…why not ask “how can I afford that”?

While browsing the The Carnival of 20-Somethings Finance, I saw a post called Tori Spelling - Unsung Financial Hero? that caught my attention.

If you like reality shows (me, not so much, but I actually caught part of this episode on one of my ‘unable to sleep’ nights), you may be familiar with Tori and Dean - Home Sweet Hollywood.  On a recent episode, Tori and Dean were looking at new houses to buy, and they were looking at one that was twice their budget.

That’s what clients are asking (or at least thinking) about the current stock market.

Well, I hate to break the news, but this IS normal!  The stock market goes up AND down.  It’s a cycle, made up of periods of expansion and periods of retraction, of good times and not-so-good times.

The market goes up, and periodically it needs to retract.  Right now we are in a retraction.  However, those who adopt a reasonable investment policy, diversify and rebalance their portfolio as needed - these folks have positive long-term investment experiences.

One of my favorite websites is Allrecipes.com. I go there anytime I’m looking for a new recipe or just need inspiration for something to cook for dinner.

On my most recent visit, I noticed a section called ‘Cooking on a Budget’. Since inflation and rising food prices are at the top of many people’s minds these days, this was a great find!

In ‘Cooking on a Budget’ you’ll find articles on smarter meal planning, budget friendly recipes (the lemon garlic tilapia looks awesome!), tips on how to buy in bulk and how to freeze food, and videos on how to prepare “cheaper than takeout” meals for your family.

While I was on vacation this week, some thief was busy emptying out my checking account.

I have always loved the convenience of debit cards, but this recent experience has me re-thinking the cost of that convenience.

First, your liability if you are a victim of debit card fraud is greater than if someone steals your credit card or uses your credit card to make unauthorized purchases.

With credit cards, your liability for unauthorized transactions is limited to $50. However, most major credit card issuers have a zero liability policy, so you typically aren’t liable for anything if you are a victim of credit card fraud.

With debit card fraud, your liability is limited to $50 only if you notify your financial institution within two business days after realizing their card has been lost or stolen. After that, your liability is limited to $500 if you report any suspicious activity within 60 days of receiving your account statement. After 60 days, your liability is unlimited, so it’s very important to check your statements on a regular basis.

Continue Reading Debit Card Fraud Much More Damaging Than Credit Card Fraud

The WAH Expo started yesterday, and is featuring a wide variety of speakers and topics including:

Do’s and Do not’s of Graphic Design - Shannon Smith and Tammy Munson

Q&A about New Media: Blogs, Podcasting, Social networking, etc

Advertising: The Good, The Bad and The Ugly - Patrysha Korchinski

Non-Toxic Networking - Jennifer Gniadecki

Yes. You do need an editor. Erika Geiss

And many more!

I will also be speaking about Tax Benefits for the Work At Home Business Owner later today.

Check out the full schedule here!

Earlier this year, Rick and I were planning on driving to Colorado for a week of camping, hiking and canoing. After watching gas prices rise, we have decided to vacation closer to home this summer.

While I was looking forward to the scenery in Colorado, we have plenty of good rivers for canoing and camping right here in Missouri, so it doesn’t make sense to spend the extra money it would cost to drive all the way to Colorado.

What about you? Have rising gas prices changed your vacation plans this summer?

My friend, Cara Mirabella of The Household Helper interviewed me this week on her podcast about the current situation in the economy.  It’s basically a lesson in Economics 101 so you can better understand what the media is making such a fuss about.

We talked about how the media focuses on the negative, how the election year affects our economy, what a recession is, and what economists think 2008 has in store for us.

We also talked about what we should be doing now (if anything) and what we can do to take advantage of the ‘down’ market. We also talked a little about the upcoming tax rebate check!

Are you swimming in debt, with no end in sight? Do you cringe every time the phone rings, fearing it’s creditors calling for money? Do your debts keep you up at night, tossing and turning, wondering how you’re going to dig your way out?

If you’re deep in debt, you’re not alone! The average American family has over $8,000 in credit card debt at an average rate of 18%!

Announcing… Living Debt Free - Learn How to Get Out of Debt and on the Road to Financial Freedom!

This complete Living Debt Free program includes:

Would you be surprised to hear that 2007 was a winning year on Wall Street?  My guess is that most people would be surprised to hear this.  Most people tend to focus on the negative, not the positive.  But in reality…

• The Dow Jones ended up 6.4%
• The S&P 500 ended up 3.5%
• And the Nasdaq ended up 9.8%

These may not be earth-shattering numbers, but after the volatility in the second half of 2007, the fall of the dollar and the rise in oil prices, these are solid returns for ‘07.

If you’ve been thinking about buying your first home, now might be a great time.

I am catching up on my reading this morning, and noticed this article: ‘Home Prices Post Record Drop’ on CNNMoney.com.  According to the home price index, home prices fell 6.7 percent in October, the largest drop in more than 16 years.

In addition to dropping home prices, interest rates are still pretty low (you can get a 30-year fixed mortgage for less than 6.5% if you have good credit).