Want to get some kind of money plan in place but spreadsheets cause hives to burst all over your face? Then you might like The Envelope System, and No Credit Needed’s video explaining how it works. Basically, you cash your entire paycheck each pay period and then put every dollar in a series of envelopes in different categories, with set limits for each category. Once you’ve spent the envelope for that category, no more spending in that category. Change goes into a piggy bank. Excess left over at the end of the pay period goes into savings or to paying off more debt. As a very “analog” “lo-fi” “old-school” method of budgeting, the envelope system is hard to beat.
money
By 6.10.08
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This blogger will save $350 a year with his decision to stop drinking soda. [No Credit Needed]
Pretty Graphs Track Drowning Dollar
By 6.10.08
These graphs by GOOD magazine show how much the dollar has sunk against various currencies from May 07-April 08. But don’t feel too bad, folks, at least we’re giving the South African Rand a thorough drubbing.
Hybrids Better Values than Other Car Options
By 6.10.08
The conventional wisdom around hybrid cars has been that they will save a significant amount on gas costs during their lifetimes and are better for the environment, but that those benefits come at a cost — a higher initial price that makes a hybrid an overall more expensive option for transportation. But Yahoo Green has an analysis showing this is not the case when all of the various economic factors surrounding a car purchase are considered. In fact, it turns out that buying a hybrid is a better financial move than purchasing a comparable non-hybrid car because of the following reasons:
Don't Let Comcast Charge You Double For One M-Card
By 6.9.08
If you’re a Comcast cable TV customer and they sent you a M-Card, a card that lets you use two tuners off the same cable card, make sure you’re not getting double-charged, reports blogger Christopher Price. They were charging him double for one card and he had to call them up and remind them that FCC policy mandates one free CableCARD per household to get them to manually remove the charge. Chris says, “If you have an M-Card, check your bill. If you don’t have an M-Card, request one from Comcast and save yourself $21.48 per year… they’re already getting enough of your hard earned money.”
Personal Finance Roundup
By 6.5.08
8 Ways to Hit an Amusement Park on the Cheap [Smart Money] “Cheaper gate prices are a good start, but savvy consumers can cut admission costs even more. Here’s how.”
Instead Of One Big Retirement, Take Mini-Retirements!
By 6.4.08
Personal finance blogger JD Roth at Get Rich Slowly has been interviewing Tim Ferriss, author of The 4-Hour Workweek, about a new concept of retirement: the mini-retirement. Ferriss suggests that instead of working and saving during our careers to eventually retire and enjoy life, that we instead plan regular times of “retirement” throughout our lives. He deems these “mini-retirements.” Mini-retirements seem like they could be the same as either sabbaticals or vacations, but they differ in the following ways:
8 Rules For Smart Borrowing
By 6.4.08
Even people who are financially well off can be at risk of slipping into debt, especially in a staggering economy. There are plenty of doctors, lawyers and stock brokers who are currently on debt-management plans, according to David Jones, president of the Association of Independent Consumer Credit Counseling Agencies. Some of the warning signs of excess debt include: relying on home-equity credit lines or credit cards for everyday purchases, making only minimum payments on extended lines of credit and taking cash advances from one source of credit to pay another. To help save you from a downward-spiral into debt, Consumer Reports has put together a handy list of rules for smart borrowing. Here’s one of our favorites…
By 6.3.08
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“Maybe a whole generation will wake up and realize that collecting points on your Discover card doesn’t make you rich.” – Dave Ramsey. [TIME]
WaMu Doesn't Care You Could Be Stranded In Himalayas With No Money
By 6.3.08
Lila got her Washington Mutual debit card pickpocketed while traveling in India. Naturally, her account was drained. She filed a fraud report with Washington Mutual and a got a temporary credit issued on the account while the case was investigated. Less than 3 days later, the credit was reversed without warning. It’s not WaMu’s policy to reverse provisional credits in these matters before 30 days have passed to investigate, and not without warning. None of the various reps and fraud personal could explain why this happened, nor could they give her her money back, nor could they connect her with anyone who would or could do anything. Supervisors are mysteriously never around. It’s a good thing she already had some Rupees in hand when the theft occured, or Lila could have been stranded in the Himalayas while WaMu reps were busy playing Snood. Her complaint letter, and our advice on how to be more effective, inside…
7 Tips On Using Credit Card Rewards Programs And Avoiding Rip Offs
By 6.3.08
Whether it’s because of frequent flier miles that are impossible to redeem, overly complicated terms and conditions or reward credit cards with high APR’s, credit card reward programs are usually a rip off, according to CNN Money. Consumer Reports says that about 85% of American households participate in at least one rewards program which encourage consumers to spend more money but often turn out to be more trouble than they’re worth. To help you wade through the confusion, Consumer Reports has assembled 7 tips to help you make postive use of credit card reward programs. The list, inside…
Manage Your Money While Traveling
By 6.1.08
Budgeting a key part of travel, but your usual budgeting tricks lose their potency when you leave home. Get Rich Slowly compiled a handy list of budgeting tips to keep you from overspending on your next vacation.
5 Ways To Avoid Check Fraud And Thwart Identity Thieves
By 5.31.08
Check-altering criminal mastermind Frank Abagnale has five ways to lockdown your checking account and secure your identity. Check fraud isn’t an anachronistic threat like Communism. Determined thieves can easily use your checks to steal your cash and your identity. Here’s how to stop them…
5 Things You Should Rent, 5 To Never Rent
By 5.30.08
Many people succumb to the appeal of renting which allows consumers to make smaller monthly payments instead of paying a large lump sum. Sometimes renting makes sense but other times it’s a money trap. To help you decide when to rent, MSN Money has put together a list of things you should and should never rent. The list, inside…
Get 5% (Or More) Off Anything Anything At Amazon
By 5.29.08
ProBargainHunter tells us how to snag 5-15% in extra savings on Amazon by tweaking the “Quick Picks” function.
Personal Finance Roundup
By 5.29.08
9 Ways to Save on Gas This Summer [Smart Money] “When you add these seemingly small things together, it adds up to hundreds of dollars in savings.”
