I love taking advantage of the bank. Does that sound mean? Well, since I worked for several banks over my career, I can tell you this: banks are kind of mean themselves. They make a ton of money and they sit around most of the day trying to find new ways to make even more off of you. Just recall the way they were back in the financial crises a few years ago, practically destroying our economy and rewarding themselves with “golden parachutes” while many were losing their houses thanks to their predator mentality in the mortgage game. So it is a good feeling to know that many of them are on their knees begging for my business. The best part of that is that I know how to beat them at their own game. And now I want to share it with you. Am I being too hard on them? I don’t think so. Here’s how the bank begged me to take their free money!
One thing has changed since 2007. The banks are trying to win you back are being are pretty nice to you in one way. And that’s this: They will practically bend over backwards to get you to open an account by giving away free money! The sky is the limit and the competition is so fierce that the offers are just plain weird. You probably know that, if like me you get bombarded with e-mail, snail mail, and all kinds of promotions each week to draw you in to their “web”. So here are just a few of the ways that you can get something for practically nothing these days. I did it and so can you. Continue reading
Just so you know, it requires a great deal of restraint on my part to keep from writing about my political opinions here on the blog, especially about our new president and the chaotic events that seem to occur almost every day down in Washington, DC. My wife has reminded me that my readers here at Super Saving Tips aren’t looking for that sort of thing, and that you the readers are more likely to peruse the New York Times or Washington Post if you want political fodder. But wonder of wonders, I finally do have a little something to say that actually involves your personal finances and politics. So hopefully you’ll be interested this time around. It’s about…tax reform!
Trump’s Proposed Tax Reform
Our new president has presented the first trickles of information about his plans to reform the tax code and fulfill his campaign promise to review and change the federal tax laws. He and his Treasury Secretary, Steve Mnuchin, say it will be the biggest tax cut ever (fact check: actually it will be the biggest cut since the 1980’s and Ronald Reagan). Now normally when you talk about cutting taxes, that’s a pretty popular idea out there among the constituents. Continue reading
The fears we all have about our finances are real. In fact, they are things that happen every day to many people and that’s the part that scares us the most. We never know when we might suffer a shocking natural disaster or some careless transaction in our lives that will cost us money, safety, and pride. There are scam artists and there are some us who are just a little too trusting as well. It doesn’t really matter if you are wealthy or not, no one wants to suffer these financial losses and thus we worry about it.
On Tuesday in Part 1, I covered four huge financial fears and how to cope. Today, in Part 2, let’s look at four more of these financial woes that can happen and what we can do to stop them. Continue reading
It runs through your mind at night like a scary movie. It’s those frightening financial fears that so many of us worry about daily. Some of these fears are caused by a thing as simple as student loan debt or it may be as complicated as dealing with a health issue and how that can affect your work, income, and spending. I don’t want to paint a picture of doom and gloom here but being a realist I have been in the position of worrying about money, so I understand what it is like. So what can we do about that? The worries and fears we have are in some ways a self-fulfilling prophecy.
Worries and fears about money and financial problems can have a terrible impact on you. It is debilitating to spend hours of time thinking and ruminating. It can affect the way you function and perform at your job and it can cause you to lose sleep at night. Even personal relationships are disrupted. All of those things can actually make your situation worse and possibly expedite the very fears you have into happening. While there are things that can and will happen to us in life, the time and energy we spend on this subject is much better when it is spent on a plan of what we can actually do to prevent our fears from ever happening or what we can do to prepare and fix them if and when they actually occur. Continue reading
Please welcome Troy from Market History for today’s guest post on what karate can teach us about investing.
I used to do karate when I was in elementary school and when I first started high school. Unlike many sports, karate is insanely aggressive in which the training is rather painful. There are a lot of parallels between karate and investing because karate isn’t just a sport. It’s more of a way of life that trains both your body and your mind. Here are some lessons from my experiences that you can apply as an investor.
Doing nothing is just as important as doing something
You can easily tell a good martial artist from a bad martial artist. Someone who’s bad at karate will throw as many punches, kicks, and combinations as possible in any given round. A lot of times these attacks will be uncoordinated and can be easily deflected. Continue reading
I love the internet! I mean I really, really love the net. Yes, of course I love my wife Suzanne very much, but I love the internet. Can’t I just marry it too and pledge my everlasting love and devotion?
The internet is always there when I need it (barring a power failure). I thank you batteries and Wi-Fi very much for that. Yes, I can use my laptop or smartphone and take it anywhere I go and that’s a really good thing, isn’t it? Continue reading
There is no escaping the fact that Americans like “BIG” from the Big Mac to the Big House and Big Car. We either have, wanted to have, or work towards having those things as our goals in life. Because of that single fact, Americans spend and spend their money and, oh yeah, it’s money they may not even have! Today, as consumers, we acquire more than double of what we did about 50 years ago in material goods. That translates to an average retail credit card debt per household in the USA today of over $8,000 per family. This begs the question: why are you spending more than you make?
I have to laugh a little now talking about this subject. After all, I’m no different than you. I think I used to be obsessed with bigger is better and more, more, more just like most of us have over the years at one time or another. We seem to have that idea in our brains almost from birth. It continues to find ways into our lives all the time, for example just last month, McDonalds introduced a bunch of new Bigger and Better (I guess only time will tell if they are actually better) big sandwiches that border on the ridiculous! In fact, they’re big and also budget-bustlingly big. It’s certainly not uncommon these days to see prices at fast foodies as high as $7-$8 each. Continue reading
April is Financial Literacy Month and it’s the perfect time to think about this subject and ways to help make you and your family more financially savvy! During this month, I have been asked several times by others in the financial world a simple yet personal question: “What do I wish I had learned as a kid about money that I wasn’t taught?” That got me to really thinking about the subject of personal finance in a little bit different way.
Almost everything I ever learned about money and personal finance as a child I learned from my parents. Schools just didn’t spend very much time teaching about that and surprisingly even today, some 60 years after I went to elementary school, they still don’t! Continue reading
I recently spent the day with my good friend who went to court on a traffic ticket here in my hometown…hey, I’m retired so I have a lot of free time on my hands. I was there as moral support armed with a little bit of knowledge that I have from some of the memorable and yet unpleasant experiences I have had over the years trying to fight a ticket in court.
Well, there’s some good news and some bad news here to report. The good news is, of course, you get your day in court before the judge. The bad news is that nothing I have ever experienced has really changed. You probably can appear in court until you are blue in the face, you’re more than likely to be ruled guilty as charged and you’ll have to pay a fine or worse. It may be even much worse than you think. So today I’d like to write about whether you need an attorney for traffic tickets.
The System is Really “Big League”
If you have ever gotten a traffic ticket, like a speeding ticket, a drunken driving ticket, or a ticket related to an accident, then you probably have received from one to a dozen solicitations from lawyers who make a living representing people like you and me in traffic court. These guys practice this kind of law exclusively and sometimes handle dozens of these cases a week. Continue reading
I don’t care who you are or how old you may be, you have thought about Social Security from time to time. It may be because you are wondering if there will even be such a thing when you retire. Perhaps you are approaching your retirement years and are wondering exactly what you will be getting every month once you start to draw upon it. Whatever the reason that Social Security has crossed your mind, the time for thinking about it isn’t when you are turning 66 or 67. Figuring out how to maximize your Social Security benefits starts long before that.
In fact, the time to think about your Social Security benefits is always now. Here’s why. There are a dozen factors that determine what you will get as your monthly payment when the day finally arrives for you to collect. Many of those items are things you do when you are young, middle aged, and then finally retired and each of those things will affect the amount you receive. Don’t believe me? Here are 12 ways you can increase you Social Security payouts when you retire by simply following these behaviors along the way starting right now! Continue reading