Weekly Review – 4/24 to 4/30

There is a lot going on in the world today, after reading 100’s of blog posts across the personal financial blog-o-sphere; here is what we found interesting this week:

Living Richly – Spending money where it matters, enjoying living below your means

Frugal Tips – Saving money, great deals and more

  • Paying ATM fees is for suckers – If you pay $5 in fees to take out $100 you are being “taxed” 5% by the bank.  That is probably 10X the return you earn on the money in your savings account.  Get Rich Slowly has an article on Five Ways to Outwit the ATM.Here are our quick tips:
    • Use an ATM by your bank to avoid fees
    • Get a bank that reimburses you for other bank ATM fees
    • If you must pay a fee, take out as much as is reasonable.  $5 on $100 is 5%, but $5 on $500 is only 1% – you just cut your “tax” by 80%.

Economics / Investing – What’s coming next

  • Silver and Gold continue to be unstoppable – After a small correction, silver and gold are higher on the week.  Silver is up on the week another $1 or so to close Friday at $48.60 and gold closed at a new all time high of $1564.10.
  • Dollar testing long(er) term lows – Again, it was only last week that we mentioned the dollar was testing multi-year lows and this week (thanks to Ben and The Fed) it broke through those lows and is now at 73.03 after going as low as 72.8.
  • Things that make you go hmmmMcDonald’s Hires 62k people (yea) but turns away over 938k other applicants! These are all people who were applying for part-time, minimum wage work.  If this is what a recovery looks like, we are scared to see a depression.
  • Downgrades – Just last week, S&P put the US Government’s credit rating of AAA on negative watch, this week its Japan’s turn.

Other stuff…

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