Personal Finance in One Page

Get Rich Slowly

Evrything You need to know abt money

Ready for Zero = Helps You Get Out Of Debt

Ready for Zero is an application similar to mint.com but very good one if you have debt to deal with.

This information is Courtesy: Lifehacker.com

Personal Finance Application For iPhone, iPad Users

I am a big fan of Mint.com but i came across Pageonce application which looks promising. The reviews look good and i haven't tried it yet. Keep me posted if you like or dislike it. 

Free Gifts from Banks

Linky

Credit Report Free of Charge Once a Year

Annual Credit Report

Shopping Credit Card Made Easy

lowcards
As per their website: LowCards.com simplifies the confusion of shopping for credit cards. We constantly analyze over 1000 different credit cards and write objective opinions for consumers. Due to this objectivity, LowCards.com has been rated as one of the best credit card comparison sites in the nation.
http://www.cardhub.com/
This website helps us find not only good credit cards but also gift cards and prepaid cards.


Other sources: 
creditcards.com

0% Balance Transfer and Zero Fee Credit Card From US bank

Follow the link to apply, if accepted then ask for increase in credit limit. Once you have a good credit limit call them for 0% Balance transfer offer. Linky


Note: Click learn more for each card to see the details.

Mobile PayPal Money Transfer

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Now it is easy to send money to friends and family through your mobile phone. (Some mobile phones support this feature). You need to download the application and activate your phone to use this service.More details -- Linky

Lessons I Learnt About Investing

Dreamstime

Investing is not trading and I understood that after a couple of mistakes. Investing is basically buying a business and in this case buying a part of business. Investing is definitely not gambling but trading is. In the long-term, one can make lot of money through trading (gambling) but will eventually lose most or all of it. The right way of investing is to pick and choose a right stock that has a future and demand for its products and then invest some money on it. Like any personal business, it takes time to grow and so have some patience. Too many clicks of your mouse to buy and sell take away the advantage of growth. It is very important to buy good stocks not cheap stocks (because the price is low). Once you buy a stock, keep it for a long time and have a goal for that stock. Say, you want to sell a stock after it doubles and that is when you sell that stock and make some profit. Remember emotion is the enemy and time is your friend. Too many trades ruin the game and it becomes a speculative game rather than growth game. If your stock falls below certain level, sell it to avoid complete loss (say your stock is going bankrupt). In general, it always pays to wait and wait until you get what you want. As warren buffet said, never lose money and it is true. Do a lot of research about the business you are interested in and once you buy, stick with it no matter what TV reports or Internet reports or friends say? Nobody knows what will happen tomorrow and I mean nobody; even Warren Buffett. So always do your research and go on with your gut feeling. Set some filters in choosing a stock and if the stocks you are interested in pass through them then you buy. Up’s and Down's are common and so understand and accept the trend. There are more lessons to be learned and i will write in coming times.

What Kind of a Saver are You???

Never delay investing just because you do not have enough money. No matter how small start investing for future. With time, value of money goes down so it is important to grow your finances.  


Image: Lifehack.org

Basic Steps To Manage Bank/Credit Card Accounts

1. Add all your bank/credit/brokerage accounts to mint.com or yodlee or quicken etc
2. Download mint application on your iPhone or other smart phone (if you have one)
3. Set up minimum payment on due date to avoid late charges
4. Pay off balances - minimum payment if you get a chance to pay before due date
5. Use only one or two credit cards a month to avoid multiple payments
6. Monitor your transactions everyday on your mint
7. Call customer service on regular intervals to get lower APR

Letters of great significance

Below is the link to the letters written by Mr.Warren Buffett to his stock holders. He usually writes a letter every year and i think its is fascinating to read them from 1977 until 2010 (present). Market has gone through ups and downs since 1977 but Mr.Buffett had mostly Ups than Downs, so it is worth reading to know how he responded to the bear times and bull times.


Linky

US Mint 1$ Coins

I usually buy US 1$ coins from www.usmint.gov  in the amounts of 250 or 500$. The purpose of buying is to collect coins and also a good way of getting cash back on your credit card (1% to 2% depending on your CC). I use my master card to get some thank you points for the amount I spend. 
                               
The purpose of the program (“$1 Coin Direct Ship Program”) is to distribute these coins all over USA for general public. These coins come in lots of 250 and a maximum of 500 can be bought at one time (500 per president). These coins are named after the presidents of USA. I use these coins in retail stores or give them to get dollar bills. I am getting the rewards and also helping them to distribute these coins in my area. This is a good idea for those who want to build a good credit history. You can order 250$/month and pay them for your apartment rent, something like that. When you try to place an order it shows 4.99$ or so for shipping but at the checkout you will not be charged any shipping fees.

Note on their website: The immediate bank deposit of $1 Coins ordered through this Program does not result in their introduction into circulation and, therefore, does not comply with the intended purpose of the Program.

Managing Multiple Cards

I have 6 credit cards (got one today) and two debit cards. Each of them has their benefits but it is very tedious to maintain all the cards. My wallet used to be bulky and of course heavy to carry around. So I decided to make some changes to my approach. I took off all the cards except two debit cards and two credit cards. I made it a point to have at least one card from visa, because it is accepted everywhere. The other credit card I have is from American express, I have it with me all the time because it has car rental insurance on it for rental cars.

     Then I took off all the membership cards from different stores but noted down the membership numbers on my iPhone. My wallet is at its minimum best with my driver’s license, 2 debit cards, 2 credit cards, and AAA membership card. In addition I have a blank check and couple of dollar bills. I only use my visa card for all my transactions even if I have Amex card. I pay all my bills using my debit card only (online or offline). Every month I pay off all my balance on my visa card. So just one credit card payment!!!

    I don’t want my other cards to get dormant, so I replace my visa card with any other card at home. Sometimes, I use two cards in the same month to make sure they are in use. This avoids lot of confusion and helps to have a clear picture of my financial situation. I use mint.com to see everyday transactions on my iPhone. The card I choose in a particular month is totally dependent on the benefits that particular card is offering at that particular time.

  Simplifying things at the basic level avoids confusion in day to day life.

Note: Each one of you have different situation, but the approach can be as simple as this to make right choices.