Archive for November, 2008

Stretch your holiday fund without skimping the fun

Posted November 20, 2008 by Bernz

The holiday shopping season starts in about two weeks. Retailers are worried as sales dipped 2.8% in October. It’s definitely the season for less spending. Here’s a thought: think how much we would all save if we shopped in our own personal closets, entertained at home and ate from the food stored in our pantry. I think with imagination in most cases it shouldn’t be a problem. Even so I thought I’d offer up these cool ways to stretch your holiday shopping budget and still have fun.

If your office is doing the gift exchange thing this year and you’re nervous that it doesn’t fit into your Christmas budget, suggest that your office or department draws names and the gift you buy for a person must match the gift recipient’s name initials.

For instance, Doug Brighton could receive a Detective Book. Peggy Hall could get a pencil holder or pink hat. Charles Pruitt might receive a Cherry Pie or Cotton Pullover. The advantage over this gift exchange is that it’s a unique twist on traditional name pulling and there’s an array of choices that meet your spending budget. For example you could select a paperback book, one that’s hard cover, or purchase book on tape. Another plus is that regardless of your gift choice it will always be letter perfect. (more…)


Posted in Misc | 2 Comments »

Cool Financial Calculators

Posted November 19, 2008 by Bernz

inside-calcMeet your financial goals, track expenses, budget carefully. These free financial calculators help you do the numbers so you can manage your money.


Just click the links and then fill in the blanks.

Emergency Savings Calculator

Home Budget Calculator

Mortgage Calculator

Adjustable Rate Mortgage (ARM) Calculator

Gas Price Calculator

College Cost Calculator

Credit Card Pay Off Calculator

Loan Pay Off Calculator

Social Security Benefits Calculator (more…)

Posted in Financial Education | No Comments »

What’s the BIG deal about a 401K? Think Free Money!

Posted November 18, 2008 by Bernz

Think of a 401K as a sign on bonus that comes with a job offer because if your employee benefits include a 401K plan that is essentially what you’re getting.

20071213_401k_18A 401K is a retirement investment account funded by money that comes directly from your pay check. In other words these funds are automatically deducted from your pay check and they are not taxed. After the money is entered into your 401K it can then be allocated to different types of other investments such as: bonds, stocks, mutual or money market funds.

Many employers offer to match your 401K contribution. This is where the bonus part comes in. Let’s say you contribute $75 a month to your 401K and your employer matches your contribution dollar for dollar, you’ve earned another $75. An even better part of the deal is that as long as your money stays put, it draws interest. That’s additional earnings on top of your savings. And yes, the interest earned is not taxed. Other advantages of contributing to a 401K plan include: (more…)

Posted in 401k | No Comments »

Need a loan? By pass banks and turn to social lending

Posted November 17, 2008 by Bernz

Saturday morning I woke up to a dead cell phone. I left it in the charger so I knew it wasn’t the battery. My first thought was that my cell phone company went bankrupt. Three months ago this idea would have never entered my mine. Only today company bankrupts are so common, you expect them. Like most of you, I don’t have a home land line, but when you don’t have access to something is when you need it the most.

This got me to thinking about money and lending.

As the credit crunch continues to tighten no one is going to be able to get traditional bank loans. Americans won’t be able to get money to fix the roofs on their homes, let alone get a new mortgage. What options are available?

If you’re thinking pay day loans. My advice? Skip it. These places are bad deals for several reasons: Outrageous interest rates (think above 20%), market saturation in economically strapped communities, and they don’t facilitate good money or debt management.

If you need a loan for a business start up, new car purchase, or for home repairs your best bet for a loan might be peer-to-peer lending. This is an arrangement where you borrow from groups of people rather than traditional financial institutions. (more…)

Posted in Loans | 1 Comment »

Investment Strategies, So About This Recession….

Posted November 15, 2008 by Bernz

riskPeople with a good investment strategy aren’t sweating during this bear market because they are merely going with their strategy. You’re one of the non-sweating type right? If you’re still sweating, I will have your brow dry by the end of this article. There are two things that help determine your investment strategy, your risk tolerance and your financial goals.

Financial goals

Houses, cars, kids, jobs, moving, its hard to see into the future about what you will do, but to really make your money work for you and invest your risk capital wisely, you need to have a general idea of what you want to do in the next 5 years or so.

Risk tolerance

There are a few types of stereotypes when it comes to investing. There are researchers, dare-devils, and bubble dwellers. (more…)

Posted in Investing Strategies, Stock Market Investing, Wealth Building | No Comments »


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