Should I Cash Out My 403b Account To Pay Off Debt?
November 18, 2009 by Erik Folgate
Filed under Credit and Debt, Money Management
Help a reader with this question:
I currently have a 403b with about $20k in it. I am planning on leaving my job late April and was previously planning on moving the money somewhere else. However, I owe a family member $15k for a car they bought me almost 5 years ago. I did not pay them back yet because we have been working on paying off all of our other debts (which we have paid them all off!), and the family member was not charging me interest or asking for the money back. So this $15k (and our mortgage) is the only thing holding us back from being debt free. Would it be wise to consider pulling the money out of the 403b when I leave my job, paying the taxes, and then giving my family member the money to pay off the debt? Then I was thinking about opening a Roth IRA with any remaining money since I think we can get down to owing the family member $10k by the time I leave my job.
Black Friday Information and Resources
November 17, 2009 by Erik Folgate
Filed under Shopping
Black Friday isn’t for everyone, but for some of us, it’s the first fun event of the Christmas season. If you treat it like a family event or something fun to do with friends, you’ll have a much better time than treating it like a chore. The one thing I can’t stand about Black Friday is when I hear stories about people getting hurt trying to reach for the Nintendo Wii or whatever. This is absurd, people! It’s just stuff! Have some fun shopping, and if you score a great deal or a door buster, be happy, but don’t turn into a pack of wolves trying to get a door buster.
Best Of Personal Finance Articles in 2nd Week of November
November 14, 2009 by Erik Folgate
Filed under Financial Links
If you’re new to learning about personal finance or you spend most of your time on the internet shopping or playing games, I encourage you to check out all of the great personal finance blogs around the internet. There are hundreds, maybe even thousands, so that’s why I like to highlight some of the ones that I read and stay involved in on a regular basis.
- Bargaineering explains how you can save money by canceling your cable TV. I really like this idea, and it’s becoming a lot easier with internet TV like Hulu and a-la-carte buying on iTunes, but for a sports guy like me, I want access to live football and basketball games.
Earn Extra Money By Getting A Job Over The Holidays
November 12, 2009 by Erik Folgate
Filed under Careers
The past 14 months have been one of the hardest time period for Americans looking to find work. The recession will not be over until the unemployment rate stops rising and starts receding again. Our economy cannot flourish without people contributing to the workforce and making enough money to put it back into the economy. I came across this article on Career Builder the other day revealing 10 companies hiring for the holidays
AT&T
Industry: Communications
Number of openings: 1000+
Seasonal positions available: Retail sales associates; store managers; and sales support
Location: Nationwide
How to Save Money While Vacationing In A Big City
November 11, 2009 by Erik Folgate
Filed under Frugality
My wife and I just got back from a trip to Chicago. I surprised her for her birthday and took her to the Windy City for four days. We have a best friend that just moved there, so that was part of the reason for picking Chicago to visit. Visiting big cities can be really pricey, because hotels, eating out, and entertainment are usually very expensive. We didn’t go frugal on this trip, but there were certain things we did that helped us save some money during the trip.
Use The Entertainment Book
Is Your Car Payment Destroying Your Life?
November 4, 2009 by Erik Folgate
Filed under Cars
You’ve heard me get on my soap box in the past about car payments and how they can soak up a lot of your monthly income. I really don’t like car payments, and I don’t think you need one to have a reliable car that serves your transportation purposes. As Americans, we’re obsessed with having nice, new cars. We have been taught from a young age that car payments are inevitable. You buy a car on credit, you pay the payment for five years, then you sell it. Follow that cycle, and you’ll actually never own a car outright. Here is an email that I received from a reader recently.
7 Home Improvements To Increase Its Value
November 3, 2009 by Erik Folgate
Filed under Real Estate
For the most part, the real estate markets around the country have flattened out, and homeowners are breathing a tentative sigh of relief. So, where do homeowners go from here? It will be a while before we start to see home values appreciate on their own, because demand will need to drastically increase before that happens. So, if you want to increase the value of your home, you’ll need to do it the old-fashioned way. Here are seven ways to improve home’s value.
Leadership Lessons From Truett Cathy, Founder of Chick-fil-A
October 29, 2009 by Erik Folgate
Filed under Careers
Tonight I went with my wife to an event called “Live, Love, Lead” put on by Chick-fil-A and the entire Cathy family was there. It was a great event, and it was done very well. Like anything done by Chick-fil-A, it was done with class. I’m a big fan of the company, because I love their commitment to serving others and their out-of-ordinary business practices like closing on Sunday and choosing high-quality and high-character franchise owners and employees. The event focused on three main concepts: Your physical health, your marriage health, and your leadership skills. Here are some highlights and lessons that I took from the event.
3 Reasons Why You Shoud Avoid Bankruptcy
October 28, 2009 by Erik Folgate
Filed under Bankruptcy, Money Management
I listen to the Dave Ramsey Radio Show every once in a while on my way home from work, and one of the most common topics I hear from callers is the question about bankruptcy. So many people call in for advice about whether or not they should file for bankruptcy. Ramsey, having gone through a very messy bankruptcy himself 20 years ago, almost always talks people out of filing for bankruptcy. There are some cases where bankruptcy is the only option, but after listening to his show for a while now, I’ve realized that bankruptcy doesn’t need to be the first option for someone in serious financial trouble.
10 High Paying Jobs That Don’t Require An Undergraduate Degree
October 27, 2009 by Erik Folgate
Filed under Careers
We’re going through one of the tougher recessions in the past few decades, and jobs are very hard to find. Going to school for four years and paying for four years of undergraduate schooling is not on the minds of very many people right now. Survival mode is more on your minds, and one of the biggest misconceptions about finding a career that pays a lot of money is that you MUST have at least a bachelor’s degree. This is simply not true. There are thousands of careers that pay very well and do require schooling or an apprenticeship, but this is more like one to two years, rather than four. Some jobs just require you to have a great sales personality, the determination to succeed, and a certification/license. This article from Yahoo Finance caught my eye about the top 10 high paying jobs that don’t require a degree., and I want to share it with you.
