Friday, December 9, 2011

Money Market Rates 12/11

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

1.00% Discover Bank Online Savings
0.90% American Express High Yield Savings
0.90% Urban Partnership Bank Online Savings
0.89% Ally Bank Online Savings
0.85% ING Direct Orange Savings
0.80% HSBC Advance Online Savings
0.70% FNBO Direct Online Savings
0.40% Western FCU Money Market
0.15% E*TRADE Complete Savings
0.15% Chase Plus Savings
0.10% Citibank Savings Plus
0.10% Travis CU Flexible Money Market
0.06% Patelco CU Money Market Account

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates.

Rates are believed to be accurate as of 12/8/11. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. This month, I am adding two additional credit unions to the list so that readers have a comparison point to banks.

Discover Bank currently has the highest interest rate of 1.00% among the banks that I'm tracking. A one-time favorite, Ally Bank Online Savings has dropped a few positions in my list. Rounding out the bottom of this list are two credit unions, Travis CU, and Patelco CU. I question the motives of those who have encouraged others to transfer their money from banks to credit unions during Bank Transfer Day last month.

The credit unions on my list are on par with Citibank, which is really the bottom of the heap, as far as banks are concerned. However, Citibank does have a special promotion going on where you can get either $200 or $400 for opening a new Citi Checking Account. Of course, there are a few catches to this offer. First of all, you are required to set up direct deposit, and need to make electronic bill payments for at least two months. The Citibank account offers a $200 bonus, and the Citigold account offers a $400 bonus. While not a requirement to receive the bonus, you need to keep $6,000 ($15,000 after December 9, 2011) in the Citibank account to avoid a $20 monthly fee. And $50,000 is required to avoid a $30 monthly fee for the Citigold account. In spite of these potential fees, this bonus offer might be worthwhile for some depositors.

It seems that the general interest rate trend is down. I was especially disappointed that the interest rates for Citibank and Chase were so low. Since I still have significant funds in these institutions, I think that it is time for me to consider moving some money around to other institutions, but I won't be transferring the funds to a credit union.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

DC

Monday, December 5, 2011

TurboTax Offers Free Tax Advice

I just received a note from the PR folks at Intuit (TurboTax) letting me know that they are offering free tax advice to their customers. I guess it is time to start thinking about 2011 taxes. I have been using computer tax software to prepare my taxes since 1996, and I plan to do so again this year. Once again, the two main contenders are TurboTax and H&R Block. I have not yet decided which of these software products I will use.

Anyway, the point of this post is that TurboTax is offering this free tax advice service to registered TurboTax users from 12/1/2011 to 4/1/2012. Of course, the first question that comes to my mind is what constitutes a "registered TurboTax user"? On the TurboTax website, you can register and start your tax return for free. You are not charged until you decide to use their product for filing. In fact, TurboTax offers 1040EZ and simple tax return preparation for free. So, I would guess that anybody could be entitled to this free tax advice.

This is a departure from the service that they offered last year which allowed you to submit a tax question through their website: www.freetaxquestion.com. (Note that this website appears now to be disabled.) Any questions about the free tax advice offer should be directed to TurboTax Support.

The main thing that I like about their new offer is that it is valid until the beginning of April, when most people will need the advice. Previously, TurboTax limited their free advice service until the end of January. Few people are organized enough to know what tax question you want to ask before then. After January 2011, the price of their free advice increased to $39.95.

Getting back to tax preparation software, I have used both TurboTax and H&R Block to prepare my taxes. Without going into a lot of detail, the end result of using both programs was 100% identical. So, my recommendation is if you have used TurboTax in the past and were happy with the end result, you should probably stick with that choice. On the other hand, if you used H&R Block At Home (or other tax software) and found that to be satisfactory, you probably won't gain much in switching to TurboTax. I have found that TurboTax usually ends up costing a little bit more than the equivalent competitive tax software.

Note to Commenters: If you represent a company such as Intuit, H&R Block, Microsoft, etc., please leave your contact information or send me an Email (my Email address is listed in the sidebar) to let me know that you left a comment. If I cannot determine that your comment is authentic, it will be deleted.

DC

Monday, November 14, 2011

Gold IRAs: A Potentially Sound Investment in an Uncertain Time

Remember the first time you heard the term "IRA"?

Long before the responsibilities of adulthood loomed, you probably overheard your parents using the acronym and dismissed it as yet another boring topic that only old fogies had to worry about. Alas, you finally grew up and realized that your parents were, well ... not that old when they used that foreign-sounding term. The truth is, planning for retirement as early as possible gives you the best possible chance of meeting your goals. A Gold IRA is an option that is often overlooked, but has the potential to be one of the soundest investments you can make in an economic climate fraught with uncertainty.

These days, a trip to your local amusement park is likely to offer fewer ups and downs than the economy. With the stock market fluctuating wildly, many investors have been left scratching their heads at the prospect of finding a reliable long-term investment. Even the purchase of land, once heralded as the best possible investment you could make, has proven to be a tenuous proposition due to the all-around instability.

How did we get here? The worldwide recession we're currently embroiled in (as a result of the sub-prime mortgage crisis) led to heavy borrowing, which in turn left smaller countries (like Greece) unable to repay their debts. The U.S. has had its share of debt-related difficulty as well, as was on stark display when its credit rating was downgraded for the first time in the nation's history. Consequently, the value of currency worldwide is dropping and stocks are plummeting while gold, often referred to as a "crisis commodity," has seen its value soar.

Planning for retirement amid such chaos can be overwhelming. If you're considering options, than you most likely know that an IRA (or Individual Retirement Account) is a form of long-term investment that was created to provide financial stability for you when you reach your golden years. In the past, investors generally thought of IRAs as being restricted to cash and cash equivalents, but in 1997, the Taxpayer Relief Act made adding precious metals like gold, silver and platinum possible.

The Relief Act provided investors an excellent opportunity to reduce portfolio volatility. Gold's remarkable ability throughout the ages not only to weather troubled times but to appreciate in value makes it a particularly dependable investment when compared to mutual funds, stocks or bonds. A rather striking statistic is that if you had invested $25,000 in gold coins 30 years ago, you'd have a net worth of $500,000 today. Since an IRA represents an entire lifetime of work, it makes sense to contemplate making gold a significant role-player on your journey to a successful retirement.

The most priceless commodity of all is peace of mind. A gold IRA is worth considering seriously when planning for a bright future, while living in an all-too-bleak present.

Saturday, November 5, 2011

Are Credit Unions Really Any Better Than Banks?

I've had a credit union account for over 21 years. With Bank Transfer Day upon us, many people will be moving their money out of big banks and into smaller credit unions. I am certainly no defender of banks. In fact, I have a saying that "There are no good banks, just some that are less bad." But I am not willing to give credit unions a free pass just because they are not-for-profit. I am simply not convinced that credit unions are any better than banks.

I regularly publish the money market interest rates of several financial institutions. There is one credit union on my list: Western Federal Credit Union. I have maintained an account at Western FCU (and at it predecessor credit union) since 1993. Regrettably, in my updates going back to 2008, Western has consistently scored in the lower half of the financial institutions that I track. This is certainly not a convincing argument for Western FCU.

In order to provide some additional points of comparison, I added a couple of credit unions that advertise quite heavily in my local area: Travis CU, and Patelco Credit Union. A bit of history: Patelco is the credit union for the company currently called AT&T (formerly SBC (formerly Pacific Bell (formerly Pacific Telesis Group (formerly Pacific Telephone Company)))). Thus, the name Pa-Tel-Co Credit Union. Anyway, I've digressed. So, I compiled an interest rate list for these credit unions, and a few selected banks.

0.89% Ally Bank Online Savings
0.76% EverBank Yield Plus Money Market
0.45% Western FCU Money Market
0.10% Citibank Savings Plus
0.10% Travis CU Flexible Money Market
0.06% Patelco CU Money Market Account

The two new credit unions are approximately on par with Citibank! And Citibank is pretty much at the bottom of the heap as far as banks are concerned. I realize that interest rates alone are not the only comparison point. There are, of course, customer service issues and fees. Thankfully, I am very careful about the types of accounts that I open, and have been able to avoid bank fees.

As far as Western FCU is concerned, I still have a sizable balance with them. However, they did close the one branch near my home (the next closest branch being a 30 mile drive away). And, they can be just as inflexible as the big banks on some matters.

But to sum things up, I am not particularly loyal to any bank. I will transfer my bank funds to a credit union if somebody can show me a credit union that I'm qualified to join, and has savings rates as high as Ally Bank, or branches that are as convenient as Citibank. In the end, I guess that I won't be transferring my money today after all.

DC

Thursday, November 3, 2011

Get a $60 Cash Reward from EverBank

EverBank just sent me an Email offering a $60 cash reward bonus for opening a new checking account. Of course, like every bank offer out there, they have a few terms and conditions that you must satisfy to receive your money. On the positive side, EverBank doesn't charge monthly account fees, or debit card fees. And, they have a decent interest rate for a checking account of 0.46% APY or higher. (My current checking account pays me 0.01%.)

Here is the fine print:

Bonus Offer: When you open your first Yield Pledge Checking Account ("Checking Account") before November 30, 2011, you may be eligible to receive a $60 cash reward. To qualify for the $60 reward, you must: a) apply for your first Checking Account and title the account for individual or joint ownership; b) your Checking Account must be opened, approved and funded with a minimum deposit of $1500 USD transferred to EverBank by November 30, 2011; c) you must establish and receive at least one direct deposit of at least $500 into your Checking Account before January 31, 2012; d) you must maintain an average daily balance of at least $1500 for the statement periods ending December 31, 2011, and January 31, 2012; and e) you must keep the account open until February 29, 2012. The $60 reward will be directly deposited into your Checking Account not later than February 29, 2012. Limit 1 reward per household. This offer expires on November 30, 2011.

DC

Tuesday, November 1, 2011

How Does Your Income Rank?

The IRS has recently released percentile ranks for adjusted gross income (AGI) reported on 2009 tax returns. Currently, these are the latest statistics that the Internal Revenue Service has made available. Using this handy table, you can quickly figure out where your income ranks:

2009 AGI (Adjusted Gross Income)Percentile Rank
less than $32,396Bottom 50%
more than $32,396Top 50%
more than $66,193Top 25%
more than $112,124Top 10%
more than $154,643Top 5%
more than $343,927Top 1%

This data comes directly from the Internal Revenue Service. A link to all of the Statistics of Income (SOI) data can be found on the IRS website.

I have also come across an interesting article on Kiplinger.com that further analyzes the IRS data. From this information, they conclude such facts as those making over $343,927 (the top 1%) account for 37% of all the taxes paid. Does anybody have some further insight on this statement?

So, now you have the data. Where do you rank?

DC

Monday, October 10, 2011

4 Tips for Saving Money in Times of Economic Transition

While it is never easy to know when to spend, when to save, and when to invest, the current economic state is somewhat ambiguous, frustratingly so for some people, who'd much rather just get over being cautious. It's true that the economy is recovering, but before you go out and spend like it's 1999, know that we are in more of a transitional period than full-tilt prosperity, and you should spend accordingly. What does this mean exactly? The long and short of it is that you should still commit to saving, and at the same time monitor your spending to get an idea of where your spending. To give you an idea of some good financial strategies, here are some tips for surviving a transitional period:
  • Balance your regular expenses with days that you don't spend any money at all. This means sacrificing designer coffee, fast food, movie theaters, random shopping sprees, at least once or twice a week. You can just as easily prepare a lunch and dinner at home—and, yes, brew your own coffee. As scary as this sounds, you might be surprised at how limiting your spending in this way can improve your relationships and your life: making dinner at home can be a romantic change from eating out, and will also improve your culinary prowess.
  • Think about "the best things in life." The old saying tells us that the best things in life are free, but we all know that isn't really true. Houses, engagement rings, and cars (which are not themselves the best things in life, but do add to life considerably) are not free. If you are dreaming about a big purchase that will add to your collection of "best things," use that dream to help you control your spending.
  • Take a good, hard look at your expenses. It's really easy to get into a pattern of spending without even knowing it. This isn't always a bad thing, but these patterns can be very expensive over a long period of time. Buying a pack of gum every time you're at the grocery, for example, or continuing to pay for that gym membership even after you've stopped going to the gym. Track your expenses for a month to see where you can trim a little fat and save yourself a little green. With as many money monitoring apps and sites as there are today, this should be easy.
  • Make a focused effort at paying off debts. If you're still paying off school or credit card debts, consider consolidating them and paying a higher balance every month, instead of the minimum payment. The economy has more or less leveled out, and now would be a great time to attack your debt, so that when the economy recovers you can spend less guiltily (or if it does not improve, you won't have anything to worry about.
Following these four tips can really help you get a hold your finances in this strange economic time, and prepare yourself for the depression or prosperity that could follow. Either way, you want to be prepared—and these steps will put you on the path to preparedness.

About the Guest Author
Mariana Ashley is a freelance writer who particularly enjoys writing about online colleges. She loves receiving reader feedback, which can be directed to mariana.ashley031@gmail.com. If you are interested in writing a guest post, please contact PF Stock at the Email address listed in the sidebar.

Friday, October 7, 2011

The Importance of Public Liability Insurance

The nature of the beast unfortunately means that cheap public liability insurance is not always the best public liability insurance. Of course, it helps to do your research, so you should always read every detail of the terms and conditions in every policy that is available to you before you go ahead and pay for one.


Image courtesy of Frosted Peppercorn

Policies that have similar or even identical prices quite often will not have identical terms and conditions. Indeed, the cheapest policies are cheap for a reason: because they are far less inclusive than all other policies. Every kind of business will need a different kind of public liability insurance to cover its specific requirements.

Public liability insurance is not a legal requirement for businesses, which means that the common trap that people fall into is thinking or, indeed, hoping that nothing will happen to customers or members of the public on their premises. In this case, as in many cases to do with insurance, it is far better and cheaper to be safe than sorry.

The potential costs of having to pay out of your own pocket for a claim that is not covered under an insurance policy are huge. Granted, insurance can be expensive on a monthly or yearly basis, but it will save you hundreds and possibly thousands in the event of a claim being made against your business.

Basically, public liability insurance covers you and your business against any kind of injury or illness that might be sustained on your premises by somebody not involved with your business. Such insurance is essential for a place like a pub, in which people can easily trip, slip or fall over a barstool or a spilt drink. Damage to a person’s property is also covered under most policies. A building firm, for example, would need public liability insurance to cover any potential damage that might accidentally occur to somebody’s house during a job.

It is worth reiterating here that some policies will not include certain cover for your particular type of business. Referring back to the previous example, a builder might regularly work at a height of above 5 or 10 metres, so he or she would need to specify such a requirement for cover in their insurance policy.

Depending on the seriousness of any possible claims, the potential ramifications of not having public liability insurance on your business can be devastating. In particular, if you run a SME, you could be at risk of bankruptcy if somebody files a serious claim against you, so it is not worth the risk. Bite the bullet and get insured.

Thursday, October 6, 2011

Money Market Rates 10/11

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

1.00% Discover Bank Online Savings
1.00% American Express High Yield Savings
1.00% Urban Partnership Bank
1.00% ING Direct Orange Savings
0.99% Ally Bank Online Savings
0.80% HSBC Advance Online Savings
0.70% FNBO Direct Online Savings
0.45% Western FCU Money Market
0.25% E*TRADE Complete Savings
0.15% Chase Plus Savings
0.10% Citibank Savings Plus

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates.

Rates are believed to be accurate as of 10/5/11. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. At the request of readers, I added American Express and FNBO Direct to the list of institutions. Discover Bank, American Express, Urban Partnership Bank, and ING Direct currently have the highest interest rate of 1.00% among the banks that I'm tracking. By the slimmest of margins, Ally Bank Online Savings has dropped 3 positions in my list. This is because they have dropped their rate to only 0.99%.

At the very bottom of the list is Citibank. However, they do have a special promotion going on until the end of October where you can get either $200 or $400 for opening a new Citi Checking Account. Of course, there are a few catches to this offer. First of all, you are required to set up direct deposit, and need to make electronic bill payments for at least two months. The Citibank account offers a $200 bonus, and the Citigold account offers a $400 bonus. While not a requirement to receive the bonus, you need to keep $6,000 ($15,000 after December 9, 2011) in the Citibank account to avoid a $20 monthly fee. And $50,000 is required to avoid a $30 monthly fee for the Citigold account. In spite of these potential fees, this bonus offer might be worthwhile for some depositors.

It seems that the general interest rate trend is down. I was especially disappointed that the interest rates for Citibank and Chase were so low. Since I still have significant funds in these institutions, I think that it is time for me to consider moving some money around to other institutions.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

DC

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Saturday, September 10, 2011

Ally Bank's Raise Your Rate CDs

I recently opened a "Raise Your Rate CD" at Ally bank. The difference between this and a regular Certificate of Deposit is that if rates go up during the CD term, you are allowed to have Ally adjust the interest rate to the current rate. They have 2- and 4-year Ally Bank Raise Your Rate CD available. The 2-year Raise Your Rate CD allows 1 such increase during its term, and the 4-year CD allows 2 increases during its term.

The biggest risk of any long-term CD is the chance that interest rates will rise and that you've already committed to a lower rate until the CD matures. The "Raise Your Rate" feature is a way for savvy depositors to mitigate this risk. I have previously written about opening a 5-year CD at Ally Bank in my "Pay the Early Withdrawal Penalty" post. This Raise Your Rate CD is the second CD that I've opened at Ally Bank.

All CDs from Ally Bank carry an early withdrawal penalty equal to 60-days of interest, except for the Ally Bank No Penalty 11 Month CD. I believe that it is not a good idea to open a CD with a term of 9 months or less at Ally Bank. The reason for this is based on simple math, and explained in my post: Don't Open a Short-Term CD at Ally Bank.

Interest rates are pretty low these days. But, my current plan is to ask Ally Bank for a rate adjustment if the rate goes up by a percent or so above the current rate.

DC

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Tuesday, August 16, 2011

Innovative Way to Accept Credit Cards

Sure it is easy to set up and accept credit card payments if your business is a bricks and mortar business. But what about those who aren't? These businesses could consist of landscaping companies which are often ran out of the home of the owner, small start up businesses like antique dealers or sales professionals, vendors who take their business to a location like food carts, or even freelance workers who sell their stuff at expos or other types of flea markets. Sure they can just as easily accept credit cards from their homes but that will be a tedious project with no payment guarantees. It would involve recording each customer’s contact information along with their credit card numbers, the date it expires, and the CVS security code and manually entering this all into the credit card terminal when you arrive home. It is a long and tedious process and the risk of a declined card or fraud are extremely high since you are processing the card without the customer or their card physically there. A common trait between these types of business is the lack of a fixed point of sale location.

Accepting credit cards does not have to be a stationary thing. The big boys in the merchant account industry offer wireless terminals. These terminals are big, bulky, and often slow. They also usually have the traditional fees associated with them causing many business owners to cringe at the idea of signing up for a contract. However, like every other technology out there, the merchant service industry is turning innovative. Developers for all the big companies are coming out with mobile credit card processing options. These options are often at lower cost and fit the life of those who do not have a fixed POS.

With mobile credit card processing services like Pay Anywhere out there, there is no reason for a business not to accept credit cards. Own a landscaping business? How convenient is it to allow your customers to pay at their doorsteps with a credit card rather than receive a check that you have to take to the bank? Customers will even want to see this process in action. It is a savvy feature that is also energy efficient. The reader which comes free plugs into the phone and runs off of the phones battery. It is paperless as receipts are e-mailed to the customer rather than printed off, and secure as no data is stored during any process of the transaction. The best part about this service, from an entrepreneur stance, is the low fees. Traditional merchant accounts will fee a user for processing the card, batching the machine at the end of the business day, a monthly rental fee, and even a monthly minimum fee. These fees factor in to a business’s decision on accepting credit cards as it can become costly.

The fees with mobile credit card processing are different. For example Pay Anywhere only charges users a processing fee. The fee is 2.69% plus an additional 19 cents for every card swiped. This is huge for someone who knows they will not be using the device daily. It is a manageable fee that is relatively similar to what processing fees are for standard credit card terminals.

Friday, August 12, 2011

Funny Message from Scottrade

I recently requested some information from Scottrade about opening a new brokerage account. They asked for a telephone number, but rather than giving them my home or work phone, I instead supplied them with my Google Voice phone number. For those who are not familiar, that is a free telephone number that you can access through Gmail.

I had not gotten around to funding the new account, so one of their representatives with a thick foreign accent called me up to see if he could answer any questions. The way that Google Voice works, if I'm not available to answer the phone (the usual case), it sends the caller to voice mail and will try to transcribe the message to Email for me. Here is what my Email said:

Hi, this message for the rich and I just can't calling from Scott Chen moving. Com that you regarding a new account opening to send a I try to find out see if the but i mean, i think you're so opening up. I was call today Give me a call if you have any questions, our number 408 So I was, 370 800 cents of a good day. Bye.

OK. Now, I'm not so sure if it was Scottrade calling or if it was actually Scott Chen calling me. I later listened to the recording, and to be honest, the voice mail was not particularly intelligible either. I think that the man's name was Justin, but he spoke so quickly that I couldn't get the return phone number straight!

So I think that the moral of the story here is that if one is working in customer service, they ought to practice speaking clearly.

DC

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Wednesday, August 3, 2011

Money Market Rates 8/11

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

1.10% Discover Bank Online Savings
1.04% Ally Bank Online Savings
1.00% American Express High Yield Savings
1.00% Urban Partnership Bank
1.00% ING Direct Orange Savings
0.85% FNBO Direct Online Savings
0.80% HSBC Advance Online Savings
0.55% Western FCU Money Market
0.25% E*TRADE Complete Savings
0.15% Citibank Ultimate Savings
0.15% Chase Plus Savings
0.07% PayPal Money Market* (closed)

NOTES: *The PayPal Money Market fund is NOT FDIC insured. PayPal closed the Money Market fund as of 7/29/11. This result is not surprising since the PayPal money market fund has been at or near the bottom of these rankings since 2009. It is also not FDIC insured, so clearly there are better choices available. The PayPal Money Market fund will be removed from the list in the future.

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates.

Rates are believed to be accurate as of 8/2/11. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. At the request of readers, I added American Express and FNBO Direct to the list of institutions. Discover Bank currently has the highest interest rate of the banks that I'm tracking.

It seems that the general interest rate trend is down. I was especially disappointed that the interest rates for Citibank and Chase were so low. Since I still have significant funds in these institutions, I think that it is time for me to consider moving some money around to other institutions.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

DC

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Thursday, July 14, 2011

Last Chance to Get a Free Dell Monitor

A little while back, I mentioned that OptionsHouse was offering a free Dell computer monitor to new customers who deposit $5,000 or more. (See: Whats the Best Gift Received from a Bank or Brokerage?) I had considered taking them up on the deal. So a few weeks ago, I applied for a new OptionsHouse account and deposited $5k. In less than two weeks, I received my new 24 inch Dell monitor.

The monitor itself is a widescreen flat panel display with a maximum resolution of 1920 X 1080. It is a nice replacement for the 17-inch Dell CRT that I've had for over 10 years. Although the screen is much larger than my CRT, it is weighs about one fourth as much and doesn't get quite as hot as the old monitor.

Anyway, if you are interested in taking advantage of the deal, this is really your last chance. The OptionsHouse offer will expire on July 31, 2011. The offer is available from this link to the OptionsHouse.com website. According to their website, you have to keep the account open for at least 180 days. I did some checking, and found that the 24 inch Dell monitor (ST2420L) they are giving away retails for about $220, so it is a pretty generous gift. For a deposit of $100k, they are offering a 27 inch Dell U2711 which is worth $1100. Lastly, if you have $250k to reach the highest tier, they will give you a 30 inch Dell U3011, which costs $1500.

These last two tiers are pretty steep, but I think most readers could afford to deposit $5k if they want a new monitor. Also note that you have to enter promo codes DELL24, DELL27, or DELL30 as appropriate when applying.

DC

Wednesday, July 13, 2011

Don't Open a Short-Term CD at Ally Bank

It is not a good idea to open a CD with a term of 9 months or less at Ally Bank. The reason is based on simple math. Here are the latest CD yields from Ally Bank High Yield CD (as of 7/11/2011):

3 Month CD = 0.44%
6 Month CD = 0.94%
9 Month CD = 0.99%

Instead of opening one of these shorter term CDs, it is a better choice to open up an Ally Bank No Penalty 11 Month CD with an APY of 1.19% APY. Because it has no early withdrawal penalty, you can withdraw your money from the 11 Month No Penalty CD at any time. The yield beats out any of the shorter term CDs that Ally Bank offers, so there is no need for any of the shorter term CDs which will charge an early withdrawal penalty. Also, there is no minimum deposit requirement on Ally Bank CDs, and Ally is FDIC insured.

DC

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Friday, June 17, 2011

When It Comes To Saving Money, Look Up - At The Roof Over Your Head!

Housing is the greatest living expense for most people, so therefore it’s an area where saving money can have a huge impact. Consider the home you currently live in. Is it too large for you and/or your family? Perhaps downsizing to a smaller home is something you should consider.

From 1970 to 2004, according to the U.S. Census Bureau, the average household shrank by 27 percent, but the average square footage of homes grew by 66 percent. There are several theories as to why this is happening. First of all, people want a higher standard of living. Maybe it’s about keeping up with the Joneses. Maybe it’s because of the breakdown of the American family, which makes us need more space in which to avoid one another.

Whatever the case, do we really need the extra space? In 1950, a family of four could live well in a 1,500 square foot home. Why can’t we do that today?

Aside from the price tag attached to a larger home, consider the higher property taxes and insurance rates. A bigger home also costs more to heat, cool, maintain and repair.

Renting vs. Owning
Consider renting – it’s controversial advice for Americans, who’ve been taught that part of the American Dream is to own a home. But in recent years, this American Dream has become a nightmare as mortgage rates and rising unemployment have forced many to lose their homes. While mortgage rates have hit on the high side, rental rates have remained quite manageable.

If you purchase a home, be realistic about the size of the home. Do you really need five bedrooms, or can your family make do with three and save the difference? When it comes to this question, size really does matter. And remember: you can search the sale papers each Sunday for the rest of your life, and you’ll never find a coupon for $30,000 off on a new home.

When you search for a home, shop for a mortgage. By doing so, you can find the best rate from lenders you may have never even heard of. Learn to negotiate, whether you are renting or buying, in order to get the best deal.

Insuring Your Home
If you own your home, you know you must have homeowner’s insurance. The price you pay for that insurance can vary by hundreds of dollars, depending on the company you purchase your policy from. When seeking to purchase this type of insurance, shop around. Check consumer guides, insurance agencies, companies and online insurance quote services. This will give you an idea of the price ranges and tell you who’s got the lowest prices.

You may want to consider purchasing your car and homeowner’s insurance from the same insurer. There are often discounts for doing so.

When shopping for a home, consider factors that could save you money and save you 5 to 15 percent on your premiums:

  • The home is close to a fire hydrant.
  • The home is near a professional, not volunteer, fire department.
  • The home’s heating, electrical and plumbing systems are less than 10 years old.
  • If you’re in the eastern portion of the country, consider a brick home, which is more wind-resistant.
  • If you are buying home in an earthquake-prone area, look for a wooden frame house because it will more likely withstand that type of disaster.

Maintaining Your Home
Remember that there are things you can do on a regular basis to maintain your home that will save you money. These things include:

  • Close the fireplace damper when not in use.
  • Fix leaky faucets.
  • Unclog slow-running drains.
  • Inspect and test smoke and fire alarms. Replace the batteries regularly.
  • Inspect and replace filters regularly in your air conditioner, furnace and pool. Keep the compressor unit of central air conditioner clean as well.
  • Inspect the foundation for water penetration, settlement and cracks.
  • Clean the gutters and downspouts.
  • Inspect and treat the exterior wood for splintering, decay and damage.
  • Check the roof for leaks or warping.
  • Check for loose or cracked caulking around tiles, sinks, tubs, showers, toilets and counters.
  • Inspect and replace weather stripping around doors and windows.
  • Trim trees or shrubs touching the roof or exterior of the home.

About the Guest Author
Angye M. is the contributing editor for AmericaOneUnsecured.com. They help consumers nationwide obtain personal loans and business loans. If you are interested in writing a guest post, please contact PF Stock at the Email address listed in the sidebar.

Thursday, June 2, 2011

Money Market Rates 6/11

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

1.15% Discover Bank Online Savings
1.15% American Express High Yield Savings
1.00% Ally Bank Online Savings
1.00% Urban Partnership Bank
1.00% ING Direct Orange Savings
1.00% FNBO Direct Online Savings
0.80% HSBC Advance Online Savings
0.55% Western FCU Money Market
0.30% E*TRADE Complete Savings
0.20% Citibank Ultimate Savings
0.15% Chase Plus Savings
0.07% PayPal Money Market*

NOTES: *The PayPal Money Market fund is NOT FDIC insured. In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates.

Rates are believed to be accurate as of 6/1/11. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. This month at the request of readers, I added American Express and FNBO Direct to the list of institutions. Discover Bank and American Express are tied for the highest interest rate of the banks that I'm tracking.

I was surprised that the interest rates for Citibank and Chase were so low. Since I still have significant funds in these institutions, I think that it is time for me to consider moving some money around to other institutions.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

DC

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Thursday, May 5, 2011

Attack of the Groupons: 5 Great Sites for Groupon Deals

We have yet to meet one person who is not in love with the Groupon concept. It’s easy to see why: the Groupon concept is simple and attractive. Deals for just about anything from shopping discounts to service discounts are made available in certain websites and certain cities. Now, the catch is that the discount or group coupon can only be claimed if a certain number of people purchase the discount. It’s a great deal for both store owner and buyer, because the buyer gets the service for cheap, and the store owner gets enough customers to make the discount worthwhile. The success of the original Groupon concept has spurred on other companies to do the same. Today, there’s a variety of Groupon sites to pick from. Here are a few of our favorites.
  1. LivingSocial- It’s safe to say that LivingSocial is one of the biggest Groupon competitors out there. Available in three countries and 89 cities, LivingSocial uses a great marketing gimmick called the "tempt strategy". If a user can tempt three or more of his friends to get a particular deal, then that user gets the deal for free. LivingSocial also has an iPhone app that allows its users to see the latest deals even while on the go.
  2. Dealster- Available in over 50 cities in the United States, Dealster is another Groupon site that is slowly making it big. The great thing about Dealster is that its users are notified daily if there are any deals going on in their particular cities. Also, Dealster offers coupons that are transferrable, and can be given to friends and family.
  3. Groupon- We can’t knock the original that started this awesome madness! Groupon still beats the competition as it offers more local deals in more cities in the United States compared to other group discount sites. The great thing about Groupon is that every major city in the US can more or less expect a deal to pop up every day. What’s more, Groupon purchases aren't limited to its users' needs. Users can get Groupon deals for their family, as well as Groupon gift certificates.
  4. SocialBuy- This group discount site is most suited to the social individual, the one who always wants to go out. Compared to other Groupon sites that offer deals for just about anything, SocialBuy focuses on discounts for food, beverages, health products and entertainment services. Every time a SocialBuy user successfully recommends a friend to use SocialBuy, the website gives that user $10 SocialBucks to spend on the discount that he wants.
  5. Homerun- Homerun is another site that uses a sly marketing concept. When you join Homerun, you are forced to use your own virtual currency to get deals and discounts. Members can choose from multiple deals within their first 30 days as members. Also, Homerun has been known to offer a lot of freebies for various restaurants and bars.

About the Guest Author
Sam Briones is a freelance writer who covers an array of topics from finding cheap auto insurance to safety tips. If you are interested in writing a guest post, please contact PF Stock at the Email address listed in the sidebar.

Wednesday, April 27, 2011

Get $100 When You Open a New optionsXpress Account!

The brokerage optionsXpress is currently offering a $100 bonus promotion. First of all, don't let their name fool you. In addition to options optionsXpress also lets you trade stocks, bonds, futures, mutual funds and ETFs. And the name is really spelled with a lower-case "o" and an upper-case "X". There are a few conditions that you need to meet in order to receive the $100 bonus. But basically, you have to open a new account, deposit at least $500, and execute 3 trades within 12 months.

With optionsXpress, you will have access to innovative, powerful trading tools, investment education, and outstanding customer service. As for commissions, optionsXpress charges $9.95 for stock trades, and $1.25 per contract ($12.95 minimum) for options trades. I will also note that The Charles Schwab Corporation (NYSE: SCHW) has announced plans to acquire optionsXpress Holdings (Nasdaq: OXPS). You can read the Charles Schwab press release here.

So, if you were thinking of opening a new brokerage account, the extra $100 could come in handy. Visit the optionsXpress website to learn more.

Tuesday, April 26, 2011

Money Market Rates 4/11

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

1.15% Discover Bank Online Savings
1.00% Ally Bank Online Savings
1.00% Urban Partnership Bank** (fmr Shorebank) Online Savings
1.00% ING Direct Orange Savings
0.90% HSBC Advance Online Savings
0.65% Western FCU Money Market
0.30% E*TRADE Complete Savings
0.20% Citibank Ultimate Savings
0.15% Chase Plus Savings
0.07% PayPal Money Market*

NOTES: *The PayPal Money Market fund is NOT FDIC insured.
**On August 20, 2010, ShoreBank was closed by regulators, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. Accounts were transferred to Urban Partnership Bank of Chicago. The FDIC has issued a press release regarding this matter.

Rates are believed to be accurate as of 4/25/11. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. By a small margin, Discover Bank has the highest interest rate of the banks that I'm tracking.

I was surprised that the interest rates for Citibank and Chase were so low. Since I still have significant funds in these institutions, I think that it is time for me to consider moving some money around to other institutions.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

DC

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Friday, April 22, 2011

What's the Best Gift Received from a Bank or Brokerage?

Over the years, I've collected my share of free gifts from banks and brokerage firms. These include T-shirts, mouse pads, flash drives, and the most unusual flashlight toolkit. But what is the best gift that you've ever received from a bank or brokerage? To be clear, financial institutions reserve the best gifts for their customers who take a specific action like opening a new account, or making a substantial deposit to an existing account. These gifts are generally much more valuable than a T-shirt or flashlight.

Some of the presents that I've claimed in the past include free airline miles, cash bonuses, personal digital assistants (PDAs), and an HDTV set. I have a few PDAs (Palm Tungsten 3, Palm VIIx, and Handspring Visor) that I've received from banks and brokers. Some brokerages like Fidelity offer customers airline miles for opening a new account. I've also opened a couple of credit cards that were offered in conjunction airline mileage programs. These usually offer generous bonuses for signing up.

Some banks and brokers offer a cash bonus for signing up. For example, right now optionsXpress brokerage is giving away $100 to new customers who deposit at least $500 and make 3 trades. Some credit cards such as Discover Card offer a cash back bonus for opening a new credit card account. I already had a Discover Card, but I found that they allow individuals (with good credit) to have two Discover Cards. So I went ahead and took advantage of their offer by opening a second account. I will note that some banks will report a bonus that you receive on a 1099 form. So, keep that fact in mind when you open a new account.

Lastly, another deal that I might take advantage of is the OptionsHouse.com offer of a new Dell computer monitor for a deposit of $5,000 or more. According to their website, you have to keep the account open for at least 180 days. I did some checking, and found that the 24 inch Dell monitor (ST2420L) they are giving away retails for about $220, so it is a pretty generous gift. For a deposit of $100k, they are offering a 27 inch Dell U2711 which is worth $1100. Lastly, if you have $250k to reach the highest tier, they will give you a 30 inch Dell U3011, which costs $1500.

These last two tiers are pretty steep, but I think most readers could afford to  deposit $5k if they want a new monitor. Also note that you have to enter promo codes DELL24, DELL27, or DELL30 as appropriate when applying.



So there you have it. What do you think the best bonus gift from a bank or brokerage is?

DC

Wednesday, April 20, 2011

How to Add Supplemental Income to Make Ends Meet

Most individuals do not save nearly enough money for their many needs and goals, including for the future and retirement. While personal income is often to blame for not having ‘enough to go around’, there is also blame to be put on the individuals not exploring the opportunities they have when it comes to savings goals and other income-earning opportunities.

Savings goals should be a part of everyone’s personal financial system. Without identifying and putting away adequate cash for the savings goals you have, you likely won’t be successful in achieving personal financial success. Saving goals are just as important as your overall budget plan for making ends meet. Many people will struggle just meeting their basic financial obligations because they do not make enough money in their job. They forget about prioritizing their savings goals because there isn’t enough cash on a monthly basis to meet basic bills.

However, there are other resources where money can be made and added to one’s overall income. These resources should be pursued in order to find financial stability rather than sit back and lament lack of funding.

Overlooked Options - Where Are Your Resources?
For people struggling with deep debts, it is often necessary to take on a second job for the needed income. When we are doing okay financially but still not well enough to achieve our savings goals, supplemental income can be the key to overall personal finance success.

The current job market is tough. Many full time workers who have been downsized or out of a job have taken on many of the part time jobs people used to use as a resource for supplemental income. While part-time retail jobs and similar hourly work is still very much an option, these jobs may be harder to come by or may only be found on a temporary basis. Many will also not pay the kind of money you need to earn especially if the job hours interfere with your regular employment.

Ideally, to control the financial and time aspects of supplemental income, you can turn to your own skill sets. There are literally hundreds of different services you can provide on your own within your local neighborhood or solely online. Because of today’s tough job market, many people have been turning to entrepreneurism in order to access extra cash. Of those who have ventured out on their own, many have found not only success at earning the extra cash they set out needing, they have come to find a brand new full time career.

Exploring Your Talents
The odds are high that you have some type of talent, skill, or know-how that can be marketable to others. From crafts to dog walking to gardening to blogging, you can likely find a way to turn your skills into supplemental cash. Even if your current paycheck covers the bills, you still need to be thinking about the future. The extra income you earn can be allocated exclusively to your savings. Whether you turn your talent into a full-fledged career or continue to earn extra money throughout the month doing odd jobs, it is essential to make sure your money goals stay on track.

Marketing your talents in the age of social media and other online interaction is a low-cost and very effective means of supplementing to the income you already are making. Start by asking friends and family what you do best if you are unable to find initial direction. Start small to keep overhead costs low and grow as necessary. It may be important for you to remain discreet about your additional work with your present employer, especially if you have plans of performing the same kind of job. You should also refer to your current Employee Handbook from your full time employer to be sure there is not clause including containing a non-competes agreement, meaning you can not legally perform similar services because you signed an employment contract.

Whether you opt to perform physical labor like woodworking or offer to freelance your bookkeeping skills, you are opening the door not only for a stronger financial picture for the future ahead with the supplemental income now, you are also possibly establishing even more of a financially secure future if the supplemental services becomes a success.

About the Guest Author
This is a guest post by James Quinn. James is a personal finance writer with years of experience in the space. Besides the usually debt relief, credit and investment topics, James also turns to some alternative solutions such as supplemental income planning. To find out more about traditional or innovative ways to fight debt, visit the debt settlement blog.

Tuesday, April 12, 2011

How to Start and Sustain a Successful Investment Club

Investing in the stock market can be stressful. After all, you're risking your hard earned money in an attempt to make more money. There's no guarantee you won't lose it all. You may also make a killing, and that's what makes people take the chance. If you know next to nothing about the stock market but would like to get your feet wet, you may want to consider starting an investment club. It's a way to gain some experience without having to make all the decisions yourself. Following are a few tips on how to start and sustain a successful investment club.

What Is an Investment Club?
An investment club is where a group of people get together and pool their money to buy and sell stocks and bonds or pursue other investment opportunities. One of the advantages is that an individual will be able to benefit from the knowledge of others, while offering their own in return. You pool not only your money, but your knowledge and experience as well.

How to Start an Investment Club
If you're interested in starting an investment club, you must first decide whether you're getting into it simply to make money, or for the learning experience, or some combination of the two. Since this is an activity that will require not only money, but time, too, you should make sure you're willing to make the commitment. The first step is to research the concept of investment clubs. Use all the resources you have available to you, including the Internet and your own contacts.

Resources
Check out a group called the National Association of Investors Corporation (NAIC.) They have a track record of helping investment clubs become successful long-term investors, and could certainly be helpful to you. Talk to friends, relatives, coworkers, and other people you know who are interested in the stock market. Find out if they have any interest in joining an investment club or if they know anyone who does.

Like-Minded People
Your club will have a much better chance of success if you seek out like-minded people--those who have the same, or similar, goals. If one person wants to jump in with both feet and invest thousands of dollars immediately, they may not get along with someone else who merely wants to take a chance by investing a few hundred. The more you know about the people who are involved, the better the odds of your club becoming successful and staying that way.

Size Matters
If your group is too large or too small it can become a problem. Having too many people may make it difficult to come to a decision on what stocks or bonds to buy or when to sell. If you have too few people you won't be able to take full advantage of the greatest benefit of an investment club, namely feeding off the experience and knowledge of others. The perfect number is something only your club can decide, but a group of 12 to 15 seems to work well.

Goals
Before any money changes hands, you should organize the club. Elect officers just as you would with any organization. Determine what your goals are, then brainstorm ideas on how to attain them. This is where your group's ability to get along will be tested, and the reason you need to have people who want similar things. Another important factor is to agree not only on where you're going, but the method of getting there.

Long-Term or Short-Term Investing
This is one of the most important points your group must agree on before the actual buying and selling begins. You must all be of the same mind. Whether your group wants to make quick in-and-out investments, or is determined to stick it out for a long period of time, every member of the group should agree. Those who are determined to make a swift profit and then get out will definitely not get along with someone who wants to be more conservative with their money and is willing to wait long periods of time for their investments to pay off.

About the Guest Author
This guest post is from Bailey Harris. If you are interested in writing a guest post, please contact PF Stock at the Email address listed in the sidebar.

Tuesday, April 5, 2011

Annual Income Survey Results

The results of PFStock's latest income survey are in. For a while now, I've had an annual income poll in the sidebar of PFStock that asks readers to respond to the question: "How much do you make?" In total, there were 85 responses to this poll. So, here are the latest poll results:

How Much Do You Make (April 2011 Results)

Annual Income% of PFStock Readers
less than $50k 8%
$50k-$99k 25%
$100k-$149k 27%
$150k-$199k 11%
$200k-$249k 8%
$250k and higher 18%

Note that the percentages do not add up to 100% due to rounding. From these statistics, I found it interesting that a large percentage of my readers fall into the higher income categories. More than 60% of PFStock readers have an income greater than $100,000 per year. Does anybody have a comment on this statement?

The last time that I published annual income survey results was in my July 2010 post on the topic. I also found similar results then. Because the 2011 and 2010 surveys covered different income ranges, it is not straightforward to make a side-by-side comparison. However, I made some simplifying assumptions and constructed this table from the two polls.

Annual income of PFStock readers 2010 vs. 2011

Annual Income 2010 Survey 2011 Survey
less than $50k 17%8%
$50k-$99k26% *25%
$100k-$149k 20% *27%
$150k and higher 34%37%

*Note: For the 2010 survey, the $75k-$124k range was split and divided between the $50k-99k and $100k-$249k ranges. The percentages do not add up to 100% due to rounding.

From these statistics, I see that there is a bit of a shift toward the higher income ranges. Does this mean that the economy is starting to recover in 2011?

Here are some other interesting related posts:

Annual Income Survey (2/10)
How much do you make? (4/09)
Net Worth Update (8/09)
Net Worth Comparison (6/08)
Are You Wealthy? (3/08)
Calculating Net Worth (9/06)

DC

Friday, April 1, 2011

Guest Post: Canola Oil Is Poisonous

Recently I bought cooking oil that's new to our supermarkets, Canola Oil. I tried it because the label assured me it was lowest in "bad" fats. However, when I had used half the bottle, I concluded that the label told me surprisingly little else and I started to wonder: where does canola oil come from? Olive oil comes from olives, peanut oil from peanuts, sunflower oil from sunflowers; but what is a canola?

There was nothing on the label to enlighten me, which I thought odd. So, I did some investigating on the Internet. There are plenty of official Canola sites lauding this new "wonder" oil with all its low-fat health benefits. It takes a little longer to find sites that tell the less palatable details. Here are just a few facts everyone should know before buying anything containing canola.

Canola is not the name of a natural plant but a made-up word, from the words "Canada" and "oil". Canola is a genetically engineered plant developed in Canada from the Rapeseed Plant, which is part of the mustard family of plants. According to Agri Alternatives, The Online Innovation, and Technology Magazine for Farmers, "By nature, these rapeseed oils, which have long been used to produce oils for industrial purposes, are... toxic to humans and other animals". (This, by the way, is one of the websites singing the praises of the new canola industry.)

Rapeseed oil is poisonous to living things and is an excellent insect repellent. I have been sing it (in very diluted form, as per instructions) to kill the aphids on my roses for the last two years. It works very well; it suffocates them. Ask for it at your nursery. Rape is an oil that is used as a lubricant, fuel, soap and synthetic rubber base and as a illuminate for color pages in magazines. It is industrial oil. It is not a food. Rape oil, it seems, causes emphysema, respiratory distress, anemia, constipation, irritability, and blindness in animals and humans. Rapeseed oil was widely used in animal feeds in England and Europe between 1986 and 1991, when it was thrown out.

Remember the "Mad Cow disease" scare, when millions of cattle in the UK were slaughtered in case of infecting humans? Cattle were being fed on a mixture containing material from dead sheep, and sheep suffer from a disease called "scrapie". It was thought this was how "Mad Cow" began and started to infiltrate the human chain. What is interesting is that when rape oil was moved from animal feed, 'scrapie' disappeared. We also haven't seen any further reports of "Mad Cow" since rape oil was removed from the feed. Perhaps not scientifically proven, but interesting all the same.

US and Canadian farmers grow genetically engineered rapeseed and manufacturers use its oil (canola) in thousands of processed foods, with the blessings of Canadian and US government watchdog agencies. The canola supporting websites say that canola is safe to use. They admit it was developed from the rapeseed, but insist that through genetic engineering it is no longer rapeseed, but "canola" instead.

Except canola means "Canadian oil"; and the plant is still a rape plant, albeit genetically modified. The new name provides perfect cover for commercial interests wanting to make millions. Look at the ingredients list on labels. Apparently peanut oil is being replaced with rape oil. You'll find it in an alarming number of processed foods. There's more, but to conclude: rape oil was the source of the chemical warfare agent mustard gas, which was banned after blistering the lungs and skins of hundred of thousands of soldiers and civilians during W.W.I. Recent French reports indicate that it was again in use during the Gulf War.

Check products for ingredients. If the label says, "May contain the following" and lists Canola oil, you know it contains canola oil because it is the cheapest oil and the Canadian government subsidizes it to industries involved in food processing. I don't know what you'll be cooking with tonight, but I'll be using olive oil and old-fashioned butter, from a genetically unmodified cow.

Here is some more information...
Canola oil from the rape seed, referred to as the Canadian oil because Canada is mainly responsible for it being marketed in the USA. The Canadian Government and industry paid our Federal Food and Drug Administration (FDA) $50 million dollars to have canola oil placed on the (GRAS) List, "Generally Recognized As Safe". Thus a new industry was created. Laws were enacted affecting international trade, commerce, and traditional diets.

Studies with lab animals were disastrous. Rats developed fatty degeneration of heart, kidney, adrenals, and thyroid gland. When canola oil was withdrawn from their diets, the deposits dissolved but scar tissue remained on all vital organs. No studies on humans were made before money was spent to promote Canola oil in the USA.

Adrenoleukodystrophy (ALD) is a rare fatal degenerative disease caused by a build up long-chain fatty acids (c22 to c28) which destroys the myelin (protective sheath) of the nerves. Canola oil is a very long chain fatty acid oil (c22). Those who will defend canola oil say that the Chinese and Indians have used it for centuries with no effect, however it was in an unrefined form (taken from "FATS THAT HEAL AND FATS THAT KILL" by Udo Erasmus).

My cholesterol level was 150. After a year using Canola oil I tested 260. I switched back to pure olive oil and it has taken 5 years to get it down to 160. Thus began this project to find answers since most Doctors will say that Canola oil is O.K. My sister spilled Canola oil on a piece of fabric, after 5 pre-treatings and harsh washings, the oil spot still showed. She stopped using Canola oil, wondering what it did to our insides if it could not be removed from cloth easily. Our Father bred birds, always checking labels to ensure there was no rapeseed in their food. He said, "The birds will eat it, but they do not live very long."

A friend, who worked for only 9 months as a quality control taster at an apple-chip factory where Canola oil was used exclusively for frying, developed numerous health problems. These included loose teeth & gum disease; numb hands and feet; swollen arms and legs upon rising in the morning; extreme joint pain especially in hands, cloudy vision, constipation with stools like black marbles, hearing loss; skin tears from being bumped; lack of energy; hair loss and heart pains. It has been five years since she has worked there and still has some joint pain, gum disease, and numbness.

A fellow worker about 30 years old, who ate very little product, had a routine check up and found that his blood vessels were like those of an 80 year old man. Two employees fed the waste product to baby calves and their hair fell out. After removing the fried apple chips from the diet their hair grew back in.

My daughter and her girls were telling jokes. Stephanie hit her mom's arm with the back of a butter knife in a gesture, "Oh mom" not hard enough to hurt. My daughter's arm split open like it was rotten. She called me to ask what could have caused it. I said, "I'll bet anything that you are using Canola oil". Sure enough, there was a big gallon jug in the pantry. Rapeseed oil is a penetrating oil, to be used in light industry, not for human consumption. It contains a toxic substance. Even after the processing to reduce the erucic acid content, it is still penetrating oil. We have found that it turns rancid very fast. Also it leaves a residual rancid odor on clothing.

Rapeseed oil used for stir-frying in China found to emit cancer-causing chemicals. Rapeseed oil smoke causes lung cancer. Amal Kumar Maj. The Wall Street Journal June 7, 1995 pB6(W) pB6(E) col 1(11 col in). Compiled by Darleen Bradley.

HAFD

Monday, March 14, 2011

Guest Post: Fixed Home Loan - A Popular Choice But Is It The Right One For You?

Fixed home loans are probably the most popular, and considered the least risky, home loan option that you can get. However, this option may not be right for every borrower. Just like an interest only loan is only right for certain people, the same can be said for a fixed rate home loan.

Should You Go With A Fixed Home Loan?
There are a variety of products to choose from in the home loan market. One of the most popular choices and the one that most of you will end up settling on is a fixed home loan. Fixed home loans offer a variety of features that many home buyers find desirable, specifically the stable, fixed interest rate that they offer. There are other options you might use, so look around. If you’re trying to decide if a fixed home loan rate is right for you, then here’s a closer look at what these loans offer you.

The maximum terms of a fixed home loan is thirty years, and features a fixed interest rate for the entirety of the loan. This allows borrowers to lock in a specific interest rate that can never change during the entire course of the loan.

The biggest benefit that comes with fixed home loans is the fact that the interest rate will never change. This means that you will know exactly what your payment is going to be, every single month. It won’t go up, it won’t go down. You will always pay the exact same monthly payment with your fixed home loan rate. With the market the way it is these days, a lot of people love the fact that they know their mortgage payment each month so that they can budget according to that dependable payment.

However, if you’re more comfortable with risks, then you might choose an adjustable rate mortgage. Unlike fixed home loans, these have payments which fluctuate with the official interest rate set by the Federal Reserve. This means you can take advantage of lower payments if you’re sure that you can handle higher payments that are sure to come in the future.

Ask Yourself These Questions To Find Out If A Fixed Rate Loan Is Best For You:
What Can You Afford?
Most borrowers will agree to an adjustable mortgage instead of a fixed home loan because they honestly can’t afford a home loan in the first place. They lie to themselves, saying they’ll be able to handle it later and they talk themselves into the adjustable mortgage, even though they can’t hope to afford it.

How Long Do You Plan To Live There?
The longer that you intend to live in your home, the better the chances you’ll benefit from a fixed home loan. If you go with an adjustable mortgage, you’re eventually going to see your payment go up as the interest rates change over time. However, if you don’t plan to own the home for long, an adjustable rate may be the way to go.

How Comfortable Are You With Risk?
Don’t like risk? Got with fixed home loan. Love risk? Then go with adjustable rate mortgages, but only if you’re confident that you can handle higher payments down the road. If you’re not sure that you can handle the higher payments that come with the higher interest, then you should look into fixed home loans. If you’re not completely sure you’ll be able to handle it, then don’t gamble away your home on the possibility.

Most home buyers will find that fixed rate loans are their best option for a mortgage. They’ll have the stability of knowing their payment every month without having to worry about jumps in their interest rates. This allows people to budget more accordingly, and always know exactly how much money they have at any given point. Adjustable mortgages can quickly throw you when your payment skyrockets in the space of just a few months.

About the Author
This article was written by William from Australia. If you are interested in contributing a guest post to PFStock, please contact the Email address listed in the sidebar.

Wednesday, March 9, 2011

Guest Post: Why Most People Lose Money Investing In Stocks

The majority of people who ventured into stock investing within the past decade have seen the value of their stock portfolios shrink dramatically. One of the biggest mistakes made by stock investors is to incorrectly assume that investing in stocks will be guaranteed money over the long haul. This is simply not true because the stock market acts irrational on a regular basis. Stock markets, domestic and abroad, share one thing in common: they tend to defy common sense. This article will give you vital information that will hopefully prevent you from becoming a statistic of bad investment decisions.

Since stock markets are created by people, they often exhibit irrational behavior due to the fact that they are simply a reflection of people’s emotions. The up and down oscillations of stock markets mirror the fear and greed present in the investors who make up the market. Because the basic human emotions of fear and greed can cause people to sometimes make irrational decisions, it makes perfect sense that stock markets will also exhibit this same behavior.

Why is it important to understand the role that investor emotions play in stock investing? Because profitable stock investing requires you to have a basic understanding of human psychology in order to help you stay separate from the crowd. When it comes to making money with stocks, the crowd is almost always wrong. In fact, the crowd must be wrong in order for the masses to transfer their wealth to the small minority who do make money.

How do you avoid becoming apart of the incorrect crowd? One way is to try and think contrary to what your initial instincts tell you to do with respect to stock investing. Most investors tend to sell their losing stock positions at a loss during bear markets. This commonly occurs because these investors read the current negative news at the time which ends up scaring them out of their positions. On the contrary, you should be looking to buy more undervalued securities during bear markets. Why? Because the overall U.S. stock market has always bounced back since it’s beginning. The people that make serious money investing in stocks are most concerned with buying stocks at great prices well below their actual value. These situations occur most frequently during bear markets.

Before you invest in any stock, it is important that you get to know the stock and its related industry. Read as much as you can about the stock’s earnings history, past price performance, industry news, and any upcoming product releases. You can find a lot of this information online for free. The more informed you are as an investor, the better investment decisions you will make. The only thing separating successful investors from losing investors is the fact that the former has better information.

Successful investors always manage their expectations in order to avoid making rash and emotional decisions about their stock investments. Avoid setting unrealistic expectations, or you will increase the chance of investing in overly risky companies. Prudent investors acknowledge that although certain companies offer extremely high rewards, the corresponding risks may be too much to stomach. Instead, focus on buying stocks in high quality stable companies that are earnings leaders or rising stars in their respective industries.

Companies that are releasing hot new products in untapped markets are great stock candidates. Wouldn’t you have loved to bought some stock in Apple well before the release of the iPhone? If you can find out this information well beforehand on solid established companies, you can potentially reduce your risk of investing in one hit wonders. A good sign of an established company is one which has been out-performing the overall stock market over recent years while pay a steady dividend.

Last but not least, always diversify your holdings. Have you ever heard the expression, “never put all your eggs in one basket”? This is one of the best pieces of advice when it comes to stock investing. Investing your dollars across several different and unrelated stocks will effectively spread the risk. It is important to invest in several different stocks simultaneously because this prevents you from having all of your investment capital in only one company. Not only should you diversify across stocks, but you should also diversify across industries and investment instruments (ex., treasury bonds). For example, simultaneously investing in energy stocks, retail stocks, health care stocks, and treasury bonds would be an adequate form of diversification.

About the Author
Monti Simmons is a private trader who has been trading since the 90’s. He is also the creator of the popular Carnivore day trading software that makes it easy for individuals to succeed at day trading using fibonacci trading principles.

Thursday, March 3, 2011

Guest Post: How to Lower Your Property Taxes

Owning your own home has been a dream of many people since this country was conceived. It is a form of freedom--to be the Lord and Master of your own domain. Unfortunately, it is costing more and more to hold on to that dream. Property taxes are on the rise, with no sign of relief in sight. If you're like a lot of people, you're always looking for ways to lower your property taxes. These tips may help.

Who Levies Property Tax
In looking for ways to cut your tax burden, it's important to understand who makes the rules. Property taxes are generally levied on the local level, usually by a municipal or county assessor. The assessor uses a set of rules determined by the local government to place a monetary value on your property. A portion of that value is what you owe for your property tax. Using a complicated system of property value and improvement value, the amount is determined. It is usually somewhere in the neighborhood of .5% to 4%. Some states are less, others are more. If you feel you're being overcharged--i.e. you think your property is overvalued--there are steps you can take to try and lower the property tax.

Learn the Rules
The first thing you should do if you think your property is overvalued is to find out how the assessment was made. Learn the criteria that were used to determine the property value. The best way is to contact your local tax office and speak to the assessor directly, by phone or in person. Ask them to explain how they came to the conclusion they did--what their system is to assign a taxable value.

Check Their Work
After you've found out how your property was evaluated you need to go over the information and determine whether or not a mistake was made in valuing your property. If the assessor simply made an error, then you can appeal and more than likely have your evaluation reduced. If all the assessor's calculations are factually correct, the next step would be to look into the comps--properties of comparable value. Many municipalities use comps to assess the value of your property. If you feel the comps the assessor used are unrealistic you can challenge the appraisal.

File an Appeal
In order to prove the assessors valuation was incorrect, you will have to compile a list of comparable value properties you feel more accurately reflect your property's true value. You'll be expected to present your appeal to an appeals board and explain why you feel the evaluation was inaccurate. Contact real estate agents and tell them your problem. They will be an invaluable resource in finding comparable homes in your area that will prove your property was overvalued. Put together a file that contains all the information you gather, including pictures of your comps. If your appeal is granted and your taxes are lowered, the price you pay the real estate agent will be well worth it.

Tax Deductions
Even if your appeal is denied there are ways of lowering your property tax--well it may not actually lower the tax, but you'll save some money nonetheless. By doing certain home improvements you can claim them as deductions on your federal income tax, and possibly on state taxes as well. Ask your accountant or tax attorney for suggestions on ways to take advantage of any deductions that may be available. If spending the money on an improvement to your home will actually save you money in the long run, you'll get a double benefit from it--the initial tax deduction and the prolonged use of whatever improvements you make.

About the Author
Guest post from Bailey Harris, who writes about car insurance. If you are interested in writing a guest post, please contact PF Stock at the Email address listed in the sidebar.

Tuesday, March 1, 2011

Guest Post: When Does a Hobby Become a Business?

If you or someone you know is a regular crafter, you may be familiar with the concept of selling crafted wares at fairs, school booths, websites like Etsy.com or eBay.com, or to people in general. However, did you know that your crafting hobby could actually be a business and therefore require you to acknowledge it in your taxes this year? If you have been making and selling your wares since at least last year, it is important for you to determine whether your hobby is still just a hobby (that happens to earn you a few dollars here and there), or whether it should be classified as a business.

Strictly speaking, a hobby is an activity that is conducted without the intent of earning a profit, whereas a business is any activity that is conducted for the purpose of making money. However, it can be tricky deciding exactly where your crafting hobby stands because some people craft and only earn a few dollars while others may earn hundreds. To determine what your hobby actually is, consider the following guidelines offered by the IRS:

Does your time and effort indicate an intention to make a profit? If you have devoted hours of each day into working and selling your wares, then you very well may have a business and not a hobby on your hands.

Do you depend on your crafting profits? If you need the money you earn from your hobby to support you and your family, then your hobby may actually be a business.

Have you ever changed anything in your hobby to make it more profitable? If you have ever made changes specifically to increase your crafting profitability, then you may be dealing with a business.

Do you know how to turn your hobby into a profitable one? This guideline is more vague, but if you or your spouse know how to turn your hobby into a fully functional business, such as if you already own a textile business and you sell custom garments on the side, then the IRS will be more likely to view your hobby as a business.

Does this hobby actually earn money? This one is simple if your crafting does not earn any money, then you do not have a business. However, if it does, no matter how small the amount, then you may have to classify it as a business.

Knowing where your crafting habit stands is important because every year, the incorrect adjustments and deductions of hobby-related businesses add up to approximately $30 billion in unpaid taxes, according to the IRS. In addition, those whose hobbies classify as businesses will need to obtain a local business license and state sales tax permit to legally operate. You may also be able to deduct business expenses on your tax returns, helping to save you some money that way. All in all, it is essential for you to correctly determine whether your hobby is just a hobby (where all of your sales are casual and isolated) or a business (where your sales are planned) so that you do not incur any legal ramifications.

About the Author
Lauren Bailey is a freelance writer who particularly enjoys writing about online colleges. She loves receiving reader feedback, which can be directed to: blauren99 @gmail.com.

Wednesday, February 23, 2011

CSN, Book Giveaway Winners

The winners in the CSN Stores giveaway, and the financial book giveaway on PFStock have been drawn. For the CSN Stores drawing, "Annette E" will be receiving a $40 CSN Stores gift certificate from PFStock. For the book giveaway, Brandy Byrne will receive a copy of the book "Psych Yourself Rich" by Farnoosh Torabi.

Congratulation to the winners! For those who didn't win, please check back for future giveaways. Also for the 2011 Tax Tips Contest there were five winners drawn over five weeks. I have compiled a list of some of the best tax and money saving tips that were submitted by readers.

Thanks to everybody who entered. Even if you didn't win a prize, I hope that you will continue reading PFStock.

DC

Tuesday, February 8, 2011

Tax Tips Giveaway: Final Week

The 4th of 5 winners in the PFStock Tax Tips Giveaway 2011 is Linda Fish. She will be receiving free H&R Block At Home Online Tax Preparation. If you haven't entered the drawing yet, please the is only one more chance to do so. The deadline to enter the last drawing is this Friday, February 11.

Here are some more user submitted tax tips that I've received:
  • My advice is to not lie about your income. Be honest and pay your taxes.
  • If you find you owe every year and adjusting your with holdings just isn't working out make sure to take the number you owe each year, divide it by the amount of paychecks you get per year, and stick it in a high yield online savings account. I say add at least $5-$10 more per paycheck so you have a cushion. In the worst case, you will have extra savings!

Please keep your tax tips coming, and good luck to everybody who enters. This contest will run through February 11.

PFS

Monday, February 7, 2011

How to Report a Class Action Settlement

In June of last year, I mentioned receiving a $628.65 check from E*TRADE. This was the result of a class action settlement in the case of Greenberg v. E*TRADE. To give some background, the settlement arose out of allegations that E*TRADE recorded telephone calls without notifying the other party that they are being recorded. When I received my check back in June, I was surprised at the amount of the settlement.

Last week, I received a 1099-MISC form that lists the amount of $628.65 as "other income". As I mentioned in my previous post, only people in California were entitled to the full $628.65. People in other states received one-fifth of that amount or $125.73. Did anybody else get a 1099-MISC for this settlement?

The real question at this time is "How is one supposed to report this payment on their taxes?" Some readers have indicated that they've received conflicting information about how to account for this windfall. However, I believe that the correct answer is to report it as "Other Income" (This is Line 21 on Form 1040). But, I want to ask my readers if they agree that this is correct?

Disclaimer: This discussion is for information only. PFStock does not provide tax or investment advice. I encourages readers to consult with a tax adviser if they have specific questions when preparing their taxes.

DC

Sunday, January 23, 2011

Tax Tips Drawing: Week 3

The 2nd of 5 winners in the PFStock Tax Tips Giveaway 2011 is "Shel". She will be receiving free H&R Block At Home Online Tax Preparation. If you haven't entered, please do so as soon as you can. Non-winning entries will be carried over to the next drawing. You only need to enter once to be included in all 3 remaining drawings.

Here are some of the tax tips that I've received so far:
  • I use the internet as a tool to make sure I'm claiming every deduction and credit that I can qualify for.
  • My father was an accountant and used to say the best thing was to break even every tax year and not give the government an interest-free loan of your money (by getting a refund). I know that I'd never be able to save the money otherwise so I always made sure to have plenty of tax deducted in order to get a nice refund check. Now I make that money work for me; I put some aside every year and put it into a CD.
  • I make sure that I organize all year. I have folders I make in January for that year's taxes so that come tax time, I don't have to hunt for my receipts and paperwork.
  • Contribute the most you can to a 401(k) plan at work.
Please keep your tax tips coming, and good luck to everybody who enters. This contest will run through February 11, with a new drawing every week until then.

PFS