Senin, 30 November 2009

12/1 Free Money Finance

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Did You Shop This Past Weekend?
November 30, 2009 at 4:45 pm

Here's a question for you:

Did you shop this past weekend (including last Friday -- AKA Black Friday)?

The past three days (the three days after Thanksgiving) are some of the wildest in retail stores each year. Believe me, I know. I used to work for a retailer and even though I worked at the home office, we were required to work one day between Thanksgiving and Christmas. As a result, I worked several Black Fridays. It was a zoo!!!!!!!

So here's my answer to the question above:

  • No, I did not shop in a retail store on the Friday after Thanksgiving. We had guests in, so I was otherwise preoccupied. But even if we didn't have them over, wild horses could not have dragged me to a store on that day. Why? Because crazy people (and lots of them) shop on Black Friday. No thanks.

  • I did shop online. I worked the day after Thanksgiving and spent a part of the day getting a few things online. No crowds at all. It was GREAT!!!!

  • I was in a few stores on Saturday (at off times) and traffic was light at best. Hmmmm.

My boss has an annual tradition of going out early (like being there at 4 am) to shop the day after Thanksgiving and he did even more this year (more on that in an upcoming post). Good for him. I wish there were more people like that actually, so they can get their shopping over and leave the stores open for the rest of us sane people to do our shopping later. :-)

How about you? Did you shop in stores or online any of the three days after Thanksgiving?



Best of Money Carnival Now Available
November 30, 2009 at 2:22 pm

Today's Best of Money Carnival is now up. Congrats to all participants and especially the winning post (which I had to name since the host didn't), Are You A Gambler Or Investor? (A Flow Chart) (though I wanted to name Five Steps to Six Figures in Seven Years the winner). ;-)

Enjoy!



Free $25 from LendingClub
November 30, 2009 at 2:21 pm

Those of you looking for some extra spending money can pick up $25 free from LendingClub for opening an account with them (which is free to do) as a new user. Here's how it works…

1. Visit Lending Club using this link.

2. Open and activate a lender account (which means you hit "invest" when selecting what you want to do with LC -- I'm not encouraging anyone to borrow money.)

3. The $25 will be automatically deposited in your account shortly thereafter.

It's that simple. 

A couple notes:

1. There are some eligibility requirements for opening a Lending Club account (must be 18, certain states excluded, etc.), but those should quickly become apparent when you click through.

2. The signup page won't say anything about the bonus, but they'll be able to track and credit you using the special link in this post.

Enjoy!



Help a Reader: Mom Moving
November 30, 2009 at 11:45 am

Here's an email I recently received from a reader:

My mom is retired and lives on the East Coast.  She still lives in the house that I grew up in and wants to put it up for sale this spring since it's too big for her to handle by herself (the house is fully paid, no mortgage).  I am currently in LA because of my job (yes, I know that the cost of living is ridiculous here).  My husband is applying to medical fellowship positions, so that means he won't have a permanent job for another couple of years.  Because of his job situation, we can't predict where exactly we're going to settle down in this spread out metropolitan area.  My mom wants to buy a condo near us (I am her only child), but I'm guessing that we would probably only be in this exact area for another 2.5 years, maybe.  My husband doesn't seem keen about staying in this exact area after he finishes his fellowship.  I would like my mom to live near us, since that's the reason she would move to the LA area in the first place, but she would like to just buy a place and stay there.  She doesn't want to buy and sell again.  She wants to buy property as a way to store the money from the sale of her current house (worth ~$500,000, I'm guessing).

She's concerned that if she just puts that money in CDs (in a couple of different banks for the sake of FDIC insurance) until my husband's job situation is settled that the money would lose value because of inflation.  I know that if you buy property, you should try to stay there at the least for 3 years, so I don't know if buying property and keeping it for a short-term is a good idea for her.  What would you recommend that my mom do with the money from the sale of her house for ~3 years?  After that time, my mom would buy a condo near where my husband and I are settled.  I would greatly appreciate any input.

Any suggestions for her?



Is Eliminating a Car (Or Two) Worth It?
November 30, 2009 at 5:29 am

This post from MSN Money got me to thinking. They quote the annual cost of owning a car as follows:

AAA says fuel, tires, maintenance, insurance, depreciation, license, registration, taxes and financing for a year really cost this much:

  • Small sedan, $7,086
  • Medium sedan, $9,108
  • Large sedan, $10,972
  • Minivan, $9,903
  • Four-wheel-drive SUV, $11,473

In this example, the author got rid of her one-and-only car. She's saving a lot of money and is feeling great (walking a lot.) But I've been wondering about a different scenario -- is it worth it to get rid of a second car in a family?

Almost every couple I know has at least two cars. One guy in my office even has five cars and only four people in his family (only three are driving age)! In America these days, many kids get cars as soon as they are old enough to get behind the wheel. We have cars, cars, cars everywhere!

I think this stems from the fact that we love our freedom -- and nothing says "freedom" like being able to go wherever you want whenever you want. And how can you do that unless you have a car? It's hard to be "wild and free" on a bus schedule.

Here's the breakdown of the pros and cons of owning a car IMO:

Pros

  • Freedom to go where you want when you want
  • Convenience (don't have to plan to manage one car or public transportation)

Cons

  • Costs
  • Convenience (in many bigger cities, having a car is a huge convenience hassle)

Now, can you make a compromise between having two (or more) cars and only having none? Is it worth it to move to one car?

Well, you and I would certainly save a ton doing this, but for me the convenience factor far outweighs the cost. As long as I can afford a second car (and I can -- we've paid cash for all the cars we've ever purchased including our second car), I'm going to have one. If it costs me $10k per year, it's worth it. I see this as one of the fruits (benefits) of hard work -- the ability to have a second car and make life much easier for me and my family.

When we were first married, I spent about a year taking the bus to work. We lived in Pittsburgh and our company had just moved from the Northside (a relatively easy place to drive to from where we lived) with company-designated parking to downtown (across the river) with very few parking options (and the ones that existed were expensive.) I wasn't at the level where the company paid for my parking, so if I wanted to park anywhere close to work, I had to foot the bill myself. So, I took the bus. It was a nightmare -- having to be on a set schedule, lacking any sort of flexibility, having to deal with delays, having to deal with the sort of people that ride the bus (I know, that can sound terrible, but if you've ever ridden the bus, you know what I mean.) Other than days when we had bad snow and hideous traffic, riding the bus was the worst. The absolute worst. (BTW, I tried the option of driving to the Northside and taking a shuttle over to downtown, but that combined the worst of both worlds -- still cost a good amount and involved all the issues that made riding a bus a problem.) Ultimately, I decided to pay for parking myself and park downtown. It was a big budget hit for me, but made my quality-of-life so much better.

On the other hand I'm guessing that people that live and work in cities like New York and Chicago, cities that have good public transportation options, can make it pretty easy without a car. In fact, this is one cost in favor of living in a big city (and there aren't many, as you know.) Sure, you'll have costs of cabs, subways, busses, etc. and have to put up with some inconvenience (plus a sorted cast of characters that also takes public transportation), but you'll still end up saving a ton and won't have to deal with the inconvenience of trying to drive and park a car in a hostile environment (which is what an ultra-urban setting is for many drivers.)

Not much of a real conclusion in this post, but I wanted to bring up the topic, ramble on it a bit with my thoughts, and hear what all of you think of the issue. Have at it!


 

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