As featured in The Wall Street Journal, Money Magazine, and more!

Wallet of Plastic

by Luke Landes

It’s widely believed that the more credit cards you have, the better your credit rating. MSN Money, with the help of some experts, debunks that common misconception and recommenhds having two to six credit cards, and using them wisely: Keep your debt ratio low. Don’t carry a balance higher than 30 percent of the credit limit. ... Continue reading this article…

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News Corp Buys The Internet

by Luke Landes

Actually, News Corporation is buying one website, but it’s the “fifth most widely viewed domain.” The corporation is purchasing MySpace for $580 million. Out of all of the social and business networking websites, MySpace is probably the ugliest and worst programmed. It’s easy to hack and the templates kids choose for their profiles are horrendous. ... Continue reading this article…

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Carnival of Personal Finance #5

by Luke Landes

The Carnival of Personal Finance #5 is up. Free Money Finance will be hosting next Monday’s Carnival, so submit your articles for consideration early and often! I have a hunch that this will be the biggest Carnival of Personal Finance to date.

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Spend Less In Retirement?

by Luke Landes

Here’s an interesting contrarian point of view, and one with which financial planners will surely disagree: You may be saving too much for retirement. According to the Department of Labor [survey results here], as age increases, spending decreases in all categories other than health care. However, the facts won’t get in the way of financial ... Continue reading this article…

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Welcome

by Luke Landes

Welcome to all new readers coming from the Wall Street Journal Sunday Edition. [Alternative link to article.] You may be interested in an introduction to this website or a list of what may be the best of Consumerism Commentary. My latest balance sheet and expense report is here and you can browse entries by category ... Continue reading this article…

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NetWorthIQ

by Luke Landes

There’s a new web tool in beta called NetWorthIQ. Its purpose is to allow people (anonymously, if they wish) to share their net worth and track their finances month after month, similar to the way I do at Consumerism Commentary. NetWorthIQ has potential. I signed up and entered my net worth in less than two ... Continue reading this article…

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Quick Carnival Reminder

by Luke Landes

Here’s a quick reminder: send a recent personal finance blog entry (or article, or essay, or post) to Carnival of Personal Finance #5 at the blog I Will Teach You To Be Rich by Monday.

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Money Clubs?

by Luke Landes

Marshall Loeb mentions the popularity of money clubs, akin to the investment clubs of the 1990s. Much like other sorts of support groups, money clubs offer the unique opportunity of belonging to a group of people with similar desires, who can encourage, inform and brow-beat you as needed. (This sounds very much like the community ... Continue reading this article…

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Property Taxes

by Luke Landes

I am not a homeowner right now for many reasons. Here’s another reason to add to the list: sky-high property tax. Yes, I pay some property tax now, hidden within my rent bill. Landlords pass the cost of taxes onto tenants. Because of the high cost of buying and owning a home, finding money for ... Continue reading this article…

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These Rules Don’t Work

by Luke Landes

I like this article from MarketWatch that presents five investing rules that don’t work. You may have heard these investing clichés before, but clichés come a dime a dozen: Subtract your age from 100 to determine the percentage of your investment that should be in stocks. This would present an overly conservative portfolio for most ... Continue reading this article…

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