This reader story comes from long-time reader and commenter Bill McFadin, aka Cybergeezer, who commented that he had submitted a story months ago that never ran. We asked if he would resubmit the article, which he kindly did. Some reader stories contain general advice; others are examples of how a GRS reader achieved financial success or failure. These stories feature folks with all levels of financial maturity and income. Want to submit your own reader story? Here’s how.
I have been retired three and a half years, and my current income is more than I was earning on the job before I retired. How? Well …
I tend to have a surprising amount of luck simply finding money on the ground. I’ve found quarters, dollar bills, fives, and even twenties on a surprisingly regular basis, just sticking out of gutters or half-buried under leaves.
Part of the reason is that, thanks to a lot of time spent hunting for morel mushrooms and geodes in the past, I’m pretty good at observing the ground for things out of place. Another part of the reason is that I genuinely enjoy walking and exploring and examining things when I walk – it’s just a natural hobby of mine.
On top of that, I like finding $20 bills in my own life. If I can find a way to save $20 on my grocery store visit, for example, I view it as a pretty nice victory, one that I feel good about for the rest of the day.
The end result of all of this is a sequence of small windfalls in my life.
It used to be that Labor Day marked the start of the school year. Not these days. For many districts across North America, late August is when class is in session, and that means the back-to-school season starts a little earlier than usual, too.
This week's collection of Wise Bread classic articles takes us back to back-to-school once again, with tips and tricks on saving on school supplies, saving time, and saving the environment.
How to Save on School Supplies Without Going Crazy — Carrie Kirby shares how she saves time and money on back-to-school by seeking supplies from unexpected sources, maximizing rewards points, and taking advantage of loss leaders.
Of all the things you might need for a successful job search, a good resume has historically been the most essential.
The problem is, most resumes look pretty much the same and that can make it hard to get noticed by potential employers. In fact, as someone who's spent time reviewing job applicants, I can tell you that it doesn't take long for all those resumes to start blurring together. (See also: 12 Words You Need to Delete From Your Resume Right Now)
Welcome to Wise Bread's Best Money Tips Roundup! Today we found some fantastic articles on dining hacks from restaurant insiders, reconsidering the college investment, and tools to help you find the cheapest textbooks.
Top 5 Articles
12 Drinking and Dining Hacks From Restaurant Insiders — When drinking or dining out, save money by skipping the pricey liquor and only ordering an appetizer. [PopSugar Smart Living]
This post comes from Anthony Fontana at our partner site Zing!
It may not feel like it outside yet, but summer is just around the corner. That means it’s time to start planning vacations. Whether you’re flying somewhere or taking a long road trip, one thing’s for certain: You’re going to need a car at some point. If you’ve never rented a car, it may seem like a somewhat daunting task. Between determining what company to go through, what kind of car to get and many other factors, it can be complex. It doesn’t have to be though. Just follow the below steps and you’ll be in the front seat of your rental car in no time!
Avoid the Airport
The events that happened throughout my life, the paths that got me to where I am today, present an interesting story. I refer back to pieces of this story once in a while here on Consumerism Commentary but I never focus on it, nor do I ever really provide a complete narrative. When I write, I prefer to focus on things external to me. Although this blog started more like a personal journal interspersed with my financial details and interesting bits of information about personal finance, like many other long-lasting websites, it’s evolved over time.
My grandparents grew up in a time and place when they knew exactly where their food came from: their own backyard. That kind of transparency seems almost unimaginable to me.
The carton of milk I buy might have been sourced from hundreds — or even thousands — of animals. The apples I carefully select tell me only the country or state in which they were grown. Even the fresh bread from my favorite local bakery is suspect; I know nothing about the flour, the seeds, or the hands that bring it to life. And I haven't even gotten to processed food. (See also: I'm Eating What? 12 Gross Things in Your Food)
Four years ago, I wrote a very brief article on the idea of scarcity and abundance mindsets.
At the time, it was an idea that was pretty fresh in my head, and so I didn’t yet have the opportunity to really cover it with any depth. Instead, it became an idea that I regularly referred back to over the years in considering my own life and the choices I was making.
Today, I see the abundance minset at work in my own life and in Sarah’s life. It’s a wonderful expression of how my perspective on finances has changed over the past several years, and it provides some great for further cultivating choices that are life-affirming while also pointing us toward personal finance success in the future.
Pinpointing the exact moment you got over your head in debt may be tricky. But if you suspect you're never going to pay off your loans without a drastic change in circumstances, then you are likely stuck in a bad spot.
You may need to seek outside help, and that means being careful to avoid shady companies that promise to make you debt-free quickly and painlessly. Consider tapping the capabilities of these organizations to do a financial turnaround.
This article is by editor Linda Vergon.
When Donna Freedman tackled the subject of teaching our children about money last week, GetAGrip challenged the premise that parents teach and children learn:
“All sounds pretty, teach them all this information and they will use it, right?
“I’m not advocating not teaching, but just don’t be surprised if they somehow seem to ‘forget’ much if not all of what they were taught and run up the credit card, take out a car loan, and do a host of things that freak your 40+ year old frugal self out.”
Sometimes, self-help isn't.
While there are loads of excellent strategies out there for improving yourself and your life in all kinds of different areas, there are a few fairly common self-help mandates that may not work as well as they should. (See also: 10 Mantras That Will Transform Your Life)
Take caution before blindly throwing yourself at new goals like these.
"Get Up Earlier"
It's common to tell people that if they want to improve themselves, they should wake up earlier. This is supposed to give you time to get things done before you have to officially start your day.
Money magazine lists six rookie landlord mistakes as follows:
No. 1: Underestimating costs
No. 2: Breaking the law
No. 3: Skimping on vetting prospective tenants
No. 4: Ignoring renters insurance policies
No. 5: Failing to check out the property regularly
No. 6: Going DIY at tax time
My take on these:
Welcome to Wise Bread's Best Money Tips Roundup! Today we found some stellar articles on lowering your car insurance premium, helping friends who are bad with money, and what to buy in August.
Top 5 Articles
5 Ways to Lower Your Car Insurance Premium — If you want to lower your car insurance premium, ask about discounts and change your coverage. [Smart Money Chicks]
Money Matters: How to Help a Friend Who Is Bad With Money — To help a friend who is bad with money, point him or her in the direction of financial tools. [Money Under 30]
Our generation has seen the cost of a college degree inflate dramatically while simultaneously becoming far less valuable than it would have been 15 or 20 years ago.
It's not just that there are a lot of them or that more people have access to financing and are able to get a degree. Rather, the quality of the education has dropped, the price has skyrocketed, and the value of what you do learn has become increasingly less cohesive with what employers want to see. (See also: 10 Ways to Improve Your Decision-Making Skills)
Since December 2013, the "spot foodstuff" index price is up about 20%. Ouch! For those of us who aren't commodities investors, that will translate to about a 3.5% increase in the price of food over the year — double the rate of last year's increase. Even vegetarians will feel the pinch due to the ongoing California drought.
So what can you do to maximize your food budget? Here are 13 suggestions. (See also: 22 Supermarket Tricks You Haven't Tried Yet)
Of all of the essays and short articles I have ever read, the one that has had the greatest impact on me is Self-Reliance by Ralph Waldo Emerson. If you’ve read my “Pieces of Inspiration” column before, you’ve probably seen me quote from it several times – and for good reason. Every time I read it, which is about once a month or so, it reveals something new to me that leaves me thinking.
Self-Reliance was originally published as part of a book of essays by Emerson in 1841, which means that the language and cultural references are just old enough that it can be a bit difficult for modern eyes to read.
According to Bankrate, certificates of deposit with a 5-year maturity (as of 7/18/14) offer a meager 1.74% growth rate — hardly anything to brag to your friends about. What do you do if you want to make your money grow even more? (See also: A Low Risk Investment Plan)
One option could be to invest in the stock market. But with such a short time frame as five years, stocks may not be your best option.
Instead, a more suitable investment would be to invest in bonds.
Specifically, to invest in bond funds.
This story is by staff writer Honey Smith.
The dust has (mostly) settled from our home purchase. As a result, I thought it would be a good time to post an updated version of “the reckoning.” I also thought I’d share our reasoning for moving forward with homeownership at this point in our personal finance journey.
The Reckoning
Please note that I have consolidated some separate accounts of the same type into one category for simplicity’s sake. Additionally, I’ve listed our original reckoning amounts from 2012 to give an idea of the progress we’ve made.
Honey’s Reckoning: Debts and Assets
Credit cards: $0 (was $4822.38)
"I'm gonna make a change, it's gonna feel real good!"
No song gets me in as good a mood as Michael Jackson's Man in the Mirror. This tune not only packs a motivational punch, but also drives home the point that true change in this world starts with you. (See also: 20 Habits You Must Kick Right Now to Be a Better Person)
So, crank up this MJ classic, start practicing these 20 habits and make that change.
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