Personal Finance Advice for Teachers

If . . . For Teachers

September 20, 2011 · 0 comments

If you have read the about Jeff tab, you will know that I am related to a BUNCH of teachers. My paternal grandmother was an English professor at a small college in Blue Mountain, Mississippi. She loved the English language and especially poetry. My mother found some of her papers the other day and I found this poem. She did not write it, but it really shows what she believed makes a good teacher teacher.

If . . . For Teachers

If, as a teacher, I could be
Patient, just, understanding and free . . .
Free to study, to learn and to teach
That God is never out of reach.

If, as a teacher, I could know
Some will learn fast, some learn slow;
And that this will little matter
If their confidence I don’t shatter.

If, as a teacher, I could show
Some little child how to grow,
In faith, in love and in grace,
And to meet the world with smiling face.

If, as a teacher, I could just be
More, oh more, Master like Thee.

–By Ann Tibbels Young

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Sunday Book Review – America’s Cheapest Family

September 18, 2011 · 0 comments

in Sunday Book Reviews

This week in the Sunday book review is: “>America’s Cheapest Family Gets You Right on the Money: Your Guide to Living Better, Spending Less, and Cashing in on Your Dreams by Steve and Annette Economides. Interesting last name to call yourself and your family the cheapest family in America.

The only thing that I can say after reading this book is – wow! They have taken saving to a whole new level. They have 5 children, no debt and they pay cash for everything! Their frugality was born out of necessity. After their first wedding anniversary they had one child and Steve was only earning $7 per hour. He had grown up with the “no debt” philosophy so naturally, debt was not even a thought.

This book contains some of their best “cheap tricks” . How about being able to grocery shop one time per month, spend $350 (including paper goods and cleaning supplies) and feed 7 people? Yup – that is exactly what they do. Honestly it is amazing when I think about what my wife and I spend on groceries per month.

Even if you cannot use every tip in the book, you will be surprised about how much you can save using only a couple. This is a must read for anyone that wants/needs to be more frugal and have more money at the end of the month. Enjoy!

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Four Financial Reasons to Become a Teacher

September 14, 2011 · 0 comments

in Just for Teachers,Your Money

No, I am not joking. There are actually financial benefits to becoming a teacher. To those not familiar with the “teacher lifestyle” they think that it is all low pay, Summers off and bunches of holidays. Let’s face it, those are true, but here are 4 financial reasons to become a teacher that you might not have thought of. [Read full post . . .]

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Stay in Control of Your Money

September 12, 2011 · 0 comments

in Your Money

I was reading another blog the other day and I came across an awesome post about different ways to think about your money and your spending. Your money, spending and saving is much more than a physical thing. There is a bunch of psychology that goes on “behind the scenes” in your mind.

Some of the thinking that you have about money, spending and saving comes from your parents. Some comes from friends and acquaintances. But much comes from your experiences. The article The Importance of Control is very interesting and it details some new ways to think about your money. Enjoy!

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Some Great Personal Finance Reading – Enjoy!

September 11, 2011 · 0 comments

in Sunday Book Reviews

Despite all of the personal finance information on the web, sometimes there is just no replacement for a good book. Heard that before? Any way, about once per month I will publish some of the personal finance related books that either I come across or someone else has recommended. Happy reading!

Let’s Get Real About Money! – Eric Tyson
Worried about money? Join the club. Now, do something about it! One of America’s best-selling personal finance authors offers real, practical solutions that work: steps you can take right now to start replacing money anxiety with financial fulfillment and happiness. Eric Tyson gets straight to the point, identifying the habits that put you at risk–and helping you replace them with the habits of financial success. Tyson offers plain-English, no-gimmick techniques you can really use: knowledge you’d have to pay a fortune for, if you could get it at all!

Financial success doesn’t just “happen”: it’s determined by your financial habits. Fortunately, you can develop good financial habits–and systematically eliminate the bad ones that stand in your way. Eric Tyson will show you how–step-by-step and hands-on.

A reader’s review:
I have purchased several books by Eric Tyson, and this is his best. Eric Tyson provides you with a concise way to handle your personal finances. After reading this book you will not need to purchase another personal finance book from another person. This book also teaches you how to invest in quality mutual funds.Tyson is the best personal finance author out there.Tyson also talks about investing in your personal health. If you purchase this book you will never be the same.

The Wealthy Barber, Everyone’s Commonsense Guide to Becoming Financially Independent
In this new and updated edition of one of the biggest-selling financial-planning books ever, David Chilton simplifies the complex puzzles of personal finance and helps you achieve financial independence. With the help of his fictional barber, Roy, and a large dose of humor, Chilton shows you how to take control of your financial future–slowly, steadily, and with sure success. Chilton’s plan (detailed in an entertaining story) is no get-rich-quick scheme, but it does make financial independence possible on nothing more than an average salary. Even if you consider yourself a financial “basket case,” Chilton explains how you can easily put an effective financial plan into action.

A reader’s review:
The Wealthy Barber has been a treasured resource in my household since the first edition. It was given to each child, cousin, grandchild, etc., in their mid-to-late teens, and to anyone else who needed remedial help in understanding the basics of starting a financially sound life. While written in a fairly goofy style, the stories and characters make it a bit more palatable than a textbook, especially for youngsters. And it doesn’t get into complex issues or try to sell you anything (a la Motley Fool) — it simply provides a great starting point — and if it were the only book you ever read on finance, it would be enough. I highly recommend this for all teenagers, college students, young newlyweds, or anyone else who needs to start at the very beginning.

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The Secret Visa Code 10 Call

September 7, 2011 · 0 comments

in Credit,Debt

Why You Don’t Want to Hear it When You Are Checking-Out

This is another article in a series that comes (here is the first article about Visa fraud profiling) from the Visa “Card Acceptance Guidelines for Visa Merchants” that I found on the Visa site. This guide is very interesting and I have learned some very interesting policies for the credit card company.

The Code 10 call is a call to Visa that merchants can make when they see suspect that something is suspicious about the cardholder, the card or the transaction. The suspicions acts by the cardholder are found in the section of the manual which details ***what suspicious behaviors*** they should be looking for. They use the name Code 10 so as not to alert you that you think that anything is wrong. They are instructed to say “I have a Code 10 authorization request”.

Here are the steps that they train the merchants to follow when making the Code 10 calls:

Keep the card in your possession during the call
Call Visa voice authorization center and say “I have a Code 10 authorization request”. The operator that answers will ask you a series or “Yes” and “No” questions.
When transferred to the special operator, answer all questions calmly and a normal tone of voice.
Follow all of their special operators instructions.
If the operator tells you to keep the card and not give it back to the customer do so only if you can do it via reasonable and peaceful means.

Years ago, if you were able to secure the card and send it back to Visa, they would give the cashier a $25 reward. I believe that they still do. Interesting . . .

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Debt Collection Letters – What you Should Know

August 30, 2011 · 0 comments

in Credit,Debt

Debt collection letters – the mail that no one wants to get.

Believe it or not, the companies that send these debt collection letters hate sending them as much as you hate receiving them. It’s costing them money to collect their that you (most of the time) owe them. No matter who youare, chances are that you will, at some time in your life receive one. It might be that you forgot to pay a medical bill or have fallen behind for a month or two, but you will get the debt collection letter none-the-less.

While some of these letters look like they were just thrown together, most companies take them and the writing of them very seriously. There is a great amount of psychology and thought that go into writing a debt collection letter. Knowing a little about the thinking of the collectors when writing or sending debt collection letters might help you deal with them if you happen to get one. Here are some factors that collectors consider when creating and sending debt collection letter. [Read full post . . .]

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Going in Debt for Christmas – Just Don’t do it! Try this Instead!

August 23, 2011 · 0 comments

in Saving

Years and years ago, banks and credit unions had a service called a Christmas Club. During the year, when you deposited your paycheck, you could divert part of it to your Christmas Club account. It was basically just a savings account where you would pay a penalty if your withdrew your money before November or December. This was a very easy and painless way to make sure that you did not have to go into debt when you did your Christmas shopping.

You will be hard pressed to find a Christmas Club these days. Not sure why, but I am guessing that banks have gotten so big that a small savings account like that is not worth their time and trouble. Although it takes a little more discipline, you can make your own Christmas Club. [Read full post . . .]

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Student Loan Payments – What if I can’t Make them?

August 21, 2011 · 0 comments

in Credit,Debt

This post is about finding relief/help if you fall behind with your student loan payments or just cannot afford to pay them. There is more help available when you have federal based student loans such as Stafford and Grad PLUS loans; and that is the primary focus of this post.

For years, taking out student loans to fund your college education was a great idea and almost a “no-brainer”. After all, when you graduated, it was almost a guarantee that you would find a position that would pay enough so that you can timely make your student loan payments. That is not a guarantee now – you might not find a job at all. Or, you might find one that does not pay as much as you were expecting. [Read full post . . .]

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Are you Being Profiled for Credit Card Fraud?

August 14, 2011 · 0 comments

in Credit

Visa teaches sales clerks to profile you for potential credit card fraud

The other day, I read an article on the Kiplinger magazine web site about whether or not a merchant can require you to show your drivers license when you use their card (by the way, they cannot). They referenced a document on the Visa website. I could not find it,but I found another equally interesting document. It is called “Card Acceptance Guidelines for Visa Merchants”. Very interesting reading – for financial geeks that is. I am going to try and write several articles from this manual. This article is going to talk about the things that the manual teaches the merchants about how to detect fraud. Some of them make sense, but some just seem crazy. [Read full post . . .]