TheFinanceBlogNetwork.com

Are Hidden Fees Keeping You From Meeting Your Financial Goals? [Rich Credit Debt Loan]

Thu, 23 Feb 2012 14:22:17 +0000

Hidden fees are nasty little critters that can eat away at your credit card balances, or your checking accounts and you may never be the wiser. If you are stuck wondering where it all goes at the end of the money, it's time to do some investigating to find out whether or not you are being victimized by hidden fees.

Start with your credit cards, since these are usually the worst offenders. Go through your statement carefully and look for items like credit card insurance, special monthly fees or annual fees. These can easily add up to $250 or more a year, and you may not even realize it. For example, an insurance policy on a credit card typically costs $1.50 per $1000. If you have a $10,000 balance, this means an extra $15 a month. Add that into a monthly fee of $30, and you're already at $45, and you haven't actually purchased anything.

Look for a credit card that has no annual fee, and no hidden charges. Transfer your balances over to that card and you could save more than $1000 a year, depending on how many cards you have and the kind of fees that you are paying.

Another big offender is the recurring charge that some services levy against you. Remember that free trial you got a few months ago? The one that would change to $9.95 a month unless you canceled? These services are betting the bank that you won't remember to call it off, and that you'll likely forget to do that every month. Before long, you've paid out $120 a year.

Go through your checking account statements and your credit card statements and look for these fees. If you're not actively using the service, take the steps to cancel it. A few of these can really add up over time and you may never even know where the money is going.

Your bank can also be to blame for service fees. Even "free" checking may have a monthly fee that is automatically taken out of your account. Again, go through those statements and look for these fees. If you find them, consider switching to a bank that does not charge high fees, or look for a new checking account that will cost less each month.

Last but not least, if you have a cellphone, chances are you are paying way to much and getting saddled with extra fees. There are per-text-message fees, extra fees for 911 service and a variety of little add-ons. In fact, cellphone companies make an extra $1 billion every single year from these hidden charges. The best answer is to switch to a prepaid plan, but if you want to keep your service, make sure that you are aware of these little fees and budget them in.

Hidden fees are sneaky, but if you take the time to go over your statements you can avoid them. Always read them each month and don't be afraid to contest a fee that you feel is unfair.

Photo Credits: 1

Originally posted 2008-09-10 05:50:16. Republished by Blog Post Promoter

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The Death of Equities Redux? [Value Investing]

Thu, 23 Feb 2012 05:22:50 +0000

In these times of macro-volatility, it’s a line heard more each day: “stock picking is dead.” The reasons listed are plentiful, but all focus on the increased correlations across the stock market and various asset classes today. There is certainly…

Disney Premier Visa Card: The Happiest Card on Earth [NerdWallet]

Thu, 23 Feb 2012 02:52:08 +0000

The Disney Premier Visa Card is an invaluable tool for Mickey-lovers and parents of Mickey-lovers alike. Frequent Disney guest will find many of the Premier’s features crucial in making the most of their time and money spent traipsing through castles and cavorting with giant rodents. While the Disney Premier is by no means the most advantageous credit card for general travel, little mermaids and lion kings should look no further.

Rewards program

We’ll start with the basic rewards structure before diving into the more delectable details. Signing up gets you 10,000 bonus points delivered as a $100 statement credit—not a bad welcoming gift. From there, your rewards accumulate at a 2% rate at gas stations, grocery stores and Disney locations. All other purchases earn 1%. Points can be redeemed for Disney merchandise, resort stays, dining, park passes and airline tickets.

Additional benefits

The rewards program is fairly basic and certainly worthwhile, but the Disney-specific fringe perks are what really make the card worth your attention. First off, the Premier knocks 10% off the price of Disney Store and DisneyStore.com purchases $50 or more. That same discount applies to merchandise from select locations at Disney World and Disneyland. The card reduces the cost of select guided tours at either park by 20% and saves you 10% at select dining locations at Disneyland.

While the kids might not be able to fully appreciate the financial benefits of the varied discounts, they’ll surely get the full effect of the private character meet-and-greet opportunities. At both parks, Disney has private cardholder locations where you can snap pictures with your favorite Disney characters and take home a complimentary 5 x 7 photo.

One of the most unique features is the Disney Premier’s vacation financing option. A number of Disney vacation packages are eligible for special financing when booked with the Disney credit card. Every time you book a package, you’re granted 6 months of 0% purchase APR, giving you half a year to pay off the expense without accumulating interest.

Is it worth it?

The only drawback of the Disney Premier is the $49 annual fee. Because of the fee, we can only recommend this card to hardcore Disney devotees. The perks are difficult to quantify in a general sense and should be dealt with an individual basis. Before you sign up, do a few estimations to get an idea of whether the benefits will outweigh the cost. Remember to not only consider the return on gas, groceries and general purchases, but the meet-and-greet events and financing advantages as well. Chances are, if you’re a frequent Disney vacationer and buy the occasional merchandise, the Premier will serve you well.

Disney's Premier Visa^® Card

Get a $100 statement credit after first use
New: Earn 2% in reward dollars on card purchases at gas stations, grocery stores, restaurants and most Disney locations. Earn 1% on all your other card purchases
Redeem toward Disney treats at home and on vacation, such as Theme Park tickets, hotel stays, DVDs, toys and more
New: Enjoy the flexibility to redeem toward airline tickets on any airline to any destination, anytime
Save 10% off on select merchandise purchases of $50 or more at DisneyStore.com and Disney Store locations
Disney Theme Park Perks including a Character Meet 'N' Greet at our private Cardmember locations
Save with 0% promo APR financing for 6 months anytime you use your card to book select Disney vacation packages, after that a variable 14.24%
New: Choose from 8 Premier-only card designs

Annual Fee

Signing Promo

APR, variable*

Intro APR Promotions

$49

10,000 Disney Reward Point Bonus - after first use of the credit card*

APR:	14.24%* (Variable)
Default APR:	24.24%* (Variable)
Cash Adv:	19.24%* (Variable)

Purchase:	None
Bal Trans:	None

If you like Disney but find their benefits a tad limiting, you may want to consider a more general travel credit card with broader benefits. The Capital One Venture, for example, has a comparable annual fee of $59 and yields a flat 2% back on all purchases. Miles can be redeemed for flights, hotels, car rentals and vacation packages without restrictions or blackout dates. If Disney is on your horizon but won’t necessarily be a recurring destination, the Venture delivers substantial rewards no matter where your road may lead.

Carnival of Retirement # 7 - Retirement Statistics - February 20th, 2012 Edition Edition [My Personal Finance Journey ]

Sun, 19 Feb 2012 21:17:13 PST

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Welcome to the 7th Edition of the Carnival of Retirement. If you want to submit a post for next week’s edition, please use the submission form. Next week’s edition will be hosted by Money Reasons.

Retirement is a long-term game. There are so many things you need to do to prepare for retirement, and it’s not just saving and investing. Of course, having a great retirement portfolio is best, but to get there, we need to live within our means and build wealth along the way. This edition includes many retirement articles along with posts that will help us get there. Enjoy these great posts from around the Internet!

Also - since this is the Carnival of Retirement, I've added in several statistics that describe the current retirement landscape in the United States. Looking at the current picture, it seems that retirement is a topic that needs to be taken very seriously if people want to live well in their 'golden years.' So, it's definitely good to have a carnival that brings this topic in to the limelight.
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Retirement Statistic # 1 - Currently, 35% of people over the age of 65 rely in an almost full capacity on Social Security alone for retirement needs.
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Top 3 Editor's Picks

1. Kacie from Sense to Save published How much should you save with each paycheck to reach retirement goals?, saying, 'Will saving 10-15% for retirement be enough for you? Or, say you're maxing out retirement accounts, but got a later start. Will that be enough? Calculate how much you'll need to save with each paycheck to hit your nest egg target.'

2. MMD from MyMoneyDesign published Which is Better – Points or No Points on Your Mortgage?, saying, 'Will buying points when you get a mortgage or refinance save you a lot of money, or should you pass on them? I’ll show you how to calculate the difference and share my Excel worksheet to help you decide for yourself!'

3. A Blinkin from Funancials published Loyalty is for Losers, saying, 'Remember years ago, when you could walk into a bank or a bar and they would greet you by name? If you visited an establishment enough, you would be known as a regular. This is not a desired outcome and here is why.'

Note from Jacob - This is a cool post because it definitely has been my experience that in the journey to retirement (whether it be working at a company, the bank/brokerage to accumulate retirement savings, or where to take out insurance policies), you almost seem to be indirectly penalized by staying in one place. For example, in my experience, one of the quickest ways I've seen to get a raise/promotion is to switch the company you work for. In addition, I've seen that if you stay with the same bank or insurance company, your rates tend to increase year to year (or you have fees tacked on). However, if you switch banks/insurance companies, you seem to get an immediate price decrease.

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Retirement Statistic # 2 - In today's society, each retired person's benefits are contributed to by 3.3 workers, down from 16 workers per retiree in 1950.
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And, listed below are the rest of this week's great submissions! Enjoy!

Dr Dean from The Millionaire Nurse published A Million Bucks? In My 401K? Ya Gotta Be Kiddin!, saying, 'It's not rocket science. It doesn't take a street smart investor. How do you get a million bucks in your 401K? Read on, brother.'

Evan from My Journey to Millions published Never Assume a Person Has a Completed Estate Plan, saying, 'Testamentary intent should be the most important goal but that is predicated on the fact that some form of estate planning is actually gets done!'

Marie from Money Spending Mommy published 6 Reasons to Update Your Will, saying, 'Perhaps you, like many others, believe that once your will has been drawn up, that’s the end of the process. While wills have never been anyone’s idea of fun, it’s important to review your will on a regular basis. There are many reasons to pull out your will and give it a thorough review. Here are some of the most common reasons:'

Peter from Bible Money Matters published Lending Club Returns Continue Upward Trend at 11.44%. Lending Club Passes 500 Million In Loan Originations, saying, 'I‘ve been investing with Lending Club for a couple of years now, and I’ve gone from a skeptic when I first started investing with the service, to someone who is convinced that Lending Club can be an integral piece in any person’s investing strategy.'

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Retirement Statistic # 3 - While the average retirement savings in the US is nearly $50,000, the median (so the amount which 50% of Americans have saved less than and 50% have saved more than, i.e, the 50th percentile value) is ONLY $2000. Wow!
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Kay Lynn from Bucksome Boomer published Save Money by Living a Simpler Life, saying, 'Doesn’t it just make sense to live simpler? The fewer things you own, the fewer maintenance costs you will have, and the more you will save in the long-run! Live a simpler life, and you will start seeing your bank account grow beyond your wildest dreams!'

Miss T. from Prairie Eco Thrifter published 10 Reasons You're Broke, saying, 'If you always have more month than cash and never seem to get ahead or even to even, it’s time to look at some reasons you may be broke.'

FG from Financial God published Harper's Plan to Cut Canada's Old Age Security OAS Program, saying, 'The Internet is afire with news that the Conservative government of Canada is planning to raise the minimum age for Old Age Security, as part of a comprehensive government-wide cost-cutting measure for the upcoming federal budget. '

Little House from Little House in the Valley published How Does Your Rainy Day Fund Stack Up?, saying, 'According to Mint.com, 50% of Americans claim that they would have difficulty coming up with $2,000 for unexpected expenses. Around here, that’s what an emergency fund is for. However, I guess this is still a novel idea to many Americans based on data Mint.com collected. Check out the infographic yourself (click on the link to see a larger version on Daily Infographic):'

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Retirement Statistic # 4 - 36% of Americans report that they do not contribute anything towards retirement currently.
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Don from MoneySmartGuides published Investing: What You Cannot Control, saying, 'This will be a two part posting on what you can and what you cannot control when it comes to investing. This first part will highlight four things you cannot control. Picking winning stocks, picking superior managers, timing markets, and one more...'

Jen from Master the Art of Saving published Tax Refunds- The Good, The Bad and Why We Get One Anyways, saying, 'Financial experts along with many personal finance bloggers frown upon getting tax refunds. Why? They actually have a valid point---why loan the government.....'

Aloysa from My Broken Coin published How Realism and Creativity Can Help You Get Out of Debt, saying, 'Sometimes I get frustrated with my life and myself because it seems that paying off debt is an endless process, a perpetual torture of saying no, a continuous refusal to spend on something that makes me happy. '

Dividend Ninja from The Dividend Ninja published It's Only Castles Burning, saying, 'Investor Seth Klarman, founder of the hedge fund Baupost Group, wrote a book on value investing, called Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor. Read an update on Klarman's activities'

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Retirement Statistic # 5 - When retiring at the age of 65, 62% of people have less than $25,000 in savings.
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LaTisha from Financial Success for Young Adults published First Rental Property: Find Investors or Go It Alone?, saying, 'Starting your first rental property? Deciding whether or not to take on investors has many advantages and disadvantages.'

Ryan from Early Retirement Investments published Why Your Children Should Open a Roth IRA at Age 18, saying, 'These are the reasons why children should open at Roth IRA at 18 years old or earlier.'

Suba from Broke Professionals published The Definition of Broke: What Does It Mean?, saying, 'I often catch myself saying I'm broke... but is it true? Just because you have no money in the bank doesn't necessarily fit the definition of broke.'

Kanwal Sarai from Simply Investing published Top 3 Tips for Successful Investing, saying, 'The beginning of the new year is a great time to plan for the future. Plan on how you will be able to earn more passive income this year than last year. Here are 3 tips to help you earn more:'

Daniel from Sweating the Big Stuff published Lending Club Returns at 15.87% in February 2012, saying, 'I started investing in Lending Club in 2011, and so far my returns have been stellar. Using some smart criteria, I've been able to crush the average.'

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Retirement Statistic # 6 - For the next 19 years, 10,000 Baby Boomers will reach retirement age each day.
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Erika from Newlyweds on a Budget published So I think I need to reevaluate my goals, saying, 'I think I made my goals too easy for the year because we've already completed a huge chunk. 1. Pay off credit card debt. We're on track to pay this off by April 1. Hoping the move doesn't put a wrench in our plans. 2. Contribute full company match to 401K. Done! I contribute 3 percent, read my other accomplishments'

Andy from My Retirement Blog published The 6 Most Reliable Ways to Save For Retirement, saying, 'Many Americans are planning for retirement earlier than ever. While the reality is that tough economic conditions may force them to retire years later than they wanted, this is having the dual affect of encouraging more foresight and planning.'

Steve from Money Infant published Saving Money and Time Through Automation, saying, 'Automation is one of the keys to unlocking your financial freedom. Chances are you already automate some of your savings plans like 401k and emergency savings'

Jester from The Ultimate Juggle published How to Accept Advice from Others, saying, 'Who do you ask for financial advice. Find out who you should be asking for financial advice and learn how to accept it gracefully.'

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Retirement Statistic # 7 - 24% of US workers have postponed their target retirement age in the past year.
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PITR from Passive Income To Retire published Why Cash Flow is Important, saying, 'Find out why cash flow is important in an early retirement plan. The importance of cash flow rests the 2 ways it helps me fulfill my dream.'

krantcents from KrantCents published Invest Your Tax Refund or Send It to Me!, saying, 'Invest your tax refund or send it to me! It is all about choices. What are you going to do? I know some will pay down debt, add to savings or fund an IRA. If you are going to go out and spend it on dinner, clothes, electronic toys or something that will break, wear down, etc they you're better off sending it to me!'

Jeffrey from Money Spruce published Wealthy, Successful Bloggers: Don't Simply Follow Their Frugal
Advice, saying, 'I often wonder if I'm brainwashing myself with the stuff I just want to hear. Lately, I've been reading a lot of blogs, books, and other advice about self-employment and starting your own business. I've mostly convinced myself that working a 9-5 job isn't the key to happiness and success in my life.'

Nathan Kim from Everyday Money Info published Roth IRA or Emergency Savings? Yes!, saying, 'Instead of making the choice between funding your retirement or building up emergency savings, you can do both with a Roth IRA.'

Pat Huddleston from Investor's Watchblog published Is Your Nest Egg an Adviser’s Piggy Bank?, saying, 'Tips on how to protect your retirement investments'

Melissa from Fiscal Phoenix published Diversification to Reduce Risk, saying, 'When you first start investing, you may be scared that you will lose money. Putting your money at risk is never easy especially when you have fear that you will lose that money. Well, there are a few ways to reduce or minimize the risk of losing money.'

***Photo courtesy of http://s0.geograph.org.uk/geophotos/02/25/21/2252194_77b5e5a4.jpg
***Retirement statistics courtesy of http://endoftheamericandream.com/archives/10-incredible-statistics-about-americas-coming-retirement-crisis-that-will-blow-your-mind and http://www.smartmoneyadvice.com/retirement-statistics.html and http://www.businessinsider.com/facts-about-retirement-crisis-2010-12#the-50-states-are-collectively-facing-517-trillion-in-pension-obligations-but-they-only-have-194-trillion-set-aside-in-state-pension-funds-11

Five ideas to create jobs that are so crazy they might just work [Money Hacks]

Fri, 12 Aug 2011 13:32:02 PDT

With unemployment stuck above 9 percent, Washington is trying to “pivot to jobs” once again. And already the discussion feels tired. The White House’s much-hyped ideas don’t seem bold enough, and Republicans have had little to offer aside from the idea that reducing government regulation will somehow let the free market work its magic.

A range of less conventional ideas for creating jobs can be found beyond the narrow Washington conversation, however. They aren’t necessarily politically correct–but that doesn’t mean they would not be effective. It’s not like anything else we’ve been trying lately has been working.

Here are five of the best so-crazy-they-just-might-work ideas to get the economy back on track.

1. Bulldoze excess housing stock

The struggling housing sector continues to exert a drag on the economy as a whole.

Five ideas to create jobs that are so crazy they might just work | The Lookout – Yahoo! News
Technorati Tags: economy, jobs, unemployment

How We Replaced My Wife’s Income [Saving to Invest]

Sat, 18 Feb 2012 14:32:01 PST

Are you a two income family trying to figure out how to survive on one? Perhaps your spouse dreams of staying home with the kids, or maybe you recently lost your job and you’re struggling to make ends meet. Maybe you’re single and looking for additional income, or older and looking to retire early. Regardless [...]

Read the full article at savingtoinvest.com - How We Replaced My Wife’s Income

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Awkwardness of Lending Friends Money [Finance Fox]

Wed, 22 Feb 2012 21:25:56 +0000

Dear Eddie,

I know it’s been a while since we last talked, and I do sincerely apologize for not keeping in touch more frequently. Life has just been tough as of late, and to put the icing on the cake, I lost my job. Needless to say, your words are now haunting me, and I surely wish I listened to you and your suggestions to put money aside. Sadly, I chose not to listen to you and continued to spend foolishly on fancy dinners, nice clothing and dates with women who meant nothing more to me than a quickie. I miss hanging out, and surely miss our nights out on the town together.

Anyways, I’m virtually out of savings and I was hoping that you can lend me a thousand dollars. My severance check is en route, so I’m hoping your money loan will help me pay my next rent. I promise, as soon as my severance check arrives, I’ll have the money back to you.

Sincerely,

Jobless Friend

—————————————–

Talk about an awkward situation above. Even though it’s just an example, lending money to friends will certainly lead to awkward moments in the future.

Your friend asked you for $1000, and you lent them the money. They promised to pay it back ASAP. That was three months ago, and still they’ve yet to pay you your money back. Your impatience is getting the better of you, and all you want is your money back. Now things are awkward and you’re stuck between a heart and a rock. Do you ask for your money back or simply give up on the friendship and the money all together?

Lending money to friends will become awkward sooner than later. Your friend may have needed the money for rent, but they’re out every weekend partying away. So what gives? Suddenly you’re quite interested in the spending habits of your friend. You begin to wonder; “Couldn’t my friend have stayed home this weekend and just paid me back my money?’

Who’s to judge. You don’t want to come off as needy, cheap, desperate or someone who’s spying on the life of your friend. How does one approach the topic without coming off as desperate?

Not all is doomed though, there are ways to keep things clean and possibly get your money back. You’ll notice that I said only the words clean and possibly. However, I’m certain you’ll still experience awkwardness at some point. In the mean time, let’s look at some options to safely administer personal loans between friends.

Secure Friend Lending Services

Two web services that pop out are lendfriend.me and wikiloan.com can be used to safely administer the loan between family and friends. The two systems are independent of each other, yet work on the same principle. Both of the systems create a ledger so you can both see when payments are due and paid. There are premium features available which allow you to use PayPal to set up payments and help you out to create a legal contract between the two parties.

WikiLoan gives the borrowers an opportunity to enter their financial information, which prospective lenders can view before deciding to fund the loan. Asking a friend for a personal loan can be awkward, and with the help of these online services , the overall process is much easier for someone to ask you or for you to ask someone for a personal loan.

Create Your Own Agreement

Another option is to create an agreement between you and the friend or family member you’re lending the money. Simply state the amount and don’t forget to include the dates, when the money was lent and the mutual agreement on when the money should be returned. This way as the lender you have something in writing.

The above three options only address if you’re lending the money in the future. What if you’ve already lent money? I’m certain that if you’ve come to this point that you’re nervous about wrecking a friendship. I did say somewhere about things getting awkward. However, the awkwardness of confrontation is worth the payoff of knowing where things stand, and more importantly what you can do to resolve the issue at hand.

Reach out, there is nothing to be ashamed of for reaching out. Explain to the borrower that your relationship is a priority, and be honest that it’s at stake as well. Offer to workout a payment plan, and if nothing works out, don’t be ashamed to walk away with your head high.

I’m sure you’re probably wondering what my response would be to the above email. So, here’s the response:

——————————————-

Dear Unemployed,

You’re a dumb-ass. I feel much better since I got that out of the way. I never start emails off like that, but seriously you’re a BIG dumb ass. I wish you would have just listened slightly at what was being said to you. I assure you that things would have been different.

I’m sure you’re probably wondering if I’ll lend you the cash. Me too. I’m also wondering if I should lend you the cash. Heck, you’ve already been irresponsible, and your track record speaks for it self by not listening to some of my suggestions in the first place. However, I do have a heart. You know very well that I’m not the type to kick anyone when they’re down. Maybe on their way down, but certainly never when they are down.

So, here’s what I’ll do. I can’t spot you a full grand, but I’ll give you $800. Consider it an early Christmas gift. Would I like you to pay me back the money? Absolutely. However, I’m comfortable giving this amount to you and knowing that I may never see it again. The bright side of all of this, is that I would hate to throw our relationship down the toilet for $800. I’ll leave it up to you on how you handle this transaction from now on.

Sincerely,

Your true friend

Readers, have you ever lent money to a friend? What was the end outcome?

Eddie

$2 for most $25 Restaurant.com Gift Certificates! [Sunk Costs Are Irrelevant]

Wed, 22 Feb 2012 19:37:30 +0000

Wow an even better deal from Restaurant.com. Just use the coupon code "MEMORIES" at checkout now thru 2/28!

You have to like the math that leads you to 92% off. This is no-brainer if any of your favorite restaurants participate.

Please make sure to read the fine print though. Many restaurants do require a minimum purchase and add in gratuity. Still, if there are restaurants that you frequent listed, you should be all over this.

Fulton Bank Checking Account Free Amazon Kindle Fire Promotion [Maximizing Money]

Wed, 22 Feb 2012 14:47:15 +0000

Fulton Bank is offering a free Amazon Kindle Fire when you open a checking account, activate a direct deposit, and make 3 online bill payments, valid through March 31, 2012.

Fulton Bank has locations in Delaware, Pennsylvania, Virginia, Maryland, and New Jersey.

For a limited time, you can receive an Amazon Kindle Fire when you open a checking account with Fulton Bank, activate a direct deposit, and make 3 online bill payments.

Here’s How To Get Your Free Kindle Fire:

1. Open a Checking account.

2. Sign up for Direct Deposit.

3. Sign up for Online Banking with Bill Pay.

4. Log in to your new online banking account and pay 3 bills.

Check out this Fulton Bank Checking Promotional Offer for more details on this special bank bonus.

Fulton Bank Amazon Kindle Fire Promo Details

This offer is valid when you open a new retail checking account by March 31, 2012.

You must establish a direct deposit of $250 or more within 60 days of account opening, such as Social Security, pension, or payroll.

You must enroll in Online Banking with Bill Pay and making 3 bill payments within 90 days of account opening.

Qualifying payments are defined as any payments made using the online bill payment service, but payments to yourself do not qualify.

FFC employees and immediate family members sharing a household are not eligible.

The bonus gift will be sent within 6 to 8 weeks after the conditions have been met.

Customers are responsible for possible tax implications.

This offer may not be combined with any other offer.

Review these other Bank Bonus Promotions for more national bank offers and local banking deals.

Get a free Amazon Kindle Fire when you open a Fulton Bank checking account today.

My Weight Loss Program – Update #3 [Passive Family Income]

Wed, 22 Feb 2012 11:09:57 +0000

Do you live a healthy lifestyle? I have always considered myself to be a fit person. I don’t smoke or drink in excess, although I do allow myself a glass of wine every now and then. My diet has always been filled with fresh fruits and vegetables and I love to run.

All of the lifestyle characteristics I listed above have allowed me to consistently maintain my weight for the last 10 years. Late last year, after researching my latest body mass index (BMI) calculation, I realized that I could still be doing a better job – especially with my weight.

Even though I regularly exercise and eat my fruits and veggies, I have plenty of bad lifestyle habits. For example, I use to eat a lot of processed foods and I had a really bad snacking problem at night. I never really cared about buying organic meats and opted for the cheaper choices of meats at our local supermarket.

I also realized that I could stand to lose about 10 lbs. According to my body mass index, I was considered in a healthy weight range for my height, but was actually close to becoming overweight. While I understand the BMI is a calculation that has some flaws, I felt like my body could drop some pounds, which would benefit me and my family as I approach 40 years of age.

At the start of this year, my wife and I set some healthy lifestyle goals for ourselves. We added vegetables like kale and sweet potatoes to our diet and agreed to both drop a couple extra pounds.

My Weight Loss Program

I want to lose 10 lbs., so I gave myself 10 weeks to accomplish this goal. My first baseline weight (four weeks ago) came in at 172.8 lbs., so my target weight is 162.8.

Here is the breakdown of my first 4 weeks on my weight loss program -

Baseline – 172.8
Week 2 – 172.2
Week 3 – 171.2
Week 4 – 170.8

Over the past week, I was only able to drop 0.4 lbs., which certainly is well below my goal of 1.2 pounds. Collectively I have lost 2 lbs. in 4 weeks, for an average of 0.5. In order to hit my goal of losing 10 lbs., I need to drop another 8 in the next 6 weeks. That averages out to about 1.33 pounds, which is still possible.

Weight Loss Program Tips

I am behind and my weight loss program – but I am comfortable with my results. My goal was to have lost 4 lbs. at this point and I am only half way there. The important thing I want to stress here is that even though I have fallen behind – I am not giving up. I still have lost 2 lbs. and the lifestyle changes that I am making in my life will eventually get me to my goal.

If you are on a weight loss or physical fitness program right now, the most important thing to remember is never give up!

Are you still moving along on your New Year’s weight loss goals? How do you motivate yourself to keep sticking to your goals?

Related posts brought to you by Yet Another Related Posts Plugin.

Can I get a debt consolidation loan if I am self-employed? [Think Money]

Wed, 22 Feb 2012 16:17:13 GMT

Debt consolidation could help you to simplify your debts and reduce your outgoings. But could you get a debt consolidation loan if you're self-employed?

Full article: Can I get a debt consolidation loan if I am self-employed?
Visit: www.thinkmoney.com

Monitoring your Investment Portfolio [Thirty Six Months]

Wed, 22 Feb 2012 10:00:00 +0000

The original idea for this post started with a rant I wrote about women not investing enough. I am now continuing in my series of Learning to Invest.

Incase you missed the first 2 parts, here they are:

When you’re learning to invest, the research doesn’t stop once the mutual funds and other assets are added to your portfolio. Instead, it’s important to regularly monitor the performance of your investment choices so that you don’t end up with a portfolio that at best wildly differs from your starting goals, and at worst, proceeds to bankrupt you in the process, too.

Here are a few key reasons why consistent maintenance prevents financial disaster:

It allows you to adapt quickly to a changing market.
Aids in the identification of under-performing investments.
Helps pin-point assets with a high earning potential.

The best way to monitor your investment portfolio is to establish reasonable benchmarks for comparison early on. In addition to setting long term goals, like ensuring you have enough for your retirement fund, you will also want to throw in some short term monetary goals, as well. For example, paying off a car loan, or becoming a home owner, are both achievable short term goals.

There are three primary types of benchmarks that you will use to monitor the behavior of your investments:

Peer Groups
Market Indexes
Personal Benchmarks

It’s important to learn how to use all three to establish the true behavior of your portfolio. After you have set your personal benchmarks, and established which market indexes are realistic to use for your individual portfolio, then the next step in learning to invest is indentifying when it’s time to cut non-performing investments loose. Although daily, weekly and monthly fluctuations are normal due to the volatile nature of the market, a fund that is no longer meeting the majority of your personal benchmarks over a pre-specified period of time is unlikely to help you reach the ultimate goal of financial freedom.

Tools that Will Help You Monitor Your Investment Portfolio

A well thought out financial plan. One of the best ways to ensure that your investments are on track is to draft out a financial plan that clearly lays out how much financial risk you can allow yourself to take. In addition to making the decision to sell or hold stocks easier, a clear risk assessment will help prevent getting caught up in the moment and spending too much when your assets appear to be doing well. Ideally, this should be prepared well before you start buying stocks and adding mutual funds to your portfolio.
TD Asset Management. If you are uncomfortable taking on the task of maintaining your portfolio alone, then you may want to consider hiring the help of a professional. For instance, the team behind TD Asset Management can not only help you set up customized goals, but they can also help you identify which assets are no longer worth pursuing. Sometimes, the best way to learn how to predict and monitor market behavior is by watching someone else with experience do it – at the very least, don’t forget to ask for advice.

Final Words on Monitoring and Maintaining your Portfolio

While it’s important to understand that your investments will constantly change, you should always keep their overall behavior under close observation. If you don’t, your portfolio may end up deviating from the financial goals you are hoping to achieve – which would undermine the entire point of learning to invest in the first place.

Thank you for being a subscriber! I'd love it if we could carry a conversation in the comments or on Facebook or Twitter so go ahead and add me, I'd love to hear from you. Monitoring your Investment Portfolio is a copyrighted post from: Thirty Six Months

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Is Chapter 11 The End? What Happens To Your Stock [Prairie EcoThrifter]

Wed, 22 Feb 2012 06:58:47 +0000

Bankruptcy – a word that never fails to give anyone the chills. Declaring bankruptcy yourself can be one of the hardest things anyone will have to go through, but this can also be just as difficult if the company that you’ve invested money in is going bust. If a company does declare bankruptcy, what happens to your stock?

What Happens If a Company Goes Bankrupt?

First of all, before you can begin to understand what will happen to your shares, it’s best to know what will happen to the company. A company that has gone bankrupt may choose to use the Bankruptcy Code, specifically Chapter 11, to reorganize the business and try to make a profit again. It can also choose to use Chapter 7, where the company shuts down operations altogether and just simply go out of business.

What Is Chapter 11?

Chapter 11 is when the bankrupt company goes into reorganization under the supervision of a court or any other appropriate regulator. The proceedings of Chapter 11 will require a reorganization plan wherein the company can work out its structure so as to be able to pay off its debts and therefore stay in business. To ensure enforcement, the plan is subject to the court or the regulator. Depending on the plan, the original owners or managers can continue to run the company. But in some cases, the company’s creditors can become the new owners.

What Happens to My Stocks?

This is probably the million-dollar question when a company goes bankrupt and uses Chapter 11. The typical order of reimbursement is this: those who took on the smallest amount of risk will be the first to get paid. In any situation of bankruptcy, the secured creditors who decided to invest with the least possible risk by having their credit backed by a collateral will be the ones to be paid first. Their securities could come in the form of a mortgage or such other securities owned by the company. Creditors are always paid first in the event of a bankruptcy. Bondholders come next because a company’s debt is expressed in the form of bonds.

The company has made a promise to their bondholders that they will pay them a set interest rate, aside from returning the principal at the maturity date. And finally, stockholders, who have agreed to take on the most amount of risk, will be repaid last if there is still any money left.

Should the company choose to use Chapter 11, the company’s securities can continue to trade. However, in most instances, companies that declare bankruptcy are unable to meet with the requirements of the NASDAQ or the New York Stock Exchange. But they may still be able to trade in platforms such as the Pink Sheets or the OTCBB. Whatever the case, federal law does not have any provisions that forbid the trade of shares of bankrupt companies.

When a bankruptcy occurs, both bondholders and shareholders will experience some changes with the way they used to earn with their investments before. For example, fixed interest payments for bonds will no longer be given, while stockholders can expect a halt in dividends. For the bondholders, their bonds may be replaced with either new bonds, new stock, or a mix of both. Stockholders may also be requested to give back the shares that they own which will then be replaced with the shares of the newly reorganized company. Shareholders can expect that the worth of their new shares will no longer be as much as before.

How Can I Stay Informed?

Usually shareholders find out about the bankruptcy in the news. If you employed a broker, your stockbroker should be the one to inform you about what’s going on with the company. If the stock is assigned to your name, then the company should inform you directly. It is possible that the company will ask for your vote during reorganization. But bear in mind that it is highly possible that you will be getting an amount lesser than what you initially invested. Before participating in a voting, be sure to ask your company about details of the reorganization plan so you can be sure you are making an informed decision.

When a company declares bankruptcy, be thankful when they opt for a Chapter 11 bankruptcy because this can still signal a hope for recovery. At the very least, you can get a small amount of your money back in shares. Should the company file for Chapter 7, then this means that your stocks or bonds are basically worthless and you have lost all the money you invested.

Bankruptcy can occur, which is why it is absolutely vital to do due diligence when investing in any company, no matter how popular it can appear to be.

So, have you ever been in this situation? What was the result? I want to know.

This post was written by YFS.

What Course to Take Up in College [Financial Management]

Tue, 21 Feb 2012 21:53:56 +0000

Graduation day is coming nearer and many high school students are still undecided what course to take up in college. Perhaps, many of them still don’t know if they could go in college because of poverty and many factors that they cannot control.

In addition, you probably know that there are many college graduates who can’t get a job after finishing college because of over supply and competition and few job opportunities in the Philippines. This scenario is one of the causes why there are many Overseas Filipino Workers who are risking their lives and family’s welfare just to get a decent job abroad.

There exists also a stiff competitions among the universities where you graduated and it’s been harder for you to land a job if you came from unpopular school. We cannot ignore these facts are happening and we should be able to make a plan so that you can get a job right after your graduation.

I hope this article will help you to decide which course to choose and give you some insights or ideas on some of my recommended courses to take up in college. Please take note that this article is not a professional advice. This post is written for information purposes only.

1. Engineering

First on the list is engineering. Our country needs more engineer in different industries. Even other countries want Filipino engineers to work for their companies. There is a lot of job opportunities in engineering. Maybe you’re asking which one to select because there are many types of engineering.

I’m a licensed metallurgical engineer. Perhaps, you don’t know or heard that there is such a kind of engineering. Basically, it is a branch of engineering that deals with the processing of metals from the mining site, processing and manufacturing these metals to be used by other industries.

If you ask me whether will I recommend this, from the scale of 10 (the highest), I will say 8. Metallurgical engineers are in demand here and abroad where there are many mining sites in countries like Philippines, Australia and some countries in Africa. Other branches of engineering will be also a good option. You can choose mechanical, electrical, civil, or chemical engineering as what you deem suited for your preference.

2. Information Technology

Computers and Internet will stay until the end of the ages. It is a vital component of everyday life. From home to business places, computer and information technology take some of the primary role in carrying out major tasks.

If you are still undecided which course to take up in college, I would recommend to take info-tech-related courses such as computer engineering, computer science, programming, website design, and other computer courses. There are huge opportunities in these courses in the Philippines and abroad.

You may also build your own company in case you cannot get a job from IT companies. As a computer programmer, you can offer your services to businesses and people who want to learn computers, how to make a website, troubleshooting of their computer problems and many more you could ever imagine.

3. Agriculture

This course maybe one of the unpopular courses in college because of the wrong notion about agriculture especially in the Philippines where most of the farmers are poor. However, in my opinion, agriculture is a great career to take up in college especially for students who came from families with big land properties that can be used for farming.

There are also many universities offering agriculture courses in the country such as the University of the Philippines Los Banos campus and the Central Luzon State University. If you are interested to take up agriculture, you can visit their websites to learn more the specific details you are looking for.

4. Medicine

Our country needs more doctors. We lack the supply for doctors because some of them are going abroad to look for a “greener pasture” outside the Philippines. On the other hand, some students want to take up medicine but cannot do so because of the expensive cost of going to this course.

If you’re can afford to pay for the tuition and expenses for this course, you should grab this opportunity and choose to take up medicine. After you graduated, you are very valuable for other people and for the whole country as well.

Finally, I would like to say that these courses I listed is not a guarantee that you will be successful in life or get a job immediately after graduation. However, it will help you to go to the right path and avoid the over supply of professionals that universities are producing.

What to Read Next?

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Fastest Growing Businesses in America [Steadfast Finances]

Tue, 21 Feb 2012 21:03:00 +0000

The following is a guest post.

While many long-standing companies are struggling to grow during the economic downturn, certain companies are growing exponentially as a result of innovation and satisfying consumer demand.

Ideeli

Ideeli is currently the fastest growing retail business in the US, according to INC.’s data. Ideeli experienced a 40% growth in 2011. Ideeli is a website devoted to offering users deals on various products and services. The website’s popularity has resulted from its ability to offer consumers 40 to 80 percent discounts on products. It has specifically catered to those interested in fashion, but struggling to afford it.

Solazyme

INC reports that Solazyme is the second fastest-growing company in 2011. This is a company that specializes in the conversion of plant sugars into renewable oil. This company has been hugely successful in light of the rising gas prices and growing concerns over the effects that carbon emissions produced by the burning of fossil fuels have on the environment.

C2C Outdoor

The third fastest growing company, according to INC., is C2C Outdoor. They are an advertising and marketing company that specializes in out-of-home specialty shops. This company is achieving success as a result of its reputation for flexibility, which has allowed it to make rapid changes in response to changing business climates.

Many businesses are concerned over whether they can they can protect their assets from unexpected loss, such as after a lawsuit or a store fire. Fortunately, a variety of insurance products are offered at BusinessInsurance.org. Those companies that are the most successful not only manage to create products that effectively meet consumer demand, but are also smart with their assets.

5 Tips for using prepaid cards [The Almost Millianaire]

Tue, 21 Feb 2012 20:28:49 +0000

If you are not interested in borrowing money using traditional credit cards, prepaid cards offer you a functional alternative. You don’t go into debt and you don’t owe anything. You are spending your own money that has simply been transferred to the card. Take some time to compare prepaid credit cards to ensure you get the best card, for the best price. Once you have the card in hand, here are five tips for using it efficiently.
Protect Your Card and Your Pin Number
Just like a regular credit card, you want to keep track of your prepaid credit card. If it were stolen or lost, another person could potentially use it to make purchases. Having your pin number would make it even more convenient for someone to take advantage.
Keep your card in a safe place. After you set up your pin number, do not tell anyone what it is. This should be a group of four numbers known only to you. Do not write it anywhere on the card.
As you compare prepaid cards, look into which companies offer you some form of protection for your card. If it is lost or stolen, some companies will allow you to cancel the card. If you had a remaining balance, it can be transferred to another card. There is typically a fee associated with a new card and a transfer.
Keep Track of Your Balance
Unlike a regular credit card, you need to keep track of your balance at all times. Some people choose to keep a ledger (often used for check books) to keep track of the amount you’ve spent and the amount you have left.
If you are at the store and need to pay for something that is $10 but only have $5 on the account, the purchase will not go through. However, if you know that you only have $5, you can ask the cashier to split up the payments, charging your prepaid credit card $5 and paying the rest with cash or another card.
Be Aware of the Fees
As you compare prepaid credit cards, pay attention to the fees that companies charge. Some cards are free to purchase as well as the first time you loan money on to it. Others charge a fee just to purchase the card.
There could be monthly charges or non-use charges. When you add money to the card, you may be required to pay a percentage to the prepaid credit card company. It is worth shopping around to find a card that will work best for you and your budget.

Set Up an Automatic Money Transfer
If you never want to run out of money on your card, set up an automatic transfer each week, each month, or even twice a year. The money can be transferred from your checking or savings account at the bank. You can add money only when you need it, but the regular deposits help you establish a routine. It also prevents you from being stuck in an awkward situation, with less cash than you thought you had.
Other Uses for a Prepaid Card
As you compare prepaid cards, you may find that this is a great way to utilize and keep track of your money without running the risk of going into debt. Take your prepaid card on vacation to ensure that you don’t overspend.
Give a prepaid card to the teenager in your family. This is a good way to teach them a lesson about money, spending and credit. There are plenty of uses for your prepaid credit card.

Great television, and the friends who actually get it… [The UpSide of Money]

Tue, 21 Feb 2012 00:47:52 +0000

Sitcoms have taken a backseat in the past years as shows like Friends and Seinfeld came to an end. Unfortunately, the humor of such programs seems to have been lost to the world, well, unless you’re watching them on syndication, I suppose. Currently, the only program on television that I would consider a worthy candidate [...]

Do You Owe Taxes On Your Credit Card Rewards? [Amateur Asset Allocator]

Mon, 20 Feb 2012 11:00:02 +0000

Last year, Citigroup ran a promotion offering frequent flier miles as a reward for opening a bank account. No big deal, right? Banks offer promotions and incentives all the time. This time, however, it’s a bit more complicated. You see, Citigroup sent out 1099 forms reporting the miles as income and the IRS wants a cut of that income.

What? You mean those bonuses you receive are considered taxable income? According to the IRS guidelines, the answer is a qualified “yes.” The IRS has an article on its website titled What is Taxable and Nontaxable Income? that lists the most common forms of taxable income. While frequent flier miles received from a bank promotion aren’t explicitly listed, the IRS does state that “…generally, an amount included in your income is taxable unless it is specifically exempted by law…” Since I’m not aware of any specific tax laws explicitly excluding bank promotions from taxation, it’s probably safe to assume they are, in fact, taxable.

Why Did Citigroup Send A 1099 In This Particular Instance?

But people take advantage of bank promotions all the time. Why did Citigroup send out a 1099 to recipients in this particular case but not in others? First off, it must be noted that just because you don’t receive a 1099 in the mail doesn’t mean you don’t owe income tax on legally recognized taxable income. You do. The reason Citigroup issued a 1099 in this case seems to be because Citigroup determined the value of the promotion to be $625 (25,000 frequent flier miles at 2.5 cents per mile). Since IRS rules require the reporting of prizes and awards valued over $600, they had no choice but to report it. Hence, a 1099 was issued both to the recipients of the award and the IRS. Had Citigroup valued the promotion at some amount lower than $600, they probably would not have issued a 1099. However, recipients would still be legally required to self-report and pay taxes on the award, regardless of the amount.

This rule makes sense when you think about it. If you went to Vegas and happened to win a new car from a slot machine, you would expect to pay income tax on the value of the vehicle, wouldn’t you? What Citigroup is doing here is really no different. They are simply paying you to be their customer, which is clearly a form of income.

It should be noted, though, that the IRS itself has considered this issue in the past and ruled that, while this income is technically taxable, the IRS hasn’t been enforcing the rules due the complex nature of these types of awards and promotions, at least not yet. That could change going forward, however, as these types of programs are becoming more and more commonplace.

Does This Mean Things Like Credit Card Rewards Are Taxable?

In a word, no. Well, maybe. It really depends on the nature of the reward. The determinant of whether or not a reward is considered taxable is whether the reward in question is connected to a specific purchase or transaction. Cash-back rewards tied to credit card purchases are not taxable because they are considered to be merely discounts in the purchase price of whatever you bought. Think of it this way: if you were shopping a going-out-of-business sale and managed to score a flat screen television for 80% of its original listed price, would you owe income tax on the difference between the original price and what you actually ended up paying for it? Of course not. That’s because the discount isn’t a form of income, it’s just a discount. Both parties, the buyer and the seller, agreed to part with that particular item at a lower-than-usual price for whatever reason.

Rewards not tied to a specific purchase or transaction are usually considered taxable, however. In the Citigroup case above, those 25,000 bonus points weren’t connected to any specific purchase so you can’t apply the “discounted price” argument above. It was compensation for completing a specific action. In this case, it was signing up for a bank account.

In conclusion, you are safe not paying taxes on all credit card rewards tied to actual purchases. Sign-up bonuses, on the other hand, are technically taxable most of the time. Since the IRS is by its own admission not enforcing those rules right now, you’re probably safe not reporting them for small amounts. But for a bonus worth over $600? It’s probably safer to just pay up. Better safe than sorry.

Earn a $50 bonus when you open an Electric Orange℠ checking account from ING DIRECT. Free ATMs and no overdraft fees.*

* But don’t forget to pay taxes on that $50!

Why Seasonal Spending Saves You Money [Millionaire Acts]

Wed, 15 Feb 2012 05:58:17 +0000

Instead of waiting until the last minute to make a purchase, seasonal spending can be a real money saver. Sales come in cycles. You cannot sell ice creams on winter. Likewise, you cannot sell winter clothes on summer. Depending on the time of year and if you are a savvy shopper, you can take advantage [...]

What Is Crowdfunding [Learn Financial Planning]

Sat, 11 Feb 2012 00:30:16 +0000

One of the easiest ways to explain “crowdfunding” is to look to a very casual definition of “crowdfunding” which is the street performer protocol.

If you think of a street performer, you understand the concept. The performer is bringing his or her artistry to the public and asking for donations. The donations are typically fairly small, completely voluntary, and showing appreciation for the artists performance. The artist places no pressure on the viewing public or listening public.

“Crowdfunding” has taken this approach to the Internet. Is a natural outgrowth of the immense popularity of the social network that has become elemental glue in today’s society. This is a new way to gather huge numbers of followers for a specific passion. One of the popular uses for “crowdfunding” has been raising the cash to produce films.
It has been used for disaster relief, political campaigns, software development, novel writing…well the examples are only limited by the human imagination. Below we will analyze the “crowdfunding” sites and look at some of the past and present “crowdfunding” projects. This will show you just how creative this method of fund raising is.

The “crowdfunding” method is a breath of fresh air for entrepreneurs, nonprofits, and individuals in that they accept funding by receiving small amounts of money from regular people who make personal donations to a cause that appeals to them in some way.

Once the power of the internet was realized, some amazingly creative fundraising ventures appeared. One is the famous Million Dollar Homepage (http://www.milliondollarhomepage.com/). This creative way to make money for a personal project emerged before “crowdfunding” as it is now known came into being.
On August 26, 2005, a 21-year-old student Alex Tew, was motivated by the cost of an university education and set up his Million Dollar Homepage. He was about to start working on his degree in Business Management. Tew, a native of Wiltshire, England, was late starting university and did not want to graduate with a huge student loan.

His concept was to sell 1,000,000 pixels on his home page for $1 each thereby yielding himself $1 million. He sold the pixels in blocks of 100. He explained that a single pixel would not be visible so he had to sell them in blocks.

The pixels would display an ad or image and be clickable to the advertisers site. The purchase was guaranteed to be permanent for the duration of the site which would be a minimum of five years.

Tew did sell his million pixels, started university but dropped out after his first year and went on to try other online ventures. Not all were aimed at making big bucks. His 2011 venture is definitely not a money maker. It is http://www.donothingfor2minutes.com/.

This project would not necessarily work on a “crowdfunding” site but it is definitely a precursor of this incredibly inventive innovation in the world of art and social responsibilities.

Crowdfunding is an opportunity for anyone with a need for funding and is willing to put in a little effort to promote his or her idea. Put in the time and the effort and you just might be the next person to get funded from the crowd.

Understanding “Crowdfunding”

“Crowdfunding” focuses on receiving financial contributions from a large number of investors or sponsors for a project. The project is typically a nonprofit endeavor or a creative project. Historically, mentors took on protégés in the arts and literature fields and business barons became involved in nonprofit organizations.

Over time, this type of entrepreneurial support became more organized and large nonprofit organizations raised funds from their membership and through fundraising drives. Girl Scout cookies for instance are a traditional form of fundraising for a specific nonprofit organization.

Musicians, artists and writers often relied on grants in order to get the necessary time to complete their masterpieces. In smaller communities, if families got hit by a disaster such as a fire or illness, often their neighbors would gather together and have a benefit. They would sell tickets to the benefit with the entertainment provided free of charge by local musicians and other performers. Bake sales, cake sales, fudge sales and craft sales would be held to raise funds for the devastated family.

“Crowdfunding” falls somewhere between these two forms of raising money. With the global reach and the diversity of the Internet, it is not surprising that “crowdfunding” has a major presence online. People and organizations with new projects they wish to create and promote have a brand-new venue for fundraising.

In “crowdfunding” there are essentially three different ways of attracting contributions for your project. The first method is straight donations where the people who donate to your project expect nothing in return. The second method involves loans, usually at a low interest rate, that you pay back once your project is successful. The third method is where the funder provides money in return for part of the revenue from your project.

“Crowdfunding” is internet based and you become involved with the website or set up their own website where you can receive donations or pledges from the crowd of people on the internet who are interested in supporting you. Many of these people may not even know you beyond your presentation on a “crowdfunding” site.

How it Works

The “crowdfunding” websites set up the platform where non-techie people could create a single page that describes their project, says how much money they need and the deadline for needing that money. If they offer gifts for support, these gifts are also described. The early websites were Rockethub, Kickstarter and IndieGoGo. These trendsetters and numerous other variations of “crowdfunding” websites are detailed later in the book.

It is worthwhile mentioning that there is no charge to set up your “crowdfunding” project on these sites. However, they typically keep a percentage of funding that you did raise. This can be as high as 9 percent of the funding. In some of the sites the funding is held in escrow until you achieve your goal. With other sites, the money goes to you as soon as it is donated.?? The bottom line is that you need to make people feel excited about your project if you want them to donate even five hundred dollars or just one dollar.

Examples of Successful Crowd Funding Projects

Having looked at the basics of “crowdfunding”, it is a good time to take a look at a couple of successful projects. This shows just how different projects can be.

No ‘X’ in Espresso

http://www.indiegogo.com/No-X-in-Espresso

The project began with a blogger/designer who opened his project by saying, “I publish a blog about coffee and I design things. Before I was a designer, I was a barista. Every time a customer would order an “expresso” it made me cringe. Call it a pet peeve if you will. I was sure I wasn’t the only one in the coffee world who felt this way. So I made a poster last fall. Now that summer is coming, I wanted to wear it on a t-shirt. Here’s your chance to wear one too.”

The project set a goal of $600. The goal was exceeded and the end result was $2,090.
The style was pre-sale. The project owner said, “This is a pre-sale. I don’t want to drop my own money on a random box of shirts that may or may not be the sizes people want. This way, you can pre-order a shirt, I produce only the sizes sold and everyone is happy.”

Taposé: Bringing the Courier to the iPad

http://www.kickstarter.com/projects/1561238414/tapose-bringing-the-courier-to-the-ipad

This kickstarter project asked for $10,000 to create a multifunctional iPad app. If you pledged a minimum of $10, you got a copy of the app. If you pledged a minimum of $35, you got a copy of the app and a digital copy of the workbook detailing how the app was developed. If you pledged the minimum of $65, you got the app the workbook and a stylus for your iPad.

For $100 plus pledge you got the app, the digital workbook, the stylus and a hardcover workbook. For $250 or more you got all of the above plus an engraved iPad case. For $1,500 or more, you got all of the above plus an iPad.

For $5,000 or more you got all of the above plus you had got the tutorial on the app named after you. There was only one reward at this level offered. For 10,000 or more, you would work out a private profit-sharing deal.

The goal: $10,000. Actual “crowdfunding”: $26,561.

Congressional Committee on Raising Capital Online

On May 10, 2011, there was a US congressional hearing on “crowdfunding” and small business capital formation. Sherwood “Woody” Neiss spoke to the House Committee on Oversight and Government Reform regarding a SEC regulatory change.

Neiss, an entrepreneur, recommends that this change would make it possible for small businesses to use “crowdfunding”. The current regulations prevent small businesses from benefiting from the modern ways of capital formation.

In the United Kingdom, there is already an exemption that allows an equity-based “crowdfunding” platform to operate. This is Crowdcube.

Proponents contend that small businesses will not be able to compete if they are not allowed to access private investment online.

If the Securities and Exchange Commission adopts the suggested rules that allows “crowdfunding” to be recognized, the whole experience will be improved in a variety of ways. One of the major benefits would be the ability for companies to use “crowdfunding” for their start-ups. The crowd could get in on a piece of the action for a reasonable donation.

Currently there is a petition asking for “crowdfunding” to be limited to a maximum of $100,000. In 1992, the SEC did permit small companies to issue shares up to a value of $1 million. This meant that regular investors could invest and there was not need for full disclosure of financial information and legalities that are part of larger investment efforts.

This plan was abandoned seven years later because of a problem with fraud where promises were made and not kept. Speaking of fraud, the next section looks at the potential scams and the steps being taken to prevent fraudulent ventures from appearing in “crowdfunding” endeavors.

Disclaimer: In order to know if crowdfunding is legal in your location make sure you check with the site you are using to raise your funds, or if you decide to do it on your own, contact the local or federal securities and exchange department. Better yet, consult with a securities attorney.

New Book: Crowd Funding – The Guide to Raising Capital Online

by David Gass

If you are interested in learning more about Crowd Funding and want helpful tips on how to design your crowd funding project, how to get people to give you money with no loans attached and which websites are best for your type of project to post a crowd funding proposal, get David Gass’ new book Crowd Funding.

Here are the Table of Contents showing what you will learn in this book just over 90 pages in length.

HISTORY
“CROWDFUNDING” DEFINED
FUNDING MODELS
PEER TO PEER OR SOCIAL LENDING
MICRO-FINANCE
PRIVATE FUNDING
ANGEL INVESTORS
THIS NEW APPROACH
UNDERSTANDING “CROWDFUNDING”
WHAT IT IS
HOW IT WORKS
EXAMPLES OF SUCCESSFUL PROJECTS
$6 MILLION CROWDFUNDING PROJECT
WHAT ABOUT THE FAILURES?
WHAT MAKES A PROJECT FAIL?
HOW DO YOU GET STARTED
GENERAL SUGGESTIONS
CHOOSING YOUR SITE
ODDLY SUCCESSFUL PROJECTS
BUILDING YOUR OWN SITE
MARKETING CROWDFUNDING
ATTRACTING THE CROWD
FUND YOUR NEXT PROJECT WITH “CROWDFUNDING”
CROWDFUNDING SITES
MORE SITES
FAILED CROWDFUNDING SITE
BUILDING SUCCESS
ACTION PLAN
LEGALITIES
SCAMSTERS
RESOURCES

Order Today at Amazon.com “Crowdfunding Book“

Preparing For Tax Season: How To Get A Head Start On Your Taxes [Financial Planning Tips]

Wed, 08 Feb 2012 19:26:38 +0000

When most people think of tax time, they no doubt think of the last minute crunch of standing in line at the post office late at night on April 15^th. While you may never find yourself in that late night line, you probably have experienced the rush to get your online forms submitted or hurried to set up an appointment with an advisor. However, as tax season approaches, there are a number of things you can do to prepare in order to get a head start on your taxes.

Be prepared. At the beginning of the year, you will start to receive tax information and necessary forms in the mail that you will need when filing your taxes. Kiplinger.com advises that you begin to keep your eyes peeled for the following paperwork:

W-2 will come from your place of employment and shows your gross income
1099 will come from anywhere you’ve received taxable interest or dividends (i.e., your bank, IRA, certificate of deposit, money market account, mutual funds, stock dividends, etc.)
1098 will come from the lender of your home mortgage loan
1099-G will come if you’ve collected any unemployment
1099-MISC will come if you worked as an independent contractor for any client that paid you over $600

Get organized. Once you start to receive these forms in the mail, the next thing you should do is to create a centralized location to save all tax-related information and paperwork. Whether it’s a file in your storage cabinet, a large manila envelope or a paper-clipped pile on your desk, it’s important that you keep all necessary paperwork together. This will ensure that you have everything you need once it’s time to start on your taxes and that no important paperwork is misplaced.

Figure out how you’ll file. Figure out how you will file your taxes. It is important that you decide this sooner rather than later in order to give yourself the time you need to choose a reliable computer program, an accountant or a tax professional that will file on your behalf. Will you:

File your taxes the old fashioned way?
Use a computer program to file electronically?
Hire a tax professional to do it for you?

Decide on your deductions. Whether you have business and personal finances to account for or just one of the two, you should begin to separate your records, receipts and paperwork beforehand. Or better yet, keep them separated throughout the entire year and save yourself time when you’re preparing for tax season. Either way, you probably have deductions that will no doubt help increase your tax return or decrease the amount you owe. Here are a few common deductions to consider:

Do you use your spare bedroom as a home office? You may be able to write off part of your home as a business deduction.
Did you donate an old couch to goodwill? What about a bag or two of old clothes? Don’t forget to write these off as part of your personal charitable giving.
Have you donated any money to a church or charity? If so, that amount can also be used as a tax deduction.

Keep current. Stay up to date with your state’s tax information by visiting the IRS web site. This site can help you locate the information you need about your city or state’s specific revenue and tax procedures, policies, tax forms, etc. Having the most current policies, procedures, tax forms and rates is essential when guaranteeing that your taxes are filed both on time and correctly.

Investing the minimal amount of time it takes to get a head start on your taxes is sure to save you a lot of time once April arrives. With a little preparation and organization, you’re certain to enjoy a sense of calm during tax season.

How To Hedge Your Portfolio Against Inflation [Amateur Asset Allocator]

Tue, 07 Feb 2012 11:00:05 +0000

Inflation has been pretty tame the last few years (unless you believe the conspiracy theorists, at least), but few believe that will last for long. The recession and subsequent slow recovery have put downward pressure on consumer prices but the sheer amount of money that has been, and still is being, pumped into the economy is sure to catch up with us eventually. And when it does, consumer prices could shoot through the roof.

Sudden Inflation Wreaks Havoc On A Traditional Portfolio

A sharp increase in inflation is bad for almost every asset class in the short term with two notable exceptions, TIPS and commodities. We’ll get to those in a second. First, we’ll examine the two traditional portfolio asset classes to see why they hold up poorly during inflationary periods.

Stocks - While it’s true that stocks are a pretty decent long-term inflation hedge due to the fact that companies will eventually be able to pass along production cost increase to consumers, they actually make relatively poor short- and intermediate-term inflation hedges. This is somewhat contrary to popular wisdom, but here’s why. When the cost of raw materials shoot up, companies have two options: they can either raise their own prices or take a hit to their own profit margins. Companies with strong economic moats such as Coca-Cola and Apple can afford to raise their prices – you don’t think kids are going to go without sugary beverages and hipsters without their Apple products, do you? – but the majority of companies can’t get away with passing along their increased costs right away. So their earnings suffer, at least in the short term. And when earnings suffer, stock prices drop.

Bonds - That bonds are vulnerable to inflation is fairly obvious. Simply put, nominal bonds pay a fixed rate of interest until maturity regardless of what happens with inflation. The longer until maturity, the more exposure a bond has to inflation risk. A 5% interest rate looks decent when inflation is 2% but it isn’t nearly as nice when inflation doubles to 4%. Short-term bonds aren’t as vulnerable because you don’t have to wait as long to reinvest the principal at a higher interest rate.

Investments That Hold Up Well To Inflation

Here are three alternative asset classes that hold up relatively well to sudden spikes in inflation.

Commodities – Raw material, crops, oil. The price of the stuff that fuels our economy is intimately linked with the consumer price level. It’s no surprise that commodities are positively correlated to inflation, even unexpected inflation. Unfortunately, there really aren’t any good low cost commodity mutual funds out there. Among open-ended funds, Pimco Commodity Real Return (PCRDX) is probably your best bet.

TIPS – Treasury Inflation Protected Securities are probably my favorite alternative asset class. TIPS are extremely well-correlated with inflation, which is kinda the point. Like regular bonds, TIPS pay a particular interest rate until maturity. Unlike regular bonds, the principal is adjusted twice annually in response to changes in the consumer price index. If inflation goes up, so does the principal. In the event of deflation, however, the principal goes down. Thus, the interest rate paid on an inflation protected security is in effect its guaranteed real rate of return. That’s a deal you really can’t get anywhere else. Of course, TIPS are only as good as the credit of the U.S. Treasury but I don’t think there’s any danger of a default anytime soon, despite the recent hysteria.

Gold – Yes, gold is an excellent inflation hedge and yes, it may have a small part to play in a diversified portfolio. Not that I’m a gold bug, or anything. I still think gold has too many negative characteristics to make a good long-term investment on its own. But as ballast to a broadly diversified portfolio, I think it can have its uses, particularly when unexpected inflation strikes.

Investments That Are Moderate Inflation Hedges

Here are two more investments that, while not perfect hedges against inflation, can do a decent job of hedging against moderate price spikes.

Real Estate – This could refer to both direct investment in real estate or REITS, although I prefer REITS. The reason I list real estate as only a partial inflation hedge is that prices are determined as much by rent levels as by land and material prices, and rents are determined as much by local supply and demand as anything else. It’s quite possible for rents, and thus prices, to fall even when inflation heats up. Of course, this can’t continue forever. Eventually rents will return to equilibrium with the overall price level.

Cash – Since cash investments are essentially very, very short-term bonds, they have very little inflation risk. Since cash securities mature so quickly, they can always be reinvested at higher rates. Still, this only goes so far. There reaches a point when financial institutions are no longer willing to pay ever higher interest rates on short-term cash deposits, regardless of what inflation is doing.

How to Kick-Start Your Year with a Bang [Rich Money Habits]

Tue, 31 Jan 2012 04:14:12 +0000

Time flies so fast. Especially when you’re enjoying what you do. A year ago, I was counting the hours at the office, eager to leave work and do my own thing. Now, I hardly have time to count because I’m having the time of my life in what I do. I am meeting a lot of very interesting people every day, learning from their own life’s journey, getting mentored by highly successful multi-millionaires and yet very humble individuals. This is life indeed.

Whether you started the year in January 1 or follow the Chinese calendar (Kung Hei Fat Choi!), it’s always a great idea to start the year right and on the right note. This is the season of new year’s resolutions. Of taking new beginnings. Of fresh new look, hairstyle, or even new hope for a brand new year.

Today what I’d like to do is share with you some ideas on how you can maximize this year by starting it right. Let me share with you how I started it, and hopefully you’ll get some ideas of your own.

Tip # 1 – Get Recharged

Right after the new year’s celebrations, I hit the ground running with a 3-day retreat with our guest speaker, none other than one of the most sought-after motivation speaker around the world, Mr Francis Kong! The retreat’s theme was aptly described as Recharge 1.0 because last year 2011 has been a gruelling, but very fruitful and rewarding year for most of us. It really helped me reflect on the past year’s blessings in our family’s, spiritual life, financial and personal. And also provided a venue to recharge for another great year ahead 2012.

This exclusive retreat was organized by XTRM 1-11, and spearheaded by one of my youngest but highly successful and driven mentor, Ms Ivy Dela Cruz. I’d like to share with you a video to illustrate how much fun we’ve had during that 3-days!

Tip # 2 – Get Connected

Right after that retreat I had to go straight to my hometown in the northernmost part of the Philippines to attend my grandfather’s funeral. He lived a long, healthy and meaningful 99 years of his life touching many lives. From what I heard, he died in his sleep and did not have to endure so much pain. But before he died, he was a very loving husband to my grandmother through all those years. I spent my time growing up in the provinces in the company of my grandparents when I was young and I have always had very fond memories of them. It’s an experience I would treasure for a lifetime.

Seeing all my cousins, uncles and aunties and relatives mourn and share their sadness, I realized how death sometimes connects each of us together. All walls break down. All shortcomings are set aside for a moment. All bitterness and shallow misunderstandings are temporarily forgotten.

More than that, while listening to my dad share a story of how my grandfather touched the lives of many people, I realized that we are all passers by in this world. One day, we too shall pass. What is left is the lives we’ve touched along the way. My grandfather certainly had an impact on many lives not only with his 10 children and countless grandchildren, but all the other people who seeked his help. My grandfather had the gift of healing, of being able to pray and be an instrument of God’s love to his people. My dad seemed to have inherited the same gift. What’s great though is that they both acknowledge that it’s simply God working through them to bless other people.

I’ve been very blessed to have a grandfather who had a pure heart. Yes, he had his own shortcomings. But aren’t we all? What matters more is the love he freely shared and blessed this world with.

Cheers to you my grandfather, lilong Kido! Your legacy will live in our hearts forever!

Tip # 3 – Get Organized

After getting a few days rest, I’ve had the chance to get my thoughts together and really plan for this year. I’ve had to really think long and hard what I want to do this year. Last year was really a great year for me and my family with all the blessings that we’ve received. And sometimes I still wonder, what more blessings can I ask God this time?

This was time to dream again. And dream I did! I have lofty goals this year but I’ll leave that for my next article. For now, my tip is for you to take some time to dream and set your goals for this year. Write it down. Cut out some pictures if you can and put it in your dream board.

After setting my goals, my next step was to plan. So, I got myself a planner. Last year, while it was very fruitful it was also a great learning experience for me. For the first time, I had to be accountable for my own results. I had no boss. There’s no one telling me what to do. There’s no one checking on me every now and then if I delivered what I promised.

The temptation was there to simply procrastinate and become lazy. And most of the time, I really was. Without a plan, it’s been a chaotic exercise of wasting time. This time I really wanted to take some time to get organized. So I bought a planner. And the first week I used it, it probably tripled my productivity, and for the first time, I actually got something meaningful done so fast and brisk free!

I’ll share with you some other productivity tools that I do next time, but for now just get a planner and create a plan to get your goals this year.

Tip # 4 – Get Going

Next step for me was to get going and take action. And that’s what I did.

In my business, I meet very interesting people every day, learning from their stories. I learn from their successes and challenges. It’s really amazing seeing through another world out there different from my own. For 9 years, I was in front of computers day in, day out. Now, for the first time in my life, I get to interact with people with colorful lives.

Here I am with my business partners from Cebu gracing our company’s convention in SMX Mall of Asia.

I also had the good fortune of being invited to share my thoughts on stocks investing with almost a thousand PUP banking and finance students this month. I had a really great time enjoying the event, especially in answering the very intelligent and interesting questions from the young and energetic crowd of future business leaders of this country. I still can’t get over this simple token they’ve given me. It’s the first time someone thought of giving me this kind of a wonderful gift. To the PUP banking in finance students, thanks again for inviting me to share with you. All I can say is you guys rock!!!

Tip # 5 – Have fun and enjoy every moment.

Have fun. Enjoy. That’s it. No gets out of life alive. So, enjoy every moment, for it shall pass only once. As Francis Kong always said during our 3-day retreat, “In all things, always GIVE THANKS!”

Here I am enjoying a nice barbecue party for new year with my family at our new home. One of the best new years I’ve had so far!

I also spent my birthday party with friends. Here’s a picture of us munching at Charlie’s Burger.

There’s another photshoot I had just last week which I am even more excited to share with you! Watch out for those pictures!

As you can obviously see, I am having the time of my life! Thank YOU Lord for all these blessings!!! Truly YOU are the greatest!!!

From the bottom of my heart, I would like to also take this time to say THANKS TO YOU my dear reader for sharing in my journey. You are one of the reasons I get excited each day gettting up in the morning, having fun and enjoying this wonderful life! I pray that whatever goals you set for this year, God will grant you the wisdom to create a workable plan to help you bring closer to your goals. I wish you well, and let’s go get our goals together this year with flying colors! Cheers to a successful 2012!!!

P.S. How about you? How did you start your year so far? What goals do you have this year and how I can help bring you closer to those goals? Contact me, if you want a more private discussion. Otherwise, simply leave your comments below.

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Why Obama’s Definition Of Economic Fairness Is Fundamentally Wrong [PennyJobs.com]

Sat, 28 Jan 2012 00:24:00 GMT

During the state of the Union address, President Obama once again made his case for economic ‘fairness’ to argue for more taxes and a larger government.

Obama believes that fairness cannot be achieved by the private sector of the economy, because people and nations are not fair to each other and they will never be without government policy to level the playing field.

Obama said it this way,

“We can either settle for a country where a shrinking number of people do really well, while a growing number of Americans barely get by. Or we can restore an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules.”

The only solution that Obama can see is for the government to step in and change the rules that are causing unfairness that result it economic inequality. Part of this is correct and I’m glad that Obama realizes the source of the unfairness – government policy.

But the part that he does not seem to realize is that no amount of government policy has ever been able to level the playing field. And that is because it is impossible for government to make economic policies that are ‘fair’ and without competitive advantages and disadvantage for someone. The only thing that government policies can do is change which businesses/nations get the competitive advantages and disadvantages.

All Obama can do is take unfair policies away from some companies and create new unfair policies for other companies. The only question is which companies are politically connected to Obama, so they can get the new policies that create unfair advantages for them. But this kind of politically determined ‘fairness’ is not fair at all. In fact, all he is saying is that his influence is for sale to the highest bidding lobbyist.

Obama is saying that the economy is distorted because the government is corrupt with crony capitalism and he is going to fix it with his own crony capitalism. This is exactly what he is doing with his green energy programs, his support for public education to limit school choices and Obamacare crowding out healthcare alternative competitors. He is giving the lobbyist and companies that support him politically the competitive advantages by giving them easy government loans, tax subsidies, price controls and direct handouts.

This is anything but FAIR.

Matthew Spalding from the Heritage Network had this to say;

“The idea that the government can and should step in to guarantee economic fairness is contrary to the founding principles that make America so great-and that enable its citizens to achieve success. It is contrary to the very meaning of the American Dream.”

In all fairness, the fairest thing to do is to reduce government policies, subsidies, price controls and direct handouts. This would provide more opportunity for more people – equally opportunity – to compete in the marketplace for solutions. The result would be lower costs, more jobs and a growing economy.

Obama's idea of fairness is the sources of economic inequality.

---
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Obama Calls For Prolonged Detention Of Anyone That May Commit A Crime [PennyJobs.com]

Thu, 22 Dec 2011 15:51:00 GMT

This is unbelievable; in a speech a few days ago the leader of the free world blamed the previous administration for created an adhoc legal approach to fighting terrorism to hold people indefinitely, then told the nation he was going to do the same thing.

After condemning the previous Administration, in a speech which contained his signature poetic language, Obama told the world that we will hold people for 'prolonged detention' without committing a crime regardless of our laws that say otherwise.

This is against the U.S. Constitution, in which we are a nation ruled by laws, yet Obama has gained the power to act outside of the rule of our law - this is an act of lawlessness.

In the same speech that he condemned the Bush Administration for an adhoc legal approach to fighting terrorism, Obama said his Administration will create his own adhoc legal strategy which will operate outside the legal court system in which all Americans are protected from illegal detention until proven guilty.

Obama is clearly the most radical President the nation has ever seen.

Here is a startling video showing how radical the Obama Administration really is;

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Managing your finances to close the doors on debt – Some tips [Consumer Finance Tips]

Tue, 29 Nov 2011 04:38:43 +0000

Are you on the threshold of filing bankruptcy? Recent reports reveal that an increasingly large number of people are treading on the path of being a bankrupt and 2012 is perhaps going to see double the number of bankrupts that they saw in 2011. Bankruptcy is not only harmful for the debtor but it is [...]

U.S. Downgraded, Possible Bottom Spotted [The Rogue Investor]

Sat, 06 Aug 2011 15:54:17 +0000

Buy on bad news, sell on good. If we take that approach, it seems like a pretty good buying opportunity just on the news that the USA was downgraded from AAA to AA+ by the S&P. Couple that with the fact that we saw the highest volume in a year and a price reversal, I think we just may have found the bottom. Take a look:

The previous trading channel is marked by the orange lines.

Counting Friday’s slight gain, we have fallen 10% in the past 11 days. That is an amount that any technician would consider oversold.

Furthermore, we saw prices dip 11,250 and recover to close at 11,444 (1.7% improvement) on incredibly high volume. Because of that, I think we have seen the bottom. To confirm this Monday needs to move higher on increased volume.

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The Rogue Investor [The Stock Talk]

Wed, 22 Apr 2009 16:17:59 +0000

All of my attention will now be focused on The Rogue Investor. Check it out to strengthen your investing through alternative investing strategies and disciplined portfolio management. Also, you can follow me on twitter o become a fan on facebook.

-Alex Stewart
The Rogue Investor

TheFinanceBlogNetwork.com

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Sudden Inflation Wreaks Havoc On A Traditional Portfolio

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Investments That Are Moderate Inflation Hedges

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What to read next:

Why Obama’s Definition Of Economic Fairness Is Fundamentally Wrong [PennyJobs.com]

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