The Pocket Change Investor #37 The Secrets to Getting Ahead - Even if You Have a Pile of Credit Card Bills, Hefty Mortgage Payments, Loans Out on a Clunker or Two, and a Bad Case of the "I'm Tired of Living Payday to Payday" Blues. |
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Happy Spring!
Greetings and welcome to our third free on-line issue! Thanks to all of you who have forwarded our newsletter to your friends. We've been thrilled by the response. What we've not been so thrilled about is the economy. There's lots of talk out of Washington and in the mainstream press about how business is improving. But is your economy improving? Whatever your political persuasion, it's no secret that most of us could use a bit more money and a lot less debt. That's where we come in! This issue's lead story is Practical Tactics: Save Money, Eliminate Debt, and Live Better on Less. We offer some of our favorite tips on tax refunds, late payments, 401(k)s, student loans, property taxes, produce, scams, computers, and more. To read the whole issue, click here, or click on the various links in this letter for specific articles:
Now that winter is almost over, we're itching to get our 2004 garden going. Over the years, we've learned plenty of practical tactics for making gardening easier and more fun. May some of the ideas we share in this issue of The Pocket Change Investor bear fruit for you in the coming months. Please let us know! And again, many thanks for recommending our e-letter to your friends and relatives.
Marc and I hope you have a great spring! Nancy
Nancy Castleman |
Traveling the Economic Highway
By Adam Eisenson*
You're flying down the road, making great time, when all of a sudden, traffic stops. Remember the 90's when the stock market was flying? Then all of a sudden, BAM!, the party was over. Protect yourself from financial accidents by recognizing that the economy moves much like traffic does. Consider these similarities:
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*Adam Eisenson, a fourth grade teacher, is the author of The Peanut Butter and Jelly Game, a picture book that helps children in grades K - 3 think about the difference between needs vs. wants, and about the virtues of careful spending. He's also a freelance writer, the father of two boys, and Marc's son.
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Sensing Car Trouble*
Editor's Note: We share the following in the hope that it helps to keep a few more clunkers like ours on the road.
Smells like Trouble Some car problems are under your nose. You can detect them by their odor:
Sounds like Trouble Squeaks, squeals, rattles, rumbles, and other sounds provide valuable clues about problems and maintenance needs. Here are some common noises and what they mean:
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*This is an excerpt from an article by the Federal Trade Commission, the National Association of Attorneys General and the American Automobile Association. Click here for more of their excellent tips.
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Book Corner
In every issue, we recommend and offer books that we think you'll find particularly helpful. They're well written, and full of concrete, timely advice, but often not readily available in bookstores. Not all are the kind you'd want to read, cover to cover, at one sitting. But we think they deserve your attention, nonetheless.
Our Good Advice Book Store reviews other important titles - on debt management, personal finance, estate planning, real estate, health, family living, gardening, and so on.
The Two Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke($26.00).
Elizabeth Warren and Amelia Warren Tyagi analyze what's sending today's two-income parents to the cleaners and show why "having a child is now the single best predictor that a woman will end up in financial collapse." Turns out, the culprit is not second homes, designer duds, and other forms of over-consumption. It's the desire to protect and educate our children that has us bidding up the cost of living a middle class life - in a home of our own, in a safe suburb, where we can send our kids to a decent pre-school, then on to "good schools," and finally off to a college that might end up costing more than the house. All it takes is one or two unforeseen events, say an illness, pink slip, or "Dear John" letter, and millions of families end up in financial disaster. Warren and Tyagi offer solutions worth considering. Brilliantly argued. Highly recommended.
Pain Killer: A "Wonder" Drug's Trail of Addiction and Death
($24.95).
Barry Meier, an award winning New York Times reporter, tells the story of OxyContin, a powerful, FDA-approved narcotic that its manufacturer touted as THE less addictive alternative for pain relief. Once OxyContin hit the streets, it was found to be highly addictive, contrary to marketing claims. When some of its abusers ended up in morgues, there were dedicated doctors, abuse counselors, and government officials who tried to control the problem. But there was also a multi-billion dollar drug company relentlessly promoting its product in ways that could only lead to more abuse. This book isn't a tale of good triumphing over bad, it's a powerful reminder of how difficult it is to fight against the evil twins of money and power, and how the twins often win, which in this case, makes it harder for the people who really need help managing pain. There's got to be a better way.
What About the Kids? Raising Your Children However difficult divorce is for the couple whose happily-ever-after fantasy is collapsing, it's way worse for their kids. For them, it's a trauma that often lasts a lifetime. While every situation is different, there's one thing most divorcing couples have in common: They have NO idea how to minimize the damage being done to their children, whether their kids are newborns or adults with families of their own. After more than 30 years of studying and following the lives of divorced parents and their children, Judith S. Wallerstein and Sandra Blakeslee provide answers to all the questions that divorced and divorcing parents should be asking for their kids' sake. If this book had been written a few decades ago, we might have done a better job in our own family. Fortunately, it's never too late to learn!
Broke! A College Student’s Guide to Getting By on Less
($10.00).
Trent Anderson and Seppy Basili have put together a great little guide (both in size and content) for college students. It covers everything from budgeting, food, and school supplies, to traveling, sororities/fraternities, and other forms of entertainment. The suggestions for saving money come from people kids will listen to - their paisans - current college students and recent graduates. Here's a piece of good advice that'll go down better from a junior at Notre Dame than it would from us or a parent: “Pay the entire balance of your credit cards every month. If you can’t do that, mail your card to your parents to keep until you have paid it off. Trust me, it works.” This book would make a great gift for a student going off to college.
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This issue of The Pocket Change Investor is dedicated to our niece, Arianna Eisenson, who will soon travel to Zambia as a World Refugee Academy volunteer in a camp for 30,000 Angolan refugees.
We take more than reasonable care to give you timely, accurate information. But before making major decisions, speak to your advisors. Private consultations available. We can help you get out of debt, simplify your lifestyle, get up to speed on a newly diagnosed disease, develop a Web site, publicize a book, service, or cause, or start a home-business. Tell us how we can be of service to you in a brief email. We'll get back to you asap. Editors and publishers: We're always happy for assignments! Let us know what you need and when.
Issue #37 ©2004 Marc Eisenson & Nancy Castleman Good Advice Press PO Box 78 Elizaville, NY 12523 |