Ok, this post is a little random. But I recently learned about a new site that does one thing and does it well: sell ties. The site, www.wearcacti.com, offers free shipping and ties as low as $9 (if you order 5 ties). I actually ordered tie #21 (I wanted a little Trump vibe) and was very happy with the quality. Looking back, I should have ordered 3 ties for $11 each since I’ve been wearing the same ties for years.

I loved the simplicity of the wearcacti site. It reminds me of Google’s bare-bones simple interface. You can buy 1, 3, or 5 ties at an increasing discount. The selection is small at this point but I talked with an owner and he indicated they will be expanding their selection soon. If you’re in need of a tie update, check it out.

On an even more random note, here are a few sites that explain how to tie a neck tie:
Plezer
Krawattenknoten
Paul Fredrick

Shopping online can increase your ability to save money on items from
TVs to toys, take
advantage of the opportunity to compare prices.

Today I went to lunch with a very wealthy person. I don’t know exactly how wealthy , but based on his frequent trips to Maui, the fact that he earns a free plane ticket every month through his frequent flier points, and the fact that the other day he decided to go out and buy a truck just because he’s never had one before, there’s good reason to believe he’s close to a seven-digit earner. As I talked with him, it raised a lot of questions in my mind about how managing my finances will change as my wealth grows. If I were a millionaire would I still need to budget? Would I still want to track all my spending? Would I still need to negotiate with my wife about finances? It seems logical that with an income over $1,000,000 a year you wouldn’t need to plan as vigorously. But in the end thats a lie. Millionaires that manage their money irresponsibly can quickly lose it all and fall from grace (MC Hammer comes to mind).

Financial management principles are the same for millionaires and low-income-earners alike. Certainly the numbers your dealing with will change, but the basic principles and processes are still the same. In fact, by following sound financial management principles and optimizing your frame of mind, you can accelerate the process of building wealth and know how to keep it when you arrive. Here are 7 ideas that will help you think about and manage money like a millionaire, regardless of your income.

Read more »

Cafeteria plans can save you a lot of money and yet are one of the most under-utilized benefits that many employers offer. One of the reasons they’re neglected is because it can seem so overwhelming to determine how much money to set aside for medical expenses. Having just gone through the process ourselves, we wanted to share a brief overview of how Cafeteria Plans (FSA) work and how to optimize your participation.

My wife graciously volunteered to write this post and it’s her first post on GFD so be sure to give her extra praise and adoration!

It’s that time of year again. Rushing around, making last-minute decisions. I’m not talking about Christmas shopping. It’s the annual employee benefits festival—you come home with all sorts of insurance papers, medical, dental, life, and (my favorite) accidental death and dismemberment. It’s not enough that you still have Christmas shopping to do before you get ready for holiday traveling—you are supposed to find the time to make important financial decisions as well.

To help you on your way with minimal loss of holiday cheer, my husband has asked me to write a helpful guide to cafeteria savings plans. Even with the risk of making my debut on his site as “the cafeteria lady,” I have agreed. Read more »

I’ve been quietly updating my list of RSS Shopping Websites and I thought this new site was worth mentioning specifically. Boddit.com aggregates results from many of the major “deals” sites (most of which are on my list). I’m into convenience and efficiency so boddit.com is right up my alley. As I played with it, I was very satisfied with the thoroughness of the results. Some aggregation sites tend to be buggy but I haven’t run into any problems yet. When I searched for 17″ LCD monitor I just bought (that’s right, I finally got one) it properly showed the great $99 Best Buy deal I took advantage of (there aren’t even any rebates).

Unfortunately you can’t subscribe to specific search terms. But there is a main RSS feed and you can search on the site for specific items. Check it out!

If you’re a regular reader of GFD, you’ll know I’m a big fan of using cash to control your spending. But up to this point I haven’t really gotten into a lot of detail about how I manage my cash. To tell you the truth, there are almost NO tools out there for managing a cash-based budget other than the common envelope. Wallets are great for carrying a single chunk of cash, but they don’t help you organize cash by categories. This leaves a lot of room for creative thinking about how to manage your cash.

Greg over at StackBacks.com has a unique and GTD friendly way of managing cash involving envelopes, index cards, and paper clips. His method is a great way of divvying out your cash so you don’t spend it all at the beginning of the month, leaving you living like a pauper at the end of the month. It’s essentially a sort of cash tickler file (look under “Tools and techniques”).

Please let us know how you manage your cash!

Cash Allowance File