5 common mistakes new parents make

Let’s face it: Children aren’t the only ones who need to be taught proper money habits. Sure, their money plan may be simpler (saving to buy that Barbie or Tonka truck, or buying that Barbie or Tonka truck), but the basic principles of living on less than you make and saving for purchases with cash is something that adults struggle with. And you can’t afford to do that when kids come into the picture.

Here are 5 common mistakes that new parents make, and tips for avoiding them:

5 Simple Steps to Save on Groceries

Did you know that the average family of four spends $718 a month on groceries? That’s $8,600 per year. If you’re looking for some ways to help you save at the register, check out these money-saving tips from Terri Gault, founder of the GroceryGame.com

Baloney and the economy

I came across this article on Yahoo! News via The Motley Fool this morning that I have to share. I’m not going to waste anytime, so here you go.

Are most Americans really struggling financially?

I’m not sure that’s the case as much as the media makes it out to be. Sure, there are a number of folks that are dealing with some hard times. But, I would argue that the majority are truly in dire straights. In fact, I think the media is making it seem worse than it really is. Either that, or Americans are being outright idiotic when it comes to money matters. And that may well be the case too. Maybe I’m right in both cases.

Did you know that homeowners paid or will pay 580% interest in the first year of their 30 year mortgage?

Neither did I. But a Realtor in Mobile, Alabama wanted to enlighten the public and Dave Ramsey about this and tried convince us that United First Financial’s $3,500 computer software was worth every penny.

I busted our budget

Where I work, they provide a deli for employees to use during lunch hours. Prior to June, the deli was run through a partnership with a local high school that would give students some work experience. Because of that setup, the deli wasn’t always the most pleasant place, but it was convenient. There were days that weren’t so convenient however. Like, short days, snow days, and school holidays. On those days the deli was closed.

6 Money Matters to Stop Worrying About

I’m not a huge fan of Suze Orman. In fact, not much of one if I’m being honest. But, her latest feature in O at Home was one of the few Orman tidbits I can’t argue with. Simply put, it’s the soundest advice I’ve heard from her in a long time. Here’s how the article starts:

Some people just don’t get it

Saturday morning, a friend and I went garage sale shopping for baby stuff. We’re both expecting and are always looking for some bargains. We got a late start but she was able to find quite a bit of things she’ll need (onesies, blankets, etc.). I really didn’t need much since we stored our daughter’s stuff in the attic.

NYT: The Foreclosure Crists

I wanted to take this time to comment on a letter to the editor published in the New York Times yesterday titled The Foreclosure Crisis.

Credit card regulation is overdue

Great article from the Dallas Morning News on credit card companies lack of ‘expediency’ posting payments so as to generate penalties and late fees from customers who actually pay on time. Here’s an excerpt:

Editorial: Credit card regulation is overdue
06:37 AM CDT on Wednesday, May 7, 2008

For years, credit card companies have orchestrated due dates and payment postings to generate late penalties and fees – all in the name of extra profits. Enough is enough.

This newspaper was glad to see the report last week that three major financial regulators, including the Federal Reserve, have proposed rules to curb deceptive credit card practices. Separately, Congress also is considering measures.

New regulation is overdue. Creditors have been free to hike interest rates at any time and for any reason – and then apply the new rate to purchases the consumer has already made. Credit issuers also have manufactured revenue by selectively posting payments to maximize interest charges.

Read editorial