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Choosing an ETF versus an Index Fund For Your Long Term Investments

By Erik Folgate

The ETF (Exchange Traded Fund): The ETF seems like it was created for those active traders that like the way mutual funds perform, but they hated the way they traded.

Liquidity: The ETF is very liquid. It trades like a regular, single stock. Whereas, a mutual fund can only be traded once a day. If you sell a mutual fund, you get the price that it ends in at the end of the day. Active traders that trade on a margin or short sell like the ETF and the way its liquidity.

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Understanding the Move That The Fed Made Last Week

By Erik Folgate

If you’re still confused about what the Fed did last week to supposedly “buy the economy some time” from going into a recession, then check out this article from Kiplinger’s Online. Kiplinger’s does a good job of answering the most frequently asked questions that may be on your mind about what the Fed actually did by cutting the discount rate and what it means to the economy and to us.

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Get Green Friendly by Viewing and Paying Bills Online

By Erik Folgate

Sanda Block, a personal finance columnist for USA Today, wrote this article about the environmental advantages of viewing and paying your bills online. There are many environmentally friendly things you can do such as recycling, using less utilities energy, and carpooling to work. Some changes are more sacrificial than others, but this one is effortless. Many large companies are now giving you the option to receive your monthly statements and bills online. Once the monthly statement is ready, you’ll receive an email in your inbox stating that your monthly statement is ready to view. Block’s column talks about how many people pay their bills online, but they still receive a hard copy of their statement in the mail. If you are one of those people that keeps every document that is sent to you, you can still save a copy of it on your hard drive. If you’re paranoid about saving important documentation on your computer, than you can print a copy of it, and you’ll still be helping out the environment by saving on fuel costs. It was one less thing for the post office to deliver.

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Democrats Weigh In On Solutions to Cleaning Up Mortgage Industry

By Erik Folgate

The Democrats are now diving into the discussion about cleaning up the mortgage industry and subprime lending. I’ve written quite a bit about the importance of avoiding the curse of being house poor. The rising foreclosure rate is due to two major factors. Mortgage lenders are loosely regulated and consumers made uneducated, selfish financial decisions. So now it’s the democrats to the rescue! I read the article from CNN Money, and i was a little surprised to see that I actually liked some of their ideas. I am definitely about capitalism, but financial agents need to have a fiduciary duty to their customers. It should not matter if it’s an insurance agent, mortgage lender, or stock broker. Christopher Dodd proposed these ideas to help regulate the subprime industry:

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Techniques to Avoid Foreclosure On Your House

By Erik Folgate

You’ve seen all of the articles and news segments about the skyrocketing percentage of homes going into foreclosure around the country. It’s not hard to figure out why the foreclosure rate has risen so drastically. Mortgage lenders took advantage of buyers, and buyers threw away all logic and reasoning when figuring out how much house they could afford. However, looking back at the past will not get us anywhere. The damage is done and now this country needs to clean up the housing market mess. Ask someone who has gone through a foreclosure how much fun it was. They will most likely tell you that it was an extremely emotionally draining time period in their life. Losing your home is a nightmare come true. However, there are ways to avoid the full foreclosure process. Here are two options to consider if you’ve found yourself in a position where you can’t pay your mortgage payment.

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Consumer Debt is Out of Control, So What Are You Going To Do About It?

By Erik Folgate

This article from Ken Bensinger from Smart Money, is refreshing to read knowing that other people are getting the hint that consumer debt is out of control. The part that I found most interesting is that he points out that so many Americans fall into the trap of paying off debt with more debt. The idea of refinancing a mortgage to roll debt into your mortgage or buying a HELOC to pay off credit cards or students loans is not solving the problem. Credit consolidation companies don’t solve the problem either. They help your situation, but they don’t solve your problem. If you’re swimming in debt that you can’t handle, the problem is YOU.

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George Monbiot’s Perspective About Green Consumerism

By Erik Folgate

Check out this article on consumerist.com about an interview with George Monbiot’s perspective on ethical shopping.

I think he hits the nail on the head and he says that trendy “green” consumerism is doing nothing more than dividing shopping into ethical products and unethical products, but it doesn’t actually do anything to help the environment. Doesn’t it seem like so much activism these days comes down to what he is saying? It ends up being more about the political statement rather than the actual cause.

Fed Does The Right Thing By Keeping Rates Steady

By Erik Folgate

For the latest statement by the Fed and a summary of their meeting, read this article by CNN Money.

The Fed met today, and for the first time in a year, they did not raise the interest rates. I think this is a smart move by the Fed. This shows that they are confident in our economy and the steady, consistent growth it has shown in the past few years. It is unprecedented that our economy has survived the most gruesome terrorist attack in American History, record oil prices, and a housing bubble that swelled up to the size of a hot air balloon and popped faster than you could say, “Do you want to buy my house?”. Much of this has to do with the Bush tax cuts that were put into effect in 2003. The tax revenue has been up, more jobs created, and more disposable income for consumers to save and spend.

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What To Do When Your Budget Does Not Cover All of Your Expenses

By Erik Folgate

You don’t need to feel ashamed or down on your luck if your budget is busted. You’ve taken the first step to financial recovery if you’ve taken the time to write down a budget and stick to it. Here are a few tips on what to do when your budget doesn’t cover all of your expenses.

Prioritize Your Life and Money

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Stay Away From The “90 Days, Same As Cash” Trap

By Erik Folgate

So you go out one weekend to look at furniture. That couch with the funky smell and the 1970′s style dining room table just aren’t cutting it anymore. You don’t really have the money to spend on new furniture, but you deserve it, right? You walk into the furniture store to the smell of fresh popcorn and oven-baked cookies, two of the most alluring smells on earth. You go and get yourself a snack and you start browing around the store with no real intent on buying anything today.

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Reduce The Risk In Your Life to Lower Insurance Costs

By Erik Folgate

If you’re like me, then insurance costs are becoming quite a problem for your monthly budget. I live in Florida, and it seems like the insurance rates continue to rise and there is no sign of it stopping. You can call me conservative or republican, but I support individuals taking the initiative to help the problem of rising insurance costs rather than waiting for the government to do something about it. Insurance companies reward those people and those real properties that are less of a risk to them. Here are some ideas that I conjured up for how you can save money on your insurance premiums by reducing the risk in your life.

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Changing The Way You Think About Money Management

By Erik Folgate

At Money Crashers, there are two main goals that I am trying to achieve:

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  1. Educate and inform you about managing money, investing, buying insurance, and spending wisely.
  2. Help you change your personal financial behavior.

Do You Need Disability Insurance?

By Erik Folgate

The Answer is YES! Here’s the good news and the bad news about disability insurance.

The Bad News:

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  • Disability insurance is one of the most overlooked insurance coverages in America. We all think we’re invincible, and that will never happen to us. But let’s get real, people go blind, deaf, get paralyzed, or contract certain diseases every day that disable them from doing the job that they are equipped to do.
  • We have a lot of pride on our hearts. Pride might prevent you from buying disability insurance. You need to be realistic with yourself, especially if your job is a little more risky than others.

Six Quick Tips To Spend Less On Entertainment and Travel

By Erik Folgate

If you’re like me, you love getting a deal whether it’s on something you’re buying or some kind of event. If I had to choose, I would much rather spend money on doing something or going somewhere rather than buying the newest product. I love to travel and I love going to concerts, sporting events, and the theater. Here are six tips that have helped me score a discount on entertainment and travel:

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  • Bring Your Student ID or AAA card everywhere you go. You’ll be surprised how many places give student discounts. If you’re not a student, then join an organization like AAA. You can always find a hotel, airlines, or even museums that will give you discounts for being a member.

Get Rid of Those Annoying Credit Card and Insurance Offers

By Erik Folgate

If you are like me, then you dread opening up your mailbox to find about 15 pieces of mail and only one or two of those pieces of mail has any real significance. The rest of it is, “0% financing, pre-approved for ultra, hot, sexy, platinum visa card” or “Tired of your insurance rates? Get a free quote with “. The spam mail is getting ridiculous. I’ve heard a statistic that over 4 billion credit card apps are sent out per year. It may even be more than that.

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The content on Money Crashers 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.
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