We are very fortunate to be able to welcome to our Wise Bread team, Carrie Rocha, as our new Deals Editor. Many of you may already be familiar with her name, from her popular site, Pocket Your Dollars, or her book, Pocket Your Dollars. Here are a few get-to-know-Carrie questions as well as reasons why you must follow our Daily Deals, if you haven't been already.
A long while ago, I wrote about the idea of good debt and bad debt:
There are several fairly similar definitions of each kind of debt, but generally they either revolve around the terms of the debt (low interest rate debts – usually below 7% or so – would be “good debt”) or the purpose of the debt. For example, debt taken on that allows you to purchase an asset that retains value (such as a house or an education) is often considered “good debt” while debt that is used to purchase things that rapidly decrease in value or have no tangible value at all (like credit card debt) is considered “bad debt.”
My take? I think the idea that there is debt that is inherently “good” and there is debt that is inherently “bad” is wrong. It’s fairly simple to find example where a debt that is “good” in one situation is “bad” in another.
One interesting part of writing a blog on personal finance is that I’m constantly on the periphery of ideas like “the 1%” – the idea that the people in the world who are in the top 1% in terms of wealth have different motivations than the remaining 99%.
The advice I give is all about encouraging people to move up that ladder and that process changes your perspective. Eliminating debt, building up savings and investing, and establishing some financial independence for yourself is going to change your perspectives on the world, at least to a degree.
The challenge comes from balancing the two. How do you reward people who have worked hard without punishing people who haven’t had opportunities? It’s a problem that society is struggling to answer, particularly today.
My goal is simply to help people take advantage of whatever opportunities and resources they have to get themselves into a better position.
Pop quiz: What's a naturally shelf-stable, impressively inexpensive ingredient that most of us have in bulk on our pantry shelves? The answer? Rice! Whether white, brown, purple, wild, basmati, jasmine, or you name it, rice is a filling side dish when served plain with many of our favorite meals. Spiced up, you might find yourself using rice for many more recipes than you ever imagined — even whole dinners. (See also: Best Rice Cookers)
If there's one thing I'm guilty when it comes to not practicing what I preach, it's that I buy way more clothes than I actually need.
I like clothes. I like the way they make me look, and I like the way they make me feel. Still, I don't need anywhere near the amount of clothes I have — which, ironically, makes me the perfect person to tell you which 16 wardrobe items that are absolute necessities (assuming undergarments are already included, of course — because, duh) opposed to life's little luxuries. (See also: Guide to Better Style)
This article is by staff writer Kristin Wong.
We get a lot of pitches at Get Rich Slowly. Despite the underlying marketing agenda, sometimes these pitches contain useful information that is worth sharing. Case in point, Pep Boys emailed us a whole array of free services they offer. My ears perked up for a few reasons:
Not every city has a Pep Boys store, I know. But there are a handful of other places that offer free services too. At any rate, I thought I’d find out more and put together a list.
Tire repair & rotation
Welcome to Wise Bread's Best Money Tips Roundup! Today we found some amazing articles on easier ways to save on groceries, tools to help pay off debt and reach goals, and ways college students waste money.
Top 5 Articles
Easier Ways to Save on Groceries Besides Clipping Coupons — Save money on groceries without clipping coupons by computing the cost of your meals. [Bible Money Matters]
We're deep into the days of Seasonal Affective Disorder, more commonly known as SAD. The lack of sunlight causes our levels of serotonin, a brain chemical (neurotransmitter) that impacts our mood; and melatonin, a hormone that impacts our mood and sleep patterns; to drop. This causes depression, a drop in energy, and general irritability. Luckily, there are plenty of natural ways to alter the biochemistry of our brains to boost our mood. (See also: 29 Scientifically Proven Ways to Be Happier)
Although most Americans would probably forgo a 200 square foot tiny house, the heyday of the McMansion is fading. As many of us are learning the hard way, bigger houses are not necessarily better. Here's how to ditch your big old house and improve your life in five easy steps. (See also: How Much House Do You Really Need?)
When I read this piece from MSN Money it made me think of one word: yikes!
Here's the part that made me squirm:
At the height of his corporate career, Tom Palome was pulling in a salary in the low six-figures and flying first class on business trips to Europe.
Today, the 77-year-old former vice president of marketing for Oral-B juggles two part-time jobs: one as a $10-an-hour food demonstrator at Sam’s Club, the other flipping burgers and serving drinks at a golf club grill for slightly more than minimum wage.
Social media has changed our lives in many ways, but here’s one nobody probably foresaw: criminals brazenly boasting about their deeds on Facebook. Some misdeeds are probably more humorous than deadly, like Michael Baker, who siphoned gas from a Jenkins, KY police cruiser, and then posted a video on the site with many eyes, complete with a bird salute to Kentucky’s finest. Then he boasted about spending time in jail for that.
This story has all the makings of something viral. It fits right in with our fascination with people doing things that normal Americans wouldn’t even consider doing. We gawk at reality television shows and follow the stories about their stars, like the recent news about the couple from the “Real Housewives of New Jersey” show who recently pleaded guilty to fraud. This story has the added element of millennial-shaming. We like stories when a young individual upholds the generally-held stereotype of entitlement.
This article first appeared at U.S. News and World Report Money.
You failed to pay a bill when you were out of work or you forgot about an old debt. Suddenly, debt collectors are contacting you through the mail and on the phone. It can be frightening, particularly if you’ve never been in such a situation before.
The most important thing is to know your rights. Debt collectors cannot take money out of your pay check without having obtained a legal settlement in court. Only courts can garnish your pay. Debt collectors cannot threaten you or demean you. You do not have to put up with insulting or demeaning behavior from them. Here’s a quick summary of the legal limits of debt collection behavior.
Here are five key actions you can take to put yourself in control of the situation.
I love sharing stories from people who are working through financial issues, have made significant financial progress in their lives, or just need a bit of advice. And FMF readers like these as well, as evidenced by the comments I receive on these posts.
If you'd like to tell your story or get some advice, there are many ways to do so including:
A long time ago, I wrote about a concept called the “crossover point”. The “crossover point” describes the point at which the returns from your investments exceed your living expenses, which means you can begin to fully live on your investment income and not have to work.
To give you an idea of what the crossover point is all about, here’s a key excerpt from that earlier post:
Let’s look at another example, that of Fran. Fran has the same job as Joe, but is a very frugal lady: she’s committed to only spending 70% of her take home pay each year. Let’s see how she does:
It might not feel like it in some areas of the country, but Spring is almost here! The change of season means that many of us are gearing up for a big household to-do: Spring cleaning. Why don't we help each other make this chore less of a chore?
What is your favorite cleaning tip? What tools do you use to make Spring cleaning go faster, cheaper, or more green? How do you make it more enjoyable?
Tell us your favorite cleaning tip and we'll enter you in a drawing to win a $20 Amazon Gift Card!
Win 1 of 3 $20 Amazon Gift Cards
We're doing three giveaways — here's how you can win!
It's a bummer when your favorite clothes no longer fit right, or what was once a perfectly good piece now has a big flaw. But don't give up and head to a pricey professional, or worse yet, toss that item. There are some surefire ways to get your clothes and accessories working for you again just by using a few economical fashion fixes. (See also: No-Sew Ways to Update Your Wardrobe)
Welcome to Wise Bread's Best Money Tips Roundup! Today we found some fantastic articles on ideas to make money on the weekend, tactics to avoid wasting food, and money-saving tax tips for parents.
Top 5 Articles
37 Easy Ideas To Make Money On The Weekend — To make money on the weekend, tutor students and recycle. [And Then We Saved]
Seven Tactics to Avoid Wasting Food — Avoid wasting food by using a grocery list and meal plan. [The Simple Dollar]
This article is by staff writer William Cowie.
Chances are home prices in your neighborhood have been rising lately. Strangely enough, that only made the news when, for last November, Standard & Poor’s Case-Shiller index of home prices in 20 top cities fell the grand total of 0.1 percent.
The Federal Reserve tracks a national composite home price index for the country, which looks like this:
Whether you are a parent letting your child down, a supervisor who has to let an employee go, or a doctor delivering a difficult diagnosis, it is never easy to give someone bad news. No one enjoys it. In fact, most of us dread it.
The manner in which you break the news can affect the outcome, influence the other person's emotions, and even create a bigger problem. Using the tips found below on how to break bad news, you can ensure a smoother interaction and the least amount of discomfort possible. (See also: Express Condolences Without Saying Something Stupid)
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