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Personal Finance

Construction Revolutionized My Finances

by Luke Landes
Construction Bulldozer

This is a guest article by Jon the Saver, a personal finance blogger at Free Money Wisdom. His mission is to spread financial wisdom and help people get their financial lives under control. In his down time he loves a mean game of Scrabble and spending quality time with his fiancee. I’m probably the only ... Continue reading this article…

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The Financial Planner Who Lost His House

by Luke Landes
Great Expectations - Carl Richards - Behavior Gap

Carl Richards is one of today’s best writers focusing on personal finance. Originally keeping a great blog at behaviorgap.com, The Behavior Gap has moved to the New York Times, and early next year, Carl will release his first book. Look for The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money on January ... Continue reading this article…

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Set Up Beneficiaries for All Your Accounts

by Luke Landes

While anyone moves towards financial independence, there is a time to think about what would happen to one’s financial accounts if one were to most unfortunately pass away. It’s a morbid thought, no doubt, and it’s easily avoidable in a world where talking about death is difficult. I don’t like to contemplate my own mortality, ... Continue reading this article…

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Involving Children in Household Money Management

by Luke Landes
http://farm6.static.flickr.com/5259/5437895492_b0e84aaf2b_b.jpg

At the right age, involving children in the household financial planning process can be a good way to teach responsible money management. Children internalize best practices when they not only receive meaningful instruction, but have visible, positive role models as parents. If parents want to impart a lesson of “buy only what you can afford,” ... Continue reading this article…

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Financial Tips for Students Entering College

by Luke Landes

Seventeen years ago I was nervous about what was about to transpire. At this time, although I had been away from home for extended periods of time, I was about to leave for college. Honestly, I thought I might not have been able to handle the responsibilities and the new social environment. Rather than living ... Continue reading this article…

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Net Worth Competition: Don’t Compare Yourself With Others

by Luke Landes
Calculator

One of the most important metrics for tracking financial progress is net worth. I write about my net worth, or a modified form of it, every month when I report my balances. I’ve been in the practice of publishing my net worth updates for eight years. By watching my net worth change over time — ... Continue reading this article…

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Ignoring Bills Won’t Make Them Disappear

by Luke Landes
Toyota Celica

This is one of my biggest financial mistakes. My failure to learn some basic skills and my willful ignorance of the trouble I was in cost me thousands of dollars and major inconveniences. When I was younger, I didn’t have that much of a positive track record with cars. In high school after receiving my ... Continue reading this article…

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Save Money While in College

by Luke Landes
Princeton University

Higher education has its benefits, both financial and not. A bachelor’s degree helps ensure lifetime earnings will be greater than someone with just a high school diploma. Aside from the financial benefit, the cognitive skills used in tackling tough academics are useful inside and outside of a career. Nevertheless, college students often start careers at ... Continue reading this article…

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Don’t Live Within Your Means

by Luke Landes

For as long as I’ve been reading about smart money management, “live within your means” has been the underlying mantra that, when uttered repeatedly and internalized, will result in a much more fulfilling life overall. By living below your means, you are sure to come out the end of each month with a net worth ... Continue reading this article…

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Financial Tips for College Graduates

by Luke Landes
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College graduation like when you beat Ganon, the resilient bad guy at the end of the classic video game, The Legend of Zelda, for the first time. You’ve been through many levels of challenges, perhaps even used a few “cheats” along the way, and did anything necessary to grow your knowledge and skills, many of ... Continue reading this article…

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How to Financially Succeed as a Couple

by Elle

This is a guest article by Elle, the author of the blog Couple Money. Handling personal finances can be an intriguing, challenging, and rewarding process. Being married and handling finances can double those effects. My husband and I have learned through the years that working together can be powerfully effective and motivating. While every couple ... Continue reading this article…

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The Zombies Are Here and They’re Hungry… For Your Personal Finances

by Jeremy Simon

This is a guest article by Jeremy M. Simon, a reporter and columnist for CreditCards.com. He is a blogger at Taking Charge. They’re lumbering toward you, their eyes dead and arms outstretched. And they’re hungry. No, personal finance readers, I’m not talking about debt collectors: I’m talking about zombies, which over the past several years ... Continue reading this article…

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Elmo Teaches Kids About Saving Money

by Luke Landes

I have many things in common with my friends in the same age range as myself. Among these shared experiences that define a generation, for the most part, we all watched Sesame Street as children. When we reminisce, we remember Mr. Hooper. We remember when Big Bird was the only character to be able to ... Continue reading this article…

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Call For Guest Articles, the Personal in Personal Finance, and the Lottery

by Luke Landes

Later this month, I will be traveling to southern California to visit my family. I usually travel to the west coast for vacation twice a year, once in the spring and once around Thanksgiving. During this time, I’ll still be working, but I often use this as an opportunity to feature a select number of ... Continue reading this article…

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Lending Money to Friends and Family

by Luke Landes

I try to keep the issue of money out of my personal relationships. Many people I know outside of those I know only online — my friends and family — read Consumerism Commentary. For the most part, they’re not interested because, I assume, they’d rather keep the issue of money out of our friendships — ... Continue reading this article…

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3 Aspects of Your Finances You Can Control

by Luke Landes
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Some things are beyond our control, and having a happy and fulfilling life requires accepting those things we cannot change. It’s possible, however, to control more than we believe we can. Right before I first started on my journey of getting my life and finances in shape, I left a low-paying job that depleted my ... Continue reading this article…

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Start the Decade Off Right

by Luke Landes

It’s a new decade. These are the tens, and this could well be the best decade of my life. How about you? Whether you’re reading this in 2010, 2020, or some other year, it’s time to make some conscious changes to your finances to move your life forward. Time won’t stop to wait for you, ... Continue reading this article…

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What Is Financial Independence?

by Luke Landes

When asked about what it means to be financially independent, most people think about retirement and the amount of money needed in the bank and investments in order to be worry-free for the remainder of their lives. For many, this is why we work, why we suffer through a job we may not enjoy. The ... Continue reading this article…

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Mint Data: More Than You Care to Know About Other People’s Spending Habits

by Luke Landes
mint[1]

The trend of financial over-sharing continues, and I’m glad to have been on the leading edge. I’ve been sharing the details of my finances, including spending habits, since I created Consumerism Commentary in 2003. The idea of social net worth continued with sites like NetWorthIQ, which allowed the public to post family net worth and ... Continue reading this article…

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Kiplinger’s New Money Rules Sound Familiar

by Luke Landes

In the September issue of Kiplinger’s Personal Finance magazine, the editors shared twelve “new rules” for your money, although most of them do not sound new at all. Fundamentals don’t change, but the general consensus point of view does. If there is anything new here, it’s that the a downturn in the economy has forced ... Continue reading this article…

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