Thoughts on Recent Gas Prices
I started driving in the Summer of 1981. Then, State law allowed for a Permit. After driving with a parent for a month, we could attempt our Restricted License examination. This enabled us to drive during daylight hours until we turned 16.
I didn’t really pay much attention to gas prices then. There always seemed to be something else to occupy my mind.
I think it was my senior year in high school (1984) when gasoline broke the $1/gallon barrier. I remember my parents were in shock. They could remember when gas was 35 cents! I remember filling my car up one day, wondering if I would someday tell my children how I could remember cheap gas. Full Story »
To Buy, or not to Buy…What Should You Do?
Being a bit of combined history and financial buff, I regularly read MSN Money and MarketWatch. I also browse a few personal finance blogs.
I hadn’t planned an article on this topic. For me, being a long-term investor, the question is redundant. However, it seems to come up everywhere. Many times the answers are a little disappointing. Sometimes they’re even a little scary. Full Story »
Educate Yourself on Personal Finance
While reading posts last night on ChristianPF.com, I remembered a paperback book my soon-to-be “ex” bought during our final year together. It’s entitled “God’s Promises-Your Finances.” There is no author listed. It was published by Family Christian Press in Grand Rapids, MI. I believe this was part of a series.
I tried to find it on the FCP site. Apparently it’s out of print. For anyone interested, the ISBN is 1-58334-332-6.
The book quotes numerous verses in the Bible for financial advice. It has a very nice supportive tone. I read it during some of my darker days at the beginning of our divorce. Facing financial ruin…again…I really had no idea how I would manage to survive. This $2.97 book, along with reading the Bible and prayer, certainly helped. Full Story »
Concentrate Your Financial Resources to Reduce Debt
Many of us go through the monthly battle of the bills. We try to precariously balance our income with expenses. Even making only the minimum monthly payment can be hard. Sometimes we have money left over. Sometimes we don’t.
To reduce debt, we must find a way to concentrate our limited financial resources. What’s even more challenging it finding a way to actually do that while keeping our other debtors satisfied. There are essentially two trains of thought on just where to concentrate your resources. Full Story »
Student Loan Forgiveness
Do you have a large outstanding Student Loan that you’d like to have forgiven? Great news! In 2007, Congress passed a law enabling Student Loan forgiveness for certain public service fields. Being highly in debt to a Student Loan in a traditionally low-income career may finally pay off!
When I graduated in 2002, my student loan balance was around $20,000. Given my salary of around $35,000, the Student Loan was a large amount of debt. Six years later, that balance has only dropped to about $15,000. Although my salary has increased about 19%, that still accounts for a large portion of my total debt. Full Story »
A Simple Rule for Asset Allocation
Most first-time investors, especially small investors like me, can be overwhelmed by the options for investing. Not only are there thousands of investment options, the lingo may be confusing.
Because of this, many people shy away from investing, even in their 401(k) for their own retirement. Or, they invest without really knowing some of the ground rules. Here’s a brief explanation on the major asset classes and an easy rule for asset allocation within these classes. Full Story »
Monopoly Strategies
As I mentioned, I was intrigued watching the video on MSN Money of how a 7 year-old beats her financial whiz father at “Monopoly.” My older boys were also interested in the story. After spending much of the past weekend playing the game, along with some internet research, I’ve come up with a few answers and strategies of my own.
In the video, Jubak’s daughter always bought (and developed) two specific color groups. The explanation was that these two CG’s offer the best ROI on the board. True, but only part of the story. Besides, I had to see just HOW I could’ve missed this over the years I’ve enjoyed this board game. Full Story »
Deeper into this Whole Monopoly Thing
We spent part of the weekend playing Monopoly. My boys were intrigued when I told them the story of the 7 year-old daughter beating her financial whiz father…repeatedly. My daughters love to play their version (Monopoly Jr.), too!
I also spent a little time researching Monopoly strategies. Even though I shouldn’t be, I was amazed at the information out there on this 70+ year old game. Studies…statistical and probability analyses…computer simulations. Wow, these make Jubak’s ROI comparisons look kinda weak! Full Story »
Potentially the Worse Financial Advice…Ever
I first heard this advice YEARS ago when I first joined my organization. I was in my early 20’s and didn’t know much better. It did seem odd; I just didn’t understand why.
This advice didn’t come from just one person. It was general advice from most of our senior people. Some were in positions of management. Some weren’t.
Today, our new people basically hear the same advice. That is, if they hear any advice at all. The advice concerns utilizing our 401(k) program. “Put your money in there and forget about it. It’ll be there when you retire.” Full Story »
How Does a 7 year-old Beat a Financial Expert at Monopoly?
You remember the game, “Monopoly.” I can remember untold hours spent playing this game as a child. Sometimes I won. Sometimes not. Obviously, I never figured out what this 7 year old has.
I loved to be the car. Even at a young age, I could see that what gamepiece I was had little to do with my success on the board. Which properties I bought seemed to be the key. Yet, I could never really figure out which ones were the “best.”
Now that I have children of my own, I play Monopoly with them. My younger daughters have an age-appropriate version. Not surprisingly, my 4 year old daughter usually beats me, along with the older children. Full Story »