Free Money Finance

On My Desk

I don't review every book a publisher sends me (for that matter, I don't even read them all -- not ones that lose me after page three at least), but for the ones I request, I do try and at least mention them unless I think they are really, really bad. Anyway, here are the few books that are currently on my desk:

• Enough: True Measures of Money, Business, and Life -- I'm excited about reading this one and plan to do so as soon as possible. I love Bogle, so I'm looking forward to it.

• Overworked, Overwhelmed, and Underpaid: Simple Steps to Go From Stress to Success -- A little too much psycho-babble for me.

• Nobody Wants a Million Dollars: How to View Money as a Personal Finance Tool Instead of a Life Goal -- Dan seems like a very nice guy, but the book's design is hard to get past. And FMF readers will know 99% of what's in it anyway.

Couple More Snowball Thoughts

Just finished "reading" The Snowball: Warren Buffett and the Business of Life this morning (I actually listened to it on CD.) I liked the book a lot as it gives great insight into Warren Buffett the man (not just the investor.) I've commented on the book a couple times previously (see Anyone for Snowballs? and Snowball Thoughts) and thought I'd add these last few comments to round out my thinking on it:

• Buffett was obsessed with money for most of his life. In fact, the book made it seem like he put money above people in most cases.

• He certainly put money above his family quite often. As you can imagine, this led to strained (at best) personal relationships and his family being a mess for much of his life. As I listened to the book, I could see Buffett "losing" his family because he didn't have time for them -- he had to make more money (in his mind.) It reminded me of this verse in the Bible:

What good will it be for a man if he gains the whole world, yet forfeits his soul? Matthew 16:26

• I thought it was going to end on a sad note. But in his latter years, Buffett grew more to appreciate his family and see how they were more important than making more money. Thankfully, they were all restored to each other (other than his first wife who never really came back to him the way he wanted) and it all seems to have worked out.

I found the book to be quite fascinating and I recommend it for anyone who's interested in Buffett or anyone who just wants to read a good biography.

Snowball Thoughts

I posted yesterday that I'm reading The Snowball: Warren Buffett and the Business of Life, a biography of Warren Buffett. I thought I'd post some of the points I found interesting in the book as I go along (I'm 1/4 of the way done so far.) Here's what I'd like to share so far:

• Buffett had a bad childhood. His mother was very critical (abusive) of him and his siblings. For Buffett, this led him to be very insecure.

• Buffett was always a "geek." He had very poor people skills. To combat this, he forced himself to go to a Dale Carnegie seminar.

• He had a basically photographic memory -- he would memorize his college textbooks BEFORE the first day of classes. He was also great with numbers (no shock there), a real genius.

• He often dressed poorly -- not really caring what he looked like (kind of a rumpled look.) Reminded me of what I've heard about Sam Walton. I'm not saying these guys were slobs, but they didn't really care about impressing others with fine clothes or spending money on fine clothes for that matter.

• Buffett worked hard at spending less than he earned and did this in two ways: 1. he worked to make as much money as possible (he was obsessed with making money) and 2. he spent as little as possible (most people would probably call him "cheap".) Again, a lot like Sam Walton.

• He rented a house initially because he wanted as much capital as possible available to invest. When he did finally buy a home, he named it "Buffett's Folly" because he saw the $31k purchase price as "$1 million compounded over a dozen or so years." ;-)

• Like many successful men, he didn't start at the top. His initial business (after working for Ben Graham) was all him -- the investing, the office work, the accounting, etc. He did it all.

I'm really enjoying the book and will post other thoughts as they come up.

Anyone for Snowballs?

Anyone reading The Snowball: Warren Buffett and the Business of Life? I'm about a quarter of the way through it and am loving it so far. I like biographies anyway, and to read one on someone as interesting as Buffett is very compelling indeed.

If you want to know more about the book, you can check out this US News interview with the author.

Why I Love My Blackberry

I have to agree with this: it's not a Blackberry itself that makes your life become out of control, it's a lack of self discipline. People who say it's the Blackberry's fault are probably the same ones that lack the self-discipline to charge only what they can pay off on their credit cards each month, spend less than they earn, etc.

Personally, I LOVE my Blackberry. Why? Because it makes me more productive -- both for work and personal purposes. It's a one-stop place for me to store everything -- calendar, memos, email, tasks, and phone. I have everything in one place. And it's a small place -- easily carried. If I need to see if I'm free on a certain date, it's available. If I need to see what tasks I need to accomplish, it's available. If I need to make a call, it's available. If I need to write a note, it's available. In other words, it makes me much more productive by having everything in one place and always with me. 

And if I don't want to be bothered with/by any of those things, I can turn it off. And yes, I have the ability to know if I have a new email and still have the willpower not to look at it if something else is more pressing/important.

Here's a random list of the specific ways I've used my Blackberry to make my life easier as well as other issues that make it user-friendly and a winner with me:

• I can check/respond to email whenever I have down-time. Specific times it's worked recently in this way: while waiting in a dentist's office, while standing in a grocery checkout line, while sitting at my kitchen table reviewing some bills, while waiting at a restaurant for friends to join me, while waiting for the church service to start (we get there early and my wife often disappears to talk to others), and so on. Whenever there is down-time, it's easy to check/respond.

• I use it to see all the comments made on this blog. They are all emailed to me, so I can see what's going on/being discussed at all times. This makes it very easy to stay on top of things that way.

• If there's an emergency with a customer or consumer, I see it right away and can respond immediately. And since the other executives at my company have Blackberrys, I can get in touch with them quickly.

• I don't have to turn on my computer to get an email. The other night my wife was on the phone with her sister and her sister wanted my wife to read a letter she received. Our home computer is down in my basement office, and I didn't want to go down, turn it on, wait for it to boot up (about five minutes), and check email. So we had her sister email it to my Blackberry, and she had it in 30 seconds -- and with no hassle. Sweet!

• It syncs easily with Outlook, which is key for me. I can put more substantial documents/memos in the Blackberry via Outlook (easier to type in this way) and thus always have them for reference.

• I use it to take notes. Granted, I can't do a lot since I'm not that fast and the keyboard is small, but I can certainly type in key thoughts from a business meeting, seminar, or sermon.

In the end, because the Blackberry makes me more productive, it saves me time, makes me a better employee (which helps me make the most of my greatest financial asset) and makes my quality of life much, much better. What's not to love?

A couple final questions:

• Anyone out there use a Blackberry? What do you like/dislike about it?

• I haven't started using additional applications you can get for your Blackberry, but I'm interested in doing so. Any great ones out there that you can recommend?

SumoSac Review and Giveaway

Several months ago, I was sent a free Sumo Omni bean bag chair from the manufacturer. I tried it out for a few weeks, wrote a review, and gave one away. We still use it to this day, so when the Sumo people emailed and asked if I wanted to review their new SumoSac, I said "sure!" Little did I know what I was getting myself into. ;-)

The SumoSac is HUGE!!!!! As the site says, it's 3 feet high and 6 feet wide. It's so big that my son wanted to sleep in it one night when we moved to the basement to escape thunderstorms, so we let him and he loved it (and had plenty of room). He's about five feet, two inches tall.

Anyway, they sent me this monstrosity last month. It took me and my son about half an hour to open it and massage the foam into small bits (then a bit more massaging the next day to top that off.) Once we got it ready, my kids were all over it -- watching TV, reading, playing video games, and the like. My wife even got on it once, though I thought we were never going to get her off it. Then she tried to get off it herself and almost couldn't make it. ;-)

Anyway, we had to move it to our basement ultimately (where the kids have a playroom) because it is so huge that it was taking up a good portion of our living room (look at the pictures of it -- how it swallows the woman sitting on it -- and this is with it pushed up in the back, it's very wide when it's flat.) But then I found out that they have smaller models -- a five-foot version and a four-foot version -- so it doesn't HAVE to be as huge as the one I got.

I don't think I would pay $229 for one of these, but then again I've been known to be a bit "frugal." I'm not sure what a foam "bean" bag even goes for. Maybe it's a good price? I do know that one lucky reader here will be getting a GREAT price (free!) on one. But more on that in a minute.

I asked the Sumo people if they had any reviews of the product from others and here's what they sent me (many have pictures if you're interested in seeing different views of how big it is):

• Ms Xbox World
• Evil Avatar
• Double Viking
• GoNintendo
• Dueling Analogs
• Louisville Mojo

So here's my take: if you're a hard core gamer and want a comfy chair you can sit in for hours, this might be worth it to you. Or, if you have a huge gathering area for kids, teens, etc. in your home, this would be perfect as well. If you don't have the room, the cash, and the need, then it's not something you'll be interested in (though it is very nice for a relaxing day of TV watching.)

Now, here's how you can win a five-foot SumoSac for your very own courtesy of the people at Sumo:

1. Leave a comment below -- any comment.

2. Sometime early next week, I'll stop by the post, stop the submissions, and name the winner (who I'll select at random).

3. It will be that person's responsibility to check back to see if they are a winner and then email me their contact information.

4. I'll email the winner back and give them the contact name at Sumo to claim their prize.

A few rules for this giveaway:

1. I will be the complete and final judge.

2. Legal disclaimer: I can not guarantee the prize. Sumo has said they will deliver it, so I'm sure it will be fine, but since I can't control the prize distribution, I won't be held accountable if there's a mess up.

3. If you win something and do not contact me within a week of winning, I reserve the right to give your prize away to another winner. Note again: I won't track down the winners -- it's your responsibility to come back and see if you won.

4. Local laws, rules, and regulations apply.

Good luck! Post a comment below for your chance to win!

New Books in My Mailbox

Here's a listing of books I've been mailed from publishers as well as a short description of them from Amazon (along with the Amazon 5-star rating at the end). I haven't had time to read them (and I probably won't), but I at least wanted to bring them to your attention. For a list of books I can personally vouch for, see Personal Finance Books that Can Change Your Life.

• Full of Bull: Do What Wall Street Does, Not What It Says, To Make Money in the Market -- "I am going to initiate coverage on this book: BUY! The title perfectly encompasses the theme of the book. Stephen McClellan, a Wall Street analyst for 32 years, highlights common practices of research analysts and what they mean for individual investors. This is a quick read, filled with anecdotes from Stephen's long career and his sound investment advice. Full of Bull does not contain get rich quick schemes or any unique trading strategies, just observations from one of the industries greatest analysts." --Wall Street Reporter (4 1/2 stars)

• Live Your Road Trip Dream: Travel for a Year for the Cost of Staying Home -- [Road trips] take planning. For six-and-a-half years, I lived exclusively on the road. When I began my open-ended odyssey, I would have gladly swapped ten tanks of gas for a book like Live Your Road Trip Dream. Between these covers are the tools and resources that have helped many a vision become reality. This second edition has even more of the invaluable knowledge that Phil and Carol White have so ably compiled, organized and distilled to create the finest road trip planning guide now available in print. (4 1/2 stars)

• Gotcha Capitalism: How Hidden Fees Rip You Off Every Day-and What You Can Do About It -- What is Gotcha Capitalism? Coughing up $4 fees for ATM transactions. Iron-clad cell phone contracts you can't get out of with a crowbar. Paying big bucks for insurance you don't need on a rental car or forking over $20 a day for supposedly "free" wireless internet. Every day we use banks, cell phones, and credit cards. Every day we book hotels and airline tickets. And every day we get ripped off. But not for much longer. In Gotcha Capitalism, MSNBC.com's "Red Tape Chronicles" columnist Bob Sullivan exposes the ways we're all cheated by big business, and teaches us how to get our money back -- proven strategies that can help you save more than $1,000 a year. (4 1/2 stars)

• The Complete Chapter 7 Personal Bankruptcy Guide -- Your Easy-to-Follow Action Plan for Financial Recovery. Ready-to-Go forms with step-by-step instructions. Past-due notices, harassing phone calls and court actions can all be stopped, and The Complete Chapter 7 Personal Bankruptcy Guide will show you how. It gives you exactly what you need to stop living day-to-day and regain control of your finances once and for all. The plain-English instructions it provides will guide you through filing your own bankruptcy and finding that fresh start you deserve. (5 stars)

• The Complete Chapter 13 Personal Bankruptcy Guide -- Your Easy-to-Follow Action Plan for Financial Recovery. Fighting off creditors and trying to pay mountain-high bills can weigh anyone down. Stop living day-to-day and regain control of your finances once and for all. The Complete Chapter 13 Personal Bankruptcy Guide can help you put an end to the abusive tactics of collection agencies and guide you through filing your own bankruptcy. You deserve a new beginning and it starts right here. EVERYTHING You Need to File Your Own Bankruptcy. (no reviews)

See any that look interesting?

In My Mailbox

As you might imagine, I get a lot of books sent to me. Authors and publishers like to get the word out about their new books, and a cost effective way of doing so is to send out free copies and have them reviewed/mentioned on websites.

But at this point, I'm getting way more books than I could ever read (and some I wouldn't want to read if I had all the time in the world.) But rather than just pass these books by, I thought I could at least mention them, give a few words about them from Amazon.com, and let you all decide what you may or mat not like to read.

Here are three I've recently received with a few thoughts from me on each:

Stay Healthy, Live Longer, Spend Wisely: Making Intelligent Choices in America's Healthcare System -- Written by a practicing family physician employed by one of the nation's top healthcare organizations, Stay Healthy, Live Longer, Spend Wisely provides critical information readers need to make intelligent medical and financial decisions to not only increase their chances for good health but also to get the most value out of their healthcare dollars. It is the only book that simultaneously tackles both the medical and financial perspective of staying healthy.

This easy-to-understand handbook provides the valuable insider tips on how to select a high-quality health insurance plan, how to make every doctor's visit productive, whether body scans, dietary supplements, or concierge physicians are worth the money, what and who are the various primary care and specialist physicians a person may encounter, the truth about generic and branded medications, and which tests, procedures, and actions must be done to stay well both physically and financially. As healthcare becomes increasingly expensive, confusing, and difficult to navigate, this book clears the clutter and provides readers with useful information they won't find anywhere else.

This is one of the three that I might actually read. Sounds interesting and practical to me.

The Intelligent Portfolio: Practical Wisdom on Personal Investing from Financial Engines -- The Intelligent Portfolio is an easy-to-read guide to intelligent personal investing drawing upon the insights of Financial Engines (FE)—a leading independent investment advisor founded by Nobel Prize-winning economist William F. Sharpe that makes advice available to millions of retirement plan investors at America’s largest companies. In this book, FE Chief Investment Officer Christopher Jones uses state-of-the-art simulation and optimization methods to demonstrate the often-surprising results of applying modern financial economics to personal investment decisions.

By illustrating the realistic range of possible investment outcomes, Jones reveals how today’s decisions impact future results and helps investors maximize their chances of reaching goals. Challenging conventional wisdom that often leads novice and experienced investors astray, The Intelligent Portfolio discloses the most important factors for investment success using insights familiar to large pension funds, foundations, and endowments, but often mysterious to individual investors.

Specifically, readers will discover how to: avoid common investing mistakes; prioritize the most important factors to simplify decisions; understand the tradeoffs that underlie investment choices; build high performing portfolios; critically evaluate the investment advice they receive; and much more. In addition to the information outlined throughout these pages, readers may also become a user of the online advisory service at FinancialEngines.com for one year, so that they may apply what they’ve learned to their own personal investment portfolios.

This is on the "skim" list for me. Sounds interesting enough for me to browse through it and see if it's worth the time investment to read.

Sound Health, Sound Wealth -- Sound Health, Sound Wealth is a ground-breaking amalgamation of the fields of science, spirituality, and health. This profound and inspiring read synthesizes the author's client stories, personal experiences, and key concepts from her decades of medical, scientific, and spiritual research into a major breakthrough. In addition to discovering how to create biochemical and cellular changes that support the physical manifestation of Your Heart s Most Treasured Desires, you'll have abundant resources to effortlessly attract the fulfillment you seek. For example, Dr. Oakes offers simple ways to:

• Send the Universe an "en-mail" (energetic email) so it can deliver exactly what you want and need.
• Stop energy leaks so you will feel more energetic, enthusiastic, and passionate.
• Develop an inner knowing and total certainty that you are attracting and creating all that you need and desire, including money.
• Transform time so it becomes your ally rather than your antagonist.

Uh, I think I'd pass on this one. It's a bit too "out there" for me.

A New Must-Have Money Book?

I've already listed what I think are the best financial books of all time, but there may be a new one to add to the list. I'm just starting 50 Prosperity Classics: Attract It, Create It, Manage It, Share It (50 Classics), but I've skimmed the whole thing and it's fabulous!

Here's a quick summary of what the book is about:

50 Prosperity Classics: Attract It, Create It, Manage It, Share It (50 Classics) is 50 short chapters on how to attract, create, manage, and share money from 50 of the best-known financial experts/writers of all time. It includes pieces written by David Bach, John Bogle, Warren Buffett, Peter Lynch, Dave Ramsey, Suze Orman, Peter Drucker, Guy Kawasaki and more -- a real who's who in the financial world. Each chapter is 4-6 pages and includes key quotes, a summary of the article, and a list of like-minded books you can read if you want more information.

Here's what I like about it:

• Great authors.
• Each author writes about his/her strengths -- lots of wisdom here.
• The chapters are short. I don't have time to read 50 great books, but I can get wonderful nuggets of information from 50 great books in 10-minute bursts.
• The summaries. Just reading these 50 statements are worth the price of the book.

No, I'm not being paid for this review and no I don't have any sort of financial interest in it -- other than applying the principles it covers will likely help me grow my net worth. I'll be sharing more on this book over the next few weeks, so stay tuned for some great financial wisdom. I know we'll all learn something from it.

Personal Finance Books that Can Change Your Life

MSN Money lists their five personal finance books that can change your life. Here are the books and a few comments from them:

• Gotcha Capitalism: How Hidden Fees Rip You Off Every Day-and What You Can Do About It - If you buy one money book this year, this should be it. "Companies under pressure to keep advertised prices low have seized on trickery to pump profits up," Sullivan writes. The good news is that he also outlines ways to fight back while making a compelling case that American consumers have been left essentially unprotected for far too long.

• Get Satisfied: How Twenty People Like You Found the Satisfaction of Enough - If you think simple living means retreating to a hut on a mountainside, you're in for a pleasant surprise. The 20 people whose stories are included in "Get Satisfied" for the most part live in regular houses in urban or suburban neighborhoods across the country.

• Living Rich by Spending Smart: How to Get More of What You Really Want - I thought I knew just about every way to trim a budget, but Karp, who writes the "Spending Smart" column that runs in Tribune newspapers nationwide, presented some ideas and strategies I hadn't considered.

• It's Not About the Money: Unlock Your Money Type to Achieve Spiritual and Financial Abundance - The first chapter alone is worth the price of the book. Titled "You Will Never Have Enough," the chapter discusses the Buddhist tradition of the wanting mind: the reason we endlessly, and fruitlessly, pursue happiness through purchases.

• Your Complete Retirement Planning Road Map: A Comprehensive Action Plan for Securing IRAs, 401(k)s, and Other Retirement Plans for Yourself and Your Family - The book reproduces the questionnaires and checklists that Slott uses with his own clients to help manage a variety of retirement accounts. Slott pays particular attention to two essential issues often ignored or downplayed by other advisers: choosing beneficiaries and managing distributions.

My take on these:

1. I have read only one of these (#4), so I'm just going by MSN Money's description in making my judgments.

2. I think the first three sound interesting. I'll be tracking down the publishers to see if they'll send me a copy to review.

3. #4 was a waste of time for me. Too much "zen money" thoughts and not enough practical suggestions for me.

4. Number 5 seems like a yawner.

5. I'm not sure any of these are "life changers." Some may be good, but are they really that good? Here's my list of books that I think really can change people's lives for the better:

• The Millionaire Next Door - Whether or not you agree with the research in this book (some don't), the conclusions are valid. I've build my financial life and wealth on the principles in this book and it's worked very well for me. For more details on key thoughts from the book, see my category on the Millionaire Next Door.

• The Richest Man in Babylon - Good, basic, effective money principles. At $6.99, it's a steal for anyone concerned with managing their own personal finances. I also have a category devoted to this book.

• The Bogleheads' Guide to Investing - The best book on investing I've ever read.

• The Automatic Millionaire : A Powerful One-Step Plan to Live and Finish Rich - Simple, effective strategies for making yourself wealthy.

• Career Intensity: Business Strategy for Workplace Warriors and Entrepreneurs - Probably the best book I've ever read on managing your career. It's more for professionals, but if the principles are taken to heart, I think anyone can learn how to best manage their greatest financial asset by reading this book.

To me, this list of books can REALLY change lives. How can I say this? They've changed my life -- for the better. For the much, much better.

How about you? What books would you add to this list?

My Take on Robert Kiyosaki and His New Book

Seems like everyone I know either loves or hates Robert Kiyosaki, the author of Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not! as well as entrepreneur and speaker. (He's kind of like Dave Ramsey in that way.) If I were guessing, I think more Free Money Finance readers dislike him than think he's useful. I believe that they dislike him because he often says some very off-the-wall things (at least in some readers' opinions), especially in his Yahoo Finance column.

My take on Kiyosaki is a bit more balanced than the usual love/hate opinion. Here are my thoughts on him and his new book:

1. Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not! was a good book in my opinion -- even if the rich dad and poor dad were made up (as some people say.) I read it several years ago and it was a key part of my early thinking on personal finances. That said, I don't agree 100% with the book (there are very few books I agree 100% with.)

2. I don't think I've read any of his books since the first one, so I can't really comment on them. No real reason for me to avoid them, it's just that they didn't look that different than the original when I looked at reviews.

3. You can't deny that Kiyosaki has been successful in business. From what I can tell, he's making a bundle of money selling books, seminars and the like. Of course making lots of money doesn't mean you know what you're talking about, but it does show that you're good at, well, making money.

4. Kiyosaki has written some bizarre thoughts in his Yahoo column. My thinking is that he does this just to cause controversy, stir the pot a bit, and distinguish himself from other personal finance advisors. Let's face it, the basics of personal finance are fairly simple, and many "experts" say the exact same things. I think Kiyosaki's "strangeness" is more of a marketing move to establish his brand as "different." I don't think he's crazy at all.

5. Much of what he says that appears strange is simply the way he says it. Often he says something that seems totally whacked out, then when he details what he means you can see that his "differences" are simply semantics. For instance, in Rich Dad's Increase Your Financial IQ: Get Smarter with Your Money, he says he hates the advice "spend less than you earn." Then he goes on to detail that you should work on earning more. And as he explains this it's clear that the differences between what he's saying and what the "spend less than you earn" people say is not that different.

6. Just like any financial "expert", Kiyosaki has some good points and some bad points. And just like with any of the others, you need to think for yourself when you read what he suggests.

7. I actually liked Rich Dad's Increase Your Financial IQ: Get Smarter with Your Money quite a bit and I'll be sharing several thoughts from it over the next few weeks. It was a surprise to me that I agreed with so much of it since I had assumed I wouldn't (based on many reactions to the Yahoo column.)

8. Rich Dad's Increase Your Financial IQ: Get Smarter with Your Money is pretty basic. I'd say it's for a financial newbie or for someone wanting a simple overview of basic personal finance principles. I liked it because it goes over the basics of money management in a different way that makes it worth reading. And as I've said several times, if you can just get the basics down, you'll do very well financially.

So those are my thoughts on Robert Kiyosaki and his new book. Stay tuned for more thoughts on Rich Dad's Increase Your Financial IQ: Get Smarter with Your Money and my take on them.

Reader Review: Digits from H&R Block

As some of you know, H&R Block is an advertiser here at Free Money Finance (see ad on right sidebar.)  Recently they sent me a press release about a new website they've developed and asked me for an honest opinion. Instead, I thought I'd post what they sent me and let you offer your thoughts. First, here's the release:

A tax season mainstay for 50 years, H&R Block has launched a new online community for 2008 to extend the tax office experience and connect customers online.

Dubbed Digits, the community serves as a hub where tax and financial discussions can live alongside conversations about politics, entertainment, the environment and other topics of interest. Using Web 2.0 tools, Digits not only links visitors with H&R Block’s tax and financial resources, but also invites visitors to join the conversation.

Digits has all you’ll likely need to know about taxes including timely articles, “Tax Tip of the Week”, Digits blog, widgets, podcasts, and an “Ask a Tax Advisor” feature with a link to access an H&R Block tax pro.

As we all know that’s there more to life than taxes, Digits also features tax season diversions such as:

• Truman Greene videos – As H&R Block’s #1 fan, Truman uses the Web to encourage tax filers to “Spread the Love” and “Spend the Refund” with his special brand of humor. You can also find Truman’s comic videos as at MySpace and YouTube.

• Second Life – Launched for tax season 2007, H&R Block’s virtual tax office in Second Life is open for business in 2008. Second Life membership is free and easy, and Digits has all you’ll need to create an avatar and get acquainted with H&R Block Island. Once there, join your friends, fellow customers and H&R Block tax pros at regularly scheduled “Ask a Tax Advisor Nights” with deejays and dancing.

In addition to the fun stuff, Digits also provides help and details on the hard stuff:

• 2008 Tax Rebate Plan – Congress’ recently approved economic stimulus plan means tax rebates for many tax paying Americans. Digits includes important information about rebates and how they affect you, qualifications to receive tax rebates, delivery and more.

• Tax preparation with Tango – Tango is online tax preparation with an attitude. As the home base for all things Tango, Digits shows visitors what the software can do for you via a Tango “In Plain English” video, testimonials and product Q&A. Easy-to-use and engaging, Tango sets itself apart by offering 24/7 access to live tax professionals, so you’ve got people all the way through the process.

Ok, have at it. What do you think of this site? Good stuff? Lame? A bit of each?

Post your thoughts in the comments below. I'll chime in once everyone has had their say (so I don't influence the comments.)

Sumo Omni: My Son's Dream Come True (And How You Can Win One)

This giveaway is now closed. Scroll to the bottom of the comments to see who won.

Before I start this review, let me say that this is NOT a paid review of any sort. I'm giving an open, honest evaluation of this product without any financial incentive. Though I'd be open to a financial incentive if anyone wanted to offer me one. ;-)

I'd seen that the people at Somo had been giving their products to many bloggers to try. So I contacted them and they sent me a free Sumo Omni to use and review. That was a couple weeks ago, the results are now in, and I can report that the item has been a HUGE hit in our house.

But before I get to that, let me describe what this is. (You can click the link above if you want to see for yourself -- they have pictures and even demos.) It's basically a large (4.5' x 5.5') bag filled with Sumo "beads." To me, it's a huge, upper end bean bag chair. It's made with rip-proof nylon, so no need to worry about breaking, and it comes in 10 different colors. Best of all, you can make it into almost any shape, so you can sit on it, recline on it, sit on it -- you name it.

I'd say that it works best in either a rec room or an entertainment room. We have it in our living room, which is a place that won't work for many people. But since our living room is such a hodge podge of furniture anyway, it's fine there. It would work in the living room of a younger person -- either single or couple -- that's designed in a bit trendier fashion.

Why has it been such a hit with us? Three words: kids...video...games. My son loves to use the Sumo Omni to relax and play his video games (I still have to use the chair.) We had thought about getting him one of those video game chairs for Christmas, but he likes the Sumo Omni better (we asked him -- he's used the other chairs at friends' houses.) It's also a hit with my daughter, but she doesn't get to use it nearly as much since my son is on it all the time.

The only "issue" with the item is the cost -- it's $129. I think you can look at this two ways. First, you can say "wow, that's a lot for a bean bag chair -- even an upper end one." Or you could compare it to other furniture you might buy in its place -- a video game chair, lounge chair, etc. The Sumo people have a "competitor's price" on their site of $229. I'm not sure how realistic that price is, but if it's even close, then $129 is a bargain.

But for you, dear Free Money Finance reader, you can get a Sumo Omni for FREE. Here's how:

1. Leave a comment below -- any comment.

2. Sometime later this week, I'll stop by the post, stop the submissions, and name the winner (picked at random).

3. It will be that person's responsibility to check back to see if they are a winner and then email me their contact information.

4. I'll send the winner's info to the Sumo people, and they'll send him/her a Sumo Omni.

A few rules for these giveaways:

1. I will be the complete and final judge.

2. Legal disclaimer: I can not guarantee safe delivery of the items. The Sumo people have been great to work with (they sent me my chair with no problem) and I'm sure all will be fine, but since I can't control the product being shipped and delivered, I won't be held accountable if there's a mess up.

3. If you win something and do not contact me within a week of winning, I reserve the right to give your prize away to another winner. Note again: I won't track down the winners -- it's your responsibility to come back and see if you won.

4. Local laws, rules, and regulations apply.

Good luck! Post a comment below for your chance to win!

Review: Blue Cash from American Express

Regular readers here at Free Money Finance will know what I think of the Blue Cash from American Express card as I've talked about it several times. But since I need to write a review as part of a blogging challenge hosted by ProBlogger and I'm feeling "positive" tonight, I wanted to review something I could give a good review. Hence my choice.

For those of you not familiar with the Blue Cash from American Express card, here are the details:

1. It's a cash back credit card. Cash back is my preferred method to receive credit card rewards since I can then spend the rewards in any way I like.

2. It rewards cash back based on the following levels of annual charges:

• For total annual purchases of $0 to $6,500, I earn 1% back on "everyday" purchases and 0.5% back on all other purchases.

• For total annual purchases of $6,500.01 to $50,000, I earn 5% back on "everyday" purchases and 1.5% back on all other purchases.

• Everyday purchases are purchases made at U.S. supermarkets, gas stations and drug stores that are not departments of superstores or warehouse clubs.

I've been a user of the card for three years or so now, and here's my take on it:

1. I LOVE it! It saved me almost $500 last year and it's on the way to saving me even more this year.

2. It's the best credit card for high chargers (and I am a high charger.)

3. When combined with the Chase Freedom Cash Visa Card, the Blue Cash card can help to earn you over 2.6% cash back. This is way, way, way ahead of the industry standard of 1% for cash back cards.

As such, I give the Blue Cash from American Express card the label of best cash back credit card. That said, I have applied for the Chase Freedom Cash Visa Card (which there's a $50 bonus on as of this writing) and plan on using the two of them together soon to get myself toward that 2.6% goal.

Review: Be Your Own House Contractor (Free Giveaway Too)

If you're thinking of building a house, buying a house, selling a house, adding on to a house, living in a house or doing anything house related, August is your month at Free Money Finance. Or, if you simply like FREE STUFF, August is your month too!

I'll get to the free stuff in a bit, but for now I want to talk to you about an absolutely great book. Be Your Own House Contractor is simply about what it says it's about -- how you can (and should) be your own house contractor.

Why? Because you can save a TON of money.

But you have no experience? Doesn't matter.

I first came in contact with this book when I checked it out from the public library (because we're looking at homes and may want to build our own place.) When I brought it home, my wife said something like, "Wow, you're really ambitious" or some sort of related "yeah, like you're going to do that" comment. I told her I just wanted to know more about the building process in case we decided to build a house.

But as I got into it, Be Your Own House Contractor convinced me that I could be my own contractor. And even if I didn't do everything the book said, I could do a lot of it quite easily and save a ton of money.

I was so taken with the book that I decided to contact the author. I went to his website and discovered he lived in the same city I do! I emailed him, he sent me his phone number, we talked, and we decided to bring you some great content and freebies related to Be Your Own House Contractor over the next month.

Here's what to expect:

1. I'll be posting every week day on the book -- giving just a snippet of it's wisdom and commenting on it. I'll do this after I run parts of an email interview I did with the author. Believe me, there will be lots of good stuff here!

2. In the same post, I'll be giving away a free copy of Be Your Own House Contractor to one lucky reader. Since there are 23 week days in August, that means I'll be giving away 23 copies of the book. Plenty of chances to win!

Let me conclude with the book review before I get to today's giveaway. I'm not going into detail on what the book says other than what I've said above -- you can save a ton of money building your own home if you become your own contractor. And no experience is necessary. Don't believe me? Stick around through August and see what you think then.

As you can tell, I love the book and I'm giving Be Your Own House Contractor 8 Stars.

And, for you cynics out there, let me say that I have NOT received any money for promoting this book -- I really do love it. I have received some free copies, but I'll be giving those away.

Now for today's giveaway. Here's how it will work:

1. Leave a comment below -- any comment.

2. Sometime tomorrow, I'll stop by the post, stop the submissions, and name the winner.

3. It will be that person's responsibility to check back to see they are a winner and then email me their contact information.

4. I'll send all the winners their books in one mass mailing going out the second week in September.

A few rules for these giveaways:

1. You can not win more than one prize.

2. I will be the complete and final judge.

3. Legal disclaimer: I can not guarantee safe delivery of the items. I'll send them via US Mail, so it's likely they'll be fine, but I can't control it and won't be held accountable if the mail system messes up.

4. If you win something and do not contact me within a week of winning, I reserve the right to give your prize away to another winner. Note again: I won't track down the winners -- it's your responsibility to come back and see if you won.

Good luck! Post a comment below for a chance to win this book!

Why I'm Letting My Subscription to Smart Money Magazine Expire

Last week I got a notice that if I didn't renew my subscription to Smart Money magazine soon, I'd start missing issues. I immediately made a note to renew the subscription (I've been getting it for years, after all), but after I thought about it, I decided to let it expire. Why? It basically boils down to the fact that it's not worth the time and money I spend on it. Here are the specifics:

• It has little value. The magazine is full of hype on "the next great investment" or, more accurately, the "8 stocks to keep forever." That's just for one issue, mind you. In the next issue, there will be a whole new set of stocks/funds that will make you a millionaire. This is the reason Smart Money consistently ranked third of the big three financial magazines in my rating reviews.

• The value it does have, I can get online. Ever heard of an RSS feed? Smart Money tells me everything it puts online (which includes most of its magazine), and I can select what I think is worth reading for free. Why do I need to get a hard copy when I can get it online for free?

• Time. It takes time to read a magazine -- even one that you're not that interested in. And I have precious little spare time, so when something has little value and I can get the value that does exist for free, I ax it off my list and create a bit more time for myself. yeah, it also takes time to read web articles, but I can pick what I want to see/read, so there is some overall savings.

What about you? Have you recently canceled a magazine subscription or let one expire? If so, why?

Review: The Real Guide to Making Millions Through Real Estate

Here's what I love about investing in real estate: it can be very profitable.

Here's what I don't love:

• You either need a ton of money that you can afford to tie up for a long time or be willing to take on a good amount of debt.

• Finding, buying, managing, and selling real estate can take up a good bit of time.

• If you don't do it right, you can lose a bundle very quickly.

Given the items above, I'm not a big real estate investor. I have a bit invested in a real estate LLC in addition to owning my own home (my biggest real estate investment), but that's about it. As such, I'm probably not the best person to offer my opinions of The Real Guide to Making Millions Through Real Estate: Start Your Portfolio With as Little as $3000. But they sent me a book, so here goes.

I'd place real estate books into two categories. First is the "you can get rich in no time at all and using other people's money" sort of book that's all hype and speculation but not really realistic for 99.9% of investors. Then there's the "here's a reasonable way to make money in real estate" -- a book that most people can read, understand, and apply. Despite the hype-y title, The Real Guide to Making Millions Through Real Estate: Start Your Portfolio With as Little as $3000 falls into the latter category, something I was extremely grateful for once I started reading the piece.

In short, the book is a beginner's guide to investing in real estate. It covers all the basics -- similar to, through not as elementary, as Real Estate for Dummies. If you know only a bit about real estate yet want to start finding, buying, managing, and selling property, this book lays out what you need to know and do.

That said, it's not a whole lot different than all the other books that deal with the basics of real estate. Sure, they each have some little twist, are written in a different style/voice, or have this or that particular way of doing the same thing, but in the end, they are 90% the same.

Therefore, I'm going to give two ratings for this book. If you're interested in real estate and want to know the basics, I'd give The Real Guide to Making Millions Through Real Estate: Start Your Portfolio With as Little as $3000 6 Stars. But if you're interested in all areas of personal finance and are interested in finding something to teach you something new and grow your knowledge base, I'd give the book 3 Stars.

The Worst Hype-Machines of the Personal Finance Magazines

In Why You Shouldn't Listen to the Financial Media (and What They Don't Want You to Know) I wrote about how the financial media constantly hypes what stocks, mutual funds, and other investments that people should buy -- and that by following their advice, investors can easily get off course from a simple, basic, effective investing strategy (and the good results that follow.) Just to illustrate, I saved the covers of the top three personal finance magazines for January and thought I'd do a little comparison of them for you, just so we could see which had the most hype. Here's what I found:

• Smart Money - The worst offender of them all. "Where to Invest 2007" was in big, bold letters that took up at least a quarter of the cover. The cover also featured "The year Ahead: 12 Stocks Ready to Rally" and "Wow! Our 2006 Picks Beat the Market by 54%," not to mention a red burst at the top proclaiming "Special Investment Issue." BTW, inside the magazine is no different. I was going to count all the stocks and mutual funds they touted as "buys," but I ran out of energy -- there were simply too many. What a hype-fest this magazine is/was.

• Kiplinger's Personal Finance - A bit better. They also had "Where to Invest 2007", but it was about the size of the "Where To" in the same wording on Smart Money. They also featured "The 8 Stocks to Buy Now" and "The World's 3 Best Funds," but these had much smaller type and were much more downplayed than what Smart Money offered. Inside, Kiplinger's still had a smattering of stock/investment recommendations, but not nearly as much as Smart Money.

• Money - The best of them all. There wasn't one stock-hype mentioned on the cover. Instead, Money offered "Top Money Resolutions for 2007" and "The 35 Most Outrageous Fees," stuff that could really help people. Inside the magazine is the same sort of stuff. I give them an A+!!!!

I guess it's no wonder that I found this and that Money trounced the other two. That's the same reason I had to discontinue comparing these three magazines -- Money was just so much better issue after issue.

Kiplinger's still offers a lot of good stuff too, but if I wasn't writing this blog, I'd probably cancel my subscription to Smart Money (but you expect me to be up on all this stuff, don't you?). It's not that Smart Money doesn't have some good stuff and that it's not worth the money, but it's not worth the TIME I have to put into reading it. I would do fine just by having the other two magazines and spending the time I read Smart Money doing something else (like watching my index fund grow.) ;-)

Review: 7 Prayers that Will Change Your Life Forever

Here's a review that doesn't have much to do with the topic of money, but it is a book I was asked to take a look at. And since I write on spiritual issues on Sundays, I thought today would be the day to review 7 Prayers That Will Change Your Life Forever.

I'll start by saying that the book is written by Stormie Omartian, the woman who has had a series of popular prayer-related books the past several years. This book is a bit different than those since it's a small (2/3 size of normal), hard cover, gift book of only 125 pages, that covers a wide range of prayers (versus prayer on a specific subject.) Other than that, Omartian's readers will certainly notice her voice in the book -- coupled with nice design and pictures (i.e. that's what makes it a "gift book.")

In case you're wondering, here's what the seven prayers are:

• The Prayer of Confession
• The Prayer of Salvation
• The Prayer of Release
• The Prayer of Submission
• The Prayer of Praise
• The Prayer of Promise
• The Prayer of Blessing

Here's what I liked about the book:

1. Very basic but also very meaningful truths about prayer written in a style that fits both new and old believers.

2. A very easy read. Short chapters that keep moving. It can be covered in an hour or so if you're in the right mood (though you'll need to meditate on it longer to get more out of it.)

3. Nice, attractive design with beautiful pictures and nice treatments of scripture throughout. And even the headings add "life" to the look.

Here's what I didn't like:

1. Price. At a suggested price of $14.99 (which is what Family Christian had it for at the time of this writing), it's a bit expensive. Fortunately, Amazon had it for $10.19, and I'd say that's a fair price.

2. In some cases it can be too basic for a mature believer and too complicated for a non-believer. Personally, I like books that cover "the basics," so this wasn't a problem for me. Others may think differently.

My rating for 7 Prayers That Will Change Your Life Forever based on my 0-10 star-rating system is: 6 Stars.

Review: Daddy Will You Dance with Me?

Here's another off-topic book review, but as I've stated in the past, if a publisher sends me a book I request, I feel an obligation to read it and comment on it. I guess the issue is I need to stop requesting off-topic books, huh? ;-)

Anyway, today's book review is on a book called Daddy, Will You Dance with Me? For those of you who remember the song Butterfly Kisses several years ago, you'll know what this book is about simply by thinking of the song. For those of you who don't, it's real simple: it's a syrupy "story" of a father/daughter relationship through their lifetimes and into the next generation.

Now that you know what it's about, here are a few thoughts I have on Daddy, Will You Dance with Me?:

1. It's a "gift book" which means it's hard-cover, small in size, light on text and heavy on pictures/graphical elements.

2. The book retails for $10.99.

3. Given #1 and #2 above as well as the content of the book, I'm not sure who would buy this or for what occasion. I'm sure there is one -- I just can't think of one. What I can think of is about a ba-zillion different ways to spend $10.99 that would be a better use of the money.

As such, my rating for Daddy, Will You Dance with Me? based on my 0-10 star-rating system is: 3 Stars.

Reviews: Life Lessons for Busy Moms and A Woman's Guide to Saving Her Own Life

I have a policy when it comes to book reviews: if a publisher takes the time to send me a free book that I've requested, I need to take time to review it -- even if it's not exactly on topic for Free Money Finance. Such is the case for the two books I'm reviewing today -- kind of, that is. While it's true that these books aren't on topic (unless you REALLY stretch what we're talking about here), it's not true that I'm reviewing them. But since they are books on women's issues, I asked Mrs. FMF to read and give her opinion on them (note: she's a much gentler, kinder grader than I am, so take these ratings with a grain of salt.) Her thoughts:

Life Lessons for Busy Moms: Essential Ingredients to Organize and Balance Your World (Chicken Soup for the Soul)

I would recommend this book.  The layout is easy to pick up and put down (I’m a busy Mom and often have little reading time).  The sections are clearly marked and the questions and summaries at the end of the sections nicely highlighted the contents.  The stories were real-life reminders of what other Mom’s are dealing with and I could relate to many of their examples.  I didn’t agree with all the advice, but overall, it was an enjoyable read. Rating: 7 Stars.

A Woman's Guide to Saving Her Own Life: The HEART Program for Health and Longevity

This was a helpful book for those at risk for heart disease.  Mellanie has certainly been through a lot and she has done her research in order to understand and explain her medical issues.  After reading her testimony and her busy workload, it’s no wonder she had a heart attack!

The layout was easy to follow with short chapters and helpful charts and forms.  The format was a little like a dissertation and I would’ve preferred larger print and perhaps less page margin for an easier read.  It was also a bit redundant if you were reading the whole thing through, but for picking up and reading parts at a time, it was okay. Rating: 6 Stars.

Review: The Maui Millionaires

Today I'm reviewing The Maui Millionaires: Discover the Secrets Behind the World's Most Exclusive Wealth Retreat and Become Financially Free, a book that promises you will "discover the secrets behind the world's most exclusive wealth retreat and become financially free." Yeah, right.

Anyway, the background for this book is that there's an annual event in Maui where people pay $30,000 (it's by-invitation only, so you can't guarantee yourself a spot just by forking over the money) to attend the Maui Mastermind -- which the book bills as "the most exclusive wealth retreat in the world."

In a nutshell, the book reminds me of Tony Robbins does personal finance. It's full of "think yourself rich" sort of advice that long on idealism but short on specifics, details, and practical application. Don't get me wrong, there is a bit of "do this" and "do that," but not much. Now I agree with the idea that your mind has a big impact on how your finances turn out, but this has to be coupled with practical application of solid financial principles, not pie-in-the-sky thoughts on "believing" and "not limiting your money thoughts."

Surely advocates of this book will accuse me of the wealth-limiting negativism that impacts many people. I prefer to think of it as critical thinking. Does this advice really seem to make sense? Has much of it been useful to me as I've developed my (good) net worth? Is it reasonable based on all I know about creating wealth? If I answer these questions, I can't really give the book a positive review.

In case you're interested in a bit more about the book, here's what the book bills as "a simple six-step plan to become a Maui millionaire." Judge for yourself if this is good advice or not:

• Step One: Upgrade Your Wealth Operating System
• Step Two: Uncover Your Big Dreams and Make Them Real
• Step Three: Form a Trial Mastermind Group for a 90-Day Test Run
• Step Four: Master the Concept of Level Three Wealth
• Step Five: Commit to Maui Giving
• Step Six: Connect with the Maui Wealth-Building Community

Look these over and decide for yourself how much valuable information is here.

My rating for The Maui Millionaires: Discover the Secrets Behind the World's Most Exclusive Wealth Retreat and Become Financially Free based on my 0-10 star rating system is: 3 Stars.

Review: Net Worth Workout

Finally! Thank God! I get a GOOD personal finance book to review. I thought I was never going to see one again. ;-)

But before I get into my thoughts on The Net Worth Workout: A Powerful Program for a Lifetime of Financial Fitness, let me tell you a bit about it.

Book Overview

Imagine comparing your financial fitness to your physical fitness, and using the analogy all the way through a book, and you have The Net Worth Workout: A Powerful Program for a Lifetime of Financial Fitness. I could give you more of an overview myself, but instead let's review what the book's PR materials say about it (it's just as good as what I'd say):

With The Net Worth Workout: A Powerful Program for a Lifetime of Financial Fitness, the financially unfit and confused can immediately get moving towards a secure future.  Financial fitness trainer Susan Feitelberg puts the nuts-and-bolts of wealth-building in terms anyone who’s ever joined a gym or gone on a diet can relate to.  Combining her experience as a competitive triathlete with her expertise as a financial advisor for JPMorgan Chase, Feitelberg applies the language and core principles of physical health and fitness to the winning moves of money management.  Best of all, her virtual “fitness regimen” for finances works—as thousands of men and women who’ve gained confidence, peace of mind, and prosperity from her seminars can attest.

In The Net Worth Workout: A Powerful Program for a Lifetime of Financial Fitness Feitelberg stresses, a winning mind-set is essential to success.  With the right attitude and a proven system, anyone can develop the discipline they need to build wealth.  “You can do this,” she tells every reader, regardless of his or her current financial condition.  Then, she shows how.

The Net Worth Workout: A Powerful Program for a Lifetime of Financial Fitness