Archive for January, 2008

Personal Finance Podcast Review: ABC Money Minute

January 31st, 2008

Name: Money Minute
Host(s): Lindsay Davis, Betsy Stark, others
podcast file type(s): MP3
Average File Size(s): 460kb
Average Length: one minute, eight seconds
Format (single concept, multiple concepts, multi-format): Single Concept
Production Quality (excellent, good, acceptable, bad): good
Type of Content (practical content, philosophical content): mixed
Site URL: http://abcnews.go.com/Business/
Feed URL(s): http://phobos.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?id=85744881 [again, ABC's entire podcasting section makes no mention of this, so this link works for iTunes only]
Subjective Review:
I hate it when news sources create ‘practical advice’. It just falls short and ends up being sensationalist. What I really want is practical advice and don’t wrap it in ‘end of the world’ sound bites. I listened to these four short podcast bits and am determined to keep moving on to find other podcasts worth my time and your time. This one just lacks content quality. There is some good advice in this podcast, but you have to put on your rubber boots, rain slicker, and heavy gloves to battle the acid rain of generalizations and extreme statements that come with this little podcast. I would not recommend it for the average person.

Context: I listened to the following dated podcasts on 1/30/2008: 1/24/2008, 1/25/2008, 1/28/2008, 1/29/2008.

I Know EXACTLY Why the Price of Gas is Up

January 30th, 2008

OK, not exactly, but one of the contributing factors has got to be theft. Today as I was filling my gas tank I looked over to see teenagers taking turns tapping on the fuel selection button about twice a second as the tank filled. Fuel came streaming out, but the price stayed at zero. I need to call the gas station and alert them to the fact. I didn’t know what was going on until after I had filled mine up and was driving off.

Slick, but sick.

Personal Finance Podcast Review: David Bach’s FinishRich Minute

January 30th, 2008

Note: This podcast may be defunct seeing as there have been no new episodes since September.  However, David’s name is well known and there is a good chance people will respect his advice if the show comes back online.

Name :D avid Bach’s FinishRich Minute
Host(s): David Bach
podcast file type(s): mp3
Average File Size(s): 1MB
Average Length: 1 minute
Format (single concept, multiple concepts, multi-format): single concept
Production Quality (excellent, good, acceptable, bad): excellent
Type of Content (practical content, philosophical content): practical content starting with an advertisement and then giving a short bit
Site URL: http://www.finishrich.com/db_minisite/finishrichminute.php
Feed URL(s): http://www.bigcontact.com/finishrichminute/rss
Subjective Review:
David’s material is well known, but I have somehow never really read his material.  The concept behind these podcasts is to give people a short little tidbit of financial advice so that they can do something quick and hopefully accomplish something in a financially savvy way.  The shortness of this material makes it hard for me to recommend.  Sure, a short podcast is easier to follow than a longer podcast, but I prefer a bit more depth.  Each podcast also pitches another product from David that costs money.  This is more about advertising than it is about your real personal finance well being.

Context:  I listened to four podcasts dated from 9/25/2007, 9/27/2007, another 9/27/2007 and 10/1/2007 on 1/29/2008

IRS Free File

January 30th, 2008

From an email I got earlier today:

Free File is an electronic tax preparation and filing program. For the sixth straight year, eligible taxpayers will be able to use the IRS Free File web site to prepare and electronically file their federal income tax returns at no charge. There are no hidden fees. Free File will be available to anyone who earned $54,000 or less in 2007. The site will be accessible 24 hours a day, seven days a week, beginning mid-January 2008.

http://www.irs.gov/efile/article/0,,id=118986,00.html

Handy to have this sort of thing available, I’ll be passing this along to others for sure.

OpenSecrets.org is a Great Place To Find Out About Politicians and Finances

January 29th, 2008

Nom, Nom, Gulp: Used from Creative Commons - http://flickr.com/photos/sterik/2092969737/

OK, that’s not so shocking. What is cool though is that there are sites like opensecrets.org that share things like campaign finance information – even if it is from past years. For example you can keep up on folks like Ron Paul, Hillary Clinton, Obama, and of course Mitt Romney, who is apparently quite wealthy on his own. You can check out the whole running crew, too.

As a voter, assuming you are one, this is a great way to look at the financial state of a campaign and make some conclusions about different organizations that donate funds. For example the list of top donors that includes AT&T (thanks for making communication so expensive, but turning that expense into political contributions, guys), the NRA, and various unions. You can also see what political party they favored here.

Personal Finance Podcast Review: WSJ Love and Money

January 29th, 2008

Name: The Wall Street Journal Love and Money
Host(s): Jeff & Amy Opdyke
Podcast file type(s): MP4
Average File Size(s):47MB
Average Length: 4 minutes
Format (single concept, multiple concepts, multi-format): Conversational discussion between a husband and wife about their family’s personal finances
Production Quality (excellent, good, acceptable, bad): good
Type of Content (practical content, philosophical content): Practical content
Site URL: http://online.wsj.com/public/us
Feed URL(s): http://phobos.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?id=213097337 [I couldn't find a regular site feed URL, apologies non-iTunes users]
Subjective Review:
There’s nothing like a husband and wife discussing finances together to make me smile. There is a reality to this video podcast as if the two involved are not scripted, but instead honestly discussing things. The back and forth video content is somewhat visually jarring at times, but is not so distracting that I feel put off by it. I can definitely see myself watching this bi-monthly podcast in the future – I’m staying subscribed. Not all of the content applies to my life (which is probably typical of any personal finance content: its personal), but the sincerity of the hosts makes this a very watchable video podcast. Jeff ends several of the podcasts with, “Bye, Ames,” which just closes the podcast off with a familiarity after only a few watches.

My favorite episode by far was the 12/21 episode discussing school fund raisers and the parents involvement. I side with Jeff :)

Context: The following dated podcasts were viewed/listened to 1/25/2008, 1/18/2008, 1/4/2008, 12/21 on 1/29/2008

Personal Finance Podcast Review: APM Marketplace

January 28th, 2008

Name: American Public Marketplace
Host(s): Kai Ryssdal
Podcast file type(s): MP3
Average File Size(s): 13.3MB
Average Length: 28 minutes
Format (single concept, multiple concepts, multi-format): Multiple concepts: introduction summary, news summary, news segments
Production Quality (excellent, good, acceptable, bad): Excellent
Type of Content (practical content, philosophical content): This is a radio show being re-used as a podcast
Site URL: http://www.marketplace.org
Feed URL(s): http://marketplace.publicradio.org/tools/rss/rundown.php?show_id=14
Subjective Review:

This podcast/radio show is only partially oriented towards personal finance. The subject matter tends to vary between business news, personal finance influencing news, and world market news. Its not a podcast for the person looking for very practical day-to-day information, but instead is good for the person trying to keep a big picture view on world financial news. I don’t really enjoy this sort of news program on a personal level because some of the recorded story bits included audio clips and sound bites with no context. It made the credibility of the assertions a little lower to me.

The audio clips between the different segments had some nice music, but that’s probably not the best reason to listen to a financially oriented podcast. A few of the audio segments carried some political persuasion and I would caution various listeners to be discerning if they subscribe.

Context: I listened to the following dated shows: 01/25/2008, 01/24/2008, 01/23/2008, 01/22/2008 in one day.

Good Cof, Bad Cof

January 28th, 2008

Yesterday I spent approximately fifteen dollars on coffee.  An excessive amount, I know.  But it was an experiment.  I’m a coffee snob – not a Starbucks coffee snob, but a roast-your-own-beans if you can (I can’t because my roaster died and I haven’t had it repaired yet) type of coffee snob.  So I decided to test out the difference between the cheap 24 ounces for $7.99 coffee verses the $11.99/pound freshly roasted stuff at my local Whole Foods.  Here’s my dilemma: I, as a snob, need to figure out the cheapest way to consume high quality, tasty coffee.  Here’s what I’ve come up with so far:

  •  Cheap coffee always tastes bad to me
  • Starbucks coffee usually tastes funky to me (burninated) so its out
  • The cheaper good stuff at whole foods is still $10.00 a pound
  • Yes, I can taste a significant difference between a fresh roast and a not-so-fresh roast
  • I like medium roast coffees the best
  • I refuse to do various things to thin out the coffee ground usage: if you’re going to have coffee make sure it isn’t garbage.  If you’re looking for cheap caffeine go with tea – it’ll still taste good, but not have nastiness like cheap coffee.
  • I need to fix my roaster because then the beans can be had for several dollars a pound instead of 12 dollars a pound
  • I do like Peet’s coffee, but it is as expensive, or more expensive than Starbucks

What things do you do to make sure you get a little luxury, but at a frugal price?  Do you let yourself have a little luxury?  When you go to the store do you wrestle with these things?  I tend not to, but I find that when I have to buy coffee (which I actually drink sparingly contrary to what this post may imply) I convince myself to spend more every time.  My expensive/cheap experiment proved again to me that I can taste a difference and prefer the good stuff.  Help!

Gazelle Like Intensity

January 28th, 2008

Last night, and the night before, and the night before that I was up until past midnight.  Working.  You see I’m attempting to wrap up two side-jobs in an attempt to pay off debt faster.  Faster than I would be able to pay them off if I was just working for my normal big client.  It eats into family time.  It eats into time to do things like blog on the many blogs I have (I’m rather embarrassed to say I have five), it eats into time that I have committed to doing other things like Sunday School preparation.  But I’m focused on doing it because I’ve got to get it done.

Dave Ramsey calls it Gazelle-like intensity, I call it focus, and the reality of things is that if you don’t have the drive to get out of debt, you’ll simply be in it for a lot, lot longer than you would otherwise.  Possibly thousands down the tube in interest payments and weird fees.  My buddy worked 90 hours a week for about six weeks to get the major thrust of his debt paid off.  I can’t manage that due to various limitations on my body, but it was the very same drive to have the debt behind me that pushes me to work extra side-jobs.  There’s no reason not to just dive in and get it done.  Yes, it will cost you time and friend and family time in the short term, but it may gain you that back afterwards and if you add financial liberty to free time… you’ve got something.

Ten Things To Do With Your ‘Economic Stimulation Check’ the US Government Won’t Like

January 25th, 2008

The government’s attempt to give you an early tax refund (even if you don’t need one) which they’re calling ‘economic stimulation’ is a farce for the most part: I may get $600.00 for my family, but I’ll be paying it back in my quarterly taxes. Oh, boy! Here’s a list of things that will not stimulate the economy and bust the intended use for the checks:

  1. Stick the check in the bank
  2. Pay the check back to the government as a quarterly tax payment the following quarter
  3. Pay credit card debt (and not regain that debt on the card)
  4. Go on an international spending spree
  5. Buy Anime on eBay… from Japan
  6. Frame the check and put it on your mantle like the head of a dead dear
  7. Give it to a charity that will buy goats for Haitians
  8. Invest in lead testing kits for the Chinese toys your children have
  9. Drive to Canada and buy cheap meds
  10. Use it to move to Canada where their looney money is worth more

What are you going to do that’s financially wise, but not necessarily intended by the Gov’t.?