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 148)

529 Plans and Scholarships

As a followup to my recent post on common misconceptions about 529 plans, I just wanted to highlight an additional way to get unspent money out of the account without paying taxes or penalties. A sharp-eyed reader named Courtney asked: I’ve heard that if your child obtains a scholarship, you can withdraw that amount from the 529 plan without paying the 10% penalty. […]

Closing Our HSBC Advance (HSBC Direct) Savings Account

I’ve long expressed a desire to simplify our finances, and have finally taken a small step in that direction. Over the years, I’ve accumulated a number of online savings accounts. These include accounts from ING Direct, Ally Bank, Everbank, and so on. While we’re still using a couple of these accounts, the others have fallen out of favor for one reason or another. […]

What’s Your Biggest Money Mistake?

Money mistakes. We all make them. The important thing is to learn from them so we don’t make the same mistakes again in the future. […]

Link Roundup – Limping Man Edition

In my last roundup, I noted that I recently decided to start running. I’ve been taking it slow, but have still managed to develop some hip pain. I’m thus currently taking a week off to recover. The good news it that I’ve identified the problem. The main issue is that my feet supinate (roll slightly outward) when I run, so I picked up some new running shoes to better stabilize my feet. […]

Why I Bought A House at the Age of 24

This is a guest post from RJ Weiss, who is an aspiring financial planner. RJ writes about financial planning for twenty-somethings at Gen Y Wealth. If you like what you see here, please consider subscribing to his RSS feed. Want to start a fight on a personal finance world? Just ask someone if it makes more sense to buy or rent a home. […]

Five Common 529 College Savings Plan Myths

529 college savings plan are to college savings what Roth IRAs are to retirement savings. You make after-tax contributions and qualified distributions in the future come out entirely tax free. All in all, it’s a great deal. As great as these accounts are, however, there are a lot of misconceptions out there about exactly how they work. […]

How Much Do We Need for Retirement?

As we’ve been working on improving our finances this year, we’ve been looking at our retirement savings. Even though we’re still in our twenties (barely) and retirement is decades away, we still planning ahead. […]

Should ATM Fees be Capped?

According to the Wall Street Journal, Senator Tom Harkin of Iowa has introduced an amendment to the financial reform legislation that would cap fees for ATM withdrawals at $0.50 per transaction. Banks are currently charging an average of $2.66, so capping the withdrawal fee would remove a huge cash cow from the banking industry. […]

Inside the Home Star Energy Efficiency Bill: Cash for Caulkers?

The big news out of Washington today is that the so-called “Cash-for-Caulkers” bill has been passed by the House of Representatives by a 246-161 margin, and is on its way to the Senate. […]