Money

What Is A Ponzi Scheme – In Simple Terms

by Glen Craig

With all of the talk about Bernie Madoff heading off to jail for a few years (a century or so) the thought on a lot of people’s minds is How did he do it? and What is a Ponzi scheme? I came across the post Explaining the Ponzi Scheme to a Fifth Grader recently.  I [...]

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Is Saving 8 to 12 Months Expenses Even Possible Or Practical?

by Glen Craig

I recently brought up the question of whether we now need 8-12 months expenses saved rather than the old three to six months that used to be convention. I think in these economic times, where we are seeing unemployment hitting rates we haven’t seen in decades, that three to six months isn’t enough. I received [...]

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Is 8 To 12 The New 3 To 6?

by Glen Craig

Old wisdom said we should have three to six months of expenses in savings in case you were laid off or lost your job for some reason.  On average it took that time frame to find another job so you would have enough put away to get by in the meantime. But times are different [...]

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Using Google Calendar To Pay Bills On Time

by Glen Craig

Have you ever realized you had a bill sitting around that was due today? Or worse, yesterday?  If you are lucky you can pay the bill online but that’s not always an option (I’ve found that some companies have a cut-off time). There was a time when I had a lot of credit card debt.  [...]

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We Put Our Co-op On the Market! And Other Excitement

by Glen Craig

It’s exciting times in the Free From Broke household! Just yesterday we had a Realtor come over to go through the process of putting our co-op apartment for sale on the market.  After a lot of hoping and saving we think it’s finally time to sell and try to upgrade to a house.  Over the [...]

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Obama’s $275 Billion Housing Crisis Plan

by Glen Craig

President Obama announced a $275 billion plan that would help homeowners, as many as 9 million, refinance or re-negotiate their home loans. Said President Obama “This plan will not save every home, but it will give millions of families resigned to financial ruin a chance to rebuild…It will prevent the worst consequences of this crisis [...]

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You Are Richer Than You Think

by Glen Craig

Raise your hand if you worry about your finances at all. Ok, I can’t see your hands through the computer but I’m guessing most of us worry about our personal finances from time to time (or even all the time).  I won’t lie to you, it’s tough taking care of everything and keeping a family [...]

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If You Were Rich How Frugal Would You Be?

by Glen Craig

We recently had a Mega Millions lottery here in New York that was in excess of $200 million. That’s quite a few lattes!!  Whenever the lottery gets up that high I daydream a bit and think about what I would do with that much money.  Where would I live and what kind of house?  What [...]

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Is It The Right Time To Buy A House?

by Glen Craig

The long spell of inflated house prices seems to be coming to an end.  Mortgage rates are getting lower.  Is it the right time to buy a house?!? A recent NY Times article suggests that it may be a good time.  The article mentions that this could be the buying opportunity of a lifetime.  The [...]

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8 Ways The Economic Crisis Can Be Good For You

by Glen Craig

Times are tough out there.  The economy is at the forefront of the news every day.  Companies that were believed to be stalwarts are turning out to be broke.  Many are saying this is the worst the economy as been since the Great Depression.  Is there a silver lining to this economy?!? Yes. 8 Ways [...]

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