Financial Fellow

…………………….Photo by zieak……………..…………………….Written by J.P. Wicklein

…..Recently I came across an article on The LRC Blog that provided a list of U.S. Banks that are near collapse. The article lists over 8,000 U.S. Banks along with their Texas Ratio (a measure of a bank’s credit problems). In short, the higher a bank’s Texas Ratio the worse their credit troubles. One could infer that banks with more severe credit problems are more vulnerable to collapse.

[Read more →]

…………………Photo by: urban data………………………………  Written by J.P. Wicklein

…..Recently I wrote a post on my biggest financial blunders. In the article I discussed buying a home too soon, maintaining a credit card balance, having minimal short term savings, and battling a short stint with gambling. Those actions were far from the smartest things I’ve ever done. That said every coin has two sides. Here’s the other side – my biggest financial achievements:

[Read more →]

………………..Photo by: doortoriver ……………………………….. Written by J.P. Wicklein

     Over the last month I’ve read a couple articles stating that Borders is in financial trouble. Today, I received an email promotion from Borders with the subject “Blowout Savings – Up to 75% Off”. The 75% off is only on select items through January 4th. They are, however, offering a 20% off coupon on any single item from now until December 28th. The coupon is also valid at Borders.com using the promo code “SAD5671A”. The 20% off promotion is for Borders Rewards members only. You can, however, sign up to become a Borders Rewards member for free – either online or at a store.

[Read more →]

………………………..Article Written by J.P. Wicklein

…..I just finished reading Keith Cameron Smith’s “The Top 10 Distinctions Between Millionaires and the Middle Class”. It’s a quick read – 112 small pages. The focal point of the book is, as the title implies, ten distinctions he draws between millionaires and the middle class. I’ve listed Keith’s top 10 distinctions below, in his descending order of importance. Don’t get too wrapped up in the negative statements about the middle class. He just uses them to contrast with millionaires. I’ve summarized a key point or two that resonated with me within each distinction.

[Read more →]

…………………..Photo by Hashmil

…..I enjoy hearing from Financial Fellow readers through your email messages and comments on articles that I post. Thank you for all of your excellent feedback. Please keep it coming!

…..With that in mind I’d like to hear more from you. What financial topics would you like to read about on Financial Fellow? Or, if you have an issue you’d like to express your opinion on let me know. I’ll post your comments for discussion. Additionally, if you’d like to author an article I’m always open to guest posts. What do you like or dislike about the website? What would you like to see more or less of? You can contact me here or just click on “Contact Us” in the menu bar above.

…..Thank you for visiting Financial Fellow! I look forward to hearing from you in the near future! Merry Christmas!

J.P. Wicklein

[Read more →]

………………..Written by J.P. Wicklein…………………………………..Photo by Waffler

…..Throughout the course of my adult life I’ve made smart financial decisions. On occasion, though, I’ve made some mistakes. With that in mind here are my biggest financial blunders:

[Read more →]

Written by J.P. Wicklein

     This past fall I remodeled my kitchen to make my condo more attractive to potential buyers to. (I’m selling it to move in with the love of my life). The new kitchen features maple cabinets, a granite countertop, and stainless steel appliances. The best part was that I did the entire remodel for under $10,000. Here’s how:

[Read more →]

Written by J.P. Wicklein

     We are becoming an increasingly cashless society.  Several years ago if you paid for your lunch at Subway with a credit card you’d get strange looks. Now, when I go to lunch at Subway it seems like half the people in line opt to pay with plastic instead of cash. It appears to have become just as acceptable to pay for $5 - $10 purchases with a credit or debit card as it is to use cash. Further, it’s becoming increasingly rare for me to see anyone paying cash for more expensive purchases. Why is this?

[Read more →]

…………………..Photo by: pnwra……………………………………Written by J.P. Wicklein

…..I’ve heard more than one person say “You should buy as large a home as you can afford in order to get a bigger tax deduction and make the most money off appreciation”. This is terrible advice. If you choose to buy a larger (more expensive) home due to factors such as a good school district, location, the number of bedrooms, or other non-financial considerations that is understandable. However, buying a more expensive home for the bigger tax deduction and greater gains in appreciation, or to use the deduction and appreciation to justify non-financial considerations, is as foolish as it is farcical.

[Read more →]

………………..…Photo by: bluryee…………………………………..Written by J.P. Wicklein

…..I like Diesel Jeans. They’re made with a high quality denim, fit well, and look stylish. They’re also expensive - $200 a pair. Many people would say that spending $200 for a pair of jeans is ridiculous. I agree with them. You can get a nice pair of jeans for significantly less. The fact remains, though, that I like them enough to shell out $200 for a pair every once in a while.

[Read more →]