Entries in the 'General' Category

Test Your Frugality- Book Giveaway #2-The Tightwad Gazette I & II

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How frugal are you? Well, you can compare your frugal techniques with that of Amy Dacyczyn if you win this book giveaway! I will be giving away gently used copies (in the spirit of frugality after all) of both the Tightwad Gazette (paperback), and the Tightwad Gazette II (hardcover) to one winner.

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To enter, subscribe to my RSS feed or via email to get the secret entry phrase. Email the phrase to me at:

rc {at} thinkyourwaytowealth.com or use the contact form above.

Each email received will be one entry into the drawing.

Bonus! If you mention this contest in a post or roundup, you will receive five (5) entries into the drawing!

The contest will end Saturday, June 28th at midnight. I will take all of the entries and use a random number generator (random.org) to pick the winner. If you are the winner, I will contact you via email to get your mailing address, so you must use a valid email address. If the winner does not respond, I will keep redrawing until I find a winner. Only readers in the U.S. are eligible. I am the final judge on any disputes, etc. relating to the contest. Good Luck!

Is Turning in Criminals for the Reward Money a New Alternative Income Stream?

handcuffs.jpgAccording to a recent New York Times article, and perhaps fueled on by the slow economy the U.S. is now experiencing, local police departments and “crime stopper” groups are seeing an up-tick of people calling in to report crimes or the location of criminals in order to cash in with the reward money. Along with rising gas and food prices, the increase in calls to Crime Stopper hot lines is apparently an economic indicator of the tough times we are facing in this country now, with some of the tipsters saying the needed the money to pay for utility bills or food for their families. Apparently, some of them do pretty well, with rewards ranging from $50 to $1000, and many averaging about $400. Sometimes callers make several calls per week, with some of the tip hot line operators recognizing certain caller’s voices. Supposedly, a lot of the reward money used to go unclaimed, but now tipsters are getting frustrated if they cannot collect the money right away. Some groups are even paying early under certain circumstances. Turning in 2 or 3 suspects a week, and you could make $700+/week, or much better than minimum wage, according to the article.

Wow! I though I was doing pretty good selling things on Ebay, but these guys have me beat by a long shot. The disturbing thing, though, is that it took hard economic times in some of these areas to entice people to turn in wanted criminals. I think that is more disturbing to me than the actual state of the economy. Any thoughts?

Image by Marc Coggins

Less Than Two Weeks Left to Sign Up for the Diamond Class Action Lawsuit Settlement from DeBeers

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Just a friendly reminder, if you purchased a diamond ring, diamond jewelry, or a loose diamond between January  1st, 1994 and March 31st, 2006, you are eligible to sign up as part of the settlement for the diamond class action lawsuit settlement from Debeers.  The deadline to be eligible for part of the settlement, whatever it may be, is May 19, 2008. The amount of money you may receive is dependent on how many people sign up, it could be up to 32% of the purchase price, although it also could be quite small, but hey,  it is free money. Go to  https://diamondsclassaction.com/ to sign up for your piece of the action.

Image by odalaigh

Weekend Roundup-Working on the Weekend Edition

It was a pretty busy weekend for me, I had to go in to work yesterday and today to work on a project that is due in a few weeks. I think we are reaching the home stretch and will be getting things wrapped up soon, which will give me a little free time for a few months, I hope.

I participated in 4 carnivals/festivals over the last week.

The Carnival of Debt Reduction # 137- Graduation Edition was hosted by the Broke Grad Student, and he included my post “Emergency Fund 101: A Crucial Step on the Road to Financial Well-Being”.

The Carnival of Money Stories # 57 was held at the Carnival of Money Stories website, and included my article “Why I’m Not Buying a New Lawnmower this Year Either”.

Lazy Man and Money hosted The Carnival of Personal Finance #150, and must have worked pretty hard as their were 115 articles included! The Lazy Man selected my post “Lies We Tell Ourselves While Spending Money” as an editor’s pick.

The Money Hacks Carnival # 10, Your Money, Your Life was held at the aptly named Money Hacks, and included my post ” How to Simplify Your Finances: Start Small with Automatic Bill Payments”

Thanks to all of the hosts for their hard work, there are some great articles included so be sure to check them out!

Also, congrats to Steve at Bripblap and NCN at No Credit Needed for adding new members to their families recently, and as Steve put it, a new tax deduction.

RSS Awareness Day- The Personal Finance Blogs in my RSS Reader

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Daniel over at Daily Blog Tips, a great site and resource for the blogging community, recently started an initiative declaring May 1st as RSS Awareness Day. He created a site, rssday.org, in order to boost awareness about RSS feeds. While the number of blogs have grown  tremendously over the last couple of years, the number of non-bloggers using RSS is still pretty low, only about 5.4% of internet users. In order to promote RSS Awareness Day and the use of RSS readers to view blog content, I thought I would give everyone a look at the RSS feeds of the personal finance related blogs I ready regularly using Google Reader. You can read more about RSS at rssday.org, but in general RSS readers allow you to keep up with the latest content from blogs around the web in one place using one application (or program) without having to visit each site or open up a large number of emails. This is great for a topic like personal finance, since the more you read and learn the more financially literate you will become. I am positive I have learned something from every one of the blogs listed below.

 Sign up with Google Reader, Bloglines, or any of the other available RSS/feed readers (all are free that I know of)and sign up for updated content from some of the great personal finance blogs listed below today!

Blueprint for Financial Prosperity- Get the RSS Feed
Consumerism Commentary-Get the RSS Feed
Early Retirement Extreme-Get the RSS Feed
Five Cent Nickel-Get the RSS Feed
Free Money Finance-Get the RSS Feed
Generation X Finance-Get the RSS Feed
Get Rich Slowly-Get the RSS Feed
Lazy Man and Money-Get the RSS Feed
Mighty Bargain Hunter-Get the RSS Feed
Money Blue Book-Get the RSS Feed
Moolanomy- Get the RSS Feed
Mrs. Micah: Finance for a Free Life-Get the RSS Feed
My Dollar Plan-Get the RSS Feed
My Money Blog-Get the RSS Feed
MoneyNing-Get the RSS Feed
Prime Time Money-Get the RSS Feed
The Sun’s Financial Diary
-Get the RSS Feed
Saving Freak-Get the RSS Feed
Single Guy Money-Get the RSS Feed
The Digerati Life-Get the RSS Feed
The Dividend Guy Blog-Get the RSS Feed
The Simple Dollar-Get the RSS Feed
Tight Fisted Miser-Get the RSS Feed
Beingfrugal.net-Get the RSS Feed
Antishay Ventenne-Get the RSS Feed
brip blap-Get the RSS Feed
Cash Money Life-Get the RSS Feed
Clever Dude Personal Finance and Money -Get the RSS Feed
Frugal For Life-Get the RSS Feed
My Two Dollars-Get the RSS Feed
The Wisdom Journal-Get the RSS Feed
Blogging Away Debt-Get the RSS Feed
Dividends For Life-Get the a RSS Feed
Millionaire Money Habits-Get the RSS Feed
No Credit Needed-Get the RSS Feed
DebtFREE-Revolution-Get the RSS Feed
Million Dollar Journey-Get the RSS Feed
Chance Favors-Get the RSS Feed
Free From Broke-Get the RSS Feed
Frugal Dad-Get the RSS Feed
I’ve Paid For This Twice Already-Get the RSS Feed
Quest For Four Pillars-Get the RSS Feed
Save and Conquer-Get the RSS Feed
Can I Get Rich On A Salary-Get the RSS Feed
Saving to Invest-Get the RSS Feed
The Dough Roller-Get the RSS Feed

A question for you: What personal finance blogs are not on my RSS reader that should be? I know I am missing some good ones out there. Leave a comment to let me know about them so I can start reading them and learn more. I will add them to the list above as well.

If you have a personal finance blog that is not currently on my RSS reader, please leave a comment to let me know about it as well, if I add it to my reader (which I will as long as it is updated regularly and personal finance related) I will add it to the post above as well. 

Get $25 Free From Revolution Money Exchange

Refer A Friend using Revolution Money Exchange
Revolution Money Exchange, a new alternative to paypal for sending and receiving money over the web, is offering $25 free for all customers who sign up between now and May 15th, 2008. (They recently extended the offer until May 15th). I did it a few days ago, it literally only takes 5 minutes to sign up, and a few minutes later the money is in your account. If you sign up through the link above, you can get the $25 free and I will get $10.  You can then refer your friends and receive $10 for each additional person you sign up. 

They do not pay interest, as far as I can tell, but as a bonus they don’t charge fees either.  The account is issued by First Bank & Trust, Brookings, SD, Member FDIC, a real bank, which provides additional security.

No Credit Needed or Rewards Cards?-Determine Your Personal Credit Card Usage Risk

One of the things that people struggling to get out of debt and start wealth building have problems with is the use of credit cards. Frequently, credit cards are the reason people start getting into debt problems, and they can certainly exacerbate the situation.

You hear the same story over and over, someone will either work to pay off credit card debt, or take out a home-equity or 401k loan, only to start charging things again and building the balances on their high-interest credit cards again. Certainly, one can take measures to prevent this, by cutting up your cards, freezing them in a block of ice, etc. Part of the reason a lot of people, and I include myself in the number, fall back into their bad habits with credit card usage is a lack of an honest assessment of their ability to manage credit card usage in a responsible manner.

To make matters worse, there are certain benefits to credit card usage that many people find enticing. Cash back rewards cards or zero balance transfers give us the promise of “free” or “fast” money, with little or no effort on the part of the consumer.  But they are not without risks, especially for people who have had credit card problems in the past.  Part of the reason I am now digging myself out of appx. $10k in credit card debt is because, I believe, that I am in a “high risk” category. I have always had a problem with running up credit card bills for what I considered important stuff or “emergencies”. I am sure you can probably guess, most of these things were neither really important or real emergencies.

 However, I have always paid my credit card bills on time, and eventually in full, only to run them back up again.  I think that because I always paid my bills I felt like I was managing my credit cards, when in reality they were managing me. It has only been the last 6 months or so, when I came to the realization that I would never build real wealth by continuing along the same path, that I realized I even had a problem.  For me, it will probably be a long time before I will use credit cards on a regular basis again or get back into the “rewards” game.  I do feel like I would be responsible now, as I am not 100% credit card free anyway, but I don’t really fully trust myself.  I do still use them on occasion, but mostly for online purchases where I do not want to use my debit card, or for gas. I try to pay these off even more frequently than monthly. But I also have now built up an emergency fund to take care of real emergencies and no longer will rely on a credit card to bail myself out.

When you realize that your lack of discipline with credit cards is what likely got you into financial trouble in the first place, and don’t blame it on circumstances or bad luck, you then need to make a decision on whether you should really be using them at all.  Certainly, by stopping credit card usage for a length of time, one can begin to make strides on the road to becoming “debt free”.

By examining and determining your credit card usage “risk” potential, you can probably determine if you really should be jumping back into the world of credit card usage, balance transfers, or cash back rewards. Certainly, while many people are more than capable of using a credit card wisely and within reason, and can make money off of them, for others, frequently, the “rewards” are not worth the risk.

11 Ways To Market Yourself at Work to Increase Your Salary

Whether you realize it or not,  everyday at your job is an opportunity to “market” yourself to your colleagues, superiors, clients and others. Frequently, and I know I do this myself, we can get in a rut working in the same office environment day in and day out, and it is hard to stay or even sometimes get motivated to “stand out”. But by understanding that the way you present and handle yourself in the workplace is what defines the type of worker people see you as and taking little steps to present yourself as a serious, confident, and capable worker and leader, you will increase your opportunities in the future for promotion and a higher salary. 

Don’t be a clock puncher- Even if you don’t pay attention to when people come to work and when they leave, rest assured someone, probably one of your superiors, does.  Arriving at work 5 or 10 minutes late everyday and leaving 5 or 10 minutes early tells those around you that you don’t take your job all that seriously. By coming in just a few minutes early, and not running for the door at 4:55 p.m., but staying 10 or 15 minutes later, you will become someone who cares about getting work done and not ready to “fly out the door” when 5:00 p.m. comes.

Take responsibility-don’t play the “blame game”- If you make a mistake with something, own up to it, be honest, and move on.  Everyone makes mistakes. Be honest when you “screw up”, and learn from the experience.

Don’t be a “yes man”- Don’t be afraid to speak your mind or give your opinion when you are asked by others.  You will be respected for your honesty.

Don’t rock the boat, either.- On the other end of the spectrum, however, you also do not want to be known as a complainer or a pessimist, always disagreeing with others and the way the may be donig things.  There is a differnece between constructive criticism and plain old criticism.

Network relentlessly-Even if you are a shy person, it is to your benefit to meet and talk with as many people as possible within your company and professional field.  You never know when an opportunity for yourself or your company is going to present itself just because you decided to be friendly with someone and talk with them. Make it a habit yo seek out new people and develop relationships with them.

Be a self starter- Don’t waste time thinking how you are going to start a project, just go ahead and
 start it.  If you waste too much time pontificating different approaches or thinking about something instead of actually doing it, you will set yourself up for trouble.  Start a task right away, and seek feedback on your approach or results.

Use your strengths, but work on improving your weaknesses.-  Are you not so good at managing people but proficient technically?  Then shine with your technical ability, while working to improve your management skills.

Keep a list of your accomplishments, accolades, etc.- Be ready when review time comes, and don’t be
afraid to toot your own horn.  Your boss may have forgotten how well you completed that project back in February,
as he probably has other things on his mind while he is doing your performance review. (possibly even his own review with his boss).

Delegate to Others- Just because you can do something yourself doesn’t mean you always should.  A good leader knows what to delegate, when to delegate, and who to delegate tasks to.

Assist others, within reasonable limits, whenever possible. Don’t let your work suffer as a result, however. No when to say “no”.

Dress for Sucess- This doesn’t have to cost a lot of money, but dressing nice and keeping your appearance clean and neat helps you promote a professional image.  

Weekend Roundup

The Baglady hosted the Carnival of Personal Finance #142-The Homeless Edition and included my post “Are I Bonds A Good Investment Option Now?” Great job with the carnival this week.

The Broke Grad Student hosted the Festival of Frugality #115-with a ramen noodle theme (brings back memories!) and included my post Saving Money With Your Car-Be Prepared While Driving.

Lynnae at beingfrugal.net hosted the Money Hacks Carnival #2-Gardening Edition, and included my post “What’s The Real Value of a Dollar? It Depends on Whether You’re Paying Debt or Building Wealth

My favorite reading from the past week:

Ron @ the Wisdom Journal- had a post on Five Massive Money Mistakes I’ve Made. I think I have made those five and about 25 more!

Steve at Bripbrap- Started a series on one of my favorite books,Think and Grow Rich by Napoleon Hill. This post goes over the 2nd of the 31 causes of failure.  I look forward to reading the entire series.

 Congratulations to the following PF Bloggers:

Mrs. Micah- had a busy week, launching the Finwikian and joining the M-Network.

J.D. @ Get Rich Slowly-worked his last day at his day job to join the rank of full-time bloggers.

Upromise-Bonus College Savings Throughout the Month of March

  Upromise, the consumer rewards program where you can earn money for college expenses (they recently added a feature to allow you to pay your own student loans, and if you have no one to save for college for you can request a check be sent directly to you) is providing bonus savings with select merchants throughout the month of March. Upromise is free to join, and allows you to save money for college when you make purchases through select retailers, restaurants, and even gas stations. You can also register store bonus cards (such as CVS, grocery stores, etc.) to earn money on specific items.
Below is a list of retailers offering increased savings for the month of March:

Lands’ End 3% Now 5%  
Staples.com 2% Now 3% 
Nordstrom.com 3% Now 5% 
Macys.com 3% Now 4%
PotteryBarn.com 3% Now 4%
OfficeDepot.com 2% Now 3%
Shoes.com 0% Now 9%
Apple 1% Now 2%
hsn.com 4% Now 6%
Patagonia 3% Now 4%
homedepot.com 2% Now 3%
Magazines.com 25% Now 30%
eToys.com 2% Now 5%
Oriental Trading Company 4% Now 5%
PC Connection 2% Now 4%

I have been a member for a little over a year, and have nothing bad to say about Upromise.  A really good way I have found to use it is for business meals, i.e., when I take someone out and can then get reimbursed by my employer-I end up making a little money! Also, restaurants pay a pretty decent percentage, and some have recently raised it as high as 8%. You can type in your zip code on the upromise site and they will give you a list of local participants.

Join Upromise now to save for your children’s education, yourself, or even pay off your own student loans.
Upromise - Turn your everyday spending into college savings