Another one bites the dust! Another year, that is. I started Think Your Way To Wealth in February of 2008, so it has almost been a year that I have been sharing articles and other thoughts with you. I have had good success with the blog as well as my finances, but am looking forward to an even better 2009!

Thanks to all of the readers out there, for all of your support!

Below are some of my favorite posts from throughout the year:

February

Which Seinfeld Character Are You Most Like When It Comes to Money?

Use Extreme Measures to Eliminate Your Debt or Increase Savings

March

30 Ways To Stretch and Maximize Your Dollar

Top Ten Ways To Aggravate Your Spouse or Signficant Other With Your Frugality

April

Lower Your Medical Bills Through Negotiation, Cost Comparison, and Haggling

Lies We Tell Ourselves While Spending Money

May

10 Great Ways For College Graduates to Start Off on the Right Track with Their Finances

The Easy Way to Budget for Irregular Expenses Using A Separate Checking Account

June

Tweaking the Debt Snowball to Fit Your Life

10 Money and Life Lessons I Learned from My Father

July

Why Making More Money Trumps Spending Less in the End

6 Key Tips for Starting a Part-Time Business

August

The ABC’s of Personal Finance, Saving Money, and Investing on the Internet

25 Smart Budget and Money Saving Tips for College Students

September

The Peril of Living Paycheck to Paycheck- Are You One Step Away from a Financial Disaster?

Teaching Kids the True Value of Money

October

Is it a Smart Move to INCREASE Your 401k Contributions Now?

Asset Allocation and Your Age- Finding the Proper Allocation that Makes You Comfortable and Reduces Risk With Your Retirement Investments

November

Is Lifestyle Inflation Keeping You in Debt or from Saving More Money?

10 Tips for a Financially Stress Free Christmas

December

Debt Reduction by the Overwhelming Force Method

Should You Try to Get Rich Quick or Just Get Rich Slowly?

I also participated in 3 carnivals this past week-

The Skilled Investor hosted the Carnival of Financial Planning and included my article “Going from Debt to Wealth- A Closer Look at Dave Ramsey’s 7 Baby Steps Plan”

The Fraud Files Blog hosted the Carnival of Personal Finance # 185-Cheesehead Edition, and included my article “How’s my 401k doing in the current market? I’m not really sure!”

Ask Mr. Credit Card hosted the Carnival of Debt Reduction #169 and included my post “Debt Reduction by the Overwhelming Force Method”

Also, Ben from Money Smart Life posted The Best Money Posts of the Year and was kind enough to include my article “35 Ways to Kick Start Your Debt Snowball”. Be sure to check out all of the great articles included.

If you haven’t yet done so, be sure to subscribe to the Think Your Way To Wealth RSS feed, or via email to get all of the latest posts and updates free.

Credit Crisis Concerns? Get 20% off FICO credit scores now

• Weekend Roundup- Enough With the Storms Already Edition
• Weekend Roundup- It’s not the Heat, It’s the Humidity Edition
• Weekend Roundup- Xmas Edition
• Weekend Roundup- Quick Holiday Edition
• Weekly Personal Finance Links- Spring is in the Air Edition

Happy New Year from Think Your Way To Wealth!

I hope you and your family have a prosperous 2009 and achieve whatever financial goals you are striving for!

Photo by Jerry

Credit Crisis Concerns? Get 20% off FICO credit scores now

• Independence Day, Financial Freedom, and Being Thankful for What You Have
• Developing A Burning Desire to Improve Your Finances-Part II-Key Traits of Success
• Merry Christmas!!!
• Which Seinfeld Character Are You Most Like When It Comes to Money?
• Developing A Burning Desire to Improve Your Finances-Part I- Motivation

Merry Christmas!

Best Wishes and Happy Holidays to everyone!!

My family and I will be spending the afternoon visiting family, after a morning of watching our kids (ages 2 and 4) open presents in a near frenzy.

Hope you are enjoying the holiday season with your family, friends, or those you love.

Enjoy the day and try to relax a little!

Credit Crisis Concerns? Get 20% off FICO credit scores now

• 10 Tips for a Financially Stress Free Christmas
• Weekend Roundup- Xmas Edition
• Happy Thanksgiving from Think Your Way To Wealth!
• Weekend Roundup- Quick Holiday Edition
• Links For Valentine’s Day Tips-Procrastinator’s Edition

Illinois Governor Rod Blagojevich was arrested this morning on a variety of charges, including that he tried to sell the U.S. Senate seat now vacated by President-Elect Obama. As the governor of Illinois, Blagojevich has the power to name the replacement in the senate.

How much does a U.S. Senate seat cost these days? According to a Wall Street Journal article, Gov. Blagojevich was looking for a job for his wife in the range of $150,000 per year, and that a unnamed person apparently approached the Governor with an offer of $500,000 in exchange for giving another unnamed person, called “candidate 5″, the seat.

Was his asking price enough?

President-elect Obama spent over $800 million on the Presidential election, and Sen. McCain spent over $500 million. (Source: Wall Street Journal). It seems that a seat in the U.S. Senate should be worth more than 500k. Certainly it is not worth as much as becoming president, but I think many senatorial campaigns spend in the $10 million range. Was he offering a discount since it wasn’t a full term? I am not sure, but $500k or a $150k/year job does not seem like a whole lot for a job with that much power and influence-especially when candidates spend $5 to $10 million dollars or more to get elected.

Seriously though, this is pretty disturbing stuff. I am glad that it was stopped before it actually happened, but it does disturb me that some politicians see their office solely as a means to increase their own net worth and live a lavish lifestyle, to the detriment of taxpayers.

What are your thoughts on these allegations? Are you shocked, or have you come to expect these types of things? Do you think his asking price was too low?

Credit Crisis Concerns? Get 20% off FICO credit scores now

• Update: Latest Details on the Obama Stimulus Plan-Will it Work?
• Weekly Personal Finance Links- The Obama Inauguration Edition
• Weekend Roundup- The Election is Over Edition
• Free Stock Trades During the Month of October from Zecco
• Do we really Need a Second Stimulus Check or New Stimulus Package?

I ran across an interesting animated video called “Money as Debt” by Paul Grignon on the internet recently. It is an interesting look at money, the banking system and argues that money is created by the creation of debt. While some people may see this as an “evil banking system conspiracy” video, I do think there is some information here that you may not know, and it seems fitting in light of the current economic situation and banking and credit crisis.

Note: The entire video is about 47 minutes long, so you may not want/be able to watch it all in one sitting. Also, the 1st 10 seconds or so are blank, but the movie will start.

Money as Debt

How do you think money is created? Do you think an alternative system should be looked in to?

Credit Crisis Concerns? Get 20% off FICO credit scores now

• Weekend Roundup- Quick Holiday Edition
• Why Some College Students Manage Their Finances Better than Middle-Aged Adults
• 35 Ways To Kick Start Your Debt Snowball
• Create Your Own Personal Financial Bailout Plan
• 15 Ways for Teens to Make Money this Summer

Have you gotten into the Christmas spirit yet? I haven’t quite gotten there yet, my wife usually does on Thanksgiving Day and likes to call me the Grinch because I’m not quite as in to it as she is. I’m getting there though. I’d actually rather be called Scrooge, but that’s just a personal preference……..

I participated in 3 carnivals this past week.

The Mighty Bargain Hunter hosted the Carnival of Personal Finance- Cyber Monday 2008 Edition and included my article “Going From Debt to Wealth- A Closer Look at Dave Ramsey’s 7 Baby Steps Plan”

My favorites from the COPF:

Death of Index Investing and Other Silly Stats at Four Pillars

Year End Retirement Account Moves at Cash Money Life

Living Almost Large hosted the Festival of Frugality #154 and included my article “Teaching Frugality to Kids”

Great reads from the FOF:

Frugality Goes Mainstream at Value for Your Life

Finding Low Cost Entertainment posted at Uncommon Cents

Ask Mr. Credit Card hosted the Best Crazy-Simple Money Hacks Edition and included my article “Tipping- Developing a Tipping Policy You Are Comfortable With“

Great reads from the MH Carnival:

Waste not, want not – old school tips posted at Miss Thrifty

Decorate this Christmas with a Budget at Where You Are Now

Other good reads from my RSS reader:

Prepare for an Increase in Mutual Fund Expense Ratios from Generation X Finance

Black Friday vs. Buy Nothing Day at The Happy Rock

3 Financial Spreadsheets at Mrs. Micah as part of the M-Network’s 12 Day’s of Christmas-which are all personal finance related.

If you haven’t yet done so, be sure to subscribe to the Think Your Way To Wealth RSS feed, or via email to get all of the latest posts and updates free.

Credit Crisis Concerns? Get 20% off FICO credit scores now

• Weekend Roundup- Xmas Edition
• Weekend Roundup- Economy, Economy, Economy Edition
• Weekend Roundup- No A/C Needed Edition
• Weekend Roundup- The Election is Over Edition
• Weekend Roundup- Thanksgiving Week Edition

Here we are a little more than a week after one of the most (if not the most) historical elections in U.S. History, and the news media is already back focused on the economy and the related economic problems. Will the government bail out the U.S. automakers? Stay tuned and find out later this week, perhaps.

I participated in 2 carnivals this past week.

SVB at The Digerati Life hosted a unique and very creative Fierce Financial Tips: The Carnival of Personal Finance #178, Struwwelpeter Edition, and included my article “How 15 Minutes a Day Can Improve Your Finances”

My favorites from the COPF:

Eight Financial Questions for Success in a Bad Economy from Money Smart Life

The Way to Wealth: Nuggets of Wisdom from Benjamin Franklin-Heavy Taxes at Crackerjack Greenback

On a Quest to be Debt Free hosted the Festival of Frugality-The Veteran’s Day Edition and included my article “10 Ways to Save Time- Which Can Help You Save and Make Money”.

Great reads from the FOF:

Thrifty Thanksgiving Tips at Happy to be Home

12 Tips To Lower Your Heating Bill at FIRE Finance

Other good reads from my RSS reader:

Is Now the Right Time to Invest from Moolanomy

Tips to get out of the Financial Red Zone at Single Guy Money

If you haven’t yet done so, be sure to subscribe to the Think Your Way To Wealth RSS feed, or via email to get all of the latest posts and updates free.

Credit Crisis Concerns? Get 20% off FICO credit scores now

• Weekly Personal Finance Links- Will the Stimulus Actually Stimulate the Economy?
• Weekend Roundup- The Christmas Spirit Edition
• Weekend Roundup- Thanksgiving Week Edition
• Weekend Roundup- Xmas Edition
• Weekend Roundup- Election Day Edition

Update: Check out this post for updated details of Obama’s stimulus package proposal.

Now that the election is over, there is increased talk of trying to get a second stimulus package passed before Christmas, which could potentially include a second stimulus check. While nothing is certain yet, I imagine it is likely that president-elect Obama will have an influence on the package if it comes before he takes office; obviously he will if it takes place after he takes office.

Reuter’s recently published information on Obama’s proposal for a second economic stimulus package. Some of the highlights that might effect individuals personally include the following:

• Give businesses a $3,000 refundable tax credit for each new full-time employee hired in the United States over the next two years.

• Implement a 90-day foreclosure moratorium for homeowners making good faith efforts to pay their mortgage debt.

• Extend unemployment insurance for long-term jobless workers who have exhausted their benefits, and temporarily suspend taxes on those benefits.

• Temporarily allow penalty-free withdrawals of 15 percent from tax-preferred retirement accounts up to $10,000.

• Suspend rules requiring retirees to begin withdrawing from retirement accounts six months after they reach the age of 70.

• Reform the bankruptcy code to assist homeowners and remove legal impediments to encouraging more mortgage restructuring.

• In the longer term, Obama would roll back some of Bush’s tax cuts for the wealthy. He proposed a permanent tax cut of $500 for most individual workers and $1,000 for families. He also would eliminate taxes for seniors making up to $50,000.

• To help jump-start the economy, the tax cuts would be expedited through refunds based on 2007 tax returns. He would also provide a 10 percent refundable tax credit for mortgage interest to taxpayers who do not itemize their returns.

I am not sure if the penalty-free withdrawals from retirement accounts is a good idea, especially with so many people’s accounts having been battered by the falling stock market. Changing the rule on withdrawals after 70 sounds like a good idea to me though. If someone wants to leave their money in the account to have a chance at regaining some of their loses, that may help.

What do you think about some of the components of Obama’s plan?

To get the latest news and updates on the new stimulus package or checks, subscribe to the Think Your Way To Wealth RSS feed, or via email to get updates delivered for free.

Credit Crisis Concerns? Get 20% off FICO credit scores now

• Do we really Need a Second Stimulus Check or New Stimulus Package?
• A Look at the $8000 First Time Home Buyer Tax Credit for 2009
• Don’t Let Last Year’s Stimulus Check Mess Up Your 2008 Tax Return
• Things to Consider if Your Company Cuts the 401k Match
• Do Government Bailouts and Payouts Mean Higher Taxes in the Future?

Making, earning, and saving money is not a zero sum game- just because you increase your salary, start living frugally and save more money, and get your finances on track doesn’t mean someone else loses. In fact, once you start accumulating wealth and get your money straightened out is a great time to give back to those a little less fortunate than you are. Besides providing for your family, paying for your kid’s college, and living the type of retirement lifestyle you want, building your own wealth can allow you to do something else:

Help others, especially those who do not have the means to help themselves, financially.

Think about what you can do for others if you are financially free. If helping others is not part of your motivation to improve your own finances and becoming financially independent, add it to the list. If you are able to do something to improve your financial position, you are more fortunate than many people in this country and around the world.

Some of the riches people in the world are also some of the greatest philanthropists. Prodigious accumulators of wealth are able to devote tremendous resources to helping reduce poverty.

• Bill Gates retired recently from the day to day operations of Microsoft to devote more time to his foundation

• Warren Buffett will donate most of his fortune to the Bill and Melinda Gates Foundation

Now you and I may never amass the billions of dollars of a Bill Gates or Warren Buffett. But that doesn’t mean we can’t contribute. Those of us who have the opportunity and the means to help other should, to the extent we are able.

How can we help in the fight against poverty?

Think local and global- Living on the outskirts of one of the poorer cities in the country, New Orleans, I have seen the face of poverty around me in my day to day life. But there are other parts of the world where even the people we consider poor here in America look fairly well-off. Do what you can locally to improve your community, but don’t forget to help others around the world as well. Help someone out on Kiva.org or donate to a worldwide charity.

Donate money as well as time- Even if you are unable to help financially at the moment, as you improve your personal financial situation, remember to give something back. You can also donate time to various organizations and charities, and even donate unused household items or clothes to organizations such as the Salvation Army or Goodwill Industries.

Spread the word-Let others know how they can help out as well. For example, if you are bringing donations to a charity, ask your friends and neighbors if they have anything they would like to get rid of. Let people know what charities you support (you don’t have to go into details about how much you give), or let them know that you volunteer time to a local organization. You will likely be surprised how many people will offer to help or want to learn more.

This post is part of the 2008 Blog Action Day on the topic of Poverty. Check out the link below to find out more!

Credit Crisis Concerns? Get 20% off FICO credit scores now

• Personal Finance Links- Help Relief Efforts in Haiti Edition
• Charitable Donations To Haiti Relief Effort Tax Deductible for 2009 Taxes
• A Simple Lesson in Wealth Building From the Forbes Billionaire List
• If You Use GEICO for Your Car Insurance- Are You Eligible for a Discount that You Don’t Know About?
• Mastering Frugality- The Art and Science of Saving Money

With all of the serious economic problems happening these days, I figured a little humor was in order. I remember seeing this on Saturday Night Live a while back (or it may have been on the web), and I ran across a transcript of the skit (starring Steve Martin as the husband) a while back, but never got around to posting it. The real funny thing about it is how true it is. If you only buy “stuff” you CAN afford, you will have a whole lot fewer problems when it comes to your finances. Hope you enjoy!

Opens with couple trying to balance their checkbook.

Wife: (sighs) I just can’t get these numbers to add up.

Husband: Like we’re never going to get out of this hole.

Wife: Credit card debt, does it ever end?

Announcer: (walks in) Maybe I can help.

Husband: We sure could use it.

Wife: We’ve tried debt consolidation companies.

Husband: We’ve even taken out loans to help make payments.

Announcer: Well, you’re not the only ones. Did you know that millions of Americans live with debt they cannot control? That’s why I developed this unique new program for managing your debt. It’s called “Don’t Buy Stuff You Cannot Afford.”

Wife: Let me see that… (grabs book and starts reading) “If you don’t have any money, you should not buy anything.” Hmm, sounds interesting

Husband: Sounds confusing.

Wife: I don’t know honey, this makes a lot of sense. There’s a whole section here on how to buy expensive things using money you save.

Husband: Give me that(grabbing book back). And where would you get this saved money?

Announcer: I tell you where and how in Chapter 3.

Wife: Ok, so what if I want something but I don’t have any money?

Announcer: You don’t buy it.

Husband: Well let’s say I don’t have enough money to buy something. Should I buy it anyways?

Announcer: No.

Husband: Now I’m really confused!

Announcer: It’s a little confusing at first.

Wife: Well what if you have the money, can you buy something?

Announcer: Yes.

Wife: Now take the money away. Same story?

Announcer: Nope. You shouldn’t buy stuff when you don’t have the money.

Husband: I think I got it. I buy something I want, and then hope that I can pay for it right?

Announcer: No. You make sure you have money, then you buy it.

Husband: Oh, THEN you buy it. But shouldn’t you buy it before you have the money?

Announcer: No.

Wife: Why not?

Announcer: It’s in the book. It’s only one page long. The advice is priceless and the book is free.

Wife: Well, I like the sound of that.

Husband: Yeah, we can put it on our credit card.

Announcer: So get out of debt now, write for your free copy of “Don’t Buy Stuff You Cannot Afford.” If you buy now you’ll also receive, “Seriously, If You Don’t Have the Money, Don’t Buy It!” Along with a 12-month subscription to “Stop Buying Stuff Magazine.” So order today!

Credit Crisis Concerns? Get 20% off FICO credit scores now

• No Credit Needed or Rewards Cards?-Determine Your Personal Credit Card Usage Risk
• Discussing Money Issues With Your Wife or Husband
• 20 Thoughtful Valentine’s Day Gift Ideas That Won’t Break the Bank
• Living On One Income- Tips for Going From Two Incomes to One
• When is it OK to Hide Money-or Keep a Money Secret- from Your Husband or Wife?

If you haven’t yet done so, be sure to subscribe to the Think Your Way To Wealth RSS feed, or via email to get all of the latest posts and updates free.

It’s been one of those weeks-or a couple of them in a row actually. Very busy at work, lots of other activities going on, and plenty of things to be done around the house. Oh well, hopefully it should start tapering off in the next week or two…..

I participated in 3 carnivals this past week.

The Personal Financier hosted the Carnival of Personal Finance # 170, Famous Last Sentences Edition, and included my article “The Peril of Living Paycheck to Paycheck- Are You One Step Away from Financial Disaster?”

My favorites from the COPF:

Everything You Wanted to Know about Asset Allocation at Moolanomy

Another Reason for an Emergency Fund at Single Guy Money

Living Almost Large hosted the 143rd Festival of Frugality- Celebrity Edition, and included my article “Finding Your Frugal Comfort Zone”.

My favorites from the FOF:

Fifteen Ways to Have Cheap Fun With Your Kids Using a $1 End Roll of Paper at The Simple Dollar

Free Museum Days From Bank Of America at Free From Broke

On a Quest to Be Debt Free hosted the Money Hacks Carnival # 30-Fall is in the Air Edition and included my post “The Office Football Pool-Waste of Money or Harmless Fun”.

My favorites from the Money Hacks Carnival:

More Coverage, More Risk, Less Cost posted at No Debt Plan

Carpool Your Way to Happiness posted at My Daily Dollars

Credit Crisis Concerns? Get 20% off FICO credit scores now

• Weekend Roundup- The Christmas Spirit Edition
• Weekend Roundup- New Theme Edition
• Personal Finance Links- Mid Week Edition
• Weekend Roundup- Xmas Edition
• Weekend Roundup-Lazy Summer Weekend Edition

I evacuated from the New Orleans area for Hurricane Gustav last Sunday with the wife and kids and I returned home on Thursday. Over the weekend, Tropical Storm Hanna moved up the east coast, and now, Hurricane Ike looks like it is headed to south Texas. But it is not just hurricanes that can cause you to lose power, damage your home, or cause you to have to leave you home for a period of time. Thunderstorms, tornadoes, flooding, snowstorms, wildfires and other natural disasters and emergencies all have the potential to cause serious disruptions to your daily life and routine for you and your family. Being prepared for these types of emergencies can keep your stress level down, and by planning ahead of time you can minimize disruptions and get through them safely.

Staying At Home

If you are at home or not evacuating, certain supplies are necessary if you lose power or become confined to your home for several days.

If You Evacuate

If you have to leave your home for several days, you need to make sure you take care of quite a few things before you leave and bring certain items with you besides clothes.

There are lots of other things you can do to prepare yourself for a hurricane or other weather related emergency. But by planning ahead and following a few of the basics, it can make things go a lot easier and help you get back to normal quickly.

Credit Crisis Concerns? Get 20% off FICO credit scores now

• Operate Your Household Budget Like a Company or Business Would- Freeze Expenses in a Weakened Economy
• Emergency Fund 101: A Crucial Step on The Road To Financial Well-Being
• Living On One Income- Tips for Going From Two Incomes to One
• List of Tax Free Holidays by State for 2009
• States With Upcoming Tax Free Holidays in 2008