personal finance

Defending debt: Why it’s sometimes good

newsandexperts.com
June 21st, 2012

(Editor's note: SDGLN contributors are entitled to their opinions; they do not necessary reflect the views of SDGLN.)

When it comes to the best ways to use money, too many Americans operate under a key misconception, investment adviser and financial planner Ike Ikokwu says.

“Money is opportunity, and having a blind spot for maximizing investment can drastically reduce one’s future options,” said Ikokwu, author of Winning The Money Game: Separating The Myths From The Truth.

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Big Assets: Apps that save you cash

Steve Doster, CFP® - Certified Financial Planner™ professional
May 8th, 2012

Articles on money apps always mention Mint.com. It is a great app for those that are diligent about their finances.

The problem is that most of you are not! You need instant rewards when you do a good money deed. So I have chosen three great apps that save cash while shopping (something all of you do too well).

My favorite money-saving app is Barcode Scanner. All you do is open the app and point the camera at a product barcode. A list of nearby stores and their price pops up for that product. You instantly see if you’re getting a fair price or can buy it cheaper at another store.

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Big Assets: An easy way to increase your take-home pay

Steve Doster, CFP® - Certified Financial Planner™ professional
April 2nd, 2012

It’s pretty common for someone to ask: “How can I make more money?”

The question is usually asked in a sarcastic tone, so my response is usually: “Legally or illegally?”

Of course, there is no quick way to make more money. However, there is an extremely easy way to increase your take-home pay and you can do this right now. Just decrease how much tax is withheld from your paycheck.

We’re in the middle of tax season. Most of you will be getting a tax refund. I know this because 75% of the tax returns filed for 2010 received a refund. And the average refund was almost $3,000!

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Big Assets: The gay way to budget

Steve Doster, CFP® - Certified Financial Planner™ professional
February 17th, 2012

You’ve seen the straight way to budgeting. Make a spreadsheet with about 100 spending categories, allocate a specific amount for each item, and then track every dollar you spend by diligently placing each expense in the appropriate category. Boring!

Money conversations with your partner, or even yourself, may begin like this: “How much was the bill at that restaurant last week? What did we spend in Palm Springs last weekend and does that go in the “entertainment” or “travel” category ?”

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Big Assets: Couples, don’t break the bank on gift-giving

Steve Doster, CFP® - Certified Financial Planner™ professional
December 7th, 2011

Thank goodness I’m going to make it through another holiday season as a single guy. That's an extra $100 in my pocket not spent on some dispensable gift for a special someone.

OK, I’m not really a big, old Grinch. Of course it would be great to give my TBD boyfriend a gift. Studies have even shown that a gift-giver gets a turbo boost of psychological good stuff. Who doesn’t want that?

But some couples take it too far. They openly admit there is no budget when it comes to gifts for each other.

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Big Assets: The easy and simple way to save money

Steve Doster, CFP® - Certified Financial Planner
June 16th, 2011

Almost 50% of Americans cannot come up with $2,000 for an unexpected expense, even if they have 30 days to get the money. That’s pretty scary.

Consider all the different ways you may need to come up with cash quickly: a fender-bender that requires a $1,000 deductible, 20% co-payment for a broken arm, or a large towing expense (as many Hillcrest club-goers recently discovered).