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Free Money Finance is a personal finance blog designed to help readers grow their net worth. The site is over four years old and contains more than 7,000 posts on saving money, making money, investing, planning for retirement, and all other personal finance related topics.

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Who Knew Prom was so Expensive?

Published Friday, May 24, 2013 - 04:29 by Free Money Finance

Here's a piece from the Wall Street Journal that says families with teens going to proms spent an average of $1,139 on the event last year.All I can say is "wow".Most of the cost is in the attire (as you might expect), but there are also costs for transportation, flowers, photography, and tickets for the event. They all add up to an average of over $1,100. […]

Reader Profile Update: Mark

Published Thursday, May 23, 2013 - 04:29 by Free Money Finance

Here's our very first Reader Profile Update. Many of you asked for this type of post -- a progress report on where past Reader Profile readers are these days financially. I think you'll really enjoy this.Today's post is from Mark, who gave us his reader profile over two year's ago. […]

Real Retirement Advice from Real People

Published Wednesday, May 22, 2013 - 04:29 by Free Money Finance

The following is a guest post from Gerrid Smith is CEO of the charity-focused coupon website, Save1. They provide coupons and deals from over 5,000 online stores! Each time a coupon is used, they provide a meal to a child in need. There’s no lack of how-to retirement articles online. You can learn about everything from travel to estate planning. […]

Reader Profile: SB

Published Tuesday, May 21, 2013 - 04:29 by Free Money Finance

The following is the latest post in my "Reader Profiles" series. Each post in this series details the financial situation and challenges of an FMF reader. […]

College and Cost

Published Monday, May 20, 2013 - 04:29 by Free Money Finance

When it rains, it pours. Here's yet another piece on the value of college and the costs associated with it.But this one is absurd for the title alone: In Applying to College, Is Cost a Factor? Really? We have a writer for the Wall Street Journal asking if cost is even a factor when picking a college. Is that what it's come to? […]

Help a Reader: 401k vs. Roth

Published Friday, May 17, 2013 - 04:29 by Free Money Finance

Here's an email I recently received from a reader: My company just announced a series of changes they are making to our benefits, including our 401(k) plan. Currently, they match $0.50 on the dollar up to 3% of your annual salary (so, if you contribute 6%, they kick in 3%), and they do this with every paycheck. […]

Target Investment Mix at Age 50

Published Thursday, May 16, 2013 - 04:29 by Free Money Finance

I'm approaching 50 years old. I remember when my mom became 50 and I thought "Man, she's old." :) Anyway, CNN Money ran a series on "Best Moves if You're _____ Years Old." This one is the piece for those 45 to 54 years old and contains a target investment mix at age 50 as follows: 39% U.S. Stocks 40% Bonds 21% Foreign Stocks I get the U.S. […]

Average Tax Refunds

Published Wednesday, May 15, 2013 - 04:29 by Free Money Finance

The Wall Street Journal lists the average tax refund as follows: Income: $25k-50k; Average Refund: $2,774 Income: $50k-75k; Average Refund: $3,051 Income: $75k-100k; Average Refund: $3,657 Income: $100k-200k; Average Refund: $4,704 I'm wondering if these are too high or not. On one hand, it seems like a lot of money that's "loaned" to the federal government each year. […]

Help a Reader: Anniversary Challenge

Published Tuesday, May 14, 2013 - 04:29 by Free Money Finance

Here's an email I recently received from a reader: I am writing you with a simple example of a goal but also a challenge for suggestions. As a long time reader of FMF I now believe in setting a goal. (Thank you, FMF) This goal is to do something for our 25th wedding anniversary. In June we will celebrate our 23 wedding anniversary. Friend's of ours will be celebrating their 25th this year. […]

Do You Share Your Salary with Others?

Published Monday, May 13, 2013 - 04:29 by Free Money Finance

This post talks about how today's younger generation is more open about sharing their salaries with each other. And it got me to thinking how common sharing salaries is. When I was coming up through the business ranks, sharing salaries was taboo. I'm not sure why (was it none of their business? was it companies not wanting workers to compare? something else?), but it was. […]