Archive for March, 2008

IRA Recharacterization: What, Why, How and When?

Posted by Madison on March 31, 2008

Have you found yourself in a situation where you need to complete an IRA recharacterization? Here is everything you need to know to understand how to get it done on time and report it on your taxes correctly. What is a Recharacterization? After you make a contribution to an IRA, you can later change the […]

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Retirement, Taxes, Homemade Cleaners and More!

Posted by Madison on March 30, 2008

We got as far as we could yesterday on our taxes. Now I’m going to have to work on a strategy to recharacterize to finish it up. Since the taxes are at a standstill for a few days, I’ve been hard at work crunching the numbers on a possible refinance. Stay tuned as I’ll document […]

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Tax Weekend and The Money Writers

Posted by Madison on March 29, 2008

This weekend I’m busy crunching numbers. I’m trying to finish up our taxes and despite my organization, we ran into some problems. Our income disqualified us from some expected credits. Luckily I have some room to work with it, but I’m trying to calculate the optimal long-term solution with a few different choices. Stay tuned […]

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Analyzing Our Energy Use

Posted by Madison on March 27, 2008

We’ve been focusing on reducing our energy bill lately. For example, my husband has been looking into switching to compact fluorescent light bulbs. In addition, our energy company is very proactive in sending us monthly mailers with tips and tricks to reducing energy consumption. See previous articles Ten Easy Energy Savings Tips and Energy Savings […]

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Investment Club Portfolio and Returns

Posted by Madison on March 26, 2008

After I wrote how to start an investment club, readers wanted to know more about our investment club portfolio and returns. With the permission from the club members, here is what our portfolio and returns look like at Scottrade, in addition to more information about how the club works.

Are You Considering a Refinance?

Posted by Madison on March 24, 2008

Photography by: bookish in north park We’re considering refinancing our house. It’s been two years since we refinanced our construction loan into our existing mortgage and rates are lower now than the interest rate we got two years ago. If you are considering refinancing, here are some situations where it might make sense to refinance.

Investment Snowflaking at MSN

Posted by Madison on March 19, 2008

Welcome readers from MSN! Today I wrote a guest post for MSN on Investment Snowflaking explaining how it works, the benefits and some examples. It’s a spin-off of a popular strategy know as debt snowflaking. Each time you receive extra money — a sale on eBay, a bonus check, or repayment from a friend who […]

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Our Dumbest Purchase Ever

Posted by Madison on March 18, 2008

DebtKid recently shared his dumbest purchase ever: a Nintendo DS Lite. In fact, it was such a terrible purchase that he’s going to give it away today! He’s encouraging others to share their story. Here’s ours… Our dumbest purchase ever: a sauna! It’s a tradition in our family that everyone has a sauna at their […]

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Yesterday kicked off March Madness and one big gambling opportunity. How many of you participate in an NCAA pool? By the looks of estimates on office pools from a lot of you do: 48 percent of workers participate in the NCAA men’s basketball tournament In Deal or No Deal: Gambling With Math! I explained […]

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Roundup: Identity Theft, March Madness and Gas Prices

Posted by Madison on March 15, 2008

In the News The IRS spent $42 Million Just to Mail Out Tax Rebate Reminder Letter. $42 million to announce something most of us already know from watching the news? There’s also new money on the horizon. Check out the New Five Dollar Bill or the New 100 Dollar Bill. Identity Theft A reader, Cindy, […]

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