June 2012

Prenups Aren’t Just for the Rich and Famous

Who had a prenup when they married, Britney Spears or Paul McCartney? Score one if you chose the blonde bubblehead over the savvy billionaire Brit. Paul McCartney lost $50 million to his ex-wife Heather Mills in their March 2008 divorce court battle.  But Britney’s preplanning paid off: she paid just $300,000 to shed Kevin, leaving

Prenups Aren’t Just for the Rich and Famous Read More »

Mrs. Winkler Was Right

Many years ago in a Milwaukee schoolroom my first grade teacher Mrs. Winkler worked hard to instill in her young pupils the principles of personal responsibility and proper behavior. She also made sure we girls and boys left her care with a solid grounding in the fundamentals of basic math—Two plus Two equals Four. Mrs.

Mrs. Winkler Was Right Read More »

A More Perfect Union

“All marriages are happy.  It’s living together afterward that’s difficult.” Anonymous  Flags, parades, picnics, and fireworks.  July is the month we celebrate those traditions and institutions that make our society strong and free. Before the Founding Fathers wrote their plan for “a more perfect union,” they did a lot of thinking, discussing, and a fair

A More Perfect Union Read More »

Vacation on a Budget

Are your vacations so hectic that you need to get back to work to relax once you return?  Are you still paying off your last vacation while booking your next one?  Here’s a way to abandon the stressful vacation payment treadmill, and relax on the cheap this summer. Get away without going away. Whenever my

Vacation on a Budget Read More »

Money Camps and Other Ways to Inspire Your Budding Tycoons

As most parents agree, financial education for children is a great idea. In fact, many parents wish that they had learned more about money management way back when. Children are happy asking for and spending the money — until the day when Mom or Dad says, “That’s too expensive” or “We can’t afford that right

Money Camps and Other Ways to Inspire Your Budding Tycoons Read More »

Cutting College Costs

Hopefully you planned ahead and have a nice chunk of change set aside for the costs of college. Figure out how much you’ll need for junior’s education with the Save for College at VISA USA’s education website Practical Money Skills. If your savings come up short, don’t despair — there are a lot of things you can

Cutting College Costs Read More »

15 Ways to Date Your Mate

Is Date Night a drain on your finances, with the babysitter, fancy restaurants, theatre tickets, and cab fares? Here are some ideas for great cheap dates with your honey that will save you lots of cash without skimping on the romance. Eat a simple, nutritious dinner at home, and then go out for a truly

15 Ways to Date Your Mate Read More »

Five Money Myths That Can Keep You Apart

Managing money with your significant other is difficult enough. Don’t burden your relationship with half-truths that can make it even harder. Make sure these five money myths aren’t keeping you apart.  The partner who earns more, knows more. Your earnings are only a measure of how much you earn right now, period. They don’t represent

Five Money Myths That Can Keep You Apart Read More »

Divorce and Family Finances

Dear Dollar Stretcher, Unfortunately, so many families are splitting that guidelines are needed for that form of family. When a family has split, what would be an equitable financial plan? How big a piece of the husband’s income pie should go to the household occupied by two growing children with their mother, and how big

Divorce and Family Finances Read More »

Are You an Enterprising Woman?

Do you dream of having your own business? More and more women each year discover the excitement of being self-employed. If it sounds good to you, the prospects have never been better or the resources greater to help you get started. Enterprising women across America are building businesses that now employ 7.8 million people and

Are You an Enterprising Woman? Read More »

What We’ve Learned So Far

After well over 25 years at the non-profit Women’s Institute for Financial Education (WIFE.org) we find that we’ve learned a lot. Here are some of the things that experience has taught us about investing. Saving a little can mean a lot. If you save $5 a day for your entire working life, you can retire

What We’ve Learned So Far Read More »

Success Is Contagious – Catch Some Today!

Attention, ladies! Don’t let yesterday’s negative perceptions dim your financial hopes. In case you haven’t heard, financial stars are on the rise for today’s woman. Almost half of Americans with assets greater than $500,000 are women, and women control more than half of the private wealth in America. Women hold almost 50% of all corporate

Success Is Contagious – Catch Some Today! Read More »

Make a Difference: Capture the Power of the Three E’s

What can you do to make a difference? How can you use your time, talents and money most effectively? When we started WIFE twentythree years ago, we developed five guiding principles to make sure that we were using our resources in the most effective way. We continue to use these principles today. And so can

Make a Difference: Capture the Power of the Three E’s Read More »

What Do Women Like More Than Chocolate?

What do women like more than chocolate? Lots of ideas might be coming to mind, but the surprising answer is that women like cooperation even more than chocolate! A recent study at Emory University used an MRI brain scan during an experiment that involved alternating cooperation and conflict. The (male) scientists thought that conflict would

What Do Women Like More Than Chocolate? Read More »

Is Money More Important Than Sex? Most Women Think So

An excerpt from the seminar “Investing in the Future: What Every Woman Needs to Know” by Gail Buckner, Senior Vice President of Putnam Mutual Funds. Men think more about sex than money. Women think more about money than sex. Those were the surprising results found by Money Magazine in its 1996 survey. Why do men

Is Money More Important Than Sex? Most Women Think So Read More »

Calendars and To Do Lists

Color code your calendar for quick identification of type of function or personnel on a project. It works well for clarity and creates a more attractive calendar. Keep only the number of calendars you really need. Be sure one calendar always contains everything and is the most current and reliable. Track multiple or large projects

Calendars and To Do Lists Read More »

Mortgage Insurance

Dear Dollar Stretcher, My husband and I bought a house 18 months ago. We went in with less than 20% down, and so are stuck paying mortgage insurance to the tune of over $80 per month. What exactly is mortgage insurance for, and is it possible for us to “cancel” our mortgage insurance by showing

Mortgage Insurance Read More »

Bartering Clubs

Hi Gary, I just read an article on joining a bartering club in order to barter for bargains. The fee to join the club is $350. Is it worth it and are there other clubs available with lower membership fees? — Donna Even though we might not think of it, almost everyone is part of

Bartering Clubs Read More »

The Dollar Stretcher

Dear Dollar Stretcher My husband and I aren’t quite sure which way to go to conserve on our heating bills. We have steam radiators in our old Victorian house and just replaced the boiler. The old one was over 60 years old and very inefficient. We have a programmable digital thermostat. Does it make more

The Dollar Stretcher Read More »

A Five-Step Blueprint for Growing Your Money

Mutual funds are supposed to make inventing easy, but picking and managing mutual funds is bewildering for most novice investors. Fortunately, you don’t have to know a great deal about investments to make money in mutual funds. All you need is a reasonable knowledge of your own financial situation and goals, and some basic guidelines

A Five-Step Blueprint for Growing Your Money Read More »

25 Ways to Divorce Without Going Broke

Excerpted from the booklet “150 Ways to Divorce Without Going Broke“ Divorce is the largest single financial transaction of most people’s lives, raising important questions that demand immediate answers. Here are some helpful tips on every aspect of divorce, including: before the divorce, gathering records, alimony, tax returns, navigating the divorce, accumulating cash, hiring an

25 Ways to Divorce Without Going Broke Read More »

How Do You Really Feel About Money?

How we feel about money-whether fearful and constricted or open and generous-greatly affects how we approach our financial lives. Use this exercise to identify your money attitudes and develop a positive approach toward your financial life. Circle the words that best describe your feelings about money and finances at the moment. Circle as many as

How Do You Really Feel About Money? Read More »

Living Dangerously: The Lies We Tell Ourselves about Disability Insurance

Do you have disability insurance? Many of us don’t. A survey by The Consumer Federation of America and The American Council of Life Insurers found that 82% of people do not have long-term disability insurance or believe their coverage to be inadequate. One-third of working adults say that their families could only live for three

Living Dangerously: The Lies We Tell Ourselves about Disability Insurance Read More »

Setting Up Your Budget

In Dutch it’s “begroting,” in Spanish, “presupuesto,” and the Germans say “haushaltsplan” (which make the most sense, as in “How Shalt YOU plan?  In any language, we either love or hate the word and the idea of it.  But if you have no idea where your money goes, you are bound to end up in

Setting Up Your Budget Read More »

Start Your Tax Planning Early

If you start your tax planning early you’ll  have plenty of time to work on strategies to lower your tax “bite” for the coming year. Review your investments If you have taxable income from investments, consider investments that are tax-deferred (retirement plans and deferred annuities) or tax-free (municipal bonds, Roth IRAs, 529 education plans).  Match

Start Your Tax Planning Early Read More »

Standing Up To The IRS

When you receive a plain brown envelope marked “Official US Business” from the Internal Revenue Service, it’s enough to strike terror in your heart. Your first instinct to the deficiency notice inside might be to pay them whatever they want, but don’t do it. There are four common notices that you might receive from the

Standing Up To The IRS Read More »

Get Wired, Says IRS

Wanted: Compatible computers for online communication. Objective: electronic transfer of tax data and refunds. That’s the lonely hearts message being sent by the IRS, which wants your computer to cuddle up to its computer for electronic filing. The IRS is gung-ho about encouraging taxpayers to file electronically, but some taxpayers aren’t sure, and so far

Get Wired, Says IRS Read More »

21-Day Savings Makeover

Please Sign Me Up For the 21-Day Savings Makeover Every day for 21 days, we will send you an email with one Small Step you can do to move you closer to your goal, and to motivate you to succeed and prosper. Trust your Money Guides to show you how. This is Temporarily Unavailable. Please Check

21-Day Savings Makeover Read More »

21-Day Debt Makeover

Please Sign Me Up For the 21-Day Debt Makeover Every day for 21 days, we will send you an email with one Small Step you can do to move you closer to your goal, and to motivate you to succeed and prosper. Trust your Money Guides to show you how. It’s free, it’s educational, and

21-Day Debt Makeover Read More »

Business Deductions for Employees

Even if you don’t have your own business, you may have some expenses that are tax deductible. If you are a salaried professional, teacher or other employee, here are some deductions you shouldn’t overlook. Dues for professional organizations Personal supplies, such as pens, pencils, briefcases, calculators, executive diaries, etc. Fees for credit cards used exclusively

Business Deductions for Employees Read More »

Are Bonds Safer Than Stocks?

Bonds are debt instruments issued by the U.S. government, state and local governments, corporations, and foreign entities. The issuer borrows money and promises to pay back the debt plus interest twice a year. If the issuer goes bankrupt, bond holders will be paid before stock holders. Here are some key elements of bonds: Principal or

Are Bonds Safer Than Stocks? Read More »

Managing Inherited Wealth

Dream or Nightmare? Money Can Be Both Tamara had dreamed that one day she’d have wealth. One day she did, but it came as a nightmare rather than a dream, when a fiery plane crash killed her husband and two of her four children. For five long years she battled the airline at fault for

Managing Inherited Wealth Read More »

Chicken Little Investing

“The sky is falling, the sky is falling” cried Chicken Little.  Some investors may agree.  What should you do If you find the stock market plummeting. 1.  Don’t panic. Remember that panic is not an effective, long-term investment strategy. But when the Nasdaq plunges as much as 5% a day for several days running, it’s hard

Chicken Little Investing Read More »

Surfing The Business Cycle

Selecting stocks can be tough. But stock selection is much easier once you understand stock market and economic cycles. Diversification is key. To build a portfolio, you should own several different stocks in several of the eight market sectors: consumer cyclicals, technology, financial, energy, industrials, basic materials, consumer non-cyclicals and utilities. Decide which of the

Surfing The Business Cycle Read More »

Home Improvements — A Good Investment or Not?

Making changes to your home can disrupt your life, and it can be harmful to your finances as well. Before you decide on your next home improvement project, check out how much it will improve your home’s value. According to figures from the National Association of the Remodeling Industry, remodeling your kitchen or bathroom is

Home Improvements — A Good Investment or Not? Read More »

4 Credit Score Secrets

So you want to buy a car or a house? How about get a credit card or a mobile phone? You won’t get any of those things until they check your credit score. There are three main credit scoring agencies – Equifax, Experian and Trans Union. They each issue credit reports showing your creditors’ names,

4 Credit Score Secrets Read More »

5 steps you can take to ease your financial transition from divorce

Just because your marriage went down the drain, doesn’t mean your money has to follow. The emotional burden of a divorce can be overwhelming. Now add to that the financial adjustments you have to go through and it becomes frightening. But don’t fret, there are certain steps you can take to get your “Divorce and

5 steps you can take to ease your financial transition from divorce Read More »

Patience is a Virtue

Is the recent stock volatility in the market making your head spin? You’ve probably heard the comparison between the current stock market and a roller coaster ride. Both have a lot of sudden ups and downs that can make keeping your lunch down a chore. But ask yourself this question- when the roller coaster is

Patience is a Virtue Read More »

Gimmie! Gimmie! Gimmie!

Do your kids think you’re made of money? Does it seem like every time you turn around your forking out dough to your kids? Maybe, it’s time to start teaching them the meaning of that old expression, “Money doesn’t grow on trees” Here are some helpful ideas to make them start respecting the hard work

Gimmie! Gimmie! Gimmie! Read More »

Building Wealth Basics

5 Basic building blocks that will  start you on the road to financial freedom. When the great master told her pupil, “You must first learn to walk before you can run.” She could have very well been giving financial advice. Wealth building is a result of organization, planning, and motivation. Take these 5 tips to

Building Wealth Basics Read More »

Social Security Retirement? Plan for Social In-Security…

Thinking Social Security is a major source of retirement income? Think Again. If you’re counting on Social Security as a major part of your retirement income…watch out! The Social Security system is increasingly strained. With people living longer and better health care, more and more people are drawing benefits. To give you an idea:  In

Social Security Retirement? Plan for Social In-Security… Read More »

A Penny Saved

Before saying you have no money to save, check out the “Latte Factor.” This may be a savings strategy you’ve overlooked when looking for ways to save money. What is the “Latte Factor”?  Let’s make up an example. Tom is a 23 year old, working in an office somewhere, and not getting paid a whole

A Penny Saved Read More »

Be Safe, Not Sorry

What Steps Can You Take Now to  Protect the Security of Your Family? One of your first financial goals should be protecting your family’s security from a financial crisis.  To do this, you need to look at four things: First, it’s important to have enough insurance in all major areas. These major areas are life,

Be Safe, Not Sorry Read More »

Heart to Heart

It’s an uncomfortable conversation to have with your parents…and I am not referring to the birds and the bees. This one involves their estate and resolving any uncertainties before they’re gone. Death is not a pleasant subject, but it is going to come eventually and it’s better to be prepared. Assure your parents that you

Heart to Heart Read More »

Your Investment Strategy

Volatile Times in the Market Raise Lots of Questions. Wondering how to invest and what to invest in? Your first step should be to formulate an investment strategy. To do that, ask yourself these questions concerning your exceptions and preferences.  What period of time are you investing for?A short-term investor needs the money in one

Your Investment Strategy Read More »

What’s Your Risk Factor?

To help you figure out your relationship to risk, we’ve created a short quiz. Take a few moments to complete it, choosing the answer that best describes you. The results should give you a good idea of how much comfortable you are (or aren’t) with taking risks. When taking this quiz: Answer all questions (guess if you’re not sure) Only check ONE box for

What’s Your Risk Factor? Read More »

A Wise Risk Today Brings Good Fortune Tomorrow

Perhaps it was Confucius who said, “Nothing ventured, nothing gained.” Investing for the future is always a game of chance and risk-taking is part of the game plan.  The goal is to make your money grow—keeping ahead of inflation, using interest rates to your advantage in saving and borrowing, riding safely through the ups and

A Wise Risk Today Brings Good Fortune Tomorrow Read More »

PayOff.com

Looking for a new approach to having fun with your finances? Try Payoff.com, a new site that uses your dreams to inspire sound money management—with a little help from your friends. Payoff is free, and it helps you get your friends involved as a financial support system, so you are more likely to reach your

PayOff.com Read More »

Scroll to Top