debt while working on a Master’s degree. I also had a small amount of debt left over from my undergraduate degree. In total I had accumulated around $70,000 in student loans. Some people might say that isn’t too bad considering that I already had completed my Master’s degree, and would not be acquiring any new loans while pursuing my PhD. But I had lived paycheck to paycheck for the two years I worked between college and graduate school, and I didn’t want to live that way anymore. I didn’t want that much debt hanging over me, potentially impacting my future career decisions, so I decided to start paying back the loans while still in school. A rude awakening While I wouldn’t say that I regret taking out so much in ... http://www.getrichslowly.org/blog/2010/03/07/reader-story-how-i-paid-off-18000-in-student-loans-while-still-in-graduate-school/ http://www.getrichslowly.org/blog/2010/03/07/reader-story-how-i-paid-off-18000-in-student-loans-while-still-in-graduate-school/ Get Rich Slowly 2010-03-07T07:00:37-05:00 Or in this case, a butcher knife. I swear to Xenu, lord and dictator of the Galactic Confederacy, that if I ever encounter another packaging that requires stabbing motion to open, I’m going to send Tom Cruise and his Scientology pals after the person responsible. In all seriousness, from today forward, I’m genuinely going to make a conscious effort to avoid purchasing poorly-designed packaging that’s hard to open. And don’t even get me started about the cost of printer ink. This post "Crap: Hard to Open Packaging That Requires a Chainsaw" is from StopBuyingCrap.com. ... http://www.stopbuyingcrap.com/stop-buying-crap/hard-to-open-packagin/ http://www.stopbuyingcrap.com/stop-buying-crap/hard-to-open-packagin/ Stop Buying Crap 2010-03-06T11:36:20-05:00 I wrote last November about a rollout in my city to upgrade everybody’s power meters to the “smart” kind which should allow the power companies to operate and communicate remotely with our electricity. They should also enable us consumers to have more data about which devices in the house waste the most energy.It appears that in the first month after some people got upgraded, their electric bills went up much higher than normal, in some cases twice as much as the previous month. I heard reports on the radio of electric bills up to $500 or $1,000.Oncor, the company who is foisting the new meters on us, has offered a few different explanations and initially denied that there was anything faulty with the meters:people are using more electricity due to record cold temperaturesthe old meters were actually running too slowly, and the new meters are more accurate75% of the people complaining about higher bills don’t even have the new meters yetOncor has tested thousands of meters and hasn’t found a fault in any of themsometimes when the installer reads the old meter, he/she makes a mistakeYesterday the Texas Public Utility Commission agreed to hire a third-party tester to see if ... http://www.consumerismcommentary.com/2010/03/05/dallass-smart-power-meter-problem/ http://www.consumerismcommentary.com/2010/03/05/dallass-smart-power-meter-problem/ Consumerism Commentary 2010-03-05T12:43:17-05:00 In the past week, I’ve written up the credit card acceptance guidelines for both Visa and MasterCard. But what if a merchant doesn’t follow the guidelines? What recourse do you have? In short, you can report them to Visa or MasterCard and (hopefully) corrective action will be taken. Here’s how to get in touch with the two companies… Reporting Visa credit card violations Perhaps the easiest way to get in touch with Visa is to call them at 1-800-VISA-911. Alternatively, you can call the number on the back of your card. If you would prefer to send a written complaint, you can address it to: Visa U.S.A. Inc. P.O. Box 194607 San Francisco, CA 94119-4607 You might also be able to register your complaint online through your card issuer’s website, but Visa doesn’t have a centralized way of doing this. Reporting MasterCard credit card violations Once again, you can call in your complaint to 1-800-MASTERCARD, or you can call the number on the back of your card. Alternatively, you can register your complaint online via the MasterCard Merchant Violations page. You’ll be asked for your name and address, details about the merchant, and the nature of the problem. There is also space for freeform comments. Have you ever reported a merchant? Have you ... http://www.fivecentnickel.com/2010/03/05/how-to-report-visa-and-mastercard-violations/ http://www.fivecentnickel.com/2010/03/05/how-to-report-visa-and-mastercard-violations/ Five Cent Nickel 2010-03-05T11:00:33-05:00 I can’t completely fault companies like Amway, Mary Kay, and Lia Sophia. They know that friendship results in two important qualities: trust and guilt. These two qualities are important to companies because they make the process of selling products much easier. I find it relatively easy to politely decline — and hang up on if necessary — a salesperson who calls me uninvited in order to get me to upgrade my phone service or subscribe to a theater. Although I usually don’t have a problem, it can be more difficult to say no to a friend.In most cases, people join these multi-level marketing (MLM) programs not because they believe in the product but because there is a system designed to allow them to earn significant amounts of money if they play the game right. If you are an influencer in your social circle, you will be able to convince your friends to sell products and host their own parties increasing your income. “Party” is just a code word for “sales pitch.” You can’t achieve success as a multi-level marketer without burning some relationships.MLM isn’t the only issue. Everyone knows someone who is a social seller. From my observations, the products ... http://www.consumerismcommentary.com/2010/03/05/when-your-friends-become-social-sellers-and-multi-level-marketers/ http://www.consumerismcommentary.com/2010/03/05/when-your-friends-become-social-sellers-and-multi-level-marketers/ Consumerism Commentary 2010-03-05T08:00:50-05:00 The Huffington Post shared the thoughts of Sen. Jon Kyl (R-AZ) on unemployment this week: Unemployment insurance “doesn’t create new jobs. In fact, if anything, continuing to pay people unemployment compensation is a disincentive for them to seek new work,” The title of the article is a little misleading. In quotes, Kyl said that benefits dissuade people from job hunting, not that they “make people not want to get a job,” as the title states. While I didn’t hear or read about the debate, it seems like a stretch to take the quotes and twist them to match the title. However, unemployment benefits do act as a disincentive. You get unemployment benefits when you are unemployed, you don’t get them when you are employed. If you remain unemployed, you get paid for not working… so in that respect Kyl is right. Given that base unemployment benefits lasts 26 weeks (not including the extensions from the stimulus package), I’m inclined to think that it’s not unfair for Bunning, or others, to ask how we are going to pay for these things especially if we’re extending benefits again. While the initial 26 weeks are funded by my employer and myself, through past payments, the extensions, in ... http://www.bargaineering.com/articles/does-unemployment-insurance-pays-laziness.html http://www.bargaineering.com/articles/does-unemployment-insurance-pays-laziness.html Bargaineering 2010-03-05T07:24:55-05:00 This post is from GRS staff writer April Dykman. I’ve been thinking a lot lately about a quote from J.D.’s review of The Total Money Makeover: Printed on the bottom of every page…is the book’s motto: “If you will live like no one else, later you can live like no one else.” My husband and I recently made an unusual decision, and I’m in need of a motto that I can repeat to myself every time I question our choice, which I probably will at some point. A loan story I’ve mentioned in previous GRS posts that my husband and I are building a house. As we started on the final construction documents, we began working with a lender to sort through the construction loan. It’s not a fun process, let me tell you. Half of what the lender said went right over my head, despite my short-lived foray into the real-estate industry. The first issue that arose was that we’d have to have a two-time closing. This means there’s one closing at the start of construction and a second closing after the home has been built to refinance into a permanent mortgage. Apparently one-time closings, which are loans with a single close for both the construction term and the mortgage, are a thing of the past. The problem ... http://www.getrichslowly.org/blog/2010/03/05/living-like-no-one-else/ http://www.getrichslowly.org/blog/2010/03/05/living-like-no-one-else/ Get Rich Slowly 2010-03-05T07:00:18-05:00 Last week I wrote about Visa’s credit card acceptance guidelines. This week, I thought it would be interesting to take a look at MasterCard’s merchant guidelines. MasterCard credit card rules What follows is a synopsis of MasterCard’s rules regarding card acceptance straight from their merchant guide. The rules regarding card acceptance aren’t quite as explicit as Visa’s in some areas, though there are many parallels. Also note that there are many more rules that what I’ve listed below — I tried to filter out the ones with the least everyday relevance. Honor all cards. Merchants are required to honor all valid MasterCards without discrimination when properly presented for payment. Merchants may not discriminate amongst customers who seek to make purchases with a MasterCard, nor can they discriminate against or discourage the use of a MasterCard in favor of another brand. Additional cardholder identification. A merchant must not refuse to complete a transaction solely because a cardholder who has presented a card to pay for a purchase refuses to provide additional identification. Charges to cardholders. A merchant may not directly or indirectly require a cardholder to pay a surcharge or any part of the merchant processing fees charged in connection with a transaction. However, fees are ... http://www.fivecentnickel.com/2010/03/05/mastercard-credit-card-acceptance-guidelines/ http://www.fivecentnickel.com/2010/03/05/mastercard-credit-card-acceptance-guidelines/ Five Cent Nickel 2010-03-05T06:00:48-05:00 This is interesting… Sallie Mae, traditionally a provider of federal and private student loans, has just entered the retail banking world. Their initial products include a high interest savings account and CDs with fairly competitive rates. The current rate on their savings account is 1.35% APY, and their CD rates range from 1.50% APY for 12 months up to 3.00% APY for 60 months. The savings account has no minimum balance and no monthly fees. Unfortunately, I couldn’t find any mention of a minimum deposit for CDs. Not surprisingly, all accounts are FDIC insured up to current limits. In addition to a fairly competitive rate, Sallie Mae Bank will match up to 10% of your Upromise earnings (subject to some restrictions). I don’t have an account with Sallie Mae Bank, so I can’t vouch for their user interface or customer service. If any of you have experience with them, please leave a comment and let us know how you like it. ---Related Articles at fivecentnickel.com:» American Express Introduces Online Banking Products» Best Online High Interest Savings Accounts (Updated!)» More Online Bank Interest Rate Decreases» Online Bank Savings Account Interest Rates (Updated!)» ING Direct Introduces User-Friendly Login Names» Alternatives to High Yield Online ... http://www.fivecentnickel.com/2010/03/04/sallie-mae-introduces-high-interest-savings-account/ http://www.fivecentnickel.com/2010/03/04/sallie-mae-introduces-high-interest-savings-account/ Five Cent Nickel 2010-03-04T13:00:17-05:00 This article is presented by Kelly Whalen, Consumerism Commentary staff writer, who hosts a weekly internet show called the ¢entsible show.Unexpected income is a problem many people would love to have, but it happens more frequently than people realize. Whether it’s a $20 birthday check from your eighty-something grandmother or a raise, there are few months we don’t have something unexpected.When you get a windfall you could dream up many ways to spend or save it, so it is important to have a plan.One-time incomeYou may find yourself with one-time income when your receive rebate checks, tax refunds, or birthday money, or if you sell something you own. Unless you are like Ebenezer Scrooge you’ll probably have the urge to spend some of this extra cash. The best way to deal with extra cash is to prioritize.If your windfall is under $50, it’s a good idea to use this as fun money. $50 doesn’t go very far when you try to split it up, and unless you are $50 away from a savings goal or debt repayment, it will be pretty painful to put it away.If your windfall is over $50 but under $100, put it towards debt. If you ... http://www.consumerismcommentary.com/2010/03/04/unexpected-income-windfall/ http://www.consumerismcommentary.com/2010/03/04/unexpected-income-windfall/ Consumerism Commentary 2010-03-04T08:00:19-05:00 Chris at The Consumerist referenced a story this week about how there are 16 states, including here in Maryland, considering a ban on using credit scores to make hiring decisions. Iv’e never personally experienced this or heard of a friend get denied a job because of their credit score, but this happens enough to warrant 16 states barring the practice. What’s the logic behind credit checks? I’ve read everything from “a higher credit score means someone is more trustworthy” to “someone who has a higher credit score is more reliable,” but I doubt any company can substantiate that with hard data. If someone wants to hire you because they believe you are the best candidate for the job, they will. If they are iffy about it, then they might use the result of a credit check to help them make a decision even though job performance and credit score are not related. I also agree with Reznik’s quote that “People lose their jobs, that naturally precipitates them getting behind on bills, their credit scores go down, they are trying to find a job to pay off the bills, and employers won’t hire them because of their credit score.” It’s a vicious catch-22. As ... http://www.bargaineering.com/articles/ban-credit-checks-for-job-applications.html http://www.bargaineering.com/articles/ban-credit-checks-for-job-applications.html Bargaineering 2010-03-04T07:52:25-05:00 Life insurance sucks. If you outlive your policy, you spent a lot of money for not much of anything. If you don’t outlive your policy, well shucks you didn’t waste your money on premiums… but you’re dead. So when my insurance company sent me a package detailing one of their newest offers, a “return of premium life insurance” policy, I was intrigued. The basics of the policy are simple – you pay premiums for term life insurance and if you outlive your policy, your premiums are returned to you. If you outlive your policy, you haven’t wasted your premiums. If you don’t, then the premiums were “worth” it. What’s the catch? So where’s the catch? Nothing in life is free, right? In return for the return of premium piece, you pay higher premiums than you would on a life insurance policy without a return of premium option. The insurance company can take the difference and invest it, thus helping it generate a profit regardless of whether you outlive the policy. There isn’t a catch but does that mean it’s worth it? Are Return of Premium Life Insurance Plans Worth It? I believe it comes down to your approach towards insurance. When you buy non-required insurance, you’re buying ... http://www.bargaineering.com/articles/return-of-premium-life-insurance.html http://www.bargaineering.com/articles/return-of-premium-life-insurance.html Bargaineering 2010-03-04T07:35:55-05:00 This article is by staff writer Adam Baker, whose own blog featured the hit post 42 Ways to Radically Simplify Your Financial Life. When I was 14 years old, I opened my very first checking account at Bank One. That’s where my Dad banked and so that’s where he drove me when I asked to open an account. Over the years, I continued to give them my business. By 16, I had opened another checking account (don’t ask me why) and a new savings account, too. At 20, I started my journey into credit cards with… yep, a brand new Chase credit card. (Note: Chase ate Bank One in 2004.) At 21, I opened my first Chase business checking account and, at 22, I funded $1000 into my new Chase investment account. When my wife and I married the following year, we canceled her National City account to combine our finances with… Chase. You get the point. While this may not seem too out of the ordinary, there’s only one problem: Neither of us really likes Chase Bank. In fact, I’ve never really liked them that much. I’ve wanted to switch to a local credit union for years, but just haven’t done it. I’ve ... http://www.getrichslowly.org/blog/2010/03/04/what-does-it-take-to-make-you-switch-banks/ http://www.getrichslowly.org/blog/2010/03/04/what-does-it-take-to-make-you-switch-banks/ Get Rich Slowly 2010-03-04T07:00:15-05:00 Like millions of other Americans, my wife and I are upside down on our home mortgage – i.e., the amount we owe exceeds our home’s value. If I had it to do over again, rather than buy with $0 down, I would rent, save money, and buy only after it made more financial sense than renting. If only I could go back in time to alter our decision to buy! Oh well, our plan moving forward is to pay off our mortgage early and stay put until prices trend upward. As an aside, if you want more information on buying a home vs. renting you can check out Laura’s view of the buy vs. rent dilemma, as well as my opinion on the same thing. Mistake #1 – Zero down mortgage So many new homeowners made the mistake of entering into a zero down mortgage. If you cannot afford a down payment of at least 20%, lenders typically require either a 2nd mortgage or carrying private mortgage insurance (PMI). One positive result of the housing crisis has been a huge scaling back of the zero and low down payment mortgages, which has been a large contributing factor of plummeting home sales. Nowadays people who ... http://www.fivecentnickel.com/2010/03/04/two-common-mortgage-and-housing-mistakes-to-avoid/ http://www.fivecentnickel.com/2010/03/04/two-common-mortgage-and-housing-mistakes-to-avoid/ Five Cent Nickel 2010-03-04T06:00:33-05:00 My pal Chris Guillebeau has a great interview up over at his blog, The Art of Non-Conformity. He recently profiled artist Tsilli Pines (who also happens to be a loyal GRS reader and a customer of my family’s box factory). The interview discusses Tsilli’s development as an artist, her initial steps toward starting her own business, and her decision to make the leap to full-time entrepreneur. Here’s an excerpt from the conversation: Chris What is your advice to someone who wants to “escape” from traditional work and start something like this? Tsilli Find what you love to do, and then do it, even if it doesn’t bring in money at first. Experiment on the side, experiment on the cheap. It’s the single most important concept to grasp if you are looking to build something from scratch. Chris What worries you? Tsilli Everything! I’m a chronic worrier. But there’s a bad way to worry, and a good way. The bad way of worrying paralyzes [...] ... http://www.getrichslowly.org/blog/2010/03/03/art-and-entrepreneurship/ http://www.getrichslowly.org/blog/2010/03/03/art-and-entrepreneurship/ Get Rich Slowly 2010-03-03T16:00:44-05:00 Don’t forget! Consumerism Commentary is in the running to win a few Plutus Awards. The Plutus Awards are designed to celebrate the best personal finance resources such as books, savings accounts, and blogs. Vote here now before the deadline on March 16. The finalists were selected from among those that received the highest number of [...]The Consumerism Commentary Podcast is in full swing with new episodes every Sunday. Listen and subscribe now!Best of Consumerism Commentary, February 2010 ... http://www.consumerismcommentary.com/2010/03/03/best-of-consumerism-commentary-february-2010/ http://www.consumerismcommentary.com/2010/03/03/best-of-consumerism-commentary-february-2010/ Consumerism Commentary 2010-03-03T13:30:56-05:00 Last week, as my lovely wife was waiting in line at the supermarket checkout aisle, I wandered around. I don’t really enjoy waiting around for much of anything. It’s a mixture of impatience, attention deficit, and boredom, but in the time between putting the groceries on the belt and taking our bags to leave, I usually wander around the front of the store. I look at the piles of firewood, the coffee stand, some of the headlines on the newspapers, and I ended up looking at the cornucopia of scratch off lottery tickets in the automated dispenser. That’s when I noticed that it sold twenty dollar scratch off tickets. (that’s one of them to the right) Twenty bucks… one card. The card probably had a bunch of games on it but the idea that there would be not one but three different $20 scratch off tickets was absolutely mind boggling. I was amazed. (as you can see, the letter “r” on my phone doesn’t work that great anymore) What makes it even more remarkable is that it’s generally accepted that scratch off games offer the worst odds. The appeal is in the immediacy of the payoff. You scratch, you win, you walk ... http://www.bargaineering.com/articles/20-lottery-scratch-off-tickets.html http://www.bargaineering.com/articles/20-lottery-scratch-off-tickets.html Bargaineering 2010-03-03T12:08:31-05:00 I’ve been closely tracking changes in high-yield savings account interest rates for a few years. Having a high-yield savings account is an essential part of being in control of your finances, and it’s the perfect vehicle for the bulk of your emergency fund. There is a possibility of having too much of a good thing. Traditional [...]The Consumerism Commentary Podcast is in full swing with new episodes every Sunday. Listen and subscribe now!When It Makes Sense to Chase Savings Interest Rates ... http://www.consumerismcommentary.com/2010/03/03/when-it-makes-sense-to-chase-savings-interest-rates/ http://www.consumerismcommentary.com/2010/03/03/when-it-makes-sense-to-chase-savings-interest-rates/ Consumerism Commentary 2010-03-03T08:00:17-05:00 A mortgage accelerator program is a fancy name for a program that promises to help you pay off your loan faster than you would making regular monthly payments. With the recession and with falling housing prices, advertisements for these types of programs are popping up everywhere. The real question, though, is whether they work and I have to go back to a tried and true adage – “If it sounds too good to be true, it probably is.” These programs promise to help you pay off your loans in half the time. Half! They remind me of those ads where someone with $150,000 in IRS tax debt gets it renegotiated down to $50 (you know those ads right?) or how $10,000 in credit card debt was settled for $150 and a high five. They smell like scams but if we just left it at that, we wouldn’t really know the real answer right? (this is how debt settlement works, it’s not necessarily a scam but it’s very very dangerous) So let’s find out what mortgage accelerator programs are and whether they’re scams. Mortgage Accelerator Programs After a little bit of research on the web, it’s pretty clear that most mortgage accelerator programs are not ... http://www.bargaineering.com/articles/mortgage-accelerator-programs.html http://www.bargaineering.com/articles/mortgage-accelerator-programs.html Bargaineering 2010-03-03T07:52:36-05:00 This is a guest post from Robert Brokamp of The Motley Fool. Robert is a Certified Financial Planner and the advisor for The Motley Fool’s Rule Your Retirement service. He contributes one new article to Get Rich Slowly every two weeks. I find predictions, and the people who make them, fascinating for a few reasons. First, I — like everyone — would love to get a hint of what’s coming up. But successful forecasting is pretty difficult. Which brings us to the second reason why I like predictions: It’s entertaining to see how different the world turned out from how people expected. Here are several memorable predictions of yore: “Radio has no future. Heavier-than-air flying machines are impossible. X-rays will prove to be a hoax.” William Thomson, Lord Kelvin, British scientist, 1899 “Television won’t last because people will soon get tired of staring at a plywood box every night.” Darryl Zanuck of 20th Century Fox, 1946 “They couldn’t hit [...] ... http://www.getrichslowly.org/blog/2010/03/03/the-problem-with-prognostication-why-you-shouldnt-invest-based-on-expert-predictions/ http://www.getrichslowly.org/blog/2010/03/03/the-problem-with-prognostication-why-you-shouldnt-invest-based-on-expert-predictions/ Get Rich Slowly 2010-03-03T07:00:18-05:00 Like it or not, your credit score is a very important number. So what can you do if you have a low score and want to improve it? Here are five simple steps that you can take to do just that: Check your credit report. You’re entitled to a free credit report from each of the major credit bureaus once per year, so there’s no excuse not to do this. But don’t stop there… Be sure to fix any errors that you find. Start building positive information. If you’ve had credit problems in the past, put that behind you and get back on track with your payments. If you have a secured credit card, be sure that they report your information to the major credit bureaus, as not all of them do. Try to get negative information removed. Beyond getting inaccuracies removed from your credit report, you might want to try to get legitimate negative information removed. If you’ve been late in the past, but are currently paying on time, call your creditor and ask to have the information removed. They might balk, but it can’t hurt to try. If you have past due accounts, you might be able to negotiate removal of ... http://www.fivecentnickel.com/2010/03/03/how-to-improve-your-credit-score/ http://www.fivecentnickel.com/2010/03/03/how-to-improve-your-credit-score/ Five Cent Nickel 2010-03-03T06:00:45-05:00 Last fall, my wife and I went into our nearest bank branch to set up a new savings account for a trust that we’re managing. While we were there, the “Personal Banker” told us about a promo that they were running that would give us a higher than typical interest rate. I can’t remember the details, but it was something like 2%, when the prevailing savings account interest rates (especially at brick and mortar banks) were much lower. Not only that, but he said he could apply it to our existing personal savings account, as well. When we got up to leave, he said that the promo rate would end in a few months, but that they’re always introducing new ones. Thus, if we’d just call back and ask, he’d go ahead and apply the code for the new promo rate to our accounts. I recently called him back and he gave us the new promo rate. I forget the details, but it was significantly higher than their “standard” interest rate. All we had to do was ask. Oh, and just in case you’re thinking that we must have been dealing with some local bank, and that there’s no hope of getting this treatment ... http://www.fivecentnickel.com/2010/03/02/ask-your-bank-for-a-better-deal/ http://www.fivecentnickel.com/2010/03/02/ask-your-bank-for-a-better-deal/ Five Cent Nickel 2010-03-02T14:03:54-05:00 The market for Hollywood Hills homes of the stars hasn’t been immune to the real estate downturn. Although she purchased the house for $7 million in 2007, the asking price is now $4.59 million. Judging from the photographs on CNN Money, the villa looks like a great place to live. CNN Money often profiles houses for [...]The Consumerism Commentary Podcast is in full swing with new episodes every Sunday. Listen and subscribe now!Scarlett Johansson’s Home For Sale at $2 Million Loss ... http://www.consumerismcommentary.com/2010/03/02/scarlett-johanssons-home-for-sale-at-2-million-loss/ http://www.consumerismcommentary.com/2010/03/02/scarlett-johanssons-home-for-sale-at-2-million-loss/ Consumerism Commentary 2010-03-02T14:00:41-05:00 In Payback Time, Phil Town teaches you the tenets of value investing, the same approach that Warren Buffett takes, with today’s tools. With all the value investing books out there, what separates Town’s Payback Time, and his earlier work Rule #1, from the pack? Two reasons – first, he’s not a long time investor who [...]Payback Time by Phil Town from personal finance blog Bargaineering.com. ... http://www.bargaineering.com/articles/payback-time-by-phil-town.html http://www.bargaineering.com/articles/payback-time-by-phil-town.html Bargaineering 2010-03-02T12:25:30-05:00 It’s time again for my monthly financial reporting. I’ve been posting a balance sheet online almost every month since July 2003 in order to keep myself accountable for my financial decisions. Seven years ago I was not far into my journal to financial solvency, but I was at least spending less than I was earning [...]The Consumerism Commentary Podcast is in full swing with new episodes every Sunday. Listen and subscribe now!Personal Balance Sheet, February 2010 ... http://www.consumerismcommentary.com/2010/03/02/personal-balance-sheet-february-2010/ http://www.consumerismcommentary.com/2010/03/02/personal-balance-sheet-february-2010/ Consumerism Commentary 2010-03-02T11:00:44-05:00 Is money a taboo subject with your friends? I’m not sure about anyone else, but I don’t think it’s taboo to talk about money. I do, however, recognize that it may be awkward and thus considered a bit wrong by someone to talk to others about how they should handle their finances. Thinking back on conversations [...] ... http://www.fivecentnickel.com/2010/03/02/encouraging-family-and-friends-to-improve-their-finances/ http://www.fivecentnickel.com/2010/03/02/encouraging-family-and-friends-to-improve-their-finances/ Five Cent Nickel 2010-03-02T09:05:30-05:00 I really dig movie soundtracks, by which I mean real albums of music written for the movie, not the fake soundtracks that are just collections of pop songs. Ever since I first heard the music from E.T.: The Extra Terrestrial while not watching the movie, I’ve been fascinated by the effect of feeling the movie’s [...]The Consumerism Commentary Podcast is in full swing with new episodes every Sunday. Listen and subscribe now!Saving Money on Soundtracks ... http://www.consumerismcommentary.com/2010/03/02/saving-money-on-soundtracks/ http://www.consumerismcommentary.com/2010/03/02/saving-money-on-soundtracks/ Consumerism Commentary 2010-03-02T07:58:25-05:00 I had a conversation over the weekend with a friend of mine who likes to keep a little bit of cash at home in the event of a zombie apocalypse. As I reminded him that zombies don’t take US dollars, I thought a little to how we like to keep some cash on hand at home too. My friend was talking a thousand dollars or two, we keep maybe a hundred bucks. While he was trying to up his chances of survival, we do it to avoid an unnecessary trip to the ATM if we find our wallet or purse a little light one day. That led me to wonder where the best places to hide you rmoney at home was and fortunately the web did not disappoint. First, there’s is no limit to human ingenuity. Just spend a few minutes looking through the slideshow WalletPop put together on the craziest places people hide their money and you’ll see things like inside a fake i-beam, the cookie jar, their attic, a fake roll of toilet paper, under the litter box, mason jar buried in the garden, and my favorite, an empty can hidden in the pantry. Hopefully all those people can get ... http://www.bargaineering.com/articles/best-places-to-hide-money-at-home.html http://www.bargaineering.com/articles/best-places-to-hide-money-at-home.html Bargaineering 2010-03-02T07:41:20-05:00 It seems like every time I travel, I come home committed to win my war on Stuff. This time was no different. I lived out of a single carry-on bag while vacationing in Belize last week, and even that felt luxurious. Now I’ve returned to a house packed with doodads and gewgaws, knick-knacks and baubles. The more I purge Stuff from my life, the more I travel, and the more I see (and read) about how little others need to get by, the stronger my conviction to reduce what I own, as well. I’m in awe of my friend Leo from Zen Habits, for instance. At his secondary blog, mnmlist, Leo has been chronicling his attempt to reduce the number of thing he owns. At first, this was his 100 Things Challenge (he wanted to own just 100 personal items). Recently, he’s upped the ante. It’s now a 50 Things Challenge. Wow. I’m not ready to go [...] ... http://www.getrichslowly.org/blog/2010/03/02/how-much-stuff-does-one-man-need/ http://www.getrichslowly.org/blog/2010/03/02/how-much-stuff-does-one-man-need/ Get Rich Slowly 2010-03-02T07:00:19-05:00 On Friday, I shared a guest response to a reader question about life insurance. Many GRS readers rightly complained that it didn’t do a good job of answering the question. One reader — Mike from Four Pillars and ABCs of Investing — took it upon himself to write this response. One of the most common issues that people with any kind of dependents face is, “How much life insurance do I need?”. This is a tough question to answer in a simple equation; there are quite a few variables which affect the amount of insurance needed. First off, I’m only going to discuss term insurance. For most people, that’s the only type of insurance to consider. J.D.’s note: I said this over the weekend, and I’ll say it again: Permanent life insurance (such as whole or universal) is not a bad idea for everyone. For some folks, it absolutely makes sense. But for the average [...] ... http://www.getrichslowly.org/blog/2010/03/01/how-much-life-insurance-do-you-really-need/ http://www.getrichslowly.org/blog/2010/03/01/how-much-life-insurance-do-you-really-need/ Get Rich Slowly 2010-03-01T17:05:55-05:00 Over the last year, since the CARD Act was passed, a lot of people have had their credit card limits lowered or their cards canceled. Credit card companies, faced with these new rules, are looking to reduce their risk and so they’ve cut a lot of inactive or low activity cards (or saddled them with [...]Accounts Closed by Grantor Don’t Hurt Credit Score More from personal finance blog Bargaineering.com. ... http://www.bargaineering.com/articles/accounts-closed-by-grantor-dont-hurt-credit-score-more.html http://www.bargaineering.com/articles/accounts-closed-by-grantor-dont-hurt-credit-score-more.html Bargaineering 2010-03-01T12:10:42-05:00 When Consumer Reports tests new cars, their staff shop just like consumers. They stop into dealerships and buy cars without giving any indication they intend to test the cars for a major magazine. Rather than receiving specially tuned or improved vehicles, the magazine takes to its test center the same cars ordinary shoppers would buy. Testing [...]The Consumerism Commentary Podcast is in full swing with new episodes every Sunday. Listen and subscribe now!Consumer Reports’ Best Cars of 2010 ... http://www.consumerismcommentary.com/2010/03/01/consumer-reports-best-cars-of-2010/ http://www.consumerismcommentary.com/2010/03/01/consumer-reports-best-cars-of-2010/ Consumerism Commentary 2010-03-01T11:00:07-05:00