Financial Freedumb

Check Out My New Site! Financialfreedumb.com

2006-07-25T13:31:00.000-10:00

Still working on finalizing things, but take a look around...drop me a comment on the new site! Thanks for bearing with me through this transition. My RSS feed is still having some problems so, it won't be updating until I get those issues worked out. financialfreedumb.com

I'm Done...

2006-07-24T10:44:00.000-10:00

Posting on blogspot.com that is. I'm in the process of migrating over to my own site. During the migration of my posts and comments to Wordpress, all my formatting for my old posts on blogspot.com dissappeared. Luckily they show up fine in Wordpress. So, I'm going to postpone any further posts on blogspot.com until I have my own site up and running. I should be done within the next few days. In the meantime, please enjoy my formatless posts in archive. :)

My Home: Why Not Kansas? Free Land!

2006-07-23T08:26:00.000-10:00

Not sure if you've seen this before, but it's been on the news a few times where I live. Free land in Kansas! Some restrictions, but for the most part, it's free. But to each his/her own...I choose to live here in Hawaii. I would consider moving, maybe, if my family and friends weren't here...but I'm not sure I would be able to handle moving to the middle of Kansas. :/

My 401k YTD Rate Of Return Is a Measily 0.4%. What's Yours?

2006-07-22T13:26:00.000-10:00

My current rate of return (ROR) for my 401k year-to-date (01.01.2006 - 07.21.2006) is 0.4%. Not that great at all. I'm curious, how are your 401k's doing? What's your ROR? This is how ROR is calculated, per my 401k website: Normally, you analyze an investment based on its Beginning Balance, its Ending Balance, and the schedule of Cash Flows between these 2 balances. Your Rate of Return is calculated as the Rate of Return for your particular Beginning Balance, Ending Balance, and schedule of Cash Flows. A compound daily rate of return is computed by testing different rates until one is found that increases (or reduces in the case of a loss) your beginning balance and all of your cash-flows to equal your ending balance within 0.00000000001%. Then the actual account performance during the investment period is calculated.

Bull Market? What Bull Market? Oh, That Kind of "Bull" Market & Egg-vertising

2006-07-21T09:32:00.000-10:00

Since it's Friday, and tomorrow is Saturday, and the day after that Sunday, aka the WEEKEND, what's more appropriate than a little laugh to get everyone ready for 2 days to relax--I hope. If you don't get the weekend off, then just enjoy the chuckle, giggle, or laugh. If you don't get anything out of these articles, I'm sorry. The first article is about the "bull market." If the article didn't have a picture, I wouldn't have guessed it's about a male cow...It was in the "Business" section of MSNBC.com. It's kind of funny... The 2nd article talks about how CBS is taking advertising to a whole new level...Call it "egg-vertising." Too bad most people eat their eggs in the morning before primetime.

Wage Inflation Affecting India. Salaries Increase To $5,763.

2006-07-21T07:02:00.000-10:00

I always wondered what do the folks in India get paid. Well, I found this article that talks about how India is dealing with wage inflation. "During Infosys' earnings call the previous week, Infosys CEO Nandan Nilekani addressed the twin topics of wage inflation and employee attrition, saying that the company will increase starting salaries from $5,122 to $5,763, a 12.5 percent increase, on average." Check it out in its entirety.

Surprise! "Fun Fund" Opened At...GMAC.

2006-07-20T11:58:00.000-10:00

Yep, I've opened my "fun fund" account, and it is at GMAC. Why? Well, it offers check writing, ATM card, a fairly low min ($500), supposed fast online transfers, and a pretty competitive interest rate. Not to mention the process so far has been amazingly painless. I'll keep you all posted on the status of my GMAC account opening process. I could not find any bonus/incentive offers though...and if you have, please don't post it! I don't want to find out after the fact. Thanks. :) By the way, I did consider HSBC, but I already have an account there...Paypal, that would've been perfect, except for the possible problems with withdrawals and lack of FDIC insurance...finally, my credit union...I can still use the credit union, but I can avoid their horrid interest rates...

WARNING: Phishing Alert - eBay - But This One Is Different!

2006-07-19T20:08:00.000-10:00

I have to admit, this phishing attempt is different. It's coming from a unassuming location. Who would think that a question from a fellow eBayer could be attempt to steal your info? On top of that, only the yellow "Respond Now" button leads to a false location. For reference...Give them some fake info: http://alice.ics.nara-wu.ac.jp/~chubo/ebays.html Return-path: Received: from spm02 (spm02) by jem01 (Sun Java System Messaging Server 6.2-5.04 (built Jan 24 2006)) with ESMTP id <0j2o00ci4tq995b0@jem01> for ; Wed, 19 Jul 2006 19:54:09 -1000 (HST) Received: from mail.digitrain.ac.nz ([203.97.26.98]) by spm02 (8.13.6.20060614/8.13.6) with ESMTP id k6K5s0SX016030 for <>; Wed, 19 Jul 2006 19:54:07 -1000 (HST envelope-from donna@digitrain.ac.nz) Received: by mail.digitrain.ac.nz (Postfix, from userid 1030) id 6A349199C10D; Thu, 20 Jul 2006 16:16:51 +1200 (NZST) Date: Thu, 20 Jul 2006 16:16:51 +1200 (NZST) From: eBay Subject: Question from eBay Member To: undisclosed-recipients: ; Message-id: <20060720041651.6a349199c10d@mail.digitrain.ac.nz> MIME-version: 1.0 Content-type: text/html Content-transfer-encoding: 8bit\r\n X-PMX-Version: 5.2.0.264296, Antispam-Engine: 2.4.0.264935, Antispam-Data: 2006.7.19.223932 Original-recipient: rfc822; X-Perlmx-Spam: Gauge=XXX, Probability=30%, Report='PHISH_NO_HTML_TAG 1.25, CTYPE_JUST_HTML 0.848, HTML_MIME_NO_HTML_TAG 0.8, PHISH_SUBJ_LOW 0.5, __CT 0, __CTE 0, __CTYPE_IS_HTML 0, __HAS_MSGID 0, __MIME_HTML 0, __MIME_HTML_ONLY 0, __MIME_VERSION 0, __PHISH_FROM 0, __PHISH_FROM2 0, __PHISH_SUBJ_PHRASE1 0, __RUS_MIME_NO_TEXT 0, __SANE_MSGID 0'

WARNING: Phishing Alert - HSBC.com

2006-07-19T19:30:00.000-10:00

This a phishing email received today. This is for reference only. If you're bored give them some false info: http://forum.schoschonen.com/event/official-security/upgrading/HSBC-US/login.htm Return-path: Received: from spm04 (spm04) by jem01 (Sun Java System Messaging Server 6.2-5.04 (built Jan 24 2006)) with ESMTP id <> for ; Wed, 19 Jul 2006 17:48:29 -1000 (HST) Received: from alioth.digity.it (mizar.inartis.it [83.103.90.253]) by spm04 (8.13.6.20060614/8.13.6) with ESMTP id k6K3mGI0020397 for <>; Wed, 19 Jul 2006 17:48:26 -1000 (HST envelope-from web@Alioth.digity.it) Received: by alioth.digity.it (Postfix, from userid 1001) id C7E9538F50C1C; Thu, 20 Jul 2006 05:46:51 +0200 (CEST) Date: Thu, 20 Jul 2006 05:46:51 +0200 (CEST) From: HSBC Bank USA Subject: Important Message From HSBC Bank USA To: Reply-to: Message-id: <20060720034651.c7e9538f50c1c@alioth.digity.it> MIME-version: 1.0 Content-type: text/html Content-transfer-encoding: 8BIT X-PMX-Version: 5.2.0.264296, Antispam-Engine: 2.4.0.264935, Antispam-Data: 2006.7.19.203432 Original-recipient: rfc822; X-Perlmx-Spam: Gauge=XXIIIIIII, Probability=27%, Report='REPLY_TO_EMPTY 1.699, CTYPE_JUST_HTML 0.848, PHISH_SUBJ_LOW 0.5, __CT 0, __CTE 0, __CTYPE_IS_HTML 0, __HAS_MSGID 0, __MIME_HTML 0, __MIME_HTML_ONLY 0, __MIME_VERSION 0, __PHISH_FROM 0, __PHISH_FROM2 0, __PHISH_LOGO 0, __PHISH_LOGO_HSBC 0, __PHISH_SUBJ_PHRASE1 0, __SANE_MSGID 0, __TAG_EXISTS_HTML 0'

Off Topic: When Personal Beliefs Should Be Put Aside For the Greater Good...

2006-07-19T09:56:00.000-10:00

I realize that people have beliefs, I have them too, but when the potential exists to help millions of people, I might have to reconsider putting my beliefs aside, just for a second, for the greater good of humankind. That being said, I really am dissappointed that President Bush has decided to veto expanding embryonic stem cell research. No matter what we decide, other countries will move forward, leaving America in the dark. Sorry my fellow citizens, this is a blow to the future of health sciences in America. Looks like we'll be on the sidelines as the next leap of health science occurs right before our eyes. Those who stand with President Bush, are you not going to use the health advances discovered when cures tied to stem cell reasearch are found? What would you do if your father, mother, son, daugther, aunt, uncle's terminal disease could be cured? Would you put your beliefs aside then?

It's Going To Hurt When I Have To Pay My 0% Balances Off...Oh, and My Credit Card Limits.

2006-07-19T09:42:00.000-10:00

Just looking over my current financials, and the almost $32,000.00 in credit card debt just sticks out. I don't like having debt, and as much as I know 0% is playing in my favor, it still kind of sucks knowing I have to pay it off eventually. Anyway, I decided to take a look at my credit card limits (credit Claire @ Tired but happy) in hopes that my debt to credit limit ratio is fairly low. So here we go: CC1: 14,400 (used: ~10,000, 0%) CC2: 15,000 CC3: 9,000 CC4: 15,500 CC5: 16,000 (used: ~790, paid off monthly) CC6: 22,000 (used: ~20,000, 0%) <- not good for credit score? CC7: 16,200 Total Credit: $108,100 Well, that puts me at around 30% credit utilization. Unfortunately, I think it's not overall credit usage that affects your credit score, but utilization per credit card? Anyway, come the end of the year CC1 will become a zero balance credit card. CC6 is good until Sept 07.

Privatization = Better World

2006-07-18T08:28:00.000-10:00

There was an interesting news clip on TV awhile ago on privatization and how it benefits the world. In essence, privatization equal ownership, ownership equals taking care of whatever it is being owned. Ultimately, this creates a sense of responsibility for the object being owned, and thus a better world. Students of this high school were given one cup of Hershey's Kisses that "reproduce." For each Kiss left, you get one more at the end of each "round." In the first part of the experiment, each student group had one cup and told to take freely from the cup. In the end of the first part, there were no Kisses left or sometimes one or two--generally not sustainable. In the second part, a student in a group was given their own cup and told to take as many Kisses as they want and to give them away, half of the Kisses were left in the cups--sustainable. The point of this exercise was that privatization helps because people/owners take better care of something they own, rather than land owned by a group or the public. I thought it was pretty interesting. What do you think? Should more parks and public places be owned by a private group?

My Home: Feedback From Readers Convinced Me To Make Some Changes...New Housing Requirements and Saving More For the Down.

2006-07-17T09:34:00.000-10:00

My Home: A series about the home buying process through the eyes of a first time home buyer.

Sometimes reality sucks doesn't it? I've done some analysis on the real cost of ownership on my future home, and it hit me like a sledgehammer. Sorry Freedumb, try again. I got some great feedback (I was even told I'm "spoiled"). Before I go on, I'd like to refer to my post on why I want to live here in Hawaii. I realized I really needed to think about it again (an argument for blogging!). The most basic question I asked myself again, do I even really need to get a home right now? The answer? No. I'm not going to throw away my dreams of getting a home, rather I'm going to take a step back and change my requirements and my timeline. CityGirl has a great post about knowing thyself that would be worth checking out. Originally, I was excited to get a home because, well, it'd be my own place, the American Dream, blah blah blah. My dog would have a yard to run around in. I'd have something to take care of and watch as my investment grows. Then reality hit, and I got great feedback. I realized how much it would really cost to own what I want. I don't want to be living paycheck to paycheck, nor do I want to dig my own financial grave. So, that being said, I've decided to put off my home purchase even beyond next summer for as long as I can wait. Why? Well, I'd like to save as much as I can to have a bigger down payment so that I don't have to borrow too much. (Thanks NCN for making me think about credit a little more) I'd also like to observe the housing market longer. I've decided to do a couple of things: 1. Create a designated "house fund" that will be for my down payment. This is so that I'll have some extra cash for everything else. I can't drop my whole savings into the house, that would be dumb. (Madame X made me think about this a little more) 2. Reduce my requirements for my house. See below.

Original requirements

My revised requirements:

~ 5000-10000 sqft lot size ~ 1200-1500 sqft living space - A decent sized yard, with a portion fenced off for Brownie to run around. - Early mail delivery. Yes, I like having my mail delivered early! - Hands free faucet in the kitchen. - Target price of around $500-650K - Off major streets - Level lot - 2 car garage - Fairly up to date electrical system, if not then the ability to upgrade easily. - 10' ceilings - 4 Bedrooms (Maybe a split, two level house, so I can rent one and live in another) - Wired for CAT 6E. I'm pretty sure this is something I'll have to setup myself. - I would like a location about 15 mins from town. - Friendly neighbors...who wouldn't want that! - Decent amount of street parking - Breezy and cool location - Fairly close to freeway

~ 4000-6000 sqft lot size ~ 800-1200 sqft living space - Target price of around $450-600K - Off major streets - Level lot - 2 car garage - Fairly up to date electrical system, if not then the ability to upgrade easily. - 2 Bedrooms - I would like a location about 15 mins from town. - Decent amount of street parking - Breezy and cool location - Fairly close to freeway

Originally, I wrote: So, my monthly mortgage? @ 6.85% 30 yr loan would be $2,621.00/month. Now, to estimate everything else. I'm going to estimate on the high side.

Home Owners Insurance - Assuming .5% per $100,000 in home value = $2,750.00/year
Property Taxes - Assuming 1% per $100,000 in home value = $5,500.00/year Maintenance - Assuming larger than average maintenance costs for first year = $10,000 for 1st year, $5,000 there after. This includes a lawn that might need some care...or new flooring...things I think I'll probably change out when I move in.
Utilities - Cable, Phone, Electricity, Water - Based on how much my friend pays - $3600/year.
Initial Purchases: Equipment, furniture, appliances - $5,000 for first year, $2,500 there after.

1st year total without mortgage = $26,850.00 (or $2,237.50 / month) Thereafter = $19,350.00 (or $1,612.50 / month) 1st year monthly costs with mortgage = $4,858.50 per month Monthly thereafter = $4,233.50 per month I'm going to adjust costs to more realistic levels based on feedback received and comments from friends and family. With the same monthly mortgage @ 6.85% 30 yr loan = $2,621.00/month.

Home Owners Insurance = $2,750.00/year
Property Taxes = $5,500.00/year
Maintenance = $5,000 for 1st year, $2,500 there after.
Utilities = $3600/year.
Initial Purchases: Equipment, furniture, appliances - $2,5000 for first year, $1,000 there after.

1st year total without mortgage = $19,350.00 (or $ 1,612.50 / month) Thereafter = $15,350.00 (or $ 1,279.17/ month) By the way, I am considering once a year fees as part of my monthly expenses just for a better picture of my total expenses. 1st year monthly costs with mortgage = $ 4,233.50 / month Monthly thereafter = $ 3,900.17 / month Hmmm, still a little high, so I've increased my down payment to $200k, which would reduce my mortgage loan to $350k. My new monthly mortgage @ 6.85% would be $2,293.00 / month. With the same other expenses I wrote about before: 1st year monthly costs with mortgage = $3,905.50 / month Monthly thereafter = $ 3,572.17 / month Better. Still high, but at least that's manageable considering my current income. I'll keep trying to save even more for a down payment. The more the better. The journey continues...

How Much My Education Costed...My Entire Education From K Through College.

2006-07-17T07:10:00.000-10:00

So I was curious, everyone talks about the price of a college education, but ever wondered what the cost is to be educated through a lifetime? Having gone to private schooling from K-12 and then a public state university, my education costed a little more than attending a public school. K-8, small Catholic school: ~$1,000.00/year (averaged over 9 years) + $2,000.00 for summer fun/school. 9-12, a different Catholic school: $4,000.00/year + $1,500.00 for summer school. College, state university (removed my scholarship): $2,000.00/year (averaged over 5 years) + $1,200.00 for summer school. Total? $39,700.00 for my total education. Not adjusted for inflation. That's a pretty penny. Now if I consider my scholarship, my total education costs drop to: $15,700.00. I hope my kids can get a scholarship! (I don't have any, but if I do in the future)

Being In Debt = Being a Slave?

2006-07-15T06:15:00.000-10:00

First off, I commend and respect NCN's stance on refusing credit. The principle is good, and I agree many people in today's society are often in over their heads in debt. But putting all formlities aside and being honest, that is the individual's fault, and no one else's fault but their own. There are circumstances where I believe the decision to go into debt might have been extremely difficult, and I'm in no way trying to put that lightly. I believe that some honest hardworking people who are trying to now pay down their debt are "in over their heads," and I hope the support and help is there to help them get out. I'm not being insensitive, just stating the truth. Now if a creditor took advantage of people by using confusing terms, tricks, lying, etc. that is a whole different story, and not one I'll get into. I believe there's a basic fault in the premise that having credit equals being someone else's slave, because as people, we all owe someone something, regardless of how much we think we made it on our own. I'm not talking just money here obviously, could be time and labor to help move, could be someone looking after your shopping cart while you went to find your kid, could be anything. My point is just because you owe someone something does not make you their slave. I sometimes pick up the tab for lunch or dinner for my friend knowing that later down the line they will do the same. I don't think of them as slaves, and if I happen to pick up another tab before they do, I don't count. If that is the case then, you my friend, need to find new friends. Here's a statement I have a problem with:

I'm pretty radical. I refuse to borrow money. I will not borrow money from anyone, not even a friend or a relative. I will humbly accept money as a gift, or proudly take money as salary for a job that I have done, but I will not borrow money. I will not borrow money for a car, for a house, for a boat, for a sandwich. I will not borrow money... Why? Because, I refuse to be anyone's slave...

But come on, borrowing money for a sandwhich equals being a slave? That definitely is a little too radical for me.

I will not bow down to the gods of CitiBank or Bank of America or Ford Motor Credit. I do not care how they "reward" me, entice me, trick me, or invite me. I will not be seduced by their promises and their plans for my future. I have a brain of my own. No amount of "cash back" is worth giving up my freedom.

CitiBank, BofA, and Ford Motor Credit are FAR from gods. The foundation of freedom in America runs much too deep for even the hands of CitiBank to dig up.

Off Topic: Getting Off Blogger and Blogspot.com - A Mini-Guide

2006-07-14T10:44:00.000-10:00

Alright, for those interested in moving off of Blogger.com (I hope I don't lose my account lol), Flexo over at Consumerism Commentary is generously offering 5 lucky bloggers their chance at having their own domain name hosted! FYI, Domain name registration not included, unless you'd like to pay Flexo to have him set it up for you. It may already be too late though, since it was first come first serve I believe. Go there and read the terms he set out... I haven't setup hosting for Financial Freedumb yet, but I am thinking about doing it in the future. I'm slowly in the process of moving over already actually. I don't want to impact my readers too much in one shot, so I'm taking it slowly. Here are my plans, if you have any tips on minimizing the impact on my readers and my exposure, please let me know! 1. I'm using Feedburner. This way, I can point my feed to a new "source" without affecting the original RSS location. Readers already subscribed to my blog should not be affected, no need to resubscribe. The last thing I need is to lose 1 of my 10 subscribers! :D 2. I've purchased the domain name, financialfreedumb.com, and have it redirected to my http://financialfreedumb.blogspot.com. This way, I can always reference financialfreedumb.com as my blog address. Then when the switch over happens, it should be fairly painless. 3. I plan on posting a few times before the switch over to request bloggers to switch over links to http://www.financialfreedumb.com instead of http://finacialfreedumb.blogspot.com. 4. Finally, I plan to keep my blogger account alive, but change my template to point users to my new site. All old links will work, but notify readers of my new location. That's it. If all goes well, impact to my readers should be minimal, and that's goal number one. Can you tell I work in customer service and have been brainwashed for long enough? If you're interested, please signup through my referral link...I host at dreamhost.com, and they're awesome! They have this "one-click" install which lets you setup Wordpress. Very convenient! Or just pay Flexo. :) Maybe you can convince him to start a "fee-for-migration service."

Updated Doggie Costs

2006-07-14T08:38:00.000-10:00

If you haven't read about Brownie's not so fun encounter with d-i-a-r-r-h-e-a, check it out. He had an unplanned vet visit due to it, but he's much better now. Poor guy had the runs like I hope no one ever has to go through. Main post has been updated if you're interested in seeing where all the money spent on Brownie has gone. Total cost to date: $4,301.79.

My "Fun Fund" Will Not Be At Emigrant. Here's Why.

2006-07-13T09:33:00.000-10:00

So in deciding where to open my "fun fund," originally Emigrant had been my favored institution, but recently, I read a post on Bank Deals that stated, Emigrant downgraded to 2 stars. No big deal right? They are FDIC insured. Ummm, not completely. If I have a choice, I'm not going to put my money in a bank that might be insolvent, however unlikely that may be. Of course, I haven't done a ton of research into Emigrant, but really, I'm not looking to do so. I just want an easy place to put my money to spend, and one that I don't have to worry about. Even if it's not completely true, there has to be some truth behind it. That being said, my current consideration list is: - My current credit union's savings account. A fairly low savings rate, but it's convenient and easily accessible. I can also get traveler's checks for free. - Paypal (thanks LAMoneyGuy). Might be a good mix between a full fledged online bank and my local credit union. Transfer is much quicker than HSBC, that's for sure. Plus no minimum, and I can use it to buy things online, although I'd still probably use my credit card. So that point is moot. And rates are very competetive...I was surprised actually. At 4.95%, that's pretty impressive. I'm going to be out playing a round of golf today (yes, I'm taking a half day from work...I am not play hookie). I haven't hit a golf ball in over a year, but this will be for a school benefit, which is why I'm going. It should be very interesting. I won't be posting anymore until later today if anything.

Silver, Buffalo & Wheat In Your Pocket?

2006-07-12T07:56:00.000-10:00

Did you know that some valuable coins are still in circulation today? They could even be in your pocket! I just thought I'd share the little I know about coins...there's a huge world of coin collecting I'm not going to go into. I don't know enough, and as much as I would love to get into it, I don't think I have enough time right now. Although, had I invested in coins earlier, considering metal values today, I would be one rich dude. Let's start with the penny: Ah it's a penny. Look for odd looking ones. Even if composed of rare metals, it's pretty small so there's not much in there. Although, if you do find a 1943 copper penny, that penny could be worth $200,000.00+!! The nickel: Look for the buffalo or nickels dated from 1942 - 1945, known as the wartime nickels. These are composed of 35% silver! I think early nickels are composed of nickel...that's why they are not worth that much except for the buffalos and the wartime nickels. The dime: If you have a dime dated 1964 or earlier, keep it. Could be worth something. Unless you have a 1965 silver dime, which were made with silver by mistake, it could be worth more than $9000! The quarter: Same here...the magic year is 1964. 90% silver! If you find a quarter severly misstamped...KEEP IT! It's worth $400-3000 USD! Check this post out if you haven't already... So there you have it. Dump out the change in your pockets, sift through the jars in your homes, empty out those ash trays full of coins in your cars. You could strike it rich! If not, roll them up or go to a coin counting machine...They earn no interest sitting there. Oh and if you find a super valuable coin, be sure to send Freedumb a piece of the change. I'll write up a thank you letter for the world to see on my blog. Trust me, the exposure on my blog is priceless. ;)

Who Still Keeps Money Under the Mattress?

2006-07-12T07:32:00.000-10:00

Just reading something at Consumerism Commentary, and the question popped into my head, "Who still keeps money under the mattress (or some similar hiding area)?" I have a couple hundred, maybe three hundred at most, lying around in various places, but honestly, I only remember the location of a $20 bill. I put them there mainly because, well, I just needed someplace to put them, and they stayed there. Some of my cash has been stashed away since high school. Do you hide cash away?

My Home: Home Price Is One Thing, What About Everything Else?

2006-07-11T08:11:00.000-10:00

My Home: A series about the home buying process through the eyes of a first time home buyer.

I've set my budget, but that was just for the price of the home. Just as important as figuring out how much of a house I can afford is figuring out how much I'll need to do everything else associated with a house. Consider home owners insurance, maintenance, upgrades, taxes, etc. I'm going to try and estimate these costs to give me an idea of what it'll really cost me to own a home, and how it'll impact my everyday life. I don't want to own a home but have no money left for food and other necessities. Not to mention, I don't want more debt on top of my mortgage. So what should I expect to really spend per month to be a home owner? Well, let's assume I bought a $550k house...I put $150k down, and financed $400k. Let's also assume the closing costs, fees, etc. that are part of the home buying purchase were included in the loan. So, my monthly mortgage? @ 6.85% 30 yr loan would be $2,621.00/month. Now, to estimate everything else. I'm going to estimate on the high side.

Home Owners Insurance - Assuming .5% per $100,000 in home value = $2,750.00/year

Property Taxes - Assuming 1% per $100,000 in home value = $5,500.00/year Maintenance - Assuming larger than average maintenance costs for first year = $10,000 for 1st year, $5,000 there after. This includes a lawn that might need some care...or new flooring...things I think I'll probably change out when I move in.

Utilities - Cable, Phone, Electricity, Water - Based on how much my friend pays - $3600/year.

Initial Purchases: Equipment, furniture, appliances - $5,000 for first year, $2,500 there after.

1st year total without mortgage = $26,850.00 (or $2,237.50 / month) Thereafter = $19,350.00 (or $1,612.50 / month) 1st year monthly costs with mortgage = $4,858.50 per month Monthly thereafter = $4,233.50 per month WOW! If my house were $650k, and I financed $500k. Mortgage would be $3,276.00. Tack on the additional costs, and my first year's monthly costs would become $5,513.50, and $4,888.50 thereafter per month. WOW! Did I already say that? Am I missing something? I know I went high...but dang! Are my estimates way off the mark? So on my next post, I'll tackle the question, can I really afford that?

When To Exercise Stock Options?

2006-07-11T07:09:00.000-10:00

I'm going to focus on Nonqualified Stock Options (NSO) because that's all I have. There are also Incentive Stock Options (ISO), but since I've never received any of them, I'm not sure exactly what the differences maybe. There are tons of articles out there are discuss the pros and cons of each. ISOs: "Incentive stock options granted by your company give you the right to purchase a specific number of shares of company stock at a specified price (grant price) for a predetermined period of time. Your incentive stock options are subject to special tax treatment when you exercise them and could subject you to the alternative minimum tax." NSOs: "Nonqualified stock options granted by your company give you the right to purchase a specific number of shares of company stock at a specified price (grant price) for a predetermined period of time. The exercise of nonqualified stock options is a taxable event regardless of whether you sell your shares or hold them." But basically it seems to come down to NSOs being a lot less of a tax headache than ISOs. "Nonqualified options have two disadvantages compared to incentive stock options. One is that you have to report taxable income at the time you exercise the option to buy stock, and the other is that the income is treated as compensation, which is taxed at higher rates than long-term capital gains. Incentive stock options provide a way to avoid both of those disadvantages. There's no income to report at the time you exercise the option (unless you sell the stock at the same time you buy it). And if you hold the stock long enough to satisfy a special holding period, your gain from the stock will be treated as long-term capital gain. These tax advantages are partly offset by the alternative minimum tax (AMT). This is a complicated calculation that may cause you to pay tax at the time you exercise an ISO. But the amount of AMT you pay is less than the tax you would have paid if you exercised a nonqualified option — and you may be able to recover much or all of the your AMT payment by claiming an AMT credit in future years." So, I have some options to exercise...when should I do it? I've come down to the philosophy that because I already have so much invested in my company through the Employee Stock Purchase Plan, I don't want to invest any more than I already am. So, I excerise as soon as I'm eligible to do so. My belief is that I can take that money and put it into some other investments, thereby diversifying my investments. There are some considerations that I would ask myself. For example, do I see myself being in a lower tax bracket while I'm still eligible to expense my options? If so, it may be better to hold off. Are the stocks temporarily depressed for some reason? If so, then you could consider holding off, but even then, excersizing might make sense since the gain could be used towards other investments. Paranoid Brain has a post on options as well.

Free Hat Survey For WallSt.Net.

2006-07-10T20:15:00.000-10:00

Never heard of this site before, but just filled out a form for a free hat. If you're interested, here's the link. Looks like an interesting site...Survey promotion worked...I just registered even though it wasn't required.

My Job Kind Of Sucks, But I Still Do It. How and Why.

2006-07-10T11:07:00.000-10:00

If you're like me, then you really don't enjoy your job, but then again, you really don't hate it either. It's just, well, okay. There are up days and down days...seemingly more down days. But my benefits are good...pay, working from home, and my coworkers. But customer support is probably one of the least glorious of all technical positions, right below testing in my opinion. Of course, poor customer support means lots of lost revenue and customers, so it really is important, just not well recognized. Sales and development always seem to get the recognition, but my post is not about the job itself, but how I deal with it. So how do I deal with the lowly drudgery of dealing with other people's problems everyday? When I graduated from college, I worked 8-6 at the office, and then went home and did more work. I even worked on the weekends. My boss loved me, but I swear my mind has lost a few gears since then. I can't seem to keep track of as many things, and this is only 5 years ago! So, in order to keep my sanity, I had to take a look at my life and what is important. First of all, I take deep breaths, and I don't let people aggravate me. It's not my problem, but it is my problem. I do what I can, when I can. I work smarter, not harder. Don't get me wrong, I still do a good, thorough job. But I won't hit myself in the head trying to perfect everything I do. I've come to accept a few slip ups here and there. In the past, I wouldn't have. I understand the fact that if I want to be the best in my field, I can't accept slip ups, but that's not my goal. My life takes priority over my job. My work is just as good as it was, but now I put in 25% less effort. As time goes on, I'm thinking I can get that down to 50% so that I can spend more time enjoying life. If you can't take a deep breath and see the big picture, then, my advice would be to take a day off from work just to do nothing except think about what is important. Put a few signs on your office wall reminding you of these. You only live once, and so you might as well make the most of it. It's not all about work and money. Funny, growing up, I heard the exact opposite, life is not all about play. How the tables turn.

11 Billionaires and a Few CEOs Under 35 Years Old!

2006-07-10T07:02:00.000-10:00

"Among the 793 billionaires Forbes found in 2006, only 11 of them, or 1 percent, were under the age of 35. Of those, five inherited their fortunes, like Prince Albert. The other six created their own wealth." Nice to hear that 6 actually created their own wealth, and pretty darn impressive! Read first article. This next one talks about CEOs under 35.

Hey, I'll Sell You 5 Pennies For 6 Cents!

2006-07-09T14:25:00.000-10:00

Now that's a deal! The US Mint is considering dropping it. Coined, no pun intended, the "nuisance coin," it's funny that only a third of Americans want to actually get rid of them. So next time you have a penny, keep in mind, you probably could get more for it by melting it down than taking it to the bank. Just be sure to also keep in mind that it's illegal to destroy federal property. Read the article.

Opening Up a "Fun Fund," Can You Recommend Which Savings To Go With?

2006-07-08T15:03:00.000-10:00

Alright, I have a hard time spending money, which is great, but this often leads to aggravation...of myself. You see when it comes time to buy gifts or spend money during a vacation, I just can't do it. I always think about how much it's impacting my net worth, how much I've worked to earn that money, and everything else that goes with spending money. So in order to combat that problem, I've decided to open a "fun fund." This money will be allocated to be spent on gifts, for others and myself, and on vacations, nothing else. Well, if necessary, an emergency emergency fund. But really the whole point of this account is to have it at 0 at least a few times a year. That's right a zero balance in a savings account. This fund will not be tracked in my net worth. It will be considered an expense before it's even actually spent. My requirements for this fund is that it is online, no minimum or very low (less than $100), has a fairly decent return, and can perform regular automatic deductions from another account. I am planning on funding this account with an initial $500.00 and then $100 per month thereafter, but that could change...what do you think is reasonable? I currently have two online savings account one with ING and the other HSBC. I guess having too many account is not a bad thing as comments on my previous post indicates. So which online savings bank to go with? Emigrant? Citibank? VirtualBank? GMAC? Some comparisons I've found: MyMoneyBlog Bankdeals I'd like to sign up for one that gives me some incentive to join. Right now I'm leaning towards Emigrant, just because they are the last of the "top 3" online savings accounts I don't have an account with yet. It also meets the requirements I stated above and MyMoneyBlog is giving away a signup bonus. Please leave me some feedback. Do you think this is a bad/good idea? I'll let you know which I've selected in a few days.

What Can 28 Million Buy You In Las Vegas?

2006-07-07T19:08:00.000-10:00

Not much in my opinion: Bedrooms: 4 Bathrooms: 5 full baths, three half baths Size: 12,041 square feet Yikes! Not to mention monthly homes sales fell 24.8% compared to last year! Wow. Read the article in its entirety here.

What If the US Went Cashless? The World?

2006-07-07T09:40:00.000-10:00

Laws of Finance does it...SingleMa does it, and I do it. So why doesn't everyone do it? I'm not sure. Hard to break old habits I guess? I love change--for the most part anyway. The idea of a cashless society intrigues me, almost as much as national sales tax. The reasons are many, but here are some I've thought of. It would have a huge impact on society, a positive one I think. Of course we eliminate some evils, and we introduce some new ones, but hey nothing is perfect. We just strive to be. PROS + Imagine all those tax dollars saved because we no longer have to print out money. Nor do we have to save, store, destroy old currency. + It will probably reduce petty crime. Stores can no longer be robbed for money. Drug deals would have to become more sophisticated. Prositution would be a little awkward. Illegal purchases made by younger kids could be automatically declined. Couterfitting will probably be eliminated, uhhhh, since there's no money to counterfit! + No more handling paper money means a much more hygenic society. Money has traces of bacteria, drugs and a host of other germs. Take a look at this...Dirty Money. CONS - Government/Companies running cashless systems would have a tremendous amount of information on individual habits. NEUTRAL - Affects on industries could be huge. Banks could change dramatically, retail would be simplified, coins would no longer have to be counted. The list can go on for miles. Society will change drammatically. This could be a pro too, but the impact on careers will be mixed. We can dream can't we? Bold moves like going cashless, a national sales tax, green cars, smaller portion sizes at restaurants, smokeless society, changing to metric, investing in medical research all takes, as SingleMa points out, vision. I hope I get to see a few of these introduced before I die. So pick something folks and go for it!

Friday! Update: Fantasy Football, Ads = Sell Out? 07.07.2006

2006-07-07T07:05:00.000-10:00

Alright, this will be a short and sweet Friday! Update. Read my post on fantasy football. Only bloggers in debt are allowed to "sell-out." Would you agree? I don't. EDIT: I want to clarify that Him @ Make Love, Not Debt argues that getting paid to write about a specific topic by payperpost.com is really just another form of spam and "selling out." I agree somewhat, if you get paid to write about something, that may be a form of selling out, but I think you have to be fair and really weigh the perspective the writer is coming from. If they just falsify their writeup to make money, then yeah, that's not good. But heck, if someone came up to me and asked to take a look and write something for a fee, I'd do it. It'd be honest though...if they don't agree to that condition, then I wouldn't do it. Also, I'm not going to even sign up or look through payperpost.com. If someone makes the effort to contact me, that's a different story. What do you think of my new layout? Have a great weekend! -FF (I told you)

Housekeeping - Blogs Removed

2006-07-06T10:08:00.000-10:00

I guess there comes a time when people lose interest, find other things more important, can't dedicate time...whatever the reason, everytime I find blogs that haven't been updated in awhile, it's kind of a shock. These 4 blogs were there before mine, and I found some good posts on them. If you have some time check them out. Just because I'm taking them off the list, doesn't mean they are not great reads. They still are. Except for Gay Finance because well...the blogs not there anymore! If any of you come back, please let me know. I'd like to add you back on to my blogroll. Whatever you are doing now, best of luck to ya! Financial Train Wreck Gay Finance Blog Kirby On Finance Young Professions Financial Blog I plan on doing this quarterly or so from now on...

Do You Look Like Your Net Worth?

2006-07-06T09:32:00.000-10:00

A couple of my friends look a lot more expensive than they are financially worth. I'm just talking financially here...As friends, they're worth more than money could buy. So don't go all crazy on me for this post. What do I mean? Well, they buy expensive clothes and bags, but they are in debt and live paycheck to paycheck. To each his/her own, but that brought up a question in my mind, do you look like how much you're financially worth? I'm just talking about the clothes, car, and entertainment kind of worth. I know I don't. For example, some people may eat out at expensive restaurants, drive expensive cars, but be heavily in debt. I like wearing old shirts, not new old shirts either...Shirts that I have owned for almost 10 years now. They're so soft and comfortable. I like leaving my hair uncombed. Considering I work at home, I guess it's okay. Some people would be embarrased, and call me a slob. I don't think I am. I clean up when I need to, but I'm not overly concerned with how I look. Hmmm, that could attribute to why I'm single. Hah. But hey, I'm not complaining, I like single life. A while back, Him @ Make Love, Not Debt, wrote Metrosexual Expenses. I was pretty shocked...I'm looking for the cheapest haircuts. So, do you look like your net worth?

Fantasy Football and Some Tips From Freedumb So That You Can Make Some Money

2006-07-06T06:46:00.000-10:00

THANK YOU FOOTBALL GODS! The season is upon us! I love football. Pro more so than college. And by the way, I'm not talking about soccer, the other football. Rather, I'm talking about NFL football. Football is going to start hitting high gear in a few months, and there's no other sport like it. Especially when it comes to making money! So many ways to place friendly wagers, but by far fantasy football is the most addicting and exciting form of "fantasy" sports. The sport just fits well...scoring, the amount and frequency of games, the technicalities. It's not too confusing like fantasy baseball can be, and it's not overwhelming due to the number of games like fantasy baseball or basketball. I'm in a league for almost 8 years with a group of friends. It's great fun. Being in a group with your friends makes fantasy even better. I don't think I would've kept in touch with many of them without football. Okay enough of that, on to the good stuff!

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How does fantasy football work? Fantasy football leagues are generally 8, 10 or 12 team leagues. Where each team composed of various football players from different skill areas. Each team should be owned by different owners, otherwise it could make for some cheating. These teams then compete throughout the football regular season, usually a fantasy football season is 14-15 weeks long, ending a couple weeks before the end of the regular football season. This is mainly because the end of the season is bad for fantasy football players as many teams will bench players or adjust the normal play times based on whether that game is important or not. For example, if a team is 14-1, and already locked the division's top spot in the playoffs, then why risk injury? Thus they bench their star players early. This is bad for fantasy football teams. I'll explain why later. What are skill areas and how does the scoring work? Each week you face another owner. Each owner manages a team of fantasy football players. The number of players varies according to league rules. For example, league ABC consists of 8 fantasy football players. The players are broken down like this: 1 Quarterback, 2 Running backs, 2 Wide Receivers, 1 Tight End, 1 Kicker, and 1 Team Defense = 8 players. These 8 players get points, and the sum of the points equals your team points. Whichever team in the head-to-head competition that has the higher point total wins for that week. Scoring varies according to league rules as well. One simple example would be, 6 pts for each touchdown (passing, rushing, or receiving), 1 point for each 10 yards rushed or caught, etc. Okay, so how do I get my team? Do I just get to pick players? Sort of. Just like real football, there's usually a draft. However, there are also variations here, like a auction system draft. Most drafts, though, are typically setup as "rounds," where each round consists of each owner picking one pick. The order of this draft is pre-determined, and the position you have can greatly affect your team. For example: Round 1 1 pick: Owner A 2 pick: Owner B 3 pick: Owner C 4 pick: Owner D 5 pick: Owner E 6 pick: Owner F 7 pick: Owner G 8 pick: Owner H Round 1 9 pick: Owner H 10 pick: Owner G 11 pick: Owner F 12 pick: Owner E 13 pick: Owner D 14 pick: Owner C 15 pick: Owner B 16 pick: Owner A Notice how the draft order "snakes." This is a typical draft system. So now you are ready to get started! Okay, maybe not, but hey I'm not done yet...so keep reading. First off, start by checking out a few of the "free" fantasy football sites, like Yahoo! Sports Fantasy. Just sign up and join up a random league. It's a great way to learn and meet people. Of course use Google! Some sites to check out: http://www.fftoday.com/ http://games.espn.go.com/ffl/frontpage http://football.fantasysports.yahoo.com/f1 http://kffl.com/ http://www.profootballweekly.com/PFW/default.htm My tips: - Get a couple magazines. The Fantasy Football Index is a must for any fantasy football player. So get this at least. Buy it online to avoid sales tax and get free shipping. The second magazine is not a must have, but I like the Pro Forecast and Pro Football Weekly. Which one to get is your decision. I don't think it makes much sense to get more than 2 magazines though. Keep in mind by the 4th week in the regular season, most of information is outdated anyway. You'll be using it as a reference and for info on backup players and team schedules. - Your draft strategy should be based upon:

--Scoring system. This could change the value of a quarterback, running back, wide receiver, etc. --Number of teams in your league. If you have a large league, than running backs become much more valuable! Keep in mind each team usually has one primary running back while there are two primary wide receivers. --How many really good players are there in each skill area? If you have a dedicated Tight End position, then consider that there are only 3 or 4 really good tight ends. The rest are, well, blah. This makes those 3 or 4 players much more valuable. But don't overvalue them either! Nothing makes me giggle more than a tight end being taken in the 2nd or 3rd round of the draft. --What's the drop off in quality between players? For example, the difference between quarterbacks are usually fairly small with a few exceptions like Peyton Manning in 2004-2005, but then the rest of the quarterbacks are all almost the same. --Know you draft position! The first pick is great, but keep in mind that you have no more picks for quite awhile! "Bookends" or the last pick in the first round also has benefits since you get two picks in a row. --Remember, you can always trade. If a valuable player is sitting there, but you don't need them, you may be able to score two players for that one, so it may be worthwhile to draft that player anyway. But don't lose site of the possibility that a trade may not work out. --Think about the offense. A high scoring offense will add value to offensive players. Also, a running offense means runnings backs are good bets on that team. A passing offense means quarterbacks and wide receivers are good bets. --Think about the team's schedule and division. A weak division is usually a good thing for a strong team, thus a good thing for fantasy players. --Consider a player that was good the last last season, but flopped. They made be picked up later, but give you a high return.

- Don't overanalyze. - Never sit a stud. In other words, even if Shaun Alexander has two bad games in a row, you don't bench him for Thomas Jones. -There are more tips, but I don't want to give away all my insider knowledge. :P If you want to join a BIG league fantasy football league, then check this out, WCOFF--we're talking $1495.00 per team! No kidding. But if you win it all, you get $200,000.00. Not bad. There are tons of other ways to place wagers and make money with football, like the grid or playing 10 number blocks. Or a friendly work pool where each person gets one team which is randomly selected. The person who's team has the best record at the end of the season wins. Just make sure you have tie breaker rules, like head to head record, most points scored in a season, etc. Unless you are okay with multiple teams winning. Well, stayed tuned for some tips for the regular season. Just 2 more months! Mark your calendars, September 7th is the official beginning of the regular season! I even considered starting up another blog, but I don't plan on posting that many articles on football. I may just create a new series here.

Pretty Good Deal, Northwest Miles and National Rental Car. Double Upgrade & 150 Miles Per Day.

2006-07-05T09:14:00.000-10:00

I just got an email from Northwest Airlines, and in it was a pretty decent offer. You get a free double upgrade from National Rental Car and an extra 150 miles per day.Click on the image to take you to the offer. The offer states good until December 31, 2006. Here's the link. Enjoy!

What If Our Cars Told Us How Much It Costs Per Mile?

2006-07-05T09:03:00.000-10:00

What if our cars told us how much each mile costs us almost like a taxi cab meter? Would that make drivers more conscious about how much they are driving? Right now, our cars tell us how many miles we've traveled. The fancier cars tell us how many miles per gallon we're getting, but we don't necessarily associate the cost per mile unless we actually take the amount we spend on gas and divide that by the miles traveled. Even then, we don't see maintenance costs, insurance, etc. added to the picture. What if, our car's console told us how much each trip costed? For example, if we knew: Gas = $3.00 / gallon Car's Fuel Efficieny = 20 mpg Then cost per mile = $0.15/mile If we took a 20 mile trip, that would be $3.00. Add in the return trip, and suddenly your little outing becomes a $6.00 venture. Would that make you think twice about driving? Throw in maintenance and insurance costs, and suddenly cost per mile goes up. I personally would really love to see manufacturers start doing this. It would make everyone much more sensitive to how much they are driving. Of course car manufacturers would have to figure out some way of allowing drivers to input the cost to fill up each tank. Pretty simple fix to raise awareness I think.

How I Streeeeeetch Each Dollar I Spend, v2.0. Improved.

2006-07-05T07:17:00.000-10:00

This is a revised version of my original post, which was, uhh, lacking. I'm critiquing and revising my own post. Sorry you had to click on that. This one is a little better, I think. As always, though, please comment. Of course, my first priority is to try and save, but if I'm going to be spending money anyway, might as well try and stretch each dollar. Everyone has their own tricks on doing this. I'll share mine. There are two categories, regular everyday items and "big ticket" items, over $100.00. For everyday things: 1. Gas, grocery and drug store purchases should be done on a Citi Diamond Preferred Rewards card. You'll get 5% back as "ThankYou" points. One recent change I've noticed is that the 5% back in "ThankYou" points is only for the first year. Instead, you could use the Citi Dividend Platinum Select card and get 5% back cash, up to $300/year. I don't see the first year limitation on that card. 2. Eating out or buying office supplies? Then use the Citi Professional Card for 3% back in "ThankYou" points. 3. Get a "0% APR on purchases" card for everything else. Be sure to consider how much of a balance transfer you might put on this card, or you may not have enough credit to last the entire 0% period. Right now, I'm using an Amex Blue card that's got 0% on purchases until December. Or, you can choose to use a standard 1% back card as well. I'd say go with the 0% cards first though, I'm pretty sure you can do better than 1% over the remaining months of your 0% offer, that is unless you have just a few months left. 4. Tack on AA RewardsNetwork to your credit card! Especially good with the Citi Professional card. Dine program to Citi Professional Card for additional mileage bonus for eating at certain restaurants. You get miles, up to 10 miles per dollar and 3% back! Could equal almost 13% back. 5. Never use cash! Why? You get added benefits for using a card and on top of that they are lending you money for almost a whole month. Sure pennies in interest, but over a lifetime, it could be substantial. 6. And finally, try to buy generics or things on sale. For "big ticket" items, over $100: 1. eBay is your best friend! Search eBay first...you can get a good idea of what price you should expect to pay. Be sure to look at "completed items." This way, you can see what people actually paid. 2. Search, search, search! Google becomes your second best friend. Search for the "Brand + model." For example, "Casio S600." You'll be presented with links to price comparison sites, which leads me to the next point. 3. Use pricewatch.com, pricegrabber.com, and nextag.com to compare prices. Electronics are the easiest things to compare, but almost anything can be compared. 4. Use slickdeals.net, flamingoworld.com, and fatwallet.com. These sites pack tons of great deals, like $30 off $100, 20% codes, etc. Be sure to add their RSS feeds to your reader. 5. Buy with an online merchant that does not charge sales tax! Could be a large savings depending on how much you are spending. Generally, if you see a brick & mortar version of the online merchant in your area, you'll pay sales tax. 6. WAIT. If at all possible. When a deal appears, jump on it. Besides, waiting might make you reconsider your purchase. Do you really need it? Also, if you're interested in free stuff, then check out this site, AbsurdlyCool.com. They only post free things! Pretty cool...actually absurdly cool! Now if only I could use one credit card to pay off another...I'd be getting everything for free (and making some money)! I haven't got into newspaper coupons, yet, but maybe that's next. How about you? Any additional tips on stretching each dollar?

The Orange (ING) That Started It All Is Going Bad

2006-07-05T07:16:00.000-10:00

They pratically revolutionized the online savings frenzy, but now they seemed to have lost focus. The high rates were key to their success, and suddenly with all the competition, they've just seem to have accepted taking last place. I'm pretty dissappointed by ING's recent decisions to lag behind in the rates war. I like the ING site, it's clean and easy to use. But if they can't keep up, then I might have to consider moving almost all of my funds out. The Orange is going bad. There is hope though. If ING doesn't want to play the rates game, then I think they could offer features. Features, like their "Orange Checkings," that they sent out surveys about 1 year ago, would be a good one. I don't think features are as effective as basic rates, but it could be enough. But still, for me, rates were the biggest draw to ING. We shall see. It seems the online banking business is going through a major stage of evolution. I'm guessing that largely due to the explosion in financial institutions offering "online" accounts. Competition is great isn't it?!

Gates & Buffett's Admirable Mission and The Pursuit of Happiness. Happy 230th Birthday America!

2006-07-04T08:23:00.000-10:00

I figured this would be an appropriate post for the 4th of July, since the holiday celebrates the independence of this great nation, which provides its citizens with so many opportunities. "We hold these Truths to be self-evident, that all Men are created equal, that they are endowed, by their Creator, with certain unalienable Rights, that among these are Life, Liberty, and the Pursuit of Happiness." - Declaration of Independence, United States of America, July 4, 1776. "...the Pursuit of Happiness." What is does it mean? To each person, it has a different definition. For me, happiness is rooted in what my dad keeps telling me over and over and over, "Work hard and make lots of money so you can give back. That's how you'll be happy." I think I agree. First Gates announces his slow retirment from Microsoft. Then Buffett pledges a tiny sum of nearly 30 billion to the Gates Foundation. Kudos to Gates & Buffett! Seriously. Even if they had some ulterior motives, I don't care.

What makes this whole thing so awesome is the possibilities. Bill Gates, interestingly coined Bill v.2.0, but I think Bill 2008 would be more appropriate, has been quoted as saying,

There is no reason we can’t cure the top 20 diseases.

I believe it, and even if 5 out of the 20 were cured, that'd be amazing. I'm very curious how the next few years turn out, and I really, really hope I'll be reading more about the Gates Foundation in the years to come. Then I read Buffett talking about why he wants to give to the Gates Foundation and not keep the wealth in the family, he says,

I believe in equality of opportunity...They should not inherit my position in society, based on the womb that they were born from.

He leaves his own foundation and his 3 children's foundations with a mere 1 billion each. Yeah, that's still a lot of dough, but considering 85% of his net worth was donated to charity, that's a pretty darn significant portion! Back to that Buffett quote...it moves me. Why? After seeing things like MTV's Super Sweet 16, it's awesome to know there are folks in the UHNW levels that still hold a sense of integrity. Like what I mentioned earlier about my dad teaching me to give back, seeing two rich guys do exactly that makes me feel, well, good. I don't know how else to explain it. I feel proud that the American Dream has given rise to these two rich guys. Kudo's Bill & Warren! Happy 4th everyone!

Thank You: High School Biology Teacher

2006-07-03T20:39:00.000-10:00

If there's one teacher that standouts above all others, it's my high school biology teacher, BK. I can't name any other class that made me as excited to be in it than this one. His style of teaching and grading...People got A's and A++++++++++'s. Of course some folks still got B's through F's, but the fact that someone could get an A++++++++++ spread enthusiasm like wildfire. When I saw my first grade like that, I was like, "WOW! That's cool." I already liked science, but this sold me. From Darwin's theory to Mendel's law to Sexual Dimorphism to Pig Anatomy to learning that teachers are not all about being serious (ex. various lies you told about your disfigured leg) to the live frog dissection which has scarred me to this day...Thanks! I'll admit, high school had some rough times, but I could count on bio class to inspire me to push myself beyond what I thought I could do. Biology class has helped me become who I am today, and for that, Thank You! To my readers, financially, I didn't learn much from bio class, but hey who learns about finances in biology class? I know this is a personal finance blog, but this is important, and it's personal...so at least it fits that part of the category. :)

How I Streeeeeetch Each Dollar I Spend

2006-07-03T06:41:00.000-10:00

Of course, first priority is to try and save, but if I'm going to be spending money anyway, might as well try and stretch each dollar. Everyone has their own tricks on doing this. I'll share mine. 1. Citi Dividend Rewards for gas, groceries, and drug store purchases. 5% Walmart, Kmart, Target... 2. Citi Professional Card for office supplies and eating out. 3% 3. Use a "0% APR on purchases" card for everything else. Right now, I'm using an Amex Blue card that's got 0% on purchases until December. 4. Tack on AA RewardsNetwork to your credit card! Especially good with the Citi Professional card. Dine program to Citi Professional Card for additional mileage bonus for eating at certain restaurants. You get miles, up to 10 miles per dollar and 3% back! Could equal almost 13% back. 5. Never use cash! Why? You get added benefits for using a card and on top of that they are lending you money for almost a whole month. Sure pennies in interest, but over a lifetime, it could be substantial. 6. And finally, I try to buy only things on sale. Now if only I could use one credit card to pay off another...I'd be getting everything for free (and making some money)! I haven't got into newspaper coupons, yet, but maybe that's next. How about you? Any additional tips on stretching each dollar?

Are Books Overrated? Do You Need To Enjoy Reading Books To Be Rich?

2006-07-02T08:19:00.000-10:00

I'll be honest. I've never enjoyed reading books as a past time, but I've noticed many folks enjoy reading books, especially "wealthier" folks. I've tried to get into it, but each attempt has failed miserably. I've never been able to stay interested...my mind wanders off so easily. Maybe I have A.D.D.? Before you jump on me for even asking such a question, at least hear me out--reading is really, really good, but do you really need to enjoy reading books to be successful? Reading in general is essential, but if you are an avid reader of newspapers, magazines, and the Internet, do you even need books anymore? And honestly, how many of you actually sit down and read books on a regular basis? Or do you pick up an occassional book once a year and read it? I'm just curious, because it seems like a lot of people are into books. Thank [put higher power here] for the Internet! (Just trying to be inclusive)

06.2006 Net Worth [+$5,807.05, +2.99%]

2006-07-02T07:49:00.000-10:00

Theme of this month? Not much. This month would be a good reference point in terms of what I should be able to save on an average month. But I did break the $200k mark, which feels good. Next target, the "quarter million" mark.

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You may have noticed a fairly significant shift from my investment accounts to my cash accounts. I originally wanted to shift a significant portion of my assets into stocks, but with the current savings rates, I'm happy to leave my cash in savings accounts. Yeah, may not be the wisest move, but I like being able to sleep at night. As a compromise, I do plan on shifting my 401k assets into more aggressive funds. Which funds? To be determined. I may expense some stock options next month. Depending on how my company's stock does. I also have a CD expiring, just in time to get that cash into an even higher yielding CD. Next month's expenses: - Auto Insurance premium.

A Major Letdown...Sorry To Those Who Supported Me, I'm Smoking Again. :(

2006-07-01T14:33:00.000-10:00

Sigh. I actually started smoking about 2 weeks ago. I didn't want to post about it because I feel so bad. Even as an anonymous blogger, I feel like I let my readers down. I let myself down too. I got re-hooked by a simple meltdown, a bad day. This is not the end. I will try again.

What's the Single Attribute Most Important For Achieving Personal Wealth and Success?

2006-06-30T10:33:00.000-10:00

What's the single attribute that has helped you get to where you are today? Whether you are a millionaire or millions in debt (hopefully not millions), whether you are in high school or retired. There is no wrong or right answer. Duplicate attributes are fine. For me personally, it's resourcefulness:

Meaning #1: the quality of being able to cope with a difficult situation Meaning #2: the ability to deal resourcefully with unusual problems

I could name a ton of others, but, for me, resourcefulness seems to always pop up as something that has allowed me to excel in my career, schooling, and life. If working smart and thinking out of the box could be combined, resourcefulness would be the resulting attribute. I'll be the first to admit, in a room of academic thinkers, I would look like an idiot. I don't really enjoying reading books--Harry Potter and the Prisoner of Azkaban (3rd book) being the last book I read--although I do love reading articles on the web and newspapers. But put me in a situation where I have to figure out a way to fix it, and I'll give you a ton of possibilities. So if I didn't have the ability to figure out creative ways to solve problems, I would not be where I am today. I'm not great at standardized tests, but I'm really good at hands on, applied lab work. I tend to see things in a way that others don't. Sometimes that makes me the black sheep, but most of the time it has helped me succeed. What about you? What do you think is the single most important attribute for achieving personal wealth and success? Whether you feel you are already there or are working to achieve success. Just one! It's harder than you think. Attribute, Submitted by (linked to blog if available): - Vision, SingleMa - Resourcefulness, Freedumb

Hey Anonymous, Yeah You...Macs Suck.

2006-06-30T08:49:00.000-10:00

Anonymous comments are always interesting. Everytime I see a comment by an Anonymous poster, it gets my juices flowing...is it going to be critical? Is it going to be an outright bashing? Is it going to be something real? I always hope it's the later...something I can learn from. However, I do get comments that make me wonder if they even read my post in the first place... For example, take this comment about my recent post on tip jars:

At 28/6/06 23:14, Anonymous said... i hope you're joking. don't tip if you don't want to. it's really that simple.

Now really, as if I didn't know that. The point is, the tip jar is excessive. It should be put where a transaction is concluded, not where it begins. It's really that simple. Or take this example, in my post on a deceptive 0% offer, I wrote, "Sure it's my fault for mis-reading the offer, but still it just doesn't make sense." So I get a comment:

At 15/6/06 23:17, Anonymous said... It IS your fault. I would not have waived that. You got lucky.

Did I miss something here? Uhhh, I said, "it's my fault." And finally, in response to my post on commercials I despise...

At 21/6/06 10:31, Anonymous said... The Mac commercials are amazing. What I am finding interesting is how many PC users get upset at the Mac commercials? Is it striking a nerve...? Let's face it. Macs are a superior machine. Hands down.

Let me ask you this, Anonymous, what's your goal in posting something like that? To stir up a childish "PCs are better than Macs" war? Hah, please. The proof is in the pudding(?). Just look around...there's a reason why PCs are much more common...and the reason why Macs now share PC hardware. So hah, Anonymous. Take that! :) (Really, I like Macs...)

Friday! Update: 61 Comments, College is CHEAP, Walking Away, and Of Course...The Housing Bubble

2006-06-30T08:43:00.000-10:00

Yes! For many of us US citizens, the long weekend awaits! For those not in the US, hey why don't you celebrate with us! Take the long weekend, tell them Freedumb said so. So let's recap the week...How many savings accounts are too many? It's pretty hard to slip any inaccurate info by the PF Blogging community. Sorry for the slip up with savings accounts, but I did clarify. If you have a dog, plan on getting a dog, be sure to read my story about Brownie and his poop. It's not just about poop. I hate Tip Jars, don't you? Finally, read the dumb perspective on the housing bubble. Now on to the good stuff... LAMoneyGuy suggests we get our "lazy butts up, and start running." I will! As soon as Brownie turns 1.5 years old. :) I have been walking though. Jonathan argues college can be had on the cheap. It's generated a ton of dialog. This is an interesting one by Keith @ Housing Panic. This post has no words, just one image and at this moment 61 comments! Congrats to 2million for having the kahonas to walk away from a closing. Be sure to watch your teens this weekend! They could be texting "Happy 4th" to a few hundred people as SingleMa can attest to. Have a safe and awesome weekend everyone!

Found a Great Article, "Three Things I Did Not Learn In High School (But Wish I Did)"

2006-06-30T08:29:00.000-10:00

I recently found an interesting article written by a local musician turned realtor in Hawaii, Jon Yamasato. In his article he talks about 3 things he wished he learned in high school: 1. Humans generally think in the "now," but need to plan for the future. 2. The rule of 72 3. How to set up a budget (knowing where your money goes). It's a great read. Check it out, and tell him freedumb sent ya.

My Airline Ticket Purchasing Tip = Cheating the System? My Response To a Comment.

2006-06-29T08:51:00.000-10:00

I wrote a post earlier about buying airline tickets, and I received one comment, but it was a good one, from Anonymous:

you actually post tips like this?

I took that comment as sort of a jab at the fact that my post suggests cheating or taking advantage of a site like Expedia or Orbitz, but a comment I appreciate none the less. In fact, so much so, that I'm going to respond in its own post. I definitely don't condone "using" another site simply to, well, take advantage of them. However, I do believe in the mantra, "the marketplace drives all decisions." Even if I didn't post it, I'm sure others have already been doing it. So that being the case, the question becomes, "Is it okay to use _______ travel site for the sole purpose of finding the best price, and then booking it to the airline's site to actually purchase the ticket(s)?"

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To me, the answer is a firm, YES! One of the reasons I blog is to share my knowledge of how I save money, not to benefit an airline or travel agency. If consumers start taking advantage of a service made available on a site like Expedia, Orbitz, etc. and then go and purchase tickets at the airline site, then maybe the business model at Expedia, Orbitz, etc. needs to change. For example, they could charge for the service of finding the cheapest flight. In any event, I definitely don't condone cheating. To me this is not "cheating" the system, as consumers, we are the marketplace for travel sites like Orbitz and Expedia. Thus, if informed consumers start doing this more frequently, than the travel agencies need to make the change, not us. Wouldn't you agree?

What My Dog and His Poop Taught Me About Saving Money...Lessons In Doggie Frugality Maybe?

2006-06-29T06:42:00.000-10:00

Sometimes money saving tips are found in the strangest places...in this case Brownie's poop. But this post is not only about Brownie and his poop. It's about a lot of things I've learned in the past 8 months of raising this little monster that I love so much. What inspired me to write this post? Well, this past Sunday, I took Brownie to the dog park. He ate a branch, and I didn't think much of it. On top of that, I later fed him a pig ear. Two things that normally don't cause any problems, although each can cause bowel irratability by itself, the combo just caused double the irritation. Especially bad when large chunks get swallowed, which happened to Brownie. This led to lots and lots of diarrhea and one instance of puke. I took him to the vet yesterday morning, after 2 days of bad diarrhea (a little blood too), and the vet confirmed, I just have to let it pass. It wasn't a full blown obstruction, because if it was nothing would have been coming out. I was relieved. Later that day, I took him to the dog park and a big pile of $#!+ came out...Never in my life would I have thought that I'd be so happy to see a pile of $#!+. It's like I struck gold...uhhh, black gold? I have to update doggie costs later, but yes, this whole incident inspired me to write about the lessons Brownie has taught me, and how some of them relates to money. So here we go.

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1. Everydog has individual feeding requirements. Theoretically you should be able to see/feel the last one or two ribs on your dog without pushing. Don't cheat here. If you feel more ribs, too skiny, feed him/her more. Feel nothing, feed less and exercise more! 2. Dog parks are great entertainment, and often they are free. Your first time there, make sure you observe the dogs and their interaction. If you see lots of agressive behavior go to another park. Do your part, and train/socialize your dog before going to the dog park. There's nothing Brownie hates more than a trip to the dog park when a couple poorly behaved, aggressive dogs are there. Not to mention some vet charges that might ensue. 3. Branches and wood are fun to fetch, but bad to eat! Related to bad treats, read next point. 4. Treats are great, just ask Brownie, but here are three types treats I would strongly recommend against, because they will lead to vet and cleaning expenses due to poop and vomit stains, and possibly even surgery or death. No joke. These tips would've saved me at least one $80 trip to the vet. - Greenies. Yep, these amazingly popular treats in almost every petstore can become your canine's worst nightmare. Specifically the Greenie bones. Trust me, I have pics to prove it. If your dog chews off big chunks of these things, they can get stuck in your dog's digestive track. Vomitting and diarrhea to follow. If you and your dog are lucky, these chunks will slowly pass through, eventually coming out...just like it went in. They put a tiny warning on their packages, that in my opinion is not enough. On the Greenies.com website, the feeding guidlines say this:

Caution: As with any edible product, monitor your dog to ensure the treat is adequately chewed. Gulping any item can be harmful or even fatal to a dog.

If you've ever "monitored" your dog while they chew something, it's not possible to make sure everything is "aqequately chewed." And "Gulping" can be fatal? Better tell 7-11 stores that...They sell "Big Gulps." Yikes. Greenies DO NOT get my approval. Bad Greenies. - Pig Ears. These can be found in almost every pet store as well. They're better than Greenies, but you have to becareful with these too. The good thing is that you can identify potentially hazardous ears by the way it looks before you give it to your dog. Look for "corners" or "points" on the ear that look extra tough. Cut them off. These parts won't get chewed enough, and even if they do, they still may cause problems. Brownie loves pig ears...I'll still be giving him these, but only after I look at them carefully first. - Rawhides shaped like bones. Rawhides are okay, but the rawhides shaped like bones are no-nos. The ends come off because they are just knots. These knots can be swallowed, and blockage can occur. Stay away from these treats if possible. They may cost you dearly. On top of the stains and pains, it could ultimately end your dog's life. Not worth it. If you don't believe me, or if you've always been feeding them these things, then you may have just been getting lucky, or your dog has some good chewing manners... On a side note, treats I recommend are "bully" sticks, flat or rolled rawhides, steralized bones, Charlee Bear treats, and treats with low sugar content. Stay away from artificial sweetners. Fatty treats are okay for dogs. No fat free stuff. 5. On the topic of treats, most dogs love fruits and vegetables. Carrots, celery, lettuce, apples (watch the seeds!), oranges, berries, and bananas are things that I know are okay for dogs. Stay away from Broccoli (unless you like gassy dogs), Grapes, Macadamia nuts, and Cauliflower. Those are the ones I know about, but do some research. You'd be surprised...some dogs have extremely sensitive stomachs. Of course, never any chocolate! 6. Watch out for foods with corn. Corn is a filler that's found in many dog foods, and can cause allergic reactions in dogs. Some dogs never have problems, but others do. They can form them later in life or right away. Brownie did right away. Common symptoms of an allergy is a skin infection, resulting in hair loss, red patches of skin, and lots of scratching. There's tons of stuff out there! Read the ingredients and decide for yourself. You shouldn't see a filler in the top 5 ingredients. But then again, don't read too much into diets...every dog is different. Some do well on Iams, Pedigree, etc. and some don't. There are tons of articles out there on how bad one dog food is, or how good another is, but the truth is if your dog is healthy and likes it, keep feeding them it. Of course, I do believe dog foods that have less preservatives and synthetic stuff, is better, but that's just me. I don't have the proof behind that. But the bottom line with food is that, once you find something that works, stick with it. 7. Crate train! It'll save you from buying replacement furniture. I have no idea how many $$$ of furniture this training tip has saved me. 8. Be patient. The first few months are the most challenging. I have to admit, after the first few months, I was relieved, but now I wish I spent a little more time enjoying the peeing and pooping rather than being so frustrated. The clumsy, goofy, crazy puppy grows up so fast. Although I must admit, I am pretty damn proud of Brownie graduating 3rd from his puppy class! 9. Take your dog to obedience school. Look for a class offered by a registered non-profit rather than a for-profit organization. Non-profit classes are better because the trainers and other involved are often lifetime pet owners that really are into dogs. They are not out to make a buck. 10. Finally, a tired dog is a good dog. Walk with your dog, take your dog to the dog park, take them to the beach, play fetch or frisbee in the backyard...almost every behavior problem can be lessened or resolved by simply spending quality time with your dog. It'll also keep you from spending money on something you don't need. I never thought I'd learn so much from an animal. When I get a house, I think I'm going to look for another canine family member to join our family. Be ready when that time comes for Poop Stories v2.0. And remember, you can only hear financial poop stories on financialfreedumb.com.

My Home: The Dumb Perspective On "The Housing Bubble"

2006-06-28T09:18:00.000-10:00

Sure feels like I'm still in a sellers market. Just saw a house, looked pretty good...6 days on market, and it's sold. I've written about it in the past...the freaky, scary, world economy ending housing bubble, but let's take another simple, logical view at the housing prices because I just don't understand what's going on. With all this press about housing prices going up, yet the bubble bursting, what's a prospective house buyer or seller to think! Definitely not "buy now!" Right? Let me give you the dumb perspective. Here are the facts, at least relative to my location... - Median housing prices are generally going up. - Average days on market is increasing. - Interest rates are going up. - More "non-traditional" loans are being taken out. There's something there that just doesn't make sense... If interest rates are going up, then less people can afford loans, means less people buying. Thus more homes available, thus increase in the average days on the market..

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Also, folks with non-traditional loans are feeling or going to feel the pinch in a few years. Thus more homes available, thus increase in the average days on the market. More non-traditional loans are taken out because people can't really afford what they want to buy. So far everything makes sense...to me at least. Now it gets fuzzy...what explains the increase in median housing prices then? My guess is, as Alan Greenspan would say, "irrational exuhberance." What do I mean by this? Sellers still think they can get premium dollar for their homes, and buyers are still buying! Buyers are taking out non-traditional loans. If you're telling me that housing prices will continue to rise, you've got to be kidding me! Here's a link to CNNMoney.com that lists the Honolulu, HI as one of the best places to live in 2005. In it, you'll see "Median household income (per year)" = $50,974. You'll also notice "Median home price" = $280,771. Their data must have been from around 2003. That's the only time median household prices were around $280k based on data from the Honolulu Board of REALTORS. Well in 2005, that sites reports median home prices of $590k! Now if we take dumb math, and consider, if the median household income in 2003 = $51k (I'll throw in an extra $26) and median household prices in 2003 = $280k, then in 2005 the median house hold income should have increased to $107k. Uhhh, I don't think so. So, how are people affording these homes? Credit and more credit. That's the only explanation. Folks, we are just setting ourselves up for a major economic slap to the forehead. The sky is falling, the sky if falling! But then who listens to chickens? Am I just being dumb? Or maybe the housing bubble paranoia is the real bubble. Please tell me...I want to buy a house already...I hope I don't lose a few readers because of the advertisment in this post...I love irony.

How Many Savings Accounts Are Too Many Savings Accounts?

2006-06-27T12:03:00.000-10:00

So I'm debating whether to open a Citi eSavings account. On top of that, they have a 6 Month CD @ 5.5%, but I worry that having too many savings accounts hurts my credit and opens me up for more potential fraud. Right now, I have 3 savings accounts, 2 checkings accounts opened. How many savings, and checking accounts for that matter, would you open? How many do you have open? EDIT: I'd like to clarify that it's not the savings accounts that hurt credit, in fact having accounts opened for long periods of time may actually benefit your credit score. Rather it's the hard credit check that sometimes happens, depending on who you are opening the account with, that actually would lower your credit score. Also, to clarify "opens me up for more potential fraud," I mean that having more accounts means more "holes" that could be attacked.

A Horrible Trip To the Car Dealership. I Almost Lost It.

2006-06-27T07:37:00.000-10:00

This story includes threats to call the police, 3 levels of dealership management, key theft, and something very close to extortion. About 4 years ago, shortly after I moved to California (I'm back in Hawaii now), I wanted to buy a more economical car, so I went to look at some used cars at the Honda dealership near my new apartment. As I looked around, I found a used Acura Integra. Manual transmission, fairly low miles, not a bad sticker price, decent condition, and most importantly, more gas efficient than my SUV. I took the car on a test drive, and the horror story begins. I didn't have a plan before I headed into this dealership...I just wanted to "look around." I really didn't think I'd buy anything. I was pretty naive about the whole auto buying process. Never did I think I would go through what I did. After the test drive, I thought, this car is not bad. So I told them, "Yeah, I'm interested." So we go inside, sit down, and out comes the "grid." The first set of numbers are all worked out, and they said the car was $14,500 (or so). I forget what my monthly payments would be. They haven't even pulled my credit yet. Hmmm, not interested. So they asked, am I trading in? I said, "Most likely." They then asked if they could have my keys to appraise my car, and I gave it to them. Didn't think much of it, actually. This was the biggest mistake of the night. Once they invest in looking at the car, coming out with a $$$ value, they will try everything to sell you the car. Well, they came back with a revised offer, giving me something like $17,000 for my SUV, so if I went ahead with the deal, I would leave with another car and a check for $2,500. I thought, "That's not too bad...I wonder if I can get more." Well, now I looked interested. It just got worse. They asked the classic question, "What would convince you to take this car home today?" And I gave them a number, $13,000 for the car, and $17,000 for my trade in. Five minutes later, this "manager" comes out and says, "Sorry, we can't do that, but we will give you the car for $14,000." I thought, "Wow! $500 more dollars. /sarcasm" I still didn't feel comfortable. I made a few calls, and everyone told me, "Don't do it. You can easily find other cars for less." I agreed. I went back, and told them, "You know what? Sorry, but I'm not interested. I'll come back later." Now this is where it gets ugly. The salesman says, "Hold on, let me go and see if we can work out an even better deal." Again, five minutes later he comes back, this time with the dealership GM. The gm says, "It's your lucky day! We need to make this sale happen. We'll give you the used car for $13,000, and pay you $17,000 for your trade-in." Uhhh, salesman, did you not hear what I just said earlier? Some conversation goes on, and they said, "Why don't you think about it." I said, "No thanks, I'd like to go." Continuing to disregard my statements, the guy keeps blabbing away. Finally I said, "Can I just have my keys?" The guy says, "Sure." Twenty minutes later, still no keys. At this point, it's late, and I just want to go home. The gm comes back and tells me, "You sure you don't want to do this? Is there anything I can do?" And I replied, "No, I'd like to go home...where are my keys?" To that he said, "It's coming." Another twenty minutes passes, and at this point, I'm pissed. So I go up to the GM, and said, "Where's my keys?" He said, "It's coming." And that's when crap hits the ceiling. I said, "Listen, I want my keys right now, or I am going to call the police." To that he replies, "I'm getting it right now, just hold on." Already huffing and puffing, I waited a few more minutes. Finally, the salesman pulls me on the side and says, "Look, let's just go in and fake like you're filling out the paperwork, and I'll get the keys, and you just go." I couldn't believe it! Is this really happening to me in a dealership? So we go in and sit down. He grabs the paperwork for me, and I continue to fill it out while he steps away to get my keys. I wrote some things on that form that would not be appropriate for my blog. It was harsh. Five minutes later, he brings my keys to the table. I was relieved to get my own damn car back! Finally, he says, "Just hold on a few minutes until my GM walks away..." I said, "Okay." Then he tells me, "Alright, go. Sorry man." And I leave. That was by far the worst dealership experience ever. This Honda used car dealership is in San Jose. If you'd like to know which one, email me. Anyone else have a horror story to share? On second thought, the dealership was Capitol Honda Used Car on Capitol Expressway, San Jose, CA.

I Hate Those Tip Jars @ [put name of establishment here]! A Rant Letter.

2006-06-26T07:13:00.000-10:00

Dear [put name of establishment here], Everytime I visit your establishment, I see a little jar that says, "tips...thanks!" On top of that, if I pay with a credit card, sometimes I am faced with another line right before the total that reads, "Tip: ___________." Now, don't get me wrong, I appreciate great customer service, but this "tip" thing is just getting a little out of hand. When I buy my coffee, I don't think a simple, "Hi, how are you doing?," "Do you want room for cream?," and "Anything else for you today?" deserves a tip. Come on, I mean I'm already paying you at least 50% margin on what I'm buying! At a restaurant, service entails seating, taking my order, filling my drinks, cooking, bringing my order, cleaning up, desserts...Now that, I think, deserves a tip, but come on, taking my order, my money, and giving me my change back does not deserve a tip. So please, [put in name of establishment here] make it policy to remove these "tip" jars from your stores. I feel bad because some of your employees "expect" a tip, which to me is just ridiculous. Or at the very least, put it by where I pick up my order. Not at the register after you've just taken my money. I haven't even received my order yet! Thank you. Sincerely, Freedumb P.S. (Tips...thanks!) -> ------------END LETTER If you (blog reader) are interested, It's Just Money has a post on tipping guidelines.

If I'm Not Blogging For Money, Why the Ads?

2006-06-26T06:41:00.000-10:00

I wrote awhile back on why I blog, and the conclusion I came to is that: 1. To share my knowledge of finances. 2. To gain insight from others, aka get criticism/feedback, on my financial decisions. 3. To log my financial journey, like tracking my net worth. 4. To hold myself accountable. But none of it includes making money, so why the ads? Well, let me be honest, I do want to make some extra cash if I can. Is it important? No, but it sure is interesting. From choosing ad providers to choosing the layout. What works? What doesn't? It's like a little experiment. So I don't blog to make a profit, but it does add to the incentive to keep blogging. Sorry, I'm not willing to take the Paranoid Brain challenge, but that is an interesting proposition. Maybe when I get bored of it... You probably noticed that I make subtle changes to my blog every so often. If you see anything you don't like, let me know. This blog is a work in progress, and if there was ever a more appropriate to slap the "under construction" tag on something, this blog is it, actually all blogs are right?

Thank You: Dad

2006-06-25T08:19:00.000-10:00

Since Father's day just passed, I figure it would be appropriate that the first in my new series called, "Thank You," is about my dad. Credit to FMF's post "Being Thankful" for kicking my butt and doing something I should've done a long time ago. Where do I start? My relationship with my father has never really been great. He's constantly nagging, giving me unsolicited advice, getting overly angry (tempered), and generally unwilling to accept blame, but everything he does he does with the premise that it's for my good, and although tough to take at times, I guess deep down inside I appreciate it. Even though I don't actually reciprocate the way I should...Hey what would you do if your dad keeps telling you to save your money when that's all I think about! He just doesn't get that. But hey, for putting me through school, giving me the opportunity to travel, teaching me how to catch crabs, giving me the resources to pursue my interests, and giving me, uhhhh, just about everything else... Anyway, breaking through the surface tension like Mento's dropped in bottle of soda, THANK YOU DAD.

The Ethics of Free Refills...Am I Wrong?

2006-06-24T14:18:00.000-10:00

Here's the story. I'm driving by McDonald's, and I decide to go in and buy a drink (24oz). I leave, and then as I make my merry way to my destination, I've realized I've downed the entire cup of Coke. A few minutes away from where I've got to go, and what do you know, another McDonald's. The thought pops up in my head, "Hey when I'm dining in, I can get free refills. Does that mean I can walk in and fill up my cup?" Well, I did. Before you jump all over me for being so cheap, I just bought the soda a few minutes ago... My take, yeah, I should probably buy another drink, but I mean there are no clear spelled out rules on refills right? If I leave the establishment, I know I'm supposed to buy another drink, but it's not written on the walls in McDonald's or anything. What do you think? Am I wrong?

Friday! Update: UHNWI, Reality, a Circus, and Prosper.com Vs. ING...

2006-06-23T07:12:00.000-10:00

When was the last time I posted my Friday! Update? Sorry, I'm not one for routine...I'm very random if you haven't noticed already. That doesn't mean through the course of my "Friday! Update" vacation, I didn't find some great posts... If you haven't read my post on Bullying, please check it out. Also, I've posted my salary...sort of... LAMoneyGuy over at It's Just Money digs deep into the idea of Market Timing. The amount of detail and data that backs his argument is intriguing. Punny Money talks about the 10 greatest money saving inventions ever. It's a great read... Nothing like mother - daughter bonding at the circus...And if SingleMa is writing the post, you know it's going to be exciting...Check it out. If you've ever wondered, "Does Prosper.com make sense?" Then you'll want to check out this post by John @ MBH...Calculation Prosper.com vs. ING. With everything that goes on in PF Blogging, real people exist behind each and every blogger deals with much more than just money, and it's called life. Law's Finance asks a question that many of us ask ourselves everyday...How to find time... And finally, nothing like starting the weekend just imagining what it must be like to be an ultra-high-net-worth-individual...30+ million dollars...oh the pain. Read about how long it will take TraineeInvestor @ A Private Portfolio to accomplish this goal. Have a great weekend!

Updated Doggie Costs. Food, Treats, Salmon Oil, and Glucosamine + Chondroitin Supplement

2006-06-23T06:51:00.000-10:00

I haven't updated my doggie costs recently, but that doesn't mean I've been neglecting Brownie. Dog Food (Chicken Soup for the Pet Lover's Soul): $35.00 Treats (Bully sticks, yeah weird that I just wrote about another kind of bullies): $12.00 Wholistic Pet Salmon Oil (32oz): $36.00 Glucosamine, Chondroitin, and MSM (Triple Flex, For me and my dog actually): $30.00 / 150 pills The Glucosamine/Chondroitin/MSM supplements are good for bones and joints...Labs (and other large breeds) are prone to hip/elbow dysplasia, so I'm giving it to Brownie just in case... Total cost to date: $4,220.79 Updated here...

Got My Auto Insurance Renewal Notice - Saving $164.00!

2006-06-22T08:41:00.000-10:00

Woot! Am I happy when my bills go down. My auto insurance decreased from a $651.00 / 6 months to $487.00 / 6 months. Awesome! Thank you AIG Hawaii. The reason? My speeding ticket has finally been removed from driving record. The actual penalty for the ticket is nothing compared to the pain from the insurance company. Check out how much it has costed me...

How I Found My First "Real Job" and How Much I Got Paid...That's Right I'm Posting My Salary.

2006-06-22T07:12:00.000-10:00

As a fairly recent college graduate starting salary is probably one of the main factors I looked at when deciding what I wanted to study--along with my interests and job availability. I admit it, money was a deciding factor in my degree. Hey, nothing wrong with that...financially, what makes sense? But in the end, money didn't win out. My passion for teaching and a rewarding career is what won out...for my degree...but I ended up in a computer job even after all the planning... Why am I revealing my starting salary? It's my salary from many years ago, so it's not as relevant today (i.e. My coworkers finding out is not as bad). Is it close to what I'm making now? I leave that for you to discover. I can let you know that I currently work one full-time job and hold a part-time job as well. So hah, now figure out my salary.

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Originally, I had wanted to become a teacher. A high school biology teacher. And I will one day! But what eventually happened is completely different from what I thought would happen. Life has its funny ways, doesn't it? I had tons of experience in computers. I worked my entire college career at the university help desk. Not to mention an internship doing various computer related duties, a computer repair job during high school and working a major computer retailer for one summer. The help desk gave me experience with computers and with customer service. I also took computer programming classes. If you can't tell, I enjoy computers. I never intended to make a career out of it though...maybe a side gig consulting or a few projects here and there, but not a career. Well, in my senior year, a friend asked me if I wanted to come along with him to a career day event the following week, and I said okay. I worked on my resume, dressed up a bit, and went to school. We went to the career day event and there was my future employer. That's how I got my first real job--the job I still do today. Keep in mind this was during the dotcom boom. I do software support for a computer company. I graduated with a minor in Computer Science. My major? Nutrition. Starting salary: $61,500.00. My job: Software Support (officially a Software Engineer) This is why I believe that work experience >>>>>>> Your degree. Anyway, there you have it. Why nutrition? A couple of reasons: 1) My scholarship required majors in certain areas, and 2) it was a pre-med program, which offered me another option of pursuing med school if I wanted. Don't send me nutrition questions though, please. Trust me, you don't want my advice. :) I guess in the end, I really went into college pursuing a degree that left me with as many options as possible. I knew the gist of what I wanted, but I don't mind riding the wave per se. I guess I just go whereever life takes me. I don't enjoy support, but it's livable, especially with the flexibility it is providing me. Do I see myself doing it for the rest of my life? No...

Made a Few Changes, "Off Topic: Bullying and How It Affects Me."

2006-06-21T10:04:00.000-10:00

I've made some changes to my original post with additional resources and ways to help. Hope you can sign the petition.

Off Topic: Bullying and How It Affects Me

2006-06-21T07:16:00.000-10:00

Definitely not a financial topic, but one dear and near to my heart. I don't know where to start. Media focuses on kids that go on rampages (ex. Columbine), but we never hear stories about the kid who committed suicide or the kid who grew up forever altered, lack of self-esteem, lack of confidence, lack of socialization skills, forever marred and unable to meet their full potential because they were not picked on, teased by their "friends," etc. But bullying is far more than that, from something as "small" as not being picked to play games, not being included into lunches, or not getting that invitation to a birthday party. When you're young, it doesn't matter. Even the smallest thing feels like a two ton rock falling on you. Just Google, "Bullying & Suicide," and you'll see stories that will open your eyes. Read this story about Ryan Patrick Halligan. Watch Ryan's video. He was victim of "cyber-bullying." Or Jared Benjamin High who was a victim of bullying at school. For both, life ended MUCH too early. As I get older, I realize bullying takes a whole other form typically stereotyping, plain old arrogance, inability to accept other people for who they are. As adults, we generally don't pick on individuals anymore, but rather we bully a group, a personality trait or something we don't agree with. We argue, not for the purpose of bettering each other, but to win, to make the other a loser, to belittle the other side. We forget that not everyone understands, not everyone is blessed with the same brain, not everyone is as experienced. We can only hope to educate and grow together. Maybe this seems foreign to you, or you can't imagine it being that important. If that's the case, I ask you to take a look at your childhood, were you on the other side and didn't even know it or right in the middle between "cool" and "not cool." Are you where you are today, maybe because you were on the other side? Maybe you had a group of friends that made you feel accepted? Maybe you just never noticed the fat kid, the nerdy kid, the different kid? Maybe you were blessed with a strong mind and never was bothered...but as kids, I know the vast majority just want to fit in. Play, have fun, make friends... If you're a parent, I urge you to look at your child. Regardless of whether they are the victim or the offender, to address it and help your kids understand the damage done. I count myself as lucky, but even today, almost 30 years old, far removed from the lunch bells, cubbie holes, and P.E., I still have memories, memories that hurt. It shapes who I am today, and guides every decision that I make. I try everyday to include, not exclude. I survived, but growing up shouldn't be about surviving, especially in society today where we have so many luxuries. Maybe we just need to remember. If you need someone to talk to, I'm here, financial.freedumb [at] gmail.com. If you need more information, here's a start...American Academy of Child and Adolescent Psychiatry - Children and Depression. There's tons out there though. If you want to contribute to the cause...Here are a few organizations that you might be interested in tolerance.org or bullypolice.org. Finally, sign the Federal Anti-Bullying Laws Petition.

Plan Z. What If I Lost My Job?

2006-06-20T08:12:00.000-10:00

I recently wrote about how I would meet my 2006 goal, or probably not meet my goal would be the more appropriate description, but what if everything went south, and for whatever reason I lost my income source, my job. What would I do? I'm not sure...I've thought about this a little, but it's a serious question. Am I emotionally prepared to handle it? Financially prepared? What are my backup plans? Financially, I'll be okay. I have enough funds to last awhile, but if unemployment lasts long enough, it will eat away at my funds for my future home. Frugality takes on a whole new meaning. Emotionally, I think I'm ready. I don't particularly enjoy my job right now, and have been thinking of other things I could do. But the truth is, I'm not really prepared for it. How would I gain a new income source? Can I find a new job? Should I go back to school? Here are some ideas I have should I lose my job: 1. Start my own business. I do have some ideas that I've just never pursued fully. Including an online business selling various items from Hawaii. 2. Go back to school. I've thought about this one a few times too. I do want to pursue an MBA and/or a degree in secondary education. 3. Teach. Something I've wanted to do since my high school biology class. 4. Join the Peace Corp or AmeriCorp. Actually this is one idea that I would love to do. It'll become much more difficult as I have more responsibilities, so I could consider this something to do ASAP. With a family, house, dog, etc. it would be much more difficult to leave. What would you do if you lost your source of income?

Free "Avoid ID Theft" Kit

2006-06-19T21:43:00.000-10:00

Okay, this is interesting...I have no idea what this kit includes. From the site:

FCIC is the help desk for everyday life–and we'd like to help you! Avoid ID theft with a FREE package of publications about credit and identity theft. The package includes publications on credit reports, credit scores, preventing identity theft, and more. To get your FREE ID theft package and a FREE Consumer Information Catalog listing more than 200 valuable consumer publications, just fill in your name and address below.

http://www.pueblo.gsa.gov/rc/specoffr.htm I just signed up...will post more details when I receive it in 4 weeks. I never heard of a government agency with the acronym "GSA" actually.

Buying Airline Tickets? Why Airline Sites Have Made Orbitz, Expedia, etc. Obsolete.

2006-06-19T07:54:00.000-10:00

If you're buying airline tickets and have been buying them from sites like Orbitz.com and Expedia.com, read on...

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Sites like Orbitz do provide the convenience of being able to shop multiple airlines at once. You can also add hotels, car rentals, etc. But prices are always higher at these sites due to the convenience fees. If you want the best deal shop the airline's website. I have yet to find a cheaper flight on the travel site, but hey I could be wrong. Find out for yourself...check out one of the sites and compare. This could be a secret sites like Orbitz and Expedia don't want you to know, but if you find a date you like, go to the airlines website, and purchase your tickets there...I bet the price will be the same minus the convenience fees! On top of that, you can find some additional deals only available through the airlines websites, like $xxx off deals, last minute specials, and bonus mileage. So there you have it...I do not own any airline stocks.

Commericals That I Really Enjoy...Priceless.

2006-06-19T07:45:00.000-10:00

Commericials should convince you to buy. For whatever reason, whether you just like the few seconds of entertainment provided, the value of the product, the principle behind the company, whatever it might be, the commercial should "sell you." I wrote about commercials I despise...this time, I'd like to write about commericals I've enjoyed. Southwest.com - Funny and/or gives me useful information. Mastercard - Priceless commercials really hit home for some reason. Well done IMHO. American Express - The one by M. Night Shaymalan was really good. I liked it. Almost like mini movies...great idea. Probably not as effective, but entertaining. McDonalds - Always positive, puts a smile on my face. Toyota - I like Nissan automobiles, but I got to admit, those Toyota truck commercials work. The meteor-proof, resilient trucks... Vytorin - Yeah, I really like these commercials. They are educational and catchy.

Carnival Of Personal Finance - Special Birthday Edition

2006-06-19T06:37:00.000-10:00

Check it out over at Consumerism Commentary! The first birthday of the COPF.

Commercials That I Despise...Grrrrrrrrr.

2006-06-18T16:31:00.000-10:00

For the most part TV ads are entertaining, especially since the superbowl ad craze began anyway. However, some just, well, piss me off, and make me want to boycott the products rather than support them. I especially hate ads that promote consumer ignorance and/or play to the uninformed consumer, put down other companies, don't tell you what they are selling, are plain old pointless. Here are some of them... Apple - The recent ads with the Mac and PC guy just stirs up some real bad feelings. I'm a PC user, so of course, you can say that that is the reason why, but I've never held resentful feelings towards Macs because I always thought they were good computers too. They do especially well in certain areas. Now that Apple introduced these commercials, I am an Apple hater. I can honestly say I will never purchase an Apple product for life since they want to stereotype PC users so considerately. Pepsi - I am just bothered by the commercials where the Coke can gets smashed. I'm not sure why. Sympathy? I will go out of my way to look for Coke products now. Burger King - The one with the "bucking chicken" just irks the hell out of me. What is that? Not to mention the disturbing "king" dude. Volkswagen - That new one with the "fast" devil dude...disturbing and irritating. On the flip side, there are commercials that I really like...I'll post on those later.

Kiplinger's Subscription, 3 Years, For $5.00!

2006-06-18T14:40:00.000-10:00

This is a pretty good deal...I've never read Kiplinger's too much, but I always see them referenced. Go ahead and subscribe! You'll need to use the discount code to get $40.00 off...not too shabby. Regular subscription for 3 years costs $44.91, or $1.24 per issue, instead you pay $0.14 per issue. When you look it that way, WOW! If Entrepreneur Magazine is more your taste, that's $6.00...just use the $30.00 coupon. Not sure when this expires...so hurry. I'm not sure if you can get both magazines.

How Am I Going To Meet My Goal? Part 2

2006-06-18T14:29:00.000-10:00

I needed to think about this more. Earlier this week I wrote about it, but it deserves more thought than that...Let's say on average, I save a conservative $4,000.00 a month, $5,000.00 less than what I need to save. The actual amount doesn't matter, the bottomline is I need to figure out a way to turn less money into more. This means, I'm going to hit $65,710.00 out of the $100,000.00 goal I set. How the heck am I going to actually hit $100,000?!?!

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In my original post, I said:

I am planning on: - Reshifting my 401k investments into an aggressive fund towards the later part of this summer. - Cutting expenses. - Sell some stuff on eBay.

But what does each mean? Reshifting my 401k investments into an aggressive fund. Well this one is pretty self expanatory I think. Cutting expenses. Alright, how am I going to cut expenses? Well, for one, I'm going to eat out less. I'm going to have to focus on buying groceries to make lunch. Cut back on the smoothies and coffee. Instead of Starbucks, I'm going to McDonalds. Like my philosophy on loosing weight, which is to cut back, not completely change the diet. For example, if you're making dinner, take your normal choices and portions, then put some back. Sell some stuff on eBay. Hah, this is going to be fun. I have so many junks in my place. I might soon need a waterfront property to store it. ;) I've also gone ahead and reviewed My Luxuries. Unfortunately, I can't cut out much there...I can't give away my dog. So don't even suggest that! :) I could cut my Blockbuster.com subscription, but the amount I save because I don't go out exceeds the amount I spend on the subscription...I already minimized from the 3-out to the 2-out subscription reducing the fee by about $5.00/month. I could start getting real drastic, but at this point, I don't think that's called for...yet. Don't worry, I'll warn you when I start re-using underwear.

My Home: Finding a Realtor...Or Not. Buying a Home Myself.

2006-06-18T12:29:00.000-10:00

I recently wrote My Home: Finding a Realtor, and I thought, "Wait a minute, why do I even need a realtor? Maybe I can do this myself?"

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Why would I want to do that? Well, I wrote the main factors I'm looking for in a realtor, but the fact is, how do you find a realtor that's "trustworthy?" I have no clue...It's hard enough finding true friends, nevermind a friend in a specific industry. That brought about the thought, what if I just buy on my own without a realtor. From what I've been able to find, it is possible, but does it make sense? Maybe. If you're really good at negotiating, then maybe you can negotiate the price down half of the commission normally reserved for the buyer and seller agents. And if you have resources, like a real estate lawyer and a mortgage broker. Might be nice to have some experienced folks in real estate just for advice too. Here are some links I've found... http://www.fsboamerica.org/found.cfm http://www.mynippon.com/lifestyle/buy-realtor.htm http://www.ehow.com/how_5847_decide-whether-buy.html http://www.fool.com/homecenter/find/find01.htm http://www.paradoxpro.com/homebuying.html Bottom line, it depends. For most situations, as a buyer, getting an agent is probably better. I say probably because it's largely dependent on your skills as a negotiator and how resourceful you are.

My Home: Finding a Realtor

2006-06-17T17:24:00.000-10:00

So I'm beginning the process of finding a realtor. I've asked my friends and family for references, including a few folks I've met on my own. My main concerns for a realtor are: - Honesty and openess. I want one that is willing to disclose full client list, and is willing to disclose previous transactions. - Short client list. Proven transaction history. I don't want to be at the end of the list when a listing comes that fits my needs. - Patient. My realtor must be able to tolerate my personality. I like being updated and being able to contact my realtor without the feeling of pestering them. - Trustworthy. If I'm willing to disclose my income and my personal goals with this person, I hope that the same can be reciprocated. I don't want a realtor that would hide a good deal so that they can benefit from it. - Full time realtor. I've contacted a few realtors to setup appointments. Hopefully within a month or so, I can have someone to call on should I find a property that peaks my interest. On another note, I just thought, what if I don't get a realtor at all? Buy on my own? Is there any benefit? Look for a post in the future...

Talk About a Swing! DOW 1.83, S&P 2.12%, NASDAQ 2.79%

2006-06-15T10:46:00.000-10:00

Just when I thought things were looking dreary, two strong days of gains in the broad market! Well, well, well...some positives make me feel a little better. Now to wait for the official fed moves and 2nd qtr earnings news. That should get me set...to invest or not.

How Am I Going To Meet My Goal? $63K Left To Go!

2006-06-14T11:53:00.000-10:00

Jeez, I'm way off target. At this rate, I'll need to increase my monthly networth by $9,000 just to meet my goal! Yeah, ummm, highly unlikely. So what am I going to do? Well, I do want to shift my assests into more aggressive investments, but right now is just not the time for me. I do not feel comfortable making the jump at this moment. However, by the end of the year, I do feel I may make the move. With inflation worries, lower earnings expected in second half of 2006, housing worries, it just doesn't seem right right now. I may just shift my retirements assets to more aggressive funds and leave my non-retirment money alone for now. So really, I probably won't reach my goal. So the alternate plan? Save as much as I can. Hopefully I can hit at least 75% of my 2006 goal. I am planning on: - Reshifting my 401k investments into an aggressive fund towards the later part of this summer. - Cutting expenses. - Sell some stuff on eBay. I hope this market stabilizes soon. I want to make my next move already! Patience is the key word...and that's gotta be one of my worst traits.

Suddenly I Am a Genius! I Didn't Invest Last Month...

2006-06-13T11:08:00.000-10:00

The market is hurting, and procrastination has made me feel like a genius for a day or two...That's odd. :/ I planned to do a major asset re-allocation just last month, but didn't. Mainly because I didn't do enough homework to determine what to invest in. Well, come June 13, the market has taken a dive...although my proposed stock investments, would have still only lost 1.22% or $583.00. Now the question is when to get back in. I'm thinking I may just shift my retirement investments to more aggressive investments rather than investing my cash.

Step Right Up. Get Your Degree! We Offer 30 Year Loans Too!

2006-06-13T06:59:00.000-10:00

Having a degree is supposed to increase your earnings through your lifetime by one million dollars. Not bad right? Well, not if you graduate with a six digit loan. In an article on USAToday.com, a graduate student, Palazzolo, graduates from Rutger's University with $116,000 in loans. Absurd! Another example taken from the article:

Angela Schneider, 26, graduated last year from Simmons College in Boston with a master's degree in social work and $118,000 in student loans. To make her monthly payments of $800, Schneider has taken on a part-time job providing in-school therapy in addition to her full-time position as a medical social worker. She's living on a tight budget that allows her $70 a month for entertainment.

Granted these folks are graduating with a Masters, but still. $70 monthly entertainment budget?! For how long? And finally:

Routsong decided to return to school to get her master's degree as a nurse practitioner. She looked into nursing programs at several community colleges. All had two- to three-year waiting lists. She entered an accelerated program at the University of San Diego, a private school, that will enable her to get a master's in three years. She's borrowed $65,000 and expects her loans to top $165,000 by the time she graduates. Her student debt, she says, occupies a place in the recesses of her mind.

That last line just gets me. It occupies a place in the recesses of her mind? Like an afterthought, when it should be one of the main issues BEFORE deciding what to pursue. If it doesn't make sense, like in this case, to me it doesn't, then I think you have to formulate another game plan. If this is really what she wants to do, then there are others ways to do it. I'm not saying it's easy to find other ways, like getting your company to help pay for some of the expenses, but it's possible. USAToday.com Blogs has some interesting comments...One day, I hope my blog has this much reader interest! Hah. Bottomline: "Go to the best school (with the best program of study you're interested in) that you can AFFORD."

Housekeeping Done

2006-06-12T15:53:00.000-10:00

I mentioned housekeeping about a week ago, well, unfortunately, some blogs are being removed. It's sad to see these blogs removed, but if the authors are still reading, I wish them the best! If you come back, please let me know.

Waterfront Property From $100/Month In Hawaii and Get Your First Month Free!

2006-06-12T07:33:00.000-10:00

It's a "studio." Just need to add your own bathroom, kitchen, and other living necessities...oh and no windows from your "room." :) Okay, I understand people want to store stuff. They are willing to pay to store extra stuff (Stuff they will probably never see or use in their lifetime, in my opinion). As Everybody Loves Your Money points out, "Paying to Store C-R-A-P." Well this one takes the cake, a beautiful location, over looking the ocean, close to the beach is becoming a, you guessed it, self-storage location! Check it out. This is not the only one to take prime real estate in Hawaii btw, there's one close to a major mall and concert hall opening up, there's one by the University, there's one right smack in the middle of downtown. I need to open a self-storage location up! Talk about passive income.

My Home: If You Believed Housing Prices Would Come Down...What Would You Do?

2006-06-12T07:10:00.000-10:00

If you believed that housing prices will come down within a couple years, but you found a pretty good deal on a house at the right price, would you go for it? Or would you wait? I've heard lots of arguments. It's an investment, and you can't time the market. There's only so much land, prices will always go up. And many more... Or, would you hold out until a specific date? In my situation, summer 2007. After thinking about it, I've come to the conclusion that sometimes that saying opportunity comes once in a lifetime leads me to make decisions that are not always in my best interest. The fact is opportunity is always there, you just have to find it. I'm going to hold out. I can accept my decision should housing prices go up, but I think I would have a harder time accepting if I bought and prices went down.

Gonna Do Some Housekeeping. Cleaning the Blogroll.

2006-06-06T11:59:00.000-10:00

I'm planning on doing some blogroll housekeeping. I wish I could keep everyone on the list, but it is a little long. My plans are to remove blogs that have not been updated in the past month when I check them. I'll post blogs that have been removed. If you want to be added back on, just let me know.

My Home: Prepping My Credit Score

2006-06-05T13:35:00.000-10:00

One of the first things you should do as you embark on the journey of buying a house is getting to know you're credit score. This will tell you if you are on track to get the best rates available. A score of 720 and above is considered to be in the upper tier, based on my meeting with the loan officer at my credit union, and you should have almost no problems getting the best rates with a score like that. I'm not sure if there are even better rates to be had if your score is, say, 800+, but it doesn't hurt. I'm know my Experian credit score is 762 right now, but I'm not sure about the other 2 credit agencies. My credit union told me that they take the 3 scores, and look at the middle score as the one they use to establish my loan. I'll have to work on that. In preparation, I've decided to limit my credit inquiries to only essentials. This means no more 0% credit cards for awhile. I'm also targetting January 07 as when I'll pay off a majority of my credit card debt, which is at 0% right now. One credit card has 0% set until midyear 07, so I won't pay off everything. My main goal is lower my debt to credit limit. Too high of a ration, hurts my credit score. So far, that's my only plans in place. I'm not sure if I'm going to be able to resist a two year 0% offer though!

Do You Know What To Do With Your Money When Retirement Comes?

2006-06-05T09:48:00.000-10:00

All this talk about saving for retirement, but no one really talks about after you've saved your money, then what? Do you take out one big lump sum? Do you take out a couple percent? This article Know when to break the retirement investing rules, USAToday.com, has some specifics on what to do...First two are known, but the last one struck me as most interesting...First two being:

1: You'll need 60% to 80% of pre-retirement income to keep your current standard of living once you retire.

2: Tap regular accounts before tax-deferred ones in retirement.

Here's the last suggestion...

3: Withdraw 3% to 4% of your portfolio a year, then adjust upward for inflation.

I never really knew the specifics of how much to take out...A specific amount puts the other suggestions into perspective.

How Do I Grow My Net Worth Without Revealing My Income...

2006-06-02T10:08:00.000-10:00

This is going to be tough...I don't want to reveal my income for various reasons, the biggest being the potential discovery of who I am by my work colleagues. I just posted my net worth, so I figured it be appropriate to discuss how I save...without revealing my income. - I live with my parents. Yes, in Hawaii, it is not uncommon to see many generations under one roof. It's just the style of living here. Thus my expenses are limited--gas, mobile phone service, cable, auto insurance, etc. I don't pay rent. I've offered... - I work from home, thus my gas and maintenance costs are very low. - I am pretty thrifty always looking for the best deals. However, I do go on an occasional splurge, as demonstrated this month. I restrict my splurge purchases, or try to anyway, to things that I've wanted for at least 6 months. I also buy things on sale if at all possible and practice the art of tease shopping. - I use my credit card for all purchases, rarely using cash. This saves me close to 1% on almost everything. - I eat out at places I find coupons or there are specials at. - I like to do "free" entertainment activites like fishing, going to the beach, taking my dog to the dog park... Some areas I need to work on: - My investment growth. - Eating out less. - Spending...who doesn't! So there you have it. How I save without revealing my income.

05.2006 Net Worth [+$3,287.72, +1.72%]

2006-06-02T09:27:00.000-10:00

The theme of this month? Getting over my luxuries. Coming out positive is good, but considering the percentage, I'm way off target to hit my goal for the year. This month was a month of expenses: - Additional expenses for airfare. - A couple new toys, as detailed here. Including a new fishing reel which was not mentioned. - A fair amount of driving this month, meant more spent on gas. I also shifted a bunch of cash from my savings to my investment account. It's not invested yet, but will be soon. Read my posts on asset reallocation. June and July should be a good months. No unusual expenses expected, however, August is going to be bad.

Your ID Is Stolen. That Sucks. Now What? 9.3 Million Victims.

2006-06-01T09:12:00.000-10:00

Hope this never happens to anyone, but what if it does? How will you know? What do you look for? Who should I call if you think something is wrong? Tons of articles advising you on what if your credit is stolen telling you to call your credit card companies, credit bureaus, banks, etc. But what if you think you're just being too cautious? STOP. You can never be too cautious. Here are the steps I take to prevent my ID from being stolen: - I use the government's gift of a free annual credit report. And take the time to look through your entire history to make sure nothing seems out of the ordinary. Your credit report will often contain numbers to the reporting financial company, so call them if you have any questions. - I monitor my online account activity on a weekly basis. Credit cards, banks, investment, etc. I try not to let anything slip. - Don't submit your financial or personal information to any sites linked from emails if at all possible. - Discard personal information securely. Shred, burn, destroy all personal information. I've debated just throwing things away, and I admit, I do sometimes. When I get lazy, I'll rip a credit application in about 6 pieces and throw some of it in one trash can and the rest in another. - Call my financial institution whenever there's a question mark. Should I find something suspicious, I would immediately track down exactly when and where that happened, and then take the appropriate steps to stop it. Here are some quotes taken from an article on msnbc.com:

Study results indicate that consumers who spot fraud online suffer an average theft of about $500. Consumers who wait for paper records and suffer ID theft suffer average losses of $4,500.

So monitor your credit card and online account statements! So your ID is stolen...now what?

Also promising, she said, was a result showing average consumer time spent dealing with personal records cleanup from ID theft is now 28 hours, down from 33 last year.

Do you have 28 hours, which probably doesn't account for everything, to talk to someone over the phone explaining to them that you are, well, you? Remember,

"The fact is that nobody is more effective at preventing and protecting fraud than the individual," he said.

Here are some references in case ID Theft strikes you: http://www.consumer.gov/idtheft/ http://www.complaints.com/directory/2004/april/18/11.htm http://www.msnbc.msn.com/id/6866768/ http://www.ssa.gov/oig/hotline/when.htm http://www.usdoj.gov/criminal/fraud/idtheft.html http://www.ftc.gov/bcp/conline/pubs/credit/idtheft.htm And you may be interested in Credit Monitoring services. Also, check out this post by Frugal @ My 1st Million At 33.

What To Do With All These Receipts?

2006-05-31T09:09:00.000-10:00

So sitting in a shoebox sized box next to my desk are all my receipts over the past few months. I usually shred them, but that takes way too long although my dog loves chasing each set of papers I send through the shredder...Trying to rip a piece of the paper before it makes it in is like a game for him. I tried making a fire, but that's just too much of a mess and takes too long. Maybe I should just put all my receipts in Brownie's crate so he can rip them apart. Haha...That's an idea I never thought of. Seriously, what to do? I'm debating just tossing them in the trash. I mean they only have the last 4 digits of my credit card number now. For expensive purchases, I've been scanning receipts and storing them on my computer. So much less clutter...well I still end up keeping the paper receipts lol. I guess my thinking is that since I'm so disorganized, the chances of finding my receipts are greater by having them in two locations. What do you do with your old receipts? How long do you keep them?

My Home: Why Not Move Someplace Else?

2006-05-31T09:03:00.000-10:00

How much is living in a certain location worth? The weather, the people, the culture, the activities available, the neighborhoods, the schools, the history between you and the place you call home...how much is it all worth? In my post, "My Home: The Budget Is Set" SingleMa makes an interesting comment:

Depending on where you live, you may not have a choice, but my first thought when I read this post is...Dang, that's a lot of money to spend on your first house!!

Yes, it is a lot of money, and I do have a choice. We all do right? What if I moved to another island? What if I moved to another state? What if I moved to another country all together? In the end it does come down to how much home really means to me. I couldn't imagine moving away permanently. And it's not that I haven't tried because I have lived away from home for 4 years. I've been there and done that. So I do have a choice, but my choice is to stay here. It's my home. My friends, my family, the people, and the food! Priceless.

My Home: The Budget Is Set

2006-05-30T07:58:00.000-10:00

Taking a deeper look into my future home purchase, I realized I need to think about specifics...the financial specifics. I wrote about my realistic dream home earlier, but with my current income and savings, what can I really afford to purchase without affecting my standard of living, my emergency fund, and being able to fund home improvements and other fees associated with home ownership? Considering my current liquid assets of about $100,000, I'll make an assumption that I can save about $30-50k more in a years time--when I plan to purchase. This is less than my current year-end goal of $100k, but I'm going to assume I don't make my goal to be conservative. This means I should be able to comfortably afford a downpayment within the range of $110-130k. This would leave me $20k of cash on hand. One of my requirements is a 20% down payment, so the homes I can purchase would be $550-650k. In Honolulu, HI, that doesn't leave me much to choose from. During my prequalification, I was given the okay to purchase a home up to $700k with a $70k deposit assuming I use a 80/10/10 loan. 1st Mortgage: $560,000 (30yr fixed) 2nd Mortgage: $70,000 (15yr fixed) Deposit: $70,000 There's no way I'm going to do that. In some ways, I wish I didn't see this loan because it makes the "bad decision" even more possible. So the bottom line is I know the price range of homes I can afford, which is $550-650k. I'm going to stick to this range. Unless some ridiculous mansion is available for 800k...then maybe I'll stretch.

Memorial Day: A Bittersweet Holiday

2006-05-29T06:51:00.000-10:00

To our fallen heroes who fought for our freedom, thank you. To the men and women today who are fighting this same battle, thank you. This holiday goes beyond just recognizing Americans, but also our countless friends in other countries who have given their lives and those that are still fighting today for this thing called freedom. Today, I would like to pay tribute to a friend of mine who passed away on January 22, 2005, Nainoa K. Hoe. Rest in peace, Nainoa.

Nainoa K. Hoe R.I.P. 1977 - January 22, 2005

My Home: A New Series On My Home Buying Journey.

2006-05-28T21:37:00.000-10:00

I've decided to start a new series called, "My Home." In this series, I hope to detail the steps I'm taking to purchase my future home including anything and everything I learn along the way like researching other bloggers posts, online house hunting, the mortgage process, including mortgage rates and closing costs, and whatever else I have yet to discover. This is my first home so everything I learn is new. I've written posts on my ideal practical home, some classes I've taken on the purchasing process, pre-qualification, a 'home buyer's checklist,' and the role of the realtor, but everything is disorganized, and I think it would be beneficial to record the process for my future reference and for my readers. For all posts in my series, just click here. Without your input, this endeavor would be pointless, so please criticize and comment, good or bad, on anything and everything. That's one of the awesome benefits of blogging, reader participation.

An Argument FOR Standardization...

2006-05-24T13:57:00.000-10:00

...of mobile phone chargers! Please! On a side note, standardizing everything to metric might be a good idea of the US. The impact on US productivity from the confusion and difficulty of converting ounces to milliters and feet to meters is probably never going to truly be known, but I can put a bet that if we, the United States, ditched "Standard" measurements, we'd not only gain productivity, but our global competitiveness would increase tremendously. Not to mention the productivity of the world would improve! And throw in the $$$ it would save me because I don't have to buy 30 different sets of tools! We can dream...Oh and back to the phone charger, I could use the same one I bought 5 years ago today! It'll cut down on waste.

Gas Thieves Strike My Neighbor!

2006-05-24T13:11:00.000-10:00

Gas prices are rising, but come on, siphoning gas from a car parked in their garage? If your vehicle does not have a defense against gas thieves, let me recommend getting a locking gas cap. On top of the fact that these folks are stealing gas, from reports I've seen on the news last night, they also leave some nice scratches on your car at the same time. How nice.

You Want To Make Money? Then DO NOT Follow My Advice.

2006-05-23T07:25:00.000-10:00

Really, it's that easy, if I say buy ABC. Sell it! If I say sell XYZ, buy it! That's usually the case when I invest. Trust me you could make fortunes by doing exactly the opposite of what I do. Everytime I decide to sell or buy stocks, the stocks usually do exactly the opposite of what I expected. For example, take Sony (SNE). I bought at around $35.00, held on for over a year, and finally sold in Dec 05 @ $36.00. Immediately after I sold, SNE shot up to $50 in 2 months. Another example, Hawaiian Airlines (HA). I bought HA in Jan 06 for $3.50 and sold about a month later at $3.40. A loss. Just 2 months after I sold, HA shot up to $5.00! Now let's hypothesize about my asset reallocation plans which were scheduled to occur on May 1 but didn't...had I bought 100 shares of each stock...Would my normal investment trend hold true? I would not be shocked to find out that I would have gained 10%. Or would my luck be changing and my portfolio be negative? Highly unlikely. For the sake of simplicity, 100 shares of each stock is much easier than calculatting the same dollar amount of each stock...so here goes... today's value / # shares / $amount / may 1 value / $change / (%) IBM 80.02 May 22 100 $8,002.00 81.93 -$191.00 (-2.33%) RTN 46.11 May 22 100 $4,611.00 43.69 $242.00 (5.54%) VZ 30.79 May 22 100 $3,079.00 32.81 -$202.00 (-6.16%) WMT 47.35 May 22 100 $4,735.00 45.77 $158.00 (3.45%) GE 34.07 May 22 100 $3,407.00 33.89 $18.00 (0.53%) MMM 83.73 May 22 100 $8,373.00 80.97 $276.00 (3.41%) DD 42.38 May 22 100 $4,238.00 43.30 -$92.00 (-2.12%) PG 54.28 May 22 100 $5,428.00 56.60 -$232.00 (-4.10%) JNJ 59.86 May 22 100 $5,986.00 57.91 $195.00 (3.37%) Hold your breath! I would be up $172.00 (0.36%). But wait, subtract commissions, (9x$7=$63), and my gain would be $109.00. Wow! Had I invested, my luck would have changed! Rrrright, just hold on until next month, when I check it out again...Oh, I'll probably be down a couple grand. Hah. Wow, $1000 on black please! Place your bets on red! Trust me. :)

Who Still Uses Paper Checks?

2006-05-22T09:24:00.000-10:00

I hate going to the supermarket and then finding out someone is about to write a check. It takes about 5 more minutes than a regular transaction! Grrrr. To that person who made me wait 5 more minutes in line, use your ATM/debit card or your credit card. Please. Credit card would be the wisest...especially if you get rewards. You can avoid any fees and get a discount! And while we're talking about checks, I hope you use your online bill payment service that's offered to you by your bank probably for free. You will not only save money because you no longer have to buy checks, but you will not have to use your own stamps! /rant :) On a side note, who still uses cash? I've been quite busy this last week, but hopefully this week I will have some time to catch up with blogging. Hope you all had a good weekend!

Asset Reallocation Setback...What To Do, What To Do...

2006-05-18T08:37:00.000-10:00

Well, I had originally hoped to reallocate my assets on May 1. Unfortunately, or fortunately, I wasn't prepared to move my funds around. Fortunately because the stock market has been taking a beating in the last few days. I guess you could look at it in two ways, a buying opportunity or not. I tend to believe the market is set for a fairly large downward turn because I believe inflation is real. Gas and metals are going up...way up. Not to mention the hurricane season coming up, which will add more pressure to many industries, agricultural included, meaning higher crop prices. Plus the housing industry is seeing a downturn. Add the tension in the middle east, and you've just got tons of things pointing to disaster. Being a financial pessimist at this time, I feel like waiting it out for awhile. I did move money into my investment account, but I may just wait a little longer. With inflation comes the possibility of the feds increasing interest rates a full point? Wow. Anyway, I'm in no rush...Right now, I feel happy I'm not exposed to the market volatility too much.

WARNING: Phishing Alert - ebay.com

2006-05-17T13:27:00.000-10:00

This one is pretty well done. With links that even point directly to ebay auctions. The one button that says respond now points to the fraudulent server. If you're bored, give em some false info. This site looks exactly like ebay! X-Message-Status: n:0 X-SID-PRA: support@ebay.reply7961.com X-SID-Result: TempError X-Message-Info: LsUYwwHHNt0fdbDltJXe6jj1gZWCO8ibYLZqUB1oUFg= Received: from u62-13.u203-187.giga.net.tw ([203.187.62.13]) by bay0-mc9-f14.bay0.hotmail.com with Microsoft SMTPSVC(6.0.3790.1830); Wed, 17 May 2006 06:21:24 -0700 Delivered-To: Received: (qmail 8260 by uid 452); Wed, 17 May 2006 09:17:06 +0800 Date: Wed, 17 May 2006 09:17:06 +0800 Received: from u62-13.u203-187.giga.net.tw (203.187.62.13) by u62-13.u203-187.giga.net.tw with SMTP; Received: (qmail 8260 by uid 452); Wed, 17 May 2006 09:17:06 +0800 Message-Id: <20060517171706.8258.qmail@u62-13.u203-187.giga.net.tw> To: Subject: RE: Alert from ebay members! - 8993754 From: MIME-Version: 1.0 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: 8bit Return-Path: m_krumbach@hotmail.com X-OriginalArrivalTime: 17 May 2006 13:21:24.0975 (UTC) FILETIME=[CBF827F0:01C679B4]

Where Have I Been? And Updated Doggie Costs.

2006-05-17T08:30:00.000-10:00

I've been quite busy in recent days. I'll be back posting shortly though. In the meantime, please check out my updated doggie costs. Bought Brownie some food. Total cost to date: $4107.79. Here are some of my favorite posts:

Updated Doggie Costs and Unnecessary Spending.

2006-05-15T08:44:00.000-10:00

So I bought Brownie two new collars, they are Reflective Safekeep Breakaway dog collars ($40.00). I also bought him two new ID tags with more detailed information and is more durable ($15.00). Finally I bought him a new ball toy and bed ($25.00). I've updated the doggie costs. Total to date: $4072.79. Alright, before you read on, please understand I'm not justifing spending all this money, I know it's a little excessive, but I do have to enjoy life a little too. I bought myself a new stereo/dvd deck for the truck--the Alpine IVA-W200 with bluetooth. I've been thinking about it for about 6 months now, and I was waiting for this specific model to be released! It costed me $1150.00--installation was included. Next, I bought myself a new camera. This is another one I've been thinking about for over 6 months. I'm a camera photo hobbyist, but my SLR/digicam is a little to big to carry with me to all the places I want to go. I ended up getting the Casio Exilim S600 in blue. It was a good balance between photo quality, size, and manual control. This costed me $130.00 + $200 in BestBuy gift certificates I earned using my Citi and Chase reward cards. I actually think 6 months is a good cut off for me. If I find myself wanting something for that long of a duration, it usually means that I would find practical use for it since it must've popped into my mind as something I could've used on numerous occassions. And hey I did buy my mom some stuff too! Must...focus...on...sa...ving.

So You Think You've Heard All the Gas Savings Tips?

2006-05-15T08:11:00.000-10:00

Or have you? More common tips are... - Check your tires. Odd sounds could mean poor wear, which might indicate you need to rotate or get new tires. - Maintain your car. - Drive smooth, keep a constant speed. - Don't drive faster than 50 MPH. - Buy a hybrid. - Blah, blah, blah. Well let me give you some unique gas savings tips that you won't hear anywhere else. Ha, okay that was a lie, but I haven't read it anywhere...just kind of thought of them on my own or maybe I heard them some place before. Wait, that means it would be common sense...well, yeah...and maybe they're wrong. ;) 1. Lose weight! That's right. Exercise, eat right, lose weight. The less weight your car has to carry around, the more miles per gallon you'll get. This could mean finally removing the unnecessary items sitting in your backseat. 2. Change to synthetic oils. Synthetics have better lubricating properties, meaning your engine works easier to generate the same power, which means more miles per gallon. Not to mention for an average increase of $15/per oil change, you get 1500-2500 more miles between oil changes! 3. Wax your car! That's right. The smoother your car, the less air resistance your car will generate, meaning your car will require less power to move, which means more miles per gallon! 4. Drive at night. The cooler the air, the more densly packed oxygen is, meaning more power from the same amount of gas. Not to mention there's less traffic at night, so less stop and go traffic. 5. Fill up in the late night or morning before the sun warms up the ground too much. The cooler it is, the more dense gas is as well. Okay, this one doesn't help increase miles per gallon, but you'll get more gas per dollar which means you can buy more gas to travel more miles. Did I confuse you? haha... 6. Roll the windows up on the freeway! Either drive with just the vents open or turn on the AC. AC will mean a little bit more gas used per mile, but it's impact on miles per gallon is less than rolling the windows down. I read this somewhere before...supposedly the resistance generated by having your windows open uses up more gas than turning on the AC and having the windows rolled up. City driving, windows down is a better idea. 7. Buy a "cool air intake (CAI)." Yeah, this is a performance increasing modification for your car, but it does increase miles per gallon. Why? Well, it draws cooler air from outside of the engine bay and allows your engine to breath easier. There are also "warm air intakes (WAI)," which allow easier breathing but have a shorter tube and still pulls air from inside of the engine bay. You're results from a WAI will not be as good as a CAI. I've heard reports of gaining 1-2 mpg by adding a CAI. You'll get more power and more miles per gallon. Right on! If you suddenly have the urge for even more power, then some other improvements that might help gas mileage would be an upgraded ECU (brain) for your car, exhaust system, better tires, headers. I'm not sure if any of these others will really gain you more miles like the CAI though. 8. Plan your trips so that you can hit as many locations in one trip as possible! I heard this idea from a write up at the Paranoid Brain. It's a good one. 9. Don't drive. Walk, catch the bus, ride a bike...carpool, preferrably in someone else's car or the car with the most miles per gallon rating. Although in this case you should help out with gas. Whatever it is, if you don't drive, you have infinite miles per gallon. Good luck saving gas! That's it. I have no idea how many miles you'll save by following these 9 tips, but hey, if each of them gets you .25 miles more per gallon, then that's 2.25 miles more per gallon. That's not too shabby! EDIT: Immediately after writing this post, I found this article in my local newspaper...some of the tips are pretty similar. Enjoy.

Hawaii's Broken Gas Cap. A Failed Experiment in Government Regulation.

2006-05-12T08:56:00.000-10:00

You may not have heard, but Hawaii's recent experiment with regulating the gas industry, also known as the "gas cap," has failed. After about 8 months, the program just didn't work out...or did it? Public opinion seemed to overwhelmingly favor getting rid of it, which is what brought about its demise, but in actuality, it favored the consumer. A lot. Why then was it repealed you ask? Because it "looked" like it didn't work. Before I go on, let me say that I am against government regulation of any business, for the most part, because free enterprise is what drives the US economy. But back to topic, the reason public sentiment was so against the gas cap was purely timing. As gas prices increased, so did the gas cap. This led to the false belief that the gas cap would reduce prices, but didn't. There were a few instances where gas prices dropped, and this was good. But sadly, not enough for the public to accept it. Hawaii is unique in that there are only two refiners. These two refiners control wholesale gas prices in Hawaii. This is one of those instances where maybe government regulation can help, but even then it's still questionable and, in my opinion, a "last resort" action. Regulation makes sense if the companies are not going to be honest. This is the part that pushes me towards regulation, because I believe the two wholesalers in Hawaii are taking advantage of the situation. Pre-gas cap Hawaii often saw price increases, but rarely saw decreases. And if they decreased, it would be a small fraction of what it increased, while the rest of the US saw dramatic decreases. Odd isn't it? As a consumer, I'm sad. But as a US citizen, I'm glad...it is better off that this experiment failed even if it might have meant a few more dollars in my pocket.