The Drunken Santa Clause cure

This one has killed me one more then one occasion.

You are out and about, and next thing you know the entire bar is enjoying drinks on you. We have all been through it. Of course you are trying to be nice, and buying a few drinks when you are out is not a problem. However, when you get real loose and really turn up the volume, you could be into some trouble. Your card is behind the bar so it's like playing with Monopoly money $$$.

Here is my cure: Do NOT take your credit cards out!

Either pay in cash or throw your debit card behind the bar. Credit cards and bars are like superman and kryptonite, Batman and Joker, Fire and Water, Hot and Cold !!!

They don't mix well.

With cash and debit cards you are taking the hit in actual cash, not fake credit card monopoly money.

Cheers!

The Kindle - a solid opportunity for savings

I recently bought the new 3G Kindle and have only rave reviews. The device is slim, light, and easy to handle. Furthermore, the 3G capability allows me to download books anywhere.

In regards to saving, it also helps the wallet. I understand that many people to enjoy the feeling of a book, however the monetary savings and added space in my bag is something I can not resist.

Kindle Cost: Roughly $190
Average E - book cost: $12 (many are much less)

Average print book cost: Depends. Hardcovers can run you up to $20, paperbacks on average $15

I read about 50 books a year - Difference in cost per book about  $4

I make my money back in one year -$200 SAVINGS

Show me an investment where you can get 100% in a year and I will show you an investor.

Think of personal finance as a investment game. With what you are saving per year, what is that on your initial cost. Are you purchasing something that will end up a liability or is it an assest

In my book (pun intended), the Kindle speaks for itself.

AMAZON KINDLE

Coffee please - make it at home !

Simple Monday tip:

Make your coffee at home or in the office. You can buy good coffee for a great price at your local market and fit it into you allotted monthly budget.

That money you were spending everyday can now be used for other things!

$2 a day X 5 = $10 a week = $40 a month = $480 a year

GET AHEAD!

Stop drinking Pepsi and Coke and start drinking Soda - start saving money !!!!!!!

So you love you Pepsi, Coke bla bla bla.

Here are the stats:

1 liter of Pepsi - 400 Calories
1 liter of flavored club soda - 0 Calories

1 liter of Pepsi - $1.25 if not more
1 liter of flavored club soda - $0.50 cents

Club soda gives you that carbonation taste and feel.!
The flavors are great!
It is healthy !

YOU SAVE MONEY !!!

http://tipnut.com/how-to-beat-the-soda-pop-addiction/

Books I am reading now and have read

As time move on I will let you all know what personal finance books I am reading or have read.

Here we go:

Just two to start off. There are more, but I want to keep all posts short and sweet

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Rich dad, poor dad: what the rich teach their kids about money-- that the poor and middle class do not!  - Robert T. Kiyosaki

http://www.amazon.com/Rich-Dad-Poor-Money-That-Middle/dp/0446677450

 

The Millionaire Mind - Thomas J. Stanley

http://www.amazon.com/Millionaire-Mind-Thomas-J-Stanley/dp/0740703579

Checking Accounts - More the merrier

Sorry it has been a few days since my last post. I will work on getting one out everyday.

So this is a controversial idea, but one I subscribe to. Having 2 CHECKING ACCOUNTS.

I use one checking account for all of my bills. This checking account is linked to all of my bills and that money is solely used for bills.

My second checking account is used for my spending money. Money for food, drink, dinners, shopping, etc.

I do this because I enjoy knowing how much I can spend everyday and what I have left over each month that I can use to invest or put away for a rainy day. When my spending checking account is low, I know I need to slow down. This also allows me to put away money each month for my savings, 401k, Roth, etc as it is in my bills checking account.

I use TD Commerce here in NY. I can have two checking accounts and do not get charged for it. I have 2 debit cards as well for each account to use as I need.

As with all my posts, I will continue to keep these tips simple and easy !
Try it out !

Happy Friday !!

What's your money maker ?

Do not be scared of the stock market - Personal Finance

Recently I opened up an account with http://www.scottrade.com/ .

I had won $800 in my fantasy football league and did not want to just waste the money on myself. Rather I thought AHEAD!

Scottrade is great because you only need to deposit $500 to begin trading. They also offer advice and a "how to" section.  I did that and invested in some microcap stocks I had been researching.

I am currently up 25% in less then 2 weeks.

Yes it is a risk, however it is a good way to get your feet wet. The biggest point is to use $500 that you can lose. Learn with it, that knowledge will be worth way more then $500 in the long run!!

Good Luck !

Cut over $400 on your cable bill - Personal Finance Savings

Check this video out and start saving. Sorry about the audio!

Let the sun shine shine ! Use the sun to save you $$$

Keeping on the home savings tips, here is another tip to keep that heating bill lower.

Simple: Let the sun shine in

By opening your blinds and allowing sunshine into your living areas you are using the light to make your house warmer. When the sun is not shining, close those drapes to minimize heat loss.

South and West facing windows allow the most sun exposure.

There are no quick fixes to lower your costs overnight, rather let these little things add up and save you money!!

Hot Water Heaters - Savings $$

I myself love a nice hot shower. However over long winters in NY, I have noticed my gas bill skyrocket. I decided to do a little experiment.

I turned my thermostat on my hot water heater from VERY HOT to HOT.
The actual change in water temperature was 140 F to 120 F.

My next few showers, noticed no change. The 20 F made no noticeable difference and the gas was not running as much keeping the water at a scalding 140 F.

-Going from 140 F to 120 F -> Slows the corrosion of pipes. Water heater lasts longer = Savings
-Going from 140 F to 120 F -> Gas is not pumping all the time keeping the temperature up = Savings

The following pictures show the change I made in temperature and insulated water pipes (keeps water warmer traveling to shower = less gas, savings

Are you afraid of the dark??? - LIGHT BULBS

Still one of my favorite old school TV shows. No this post is not about how cool it was when they threw the sand over the fire at the end.

Rather we are talking about a way you can start saving money instantly!

The type of light bulb you use can start putting money back into your pocket instantly.

Currently CFL's are your best bet. You can purchase them in any hardware store and put them to use.

Here is the breakdown of savings:

CFL's cost more the you regular bulbs, roughly $2 more a bulb.

However they last 4-7 years. That's close to 9 times longer then your regular bulb!!

Hence, the real cost of the CFL is 50% less then your average bulb.

Your saving already, but we are not done.

CFL bulbs emit more light and use 25% less electricity then regular bulbs.

Simple savings wrap up:

-CFL's cost less in the long run
-CFL's use less electricity
-You are also generating less trash

It makes sense, so do it

Where was that elective???

What surprises me everyday is the lack of knowledge both high school and college students have about personal finance. Furthermore the lack of people in their twenties who have a solid grip on finance, budgeting, etc.

As of now I will be posting on both personal finance and home ownership. Focusing on ways to save money in these arenas.

My goal is to keep it simple and straightforward. Each day at least one tip or idea.

So class is in session, WE ARE ALL the students AND the teachers!

Let's get ahead...