I recently received this question from a reader:
I have been hearing a lot about the comeback of the charge card. What is a charge card? Is it difference from a credit card?
There is no denying the convenience of plastic money. However, even though a debit card is preferred by many, the debit card lacks a number of advantages and protections available withe a credit card. Many people, though, are justly concerned about the potential for problems with using a credit card. Is there some sort of happy medium? Actually, there is. It’s called a charge card. The charge card was …read more

We often look at celebrities and other high earners and think that they must have so much money that they could never exceed their incomes. However, this is not the case. Free Money Finance has an interesting list of celebrities that made tons of money and then blew it because they failed to abide by the #1 rule of personal finance: Spend Less Than You Earn.
Here are some of the celebrities listed by Free Money Finance:

Michael Jackson
Mike Tyson
Nicolas Cage
Kim Basinger
Gary Coleman
Corey Haim

And, of course, I can think of a few more off the top of my head, including Elton John, …read more

Whenever you use plastic, you are creating a data trail for others to follow. (This can also include debit cards, but for the purpose of this post, we’ll mainly address credit cards.) Whenever you use your credit card, what you purchase goes on record. And it may start affecting your credit score. At the very least, some credit card issuers might use the information to decide whether to or not to cut your credit line. Here is something from CreditCards.com that addresses this issue:
As credit card companies continue to tighten their lending standards on card users, some are using purchasing …read more

One of the biggest news items in the world of personal finance is the fact that 2010 marks the year of the conversion to the Roth IRA. From the traditional IRA or a 401k, it is going to be relatively easy for most people to convert. This will allow higher wage earners, who have so far been excluded from the generous benefits of the Roth IRA, to get in on the action of tax-free growth. And one of the strategies that can help higher income wage earners get in on the Roth IRA action is the nondeductible IRA.
I read about …read more

We’ve turned into a rather image conscious and materialistic society. How we appear to others is important, and many of us use credit and get into debt to look rich. Indeed, acting rich — as though we’ve got money to burn — when we really don’t is why so many of us are far from being rich. This type of mentality can put our current financial situation at risk, as well as damage our chances for a prosperous retirement.
But how can you accumulate real wealth? Well, the answer lies in the #1 rule of personal finance: Spend less than you …read more

Not too long ago, I won the book Secrets of a Stingy Scoundrel by Phil Villarreal from a contest over at the site Fiscal Fizzle. It is easily one of the funniest money books I have read ever. Villarreal takes you on a journey through money saving tips — many of which are of dubious ethical (if not legal) origin. But the result is hilarious.
Villareal suggests that you can stock up free T-shirts, bags and water bottles by filling out credit card applications. Don’t worry; he realizes that having a bunch of credit cards can be detrimental to your financial …read more

Even though it is good to be grateful all year, I think that it is a good thing that we have a day devoted to giving thanks and reflecting on our blessings. Probably most of us don’t really spend a lot of time thinking about what we’re thankful for, but most people seem to take at least a few minutes to express their thanks.
There are many things I am thankful for. Here are a few things that I feel glad of this year:

Family
Friends
A job I can do from home
Home
Food
Social media ;)
Faith

It’s worth noting, of course, that many of these items …read more

If you are trying to change your financial habits, one of the first things you are likely to to is to change the way you handle your credit card purchases. However, in some cases, using a credit card is the preferred method of payment. How do you limit your credit card charges in a way to change your habits? Redeeming Riches has three ideas, and I have one of my own:

Delete your cookies: Redeeming Riches suggests that you delete your cookies and avoid saving credit card info on web sites. This way, you will think twice when you have to …read more

In these times of economic turmoil, one of the biggest casualties has been personal credit. Many people are seeing a drop to their credit scores, and finding it difficult to get the best rates on a number of products and services. This includes car leases, for those who prefer to lease their cars. And, if a double-dip recession becomes a reality, this problem could continue. Those with credit that is good enough to lease may find that they are not getting the best payment plan for their money.
One way that you can improve your chances of getting better pricing is …read more

One of the more interesting places that you can use to create and manage savings goals is SmartyPig. The site allows you to set up separate accounts that you can label for different purposes. These accounts then earn interest, allowing you to have your money work for you while you minutely track progress toward your savings goals. Today, SmartyPig is announcing the introduction of a 12% cash boost program. Here is what a press release from SmartyPig announces about how the program works, and the possibilities:
Now, when customers meet their savings goal they can realize up to 12% in cash …read more