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Where Does My Money Go?

by Flexo

Eric asked me where I can cut back my expenses. I was actually working on this issue as he was posting this question. (It’s been a slow morning at work.) The chart below shows where my money from each paycheck is going and underneath there are some comments.

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This Month’s Bottom Line

by Flexo

Here are some of the things affecting my personal bottom line this month: * Income: I worked a smaller-than-average amount of overtime this month, so there won’t be much to talk about. The equivalent of my overtime pay before taxes is transferred to my Emigrant Direct savings account. * More income: I did some freelance ... Continue reading this article…

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Being Last is Best

by Flexo

According to a CNN story and a AAA report, New Jersey is the last state whose average price for a gallon of gasoline has surpassed $2.00. Still, New Jersey remains at the bottom of the list thanks to local refineries, ports and low taxes. Luckilly, there are two low cost gas stations on my route ... Continue reading this article…

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Should You Borrow From Your 401(k)?

by Flexo

Borrowing from your 401(k) is generally a bad idea. There are some positive aspects of doing so, however. It’s a nice option to have if you are stuck with no other choices. Here are some of the drawbacks, as mentioned by Lewis Schiff from the Armchair Millionaire. The money you take out of your 401(k) ... Continue reading this article…

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Suze Orman: Young, Fabulous and Decidedly Not Broke

by Flexo

Suze Orman is appearing on PBS right now on her fifth special, Young, Fabulous, and Broke. I’ll live-blog the first hour of the program. You can catch her on WNET 13 New York or possibly your local PBS station. Show them your support. Read on and reload throughout the hour! Keep in mind my server ... Continue reading this article…

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Monthly Update – February

by Flexo

Two things helped to stabilize my net worth over the past month. First of all, the bonus, although relatively small, helped me out. Unfortunately, that money will go to my car insurance payment and the balance due on my taxes. Secondly, the market turned upwards in February, so my investments gained some value, although that ... Continue reading this article…

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Another Option for Your 401(k)

by Flexo

You’ve heard of the Roth IRA, but you may not have heard of the Roth 401(k). This is a new twist to the employer-sponsored retirement account that will be going into effect on January 1, 2006. Your total 401(k) contribution limits won’t change, but like the Roth IRA, the money you contribute to the Roth ... Continue reading this article…

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Financial Disasters

by Flexo

Gerri Willis at CNN Money gives us five tips for handling financial emergencies. Create a safety net. This requires thinking ahead. Everyone will have at least one kind of financial emergency in their lifetime. The author suggests having three to nine months’ worth of living expenses in an accssible account. Break into the piggy bank. ... Continue reading this article…

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