http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html Our personal finance blog provides insightful commentary and opinion on the latest news and events from around the internet. en-us PERSONAL FINANCE Wed, 22 Jul 2009 09:31:24 GMT Wed, 22 Jul 2009 09:31:24 GMT personal-finance-basics.com http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Over-Saving-for-Retirement? Haruki writes in: I am putting 15 of my salary into my 401(k) which gets a 5 match from my employer. I also contribute the max to my Roth IRA. I followed up with Haruki and found that his salary is $46,000 per year and hes twenty seven years old, just for calculations sake.... Wed, 22 Jul 2009 09:14:00 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#How-Fear-and-Greed-Can-Derail-Your-Stock-Strategy Fear and greed. Those are the emotions that rule the markets, and changes in stock prices simply reflect the swing of the pendulum between the two extremes. Only lately the swings have arrived with more violence than a Transformers movie.... Wed, 22 Jul 2009 09:10:49 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Teaching-Kids-About-Money-the-Hard-Way Its getting harder for parents to raise financially independent young adults. Many banks refuse to open individual checking accounts for 16- and 17-year-olds, requiring parents to jointly own the account, even if the youngsters have a job. Colleges urge parents to link their bank accounts or credit cards to the prepaid cash cards that double as their students ID cards, to ensure a regular flow of funds from the Bank of Mom and Dad.... Wed, 22 Jul 2009 09:09:11 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Manage-Your-Money-Like-Warren-Buffett If you saw a mysterious $4 entry on your income-tax return, would you sweat it? What if you were a billionaire many times over? Would it even catch your eye? Tue, 21 Jul 2009 09:28:19 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Earn-less-money,-have-more-time If extra schooling seems like a lot of effort, get used to it -- the more educated you are, the more hours you're likely to work.... Tue, 21 Jul 2009 09:27:01 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#10-Things-Your-Parents-Didnt-Teach-You-About-Money When you were growing up, you probably became accustomed to hearing some typical thoughts about money from your parents. These parents are the ones who told you that money doesnt grow on trees. If it werent for your parents, you wouldnt know that children are starving in Africa and therefore you should eat your entire dinner. When you didnt complete your chores, you didnt earn your allowance. Sometimes.... Tue, 21 Jul 2009 09:25:54 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Where-to-Live-Cheaply Centuries ago, Native Americans discovered a pleasant spot on the banks of the Merrimack River. They called it "Namoskeag," which translates loosely to "the good fishing place."... Mon, 20 Jul 2009 09:56:54 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Where-to-stash-$10,000 NEW YORK (Money) -- Question: If you had $10,000 to invest for short-term growth, what would you invest it in? My wife and I feel that our everyday savings are sitting stagnant. Our hope is that there is a wise financial adventure to be had by allocating a portion of this account to something new. Any suggestions? --Stuart, Trussville, Alabama... Mon, 20 Jul 2009 09:55:53 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#When-Is-the-Best-Time-to-Buy...? Timing is everything. To get the best deals, you've got to know when to shop. There are some purchases that are difficult to time perfectly, such as stocks, airplane tickets and gas. But many other consumer staples -- from cars to electronics to produce -- go on sale predictably at certain times of the year, saving you a bundle if you plan your purchases accordingly.... Mon, 20 Jul 2009 09:53:29 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Envisioning-Retirement,-With-a-Backup-Plan Promoting tourism on TV a few years ago, Gov. Ed. Rendell of Pennsylvania urged travel on old Route 6, an east-west two-lane just below the New York border that was eclipsed long ago by the interstates. So on a vacation to western New York my family and I took his advice and spent three days getting there instead of one.... Fri, 17 Jul 2009 09:23:52 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Safeguarding-Your-Income When it comes to financial success, your most important tool is your income. Without an income you cant pay the bills, reduce your debt, or even buy the simple things you need to survive. With a properly maintained income, however, nothing is impossible. No matter what your personal financial philosophy, an income is one thing you cant do without.... Fri, 17 Jul 2009 09:21:40 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#The-New-Stars-of-the-Blogosphere Americans trying to understand the nail-biting financial trauma of the past several months are flocking by the millions to a surprisingly lively source of enlightenment: blogs written by economists.... Fri, 17 Jul 2009 09:19:24 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#How-to-Invest-after-the-First-Half-Rally The first half of 2009 was another wild period for the stock market, but most investors would probably agree that things look better now than they did a few months ago. The economy has shown signs of stabilizing, and nobody is talking any more about the collapse and/or nationalization of the U.S. banking system, as some people were back in February and early March. The S&P 500 Index is up by more than 30 from its March 9 low, and other indexes are up by similar amounts.... Thu, 16 Jul 2009 10:18:29 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Home-Ownership-Was-Never-a-Road-to-Riches My wife and I have sold all of our four previous homes for more than we paid for themsometimes a lot more. Weve been pretty lucky. Weve never overpaid much for a house, weve always bought in good school districts and decent neighborhoods, weve lived in neighborhoods where prices soared during the real-estate bubble, and weve been hurt but not decimated by the bursting of that bubble.... Thu, 16 Jul 2009 10:14:18 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#How-to-Overcome-Financial-Chaos In his book "Managing at the Speed of Change", Atlanta-based consultant Daryl Conner writes, "The key difference between equilibrium and chaos is...the degree to which one's expectations are met. Some of the most frightening situations are those in which we not only lack a sense of control over our environment but we are shocked that this lack of control could occur."... Thu, 16 Jul 2009 10:12:47 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#10-Things-Your-Real-Estate-Broker-Won't-Say 1. "Your open house is really just a networking party for me." Hire a real estate broker to sell your home, and one of the first things he'll likely suggest is hosting an open house so that potential buyers can casually check out your property on a weekend afternoon. But while open houses are promoted as a great way of finding a buyer, a National Association of Realtors study found that their success rate is a mere 2 to 4 percent.... Wed, 15 Jul 2009 10:16:53 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#How-Obama-wants-to-transform-your-finances Our financial system allowed Wall Street to take on too much risk. Consumers were overwhelmed by too much complexity. Can the President restore some balance?... Wed, 15 Jul 2009 10:15:40 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Can-You-Time-the-Market? After watching 70 of his retirement savings evaporate in the 2000-02 bear market, Bob Parrish was determined not to leave what was left to the mercy of the investing gods. So he fired his financial adviser and decided to try something most experts say you should never do: time the market. "Most people thought 2000 was the beginning of a secular bear market," says Parrish, using a term that describes a prolonged downturn. "People said you could still make money, but instead of buy and hold, you had to take a different tack." So he vowed to buy only when he thought the market was headed upward and to bet against it at other times.... Wed, 15 Jul 2009 10:13:36 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Still-Working?-How-to-Handle-Office-Cutbacks. So you still have your job, but you're getting a lot less work these days. Maybe that overtime you used to count on has disappeared. Or your boss asked you to take a few weeks of unpaid vacation. Perhaps the number of hours you put in each week has been dwindling.... Tue, 14 Jul 2009 10:03:00 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Protect-Yourself-From-a-Credit-Card-Backlash The most sweeping credit card legislation in years is good news for cardholders but banks will respond by charging you more and giving you less. Here's what to do about it. There's plenty to like about the credit card reforms President Obama signed into law this May.... Tue, 14 Jul 2009 10:01:20 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Here-comes-the-recovery.-Honest. Many economists say weak June jobs and retail sales aren't reason to give up on hopes for a solid bounce back later this year... Tue, 14 Jul 2009 09:57:28 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#In-Your-20s-or-30s?-The-Recession-Rocks! If you're older than 40, you would be forgiven if you took the glass-half-empty view of the economy. After all, your retirement account has been decimated, your home's value has plummeted, your credit has dried up and your job may be teetering on the edge of a cliff. But if you're in your twenties or thirties, the nation's financial meltdown isn't all bad. Because you're young, you have plenty of time to rebound from any personal setback and even use the crisis to your advantage.... Tue, 14 Jul 2009 09:55:35 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#15-Sites-that-Can-Help-Improve-Your-Finances,-Without-Focusing-on-Money There are thousands of web sites that concentrate on various topics. Almost anything you can think of has at least one site or blog devoted to that particular subject. It would be foolish and ignorant of me to read nothing more than personal finance sites and I would be doing myself and readers a great disservice. There are plenty of ways to concentrate on your finances without focusing solely on money.... Fri, 10 Jul 2009 09:37:14 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Unplanned-Expenses-and-Your-Budget While a budget in one form or another is a must-have financial tool, itd quickly become big and ugly if you tried to anticipate and include every expense you might run in to. Youd quickly lose interest and wouldnt stick with your budget, right?... Fri, 10 Jul 2009 09:35:13 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Reaching-Credit-Card-Nirvana For too many, credit cards are considered a necessary evil. We understand. Its far too easy to fall prey to the temptation to buy things you cant afford. So if youve made your deal with the devil and are now feeling consumed by the flames of credit card debt hell, consider this infographic to be a long, tall glass of water. Start at the bottom and work your way up to see how you can get down to a manageable number of credit cards, transfer your balances to a lower-interest card, eliminate finance charges, settle debt, and improve your credit score, and (with a bit of discipline) reach credit card nirvana... Fri, 10 Jul 2009 09:31:50 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Time-for-a-new-job?-This-weeks-most-intriguing-openings he US economy lost 467,000 jobs in June, and Americans with jobs are now working the lowest average number of hours in 45 years of record keeping. In an effort to turn these employment losses around, Monitor staffers each week comb the job listings in search of interesting places to work. The most intriguing jobs we found this week are in Sacramento, Calif.; College Park, Md.; West Point, Miss.; Terminal Island, Calif.; Sausalito, Calif.; Lexington, Ky.; Fort Worth, Texas; Valley City, N.D.; Lake Tahoe, Calif; and Madison, Wisc.... Thu, 09 Jul 2009 09:26:55 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Stuck-in-a-crappy-job---tough NEW YORK (CNNMoney.com) -- Unhappy at work? You're not alone. The recession has left a lot of people out of a job, but many of those still employed aren't very happy at the office. That's because layoff survivors are often stuck with increased workloads, fewer benefits and even less pay. But they're staying put -- at least for now... Thu, 09 Jul 2009 09:25:36 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#The-Question-of-Leftovers,-Ever-Fresh LIKE many things located at the intersection of obligation and potential pleasure music recitals, family outings, the theater leftovers are a source of complicated emotion. Just ask Diana Abu-Jaber, a novelist who once wrote a memoir told through food, The Language of Baklava.,,, Thu, 09 Jul 2009 09:24:28 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Guaranteed-Income-for-Life Retirees who watched in horror as their account balances plunged along with the stock market now face a new challenge: how to generate enough income to pay their bills.... Thu, 09 Jul 2009 09:23:22 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Higher-minimum-wage-coming-soon NEW YORK (CNNMoney.com) -- The federal minimum wage is set to increase later this month as the job market shows signs of further decay... Tue, 07 Jul 2009 09:33:06 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Calculating-Consumer-Happiness-at-Any-Price For a couple of decades now, social psychologists and behavioral economists have been amusing themselves manipulating consumers into doing odd things. Theyve delighted in debunking the notion of homo economicus, that theoretical creature who rationally seeks maximum economic utility.... Tue, 07 Jul 2009 09:32:00 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Secret-Ways-to-Boost-Your-Social-Security Some retirement decisions are irreversible. But many retirees will be happy to learn that choosing when to start collecting Social Security benefits is not one of them.... Tue, 07 Jul 2009 09:29:49 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#A-Day-to-Tackle-the-Financial-To-Do-List Back in high school, my friends and I used to talk fairly often about the need for a mental health day. Its stressful trying to make good grades and get into college, so staying home and spacing out once in a while made a certain amount of sense.... Mon, 06 Jul 2009 10:02:58 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Four-Financial-Rookie-Mistakes When you're starting out, you may not make the smartest choices with your money because you simply don't know better.... Mon, 06 Jul 2009 10:02:08 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Why-taxes-will-need-to-go-up NEW YORK (CNNMoney.com) -- The promise of health reform is to make care more accessible for everybody -- and to reduce the federal deficit by slowing the growth rate in costs.... Mon, 06 Jul 2009 10:00:32 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Psst!-Wanna-own-a-bit-of-a-failed-bank? NEW YORK (CNNMoney.com) -- When New Frontier Bank failed in April, regulators failed to find a buyer, forcing the FDIC to absorb the roughly $2 billion in assets that were once owned by the Colorado-based lender... Fri, 03 Jul 2009 10:47:38 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Best-529-College-Savings-Plans Sure, most 529 college-savings plans took a beating in the bear market, but they are still a great way to save for college. That's because the earnings are tax-free if they are used to pay qualified college expenses, such as tuition, books, school fees, and room and board. And two-thirds of states sweeten the deal by offering a tax deduction or credit for contributions.... Thu, 02 Jul 2009 09:16:31 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#New-Plan-Ties-Reduced-College-Loan-Payments-to-Income For the first time in years, there is good news for college students who borrow to pay for their education.... Thu, 02 Jul 2009 09:15:06 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Pay-Cut-Cities It's not the best time to make a new start of it in New York state. Although the state's unemployment rate is better than much of the country's, a recent study shows that average wages are falling more rapidly in New York cities than metropolitan areas elsewhere in the country.... Thu, 02 Jul 2009 09:11:29 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Cracked-Houses:-What-the-Boom-Built Robert and Kay Lynn lay in bed shortly after closing on their new home in the Blue Oaks subdivision in Rancho Murieta, Calif., abutting an 18-hole golf course. They were listening to the pop, pop, pop of what they thought were acorns falling onto the roof.... Thu, 02 Jul 2009 09:10:06 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Jobs:-A-Warming-Trend-in-June We expect the Labor Dept.'s U.S. employment report for June, scheduled for release July 2, to show a decline of 340,000 in nonfarm payrolls on the monthnearly matching the 345,000 drop in May. The projected June payroll drop would be roughly half of the big 741,000 decline seen in January, when job losses reached their peak.... Wed, 01 Jul 2009 09:20:47 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Don't-get-clobbered-by-inflation Inflation isn't high on the list of most people's fears right now. With the global economy expected to contract nearly 3 this year and the U.S. still just limping toward recovery, the most immediate concern is falling, not rising, prices.... Wed, 01 Jul 2009 09:19:14 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#How-does-your-net-worth-stack-up? Comparing your assets and liabilities on a regular basis is a good exercise. Here are a few tips to help you get started.... Wed, 01 Jul 2009 09:18:05 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#The-Arbiter-of-Ignorance There is nothing so entertaining to me as when a couple of economics PhD's roll up their sleeves and quarrel with one another over something like universal health care! Ladies and gentlemen...Dr. Paul Krugman vs. Dr. Greg Mankiw! -Will Tue, 30 Jun 2009 09:41:23 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#5-steps-to-a-quick-home-sale In a hurry to sell your home? Here's how to make sure you snag the best price in shortest amount of time.... Tue, 30 Jun 2009 09:29:17 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#How-Not-to-Get-Laid-Off Managing your career: Ariane de Bonvoisin and John Kilcullen identify 10 skills you need to survive the next round of layoffs at your job... Tue, 30 Jun 2009 09:27:28 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#How-to-Shop-Banks-to-Get-Better-Yields fter months of grappling with the financial crisis and government-ordered stress tests of their health, banks are emerging from the chaos determined to win new business. On the East Coast, TD Bank treated potential customers to pizzas and Citizens Bank is promising to kick in $1,000 to families saving for college. In Oklahoma, the tiny Bank of the Wichitas started an online division with a target audience and catchy slogan: Redneck Bank, "Where bankin's funner."... Tue, 30 Jun 2009 09:26:24 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Frugal-Shoppers-Are-Here-to-Stay The strong sales growth in cheaper private-label goods is likely to last. Growth in sales of store brand products will continue to outpace gains in national brands even after the recession, particularly at drugstores, mass merchandisers, dollar stores and warehouse clubs. And stores will expand their private-label offerings across the board, from premium store-exclusive products down to the cheapest national brand copies of well-known brands.... Mon, 29 Jun 2009 09:50:20 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#Warren-Buffett's-Portfolio,-Now-Within-Reach Lunch with Warren Buffett is up for sale on eBay again. The Oracle of Omaha will break bread in New York with the winning bidder and seven pals, with proceeds going to the Glide Foundation, a San Francisco charity.... Mon, 29 Jun 2009 09:48:27 GMT http://www.personal-finance-basics.com/PERSONAL-FINANCE-blog.html#6-Millionaire-Traits-That-You-Can-Adopt Millionaires have more in common with each other than just their bank accounts for some millionaires, striking it rich took courage, salesmanship, vision and passion. Find out which traits are most common to the seven-figure bank account set, and what you can do to hone some of these skills in your own life.... Mon, 29 Jun 2009 09:45:19 GMT