The Finance Buff

A finance buff blogs about saving money, spending money, insurance, investing, and taxes.

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TFB Invitational Update – March 2010

Mar 10, 2010 5:35am

Back in January I created a virtual trading game on Investopedia called TFB Invitational. 13 other people joined me in this game. Two months into the game, I’m surprised to see that I’m currently in first place. My virtual portfolio is up 3%. I made two purchases, both profitable (so far),...

How to Shop for Furniture?

Mar 8, 2010 6:03am

The furniture I bought during the New Year’s holiday finally arrived. By the time they arrived, I almost forgot what they looked like. I’m so used to comparing products online. Buying furniture proved to be an entirely different experience. Although many stores sell furniture, there is actually very little information online....

The Need for a Consumer Financial Protection Agency

Mar 3, 2010 6:19am

Lately I received some comments on two related old posts: $10,000 Lesson On Variable Universal Life (VUL) and What Is WFG and What Does It Do? I’m pretty sure most of you don’t monitor the comments on old posts like I do. I’m using these to lead a discussion on...

Refundable and Non-Refundable Tax Credit in Charts

Feb 23, 2010 5:26am

One thing I’d like to learn to do a better job of this year is to communicate more effectively with visuals. A good picture is worth 1,000 words. In some of my old posts, I wrote 1,000 words but people still keep asking the very question I attempted to address....

PSA: Beware of Job Scams

Feb 18, 2010 6:41am

This is a public service announcement from the FTC. "It’s hard to believe someone would steal money from a person looking for a job. But unfortunately, no matter how bad the situation, scammers see opportunity. Many people looking for work have been ripped off by scam artists who promise a...

Low-Minimum Index Funds and Commission-Free ETFs for Small Investors

Feb 11, 2010 6:10am

The deal for small investors is getting better. If someone wants to invest in index funds and ETFs with very low cost, Vanguard is no longer the only choice. Competition is really good for customers. Schwab has 5 index funds that require only $100 minimum initial investment. The lineup is not...

New Tax Forms and Schedules for 2009 Tax Year

Feb 10, 2010 6:18am

Form 1040 for 2009 tax year has two new schedules. Schedule L is used for claiming (a) the additional $500 or $1,000 tax deduction for property tax paid, (b) the sales tax paid on a new car purchased between Feb. 17, 2009 and December 31, 2009, and (c) a net disaster...

Overhyped: The Smartest 401k Book You'll Ever Read

Jan 28, 2010 6:11am

I wasn't so impressed by Dan Solin's previous book, but I was willing to take a second chance on his The Smartest 401k Book You'll Ever Read because it got endorsements from John Bogle, founder of Vanguard, William Bernstein, whose books I like, and Taylor Larimore, a co-editor of The...

Spending Other People's Money

Jan 26, 2010 6:22am

Someone bumped into my car in a parking lot but wasn't decent enough to leave a note. The hood of my car was damaged. I went to two reputable body shops. One quoted $850; the other quoted $740. As body work goes, it's a small job. Because the bill isn't...

Why Is ACH Slower At Some Places Than Others?

Jan 19, 2010 6:10am

ACH stands for Automated Clearing House. It's low-cost method to move money from one account to another. When you have payroll direct deposit, it's done by ACH. When you give your bank account to an insurance company for automatic monthly payments, it's done by ACH. When you transfer money from...