Bright Blue's not really my style, neither is not having full control of my blog. So after having a brief flirtation with blogger, I've moved to:
http://www.keepingthereinstight.com/
Please update your links and I promise it's the only move I'll make.
Thanks!
Friday, January 25, 2008
I'll gladly take $600 dollars...
2008: $600
2042: $8214.08
The proposed economic stimulus package definitely makes me a winner. Any tax refunds / rebates received this year are going straight into the Roth IRA I will be opening soon. Once my check shows up, I'll take the value, divide it by the number of months remaining in 2008 and send that much extra into the Roth / month. The wonders of dollar cost averaging will help maximize my investments despite whatever the market decides to do.
At a conservative interest rate of 8%, my 'stimuli' will appreciate 1369%!
I know that I will be receiving at least another $250 back as a refund. By investing the stimulus and my refund, I should get the following numbers at a minimum:
2008: $850
2042: $11636.61
This is the same appreciation rate (give or take a few thousandths of a percentage) but will the extra $250 will yield an result in $3422.53 extra when I'm 59 1/2.
Compounding interest, how I love thee.
2042: $8214.08
The proposed economic stimulus package definitely makes me a winner. Any tax refunds / rebates received this year are going straight into the Roth IRA I will be opening soon. Once my check shows up, I'll take the value, divide it by the number of months remaining in 2008 and send that much extra into the Roth / month. The wonders of dollar cost averaging will help maximize my investments despite whatever the market decides to do.
At a conservative interest rate of 8%, my 'stimuli' will appreciate 1369%!
I know that I will be receiving at least another $250 back as a refund. By investing the stimulus and my refund, I should get the following numbers at a minimum:
2008: $850
2042: $11636.61
This is the same appreciation rate (give or take a few thousandths of a percentage) but will the extra $250 will yield an result in $3422.53 extra when I'm 59 1/2.
Compounding interest, how I love thee.
Wednesday, January 23, 2008
Why Must Google Screw with Me?
With the federal funds rate being slashed to 3.5%, I've been worried about the interest rate of my HSBC Online Savings dropping significantly. I know that I have zero control over the APY but every penny I earn counts. The blog world has been mumbling all day about ING's rate drop (now 3.65% APY), so I prepared myself for the worse.
A quick google of the phrase: "hbsc savings rate" returned a wonderful headline claiming HSBC had raised their rates. This made absolutely no sense but I was still overcome by exhilaration. Then the article finally loaded....
A few hours have passed and I have yet to recover from the soul crushing. Thanks Google!
Note: HSBC still shows a 4.25% APY.
A quick google of the phrase: "hbsc savings rate" returned a wonderful headline claiming HSBC had raised their rates. This made absolutely no sense but I was still overcome by exhilaration. Then the article finally loaded....
A few hours have passed and I have yet to recover from the soul crushing. Thanks Google!
Note: HSBC still shows a 4.25% APY.
Tuesday, January 22, 2008
CVS Deal: Cheap M&M's
In my line of work, M&M's are highly coveted vehicle for inquiry based learning. I dread lessons that call M&M's as I have to buy them with my own money. I recuperate some of the costs with tax deductions, but it still adds up to be a pricey expense.
Today's purchase was a different story! Thanks to my CVS Card (and a post from Fat Wallet), I paid a whopping total of $1.04 for 4 bags of 14 oz. M&M's. After I deduct this purchase on my 2008 taxes, it'll work out to be $0.78 for the four bags or 19.5 cents per 14 ounces!
The Process:
This will only work with any flavor of Cupid's Mix M&M's or the green bags of M&M's.
Since I was the only customer in the local CVS, I was able to buy / return / rebuy without any hassle. Your mileage with this may vary.
Today's purchase was a different story! Thanks to my CVS Card (and a post from Fat Wallet), I paid a whopping total of $1.04 for 4 bags of 14 oz. M&M's. After I deduct this purchase on my 2008 taxes, it'll work out to be $0.78 for the four bags or 19.5 cents per 14 ounces!
The Process:
- Buy 2 - 14 oz. bags of Cupid's Mix M&M's.
- Since these are Buy One, Get One Free with a CVS Card, it should be 3.52 before taxes.
- A coupon for $3.00 off your next bag of M&M's should ring up at the bottom of your receipt.
- Return the 2 bags of M&M's.
- Re-buy the 2 bags of M&M's using the CVS card and the $3.00 off coupon. This will give you yet another coupon!
- Repeat until you have as many M&M's as you want.
This will only work with any flavor of Cupid's Mix M&M's or the green bags of M&M's.
Since I was the only customer in the local CVS, I was able to buy / return / rebuy without any hassle. Your mileage with this may vary.
Monday, January 21, 2008
Better Budget Challenge: Week #3
This week's Better Budget Challenge called for all of the participants to try and save money on our fixed bills. It's been a while since I had done this so I fired up my cellphone and prepared to spend my day off on hold.
Credit Cards
Shell Mastercard - This card had an APR of 19.99% which after 15 minutes on hold was lowered to 17.99%. This was as low as the CSR said he could go unless I was getting ready to cancel the card. Since I never carry a balance and didn't feel like going through the whole cancellation song and dance, I took the lowered rate and hung up the phone. I'd imagine that if I had threatened to cancel the rate would have be lowered.
American Express Blue Cash - My current APR was 14.25% and the CSR couldn't get it to go any lower; she did put a note in my file that I wanted to lower the APR. My cash advance APR was lowered to the same rate from 23.25% which is a significant drop. Again, I don't foresee myself using this feature but I wasn't about to turn down the lowered rate.
US Airways Mastercard - Current APR was 14.5% which cam bundled with my signup bonus of double miles for the first year. I detest this airline with the passion of my soul but since most of my paid-for travel sends me through Charlotte, I have a lot of miles already racked up. The only way to get my APR lowered was to lose the double miles bonus. After I spend another $2,500 on this card, I will have 3 roundtrips worth of miles and I plan on canceling the card immediately. I'll probably then open up an AMEX Starwood Card in its place.
Cellphone
I share a plan with my mother, brother, and sister-in-law. This works out to be about 30 bucks a month, well below anything I could get on my own. The $10 I spend for text messaging could be forgone in months of need but I do use this feature a lot.
Internet
I pay less than $50 dollars for Road Runner and the basic TV package (80 channels). The only better 'deal' would involve spending another $5 dollars a month for DVR. Since I watch most of my TV shows on the via the show's website, I declined this offer and kept my current rate.
Car Insurance
I was already sitting pretty with my rate of $24.50 / month so I didn't bother calling my agent. This rate is already dirt cheap for an under-25 year old male driver.
Magazines
All of my subscriptions are either a) gifts or b) Coke Rewards. No money to save here.
Gym Membership
I have access to free gym equipment at both my apartment and place of employment. Again, I don't pay for these services so I couldn't save any more money.
Bank Accounts
All of my savings are in an HSBC High-Yield Savings account which earns an APR of 4.25%. I've been very satisfied with the services I receive, and I wasn't going to move my small savings around for a small increase. I have a checking account with Bank of America as well as a savings account (I pay my bills out of this). Both of these accounts qualify for free services and since there's a BOA on every corner, I already have my money in the best option.
It's a shame I couldn't get the per day late fee at the library reduced. This is really the only place where I 'throw away' my money. I always manage to pickup books with different due dates and then forget to renew until the last due date is past.
On my taxes, can I classify these fines as donations?
Credit Cards
Shell Mastercard - This card had an APR of 19.99% which after 15 minutes on hold was lowered to 17.99%. This was as low as the CSR said he could go unless I was getting ready to cancel the card. Since I never carry a balance and didn't feel like going through the whole cancellation song and dance, I took the lowered rate and hung up the phone. I'd imagine that if I had threatened to cancel the rate would have be lowered.
American Express Blue Cash - My current APR was 14.25% and the CSR couldn't get it to go any lower; she did put a note in my file that I wanted to lower the APR. My cash advance APR was lowered to the same rate from 23.25% which is a significant drop. Again, I don't foresee myself using this feature but I wasn't about to turn down the lowered rate.
US Airways Mastercard - Current APR was 14.5% which cam bundled with my signup bonus of double miles for the first year. I detest this airline with the passion of my soul but since most of my paid-for travel sends me through Charlotte, I have a lot of miles already racked up. The only way to get my APR lowered was to lose the double miles bonus. After I spend another $2,500 on this card, I will have 3 roundtrips worth of miles and I plan on canceling the card immediately. I'll probably then open up an AMEX Starwood Card in its place.
Cellphone
I share a plan with my mother, brother, and sister-in-law. This works out to be about 30 bucks a month, well below anything I could get on my own. The $10 I spend for text messaging could be forgone in months of need but I do use this feature a lot.
Internet
I pay less than $50 dollars for Road Runner and the basic TV package (80 channels). The only better 'deal' would involve spending another $5 dollars a month for DVR. Since I watch most of my TV shows on the via the show's website, I declined this offer and kept my current rate.
Car Insurance
I was already sitting pretty with my rate of $24.50 / month so I didn't bother calling my agent. This rate is already dirt cheap for an under-25 year old male driver.
Magazines
All of my subscriptions are either a) gifts or b) Coke Rewards. No money to save here.
Gym Membership
I have access to free gym equipment at both my apartment and place of employment. Again, I don't pay for these services so I couldn't save any more money.
Bank Accounts
All of my savings are in an HSBC High-Yield Savings account which earns an APR of 4.25%. I've been very satisfied with the services I receive, and I wasn't going to move my small savings around for a small increase. I have a checking account with Bank of America as well as a savings account (I pay my bills out of this). Both of these accounts qualify for free services and since there's a BOA on every corner, I already have my money in the best option.
It's a shame I couldn't get the per day late fee at the library reduced. This is really the only place where I 'throw away' my money. I always manage to pickup books with different due dates and then forget to renew until the last due date is past.
On my taxes, can I classify these fines as donations?
Sunday, January 20, 2008
2008: Week 4 Forecast (01.20 - 01.27)
Projected Additional Income:
Returns: $11.00
This week's forecast for additional income is rather bleak. Most of the local school districts just finished exams and have off Monday / Tuesday; thus, my tutoring clients have all asked to not have a session this week. Because of this, all of my expenses will have to come out of the 15th's paycheck.
Projected Expenses:
Cable: $48.50
Food: $30.00
Gas: $50.00
Expenses this week should be kept to a minimum. Due to the camping trip this weekend, I doubt I'll make it to the end of the week without needing gas. I think I've got about 65 miles left on this tank which should last to Friday. My fridge needs some restocking but all of the items on my list can be bought at Aldi which will really cut down on the price. As usual, the cable bill will be deducted from my bank account on the 24th.
This week will really determine if I'll be able to snowflake an additional contribution into my savings account at the end of the month.
2008: Week 3 Roundup (01.13 - 01.19)
Weekly Additional Income (Projected / Actual) : $730 / $712.80
One of my clients flaked out on his session which cut into my additional income by $40 dollars. With it being the end of the semester and the client in question is changing classes, I doubt that's an income I can count on in the future. It's time to inform my regular referrers that I have open slots. My bonus after taxes worked out to be exactly $600, which I promptly transfered straight into savings. This absolutely rocked!
I won the monthly fitness challenge yet again at work, so that was another easy ten dollars. As long as I don't go down with an injury, I can count on this money each month unless the rules change to give somebody else a shot. There's been some discontent among my colleagues about how unfair it is to reward the winner simply on the amount of time trained per month.
Weekly Expenses (Projected / Actual) :
Cellphone Bill: $34.14 / $34.13
Gas: $50 / $73.71
Groceries: $50 / $62.12
Student Loan: $33 / $33
Water Bill: $0 / $27.35
Misc: $0 / $64.82
So my estimates were a bit off, the camping trip on the weekend totally blew my weekly plan. The trip will end up costing me about $100 dollars by the time I get my gas situation all straightened out. Next time I'm asked to do somebody a favor, I'm going to hang up the phone and sleep on my decision.
Either way, no major additional expenses this week; I simply had to trade upgrading my MacBook's RAM for a camping trip in the snow.
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