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September 7, 2005
Let Them Eat Cake
September 7, 2005
Let Them Eat Cake
I read this post on Being Poor yesterday and I wanted to share it. It's an emotional reminder that some people don't have the luxury of putting away that extra dollar a day. Frugality is not a lifestyle choice -- it's survival.
"They could stop, if they really wanted to."
One thing I read over and over in that post and the following comments is how useless it is to tell people to "stop being poor". It's not that simple, they say.
Continue reading "Let Them Eat Cake"
Posted by Frank at 11:28 AM | Comments (14) | TrackBack
September 6, 2005
Wealth is Not About the Income!
A review of The Millionaire Next Door
Long after I started getting responsible with my finances, I thought that in order to achieve real wealth, I needed to earn an extraordinary amount of money.
At a certain level, that's true. You'll never become a billionaire by pinching pennies alone. And to become a millionaire, it certainly helps if you earn a healthy salary and are disciplined about saving it.
But when I read The Millionaire Next Door, it completely changed my assumptions about what it takes to become wealthy. Nothing corny like "it opened my eyes and changed my life". It just introduced me to a new idea -- that anyone can acquire wealth -- and provided research to back it up.
Continue reading "Wealth is Not About the Income!"
Posted by Frank at 7:59 AM | Comments (8) | TrackBack
September 2, 2005
What is the Difference between APR and APY?
As I was getting out of debt and began to accumulate some money that I actually wanted to save, I came across some banks advertising their APR (annual percentage rate), and some their APY (annual percentage yield). Not having a background in finance, I found this a little confusing. What exactly is the difference between them, and which one should I pay attention to?
Continue reading "What is the Difference between APR and APY?"
Posted by Frank at 9:06 AM | Comments (5) | TrackBack
September 1, 2005
Hurricane Help
The suffering caused by disasters like Hurricane Katrina have an ironic way of bringing out the good in people. It reminds us that we're all in this world together.
If you want to help, there are charities that have organized relief efforts, bringing volunteers and supplies to where they're needed most. The most effective thing we can do is donate money to one of these charities. It doesn't have to be much -- the small gestures of a million people add up to something truly significant. This is something worth spending a little money on!
Thanks to fivecentnickel for providing a link to the American Institute of Philanthropy, which grades charities based on the portion of donations that goes directly to providing service, and their efficiency in raising funds.
There, you can find an appropriate organization that can most effectively use your donations. There's also a guide to help ensure your money is used appropriately and as you intended. I encourage you to check it out.
