Wow, super busy week at work to start the new year, so I have to confess I’m behind in my reading of blogs. Thus, the links are a bit abbreviated this week, but I promise I’ll be back on top of things soon!

• As you may have noticed, the New Year started on Tuesday (and if you didn’t notice…wow. Just…wow). Most of the blogs in the blogroll posted resolutions, both financial and otherwise. Personally, I’m not a big resolution guy, but I did resolve to make $5,000 in side income in 2008. Monday I’ll start outlining just how I plan to make that happen.

• Oil hit $100 per barrel for the first time this week, and gas prices are back above $3/gallon here in Wisconsin. At Gen X Finance, Jeremy had a great article on how to invest to help offset increasing gasoline costs. Check it out and maybe next time everyone else is complaining about the increased cost of filling up, you can be chortling about the

• The start of a new year also means another chance to max out your retirement savings. But how do you decide which investment vehicle is the best place for your limited dollars? Free Money Finance chimed in on investing in a Roth IRA vs a traditional IRA or non-matched 401(k). I fall squarely in the middle on this one: I think there are enough advantages to investing pre-tax money (401k & trad IRA) and after-tax money (Roth) that you should have have both types, and invest based on your current tax rate and projected future needs. Have your cake and eat it too!

• Finally, Madison at My Dollar Plan had a great little collection of financial calculators. Don’t just guess about your savings, investing, retirement, or insurance needs, take advantage of these free tools and refine your figures!

Well, I hope everyone had a safe and happy first week of 2008. Don’t forget to check back Monday for the first outline of my 2008 extra income project!

Miscellaneous | 5 Comments »

Wow, hard to believe it’s already 2008. Time once again to see if my Michigan Wolverines can lose another bowl game (7-7 tie with Florida right now, so at least it’s not yet inevitable!) and start thinking about the year to come.

I’ve never been big on new years resolutions, but I did decide to make a financial one this year. I resolve to make at least $5,000 this year from sources other than my job. To some people this might not be much, but hey, ya gotta start somewhere! Over the next week I will be going into much more detail of how I plan to reach this goal, following each step I will be taking to find a business opportunity, select an appropriate business structure, and get started. Stay tuned!

Edit: Final score Michigan 41 Florida 35, Go Blue!

Miscellaneous | No Comments »

Well, Friday is here once more and with it, the last work week of 2007 is over! Time flies, eh? Anyway, here are some of my favorite posts from the holiday-shortened week.

• At The Simple Dollar, Trent has a great list of 6 great financial education resources. Knowledge is the key to success with money (as with anything else) and I don’t think anyone can claim to know everything they could ever need to regarding personal finance and investing.
• Free Money Finance had a good article on how to make sure your boss thinks you’re doing a great job. For most of us, our job is the main source of the income we’re so concerned with saving and investing, so it is definitely wise to make sure the boss lets you keep it!
• Continuing the “what is your time worth” theme from the last FLH, Jim at Blueprint for Financial Prosperity wrote about one easy way to calculate the value of your time, assuming you think your job pays you what you’re worth!
• In some sad but really not surprising news, Jeremy at Generation X Finance wrote about a study showing that teenagers are not saving for retirement. This part seems blindingly obvious, but what I found really interesting was that the study also estimated that 35% of today’s teenagers will never put money into a 401(k) or similar account, due to a combination of ignorance and not having the option in their jobs. It amazes me that will all the uncertainty over social security and the loss of employer pensions so many people in my generation will not take action to help themselves. This just begs for some kind of basic finance class in middle or high schools!
• And on a social security related note, Jonathan at My Money Blog had a story about what it takes to live exclusively on Social Security, with a variety of quotes from people in that unfortunate situation. The fact that they can even come close to getting by with so little really makes it hard to sympathize with those poor schmucks who can’t save even on $250,000 a year, doesn’t it?
• One of the (great) non-financial blogs I read is by Seth Godin. He had a great post asking what have you been doing with your time so far in the 2000’s? I thought it was a great call to action. If you’ve been waiting (like me) for the right moment of inspiration and circumstances to try starting a business, changing careers, or pursuing a dream in any form, it’s time to start taking action. Understanding that the world is constantly changing, you can’t wait for the right moment, you have to start moving and make that moment!
• And finally, with New Year’s Eve fast approaching wine lovers should check out the money saving advice from Lazy Man & Money and Blueprint for Financial Prosperity for help finding the perfect vintage to ring in the new year without breaking the bank.

Have a great weekend!

Miscellaneous | No Comments »

I’ve added Mrs. Micah and My Dollar Plan to the blogroll. Both are recent additions to my subscription list as well. Check them out!

Miscellaneous | 2 Comments »

Better late than never, that’s what I say. So, on to the weekly recap!

• Probably my favorite post of the week was a guest post by Millionaire Mommy Next Door  on Get Rich Slowly called How I Became a Millionaire While Working in my Pajamas. She talks about how she and her husband started young with a small income and achieved financial security by starting a business. Talking about saving money and cutting spending has it’s place, but stories like this one show why I believe that entrepreneurship and increased income are the real key.
• On a related note, Mrs. Micah wrote about determining what your time is worth when it comes to different ways of making money, particularly online. She mentions things like paid surveys, which can seem like good money but often work out to a very low hourly rate. I do like surveys for a little spare time cash, but her point of knowing how to focus on profitable use of your time is well taken.
• Continuing the income theme, No Credit Needed wrote about how just $10 a day can add up to $750,000 over a 50 year period with only a 5% return. Two points here: 1-Even a small investment really adds up over time, and 2-time is the most important factor, so procrastination is costly.
• Shifting gears, My Dollar Plan has a good list of 10 tips for holiday shopping online. I know that the convenience and lack of crowds has converted me to shopping online almost exclusively, and this list has some good tips to get the most out of it.

Finishing on a holiday note: 10 days till Christmas, are you ready?

Miscellaneous | 3 Comments »

Well, after a short hiatus (due mostly to a poorly timed computer failure) the Friday Link Highlights are back! I know, I’m excited too.

• JD at Get Rich Slowly has a good post on giving personal finance books as gifts, including discussion of whether such books make good gifts and some age-based recommendations.
• Jonathan at My Money Blog has a good post about setting up a Roth IRA as a gift. There are some restrictions, but if they qualify I think this is a great idea, for the same reason I like gifts of stock rather than the perennial savings bond.
• Also at My Money Blog, during my PC forced down time Jonathan wrapped up his series detailing how he re-built his retirement portfolio from scratch. Lots of information, and his thought process is well laid out.  
• For real estate folks (or stats junkies like me), Barry at Financial Page has the Third Quarter National Home Price Index. Not looking good for sellers, but the investor in me is certain there are deals to be had…
• With the end of the year fast approaching, tax time is coming soon. Jeremy at Generation X Finance has a nice post about how to tell if you will fall under the alternative minimum tax (AMT) and what to do about it if you do.
• Speaking of the AMT, KMC has an article about why your tax refund might be delayed if Congress doesn’t pass a fix for the AMT formula soon. Let’s all hope our legislators take prompt and decisive action on this topic. Ha.

Glad to be back in the saddle here (do blogs have saddles? I’ll assume they do). Have a great weekend everyone! 

Miscellaneous | No Comments »

One of the first indications that the Christmas season is truly starting is when the first catalogs start arriving in the mail. Everything from toys to clothes to electronics to car accessories to some truly strange collections of novelties and gadgets, all available by mail, telephone or Internet for convenient purchase.

Reading through each catalog, it is inevitable that I’ll find some gadget that I never knew existed, but suddenly have to have. Too many of these things wind up under the tree, where they provide a few days of entertainment before being relegated to a closet and forgotten. Even worse, after the holidays have passed, the gift list can easily become a shopping list, leading to spent gift money and more stuff in the closet.

So this year I’ve decided to break out of the cycle and throw out the catalogs unread. If I didn’t need it before, I don’t need it now.

This may result in a short and boring gift list, but it guarantees I will use what I get, and there won’t be so many worthless electronic doodads vying for my money when January rolls around. As Thoreau said, “Simplify, simplify!”

So who’s with me?

Miscellaneous | No Comments »

I just want to wish a happy Thanksgiving to folks here in the States. I hope everyone enjoyed themselves and got their fill of turkey!

I was disappointed my Lions lost to the Packers, but I can’t say I was really surprised.

Next up: Black Friday! I don’t plan to brave the crowds, but if you are, be sure to have your goals in mind and don’t get sucked in to buying just because “it’s such a great deal!”  Thus are oversize Christmas credit card bills born!

Miscellaneous | No Comments »

Hard to believe that Friday is already here! Heading into the first weekend of existence for Money Forge, here’s a collection of some of my favorite posts and stories from elsewhere in the financial blogosphere:

Lazy Business Owner has a great post on how to make your business look bigger than it actually is. One of the barriers to starting a small/side business is overcoming your customers’ perception that small=inexperienced and risky, and LBO has some good tips.

If E-Trade’s recent ups and downs have made you a bit uneasy, Jonathan at My Money Blog and Jim at Blueprint for Financial Prosperity talk about SIPC insurance: what it is, what it does, and how to know if you have it.

Also in the investment vein, Free Money Finance has a quickie on why index funds are great investments. I couldn’t agree more.

Trent at The Simple Dollar just finished reading 52 personal finance books in 52 weeks, along with reviews and rankings to help you decide what to read first. Very useful!

Finally, with the holidays approaching (is Thanksgiving really next week!?), five cent nickel talks about ways to reduce the financial pain of buying so many Christmas presents. Our family uses the “draw names” technique, but there are certainly other options!

Also in the Christmas theme, Free Money Finance talks about how to maximize gift cards while five cent nickel cautions against giving gift cards at all. I’m with five cent nickel on this one.

Miscellaneous | 1 Comment »

Welcome to Money Forge, a personal finance blog dealing with the three fundamentals of achieving financial freedom:

1. Spending less than you earn
2. Earning more money, from more than one source
3. Investing wisely for maximum return

I will be constantly searching the web for useful tips and tools to share with you, as well as writing about my own thoughts, ideas, and questions about all things financial (and some things that aren’t).

I’ll be adding lots of resources in the days and weeks to come, so be sure to subscribe to the feed so you don’t miss anything!

Miscellaneous | No Comments »