One of the most common questions I get from readers (and curious acquaintances) is how much money should I have saved by 30? (Or by 25, 22, etc.) Of course, it's always seemed to me to be a silly question, because everybody has totally unique … [Read more...]
Should You Be Reluctant to Use Your Emergency Fund?
May 11, 2009 By
The goal of having an emergency fund is two-fold. For one, your emergency savings can replace your income (at least for a few months) should you lose your job. But an emergency fund has another equally-important function: to allow you to pay for … [Read more...]
Online Savings Accounts Provide Benefits Beyond Yield
April 3, 2009 By
These days, savers are bemoaning the plummeting interest rates on online savings accounts. Just two years ago, rates were 4%, 5%, even 6%. Now most online savings accounts pay yields less than 2%. Although I did write about alternatives to high yield … [Read more...]
More About Closing Credit Card Accounts and Your FICO Score
March 26, 2009 By
One of the most common questions I receive via my contact form is: “Can I close old, unused credit card accounts without hurting my credit score?” Most often, the answer is no. Here’s why. … [Read more...]
Alternatives to High Yield Savings Accounts
March 6, 2009 By
Anybody with a high yield savings account knows that the rates on these accounts are pretty dismal these days. Although some banks, including top-rated FNBO Direct, continue to pay competitive rates (as high as the market will allow), you can’t … [Read more...]
In Recession, Save Cash Before Paying Debt: Do You Agree?
March 4, 2009 By
At first, I was shocked to read that Suze Orman is recommending you pay only your minimum credit card payments and instead save cash in an emergency fund. It’s a total about-face from what Suze and probably 98% of personal finance writers typically … [Read more...]
How to Open an FNBO Direct Account, Step by Step
February 16, 2009 By
There's a lot of buzz out there about FNBO Direct, high-yield online savings account from the First National Bank of Omaha. So I have to ask: If you're not earning one of the best savings rates in the country yet at an account that also offers a free … [Read more...]
401(k) With Company Match or Roth IRA?
February 10, 2009 By
Rivka asks: I’m 25 and switching jobs. My old company didn’t match 401(k) contributions, so I put 6% of my salary into a Roth IRA. My new company, however, matches 100% on the first 3% of my salary that I contribute to their 401(k) and 50% of the … [Read more...]
How to Change Your Primary Financial Institution
December 1, 2008 By
Banks and credit unions want your business, and many offer new customers great perks like ATM fee reimbursement, totally free checking accounts, even cold hard cash. Problem is, swapping your primary financial institution isn’t as easy as, say, … [Read more...]
Win $5,000 from ING Direct This December
November 28, 2008 By
ING Direct is running a promotion for Electric Orange checking account customers this December. Make five purchases of at least $10 each with your Electric Orange Debit MasterCard in December 2008, and automatically be entered to win $5,000. … [Read more...]
I'm David Weliver. At 26, I had NO savings and NO financial plan. I was maxed out, stressed out, and fed up. Then, I changed. I repaid $80k of debt, tripled my income, and bought a home. I'll show you how to get similar results. 