Tag Archives: personal finance

MIT Smarties Create Interactive Wallets


Raise your hand if you’ve ever avoided looking at your credit card bill (easier now, thanks to automatic payments) or bank balance? We’re oftentimes guilty of not managing our money as best we could, and we hate to use technology as the culprit, but you can’t deny that money is becoming increasingly abstract with online banking. That’s an issue a group of MIT students address with a project that creates mechanical wallets to make you more conscious of spending. One wallet buzzes when you make a transaction, another inflates or deflates to reflect your bank balance, and one (our favorite) includes a hinge that becomes more difficult to open as you get closer to your monthly budget max. Check it out! [Gizmodo] Keep reading »

Money 101: Why You Need A 401(k) Now

Retirement seems so far away. Then again, so did 30 and that’s all up in my grill. Like other distant things, thinking about retirement is easy to delay in favor of the triage of daily life. But objects in the mirror are closer than they appear. Since there’s no way to rapidly save for retirement besides a windfall (hello, lottery!), it’s critical to begin saving ASAP. Le sigh. This article will guide you through the basics of the time value of money and its progeny, the 401(k). Keep reading »

Poll: How Much Do You Contribute To Your Rent/Mortgage?

How Much Do You Contribute To Your Rent/Mortgage?

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Crippling College Debt: How Do You Manage Your Student Loans?

Education is supposed to enrich our lives and make us more worldly and learned. But for many of us, higher ed just brings on thoughts of debilitating debt and crashing credit scores. According to the Project on Student Debt, the average 2009 graduate owes around $24,000 after graduation. But that’s nothing compared to the astronomical amount of school debt Kelli Space has. Keep reading »

Cash & Coupling: Divorce In Your Future? Here Are 4 Steps To Take Before You Tie The Knot!

When I think prenup, I think Donald Trump protecting his vast fortune from gold-digging spouses. But this is an outdated point of view. Getting a prenuptial agreement is actually a very savvy move for a pragmatic couple. Prenups are an example of one of the important financial choices women can make from the outset of a marriage to minimize the financial upheaval in the worst-case scenario: divorce. Though few of us see ourselves as future-divorcees, I’ve come up with a few recommendations for preemptive, defensive financial management, just in case. Divorce still typically incurs much more financial harm to women than men. These four tips offer basic, fundamental financial safeguards that are only logical in an age of high divorce rates. Keep reading »

Therapy For Your Pocketbook Episode 12: “Clothes Investment”

In the latest episode of “Therapy For Your Pocketbook,” Susie, a young professional, shares that she sees everything she buys as an investment … like sunglasses and blouses her daughter will wear someday. But, um, she doesn’t have a daughter, yet. Finance Expert Manisha Thakor explains that if you’re in serious credit card debt, the most sound investment you can make is — pay what you owe! That’s a guaranteed return on investment. [Therapy For Your Pocketbook] Keep reading »

Money 101: How To Start Prepping Now For Your Inevitable 2010 Tax Return

You’re not going to like this. But now — mid-November — would be a really smart time to start thinking about your 2010 taxes. Yes, going to the gynecologist sounds like more fun. And, sure, right now the only taxes you’re thinking about are the sales taxes on your holiday purchases, but consider this: with a little bit of planning this winter, you can save yourself a lot of stress when you file your 2010 tax return. For tips on how to get your files organized before you file, we talked to Lee Molotsky, managing partner of The Molotsky Tax Advisory Group and co-host of “THE MOLOT$KY MONEY HOUR” radio show. You will thank us. Keep reading »

Cash & Coupling: Advice For When You Or Your S.O. Changes Careers And Takes A Pay Cut

We know you love your man for more than how much he reminds you of Don Draper when he puts on his suit and tie every day, just like we know that you aren’t with him for his paycheck. That said, a voluntary career change involving a serious pay cut isn’t necessarily easy to cope with. If your significant other has come to you wanting to talk about a career change, hopefully it’s something you can believe in, like supporting his lifelong desire to be a teacher, not joining his little brother’s garage band. But even if your heart’s behind him and your relationship’s rock solid, it doesn’t mean that your finances will be, too. Cathi Doebler, author of Ditch the Joneses, Discover your Family, offered this advice for deciding whether a major career change is right for your family. Keep reading »

Quick Tip Of The Day: Save Big With Coupon Codes

In the last year or so, I’ve turned into my mother and have become obsessed with using coupon codes when shopping online. I’m so obsessed, that I never make a purchase online without searching for a coupon code first. I’d say about 75 percent of the time, I’m successful in that search. Anyway, I wanted to share a couple of the codes I’ve been using in recent days. First, is this amazing deal at Restaurant.com: through October 31st, you can save 80 percent on gift certificates to thousands of restaurants with the coupon code “TREAT” at checkout. Last week, I bought four $25 gift certificates (normally $10 each) to a couple of my favorite restaurants for a total of eight bucks! That’s $100 worth of food and booze for less than a tenner. Not bad, huh? Keep reading »

Frisky Rant: Pay Off Your Own Debt!

I graduated from college two years ago with $115,000 in student loans. I’m paying them off a little at a time, and when I need a reason to drink, I like to play with loan payoff calculators online, which tell me that, if my monthly payments stay as they are, I should be done in about 42 years. Sure, sometimes I wish I had picked a less expensive school, but so do a lot of people, right? What’s done is done, and now I have to pay for my degree, just like everyone else … right? Keep reading »

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