Personal Finance

Remember Book It? I used to love that program… free personal pan pizzas from Pizza Hut just for reading. I used to read Encyclopedia Brown and Hardy Boys and all those books for free. When I learned I could get free pizza for reading… it was like Christmas in June. It was incredible. Well, it’s almost summer and TD Bank is once again offering a summer reading promotion in which customers with a Young Saver account (kids) can get $10 if they read 10 books. All you need to do is have your child read ten books, fill out the summer reading form, and take it to the bank. They’ll get $10 deposited into their account and the fun of reading ten books. If you aren’t a TD Bank customer, this isn’t that great of a promotion if you’re promotion hunting. Most banks offer closer to $100 for you to join them, though their promotions aren’t as easy to fulfill as this one. They usually require direct deposits and minimum balances. If you are already a TD Bank customer, and your kids don’t have a savings account, this isn’t a bad time to consider introducing them to saving. And reading. $10 will be deposited into a new or existing Young Saver account. One coupon per Customer during the promotional period. Cannot be combined with any other offers. Valid May 5, 2012, through September 29, 2012. Must be 18 years of age or younger to participate. Bring form of ID for child for new account opening. TD Bank Summer Reading Program from personal finance blog Bargaineering.com. The post TD Bank Summer Reading Program appeared first on Bargaineering.

I grew up in a single income family with one stay-at-home parent. My spouse also had the same situation for part of her childhood, with her mom returning to work when the children were older. Our daughter started with one stay-at-home parent and moved to two stay-at-home parents when I took early retirement in 2007. While I think two stay-at-home parents has some advantages, I do worry a little about my daughter knowing the situation is not the norm. I have explained to her that most families have one working parent and some families have two working parents. I also have explained to her that it will be important for her to work and have a career as an adult. Both my spouse and I have done part time seasonal jobs while retired. So our daughter has seen both of us work, although not continuously in full time jobs. (I was working full time until our daughter was three years old, but I doubt she remembers much of my time in that job.) I've also started giving my daughter small "jobs" in which I pay her for tasks outside her normal chores. At this point, my plan is to be not working any wage jobs in 2014. So it will be important for us to continue developing a good work ethic for our daughter. For more on Crossing Generations, check back every Thursday for a new segment. This is not financial or parenting advice. Please consult a professional advisor. Copyright © 2013 Achievement Catalyst, LLC

Slow and steady often wins the race, North Shore, 2013. On May 5, 2013 I wrote a in-depth article called, “Should I Invest In China? A Top Down And Bottoms Up Perspective.” My simple thesis was that with the Yen depreciating to 100+ due to Abenomics coupled with strong world markets, China must inevitably catch up in a risk-on environment. I then identified the Chinese internet space as the most laggard sector where investors should consider putting money to work. Stock picks included BIDU, SINA, and RENN. So what happened with the stock picks since then? And more importantly, did I put my money where my mouth is or was I just pontificating like some useless Wall St. research analyst does with Neutral/Hold/Wait And See ratings? I hope you know by now that I don’t like wasting time writing about things I don’t know or care to act upon. Of course I invested in my thesis. I just didn’t invest enough. Like magic, every single name ramped higher by 15-25% within three weeks after publication while the broader markets climbed 2%. It was almost as if someone got a hold of my article and forwarded it around, causing a buying frenzy. If there’s a chance this is true given the number of visitors to my site, is there any wonder why hedge funds keep their holdings as close to their chest as possible? Because of the fast ramp higher I was not able to accumulate as much as I would have liked. Since publishing my post on China, my IRA grew by roughly $40,000. Sounds OK right? Not really since I started off with $400,000 at the end of April. I will usually take a 10% gain for the full year any day. However, a 10% gain is a 5-15% underperformance of my stock picks, equating to roughly $20,000 to $60,000 in money left on the table. So what the hell happened to cause such a leakage in performance you ask? Ill-timed accumulation and exiting of positions as well as FEAR. Remember, I am the King of bad trades. The below chart shows the value of my IRA portfolio today. The pending activity is pending cash as a result of stock sales as I’m continuously worried about a market correction. At the same time, I’m not willing to place massive short bets either because the market is being artificially propped up by the Fed. Current IRA portfolio. MY IRA PORTFOLIO BEFORE THE BAD TRADES You might be thinking I’m being greedy for being disappointed with a $40,000 gain within a month. And you’re right. I have made similar amounts of money trading in the past so $40,000 is not that unusual, even in this short time period. It’s all relative at the end of the day. What really gets to me is leaving so much money on the table. With $20,000 -$60,000 I could go around the world on a luxury cruise for three months. I could get 13 year old Moose some fresh new tires and spark plugs. If I wanted to cheat on Moose, I could get a nice new 2013 Nissan Sentra for $20,000 or wait to get the new 2014 BMW 335i couple coming out this fall for $60,000. I could even treat myself to some fresh ramen noodles instead of always buying the $2 instant stuff I’ve been eating as punishment for being unemployed. Here’s another kick in the nuts. My portfolio over $450,000 just a couple weeks ago! The high was actually closer to $455,000 but I failed to take a snapshot that one fine day. The fact that the markets have moved up over the past two weeks while I proceeded to lose ~$15,000 from the top is a maddening experience. As you can tell from my positions, I take very concentrated positions with Apple at one point account for $178,366.50 or 40% of my entire portfolio. SO WHAT THE HELL HAPPENED? So what on earth made me bleed out $15,000 in a couple weeks? I want to share with you in as visceral a writing style as possible an inside look on how a neurotic trader’s mind works. * Apple scared me stupid. Apple has had quite a rebound after hitting a low of $385 before announcing their 2Q results. I went relati

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some stellar articles on budget travel tips you haven't heard, how to stop living paycheck to paycheck, and how today's grads can beat the odds. Top 5 Articles 5 Budget Travel Tips You Haven't Heard Before — When trying to travel on a budget, ask about repositioning flights or cruises. [US News & World Report] Are You Living Paycheck to Paycheck? Here's How to Get Out — If you want to stop living paycheck to paycheck, put your credit cards away for good. [Young and Thrifty] How Today's College Graduates Can Beat the Odds — To beat the odds, today's college graduates can have an emergency fund to help them if they lose their job. [Consumerism Commentary] Disadvantages of Taking College Classes Over The Summer — One of the big problems with taking college classes over the summer is you lose out on money you'd make working a summer job. [20's Finances] Eight Smart Alternatives to Payday Loans — Instead of getting a payday loan, ask your boss for overtime or sell what you don't use. [Len Penzo dot Com] Other Essential Reading 10 Smart Tips to Curb Your Bad Interrupting Habit — Practicing impulse control can help you curb your bad interrupting habit. [PopSugar Smart Living] 5 Things YOU Should Be an Expert At — Make it a point to be an expert at learning from mistakes. [Marc and Angel Hack Life] 10 Easy Ways to Make the Farmer's Market Fun for Kids — If you want to make visiting the farmer's market fun for your kids, give them a little money to spend. [Parenting Squad] 6 Ways to Improve Relationships by Tackling Self-Consciousness — Recognizing where your flaws are helpful can help you improve your relationships. [Dumb Little Man] 7 Mistakes You're Making by Overthinking Your Productivity — Overthinking your productivity can cause you to overplan or create too complex of a system to get things done. [Time Management Ninja] ShareThisWritten by Ashley Jacobs and published on Wise Bread. Read more articles from Wise Bread.Best Money Tips: Balance Multiple Jobs Without Losing Your Mind Best Money Tips: Best Ways to Save Money for 2013 Best Money Tips: How to Juice on a Budget Best Money Tips: Pay Off Student Loans Now Best Money Tips: Make Money Through Spring Cleaning

After looking at the list of best available washers, it’s only natural to dig into possible dryers to accompany your new washing machine. Buying a dryer is generally a simpler process than purchasing a new washer. The main differences to look for are how the machine heats the air and how they determine when your clothes are dry. What Is a Dryer? A dryer is a cleaning appliance used to remove moisture from clothing that has just been washed. Dryers work by having heated air circulated through a rotating tumbler. Dryers can heat the air in one of two ways — by gas or electricity. Gas dryers are typically a bit more expensive than electric ones; however, long-term fuel savings usually make up for the additional cost. The other factor to consider when purchasing a new dryer is how the machine determines when your clothes are dry. Traditionally, dry time has been determined through the use of a thermostat, but newer dryers come equipped with a moisture sensor that is more accurate, thus saving energy as well as being easier on fabrics. Best 5 Dryers Samsung DV456GWHDWR Considered a Best Buy from Consumer Reports, the Samsung DV456GWHDWR comes equipped with a moisture sensor and a large capacity tumbler, and it is relatively quiet. Other special features include custom programs that give you further drying options and a drum light to help you find missing clothing. Currently $1,069.49 on Amazon Marketplace. Samsung DV520AEP Recommended by both Consumer Reports and Good Housekeeping, the Samsung DV520AEP also excels at drying both medium and large loads quickly and evenly. Aside from the usual high-class dyer features such as a moisture sensor, electronic controls and quiet operation, this Samsung model also has a capable steam cycle that works well to de-wrinkle clothing. Currently $1,433.00 on Amazon. Maytag Centennial MGDC300XW Considered an excellent budget dryer, this Maytag Centennial doesn’t have all of the bells and whistles of some of the other models featured here, but it does contain the most important one: a moisture sensor. Aside from that, it features traditional dial controls and an interior light. Users praise its drying performance, carrying capacity, and value. Currently $699.00 at Home Depot. Whirlpool WED4900XW Another well-reviewed budget dryer, the Whirlpool WED4900XW also comes equipped with a motion sensor, which many agree is its most important feature. This dryer also comes with wrinkle prevention, drum light, and 13 cycle settings. Although it doesn’t perform as well in terms of noise level, its overall drying performance has been well-reviewed. Currently $574.99 on Amazon Marketplace. Maytag Bravos X MGDX700AG Another Best Buy from Consumer Reports, the performance of the Maytag Bravos X MGDX700AG is comparable to the other top models featured in this article. The moisture sensor, excellent drying performance, and quiet operation have been tested through consumer research experts. Currently $969.99 on Amazon Marketplace. And there you have our recommendations for the best five dryers. Be sure to check out the Wise Bread Shopping Calendar to learn when and how to buy just about anything! ShareThisWritten by Jeffrey Pu and published on Wise Bread. Read more articles from Wise Bread.The 5 Best Washing Machines The 5 Best Sewing Machines The 5 Best Toaster Ovens The 5 Best Juicers The 5 Best Blenders

(Guest post by Joel from Save Outside the Box) Want to go do something really fun but you’re just flat out broke? I’ve been there. Here are some options that’ll only set you back a single George Washington for those of you that are monetarily challenged, or just cheap as hell. 1. Attend a major league baseball game. What!? That’s possible? Oh yes. America’s pastime is back in session and a few major league ballparks around the country offer $1 seats to catch a game. One of the teams that offers this is the Atlanta Braves – they open up 186 seats 3 hours prior to every game for fans to catch some action for a single greenback. The Washington Nationals also offer $1 seats on certain Monday night games. Bring your first aid kit though, there is a chance of a nosebleed in these seats. Is one dollar too steep for you? Go to a San Francisco Giants game. They have a hole in the outfield wall called “the knothole” where fans can catch a few innings of a game for free. If you don’t have a major league team near you check out a minor league game. The farm teams are famous for their antics to draw a crowd. 2. Explore a new city. With the cost of gas these days you can barely afford to get to the end of your driveway for a buck. You can however, visit a new city that is hours away. No joke. Megabus and Bolt Bus are coach style bus services that are quickly expanding around the country offering $1 seats on every trip they make. Here’s the scoop – every seat isn’t a dollar but, if you book far enough in advance (about 3 months), you can snag those ultra cheap seats. I’m pretty sure there isn’t a better travel deal in the world. I’ve been to Memphis and New Orleans via $1 Megabus seats and plan on hitting up some other great nearby cities in the future. They also offer free wifi to help you avoid complete boredom. 3.Watch a movie in the theater. Dollar theaters didn’t go extinct with the dinosaurs. I enjoy seeing epic movies in the theater, especially ones with great visual work. But damn, I can’t afford the snack bar at movie theaters these days, much less the exorbitant ticket prices. So do an internet search for a dollar theater near you. You’ll have to wait an extra month or two to see the movie you want but you’ll pay roughly 90% less. Now that’s what I’m talking about. 4. Watch a movie at home. I’m sure you know about Redbox – but their movies are actually $1.20 now so it can’t make the list, right? Wrong – with promotional codes you can rent even cheaper Redbox movies. I don’t ever rent a movie for full price anymore. Here is a list of promo codes to try when making your selection. You can sign up to receive text messages from Redbox with codes for free and discounted rentals too. By the way, your local library probably has some great free DVD rental options as well. I hope these ideas help you find ways to have some really fun experiences for just a buck. What type of cheap entertainment do you enjoy? ——- About Joel: Saving money is in my blood. My family went through some tough financial times in my formative years and that has shaped the way I view and handle money. Saveoutsidethebox.com is where I share my tips for living life to the fullest on the cheap. I also have a day job working on the Clark Howard Show where we are all about consumer empowerment. [Killer photo by cliff1066™]

We all want what’s best for our children, and we want to make sure that they are able to get the best possible education. However, the cost of higher education is going up, and it can be difficult to save up to cover those costs. This is where something like the RESP can help a great deal. You have the chance to take advantage of the power of investing and compound returns with a tax-advantaged account used for the benefit of your child. What is an RESP, and How Does it Work? A Registered Education Savings Plan (RESP) allows you to save for a child’s post-secondary education. You place money in the account, and it grows overt time. When your child is ready to attend university, he or she can withdraw the money to help pay for costs. You can start saving for your child right from birth, you just need to get a Social Insurance Number for your child first as the RESP will be registered to that SIN. You can learn more about how to open the RESP for your child at CanLearn. One of the great things about the RESP is that a number of people can contribute to the account. Grandparents, friends, and others are allowed to make contributions on behalf of your child. If you are comfortable with this strategy, you can ask friends and family to contribute to the RESP on behalf of your child, rather than giving them toys and gadgets for birthdays and holidays. RESPs are similar to RRSPs or TFSAs in that they can include various investment products in a government plan to shelter tax and encourage saving. It’s important to note that you don’t receive a tax deduction for your contribution to the RESP, though, as you would with the RRSP contribution. Your RESP is more like a TFSA in this regard: You do not get a tax deduction when you contribute, but there is no tax withheld when you withdraw the money. How Much Can You Contribute to the RESP? RESPs have a lifetime contribution limit for each child of $50,000. There is no annual contribution limit, so you can add money in a way that is convenient to you, as long as the lifetime contributions (from all parties adding to the RESP) does not exceed $50,000. However, even though you don’t need to worry about mandated contributions and limits, it does make sense to use $2,500 as your annual goal due to the Canada Education Savings Grants (CESG). The CESG is a grant equal to 20% of your contribution, up to $500 each year. The lifetime maximum of the grant is $7,200 per child. Because of this $500 grant limit, you should consider only contributing the $2,500 a year necessary to receive the grant. What if your child does not complete a post-secondary education? After the age of 21, you can transfer up to $50,000 to your own RRSP. You do have to return the grant money, though. Looking for a simple, diversified portfolio to use in a Registered Education Savings Plan? I suggest an even split of these four TD e-Series Funds I’ve mentioned previously. As an example, you could contribute $100 every 2 weeks, $25 into each index fund. With the right plan, you can save up for your child’s education, making his or her university experience more manageable in terms of cost. What is a Registered Education Savings Plan (RESP)? appeared first on Canadian Finance Blog. Related Posts: Alberta Centennial Education Savings (ACES) Plan What Is The Registered Disability Savings Plan? (RDSP) Book Review – The RESP Book

Flickr | http://www.flickr.com/photos/sourmash/4446554343/ Believe it or not, 2013 is almost halfway over, and if you’ve been struggling to keep up with your daily tasks, workload, or finances, it’s time to get organized! Living in a digital age certainly has its perks, with specific apps created to help you get through your day, in a hassle free way. As a smartphone user, I’ve chosen some apps I personally use on a regular basis, as well as others that have been well-received by users. Another added bonus for these apps — they’re free! Check out the following 11 apps that will make certain headaches in your life much easier to deal with. Related Stories: PerkStreet Unveils New Savings Account, App 3 Finance Apps That Are Way Better Than Mint Expense-Tracking Apps Are My New Favorite Things Live Hassle-Free: 11 Must-Have Apps of 2013

Usually, the only warm-blooded creature in the house that ever bothers to get up and acknowledge me when I come through the front door is my dog, Major.So I knew something was wrong when I walked through the door and the Honeybee greeted me with a big kiss.Needless to say, I cut right to the chase: "OK, what happened?"Read 25 remaining paragraphs on MoneyTalksNews.com.

Here's our very first Reader Profile Update. Many of you asked for this type of post -- a progress report on where past Reader Profile readers are these days financially. I think you'll really enjoy this.Today's post is from Mark, who gave us his reader profile over two year's ago. Here's his update: I wanted to tell my bankruptcy story because I think we can sometimes learn more from failure than from success. And I have to admit, I'm getting bored with reading personal profiles on FMF. I also wanted to talk about my bankruptcy because I think it really demonstrates that wealth building requires a certain amount of intellectual, emotional and psychological fortitude that a lot of people simply don't have. While it can be acquired, I think the posts on FMF demonstrate that people with certain personality types and personal backgrounds are much more likely to acquire and implement this knowledge than others. You'll notice the prevalence of engineer profiles on FMF...I don't think that's a coincidence. Most engineers are the INTJ Myers-Briggs personality type, and this personality type tends to be very good at saving and investing and preliminary case studies suggest INTJs are one of 3 personality types likely to retire early and be happy with the decision. See this link for details. http://www.retireearlyhomepage.com/mbti.htmlFor the record, I am also INTJ. For those of you who don't know about the Myers-Briggs personality types, you can read about them here.And you can take the test here.My original profile appeared on this blog on 4/26/11 and I'm happy to report I continue to make progress saving & investing. I would say the seeds of my bankruptcy were sown when I moved more than 2000 miles away from home to go to college. The primary motivation for going to college out of state was that I knew I was gay and I wanted to do my own thing (on my parents' dime of course!) without them knowing about it. I also grew up in a cold winter climate and it was nice to move somewhere with warm weather! So, as you can see, I had some pretty unrealistic expectations / motivations / issues right from the start. Within 6 months, I met an older guy who seemed to have answers to a lot of the spiritual aspects of life that I was curious about and we ended up moving in together, motivated largely by the fact that he'd lost his job and was living with a kinda trashy roommate. (Red flag right there, I know). Toward the end of my first year of college, my parents had found out I was gay and about a month later they discovered I was living with a guy who was ~ 20 years older than me and they flipped out (This was the late '80s and his voice was on my answering machine....DUH...I know). Long story short, they were still kinda freaked out that I was gay, and when they found out I was living with some guy 20 years older than me it put them over the edge. Drama ensued and they cut me off financially. I got a job and went to school part time. He had just started his own business that had a lot of ups and downs that he didn't know how to deal with. I was freaked out because my income wasn't enough to support myself, let alone him and I was trying to get through school. After about 1.5 years he ended up getting in over his head with business and personal expenses he couldn't pay, we ended up putting his business in my name. I know. Horrible idea. I went along with his "It'll be different this time" line of thinking out of fear, I think. I didn't feel like I had any better options at the time. That may not have been true, but as the saying goes, perception is reality. By the time I was 21 years old, about three years after we met, we both ended up declaring bankruptcy, primarily because of overwhelming business and personal expenses we just couldn't pay. In general, there was a lot of tension because I was more of a saver and he was a spender. He would do stuff like go out to eat even though we didn't know where the rent money was going to come from. This wo