Best Money Tips: Electile Dysfuntion

Advertiser Disclosure ▾

This page contains affiliate links from which we receive a compensation. Like many publications Wise Bread is supported by affiliate commission from partner companies whose products appear on our site. This may influence which products we write about and the location and order in which products appear. We aren't able to cover every product in the marketplace.

Wise Bread Picks

• Travel Rewards Credit Cards
• Cash Back Credit Cards
• 0% Balance Transfer Credit Cards

Welcome to Wise Bread's Best Money Tips roundup!

The Dow Jones Industrial average dropped 486 points the day after the US presidential election, proving once again that Wall Street is not in the tank for Barack Obama. Kansas City Star

But that's OK, because Democrats usually do a better job of eliminating deficits than Republicans. Then again, Wall Street seemed happiest under Reagan. Bloomberg

What DOES President-Elect Obama plan to do with our economy, anyway? Consumerism Commentary

The potential players that are shaping Obama's plans. Forbes

One thing is for sure - if you feel optimistic about the future, you spend more. So, like, 52% of Americans are now spending more? Alpha Consumer

But then again, unemployment is at a 14-year high. Washington Post

GM would like a bailout too, please. CNN Money

A return to FDR-style economic management might be just the thing, but then again, it's coming from Slate.com, and we know that they are all pinko commies. Slate

JD offers all kinds of financial metaphors about fear and a faltering economy with Bull Moves in Bear Markets. Get Rich Slowly

"Never look at current or even recent earning, especially in areas like oil companies where we know they are inflated and coming down. Typically, what a value investor will do first is get a sustainable earnings number, an average PE over a business cycle. You really have to go back 10-12 years to get a feel for what average margins typically look like in these businesses."  US News World Report

What would you do if the new administration handed you another stimulus check? Five Cent Nickel

One really crappy thing about the bad economy? You have to keep your stupid job that you hate. The Digerati Life

Why being nice pays off. "As much as people like to believe that business dealings - whether you’re the consumer or the business - are impersonal, it just isn’t true. If you have ever had a job where you had to deal with the general public, unless you are an absolute saint, I am sure you’ve met your share of unpleasant people and your behavior towards them was affected by it." Pecuniarities

You'll do well to go ahead and start making New Year's financial resolutions now, since the rest of the year is going to fly by, and before you know it, it'll be January 1st, you'll be hungover, and you won't have any plan for the year. No Credit Needed

"I highly recommend that people get out of debt and stay out of debt, especially as the economy hits difficult times. It’s not a good position to be in if you lose your job while burdened with lots of debt. Better: become debt-free, with a good emergency fund and a small budget. That’s recession-proof personal finances." Zen Habits

Saving money before the second great depression might help you pull through it. Dumb Little Man

"A stock trading at a steep discount to the market and below the book value of its assets has already taken some tough punches -- and it could also be a sign that the worst is over.But just because the market has stopped beating up on a stock doesn't mean it's ready to make nice and come to its senses. That could take time. And that's why having a healthy dividend yield is important. In essence, you're getting paid to wait for the rebound." Motley Fool

With the economy sucking, there are other small things you can do to put yourself in a better economic position. Here are 8 of 'em. Mighty Bargain Hunter

Once the full recession hits, on the rare occasions that you are not at home eating a can of hobo beans, you can save money while dining out. Free Money Finance

Why excusing your poor financial behavior doesn't help matters at all. The Simple Dollar

Simple idea for getting your credit card's annual fee waved. I Will Teach You To Be Rich

Women pay between 30% to 50% more for individual health care insurance than men. And you thought women just paid more for haircuts. MSN Smart Spending

"Continue to make contributions to your retirement accounts. Our economy isn't the greatest right now, but the fact remains that practically all of us will retire from the work force at some point in our lives. Even those of us who love work and can't imagine doing anything else will come to a point where we can't work any longer." Market Watch

Feel like retiring with enough money to live on? Tips on how much you are supposed to put away for the twilight years. FIRE Finance

As a quick FYI, Millionaire Mommy Next Door moved her blog to a new domain.

Great round-up of 25 resources to help you weather the financial crisis. Broke Grad Student