My Personal Finance Journey

Vote for My Vanguard Vs. Fidelity Post Today at The Free Money Finance March Madness Tournament – Round 3

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Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
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Click here to enter my free giveaway for 5 copies of H&R Block At Home Premium Edition

Folks!!!!! I really need your help! My Vanguard vs. Fidelity post (from August, 2010) is in Round 3 of Free Money Finance’s March Madness Tournament.

I’m up against Crystal from Budgeting in the Fun Stuff (one of my good friends and a very good blogger! – both of us are Yakezie members!!! Go Yakezie!), so I need everyone out there’s votes by tomorrow morning (Friday, March 18) in order to advance.

To vote for my article, click on the link below, scroll down to the comments section, and enter the word, “Better.”

Free Money Finance March Madness Tournament Round 3 – Vanguard vs. Fidelity Post vs. How to Make Money Blogging

Thanks so much for your support!

    ***Photo courtesy of http://blogs.agu.org/martianchronicles/files/2010/11/vote-button.jpg

    Five Signs You’re Not Managing Your Money Well

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    Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
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    Click here to enter my free giveaway for 4 copies of H&R Block At Home Premium Edition

    The following is a guest post. Enjoy! 

    Five Signs You’re Not Managing Your Money Well
    Denial is a funny thing. It makes us deceive ourselves so that we are protected from a difficult truth. In a way, it’s self-preservation – but when it comes to money problems, denial is a dangerous.
    Not being honest with yourself about your money can perpetuate the problems you have, so sometimes it takes an outsider to point out the problems you are trying to ignore.
    With that in mind, here are five signs that you aren’t managing your money as carefully as you could be, and what you can do to turn the situation around.
    1) You’re paying off your credit card debts, but the balance isn’t going down.
    If you’re battling to pay off a credit card, but the balance seems to stay roughly the same no matter how much you pay, then you need to look at some options to clear the debt quicker.
    Chances are; the rate of interest carried by the card is not very competitive. You might want to look transferring the balance to a card with a more competitive rate so you can pay it off quicker.
    It might seem counter-intuitive to take on another credit card, but in the long run it’ll see you better off. You can compare credit cards, their rates and benefits online to make sure you get the best deal for your circumstances.
    2) You panic when met with an unexpected expense.
    If an expense you hadn’t accounted for sends you into full-tilt panic mode because you don’t know how you are going to afford to it, then you aren’t managing your money wisely.
    Imagine your car suffers a major fault and you have to take it off the road for repairs. Do you have money in savings for just such an occasion? You should have!
    Some experts advise having the equivalent of three-six months’ salary in an emergency savings account to help you pay for things like this. What’s worse: being a little out of pocket each month to pay into savings, or massively out of pocket when you have to pay for something big out of monthly pay check?
    3) You worry about special occasions. 
    Birthdays, weddings and holidays should be a source of joy and something we want to spend our money on. If you feel like a special occasion could tip you off the financial tight-rope you are walking, then you’re not managing your money well.
    Of course a savings account could help pay for these kinds of things, but planning ahead is also helpful. If you need to buy a birthday present in June, start thinking about it in March or April, so you can spread the cost.
    4) You can’t have the things you want.
    You can’t always have everything you want, and sometimes the things you think you want, you don’t actually need, but if you work hard for your money you deserve to treat yourself once in a while.
    Not being able to get the things you want takes one of the little joys out of life, and if you manage your money a bit more carefully, you’ll be able to afford them.
    5) You feel guilty when you do spend.
    Some of us beat ourselves up more than others when we indulge ourselves, and if you know that you can’t really afford to buy something then the burden of guilt can feel even greater.
    Managing your money more carefully with proper budgeting, savings and savvy spending can help to put you in a less guilt-ridden position.

    How about you all? Are you managing your money as well as you want to be? If not, have you ever felt any of these signs? 


    Share your experiences by commenting below!

    Jacob’s Thoughts – Listed below are my random thoughts as I was reading this article.

    • @ Taking on another credit card for a low interest rate balance transfer – Another good idea to try to reduce your credit card interest rate is to simply call your credit card company and ask for a reduced interest rate.
    • @ Planning for spending involved with special occasions – If I know that certain expenses will be incurred throughout the year, I set up automatic transfers from my checking account to savings account so that I make sure to have the required amounts when needed.

    ***Photo courtesy of http://pbskids.org/itsmylife/images/managing_money1.gif

    Announcing the Winner of the $25 Amazon Gift Card Giveaway – "Cheapskates Need Love Too Edition"

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    Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
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    Click here to enter my free giveaway for 5 copies of H&R Block At Home Premium Edition

    A little over three weeks ago on February 14th, My Personal Finance Journey announced a $25 Amazon gift card giveaway to commemorate the beginning of the new, Cheapskate Jake’s Frugal Ramblin’s Series. You can read the first two posts in the series by clicking the links below.


    This giveaway was sponsored by Barb Friedberg at Barbara Friedberg Personal Finance, and in order to enter in to the running for the grand prize, the entrants were asked to share a story about the biggest cheapskate they know in their life. I was definitely blown away by all of the good stories that were entered!

    And, thanks to our two judges (Sandy @ Yes, I Am Cheap and Crystal @ Budgeting In The Fun Stuff), yesterday, we were able to crown our winner of the $25 Amazon Gift Card.

    The winner was Liz, who received a perfect 10/10 score from the judges with the awesome story shown below. The second and third place entries are shown below as well! Enjoy!


    First Place


    I knew someone whose dad was extremely cheap. They had a septic tank at home, so it cost money to have it emptied periodically. The dad was so cheap that he used to admonish his son if he had to… ahem… move his bowels at home! He’d actually yell at him about how he should only use the bathroom at school for his costlier eliminatory functions! It probably goes without saying, but I forgot to mention that the dad also rationed everyone’s toilet paper!


    Second Place – In second place, with a score of 9/10, was Lauren, who brought us the story below.


    My friend’s mom told us that once she went into her local hardware store, she takes the giant, cylindrical paper towel roll inside the paper towel dispenser and puts it in her purse so she didn’t have to buy paper towels.  Also, rather than squirting toothpaste on her toothbrush, she “dips” the top bristles of her toothpaste into the hole and scraps a little bit out.  Finally, instead of buying my friend one of our $7 homecoming t-shirts, she went to a craft store and got a white t-shirt for 2 bucks and wrote “Go Panthers!” on it with a sharpie


    Third Place – In third place, with a score of 7/10, was Mom’s Plan, who brought us the story below. 


    I had a friend in grad school who was so cheap he would only go out to eat during Applebee’s happy hour and then he would order the 1/2 price appetizers. He did this whether going out with friends or going out on a date. Also, if he went dancing with a girl at a club and it was lady’s night so the woman got in free, he would make her pay half of his entrance fee.


    You can read the rest of the entries by clicking this link.


    Thanks so much to everyone out there who participated by sharing their cheapskate stories, reading, judging, or sponsoring this contest! It sure was fun to put on! I will definitely do something similar in the future.


    Jacob

      ***Photo courtesy of http://rainbowonlineshop.net/images/rainbow_pot_of%20gold.gif

      Best of Credit Cards and Money Carnival – Shocking Credit Card Factoids Edition – March 9th, 2011

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      Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
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      Click here to enter my free giveaway for 5 copies of H&R Block At Home Premium Edition

      Welcome to the March 9th, 2011 edition of the Best of Credit Cards and Money Carnival.

      The goal of this carnival is to highlight articles each week that provide a unique view of credit cards, credit scores, and personal finance that can help people manage their money.

      The theme of this edition of the carnival is interesting facts/statistic about the use of credit cards. Prior to signing up for one of the great credit card offers listed in some of this week’s articles, it is important to know as much about what you are getting yourself in to as possible. Enjoy!


      Listed below are the top 3 articles of this week’s carnival!

      Top 3 Editor’s Picks

      1. Suba presents Credit card benefits : Insurance, extended warranty, shopping and more posted at Wealth Informatics, saying, “Credit card benefits range from Auto rental collision damage waiver, Travel & Emergency Assistance, Travel Accident Insurance, warranty, and price protection”

      2. Control your Cash presents Us 1, American Express 0 | Control Your Cash: Making Money Make Sense posted at Control Your Cash, saying, “A helpful rule in your economic life is to think about every transaction from the other party’s perspective. In this case, look at the handsome annuity that your credit card balance becomes in the eyes of the card issuer.”

      3.  Michael presents Citi® Dividend Platinum Select® Card $100 Cash Back posted at Consumerism Commentary, saying, “The Citi Dividend Platinum Select Card offers $100 cash back, a great intro period AND up to 5% cash back on purchases. One of the best overall credit cards in the market today.”

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      Credit Card Factoid # 1 and # 2

      1. In 2010, the US census bureau is reporting that U.S.citizens have over $886 billion in credit card debt and that figure is expected to rise to $1.177 trillion this year. More specifically, the report states that each card holder has an average credit card debt of$5,100 and this number is projected to reach $6,500 by the end of the year. 
      2. Statistics of a recent Consumer Reports survey:

        • One-third of Americans do not own a credit card.
        • 54% pay their balance in full each month
        • 33% carry balances up to $10,000 (median balance: $2,254)
        • 13% carry balances over $10,000 (median balance: $17,366)
        • 21% of consumers said they were treated unfairly by card companies and 32%have paid off and closed a card since January 2008. Half of those that canceled did so in direct response to the actions of credit-card issuers, such as cutting limits, hiking rates, or imposing fees.
        • 45% of survey respondents say they are charging less
        • 11% are charging more than they did a year ago

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      And, listed below are the rest of this week’s submissions. 
       

      Credit Card Reviews

      Jeff Weber presents Citi Platinum Mastercard Review posted at Smart Balance Transfers, saying, “An overview of who can benefit from the Citi Platinum Select card and who would be better off with a different credit card.”

      Michael Pruser presents Citi® Hilton HHonors™ Visa Signature® Card 4 Nights FREE Promo posted at The Dough Roller, saying, “The Citi Hilton Card is perfect for the avid traveler who wants to enjoy their off time.”

      CreditCardGuru presents Discover Card Benefits Explained posted at credit card forum [the blog], saying, “Here is a review of the benefits that are included on Discover credit cards. Some benefits are unique, while others are just average and found on most credit cards these days.”

      RC presents New Southwest Airlines Rapid Rewards Plus Visa- 20,000 Bonus Points Offer-Review posted at Think Your Way to Wealth, saying, “A look at the new Southwest Rapid Rewards Visa, which offers points based on the new Rapid Rewards program.”

      Sun presents Southwest Airlines Rapid Rewards Plus Credit Card 20,000 Points Promotion posted at The Sun’s Financial Diary.

      Tim Chen presents NerdWallet’s Best Balance Transfers Spring 2011 Edition posted at NerdWallet Blog – Credit Card Watch, saying, “Balance transfers can be a great tool for people carrying a substantial amount of credit card debt. It’s not all free money though – you have to be aware of the fine print.”

       

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      Credit Card Factoid # 3 and #4
       3. Around the U.S.:

        • Highest state average credit card debt:
          • Alaska at $7,665
          • Tennessee at $7,054
          • Nevada at $6,517.
        • Lowest state average credit card debt:
          • Iowa at $4,247
          • North Dakota at $4,417
          • South Dakota at $4,633
        • The steepest increases in average credit card debt over the previous quarter:
          • District of Columbia +6.3%
          • Tennessee +2.7%
          • Alaska +2.5%
        • The largest drop in average credit card debt over the previous quarter:
          • Hawaii -2.7%
          • Utah -2.6%
          • Nevada -2.4%

      4. The average American household’s credit card debt in 1990 was $2,966. In 2007 it was$9,840.
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      Credit Card Tips

      Christien presents How Much Does Credit Card Processing Cost? posted at How Much Does Everything Cost?.

      Janet presents What Would You Buy on a $27,000 Shopping Spree with 46 Credit Cards? posted at Credit Cards Canada, saying, “What if you had 46 credit cards and a $27,000 shopping list? What would do? Before your cards were flagged you were busted for fraud, of course.”

       

      Debt Management

      CardWisdom presents Chase Blueprint Review posted at Credit Card Wisdom, saying, “Tips on how you can use Chase Blueprint to better manage expenses and credit card debt.”

      Ryan @ MFN presents What Credit Score Do You Need to Refinance a VA Loan? posted at The Military Wallet, saying, “The VA Loan has minimum credit score requirements to be eligible for to refinance your loan. This article covers the basics of VA Loan refinancing and your credit score.”

      Julie Mayfield presents How to Find the Money to Pay Off Your Debt posted at The Family CEO.

       

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      Credit Card Factoid # 5 and #6
      5. U.S households will receive approximately 5.3 billion offers for new credit cards in 2007

      6. At least one in ten consumers have more than 10 credit cards in their wallets. However the overall average number of credit cards per consumer is 4.

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      Money Tips

      Jessica presents Hidden Money: How to Find Miscellaneous Fees posted at MomVesting, saying, “If you like to find money, identify those hidden fees. “

      Brandon Rowe presents Best Savings Account Interest Rates posted at Bro Money, saying, “A chart of the highest savings rates along with a Firefox add-on to track savings rates”

      Boomer presents Contrary Financial Decisions posted at Boomer & Echo, saying, “There are some instances where it makes sense to follow your own judgment or instincts rather than take the “accepted” or common route.”

      Miranda presents Are You Paying Too Much Attention to Financial Media? posted at Personal Dividends – Money+Lifestyle, saying, “As more people have access to more money possibilities, media outlets have rushed in to provide advice. But are you doing yourself more harm than good when you pay too much attention to financial media?”


      Well – that concludes this edition. Next week, the Carnival of Credit Cards and Money will be returning to Card Wisdom. Submit your article for inclusion in the upcoming edition by clicking the following link – Submit your article to the Best of Credit Cards and Money Carnival.

        ***Photo courtesy of http://www.chathamjournal.com/weekly/moxiepix/a3746.jpg
        ***Credit card factoids source – http://www.hoffmanbrinker.com/credit-card-debt-statistics.html

        Credit Card Help: Top 3 Credit Card Mistakes to Avoid

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        Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
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        Interested in receiving a free $25 Amazon gift card? Click here to sign up for my Cheapskate Jake “Cheapskates Need Love Too” giveaway! Or, click here to enter my free giveaway for 5 copies of H&R Block At Home Premium Edition


        The following is a guest post from Ade with Credit Cards.org

        Credit Card Help: Top 3 Credit Card Mistakes to Avoid



        Credit cards are the norm nowadays. Because of the convenience, more and more people carry around plastic instead of cash. However, not all people know the full responsibilities of having a credit card.

        Mishandling and lack of knowledge could easily lead to debt. There are small details and loopholes all credit card holders should consider. In this article, we’ll tackle some of the most basic mistakes first-time credit card holders make.

        Mistake 1: Not reading the contract and fine print.

        Before even considering getting a credit card from a certain company, you should ensure that you know all of your options, so you can pick the best one from the bunch. This will depend entirely on how much you can afford, and how frequently you can make payments.

        Picking a credit card with a wrong interest rate could prove to be disastrous for your finances. This is what makes reading the contract, along with the fine print very important. Further, you might want to look out for other details such as grace periods and grounds for hiking up the interest rates. This way, if you don’t like certain terms, you can either renegotiate the contract or go to another service provider. It’s best to take care and read the small details before you make a decision, so you won’t have any regrets later.


        Mistake 2: Being late for the credit card payment.

        Making the deadline for payment is probably one of the most useful disciplines you should master. A payment past due could mean hefty fines. It also lowers your credit score, and appears on the history. Small details like this could damage your credit score and record permanently. Also, some credit card companies can hike up your interest rates based on a late payment. You won’t just have to pay a fine; you’ll have to pay a much heavier price for the rest of the loan. And the worst part is, it also affects your capability to get a loan. Pay on time and you won’t have a problem with these issues.

        Mistake 3: Falling for credit card deals with rebates, rewards, and high interest rates.

        Some people have the notion that if they have rebates and rewards, they can offset their losses when they’re paying the interest for their credit cards. This works sometimes, when your interest rates aren’t that high.

        However, most of the time, these too-good-to-be-true offers really don’t give you as much of a discount, because essentially you’re paying for your rewards with the interest rate the credit card company’s getting. Sometimes, you’ll even have a higher interest rate than what you could normally get for a regular offer. Just because something is free doesn’t mean it’s cheap. These deals are only profitable when you travel frequently and you can exchange your rewards for some mileage. Otherwise, you’ll really have to look at the small details. If the interest rate is too high for your budget, don’t think you’ll be able to get the money back because of the free rewards.

        How about you all? What mistakes have you made with credit cards? 


        Share your experiences by commenting below!

        Jacob’s Thoughts – Listed below are my random thoughts as I was reading this article.

        • @Being late on credit card payment – You can now reduce the frequency that this occurs to you by setting up an automatic payment plan with your credit card company’s online user interface. It is easy, free, and will save you a lot of money!
        • @Falling for credit card deals with rewards, etc – There is a definitely a trade off that exists between getting lower APRs (interest rates), cash back/point rewards, and sign up bonuses. Perhaps nothing exemplifies this better than the Discover Build Your Own Card feature. By increasing the amount of the bonus offer you get for signing up for a card, you actually increase the APR that you will receive! Interesting stuff!

        ***Photo courtesy of http://www.hotelmarketingstrategies.com/wp-content/uploads/2009/10/mistake.gif

        Totally Money Blog Carnival # 9 – Funny Baby Videos Edition – March 7th, 2011

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        Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
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        Interested in receiving a free $25 Amazon gift card? Click here to sign up for my Cheapskate Jake “Cheapskates Need Love Too” giveaway! Or, click here to enter my free giveaway for 5 copies of H&R Block At Home Premium Edition

        Welcome personal finance fans to the 9th edition of the Totally Money Blog Carnival, a weekly carnival that includes the top personal finance and money posts.


        Today, I was watching the movie, Juno on DVD. If you haven’t seen it, it is a very good movie about a teenage girl that gets pregnant and all of the details that she has to handle that go along with the results. 


        Since this movie was on my mind while putting together this carnival, the theme for today’s Totally Money Carnival is funny baby videos!  I sent my girlfriend on the mission of finding these videos, so I can’t take credit for how awesome they are! Enjoy. 


        Listed below are the top 3 articles of this week’s submissions!


        Top 3 Editor’s Picks

        1. JT McGee presents Today I Solve Student Debt Forever posted at MoneyMamba, saying, “Could a small change to the FASFA means big changes in college graduate debt loads?” 


        2. Mike Piper presents Picking Mutual Funds: Don’t Just Look at the Winners posted at The Oblivious Investor, saying, “When researching mutual funds, many investors only look for characteristics common among winning funds. But that’s only half the picture.”


        3. My Journey presents Save Money by Having a Child posted at My Journey to Millions, saying, “Raising a child can be expensive. However, I have found in the two months after my child’s birth that my wife and I have actually saved money, not spent more.”

        This baby has the cutest laugh ever…. 🙂

        And, listed below are the best of the rest!

        BUDGETING


        Jason Price presents YNAB (You Need a Budget) iPhone App Review posted at One Money Design, saying, “The YNAB iPhone app is a great complement to the popular YNAB 3 money management software.”

        Careers

        The Wise Squirrel presents Glory over Money: Mike Bibby Walks Away from a $6.2 Million Salary posted at Squirrelers, saying, “Would you give away a guaranteed $6.2 million dollar salary? Someone just did!”

        liverealnow presents How to Deal with Debt While You’re Out of a Job posted at Live Real, Now, saying, “Fighting debt and unemployment at the same time sucks.”

        Credit

        Christien presents How Much Does Credit Card Processing Cost? posted at How Much Does Everything Cost?.

        Sustainable PF presents Age Ain’t Nuthin’ But A Credit Card Number | Sustainable Personal Finance posted at Sustainable Personal Finance, saying, “Depending where you are in your life your credit card needs will vary.”

        Jeffrey Weber presents 4 Reasons Retail Credit Cards Are a Bad Idea posted at Credit Card Wisdom, saying, “Retail credit cards are simply a bad idea in most cases. They encourage overspending (and increasing debt) while charging sky high interest rates and adding yet another bill to worry about every month.”

        Economy

        Control your Cash presents Your mutual fund is battling back posted at Control Your Cash, saying, “How does today’s Dow Jones Industrial Average compare to, say, the Dow of February 1997?”

        2 Cents presents The Financial Sector: Capitalist Bastion or Corrupt Oligarchy? posted at Balance Junkie, saying, “William Black makes the case that the financial sector is far too large and influential and that it actually does more harm than good to our economy.”

        Finance

        Bryan Vieregge presents 12 Ways To Make Some Extra Money – Money Bold – Money Bold posted at Money Bold.

        Paul Foley presents Training at Night posted at Life and Times Living with In-Laws, saying, “Applying the Training at Night method to personal Finance”

        Boomer presents Ways To Earn Investment Income: Part Two posted at Boomer & Echo, saying, “In part one of this two part series I showed you how you can earn investment income from GIC’s and Bonds. Now let’s take a look at several additional ways that you can earn investment income.”

        Barb Friedberg presents How Preconceived Ideas Can Cost You posted at Barbara Friedberg Personal Finance, saying, “Many many folks believe that what you drive and wear is a measure of wealth. If someone is driving a BMW or Mercedes and wearing designer clothes, then they are wealthy. The Millionaire Next Door slams that theory down! In fact, frequently, those with ostentacious signs of external wealth carry high debt levels and tally a low net worth!”

        Dividend Growth Investor presents Dividend Champions – The Best List for Dividend Investors posted at Dividend Growth Investor, saying, “The dividend champions list is by far the most comprehensive list of dividend growth stocks available for free. It breaks down the dividend growth universe into dividend champions, dividend contenders and dividend challengers.”

        I love how the camera operators in these videos are Dads…haha

        Frugality

        Money Beagle presents Are Internet Coupons The Future Or On Their Way Out? posted at Money Beagle, saying, “Printable coupons from the internet seem to be gaining steam, but some of the problems could put a halt to them.”

        BWL presents Creating A Church Website… And Doing it Cheap posted at Christian Personal Finance, saying, “Gone are the days of having to spend thousands of dollars to create a website. Here are a couple ways you can create your church website for a lot less…”

        Save Few Bucks presents How to Save Money on Airplane Ticket posted at Save Few Bucks, saying, “Airtarvel is pretty common for work as well as vacation, so here are some tips to help you save money when buying a airplane ticket.

        Eliza from Happy Simple Living presents Make Your Own Homemade Greek Yogurt posted at Happy Simple Living, saying, “You can save over 50% off the cost of yogurt by making your own, and this post has complete directions and photos. Yogurt is highly nutritious, and the process for making it from scratch is very easy.”

        Money Management

        Janet Russell presents Inferior Mutual Fund Performance | No Load Mutual Funds | Best No Load Mutual Funds posted at Best No Load Funds, saying, “The investment research literature does provide some modest evidence that substantially inferior past mutual fund performance is more likely to lead to inferior mutual fund returns in the future. Excessive costs and high management expense ratios are the likely culprits, when explaining sub-par diversified investment fund returns.”

        101 Centavos presents Random Thoughts on Money posted at 101 Centavos.

        Ryan @ MFN presents The Case for Automating your Finances posted at The Military Wallet, saying, “This articles makes the case for automating your finances to save time, money, and headaches. It is based on a missed credit card payment I had that occurred when I was relocating to a new state. The problem would not have happened if I had automated this account.”

        Saving

        BIFS presents 10 Tips to Reduce Healthcare Expenses posted at Budgeting In the Fun Stuff, saying, “Healthcare is one of the biggest expenses in life. Here are some ways to reduce it’s impact on #1”

        Jim Yih presents Enough Bull: The bull about GICs posted at Retire Happy Blog, saying, “I know a lot of advisors who are exceptional and sell GICs because it is the right thing to do even though they do not pay a lot. I also know some advisors who won’t touch GICs mainly due to compensation.”

        Moneyedup presents Saving for Retirement with Extra Income posted at MoneyedUP, saying, “One of the most important foundations of your financial future is saving for retirement.”

        Babies tasting lemons for the first time. I think I still look like that when I eat one! 

        Spending

        vh presents AMEX Windfall…Disappointing and Not Disappointing posted at Funny about Money, saying, “This year’s annual kickback from American Express was pallid compared to previous windfalls, but it reflected success at cutting back the spending.”

        Taxes

        Ken presents Earned Income Credit (EIC): Meet the IRS Version of Welfare posted at Spruce Up Your Finances, saying, “Allows you to receive as much as $5,666 in refund money even if you do not have any tax liability, if you qualify1”

        Patrick LaRue presents Ten Terrific Tax Tips posted at 2010 Tax, saying, “Check to see if you are eligible to Free File your tax return. You will save a good amount of money on your federal tax preparation.”

        Suba presents Blogger tax deductions posted at Wealth Informatics, saying, “Here is a list of blogger tax deductions (works for any online business). There are lot of expenses you can deduct as a blogger or online freelancer.”

        Ryan @ CML presents 7 Simple Tips to Legally Pay Less Tax posted at Cash Money Life, saying, “These 7 tips can help you legally pay fewer taxes when you file this year.”

        And, for something totally unrelated to babies…

        Other

        Buck Inspire presents Black Swan Blogger posted at Buck Inspire.
        The Amateur Financier presents Some Kindly Advice to Would-Be Bloggers posted at The Amateur Financier, saying, “A guide to some of the issues that people do not consider when starting a blog, which hopefully will help people to be more reasonable with their money-making expectations.”
        Janet presents What Would You Buy on a $27,000 Shopping Spree with 46 Credit Cards? posted at Credit Cards Canada, saying, “What if you had 46 credit cards and a $27,000 shopping list? What would do? Before your cards were flagged you were busted for fraud, of course.”
        Melissa Batai presents Finding Personal and Familial Fulfillment One Cheerio at a Time posted at Mom’s Plans, saying, “Sometimes the most important things in life are not about money. Sometimes they are about pursuing a life passion and spending time with family.”

        Well – that concludes this week’s edition of the Totally Money Blog Carnival. Submit your blog articles to next week’s edition (scheduled for March 14th) using the handy carnival submission form. Tom at Canadian Finance Blog will be the host. He is also hosting the next (March 31st) edition of the Carnival of Passive Investing as well! Get excited!

        Also, if you are interested in hosting an upcoming edition of the Carnival, take a quick look at the hosting requirements, and then contact Budgeting in the Fun Stuff about arranging a hosting date.

          ***Photo courtesy of http://farm3.static.flickr.com/2350/2370733579_2505076a66.jpg

          Yakezie Blog Swap # 3 Roundup and My Favorite Pick

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          One week ago, My Personal Finance Journey participated in the 3rd ever Yakezie Blog Swap. 


          In this event, members and challengers of the Yakezie Personal Finance Blog Network paired up and traded posts amongst themselves on the common topic of “a time that you splurged and were glad you did.”


          My Favorite Swapped Post from the Event


          After reading through all of the articles in this blog swap, my hands-down favorite is the one below! Beautifully written, very entertaining, and it definitely made me laugh! Nice work 101 Centavos!


          101 Centavos went nuts on an anniversary, but you know what that can get you… Read about it at Broke Professionals.


          My Swap


          Derek from My Life and Finances got a sweet new digital camera and told us about it on my My Personal Finance Journey.
          I have splurged a couple of times on travel and outdoor gear and have no regrets. Enjoy as I share these experiences at My Life and Finances.

          Best of the Rest!

          Narrow Bridge Finance wrote about his journey to become a DJ at Beating Broke.

          Beating Broke wrote about shoe shopping at Narrow Bridge.
          Barbara Friedberg got a really nice couch and shared the experience at Wealth Informatics.
          Suba doesn’t think the rent is too high, in fact, Suba thinks it is worth it and shares at Barbara Friedberg Personal Finance.
          Mr. and Mrs. BP spent a lot when they got a dog. Read about it at 101 Centavos.
          Latisha Styles’ post at Bucksome Boomer is I Spent How Much?! My Birthday Trip to the Bahamas.
          Kay Lynn spent her heart out on a new car with all the bells and whistles, and you can read about it at Financial Success for Young Adults.
          Miss T. likes to splurge on travel. We have something in common!!! The difference? She wrote about it at Live Real Now.
          Jason is a fan of the luxury of vacation. You can read about it at the Prairie EcoThrifter.

          How about you all? Which post above was your favorite? 


          Share your experiences by commenting below!

            ***Photo courtesy of http://cdn2.yakezie.com/badges/250-yakezie-04.png

            Get Out of Debt for Less with an Expert Debt Settlement Attorney

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            Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
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            Today’s guest post comes to us from Debt Settlement Link.

            Get Out of Debt for Less with an Expert Debt Settlement Attorney



            Are you tired of weekly collection calls, little sleep, and a spiraling debt burden that is pushing you further and further behind your ideal life? With the current economy, today is a perfect time to present your creditors with a debt settlement offer. Let go of some unnecessary stress. A debt settlement attorney is specially trained to help you navigate the legal system and settle your unsecured debt for less.

            What Is Unsecured Debt?

            First off, what kind of debt qualifies for assistance? An unsecured debt is simply a financial obligation where the lender does not hold any collateral. Most credit card debt, department store debt, personal loans, and medical bills are unsecured and can be settled for less than you owe.

            Examples of bills that are NOT eligible are mortgages, car loans, student loans, alimony, and tax debt. You may have other options for renegotiating these obligations, but they will not be part of your unsecured debt settlement.

            Creditors make their money off interest payments and fees, so as long as you are able to make minimum payments, they will not be interested in settling. When you slip to 90 days or more past due and the risk of bankruptcy increases, most creditors will finally consider a debt settlement agreement.

            The Next Steps of Debt Settlement

            If you meet these guidelines and qualify for financial relief, your debt settlement attorney will work with you to prepare the best course of action for your situation. Typically, the initial plan involves contacting each creditor and negotiating reduced interest rates, debt forgiveness, or other payment plans. The goal is to eliminate fees, reduce your payment burden by up to 60%, and give you some room to afford regular payments. Your debt settlement attorney will take care of all communications with creditors and collection agencies, help you correct errors on your credit report, and give you the tools to get your credit history back on track. Keep in mind that settling unsecured debt will impact your credit history, but it is often a better route than giving up and declaring bankruptcy.

            When you are beyond the help of credit counseling, debt settlement is an excellent solution. The small amount you will pay in attorney fees is well worth chopping your unsecured debt in half and getting your finances back on track.


            How about you all? Have you used a debt settlement attorney to get out of debt? Did it work well? Were you satisfied with the results? 


            Share your experiences by commenting below!


            Jacob’s Thoughts – Listed below are my random thoughts as I was reading this article.

            • First, I find it interesting that only consumer debt (credit card debt, etc) is eligible for debt settlement. I suppose that the creditors figure that secured debt (such as home mortgages) don’t need settlement since the creditors can merely repossess your assets to cover the debt. But, I wonder what happens if the market price of the asset dips way below the mortgage price? It seems that it would be in the lender’s interest to negotiate the debt.
            • In my opinion, most people absolutely do not need to pay for an attorney to settle their debt. They either 1) do not have that serious of a debt condition and do not need to settle or 2) can do the same things on their own. So, make absolutely sure that you have exhausted your options before seeking expensive help such as an attorney.

            ***Photo courtesy of http://bankruptcyattorneysinillinois.com/

            The Right Match – Finding the Best Credit Card

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            Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
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            The following post was featured in the March 12th Yakezie Carnival – Spring Training Edition.


            Today’s guest post comes to us from William of Home Loan Finder.

            The Right Match – Finding the Best Credit Card


            Finding the right credit card for your style of spending is important. There are credit cards with low interest rates for those who carry a balance, and credit cards with high interest rates to compensate for reward programs. Either way you look at it, you’re going to need the card that’s right for you to keep your credit on track.

            The Types of Spenders

            According to a recent study by Cannex, there are four major types of credit card users. They are: habitual spenders, everyday spenders, impulse spenders and big spenders. There are cards that are appropriate for each group, but to know which is the best credit card for you, you must first decide what kind of spender you are.

            The Habitual Spender


            A habitual spender is someone who regularly spends more than they can afford on their credit card. Because of this, they often carry balances over, revolving from month to month and adding interest to their balance. This happens because these spenders don’t have the money to cover the total amount of their balance.

            The Impulse Spender

            An impulse spender spends money on their credit card on impulse items. This could be a drink at a gas station or holidays, Christmas, and birthdays. Unfortunately, these spenders, too, tend to have revolving balance from month to month, adding interest to their balances each month because they can’t afford to pay the entire balance.

            The Everyday Spender

            An everyday spender uses their card for almost all of their everyday purchases. The difference is that while they use their card for most, if not all, of their purchases, they’re saving the money from their paychecks. They then pay the balance off, in full, almost every month. Occasionally, they’ll carry a small balance between months.

            The Big Spender

            A big spender, as the name implies, regularly spends more than most people on their cards. However, like an everyday spender, they have the money in their bank accounts to pay the balance off, in full, pretty much every month.

            What Card Suits Your Style?

            If you’re an impulse or habitual spender, it’s likely that the most important thing to you is a low interest rate so your balances don’t get completely out of control. You’re not looking for a major rewards or points program on your card, as long as you can find terms and conditions that offer a lower enough APR that your balance stays manageable.

            Conversely, the goal of an everyday spender is to rack up as many reward points as they can to get the free rewards. Since they always pay their bills, every month, the interest rate on the card is next to irrelevant. A big spender is looking for reward programs or points, as well is premium services as part of their credit card account. As they always pay the balance off in full, the interest rate is largely irrelevant. This is especially true when compared to the perks of membership with the card such as free concierge service or free travel insurance.

            Comparison Shopping

            If you’re in one of the latter two categories, you can benefit from doing some comparison shopping. Its important to check things such as the life of the points you earned, and what those points are actually worth in dollars. Free flight miles or free gasoline may sound great, but if the amount of points you must accumulate doesn’t fit with your spending, then you may just be wasting your money.

            As an example, a card may allow you to redeem $10 for every $100 spent up to a core rebate of $3000 on any new car. The downside is that these points may only valid for five years. If you wont use them in that time limit, your money on this card is virtually useless.

            If you’re in the market for a new credit card, it is essential that you are honest with yourself and determine what type of borrower you are. Understanding your financial income, spending habits and financial goals will allow you to find the card with the features to give you financial freedom and keep you out of debt!

            How about you all? What category of spender are you? Does the type of credit card you have (or are looking for) match you spending category?


            Share your experiences by commenting below!

            Jacob’s Thoughts – Listed below are my random thoughts as I was reading this article.

            • @ The Habitual Spender – This is the type of spender that truly befuddles me. Why do we feel that it is all right to spend money that we don’t have (and don’t intend to have any time soon) on consumer purchases? If any one out there can share any insight, that’d be great!
            • I would definitely say that I am in the Everyday Spender category. I use my cash-back credit cards for all of my daily purchases, but always pay them off in full each month. Since I pay off my balances in full each month, I don’t really care what the APR is.
            • With all credit cards (and for all categories of spenders), it is important to avoid credit cards that require that you pay an annual fee. I feel these are big rip offs.

            ***Photo courtesy of http://www.thirsty-fish.com/storage/spending1.gif?__SQUARESPACE_CACHEVERSION=1234310933824

            Vanguard vs. Fidelity Article Competing Today in Round 2 of March Madness Money Tournament

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            Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
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            Interested in receiving a free $25 Amazon gift card? Click here to sign up for my Cheapskate Jake “Cheapskates Need Love Too” giveaway! Or, click here to enter my free giveaway for 5 copies of H&R Block At Home Premium Edition

            Good morning everyone!

            Just wanted announce that my article comparing Vanguard vs. Fidelity is competing today in Round 2 of Free Money Finance’s March Madness Tournament. You can view the competition by clicking on the link below!

            March Madness Money Tournament – Free Money Finance – Round 2

            Also competing today are 3 other of my Yakezie Personal Finance Blog Network friends – Squirrelers, Darwin’s Money, and Budgeting in the Fun Stuff.

            Please stop by the link above and vote for your favorite post! If you like my article, you can vote for me by typing the word, “Better,” in the comments section.

              ***Photo courtesy of http://www.smh.com.au/ffximage/2007/05/26/oscarpistorius_wideweb__470x312,0.jpg

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