Money Tips Network

Personal finance, and the difference between good and bad deals, are always a matter of context.  What could be a great deal in one context could be a lousy deal in another.  Sometimes spending more money is better than spending less; other times, it’s the opposite.

When I read this article on Money Talk News which listed ten “dumb deals” that people fall for, I disagreed with most of them on the basis that these “dumb deals” were actually false economies in disguise.  As in, you feel like you’ve gotten a deal, but it actually ended up costing quite a bit more than whatever money wasn’t spent.

There were several themes to these ten items.  The premises of three of these themes were questionable, which I’ll discuss below.  (That, and ultimatums such as “There’s no excuse for paying to download e-books” just encourage me to say: “Challenge accepted.”)

As we age, there are many benefits to look forward to, including retirement, time for travel and hobbies, wisdom, and the joy of being a grandparent. Sometimes, however, retirement means a decrease in income and spending. Many businesses recognize this fact and offer discounts to senior citizens. (See also: Big List of Senior Discounts)

Below is a list of 40 restaurants that may offer customers (some starting at age 55) a discount for their business.

Fast Food

Many fast food restaurants will offer a discount, which ranges from 5%-15% as well as a reduced price coffee or soft drink. Discounts may vary from location to location, be sure to ask before you order.

Arby's

10% discount for those over 55.

Over the years, I’ve read more personal finance and career books than I can possibly count. For the first several years of The Simple Dollar, I actually reviewed a book each week on the site. Yet, for all of those books, there were really only a few that had something inside the covers that stuck with me.

Of the hundreds of books related to personal finance, careers, professional growth, and other related topics that I’ve looked at over the past decade, only fourteen have retained a place on my bookshelf. I keep these on a shelf next to the desk where I write and actually refer to them now and again, because I find all of them to be treasure troves of inspiration when it comes to money issues, career issues, and career-life balance issues.

Note: This article is from J.D. Roth, who founded Get Rich Slowly in 2006. J.D. recently launched the Get Rich Slowly course, a year-long guide on how to master your money. His non-financial writing lives at More Than Money.

When I was young, my father got audited by the IRS. I can’t remember the details — I was young, and my father died long ago — but I do remember how he fumed and fussed for weeks as he tried to gather the paperwork and make his case to the auditor. The experience made an impression on me. I vowed that when I got older, I wouldn’t be as messy and disorganized as he’d been, and that I’d always do a good job of documenting my taxes.

Nothing beats the convenience and effectiveness of a good vacuum cleaner when it comes to cleaning the floors and carpets of your home. However, if you find that the traditional upright vacuum cleaners are bit are a bit too bulky or too cumbersome for your liking, then maybe its time for you to switch to canister vacuums.

They allow for a much greater degree of maneuverability, which in turn allows you to clean those hard-to-reach places without straining your body. If this sounds appealing to you, then read on for Wise Bread's list of the top 5 canister vacuum cleaners worth your money.

There are no Dixie Cups in my home for political, financial and environmental reasons. I am saving money by using recycled glass jars instead of paper cups.

Here's how it works: After I finish up spaghetti sauce, pickles or whatever, I run the empty container through the dishwasher. Recycled and re-purposed old glass jars become new drinking cups, and I have dozens of them. And that means, I'm saving a small bit of the environment and saving money.

A package of 450 5-ounce cups costs about $22. If each person in my family uses 2 cups a day, here's the math:

People like rules of thumb and quick answers. When a complicated question can be answered by an authority with a simple response, the reaction is likely to be one of two possibilities: a feeling of well-being and satisfaction if the questioner is meeting the requirements, or motivation to improve if the ideal situation is not being met. So if that’s all you need, the answer to that question I’m posing today, a number that represents the ideal savings rate as a percentage of income, let’s go with an answer of ten.

If you can save ten percent of your income throughout your life, you’ll probably be fine; in fact, you’ll be in a better financial position that most of your peers.

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some awesome articles on how to save over $15,000 a year, things to remove from your resume, and avoiding financial scams.

Top 5 Articles

How to Save Money — Over $15,000 a Year — Menu planning and eating what you already have are a couple ways to help you work towards saving $15,000 a year. [Money Circle]

9 Things to Remove From Your Resume Right Now — Remove short-lived jobs and mission statements from your resume. [POPSUGAR Smart Living]

With the future of Social Security and pension plans as unstable as ever, saving for retirement carries a whole new meaning today. In 1950, there were 16.5 people paying into Social Security for every beneficiary. In 2010, that ratio became 2.9 to 1. If this trend continues, depending on how young you are, Social Security may not even exist for you in its current form.

As for pensions, they are simply rare these days. If you do receive this employer-sponsored plan, you would only get up to 25% of your pre-retirement income. Is that enough to retire on?

It’s no longer enough to rely on these types of funding for your retirement. You need to take your retirement in your own hands — intelligently plan, save, and invest your own money to ensure you live comfortably during your post-work years.

Your Personal Retirement Guide

Here are the four basic steps this guide will follow: