1. How to Get Laid Off: A Step-By-Step Guide from Wisebread
2. Why You Need a Larger View of Your Finances (And So Do I)! from Redeeming Riches
3. Being Good With Money When You’re Bad With Math from Fiscal Fizzle
4. Debt Testimonials — Rethinking Interest Paid Moves Fred Into Action! from Debt Free Adventure
5. Another Case for Emergency Savings — Credit Score from Free From Broke
6. Review: The Bogleheads’ Guide to Retirement Planning from The Oblivious Investor
7. How To Save Money Without Thinking from Moolanomy
8. What If You Had Lots of Money? from Money Ning
9. 10 Secret Places for Storing Your Gold from Money Energy
10. Time to dump the credit cards? from Funny about Money
11. Roth 401lk For Businesses Big and Small from Good Financial Cents
12. 5 Reasons To Dump Your Strict Budget from Frugal Dad
13. Investor Psychology: Why We Fail to Make Good Financial Decisions from Consumerism Commentary
14. Your Take: Married Women Outearning Their Husbands from Bargaineering
15. 10 Ways to Increase The Value of Your Home from My Two Dollars
16. Why You Need an Emergency Fund and How to Start One from Cash Money Life
17. Avoid the Pressure to Spend from Bible Money Matters

Image source: ajburgess via Flickr

Post from: EveryJoe

Saturday Staples: Personal Finance Reading

Credit restrictions limit credit acquisition

The other side to this, of course, that credit is not growing. Lenders are imposing stricter credit standards on potential customers. Credit requirements, as well as income requirements, are tougher than they have been for years. This means that many people are being turned down for new lines of credit.

This is not necessarily a bad thing. One of the reasons we are in this mess is due to the ease of credit. When anyone with a pulse — including kids — can get a credit card, you know there is something wrong. The idea that you have to prove yourself responsible and able to make payments is a good one, and one that seems to be making a reappearance.

The next question is this: How long will this new found credit prudence last?

Image source: Daylife

Post from: EveryJoe

Outstanding Consumer Credit Falls

credit card practices and debt solutions practices

It’s important to note, though, that Brooks doesn’t excuse consumers from their responsibility in all of this. He makes it very clear that if you incur debt, you should repay. What he takes issue with, though, is the fact that the system is so rigged that even those who are trying their best to make changes and make good on their obligations have a hard time getting ahead. And once you start sinking money into a debt solutions program, he warns you that there is a good chance you will be had.

But it isn’t all doom and gloom. Indeed, Brooks strikes a hopeful tone toward the end of the book as he provides useful information that can help you get out of debt — without the help of the debt management and negotiation industry. He talks about using a boundary system rather than a traditional budget, as well as provides insight on improving your credit, rather than having a mindset of “repairing” something that really isn’t broken. Brooks also offers helpful information on stopping debt collector harassment, and provides sample letters and scripts to use.

In the end, Deceptive Money is a great resource if you are in debt and wondering what you can do to get out of debt. It is also a must-read if you are thinking of joining up with a debt solutions company, since it provides detailed information on various scams and how to avoid the pitfalls.

Post from: EveryJoe

Book Review: Deceptive Money by Bob Brooks

When teaching your kids about money, some of the important points are that they need to:

1. Save
2. Consider purchases
3. Give to others

These three main goals can be broken down into different, smaller goals, of course, but for the most part these three things are essential when teaching children how to manage their money. In order to help you with this, the site ThreeJars.com aims to help children learn to use the Internet to manage their money.

ThreeJars sets up virtual jars for kids, labeled “Save”, “Spend”, and “Share”. The idea is that kids can put money in each “jar” and use it for specific purposes. They can save up for the future, put money in the spend jar for things they want to buy, and, of course, the share jar is for donations. ThreeJars offers access to a number of causes, so it is possible for children to research organizations that interest them, and direct their money. Kids can also use the site to come with pitches to you for extra things they can do to boost their allowance earnings.

The idea is a pretty good one. I like the idea of adding an online component to money management. With online banking gaining in popularity, it is a good way to help children learn about how they can use the Internet to make money decisions. The downside to ThreeJars is that it is not free. There is a $30 fee per family after an initial free trial period. While ThreeJars may be more visual and appealing to kids, some of the same concepts can be learned with free services, like SmartyPig.

In the end, though, it might be worth it to pay the $30 a month if you are looking for an easy and fun way to get your kids more involved with money management.

Post from: EveryJoe

ThreeJars: Teaching Your Kids Money

• Installing Financial Red-Light Cameras from Fiscal Fizzle.
• Develop a Healthy Attitude About Money and Spot Unhealthy Habits from Generation X Finance.
• Investing Rules of Thumb from The Oblivious Investor.
• How To Prioritize Your Debt Repayment Plan from Moolanomy. (Disclosure: I wrote this one. I’m now a staff writer for Moolanomy!)
• Living within your means is good for the economy from Funny about Money.
• Reasons You Should Get Started Investing While Still a Graduate Student from MoneyEnergy.
• Don’t Forget These Last Minute Tax Breaks for 2009 from Good Financial Cents.
• Are Debit Cards Evil, Too? from Get Rich Slowly.
• Medical Expenses A Common Cause of Bankruptcy from Frugal Dad.
• A Report Card for Financial Rules of Thumb from Consumerism Commentary.
• 7 Steps to Improve Your Credit Score from Bargaineering.
• How Do We Exit the Bailout? from All Financial Matters.
• 7 Ways To Save Money On Dental Care & Bills from My Two Dollars.
• 3 Medical Basics — Some Things Aren’t Optional from Mrs. Micah.
• Get your finances under control in a single day from Gather Little by Little.
• Pay Off Your Credit Cards in Half the Time from Cash Money Life.
• Cash For Appliances Government Stimulus Rebate Program Will Give Money For Old Refrigerators, Washers And More from Bible Money Matters.

Image source: Daylife

Post from: EveryJoe

Saturday Staples: Personal Finance Reading

1. In many cases, credit card debt is self-imposed, and we have created our own bonds.
2. Credit card companies can legally still do pretty much whatever they want with your terms. They just have to give you 45 days notice now, and can’t do it retroactively, thanks to the Credit CARD Act.

That said, it is true that credit cards do employ many unfair practices, and they do work hard to keep you in debt (and paying obscene amounts of interest). And I myself am a little annoyed. My Discover card issued by GE Money Bank is jacking up my interest rate again. Unlike the woman in the video (who, it turns out, did miss a payment), I have not missed a payment. And most months I pay off what I charge on the card. This comes after having my credit line reduced. I’m severely annoyed. If I didn’t need the available credit to help score in order to get a good refinance rate, I’d cancel today.

Post from: EveryJoe

Friday Fun Video: Debtors Revolt

• Do You Make These 4 Common 401k Mistakes? from Redeeming Riches
• 15 Signs You’re in Financial Denial from Fiscal Fizzle
• I’m A Stay At Home Dad – For Now from Free From Broke
• The Noise from Inside from The Oblivious Investor
• Advantages and Disadvantages of Investing in Gold Bullion vs. Gold Stocks vs. Gold ETFs from MoneyEnergy
• Money Market Deposit Account Versus Online Savings Account from Moolanomy
• Don’t Be Afraid of Finances – Just Simplify Them from Million Dollar Journey
• 4 Ways to Save For Your Kids College Education from Good Financial Cents
• Retirement Plan Priority List from Free Money Finance
• How To Go About Finding A Job Online from My Two Dollars
• What Can and Can’t Your Credit Card (Company) Do? from Mrs. Micah
• Mortgage and Down Payment from Green Panda Treehouse
• How to Break the Minimum Credit Card Payment Mindset from Generation X Finance
• Multi-Level Marketing – Business Opportunity or a Scam? from Cash Money Life
• What Does It Take To Successfully Work From Home? from Bible Money Matters

Image source: Serenity via Wikimedia Commons

Post from: EveryJoe

Saturday Staples: Personal Finance Reading

• What is a Roth IRA And What Are The Benefits? from Bible Money Matters.
• Cheap Yet Fun Outdoor Activities from BudgetPulse.
• If Your Going to Consolidate Debt The You Have to Stop Using Credit from Generation X Finance.
• National Health Service in the UK from Cash Money Life.
• 5 Things Your Parents Didn’t Teach You About Money from Green Panda Treehouse.
• One in Nine Americans Receiving Food Stamps from My Two Dollars.
• Are Online Savings Accounts Worth It? from Bargaineering.
• How to Save 20% on Your Heating and Cooling Costs from Free Money Finance.
• Four Fifteen-Minute Financial Fixes from Good Financial Cents.
• If I Had It to Do Over: 10 money moves I’d do differently from Funny About Money.
• Introduction to Options, Puts and Calls from Moolanomy.
• Overweighting Small-Cap and Value Stocks from The Oblivious Investor.
• 10 Tips On Enjoying a Night Out For Less from Free From Broke.
• Debt-Free Living IS Attainable: If You Want It, You Can Have It from WiseBread.

Image source: Roby via Flickr

Post from: EveryJoe

Saturday Staples: Personal Finance Reading

• Housing market (home sales are rising, and prices are starting to recover in some markets)
• Motor vehicles (but that may be tempered now that Cash for Clunkers is over)
• Consumer spending is leveling out, rather than continuing its downward trend.

Of course, there are concerns about declining household wealth, as well as worries about a credit situation that remains tight for businesses and individuals alike. Members of the Fed are split over how quickly an upturn will take place, but it doesn’t appear that there is much discussion about the fact that the economic recovery will soon be underway — if it isn’t already.

And it is true that some of the data looks promising. Even though August retail sales are down, they aren’t down as much as they have been. And continuing jobless claims continue to decline in the labor market. (Of course, the decline in claims could be due to the fact that you can only collect benefits for 26 weeks, and people are dropping off the rolls.)

All that’s left to be seen is how quickly the economy recovers, and what shape it takes. Personally, I think a gradual recovery would be best for most of us. It would give us time to continue to develop better personal finance habits, and give the economy and businesses time to adapt to an economy that is not driven by debt-fueled consumer spending.

What do you think? Is economic recovery starting? Or are such optimistic thoughts premature?

Image source: sxc.hu

Post from: EveryJoe

Is The Economy Starting Its Recovery?

At any rate, here are some great personal finance posts from other bloggers. Enjoy your weekend!

• Roth IRA Conversion from Consumerism Commentary
• Americans To Spend Less This Holiday Season from Free From Broke
• The Personal Finance Toolbox from The Simple Dollar
• Tax Efficiency of Index Funds and ETFs from The Oblivious Investor
• Fifteen 5-Minute Tasks to Improve Your Finances from Fiscal Fizzle
• 15 Reasons Why You Should Ignore Your FICO Score from Money Ning
• 5 Tips to Avoid Overdraft Fees from My Dollar Plan
• 10 Questions To Test Your Credit Savvy from Moolanomy
• Diversify DRIP Cash Flow By Withdrawing Shares from Money Energy
• How to Save Money on Travel from Million Dollar Journey
• What IS Frugality? from Funny about Money
• How To Survive a Stock Market Crash from Good Financial Cents
• Rent vs Mortgage: Calculating Tangible and Intangible Costs from Frugal Dad
• Daily money Saving Tips That Really Add Up from My Two Dollars
• Achieve More By Having Smart Goals from Green Panda Treehouse
• Five Things That Don’t Affect Your Credit Score from Bible Money Matters
• Unemployed? Any Job is Better Than No Job from Cash Money Life

Image source: dichohecho via Flickr

Post from: EveryJoe

Saturday Staples: Personal Finance Reading