Money Management

The 10-10-10 Rule for Spending

The April issue of Glamour Magazine features a short piece by Suzy Welch explaining the theory behind the 10-10-10 rule. The rule is simple: before you make a decision, ask yourself: “What will the consequences of my options be in 10 minutes, 10 months, and 10 years?” Then act accordingly. In her example, she describes a time she took her 2 young kids on a business trip to Hawaii, and…
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The Dos and Don’ts of Combining Finances after the Wedding

Adam commented on my post about how we save 25% of our income. “I am just in the process of getting married, and learning about the whole process of combining our finances.” To help Adam, and any other couple, here’s a quick outline of the process. My husband and I agreed that we would set up a joint checking account after we got married. We could have set it…
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It’s Time for a Mid-Year Financial Check-In

Most people remember to check their investments, retirement accounts, and financial goals at the end of the year, but you should also check-in with your finances in the middle of the year to make sure you’re on track. This weekend, take a few minutes to check the following areas. Retirement Accounts and Savings If you’ve invested your retirement in index funds, you probably won’t need to do any…
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Six Year End Preparations

2010 is nearly over, and I am thrilled. 2010 was easily one of the worst years of my life. I’m eagerly looking forward to 2011. With that in mind, I’ve outlined six things I need to do prepare for the new year. Set New Goals Because this year went so badly, I don’t think I met any of my goals for 2010. I’ll check tomorrow. So, it’s time…
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7 Easy-ish Steps to Achieve Your Financial Goals

Okay, you’ve set your financial goals, or fitness goals, or personal goals, for 2009. You’ve recorded the list somewhere you’ll remember to check. Now what? Here are seven easy steps to help you achieve any goal, but especially financial goals. Make Sure Your Financial Goals Are Reasonable We all have grandiose goals – I’d like to save $4 million dollars for retirement. But that’s not on my list of…
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Finding Unclaimed Property

Every few months there’s a new story about unclaimed property. News crews travel to public places armed with computers and help people find thousands of dollars of unclaimed property. Fortunately, you can find your property yourself without paying fees to anyone else or waiting for a news crew to happen by. What Is Unclaimed Property? For the most part, unclaimed property is money you are owed, but payer…
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Small Expenses Do Add Up

One of my financial resolutions for the year was to track my spending for one month. I chose January in order to start the year off with a bang. Recording my purchases wasn’t really that challenging. It helps that I’m something of a miser, and therefore don’t really spend much money to begin with. For my records, I only tracked money I personally spent. I didn’t track the bills my…
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Alternatives to Debit Card Fees

Yesterday, the CEO of Bank of America argued that the bank has a “right to make a profit.” They do, in fact, have that right. But that doesn’t mean you have a responsibility to help them with that. If you regularly use your debit card and don’t want to pay the new $5 fee each month you use the card, you have a few options for avoiding the…
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2 person writing and explaining on a wooden table for fsa claims

Tips for Filing FSA Claims

I’ve only recently begun filing FSA (flexible spending account) claims, but I’ve learned a few things on How does FSA works. How do FSA Claims works? So again, How does FSA works? Well, Here are some of the few things I've learned along the way. • Use Your FSA Debit Card If you have an FSA card, swipe it first, it works! My HR department recommends using it…
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