I received a lot of traffic from my Get Rich Slowly post, so I thought you might be interested in a few more great money managing blogs. I suggest you throw all of these in your RSS.
ยป The Simple Dollar
ยป Lazy Man And Money
ยป Wise Bread
ยป Make Love Not Debt
ยป My Money Blog
ยป Five Cent Nickel
ยป No Credit Needed
ยป Mighty Bargain Hunter
ยป Free Money Finance
And with all of these, there are even more great links in their blogroll.
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* The following is from Five Cent Nickel.
Money Magazine recently ran a sidebar outlining some handy little financial rules of thumb. Here are my favorites:
The Rule of 72
This is a useful rule for figuring out how quickly your investments will growโฆ Simply divide the expected rate of return into 72 and youโll get an estimate of the number of years required to double your money. Earning 9%? Your money will double in 8 years.
The Future Value of Money
If youโre debating about whether or not to make a purchase, keep this little tidbit in mind: Adding zero to the end of the price gives you a quick and dirty estimate of how much of your (potential) retirement nestegg youโre giving up when you make a purchase. Thatโs the amount of money youโd have in 30 years if you invested the money at an 8% return instead of spending it.
Grooving on a shiny new 160 GB iPod? Thatโll set you back close to $3500 down the road. Doesnโt sound quite as enticing now, does it?
Hourly Earnings
If you want to translate a salary into an hourly wage simply cut it in half and then divide by 1000. So if you make $50k/year, youโre earning roughly $25/hour. Conversely, you can get a rough estimate of your full time salary by doubling your hourly wage and adding three zeros to the end of it.
**UPDATE**
1. And this will blow your mind.
2. And subscribe to these already!!







clever!
It’s a good thing that I already decided I didn’t need the new Macbook Air or the information about the future value of money would seriously depress me.
Heard this before and I try to save all that I can, not for myself really, but mostly to give my kids a head start, no matter how small it may be.
thanks for giving me a lot of reading to do!
Thanks for including me!
Very cool … and also very scary! I especially like the calculation for the future value of money!