Think you can't save for the short-term or long-term? Baloney. Think you could set aside the equivalent of a couple of lattes (or a couple of pints of microbrew, or a few gallons of PBR), once every 2 weeks? If this guy could do it, so can you.
Link: Vanguard − Saving for retirement: One investor's success story.
"He started small, contributing 1% of his salary. "$15 every two weeks," he recalled."
This is a tough one. I've never been of the belief that money is evil. Or that it's good. To me, money is a tool. Assigning value to it is like making moral judgments on a hammer — it's just a tool. It is only what you do with that tool, that may deserve or merit a value judgment. But many don't see it that way (Eugene's full of folks who don't see it that way), and I found myself nodding a great deal while reading this post:
Link: Language of the Perpetual Poor | Frugal Dad.
"Do you know someone who is “perpetual poor?” You know the type - constantly complaining, poor-mouthing, griping about the price of everything and jealous of everything others have. I think we all know at least one or two of those types. I’ve had the displeasure of knowing many, and over time I have heard my share of sob stories related to their personal finances. I recognize that some people are generally down on their luck, or going through a rough patch. Maybe they have faced a debilitating illness, or a job layoff, or some other tragic event that has derailed them from leading successful, productive lives. Those are not the people I am referring to when I attach the label 'perpetual poor.'”
Jodie and I try to be pretty conscientious of our power usage. We subscribe 100% to Greenpower program from our local utility, EWEB, for example, powering our house with wind and solar. We're good about unplugging or power-stripping "energy vampires" to cut down on wasted power, and therefore wasted money. And now, if we want to see if there are other areas where we need to trim power consumption, we can check out a watt gauge from the library:
Link: Kill A Watt gauges available at Eugene library: The Register-Guard, Eugene, Ore..
"A device that measures the amount of electricity used by computers, flat-screen televisions, lamps, recharging iPods and other electronic devices in homes and businesses is available for checkout at the Eugene Public Library"
I'm a frugal man, though I suppose that could just be a euphemistic way to say "tight-arsed cheapskate". In any case, I have always chalked up my sense of frugality, at least in part, to being a Capricorn. I like saving money, but when I do spend money, I spend it well.
We Capricorns have a nose for bargains — an instinct. Mine is very quiet, unless it's needed. It comes when it's called — but it also comes when it knows should be called.
This evening I had to run a couple of errands, and the moment I set out, my saver sense began tingling. "Go to Goodwill," it said. At first I questioned it; I had no need to run to Goodwill. I wanted to run my errands, get back home, drink coffee, blog, and check email. "No," my saver sense insisted, "Go to feckin' Goodwill."
So I did — it was on the way, so it wasn't a big deal.
And I'm glad I did. For ages now, Jodie's been on the lookout for a second-hand crockpot that she can use for dyeing yarn. She needs a fairly big crockpot, one of the 5- or 6-quart sizes. And at Goodwill, by listening to my saver sense, I found her a big crockpot... for $6.
As I type this, she's off knitting with the girls. And her new, bargain-scored crockpot is sitting on the dining room table, complete with a wee red bow.
I can't wait for her to get home. She'll be so happy. Being a Capricorn rocks.
Do you fill up with bioethanol (E85 only, thanks Chris in the comments for that clarification!) or biodiesel? Do you heat your home with pellets, firewood or B20 heating oil? If so, and you're an Oregon resident, you're getting a tax break on your 2007 state taxes.
I'm not a lawyer, accountant or anything even remotely resembling a tax or legal expert. But, I am a schmoe doing my taxes, and I've found the 744 Oregon Biofuel Consumer Tax Credit will save folks like me a few bucks off their taxes, effective with tax year 2007. The program looks like it's expanding in 2008, to include firewood and tax credit incentives for woodburners to upgrade to more efficient stoves:
The Biofuel consumer - Oregon.gov link contains info on who qualifies and how to claim the credit.
I could end this by saying "many happy returns," but I just won't. I'll just note that if you have any questions, talk to a tax professional, and good luck on your taxes.
Ah, 2007 — another year when everyone suddenly wants out of the stock market. Panic! We're losing everything! Or are we? The past may not predict the future, but hey, at some point, the past was the future, so it's worth taking a look at. This post, using graphs to illustrate market ups and downs over the last 11-ish years, is one more reason why I'm not bailing out of anything, anytime soon:
Link: A Visual History of the Stock Market From 1996 - 2007 : Generation X Finance.
"With the current volatility in the market, it causes people to begin questioning their investments and wondering where we’re headed. In my profession, I have to work with uneasy clients daily, and it can be difficult to remind them that the stock market is constantly moving and generally goes through cycles."
As much of a fan as I am of personal finance blogs, my eyes glaze over when people harp on paying with cash only. Having a good credit card — no annual fee, low interest rate, automated payments and some healthy rewards — makes my financial life much easier.
Dumb Little Man breaks down that if you're going to have a credit card, it's all about getting good rewards.
One card he doesn't mention is US Bank's REI Visa. You get rebates for all purchases, plus extra dividend with your REI membership. The plus about REI's annual dividends? You can choose how you use them — as credit towards purchases, or you can have them cut you a check.
Don't want telemarketing calls? Sick of 10 credit card offers showing up in the mail every day? Don't want to receive anymore catalogs you didn't want in the first place? Here are the silver bullets for getting yourself removed from all these:
Tonight I've been undertaking something that most would not consider fun. I've been reorganizing some financial files and statements and receipts and what-not. In hardly any time, my files have gone from disorganized, bulging and overflowing, to where I can find any scrap of paper needed. Here's how:
From there, it's pretty simple. It's the month of October. So every receipt I get when spending money this month, pfhoom, will go into one of the envelopes. Statement arrives in the mail? Pfhoom, into the folder.
Then, on the 1st and 15th of each month, I'll go through and do any management needed. This is already making a big difference in how I feel about our family finances. They feel kind of, well, fun.
Few things are better than simple and obvious. For ages I've tried to keep my financial documents organized with lots of paper clips and bulging manila folders, but Russell, with 3-ring binder and a hole punch, is on to something that makes a lot more sense (btw, found this via one of the many awesome personal finance blogs out there, but lost the bloody bookmark. if you know which it is, please leave it in comments):
Link: How I Organize My Bank Statements � How To, Finance � Russell Heimlich.
The only tools my method requires is a 3-ring binder, a hole puncher, and a stapler. Whenever I use my credit card or withdraw money from the ATM I keep the receipt so I can archive it later
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