Mar
13
Protect Yourself with Credit Cards
March 13, 2008 | 6 Comments
… that credit cards are your best insurance when it comes to purchases. While more than 99% of my purchases have been problem free, many online purchases haven’t gone so well for one reason or another.
Merchant Errors/Failure to Deliver
Consider this scenario, you sign up for an unlimited music subscription with a major online company. The registration goes through; they charge your credit card. Everything appears fine. A few days pass and you discover a problem with the service. …
Dec
30
Are Credit Unions Better Than Banks?
December 30, 2006 | 4 Comments
I was listening to the radio the other day on my way home from work and heard an advertisement for a bank , then a few seconds later I heard and advertisement for a local credit union. Then I drove by a bank and then I passed a credit union. I had been mulling over switching some of my accounts from my current back to a locally owned credit union. I decided I should read up on the difference between the two as it had been awhile …
Sep
21
Why Money Market Funds Aren't Safe
September 21, 2008 | Leave a Comment
… the Fed acted in time to avert disaster, the possibility that this thing can happen in the first place should alarm those with large amounts invested in money market funds.
Remember there is no federal guarantee that you money is safe with money market account. Historically this has been the case, but you don't want to take chances. With a money market you have the worst of both worlds. You're not making as much money (typically) as a stock market mutual fund and you aren't …
Sep
12
Evidence that the Stock Market is Efficient
September 12, 2008 | 1 Comment
… the Efficient Market Hypothesis is valid. The Efficient Market theory states that all public information is reflected in the price of security. Put another way, news effects the prices of stocks almost as soon as it is known.
Recently an old news story from the Sun Sentinel provided more evidence in support of efficient market pricing. Google News picked up an old news story about United Airlines filing for bankruptcy. As the story was picked up by Bloomberg (the financial …
Aug
29
Do Succesful People Watch Television?
August 29, 2008 | 1 Comment
… a strong correlation between hours of television watched and wealth.
I did a quick search for information relating income / wealth and television viewing. I didn't find anything in the first few pages which doesn't mean there are not studies, just that I haven't found them. Most of the current research is on TV and health problems like obesity or the effects on children and adolescents.
Since I don't have any academic material at my disposal, I'll have to resort to anecdotal …
Aug
4
Track Home Improvment Expenses for Tax Purposes
August 4, 2008 | Leave a Comment
… savings) in the year that you make the improvements.
From Jackson Hewitt :
The terms repairs and improvements can be confusing as it applies to the value of your home. A repair or maintenance expense is not tax deductible and cannot be added to the basis of your home. An improvement adds to the value of your home and is added to the basis. Adding vinyl siding and installing a security system are examples of improvements.
Capital Gains
The original cost of your home plus any …
Aug
1
Should You Buy a New Car for Better Gas Mileage?
August 1, 2008 | 2 Comments
… better gas mileage?
In part 1 I told you how to calculate your monthly gas bill. With that information we can figure out if it pays to buy a new vehicle.
I spend $75 ($71 rounded up) on gas per month. This includes only my daily commute. Since most of the places I have to go our on my route, I don't make many additional trips.
My vehicle gets 12 miles per gallon. I drive about 2,860 miles per year.
Buying a New Vehicle for Fuel Economy Doesn't Make Sense
I spend more on my …
Jul
2
I was browsing around the IRS site looking for some information on the stimulus package and I happened across this picture. It just screamed out for some creative editing.
Alan Greenspan is the former Chairman of the Federal Reserve which according to some is the most powerful position in the world.
Some argue that his easy credit policies led us into the tech and real estate bubbles. I don't think we can …
Jul
1
The Economy, Happiness and the Media
July 1, 2008 | 1 Comment
… of fear in order to continue to sell their product.
It's no wonder the new media, especially websites and blogs, is quickly replacing the old media. People are tired of living in fear.
Here is an example from the Washington Post. Americans were asked the question: "Taken all together, how would you say things are these days — would you say that you are very happy, pretty happy or not too happy?" The results are supposed to indicate that Americans are less happy then they …
Comment by Jeff: … about the Economy" section, but I would add one …
Jun
30
How Wealthy People Spend Their Time
June 30, 2008 | Leave a Comment
… day."
I really enjoy what I do. In fact I work on most weekends. Work is satisfying to me. My father was the same way. He used to work 7 days a week. Now he barely works at all, he doesn't need to.
The Rich Enjoy Their Leisure
Buffet also plays online bridge with Bill Gates 12 hours a week. Spending time with friends is satisfying.
Back when I used to watch TV I usually felt guilty after an extended period. It's such a waste when there are so many other things you …