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Consumer Credit Cards Credit cards. We just can't seem to live without the little devils. Just when you think you have everything under control, you hear about a new card with a picture of your favorite rock band, and you just can't resist. Well, if credit cards are giving you trouble, the Net can help. Here is a lot of information about credit cards, including current data to help you find which card is best for you. Web:
Currency Converters Are you planning a trip? Sending money to a foreign country? Or maybe you just want to know what the francs in your Swiss bank account are worth today. No problem. Just a few clicks of the old mouse button and you'll be able to see what any amount of money is worth in another currency. I have also included a site that has historical data, useful when you need to answer such questions as "What was your Swiss bank account worth at the end of last year?" Web:
Estate Planning, Wills and Living Trusts Estate planning is important for everyone. If you die without a will, the government has a great many rules that will determine what happens to all your money, property and possessions (that is, your estate). There is no guarantee that what eventually happens will be what you want. However, if you make up a will ahead of time, there is much more chance that your wishes will be followed. Moreover, proper estate planning can often save your heirs a great deal of inheritance tax. If you are married, or if you have children, you absolutely must have a will. Let me tell you a personal observation. I don't plan on dying any time soon, and I don't even like to think about death. However, I did have a will made and, once it was done, I felt good about it. It brought me peace of mind. Just do it and you will see what I mean. Here are some resources that can help you understand estate planning. In addition, at one of the sites you can read the text of the wills of various famous people, such as Elvis Presley, Jerry Garcia and Richard Nixon. Web:
Getting the Most from Your Money Don't let anyone ever call you cheap. As one of my readers, you have excellent judgment and, of course, that extends to money matters as well. Some people may think you are frugal, but let those people throw their money away. You and I can find the bargains and get the most for our dollars. Here are a few good places to look for tips, hints and Internet resources that can help you spend your money wisely. If you would like to talk to other people about living frugally, check out the Usenet group. Web:
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Household Budgeting Sometimes it seems that, no matter how much money you make, it is never enough. Well, that's true for two reasons. First, probably no one ever makes enough money in the sense that there is always something else to buy. However, the second reason is more important: many people simply do not know how to budget their money wisely. Realize that budgeting well is something that you have to learn (and practice). At first, living with a budget may seem like an imposition. But once you get used to it (if you created a good budget for yourself), you will find that spending and planning within your means is a comfortable way to live. Web:
Insurance Information Insurance is something we buy, hoping that we will never use it. There are many types of insurance, and you can't always depend on the salesman to make sure you understand everything. Here are some useful consumer tips that could end up saving you money (and time) when it comes to understanding your insurance needs. Web:
Mortgage Calculators If you have your eye on that choice piece of property down the road and you want to see just how bad the mortgage will bite into your wallet, put one of these mortgage calculators to work. Simply enter the buying price, the interest rate, and a few other pieces of information. A program will give you a fully amortized schedule or a brief summary of what you will be paying in principal and interest, your monthly payments, and what you should be earning to be able to afford the house. Web:
Mortgages Buying a house will probably be the most expensive purchase you ever make. Since houses are so costly, you will probably have to borrow money by taking out a mortgage. To do so, you use the house as collateral, and borrow money to be paid back in equal monthly payments over a number of years. Each time you make a payment, some of the money goes toward paying back the loan, but a big chunk is interest: the fee you pay for borrowing the money. Over the years, the total interest adds up. For example, say you borrow $250,000 at an interest rate of 8.0% and pay the money back over 30 years. Your monthly payment will be $1,834.41 (not including property taxes and homeowner's insurance). Over 30 years, you will make 360 payments (30 years x 12 payments/year), for a total of $660,387.60 ($1,834.41 x 360). In other words, although you borrowed $250,000, you will end up paying back $660,387.60 (2.64 times what you borrowed), of which $410,287.60 is interest. As you can see, mortgages are expensive, so it behooves you to spend some time finding the best rate you can. Moreover, mortgages are complex transactions that involve a number of fees that you must pay just to get the loan. These resources can help you search for the very best loan you can find. As you do, I have three pieces of advice. First, take your time. Second, compare the prices you find on the Net with what is available at your local lending institutions. Sometimes a local bank can give you a better price. Finally, look for a lender that is easy to work with. When I got a mortgage, I shopped for more than the price -- I looked for the company and the people I wanted to deal with. My mortgage officer (whose name is Diana) was great, and she was always available when I needed her. As you look for the best interest rate, see if you can also find yourself a Diana. Web:
Pensions A pension is a regular payment that is made to an employee who has retired, either because of age or disability. There are a lot of complex laws and regulations governing pensions, and if you need information about your pension or pensions in general, here are some resources you will find useful. In particular, you can learn about the Pension Benefit Guaranty Corporation (PBGC). The PBGC is a corporation set up by the United States government to insure pensions. The PBGC protects about one out of every three working people in the U.S. Web:
Personal Finance Tips and Resources It was so much easier when you were a kid. Your biggest money worry was trying to figure out how to break the piggy open without anybody noticing. Now there's all this tax stuff, deductions and annuities, investments and exemptions. At least the Net can make it a little easier to sort out all the information. Web:
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Retirement Planning Here's a simple but effective way to save for retirement. Throughout your life, set aside 10% of every paycheck. No matter what happens, always set aside the 10%, and never ever use the money for anything else except retirement savings. Now, in the course of a lifetime, it is certain that financial emergencies will arise and, when they do, you are going to be tempted to "borrow" from your retirement money. The key to accumulating wealth is to resist that temptation. Every month, even before you pay your bills, set aside the 10%. If you learn to live on 90% of your income, you won't notice much difference day-to-day, but over the years, you will build up a significant nest egg. What should you do with your retirement money? If you are more than 10 years from retirement, invest the money safely in the stock market using, for example, a growth-oriented mutual fund, or a fund that tracks the S&P 500. Retirement planning is an important issue, and there are lots of resources on the Net that can help you. To get you started, I have picked out a few good Web sites. These resources are especially helpful if you live the United States. However, please remember what I said: no matter where you live, no matter what you do for a living, save 10% of everything you take in and invest it wisely. I want to ensure that, when you retire, you will have enough money to buy all the Harley Hahn books you ever need. Web:
Tax Preparation Ah, the glorious month of April. The birds rejoice at the dawn of spring. Earthworms happily aerate the soil to stimulate new growth. A delicate breeze blows. And you are stuck inside doing your taxes. Isn't life cruel? Try to make it as painless as possible by planning ahead. Get handy instructions, hints, answers -- even tax forms -- on the Net. Then go catch some rays. Web:
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Teaching Kids About Money It is important that children understand money. But how do you know what to teach them and when? The Net can help. Check these Web sites for articles about many useful topics such as children's allowances and teaching good spending habits. Explore by yourself and then invite the kids to join you. After all, if you make sure that your kids understand money and how to use it, you will be providing them with valuable knowledge that will last a lifetime. Web:
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