Five Cent Nickel

Written by a man who has been meticulously recording his finances since 1997 (stored in Quicken), Five Cent Nickel is one of the oldest and most respected blogs around. This blog often provides great commentary on—and summaries of—useful financial tips featured by other publications. If you’re too lazy to read every little money article out there, just stop by Five Cent Nickel and get the cream of the crop.

Latest Posts from Five Cent Nickel (page 137)

Happy New Year!

This is just a quick note to say Happy New Year! While 2009 was a great year (both for FiveCentNickel and for my family), I’m hoping that 2010 will be even better. Matt has already opened up a discussion of financial goals for 2010, so I invite you to chime in over there about what you have planned for the coming year. And now… I’m off to spend time with family, watch some football, and relax. […]

Financial Goals for 2010

Now is the time to outline your financial goals for 2010. In case you haven’t already done this, I’ve put together some ideas to get you started. While I’ve loosely prioritized the main themes, you’ll want to tailor things according to your individual situation. Reduce your debt Debt reduction should, in my opinion, always be numero uno. […]

Traditional and Roth IRA Contribution Limits for 2010

With the New Year just around the corner, I thought it would be good to take look at IRA contribution limits for 2010. Contribution limits have been indexed to inflation since 2008, and can increase in $500 increments (as necessary). Because inflation has been so low, however, there’s not much new under the sun. […]

Effect of FICO Credit Scores on Loan Interest Rates

The other night, I was poking around over on MyFICO. They have a 30 day free trial that provides you with access to both your credit report and your FICO credit score. The free credit report isn’t a big deal, as you can get that free no matter what. […]

Reactive vs. Proactive Finances

This is a guest post from Darwin of Darwin’s Finance. If you like what you see here, please consider subscribing to his RSS Feed. In life, we’re routinely faced with situations that require an immediate reaction. Consider the need to pay monthly bills and keep your head above water. […]

401(k), 403(b), and 457(b) Contribution Limits for 2010

Back in August, I suggested that 401(k) limits might be decreasing in 2010. Fortunately, that’s not the case. Rather, the limit on elective deferrals will be holding steady at $16,500/year. This limit not only applies to 401(k) accounts, but to 403(b) and 457(b) accounts, as well. […]

The Economics of Gift Giving

With Christmas now in the rearview mirror, I thought it would be interesting to talk about gift giving strategies. According to a recent blurb in Money Magazine, Joel Waldfogel (Wharton School economist) has argued the following about gift-giving: “The problem with buying presents is that it’s economically inefficient. […]

Paying for Quality Saves Time and Money

As long as you are not smack dab in the middle of aggressive debt reduction (and perhaps eve if you are), paying extra for quality is rarely a bad idea. Sure, as with anything there are exceptions to the rule, but rather than focus on those exceptions, let’s focus on the rule itself. Quality is well worth the price My father, bless his heart, has always been a man who valued price over quality. […]

Lending Club: The Cost of Inactive Money

I updated our account in Quicken over this past weekend. In doing so, I was able to get a better look at the “real world” performance of my Lending Club portfolio. According to Lending Club, my net annualized return is currently right at 9.60%. According to Quicken, however, I’m running at about 7.5%. Why the difference? […]

When Should You Use Your Emergency Savings Fund?

Emergency funds are a hot topic amongst financial writers. How much do you need? How should you go about building one? Where should you keep it? It seems like every time you turn around, people are writing about the importance of emergency funds. Despite all of the attention paid to emergency funds, relatively little attention is paid to when you should tap into yours. […]