Bread From Scratch - Latest Comments

Re: Grocery budgeting

Valentina Allison — Wed, 25 Jan 2012 07:23:42 -0000

Hi,

Just wanted to drop you a note expressing my appreciation for your site "breadfromscratch.com" As a blogger and a freelance writer myself, I am always exited to make a long term partnerships. I tried to call you since no response.

Although, I mostly write for personal finance blogs. I would love to contribute an article for blogs that interest me a lot. It's a great way to expand one's portfolio, network with other bloggers and exploring new things.

I believe this will be of interest to your readers. The article will be 100% original, written with care just for your site and will not be posted elsewhere, however I would appreciate a live link back to our site. If you’re interested in this idea, please get back to me.

If you want me to write on any specific topic then let me know please..

Thank you so much for your time and consideration.

Re: Personal Finance Tools

Kris10denz — Thu, 01 Sep 2011 08:38:22 -0000

can you make a Credit Card Repayment Calculator for student loans as well?

Re: ING Electric Orange No Overdraft

Paul Butkiewicz — Mon, 15 Aug 2011 11:43:04 -0000

ING may not charge you an overdraft fee, but they will charge you daily interest (without a grace period) which will post to your account at the end of the month. As of May 2011, the annual rate was ~11.25%, which is still comparably cheaper than holding a balance on a credit card or paying a typical $20 checking account overdraft fee. However, because there's no grace period, don't be fooled into thinking it's a great alternative to a credit cards which typically don't charge you interest for the first 20-30 days after a purchase (check your grace period in your card member agreement).

Regardless, ING's overdraft feature is an excellent safety net for those of us that don't like balancing a checkbook. And now that they offer paper checks, it's become a realistic replacement option for the checking account you opened at the bank down the street.

Re: Retirement Calculator Post-Retirement Income Assumptions

Dionne Daniel — Wed, 15 Jun 2011 13:03:22 -0000

How about mortgages and retirement loans? Is it advisable to include them in Post-Retirement calculations, as options in case the need arises (like those not-so-predictable/totally unpredictable expenses for like, accidents and emergency repairs for example)?

Re: Retirement Calculator Post-Retirement Income Assumptions

Guest — Wed, 15 Jun 2011 11:20:00 -0000

cool table!

Re: LendingClub, Not Your Traditional Loan Consolidation Company

eyeks — Mon, 09 May 2011 14:40:21 -0000

Now that I've been a LendingClub investor for over 20 months, I could say I have some experience. I might add - all positive. I'll let my numbers do the talking...

In a portion of my fixed income portfolio, my LendingClub IRA account now has over 1,275 notes, it is yielding a reported Net Average Return of 13.5% after defaults and charge-offs. Of the notes, 19 have gone bad - that is, I lost my principal after the borrowers stopped making payments. Not a bad number. The industry average, I recall, is more like 17 unsecured loans go bad out of a 100.

As a lender, one should develop a borrower picking strategy, create a filter to implement said strategy and invest. It is a very rewarding experience... and not just monetarily. Taking a bite out of the banking fat wad while helping those in need directly is very satisfying. Check them out!

Re: Credit Card Minimum Payment Warning Calculator

john — Tue, 15 Mar 2011 22:01:31 -0000

@Ebony Sure! I am wondering if you can give me an example of what you're looking for? You are more than welcome to use any of the tools found here. Personally, I decided what to pay based on percentages. I pay the highest-interest first, the lowest interest last.

Re: Credit Card Minimum Payment Warning Calculator

Ebony Thomas — Tue, 08 Mar 2011 09:39:24 -0000

Hello John, I just came accross your blog and think it's awesome. I am teaching a class at my church on debt and was wondering (from your programming experience) can you share the "formula" for reducing your debt?

Re: The Government Recommends paying highest interest credit cards first

john — Sun, 06 Feb 2011 13:38:58 -0000

@Alex
You're right, that is the law now. From Federal law changes payment allocation:

A federal credit card reform law enacted in May 2009 requires that credit card companies must apply your entire payment, minus the required minimum payment amount, to the highest interest rate balance on your card. That requirement takes effect Feb. 22, 2010.

Re: The Government Recommends paying highest interest credit cards first

Alex — Thu, 23 Sep 2010 11:35:01 -0000

isn't it a law that whatever payment you make on the card - if you have 2 balances on that card (e.g. balance transfer at 2% and purchases at 19%), then whatever payment you make should go towards the balance with the highest rate first?

@ KP
from the financial perspective it doesn't make sense to try to close a 4% credit card, when you have another one tagging you at 20%. If you need a sense of accomplishment - find a card with a balance transfer and clear your card that way - credit card companies are actually very friendly accommodating balance transfers (even if they don't have a promotion, lots of time you can still call them and get a reduced rate)

Re: The Government Recommends paying highest interest credit cards first

KP — Fri, 09 Jul 2010 16:53:00 -0000

I agree with the strategy of paying off the highest interest rate cards first too, since they costs the most money. However, some people need a sense of accomplishment and find paying off the lower balance more motivating.

Nice work on paying off your debt John!

Re: Credit Card Minimum Payment Warning Calculator

KP — Fri, 09 Jul 2010 16:49:18 -0000

Great post John, thanks for sharing your tool. I think that this minimum payment warning is definitely a good thing for consumers.