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Book Club

Joining a group such as The Penny Hoarder Community pretty much indicates that personal finance is a topic that interests you. But still, it can be really difficult to talk to others in your life about money. I write about personal finance for a living, but one thing I’m currently struggling with is initiating a money talk with my mom. I’m concerned about whether she has her financial affairs in order and I’m not sure what financial support she might need from me and my siblings as she gets...Read More...
I don't know what the book mentioned above would ask, but if your parents are willing, you could just ask them, how they want to be cared for as they age. (Because you love them and want to respect their wishes). Then do your research and present them with the costs involved. If the discussion is open and honest they will be able to see if they have enough in place, or if they have to pare down their wishes, or put more aside as they are able. If they balk at discussing these things, then...Read More...
Good idea. Although my parents and I do, at times, talk about their finances, we haven't had a pointed discussion about what they will need from me. That's quite a thought. I'm still supporting 2 young teen boys, and can't imagine taking on additional financial responsibility! Since my parents are in their mid 70's, we should start thinking about this. Thanks for the idea.Read More...
Last Reply By Olivia · First Unread Post
Telling your significant other how much money you make or how much debt you have can be an awkward conversation. But discussing whether you should sign a prenuptial agreement before marriage is next-level uncomfortable. Having tough money talks is the entire focus of a book I recently read — “Broke Millennial Talks Money” by Erin Lowry. And yes, there’s a section on prenups and how to tactfully ask for one. Lowry chatted with The Penny Hoarder via Facebook Live last week, and she talked...Read More...
Pre-nup, oh yes.Read More...
First marriage, say no to a pre-nup, because you are building your lives together, so your assets would be shared as a marital property. 2nd marriage, yes, definitely a pre-nup, you want to protect your previously acquired property (assets) and children-if any.Read More...
@MsKimberly , I definitely think trust is key and I agree that you shouldn't marry someone you don't trust. But I also think many couples go into a marriage fully trusting each other and things just shift over the years or decades. I don't think a prenup has to indicate a lack of trust. It's just setting things up so that if you ever do part, you've collectively decided on a fair way to split everything rather than leaving it up to whatever the state or a judge decides.Read More...
It's all about trust. If you don't trust the person, don't marry him or her.Read More...
Last Reply By sthom · First Unread Post
After a year of primarily staying at home, I know many of us are itching to reconnect with friends and family — in real life, not over a screen. While group outings are wonderful — things can get tricky when someone invites you to a place or makes plans for a vacation that you can’t really afford. Are you upfront with friends and family about your budget limitations for group outings? Or do you suck it up and spend more than you want? Erin Lowry’s latest book, “Broke Millennial Talks Money,”...Read More...
Group outings? Now?Read More...
My husband and I are not shy or embarassed to tell friends it's more than we want to pay or just out of our league. No excuses. No explainations. Genuine friends respect this and that's what we try to surround ourselves with.Read More...
I was (last year) invited on a vacation that I could not afford and as much as I wanted to go, I just simply said that I could not- it was outside of my budget, but that I would love to get together when they return. I know that offering an explanation leaves me open for them to 'argue' it with me, and they did. Apparantely I should have been able to 'Find' $700.) Next time I will decline without an explanation. 🙄 When I am Invited to events and outings, sometimes I will just go and do it...Read More...
A group of us boomers have a common interest in getting together in person and do so at coffee shops where you get free refills, membership earnings (Panera, etc), inexpensive outings like plant shopping, a day in the park... One of this group has a high end interest and loves to go to places that reflect her taste-like classy downtown restaurants, bars..., when she invites the others in the group, one or more of us does a little research and usually finds the price of the admission is...Read More...
Last Reply By sthom · First Unread Post

Upcoming Virtual Event With “Napkin Finance” Author Tina Hay

Nicole D.
Hey everyone! In case you’ve missed our announcement Monday, I’ve got some exciting news to share! Tomorrow, The Penny Hoarder will be hosting a virtual Q&A with “Napkin Finance” author Tina Hay. Mark your calendars for Thursday, Feb. 11 at 2 p.m. ET and join us on The Penny Hoarder’s Facebook page , where we’re sure to have an interesting and informative Facebook Live discussion. We’ll also be giving away five copies of “Napkin Finance” during the virtual event! For a chance to win,...Read More...
Hi everyone, If you have concerns over your partner’s fidelity, improving your credit score, grade change or doubt your employee’s sincerity I am certain morrisgray can help you get direct access into their phones and computers easily without their knowledge and within a specified time frame. This team of certified morrisgray hackers helped me when I desperately needed to get evidence of my cheating husband’s extra-marital affairs. I was tired of being lied to and wanted a divorce, all...Read More...
Hi everyone, If you have concerns over your partner’s fidelity, improving your credit score, grade change or doubt your employee’s sincerity I am certain morrisgray can help you get direct access into their phones and computers easily without their knowledge and within a specified time frame. This team of certified morrisgray hackers helped me when I desperately needed to get evidence of my cheating husband’s extra-marital affairs. I was tired of being lied to and wanted a divorce, all...Read More...
Hi @Latonia Whitley ! We haven't yet finalized the next pick for the book club. We're trying to assess the best way to move forward with everything, but I'll be sure to make an announcement once we've decided on the next book!Read More...
Would like to know the name of how the current book and how to obtain it the club has started. I'm new to this and really need to learn how to budget and save.Read More...
Last Reply By Nancy Rosas Fonseca · First Unread Post

Napkin Finance — How Are You Preparing for Retirement?

Nicole D.
What are you doing to prepare yourself for retirement? If you're reading along, what tips have you found helpful from “Napkin Finance?” I don’t know about you, but I wish I had a time machine to send me back about a decade so I could get an earlier start on saving for retirement. I struggled with money in my 20s and didn’t have enough financial savvy to truly grasp the importance of starting at a young age. “Napkin Finance” is one of those books that people of all ages should get their hands...Read More...
I'm taking part in a 401(k) through work. I also have two Roth IRA's, one of which I'm actively contributing to. One is through Acorns, a robo-investing company. I'm woefully behind, however, since I had to withdraw all of my previous funds due to medical issues. So, it's a struggle for sure, but I'm trying to make up for lost time. For reference, I'm in my mid-40's.Read More...
Most important thing is to start AS EARLY AS POSSIBLE on ALL of the below: Take advantage of any pre-tax company 401K, especially with company match. Alternative IRA post tax contribution with tax free growth. Very little is more advantageous than leveraging government approved tax incentives. Pay down any debt as soon/fast as possible (nothing is more expensive than debt, especially credit card debt.). Debt is hindering your ability to save. Save as much as you can regardless of income...Read More...
I think many of us do not really look at this closely when considering employers. I fell into my job, but the unheard of retirement contribution makes me stay.Read More...
Love the "napkin" infographics! Thanks for adding that to your post, @Nicole D.Read More...
Last Reply By lismox · First Unread Post

Children's personal finance book: Seeking Feedback / Review

Kelly Lee
Hi guys, We need to increase our children's financial literacy! I recently wrote and illustrated a Children's personal finance book (for 2-7 year olds) and would love to get your feedback. If you are interested in reading the book and providing feedback, I can send you a PDF version of it for free. Please let me know ! Thank you! If anyone recommends any financial books for young children, please let me know too! I'd love to get some for my kid. KellyRead More...
That is a great idea Stephanie! Does sound fun. I'll look into it. Thanks so much!Read More...
Oh that's a great idea does look fun!! 🙂 Thanks so much Stephanie. I'll look into it.Read More...
I think that is a great idea for a book! Working on money handling with your child is such a chore but I know a fun book would have made a big difference with my son. Maybe you could even include an Adventist calendar style page where choices made throughout the book would lead to a savings account balance amount and a toy or something that amount would represent in purchasing power? Good luck with your endeavor!Read More...
Last Reply By Kelly Lee · First Unread Post

Do You Know About the Rule of 72? — “Napkin Finance”

Nicole D.
If you’re ever wondering how long it’ll take for your investments to grow, the Rule of 72 can help. Just divide the number 72 by your interest rate to get the number of years it’ll take for your money to double. Reading about this quick and easy calculation in the last chapter of Tina Hay’s “Napkin Finance” really resonated with me, because one of my money goals is to focus more on investing. This month, I plan to increase my 401(k) contributions, so I’ll see greater returns when my money...Read More...
It's good to be reminded about the rule of 72. I knew about it but never quite remember how it works. I'm taking a screen shot of your explanation, Nicole, and putting in my budget folder. Thanks.Read More...
Congrats on paying off one of your debts, @Chantal Voltaire !Read More...
My money goal so far this year is a bit bumpy I paid off one of my debt last week I guess in the debt department I am doing better but in the saving department it could be better Chantal VoltaireRead More...
The rule of 72 is totally cool , it is simple cool and effective in retirement income planning also . Thank you Chantal VoltaireRead More...
Last Reply By sthom · First Unread Post

Ready for Tax Season? — Napkin Finance

Nicole D.
How do you go about preparing your taxes? Many of us are receiving — or about to receive — W-2 or 1099 forms from our employers for the 2020 tax season. Fortunately, the second half of “Napkin Finance” digests some pretty meaty tax topics into bite-sized (or should I say, napkin-sized) infographics to help make taxes more approachable. I love the tip about how you can file online for free with the IRS . Several tax-software companies also let you file at no cost. How are you liking “Napkin...Read More...
i use turbotax and its been good for meRead More...
Thanks so much. We got a VITA schedule a few days ago. Now all we have to do is decide when to go.Read More...
Re: Ready for Tax Season? — Napkin FinanceRead More...
I use an accountant. She is very thorough, and I trust her. I don't think I could ever go back to doing my own taxes for my husband and I. They're just too complicated, and I don't want to mess anything up.Read More...
Last Reply By irishnanny · First Unread Post

What are some good books to read?

Bonnie Squires
Hello every one. I'm looking for some good books to read. Looking for any thing that will help me save money, make money or just help me out. Thank you for your helpRead More...
Thanks for the recommendation, @lismox ! I hadn't heard of that book. It seems interesting! We still haven't selected our next book club pick, but I'll be sure to let you know when we do! We want to give people plenty of time to pick up the book and start reading. 🙂Read More...
I'm currently reading the book "Happy Money" by Ken Honda. It's good, and I recommend it. I got it from my local library. Here's the Amazon.com link: https://www.amazon.com/Happy-M...p;s=books&sr=1-1 I also think this would be a good book for our book club @Nicole D.Read More...
I got half way through this book and it was a little sanctimonious. I don't have the energy to shop for a sweatshirt for months. Anyway, I'm glad you enjoyed it. The book did have some good bits to it.Read More...
Good titles. Will be sure to check my local library first. 🙂Read More...
Last Reply By Nicole D. · First Unread Post

Coming in January...The Penny Hoarder Book Club!

Sushil
Want to read more books and grow your personal finance knowledge in 2021? We are launching a virtual book club next month! Please join TPH senior writer Nicole Dow ( @Nicole D. ) as we dig into different money-focused books and discuss them here in Community. Our first book pick is Napkin Finance by Tina Hay. Napkin Finance is chock-full of clever infographics designed to explain complex money topics in an easily digestible way. Starting in mid-January, Nicole will be popping into this forum...Read More...
Great idea @lismox - I'm going to order on Amazon too!Read More...
Hey @lismox ! We haven't decided on the next book club pick yet but we're hoping to make that announcement soon!Read More...
Do we know the title of next month's book yet? I was hoping to get a jump on it by ordering it on Amazon.Read More...
Thanks for the recommendations, @lismox !Read More...
Last Reply By GM · First Unread Post

Napkin Finance - An Intro to Budgeting

Nicole D.
Hey, everyone! What’s the best tip you’ve learned from “Napkin Finance” so far or any other budgeting tips that have worked well for you? I hope you’ve all had a chance to pick up a copy of “Napkin Finance” by Tina Hay. Even if you haven't, the book covers so many different aspects of personal finance and I welcome you to join in on our discussions! For those who are reading: How are you liking the book so far? I really like how “Napkin Finance” uses graphics to illustrate different...Read More...
Thank you!Read More...
@Burgandy , Rachel Cruze's new book is definitely one I want to check out! I'm so interested in the topic of knowing one's money mindset. Glad you're enjoying it!Read More...
I haven’t read yet but will soon.. I am currently reading Rachel Cruz new book and am enjoying it... I am in for book club..Read More...
I have yet to read this book. Thank you for the highlights! I love and follow The Budget Mom. I first learned of TBM in The Penny Hoarder newsletter in October 2019.Read More...
Last Reply By Burgandy · First Unread Post

Free book!

BeckAtsila
Hi all, I decided to do a quarantine special on my e-book "Lonely Ants Die Young, Tired, and Hungry: A Guide to Overcoming Loneliness". It's FREE until May 1! In the book, I offer all sorts of advice to defeat that gnawing feeling of isolation, ranging from Stoic philosophy to a rat named Lupin (RIP)! Perfect for reading during the abundant down time we have! Please read and review. ...Read More...
Thanks for this. Interested in reading something good!Read More...
Last Reply By Cecelia Price-Jones · First Unread Post

Podcasts, anyone?

Theodora
Hey, Penny Hoarders! Would love your recos on favorite personal finance podcasts. Fire away..I'm all ears.Read More...
Scott Alan Turner show is a great one!! I learned a lot about investing from himRead More...
I just watched the Netflix documentary about the Minimalists. It's such a lifechanging idea. I have a post asking people for more information about Minimizing. Would you have any information to offer?Read More...
Hi Theodora, My recommendation is more along the lines of developing a lifestyle that saves you money! The Minimalists is a wonderful podcast that helps you reshape your views on stuff and why we feel the need to buy it. The two hosts are funny and engaging. Let me know what you think about it!Read More...
I just saw this shared on The Penny Hoarder blog, there is a nice list to choose from! https://www.thepennyhoarder.co...st-finance-podcasts/Read More...
Last Reply By Zach Filstrup · First Unread Post

Recommended Book on Passive Income

BeckAtsila
Hi all, I just discovered an excellent book about passive income by Gundi Gabrielle. I was skeptical of all the five-star reviews and while the one-star reviews do have some merit, they're the minority. The book takes you through the nuts and bolts of setting up a passive income stream, some of which require no capital and little energy, and some of which require a lot of capital and a lot of start-up energy. The book is cheap and worth a look, and can be bought as part of a series. I...Read More...
I've had some luck, but coronavirus has thrown me for a loop. I run a subscription box service for pet rats and can't get supplies and my customers can't pay the fee. Maybe once things reopen it'll change. I'm also working on a new e-book--I never thought I'd have this much time to write!Read More...
I see this post is from July of 2019 so since that time, have you earned any passive income since reading this book? I have slowly ventured into passive income mostly through social media influencing and cash back rewards apps, but would like to increase my passive income. I am currently only earning about $200-500 monthly. Just wondering if this book is worth the read?Read More...
Passive Income Freedom by Gundi Gabrielle.Read More...
Sounds like a good book to have. Anythings that shares ideas to help you generate extra income is a good resource. What is the name of the book @BeckAtsila ?Read More...
Last Reply By BeckAtsila · First Unread Post

Sylvia Plath

Zara Zoey
There is a whole universe in the realm of Sylvia Plath's poems! She is a world on her own. I want to dissect her poems with love and care. Anyone in?Read More...

Home-based businesses book

BeckAtsila
Hi guys! One of my favorite authors just released a new book that is free for today (Aug. 30). It's about home-based businesses. I've done several of the gigs in this book and can vouch that they are legit, and there are some that I'd never heard of that look worth checking out. Got used makeup? You can sell it! Need a day gig for just one day? There's an app for that! Want to start your own subscription box? She details that, too! The link is:...Read More...
@AverageJoe That is new to me....and nice to hear.Read More...
MSKIMBERLY, there were many people that my wife worked with who would have bought used makeup. There has been a pretty big market for it around here, and I believe that there was a story on it a few months back on our CBS local affiliate.Read More...
I missed the date....I did know you could sell used make up...but then...I am not sure many would buy it.Read More...
Last Reply By MsKimberly · First Unread Post

Need reviews

BeckAtsila
Hi everyone. This is my Amazon Author page: https://www.amazon.com/-/e/B07CZ6XJ4F I self published the third book, "Lonely Ants Die Young, Tired, and Hungry" and could really use some reviews to get my name out. In the next few days I'm planning a giveaway, so stay tuned! Anyway, if you buy any of the three books, would you mind leaving a review? I've only got one, but it's five stars and I'm proud of that. Also, I plan on coming out with more books--I'll keep you posted.Read More...

What social media site you use or are on?

Bonnie Squires
Hello every one. I was wondering what social media site you use or are on. How do you use your social media accounts? I've twitter which i've not used in a long time. Facebook I use at least once a day or more for family and friends and use to use it for business. Linkedin I don't use to much. I know there a couple other ones just can't think of them.Read More...
DEON CHRISTIE thats goodRead More...
It's quite hard to keep up @Bonnie Squires . Which is why I use auto posting tools like Buffer. But I have a lot of work before my next post scheduling period.Read More...
@Moore Income I know i'm on some of the ones you listed just can't remember. I just figured because I've not started any thing I'm not active but now I'm thinking I should be more active on the other sites.Read More...
All of the above @Moore Income , with exclusion to " MeetUm ". Not quite familiar with that one. Although I do use Facebook, Twitter, LinkedIn, YouTube and recently The Penny Hoarder much more. And I have to agree, the Penny Hoarder is the one I spend most time with. Such an active audience I have to admit.Read More...
Last Reply By Bonnie Squires · First Unread Post

Reading suggestion: I do what I do

Recently i was reading a book written by the economist and the former Governor of Reserve Bank of India Dr Raghuram G.Rajan, which is worth to be read for once atleast. The book has been published by Harper Collins in the year of 2017 is a collection of experiences gained by him during his reign .So it has a collection of all the speeches delivered by him in the respective forum as the Governor of Reserve Bank of India. The chapter which interested me more is about the demonetisation views...Read More...
Please do read the same .. and share your views as well..Read More...
Please do read and share your views about the same ..Read More...
Thanks for sharing this info! Sounds like an interesting read!Read More...
Last Reply By Shreoshi · First Unread Post

Reading Goals

Moore Income
I have so many books in my library that I have purchased (mostly financial topics) that I have been telling myself I need to read but just haven't gotten to yet. Because of this, and also because I believe the saying "Readers are Leaders", I have made it a goal this year to read at least 2 books a month. I completed this goal in January by reading " How to Win Friends and Influence People" by Dale Carnige & " Sell or Be Sold" by Grant Cardone For February, I have already read "The...Read More...
I've never made any specific reading goals but I enjoy reading and with new Fire it is making it much easier. I have read 6 books in January and 5 books in February. Doesn't look as promising for March as I have 1 read as of today and 1 waiting for me....... Library here is part of Hoopla and I have found that morning is the best time to check out new book as by noon most days they have met the number of checkouts for the day. Trying to stick with books that teach me something new...Read More...
I do not have specific reading goals, but I read and write all of the time. As a blogger and a poet, it is important to constantly be honing my craft and keep learning in general. However, I have a book ownership goal: Read and sort through/donate enough books to make it possible for all of them to fit on my bookshelves. Nice sources for free or inexpensive books: OnlineBookClub. They provide books in their daily gift card giveaway contests (Reading samples of or downloading the books they...Read More...
I finished reading the book e SCAPE by Anik Singal in February bringing my total to 4 books read. Not bad for the shortest month of the year! This month I have been working extra so I will probably only get 2 in but we will see. Currently reading " From Poop To Gold - The Marketing Magic of Harmon Brothers" by Chris Jones It is quite an entertaining read and definitely recommended for anyone who wants to learn more about marketing and entrepreneurship. Still haven't decided what my second...Read More...
Just finished reading the book " Opportunity " by Eban Pagan. It was a pretty intense read with a lot of deep topics but it helped me in recognizing opportunity and learning how to choose the right opportunities in my life. I lent the book " Who Moved My Cheese? " to a coworker who saw me reading it, she is almost finished and another coworker is already asking to read it next. I definitely recommend it for people who are struggling with change at their job.Read More...
Last Reply By Shannon H · First Unread Post

Intro to Investing Resources

Theodora
Anyone have any easy, approachable guides to recommend for beginning investors?Read More...
@Theodora I have run across them. Can't say I have looked into them much although I do plan to in the near future. Currently I am investing in Rich Uncles which is a real estate trust that focuses on purchasing commercial buildings and student housing. It is a great place to get started and the returns are decent with Rich Uncles. Fundrise is definitely on my watch list though!Read More...
Thank you @Moore Income ! Real estate is definitely an area of interest for me as well. Have you looked at Fundrise at all? A really interesting model.Read More...
@Theodora what kind of investing are you interested in? I know you can find a lot of resources on the web and YouTube videos that talk about specific kinds of investing. You gotta be careful with some of these though because some people really don't know what they are talking about. I personally like to learn as I go and watch a lot of YouTube videos on specific types of investments (ie. stocks, real estate, etc.) I use a lot of investment apps that are pretty straightforward for making...Read More...
Last Reply By Moore Income · First Unread Post
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