Good Money Blog

• Net Worth
  The stock market rally of March and the tax refund pushed our net worth up by 7.23% (+$12,383).
• Bank and Cash Accounts
  The majority of my cash is sitting in high-yield online savings accounts such as DollarSavingsDirect (2.05%-2.65% APY), HSBC Direct (1.65%-2.25% APY), and E*Trade Bank (1.45%-1.95% APY).
• Other Assets
  That’s not a Zillow estimate but the price we paid ($201K) two years ago. Zestimate for our house is currently a bit below our purchase price.
• Investment Accounts
  • CDs
    I have a total of three CDs: A 6-month CD (4.00% APY) at HSBC Direct ($8K) maturing in April and two 12-month CDs (4.25% APY) at ING DIRECT ($23K) maturing in November.
  • I-Bonds
    I also have some I-Bonds ($10K) bought in April 2008 (~4.43% APY).
  • Portfolios
    In March, our retirement portfolios enjoyed a big jump (+13.3% vs. S&P 500: +8.5%). The 401(k) and Roth IRA accounts ($65K) are on track to be maximized in 2009. My taxable account (+7.1%) at Zecco ($16K) also had a great month.
• Credit Cards
  • Balance Transfers
    I currently have two 0% APR balance transfer offers ($22K), and the borrowed money is earning interest in CDs.
  • Usage
    I paid most of my expenses ($0.6K) with my favorite cash rebate credit cards - Chase Freedom and Chase Business Cash Rewards. The total balance is to be paid off at the end of the billing cycle.
• Loans
  The only debt we have is the mortgage of our house.

• Bills
  The bill amounts remained constant, we just spent less in all other categories!

• Net Worth
  Our net worth was artificially inflated by 2.18% (+$3,648), thanks to my annual bonus.
• Bank and Cash Accounts
  The majority of my cash is sitting in high-yield online savings accounts such as DollarSavingsDirect (2.65%-3.50% APY), E*Trade Bank (1.95%-3.01% APY), and HSBC Direct (2.25%-2.45% APY).
• Other Assets
  That’s not a Zillow estimate but the price we paid ($201K) two years ago. Zestimate for our house is currently a bit below our purchase price.
• Investment Accounts
  • CDs
    I have a total of three CDs: A 6-month CD (4.00% APY) at HSBC Direct ($8K) maturing in April and two 12-month CDs (4.25% APY) at ING DIRECT ($23K) maturing in November.
  • I-Bonds
    I also have some I-Bonds ($10K) bought in April 2008 (~4.43% APY).
  • Portfolios
    In February, our retirement portfolios kept shrinking (-8.6% vs. S&P 500: -11.0%). The 401(k) and Roth IRA accounts ($57K) are on track to be maximized in 2009. My taxable account (-4.0%) at Zecco ($15K) picked up one and only stock while anticipating a big ride down the hill.
• Credit Cards
  • Balance Transfers
    I currently have two 0% APR balance transfer offers ($22K), and the borrowed money is earning interest in CDs.
  • Usage
    I paid nearly all my expenses ($1K) with my favorite cash rebate credit cards - Chase Freedom and Chase Business Cash Rewards. The total balance is to be paid off at the end of the billing cycle.
• Loans
  The only debt we have is the mortgage of our house.

• Insurance
  We paid our semi-annual auto insurance. Surprisingly, the rate dropped a bit from six months ago.

• Net Worth
  Our net worth dipped by 0.50% (-$837).
• Bank and Cash Accounts
  The majority of my cash is sitting in high-yield savings accounts such as DollarSavingsDirect [new] (3.50%-4.00% APY), E*Trade Bank (3.01% APY), and HSBC Direct (2.60%-3.00% APY).
• Other Assets
  That’s not a Zillow estimate but the price we paid ($201K) two years ago. Zestimate for our house is currently a bit below our purchase price.
• Investment Accounts
  • CDs
    I have a total of three CDs: A 6-month CD (4.00% APY) at HSBC Direct ($8K) maturing in April and two 12-month CDs (4.25% APY) at ING DIRECT ($23K) maturing in November.
  • I-Bonds
    I also have some I-Bonds ($10K) bought in April 2008 (~4.43% APY).
  • Portfolios
    In January, our retirement portfolios quickly resumed the downtrend (-11.9% vs. S&P 500: -8.6%). The 401(k) and Roth IRA accounts ($58K) is on track to be maximized in 2009. My taxable account (-6.4%) at Zecco ($15K) will be active again when the time comes (not so optimistic).
• Credit Cards
  • Balance Transfers
    I currently have two 0% APR balance transfer offers ($22K), and the borrowed money is earning interest in CDs.
  • Usage
    I paid nearly all my expenses ($2.3K) with my favorite cash rebate credit cards - Chase Freedom and Chase Business Cash Rewards. The total balance is to be paid off at the end of the billing cycle.
• Loans
  The only debt we have is the mortgage of our house.

• Vacation
  We had a wonderful time with our family during Christmas and New Year.

• Net Worth
  Our net worth finally rebounded by 2.85% (+$4,669) in the end of 2008.
• Bank and Cash Accounts
  The majority of my cash is sitting in high-yield savings accounts such as E*Trade Bank (3.01%-3.30% APY) and HSBC Direct (3.00% APY).
• Other Assets
  That’s not a Zillow estimate but the price we paid ($201K) two years ago. Zestimate for our house is currently at our purchase price.
• Investment Accounts
  • CDs
    I have a total of three CDs: A 6-month CD (4.00% APY) at HSBC Direct ($8K) maturing in April and two 12-month CDs (4.25% APY) at ING DIRECT ($23K) maturing in November.
  • I-Bonds
    I also have some I-Bonds ($10K) bought in April 2008 (~4.43% APY).
  • Portfolios
    In December, our retirement portfolios showed some life (+7.8% vs. S&P 500: +0.78%). The 401(k) and Roth IRA accounts ($62K) were fully maximized in 2008. My taxable account (+3.6%) at Zecco ($15K) finally had its first ever positive month since opened last summer.
• Credit Cards
  • Balance Transfers
    I currently have two 0% APR balance transfer offers ($22K), and the borrowed money is earning interest in CDs.
  • Usage
    I paid nearly all my expenses ($3K) with my favorite cash rebate credit cards - Chase Freedom (3% cash back in top 9 categories) and Chase Business Cash Rewards (3% cash back at gas stations, restaurants, and home improvement stores). The total balance is to be paid off at the end of the billing cycle.
• Loans
  The only debt we have is the mortgage of our house.

• Taxes
  December could be better if there were no taxes due on personal property (car) and real estate.

• Net Worth
  Our net worth was down 1.76% (-$2,940) following the market meltdown.
• Bank and Cash Accounts
  The majority of my cash is sitting in high-yield savings accounts such as E*Trade Bank (3.30% APY) and HSBC Direct (3.00% APY).
• Other Assets
  That’s not a Zillow estimate but the price we paid ($201K) two years ago. Zestimate for our house is currently a bit above our purchase price.
• Investment Accounts
  • CDs
    To set aside the 0% APR money (see Credit Cards), I opened two new 12-month CDs (4.25% APY) at ING DIRECT ($23K). With the 6-month CD (4.00% APY) opened at HSBC Direct ($8K) in October, I now have a total of three CDs.
  • I-Bonds
    I also have some I-Bonds ($10K) bought in April 2008 (~4.43% APY).
  • Portfolios
    In November, our retirement portfolios went smaller (-7.9% vs. S&P 500: -7.5%). Nevertheless, the 401(k) and Roth IRA accounts ($57K) are still on track to be maximized this year. My taxable account (-3.8%) at Zecco ($16K) continued to pick up some bargains.
• Credit Cards
  • Balance Transfers
    As 0% APR balance transfer offers nearly dried up, I applied for a new Discover More Card (12-month 0% APR with a $75 transaction fee). That came after I had unexpectedly received a similar offer (12-month 0% APR with a $199 transaction fee) from my existing Capital One credit card. Therefore, I’m owing the banks again ($22K)!
  • Usage
    I paid nearly all my expenses ($3.2K) with my favorite cash rebate credit cards - Chase Freedom (3% cash back in top 9 categories) and Chase Business Cash Rewards (3% cash back at gas stations, restaurants, and home improvement stores). The total balance is to be paid off at the end of the billing cycle.
• Loans
  We still have 20 some years to go on our mortgage ($155K).

• Food/Vacation
  We had a romantic dinner at a high-end restaurant and several big meals during our weekend road trip!
• Household
  I bought a Wal-Mart gift card from eBay with a 30% Live Search cashback.
• Bank Charges
  That is the transaction fee paid for the balance transfers.

Even if you won’t plan to shop much this holiday season, you still can potentially save some money (e.g. gift cards) with this offer:

• 20-30% cashback* ($200 cashback reward per transaction and up to 12 qualifying purchases per account)
  • Search with Live Search and jump to eBay
  • Use “Buy It Now” and check out with PayPal
  • Cashback will be available for redemption 60 days after the purchase date
• Additional 10-15% eBay coupon code posted at RetailMeNot.com

To take advantage of this offer, you need:

• A Microsoft Live ID (Hotmail, Live Messenger, Zune, or XBOX Live account)
• A Live Search cashback account (sign up with the Microsoft Live ID)
• eBay and PayPal accounts

Here’s my step-by-step experience:

1) Create a Live Search cashback account

Create a Windows Live ID if you don’t have one. Otherwise, sign in with your Windows Live ID.

2) Go to Live Search and search for an item (like “Rock Band 2″)

In the search result page, look for the gold coin cashback icon and the link “Live Search cashback” that will take you to eBay (www.eBay.com).

3) Find the right “Buy It Now” item that will also accept PayPal

Note: You have 60 minutes to complete this qualifying purchase.

4) On the item page, click “Buy It Now” and review your order details

Enter any eBay coupon code you may have and make sure you still see “Microsoft cashback” with the cashback total.

5) Sign in to Live Search cashback account at eBay

At the checkout page, eBay will prompt for a Live Search cashback account. This will essentially link your eBay purchase to your Live Seach cashback account. Alternatively, you can sign in later after the purchase as eBay will send a message to your inbox in “My eBay”.

6) Check your Live Search cashback account again.

The cashback amount should appear as pending on the summary page. It will be on hold for up to 60 days until you can request for a paper check or a direct transfer to your PayPal/bank account (minimum $5).

Have a great holiday season!

Read eBay Terms for Live Search Cashback Rewards | Live Search Cashback Q&A

* Cashback offer varies over time.

"Spend $40 or more two times at Walmart Stores or walmart.com and get a $20 statement credit on your card account."

Just as my wife was hoping to get an extra portable heater for the basement so that she could comfortably play the piano there, I came across this great American Express/Wal-Mart promotion.

Since I’ve been a regular Walmart shopper, I basically need to enroll for this offer, dust off my American Express Blue Cash card, and go shopping between November 18 and December 18.

Merchant Offer Redemption and Payment Terms
Registered Cardmembers must complete 2 separate transactions of at least $40 or more at any Walmart Store or online at www.walmart.com. (each, an “Eligible Transaction”) between 11/18/08 and 11:59 PM EST on 12/18/08. You may register only one Eligible Card per registration and there is a limit of one (1) statement credit per Cardmember. Certain Merchant Offers may require only one registration for all such Merchant Offers; others may require separate registration for each Merchant Offer. The Eligible Card that you register for a particular Merchant Offer is referred to as the “Registered Card” for that Merchant Offer. To receive your Merchant Offer, your Eligible Transaction(s) must be charged in full to the Registered Card for that Merchant Offer. Each Merchant Offer is only valid during the times and on the conditions specified for each such Merchant Offer. Your savings from the Merchant Offer will be credited to the Registered Card account for that Merchant Offer as a statement credit. Generally it takes 5 business days, but it may take up to 2 billing cycles from the date of your purchase for such credit to be posted to the Card account.

• Net Worth
  Our net worth dropped a whopping 6.7% (-$12,036) in October!
• Bank and Cash Accounts
  I thought it’s time for bargain hunting, so I moved about $6K cash to my taxable Zecco account for additional stock purchases. The majority of my cash is sitting in high-yield savings accounts such as E*Trade Bank (3.30% APY) and HSBC Direct (3.00%-3.25% APY). With the interest rates heading much lower in the near future, I moved a portion of my cash to a 6-month CD.
• Other Assets
  That’s not a Zillow estimate but the price we paid ($201K) two years ago. Zestimate for our house is currently around our purchase price.
• Investment Accounts
  • CDs
    As mentioned, I opened a new 6-month CD (4.00% APY) at HSBC Direct ($8K).
  • I-Bonds
    I also have some I-Bonds ($10K) bought in April 2008 (~4.43% APY).
  • Portfolios
    In October, our retirement portfolios took a big hit just like everybody else (-14.9% vs. S&P 500: -17.0%). Nevertheless, the 401(k) and Roth IRA accounts ($60K) are on track to be maximized this year. As Zecco offered unlimited free trades in October, I took advantage of the offer and bought stocks little by little in my taxable account (-0.3%) throughout the volatile month. As a result, I made a total of 30 transactions.
• Credit Cards
  I paid nearly all my expenses ($1K) with my favorite cash rebate credit cards - Chase Freedom (3% cash back in top 9 categories) and Chase Business Cash Rewards (3% cash back at gas stations,  restaurants, and home improvement stores). The total balance is to be paid off at the end of the billing cycle.
• Loans
  We still have 20 some years to go on our mortgage ($155K).

With the latest credit crunch, it now takes a higher credit score to be considered a good credit risk. For instance, if you want to go buy a car today, you need at least a credit score of 700 to get a loan. Mortgages are also hard to come by.

I hadn’t checked my FICO score for nearly two years. The last time I checked, it was something below 800. Since then, I took advantage of several 0% APR credit card balance transfers and earned some interest off the free money. In July, I finally paid everything off. As soon as I found out Equifax was giving out free credit scores to 10,000 people this week, I jumped right into it.

And… yes! Mine is 793 or great (760-850).

According to Equifax, there are four major factors affecting my score:

• Amount of Debt [ Great ]
  • The only debt I have is the credit card debt used for routine daily expenses.
• Amount of New Credit [ Very Good ]
  • There’re two inquiries from my new service providers. In the beginning of the year, I switched to cheaper service providers for my internet access (AT&T) and paid TV (DIRECTV). The easy moves have been saving me $50/month!
• Payment History [ Great ]
  • I’ve never missed a single payment. Need I say more?
• Length of Credit History [ Good ]
  • I’ve a total of 9 credit cards. They have an average of 6 years of history, and the oldest card is 8 years ago. To possibly pump up the average length, I’ve been thinking about closing/merging my newest card with another older card issued by the same bank.

• Net Worth
  Our net worth went down slightly by 0.3% (-$599) despite the market meltdown.
• Bank and Cash Accounts
  The majority of our cash is now sitting at high-yield savings accounts such as HSBC Direct (3.25%-3.50% APY) and E*Trade Bank (3.30% APY).
• Other Assets
  That’s not a Zillow estimate but the price we paid ($201K) two years ago. Zestimate for our house is currently 9% higher than our purchase price.
• Investment Accounts
  • I-Bonds
    I have some I-Bonds ($10K) bought in April 2008 (~4.43% APY).
  • Portfolios
    Although our retirement portfolios dropped like a rock (-6.8% vs. S&P 500: -9.2%) in September, the 401(k) and Roth IRA accounts ($75K) are still on track to be maximized this year. If the market keeps dropping this way, I’ll consider picking up some bargains in my Zecco taxable account (-10.5%).
• Credit Cards
  I paid nearly all my expenses ($1.4K) with my favorite cash rebate credit cards - Chase Freedom (3% cash back in top 9 categories) and Chase Business Cash Rewards (3% cash back at gas stations, restaurants, and home improvement stores). The total balance is to be paid off at the end of the billing cycle.
• Loans
  We still have 20 some years to go on our mortgage ($155K).

• Food
  We spent more on food than we’d like as we dined out at least twice per week lately due to my wife’s new evening work schedule.