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Articles posted in August 2007

Finding A Fix: 10 Tips For Resolving Financial Disputes
August 30, 2007 by Rachel
Account and billing mistakes are a reality of personal finances. From the cable bill to the credit card statement, at some point, errors will occur. These errors, even the small ones, become financial disputes that must be resolved. Handling these financial disputes effectively is a skill that can and should be learned. Certainly, each dispute is unique and it must be handled accordingly. These tips, however, will provide some general guidelines for getting a satisfactory result, no matter what ...
Carnival of Smart Money #1
August 28, 2007 by Ryan
Welcome to the August 28, 2007 edition of carnival of smart money. This is the first edition, and we had a great response. We have selected 45 articles from over 80 submissions. Thanks all, see you next round! Moneywalks presents 6 Ways to get Rich posted at moneywalks. Sagar Satapathy presents All You Need is Love and a Good Financial Plan: 17 Finance Tips from the Beatles posted at Credit Card Lowdown, saying, "When you’re in need of a little financial pick-me-up, who do ...
Saving money without calling names
August 27, 2007 by Rachel
During the 1970's, an interesting experiment began in the consumer goods industry. Generic products were sold as an alternative to more well-known, more expensive "branded" products. Early generic products were EASILY recognized by their plain packaging and limited availability. The American Heritage Dictionary definition of generic read "general; not having a trademark or brand name". To some people, generic simply meant boring! Regardless of their packaging (or lack thereof), the idea of selling products comparable to the national brands ...
The End of the Paper Check Path (a financial fairy tale)
August 23, 2007 by Rachel
   Once upon at time in the United States of America, there were small rectangular pieces of paper called checks.  Officially, a check was "A negotiable instrument drawn against deposited funds, to pay a specified amount of money to a specific person upon demand."  Paper checks were numbered, bound in books and issued by banks.  Before issuing checks, banks required customers to set up a checking account and deposit money in it.    Many citizens used checking accounts as the primary ...
BOOK REVIEW: Money, A Memoir: Women, Emotions and Cash
August 20, 2007 by Rachel
Money, A Memoir:  Women, Emotions and Cash By Liz Perle www.moneyamemoir.com    For many people, money is about the bottom line - nothing more, nothing less.  For Liz Perle, money was about acceptance and security.   In her latest book, Money, A Memoir: Women, Emotions and Cash, Perle describes her personal relationship to money and relates her experiences to the money relationships of women in general.    Starting in her childhood, Perle takes the reader through her "money" life and ...
Where should children save money?
August 16, 2007 by Rachel
NOTE:  This post addresses general savings options, NOT educational savings options.  Educational savings options will be covered in a later post.     Parents are responsible for teaching their children LOTS of things!  One of the major things children have to learn and understand is FINANCES.  In particular, children need to understand the importance of saving and "growing" money.  Not growing it on a tree, mind you, but growing it through budgeting and making wise choices.  Before parents can teach their ...
Put your article here…
August 14, 2007 by Rachel
If you have an article that you would like to have featured on My Money Thinks, submit it for our blog carnival consideration.  We are accepting articles related to all areas of personal finance and we want to read what you have written. SUBMISSION DEADLINE: Saturday, August 25, 2007 Links to accepted articles will be posted on Tuesday, August 28, 2007  ALL submissions should be sent to http://blogcarnival.com/bc/cprof_2240.html We cannot wait to hear from ...
Get interested in “getting” interest
August 13, 2007 by Rachel
   Are you one of those people that is not interested in interest?  If so, you might want to get interested.  Not just in earning interest but in "getting" (understanding) it also!  Whether you realize it or not, you have an interest in interest.  It affects your mortgage, your car loan, your unsecured debt and your investments.  Interest affects your cash flow and, thus, your daily life.  The concept of interest is not a difficult one to understand.  The application ...
Money can be flexible
August 9, 2007 by Rachel
   If you knew that you could reduce your tax burden legally and simply would you?  If your employer offers a Flexible Spending Account as part of your benefit package, you can do just that!    Flexible Spending Accounts (FSAs) are also referred to as "reimbursement accounts" or "flexible spending arrangements".  These accounts allow employees to deposit money from their paychecks into a spending account that is used to pay for out of pocket medical expenses.  FSAs are governed by the ...
OSAs are MVPs
August 6, 2007 by Rachel
   In spite of a number of "doom and gloom" reports regarding the poor savings habits (or lack thereof) of Americans, consumers cannot complain about the availability of high-yield savings options.  The majority of those high-yield accounts are provided via the Internet in online (or "virtual") banks.    Online banking has origins that go back three decades.  Telephone banking was the 1st option for customer controlled, at home management of bank accounts.  The beginning of online banking, as we recognize it ...