Archive for the ‘personal finance’ Category

« Older Entries
Newer Entries »

Buying A Home: Have The Rules Changed?

Thursday, April 22nd, 2010

Buying A Home

Buying a home

Buying a new  home: Has the thinking about homes being the great American Dream changed???

Has the recent bursting of the housing bubble, that has caused a drop in the collective net worth in America by trillions of dollars-changed our thinking about buying a home?    Even those living in paid for homes, know that the value  has dropped, and are affected by it..

This all-to-real feeling, causes all-to-real changes in our financial behavior, and our emotions.  We spend less, and worry more- about the future.

The famous personal finance blogger, Seth Godin, has written an interesting article about the emotional aspects of purchasing a home, and a few of the changes as he sees them….

He makes several valuable points, especially pointing out what your home represents-it is not just an investment, it is a living breathing thing, in our minds…..

So let’s look at the OLD versus the NEW!!!!

Old-school home buying rules:

  • Buy as much home as you can afford, with as little money down as the bank would let you.
  • Buy the biggest home in the neighborhood-so others will know, you are the big cheese.
  • Don’t worry about having to sell, sooner than planned-there are always buyers!!!
  • You will always make money, because home prices always go up!!!
  • Utility prices don’t matter.

New (post crash) home buying rules:

  • Buy the least amount of home that fits your needs.
  • Pay at least 20% down
  • Make sure you buy a home in the middle of the price range of your new neighborhood.
  • Make sure you understand that the Realtor represents the seller-if you need hand holding hire your own Realtor to help.
  • Many “green” options now make sense with higher power, and oil prices.
  • Don’t worry about hurting feelings with a low ball offer-because you need to be able to walk away if  you don’t get the deal that fits you.
  • The investment value of real estate is decided the day you close, in most cases-you will either make money or lose it when you sell based on your purchase price-not a hoped for/prayed for increase in value…..
  • Don’t buy the home if you aren’t planning to be there for 5 years or more.

Now many of these rules, are really not new-but they have a new sense of importance.

Let me know your thoughts about home buying-will you be doing things differently now?  Love to hear your thoughts or questions.

So thanks, Seth, for your thoughts on home buying-you are welcome to join us in the personal finance blog world, any time!

See my review of Seth’s latest book, Linchpin, here!

Tags: , , , ,
Posted in Uncategorized, personal finance | 3 Comments »

Improve Your Money Management: Ten Reasons To Start Now!

Monday, April 19th, 2010

Money Management

Please Check Out This Video About Today’s Money Management Post:

Money Management, Personal Finance, Planned Spending

These are all terms for getting control of your money.

Why should you want to????

Ten Reasons on why you should manage your money better:

  1. Margin-Margin means, that if the crap hits the fan, you don’t panic, you have an emergency fund to deal with it.
  2. Giving -you see a need, now you can give.
  3. Better marriage- money problems,  a common cause of marital distress.
  4. Free time-Maybe you think the way to having more money is to work all the time.  The way to having more is usually making life simpler, enjoying your family and friends, while spending much less.
  5. Raising Children-raising children who are not spoiled, expecting life to provide them with their every whim.
  6. Freedom-If you have solid financial pillars in place, and decide to take your life in a different direction, the chance of success will be much higher-Most new ventures fail due to lack of financial capital to get you established.
  7. Serve-similar to give, but of your time-you want to do a retreat, go on a mission trip-you can just do it.
  8. Stress-damages your health, and your relationships-who needs it. Life is tough enough without money problems!!
  9. Independent-those who are dependent on others for their financial support, have lower self-esteem.
  10. Legacy-I don’t mean leaving your children a bunch of money to fight over.  I tell mine, if there is any money leftover, I just didn’t time it right!!!    Legacy means leaving the world a better place.  Fund a scholarship, help build a building at church. Leave something that shows the real YOU!

Housekeeping:

  • Use the share button below generously-thanks!
  • Sign up for my free E-Book “Emergency Money Resuscitation“, and get great money saving tips!  It will be followed by a mini-course on personal finance, with credit card, and banking tips.  All right to your email box.  I also send a monthly newsletter to subscribers.
  • Let other nurses know we are here, send them our web address and encourage their joining you on your journey to financial success!!!!

And thanks again for reading!

Tags: , , ,
Posted in Quality of Life, personal finance | 2 Comments »

Homemade Pizza, Saving On Cell Phone, and Netflix, OH MY!

Saturday, April 17th, 2010

Financial Stories

It has been another great week of reading here in the personal finance blogosphere.  Take a few minutes to check out these posts.  They are some of my favorites of the week.

Christian Common Sense has written about NETFLIX and the financial advantages of using it over cable or satellite. I would consider it, except for watching The Masters golf tourney, and my other sports stuff.  I watch it less and less, but am not sure I could completely do without!!!!

The Saved Quarter has written about efforts to cut their cell bill. Worthy of your time to review.  I did a review of BillShrink, the service he used to help cut his plan, that you can find here. Great place to visit and run your numbers.

For a story about co-signing loans or loaning money to others, check out this post from Bible Debt.

And while we are on that subject, check out Couple Money’s thoughts on the matter!

And don’t  read this post, about making homemade pizza, if you are hungry, courtesy of Eliminate the Muda.

And finally this from Free Money Finance, a post about how buying a new car is sometimes not as evil as I have discussed here.  For my take on new cars, check out this rant from the past!

Have a great weekend!  The weather is fine, here in the south.

Tags: ,
Posted in personal finance | 6 Comments »

Personal Finance Posts for your reading pleasure!

Saturday, April 10th, 2010

Personal Finance stories/blog posts I have enjoyed this week.  Go check em out….

At PF Firewall, this post concerns the pros and cons of income based student loan repayment.

At Peak Personal Finance, this post concerns watching for changes in bank fees and services related to the new banking regs.

The Girl With the Red Balloon, discusses trials and tribs of wedding planning, and spending….

Bucksome Boomer, gives advice straight from the military-”Yes Ma’m”

And at Saving Money Today, this post covers terminology related to auto insurance-something we all need more experience.

From the Mighty Bargain Hunter, a discussion of the effects of compound interest on your savings-and the differences in your retirement based on certain assumptions-worth contemplating.

And you have another week to get in on the big beauty giveaway at the Frugal Lawyer….

And at the Digerati Life, a post about ready made meals/tv dinners-homemade is always best!

And to complete our Saturday roundup, this post from Stay at Home Mom CFO, discusses a possible settlement if you have bought a push lawnmower in the last few years-maybe can get a few bucks out of it….

Have a great week.

Tags: ,
Posted in personal finance | 6 Comments »

Apple’s I-Pad: Buying One is Stupid!

Friday, April 9th, 2010

Apple’s I-Pad

Apple’s I-Pad, the newest electronic device  by Apple, was released last weekend.  Some folks waited in line for hours to be one of the first to buy.

Why do I think buying an I-Pad is stupid.

  1. 500 bucks for a device that has not even found a real use, yet….
  2. Bugs-Bugs  (problems with new devices), are always found in the first 6 months or so after release.
  3. Wireless-if you don’t have wireless capability you can’t get online-and there are already complaints about the wireless signal.
  4. If 3-G is added, you will have to pay more, and only get AT&T’s spotty service and get the privilege of paying another monthly fee.
  5. No Multi-tasking-can’t run two apps  at the same time
  6. Multiple adapters are needed to plug anything into it.
  7. No Camera
  8. No Flash video-which is present on most websites.
  9. Difficult to use the keyboard touchscreen for any significant amount of writing-plus hard to type on a small device on your lap.
  10. 500 Bucks-yes, I know that was number one, but it bears repeating, and repeating.

Now am I anti-apple?  No

Am I anti-technology? No

Am I against spending your hard earned money for a new gadget-You damn right I am.

Who should buy an I-Pad?

  • If you are independently wealthy.
  • If you have everything.
  • If you must own all things Apple.

Am I turning this blog into a high tech review site?  No, I just think it is so tempting for folks who may be struggling to get out of debt, fund their retirement accounts, and otherwise get control of their finances to be moved by the hype.  To spend money they don’t have on a gadget they don’t really need, to do who knows what with ………

Am I the only one with these thoughts?

No, check out these posts at other places:

See this video of the hype at one city during the release frenzy-sorry about the foul language.

A fellow Yakezie, College For 10K- wrote a post, with similar conclusion, but did make the point that buying digital textbooks were cheaper than hardback-so a reader such as  I-Pad or Kindle, can save money on books- I will have to look into that one.

Let me know your thoughts, on the new I-Pad.  Are you going to buy one?  If not, why?

Tags: , , ,
Posted in Quality of Life, personal finance | 6 Comments »

Great Personal Finance Reads

Sunday, March 28th, 2010

For your Sunday reading pleasure, these are reads from my Yakezie friends-(personal finance bloggers support group, on STEROIDS!!!!)

Narrow Bridge Adventures writes about credit card rewards.

Saving Money Today has a post about 7 things that are worrying the middle class.

Derek, at Christian Common Cents, writes “That if you want to win with debt, do this!”

Mrs Frugal, at Cool to be Frugal, has ideas about cheap travel to a foreign country-lets go…..

Speaking of travel, Well Healed Blog, has this idea about a joint savings account for a vacation-boy do I need a vacation….

And a post that is close to my heart as an Obstetrician, is by Jeff, at Deliver Away Debt, who writes about Enfamil and other infant formula options.  I never had to worry, as the reps were always kind to us….But of course the real thing is always best!!!!!!

Check these out and let me know what you think.

Have a great week!!!!!!

Tags: , ,
Posted in personal finance | 6 Comments »

Online Checking:Is it for You?

Tuesday, March 23rd, 2010

Online Checking:

Online Banking has been around for years.  But as this article in the WSJ describes, Americans are now even  using them for checking services.  In the past, a service confined to local banks and branches.

As many customers become more accustomed to online financial transactions, we are less “afraid” of online banks.

They also have many things to offer, that beat bricks and mortar banks:

by Daquella Manera, http://www.flickr.com/photos/daquellamanera/

Benefits of Online Checking

  • no minimum balances to obtain interest on your money.
  • no ATM fees
  • charge less for international transactions
  • automatic features to prevent overdraft fees such as “sweep” accounts-that transfer money from savings to checking
  • no per check charges/free checks

Online checking with good reviews:

This is certainly not a complete list of available companies, but in my research these were highly ranked by personal finance bloggers, and consumer groups.

So how do you decide which to use.  Mainly use your own needs to help you.  What is most important to you?

What are your Online Checking needs/questions:

  • high interest rate because you tend to keep a high balance.
  • ATM fees or free overdraft protection.
  • Do you have to travel out of the country?
  • low or no minimum to start your account-maybe you want to start small and see how it works for you.

One of the main drawbacks to these accounts, is depositing money-you may have to mail checks-and wait for them to show up in your account-if you company can’t pay you online.  So your own personal habits are important.

Some companies are developing scanning software that will allow you to scan your check and email it to them, for more immediate deposit into your account, according to the WSJ article above-hopefully that will spread soon to other online banks, with checking.

Keep in mind-if you need “Emergency Money Resuscitation” my free e-book is still available-filled with tips for saving money today, right now!  It will also sign you up for my free newsletter-The Millionaire Nurse Money Letter, and a mini-course on personal finance.  So go, now while you have it on your mind!

Tags: , , ,
Posted in personal finance | 2 Comments »

Great Reads in Personal Finance! The Yakezie Challenge Edition

Saturday, March 20th, 2010

We have had a great spring weekend so far here in the south.  But, because I love you guys-I did read and link to a few great articles for you!  Whether you are coming in from the sun,surf, or snow (for you guys still with the white stuff, sorry!)

These are all Yakezie Challenge folks! Good Reads all!

Personal Finance Journey writes this post about the cost of a new baby-not upfront costs but maintenance.

At Single Mom Rich Mom, this post on buying tweezers, makes a great point about comparison shopping-doing the same on an appliance may save you thousands, not just a few bucks-good habit to get into.

Stay at Home Mom, CFO, writes about the hazards of living paycheck to paycheck, when the paycheck is late-good reason to keep your checking balance with a good cushion.

Punch Debt in the Face-(how is that for a snarky Blog title) posted about the importance of delayed gratification in personal finance and life-go read it. (love the art!!!)

Eliminate the Muda, writes this post about the “Ben Franklin” technique sales people use to help you decide about buying something-and how to protect yourself against it.

Enjoy the rest of your weekend!

Tags:
Posted in personal finance | 2 Comments »

Razors-Saving Money the Millionaire Nurse Way!

Thursday, March 18th, 2010
Old Straight Razor by House of Sims

Straight Razor by House of Sims

Razors-I go between electric and the multi-bladed types, but mostly shave in the shower with a three bladed model-well used…..  I will admit I have a fairly easy face to shave.   I gave up my mustache when the grey went past 50% and never could grow a great beard.

I have always  hated paying the price of the new multi-bladed razors-even at Sams Club, they seem outrageous.  So when I saw this article in the WSJ about store brand razor blades it caught my eye.  I haven’t seen them-the author tried them out and felt they were well worth the ~half price-compared to the full priced brand named three blade system.

Now although I am past 50-by just a little-no comments Lisa-I know I have male and female nurse ( and non-nurse) readers.  I also know that some of the razors for women are priced higher than its male counterpart-just because it’s pink…..

But I will try to find one of these store brand models (CVS is what is mentioned in the article above) and give it the ole shave test- and see what I think.  Although my Mayor, (regular readers know I am on the city council in my fair town)-owns a local pharmacy, and if he sees me, slinking into  my local CVS, my goose may be cooked…

Now Gillette sent the author of the article above one of their new 5 bladed razors to try out-maybe they will send a poor blogger one too, although the 4 plus bucks for each refill seems a might steep for this guy……Or maybe CVS will send me a few of their new store brand products-at least that will keep me from getting in trouble with the Mayor!

If any of you have tried em, let me know what you think.  We are into saving money, at The Millionaire Nurse Blog-that is how you get to be- a Millionaire Nurse!

Tags: , ,
Posted in personal finance | 5 Comments »

Ways NOT to Save Money-and Other Good Reads!

Tuesday, March 16th, 2010

Daniel, at  Sweating the Big Stuff, posted this on Ways Not To Save Money-which I think is a good reminder of the trap that can grab you, with the rationalization of being frugal.  Being frugal, is not the same as being “CHEAP!”

I would like to add another couple of thoughts.  He mentions consumer traps.  The wholesale clubs are a great place to “not save money”.  Mainly because of all the temptations.  It is hard to resist all the great stuff at great prices.

To protect against this phenomenon, you definitely need a strong will, and a list-buy nothing unless it is on the list.

Watching TV certainly doesn’t cost anything, except when you are paying for 1000 channels of satellite tv, with the ginormous NFL, NCAA football, Nascar and movie  package comes in at a cool $150 bucks a month…..

Add in the wasted opportunity, when you coulda’  been reading a book on personal finance, (THE MILLIONAIRE NURSE comes to mind) getting free continuing education on the computer, or exercising (also can be free).

Another good read, by the Financial Samurai, is about working to make money, instead of following your passion. I think a lot of folks, unfortunately, are being given the opportunity to follow their passion-cause they lost their jobs.  That certainly can be looked at as an opportunity, rather than a crisis.  If you have always wanted to do _________, then if you have no job-go for it!

At Out of Debt again, there is a great story about Shopping at Whole Foods-my wife would have had the same sense of disbelief about a 6 buck pepper!

151 Days Off, (how bout that name for a blog), has written a post about not getting too uppity( Southern Speak) , if you are making progress in your walk towards financial freedom.  I don’t think that is likely for me, as I dig my way out of attempting to be a real estate baron in Florida-before the crash.   If anyone says they have never made a financial mistake-then run, don’t walk to the nearest exit….

All of these bloggers are in the Yakezie Challenge, which is a self -help/group support lesson in getting the word out about your blog.   I appreciate what they are doing to help the new folks on the blog-block get recognized.  Sometimes it gets lonely writing, and wondering if anyone is reading.  So look for other great posts from other members of the Yakezi Challenge. (I do love a challenge!!!)

Enjoy these great stories, I did!

FHJE69GFNCJE

Tags: ,
Posted in debt reduction, personal finance | 4 Comments »

« Older Entries
Newer Entries »