» Posted by Martin Weil on June 29, 2007

Most people expect they can work or invest their way to wealth. Most (New Englanders excepted) don't realize they can also save their way there. So with the goal of helping people become better, smarter, stewards of their financial lives, I am introducing a new Money Saver subset under the Personal Finance topic.

From FreeMoneyFinance comes the recommendation to install a "whole house" fan, one of those large devices that suck air through the entire home and out through the attic. The cooling cost of running the fan is 10% of AC. And from personal experience living in an area where 100 degree days are not uncommon, they are a great adjunct, if not a replacement, to air conditioning.

» Posted by Martin Weil on June 25, 2007

One of two very tough parental assignments. Here is a list of recommended books from Litman Gregory Asset Management
Raising Financially Fit Kids
Silver Spoon Kids
Children of Paradise
Kids, Money and Values
What Kids Really Want That Money Can't Buy

A list of recommended websites is after the jump below.

» Posted by Martin Weil on June 13, 2007

Looking for a last minute Father's Day gift idea?

» Posted by Martin Weil on June 13, 2007

The Times(UK) has the list.

» Posted by Martin Weil on June 11, 2007

Well, we already knew that. But did you know New Hampshire's was the same size as that of Bangladesh? This map of the 50 US States renames them all as the nation with an equivalent GDP.

» Posted by Martin Weil on June 08, 2007

Perhaps this should be filed in the "be careful what you wish for" category.

"Declining MEW [home mortgage equity withdrawals] is one of the reasons I forecast the trade deficit to decline in '07. And a declining trade deficit also has possible implications for U.S. interest rates; as the trade deficit declines, rates may rise in the U.S. because foreign CBs [Central Banks] will have less to invest in the U.S.. This is why I forecast rates to rise in '07.

And rising rates have negative implications for housing and will probably lead to less MEW. This could lead to a vicious cycle for a short time - less MEW leading to a lower trade deficit, followed by rising rates, follow by less MEW, and repeat."

From the economics blog Calculated Risk

» Posted by Martin Weil on June 08, 2007

"The combined wages of 20 [skilled] workers here come to only $40,000 a year at the current exchange rate of 7.65 yuan to the dollar. That is in the range of annual base pay for one unionized auto parts worker in the United States and comparable to two nonunion American auto parts workers....

The company's wages of $170 a month remain respectable by the standards of this gritty refinery city of 800,000 in northeastern China. A small apartment without modern amenities like a refrigerator or air-conditioning rents for as little as $40 a month, while even a large meal at the restaurant of the city's best hotel costs less than $3.

Jobs at Wonder Auto are much sought after and turnover is almost zero, said Sun Shaohua, 30, who strips copper wires for alternators, the devices that take mechanical energy from the engine and turn it into electricity to recharge the battery.

"Many people come, but nobody ever leaves," he said."

from today's NY Times (registration required)