Multi-million Dollar Choices
1. Automobile – previous presentation—
http://www.edmunds.com/apps/cto/CTOintroController The True Cost to Own Calculator
allows you to type in any model (2003-2009), your zip code, and then the site tells you the
cash price AND the true cost to own calculation for the next five years, including fuel,
depreciation, financing, insurance, maintenance, and repairs.
2. http://www.fueleconomy.gov allows individuals to see how much it will cost to fuel their
vehicle per year.
3. http://www.kbb.com/kbb/PerfectCarFinder/Default.aspx has a tool known as the ‘Perfect Car
Finder.’ This allows you to specify virtually anything about your car of choice, and then
provides you with an analysis of which car will best fit your needs.
Savings potential – $200
‘Point-of-Choice’ Value – _____________________
2
Health Care –
1. http://www.hsacenter.com/HSA-Calculate-Future-Savings.php provides a great HSA
savings calculator that helps show you how much you could save by using a Health
Savings Account.
2. http://www.drugdigest.org/DD/GenericChecker/SearchBrand/1,22254,,00.html
provides a tool that allows individuals to click on the name of their medication, and
then shows them information about whether generic equivalents exist, thereby
providing potential cost savings.
3. http://www.medgle.com/ provides a sort of online doctor (for informational purposes
only) that can help give you a good idea of what is wrong with you before you go to
the doctor.
Savings potential: 30% of $1,300 per month
‘Point-of-Choice’ Value – _____________________
3
Food
2. www.thegrocerygame.com
This site allows you to create a free
account and brings together sales prices
for stores in your area in one convenient
place. The site helps you build a shopping
list from the items you identify as being
things you frequently purchase at the
store.
The Grocery Game is a fun interactive site
(you do have to pay a small subscribtion
fee) that helps you bring together
coupons from many sources to help you
get the most from your shopping. A four
week trial subscription is available for
only one dollar.
3. http://www.utahcityguide.com/new/guru/index.asp
This site is the site of the Grocery Guru.
He tells you the coupons available, and
provides a cheap menu, all in one
convenient spot. He is based in Salt Lake
City, so this is a Utah-specific service.
1. www.mygrocerydeals.com,
Eating out – MSN Money – an individual who eats out for lunch 5 times
a week will spend about $2,340 a year
Savings potential – family of six – average food expense $40 per week
per person
$908 per month * 30% = $300 per month
4
Home purchasing formula –
Savings= $200 per month
5
Insurance –
life insurance - convert cash value life insurance to
term insurance / shop term insurance
www.term4life.com / complete a preliminary
underwriting
1. http://www.consumerreports.org/cro/money/insurance/life/life-insurance-10-06/cut-your-
premium-by-reducing-your-risks/0610_cut_your_premiums.htm provides a chart that estimates
your lifetime savings from making certain adjustments to your health that move you into a new
health risk class for insurance purposes. We could add this to our Wealth of Great Health
lecture, RESIRV lecture, and POC lecture.
Drop ‘limited policies’ - accidental death and
dismemberment, credit life insurance, travel insurance,
credit disability insurance
Health insurance and life insurance / prepare for
your examination
1. http://www.accuquote.com/exam.cfm
2. http://www.wikihow.com/Prepare-for-a-Health-Insurance-Physical
Home-owners / Automobile – show the Utah web
site to see the differences in rates
http://www.insurance.utah.gov/2007%20Comparison%20Table.pdf
6
Business Valuation
7
expense tracking – www.mint.com
8
debt payments –
penalty fees on loans and credit cards
1. Describes the proposed
'Unfair and Deceptive
Credit Card and
Overdraft rules.' This
regulation seeks to
attack predatory
lending practices.
http://www.consumersunion.org/pdf/CreditCardReformShortSummary.pdf
www.bankrate.com – use credit unions whenever possible.
Penalty fees
mortgage redemption insurance- PMI
1. http://www.finance.cch.com/sohoApplets/MortgageRefinance.asp provides a
refinancing calculator that takes into effect many items, including PMI.
9
tax refund—Websites with tax strategies! Personal Income
Tax Deduction ideas and business owners as well. Deductions and
expenses.
IRS Withholding Calculator –
http://www.irs.gov/individuals/article/0,,id=96196,00.html
1. Describes McCain's and
Obama's tax policies.
http://www.taxpolicycenter.org/taxtopics/election_issues_matrix.cfm
Personal Taxes:
1. http://www.finance.cch.com/text/c60s10d003.asp -- a great introduction to most of
the fundamental parts of federal taxation.
2. http://www.taxsites.com/topics.html is an incredible tax sites directory for both
personal and business taxes. This allows you to find the publications and sites you
need.
3. http://taxtopics.net/topic4.htm#community is another incredible directory of
information.
Business Taxes:
1. http://www.finance.cch.com/text/c60s15d002.asp
2. http://www.inc.com/guides/legal/20687.html is a site specifically for business
owners.
3. http://www.smbiz.com/ is a tax site specifically a for small business owner that is
updated daily.
4. http://www.irs.gov/businesses/small/article/0,,id=99839,00.html an index of
business tax credits.
10
great work opportunities for teens—
1. http://www.sba.gov/teens/
2.
Is your teen interested in
starting their own business? This
site has everything they need to
succeed, including good ideas
for a businesses, information
about writing a business plan,
staying out of legal trouble, and
much more.
http://people.rit.edu/gtfsbi/Symp/highschool.htm provides a large listing of
internship possibilities
3. http://www.cogito.org/Programs/programslist.aspx?internships is a neat listing of
internships generously furnished by Johns Hopkins Center for Talented Youth. This is
a perfect resource for those seeking a career in medicine. The listing explains which
grades are eligible for internships.
11
great education opportunities for teens and young adults
1. -http://www.utahmentor.org/FinAid/Scholarship_Search/ Utah Mentor
is Utah's premier site for career, college and financial aid planning. Use the Scholarship Wizard
to search for scholarships.
2. https://studentaid2.ed.gov/getmoney/scholarship/scholarship_search_select.asp?13817/ is the
US Department of Education’s Scholarship and Financial Aid Wizard.
3. http://www.mymoney.gov/education.shtml is the US government portal site for scholarship and
financial aid information.
12
saving investment fees -
1. http://www.freeerisa.com/default.asp - Allows you to search for free fee data for 401(k) plans.
You are required to register, but registration data is free. This is a great way to get information
about the fees, some hidden, that your 401(k) plan is charging you.
2. http://apps.finra.org/Investor_Information/EA/1/mfetf.aspx
Mutual
Fund
Expense
Analyzer
provided
by
FINRA
13
accelerated debt reduction—
www.powerpay.org
14
FICO score management—
1. http://www.myfico.com/myfico/creditcentral/LoanRates.asp is the new calculator we
found yesterday that shows the savings from having a good FICO score.
2. http://www.pueblo.gsa.gov/cic_text/money/creditscores/your.htm is a government
publication explaining how important credit scores actually are.
3. http://www.allbusiness.com/personal-finance/3878826-1.html explains why FICO
scores are important.
4. http://www.com.ohio.gov/savethedream/docs/BuildingorRebuildingYourCredit.pdf is
an Ohio state government publication on why credit scores are so important.