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

Letting Terror Affect Your Investment Strategy

by Luke Landes

When terror strikes, it’s easy to think about September 11 and the poor performance of the stock market following the event. It may be better to wait this one out before running for the hills and cashing out. It’s better not to make hasty decisions based on world events. CNN Money offers that same advice. ... Continue reading this article…

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The $5 Timing Error

by Luke Landes

I didn’t time a transfer correctly and it cost me five dollars. Thinking a couple of checks wouldn’t be withdrawn from my Wachovia checking account until today, I scheduled a transfer in from an ING Direct savings account for yesterday to cover the funds. It looks like the checks withdrew yesterday but the deposit didn’t ... Continue reading this article…

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Can’t Buy Me Happiness

by Luke Landes

Here is some common sense from Jeanne Sahadi: If financial success is important to you, and you are not as successful as those around you, you are not going to be as happy as someone who doesn’t care as much about financial success. In fact, setting financial success as a goal can make some people ... Continue reading this article…

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Free Prizes May Not Be Worth It

by Luke Landes

In some cases, it might be better to decline contest winnings [free WSJ article] than to accept the prize. The income tax due on winnings might be more than what it would cost to buy the prize outside of the contest. In the article, a man declines free American Airlines flights.

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Account Balances and Income vs. Expenses, June 2005

by Luke Landes

If you continue reading this entry, you’ll find my account balances for the end of June, 2005. Some notes: * I have been on a month-to-month lease, which costs me $300 extra each month! I paid for a little more than two months of that fee this month and I haven’t bothered to accrue. That ... Continue reading this article…

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Another Week, Another Carnival

by Luke Landes

Carnival of Personal Finance #3 is online at AllThingsFinancial. Some interesting posts to highlight: Alphabet Soup, a guide to the different professional designations in finance. Nickel warns people to think before writing a check in a world where there is a hot black market for personal banking information. On AllThingsFinancial, JLP teacher us how to ... Continue reading this article…

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In Pursuit of Financial Freedom

by Luke Landes

For those of us in the United States, Independence Day is coming up. Coincidentally, Consumerism Commentary began two years ago this month. This website is also concerned with independence — financial independence. Writing here forces me to take a look at my finances. I had to take a look at the many mistakes I made ... Continue reading this article…

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That Time Of Year

by Luke Landes

It’s gotten a little bland around here, I know. I’ve been working my ass off at work, and just about every other moment of my life is spent working on some random project, researching or writing papers for school, or spending time with my lady. I don’t get much sleep. I’m on the board of ... Continue reading this article…

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Moving On Up

by Luke Landes

This just in: The Fed has raised rates another quarter point to 3.25 percent. The effect will ripple through the economy, which is good news for banks. I’m looking forward to some of the banks, such as ING Direct and Emigrant Direct (where I hold my savings) raising their rates as well.

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The Urge to Merge

by Luke Landes

According to the New York Times, Bank of America is buying MBNA. This is another reason why consumers should avoid carrying a balance on credit cards if they are being charged interest. As more credit issuers merge, there will be less competition. With less competition, annual fees and interest rates will rise. Update: CNN answers ... Continue reading this article…

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