Best Money Tips: NPR Explains Financial Mess in Terms the Average Joe Can Understand
Welcome to Wise Bread's Best Money Tips roundup!
NPR gives the best explanation of the economic collapse. Two programs on NPR explain the situation using great analogies anyone can understand. If you know how Vegas bookies work, you can understand credit default swaps. Fresh Air and This American Life
Can you travel for less than you live on at home? "Factoring in my flight, insurance and gifts, I actually spend less on a regular basis while traveling than I do in New York." Emma Johnson, MSN Money
Dave Ramsey's plan to fix the credit crisis. Instead of a bailout, Ramsey advocates removing capital gains tax and insuring the underlying subprime mortgages with a FHA-type insurance. All Financial Matters
Watch out for this grocery pricing trick. Mighty Bargain Hunter asks what's wrong with this picture:
"DiGiorno’s Pizza — 5 for $3.99 each"
Are you getting paid for what you're worth? Use these online tools to compare your salary with your peers. Get Rich Slowly
How to find a good financial adviser. "A really good financial planner will always look towards structuring your financial and personal situation first." Free Money Finance
The 3 biggest risks of retirement. Longevity, inflation, and market changes are the key risks -- diversification is the way to diffuse them. Five Cent Nickel
The stock market is on sale. "Because I believe this economic crisis will end within the next few years or sooner, I took today’s 777+ point decline in the Dow and 8.8% decline in the S&P 500 as a sign that the stock market, as a whole is on sale." Consumerism Commentary
How I live without borrowing money. "It’s been four years since I borrowed money or used a credit card. Here’s how I live without borrowing money." No Credit Needed
6 simple steps to creating a to-do list. "Consider the list as a planning tool, an anti-anxiety device (if it’s on the list you won’t forget it), a push in the behind to get the engine started, and a rationale in the name of getting something done. Grace Kepplin on Dumb Little Man
Personal finance management on a biweekly pay schedule. "My last job paid me every two weeks, and I know quite well some of the traps people can fall into…" The Simple Dollar
Wait one day for every $100 you might spend. "A friend of mine has had a series of status updates on Facebook regarding an iPhone. Every few days he lets us know that he’s successfully resisted the temptation to buy one again. I like that he’s put it out there because the longer he waits, the more likely he is to avoid the purchase. " My Daily Dollars
Should couples keep their finances separate? Kristy shares a juicy cautionary tale: "Being in the banking industry, you always know when the husband or wife has been unfaithful because nine times out of ten, the other will come in and clean out the bank account. The drama we witness, let me tell you! At any rate, we recently had a customer come to the credit union to pull out money because her husband was cheating..." Master Your Card
The low-down on FDIC insurance. Don't panic. Check out this FAQ for accurate information about the insurance protecting your deposits. Julia Scot from Daily News
Credit default swaps: Are taxpayers ultimately responsible? "In the end, it's the taxpayers - it's always the taxpayers - who are left to cover all the losses..." Money Aisle
Happy birthday to Gov Gab! Gov Gap is the official government blog that shares little-known (and usually free) government resources available to help you out. Find information like:
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