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100 Best Money Moves You Can Make Now

This article was written by in Personal Finance. 34 comments.


The latest issue of Money Magazine shares a list of one hundred tips for dealing with your money, from investing in stocks and locating a deal on a house to maintaining sanity on flights and feeling superior to Nicholas Cage. Ignoring the investment-related ideas for the moment, there are a number of good suggestions.

Here are some of the more interesting bits I am taking away from the feature.

The editors of Money Magazine chose Ally Bank as the best savings account. Here are my choices, always updated. Ally offers competitive interest rates. I have an account and have not yet had any problems, but it’s worthwhile to read customer reviews of Ally Bank submitted in the comments.

I buy generic and store brands for certain products. Like me, Money Magazine suggests saving a significant percentage by buying store brand versions of over-the-counter pain relievers, clothes, and batteries. Money Magazine also suggests buying store brand televisions, but I’ve seen major quality differences. Perhaps I’m too picky in this one area.

Based on the price-to-rent ratio, Honolulu is the best place to rent right now. Other cities round out the top five: San Francisco; Bridgeport, Connecticut; Portland, Oregon; and Seattle.

Also in real estate, the magazine offers three tips for negotiating lower Realtor commissions while selling your house. Don’t blindly accept six percent. Ask for five percent, offer to work with the agent in the future if he or she offers you a break now, or imply you’re ready to sell your house on your own.

In Money Magazine’s suggestions for teaching children how to manage credit>, they did not mention the best lesson possible: avoid credit whenever possible. But the “abstinence-only” is hardly a full education; we must recognize that kids will eventually “do it” with credit cards and should know how to use them safely and avoid bringing interest fees into this world.

Eliminate cable television and replace it with PlayOn for $40 (plus the cost of a device you may or may not already own). Replace your landline telephone service with Vonage. I’m doing fine without a landline or voice over IP. My cell phone handles all my calls, but as a single guy, I have no need for a “family” contact number.

Several of the 100 tips are reserved for the list of the best locations for retirement for those who don’t like paying taxes. Here are the cities at the top of the list: Lewes, Delaware; Fairhope, Alaska; Sioux Falls, South Dakota; Austin, Texas; and Henderson, Nevada. I’m surprised that the editors did not consider retiring abroad.

Three tips are dedicated to helping you negotiate a raise. Unfortunately, these tactics won’t be applicable to everyone. If you are able to quantify cost savings, if you are carrying the work load of two people, or you are getting offers from other companies, you have some leverage.

The editors of Money Magazine want you to buy a Chevrolet Camaro SS V8 if you want to have fun while driving. My Honda Civic is approaching 120,000 miles and I’m starting to plan for having a more exciting ride a few years down the road.

Want to get customer satisfaction? Threaten to create a song about your bad experience and upload it to Youtube. A bad reputation can grow like a virus.

Read Money Magazine’s 100 tips for the best money moves here.

Updated October 19, 2011 and originally published April 19, 2010. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

{ 7 comments… read them below or add one }

avatar Financial Samurai

I see you buying a 2008 BMW 335i coupe in a couple years Flexo to replace your Civic! I had a flashforward. I also saw you buying a Lexus.

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avatar Investor Junkie

The Hyundai Genesis Coupe is pretty hot too and not a bad price either. I’m loving the Genesis Sedan and think it’s a great value for the money.

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avatar Luke Landes ♦127,380 (Platinum)

A Lexus AND a BMW! I hope I can live up to your expectations! As it happens, I am considering a convertible… or not.

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avatar Ian

I’ll definitely second the PlayOn suggestion. I’ve been using it for about a year now (saving ~$1,200 in cable bills, I recon) and couldn’t be happier. The one thing people should keep in mind is that there’s no formal agreement between Hulu and PlayOn, and Hulu’s sponsors do NOT like services like PlayOn or Boxee. They want to keep Hulu on the computer and keep people paying the big bucks to watch the same shows on their TVs. All that being said, there have only been 2 or 3 occations where I couldn’t use PlayOn for Hulu, and they’ve always gotten it back and running within a day or two. The development team at PlayOn has some great ideas and they’ve made huge strides. You can now use it to stream media from your computer (or NAS box) to your TV, and they recently got Pandora working through PlayOn as well. It seems they have updates available to download at least once or twice a month. I’d say it’s definitely $40 well spent.

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avatar Stefanie

In terms of the best places to rent, you really need to look at the overall economic picture of those areas. I live in Portland, OR and yes there are tons of places for rent here right now (and for sale!), but the job market is absolutely terrible here. I know its bad all over the States, but it is truly utterly terrible here. So sure, you can come find a place to rent or buy here, but only if you already have a job that you know is stable here.

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avatar Chris@BeDebtFreeAmerica

Flexo – How about dumping the Cable/Television altogether and writing a blog instead? Think of all the extra hours one could recoup.

Speaking of phones, I just signed up for a Google phone number. It comes with a bunch of nice features, the best being free long distance. Sweet!

Stefanie – I’m just across the river from you in the ‘Couve. I hear your pain.

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avatar Luke Landes ♦127,380 (Platinum)

Well, yes, replacing television with writing might be a better use of time and save some money, but I think the point is how to replace an expensive choice with a less expensive but similar choice. You could replace drinking soda with needlepoint, too.

Google phone numbers are great!

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