My Dollar Plan» Roundups Archive | My Dollar Plan

Black Friday, Debt, and Taxes

Madison — Thu, 19 Nov 2009 13:29:14 +0000

I started making our Christmas lists with some inspiration from the 2009 Holiday Toy List. Since our kids are getting old enough to understand some of the festivities, I’m really looking forward to the holiday season this year.

Of course, let’s not get ahead of ourselves… first we need to make plans for Black Friday. It’s just around the corner! Just 8 days to go (but who’s counting?)

Here are some of my favorite places to scan the leaked ads for Black Friday. And be sure to check back tomorrow for my favorite Black Friday post….

Black Friday Hangouts

Debt

Taxes

By the Numbers

And More!

Written by Madison

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Our New ooma Phone, Investing, and More

Madison — Thu, 12 Nov 2009 13:29:35 +0000

Our new ooma phone system arrived this week. Now we can say goodbye to our monthly phone bill. With the ooma phone, after you buy it, you don’t need to pay a monthly fee for the service.

We got an ooma on sale for $204 (which came with an iPod shuffle). After switching from Vonage at $21 per month, we should break even in 10 months. After that, we’ll have free phone service.

I didn’t know about the ooma phone until just last month, but it seems like a great idea. It makes me wonder what other services that we pay for monthly can be converted into a one time fee.

Have you switched over to ooma? If so, I’d love to hear about it!

Investing

Saving

By the Numbers

And More!

Written by Madison

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Pay with Miles, Investing, and Credit Cards

Madison — Thu, 05 Nov 2009 13:29:58 +0000

We’re planning a big family vacation for next summer. Scott, me, the kids, and my parents are all headed to Seattle for a friend’s wedding. We decided to make a week out of it and make it a vacation.

Gone are the days when Scott and I could book 2 tickets on Northwest with our miles in under 10 minutes. Have you ever tried to coordinate booking 7 plane tickets using frequent flier miles from 2 different accounts for 4 tickets, getting reasonable prices for the remaining tickets, getting good flight times for traveling with 3 kids ages 3 and under, and getting decent seating for traveling with a lap baby? Don’t forget to throw in the Delta/Northwest merger of our frequent flier miles, and all of a sudden, booking the flight got really complicated.

Pay with Miles

Luckily, I discovered Delta’s “Pay with Miles” program. While the conversion ratio isn’t that great, it looks like a cheaper option than using miles outright for the dates we need. You need to have one of the American Express Delta cards to use the Pay with Miles program:

We each applied for a card, since you get 25,000 bonus SkyMiles after the first purchase (good for $500 off with the Pay with Miles program for 2 cards). After we get our new cards, even after paying the annual fee, it should make booking our trip much easier… and cheaper!

Investing

Credit Cards

By the Numbers

And More!

Written by Madison

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IRS Enrolled Agents, Investing, and Housing

Madison — Thu, 29 Oct 2009 13:29:42 +0000

To satisfy one of my crazy tax desires, I’ve decided to become an enrolled agent. Not exactly your typical free time hobby, but something I find intriguing. I’ve completed taxes for years and volunteered for VITA, so it’s really the next logical step.

As an enrolled agent, you can practice and represent taxpayers before the IRS. Sounds exciting, doesn’t it?

So I’ve been spending my time studying everything anyone ever wanted to know about taxes. I’m sure I’ll be sharing some of the topics with you in the future, as it’s reminding me of lots of great tax strategies.

Ok, back to studying…. in the meantime, you can check out the new e-book 52 Ways to Make Extra Money at PT Money. My tips are on page 24 (use Ebates) and page 32 (use Swagbucks).

Investing

Housing

By the Numbers

And More!

Written by Madison

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Joining Pentagon Federal, Real Estate, and Investing

Madison — Thu, 22 Oct 2009 13:29:03 +0000

I recently highlighted our mortgage refinance with Pentagon Federal Credit Union. A reader, Vic, wanted to know more about joining the credit union.

Not only do they have some incredibly good mortgage rates, but they also have good balance transfer rates from time to time (which we used on our rental property), and decent car loans if you’re in the market for a used car. Finally, they have CD sales, where they offer fantastic CD rates. However, they go quickly, so you usually need to have your membership established ahead of time.

The best part about Penfed, is that anyone can join. If you don’t qualify for one of the main criteria, you just make a $20 donation to the National Military Family Association. It’s a membership fee that I’ve earned back many times over with all their great products.

Real Estate

Investing

Savings

By the Numbers

And More!

Written by Madison

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Dow Breaks 10,000, Investing, and Credit

Madison — Thu, 15 Oct 2009 14:10:34 +0000

Wouldn’t you know it, the day the Dow decides to cross 10,000, I have a chunk of money sitting on the sidelines. It wasn’t intentional, as I don’t believe in timing the market; it was the result of moving some money around.

I was moving our solo 401k from Fidelity to Vanguard. At the same time, I decided to get a bunch of paperwork done and move an old 401k to an IRA at Vanguard too.

It probably won’t be that big of deal, since it’s a tiny portion of our portfolio… but it makes me question why on earth it takes so long to do a transfer or rollover?

I guess the bigger question is… where is the market headed from here?

Investing

Credit

By the Numbers

And More!

Written by Madison

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DirecTV at Two Houses, Real Estate, and Investing

Madison — Thu, 08 Oct 2009 13:29:10 +0000

Did you know you can get DirecTV at two houses on the same account? Crazy.

I took the two little kids for a weekend visit to Michigan. My grandma used to live there; after she passed away last year, my extended family now uses it for vacations.

My uncle, who was visiting from California, had DirecTV installed while we were there. It turns out he just added the house in Michigan to his account. Apparently, it’s just like adding an extra receiver at your house. They can then call DirecTV to switch to the local channels of whichever house they’re at.

I had no idea this was possible. I find it fascinating! It’s an incredibly cheap way to get satellite at your second home!

Did you know this was possible?

Announcements

We hit a million visitors! How exciting! Don’t forget, tomorrow is the deadline to enter the $50 Amazon Gift Card Giveaway to celebrate!

Real Estate

Investing

By the Numbers

And More!

Written by Madison

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Did Mortgage Rates Just Hit Rock Bottom?

Madison — Thu, 01 Oct 2009 01:57:58 +0000

I had to rearrange my schedule today. I subscribe to the rate watch at Pentagon Federal and they sent me an email that the 5/5 ARM rate had dropped to 4.0% with no points. And it’s a jumbo!

Are you kidding? Is it April Fool’s Day? Whatever the reason, I had to drop everything and apply for a refinance.

I’ve been considering refinancing lately, and I’ve been debating between the Easy Orange mortgage at ING Direct and the Pentagon Federal product. They’re two places that you can get a jumbo mortgage at conforming rates with reasonable closing costs. But there’s no more debate; the rate today at Penfed sealed the deal.

I’ve highlighted in the past the 5/5 ARM and how it’s the perfect ten year mortgage since the break even point for the 5/5 ARM versus a fixed 30 year loan is just after 10 years.

We locked in the 4.0% rate (I didn’t bother with paying any points) and we’ll save $350 each month from our old 5.125% rate. After about $1200 in closing costs we’ll break even in 4 months.

I’m still in shock! I’ve been a subscriber to the rate watch for years, and I don’t ever remember seeing a lower rate. Have we finally hit bottom? I don’t know, but I do know I had to have that rate when I saw it!

Want to shop around and see how the Penfed rates compare? You can get multiple quotes from to see how it stacks up.

Normally, this article wouldn’t go out until tomorrow morning, but I wanted to get it out tonight in case anyone else wants to lock in the rate before the night is over. Who knows what the rates will be in the morning…

Don’t forget, if you are a first time home buyer, you can combine it with the $8,000 First Time Home Buyer Tax Credit for a fantastic deal!

Investing

Taxes

By the Numbers

And More!

Written by Madison

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Fidelity Sucks, Credit, and Investing

Madison — Thu, 24 Sep 2009 13:58:32 +0000

Before diving into the personal finance articles of the week, I usually write about a quick personal finance topic that I’m engaged in for the week. However, as I was writing about my difficulties dealing with Fidelity today, I got a little long winded…. obviously I’m really mad!

So, we’ll just jump right into the articles of the week, and I’ll be back shortly to tell you Why Fidelity Sucks!

Credit

Investing

By the Numbers

And More!

Written by Madison

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MonaVie Trying to Sue, Retirement, and Debt

Madison — Thu, 17 Sep 2009 13:31:58 +0000

This week, I’ve been busy following the legal developments for a fellow writer and friend of mine. You know him as Lazy Man of Lazy Man and Money. Awhile back he asked if MonaVie is a Scam?

His wife was recruited to sell the juice blend, which runs around $40 a week, and is part of an multi-level marketing (MLM) model. Now MonaVie is Trying to Sue him over trademark infringement.

I’ll be closely watching to see how things develop for him, and wondering if we’ll receive any cease and desist letters for companies that I’m critical of…

On the lighter side of things, apparently the IRS is up to date on the way we now communicate. In an effort to generate public awareness about the tax credits (like the $8,000 First Time Home Buyer Tax Credit and the Energy Efficiency Tax Credits) the IRS launched videos on YouTube.

Retirement

Debt

By the Numbers

And More!

Written by Madison

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Starting a New Business, Debt, and Retirement

Madison — Thu, 10 Sep 2009 13:29:38 +0000

When I used to work in the corporate world, I spent an hour commuting each day. I didn’t especially like living across town from my office, but looking back, it was probably the most valuable hour of my day. I used to brainstorm various ways to move around money to maximize retirement planning options, tax concepts, and business ideas.

I had all but forgotten about my power hours of dreaming until we went on vacation. I spent hours looking out the window and observing all the businesses along the road; it got my wheels turning again! I must have pitched a dozen outlandish business proposals to my husband as we drove.

Fast forward to today, and I have a notebook full of research for one of the new business ideas! After a week of intense planning, my new business partner and I have an end of year roll out planned. As we go, I’ll tell you all about it. In fact, I might even have an opportunity for readers to participate in it.

Is the end of year date a little ambitious? Sure. But, in all the reports about the high percentage of businesses that fail in the first two years, have we ever seen the research about how successful the business ideas were of people who sat on the sidelines?

Sometimes we have to take risks. If the business fails, at least we gave it a try. If it remains a dream, we’ll never know if it could have worked.

Have you had a business idea floating around in your head for awhile? Looking for some inspiration to implement those dreams? Here are some great articles I found while doing research last week in addition to our weekly personal finance finds:

Starting a Business

Debt

Retirement

By the Numbers

And More!

Written by Madison

Lending Club is Giving Away $2500

Madison — Thu, 03 Sep 2009 13:21:02 +0000

Lending Club is closing in on a big milestone soon… their 25,000th investor. To celebrate, they are giving away $2500 cash to the 25,000th investor!

If you haven’t signed up for a Lending Club account, you might as well do so for your chance to get the cash. Just open an account by September 30, 2009. (You can also stack the chance to win with the Lending Club $25 Bonus.)

Lending Club averages 9.64% net annualized returns; you can see how My Dollar Plan readers stack up in Readers’ Lending Club Returns.

For more information on Lending Club, check out my Lending Club Step-By-Step Guide and Lending Club Review.

Investing

Housing

By the Numbers

And More!

Written by Madison

Finance in Schools, Investing, and Credit

Madison — Thu, 27 Aug 2009 13:29:51 +0000

A close friend of mine just told me that she got a position teaching personal finance at one of the local universities this semester. Not only was I excited for her, but I was really excited for the students.

I just wish that all the students would be required to take the class instead of it being an elective. If we taught kids how to manage money, it would be more reasonable for us to expect them to do a good job managing it!

We’re still vacationing, so I’ll keep this short and sweet and get right to the personal finance articles of the week:

Investing

Credit

By the Numbers

And More!

Written by Madison

Vacation, Savings, and Investing

Madison — Thu, 20 Aug 2009 13:29:35 +0000

Hopefully, while you’re reading this, we’re successfully heading south. It’s our first vacation by car with three kids in tow. Wish us luck… we’ll probably need it!

While we are out boating and enjoying the houseboat capital of the world you’ll be in good hands.

As we travel, you’ll begin to see articles by some of our new writers. They are a fantastic team, and I’m sure as you get to know them, you’ll find that each one has a different perspective on money. Let’s face it, there are lots of ways to manage money, and it’s always good to hear from people with different backgrounds.

Savings

Investing

By the Numbers

And More!

Written by Madison

Back to School, Investing, and Credit Cards

Madison — Thu, 13 Aug 2009 13:44:25 +0000

It’s that time of year again… back to school! Luckily, we have a law here that school can’t start until September (to protect the tourism industry), so the kids still have a few more weeks to enjoy their time off.

Back to School

If you are getting ready to send your kids back to school, check to see if your state is offering a sales tax holiday. Four states still have shopping days left later this month to shop back to school sales without paying sales tax.

Shop with your Pentagon Federal Credit Card and you’ll get 5% cash back on school supplies until Sept. 30, 2009.

Are your kids headed off to college? 10 College Money Myths will come in handy.

For younger kids, check into the Upromise rewards program or the Little Grad program. Both earn money for college that can be deposited into a 529 plan.

Investing

Credit Cards

By the Numbers

And More!

Written by Madison