PT Money » Personal Finance Links

Weekend Reading

Philip Taylor — Fri, 16 Dec 2011 23:05:51 +0000

I don’t know about you, but I’m officially in Christmas season mode. Next week we’ll be visiting friends and relatives and pretty much doing Christmas non-stop until ole Chris Cringle himself arrives on my rooftop.

Our oldest is really getting into the Christmas spirit and asks about Santa Claus every night. It’s fun watching her get excited about it all.

With the weekend approaching I thought I’d offer up a few links to great articles. Enjoy!

Kevin, my new ultimate frisbee team member, just offered up his take on skills vs good grades when it comes to college students. As an accountant, I tend to agree with much of what he says.

While I shared my year end tax moves this week on the blog, SVB offers up a bunch of general money moves for you to check off your list before the end of the year. Nice list.

We’re definitely getting some toys for the kids this Christmas, but for adults in your life, an alternative gift idea might just work. Thanks to ChristianPF for offering that up.

Pete from Bible Money Matters shares some solid open enrollment tools and resources for you to take advantage of before your employer benefits period is over.

Lastly, if you want a sneak peek at how lucrative this financial blogging business can be, check out this article from Dough Roller that pulls back the curtains on the industry. Blogs are selling for more than 1 million.

Have a link to share? Contact me and let me know. Have a great weekend.

Weekend Reading is a post from: PT Money: Personal Finance by PT.
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Nearly Half Don’t Pay an Income Tax

Philip Taylor — Mon, 18 Apr 2011 04:58:40 +0000

How do you get 10,000 comments on just one article? You write about the fact that nearly have the people filing tax returns in the U.S. don’t have to pay federal income tax. I didn’t write about this, but someone from AP did and it was picked up by Yahoo!. The comments are interesting and very telling. They will give you a sense of how folks are feeling about our government and tax system. It’s not all warm and fuzzy.

I understand why there is anger about this issue. Many people fork over a fourth of their paycheck each week to the federal government for income taxes. It’s not fun to give up this money knowing that others aren’t paying the same percentage. The government does provide some benefit, but if everyone isn’t contributing then that can’t be perceived as fair, right?

There are certainly people in this country that should be exempt from paying taxes, but 50% is ridiculous. Surely some of those people are earning a decent living. How are they able to escape paying a tax?

Like many people, I feel like we need a simple solution to collecting revenue and that everyone should pay something. I would be in favor of some type of national sales tax or flat income tax. Anything to wipe the slate clean and just start over. We have a mess of a tax code that makes it costly to file, enforce and collect. I’m not sure we’ll ever see it happen though. Obama promised a 5 minute tax return, and even he wasn’t able to push something simple through the democratically-controlled Congress.

Do you think everyone should pay? What’s your solution for a better tax system?

Nearly Half Don’t Pay an Income Tax is a post from: PT Money: Personal Finance by PT.
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Busy Week Ahead Links

Philip Taylor — Mon, 04 Apr 2011 05:44:50 +0000

Every week seems busy these days, but this one seems extra busy. Wish me luck.
Links from last week…

Family Finance Carnival: TV Families Quiz Edition

Philip Taylor — Tue, 29 Mar 2011 16:16:31 +0000

Welcome to the March 29, 2011 edition of family finance carnival. This edition is prepared in honor of all the great TV families I watched growing up. Can you name the shows featuring these 12 families (bonus points if you can name the family’s last name)?

Money Advice for Not-So-Famous Families

You don’t have to be a famous TV family to have your finances in order. Check out these blog posts I’ve written on helping your family finances:

5 Gifts that will Bring Your Family Together – In my book, spending money on getting your family together is money well spent. Check out these gift ideas which everyone in the family will love.
Is Lending Money to Family Worth the Risk? – Learn about the risks involved with lending a family member money. Learn how to say no and still maintain a healthy relationship. Learn to help them in other ways.
Tips for Great Financial Fathers – Being a good father is tough. Getting every aspect right is just about impossible. But here are some tips to help you at least get the financial part right.
Help for the Unemployed Family Member – Many people know a family member or friend that is going through a tough employment situation. Learn how to be an encouragement and help these people through their tough time.
Fun and Frugal Family Outings – Having fun doesn’t have to be expensive. You can have a good time on limited funds.
10 Money Lessons Every College Student and Parent Should Know – Don’t leave home without ensuring you’ve read these tips. They are good for parents and college students.
Opportunities to Teach Kids About Money – Everyday there is an opportunity to positively influence your children when it comes to managing money. Keep and eye out for these and take action when the time arises.
Can You Afford a Baby? – Babies are expensive. You’ve heard this before. But how much do they really cost and how can you best prepare?

Family Hacks

Angela England, Feature Writer presents Money Saving Tip Using Seperate Savings Accounts posted at Untrained Housewife, saying, “Save money wisely as a family by allotting your spending with intention!”

Jason Price presents How Kids Can Earn Money this Summer posted at One Money Design, saying, “Help your kids earn money this summer and develop a strong work ethic and learn responsibility.

Fanny Seto presents 5 Tips for Saving Money for a Baby posted at Living Richly on a Budget, saying, “There’s no doubt that having a baby can be expensive. Here are 5 ways to save money on baby expenses.”

Mike @ Green Panda presents Planning My First Baby’s College Savings posted at Green Panda Treehouse, saying, “Getting ready for your first baby.”

Neal Frankle presents Teach Kids About Money? The Free Guide posted at Wealth Pilgrim, saying, “If you have kids and you’ve faced financial trouble sometime in your life, you probably want to do everything in your power to make sure they don’t relive your difficult experiences. That’s certainly the case for David, a Wealth Pilgrim reader who dropped me a note last week asking what he could do to make sure he raises his kids to be money smart.”

Financial Management

Peter presents How To Save Money On Gas posted at Bible Money Matters, saying, “Gas prices are on the rise. Here’s how to save some precious cash on your gas.”

Mr. Money Smarts presents How To Financially Prepare For A Disaster posted at Smart On Money, saying, “You never know when a disaster may strike, so it’s important to plan ahead.”

Nathan Richardson presents How to Start an Emergency Fund When You’re Broke posted at Deals & Tips, saying, “Starting an emergency fund can save you thousands in interest charges by avoiding credit cards and short term loans. Learn how to make one when you’re broke.”

Glen presents Amazon Mom Review – Free Amazon Prime As Well As Discounts posted at Parenting Family Money, saying, “Amazon Mom provides any caregiver discounts, free Amazon Prime, and the convenience to shop for your baby items from home. See more in this review.”

Sun presents Rollover 401(K) Account to an IRA Account After Leaving Your Job posted at The Sun’s Financial Diary.

Outlaw presents Money Myth #1: Cancelling Credit Cards is a Good Idea posted at Outlaw Finance, saying, “use credit responsibly, but don’t go overboard.”

Clariity presents How to Make a Will Legally Binding posted at Living With Clariity, saying, “This article tells you what you need to do to make your Last Will and Testament a legal, enforceable document.”

Bucksome presents Pet Medical Expenses Add Up this Month posted at Buck$ome Boomer’s Journey to Retirement, saying, “The cost of pets is always readily apparent, but it hit us in the wallet this month.”

CreditDonkey presents Dining Rewards: 5 Ways to Feast on Reward Credit Cards posted at CreditDonkey.com Tips, saying, “Eating out with a family gets expensive. Read 5 tips to get rewards and save on dining out.”

Taxes

Fred Lee presents Tax Software Buying Guide posted at Parenting Squad.

Odysseas presents Paying Taxes on Debt? You Have Got to Be Kidding Me posted at Wallet Blog, saying, “I explain why and how you can be taxed on your credit card debt. Managing debt can be very overwhelming, especially when you’re not aware of all the regulations surrounding various debt management solutions.”

Buying a Car

Michael Shade presents 12 Steps to a Free Car for Life! posted at MTMA, saying, “This isn’t just about having a free car for life, but also has side consequences of becoming wealthy without knowing it, by just doing these steps. Takes discipline, but is simple to understand.”

Answer Key: 1. Family Ties 2. The Fresh Prince of Bel-Air 3. A Full House 4. Charles in Charge 5. Sanford and Son 6. The Wonder Years 7. Different Strokes 8. The Brady Bunch 9. Family Matters 10. Growing Pains 11. Who’s the Boss 12. The Cosby Show

Family Finance Carnival: TV Families Quiz Edition is a post from: PT Money: Personal Finance by PT.
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Credit Card Recommendation and Weekly Roundup

Philip Taylor — Mon, 28 Mar 2011 05:05:41 +0000

A reader recently emailed requesting my recommendation for a credit card. I gave my opinion by email, but I’m curious to know your thoughts. Leave a recommendation in the comments below. Here’s the situation:

“I’m a college student (aka poor young adult) who is looking to improve my credit score. I recently finished paying off a credit card but because the account was inactive for so long it was closed. I am currently looking into getting a new credit card, this card would be used for small purchases here and there, and for emergencies. I would like to get rewards back (cash back or miles, although I currently don’t travel a lot but would like to during vacation).
I was looking into the American Express Costco Card which seems good. However, I don’t have a Costco card to begin with and the membership fee would act like a annual fee (which I don’t want). Anyways I would greatly appreciate it if you could help me by narrowing my optIons and making a smart choice with my future credit card.”

Now for some links:

Make Extra Money

10 Ways To Make Money Writing Online
How to Become An Independent Contractor
How Much Money Do You Have to Make to File a Tax Return?
How to Sell on Etsy
3 Mantras for Small Business Owners

Save More Money

Market Corrections: Do You Buy, Sell or Ignore?
How Much Control Should The Government Have?
What Happens If Your Broker Goes Out of Business?
When Should I Take Social Security Benefits?

Spend Money Wisely

Finding Health Insurance When You Are Self-Employed
How Much Interest Are You Paying?
Extension to File Taxes vs. Amended Tax Return
How to Save Money with Your Mortgage
How to Lower Your Mortgage Payments
David Bach’s DOLP Method Explained
Why a 30 Year Mortgage is Better

Carnivals: Carnival of Personal Finance, Carnival of Wealth, Carnival of Money Stories

Credit Card Recommendation and Weekly Roundup is a post from: PT Money: Personal Finance by PT.
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I Heart Personal Finance QuickHits

Philip Taylor — Mon, 14 Feb 2011 04:48:47 +0000

Happy Valentine’s Day! Here are a few blog posts I loved from fellow personal finance bloggers written last week:

IRS E-File Refund Schedule – Need to know when you’ll get your tax return if you e-filed? This schedule will break it all down for you so you can make plans for the money.

Bailing Out Family and In-Laws – What do you do when family is down and out financially? Follow these tips to navigate this process appropriately.

What Happens to Your Debt When You Die? A friend asked me about this the other day, and I didn’t have the best answer. I said that it’s just wiped away. But what I should have said is that it gets netted against your assets first, then wiped away.

Home Office Tax Deductions for 2011 – Work from home or have a home office that you use to run a part time business? You can deduct the expenses associated with that income stream. Find out all the rules here.

6 Wealth Building Strategies While Living Paycheck to Paycheck – It’s hard to make progress towards wealth when you’re barely getting by. These tips should help you on your way.

How to Make Free Phone Calls Online – I use Skype, but there are plenty of other ways to make free phone calls over your computer.

Form 1040 Changes for 2010 – There have been a few updates to the 1040 Form this year. Go check out what they are and how they might affect you.

Looking for Another Tax Deduction? Open an IRA – My first few years of employment I didn’t participate in a company 401K. So come tax time I turned to the Traditional IRA to save for retirement and provide a bigger refund.

How Much Work Is Do-It-Yourself Investing? – I do it myself, and it’s not that hard. I imagine it gets harder the older you get and the more you accumulate, but by then you can pay a once a year fee to make sure you’re on track.

Carnivals: Frugality, Credit Score and Debt, Totally Money, Frugal Feast,Wealth Builder

I Heart Personal Finance QuickHits is a post from: PT Money: Personal Finance by PT.
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Best of Money Carnival #88 – Super Bowl in Dallas Edition

Philip Taylor — Mon, 31 Jan 2011 13:52:04 +0000

The dreaded "Death Star" awaits the Steelers and Packers

Today I’m lucky enough to be hosting the 88th Best of Money Carnival. Today also marks the start of Super Bowl week here in Dallas. It’s being played here for the first time, I do believe. The new Cowboys’ stadium (i.e. The Death Star, Jerry’s World, Jerry Dome, or The Y’all Mahal) will be the sight of the super game. Dallas is expecting over 150,000 out-of-towners and over $30 million in economic impact. Should be a crazy week around here. I won’t be able to make it out for the game, but I’m itching to go see the NFL Experience, and likely will check it out, weather and time permitting.

Alright, enough of that. On to the carnival. I love this carnival because I only have to highlight the best blog posts, but I hate it at the same time because there are many great posts that I end up leaving out. There were many submission to choose from this time around, and around 20 posts that could easily have made it in the carnival. Forgive me if you are not included. I’ll get ya next time.

10. John presents Should You Purchase Long Term Care Insurance? posted at Wallet Blog. This article explains what long-term care insurance is, who needs it and what they will need to consider if they purchase it. It’s important to look at long-term care insurance when deciding how you’re going to protect you and your family’s financial future.

9. Consumer Boomer presents Social Security Survivor Benefits posted at Consumer Boomer. You may be eligible for Social Security survivor benefits. Here’s some information on what those benefits are and who is eligible.

8. Michael presents Should You Take the Annuity or Lump Sum Payment? posted at The Dough Roller. If you’re fortunate enough to have a windfall, would a lump sum or annuity be the wiser?

7. Peter presents How To Increase Your Income Without A Raise posted at Bible Money Matters. This article is about increasing your income with the job you already have. Here’s how.

6. 2 Cents presents 5 Reasons to Skip the RRSP Contribution this Year posted at Balance Junkie. Canadians are often encouraged to max out their RRSP contributions each year, but that may not always be the best choice.

5. RJ Weiss presents What’s the Best way to Allocate your Income if You’re in Debt? posted at Gen Y Wealth. How to allocate your income, if you’re in debt.

4. Joe Plemon presents Should You Borrow From Your 401(k)? posted at Personal Finance By The Book. Yes, you CAN borrow from your 401k, but SHOULD you?

3. Boomer presents 10 Ways For Women To Obtain Financial Empowerment posted at Boomer & Echo. It’s not that difficult to get your financial life under control (your control). Remember, a man is not a financial plan.

2. Craig Ford presents Student Loan Debt and the American Academic Obsession posted at Money Help For Christians. Reasons why student loan debt is getting out of control.

1. CPF presents Pros And Cons Of Getting a Part-Time Job posted at Christian Personal Finance. Find out if getting a second job is the best option for you in your life situation right now by reading through these pros and cons.

Next week will be hosted by The Dividend Guy.

Best of Money Carnival #88 – Super Bowl in Dallas Edition is a post from: PT Money: Personal Finance by PT.
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Weekend Link Roundup

Philip Taylor — Sun, 23 Jan 2011 21:32:56 +0000

It’s been a few weeks since I’ve done a roundup. Here are a few of the great articles that I missed in January.

Oblivious Investor answers three questions: Stocks or Mutual Funds: Which Should I Buy, Does This Count As Market Timing, and How Much Income Will You Need in Retirement?

Money Help for Christians lists the 21 Best Money Blogs of 2010.

Amateur Asset Allocator shares that Congress Can’t Beat The Market, Even When It Cheats, and provides some solid info about Alternative Asset Classes That Are Easy To Own.

Frugal Dad warns you to Brace Yourself for $5-per-Gallon Gas, and gives 9 Ways to Prepare for Food Inflation.

The Wisdom Journal provides three resolutions worth keeping: Find a New or Better Job, Get an Insurance Checkup, and Set Up An Investment Account With An Online Brokerage.

Christian Personal Finance provides a few Job Interviewing Tips and Advice.

Money Smarts Blog shares his 2010 Couch Potato Investment Return, updates his fellow Canadians with the 2011 RRSP Contribution Limits And 2011 RRSP Contribution Deadline, and provides an excellent review of Mint.com Canada.

Wealth Pilgrim provides some nice retirement advice with asking Can You Retire Now?, and sharing Why and Where To Roll Your 401k, as well as, how you should go about Creating a Financial Plan for Free.

My Wife Quit Her Job shares 3 Steps to Becoming Successful in Online Business.

Good Financial Cents gives us 7 Things You Must Know Roth IRA Rules for 2011, tells us about the 2011 Energy Tax Credits for Home Improvements, and updates us on the Flexible Spending Accounts (FSA) Changes for 2011.

Studenomics shares an awesome 5,000 Word Case Study With Serial Internet Entrepreneur Pat Flynn, as well as a Case Study On Explosive Blog Growth & Creating a Full-Time Income. He also shares Why You Should Start With Freelancing Right Now.

The Digerati Life provides some Bill Paying Strategies To Help Find Your Spending Balance.

Bible Money Matters gives us the 2011 Federal Income Tax Brackets, the 2011 Flexible Spending Account (FSA) Changes, and some Tips For Self-Preparing And Filing Your Income Taxes.

Moolanomy teaches us how to How to Recharacterize Your Roth IRA Conversion…and Why, asks Are You Responsible for Your Spouse’s Debt?, and questions Reducing Credit Card Debt with Balance Transfers: Is It Realistic?

Money Under 30 share the Big Fat Guide to Getting Out of Debt on Your Own.

Free From Broke gives us a few Blogger Tax Deductions You Should Be Looking For Come Tax Time, lists the Best Travel Rewards Credit Cards, and hosts the Festival of Frugality: Spend it Edition.

Gen X Finance updates us on the 2011 401k, 403b, and 457 Plan Contribution Limits, and shares a Scottrade Review: $7 Trades and Local Offices.

The Financial Blogger shares a great list of 30 Financial Moves Before 30, and provides some Ways to Avoid a Real Job After College.

Carnivals

Wealth Builder, Tax Carnival, Money Stories, Wealth Builder, Personal Finance, Totally Money, Frugality, Wealth Builder, Best of Credit Cards and Saving Money, Wealth, Personal Finance, Totally Money

Weekend Link Roundup is a post from: PT Money: Personal Finance by PT.
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Where to Sell Your Unwanted Gift Cards

Philip Taylor — Sun, 26 Dec 2010 22:16:32 +0000

Happy Holiday Weekend! Did Santa bring you lots of good gifts this year? Well, if one of those gifts was a gift card you know you’ll never use, you should consider selling it online with PlasticJungle.com.

At Plastic Jungle you can sell your unwanted gift cards for up to 93% of the full value. You can also trade and buy gift cards at up to 30% off. This would likely be great time to shop for cards there too. I’m sure they have lots of inventory with the holiday weekend ending soon.

Favorite Links

Retiring at 65 Isn’t Supposed to Be Easy – Mike from Oblivious Investor explains why retiring at 65 might not happen to those who are just doing the minimum. Click through to see what it takes to get confidence in your financial future.

Average Amount of Time to Find a Job? 211 Days! – Bob from Christian PF shares that the average time to find a job is up to almost 8 months! I can attest to the fact that employers (even in good markets) are being very picky and there are plenty of candidates out there. Click through to see what Bob says about your emergency fund implications.

Don’t Leave Your Job in a Coffin – Steve from Brip Blap shares his story of sticking with a job that was literally killing him. I can relate somewhat as we shared a similar career path. I’ve been lucky to have a couple of nice bosses at my last two career stops. Click through to see his story.

6 Things To Consider When Moving For A Job – Ron from The Wisdom Journal shares some advice for tackling a move for a new job, something many people are resorting to lately. There are plenty of jobs still here in Texas. Come on out! Click through to read Ron’s wise tips.

Top 100 Personal Finance Micro Bloggers of 2010 – Rob at Lending Club included your’s truly in his list of the top tweeters in 2010. Check out the list to see who’s the most active and influential in twitterland.

Tax and Retirement

Debt and Spending

Carnivals

Check Your Math Edition of the Carnival of Personal Finance
Carnival of Personal Finance at Mighty Bargain Hunter
Dollar Matters Edition of the Carnival of Personal Finance
Holiday Trip Edition of the Festival of Frugality
Christmas Song Edition of the Festival of Frugality
Twas Two Weeks Before Christmas Edition of the Carnival of Money Stories
Wealth Builder Carnival #20
Carnival of Wealth
Wealth Builder Carnival #19
Card Wisdom Carnival
PT Money Edition of the Carnival at Card Wisdom
Wealth Builder Carnival #18
Carnival of Wealth #15
Holiday Spirit Carnival
Carnival of Wealth, Dec 26th Edition

Where to Sell Your Unwanted Gift Cards is a post from: PT Money: Personal Finance by PT.
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My Thanksgiving Day Link Roundup

Philip Taylor — Thu, 25 Nov 2010 06:35:26 +0000

Happy Thanksgiving! I hope you have a great day and I hope you have much to be thankful for. I’m going to be enjoying the day with family. We are starting the day by running a 5K “Turkey Trot”. Then we feast on turkey, dressing, pumpkin pie, and plenty of casserole. Throw in some football, a nap, and maybe a visit to the movie theater, and it will be a wrap. How about you?

On days like this I’m reminded of all that I have to be thankful for. That includes the small army of supporters I have with this blog. Thank you!

Links to great money articles:

More money tips:

The best of the rest:

Carnivals…

Wealth Builder, Debt Reduction, Money Stories, Best of Credit Cards, Wealth Builder, Personal Finance, Personal Finance, Frugality, and Wealth

My Thanksgiving Day Link Roundup is a post from: PT Money: Personal Finance by PT.
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