More Online Bank Interest Rate Decreases

And the hits just keep on coming… Earlier this week HSBC Direct announced that they’re reducing their interest rate form 2.60% APY to 2.45% APY, and I just received notification from E-Trade that they’re reducing their rate form 3.01% APY to 2.50% APY. These sorts of changes make the term “high yield online savings account” […]


An Emergency Fund Victory

Are you getting tired of all the economic doom and gloom? Me too. So today, I thought I’d change gears and spend a little time talking about a recent financial success that we’ve experienced… The Backstory Back in January of 2004 we had been homeowners for about 2 years, we had three kids with another […]


Beware the Going Out of Business Liquidation Sale

With all the recent news about struggling and/or failing retailers, I thought that now might be a good time to talk a bit about liquidation sales. Sure, the signs in the window claim that “Nothing is Held Back” and “Everything Must Go, ” but are you really be offered the deal of the century? When […]


Inside the American Recovery and Reinvestment Plan: The 2009 Economic Stimulus Package

I had every intention of writing up a detailed summary of the so-called “American Recovery and Reinvestment Bill of 2009” this morning, but when I took a look at the House Appropriations press release, I was overwhelmed. According to the press release, the package contains $275 billion in economic recovery tax cuts and $550 billion […]


TurboTax and Quicken Giveaway Winners

The TurboTax/Quicken giveaway is now over, and I’ve (randomly) selected all three winners. Here on FCN, 103 people left comments. And the winner is… Cam. Over on Twitter, there were 48 entries, so you’re odds of winning would’ve been about double over there. And the winner is… @Maxsmomhere. As for subscribers, I received 85 e-mail […]


Limits on Itemized Income Tax Deductions

Did you know that certain itemized deductions are subject to limits if your adjusted gross income (AGI) is too high? For 2008, the AGI threshold is $159, 950 (or $79, 975 if you are married filing separately). If you make more than that, you’ll may have to forgo a portion of your income tax deductions. […]


Commonly Overlooked Income Tax Deductions

A reader named Brandon recently wrote in to encourage me to write more about commonly missed income tax deductions. As it turns out, he dug up my article from last year and wound up saving $200 on the retirement tax credit that he would’ve otherwise missed. With that in mind, I thought I’d highlight this […]


First Time Homebuyer Tax Credit Followup

As I noted on Friday, changes are afoot when it comes to the $7500 first time homebuyer tax credit. More specifically, there has been talk of converting this from a pseudo-credit that actually has to be paid back into a true credit. I just wanted to follow up on that article with a bit more […]


Sunday Roundup – Baker’s Dozen Edition

This evening my wife and I got to talking about the term “baker’s dozen.” I can’t recall what got us onto the subject, but it prompted me to look up the origin of the term. According to Wikipedia: The expression found its genesis in 13th-century England, when an Assize of Bread and Ale was introduced… […]


$7500 First Time Homebuyer Tax Credit

Last night, a reader named Heather asked the following question: We are debating about whether or not to take the $7500 from the government for being first time home owners. In 2 years, we will have to start paying “them” back $500 for the next 15 years. If we were to sell our house in […]