I had been checking on our economic stimulus check status regularly at the beginning of this month but hadn’t looked for an update in a few weeks.

I was happy to see that our rebate check actually came through via direct deposit about a week and a half ago.  We’re using the check to help fund our vacation this summer, which is getting closer, so I was pleased to finally see the balance in our bank account! Now I can afford that flight on our private jet, kidding of course : )

I know some of our neighbors and co-workers still haven’t received their rebate checks and are starting to get a little worried. It is a nice chunk of money, we received $1500, so I can understand why everyone is anxious to get it.

When they ask me for advice on their rebate I just point them to the details I found, how to track your economic stimulus payment. I remind them there are different qualifications for getting paid and refer them to the post frequently asked questions for economic stimulus rebate checks.

I’m just glad that ours has arrived. We’ve already charged our hotel stay for the trip to our AmEx Blue Cash card so the payment will come due here in the next few weeks.  We have the money to cover it even if the rebate check had never arrived but now it will be easier to pay the bill since I won’t have to move money out of our ING Direct account to cover it.  Now we just have to count down the days until vacation!

I guess by now nobody cares if I am around … so this would be just to motivate myself to write a little more.

Looks like the site was down for a couple of months after some screwup with Wordpress/Hostmonster/Upgrade/That-Kind-of-Crap; so it took quite some efforts to get it back on track. Now, it looks all messed up so it will be a while before it looks pretty again.

Hoping to see some old friends again.

Geezeo joins the ranks of Mint.com, NetworthIQ.com, and Wesabe.com as a social personal finance site. The USP (unique selling point) of the site is their mobile accessibility.

It works like this:

Henry’s walking down the street. He stops and wonders if he’s got enough for a Big Mac. He sends a text message to the ether and waits. Moments later a text message comes back with all of my account balances that he setup at the website. Welp. Looks like Henry will have to go another day without food.

It’s targeting students or recent graduates for their service but anyone can use it. They target them because they’re more “connected”. It’s also US-only. Sorry Canada. They have compatibility with 6000+ institutions.

Here are a couple of improvements I would make:

1. Instead of texting the word “geezeo” to get current account balances, make it a common word that I can enter without switching to “abc” mode.
2. Instead of texting the word “geezeo update” to update my balances, it should already be updated when you retrieve your current account balances (see item 1).  Why would anyone want non-updated information?  Deprecate this.
3. Send a pie chart or graph or something via MMS if possible.

There are more things but here’s the one sentence summary: “Geezeo tracks your money automatically and there’s also discussion boards as well.”

Is it useful?  Sure.  Consistent awareness of your financial situation is very important for building wealth or getting out of debt.

Will I use it?  Probably not.  Calculating my net worth at the end of the month is good enough for me.

-h

PS - Sorry about the absence.  I was doing pull-ups this entire time.

Sponsor: Brohans Video Blog - It’s Like Binary Dollar. Except you don’t learn anything.

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Even Though Real Estate is Gloomy, Opportunities Will Present Themselves

The negative news in the real estate market continues. Every week it seems like a new report is out highlighting record drops in home sales, lower home prices, and more difficulties in obtaining a loan. For those who already own a home, or are trying to sell their home, this is obviously a difficult time. I don’t want to dismiss the hardship that this crisis has created, but I am glass is half full kind of guy, so I wanted to highlight some of the positive aspects of what is going on.

Looking Ahead a Few Years

When will the real estate market settle down? That is the million dollar question right now, and there are a lot of different thoughts. And to make things more difficult, some areas of the country will begin to rebound faster than others, so without a crystal ball, the best we can do is guess. That being said, I think it’s fair to say that it will be a while before we see any significant improvement. Whether it’s a year or two, or five years from now, it doesn’t really matter. Trying to pick the absolute bottom is like trying to pick the day the stock market bottoms out. If you’re a little early or little late to the party, you’ll still be fine.

So, if you’re thinking about buying a house in the coming few years, you have a tremendous opportunity in front of you. In many cases, you could buy a home right now at a 25% or more discount from just a year or two ago. As prices continue to fall in coming months and years, you should find even steeper discounts. The good news is that there is no rush in buying. Even if home prices do begin to stabilize earlier than expected, they won’t immediately spike back up, especially with the excess inventory out there. This means that you’ll have a pretty long window of time where you should be able to buy your home without being concerned about skyrocketing prices or strong demand.

Start Getting Your Credit in Order Today

Even if you don’t plan on buying a home for another few years, it is never too early to begin thinking about your credit score and the effect it will have on your ability to secure lending. Banks have learned their lessons (at least I hope so), and that means we’re returning to times where credit is harder to get, and those with poor credit will find it extremely difficult to obtain financing, or may pay a significantly higher interest rate. This makes having a clean credit history more important than ever.

When it comes to improving your credit score, it’s important to have time. This is why it’s a good idea to start planning as early as possible. For one, if you have negative marks on your credit report, the only thing that will remove them is time. In most cases, seven years, or ten if a bankruptcy. So, check your credit report and look for negative marks. How long ago were they? If you have a late payment showing up five years ago and think you’ll be buying a house in about three years, it looks like that would be removed, and improve your score once it’s time to apply for a loan.

Even if you do have more recent dings on your score, the good news is that their importance diminishes over time, so that is still in your favor. Just make sure you don’t make any more late payments! In addition, if you have a few years yet and you currently have very little credit, you have time to open or close lines of credit as needed in order to maximize your score. Remember, length of credit history is also very important, as well as what types of credit you have, and the credit utilization. This gives you time to maximize those aspects of your report as well. Use this time wisely, and don’t wait until just before applying for a loan to begin thinking about your credit score. And don’t forget to check out these tips on how to improve your credit score.

Think About the Down Payment

In the past, it was common to put 20% down on a home. In the 90s, with rapidly increasing home prices and easy access to credit, this became less common, and many people were able to get attractive financing with little or even no money down. Of course, when your home is expected to increase in value by 20% each year, it made sense. As we’ve seen lately, having equity in your home from day one has many advantages, especially when it becomes clear that home values don’t always increase each year. Not only that, but putting 20% down can get you out of paying private mortgage insurance, or PMI. This keeps your monthly payments low, and helps you put more money in your pocket.

That being said, more banks are now requiring money down. There are still plenty of offers out there for zero or low down payment loans, but you’ll need even higher credit scores, and might pay a premium for those loans. Bringing money to the table will help you if you have less than perfect credit, and will help ensure you’re getting the best rate.

This doesn’t mean you have to spend years and years trying to scrape together $50,000 or more, but you have enough time to begin thinking about a down payment and to start saving up now. If you’re looking at a home purchase in the next few years, just saving a couple hundred a month can make a good dent in your down payment over time. Again, time is on your side here, and the sooner you can begin taking advantage, the better off you’ll be.

Don’t Screw This Up

If you don’t own a home and want to buy, or are thinking about upgrading in the coming years, this is a tremendous opportunity. You have just enough time to get your financial house in order so that you will be able to take advantage of the decline in home prices. Use this time wisely, and don’t screw it up. If you wait until the last minute, you’ll miss out on plenty of areas where you could maximize your purchase.

And above all, don’t make the same mistakes people have made in the past. Once the economy begins to recover, the stock market takes off, and home prices begin to rise again, it’s easy to forget about what got us into this mess. Remember, you buy a home for a place to live first and foremost. Find a home that is suitable for your needs, and understand exactly how much home you can truly afford. Don’t borrow too much, and don’t put yourself at further risk by taking on an exotic mortgage. And most of all, don’t go into your home purchase expecting the value to double in five years.

If you plan ahead, stick to the basics, and don’t get greedy, you’ll find yourself in a fantastic position. You’ll have a nice roof over your head, you’ll be able to weather future economic troubles, and since you were able to buy at a significant discount, you might even stand to make some money when you sell in the future. Opportunities to learn from past mistakes and to take advantage of relatively low prices don’t come along that often, so make the most of it.

Image credit: TheTruthAbout

Prospective Home Buyers, This is an Opportunity of a Lifetime - Don’t Screw it Up

With a divorce rate of around 50% and many people not marrying until they are in their thirties, it is surprising to find that there are still many women who aren't financially educated. Most of this can be traced back to two factors: upbringing at home and society. In both cases, boys have often been given much more training and many more resources than girls have and the effects are damaging women financially today as they face a world in which they have to take care of monetary issues on their own but have never developed the skills to do so.

The Safe, Secure 1950's

In the 1950's most women quickly married and settled down to raise families. Very few of them worked outside the home, and finances were handled by the men. It was a financially prosperous time and women were expected to focus on the home and child-rearing. This focus on home-making was passed on to daughters while sons were groomed to the "breadwinners" of the family.

The obvious separation between girls and boys activities also managed to keep girls "sheltered" from financial concerns. They weren't expected to pay for anything on a date and parents didn't often expect them to hold down jobs. Boys, on the other hand, were expected to get a job at a young age, even if it was merely a paper route. The expectation was that a young man needed to "take on some responsibility" and "contribute."

As the generation raised in the 1950's grew up and raised families of their own, they passed on the financial biases that had been instilled in them to their own children. Many of today's parents have made the same mistakes their own mothers and fathers did, ignoring the obvious need for women to understand and learn to handle their own finances in favor of hoping that their daughters wouldn't have to face the harsh financial facts of life.

The belief that men would take care of women's financial needs was so ingrained that many of the "big picture" financial lessons were overlooked. Women tended to learn how to shop for bargains at the grocery store, stretch the budget at the holidays and that was about it. More complex lessons such as long-term investments, retirement planning and stock portfolio development were not a part of the picture.

Boys learned how to manage their money, save for a rainy day, and make smart investments and a host of other financial strategies.

Play and School Contribute to Gender Gap

Interestingly, boys more than girls tend to develop habits that are more geared toward understanding numbers and how they relate to finances from a very young age. While girls tend to be "collectors," says Joline Godfrey, founder of Independent Means, "boys develop informal economies based on relative value from the age of six on while trading cards and other items. By the time boys start trading stocks and bonds, it's just another form of the game." Independent Means is a company which promotes economic independence and growth for girls and women aged 14 to 24.

Even in school settings, boys are rewarded more consistently for being risk-takers, and investing is often perceived as a risky venture. Girls aren't encouraged to take risks and aren't rewarded for these types of behaviors and instead are likely to be cautioned to be careful. When faced with the prospect of learning about investing in the stock market or learning about retirement options, these same girls - now women - are more fearful of making decisions and less sure of themselves in making choices for themselves.

Statistics Show Gender Bias

A recent survey showed some startling discrepancies even today between teenage boys and girls and how much education they have received in the very basics of finance. Some of the findings include:

* Many more teenage boys than girls report understanding of how to write a check and how a credit card works, including accrued interest. * Teenage girls are much more likely to be in debt than boys, with almost 50% reporting credit card debt as opposed to less than a quarter of teen boys having any debt. * Girls are more likely to report that learning about investing is boring, while boys report a real interest in learning about it. When asked to elaborate, girls often pointed out that this wasn't something they would be doing in the future, while boys indicated that it was important to learn so that they could be successful.

The perception that girls shouldn't have to worry about their financial future in the long term (based upon the faulty premise that a man will take care of her or that she can hire a financial consultant to handle all of the boring stuff) is still present in many homes. Fortunately, the balance is beginning to shift as more parents realize that women who are successful in their careers must also be able to guide their own financial futures, not rely on others to do it for them.

Programs Aim at Closing the Gap

Today's girls are more likely to learn how to handle money at a young age. Cautionary tales in the news and on talk shows about women left destitute and the fear that social security can no longer support an individual in their golden years has, perhaps, contributed to this. After all, with most women outliving their spouses and more than half of women divorced, it's likely that today's girls will be supporting themselves in their retirement years - understanding Roth IRAs suddenly becomes very important.

Companies and organizations are also stepping to the forefront with programs designed to educate teens in general and girls in particular. Boys and Girls Clubs of America, in collaboration with Charles Schwab, offer Money Matters: Make It Count programs in cities across the country.

Visa works with Girl Scouts of the USA to provide two resources, the Cashin' In workbook and the Makin' Cents web game, to teach girls aged 13-17 financial responsibility. The web game specifically challenges players to find real-world solutions for characters' financial challenges.

With such programs increasingly popular and the need for women to understand finances now a hot topic, it's to be hoped that this generation of fathers will teach their daughters as much about finance as they teach their sons.

Carrie Carter: Author of: Think Your Way to Riches Kids' Style

For more information or to arrange an interview with Carrie Carter at 810.252.2281 e-mail: carrie114cr@aol.com or visit: www.ThinkYourWayToRichesKidsStyle.com

Carrie's passion is to help people on their inner journey to discover their personal road map for abundance, peace, and happiness. Her main passion is to give children worldwide the "Tools" which are lacking in the normal educational system and understanding to create the abundant lifestyle they are all worthy of. Experience Carrie's educational seminars, workshops, and private life coaching.

About the Author

Carrie's passion is to help people on their inner journey to discover their personal road map for abundance, peace, and happiness. Her main passion is to give children worldwide the "Tools" which are lacking in the normal educational system and understanding to create the abundant lifestyle they are all worthy of. Experience Carrie's educational seminars, workshops, and private life coaching.

There is so much bad news floating around, so much to be worried or angry or upset about in the world. However there is a lot to be grateful for as well, so I thought I would take a moment and count a few blessings. This may be a bit late, considering Thanksgiving was a week ago, but I suppose it is never a bad time to be grateful.

A few quotes on the subject I have read recently:

“Life isn’t fair, but it’s still good.” - Unknown (to me)

“To be grateful is to recognize the love of God in everything He has given us-and He has given us everything.”-Thomas Merton

Now you may not be religious, but that last quote really struck me when I read it. It reminds me to take the bad with the good, and to appreciate it. It might seem wrong or even stupid to try to appreciate what seems unfair, bad, or even evil, but it is possible - and important. We can learn and grow and change for the better as a result of every experience - be it sickness, recession, job loss, or even death.

I once overheard my mother say that having cancer was a huge blessing. I recoiled, but she explained that it brought our family closer together and made her realize her inner strength. Remembering that comment has always kept me in check when I find myself whining or self-pitying.

Things for which I am grateful:

• Having a job and a regular paycheck; not everyone does right now.
• Not having to worry about where I’ll get my next meal or bath.
• Having the means and time to give to others who need support.
• A large family which supports and uplifts me.
• The freedom and ability to learn and pursue whatever I choose.

Many in our country are struggling, some for the first time, as our economy sags and companies lay people off and wages stagnate. Of course we are all still much better off than many in the world, but is still natural and easy to worry, to complain, to be angry and even scared.

But struggles can bring us together, and they can encourage us remember what’s really important - what matters a lot more than the 401k balance or the big bonus check. I hope as this volatile year comes to an end that we can all find some things to be truly grateful for.

More from Meg at The World of Wealth

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From Seeking Alpha’s Sound Money Tips . . .

” . . . Don’t put originals wills, trust instruments, or powers of attorney in a safe deposit box. Instead, keep these in a fireproof safe at home or at your attorney?s office.

Why? When someone dies, a safe deposit box may be sealed for weeks, which could result in result in delays. You might even have to spend money securing a court order to open the box. Further, and here’s the Catch-22: the will’s executor will not be able to get to the box without the will that shows that he is indeed, the executor, resulting in headaches and delays.

So, just to be clear: Don’t put original copies of legal documents in a safe deposit box if they will be needed by anyone who cannot gain access to them. As we said before, feel free to put copies of legal documents in the safe deposit box . . .”

Good info. Of course, if you don’t have a will, that’s your first priority!

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Own rental property? Are you aware of all the tax implications (and opportunities) available to you?

Check out CompleteLandlord.com.

This site is a great resource for landlords offering tips and advice to make sure you’re making the most of your rental property.

For example, while many landlords know they can deduct all the interest on a mortgage used to acquire or improve a rental property, some don?t realize that if they pay off the mortgage early and are charged a penalty by the lender, the IRS allows them to deduct that penalty as interest.

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This is not a political blog, but perhaps I am a bit cranky after losing electricity and water for 5 days, so I will let this one slip by.

So here goes:

Image source: http://codenameblogtastica.blogspot.com/

…. he killed a helicopter with a car, and then he walked bare-foot on broken glass, and then he fired a few people, and then he suspended whatever that was going on and proceeded to Capitol Hill to beat the crap out of bad dudes and to rescue the economy.

Oh wait… it’s McClane not McCain you idiot. Oops! it’s probably the uncanny similarity between the looks of Mr. Willis and Mr. McClane Mr. McCain that confused me.

I don’t mean any disrespect, but I had to get this out because I actually had a dream of John McCain hanging “suspended” upside down in New York’s Central Park right above a huge pile of money (that looked like it was about $700 billion). I woke up a little scared and then realized that it’s because I read about David Blaine’s stunt before going to sleep last night - while I was being constantly bombarded by television commentary on McCain’s suspension of his campaign (or whatever - didn’t look much of a campaign anyways) and the $700 billion bailout.

You can imagine the kind of maverick-ish impact Mr. McClane Mr. McCain is having on me.

Anyways, with that out of the way, there is something else I need to say. It has recently come to my attention that some people don’t really know how many zeroes are there in a billion! That calls for a little bit of elaboration on the numbers you might hear in the next few months.

$700 billion = $700,000,000,000

300 million = 300,000,000 (as per Google search, the actual number is close to 301,139,947 - go figure what this number is)

Now, $700,000,000,000/300,000,000 = $2333.33 per person

As per 2006 tax figures, there were 135,660,228 tax returns filed.

Now, $700,000,000,000/135,660,228 = $5159.95 per tax return

Some other numbers to put things into perspective.

For the year 2007, AIG CEO’s (Martin Sullivan) monetary compensation was $13.9 million ($13.9 million = $13,900,000)

Earlier this year, most people I know received economic stimulus payments that ranged between $600 and $1200

Happy Thanksgiving everyone!  I’m thankful to be able to write this blog and that I have you as readers.  (And of course I’m thankful for many other things.)

The four articles that Gary North published today on his website are free for anyone to read today.  You’ll find them in the Recent Articles section.  These four articles are centered around the topic of Thanksgiving.  These articles are good advice for anyone.  I don’t know how long they’ll be free, so even if you don’t read them today, just go over and print them out.  Gary North is a big influence on how I think about the economy, investment, and a host of other things.  So, there you go.

Have a great day filled with thankfulness.

Below is an email interview with Brent Kessel, author of It’s Not About the Money: Unlock Your Money Type to Achieve Spiritual and Financial Abundance*, a book that I reviewed earlier this week.

Why did you decide to write a book?

Without wanting to sound cliché, I never really feel like a made the decision. I had observed so many people suffering around financial issues, and barking up the wrong tree, as it were, that I felt compelled to write it. It was one of the easiest things I?ve ever done professionally.

What do you think is the number one reason people fail financially?

They don?t understand what payoff their financial habits are giving them. If they?re chronic overspenders, there?s a need that their purchases are filling, an emotional need, and buying purses or cars or new furniture allows them to feel good about themselves for some time. In order to change the financial habit, they have to replace the payoff with some other payoff that fills the same need. But most people never question what?s motivating their financial habits.

You say in your book that the ideal person would be balanced among the eight financial archetypes. How do you recommend a person obtain that balance?

It?s very difficult work, but very rewarding. It?s very hard to answer this question in a generalized way, which is why there are about 60 highly customized exercises in the book, so that each archetype can create the balance that they need. One way to say it, is that we often need to cultivate the positive attributes of the archetype which is most dormant in us. So for me, that?s mostly been the Innocent. Being willing to have faith and trust that things will work out, without putting quite so much focus on the numbers, given that I?m a Guardian/Saver/Empire Builder predominantly.

Which of the eight archetypes do you think is most prevalent in today?s society?

Pleasure Seeker and Innocent were prevalent until Summer 2008, which is why we?re in this mess. Today, it?s much more Guardian and Saver. People seem to be returning to the values of the ?30?s ? 50?s, but we?ll see how long that lasts.

How do you explain the archetypes to your clients?

I usually don?t. This is part of why I wrote the book, so that they could read the complete story about each archetype in there. As an example, I?ll more intuitively give a client ?homework? to spend more money on things which bring sensory pleasure, in the case of an overly frugal Saver, or have an Innocent hire a bookkeeper or sign up for an internet-based service like mint.com which shows them where the money?s all going.

What is the typical response from your clients once they learn about the different archetypes?

?Wow, I had no idea you had me so pegged.?

Do you ever have clients who deny the findings?

?Not really. The most I?ve had is someone who felt they couldn?t find themselves in any of them, which is usually a sign of the Innocent. Some people feel that they?re a balance of many, or that it?s constantly changing. Both of these are good signs.?

Once you know a client?s financial archetype, how do you cater your financial advice to fit the archetype?

Again, this is very customized. The Appendix of the book has specific financial planning recommendations tailored to each archetype, and it?s many pages, so it?s hard to summarize. But one example might be to have a Pleasure Seeker sell their vacation home and art collection and deploy that money in more income-producing assets (which don?t produce sensory pleasure), like stocks, bonds, or income properties.

Since writing the book, do you find yourself trying to figure out the archetypes of the people you meet?

Sometimes. It?s mostly intuitive though. If you go to my first MSN story, there?s a video of me walking around Central Park interviewing people and guessing their archetypes. Kind of humorous. The other stories there may give you some good blogging ideas too.

Finally, is it natural for a person?s archetype to change over the years or do people tend to stay the same throughout their lifetimes?

The healthiest people I?ve met with money are able to express different ones at different times. But there?s a whole class of people who, especially when the going gets tough, go back to their tried and true archetypes. Financial habits are hard to break, because unless we very intentionally try to cultivate those which have been dormant, they?ll stay dormant.

Thanks, Brent!

Also, I want to go ahead and announce the winner of the “It’s Not About the Money” book giveaway. There were forty-nine entries and the randomly-selected winner was commenter #31, Walter. Congrats, Walter. I hope you enjoy your book!

I have another giveaway coming up soon. Stay tuned…

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