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Many suburbanites spend tens of thousands of dollars on toy tractors like this, so they can maintain their mini-estates. However, the allure of playing pretend farmer wears off quickly, and these toy tractors are often not very functional,...
Sunday, October 31, 2010
Borrowing is not a Privilege!
Borrowing is not a Privilege! Of course, nor is it a right.Note: I will be traveling for the next two weeks, so this is my last entry until mid-November.One interesting thing reading about other people's financial problems,...
Saturday, October 30, 2010
Credit Repair Scams
You can't " repair" a bad credit report or increase your credit score by paying someone to fix it for you. If there is erroneous data on your report, you can have that corrected, for free, yourself.People obsess about...
Should You Start a ROTH IRA? Maybe Not.
At cocktail parties you may hear a friend of yours say something like, "I just started a Roth IRA - it's a good deal, you should get in on it!" or they may say, "You should think about converting your regular IRA to a Roth IRA! ...
Converting Capital Gains to Ordinary Income
As I noted in my Converting Ordinary Income to Capital Gains posting, one neat trick that you can do, if you are in a high tax bracket, is to use depreciation deductions to reduce your income - offsetting ordinary income by the depreciation deduction allowed on a rental property, for example.It is a neat trick, as it defers the taxation to a later date (when you sell the property and pay the capital gains tax) and it also may...
Friday, October 29, 2010
50 MPG? Big deal, we were doing that in the 1980's!
A lot of ink has been spilled lately about " hyper-miler" cars such as hybrids, that get 40-50 mpg. But what people forget, is that such cars existed, nearly 30 years go, routinely getting over 50 mpg, at a very low cost. ...
Renting a Boat - cheaper than owning?
This Grand Banks can be rented for $2000 a week, which sounds like a lot of money until you calculate how much it costs to own it. See Chitwood Charters for more information.Boats are a lot of fun. But unless you live...
The Key to Saving is .....Saving
Want to make a million dollars in the market? You may have to invest at least half that first, if not more! In order to save for retirement, you have to, well, save.CNN Money is often brilliant at stating the obvious,...
Thursday, October 28, 2010
Buying CRAP - Just Stop Doing It!
Bed, Bath, and Beyond sells this useless Mouthwash Dispenser for $19.95. That buys a lot of mouthwash. Many Americans go broke with Credit Cards, buying this sort of trivial bullshit that is utterly unnecessary to living...
Shit Happens - Prepare for it.
Medical Bills are the Number One Cause of Bankruptcies and Financial Distress in this Country. And yet few are prepared for what can be a likely occurrence in their lives.Shit happens, as they say. And yet most of us are...
Do you want a Platinum Card?
Status Credit Cards are marketed as being the indicia of wealth and sophistication. And yet many folks in the trailer park have them!The other day, I was perusing this "Debt Guy" website and saw this posting, from a lady who...
Debt Reduction Scams
One of the heartbreaking aspects of the recent recession has been the rise in debt-reduction scams.Debt reduction scams - what are they? It is hard to get good information online. The FTC website only obliquely talks about...
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