Fiscal Musings

Prepaid Phone Cards

2008-04-27T22:56:00.003-05:00

In today's world, keeping in touch with people is not just more prevalent, but it's increasingly more and more important. With the speed of communications in business, you have to be able to get in touch with people quickly just to remain competitive. And families are also wanting to keep in touch with each other more easily. The many choices include cell phones, email, and texting. There's also computers with message boards, instant messaging, and of course blogs. But these aren't the only ways.

Another way to get in touch with people these days is still with prepaid phone cards. Basically you're buying a a certain number of minutes at a certain rate. You can buy whatever amount you want to call wherever you want to call. They can also be a great way to get cheap rates on calling internationally. You can choose to give them as gifts to friends and family members to make it easier for them to get in contact with you. Or you can just buy them for yourself to get a great rate on calls to wherever you call most. So take a look into these prepaid cards and see if the rates you can get makes it worth it for you. It may just be the way to go for you.

Prices Continually Going Up

2008-04-27T22:44:00.002-05:00

As you may have noticed, prices are going up pretty much all across the board. Probably the most noticeable of these increases is the price of gas. Our area is usually one of the cheaper ones, and we're at $3.59 per gallon. Food prices are also going up. Just look at milk prices.

I also read an article recently that said you may want to consider stocking up on food at the current prices instead of trying to put money away in some sort of savings account at the current interest rates. It's at least something to consider.

Sports Forum

2008-04-17T11:53:00.002-05:00

If you're really into sports and just can't get enough of it, then let your opinions and thoughts be heard. You can share your nfl picks and any other insights at Addict Sports, a sports forum for any sports fan. Take a look at what they've got going over there, and then join in the conversation.

Try Active Investing

2008-04-17T11:52:00.000-05:00

Investing decisions are things that should be done carefully and with at some thought. I'm always amazed at people who call themselves investors, yet they have no idea what they have their money "invested" in. Just handing your money over to some fund manager isn't exactly an active investment, and you usually don't have a clue what investments are actually being bought with your money.

So when you are looking to invest, give it some thought. Try to learn as much as you can about investing in area you're interested in, and then go for it.

Liquid Force Wakeboards

2008-04-10T19:56:00.002-05:00

Growing up in Texas with a lot of lakes around, one of the more popular things to do was to go boating and just hang out on the water. And one of the things that people liked to do was wakeboard. It's definitely fun and can also be great exercise.

In order to participate in this sport however, you've got to have the right gear. This is where the folks at BuyWake.com come in. You can get your hands on Liquid Force Wakeboards as well as all of the other things you'll want and need. They also have a nice apparel section complete with shirts, hats, board shorts, and even eyewear.

With the spring and summer months approaching, it's a good time to gather all the essentials for a great time on the water, and this includes wakeboarding.

Two Wealth Building Principles

2008-04-10T19:49:00.002-05:00

There are two main wealth building principles that you can follow in order to secure your financial future. They're nothing specific about how to make money or what exactly to do with it, but they can guide the decisions you make about your money. Here they are:

1. Supplement Your Income. This can be through many different means such as starting a side business or investing, which is having your money work for more money. Do this enough, and the supplemental income will eventually eclipse and replace your former main source of income. This is where you want to be.

2. Maximize Your Dollar. We all know this applies to our everyday purchases and expenses otherwise we wouldn't spend so much time trying to find the best deal on whatever it is we're looking for. However, it should also apply to our investments as well. Don't just look for the easy place to stash your money in hopes that you'll earn a decent return. Shop around and take the time and effort in order to maximize your investment dollars as well.

Waste Management Software

2008-04-10T17:17:00.002-05:00

For those of you who work for or with any type of waste management, services there's a software package that's just for this business. This Waste Management Software is already in use at many locations across the United States and aims to help simply all the various processes associated with this service.

It can be used for the managing of landfills, transfer stations, recycling facilities, and even rock quarries. It can be installed on individual PCs as well as entire networks depending on the specific need. You can find out more information about this software on their website. So check them out to see if it will work for your needs.

Increased Gas Prices

2008-04-10T17:09:00.002-05:00

As I was just driving home today, I noticed that the price of gas had spiked up to $3.39 per gallon. I have read that the national average was around this price, but our area has been a little under this threshold up until now. I can see how this price can be a little worrisome for many people since the increases just don't seem to stop.

Even with these current gas prices, it shouldn't be that big of a strain on your finances. I say this because the increase only means about four or 5 dollars more per fill-up depending on the size of your gas tank. If you don't have at least this much wiggle room in your budget, then you have larger issues than just the current gas prices.

Tactical Police Gear

2008-04-08T09:57:00.003-05:00

If you're in the law enforcement field and are looking for the right gear and tactical equipment, then you should check out LAPoliceGear.com. They have a large selection of all different types of equipment that you should be able to find what you're looking for. So check them out and browse around to see if you can find what you've been looking for.

Memphis Gave The Game Away

2008-04-08T09:54:00.003-05:00

On a less financial note, the NCAA national championship game last night was a really great game. I was pulling for Memphis to win it all, but apparently they chose to choke in the final few minutes instead. I can't say that that upset about it though, since I'm not really a Memphis fan. Of the two teams though, they were who I wanted to win.

I don't expect them to make another run next year though since they'll most likely be losing a lot of their players. So it was a good year for them, but I'm pretty sure it'll be a while before they're back playing for it all.

Bad Credit Loans

2008-04-02T15:25:00.008-06:00

With the recent issues in the credit and loan markets, an increasing number of people are finding it difficult to get a loan. If you're in this situation, you'll want to look into bad credit loans as a possibility for your financial situation. Obviously you'll want to have a good reason for taking out a loan, but when you need one it's good to know that the possibility is still available. So check out BadCreditOffers.com to get more information about these types of loans.

How Much Can You Save Per Month?

2008-04-02T15:20:00.002-06:00

Most people have a general notion that it's good to save money, and I'm not talking about how much you "save" after buying something on sale. I'm talking about actually putting money into some sort of savings account, or even cash into an envelope. But how much can you actually save personally?

Start out by saving a specific amount every time you get paid. Little by little, increase the amount that you're saving and see at what point things really start to get tight. I'll be you'll find that it's a lot more than you would have initially thought. So give it a shot, and find out how much you can actually save every month.

Debt Consolidation at CreditLoan

2008-03-25T16:37:00.002-06:00

I think it's safe to say that most everyone has dealt with some form of credit or financing at some point in their lives. It can be as simple as a department store credit card or as complex as some mortgage and business loan products, but dealing with financing issues is common to many people. I've had my share of loans for various things from car loans to mortgages and credit cards. They all can be useful tools, but sometimes people can get over their heads and accumulate more debt than they can easily handle.

If you find yourself in a situation with too much debt, check out the debt consolidation archives at CreditLoan.com to find out how consolidating your debts may be just the right financial tool to get you back on track.

Save Money At Lunch

2008-03-25T16:22:00.002-06:00

For almost the last two years I've been bringing my lunch to work instead of buying lunch everyday in the on-site cafeteria. I often think about how much people spend though when they buy lunch everyday. The typical lunch costs about $5 which doesn't seem like all that much until you add it up over weeks and months.

It adds up to about $25 per week and over $100 per month. That's quite a bit of money these days, especially when you consider all the stress over the rising price of gas. Now, I understand that bringing lunch to work isn't free since groceries still have to be paid for, but usually the cost is significantly less. It's something to consider at least if you're looking to save a little money here and there.

Mortgages and Buying a Home

2008-03-23T16:28:00.003-06:00

Buying a home is one of the most important financial decisions you'll make throughout your life. And in doing so, you'll most likely need to get a mortgage to finance the purchase. Mortgages come in many different varieties and sizes, and you'll want to make sure that you get the best type for your situation.

When we've purchased homes we've gone with a 30 year fixed rate mortgage so that we wouldn't have to worry about a fluctuating payment when the interest rate changes. We're able to fix the monthly cost of probably the biggest monthly expense. If you're not planning to stay in a certain home for more than a couple of years, you may want to consider a type of mortgage where the rate adjusts after the first so many years. You don't need to worry about it though since you'll be moving. The main point with mortgages though is that you want to make sure that you understand what you're getting yourself into.

Alternative Passive Income

2008-03-23T16:17:00.002-06:00

A lot of people talk about the importance of alternative income streams and for good reason. Besides just providing some extra money here and there, it's a way to lessen your dependence on your primary source of income, which is usually your job. If for some reason you were to lose your job for something out of your control, it sure would be nice to have some other source of income to fall back on.

In order to eventually reach financial freedom though, we need to start looking into specific types of alternative income streams. I'm talking here about "passive" income streams. This is money that comes in regardless of anything else. It can include interest income, investment income, and other types. This type of income isn't easy to create, but it will definitely be worth it once you have.

Dealing With Termite Problems

2008-03-21T21:07:00.004-06:00

I remember my family having termite issues when I was growing up. I didn't think too much of it really until I had a home inspection done on the first house that I bought. During the inspection, termites were found in the basement, and the sellers had to have the problem taken care of. It's not something that I think about on a regular basis, but drywood termite control is something that should be thought of every so often so that major problems don't crop up. If they aren't caught soon enough, they can do significant damage.

How Do You Choose To Save

2008-03-21T20:55:00.002-06:00

We all know that we should have some sort of savings plan, but how we go about this varies wildly from person to person. I've heard from some people who choose to put into savings whatever amount is in their checking account when they get paid again. I, on the other hand, transfer a certain percentage of all income into savings. Still others have a more erratic savings schedule and make transfer only when they feel they can afford it.

I don't want to say which way is the overall best, but rather that it's important to figure out how things work best for you. And if you're not making savings a priority currently, it's probably time that you did.

BMW Parts Store

2008-03-20T19:46:00.004-06:00

For quite some time I've wanted to own a BMW. Hopefully I'll eventually get one, but for those of you out there that already own a BMW, there an online store where you can get BMW Parts. You can find body kits, wheels, spoilers, and a variety of other accessories. So if you're looking to improve the look and performance of your BMW, check them out to find the parts you're looking for.

How Much Does It Take To Be Rich

2008-03-20T19:27:00.002-06:00

I think it's safe to say that there are a lot of people who want to be rich. It's not necessarily a bad thing, but the term rich is pretty vague and unclear. If you ever hope to reach a goal like this, you need to better define for yourself what it means to be rich.

For a lot of people, a million dollars seems to be the magic number. For you it may be higher or lower. You may also choose to define it in terms of monthly income instead of a lump sum. If that's the case would it be five thousand per month or something more like a hundred thousand per month.

However you define rich, if you want to get there, make sure it's accurately defined so you have something to work towards.

Avoid Bankruptcy with Debt Management

2008-03-19T16:25:00.004-06:00

Most people have at some point in their lives gone into debt for something. It could be a mortgage for a house, a car loan, student loans, business loans, or even personal loans. Probably the most actively used form of debt comes in the form of credit cards. No matter what the debt is used for, it can become quite a burden if you're not careful. You'll want to make sure that use some form of Debt Management so that things don't get out of hand.

If you've already got some debt to work with, probably the most important thing would be to stop adding to it. It's hard to pay off a balance that just keeps growing. You'll then want to make regular debt payments over and above the required minimums. This is the only way that you'll ever free yourself in a timely fashion.

Prioritizing Your Expenses

2008-03-19T16:17:00.002-06:00

I hear all the time from some people how important it is to have a budget and stick to it. Personally, I don't really care for budgets all that much. I don't feel like detailing every little category out and it can become quite time consuming. I've found that it's much simpler to prioritize my spending or expenses and everything will take care of itself.

Here's the basic rundown of how things work:

1. Set aside money for charitable giving.
2. Transfer a set amount into the emergency fund.
3. Transfer money into the investment pool.
4. Pay all necessary bills.
5. Spending money is left over.

This is more or less all there is to it. I make sure that the things that are most important are taken care of first, and the rest just falls into place. Your list may be different based on different priorities, but you get the idea. So if you're tired of budgeting, you might want to give this system a try.

New Hip Hop Site

2008-03-18T20:34:00.003-06:00

If you're in to rap and hip hop music, you ought to check out the new site, RapArtists.com. You can find information about the many artists as well as vote on which you think is the best rapper at the time. Aside from just the artist's bio's though, you can also get info on the latest releases from these artists. The site is also well laid out and easy to navigate which makes using the site much nicer. So check them out and see what you think for yourself.

Evaluating Your Financial Condition

2008-03-18T20:30:00.002-06:00

How often do you review your finances to make sure that everything is in order? Maybe the more intriguing question would be, how often should you review things to make sure things are fine? This isn't an easy question to answer since it varies from person to person. I know some people who would benefit from a daily or weekly assessment and then there are those that would be fine checking in every couple of months.

You really need to get to know yourself and what your relationship with money is like. If you're a compulsive spender, you may need to keep a tighter rein on things. Ultimately you'll need to find what works for you, but whatever frequency you choose, it should be more or less a regular occurrence.

Modern Skate and Surf

2008-03-11T12:00:00.002-06:00

Growing up I used to really enjoy skating. I mostly went for the inline skating and then made the transition into roller hockey. I really enjoyed it and it was great to be able to get out and be active. For those of you that enjoy the same sort of thing, you can get some great gear from Modern Skate and Surf. You can get Liquid Force wakeboards as well as skateboards, longboards or inline skates. You can also find the protective gear and other accessories that you need. The site is simple to navigate and find what you're looking for so you can get what you want and be on your way. So if you're looking for some new gear or would like to get started, check them out.

Always Pay More Than The Minimum

2008-03-11T11:55:00.002-06:00

On any loan payments or credit card payments there is always a minimum required payment. As I'm sure you've heard with credit cards, if you only pay the minimum payment it can take over 30 years to finally pay the amount off and you'll end up paying possibly 5 times or more the original amount that you borrowed.

A habit that you can get into which will end up saving you thousands in the long run is to always pay more than the minimum payment. There are plenty of calculators out there that can provide you with various scenarios, but it's no secret that the more you pay towards the balance, the less interest you will be charged. It's basically a guaranteed investment return which is definitely more attractive these days with the current market situation.

Learning Management System from Conductor

2008-03-10T20:38:00.002-06:00

If you work for a large corporation, you've probably encountered some sort of training that you needed to take in order to do your job effectively, become compliant with various regulations, or to learn some other skill. Making sure that all employees are equipped with the necessary skills to perform their jobs can be quite a task in and of itself though. This is why Conductor has developed a software package that allows you to handle all of your training administration. It pulls together all the necessary steps for your program such as employee tracking, curriculum design and development, training tracking, scheduling and reporting. If you're looking to get a better handle on your employee training program, then this program could be just what you're looking for. And if you're not sure, they have a free trial offer of 30 days for the program as well that you can try out.

Today Was My Birthday

2008-03-10T20:23:00.002-06:00

I turned 27 today, which is kind of weird for me to think about, but I'm not going to get all bent out of shape over it. I still consider myself pretty young anyway. Having to still go to work was probably the worst part of the day, but it's something you gotta do. We then went to a pizza joint this evening that has everything on their menu at 50% off on Monday's. I probably ate more than I should have, but there's no changing that now. All in all, it was a decent day.

Free Insurance Quotes

2008-03-04T20:57:00.002-06:00

Insurance is one of those topics that people in general don't really like talking about. I would guess that most people only deal with insurance when they have to like when their premiums are due or when they need to switch to a new provider.

While I don't like to think about insurance too much either, I do believe that it's an important part of one's financial plan. When you purchase a home, you want to make sure that you're getting enough and the right coverage, but you also want to make sure that you're getting a great price. Since it's legally required to have auto insurance on your vehicle, you have to decide what level of coverage you want and what price you're willing to pay. You've also got to consider deductibles. Also if it's your thing, you'll want to get Motorbike Insurance so that you have coverage if you run into any problems.

One way to find different insurance plans is to get free quotes online. You have the comfort of your own home and you can take as long as you need to make a decision. So check out the link to get a few quotes for yourself. Information never hurt anyone.

Using Coupons

2008-03-04T20:42:00.002-06:00

I've recently talked quite a bit about coupons and whether or not it's worth it to use them. Some people I've talked to don't really care much for coupons, but here's my opinion on the subject for what it's worth.

Trading a small piece of paper for a discount off of something that I was going to buy anyway is always a good deal in my book. I understand that sometimes it may not be worth the effort to search out some coupons, but usually it doesn't take much time at all. And with the amount of television people watch, I'm sure you can find a spare moment or two.

It's also important to use coupons only for things that you were going to buy anyway. Trying to save a dollar on something that you have to pay another 10 for doesn't really qualify as a great deal. So, don't be embarrassed to use coupons, and just think of all the money that you'll be saving.

Web Hosting Choice

2008-02-29T19:38:00.003-06:00

I'm sure that there are a lot of people out there that would like to have their own website but are unsure how to go about it. For these people there is web hosting choice, which is a site that wants to guide you in choosing a web hosting plan. They have a searchable directory that lets you find a hosting company that matches your parameters. So check them out, and find out what plan is right for you.

What To Do With Your Bonus

2008-02-29T19:26:00.002-06:00

It's not unusual that people get a bonus from their place of employment. It's usually on a yearly basis, but others are a little more sporadic. Whenever you get a bonus however, it's a great way improve your finances in a big way.

One great thing to do with your bonus is to pay off any debt that you may have. Hopefully you're not faced with any, but if you are, pay it off as quick as you can. Trust me, you'll thank yourself later.

A bonus is also a great way to add to your savings or increase your investments. If you're looking to add to your retirement accounts, this is the perfect way.

Whatever you choose to do with your bonus, make sure that it counts. Don't just blow it all on some consumer item.

Bad Credit Card Offers

2008-02-29T18:08:00.003-06:00

The credit crisis is now in full swing, and many people are having issues with their finances. If you have had issues with your credit in the past, then it may be time for you to start turning things around. You can start rebuilding your credit with bad credit credit cards and making your payments on time. You can find cards for people with less than perfect credit and begin repairing your credit as well.

Savings and Security

2008-02-29T17:57:00.002-06:00

It's amazing what something as simple as savings can do for you. Having a stash of easily accessible cash can provide a great security blanket for you and your family. You don't have to worry about any small mishaps throwing your finances into a tailspin.

In order to achieve this type of security, all you have to do is make regular savings a part or your financial routine. When you take the time to pay your bills and such, just take another quick minute to put some money away into your savings. Over time, you'll be amazed at what you can accomplish.

Money Magic Mortgage Information

2008-02-22T21:34:00.003-06:00

A British website titled Money Magic talks mainly about anything and everything dealing with Mortgages UK. They have a story on their news tab that talks about the majority of people wanting a fixed rate mortgage. The title of the story, while not untrue, is a bit misleading in my opinion since the results of the poll say that only 57 percent would choose a fixed-rate option. Most people would be inclined to choose this option since it would protect them from rising interest rates.

The story points out though that these consumers would miss out on any future decreases in interest rates. While this could be true, interest rates have a tendency to rise quickly and lower slowly. Plus, if interest rates have really gone done, you could always refinance.

Getting Your Taxes Done

2008-02-22T21:24:00.003-06:00

Tax time is now in full force, and hopefully you've already at least gotten a start on them by now. You can choose to have your taxes prepared by someone else such as a CPA, or you could attempt to handle them yourself. In the past I always used the free version of TurboTax since I didn't have all that complicated of a return and I was able to get it done relatively quickly. I now use a CPA since things have gotten a little more complicated. You just have to decide what's right for you on a year by year basis.

Savings Accounts

2008-02-08T20:22:00.000-06:00

If you have a job or some form of employment that provides you with income, it's a good idea to have some sort of savings account. There are many different types of Savings Accounts available to you and which one you choose will depend on the purpose of the account. It's also possible to have multiple accounts which you would do to separate different amounts of money you're saving for each purpose. You may have an emergency fund account along with a vacation savings account. You might also want an account so that you can save for that first down payment on a house or another significant investment. So, whatever purpose you want to save for, make sure you make the best use of a savings account that you possibly can.

Thought on Credit Cards

2008-02-08T20:19:00.000-06:00

I've been hearing a lot of people talk about credit cards recently and why you should or shouldn't have them. Some say that you should cut them all up because they're evil and will put you in debt. Others like the flexibility and the rewards they offer. Whatever stance you take, just make sure that you act responsibly with them.

First Rate SEO

2008-01-25T23:26:00.000-06:00

If you've had a website before or have been blogging for even a little while, chances are that you've run across Search Engine Optimisation (SEO) a few times already. You've probably heard others talk about it and how important it is in order to get traffic to your site. For those of you who don't know though, search engine optimization is a way of organizing and presenting your content so that your site will get more traffic from search engines. Some things you can do yourself, but for others you'll probably want some help. First Rate is just such a company that provides SEO and marketing help as well as other related services. Check them out to see if they can take your site to the next level.

Moving To Wordpress

2008-01-25T23:23:00.000-06:00

There have been some changes at Fiscal Musings, and I've switched over to Wordpress as a blogging platform. I've been looking for a more customizeable approach and increased flexibility. Hopefully everything will work out much better and the blog will keep growing.

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America One Unsecured Loans

2008-01-24T18:57:00.000-06:00

There are all sorts of reasons that you may need to take out a loan. You may want to refinance all of those credit card balances that you have and combine them into one loan with one interest rate. Perhaps it's time that you got a new vehicle because your current one is costing you more in repairs. You may also be looking to finally start that business that you've always wanted to get off the ground. If this is the case, you're going to probably need to get a Business Loan in order to get started. At AmericaOneUnsecured.com you can find help in acquiring such a loan. You can get unsecured Business Loans meaning you don't have to put up any collateral for it. The loan approval is based upon your current credit standing. You can get flexible terms on a variety of loans or you can get a revolving credit line. You can start their process online with their pre-qualification form or you can contact them by phone if you'd prefer. And you can use the loan you receive for any purpose you wish. If you're looking for just such a loan, check out their website to find out more.

RSS Feeds and Readers Explained

2008-01-24T06:52:00.000-06:00

If you've read enough blogs, you've probably heard of feeds or RSS and seen a lot of those little orange logos like you see here on the top right. This post, however, is for all of you who may be new to the world of blogging and aren't entirely sure what a blog feed is and why everyone is asking you to subscribe.

What exactly is an RSS feed?

RSS is a form of content syndication commonly known as Really Simple Syndication. This is also what is referred to as a feed or blog feed. The format is specified with XML which you can read more about at Wikipedia if you're interested. The purpose of these feeds is so that you can keep up with your favorite sites automatically and all in one place by using a reader.

What exactly is a reader?

You'll always be asked to subscribe to someone's feed and to do this you need something that will read it. The software that accomplishes this is an aggregator or what's commonly to referred to just as a feed reader. These aren't anything complicated and most of them are free to use. In fact, you can use Google's feed reader for free, and it's already integrated with your existing Gmail account.

In order to subscribe to a website's feed, you just need to click on the RSS logo or other feed link and then choose the reader that you have. It will then add the feed's content to your reader along with everything else that you subscribe to. This way you'll only need to go to one place to read all of your favorite websites instead of having to visit each site one by one. You can also have the feed delivered to your email address if you'd rather go that route.

Give it a shot.

So now that you know what all this feed talk is about, you ought to check out either Google's feed reader or any other reader. They're really easy to use and you can organize the different feeds into categories however you'd like. And this wouldn't be much of a post if I didn't put a plug in for my own feed that you can subscribe to above or at the link here at the bottom of this post. You'll get to be reminded all the time to save and invest and learn to improve your finances.

Also, if you've got any other questions about the blogging arena, I'll do my best to answer it or at least point you in the right direction to someone who can.

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MBA Acceptance Letters

2008-01-23T07:21:00.000-06:00

As I've mentioned before, I'm looking into going back to school to get an MBA. I've applied to only three schools, the University of Texas, Ohio State University and Arizona State University, and I've been accepted to all three. I'm still waiting to hear from the University of Texas about any scholarships and their financial aid package, but hopefully that should be coming soon.

I would like to add one more piece of evidence though, that it seems like things are much bigger in Texas. There was a drastic difference between the different schools in what they sent to me for my acceptance. I got a letter from both Ohio State and Arizona State, yet I got an entire binder of information from the University of Texas.

I'm still undecided as far as which school I'm going to choose, mostly due to not having the financial information from Texas. Once I get this information I should be able to make the decision fairly quickly. As soon as I know anything more, I'll be sure to post about it here. And once I know which school I'll be going to, I'll be able to relate a little more about the application process as a whole for all of these schools.

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Online MBA at Columbia Southern University

2008-01-22T21:33:00.000-06:00

I've talked quite a bit before about me going back full time to get my MBA after having taken the GMAT. Choosing which schools to apply to was probably one of the steps that took me the longest. You've got to decide what type of program you're looking for and what the curriculum is like. You want to make sure that the program fits your goals and matches your interests. You've also got to choose the location of the place you want to spend the next couple of years. It's an important decision and should be made carefully so that you have the best experience possible.

But not everyone who wants to get an MBA also wants to quit work and relocate. It's a big life decision and these may not be things that you want to or are able to do. For those of you there are other options available. It's becoming more and more prevalent for people to get an online mba these days. And Columbia Southern University offers just such a program. They have degree programs in a variety of concentrations such as finance, health care management, e-business, international management, and even sport management. They offer an open enrollment and they even include the textbooks at no extra cost above the tuition.

The Laminate Flooring Adventure

2008-01-22T07:22:00.000-06:00

Since I'm going to be looking to sell our house when I go back to school, it's more or less constantly on my mind. I'm always thinking of what could be done to make the sale go smoother and what potential buyers might have an issue with that I can fix now.

I've known for a long time that I need to do something about the carpet in the front room, but I didn't know what exactly. I wasn't sure whether I should put down new carpet or try to clean it and see what it would look like. Well, I've actually decided to go with something completely different. I had heard from some people at work that they were selling some laminate flooring for 69 cents per square foot over at Lowe's. So while I was out the other day I stopped by to see if it was still that price. This is what I found:

I ended up buying 42 cases of the oak style laminate flooring and 10 rolls of the underlayment. I've never done anything like this before, but I figure I'll learn how. I'm going to have to rip up all the carpet and a small area of linoleum and then put this down. Hopefully it'll not only turn out well but also help sell the house easier. What do you think?

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Trusted Tours and Attractions

2008-01-21T17:36:00.000-06:00

This is a sponsored review.

When I used to live in Utah while I was going to school, I had the opportunity to visit Las Vegas a couple of times. The first time I went down was during the summer to visit a friend and to check out all of the casinos along the strip. It was a great time since I was able to stay with my friend and he was able to show me around. I didn't have to be the typical tourist since he already knew where we were going and how to get everywhere. I also went back to visit for New Year's Eve. It was cool to see all the fireworks being shot from the top of all the casinos, but trying to get home afterwards was a nightmare. It took us about three hours to get out of downtown.

You could also get a Las Vegas tour from Trusted Tours and Attractions. You can purchase discount tour packages and look for different things to do in whatever city you choose. You can also win a handheld GPS by signing up for their newsletter. So, if it's your thing, check out the sightseeing tours and everything they have to offer.

The Big Deal at Jack in the Box

2008-01-21T08:02:00.000-06:00

It's not something that my wife and I do very often, but last Friday night we decided to go out and grab something eat. Since I don't like to spend a lot of money on eating out, we thought we'd keep it simple. I remembered that I had seen a commercial from Jack in the Box about a new offer they're running called The Big Deal, and we thought we'd give it a shot.

The Big Deal is comprised of either a cheese burger or chicken sandwich along with two of their beef tacos and a 20 oz. drink. This combo type meal doesn't seem all that different from any other fast food restaurant except for the price. It's only $2.69 for everything. So, as you can see above, the total bill for both of us was under six bucks.

I was also amazed at how much we got for that price. I was a little skeptical at first because I figured the food would be miniature. I'm glad that I was pleasantly surprised though. Having the tacos included in the meal instead of the usual fries was great as well. I'm a huge fan of their tacos. It was also nice to get beverages included with everything. I usually don't buy them because I don't see the value in it and I can get it cheaper elsewhere, but the price was right this time.

If you're looking for a great meal at a real low price, just head on over to your nearest Jack in the Box. I've been a big fan of them for quite a while, but they've outdone themselves this time. Now if only they'd put together a deal like this that includes the Sourdough Jack...

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Weekend Edition: Government, Redesign and Foolery

2008-01-19T06:05:00.000-06:00

1. With all the fear of recession in the market and in the economy as a whole, it was only a matter of time before the government steps in. And true to form, they're now coming in after the problem has already been in full force for a while, and their "solution" won't take effect until much later anyway. But who wouldn't want to get a tax refund check?

2. I'm pretty much finished with the transition of my other blog, The Milk Crate, to a Wordpress platform. At times it was quite frustrating, but the learning experience was great. This blog will also be making the change shortly, but I'm waiting on a domain name transfer at the moment. Any feedback you have of the new site once it's finished will definitely be welcome. It is, after all, a site for all of you.

3. I've talked about slick marketing before, and I've run across an article on Yahoo about how stores trick you into spending more. The double discount is something I've seen people get fooled by time and time again.

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Building Wealth with CutThatBill

2008-01-18T18:30:00.000-06:00

CutThatBill.com is a blog that focuses on wealth building and other financial topics. It focuses on being creative with your savings and investments as well as providing other online resources. After taking a look at the About page which is his philosophy, I realized that it's very much in line with what we talk about here. We should all have side incomes at least or start some sort of business. And no matter what you do, you should always view yourself as self employed. These are just a few of the things that are mentioned. So as you're looking to build wealth and improve your finances, check out this website for additional tips and information.

An Interesting Perspective

2008-01-17T07:46:00.000-06:00

I was talking with an experienced (older) co-worker yesterday, and he said something that really made me think about things. We were talking about different employees from in the past and the conversation turned to work ethic. He told me about a time when he was in the service and a lot of his peers would complain all the time about different things. One day the commanding officer pulled him into his office and asked him what his secret was. He was a little confused and didn't know exactly what he was being asked.

The officer told him that he had never heard him complaining like a lot of the other guys, and he wanted to know what his secret was. This is what he said:

I've worked the corn fields, I've worked the cotton fields, and I know that I've got a good job here.

He said it all depends on your perspective and many things are relative. I'm not saying that we should always be content with where we are, but we should have a little of this perspective as well and definitely not complain as much.

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Bad Credit Offers

2008-01-17T07:37:00.000-06:00

This is a sponsored post.

If you're credit is less than stellar yet you still need a loan, you're probably going to need to look into what can be referred to as bad credit loans. Perhaps you're looking for a personal loan to help you consolidate things. At BadCreditOffers, you're able to compare many different offers for your situation before making a decision instead of just rushing into the first offer that you find. It's always better to make a more informed decision.

Blogs Under Construction...

2008-01-16T07:31:00.000-06:00

I've been pretty busy the last couple of days because I'm finally making the switch over to the Wordpress platform. I haven't yet started to migrate this blog over, because I've been testing it out with another blog. If you'd like to see my other blog's new design, go check out The Milk Crate.

Hopefully I will be migrating Fiscal Musings shortly, but I want to work out all the kinks with my other blog first. I will be back to the regular daily posting schedule as soon as possible, and hopefully this change will be for the better.

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A Little Bit of Random

2008-01-14T08:19:00.000-06:00

Being a Dallas Cowboys fan, I'm obviously pretty disappointed in the loss yesterday to the New York Giants. I thought the Cowboys were the better team going into the game, but they needed to play the entire game and not just the first half. And what does this have to do with anything financial? Nothing really, unless you had something riding on the game (which I didn't). I guess there's only one more thing to root for this season now, and that's that the Patriots lose to somebody... anybody.

And now on to a few other things that I've been thinking about recently. I've seen a lot of people succumb to what I call financial peer pressure and I would urge you not to pay any attention to it. It doesn't matter what you're friends are doing or buying. You can't let it affect your progress towards your goals. So if you're being pressured to do or buy something that you otherwise wouldn't, don't feel like you have to. It won't really matter in a day or two anyway.

I've also been thinking about all the little ways that we can save money that will really add up over time. The other night we were in the area of a Wal-Mart and needed to pick up some toiletry items and various other things. We found some pretty good prices on a few of the things we needed, and we stocked up so that we wouldn't have to buy them again for a while. We also had some coupons with us so we got extra discounts. It didn't really take any extra effort, but we were able to save quite a bit. And that's what I'm getting at. It doesn't require that much to save money and be frugal. It just needs to be a priority.

I've also been putting in extra hours at work in order to get paid the overtime. Since I'm looking to go back to school, every little bit extra will help. I'm hoping to be able to make it through school without taking on any more student loan debt, and the more that I can pay for myself, the better.

These are some of the things that have been on my mind lately. What's been on yours?

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Northern Trust Estate Settlement Services

2008-01-13T18:11:00.000-06:00

An important part of your financial picture is to make some sort of an estate plan. And with everything that you need to get done, you may want to look into an estate settlement service. Northern Trust wants to do just that for you including locating, protecting and valuing assets, and tax planning and preparation. They can also handle the distribution of property according to your wishes. So, if handling all the affairs of your estate seems a little overwhelming, look into the services that are offered to help you with it. You and your family members may just be glad you did.

Weekend Edition: New Cars and Movie Rentals

2008-01-12T09:02:00.000-06:00

1. Lazy Man and Money writes about choosing between Netflix and Blockbuster for movie rentals. I can see the benefits of having the movies delivered right to my house, but I much prefer to get free movies from Redbox.

2. As you may or may not have already heard, Bank of America is going to buy Countrywide. And there are a lot of opinions about whether it's a good or bad move. But there's an interesting article at CNN Money about a large tax break for Bank of America. Obviously nothing is certain with this deal, but it does look to have some very positive aspects.

3. Not everyone is a car enthusiast, but here are some of the new vehicles to look for at the Detroit Auto Show. Personally, I'm a huge fan of the new corvette ZR1. It's definitely a slick car.

4. Bankrate has put out the Ten Commandments of Personal Finance. All the things on the list are great things, but I'm not a huge fan of making these ten things the very highest priority since everyone's situation is different.

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Spray Powder Shampoo

2008-01-11T17:45:00.000-06:00

I've run across an interesting new product that is available from Salon Grafix. They have a new shampoo out that doesn't require any water. This new Spray Powder Shampoo is supposed to clean and refresh your hair in between normal shampoos or when you are on the go. It is supposed to be easily brushed off and leave no white powder or oil residue.

Sometimes there just isn't enough time or the circumstances don't allow for you to shampoo your hair. I know when I've been out camping or doing some other outdoor activity there isn't much of an opportunity to shampoo. And because of the fact that the product doesn't require any water, you can take it anywhere with you for use in situations where you're time strapped. You could use it after a long day at work when you need to rush off to one of your kids activities. In fact, you could use it anytime that you're rushed and need to get to another event and don't have any time to go home in between to freshen up. They also have different versions of the dry shampoo to match different hair colors, be it black, brown, blonde or even silver.

Savings: A New Order

2008-01-11T07:14:00.000-06:00

I believe that there are two main methods by which people save money, that is if they save any money at all. But one of the ways is definitely better than the other. If you're really serious about saving some money this year and improving your finances, you might want to change the way you approach savings.

Most people get paid at some sort of regular interval and will use the money to take care of necessary expenses, bills, and then for other things that they want. After all this is paid for, they may then save what is left over. While this is one method of saving, it unfortunately leaves money on the table. Our natural tendency is to spend money that we have and we're pretty good at it. If we're waiting to put money away into savings until after we've spent money on everything else, it's highly likely that there won't be much to save.

In order to improve our saving process from what is explained above, we just need to change the order in which we do things. The first thing we need to do after getting paid is to put a certain amount into our savings. Once this has been taken out, we're then free to spend the rest on our bills and other things that we want. By doing it this way you will guarantee a specific savings rate. You will also save more than you otherwise would have because when you run out of money to spend, you'll just have to stop spending it. You will have forced yourself to think ahead and better plan out your spending and expenses.

It's a very simple process to save, yet so many people fail miserably at it. And all you have to do is follow a few simple steps. It really is this simple.

Get paid
Put a percentage into savings
Spend the rest

To get started with this process, just open up a High Yield Savings Account with ING Direct and you can make these simple transfers. This is what I do, so obviously I highly recommend it.

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You Won't Regret Taking Action

2008-01-10T07:29:00.000-06:00

Last night I had a meeting up at my church and the youth were going ice skating that same night. I was invited to come along, and I went since I love to ice skate and have my own ice hockey skates. At first I wasn't sure that I wanted to go and had all sorts of reasons why not like I would be tired from work and would rather just relax at home doing nothing.

I reminded myself though of all the times that I didn't really feel like getting out and doing something yet went anyway. And I've always been glad afterwards that I went and actually did something rather than staying home and doing nothing. So I decided that I would go, and naturally I had a good time and was able to socialize with everyone else who was there.

I was thinking about this because it's a lot like our financial and investing lives. A lot of times we don't really feel like putting in the effort that is required to find or choose good investments. Putting our financial house in order would just take too much time that we'd rather spend sitting in front of the television. However, once you do take the time to, let's say, list out all of your debts and formulate a plan to eliminate them, you're always glad that you did. This is because it usually feels good to accomplish something.

I've also heard a lot of people complain about how complicated it is to invest or that they can never find a good investment. I also know that most of these people have never taken the time to read a book about investing or have never spent any time in search of a good investment. And some things in life require some doing.

For example, I've had a rental property for about a year and a half now, and I've been asked numerous times how I went about the whole thing. I've also listened to many people tell me how they would like to do the same thing but they haven't found anything or haven't gotten around to it. So let me dispel the myth for you... an investment property didn't just fall into my lap, and it won't fall into yours either.

I could tell you of the many hours spent looking at properties with different agents and without agents. I could mention the time spent with a mortgage broker discussing how I could make it happen and what I would need to do. There was also the time I spent with an accountant learning all about the tax implications and benefits. It was a great learning experience, but it took a lot of time. And this doesn't even include all the books I read about real estate investing and the seminar I went to.

So what does all of this have to do with my initial thoughts about going ice skating? The point is to get out do things and make things happen. There will always be time to sit and watch TV, but if there's something that you want to do or accomplish, you just need to get out there and do it. I know you'll be glad you did, and you definitely won't regret it.

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The Best of Fiscal Musings 2007

2008-01-09T07:05:00.000-06:00

I figured it would be appropriate to take a look back at the previous year and highlight some of the most read articles. Obviously this blog wouldn't be much of anything without all of you, the readers. Thanks for making 2007 such a great year.

1. Answering a Reader's Question: This was by far the most read article here over the past year. A reader asked what advice I had for newbies on what to invest in within an IRA. Also, feel free to ask any other questions either in the comments or by email and I'll be sure to get an answer out quickly.

2. Restaurant Lifestyle...?: Coming in second is my discussion about eating out. Apparently we all like to eat out since this struck a chord with so many. I just may have to revisit this topic at some point.

3. Developing a Wealthy Mindset: This is one of my favorite articles, and you ought to read it if you haven't already. If you're really serious about becoming wealthy it's going to take a different mindset that what you may already have.

4. Best of the Roth IRA...: In this article I talk about the advantages of a Roth IRA and why you should have one. They're also not that complicated and pretty easy to set up and get started.

If you've got your own favorite article (from your own blog or wherever), I'd like to hear about it. Just let us know what it is in the comments. We can all stand to learn something new.

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The Real Estate Training Center

2008-01-08T18:58:00.000-06:00

Even with all of the problems we hear about in the real estate industry, it's still a large part of the economy and there is money to be made in it. You may not want to dive into real estate investing, but maybe you've thought about becoming a real estate professional like a realtor or a mortgage broker. If this is something you'd like to do, you'll want to get some training in real estate, and you can get this from The Real Estate Training Center.

They offer training for foreclosures, licensing, 1031 exchanges and much more. If you're already in the real estate business, you can also find information to help you improve and grow your business. Check them out if you have any interest in real estate and want to learn how you can get involved in it.

Focusing on Delayed Gratification

2008-01-08T07:09:00.000-06:00

It's been quite some time since I talked about the concept of delayed gratification, and I figured it was time that I revisit it. It's an important part of the wealthy mindset and something that we all need to work on.

We live in a high consumption society and we're bombarded everyday with advertisements of what we should be and how we can buy/finance it now. There is also a lot of pressure from those around us to spend more money and buy more things. Once you recognize this, you can decide to ignore it and focus on your own goals.

I have also noticed that it's a lot cheaper to get some of the things that I've wanted by waiting and not constantly dwelling on them. As an example, we've been wanting a wireless router for our house so that we could have a more stable internet connection when we're out in the front room (we had been using a neighbor's weak signal). We hadn't bought one since we were technically able to do without. But this Christmas we were fortunate enough to get a router as a gift from my wife's parents. It was great because we got something that we really wanted, and they were able to give us something that they knew we would like.

I have also a Nintendo Wii for quite some time now, pretty much ever since I played one for the first time at a friends house. Again though, we didn't buy one since it wasn't really necessary and didn't fit into our overall financial plan. So guess what my parents decided to get us for Christmas? We didn't have to pay for it and we still got what we were wanting.

Now I know that these are both Christmas examples, and Christmas only comes around once a year. But I have also been able to pick up certain things at extreme discounts just by waiting until I saw them on sale or by some other means. You won't always know by what means you'll be able to get what you're after, and it may be quite some time before you do. Eventually though, you'll be able to get what you want because you were diligent early on with your savings and investments.

Do you have any stories of how you have benefited from delayed gratification? If so, we'd love to hear about them in the comments.

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Improve Your Business with ActionCoach

2008-01-07T17:43:00.000-06:00

More and more people these days are starting or have started their own businesses. Unfortunately many people who have started a business at some point lose some of the passion that they once had for it. If you find yourself in this situation, you might want to look to a business coaching franchise to help you regain your excitement and begin growing the business again. And Action Coach is just such a company that provides business coaching. If you don't already have your own business but would like to, you should also check out the franchise opportunities that they have available.

Learn Something New This Year

2008-01-07T07:51:00.000-06:00

A couple of days ago I talked about starting the new year off right. And one of the possible goals that I mentioned was to learn about investing. This goal could be expanded into learning anything new concerning your finances. You can obviously choose to learn about whatever you'd like, but here are a few topics that you might be interested in learning more about:

Retirement plans and options (401Ks, IRAs, etc.)
Debt management and reduction
Investing in the stock market
Time management and your personal effectiveness
Real estate investing
How to start a new business, or
Choose your own topic...

Whatever it is that you've now chosen to learn more about, it's not going to just happen. You're going to have to put a little effort into it and make something happen. Because everyone learns a little differently, I'm going to make a few different suggestions of how you can accomplish this goal without taking too much more of your already precious time.

One suggestion that I wrote about quite a while ago is to establish Your Mobile University. If you're like most people, you probably spend quite a bit of time in your car whether it's driving to and from work or running the many errands you need to get done. So, instead of just listening to the radio, try putting in an audiobook about the subject you want to learn about. Most libraries carry all sorts of audiobooks, and if they're usually checked out you can most likely reserve them through an online system. I highly recommend this option and have done this myself and really enjoyed it.

Another option for those of you can't stand the thought of silencing the music in your car is to do the same thing while you're doing things around the house. You may as well learn something new while you're vacuuming, doing the dishes, or just organizing and straightening up the house. Either put it on your home stereo or use headphones with your iPod or other such device.

A more boring version of the above would be to check out the actual books and just read them. This won't really save you any time, but you may find that you can concentrate better by focusing only on the one thing. I personally like reading the occasional book but wouldn't only do this option. It may work for you though.

You also don't want to forget about all of the information that is available online. There are so many great resources and personal finance blogs out there, not to mention this one. And over this next year Fiscal Musings will be filled with a lot of great information. Also, if there's something specific you'd like to read about here or learn more about, let me know via email at fiscalmusings@gmail.com or in the comments below.

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Weekend Edition: Back to Work for a Day

2008-01-04T23:49:00.000-06:00

I finally went back to work this last Friday, but even after just one day I was ready for the weekend. So I'll get right to what's up for this weekend edition.

1. Leading the Primaries: This article discusses Iowa and New Hampshire being the first states in the Presidential Primaries and whether they should be. Should these early states really be more influential than any of the other 48?

2. Hope for the Best...: Here's a post from a recent regular reader reminding us about life and the importance of an emergency fund among other things.

3. 25 Reasons to Love Credit Cards: This article is from My Dollar Plan and lists off a bunch of reasons in favor of credit cards. There are some definite benefits to credit cards, but you've also got to be quite careful. Ultimately it's up to you what you think you can handle.

4. Fiscal Musings Throwback: Why I don't buy Mutual Funds explains exactly that. It's not a post telling you that you shouldn't, just some of the reasons why I don't.

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Start the New Year Off Right/Write

2008-01-04T07:55:00.000-06:00

With the start of the new year, many people are intent on their new year's resolutions. You've probably got a few of them, even if they aren't official and written down, or have at least been thinking about a few things you'd like to change. Obviously this blog has a financial slant on these goals, but I hope that you're able to achieve any and all goals that you've set for yourself.

Like I briefly touched on above, you ought to accurately define your goals and write them down so that there's no mistake as to what you're trying to achieve. If you don't define your goals and write them down, a couple of things will happen to them. Eventually you'll forget about them (or just ignore them). You will also continue to change and redefine them over and over usually to make them easier to achieve. It's difficult to attain a goal that's always in flux.

So what are some specific goals that would be good to work on this year? It will be different for everyone since we're all in different places financially, but here are a few suggestions:

1. Pay off/down your debt. If you're making this a goal this year, make sure to attach a specific number to it and a completion date. Don't be vague with this one or it'll never happen.

2. Increase your savings. You'll want to again make this one specific and also make sub-goals to go along with it. Perhaps part of it will include increasing your 401K contributions like was mentioned at Money Ning. You also might want to start automatic transfers into savings or increase the amount if you're already doing this.

3. Develop another income stream. This isn't a goal for everyone, but I know it is for a lot of people. It might come by starting a new business or from an investment, but you'll want to have a date set by which you want to accomplish this. Otherwise it'll just linger out there and never get done.

4. Learn about investing. This is a goal that I think everyone would do well to have. It won't cost you anything except for your time. You can find a wealth of knowledge at the public library and learn about everything from stock market investing, mutual funds, to real estate investing. We'll also be talking about this stuff here at Fiscal Musings so you'll want to make sure and subscribe to the feed.

Whatever your goals are, I wish you the best in attaining them. I'm sure there are also a bunch of you out there that would like to lose some weight and be healthier in general. You should also find some way to quantify these goals and, of course, write them down. It's going to be a great year, and I look forward to making progress with all of you.

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An Interesting Trip Home

2008-01-03T12:57:00.000-06:00

While our trip to visit family this year was great, getting home was a bit of a different story. We had bought round-trip airline tickets to Denver from where we live in St Louis, Missouri. We also drove out to Utah to visit my parents, and getting home from there is where the problem started.

We left Utah at about 11 a.m. on the 30th expecting to arrive back in Denver at about 7 p.m. The first mountain pass we went through was a little snowy and slow going, but we got through it just fine. We got gas about half way and then headed into the mountains again to finish the drive.

As we went up and over the mountain pass, the snow was coming down harder than I've ever seen it and the roads were completely covered and snow packed. I was following a Ford Explorer who was following another truck. All I could see were the tail lights of the Explorer for quite some time. I have no idea how the truck ahead of us could see where he was going, but we just kept following the tail lights.

Before we could get all the way through the mountains however, they closed highway I-70 that we were on and we had to exit in Frisco. With the highway closed, all the hotels were full and there were thousands of people stranded. We promptly filled up with gas again just in case the gas stations would run out at some point. We got on the phone with our parents and found out that our church building in the area was being opened up because there were multiple families stranded in the storm. So we stayed the night in the church and slept on the very hard floor.

The next morning, the highway was still closed so we waited around for another couple of hours. We eventually decided to take a state road south and try to get into Denver by another route. Along the way we ran into another road closure and ended up having to drive to Colorado Springs and then up to Denver.

To make things more interesting, our flight out was at 3:55 p.m that same day. As we were driving up to Denver, our family met us at a gas station with the things we had left at their house and we quickly packed things and headed to the airport. We got there about 40 minutes before the flight and barely made it. Once we were finally home, we definitely appreciated our bed a lot more.

Now, if you're wondering what this has to do with personal finance or anything financial, it doesn't really. It definitely reminded me of a few things that I don't usually think about too much. There are a lot of things that we take for granted and it wouldn't hurt to be prepared for the unexpected.

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LawMax Lawsuit Loans

2008-01-02T21:41:00.000-06:00

This is a sponsored post.

When one business has to sue another business it can be a costly ordeal and put a strain on cash flows. In order to help overcome this, you can get Commercial Lawsuit Funding which is an advance against a pending lawsuit. These loans are made on a non-recourse basis which means you don't have to pay it back if you lose your case. You just need to apply online to see if this is right for you or your business.

Welcome to 2008

2008-01-01T16:50:00.000-06:00

Last night the ball dropped in Times Square bringing the new year with it. Last night I also finally got back home after a rough couple of days that I'll write about later. I'm also still not feeling well which is getting pretty old. But I'm excited for the new year. Looking back on 2007, I've accomplished quite a bit and had a lot of fun.

In 2008, I'm looking forward to what Fiscal Musings has in store. Writing for this blog has been a great experience and I'm excited to continue it. I apologize for the spotty performance recently, but things will return to normal as soon as I feel better. I'd also like to say thanks to all the readers who are sticking with me.

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A Little Under The Weather

2007-12-29T01:55:00.000-06:00

I've been dealing with a cold recently, at first just a sore throat but then also some sinus congestion. It hasn't really kept me from doing most things, but it's been pretty irritating since I'm still visiting family and such. I'm sure I'll be better though by the time I have to go back to work (that's usually the way it works out).

Yesterday we went to see a movie in the morning at the matinee price of $5.50 per ticket. We saw the new National Treasure (after about a half hour of previews) which was entertaining, but not as good as the first one. My parents also paid for the tickets which was nice. After the movie we went and ate at Red Robin which was at the same mall as the movie theater. You might already know that I'm not too big on the restaurant lifestyle, but since my grandma was buying I figured it was alright.

I'm still out in Utah and will be driving back to Colorado on the 30th. We'll then be flying back to St. Louis on the 31st, and I should be able to resume my usual daily posting schedule. I'm looking forward to a great 2008 and hopefully you are as well. So go ahead...

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A Few After Christmas Thoughts

2007-12-26T01:45:00.000-06:00

Well, now that Christmas is over we'll all soon be returning to our normal activities. For most this will mean going back to work (be it soon or in a few days) and saying goodbye to family that doesn't live nearby. Hopefully we all have learned a few things this Christmas season that will carry us into the new year.

Hopefully you've realized that the real important things in our lives are our relationships with those we care about. We obviously talk a lot about money and other such things here at Fiscal Musings, but we shouldn't lose sight of what's really important to us. Let us all remember this throughout 2008.

And now that the gift giving is past, let us also remember to be grateful. Let those around you know that you appreciate their gifts and kind thoughts this season. It will go a long way with most people. And for those of you that aren't saying goodbye yet, be sure to enjoy the rest of your time this holiday season.

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Travel Plans with HotelReservations.com

2007-12-24T20:48:00.000-06:00

During this holiday season or any other time you travel you may need to get Hotel Reservations for a few nights. And this is where HotelReservations.com comes in. You can search for most any destination and find great rates for many different hotels in the area. You can also find car rentals and vacation rentals. So when you're looking to book your next travel arrangements, check them out to see what they can do for you.

This is a sponsored post.

Last Minute Christmas Eve

2007-12-24T10:37:00.000-06:00

With today being Christmas Eve, a lot of people are headed out to do their last minute Christmas shopping. This is all well and good (mostly for the retailers), but there are a few things to remember so you don't "break the bank" as they say.

1. Don't buy something just because it's there. Far too many people scramble at the last minute to buy a gift for someone that they end up buying something they don't really care to give and the person won't care to get. If you don't have a well thought out gift, or the store is out of stock of the item, don't feel bad giving a gift card instead that the person can use to purchase the item later. And with a gift card you can at least limit what you're going to spend.

2. Don't buy another gift for someone you've already bought for. When you're out shopping, stick to your remaining list and forgo the five dollar knick knack that's "just perfect" for Susie. All these little things will add up and the recipient probably won't care about the extra little gifts. You also don't need to buy extra things just so people have more things to open.

3. Just stop shopping and go home. Besides this just saving money, don't forget what the holiday season is all about, spending time with friends and family. If you're too caught up in the shopping frenzy, you'll miss the time that you could have spent at home. Any more shopping that you could do will probably have a marginal impact anyway. So just go home and have a Merry Christmas.

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Weekend Edition: An Update of Goings On

2007-12-22T14:01:00.000-06:00

It's been a couple of days since I've written here because I haven't' had internet access until now. Early Thursday morning (extremely early) we had a flight to Denver to visit my wife's family for Christmas. The flight left St. Louis at about 6am and things have been kind of crazy. I'm hoping to keep posting through the holiday season, but I apologize in advance if I'm not able to make everyday. I won't be home until New Year's Eve since we'll also be going out to Utah for a couple of days after Christmas to see my parents.

As an update to an earlier post, I went ahead and made my second stock purchase with the last of my 2007 Roth IRA contribution. I decided on Jack in the Box (JBX). I've wanted to get something in this industry for a while now, and McDonald's is pretty expensive. I've also been tracking this stock for over a year now and seen it more than double and then go through a stock split. It has recently pulled back though and I thought it would finally be a good time to get in. Jack in the Box also owns the newer Qdoba Mexican Restaurants which seem to be doing quite well and provides a little diversification from just the hamburger business. So we'll see how this one goes.

I wish all of you a merry Christmas (or happy holidays if that be the case) and hope that you enjoy yourself this time of year.

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The Credit Exchange

2007-12-22T13:23:00.000-06:00

This is a sponsored post.

For so many people credit card debt is a constant worry and burden. It often starts out small and gradually builds into an unmanageable sum. Unfortunately, so many people see credit card debt as a normal way of life. It doesn't have to be that way though, you can get credit card relief. The Credit Exchange is not a debt management company, but they are a referral service for customers seeking help with any of their debt needs. They thoroughly review all of their affiliates before making them one of their referral companies. They don't charge for their service, however the referral company may. If you're looking to improve your financial situation and rid yourself of burdensome debt, this may be what you're looking for.

The Government Cares About Personal Finance?

2007-12-19T07:48:00.000-06:00

I stumbled across an interesting website the other day that I thought I would make you aware of. Apparently the government cares about our personal finances at least at some level. I know it's hard to believe, but they've at least put up a website.

At USA.gov they've got a section about Money and Taxes. It covers a variety of topics including:

Currency and the Economy
Federal and State Financial Agencies
Financial Crimes and Scams
Investing
Personal Finance
Sales and Auctions, and
Taxes - Federal and State

The information in these different topics is pretty ordinary. There isn't anything earth shattering or revelatory, but it's an interesting resource to check out. It does however, provide reliable information on some of the most common personal finance topics. Where else would you get better information about government sponsored retirement plans than from the government themselves.

Overall I think the site is worth checking out. You may find a topic that you want to learn more about, and you wouldn't have otherwise thought of it. How else would you learn about the Check 21 Law (I will be very surprised if you know what this is). You can also order a free CD-rom called the Individual Retirement Arrangement (IRA) Resource Guide for Small Business Owners and Individuals (I'll let you try and find this for yourself). Who would have thought? So poke around the site and see what you think.

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Maxing Out My Roth IRA Contributions

2007-12-18T07:14:00.000-06:00

Last week I finally got around to making another deposit into my Roth IRA to max out the contributions for this year. It's been a while since I've talked about this account, so you may want to read The Roth IRA Re-visited, Starting my Roth IRA, and the Best of the Roth IRA if you haven't already. Here's a brief overview though if you're to lazy to read the other posts:

There are no tax benefits in the current year, but the earnings and gains are tax free.
Withdrawals can be made after age 59 1/2
Your contributions can be withdrawn without penalty at any time (they were after tax remember)

Now for what I do with my Roth IRA. Unlike many personal finance writers, I don't opt for the frequent contributions to broad market index funds. I've heard all of the arguments for them, and will admit that they're a great fit for many people. I don't want to dissuade anyone from using them if that's what you want to do. I'm just not into them.

I, on the other hand, prefer to buy individual stocks and assemble my own "mutual fund" if you will. I don't buy and sell very often at all, and I'm definitely not what you would call a day trader. I mostly just buy actually and I very rarely sell. Currently I'm working on assembling a very solid base of large cap stocks with steady dividends. After this foundation is established I will then probably branch out into other areas.

If you read the other posts earlier, you'd know that I have my Roth IRA through Scottrade and they charge $7 per trade. I typically buy in $1K increments which is enough to keep me from making rash decisions and keeps the expense ratio pretty low. This doesn't provide instant diversification, but over time it does and will.

As for my most recent contributions I've already made one purchase and am looking to make another. I decided to add to my position in Bank of America (BAC) since the stock has been hammered lately along with the entire financial sector. I'm pretty sure that they're not going anywhere anytime soon and that they will still be a good company in the future. It also helps that because of the recent sell-off the dividend yield is up over 6 percent.

Like I mentioned before I'm still looking for one more purchase, and I've had my eye on a couple of different companies. I was interested in Jack in the Box (JBX) over a year ago and they have since doubled. I'm still interested, but I'm not sure they're worth quite as much as what they're currently trading for. I would also like to own McDonald's (MCD) but they're also pretty expensive with a P/E ratio of about 41.

I'd like to hear from you though. If you were looking to purchase a stock right now, which one would it be? What would your reasoning be? Hopefully I'll be able to learn something...

I'd also like to give a mention to two new commenters here at Fiscal Musings:

David at Marketing Deviant and
Racer X over at Life, Liberty and the Pursuit of Money

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Finance and Credit at CreditLoan

2007-12-17T21:34:00.000-06:00

Over the years I've had many different experiences with credit and financing. I started out with a Mastercard from Sears since I worked there during school. I then got a rewards card from Citibank since I figured I may as well get a little something back off of my purchases. I have also had an auto loan, multiple mortgages and some student loans. All of these things have given me a decent amount of experience when it comes to different financing options.

If you'd like to learn more about the various types of loans and financing that is available, you can check out CreditLoan which has many different articles on this very subject. The site is well organized and has a great clean look to it. To learn more, just check out their website.

Save Money, Drink Water

2007-12-17T07:21:00.000-06:00

I've been to a few different people's houses recently for various activities, and something struck me the other day. I have noticed all of the beverages that people have available at their houses. There all different kinds of sodas be it Pepsi products, Coke products, or some other brand. There are also all of the different kinds of beer. And then there are those who have to have a glass of wine in the evening or at some other time.

I'm sure it's no secret where I'm going with this. It can't be all that cheap to always have these beverages in the house. Wine can be pretty expensive, especially if you're pretty picky about it. Beer doesn't come cheap either no matter which kind you buy. And the cost of soda can really add up after a while as well.

If you're familiar with David Bach, then I'm sure you've heard of his "Latte Factor", and this isn't really any different. It's just applied to something else. I'm not going to go through all the math of what you could save and how much it would be worth in 40 years (I'm not a big fan of those calculations), but I'm sure it would be significant. I mean, soda alone is about $3 per 12-pack and that can really add up after a while.

So what ever happened to just drinking water? And I'm not talking about bottled water which can also be expensive. It's pretty much free and is probably the most healthy thing for you.

I'm also always amazed when I hear that someone's finances are stretched so thin, yet I see all of the beverages that they absolutely must have. I'm not trying to say that we should never drink some of these things, but I do want to mention that it can be a significant cost to us. You can also save quite a bit on your restaurant bills if you'd order water instead of something else. Just something to keep in mind.

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Weekend Edition: Politics, Giving, Wii and an FMT

2007-12-15T08:17:00.000-06:00

1. With all the politics going on right now, perhaps you'd like to take a look at some of the candidate's finances. CNN Money has a bit called Millionaires in Chief and goes through seven of the candidates. Interesting to know for sure, but the suggestions at the end are kind of useless. They've obviously done rather well for themselves on their own.

2. This time of year a major focus is on giving. An article at MSN Money, however, talks about the financial benefits of giving. Give and Grow Rich mostly covers the issue of tax deductions for charitable contributions. It's one thing to already know this, but another to know the details of what's allowed and what isn't.

3. This Christmas, one gift has certainly garnered most of the attention. I'm speaking here of the Nintendo Wii. And Mrs. Micah goes into a discussion about whether the lack of Wiis will drive demand for other gaming systems. I have to say that I believe it is, but I don't think that Nintendo is intentionally keeping the supply low. An interesting read if you're caught up in the Wii craze.

4. Another Fiscal Musings Throwback (FMT): Way back when, I explained why I don't keep an income statement for myself. I also explain how I handle all my income. The process is simple and doesn't require any budgeting or spreadsheets. It ensures a positive financial future, plain and simple.

And now for a little humour for the weekend. I recently posted a video at The Milk Crate that you may have already seen, but I laugh every time anyway. You can't help but laugh as well because the newscasters just won't stop laughing. Anyway, check it out.

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Welcome New Readers

2007-12-14T17:51:00.000-06:00

I apologize for not having a post up bright and early this morning. I've really been trying to make sure that I've got something new everyday, except on the weekends where I do my Weekend Editions. Unfortunately, I've been a little busy lately didn't have one ready. However, you can be sure there is plenty to come.

I thought I would explain a little about the site for those of you that are new to it (welcome Shoemoney readers by the way). As the title of the blog suggests, I write about pretty much any and everything financial. You can look in the sidebar to find a list of topics, but anything is fair game. I'll cover investing, savings, business and entrepreneurship, debt, financial blunders and much more.

But it's not just about what I want to talk about. I enjoy answering readers questions and looking at opposing viewpoints, because you probably won't always agree with me. If you've got something to say, I invite you say it. There will also be a few sponsored post from time to time, and if these bother you just ignore them (seriously, it's not too hard to scroll past them). They do help to keep the site up and going though.

Also, as I've mentioned before, if you'd like a spot in the Blog List and in an upcoming post, let me know in a comment and I'll check out your site cause I'm always looking.

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Quick Unsecured Loan Process

2007-12-14T15:22:00.000-06:00

If you're looking for an unsecured loan to consolidate debt or start a business, EZUnsecured.com wants to help provide it. They offer a quick and easy process along with fast funding. They want to make it as easy as possible for you to get a Startup Loan if that's what you're after. Check out there site for more information.

Concept of Risk vs. Return

2007-12-13T07:07:00.000-06:00

Anyone who has invested in anything is familiar with the trade-off between risk and return whether you've consciously weighed the options and thought about it or not. Before you've bought into an investment, you've decided that you're able to stomach the risk is hopes of certain returns. And in order to make long term financial progress you need to decide what level of risk you can handle while at the same time remaining comfortable with your investments.

Investment risk can be defined as the chance that an investment's actual return will be different than expected. Risk also means that there is the possibility of losing some, if not all, or your investment. Where there are low levels of uncertainty, there are low potential returns. The opposite is true for high levels of uncertainty.

It is important however, to remember that higher risk does not equal higher returns. Higher risk only gives us the possibility for higher returns. There are also greater potential losses.

While we're on this subject, I think it's also important to bring up the concept of the risk premium. Too many try to balance their risk against the wrong return. If they're going to take a risk in the stock market, they're looking for a return of about %11 percent or so. Now, would you be willing to take the same risk for only 6%? Because this is what you're doing essentially.

Take a look at U.S. Government bonds and what they are paying. Let's say that they're offering a 5% return. Because these types of bonds are virtually risk free, they represent a risk free rate of return. Mutual funds may have losses of -6% one year and gains of 20% the next for an average of around 11%. The difference between the 11% and the 5% is called the risk premium. The risk you take by investing in mutual funds is for the additional 6% return.

Not everyone goes through this type of analysis when they're investing, but the concept is important to understand. You don't want to take on a large amount of risk if there isn't a significant risk premium.

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Another Edition of Slick Marketing

2007-12-12T07:20:00.000-06:00

Back in April I wrote a post about some of the slick marketing techniques that companies will use to try and get your business. I'm not going to say that it's always intentionally misleading, but it can sort of be deceptive at times. Here are a few that I've run across recently:

1. Refinance to save hundreds every month.

I've actually heard this one on the radio quite a bit over the last couple months, and while it can actually be true and financially beneficial, it isn't always. If you refinance to a lower rate it's very possible that you'll save money. Even so, when many people refinance they end up extending the term of the loan since that's the only other way a mortgage company can lower a monthly payment. If you've only got 10 years left on your mortgage and you refinance into a 30 year loan to lower your payment, you may not actually be saving yourself anything. You just need to make sure you understand what you're actually doing and the associated terms.

2. Buy this because I did.

You'll usually see this type of advertising with celebrities. One such example is the American Express ad that has a well known personality who says "...that's why I'm a card member. Are you...?" You'll also see a lot of commercials where normal everyday people endorse a product and tell you why you should as well. I believe it's a great idea to get other's opinions but you've got to make sure that it's objective. When looking into a purchase, just make sure you make an informed decision.

3. Limited Time Offer.

I've heard this one countless times. I've heard it in DVD advertisements and time share sales pitches. This tactic is employed in order to give you a sense of urgency and make you think that if you don't act you'll regret you're decision later when it's too late. If you think about this rationally though, they're still selling time shares and all other products that were once advertised this way. [Note: The only exception I've seen is the Disney Movie Vault.] Don't let yourself be rushed into a decision. There will always be another great deal.

These are only some of the tricks that marketers employ to try and get you to buy something. If you've seen any others, feel free to share them in the comments.

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Buildium Online Property Management Software

2007-12-11T17:36:00.000-06:00

Among other areas of business and personal finance, one of my key interests is real estate investing. And I'm not just talking about buying and selling, or what's more commonly known as flipping. I'm talking about rental real estate as well. Anyone who has dealt with rental real estate either personally or in their job responsibilities knows about all of the different issues that you case with property management. That's why Buildium has developed online property management tools. This software can aid you if you're a landlord, professional property manager, or in charge of a home owner's association. If you're looking for a way to organize your property management efforts, check out their website to see what they have to offer.

Take the Stress Out of the Holidays

2007-12-11T07:16:00.000-06:00

Even though this time of year is supposed to be a joyful time spent with family and friends, it isn't always as relaxing as we all may wish. Unfortunately, the holiday season can sometimes be just as stressful as the rest of the year. And you're supposed to be on vacation. In order to reduce some of your stress this time of year, here are a few tips:

Schedule certain days and times for your holiday shopping and block it out on your calendar. Take with you a list of gifts you want to purchase.
Don't feel obligated to attend every event you're invited to. Limit it to your favorite and most meaningful occasions.
Have the store put together any gifts that require assembly.
Have gifts wrapped at the store or use gift bags.
If you need to ship gifts, look into a delivery service that will pick up your packages at your home.
Use useful items such as shampoo, soap, toothpaste and deodorant as stocking stuffers.
Keep your decorating simple by limiting it to some of your favorites
Tell your children to keep their wish lists to a handful of items. Consider spreading some of the more expensive gifts out through the year for birthdays and such.
Don't put the whole burden of entertaining on yourself. Assign guests to bring certain dishes and desserts.

These are just some of the ways that you can reduce your stress levels this holiday season. I'm sure there are many others. If you've got some other ideas, we'd love to hear about them in the comments.

I have also added two new blogs to the blog list in the sidebar:

If you would like your blog considered for a link in the blog list and a mention in an upcoming post, let me know either in a comment or via email.

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Understanding Your Investments

2007-12-10T07:10:00.000-06:00

When you start to invest or begin looking at your different options of what to invest in, it is paramount that you understand what you're investing in. This concept applies to many aspects of our lives, but here I'm focusing on investing. You've got to understand what you're doing.

There are so many options available to us these days that it can be extremely tough to choose where to put your money. There are full service brokerages, self service brokerages, retirement accounts (both employer sponsored and not), mutual funds, individual stocks, real estate (residential, commercial, etc.) and so much more. If you understand how money is made in each of these investments you can do quite well for yourself. If, however, you're not sure how they work, you can also lose a lot of money.

I'm sure most all of you have seen those late night infomercials telling you how easy it is to make money in something like real estate. And I'm sure there are all sorts of opinions on this subject as well. Well, the truth is that there is both money to be made in real estate and money to be lost. Donald Trump is a typical example of someone who knows how to make money in real estate and you probably know someone who has lost money in real estate. The difference, I submit, is that some understand the game and others don't.

The stock market is another place where some people make money and others lose money. There are people like Warren Buffett and (once again) there are plenty of others who have lost a ton of money in the market. I don't think anyone will dispute that Warren Buffett understands how the market works and how to profit from it. Those who continually lose money in the market probably don't understand it like they should.

So what does all of this mean for us? What should we invest in and how? It may behoove us to step back and instead of wondering what to invest in, decide what we understand or what we want to understand better. If you're interested in the stock market, begin by researching how one makes money in it. Just because you've heard that you can make a lot of money through options trading doesn't mean that you know how to. Someone you know may have made some money by shorting a stock. Does this mean that you should all of a sudden start shorting stocks?

Now, instead of realizing all of the things that you don't understand, take the time time to educate yourself in areas of investing that interest you. Perhaps you can find a mentor of sorts that knows how to do what you want to do. There are also a ton of books at the local library with a wealth of information on various investing topics. It may be time to invest a little time in yourself before you start investing your money.

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Weekend Edition: Taxes, Couples and Friends

2007-12-08T10:56:00.001-06:00

1. With the end of the year (quickly) approaching, you may want to take one more look at your tax situation for 2007. Here's an article from MSN about 10 tax goofs many of us keep making. Also, to reduce your coming tax bill, consider upping your 401K contributions on your last paycheck or two.

2. A big issue among many young people and in general is how to combine your finances when you're a couple. U.S. News and World Report put out an article dealing with His and Her Accountability. It talks mostly about the benefits of having separate finances at least on some level. While I'm not a proponent of that way of handling things, I don't mind at least hearing another point of view.

3. Being friendly may not just make you feel good, but it may also pay great dividends in the end. At least that's what one couple found out when their friend passed away. They were left $20 million in her will. The family of the deceased wasn't very happy, and they appealed in court. But hey, maybe if they had been nicer and kept in better contact... sometimes the nice guy doesn't have to finish last.

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The Difference Between Broke and Poor

2007-12-07T18:02:00.000-06:00

Oftentimes when people are struggling financially it affects them emotionally as well. They will often refer to themselves as being poor, or have that label applied by others. While you may view this as a discussion of semantics, I think there is value in the distinction.

Dictionary.com defines poor as the following:

1. having little or no money, goods, or other means of support
2. Law. dependent upon charity or public support

When viewed in light of this definition, there aren't really that many people that can consider themselves truly poor. If you're in debt and are struggling to pay your bills, it doesn't really make you poor. There are still things that you have to be grateful for, such as a job that allows you to support yourself and all of your possessions even though you may not view them as plentiful.

Broke on the other hand means that you're "lacking funds". This is usually more of a temporary situation or something that can more easily be overcome. You may be broke until you get your next paycheck, but that doesn't mean that you're necessarily poor.

The reason I'm going into this is because of those among us who actually are "poor". There are those who are unable to support themselves and are definitely less fortunate than most of the rest of us. Instead of falsely lumping ourselves in this category with them, we ought to take some time to count the many blessings and privledges that we do in fact enjoy. And especially at this time of year, it would be a nice gesture to help someone in need who may "actually" fall into the poor category.

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Use of Credit Cards

2007-12-07T17:36:00.000-06:00

More and more often you'll hear advertisements on television and radio from mortgage companies wanting you to refinance your home and consolidate debt that you may have on credit cards. They'll even tell you to refinance and pull out money to use for your holiday shopping instead of using your credit cards. In the midst of all this however, credit cards may be getting a bad rap. After all, when used responsibly, they can be great tools. You can find 0% balance transfer credit cards or even 0% credit cards if you shop around for the right card that fits your specific needs. As long as you stay up with your accounts and the current offers you have with them you could actually benefit from their use.

Try No Debt this Holiday Season

2007-12-06T07:13:00.000-06:00

I heard an ad on the radio the other day wanting to help us (the consumer that is) out this holiday season. It said that we should leave our credit cards home and not run them up this year. Instead they were advertising their mortgage company and offering their refinance options to give you the cash you "need" this time of year.

I'm not exactly sure why someone would find this logical and think it's a viable "solution" to their holiday cash flow problems, but I have to assume that some people are actually taken in by this or else companies would stop making advertisements like this. Whether you're borrowing money from your credit card or borrowing money through a mortgage, it's still borrowed money that puts you further in debt than you were before.

If you want to change your future financial outlook, you're going to have to stop making the same mistakes. Stop buying things that you can't truly afford. You need to stop trying to hold up your house of cards and maintain an image that everything's OK. Who cares what others will think of you? There's no need to impress others this holiday season with the extent of your credit limits.

Maybe it's time to get back to what the holiday season is all about. Try refocusing on the people (family and friends) that make this time of year special instead of the gifts. And who knows, maybe you'll end up enjoying the season more without a mountain of debt hanging over your shoulders.

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Mystery Shopping Solutions from BestMark

2007-12-05T20:02:00.000-06:00

There's a problem that many businesses face every day, and that is how to find out what their customers really think and what type of experience they have. You have probably seen the customer comment cards at different businesses and are aware of how infrequently they get filled out. People will usually only take the time when they are upset about something and want to be heard. It's difficult, however, to get objective feedback from your customers.

As an answer to this problem, BestMark offers secret shopping solutions. Their unique mystery shopping and customer survey programs will allow you to gather specific information about your customers experience so that you can improve your organization. Check them out to see if their solutions would be a fit for your organization.

Accepted to Grad School and more

2007-12-05T07:20:00.000-06:00

I finally heard from Arizona State University about my application to their full-time MBA program. There was some issue with FedEx getting me the packet which I won't go into, but it finally arrived. Now for what the letter had to say:

I was accepted to the program for next fall
They lowered the tuition for me by about half.
I have a graduate assistantship working 10 hours per week.
I have also been given the maximum cash award per year.

So all in all it's a pretty good deal. As far as tuition and expenses are concerned, I think it'll probably cost about $5,400 for the two year program. Obviously there are living expenses and such, but it's good to know that school is pretty much paid for.

Now for a few links that are worth checking out.
Living Below Your Means...?: A little different take on this often quoted advice.
Developing a Wealthy Mindset: It's probably not going to happen for you unless you do.
Reasons I like Real Estate: Even in the current market these reasons still apply.

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Money Mistakes/Regrets

2007-12-04T07:12:00.000-06:00

There is a lot we can learn from the past and especially our own past. Unfortunately, many people don't take the time to look back and see what lessons they could learn. We've all made mistakes, but we're bound to repeat them if we don't understand the mistake and learn what we can do not to make it again. The following are some of the money mistakes that I've made in the past.

1. Not paying attention to credit card spending. Back in college I would go out to eat or to the movies and spend money a little here and a little there. It wasn't ever a great deal of money all at one time, but it would all end up by the time the bill came. I remember going over the bill once and seeing all of the money I spent on food and entertainment in one month. It was my first lesson that the small things really do add up.

2. Making too high of a first offer. When purchasing a house I had the first offer accepted immediately even though it was below the asking price. I'm sure that I could have picked it up at a cheaper price, but I'll never know for how much since I didn't make a low enough offer. I've learned that the worst that's going to happen when making an offer is that they'll say no. And in this instance you're not really out anything. Don't start too high or else you'll never really know how much you could have gotten it for.

3. Letting peer pressure make me spend money. Too often I've spent more money than I've wanted to because I didn't want to disappoint friends or family. If you don't want to go out to eat or to some expensive form of entertainment, don't feel bad about saying no or suggesting something else. It's not worth putting your financial future in jeopardy because you didn't want to speak up.

4. Buying a "great deal" on impulse. I used to work for a couple of retail companies and would therefore have access to some really great closeout or clearance deals. Most of the time I didn't really need what I was buying, but the deal seemed too good to pass up. I've since learned that the best deal that costs the least is not buying the item at all. Even when something is 50% off, you still have to pay the other 50%.

These are some of the money mistakes that I've made in the past. I'm sure there are many others, but this is what comes to mind at the moment. I'm sure that you've also made some mistakes along the way and have learned something from them. Let us know what they are so that we all can learn from them.

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Overstock.com Giveaway Promotional Contest

2007-12-03T20:01:00.000-06:00

As you're well aware, the holiday season is fast approaching and people are busily preparing everything for family to visit as well as purchasing gifts. Since gift giving is one of the main focuses of this time of year, Overstock.com is launching a huge promotion called the All I want for Christmas Giveaway. In order to participate, you need to register at their site between December 3rd and the 7th and you could win gifts for you and five of your closest friends all valued at up to $1,000 each. It's also possible to win the Grand Prize of five gifts worth up to $5,000 each. If I were to win, I'd probably share the gifts with my brothers and some of my closest friends that I keep in touch with from college.

To register, you just need to provide your name, email, address and phone number. You then pick the gift that you want and then tell your friends about it. I would probably go for a new High Definition television, but you can choose whatever you want from their huge inventory. It couldn't really be simpler and who knows, you just might win. And here is their brief promotional video:

Updating My Blog List in the Sidebar

2007-12-03T07:03:00.000-06:00

It's been a while since I've updated my Blog List here in the sidebar. Some of the blogs that are currently listed have become more or less dormant, and I want the list to contain quality blogs that are updated regularly. This way I can ensure that what I'm endorsing for my readers might actually interest them and be worth reading. And in order to accomplish this I'm going to need your help in one of two ways.

1. If you would like your blog to be featured here on Fiscal Musings in the Blog List, leave a comment to this post with your blog's URL linked to your name or included in the comment. You can also email it to me (email address is top right in the sidebar) if that's what you'd prefer.

2. I would also like to hear about some of your favorite blogs that aren't necessarily your own. If you don't have your own blog, let me know what blogs you think ought to be included here. Keep in mind that the blogs don't necessarily have to be personal finance related.

Once I have all of your inputs and have compiled the new Blog List, I will do a follow up post linking to all of the blogs. And now, since I'm on the subject, I'll give a shameless plug to the other blog that I run, The Milk Crate, which is an opinion blog covering all sorts of topics. You may also want to subscribe to The Milk Crate.

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Weekend Edition: Facebook and Wii

2007-12-01T13:30:00.000-06:00

1. The social networking site Facebook is pulling its ad campaign. Apparently Facebook is able to track your online purchases and would then post them in your profile. Users were complaining because they didn't want everyone knowing what it was they were purchasing, especially as we enter the holiday season. It probably wasn't the best idea, but I don't think that it'll be the end of Facebook.

2. Are you among the thousands of consumers that are looking for a Wii? You're definitely not alone in this one; Nintendo is again having trouble keeping up with the intense demand. It seems that they've tapped a consumer base far larger than the usual gaming circles. I wouldn't be so concerned about this, but I'm looking for one as well. My parents want to get me one for Christmas, and they've enlisted my help to try and find one.

3. MoneyNing discusses what individual investors should do with all of the current fear in the market. He recognizes the different types of investors and comments on each kind. An interesting read for any investor.

4. Fiscal Musings Throwback (FMT): Too often, people worry about what percentage of their income to save or invest. And instead of saving something to begin with you wait until you figure out what percentage is the "best". It's an interesting phenomenon, but I'll let you just read the article.

And if you've made it this far, here's a little random humour for the weekend. It's Abbott and Costello's famous Who's on First routine.

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Veteran's Affair Research Center

2007-12-01T13:14:00.000-06:00

There has been so much talk recently about the mortgage industry and the real estate industry that it may seem like overkill. For certain individuals, however, there is an opportunity that will help you weather the storm. I'm talking about getting a VA home loan. This is the Veteran's Affair loan program, and in order to get one of these loans you'll need to check to see if you're eligible since you'll have to provide a Certificate of Eligibility from the VA. If this program sounds like something that you'd be interested in and would qualify for, check out these links to find out more information.

This is a sponsored post.

Status of My MBA Applications

2007-11-30T06:39:00.000-06:00

After taking the GMAT back in August, I have been researching the many different schools and subsequently working on the applications. The process is quite involved, and applying to each university is a unique process. So here is the progress to date.

The first application I submitted was To Arizona State University since it had the earliest deadline for their first round of admissions. Once the application was in, an admissions officer took me to lunch since she was out here for a conference and conducted an interview. This took about 2 hours and I was then informed that she wanted to finish the interview with a current student and that she would call me the next week to set up a phone interview. This next interview lasted about 45 minutes and now I am just waiting on a response.

I next submitted my application to the University of Texas at Austin. Shortly thereafter, I was contacted by email to set up a time to conduct an interview either on campus or off. Since I live quite a ways from Austin, I opted for an off-campus interview to be conducted by an alumnus in my area. I met him downtown and the interview lasted about an hour. Now the complete application will go to the admissions committee for their decision and I am again just waiting for a response.

My third application is in at Ohio State University. I have only recently been contacted about an interview and have scheduled a phone interview in about a week and a half. This should be the last step in the process and then I'll have to wait on a decision from them as well.

Hopefully I'll hear something soon from these schools as I've been working on this since the end of August. It has however, been quite the learning experience. If you are also thinking of going for an MBA and you have any questions about the application process or anything else, feel free to contact me. I'll be glad to help with anything I can.

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Much Ado About Gift Cards

2007-11-29T06:33:00.000-06:00

I was watching CNBC the other day at a friends house (I don't have cable) and they were making a big deal about gift cards, discussing the pros and cons. I'm not going to regurgitate their conversation here, but I will offer my own thoughts on the subject.

First off, I'll start with some of the negatives. Some gift cards will come with different fees associated with them. Among these are fees to purchase the card as well as possible inactivity fees. These aren't typical fees for most cards, but will usually be associated with gift cards purchased from credit card companies and cards for a certain mall or shopping center. Standard gift cards for a single store usually don't have these conditions. The other negative with gift cards is that they can potentially expire. If they aren't used within a certain period of time, the recipient will lose the ability to redeem them.

Now for the positives. While some people would actually prefer to receive cash as a gift, it's not generally considered an acceptable gift in our society. Gift cards are a great way to compromise in this area. You can gift a certain dollar amount and still let the person pick out something for themselves. As far as the recipient is concerned, they're then able to use the card as cash at a place that they assumably regularly visit.

Whatever your personal thoughts are on this subject, we ought to realize that they're just a gift from someone. We should be grateful that they thought enough of us to get us a gift instead of scrutinizing their "gift-giving etiquette". And if you're worried about whether you'll be looked down upon for giving a gift card, you ought to reevaluate who you choose to associate with. Just have a happy holiday season and enjoy whatever gift exchange that occurs.

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Tax Brackets Explained

2007-11-28T07:00:00.000-06:00

Even though most everyone with an income pays taxes, not everyone has heard of tax brackets. And just because someone has heard of them, doesn't mean that they understand them. Hopefully I'll be able to clear up some of the confusion on the subject.

As explained by Wikipedia, Tax brackets are the divisions at which tax rates change in a progressive tax system. Different levels of income are taxed at different rates. This is why you may have heard people say that getting a raise has bumped them into a higher tax bracket. This, however, is the source of most confusion since people think they will be getting taxed more on their income, and this is only partially true.

The tax bracket you are in is the rate that you pay on the last dollar that you earn. It is not the rate at which all of your income is taxed. Therefore, you really shouldn't ever be worried about moving into a higher tax bracket. In order to fully understand how it works though, it's best to see an example. We'll use the tax rates for the case of married filing jointly.

The first $15,650 is taxed at 10%. Any income over this amount up to $63,700 is taxed at 15%. Any income over this and up to $128,500 is taxed at 25%. It works the same as you move up through the tax brackets.

So, let's say that you and your wife earn a combined income of $150,000. The tax that you are responsible for is $24,972.50 plus 28% of the amount over $128,500 which is $6,020 for a grand total of $30,992.50. This works out to a tax rate of approximately 20.7% which is significantly lower than the 28% tax bracket that you would be in.

As you can see, the actual tax rate that someone pays will be different than the tax bracket that they are in. Essentially everyone will pay their own effective tax rate based on their level of income. Just remember that this only applies to the Federal Income Tax rates. Their is also Social Security payments and state and local taxes which must also be factored in to determine your total tax bill.

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