Archive for January, 2010

Financial Infidelity: Cheating On Your Partner With Dollars

The following post is from Neal of WealthPilgrim.com. After reading the article, be sure to sign up for free at Wealth Pilgrim to receive more from Neal.
Last week I wrote about a newlywed couple that had to deal with the issue of “financial infidelity.” To make a long story short, Karin bought a laptop (with [...]

Post by Frugal Dad

American Express Gift Card Fee-Free Code Plus Free Shipping Codes

I bought a few American Express gift cards just before holiday last December because I thought they make good holiday gifts. Now AMEX is celebrating the upcoming Valentine’s Day and Chinese Lunar New Year, both are the same day, February 14th, with free shipping codes for their gift cards. In addition to the classic cards, [...]

Original Post on The Sun’s Financial Diary

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American Express Gift Card Fee-Free Code Plus Free Shipping Codes

How To Apply For A Loan At A Peer To Peer Lender

What you can expect when you borrow money at a p2p lender.
I’ve often joked about how I would respond to a friend or family member who’s interested in borrowing money from me. With the advent of peer to peer lending, you’ll no longer need to worry about how much money to entrust to a [...]

How To Apply For A Loan At A Peer To Peer Lender

HaitiHealth.org (and personal finance links)

I’m trying to spread the word of HaitiHealth.org. It’s an organization that people close to me have been supporting with their time for more than a dozen years. If you are able to donate some money, it’s a worthwhile cause. I don’t want to distract you from that message, except with a [...]

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Seven Reasons Why Working from Home May Be Ideal For You

Telecommuting is a practice being adopted by companies around the globe as a way to lower overhead costs and foster better relationships with employees. I wish telecommuting was an option with my old employer, but it still required a lot of face-to-face interaction. I did have a lot of flexibility and some benefits mentioned here, [...]

About the Author: Jeremy is a retirement planning specialist and founder of Generation X Finance and the guide to Financial Planning at About.com. To learn more, follow Jeremy on Twitter.

Seven Reasons Why Working from Home May Be Ideal For You

Mike Piper at ObliviousInvestor.com

Mike is a twenty-something guy who writes about investing. His blog name, the ObliviousInvestor.com, is the term he uses to describe people who block out all the noise surrounding investing and focus on the things which are important. It’s Mike’s belief that most of what the media tells people about investing is irrelevant.
About Mike Piper
I [...]

Does Ben Bernanke Deserve A Second Term?

One of the more intriguing stories coming out of Capitol Hill recently has been the struggle over whether or not Ben Bernanke will (or perhaps more importantly should) be nominated for a second term as Chairman of the Federal Reserve.
To briefly recap events, President Obama announced in late 2009 that he would nominate Bernanke for [...]

Original Post on The Sun’s Financial Diary

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Does Ben Bernanke Deserve A Second Term?

Jan 2010 Net Worth Update (+4.43)

Welcome to the Million Dollar Journey January 2010 Net Worth Update – New Beginnings Edition!
If you recall, 2009 was a great year for net worth growth.  With stock markets and savings up for 2009, we managed to increase our net worth by 29%.
What’s on the horizon for 2010?  I’m hoping for more of the same [...]

What I Learn About Saving Money From Older Generations

This is a guest post from MD of Studenomics. If you hate boring finance stuff and love practical tips than Studenomics is the place for you. If you haven’t stopped by in a while, don’t be shy and please come on over to see the new design. If you enjoy this article then please consider [...]

Post by Frugal Dad

Free Turbo Tax Software!

Free TurboTax Premier Giveaway
Thanks to the team at Intuit, I’m giving away free access to TurboTax Premier to three of you!  Using TurboTax to file your income tax return has been the topic here for a few days so I figured it would make sense to give you a chance to try for some free [...]

TradeKing $50 Referral Bonus

Do you want to have a TradeKing brokerage account?
If you do, then here’s a chance for you to receive $50 to get started.
Discount online broker TradeKing is celebrating Ben Franklin’s birthday this year by offer a $100 bonus for existing users for every new customer they refer to TradeKing. Since I am already using [...]

Original Post on The Sun’s Financial Diary

Special bonus offers

TradeKing $50 Referral Bonus

How To Buy A Life Insurance Policy For Low Cost

Life Insurance tends to be one of those things that people really don’t want to deal with. We know we should have it, but it can frequently serve to remind us of our mortality. And let’s face it; it’s not all that exciting. Personally, I see a lot confusion regarding this matter. So how [...]

How To Buy A Life Insurance Policy For Low Cost

Why Do You Want To Be Rich?

This is a guest post by Joel Reese, the managing editor of We Seed, a site that helps everyday people get to know the stock market. You can find the site’s blog here.
Here’s a question: Why do you want more money?
Maybe you don’t want to luxuriate in a gold-plated bath filled with lilies [...]

Post by Frugal Dad

2010 Failed Banks

This time last year, I created a list to track failed banks in 2009. On January 23, 2009 when I wrote the post, there was a total of 3 bank failures. At that time, I also compared 2009 with 2008, the first full year of this recession when 25 banks were shut down. I was [...]

Original Post on The Sun’s Financial Diary

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2010 Failed Banks

7 Ways to Fix Your Credit After a Foreclosure

In 2009, over 3 million homes were forced into foreclosure. High unemployment, adjustable rate mortgages, and tight credit came together to make it simply impossible for many American homeowners to continue making mortgage payments.

Foreclosure leaves a big black mark on your credit report, and can drop your credit score by up to 150 points, making it hard for you to get new credit in the future. And with foreclosure expected to keep rising through 2010, many people are facing the prospect of life – and building credit – after foreclosure. If you or someone you know is facing a foreclosure, know that there is hope. While it will take seven years for the foreclosure to completely drop off your credit report, you can still take steps today to improve your credit and raise your credit score.

Strategies for Improvement

  1. Choose future housing wisely: Wherever and whenever you find your new home, be honest with yourself about what is affordable – taking on too large of a housing payment ended in foreclosure. This time, limit housing payments to no more than 28% of your total income, and total housing and other debt payments to 36%. Set aside money for your housing payment before paying any other bills or making any other purchases. If at all possible, make future housing arrangements before foreclosure proceedings begin. This will make it easier for you to find someone willing to rent to you, without regards for the damage the foreclosure will do to your credit.
  2. Use existing credit wisely: Since it is unlikely that you will be able to get new credit immediately after a foreclosure, it is important that you are very smart with any existing credit. This means doing everything in your power to avoid other bad marks on your credit – stay current on all accounts that are reportable to credit bureaus, including credit cards, student loans, auto loans, housing payments, utility payments, medical payments, and even library accounts. If you have open revolving credit (credit cards), use it to the extent that you can pay the balance off in full each month – the point is to keep your accounts open and prove you can be responsible with credit, without going further into debt. This will improve your credit score.
  3. Pay down debt: If you have existing debt, paying it off will result in increases to your credit score. If your new housing is substantially cheaper than the mortgage you had to foreclose on, use any extra money to jump start your debt payments. Use the snowball method, avalanche method, or whatever other method you want – the point is to get a plan and stick to it. Every time you reduce a balance, your credit score will climb – and zero balances will reward you psychologically as well as on your credit report/score.
  4. Live within your means: Understand your income and expenses – then create a budget and stick to it. If your current expenses exceed your income, you need to spend less or earn more. Anything else will just create more financial problems, and thus more problems on your credit report. Living within your means will prevent you from acquiring any more debt and allow you to get back on track.
  5. Get help: If you feel in over your head even after getting rid of a mortgage payment, it may be time to get help from a professional. Check with your church or community center for any programs that will allow you to get financial counseling for free. Otherwise, check out non-profit organizations such as GreenPath or Consumer Credit Counseling Service. A personal credit counselor can help develop a personalized plan to get you back on track.
  6. Monitor your progress: Throughout the process of rebuilding your credit, use free methods to check your credit score and credit report every 6-12 months. This will allow you to watch as your efforts pay off in the form of a higher credit score – but also lets you check for and dispute mistakes, to improve your credit as quickly as possible.
  7. Wait: Unfortunately, the best way to repair your credit after a foreclosure is simply to let time pass – as you move further away from the foreclosure, it will have less of an impact on your credit score.

Moving Forward

Rebuilding your credit after foreclosure can be a long and frustrating process, but it can be done. If you put your mind to creating and executing a plan, you can find relief in just a couple of years.

Written by Jill


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how to choose a retirement strategy – or not

Are you the type of person who gets excited about new ventures? Do you like a challenge?  Many people have an ‘ah-ha’ moment when they decide to get out of debt, start living a frugal lifestyle and aim towards financial freedom instead of pursuing the  accumulation of stuff.  One more pitfall exists early on [...]

how to choose a retirement strategy – or not is an original article from the website brip blap.

Rethinking The Latte Factor®

The Automatic Millionaire, written by David Bach is one of my favourite books on personal finance. I highly recommend the Canadian edition. Bach is the founder of The Latte Factor®. You’ve probably heard it a thousand times. Those small indulgences add up over time.
Just for fun and for purely research purposes I took a little [...]

TurboTax Online Edition

Did you know TurboTax online editions offer the same functionality that the desktop versions of the tax software provide?  I wasn’t aware of this until my recent chat with Bob Meighan, chief customer advocate for Turbo Tax. 
Last time I covered our conversation on the benefits of tax preparation software, who TurboTax is for and [...]

Saving With a Purpose: Early Retirement

This is the third post in a series called Saving With Purpose: Living a More Intentional Financial Life. In this series, I plan to highlight a number of specific savings goals my family has identified we would like to achieve over the next few decades.
Any post about saving for early retirement should first define the [...]

Post by Frugal Dad

Weekend Linkage – January 24, 2010

Yes, we are buying a house!
We have been looking since last December. After the new year, we went to a few open houses in this area, but found one we really like. Then early this week, some new listings in a very nice, gated community came up, all short sales. Since our agent lives in [...]

Original Post on The Sun’s Financial Diary

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Weekend Linkage – January 24, 2010

How To Buy Stocks At The Prices You Want

This guest post is by Kevin, who writes financial articles for young people at 20smoney.com and owns a website on Financial Freedom. Kevin continuously explores various investment strategies at both websites.

Want to know what to do when the stocks you like are too expensive? Then read on.
Because the stock market is just that [...]

How To Buy Stocks At The Prices You Want

$100 Cash Bonus: Refer A Friend To TradeKing

Now that the stock market has dipped a little, it may be time to consider opening that account with one of the best online brokers around (at least, in my opinion). TradeKing is one of the brokers we often mention and actively promote here: I particularly like their flat commission rates at $4.95 per [...]

$100 Cash Bonus: Refer A Friend To TradeKing

Saving for College – An Exercise in Depression

My friend from Rich Credit Debt Loan asked me a simple, but thought-provoking question last week. I’m probably going to tease you with the actual question for a little while. We decided the best answer for the question was to create a calculator and I haven’t had the time to do such a [...]

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Earn Money Submitting Free Money Deals

I’m excited to announce a new Free Money Friday offer just for My Dollar Plan readers! I know many of you like to send me deals that you find (which I love getting!) Starting today, we’re going to sweeten the deal for you by giving you free money to find and submit the free money offers!

How it Works

  • Find a free money offer and submit the form below.
  • Be the first person to submit the deal with complete information.
  • If we like the deal and it’s published, we’ll send you $5 via paypal at the beginning of the following month.

Details of the Offer

  • Each reader can submit 2 deals per month, so make sure to submit the best deals you find.
  • Please explain referral programs in the details for readers, but do not include referral links.
  • You can check the archives to see if we’ve published a deal before. However, please note that our articles are scheduled in advance, so one of our writers might be researching a deal before you submit it.

What We Look For

Want to know what we’re looking for? We like to publish free money offers that appeal to a lot of people. Our favorite deals are the easy ones with great rewards. A good example is the recent Chase Sapphire $100 Sign Up Bonus.

Sign up bonuses and cash back programs are the most popular, but we also look for other deals that readers can make money on.

Our readers live all over, so we often exclude state specific deals. We also avoid any get rich quick schemes or scammy looking deals. You can also check the entire list of current Free Money offers for inspiration.

Email readers will need to click here to access the form.

Free Money Submission Form

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Written by Madison


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Dangers of Frugality

Sometimes in our quest to save money we make… well… bad decisions. We try to save money by doing repairs ourselves or we contract inexperienced workers to do work around our home for us. These decisions may seem smart when you see a full wallet after your repair or other service is done, but they [...]

Original Post on The Sun’s Financial Diary

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Dangers of Frugality

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