money

Can’t get ahead? Try a “savings challenge.”

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th(I’ve decided to re-publish articles now and again in honor of what the kids call Throwback Thursday. Given that some of us can expect higher-than-usual credit card bills in January, these savings options might help.)

Years ago I moderated MSN Money’s Smart Spending message board, on which people would post frugal hacks, recipes and other tips to stretch a buck.

The boards went away some years before the Smart Spending blog did; when that happened, some of the most loyal commenters created an alternative universe.

“Not MSN Money Proboards” is a place for veterans of Smart Spending and other message boards to stay in touch and keep sharing the wealth. Or, rather, the road to wealth. (Edited to add: The Not MSN Money Proboards has morphed into something called Your Money and More, which includes money, lifestyle and other board options.)

One post I checked in on today, “2014 Savings Strategies,” brought up the old custom of “savings challenges.” Those were popular during the worst of the recent recession; you couldn’t swing a virtual cat in the PF blogosphere without running into someone’s post on challenges.

Stuff like:

  • Spare Change Challenge – Every night put all your coins in a jar
  • Dollar Bill Challenge – Like the above, except with paper instead of specie
  • Five-Dollar Bill Challenge – Pretty ambitious, but a little too rich for some bloods
  • Random Number Challenge – Pick a number and every night check the bills in your wallet; if one has a serial number ending in the chosen digit, into the jar it goes

But the Proboards posting also mentioned a couple of new ones.

 

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A life-changing holiday gift: Personal finance books.

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th(Note: This is an update of an article that ran in 2016, with some new books to go along with ones I feel confident re-recommending.)

Some people are into experiences rather than gifts. Physical presents take up space and need to be dusted, whereas a massage or a theater ticket is a one-and-done event.

I suggest that a personal finance book is both a gift and an experience. Sure, it takes up a little space – but it can lead to life-altering changes and literal enrichment. And if you get the Kindle or PDF version, it doesn’t take up any room in your domicile.

When you give the gift of personal finance, you’re giving people tools that can get them out of current money troubles and/or help them build the lives they want. Doesn’t that beat the heck out of a scented candle or a cheese log?

 

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Your governor earns HOW much?!?

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Had I been asked which state hands the biggest salary to its head honcho, I’d have assumed California or New York.

In which case I’d have been wrong, as I learned while researching “What the governor gets paid in every state,” my latest piece on Money Talks News.

Learned some other interesting stuff, too, such as the fact that one governor’s wife worked as a summertime waitress to save up for a car and that another governor credits his mad budget-balancing abilities to his super-frugal mother, a widow who washed and re-used not just aluminum foil but also wax paper and plastic wrap.

And nope, I’m not going to say which governor earns top dollar. You’ll have to go read the article to find out.

 

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Alaska Permanent Fund: Capped, but still producing.

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I’m $1,100 richer today. So are a lot of other Alaskans: The Alaska Permanent Fund will distribute about $672 million to residents young and old.

Even toddlers will get that $1,100 direct deposit or check. That blows minds in the Lower 48, but it seems totally normal here.

It was supposed to have been more; one recent estimate was about $2,300. But this is the second year in a row that Gov. Bill Walker capped the Permanent Fund dividend, resulting in some serious outcry from eligible recipients.

There’s a reason for that. According to a study from the University of Alaska’s Institute for Social and Economic Research, the PFD has traditionally lifted 15,000 to 25,000 Alaska residents out of poverty. The study also noted that reducing the check by $1,000 would likely send 12,000 to 15,000 more Alaskans down below the poverty line.

The annual payout is particularly important in rural Alaska: Without it, more than 20 percent of Bush residents would fall below the federal poverty threshold. I believe it, given the high cost of living out there. (Hint: If you think you pay too much for milk in your city, imagine forking over $10 a gallon.)

 

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‘The secrets of super savers,’ revealed.

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Think coupons aren’t worth it? Not if you’re doing them right – and it doesn’t have to eat up hours of your life. A new book from the authors of the Living On The Cheap website shows why.

“The Ultimate Guide to Coupons: How to Save More Money in Less Time and Get The Best Deals” shares what authors Teresa Mears and Laura Daily call the “secrets of super savers.”

Specifically, “the smart way to use coupons, investing just minutes to save dollars.” They’ve produced a book that stays true to the LOTC mission: to help people live their best lives without breaking the bank.

 

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Sign up now for a free summit on women and money.

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Kelly Gushue’s mother wasn’t taught anything about money. A divorce left her penniless, with children to raise. One of the things she preached to her daughter was financial independence.

Gushue is now a money coach with her own company, Personal Finance Warrior. “I believe that every woman has the ability to invest, actively manage her personal finances and increase her wealth,” she says.

“Increasing your wealth means increasing your power.”

That’s the topic of her upcoming money summit. “Claim your financial power: How to shift your mindset, take action and increase your wealth,” starts Monday, Oct. 2. It’s free, and it’s online; you don’t have to travel, or even to sign in at a specific time.

Instead, you’ll get a video every day for 21 days, featuring interviews on the topic of women and money. The money experts, business owners and media thought leaders interviewed are all women themselves.

Among those experts:

 

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“Your Money, Live!”: An event for YOU at FinCon17.

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The night before the 2016 Financial Blogger Conference began, members of the public were invited to a free program called “The Money Meetup.” This evening of short inspirational speeches plus a meet-and-greet with personal finance folks was very well received. I hoped that this would become an annual event.

Conference founder Phil Taylor has expanded the public reception into an eight-hour event called “Your Money, Live!” It will take place beginning at 1 p.m. Friday, Oct. 27 at the Sheraton Dallas Hotel – during FinCon17, rather than the night before.

In other words, you’ll probably run into a lot of people whose work you read and/or listen to regularly. (Including me, I hope.)

“Your Money, Live!” attendees can attend their choice of four workshops (more on that in a minute), listen to money experts (including keynote speaker David Bach), and attend the Ignite FinCon event, which is TEDx style speaking followed by a networking party where you can meet personal finance writers, bloggers and podcasters.

 

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Credit or debit? Here’s what consumers say.

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Recently the NerdWallet blog did a survey of more than 2,000 adults in the United States with regard to their use of plastic. Turns out that younger people prefer debit to credit.

The findings didn’t surprise me. But they did concern me.

Without credit use, you can’t build a good credit history. Without a good credit history, you will likely pay more interest than those without decent credit scores – that is, if you can get a loan at all.

This probably isn’t something people want to hear right after the Equifax data breach. But it’s something they need to know.

 

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Credit myths, plus a chance to win “Playbook Vol. 2.”

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Pop quiz! True or false:

Closing a credit card always decreases your credit score.

It is possible to lock all of your credit reports at once.

Utility payments are always included in credit scores.

Marital status affects your credit report.

Checking your credit score has an impact on your credit report.

If you said “false” to all of these, then you’re ahead of a bunch of your fellow citizens. Anywhere from 31 to 51 percent of those surveyed didn’t know that, according to a new study from TransUnion.

Want to learn a little more? Check out my guest post on I Pick Up Pennies. It’s an excerpt from “Your Playbook For Tough Times, Vol. 2: Needs And Wants Edition” – and if you act soon, you might win a copy.

 

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5 personal finance lessons from ‘Alien: Covenant.’

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I saw “Alien: Covenant” and it succeeded in what I think were its twin purposes: to creep me out and to make me think.

And, maybe, to get me out of my own head. Nothing like a chest-burster to make you feel better about your reasonably good health.

But seriously, the film is restrained (albeit super-gory at times) and full not just of dread, but of a surprising undercurrent of mournfulness.

What’s the meaning of life? What makes us human? Why do the people we love leave us? Can a synthetic human ever become a real boy?

And, of course: How can I make the viewing of this film into a work expense?

 

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