Best Money Tips: Personal Finance Explained in Football Terms
Welcome to the first edition of Wise Bread's Best Money TIps roundup. There are 3 rules:
- We don't talk about Fight Club (or Britney Spears).
- Random pictures of silliness will be inserted.
- If you have a suggestion for the next edition, please post them in the forum.
Costco shoppers are irrational. While Costco is cheaper, consumers tend to buy more than they would otherwise, and the bulk packaging make price comparison difficult. (Alpha Consumer)
10 key steps to get out of debt. If you can only read one personal finance article this year, this should be the one. (Zen Habits)
10 steps to determine your home buying budget. If you've never heard of the 20/28/36 rule, you need to check out this article. Follow these steps and avoid becoming a subprime cautionary tale. (The Digerati Life)
Personal finance explained in football terms. "If the Patriots can be this motivated for a 7 pound piece of sterling silver, can’t you motivate yourself for a lifetime of financial freedom." (Lazy Man and Money)
How to become the millionaire mommy next door. Meet the extraordinary woman who went from working a minimum wage job as a college drop-out to financial freedom as a debt-free, self-made millionaire by age 40. (Millionaire Mommy Next Door)
How presidential candidates plan to save social security. Huckabee would allow for private accounts and get rid of the payroll tax in favor of a "Fair Tax." Clinton is against private accounts but have not articulated a funding proposal. (Free Money Finance and CNN)
What exactly is the Alternative Minimum Tax? "The AMT is a parallel tax system with rates ranging from 26%-28%. If your liability is higher under the AMT than under 'standard' income taxes, then you have to pay the AMT. Given that standard tax rates top out at 35%, this doesn’t sound too bad. Unfortunately, the AMT also disallows many routine deductions, resulting in a potentially large tax liability." (Five Cent Nickel)
Trent gives thumbs up to the book "The Ultimate Cheapskate's Road Map to True Riches" by Wise Bread blogger Jeff Yeager! "The humorous tone, self-deprecation, and solid advice mix together into a very enjoyable read" that "focuses on frugal ideas and tips that can easily be applied to an average American life." (The Simple Dollar) [edited to add: JD liked it too!]
Get Rich Slowly's Greatest Hits. If JD's blog were a CD, it would've gone quadruple platinum by now. (Get Rich Slowly)
Always budget for a carousel ride. Because even people on a budget deserve some moments of spontaneous awesomeness. (Smart Spending)
Quote of the Week: "I did it! I got all 242 stars in Super Mario Galaxy!" (
Clever Gamer Dude)