About · Press · Contact · Write For Us · Top Personal Finance Blogs
Featured In:

Seven Ways to Save Your House From Foreclosure

By Erik Folgate

If you haven’t already noticed, the housing market is correcting itself right now. That’s what capitalistic markets do, they correct themselves. The government has intervened a little bit, but for the most part, you are seeing the housing market fix itself. Unfortunately, thousands of hard-working citizens are losing their homes. They bought during the boom, might have stumbled into a mortgage they didn’t understand, or they wanted to upgrade their house, but really couldn’t afford the new payment. Foreclosure is all over the place in states like Florida, Nevada, California, an New York. I live in Florida, and I can literally open up the newspaper and find hundreds of foreclosures every weekend. So, here are ten ways that I think you can save your house and avoid foreclosure. Some of these might seem out of reach, but it’s still an option.

Click to continue reading...

First-Time Homeowners, Consider Buying in 2008

By Erik Folgate

We all know that the housing market has crashed, and it is working to correct itself from the housing boom. Unfortunately, foreclosures and falling home prices are the result of the market correcting itself. However, as prices fall in your area and sellers become more desperate to dump the home they bought a few years ago at an extra-premium price, a great opportunity is being created for young couples and single professionals looking to buy their first home. Suze Orman writes an article about the opportunities for first-time buyers right now. She gives first-time buyers five tips for finding their first home. Let’s take a look at them.

Click to continue reading...

The Fastest Way to Receive Your Economic Stimulus Refund Check

By Erik Folgate

If you stumbled across this site from a google search for information about the economic stimulus payment, be sure to subscribe to my RSS feed, read about me, and introduce yourself to what this site is all about by reading about my 11 principles.

If you are one of the prompt ones that will be filing your taxes before the April 15th deadline, but have not done it yet, be sure to sign up for direct deposit of your tax refund if possible. According to Fox Business News and the IRS, if you had or will have your 2007 tax refund direct deposited into your account, you will be one of the first to receive your economic stimulus checks! Here is the breakdown of when the money should reach your account based on social security number.

If the last two digits in your social security number ends with:

Click to continue reading...

Take Advantage of Free e-File For Your Tax Return

By Erik Folgate

April 15th is 27 days away, and I can actually hear some of you clenching your teeth right now at the thought of it. Isn’t ridiculous that doing your taxes takes such a big chunk out of our free time? One of the few good things the IRS has ever done for us is partner up with companies to offer free e-filing for middle class taxpayers. If you made less than $54,000 adjusted gross income in 2007, you can qualify for free e-filing.

Click to continue reading...

Treat Your Money Management Philosophy Like A Marathon

By Erik Folgate

I didn’t run a marathon last weekend, but it felt like it for someone who has never trained for long-distance running until this past January. I always played basketball when I was young, and basketball is a series of fast sprints, not methodical long-distance running. I ran in the Gate River 15k Run here in Jacksonville, which is a pretty well-known 15k run. I didn’t run it to compete, I ran it because I had never done something like that before, and I wanted to say that I had done it. I ran it in about an hour and 40 minutes, which is pretty slow, but I was proud of myself for jogging the whole time. Like the personal finance nerd that I am, I was thinking about how running long distances relates to becoming wealthy. The obvious cliche is that becoming wealthy is like running a marathon. The slow, methodical individual will become more wealthy than those that have short spurts of wealth building over a period of time. But, there was something else that I learned about money management when training for and running a long distance.

Click to continue reading...

The Importance of Helping Each Other With Financial Problems

By Erik Folgate

I was reading this article by Jeffrey Strain from TheStreet.com and he gives five ways to help other people with financial issues from your own personal experiences with managing your money. One of the things he listed was starting a personal finance blog. This is what I did two years ago, and my goal was not to act like I knew everything about money and I wanted other people to know it, but I had a revelation about money. I made a 180 degree change about the way I managed money, and I wanted to share that with other people. My goal for this blog is not to see how much money I can make from it, if that was my main reason, I would have stopped a long time ago. My goal is to help other people with the things I have learned about money and research the things you want to know about. So, if you do learn anything here, please don’t keep it to yourself. Share it with someone else. With the housing market going down the drain, gas prices continuing to rise, and the economy on the verge of a recession, people need help with their money!

Click to continue reading...

Financial Question Of The Day: Do you prefer index funds or mutual funds?

By Erik Folgate

Do You prefer investing with index funds or mutual funds?

Some of you might not have an opinion about this, either because you haven’t started to seriously invest, or you’re not financially nerdy enough to care. But, I’ve found that personal finance advisors and bloggers differ quite a bit on this issue.

Click to continue reading...

Received A Notice From The IRS About the Economic Stimulus Refund Checks

By Erik Folgate

Do you like the information on this blog? Be sure to subscribe to our feed to receive updates on new articles.

After a lot of speculation. the IRS has finally sent out an official notice that cleared up a couple of questions people were having about the economic stimulus refund checks. I was right about everything that I had wrote about the checks, but it’s always nice to be reinforced about information you read about by the people that will be sending out the checks, the IRS. If you haven’t received the notice in the mail yet, don’t freak out. It doesn’t mean that you aren’t going to receive a check. It just means that it takes a while for them to send out $130 million letters. Here is some information that was confirmed in their letter.

Click to continue reading...

An Analysis on the Seven Baby Steps for Obtaining Wealth by Dave Ramsey

By Erik Folgate

If you are a regular reader of this blog, then you know that I am a supporter of the teachings of Dave Ramsey. There are many bloggers out there who think that Dave Ramsey has too much of an “emotional” approach to personal finance and neglects the math behind personal finance. There is some truth to that, but Ramsey doesn’t ignore the math. He embraces the premise that he believes that 80% of personal finance is behavior-based and 20% is about the numbers. A group of personal finance bloggers have analyzed the seven baby steps that Ramsey teaches for becoming wealthy. I thought that I would pass the links on to you to get their take on each step.

Click to continue reading...

What I’ve Learned About Saving Money On My Pet

By Erik Folgate

Many personal finance bloggers have written great articles about the cost of owning a pet and ways to save money when owning a pet. I didn’t realize how much it really does cost to own a medium-sized dog. For one thing, if you don’t have children, that pet becomes like your child, so you tend to spend a little bit more money on them than usual. I don’t think there’s anything wrong with spoiling a family pet if you can afford it. I thought that you might be interested in ways that we have saved money on our dog by using common sense and practicing good preventative care. Here are some ways that we feel we’ve saved money in the long run on pet care.

Click to continue reading...

Financial Literacy Grant Program Proposed by The Senate

By Erik Folgate

Consumerism Commentary reported on a financial literacy education program that would allocate $250 million dollars a year toward personal finance education in the K through 12 public school system and public colleges. The bill would provide grants to schools that want to implement the education program, but it might require that the school make it a required class for graduation. I agree with Flexo that it shouldn’t be a required course that replaces the other core classes. I know that in Florida you are required as a senior to take a semester of American Government and a semester of American Economics for graduation. I think the most logical thing to do would be to use the grant money for training economics teachers to implement the persoanl finance education into their existing course and also use the materials for teaching materials.

Click to continue reading...

How I Evaluate A Mutual Fund Before Investing In It

By Erik Folgate

I have five things that I look for when evaluating a mutual fund to see if I want to invest in it. I’ll outline the five criteria that I look for when evaluating a mutual fund to know if I should invest in it. Here are those five criteria:

Click to continue reading...

I Am Feeling The Squeeze of Rising Gas Prices

By Erik Folgate

My wife is currently doing a clinical rotation for physician assistant school in Orlando. She has to drive 30 miles each way from her parent’s house to the hospital. We budgeted out $150 dollars for her to get through two weeks, but now I am starting to rethink that budget amount. She is going through stop-and-go traffic and she’s driving an SUV. The price of gas in Jacksonville is currently right at the national average of about $3.25 a gallon. I get paid for all company mileage that I accrue each month, so it typically pays for my car, gas, and maintenance. So, this is probably the first month in a long time that we will start feeling the squeeze of rising gas prices that could get to $4.00 a gallon.

Click to continue reading...

Updates On the United States Economy

By Erik Folgate

This is a quote and text from a USA Today article published today:

President Bush said Thursday he doesn’t think the country is heading into a recession, but “there’s no question the economy has slowed down.” “There’s a lot of uncertainty and I’m concerned about the uncertainty,” he said. “Hopefully this pro-growth package will help.”

Here are some quotes from Bernanke, the chairman of the Fed and text from this USA Today article.

Click to continue reading...

An Interview With Flexo from Consumerism Commentary

By Erik Folgate

Recently, I did a brief interview with personal finance blogger, Flexo from Consumerism Commentary. It’s my intention to get to know some of the other personal finance bloggers out there, and I wanted you to get to know them better as well. I don’t see the other bloggers out there as competition, but rather I see them as a community of people that share the same goals and values as me when it comes to helping others manage their finances better. We can all learn from each other, and that’s my goal with interviewing other bloggers in the personal finance community.

Click to continue reading...

The content on MoneyCrashers.com is for informational and educational purposes only and should not be construed as professional financial advice. Should you need such advice, consult a licensed financial or tax advisor. References to products, offers, and rates from third party sites often change. While we do our best to keep these updated, numbers stated on this site may differ from actual numbers. We may have financial relationships with some of the companies mentioned on this website. Among other things, we may receive free products, services, and/or monetary compensation in exchange for featured placement of sponsored products or services. We strive to write accurate and genuine reviews and articles, and all views and opinions expressed are solely those of the authors.

Advertiser Disclosure: The credit card offers that appear on this site are from credit card companies from which MoneyCrashers.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. MoneyCrashers.com does not include all credit card companies or all available credit card offers, although best efforts are made to include a comprehensive list of offers regardless of compensation. Advertiser partners include American Express, U.S. Bank, and Barclaycard, among others.