Retro Recomendo: Money Stuff
Our subscriber base has grown so much since we first started nine years ago that most of you have missed all our earliest recommendations. The best of these are still valid and useful, so we’re trying out something new — Retro Recomendo. Once every 6 weeks, we’ll send out a throwback issue of evergreen recommendations focused on one theme from the past 10 years.
A home budget that makes sense to me (YNAB)
For years I’ve tried to keep a home budget, but it never seems to work. I end up spending more than I budgeted in some categories, less in others, and I don’t keep good track of what I’ve spent. When our Cool Tools podcast guest Lillian Karabaic recommended something called You Need a Budget (YNAB), I decided to give it a try. I’m glad I did. YNAB’s websites and mobile apps are excellent, as are the podcasts, videos, blog posts, and mailing lists they produce. It took me a while to wrap my head around the YNAB method, but now that I get it, I’m a true believer. For the first time in my adult life, I feel in control of my finances. — MF
High-leverage philanthropy
I’ve been making micro-loans to entrepreneurs in the developing world via Kiva for 10 years. I loan small amounts (less than $100) to, say, women in Africa hoping to buy a sewing machine to start their own sewing business, or herders in Bolivia needing some equipment to make cheese, and soon enough they will repay the loan so that I can re-loan the money again to someone else. I’ve gone through 4 cycles of loans for my first money, and there is less than 0.1% delinquency — a rate any bank would die for. 100% of my money goes to helping the individuals I select; Kiva’s operating costs are funded separately. The money keeps going around. It’s one of the best bargains in the world. — KK
Salary Transparent Street
Salary Transparent Street shares videos of people on the street being asked, “What do you do?” and “How much do you make?” It’s humbling and (mind-boggling!) to imagine how I would survive in the Bay Area on certain salaries across the U.S. The channel’s goal is to promote pay transparency across the United States, close the gender pay gap, and increase diversity and equal opportunities. You can follow it on Instagram, YouTube, or TikTok. — CD
Online notary service
Notarizing documents traditionally requires visiting a notary, but I’ve been utilizing online notary services for the past few years to avoid this hassle. All that’s needed is a laptop with a webcam. There are numerous online notaries available; my recent choice was Notarize.com, which charges $25 to notarize a single document. — MF
Equipping students
Few things in life are as satisfying as getting handwritten thank-you notes from school kids for helping them learn. DonorsChoose is a non-profit that features thousands of public school teachers seeking basic school supplies, or extra gear for special projects (rocket kits for science!). The teachers post their pitch. You choose a project. When it gets fully funded, they post verification pictures of the kids using the resource which your funds provided, and later they’ll send you a fistful of amazingly detailed (and endearing) letters from the students themselves. You’ll want to do this. — KK
Zelle payments
I use PayPal to send money to strangers (like on eBay or Etsy); I use Venmo to pay friends; but if I need to send a lot of money (more than several thousand $$$), I use Zelle. Unlike Venmo, which holds a reserve in your account that you replenish, Zelle is basically a bank-to-bank wire transfer – for free. But the interface is person-to-person. Still can’t do it internationally, but it is very handy for larger peer-to-peer payments in the U.S. Easy to set up. — KK
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