financial reflections

Note:  I first wrote this article in 2006.  It’s interesting to see what’s happened in the mean time.  The much-hyped  exotic loans have caused a collapse in the credit industry. Here’s an update to what I wrote back then.  It’s sad to see how things have ended up slightly worse than what I predicted.  Here’s the toll silly lending has taken:

Read the rest of this entry »

I’ve been keeping a home budget for several months now, and it’s great.  I’ve gotten my spending under better control, paid off some debt and moved forward financially.  However, I also have noticed problems I have with my budget.  I’ve noticed “leaks” in my budget - places where money seeps out.  I also want to ratchet up my debt elimination plan so I keep to my goals for the year.  In order to do that, I’m trying out a software budgeting system.  It offers a free trial, so I’m going to take the month I and do a multi-part review.  This is part one.

Read the rest of this entry »

Normally I don’t write articles like this, but I found a neat way to introduce my kids to investing, or at least find a great gift for my investor friends and family, so I thought I’d share the find with everyone.

Read the rest of this entry »

I’m talking about plastic money - credit cards.  A new twist on this is the use of debit cards in games.  Of course, marketers and game makers are always looking for ways to mix advertising into a game.  Just look at the multiple editions of Monopoly that exist, such as university branded games.  But is it right to add plastic money to a game children will play?

Read the rest of this entry »

A lot has been said about how the US economy is doing better lately.  Sure, since about 2003, I’ve noticed a huge change in the economy on a personal level.  The reason for that is that I work on contract, for about a year at a time at different companies, so the short term swings in the economy have a huge effect on my weekly paychecks.  Here’s what I’ve noticed…

Read the rest of this entry »

As the summer winds down, I thought it might be prudent to post the things I’ve learned about taking a vacation.  I’ve battled with the decision to take one at all, as I am taking what I can to eliminate credit card debt.  I worked with my wife to come up with a plan that will let us get away - without putting us further in the hole.

Read the rest of this entry »

Sometimes it’s the mistakes we make that teach us the most.  I just read an article from someone who made a small fortune out of a much larger fortune, and the lessons the author learned from his experience provide some powerful lessons on investing.  I thought I’d comment on them and add a few of my own lessons.

Read the rest of this entry »

Recently I wrote an article stating my plans to avoid purchasing a HDTV for some time.  Well, part of my reasoning looks like it’s slipping away, due to the forces of supply and demand.  And it might be partly due to people agreeing with me.

Read the rest of this entry »

Here it is: my very first festival or carnival of any kind.  Heaven knows I need help being frugal, so I am looking forward to drawing wisdom from the following entries:

Read the rest of this entry »

I just canceled another one of my credit cards this week.  It had a zero balance, but I just kept it around.  That was partly out of laziness and partly out of a warped sense of security.  The good news is that I’m running out of cards.  What scares me is that I have a very small emergency fund, and have an feeling that I should hang onto a few cards “just in case.”  What changed my mind was the annual fee the card charged, and it got me thinking about all the other “fees” consumers face.  (warning, rant follows)

Read the rest of this entry »