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 !
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Friday, January 14, 2011
Cut over $400 on your cable bill - Personal Finance Savings
Check this video out and start saving. Sorry about the audio!
Thursday, January 13, 2011
Let the sun shine shine ! Use the sun to save you $$$
Keeping on the home savings tips, here is another tip to keep that heating bill lower.
Simple: Let the sun shine in
By opening your blinds and allowing sunshine into your living areas you are using the light to make your house warmer. When the sun is not shining, close those drapes to minimize heat loss.
South and West facing windows allow the most sun exposure.
There are no quick fixes to lower your costs overnight, rather let these little things add up and save you money!!
Simple: Let the sun shine in
By opening your blinds and allowing sunshine into your living areas you are using the light to make your house warmer. When the sun is not shining, close those drapes to minimize heat loss.
South and West facing windows allow the most sun exposure.
Wednesday, January 12, 2011
Hot Water Heaters - Savings $$
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
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
Tuesday, January 11, 2011
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
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...
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