Archive for February, 2009

Away until Sunday

February 26, 2009

I’m going to be out of town until Sunday night, so no posts till then 😦 Have a great weekend!

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Don’t Procrastinate!

February 25, 2009

In personal finance, procrastinating is almost always bad. Starting to save late will always cost you, but sometimes there’s even a fee for procrastinating. Take saving for college – at The Frugal Duchess, the author outlines the fees that she now has to pay. A parent who registered when the child was a newborn would pay about $82 a month. A parent who started when the child was 16? $600 a month. More than just a slight difference.

Then, check out this article at Getrichslowly. “Early Bird Bob” started when he was 20 and ended when he was 40, investing $5000 a year (total $100,000). When he retired at 67, with a 10.95% return, he had $5,938,625. “Late bloomer Bill” invested $20,000 a year for 28 years (total $560,000), and finished at 67 with $3,168,398.  Bob contributed less, but ended up with more. I highly recommend that article (this was actually the article that started my personal finance interest) – it’s interesting (to me, at least), and very informative. And it really gets the point across.

My point? Don’t procrastinate! You’ll only hurt yourself.

Money Diaries Post

February 23, 2009

There is currently an excellent money diaries post up at iwillteachyoutoberich. The guy is brilliant – he’s able to have fun and be frugal at the same time – probably one of my favorite posts of the money diaries series. This guy knows what he’s doing, and he’s doing it – not saying, I’ll do this next time, blahblahblah, but actually carrying it out.

Festival of Frugality

February 22, 2009

Good Financial Cents is currently hosting the Festival of Frugality!

Here are my favorites:

Have fun!

Links for the Weekend

February 20, 2009
  • Find out how Obama’s housing plan will affect you here.
  • Figure out what the economic stimulus will do here.
  • Prioritize your savings goals here.
  • Save money on cable here (I actually could not live without my cable, but if you can, more power to you).
  • Some personal finance tools online are listed here. Useful stuff 🙂

Sorry about the sporadic updates guys! Junior year has been craaazy. Have a great weekend!

Divorcing Money from Emotions

February 18, 2009

There’s an interesting article on The Frugal Duchess – Divorcing Money from Emotions. Women (at least from my own personal experience) have a tendency to spend money when they are depressed or down.  The post on the Frugal Duchess gives you tips for not spending money based on your emotions. For me, when I’m feeling depressed about something, I do the second best thing: online shopping (no, I haven’t curbed my addiction yet. I know, I should). I don’t buy anything online, and I get to look at gorgeous (and expensive) dresses and sigh longingly. Or, if you can spare a few pounds, go the old fashioned route and break out the emergency chocolate.

Stimulus passed

February 14, 2009

Well, they passed the stimulus. Let’s just hope that it’ll work. And I must say, I’m rather happy about the limiting of CEO paychecks and bonuses. The graph of United States income is skewed very much to the right, and I think that the gap between the rich and the poor is an issue that we need to work on, pronto.

Average is NOT Normal

February 13, 2009

Quick post – there’s a great quest post up on both iwillteachyoutoberich and getrich slowly. They’re companion pieces, so read them together here and here.

The author, Carl Richards, has a blog at http://www.behaviorgap.com/ – check it out if you’re interested.

Saving on Gas

February 11, 2009

I don’t drive (I rely on my parents), but I remember how happy I felt when we drove by a gas station and the price was below $2.00. However, recently, prices near my area have been increasing (again). So here are some links that will hopefully help you save some money.

Three Gas Myths that won’t save you Money

More from savvysugar

Americans Before vs. Americans now

February 10, 2009

According to a recent report, things Americans once considered luxuries are now necessities. The graphs show the very large increase in the percentage of Americans who consider things like microwaves and cable TV necessities. To me, it’s a little horrifying that someone even thinks that cable TV is a necessity. Is this what technology has amounted to?