Here are a few of the more interesting posts Ive come across this week, check them out!

Millionaire Mommy Next Door

“It may be late for a lot of homeowners to read this, but here it goes anyway: It’s risky and bad planning to have too much of your net worth in your principal residence. No prudent stock-market player would put 60% or 70% of a portfolio in just one stock, but millions will hold that much or more of their total net worth in just one house.”

“Mortgage interest is rent that you pay to your lender for the use of its money rather than to a landlord for the use of his house.”

 

WiseBread-How The Banks Were Fleeced–A Primer To Mortgage Fraud

“…in the past few years lending standards have become so loose that literally anyone with a pulse can get a loan even if they are a NINJA (No Income, No Job, and Assets).”

CNN’s Millionaires in the Making

Jeanette Courts

Age: 38
Occupation: IT specialist at the Pentagon
Salary: $94,000 a year

Government Thrift Savings Plan: $107,000
Roth IRA: $6,000
Savings Bonds: $2,000
Online savings account: $10,000
Brokerage account: $1,000
Other savings: $4,000
Home equity: $190,000

Her friends say her commitment to her finances borders on obsession. Her neighbors may chuckle when she drops $400 on bulk detergent and toilet paper in a single shopping trip. But Jeanette Courts’ budget-minded habits have put her on track to becoming a millionaire. Courts, a 38-year-old single mother and information technology specialist at the Pentagon, has stashed away $113,000 towards retirement and has built up $190,000 in equity in her 3-bedroom townhouse in the Washington D.C. suburb of Bristow, Va.

Financial Zen: How To Get Financial Peace of Mind

.”..our finances are one of the things in our lives that stress us out the most. If we’re trying for a stress-free life — with stress-free productivity, working and living environments, waking early, morning routines and the like — then we need to address our finances and find routines that will keep the stress of money to a minimum.”

Ten Commandments of personal finance

1. Thou shalt create a savings plan
2. Thou shalt not spend more than you make
3. Thou shalt not try to keep up with the joneses
4. Thou shalt limit the amount of debt on credit cards
5. Thou shalt pay monthly bills on time
6. Thou shalt avoid get-rich-quick schemes
7. Thou shalt protect thyself against risk
8. Thou shalt teach your children to handle money wisely
9. Thou shalt plan for retirement
10. Thou shalt legally protect thyself and thy family

Build Wealth with a “Virtual Employer”

I like this concept a lot. My girlfriend and I read this post over a few times and discussed how we would implement this into our own strategies towards savings and debt reduction. I know its an older post, but its still good information.

A tale of two employers
My real-life employer direct-deposited my paycheck into a money market account. This account used an automated bill-payment service to make deposits into my regular checking and savings account every two weeks. This last set of accounts was used for ATM transactions, and for paying all of my bills. Income into this account was my “salary”. I had to live within my means just like I ought. However, it was like I did not work for my employer, but for a fictitious employer. Once a year, I gave myself a raise by changing the amount of the bi-weekly salary that went into my personal bank accounts. My income kept rising, just a bit more slowly than in my real-life job. I never felt that I was scrimping.

LOVE IT!

Facing a Real Emergency with No Emergency Fund

I haven’t had any real emergencies in years so I assumed that I could put off saving for another month, that is until today. I just found out that my cousin was killed last night due to an accidental gun shot wound to the head and I can’t go home to say goodbye. I’ve been curled up on my couch angry for not preparing for the unexpected and hoping that my family is as understanding and I believe them to be. Last but certainly not least and a favorite: Fabulously Broke in the City. FB is a fresh perspective in the realm of female personal finance bloggers as she tends to be balanced in her posting. Read: She talks not only about money and debt reduction but fashion, food, dining out, decorating etc etc. All the things a girl like wants to keep up with while reducing debt.

Frugal Ways To Update Your Home
How about New Pillows or Linens

Assuming you aren’t going for the $2000 bedsheets, new sheets could be what it takes to make your bedroom more inviting to you. Or replacing your beaten down, flattened pillow with a new soft fluffy one from Bed Bath and Beyond.Or pillows as decoration is a great idea. I had a grey couch before, and I decorated it with deep emerald green pillows with touches of white and blue. The effect was great, and very comfortable to lounge on. Again, IKEA had some silk striped pillows I really loved, so it helped.

I happen to agree with her especially on this tip. I LOVE Smartbargains for this very reason but they along with Target are the debil. So watch your spending, still they have fabulous prices on high quality thread count sheets.

Enjoy!