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 4)

Dave Ramsey’s Baby Steps

While I’ve been somewhat critical of Dave Ramsey and his “Debt Snowball” in the past, he’s definitely helped an awful lot of people get their finances in order. Thus, I thought that it might be worth spending a bit of time talking about Dave’s “Baby Steps” for getting out of debt and improving your finances. […]

How to Save Money on Life Insurance

Life insurance is an incredibly important financial product. Unfortunately, it’s also relatively costly. With that in mind, I thought I’d put together some tips for saving money when you’re in the market for a life insurance policy. Get healthy Any insurer worth their salt will require a physical as part of the underwriting process. […]

Passive Income Streams: What They Are and Where to Find Them

Passive income is money received on a regular basis that requires little effort to maintain. Sounds great, doesn’t it? Generating passive income is a great financial goal because it’s a smart way to build wealth. One thing to realize is that creating passive income requires an upfront investment — whether it’s money or time. […]

Current High-Yield Online Savings Account Rates

I frequently receive e-mails asking my opinion as to which online bank has the best high-yield savings account. […]

Contribute to Your Roth IRA, Even if it Stretches Your Budget

Your 2016 taxes are due in just over three months. That also means that you have just over three months left to make any 2016 IRA contributions that you might have been putting off. But what if you’ve neglected to contribute to an IRA because you’re not sure you can afford it? […]

What’s a Side Hustle (and How Can It Help You Achieve Financial Freedom)?

Whether you want to pay off outstanding debt, save up for a house, or just have extra spending money, having a side hustle is a great way to reach your financial goals faster. The nice thing about side hustles is that they do more than just bring in extra income. […]

Dave Ramsey is Bad at Math

See also: Dave Ramsey is Good at Psychology If you’re familiar with Dave Ramsey, then you’ve no doubt heard of his ‘snowball’ approach to paying down your debt. In short, Ramsey suggests that you make minimum payments on all but the debt with the lowest balance. Any additional money you have goes to that lowest balance debt. […]

How to Get Out of Debt

On the way home from work the other night, I heard a radio commercial touting a debt reduction system that (supposedly) works like no other. As I drove along, I couldn’t help but chuckle. After all, they made it sound like there’s some sort of silver bullet out there that will magically make your debt disappear — for a fee, of course. Guess what? There isn’t. That’s the bad news. […]

Paying Off Your Mortgage Early: Some Things to Consider

Let’s talk about a somewhat controversial subject, at least in financial planning circles: paying off your mortgage early. A great deal of conventional wisdom says you should never pay a mortgage off early. Well, I’ve gone against that conventional wisdom. Twice. […]

Are High Deductible Health Insurance Plans a Good Idea?

When looking at different health insurance plans, one of the biggest decisions you’ll likely have to make is whether or not to enroll in a high-deductible plan. Regular health insurance plans offer more predictable medical costs and often more comprehensive coverage. […]