International Money Advice from Plonkee Money
The financial crisis is affecting not just you and I but people all around the world. This week we’ll look at an international view on personal finances from Plonkee Money. Unlike the other financial sites we’ve featured in the past she doesn’t write from the US, she lives across the ocean in England.
International Finances
Differing points of view are why I enjoy the personal finance blogging community so much; for example, here she suggests a few things that Obama could learn from Britain.
It’s interesting to read about how different countries handle financial issues differently, such as British taxes vs US taxes and her comparison of expenses in the US and England.
Who is Plonkee?
From her about page, Plonkee is a young, single woman in her twenties who is a homeowner and has a day job she enjoys. She’s passionate about music, blogging, and being English : )
Plonkee’s blogging style takes a common sense approach to personal finance and she is a great story teller. If you’d like to read more from Plonkee you can subscribe to her feed or follow her on Twitter.
Some Highlights at Plonkee Money
- Realizing your dreams in your middle age
- The First Financial Piece of Advice She Received
- Answering the proverbial question, “What should I do with the rest of my life?”
Money Articles
Here are some money articles I enjoyed from around the web this week, hope you find some of them valuable.
I’ll start off with a valuable article from Erica Douglass that can save you time, money, and tears.
“if you can’t afford to lose what’s on your computer, back it up yourself and check regularly to make sure you can restore files”
Trent from the Simple Dollar has a step-by-step guide to getting your credt card interest rates reduced.
Money Writers
-The Digerati Life explains how she organizes her tax documents
-Gen X Finance shows explains how to invest in yourself
-Lazy Man asks us if we are willing to sacrifice the little things to retire early.
-Brip Blap tells a story about helping others and giving without the expectation of getting something back.
-My Dollar Plan outlines personal finance from A to Z
-Million Dollar Journey explains the Great Homeowner Bailout
-Frugal Dad shows us how to simplify our personal finances
-The Sun’s Financial Diary questions if the stock market is similar to a political tracking poll, as suggested by our president.
Money Blog Network
-No Credit Needed guides us through feeling overwhelmed to feeling in control of our money.
-Free Money Finances has a comprehensive review of Tax Cut 2009
-Mighty Bargain Hunter find a mighty bargain on restaurant.com gift cards.
Money Scribes
-Consumerism Commentary has a great introduction to traditional vs. ROTH IRA’s.
-Five Cent Nickel has five tips for dealing with job loss.
-Blueprint for Financial Prosperity warns us to watch out for stimulus check scams
-Get Rich Slowly gives a compelling argument about why you shouldn’t keep a mortgage just for the tax deduction. It’s great to know that SOME people think like me!
Carnivals
- Money Hacks Carnival
- Investing Carnival
- Carnival of Twenty Something Finances
- Carnival of Personal Finance
- Carnival of Debt Reduction
Best Travel Rewards Credit Cards on Spring Break
The best travel rewards credit cards for a spring break trip depends on a variety of factors such as how you’re travelling, where you’ll be staying, and how much you plan to spend on your credit card. I had a reader email me after the recent post on spring break money savers and ask which travel rewards credit card I recommended for their upcoming vacation to Florida.
Airline Credit Cards
If you’ll be flying to your destination and you do a lot of flying in general then an airline card, such as Blue Sky from American Express, may be a good choice. Amex Blue Sky is a good option since the card has no annual fee, no purchase limitations on where you can earn travel points, and no blackout dates or travel restrictions.
Gas Rewards Cards
If you’ll be making a big road trip then gas rewards cards can help you earn some rewards for all the miles you’re driving. Alot of gas rewards cards don’t offer the best rewards on purchases other than fuel so it’s typically best to use these cards simply for gassing up.
Hotel Rewards Cards
If you always stay at the same hotel chain when you travel then a hotel rewards card can save you some money. Often times these cards not only earn your rewards points but can also give you a discount when you reserve a room. Cards like the Marriott rewards card earn you points for staying at any hotel in the Marriott “family” and others such as the Starwood Preferred Guest credit card earn points for hotel chains like Westin or Sheraton.
Student Rewards Cards
One of the top student credit card mistakes is opening a card simply for free stuff, this happens a lot on spring break. While it’s not smart to open a credit card for a free T-shirt, if you’re responsible with your money and are looking for a student rewards card before you go to help you earn some points on your trip the Discover credit card is a good option with a nice cash back rate and cash back bonuses. Just be sure to pay off your balance in full each month so you don’t get into credit card debt.
Cash Back Cards
If you don’t want to mess with a separate airline, hotel, and gas rewards card you can always just get one of the best cash back cards and use it for all of your travel expenses. We use the American Express Blue Cash card and earn hundreds of dollars in cash back with it each year.
Travel Savings
Sometimes you can get a deal on a hotel room or an airline ticket simply by using your Visa or American Express card to book your trip, look for ads that say something like “Save $50 when you use American Express”. In these cases the hotel or airline has worked out a promotional deal and you’ll get money knocked off your bill when you use the specified card. If you combine credit card rewards program with some of the spring break money tips you may be able to vacation a little cheaper this spring break.
Save Money by Not Flushing the Toilet?
Do you try and save money by flushing less often? I was visiting with a former co-worker yesterday about our pregnant wives, both due here in a few months, and he told me about a little argument they were having.
He’s feeling quite strapped for cash with all the baby expenses they’ve had and will have once the little one arrives. So he’s looking for any way he can to save money and he came up with an idea that’s gotten him into a lot of trouble.
Here’s the background. As all women who’ve been pregnant know, the farther along you get in the pregnancy, the more frequently you have to use the bathroom. His wife is now getting up sometimes as many as 8–9 times in the middle of the night to go to the bathroom and he thought they could save some money on their water bill by asking her to wait until the morning to flush, instead of on each trip.
His request didn’t go over so well and now they’re arguing about how often she should flush the toilet. She’s so mad at him that she’s actually flushing the toilet even more often now just to get under his skin : ) I told him he should have never brought something like that up with a pregnant women but he still thinks it’s a good idea. What do you think?
Spring Break Vacation Money Savers
Spring break vacations are always something to look forward to after the long dark winter months. Spring break for college students is already beginning, and spring break for public secondary and elementary schools will begin in the next few weeks.
When I was a college student in Florida, we took full advantage of the beaches we lived near all throughout our spring break. The best months to visit Florida are February, March, April, and May, because our spring feels like the north’s early summer and early fall weather. Of course, being in college we were always looking for the best deals to save money on spring break.
I imagine most people that can afford to go on vacation this year will be looking for spring break deals and money savers in this struggling economy so here are a few tips on ways you can save money on your spring break vacation:
Student Travel Websites
Here are some good travel websites to check out for deals if you are a college student
My wife and I used STA Travel a few times to look for discounted airfares for students. We got a great rate from Florida to Los Angeles, and we also found good deals on hotels. You can also check out some of the best travel websites.
Hotel Room Without an Ocean Front View
If you’re at the beach, you’ll save a lot of money by choosing the room that faces the courtyard or the pool. Why bother getting the best room available when you’re only in your room to sleep anyway? Also, try looking for a hotel that was recently renovated or brand new to the area. They often cut deals to boost sales.
Hotel Room With a Kitchenette
Okay, I know that I just told you to save money by going for the cheaper hotel room, but hear me out on this one. One of the biggest expenses when you travel, other than your transportation to get there and back, is food and drink. One of the best ways to save on eating out and drinking is to bring your own snacks and booze. Bring food for breakfast and lunch, and save your money for a nice dinner every night.
Avoid Popular Vacation Spots
I am always amazed that Destin and Daytona Beach are the most popular spring break destinations in Florida. They have good beaches, but there are so many other great places you can visit in Florida without getting bombarded and ripped off by tourist traps.
Clearwater beach near Tampa, FL and St. Augustine Beach are great options with plenty of stuff to do during the day and at night. St. Augustine is touristy, but it’s definitely cheaper than Daytona and Destin. What are some other great spring break destinations that aren’t tourist traps?
Travel During The Week
If you leave on a Monday and return on a Friday, you could save some money on airfare and hotel stay. Businesses know that their biggest business is on the weekends, so they’ll discount their weekday rates to attract more vacationers.
Use common sense and look for bargains wherever you can, because we all know that the economy is bad right now and we’re all looking for ways to make our dollars go farther. Don’t be afraid to ask for discounts and most of all, make sure you stay safe!
TaxCut Premium Tax Software Giveaway
If you still haven’t prepared your federal or state tax return for 2008 then you may be interested in this giveaway. The people at H&R Block sent me a copy of TaxCut Premium Federal edition, which includes a federal e-file and one state program download.
I launched a personal finance software giveaway for Mac users the other day and I didn’t want fellow PC users to feel left out, so this one is for readers that own a PC. TaxCut Premium will actually run on a Windows PC or a Mac but I’ll probably weed out any Mac users with this question.
H&R Block TaxCut Premium Giveaway
To enter, simply leave a comment below describing why it is you’ll never own a Mac. For example, I’m so used to the keyboard shortcuts on a PC, when I try and use a Mac I feel like a fish out of water.
To learn more about the TaxCut Premium software, visit our post on the best tax software, this version retails for $49.95 so thanks to H&R Block for sending over a free copy!
Rules
To enter, leave a comment below describing why it is you’ll never own a Mac. The contest will end on Friday, 3/13 and one commentor will be chosen at random as the winner. I’ll notify the winner via email and ask for a shipping address so I can mail out the tax software. Good luck!
Personal Finance Software Giveaway for Mac Users
Mac vs PC
Are you a Mac fanactic or a PC devotee? Personally, I use a PC, I’ve never owned a Mac. So when the people from IGG Software contacted me and asked if I’d like a free copy of their iBank personal finance software for the Mac I almost said no thanks. Then I realized that in the wide PC vs Mac world there were sure to be some readers that use a Mac.
iBank Personal Finance Software
The makers of iBank have agreed to sponsor a software giveaway contest, to enter simply leave your top 3 reasons why a Mac is better than a PC in the comments below. One winner will be chosen at random and IGG Software will send you instructions and a coupon code so that you can download and install iBank software for free!
After the winner’s had a chance to try out the software, they can send me an email about their experience. Of course, this isn’t required, it would simply be nice feedback that I can pass on and let other Mac users know your thoughts on the software.
PC users, don’t feel left out. Tomorrow I’ll announce a software giveaway for you as well : )
Contest Rules
Again, to enter, simply give your top 3 reasons why a Mac is better than a PC in the comments below. The contest will end on Friday, 3/13 and one commentor will be chosen at random and notified that weekend. I’ll pass the winner’s email address onto IGG Software and they’ll send you info on how to get your iBank coupon code for a free copy of the software. So Mac fans, here’s your chance to let us know why you think your computer is better than ours, Good luck!
Credit Card Identity Theft In Action (Maybe)
Credit card fraud isn’t a new experience for me, I’ve had people steal my credit card number and spend hundreds of dollars on it before. Cleaning up the mess was a major pain, which is why I groaned when I recently received the letter below from Bank of America’s Global Consumer Fraud Prevention department:
“We have learned that some credit card information for your Bank of America account may have been compromised at a third party location. Your credit card number may have been part of this occurrence. At Bank of America, we take your privacy very seriously. To ensure your privacy is protected to the best of our ability, Bank of America has taken the following steps:
– We have reviewed your credit card account activity and see no evidence that your account has been misused in any way. We will continue to monitor activity on your Bank of America account, and if we detect suspicious transactions, we will notify you.
– As a measure of added security, we will close your current account and issue you a new account number and credit card(s). They will arrive in a separate mailing in approximately 5 – 7 business days. You many continue to use your existing card until your new card arrives.”
Then they go on to advise me to review my monthly statements and online banking account for unauthorized transactions, destroy my old card, and change my credit card information for any bills I autopay with it. Luckily, I only use this card as one of my backups when a merchant doesn’t accept my American Express Blue Cash card so I don’t have any recurring payments that I need to change.
Obviously Bank of America knows it could potentially be a major pain for some customers and they go on to acknowledge this and apologize:
“We understand that some of these steps may pose an inconvenience to you. We apologize and are doing everything we can to minimize it. Please know that Bank of America seeks to keep your financial information secure. As a valued credit card customer, you are protected by Total Security Protection* including Fraud Monitoring, Zero Liability, Online Protection, Guaranteed Credit*, and our Privacy Policy.
Again we apologize for any inconvenience this situation may have caused you. If you have any questions, please call 1-800-xxx-xxxx. We are at your service 24 hours a day, seven days a week.”
I like the fact that they’re alerting me to the potential issue and are apologizing for the trouble it may cause but I would like to know more detail, such as when it happened and what information may have been compromised. I’d also like to know what compromised means. Was it simply that someone left my account information sitting out on their desk for anyone to see for a week, or that someone hacked into a computer system and stole my name, address, and credit card account number?
They do end the letter with a nod to identify theft protection:
“P.S. For important information on how to protect your identity, please visit us at bankofamerica.com”
I checked out their main page and found a link entitled “monitor and manage your credit” under the Privacy and Security section that contained information on their Privacy Assist and Privacy Assist Premier products.
- Unlimited online access to the information the 3 leading credit reporting agencies—Equifax Inc.®, Experian® and TransunionSM—are reporting about you.
- Your credit files will be monitored each business day. You’ll be sent a notification within 2 business days when new accounts are opened, inquiries are made, or address changes occur so you can take action if needed.
- Experience Internet Surveillance – a powerful online feature that monitors your personal information on the Internet
Their Privacy Assist products sound pretty useful but they do have a monthly fee for the service. I don’t have anything against paying for credit card and identity monitoring in general but in this case, since it was Bank of America’s partner that potentially compromised my data (whatever that entails) it would be nice if Bank of America would give me one year of their service at no charge.
So what do you think? Should I take the time to follow up with Bank of America and see if they’ll grant me access to their credit and identity monitoring service? Do you think if I call in they’ll provide me with more information on what actually happened to “compromise” my information and the extent of the issue?
Best of Money Smart Life 2009 – Your Career, Taxes, Insurance, and the Economy
We’re two months into 2009 so far, how has your year been going? It’s always good to take time to look back on where you’ve been and what you’ve accomplished so I’m reviewing the best of Money Smart Life so far this year.
Good Conversation
It’s always fun (and sometimes educational) to have posts that stimulate good conversations, a recent one that generated some debate was the first in my Financial Confessions series, I’m a Bad Tipper. Even my mom chimed in on this one 🙂 Another one that hit a nerve had to do with the cost of Valentines Day flowers and whether they are a rip-off.
Insurance, Career, and Taxes
We’ve run three series of posts this year on the topics of insurance and taxes, your favorite things right? We also took a look at some career tips for bad economic times, thanks to MSN Smart Spending for featuring the post Tips for your Boss During a Recession (authored by my sister). Yesterday I wrote a summary of each series so far this year:
Economy
Of course the economy is the elephant in the room, it’s captured the attention of most of the country for a while now. A while back, we asked whether there would be a second stimulus check in 2009 and also how the stimulus money should be spent. With so much money flying around Washington, it’s hard to know what exactly how the bills effect us taxpayers individually so I wrote about the economic stimulus package and what it means to you.
Credit is still tight and many people are having a hard time getting money when they go to get a loan. One thing people are turning to is borrowing money from friends and family, here are some things to consider if you’re thinking of lending money to friends or family.
The government is trying to get cash flowing again with the Term Asset-Backed Securities Loan Facility (TALF), which will make money available to businesses and institusions. Of course we can’t access that money but one other option for you and I is to tap into the new peer lending companies. Prosper is still out of commission for a while but here is a Lending Club review that details how to borrow money at Lending Club and another one on using Lending Club as a debt consolidation option.
That’s it for the best-of review. Stay tuned for more money tips to come!
Tax Software & Tax Forms for Your Tax Return
Tax software is flying off the shelves these days as people starting preparing their 2008 tax returns and discovering how much money they owe or might get back. I got a good visual of this when I was at the post office last weekend and met a guy who sells Turbo Tax and Tax Cut on eBay, he was mailing out 70 boxes of Turbo Tax software just that day!
To help you prepare for tax season, we put together some tax posts back in January, one of which was a list of common tax forms you’ll need to have to do your taxes. You should have already received all or most of them in the mail, make sure you keep them together so you have easy acccess to them when you sit down to prepare your tax return.
One big question people ask is what type of tax deductions tax credits they qualify for so we took a look at some common tax credits and also the federal tax brackets and how they affect what you owe.
In terms of filing your taxes, we covered how some people can file taxes for free using free eFile. We also had an article on tax preparation services like H&R Block and Liberty Tax and whether they’re right for you.
If you’ll be preparing your taxes yourself, we had a review of some of the best tax software and also included a Turbo Tax review.
Hopefully you find some good tax tips in this collection of articles, good luck doing your taxes!
Career Tips for a Bad Economy
Company layoffs at big corporations like Ford, Dell, and IBM are making the news these days but as many of you are aware the bad economy is affecting companies both big and small. With so much stress building around the country over the fear of losing jobs we decided to take a look at some career moves you can make to help prepare for a potential job loss and find a job if you are laid off.
The first thing we talked about was how building your personal brand can make it easier to get a job.
“The goal of personal branding is to communicate your experience and build trust in your abilities and expertise so that when a hiring manager has to make a decision of which candidate to choose, you’re the obvious choice”
We followed up by reviewing some of the technologies available to help you build an online resume and find job referrals based on your expertise.
There are times when your current job or industry isn’t the best place for you to be working so the next topic talked about how you can get a degree or get additional education such as certifications or licenses to make you more competitive in the job search.
When you’re in between jobs and still need to make money, you can always try out a freelance job, we cover places you can go to find freelancing work. Last but not least, check out this post on how to prepare for a layoff financially.
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I'm Ben Edwards and I've been addicted to personal finance since I was 12 years old.
That passion for money has paid off for my family - so in 2006 I founded Money Smart Life to help you afford the life that you want. Read My Story...
