Author Archive | Matt Bell

Twenty years ago, when Nike signed basketball superstar Michael Jordan to an endorsement deal, $100 basketball shoes became all the rage. Kids begged their parents for a pair. Some even killed for them. Flash-forward to today and New York Knicks guard Stephon Marbury is out to end the insanity of overpriced sneakers. As reported on […]

Recently I asked you to share the best financial advice you’ve ever received. Here’s a second installment of some of that advice. A reader named Bob said that during a pre-marriage class he and his then fiance attended, the teacher suggested using pay raises to build an initial savings account. In Bob’s words, “I can […]

What’s the biggest mistake you can make when leaving your job for greener pastures? Posting a video of the last office party on YouTube? Using the boss’ reserved parking place on your last day? Cashing in your 401(k)? Okay, they’re _all_ bad ideas. But the worst _financial_ mistake you can make is closing out your […]

Employer-sponsored 401(k) plans are becoming more generous. As reported in _USA TODAY_ recently, 36 percent of such plans now offer a 100 percent match on employee contributions. In other words, for every dollar an employee saves in a 401(k) plan, their employer kicks in a dollar as well–usually up to a certain percentage of the […]

Do you have an emergency fund? If so, you’re in the smart minority. Just 40 percent of Americans have such a fund, according to a new Consumer Federation of America survey. While higher income households are most likely to have an emergency fund, even among the highest earners more than 40 percent said they do […]

A couple of weeks ago I asked you to send in the best financial advice you’ve ever received. Several readers said it was to base their lifestyle on one income right from the start of their marriage. Initially, following that advice enabled Jennifer and her husband to pay off an automobile loan. Ever since, the […]

Something that’s actually become less expensive over the years is term life insurance. According to a _Wall Street Journal_ story on 2/21, longer life spans are driving the prices for such policies down, and the growing popularity of level-premium policies is making it easier to compare costs among providers. The article pointed out that if […]

As part of a special section on Baby Boomers, _Money_ magazine recently asked several Boomer celebrities about the best money management advice they ever got. Novelist Alice Walker pointed to her father’s encouragement to get in the habit of saving money as early as possible. Her first deposit was 50 cents that she earned selling […]

How would you define “the American dream?” A nice car? An annual vacation? A home theatre system? A recent MetLife survey asked that question and the most common answer was financial security. In previous surveys, the American dream was defined as a combination of home ownership, a happy family life, and a stable career. But […]

It’s quiz time. What money management tool is used by over half of all millionaires in the U.S. yet is widely despised by most non-millionaires? Answer: a budget. The lowly budget’s image problem was the focus of a recent article by syndicated columnist Gregory Karp, and I was pleased to be part of the story […]