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Guest Post: 15 Little Ways to Save Money Throughout the Week
2008-06-02 10:54:00
This is the perfect time to start tightening your belt. Not only is the economy still struggling, summer is here and many of us would like to take a vacation in the next few months. If you are left with too little after paying your bills, perhaps you need to start focusing on little ways to save money. Add all of these frugal habits together and you will actually save quite a bit of money throughout the week. Switch from name brand groceries to store brand. Pack all lunches for school / work. Join a carpool. This helps the environment and your budget. Turn off all lights as soon as you leave a room. Water the lawn at night, as evaporation from the sun will waste water. Set your lawnmower to cut the grass as short as possible. Keep your showers brief. Consider hand-washing your dishes if you don't have a full load to clean. Save your leftovers for a second meal. Eat everything in your pantry before you make a new trip to the grocer...
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Ben Stein Talks Retirement P 2
2008-06-01 19:16:00
Hi All, This is the second part of Ben Stein 's video on retirement. Stein has this wonderful monotone voice that reminds me of his performance in the 1980s flick "Ferris Buellers Day Off". So, every time I watch this video I think about that movie and it cracks me up. That said, I think the video does have some important retirement points so please do check it out. Best, James
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Its Not Easy Being Less Rich
2008-06-01 17:20:00
...is the title of the latest NY times piece.The paper is reporting that due to the economic downturn many of New Yorks wealthy are becoming less rich. As a result they are experiencing more marital problems and higher levels of stress... Somehow I have a hard time sympathizing.Click here for the story.Best,James
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Ben Stein Talks Retirement
2008-05-31 23:56:00
Wait a minute here, does anybody really know what Ben Stein is talking about? Anybody, anybody, anybody? Bueller? Bueller? Bueller?Best,James
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Book Review: Millionaire By Thirty
2008-05-31 17:17:00
Today's posting is review of Millionaire by Thirty:The Quickest Path to Early Financial Independence. The book is a joint effort by financial adviser and author Douglas Andrew and his two sons, Emron and Aaron.Millionaire by Thirty is an unconventional book. Many of its recommendations fly in the face of traditional thinking about personal finance. In this regard, one is both intrigued with the content, but also somewhat put off - much like watching a street corner preacher or listening to a radical politician.Parts of the book are very conventional - the Andrews argue for aggressive saving, budgeting, homeownership and building a good credit history. However, the authors perspective differs from traditional financial advice with respect to mortgage debt reduction and arbitrage. Gurus like Dave Ramsay and David Bach generally argue that mortgages should be eliminated, but Millionaire by Thirty says this is problematic because you're left with a bunch of illiquid equity whe...
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Liquidizing your Home Equity to Build Wealth & Security
2008-05-30 13:01:00
As a nice follow up to yesterday's post on when to borrow against your home, I wanted to share an article that just changed my outlook on life.First I'd like to thank DividendPrivate for tipping us off on this article, How the Affluent Manage Home Equity to Safely and Conservatively Build Wealth .I can't tell you how much you need to reach this article!Frequent readers will know that James and I have been considering taking out a mortgage on our investment property to access the equity that has built up, making that money work for us, rather than simply be tied up in the property.We have also been working hard to pay off our second mortgage, almost having paid off $20k since the New Year. While this was done with the best of intention, I now see the error in our ways!I see that we should have been building up that fund for investment, rather than paying off our mortgage first. You really have to read the whole article, but I'll outline some of the key points here:Every dollar we...
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Money Saving Tip of the Day
2008-05-29 16:58:00
Today's Money Saving Tip Is:Use Google. If you are shopping online, search under the keywords "online coupon" and the name of the product you are searching for. You can sometimes score free shipping or price discounts. For some major websites like Amazon.com, its a bit tougher to local good coupons, but it never hurts to try. Especially if you're shopping for a big ticket item.Best,James

Finding Deals
2008-05-29 16:00:00
Hi Folks,Here's another posting dedicated to finding you good deals on stuff online. While we are advocates for keeping your money in your pocket and buying less stuff, sometimes it is inevitable. When that time comes, consider checking out these sites to find the best deals out there:Dealhunting.com is a clearing house for all sorts of promotional codes. It also gives you an at a glance look at what sales are currently going on.Dealtime.com is very helpful as you can search products by price range, type of product, or specific brand. Once you've narrowed down what you want, it shows you the prices at a number of stores.Reesycakes.com is a site for you shoppers out there. They'll help you find the deals.Happy Sales!Miel

When To Borrow Against Your Home?
2008-05-28 16:15:00
Hello All,A major source of wealth for many Americans is home ownership. However, home ownership usually impacts your wealth through equity accumulation - or the residual difference between what you owe on your mortgage and the market value of your home. This creates a problem for homeowners: real estate equity is not liquid - its not like cash or stocks which can be easily exchanged or sold. This leaves the homeowner with an asset they cannot easily access. - This is problem if you want to aggressively build wealth.One option for getting at the equity in your home is take out a loan against it. However, there are several guidelines that you might consider when deciding on borrowing against equity. These apply for both lines of credit (HELOCs) and bread and butter equity loans.Its okay to borrow when:1) You hate borrowing, it stresses you out.2) The loan is used to consolidate unavoidable consumer debt - like a car loan - and you pay it off fast.3) The funds are used for major inves...
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Town for Sale: only $45, 410
2008-05-27 22:00:00
Hi All,If you're interested in an amusing diversion, evidently there is an entire town available for sale in Texas. It's not much of a place, the entire town only has 4 or 5 buildings, but since the whole kit and kaboodle is going for like $45,000, it's worth looking at. Check out the ebay listing here.Best,James
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Visualize your Goals
2008-05-27 13:09:00
Us DINKs believe strongly in visualizing your goals. We have done this consistently with all of our goals and find it to be both helpful and fun. Our first was a hand drawn thermometer on the back of our bedroom door, for saving for our place.Most recently we saw some real results with our web traffic. We were on one of our regular calls when we started talking about how to increase our web traffic. I decided to work my magic on publisher and tweak our traffic reports to show that they are double what they currently have been. I figured that this would give us a goal and a nice visual to back it up. See below:The incredible thing is, our traffic more than double the very next day. See below:While the web traffic dropped back down again afterwards, I'd like to think that there was no coincidence that we had the biggest increase in traffic we've ever seen in a day. Not bad for results there.Pertaining to our general finance goals that we've been working on for the end of th...
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Money Saving Tip of the Day
2008-05-27 08:02:00
Today's Money Saving Tip Is:Go Shopping with a List: The main idea here is if you shop with a list, you're far less likely to impulse purchase or buy things you won't ever use. My wife and I are totally guilty of this. We often go shopping with only a general idea of what we need. That said, shopping with a list is a proven way to cut your expenses.Best,James

Goals without Limits
2008-05-26 21:00:00
Lately I've been contemplating putting exact numbers on your goals.Part of me definitely sees the value of defining your goals and setting specific time frames and parameters in place. Otherwise you would be working towards a vague goal; you wouldn't even know when you reached it.At the same time, I also consider that while we stretch ourselves to reach those goals, we are also limiting ourselves in a sense. By telling yourself, and the world, that you are capable of only so much - you thereby limit yourself. While I don't have any analytical data on it, it seems very common that one peeks as they reach their goal. This means that while a goal might challenge you, it also puts a mental cap on what is possible.So I've been thinking about how best it is set your intentions towards a specific goal, while still being open to going beyond that. I suppose part of it is just how you frame the goal, and how you talk to yourself about it.I still haven't figured this out myself. If r...
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Keep your Dream Alive
2008-05-26 13:52:00
Today I wanted to share a piece of inspiration from one of my favorite Beth Orton songs with the line, "I wanna keep your dream alive, can I keep it with mine?"To me this is the epitome of a committed relationship. It is all about being there to support each other in going after your dreams. Some of these will be joint, but many will also be individual. It is essential that a couple is able to balance this.It also means supporting each other through it all. In certain cases this means helping your partner keep their perspective, like James' short term obsession with buying land in the middle of Texas. But at other times it means supporting your partner in their dreams, just as they are. Accepting them for what they are without wanting to change them, just as a good relationship.The reward in all of this, is that you too have that support in whatever wacky dream you believe in. I know that some people will read this, and say, "Yadda, yadda, such a luxury for the young DINKs."...
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Praying for Prosperity
2008-05-25 13:20:00
We DINKs don't often get religious on you, but I thought folks would enjoy hearing about my adventures today. We went to a mountaintop Buddhist temple that is most commonly visited when seeking wealth and prosperity. I of course put our latest goals out there into the universe for all the help we can get!It was a fun and interesting day, particularly visiting such a site with a group of inquisitive Afghan Muslims. They were intrigued by it all and open to learning more.Reflecting on the day, nearly reclining myself, it reminds me that your mind is your most potent resource in acquiring wealth. No matter your religious beliefs or cultural background, I believe that your mental outlook on life makes such a difference.Believe in yourself and your dreams and there are no limits to what you are capable of.Miel
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Is Washington Mutual the Worst Bank Ever or What?
2008-05-24 23:03:00
So, many of you know about the congresswoman from southern California - Representative Laura Richardson - who lost her house to foreclosure last month? Well, the story gets thicker. Now it looks like she had in fact worked out a payment agreement with the lender. Despite the agreement, somebody at the bank didn't get the message and had the place sold anyway.Guess which bank it was?Thats right...Washington Mutual !!!We've had nothing but trouble with Washington Mutual (1,2,3,4,5) and hearing this news just convinces me that the bank is the worst run financial institution in America today. It is bad enough to accidentally foreclose on some poor schmuck, buts quite its another thing to do it to a member of congress. You would think they'd be smart enough to keep a special file for important people, but no, they couldn't even get that right. Seriously, if I were CEO Kerry Killinger, I would resign in shame and move to Alaska to hide.Check out the news story, the WaMu rep tries har...
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The Wealth of John McCain
2008-05-24 18:46:00
One great thing about American politics is its fascinating relationship to American money. Unless you live on mars, you know this is an election year. You're probably also aware the race is shaping up as contest between the Republican John McCain and either Hillary Clinton or Barack Obama of the Democratic party.A headline on the race caught my eye yesterday. Evidently the wife of the republican nominee, John McCain , reported over 6 million in taxable income in 2007 (clicky). Now, since you're reading this blog, you probably know that taxable income isn't always a good indicator of wealth. So, I sat down and did a quick back of the envelope looking and John and Cindy McCain's financial situation.As near as I can tell, there have been two serious credible analysis looking at their wealth. The Center for Responsive politics has analyzed their federal disclosure forms and projected the maximum value of their wealth at $45,045,011. However I spoke with center's PR representative an...
More About: Wealth

Portland DINKs House
2008-05-24 14:46:00
Happy Memorial Day Weekend!I'm excited to announce that my twin sister and her husband are putting their place up on the market this weekend. They live in a perfect DINKs place in a great neighborhood in Portland , Oregon. Previously DINKs, they've enjoyed their place as DIOKs (Dual Income One Kid) for the last couple of years and are now planning to upgrade to DITKs (Dual Income Two Kids)!If you live in, or have friends, in Portland please pass this on to anyone who might be interested. If you don't live in Portland, you can drool at what $274,900 can buy you in the beautiful Pacific Northwest! Attractive and energy efficient home right across from Arbor Lodge Park. Full of original character & features. Hardwood floors, tiled fireplace, French doors, original millwork. Beautifully landscaped with native and perennial garden, pleasant backyard with covered patio. Many mechanical upgrades. Low energy costs from full insulation, new windows, efficient furnace, & more.Li...
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Money Saving Tip Of The Day
2008-05-23 20:53:00
Toady's money saving tip is:Turn off the lights. Leaving the lights on can increase your power bill. For example, a standard 60 watt light costs you an average of $4.40 a month to run. However, if you turned it off for 8 hours a day, it would cost only $3.00 to run. That's just one bulb. If you get in the habit of turning off all the lights before leaving for work, your wallet will definitely feel the difference.For more information on how to save electricity, you might consult Michael Bluejay's saving electricity homepage.Best,James
More About: Money , Saving

Celebrities and Wealth
2008-05-23 16:14:00
America worships celebrity. As a society, we tend to view celebrities as having better judgment, as being more ethical, more attractive and more worthy of attention that average people.In my searches for financial information on the internet, I've come across some interesting links on the relating to celebrities and their financial lives. It seems that if you take a closer look at the finances of many celebrities, some have done incredibly well, others have failed and filed bankruptcy.While its undoubtedly easier to become wealthy if one is famous, it would seem that process of making money shouldn't matter based one's celebrity status (e.g. the stock market doesn't care who owns shares, its about supply and demand). I've given the matter some thought, and although I've by no means thoroughly considered all angles, its seems that regardless of ones celebrity, some principles for building wealth still apply:1) Living below one's means2) Building and maintaining a business3) Ma...
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Check Out These Blogs
2008-05-22 20:42:00
Hi All,If you're like us, you probably read a number of personal finance blogs. But you probably don't have a lot of time to sift through the thousands of blogs out there. To make it easier for you, here are two of my favorites.Wealth Building Lesson is run by a Californian entrepreneur named Nirav. I like this particular blog for a number of reasons. First Nirav's net worth is off the charts for someone of his age, so he has a fair amount of experience with making money - far more than most personal finance bloggers. Second, he writes some great posts, for example his piece on tax strategies employed by the wealthy is instructive for even those without a lot of money.Another blog I recommend reading is Budgets Are Sexy. I met the author J at a happy hour a few weeks ago. He's got one of the most amusingly written and well designed blogs to come out in a while. If you're interested in a light hearted read, definitely check out Budgets are Sexy.Best,James
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Stuff breeds Stuff
2008-05-22 15:11:00
So I've been on a kick lately of contemplating need vs. want.I'm currently in Ho Chi Minh City, Vietnam for a month, where there are absolute tons of must haves. From silk clothing and purses to home wares and art, there's something for everyone.As I've made my way around the city for the past three weeks I contemplate what I might get during my travels.The thing I've come to realize, aside from the reality that there really isn't a great deal that most of us Westerners actually need, is that stuff breeds stuff.The only two things I have bought were reactions to stuff I already had. I have a camera that I've been looking for a rechargeable battery set that can still be used back in the states. I finally found the right one, and bought this. I also happen to have the world's largest work laptop, perfect for all of my travels, and keep struggling to find the right bag. I managed to find a cute and functional one here for less than twenty bucks and picked it up.Granted that...
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Our New Goal For 2008:$440,000
2008-05-21 20:38:00
Hi All,When we were chatting via skype today, we figured out that our net worth growth had nearly broken the $400,000 mark! This is really excellent news because it means that we are 10% towards our overall retirement goal of 4 million! It also means that we've set a new goal of $440,000. This to be accomplished by the end of the year. Thats an annual growth rate of 10% in 7 months. Its a bit of a stretch, but our back of the envelope calculations suggest we can reach 60% of the targeted growth without much effort. For the rest, we'll just have to rely on ingenuity and hard work.Wish us luck!Best,James
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Anatomy of a Stock Chart
2008-05-21 17:30:00
Hi AllThis posting is a brief outline of two key elements of a stock chart. It is intended to provide some basic thoughts for beginners on how to understand stock charts. Reading a chart is easy, you just need a basic understanding of math. The two fundamental features are: the shape of the line and volume.Line shape and volume are clearly seen in the example below. The graph below is from the Exxon Mobile corporation. The line represents the market price over the past 30 years. The bars at the bottom are the volume.In the chart above, the stock price of Exxon has increased steady. The volume has also increased - you can tell because the bars on the bottom part are taller in more recent years. Understanding both of these metrics is important for determining if your stock is a good investment or not. Why? Read on.1) Volume: This is the number of shares traded withing a given time period. Volume is important for two reasons. First, you want to be sure that you can sell your stock in...
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Money Saving Tip of the Day
2008-05-20 21:52:00
Today's money saving tip is:Get a free checking account. Many interest bearing checking accounts are loaded up with additional fees. While most free checking accounts do not earn interest, the amount that you save in fees with a free checking account may be worth not earning interest on your deposits.Best,James
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Why Blacks and Hispanics Are Poorer
2008-03-25 16:10:00
Hello All,Todays posting tackles a difficult topic - the role of race in attaining wealth.Race is the classic American problem. In many ways the reality of race differentials in American society illustrate an ongoing discrepancy between our enlightenment ideals and socioeconomic reality. From the civil rights era to current debates surrounding the Obama candidacy and immigration policy, racial differences have demonstrated that they still matter.More importantly, race matters for wealth building. Generally speaking African Americans and Hispanic families have lower overall levels of net-worth. Relatative to other groups, they are less likely to inherit, own homes or stocks. Its an uncomfortable fact, but nonetheless a fact.Why might this be? There are a number of explanations. Among these are discrimination and culture. The discrimination hypothesis argues that people don't like minorities and therefore choose not to employ them or let them into prestigeous univerisities, etc. The ...
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It pays to follow up!
2008-03-25 06:57:00
Not everyone has to deal with reimbursements from the office, but in many positions where travel is required it is a regular part of work.After finally having a troublesome reimbursement issued I thought it was a good time to remind folks about how important it is to double check your reimbursements and keep good track of these sorts of things. Otherwise it can be very easy to loose money that you've already paid out on behalf of your employer.In this case, it was actually a reimbursement for $94.64 from booze and drinks at our center's 2006 holiday season. Though approved in advance, the person checking the reimbursement disallowed the cost because it was alcohol (even though a special charge code was used). I noticed this at the time of reimbursement, checking against what I had submitted, and the fun and games began.It has now been over a year of follow up with finance, on and off, but in the end it is simply against my principles to pay for work expenses that are legitimate...
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Finance Tips For Seniors and Military Personnel
2008-03-24 22:03:00
Hi All,We DINKs are snowed under with work today, so we wanted to quickly make you aware of a website designed specifically for older investors and military personnel. The webpage is maintained by the FINRA, or the Financial Industry Regulatory Authority. The FINRA is the securitie's industry regulatory body which is supposed to keep an eye on stockbrokers so the government doesn't have to.Evidently one of their missions is education. They've got a website specifically for people who are over 50 or are in the military. Surprisingly, some of the content is pretty good.Check it out here.Best,James
More About: Military , Finance , Tips , Personnel , Seniors

10 Ideas that are Changing the World
2008-03-23 16:19:00
Happy Slow Sunday!I just wanted to share an interesting article from Time magazine about the Ten Ideas that are Changing the World .Many of of the ideas are interesting, but the ones that are most pertinent to DINKs are:The New Austerity - The article claims that folks will start trimming the fat and living within their means. While James & I would like to advocate for this, we don't know if we've seen the same trend through our blogging. Our experience is that our postings on credit cards create much more discussion than savings or stock market investments. This suggests more people are familiar with borrowing using credit cards than investing in the stock market or saving money. Common Wealth - This article is all about how will will have to learn to live together in a global economy.Check out the full list here:Common WealthThe End of Customer ServiceThe Post-Movie-Star EraReverse RadicalismKitchen ChemistryGeoengineeringSynthetic AuthenticityThe New AusterityMandatory Heal...
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Why Episcopalians and Jewish People are Richer
2008-03-22 19:40:00
Religion is one of those topics that's unexplored when it comes to personal finance. If you surf the web, you won't find much discussion of it. If you read the Wall Street Journal or Investors Business Daily, you hardly see a mention of religion at all.This is a shame. If you look at it, religion has played a defining role in much of human history. For example, religion was partly responsible for early European immigration to the United States, and historical differences between Christians and Muslims are an important subtext in our nation's current efforts in the Middle East.But, what a lot of people don't understand is the impact of religion on patterns of individual wealth building. In this case, religion matters and it matters a lot. According to a great analysis by Lisa A Keister, Jews and Episcopalians are way ahead of the curve when it comes to building wealth. According to Keister, about 18% of Jewish and 12% of Episcopalian families have over a million dollars in networ...
More About: People , Richer