It’s been a couple of days since I’ve written here because I haven’t’ had internet access until now. Early Thursday morning (extremely early) we had a flight to Denver to visit my wife’s family for Christmas. The flight left St. Louis at about 6am and things have been kind of crazy. I’m hoping to keep posting through the holiday season, but I apologize in advance if I’m not able to make everyday. I won’t be home until New Year’s Eve since we’ll also be going out to Utah for a couple of days after Christmas to see my parents.
As an update to an earlier post, I went ahead and made my second stock purchase with the last of my 2007 Roth IRA contribution. I decided on Jack in the Box (JBX). I’ve wanted to get something in this industry for a while now, and McDonald’s is pretty expensive. I’ve also been tracking this stock for over a year now and seen it more than double and then go through a stock split. It has recently pulled back though and I thought it would finally be a good time to get in. Jack in the Box also owns the newer Qdoba Mexican Restaurants which seem to be doing quite well and provides a little diversification from just the hamburger business. So we’ll see how this one goes.
I wish all of you a merry Christmas (or happy holidays if that be the case) and hope that you enjoy yourself this time of year.
1. With all the politics going on right now, perhaps you’d like to take a look at some of the candidate’s finances. CNN Money has a bit called Millionaires in Chief and goes through seven of the candidates. Interesting to know for sure, but the suggestions at the end are kind of useless. They’ve obviously done rather well for themselves on their own.
2. This time of year a major focus is on giving. An article at MSN Money, however, talks about the financial benefits of giving. Give and Grow Rich mostly covers the issue of tax deductions for charitable contributions. It’s one thing to already know this, but another to know the details of what’s allowed and what isn’t.
3. This Christmas, one gift has certainly garnered most of the attention. I’m speaking here of the Nintendo Wii. And Mrs. Micah goes into a discussion about whether the lack of Wiis will drive demand for other gaming systems. I have to say that I believe it is, but I don’t think that Nintendo is intentionally keeping the supply low. An interesting read if you’re caught up in the Wii craze.
4. Another Fiscal Musings Throwback (FMT): Way back when, I explained why I don’t keep an income statement for myself. I also explain how I handle all my income. The process is simple and doesn’t require any budgeting or spreadsheets. It ensures a positive financial future, plain and simple.
And now for a little humour for the weekend. I recently posted a video at The Milk Crate that you may have already seen, but I laugh every time anyway. You can’t help but laugh as well because the newscasters just won’t stop laughing. Anyway, check it out.
1. With the end of the year (quickly) approaching, you may want to take one more look at your tax situation for 2007. Here’s an article from MSN about 10 tax goofs many of us keep making. Also, to reduce your coming tax bill, consider upping your 401K contributions on your last paycheck or two.
2. A big issue among many young people and in general is how to combine your finances when you’re a couple. U.S. News and World Report put out an article dealing with His and Her Accountability. It talks mostly about the benefits of having separate finances at least on some level. While I’m not a proponent of that way of handling things, I don’t mind at least hearing another point of view.
3. Being friendly may not just make you feel good, but it may also pay great dividends in the end. At least that’s what one couple found out when their friend passed away. They were left $20 million in her will. The family of the deceased wasn’t very happy, and they appealed in court. But hey, maybe if they had been nicer and kept in better contact… sometimes the nice guy doesn’t have to finish last.
1. The social networking site Facebook is pulling its ad campaign. Apparently Facebook is able to track your online purchases and would then post them in your profile. Users were complaining because they didn’t want everyone knowing what it was they were purchasing, especially as we enter the holiday season. It probably wasn’t the best idea, but I don’t think that it’ll be the end of Facebook.
2. Are you among the thousands of consumers that are looking for a Wii? You’re definitely not alone in this one; Nintendo is again having trouble keeping up with the intense demand. It seems that they’ve tapped a consumer base far larger than the usual gaming circles. I wouldn’t be so concerned about this, but I’m looking for one as well. My parents want to get me one for Christmas, and they’ve enlisted my help to try and find one.
3. MoneyNing discusses what individual investors should do with all of the current fear in the market. He recognizes the different types of investors and comments on each kind. An interesting read for any investor.
4. Fiscal Musings Throwback (FMT): Too often, people worry about what percentage of their income to save or invest. And instead of saving something to begin with you wait until you figure out what percentage is the “best”. It’s an interesting phenomenon, but I’ll let you just read the article.
1. Cash Money Life gives us 25 Ways to Save Money. Not all of the ideas are applicable for everyone, but you may find a few items of interest. If you find one new way to save then it was probably worth the read.
2. Frugal Journey presents even more money saving tips in the article, 36 Important Money Saving Tips. If you haven’t found a new idea by now, you’re probably a personal finance blogger yourself or you didn’t actually click on the link and read the article.
3. If you’re not into long lists of tips, then you might enjoy reading a different perspective on Why the Rich Get Richer. Instead of just thinking of this as information about the rich however, try to see if you can find something that you can apply in your own life. Who knows, maybe you’ll someday join the ranks.
1. The Digerati Life has put together a list of 15 Painless Ways to Pay Yourself First. None of the ideas would be considered “ground-breaking”, but they’re simple ways that will force you to save. For some reason people won’t do the simple things to get ahead, yet they will sink money into some scheme that promises them to “get rich quick”. In the article the advice is sound and worth the read.
2. I’ve talked over and over about passive income, alternative income, or whatever you’d like to call it. Even so, maybe you’d still like to hear about it from someone else. All Financial Matters writes that Passive Income is the Key to Freedom, and Retirement. Perhaps it’s time to start creating some of this “passive income”.
3. The Money Smart Life wants to know Why Some People are so Ignorant About Money. There are multiple reasons given in the article and you can possibly add a few of your own. You may even see yourself in some of the reasons, and recognize a weakness that you can improve on.
4. Fiscal Musings Throw-back: Slick Marketing. You simply cannot escape the advertisement world these days and they will use all sorts of techniques to try and win your business. You have to be careful though not to fall for some of their slick tricks.
When shopping for cars, you’ll want to keep a few things in mind. In this article, 10 Things Not to Tell a Dealer, you’ll find tips on how to better handle the car buying process and keep yourself from over paying for your words.
So many couples struggle with their combined finances, and it may be because you’re not on the same page. Learn how to have a successful budget meeting with your spouse and you could quickly be on your way to controlling your finances.
I have also run across a video clip that is highly entertaining and yet is about economics. It was posted on Get Rich Slowly (credit where credit is due) but I’ve taken the liberty to also post it here for your convenience. Who knew economics could actually be funny.
Finally, with all of the information out there about how to do this and that, we sometimes lose track of what’s really important to us and why we do what we do. Take a second to examine Why You Want to be Wealthy and you’ll assuredly be more motivated to get there.
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