Personal Finance for the Young and Ambitious

Have you heard the phrase “pay yourself first”? If not, listen up. This one financial trick alone could be the most powerful way to turn your finances around. Read more

Are you a cold-blooded killer? I hope to be. I wake up some mornings in a cold sweat because for the past ten years, I’ve been in an abusive relationship. My abuser? Lots and lots of debt. I’d never advocate killing a person, but I do advocate this: Murder your debt. And start planning now. If you’ve been carrying debt around for a while saying you’ll make a plan to pay it down soon…that time must be now. Unless you like living really dangerous, the global economy is just too uncertain for you to be in debt. Read more

The Wall Street Journal is running this article today: Ten Ways to Protect Your Finances From the Crisis. I agree with most of the suggestions, but I’m adding a few tips for us younger folks without big investment portfolios and perhaps without homes. Here’s a break down of the Journal’s advice and my two cents. Read more

I use an American Express charge card—not a debit card, credit card, or cash—for 95% of my purchases.

Why?

Because American Express charge cards, including the Preferred Rewards Green, Gold, and Platinum cards, provide all the benefits of a credit card—convenience, rewards, fraud and purchase protection, etc.—with one vital difference. Read more

Do you live paycheck to paycheck? Most Americans do. Money comes in on payday, and in two weeks (or sooner) it’s gone. When you don’t have emergency savings, or even a cushion in your checking account, the smallest unexpected expense can put your personal finances in a tailspin. But with a little planning and some discipline, you can stop living paycheck to paycheck and start building financial security—no matter how little you earn, or how much debt you have. Read more

Leticia asks: I received a letter from a credit card company saying that since I have not used their credit card for over a year they will be closing my account. I have had the card for over five years and kept in good standing, but have used other accounts with lower rates. Will this lower my credit score? Read more

Well guys, I was pretty unimpressed with the debate last night. I’m glad neither candidate was totally embarassing to watch, but I simply turned off the TV feeling, well, uninspired. I was inspired, however, by some great blog posts this week. Check ‘em out: Read more

Capital One has lowered interest rates and added or extended 0% APR offers on purchases and balance transfers until October 2009 on several consumer credit cards.

I just snagged a Capital One card to transfer a small balance from a pesky high-rate Citibank card.

Here’s a look at select Capital One credit cards and their interest rates and balance transfer offers: Read more

What does the 2008 financial crisis mean for average people like you and me? Unfortunately, it’s too soon to say. We can, however, begin to reflect on what these messy economics have taught us, and how we can apply that to our personal finances. Read more

If you’ve been thinking about starting to invest in stocks on your own, now’s looking like a good time to “buy low”. Online broker TradeKing is offering new traders a $50 bonus after your first trade…for October only! Featuring $4.95 trades, TradeKing is consistently given high marks in SmartMoney magazine’s annual broker survey, including a win this year for best customer service. Open an account at TradeKing and get $50 now.