There are chicks actually doing this - can you believe it? Selling your virginity for money?! Oh man, talk about entrepreneurs ;)

But let me ask you this. Honestly, if you could take it back - knowing what you do now about it all - would YOU give up yours for a large amount of money? And if you say no, which I'm guessing 85% of you will (you know we'll have some guys raise their hands on this one), is there a price point that would change your mind?

It's funny. Whenever I hear about this stuff the first thing that crosses my mind is "What the f*ck?" WHO would do that? But then as I read their stories it gets less offensive for some reason. They need the money to go to college, or they need a new house, etc etc. I'm not saying I agree with it or that I'd do it myself (I wouldn't - I'm a good little Catholic boy) but I find it extremely interesting that others would. I mean, they're not only doing something so out of normalcy here, but they're doing it publicly!!! For everyone to see - knowing they're gonna get slammed for it! (no pun intended) It's absolutely stunning.

And if you think about it, you KNOW it's going to be the safest sex ever. The winner/highest bidder will get checked out like none other to make sure he's (she's?) clean as a whistle, and there will be bodyguards everywhere making sure the guy's not a psychopath. Which, lets be honest, would be hard not to come across as.

Unless, perhaps, the person "buying her" does it in order for her NOT to give it up! It's a long shot, but anything's possible right? If you had a billion dollars and were totally against this nonsense, would you jump in and save her? I sure as hell would. If I were clever enough to think of it first ;) Can you imagine the press I'd get for Budgets Are Sexy doing that!! Or even working on BUDGETING that in? haha...oh man, good times.

But enough about me, what do you guys think? And what do you *honestly* think, not the answer you know we want to hear ;) Is there a price that you just couldn't turn down? Say, $2 million dollars? Or are there just some things that are strictly off the table?

Labels: blown money, cockamamy indeed, in the real world

Yes, but I'm starting to question myself. I wake up - think about blogging. During work - I think about blogging I blog. When I get home, I tweet/email/do blog stuff. For someone who naturally doesn't like to write, it's all very strange to me. (although my wife would say this is more like "talking" and networking than "writing," and I think it's true.)

I liken it to my early years when all I thought about was women ;) But now that I'm married, it's more like having a mistress instead - a mistress that goes by the name of Budgets Are Sexy! Ow ow! At first I thought it was just a phase, but here we are 2 years later and my passion is only growing for her. It's just so damn exciting! The question though, is whether I'm addicted. And I just may be.

Which brings me to my point today - I think I need a vacation. More specifically, I think I need to join all our friends on a 10-day Eurotrip this Spring! (didn't see that one coming, huh?). The more I learn about money, the more I realize the importance of spending it on things you truly value - and not to hoard it. I always TRY to keep this in mind, but the reality is I don't. I save and save and save, and then I get addicted and never want to spend any of it! Haha...I'm not saying it's totally bad, but it's def. not the most healthy.

If there's one thing I have never regretted in life it's traveling. And even more so with my crazy friends and all their crazy significant others. It may slow down my millionaire plan for a bit, but traveling always repays you back in "life experiences." And in all honesty that's a lot more important to me than more money in the bank.

So instead of making up excuses and worrying about missing all my money AND my blog stuff, I'm gonna say F it and just do it! Yes, I WILL go on that trip with all you, friends :) This blog will be fine without me for a little while, right? And doesn't the iPhone work in Europe anyways? haha... it will surely be expensive, and you know I'll blog about it later, but I think it would be stupid of me to pass on such a once-in-a-lifetime adventure like this. As the saying goes, you can always find ways to get more money, but you can never get your youth back!

Labels: blogging, life, travel

I'm giving the last $50 Visa card away today! It's given away now! But we got a ton of other stuff coming so be sure you're signed up :) Books, iPods, discounts, lots...

Now for my favorite articles & carnivals this week:

1. FMF's Blogger Bracket: J. Money vs. No Debt Plan @ Free Money Finance - Did you enjoy my Lottery-to-Charity post the other month? I'm battling it out in FMF's blogger bracket and need help winning the 1st round (I never make it! haha..). Would love it if you could drop a comment there and vote for me by leaving "lottery" in the message. Thanks!
2. Jeff joins my Millionaire's Club! @ Deliver Away Debt - Our crazy club now has 26 members in it, but this is by far the funnest millionaire to-do list I've seen yet ;) The pictures alone are worth it!
3. I hate finances and money...simply hate them @ Clever Dude -Haha...
4. Do "C" students deserve "A" lifestyles? @ Financial Samurai - Interesting!!!
5. Who do you trust for online business advice? @ Copyblogger - Not the scorpion!
6. Best of Money Carnival #36 @ Financial Highway
7. Carnival of Money Stories - "Tell me a Fairy Tale" ed. @ Modern Tightwad
8. Carnival of Personal Finance #242 - "Fun Tax Facts" @ Cash Money Life

Labels: giveaways, weekly roundup

We've got 5 TurboTax codes to giveaway my friends! Brought to you by none other than J. to the Money, and T to the UrboTax! Haha...and all because I went out drinking with them the other night (can you find me in the pic?). Well, that and I have a personal finance blog ;)

But because of them, 5 lucky winners will be able to file their federal AND state taxes for FREE. That's a $70-$90 value, all for being awesome and reading this blog - so I hope you guys could use these! Here's a little more info on 'em (I have 3 Deluxes, and 2 Premiers):

1. TurboTax online Deluxe ($70 value): FREE Federal & 1 FREE State filing- Good for those who own a home, made donations, or have medical expenses.
2. TurboTax online Premier ($90 value): FREE Federal & 1 FREE State filing - Good for those who own stocks, bonds, mutual funds, or rental property. Plus all the above stuff Deluxe does.

Keep in mind these are *online* codes, so you'll have to be comfy with filing them at TurboTax.com (but everyone tells me it's a piece of cake). If you file your own taxes, this giveaway is for you! Not even ME who still pays an accountant to do it ;) But considering the jabs I've been taking this year, I might have to own up and see what the fuss is about.

To enter, all you have to do is this:

1. Drop a comment telling me what you'll be doing with your tax return money! And if you're not getting any back, just make something up ;)
2. Leave a way for me to contact you. *very important* (email, twitter, blog, whatev.)

That's it - nice & easy so that everyone can enter ASAP :) The contest is open until Saturday night (midnight), and we'll have trusty ol' Random.org choose the winners soon after. All winners will be updated on THIS post, and I'll contact you if you're one of them. GOOD LUCK!

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PS: After you comment, enter my other friends' TurboTax giveaways --> Mapgirl, Clever Dude, My Next Buck, and Bible Money Matters. If you can't win one of those I'm afraid you're just plain unlucky.
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*CONTEST OVER* Thanks for participating everyone! Here are the beautiful winners --> Andrew, Jennifer, Mike Blythe, Christine, & the "cocaine & hookers" Anonymous ;) Got a ton more giveaways coming up so keep your eyes open!

Labels: giveaways

The times are a changin', and so are the tax laws my friends. So today I thought I'd post up a few interesting changes that caught my eye from a newsletter (pdf) forwarded over to me. This tax love comes straight from CPA Lisa Scarazzo, and goes out to all her clients each year.

I wanted to post it all up, but 5+ pages might have bored ya so we stick with a few ;) But mad thanks to Lisa for allowing us to post this up! You can find her & all her awesome accountant skills over at LAScpa.com. Here's what we got:

Ponzi Scheme Losses
A new law is allowing taxpayers to take a theft loss in 2009 for investment fraud. If the taxpayer invested their own cash and the loss is generated from a criminal fraud or embezzlement similar to the Madoff scheme, the loss will be deducted from ordinary income. The loss is deductible in the year it is discovered and not limited to the $3,000 capital loss per year rules.

Converting a Traditional IRA to a Roth IRA
In 2010 anyone can convert money they've already invested in a traditional IRA into a Roth IRA. There will be no adjusted gross income limit for the 2010 year. That is a change from current law where the IRA conversion is not allowed if your adjusted gross income is $100,000 or greater when you convert to a Roth. You will owe tax on whatever amount you have converted from the traditional IRA to the Roth IRA. After paying the tax on the conversion today, you will never pay any tax in retirement or when it is withdrawn. The good news is that if you convert in 2010, the tax bill can be spread over two years. (J - we'll be converting about $900 of the Mrs. traditional over to a Roth this year - woohoo!)

New and Enhanced Home Buyer's Credit
This credit has changed for 2009 into two different credits: 1) Existing Home Owners that have lived in and owned their home for at least 5 out of the last 8 years, and 2) First Time Home Buyers. Both of these credits have income limitations so please check with our office for further details to see if you qualify.

• Existing Home Owners now have the opportunity to purchase a new home if they have owned their current home for at least 5 out of the last 8 years and receive a credit up to $6,500 or 10% of the purchase price of the home. The total purchase price of the home can not exceed $800,000. The new principal residence must be purchased after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April 30, 2010).
• The First Time Home Buyer Credit is available on the purchase of a principal residence for individuals who have not had an ownership interest in a home during the 3-year period ending on the date of the purchase of the new home. This does not apply to home equity loans not used to buy, build or improve the primary residence. The credit is increased to a maximum of $8,000 or 10% of the purchase price for homes purchased between January 1, 2009 and April 30, 2010 and the credit does not have to be paid back to the IRS in the future (this differs from the 2008 $7,500 credit).

Foreclosures & Bankruptcy
In general, if a taxpayer is forgiven or absolved of their debt (credit cards or mortgages), the debt becomes taxable income. The Mortgage Forgiveness Debt Relief Act will exclude debt forgiveness from taxable income if the taxpayer's debt was a mortgage from their principal residence and the debt was used to buy, build, or improve their residence (home equity debt does not qualify). This is for years 2007, 2008, and 2009.

*ALERT* IRS Email Scam
An email is circulating that makes a statement similar to this: "A refund will be issued to you from the IRS if you follow these instructions." This is a scam - the IRS does not send emails to individuals. The IRS only sends correspondence via the U.S. Postal Service. Never open an email that claims to come from the IRS.

Financial Steps to Solvency
Many individuals are looking for ways to financial recovery. Here are my recommendations: (J - links go to my posts, not Lisa's....although would be interesting to see her go into more detail ;) )

1. Cut Spending.
2. Track Expenses & Budget.
3. Increase income (if possible) by taking a second job.
4. Pay off high interest loans & negotiate lower interest rates on loans & credit cards.
5. Pay bills timely and make contact with creditors to set up a payment plan for overdue bills.

I know this isn't the most exciting stuff, but it's all good things to keep in mind! And thought I'd shoot over before everyone's already filed away ;) Thanks again Lisa! For more info and tax tips, check out her full newsletter here: Annual Individual Tax Newsletter 2009 (pdf). *Please always remember to do your OWN research and consult a professional before taking action*

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Get ready for a handful of TurboTax giveaways tomorrow!!

Labels: bankruptcy, foreclosure, roth ira, taxes

Yo, what's going on stocks? Tired of the rally already?

It sucks going back like that, but I suppose it's gotta take a break some time ;) Have to take it like a man when most your money's in the market - all part of the game.

We had some decreases in other categories as well - not related to the stock market - but they can all be explained for ;) The one area I WAS pretty happy with was regarding our mortgages. While $160 towards our principal isn't a crap ton of money, it does decrease or future debt and nasty interest! I just wish I had the balls to throw in $400 or $500 a month, but you all know my 401k & Roth are my first priorities. Gotta hit that $1 million mark, baby!

January 2010 Net Worth break down:

CASH SAVINGS (-$346.05): Yup, we're starting to burn through a little cash now that I'm gearing up for 90% contributions to my 401(k). It doesn't accurately reflect yet into these calculations, but you'll be seeing some nice jumps in the near future ;) That also means, however, that I'll be pulling from my savings account every pay period for a while to "pay myself" until I max out and can start taking 100% paychecks again. I'm not bad ass enough to live off of $69 yet. Haha...

EMERGENCY FUND ($0.00): Same $10,000 this month as it was last month, and the month before, and the month before that. In fact, I think we've had this $10k for almost a year and a half now :) Let's hope we keep it that way!

ROTH & Traditional IRAs (-$277.34): Same story here as with the 401k drop-ness. The markets are losing momentum again and taking the country's accounts down with it. Until the 401(k) is maxed and my savings gets a healthy does of cash injection again, we'll be holding tight on our IRAs. I DO plan on maxing out the Mrs and I's Roths this year, but it just won't get done until mid-to-later this year. One step at a time.

401(k)s (-$5,173.26): Down down down in a burnin' ring of fire! That's how Mr. Cash likes it anyways ;) But interestingly enough, as I write this up the market is on a rally and I'm seeing some nice increases! We'll see if it carries on throughout the month though. In the meantime, I'll be continuing to push 90% of my salary here so I can max out and get them as cheap as I hopefully can. Gotta get that employee match and hit my #1 goal for the year!

AUTOS WORTH (kbb) (-$150.00): My Caddy's still alive! haha...I still have this red "scary" light on but I've been told it's "just" my suspension. I could get 'er fixed for a nice little sum, but I'm gonna see what happens if I don't :) If it gets bad I'll try and find a deal, but I really don't think it's going to last many more years anyways. I hope it does though!!! Love my baby. Here's where our car values stand right now (the decrease this month was from Toyota):

• Pimp Daddy Caddy: $2,970.00
  
• Gas Ticklin' Toyota: $8,985.00
  

HOME VALUE (Realtor) ($0.00): This will remain @ $300k (the price our realtor set it at) until I hit him up later for another review. He's the master in our particular neighborhood, and has been selling (and living) in this area for 20+ years. I keep an eye on Zillow & Redfin.com as well, but they fluctuate so much that I never can tell what's real and what's hype.

CREDIT CARDS ($0.00): Still at Zero! I just really don't want to take this out of the equation as it makes me so damn happy looking at it. So we continue leaving it in for now...maybe I'll go crazy and put something on it! haha...only if it's a benz. Or a trip around the world.

MORTGAGES (-$162.98): Another excellent month knocking down some principal! We're still screwed w/ the refinancing option, but it doesn't mean we can't pay parts off bit by bit. Every dollar against the principal cuts down on your interest payments! Here's the breakdown:

• Mortgage #1: $286,818.64 - 30 year fixed, interest-only @ 6.875%.
• Mortgage #2: $62,559.10 - Maxed out HELOC w/ 2.8% interest.

Here's to a better February!

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*My budget has now been updated.
**And so have my sidebars. And my excitement for Jersey Shore II.

Labels: net worth

TWENTY-FOUR THOUSAND DOLLARS for a roof over our head - and that was only for our mortgage interest & taxes! Haha...talk about a wake up call.

If you are a home "owner" I'm sure you know what I'm talkin' about, but I've said it before, and I'll say it again - if you're looking to own a home one day be absolutely certain you're ready to pay for the associated costs.

There are a ton of benefits that go along with this "American Dream," (tax write-offs, stability, equity, etc) but you've got to be aware of the financial drains as well. And as most of you know, had I been more aware 2 1/2 years ago I would have done things a lot differently -- Like either bought a smaller place or continued renting for a couple more years.

But it is what it is, and today I thought it would be interesting to see the breakdown of how our living situation has changed financially since renting. The numbers may be off a bit as I can't recall exactly what we paid while renting (I didn't start tracking this stuff until after we bought - when I realized I need to pay more attention!) but it's pretty close:

CATEGORY Mortgage(s)/Rent Extra Principal Taxes Condo Fees Utilities (non cable) Insurance Maintenance ------------------ TOTAL:

Owning $1,800 $200 $278 $130 $150 $75 $100? --------- $2,733

Renting $1,300 $0 $0 $0 $200 $50 $0 --------- $1,550

As you can see, we pay about $1,200 MORE a month right now . That's pretty substantial, even with the tax write-offs (we may see about $600 of it back if I had to guess). But even crazier here, 100% of all that interest & taxes are NOT going towards the principal loans we took out on the house! Meaning we still would have owed the original $360k had we not been chipping away at it by our own accord (we have 100% financing, which surprisingly we actually like!)

So if you do own, or you're thinking about owning, take all these things into consideration :) Just applying $100 or $200 extra a month towards your mortgages will drastically cut the amount of interest you'll eventually pay in the end & won't drive you *as* crazy. But I must warn you, it's not that easy. I've been praising it for over a year now and I still struggle every time I sit down to do it! Haha...next time we'll be buying a place closer to the lower end of our budget, not our highest.

How much did you all end up dishing out in interest & taxes last year?

Labels: home ownership, mortgages, taxes

I had a flashback yesterday of all the ways I used to find money back in the day.

I'd probably still do some of them if they crossed my mind at the time, but for the most part I'm gonna leave it to the younger generation to keep alive. I'm a little too old (and lazy) now to pull some of these off. That being said though, it's a good reminder to keep on searching for new ways to save!

Here are the 4 old school hacks that came to mind:

1. The Non-Collect Call. ("Hey-Mom-Pick-Me-Up!")
Hahaha.... this was definitely by far my favorite. When you didn't feel like wasting a quarter you'd just call "collect" and use the 3 second interval allotted for your name to get across whatever it was you needed! So if you were stuck at band practice, or your soccer game was over and you needed a ride home for example, you'd just call up and say "Hey-mom-pick-me-up!" as your "name" and then hang up once you knew your mom heard it ;) It wasn't illegal, per se, but you know the telephone companies hated it. Do collect calls even exist anymore?

2. Searching pay phones for quarters.
Oh man, I'd stick my fingers in those grungy metal slots time and time again poking around for coins! Even when my success rate was a mere .5%. The ones at my school never had any in them (probably because of all the collect calls!) but the Malls were crazy rich with coins. You circle the 5+ phone banks there on a busy Saturday afternoon and you'd easily come up with a dollar or two - maybe even $3 if had a few hours to spare.

3. Crawling under clothes racks & tables at stores.
You could only get away with it as a kid, but you'd be amazed at the stuff that falls under those things. Sunglasses, toys, dollar bills, all sorts of goodies. The smaller you were, the better too since you could slip right under them and have enough time to thoroughly inspect before getting caught ;)

4. Scouring the bottom of pools & lazy rivers at amusement parks.
I kid you not, I once found a diamond ring at the bottom of the lazy river at Kings Dominion! I turned it in of course, but you better believe I went back to see what else was down there. And just as I suspected it was rich full of coins! My biggest "score" was $10 in half dollars - 3 hours after finding that ring ;) Although 2 hours after that I realized all my friends had left me...haha...

So yeah, the good ol' days of hustlin'! It wasn't as lucrative as working a part time job or mowing lawns for a summer, but it sure got our creative wheels turning. And that's really the point of all this today - to keep searching for new and improved ways to reach our goals. We don't have to turn into shady bastards or anything, but there's usually more than 1 way to get from A to B. (perhaps you'd like to share some of YOUR secrets, now?)

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Photo credit: stevendepolo

Labels: money hacks, saving

Yup, it's another Friday and I'll be giving away another $50 Visa card today! But you gotta be signed up to the V.I.P. Newsletter to win ;) We'll do another $50 next week, and then continue giving away something awesome almost every single week! So stay signed up mi amigos.

Now for my favorite articles & carnivals from the week:

1. I'm working to make my slave as big as possible @ Free Money Finance (yes!)
2. 2010 NY's Bash Giveaway: $9,200+ in cash & prizes @ Money Crashers (CRAZY)
   
3. Weird/Cool things that I would not spend money on @ Well-Heeled Blog (Hah!)
4. Where Americans pay the most to live and why @ Financial Samurai (interesting)
   
5. Lifestyle Design and Debt Freedom go Hand in Hand @ Enemy of Debt (100%)
   
6. Overdraft Protection is a good thing @ Bargaineering (esp. if tied to another acct.)
   
7. Carnival of Personal Finance #241 @ My Journey To Millions
8. Best of Money Carnival #25 - "All over the place" ed. @ Studenomics
9. Carnival of Money Stories @ My Journey To Millions

Labels: giveaways, weekly roundup

Did I get your attention? ;) I hope so, cuz this hip-hoppin' rabbit is awesome. And even more so if you're a little kid! (which, let's face it, is like 1/2 of us.) So today's post is a bit of budgeting, a bit of fun, and bit of a cool giveaway. And no I'm not getting paid to say any of this, I genuinely think this is an awesome product for any rugrats you may have.

First, a little summary on Sammy The Rabbit:

"Sammy Rabbit is a nationally acclaimed bunny who teaches children to save money (and other good habits) through story books, music, coloring books, stickers, standard-based lesson plans, training guides, and live author-character appearances. He's been featured by Kiplinger's, MSN Money, the Motley Fools, etc. and has been recommended by numerous experts including author David Bach, the Automatic Millionaire. As Steve Rosen, Kansas City Star Editor pointed out, Sammy's multi-media approach to financial education that includes toe tapping music is intelligent and infectious. Sammy is easy and inexpensive for adults to use and easy for kids to understand."

What probably sold me on this, though, was that fact that this rabbit raps! And not only that, but he has a Budget Rap! So naturally I was impressed from the get go. So much so that I'm now going to copy and paste the lyrics to this budgeting greatness, and then give you the link to listen to the mp3: Play Me. It's not as great as MY rap song (thank you very much) but it's definitely more appropriate for the youngin's ;) Check it:

B-U-D-G-E-T BUDGET!

Chorus
A budget is a money plan
Tells you where and when your money's coming in
Tells you where and when your money's going out
Keeps you from spinning round and round
Shows you just how your money flows and where your money goes

You add it up, you subtract it down
In and out, up and down
That's what a budget's all about
Answers all your who, what, when, where's and why's
Gives you the 4-1-1 doesn't tell a lie
Let's you know if your ahead or behind
Keeps worries from your mind
Free from money binds
In, out, up, down no spinning round and round
That's what a budgets all about

Chorus

Let's not debate
Let's talk straight
A budget backs you up
Same as a measuring cup
Keeps you out of quick sand
On the road to the promise land
Gives you the time and date
Of everything you spend, everything you planned
It's just a chart
That let's you know how your money flows
Where your money goes
You'll stay out of the hole so you stay in control
So you have plenty of money to rock an roll

Chorus

If only everyone listened to this furry young man! Now to keep his words alive, we'll be giving away 3 Celebrate Savings! CDs. It contains 15 songs from a variety of genres of music (pop, gospel, rock, rap) that promote smart money management, choice making, and leadership. The It's a Habit group was also kind enough to add in 3 packages of "Sammy Sayings" stickers too!

To win one of the CD/Sticker packs:

- Drop a comment sharing a tip on how to teach children about money!
- OR/and respond to any of my newsletter emails w/ your tip! (you can sign up here if you want the extra chance.)

I'll be giving away 2 CD packages here, and 1 to a newsletter subscriber. And instead of using Random.org this time, I'm going to hand select them myself :) So the most clever/interesting/fun tips will get you closer to winning! Good luck! And thanks again to the Its A Habit company for donating them.

*Contest ends this Saturday, 1/30, @ midnight. Winners will be posted back on THIS post*
*Open to only U.S. Residents, sorry!*
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WINNERS --> Sal & Becky CC - Congrats guys! Stay tuned for more giveaways later :)

Labels: awesomely awesome, budgets, giveaways, kids finance