Personal Finance 101 posts of the day 4/10/07

• Young and Broke lets us know that Minnesota is going to require financial education in school. And can I just say: About freaking time!!! Hopefully more states get with the program!
• Care One lists 101 ways to save one dollar a week.
• Ask Mr. Credit Card talks about what he’s learned from 10 years of marriage.
• Web Financial Planner wonders how rich is rich enough.
• Queercents talks about the US savings rate.
• Investments and Loans tells how to build your emergency fund.
• Debt Consolidation News talks about why home ownership may not be for everyone.

Personal Finance 101 Posts of the Day 4/6/07

• Fire Finance talks about the risks of payday loans.
• Money Walks give 10 tips on how to master your savings skills.
• Ririan Project lists 22 myths that can cost you money.
• Wealth Building Lessons talks about how to increase your FICO score.
• Saving Simply talks about why tax refunds are bad.
• Bankruptcy Law New York posts about why he hates pre-bankruptcy credit counseling.
• Money Walks talks about how to become a saver.

Personal Finance 101 Posts of the Day 4/5/07

• Debt Free talks about how to save money every day.
• Interest.org has a great article about credit card tricks and tactics that you should know.
• An old post from Matt Hutter talks about how to save money on credit cards.
• The Frugal Law Student tells us 5 things you should never buy new. #2 is my downfall. I buy 90% of my books used but I never borrow them from the library.
• Frugal Zeitgeist talks about why cheaper isn’t always better.
• My Financial Journey talks about finding the balance between living and saving. I highly recommend every frugal person read this! It’s important information.
• Advanced Personal Finance talks about what financial records you need to keep and which you can toss.
• Frugal for Life talks about the benefits of frugal living.

Personal Finance 101 posts of the day 4/2/07

• Blueprint for Financial Prosperity talks about Saving Beyond 401k and Roth IRA.
• Resident Alien lists 25 rules to grow rich by.
• Free Money Finance talks about how it’s the little splurges that can get you.
• Grad Money shows us how to get into the swing of cooking at home.

Personal Finance 101 Posts of the Day 3/30/07

• Mint posted on ways to reduce your expenses.
• Free Money Finance talks about why shopping with a list is important.

Personal Finance 101 Posts of the Day 3/29/07

• Free Money Finance asks: Does having control of your finances make you happier?
• Money Walks talks about saving money by buying in bulk. I'm a big fan of buying in bulk but only if you're going to use it. A good way to get around this, especially if you're single, is to shop with a group of friends and split the take. Then you all get to take advantage of the savings.
• My Money Blog talks about lazy investing (which I'm a huge fan of!).
• The Simple Dollar talks about asset allocation and rebalancing.
• Learn why you shouldn't buy a new car (and definitely don't finance one!).
• Punny Money gives us a list of the 20 dumbest personal finance questions of all time. Now personally I'm a "there are no dumb questions" kinda gal, but I'll admit that I've been asked some questions that are...less than smart.
• 3 Debt Consolidation talks about credit ratings and FICO scores.
• The Digerati Life talks about spending money on looking good.

Would you use a coupon on a first date?

John at Queercents wants to know.

It's an great question that I've never really thought of before. Dating is amazingly expensive in the beginning which makes me really uncomfortable. I'm not a fan of tradional dates, particularly not for first dates. I almost always have a first date at a coffee shop. There are a couple reasons for this:

1. It's quick and easy and low pressure. This means I'm not stuck having dinner for 2 hours with someone I don't like after the first 5 minutes.
   
2. It's cheap and easier to avoid that whole "who pays" question.
3. If things go well, there's always the option of extending the date to dinner or another activity.

If coffee isn't an option (for whatever reason) there are lots of other alternatives that are cheap/free so why not try to keep things on the cheap for both of your sakes? Try a museum, art exhibit, walk around town or a browse through a book store. Not only will you save money but you'll also have a built in conversation as you'll be able to talk about what you're seeing.

I recently had a first meeting in a book shop and we had a great time browsing and looking at all sorts of books before moving on and getting a drink. That's my idea of a great date.

Show me your creativity instead of your money and I'm much more likely to agree to date #2.

Personal Finance 101 Posts of the Day 3/27/07

• Debt Consolidation News has a good post about 50 common sense spending tips. I agree with most of them. Except # 20. I've taken long distance bus trips and no thanks, never again. I'll pay $250 for the flight to save 14 hours of my time. It's worth it not only for the comfort but also for the time savings.
• Save Money gives 4 Ways to Keep Your Credit Score High.
• The Simple Dollar talks about how to Follow Your Dreams. I love this post. Not enough people focus on goal setting. My Goal Setting class is the least popular of the Personal Finance Classes I teach but I really think it's the most important. You need direction if you're going to succeed and the key to that is to make your goals/dreams measurable and give yourself a timeline.
• The Consumerist tells us about 8 Free Personal Finance Management Programs (and a few paid ones)
• Anxiety Ended talks about how to save money and reduce anxiety.
• No Credit Needed talks about how to keep grocery costs under control.
• Personal Finance Advice talks about how to eat out without spending a lot of money.

Personal Finance 101 Posts of the Day 3/26/07

• All Financial Matters has a great summary of why renting furniture is a bad idea. I agree 1000%. I've said it over and over that financing a depreciating asset (car, computer, furniture, jewelry, etc.) is always a bad idea. The value of the product drops so quickly that it's guaranteed that you'll be upside-down on the loan almost immediately. It's a much better idea to save up your money and buy with cash. This is why you set financial goals, to plan for these purchases.
• Credit Card Lowdown lists 20 moronic things people do with credit cards.
• Money for the Rest of Us talks about how to find cheap flights.
• Broke-ass Student talks about things to watch out for with credit cards.

Personal Finance 101 Posts of the Day 3/25/07

• Ask Mr. Credit Card lets us know about common credit report errors.
• Money Under 30 talks about letting go of your past so you can move forward.

Personal Finance 101 Posts of the Day 3/22/07

• Blueprint for Financial Prosperity posts about why budgeting to the penny isn't a great idea. I agree 1000%. I actually just taught a budgeting class tonight and covered several of the points that BFP made. The biggest one IMO is that the harder you make things the less likely you are to stick to them. That's why I'm such a fan of making things automatic.

• Broke Now, Rich Later has an interesting post about emergency funds. I'm not a huge fan of large emergency funds unless you're high risk. I think they're kind of a waste because there are other things you could do with your money that's more productive. I think that if you have decent credit lines that are empty you might be better served by putting your money into a balanced fund. They're more agressive than cash but not ultra volatile so odds are against you taking a huge loss at the wrong time. I particularly think that having an emergency fund while you are carrying credit card debt is a waste of money.

• No Credit Needed tells us 10 things they've learned about their finances.

• My Retirement Blog gives us 1-5 of 10 things your 401k provider won't tell you.
  

Personal Finance 101 Posts of the Day 3/20/07

• Wealth Building Lessons gives us some tips on How to Become a Millionaire.
• The Digerati Life tells us about the mistakes he's made that cost him $1000.
• Money and Such talks about how to use credit cards to help with your debt.

Personal Finance 101 Posts of the Day 3/19/07

• Raising 4 Boys gives great suggestions on how to handle allowances.
• Story3girl wonders what money’s for.
• Getting Green talks about payday loans.
• Ask Mr. Credit Card talks about why buying a used car was a good idea.

Personal Finance 101 Posts of the Day 3/18/07

• Debt Consolidation News gives us a young adult's guide to personal finance.
  

Personal Finance 101 Posts of the Day 3/12/07

• My Simpler Life talks about how to get out of debt.
• Free Money Finance talks about how to get out of debt.

Personal Finance 101 Posts of the Day 3/8/07

• Daddy Financials talks about his debt repayment strategy.

Save money AND have fun? Sure!

The Simple Dollar has a great post on 10 frugal activities to do with friends and how to suggest them.

Since it can be hard to both have a social life and be financially responsible, it's important to come up with ideas of things to do that don't cost a lot of money. Trent makes several good suggestions including: book clubs, old movies and (my personal favorite) camping.

Lucky I live in a city with lots of free activities but I bet your city has some great things going on too. If you need suggestions, head to a book store and look in the local interest section. There may be a book or two that will tell you about things you never even knew existed. Look in the local paper for festivals, art openings, etc. Search online for clubs and social groups. Be creative and if you don't start pre-existing activities start some of your own.

Good luck!

Personal Finance 101 Posts of the Day 3/5/07

• Burst Creativity talks about how to change your money fate. (scroll down, it’s there)

Personal Finance 101 Posts of the Day 3/4/07

• Wenchypoo talks about how to save money in lots of ways.

Personal Finance 101 Posts of the Day 3/1/07

• Blueprint for Financial Prosperity tell us 6 10-minute money moves that can change your life.
• Universe of Success talks about how to get out of debt.

20 Small Ways to Save Big

Kiplinger's posted a great article about 20 easy ways to save money. How many do you do?

1. Give yourself a raise and bank it. Don’t lend Uncle Sam free loans. Adjust your tax withholding rate and get yourself a bigger take-home check.
2. Open a 401(k). If your employee offers 401(k) with company match and you decide not to participate, you simply let the free money slip away.
3. Raise your car insurance deductible. Higher deductible means lower premium. Go with $1,000 instead of $250. You might as well drive more carefully.
4. Pay off your credit card. What’s the chance you can earn a 18% return? Paying off the 18% APR credit debt will give you just that.
5. Go green. Buy a programmable thermostat and save on your energy bill.
6. Bundle up. Buy a bundle (phone, Internet and cable from one provider), save a bundle.
7. Use your employer’s FSA. One dollar saved on taxes is one dollar net income. That’s why you should contribute pre-tax dollars to flexible spending account.
8. Get a credit card with rewards. Why refuse the cashback for the money you have to spend anyway?
9. Kick the habit. Smoking can burn a hole on your wallet and your lung.
10. Brown bag it. Instead of spending $8 on takeout every day at work, bring a home-cooked meal with you.
11. Negotiate your rate. Got a good credit? Then call your lender for a more favorable rate.
    
12. Travel on the cheap. Forget about Travelocity, Expedia and Orbitz. Go to Sidestep.com or Site59.com to find a better travel deal.
13. Insure yourself. Use a high-deductible medical policy together with a health savings account can save your money on premiums now and medical bills in the future.
14. Make media free. Why buy DVDs and books when you can get them from your library for free?
15. Change your calling plan. If you use your cell phone for less than 200 minutes a month, you may be better off with a prepaid plan instead of a subscription-based plan.
16. Park your car. With gas price again on the rise, why not use public transit or carpooling (if possible) to save money on gas?
17. Ditch your gym. Check out your community centers first. Or better yet, put on the running shoes and hit the road because you don’t have to pay to stay in shape.
18. Reshop your auto insurance. It pays to shop for everything and auto insurance is no exception.
19. Learn to cook. Cooking at home is good for your body and your wealth.
20. Keep track of your money. How can you cut your spending if you have no idea where your money went?

Be careful with those balance transfers

Young and Broke did a great post about Balance Transfer Boo Boos.

Balance transfers can be great but there are definitely some things you want to look out for and Y&B covers the main 5. Those who are playing the balance transfer game (whether it's to pay of debt or earn money) should definitely check it out.

Personal Finance 101 Posts of the Day 2/25/07

• Wenchypoo talks about how to get rich by letting go.
• Todays 10 gives 10 money tips for almost everyone.

Personal Finance 101 Posts of the Day 2/23/07

• The Free Geek tells us 12 little known facts that cardholders should know.
• Debt Consolidation News talks about how to avoid debt traps.

Personal Finance 101 Posts of the Day 2/13/07

• Worldwide Success talks about ways to deal with debt.

Credit cards are not evil!

I say it over and over again in my Personal Credit 101 class: Credit cards are not evil if used correctly. In fact, they can come in handy and make you and extra few hundred dollars/year in rewards or interest.

Stop Buying Crap agrees in his post Why I Still Love Credit Cards.

He makes a pretty convincing argument.