Personal Finance

Join our Tweetchat this Thursday at 12:00 p.m. Pacific/ 3p.m. Eastern for lively conversation and a chance to win a $200 gift card or one of two $50 gift cards! Use #WBChat to participate. This week's topic: Credit Usage: Men vs. Wome...
Join our Tweetchat this Thursday at 12:00 p.m. Pacific/ 3p.m. Eastern for lively conversation and a chance to win a $200 gift card or one of two $50 gift cards! Use #WBChat to participate. This week's topic: Credit Usage: Men vs. Women! Learn who has better credit scores, higher levels of debt, and who is more likely to miss mortgage payments between men and women. Tell us how often you use your credit cards and what you think everyone can do to improve their financial standing! For an easy way to keep track of the conversation, try using our special Tweetchat Chatroom. Anyone can participate, but you must be following @WiseBread and RSVP below to win our prizes! First place: $200 Amazon GC Second place: $50 Amazon GC Third place: $50 Amazon GC Winner must be US resident 18 or older. Winners are randomly selected and announced within 1 day of the chat. To make it easier for us to keep track of attendees and pick our winners, please RSVP below with your twitter ID (put that in the "Link Title" field), email address, and your twitter URL (put that in the "URL" field, do not put your blog's url in there). Winners will be selected at random from RSVPs. If a winner is chosen who RSVPed but did not attend a 2nd winner will be chosen. This Week's Chat is Sponsored by Experian This week, Experian is sponsoring $300 in prizes for our chat! They will be joining our chat (tweeting from @Experian_US) and sharing statistics from their recent analysis on credit usage differences between men and women! Details on their analysis including an infographic can be found at LiveCreditSmart.com. More About Experian Here's a message from our sponsor: “At Experian, we’re working to promote greater financial health and opportunity among consumers by helping them understand, manage, and protect their personal information. The Great Credit Divide study highlights the financial differences between men and women and is an opportunity for consumers to better understand how credit works so they can make informed financial decisions. If you’re interested in learning more about the Great Credit Divide study and how you can build a great credit history – check out www.LiveCreditSmart.com. You can join our Wednesday credit chats at 3 p.m. EST on Facebook.com/ExperianUS and Twitter @Experian_US ( #creditchat) with our credit experts Maxine Sweet and Rod Griffin to get your specific questions answered too. “ New Parenting Chat Immediately Before #WBChat Our sister blog Parenting Squad (@ParentingSquad) will be hosting a parenting chat every Thursday at 11:00 am Pacific. Drop by for fun parenting conversations and a chance to win prizes! Use #PSChat to participate. ShareThisWritten by Ashley Jacobs and published on Wise Bread. Read more articles from Wise Bread.Join Our Tweetchat on Thursday 1/17, 12pm PST for a Chance to Win $300 in Prizes! Join Our Tweetchat on Thu 9/8, 12pm Pacific for a Chance to Win Prizes Join Our Tweetchat on Thu 11/3, 12pm Pacific for a Chance to Win Prizes Join Our Tweetchat on Thu 3/8, 12pm Pacific for a Chance to Win Prizes Join Our Tweetchat on Thu 12/20, 12pm Pacific for a Chance to Win Prizes
about 2 hours ago
Who says women aren't good at math and money? People who can't read, that's who.A new study from one of the major credit reporting bureaus, Experian, says, "Overall, women are better at managing their money and debt" — even though women ...
Who says women aren't good at math and money? People who can't read, that's who.A new study from one of the major credit reporting bureaus, Experian, says, "Overall, women are better at managing their money and debt" — even though women working full time earn about 23 percent less than men.Experian used 750,000 credit reports from its database in December for the analysis. Here's some of what it found:Read 3 remaining paragraphs on MoneyTalksNews.com.
about 4 hours ago
Once a month, our banks and credit card issuers send us a statement in the mail (or online) outlining every single item that we spent our money on over the last month. We can see a big list of the checks we wrote, the stores we swiped o...
Once a month, our banks and credit card issuers send us a statement in the mail (or online) outlining every single item that we spent our money on over the last month. We can see a big list of the checks we wrote, the stores we swiped our card at, the online shops we conducted business with – all in one place. There was a time when I dreaded seeing these statements. They were evidence of how poorly I was managing my finances. I’d glance at them, try not to think about them, and toss the envelopes into a storage box “to look at later” – meaning “to forget about… or at least try to.” As I began my financial turnaround, these statements turned into a source of pride. I loved seeing my ending balance on my checking account, comparing it to my starting balance, and feeling good about that increase. I loved looking at my credit card statements and seeing the opposite – a lower ending balance than a starting one. Today, I see those statements as a tool – one that I’ve turned into a game of sorts. Those statements are among the best helpers I have in keeping my spending in shape and helping me to avoid repeating spending mistakes. The process is simple. Whenever I get a statement in the mail – a bank statement or a credit card statement – I walk through it line by line. I try to identify every single item that exists on that statement. What did I buy with this $28.92? What is this $9.96 on here for? What I’m trying to do is identify all of the purchases I made that gave me little or no lasting value. If I spent money on something that wasn’t a life essential and didn’t give me lasting value, I probably spent that money for a pretty dumb reason. I didn’t need to spend that $6.42 at the gas station to buy beverages. Why did I do that? Why didn’t I just fill up some water bottles or juice bottles before we left? What on earth did I even buy when I spent $18.92 at Books-A-Million? It was probably a book… but I am not even sure which book I bought. That’s a pretty dumb purchase. I could have just checked out a random book at the library and received the same value. I spent $49.95 to renew that magazine for another two years? I have seven back issues of it sitting on the end table unread! I need to cancel that subscription… and if I can’t, I need to set up a reminder to poke me in about twenty months to cancel it then. The goal of this isn’t to beat yourself up. It’s to identify the purchasing mistakes you made and think about them so that you don’t repeat them. No one is perfect. We all sometimes buy things that we really didn’t need to buy. I’m a sucker for books, for example, as well as board games. The thing is, I know I’m a big sucker for those things because I constantly bear witness to my spending mistakes. I know to be wary in any situation where I might be buying a book or a board game. I also know lots of things that I simply shouldn’t ever spend my money on. It’s a waste of my money to buy gas station beverages when I could just spend two minutes before we leave to fill up some bottles for everyone. It’s a waste of my money to ever purchase a Bluray disc, because I’ll probably only watch it once and, if that’s the case, I can just rent it via Redbox for $1.50. Seeing those mistakes on that statement provides a simple way to reinforce the good decisions and knock down the bad ones. That way, each statement is a little better than the last one. Over time, they contain more and more decisions I don’t regret and fewer and fewer decisions that I lament. That’s progress, one little step at a time. The post The Statement Game appeared first on The Simple Dollar.
about 5 hours ago
chicagogeek / Flickr | http://www.flickr.com/photos/chicagogeek/8280404628/ The excess withdrawal fee is associated with savings accounts, and the fee is in place to prevent customers from withdrawing money too frequently from their acco...
chicagogeek / Flickr | http://www.flickr.com/photos/chicagogeek/8280404628/ The excess withdrawal fee is associated with savings accounts, and the fee is in place to prevent customers from withdrawing money too frequently from their accounts. Since savings accounts collect interest, they’re not meant to be accounts with frequent withdrawal activity, and the federal government has laws in place to prevent that from happening. Under Federal Regulation D, you’re only allowed to withdraw from your savings accounts a maximum of six times a month, beyond which banks are allowed to either levy a fee, or if you violate the rules too many times, they can close your account altogether. Federal Regulation D limits all outgoing transfers from savings and money market accounts to six per month, but does not have restrictions on the number of incoming transfers. Outgoing transfers include any transfers made through online banking, telephone banking, as well as ATM withdrawals. Each bank varies on their excessive withdrawal policies, ranging from charging a small fee after a certain number of withdrawals, to charging a bigger sum, to not charging anything at all but retaining the right to close down an account due to excessive transfers. See what the largest American banks charge for excessive withdrawals in the table below. Comparing Excessive Withdrawal Fees Bank Fee Bank of America $3 after 3 withdrawals Chase $5 Wells Fargo $15 Citibank $0, but account is subject to close after 3x's over the withdrawal limit in 12 months U.S. Bank $15 Capital One $10 SunTrust $15 per withdrawal after 6 TD Bank $15 PNC $3 for each withdrawal over 3 withdrawals BB&T $15 Savings Accounts: 6 Things You May Not Know Related Stories: Simon Says: How to Calculate the Average Daily Balance How to Identify Hidden Treasures in Your Home The Cash Registers of the Future What Are Excessive Withdrawal Fees and Federal Regulation D?
about 6 hours ago
Continued training is a major part of many professions.Doctors, attorneys, accountants, pharmacists, financial professionals, engineers, and many other careers have professional organizations or legally mandated oversight bodies to ensur...
Continued training is a major part of many professions.Doctors, attorneys, accountants, pharmacists, financial professionals, engineers, and many other careers have professional organizations or legally mandated oversight bodies to ensure that folks are hip on new development and skills.You’d hope your doctor knows the most advanced procedures or at least outmoded procedures that shouldn’t be performed.So why doesn’t this logic crossover into driving? Just as, industry standards can change necessitating updates for industry people, standards on the road can change necessitating drivers to learn the new do’s and don’ts. Below are the top 3 reasons that even if you’re over 55 and “know how to drive,” it’s worthwhile to take a defensive driving course. InsuranceSome states allow insurance companies to lower premiums for customers as an incentive to take defensive driving courses, as much as 15 percent in some cases. Insurance companies do this for two reasons: 1) It reduces the chance that drivers will be in an accident, and 2) It, therefore, saves lives and money.Defensive Driving for YouDon’t worry, taking a defensive driving class doesn’t mean being the oldest goat in a room full of young, dumb college bros who all drive used Chevy trucks. Not wasting time on rudimentary material, these courses offer a refresher and introduction to new rules and techniques that’ll enhance your skill as a driver. For instance, did you know that due to the ubiquity of airbags and modern understanding of ergonomics the proper hand position on the steering wheel has moved from “10 and 2” to “9 and 3” or “8 and 4”?Don’t Be ComplacentWhen was the last time you had to take evasive action to avoid impending doom behind the wheel? How confident are you in your ability quickly to maneuver. Regardless, of how you answered those questions it never hurts to practice driving defensively. There are driving courses that focus on real-world training, getting drivers comfortable with being aggressive when they need to be to avoid possible danger. Also, keep in mind, it’s an excuse to relive some old hot rod days and drive like a crazy person (safely, of course) through the course. Times they are and already have been changing.Think of all the changes in the world, like, when you first got your license and today. Is it that unreasonable to think that you’d benefit from a defensive driving class for experienced drivers? After all, you wouldn’t trust a doctor whose advancement in medical knowledge stopped after graduation 40 years ago. To keep your skills up at anything, driving included, you have to put the time into it. It’s widely accepted that defensive driving classes reduce accident rates, can lower your insurance, and hone your driving skills, so in the case of defensive driving courses it’s a no-brainer.
about 6 hours ago
Depending on the size of your family, you could spend $400 or more by eating each meal out during a five-day road trip. Considering that you must already pay the inflated price of gas, that could be an added expense you simply can’...
Depending on the size of your family, you could spend $400 or more by eating each meal out during a five-day road trip. Considering that you must already pay the inflated price of gas, that could be an added expense you simply can’t afford. Instead, consider packing your own food. By bringing meals and snacks [...]13 Healthy Meals & Snacks to Bring on Your Next Road Trip or Vacation is a post from the Money Crashers personal finance blog.       
about 7 hours ago
Whether it be anniversary gift ideas, gift ideas for boyfriend, gift ideas for girlfriend,  christmas gift ideas, gift ideas for men, gift ideas for women, mothers day gift ideas, fathers day gift ideas, wedding anniversary gifts, weddin...
Whether it be anniversary gift ideas, gift ideas for boyfriend, gift ideas for girlfriend,  christmas gift ideas, gift ideas for men, gift ideas for women, mothers day gift ideas, fathers day gift ideas, wedding anniversary gifts, wedding gift ideas, graduation gift ideas, birthday gift ideas, green gift ideas, last minute gift ideas, retirement gift ideas, and the list goes on and on. It seems that we always need to be be thinking up gift ideas for all of those around us. There is a whole lot of gift giving going on. So how can you stay on top of your budget when the demand for giving gifts is so great each year?  Do you announce to your family members and friends that you’re going on a spending freeze and can’t afford to give presents this year or do you go a whole new route and learn how to give gifts on the cheap? I’ve always been a giver.  In fact, I enjoy giving more than I do receiving.  That’s why it was hard for me to completely give up giving gifts when I started living on a strict budget.  Rather than forgo celebrations, I approach them in a much more frugal way than before. cheap gift ideas Here is how you can give gifts without putting a dent in your bank account: Create a budget for gifts and stick to it.  Just like any other area of finance, your spending can be out of control.  With so many reasons to celebrate, it can become very easy to buy more than you can afford.  Rather than go broke buying gifts for your relatives and friends, set an amount for this expenditure and stick to it.  When you’re out of money, you simply stop buying gifts. Shop clearance bins, yard sales, and thrift stores.  You can find a wide variety of items that make great gifts for cheap by shopping around.  The sooner you start looking for items the better.  You never know when the perfect gift will wind up on clearance at your favorite retailer or be sold for mere change at a yard sale.  Things are only as valuable as you believe them to be.  If someone doesn’t want it in their home anymore, they’re likely to get you a great deal on the item that you’re interested in purchasing. Create a handmade gift.  Use your talent to make a one-of-a-kind gift.  If you’re a baker, create a loaf of banana or pumpkin bread.  If you’re a photographer, frame one of your best shots.  If you make jewelry, create a signature piece with the supplies you have on hand.  A little creativity goes a long way in making a meaningful gift. Earn points and trade them in for gift certificates.  There are plenty of credit cards that allow you to earn points and trade them in for gift certificates. Here is a list of some of the best incentive credit cards for you to check out.  After you start spending you can build up a you can use you incentives balance to purchase a gift.  If you don’t have a clue what to get, give the gift certificate with a sentimental card.  Letting someone else pick their own gift is often ideal. There are plenty of ways to give gifts on the cheap and as you just take some time to think about it the cheap gift ideas will start flowing.  You don’t need a black card to treat the people in your life well.  By planning ahead, scoping out sales, and making use of points programs, you can extend your gift giving budget by a lot.
about 9 hours ago
Barbecue season is almost upon us. Before you fire up the grill, though, better reassess your budget. The wholesale price of USDA cuts of choice beef hit all-time highs earlier this month, and the costs for ground chuck, chicken and othe...
Barbecue season is almost upon us. Before you fire up the grill, though, better reassess your budget. The wholesale price of USDA cuts of choice beef hit all-time highs earlier this month, and the costs for ground chuck, chicken and other common grill staples have also been rising. These eight strategies will let you barbecue to your heart’s content and still have money left over to burn: Consider a used grill “There are dozens and dozens of gently used grills on Craigslist,” says grill collector Troy Redington, the founder of WeberKettleClub.com. “Used Weber charcoal grills are often posted for $20 or less, sometimes even free.” A replacement grille might add another $20. Hold off on new gear If you really want a new grill, wait until later in the summer. “The beginning of the season is not the best time to buy a grill,” says Kendal Perez of CouponSherpa.com. “Hold off until August when stores are eager to rid their floors of seasonal inventory.” Watch for meat markdowns “Ask your butcher what time of day they typically mark down meat,” says Jeanette Pavini, a consumer savings expert for Coupons.com. “This is generally overstock or meat ?approaching its sell by date, but it is still possible to stock up if you ?freeze it immediately,” says Pavini. Markdowns usually happen either in the morning or at night, but some stores cut prices twice, she says. Load up the grill Veggies, fruit, bread, desserts — you can grill them all. So as long as you have the grill fired up, take advantage. Stock up during sales “I stock up on steaks when ‘choice’ is featured on the front page of the sales circular,” says Teri Gault, chief executive of TheGroceryGame.com. That’s usually 50% off the regular price. For charcoal, holiday weekends including Memorial Day, Labor Day and July 4th often have the best sales, Redington says. “Stores like Home Depot and Lowes will offer twin-packs of 15- or 20-pound bags for a price equal to or lower than the price of a single bag,” he says. “Buy a year’s worth!” Turn trash into treasure Home cook Greg Palomino gets his pecan and oak wood for smoking from the trimmings neighbors cut down and leave curbside for “brush pick up days.” “It seems weird, but in Texas — home of the best BBQ — some of that wood ?through a re-seller can be $10 per six pieces, which may only last two to four hours,” he says. He adds, “?I save about $50 to $100 in wood when I wait for those days.” Pick the right cuts Usually, a large cut of meat will be cheaper than the same amount cut into ?smaller pieces, Pavini says. (A whole chicken, for example, is often cheaper per pound than boneless breasts.) Redington says cheaper cuts often work well on the grill. Among his favorites are chuck-eye steaks (“They have a lot of marbling, which translates to lots of great flavor.”), pork butt steaks (“They’re considerably cheaper than the center-cut pork chop, and they’re also less lean, which means they won’t dry out as easily.”) and pork butts (“If you’re entertaining a big crowd, you’ll get the most meat for your money.”). Soak wood chips It’ll get the most smoke out of them, says Jay Ducote of BiteandBooze.com. “Soaked chips won’t burn as ?quickly and will produce more smoke for the meat,” he says. He continues, “If you don’t soak your ?chips, they’ll burn too quickly, meaning you’ll have to throw more money on ?the fire.” Frugal Foodie is a journalist based in New York City who spends her days writing about personal finance and obsessing about what she’ll have for dinner. Chat with her on Twitter through @MintFoodie.
about 9 hours ago
Flickr | http://www.flickr.com/photos/28122162@N04/5777171060/ Memorial Day: the one day every year we come together as a nation to honor the men and women who fought for this country. Filled with tradition and festivities, this weekend ...
Flickr | http://www.flickr.com/photos/28122162@N04/5777171060/ Memorial Day: the one day every year we come together as a nation to honor the men and women who fought for this country. Filled with tradition and festivities, this weekend has long been felt as the unofficial start to summer. Millions of Americans will head to the beach this weekend, while others may take advantage of all the great shopping deals out there. No matter what you decide on, make sure you get some great food, ice-cold drinks and enjoy the weather. This weekend calls for some great times and memories. We list five frugal ways (and some delicious recipes) for you to enjoy this weekend and kick start your summer with your friends and family. Related Stories: Money Chat: What Was Your Best and Worst Money Decision? Travel Prices are Going Up This Summer The 5 Coolest Summer Jobs You Wish You Applied For 5 Frugal Ways to Celebrate Memorial Day Weekend
about 9 hours ago
[The following is a guest post from Chloe Mulliner. She is a writer and editor for CreditSources.org, a website dedicated to information regarding personal loans and all things credit.] A recent 2013 Consumer Federation of America and V...
[The following is a guest post from Chloe Mulliner. She is a writer and editor for CreditSources.org, a website dedicated to information regarding personal loans and all things credit.] A recent 2013 Consumer Federation of America and VantageScore Solutions survey of 1022 Americans uncovered that many adults don’t know much about their credit scores. The results revealed that between roughly one-quarter and two-fifths of the survey subjects were unable to correctly answer credit related questions ranging from who collects credit information to what affects credit scores. So if this were a battle of the sexes, who scored better, men or women? The survey results showed that women consistently answered more questions correctly than the men. Overall, according to the survey, women have a better understanding of what contributes to credit scores and the importance of checking them. For starters, more women (74%) than men (68%) realized that credit bureaus are responsible for collecting consumers’ information for credit scores. And when it came to the factors that these credit bureaus use to determine credit scores, only 38% of women believed that age affected their scores, while 48% of men thought that age had some value. Similarly, just 34% women thought that marital status could contribute to one’s score compared to 46% of men who believed marriage played a role. Just to get the facts straight, yes, credit bureaus report consumers’ information, but they do not use age or marital status to calculate the scores. Typically, the only way that a couple’s marriage will affect their individual credit scores is if they have joint accounts. Missed payments and current balances on a joint account will appear on both of their credit reports. As for identifying a good credit score over a bad credit score, 36% of women were more in the know than just 29% of men who understood the differences. Generally credit scores range between 300 and 900, depending on the scoring system, but the higher the credit score, the better the score. Although the women took the lead in correctly answering the majority of questions, the men did have better luck than women when questioned about credit repair companies. Only 32% men believed in the legitimacy of credit repair agencies compared to the 40% of women who saw these agencies as helpful. Men, more than women, understood that consumers need to remain skeptical of the services that credit reporting agencies offer. Regardless of whether the women outdid the men or not, these statistics are rather alarming considering how much consumers’ credit scores can affect their financial lives. The results of this survey reveal that both men and women need to brush up on their credit scores and realize the importance of maintaining good credit scores. [Editor's Note: I have to stand up for my fellow men here who thought that age had some value in a credit score. Credit scores take into account the age of credit accounts. This means that younger people are at an inherit disadvantage and that disadvantage is reflected in a lower credit score on average. Also it's interesting that when the men perform better, it's attributed to "luck." Grrrr...]
about 10 hours ago