Moneysmartz Personal Finance Guide and Blog

The Real World and Your Credit Score

Tue, 21 Oct 2008 18:05:17 -0600

Have you ever thought about how a low credit score could take money out of your pocket? The bad news is that there are many ways a low credit score can hurt your personal finances. According to myFICO, a low credit score will result in much higher mortgage payments. For a $300,000 30-year fixed rate mortgage, the difference between a very low and very high credit score is almost $900 a month in cold, hard cash. That's real money and real life if you are in the credit score doghouse.

The good news is that you can do a lot to improve your credit score. First, learn as much as possible about your credit score. myFico's credit education center offers tips, advice, and information. Next, get your credit report and FICO score. You can contact one of the credit reporting agencies for a free report (Equifax, Experian, TransUnion) or a service that monitors your credit for a fee. Be sure to correct errors on your credit report. myFico offers tips and advice to help to correct these errors. Finally, start paying bills on time and stop moving debt around. myFico offers a list of tips for improving your credit score.

By taking action and getting help, you can get out of the credit doghouse and look forward to lower payments on essentials like a home mortgage and less debt.

Garage Sale Tips

Sat, 10 May 2008 08:46:21 -0600

Spring is finally here, your house is full of clutter, and you are looking for a few extra dollars to pay for the rising cost of gas. If you are willing to invest some sweat equity, then a garage sale is a great way to clean and get some green. Before getting started with your garage sale, visit the Yardsalequeen.com for common sense tips and more links. Wondering how to price your items? Visit Your Garage Sale Source for pricing ideas. Try Craigslist to find and advertise your garage sale. For example, if you live in Denver, visit Google, type keywords "craigslist Denver garage sale," and click "I'm feeling lucky" to view the Craigslist Denver garage sale classifieds page. In addition, many local newspapers host garage sale pages with maps and information, so try Google keyword search "your city garage sales." Finally, if you are pressed for time or feeling charitable, find a local Goodwill to donate your stuff.

The Forever Stamp

Thu, 01 May 2008 05:01:19 -0600

Until the introduction of the Forever stamp last year, the frequent rise in the price of United States Postal Service (USPS) first-class postage presented an annoying dilemma for those left with unused and under priced stamps, waste money by combining two one-ounce first-class stamps or buy smaller denomination stamps to use with the now under priced first-class stamps.

Thanks to a little USPS creativity, the dilemma can be avoided through a Forever stamp, postage purchased today that is good for mailing "one-ounce first-class letters anytime in the future -- regardless of price changes."

With another penny price hike set for May 12, raising the price of a first-class stamp to 42 cents, we are faced with another, more pleasant dilemma. Stock up on the 41-cent Forever stamp today, and save a penny, or wait and buy a 42-cent Forever stamp on or after May 12. Regardless of your decision, the Forever stamp will probably save you a few pennies and make your life a little easier. To purchase stamps online, visit The Postal Store.

GasBuddy

Wed, 30 Apr 2008 05:13:01 -0600

Looking for a friend to help you find the cheapest gas in town? GasBuddy.com, a network of over 180 gas price websites, will help you find low gas prices in your neighborhood.

Since gasoline prices frequently change and may vary by as much as a quarter a gallon within a few blocks, it's beneficial to know where to find the lowest prices. The GasBuddy network, powered by local websites, allows motorists to post gas price information.

To get a bird's eye view on gas prices in your area, visit the color-coded map on the home page. Drill down by clicking the map to find the best deals.

As gas prices continue to rise, it is good to know you have a friend working 24/7 to help you find low gas prices.

Going Green Update

Tue, 22 Apr 2008 06:18:49 -0600

If you think it's too much effort to fill your recycle container with paper, plastic, and cans, then stop reading. If you already recycle, even reluctantly, then keep reading. Going green requires some effort and a little pain, but the upside can be big, for both your financial situation and the environment. The newly created Moneysmartz Going Green category is all about helping your green transformation put real dollars in your pocket. The best place to start is your home, so be sure to visit Energy Star, an Editor Best Bet, and a place where you learn about how to save money and protect the environment through energy efficient products and practices. Another Editor Best Bet, Frugalist, offers tips, tools, and tutorials to help you save a "boatload of money." The Moneysmartz Going Green category also includes information about socially responsible investments, tools to help you measure your ecological footprint, and a lot more help saving money. If you are still reading, then take the time to learn a little more and do even more good for yourself and the environment.

Feed The Pig

Sun, 20 Apr 2008 10:02:25 -0600

Benjamin Bankes has a lot to say to young Americans about taking baby savings steps today for big savings in the future. Who is Benjamin Bankes? He is the spokespig, imaginary of course, for the Feed the Pig™ national public service campaign sponsored by The Advertising Council and the American Institute of Certified Public Accountants. Through commercials and a website, the campaign is encouraging "the 40 million Americans age 25 to 34 to take control of their personal finances." The commercials are offbeat and the website offers podcasts, calendars, tips, and resources to help individuals begin paying off debt and start preparing for a better future.

GreenPrint

Sat, 19 Apr 2008 06:23:44 -0600

Are you drowning in paper? Is your trash can full of unused remnants of paper from recent print jobs? Have you ever wondered if there is a way to reduce the waste? GreenPrint, a Moneysmartz Best of the Web selection, saves money and helps the environment by preventing waste pages from being printed. According to the GreenPrint website, its product "analyzes the content of each print job for pages that have wasteful characteristics. These are the pages with just a banner ad, URL footnote etc. It also allows you to very quickly add and remove pages from your print job, without having to return to the original application." It's a sleek and simple solution to an insidious problem for prolific printers. GreenPrint offers a free trial and a $29 license for a direct download. Enterprises pay $70. Best of all, GreenPrint saves a lot of trees, while saving you money.

Coinstar

Thu, 10 Apr 2008 06:34:22 -0600

How much is your pocket change worth? If you have a money jar, then you know that pocket change adds up fast. The challenge for many is where to bring the change to convert into cash.

Fortunately, Coinstar, the top brand in consumer coin counting, invented self-service coin counting and has locations throughout the United States, Canada, and United Kingdom.

If you want hard cash from a Coinstar machine, you'll pay a commission. To stretch your pennies and avoid a commission use Coinstar for gift certificates at leading stores like Amazon.com, Starbucks, iTunes, and many more.

Coinstar has a charity option where you can donate your change by keying the unique identification number of your charity and pouring your coins into the machine. When Coinstar finishes counting, you will receive a tax-deductible receipt.

To locate a machine near you, visit the Coinstar locator page.

Coupons and Online Deals

Mon, 07 Apr 2008 08:06:40 -0600

With higher gas prices, lower home values, and a weak stock market, now is a good time to find ways to cut costs. Coupons offer a quick and easy way to begin saving money today. For grocery coupons and online deals, visit CoolSavings, SmartSource, and Valpak. For a complete list, visit the Moneysmartz Coupons page.

Expensr

Tue, 26 Feb 2008 21:04:17 -0600

Tracking income and expenses is a cornerstone of effective financial management. Unfortunately, as evidenced by a woefully low savings rate, many Americans are struggling to make sense of their spending. If you are not willing to invest the time and money to buy a more comprehensive financial management tool like Quicken, then Expensr offers a quick, free, and easy toe in the water to track your daily spending. Throw in a few social networking tools and Expensr has the makings of a painless point of entry into the often mundane and tedious world of personal penny pinching.

Rainy Day Savings

Thu, 01 Mar 2007 16:34:00 -0600

A recent post in The Red Tape Chronicles highlighted the fact that many Americans do not have an emergency fund to cover about 3- to 6-months of living expenses.

So, if you don't have enough socked away in your rainy day fund, then what can you do?

First, don't panic, you can start saving today and in less than a year you'll be much better prepared.

Next, and this is hard to do, try to pay yourself first. Set aside a small amount every month before spending or investing. We are notoriously bad about taking action in this way, so continue reading.

Liz Pulliam Weston, an MSN personal finance columnist recommends getting a line of credit from your bank. If you do this, then be careful to avoid using the line to pay for non-emergency expenses. Otherwise, you'll only dig a deeper hole.

By taking a few simple steps, you'll be thankful when the rain starts to pour.

Debt and Bankruptcy Moneynavigator

Tue, 10 Oct 2006 12:21:19 -0600

Are you trying to cope with unexpected financial setbacks and possibly considering filing for bankruptcy or consolidating your debt? Use the Debt and Bankruptcy Moneynavigator to learn bankruptcy and debt management basics, find bankruptcy lawyers and credit counselors, consolidate your debt, get a free credit report, or join a debt and bankruptcy support group. The Debt and Bankruptcy Moneynavigator highlights best of category sources of debt and bankruptcy services and information.

Adult ADD and Money

Wed, 15 Feb 2006 09:10:36 -0600

Site Name: Adult ADD and Money Blog
Description: Information and friendly advice on business and money management for any adult with Atttention Deficit Discorder (ADD)/Attention Deficit Hyperactivity Disorder (ADHD).
Personal Finance Category: Money Management
Born on Date: January 2006
Content: Original
Unique Features: ADD Teleclasses and listing of ADD websites.
Distinctions: Only blog of its kind, focusing on ADD and money.
Profile of Blog Author: John MacKenzie consults Entrepreneurs with ADD / ADHD, helping them deal with ADD / ADHD issues hindering their success. He is also the assistant director of ADDClasses.com. He received his Bachelor's Degree in Business Administration from Northeastern University and his MBA from the University of Massachusetts Boston.
Other Links to Adult Add and Money in Moneysmartz: Money Management Blogs Directory.
Bottom Line: Managing money successfully is hard enough, so for those with ADD/ADHD this resource provides a new perspective and assistance on making better financial decisions.

More about New and Notable Personal Finance Sites

Sound Money Tips

Mon, 13 Feb 2006 23:54:14 -0600

Site Name: Sound Money Tips Blog
Description: One quick personal finance tip every day. Credit cards, banking, investing, insurance, mortgages, frugal living and online shopping.
Personal Finance Category: Money Management
Born on Date: December 2004
Content: Original
Unique Features: One personal finance tip a day.
Distinctions: It's parent, Seeking Alpha, has many, including recent recognition by Forbes and The Wall Street Journal
Profile of Blog Author: Living in Jerusalem with his wife and three children, Michael Weinstein, a University of Michigan Alum, is a financial journalist and online content specialist who has worked within emerging tech companies and as a marketing/financing consultant.
Other Links to Sound Money Tips in Moneysmartz: Money Management Blogs Directory.
Bottom Line: A tip a day keeps bankruptcy away.

More about New and Notable Personal Finance Sites

Frugal for Life

Mon, 06 Feb 2006 10:30:59 -0600

With a recent spate of articles about America’s declining savings rate, now may be the time to find ways to save money. Frugal for Life, dedicated to simple, frugal living, provides observations and experiences on the frugal, simple life and a collection of links to related frugal living sites, including blogs, forums, and free classifieds. Frugal for Life reflects the blogging trend of “monetization” with an assortment of Google ad links. Because of intuitive placement and relevance to frugality and simple living, advertisements generally enhance the site. If you are looking for complete frugality immersion, then check out the Frugal for Life newsletter archive. With soothing graphics, easy navigation, and fresh content, five minutes with Frugal for Life may jump start your savings and lead to a simpler life.