Avoiding Current Phone Scams
Many people trust phone calls, espescially if the person on the other side of the line knows even a small piece of information. Like email, phishing attempts can yield surprising results. Other fraud takes the form of involuntary commitment and contract approval. Most of the time I call my [...]
To save time, the environment, and your sanity these resources help protect your privacy from unwanted services.
Stop Pre-Screened Offers
Link: OptOutPreScreen
Opt out of pre-screened credit card and insurance offers. Companies can no longer peek at your credit score to see if you qualify for their services. The less mail you receive like this the [...]
2010 is here and it’s time to do some financial resolutions. How did you do? Are you financially flabby or financially fit? With a new year you can start fresh and make some goals that will stick for the long haul. This is a list of resolutions many financial gurus talk [...]
Understanding your credit score is divided into five areas. Each area helps lending instituions determine how risky you are. If you are a new creditor, with limited types of credit, and have made late payments, your credit score will be very low. On the other hand if you have a long [...]
These are some great personal finance videos. They cover some basic and advanced strategies for personal finance, investing, and saving.
Mint Video- The Three Principles of Personal Finance
There have been over 10,000 books written on personal finance. This video summarized the main points into three major areas of personal finance. The CEO of [...]
Free personal finance software helps you keep track of your expenses, income, and everything in between. There are a number of free apps you can download for free. Some of these are opensource, freeware, or online accounts.
Free Online Software
Mint - This is the most popular free solution online. Mint automatically pulls in [...]
A huge bank, Citibank, has been duped by a Nigerian scam. Citibank tried dozens of times to get the money to the Nigerian scammer’s bank accounts. The scheme fell apart when the receiving banks couldn’t complete the transfer. The package the documents came in were post marked coming from Nigeria (not Ethiopia [...]
Your are entitled to a free credit report from the government every year from each of the credit reporting bureaus. With three bureaus offering a free report yearly you can monitor your credit for free by spreading out the times you pull your credit.
This type of credit pull is referred to as [...]
A good credit score is 700 and above.
Anything above 800 is considered exceptional. Bad credit scores are around 600 and below.
Notable FICO credit score benchmarks
850 - The absolute highest credit score possible. If you have a credit score of 850 you’ve done a good job watching your credit history and have done [...]
Credit reporting agencies are tight lipped on the specifics of how a credit score works. While the specifics are shrouded in secrecy the general knowledge of do’s and don’ts are fairly intuitive and readily available. What it really boils down to is this: Are you the type of person that can pay [...]
Scott Adam’s book ‘Dilbert and the Way of the Weasel ‘ is pretty darn funny. If you want to learn how you, your boss, and everyone you know is a weasel this book will be enlightening.
Most of the book is dedicated to work related ‘weaseldom’ but there are some parts talking about [...]
This article by the New York Times explains why ‘consumption’ not ‘income’ is the best indicator of wealth. The article explains that the top fifth makes 15 times more income than the bottom fifth. But when compared using consumption as the criteria of wealth the upper rich only consume four times that of [...]
This might be old news for some but for others it might be new. You can get a free credit report from each of the three credit reporting bureaus each year. Every twelve months Experian, Equifax, and TransUnion will give you a free credit report. The only downside is that you don’t get [...]
Every drop counts when building residual income. Your finances are like a bucket with water coming in as your income and water leaking out as expenses. This is an exercise in examining the holes in your bucket.
While monthly interest costs is a simple calculation it is nice to know what your debt [...]
Debt = Risk
The economy for the last 20 years has grown almost entirely on debt. Real wages haven’t increased but consumption has double and tippled. We live in bigger homes, drive newer cars, and have more expensive technology than our parents did. The recent boom in housing has dumped billions of dollars [...]
Looking for a tax free, no risk investment with a guaranteed 6-18% return? This might sound too good to be true but it’s not. Once you have an emergency cash reserve it’s time to start thinking seriously about your investing strategy. Part of that strategy is finding the investment that will yield the [...]
Some of the richest people in the world drive very average cars. How average? So average you would never crank your head around to get a second look. In fact, some of these cars would be classified as old, unflattering, and beat up. What can these cars of billionaires teach us [...]
Most all financial books have common themes. The themes repeat themselves because they are formulas to building wealth. No matter the situation these principles work. In essence, becoming rich requires a break from “traditional thinking”. These seven points are what make wealthy people different than everyone else. Do you have any [...]
Summary
The Total Money Makeover was written to dispel financial myths and outline a 7 step “money makeover” plan. Dave’s style is rough around the edges and he doesn’t tip-toe around issues. If you need a kick in your pants to start being financially responsible this is the book for you. The myths [...]
Bills come every month. Bills demand attention. Not paying bills will ruin your life. When you’re late paying a bill a late fee is assessed. We respect bills. So why don’t we respect ourselves as much as we respect our bills? Why don’t we have the same set of [...]
EmigrantDirect has been my online savings account until recently. The change of banks was a result of my research on high yield savings accounts. EmigrantDirect also started requiring paper verification of new funding sources. Between the higher interest and being able to verify everything online I went with FNBO Direct. Both [...]
After paying down debt, getting an emergency cash reserve is the next thing to do when building a solid financial base. The only exception to this is maxing out your 401(k). Always take advantage of your 401(k) match regardless of your debt or emergency fund situation.
What is the ideal amount for a cash [...]
My sister asked me a question regarding debt consolidation. She wants to get her finances in order and didn’t know where to start. The following is her email and my response.
Hey, I had a question for you because your good with money. Bill and I’s plans have changed a little so we’re not [...]
Write or update your last will and testament
If you have children or other dependent making a last will and testament is a must. Without a will the courts have the power to decide how your assets and children will be taken care of after you die. Your will is one of the [...]
Summary
This book is named after Robert’s two fathers. His poor dad was an academic man with a PhD. His rich dad dropped out of the eighth grade. As an impressionable 9 year old boy he sought the secrets of the rich. Both his fathers had extreme differences in opinions. The [...]
Bankruptcy is intended to provide a fresh start to individuals. When someone declares bankruptcy much of their debt is discharged through the bankruptcy courts. When a debt is discharged it has no legal obligation to be paid back. In other words, the bankruptcy process clears the person of the legal obligation to [...]
The following five credit cards are designed to help consolidate your credit card debt. By moving all your balances to 0% interest credit cards you should save a bundle on interest charges. The list includes the best in class for the main credit card types, Visa, Master Card, Discover, and American Express. [...]
The Best Online Savings Accounts Updated October 2009
Bank
APY*
WTDirect
1.51%
FNBO Direct
1.50%
e-Trade
0.50%
Emigrant Direct
1.30%
HSBC Direct
1.35%
ING Direct
1.30%
National Average
0.30%
Note: With WTDirect, the 1.51% rate is for the first 60 days. After that the rate is only active if you have over $10,000 in your account.
Competition among online high yield saving account providers is very high. In fact, each [...]
At one point in life it occurs that we should be saving for the future. Many people, due to upbringing or circumstance, have never thought about saving or investing. This post is written for those people. It’s not a bad thing to be one of them. I’m one of them and so [...]
Want to get your holiday gifts for free this year? These five cards will give you a total of $750 in free gift cards. All you need to do is apply and make one purchase on each card. After you get your sign-up bonuses you can cancel the cards at anytime. [...]
Part of building personal wealth is landing a high paying job. The more money you make today will mean more money for investment and savings. Finding a new job is never easy. It takes hard work and a lot of tenacity. Instead of spending most your energy searching for jobs turn [...]
Is there such a thing as a free credit report? Yes! Do I have to give out my credit card for this “free” credit report? No!
Here’s how. With the Fair Credit Reporting Act you have the right to one free credit report each year from Equifax, Experian, and TransUnion. So every [...]