Wise Bread

Cheap Home Furnishing Ideas

Amy Lu — Thu, 09 Jul 2009 20:00:02 +0000

The point of home decorating is to create a space that you can enjoy, so how much more would you enjoy a room if you saved big bucks while making a home out of your house? Find out for yourself by learning how to decorate on a budget and get the most out of your space and furniture. Then get inspiration from four do-it-yourself projects that will help make your home uniquely yours. Use these links to jump ahead to any section.

Styling your home for less
Optimizing your space and your stuff
DIY furnishing alternatives

Styling your home for less

Dumpy to Divine on Less Than a Dime
Home (re)decorating doesn't have to be a massive project. Spruce up a not-so-glamorous space with these easy and affordable strategies! By Myscha Theriault

Three Simple Hacks for Style on a Dime
It doesn't take a major overhaul to change how a room feels. Here are three simple decorating ideas that will rejuvenate your space in a jiffy. By Myscha Theriault

Decorating a Living Room for You and Your Money
You don't need a professional designer or a steep budget to help you feel good about your living room. Here's how you can create a room you can really live in -- without gutting your wallet. By Sarah Winfrey

Gourmet Kitchens on a Shoestring
Get a gourmet kitchen without the gourmet price. Just follow these tips on furnishings, storage, tools, and more! By Myscha Theriault

When Going Green is Classy
Who says 'green' and 'classy' are mutually exclusive? Here are some suggestions and situations where your home can be both! By Myscha Theriault

How to Have Cool Crap for Less Money
Want better crap, but don't want to pay a fortune for it? Here are five simple strategies to improve the quality of crap in your home! By Myscha Theriault

The Loft Look for Lots Less
If you want your space to be both functional and stylish, the loft look may be just the thing. It's a versatile design that works in the home AND office, and here's how you can get it for less. By Myscha Theriault

Optimizing your space and your stuff

Small Space Survival Strategies
Living in a small space doesn't have to mean a cramped lifestyle! Follow these twelve suggestions to open up a crowded room. By Myscha Theriault.

Penny Pinching Ways to Pimp Your Garage
Even with a car (or two) parked inside, your garage has great potential as storage space. Check out these eleven low-cost organization tips. By Myscha Theriault

Savings in Every Room
It's easy to run up the household budget if you're not careful, but you can give yourself some leeway if you take advantage of the savings opportunities in each room. Here are areas where you and your family can save some bucks. By Myscha Theriault

How to Get Rid of All Your Crap
It's not easy to let go of physical stuff. Even if you think you got rid of everything that you could, you might still only have made a dent in the mountain of junk that clutters your life. Here's a step-by-step strategy to help you shed the material pounds. By Nora Dunn

Stuff will never make you organized
Buying storage solutions will give you a place to put your stuff, but that won't organize your clutter. So what will? Find the answer here. By Philip Brewer

My Love Affair with Industrial Shelving
It's a low-cost home storage solution that works without creating more work for you. What's not to love? By Myscha Theriault

DIY home furnishing alternatives

Build a Bed for Cheap (and Look Good Doing It)
Sure, it's easier to buy the various components of a brand new bed from the store of your choice, but with a little creativity and smart investments in the parts that really matter, you can build a bed that feels good, looks great, and costs much, much less! By Linsey Knerl

The Ten Dollar Pot Rack
It's a cheap, DIY project that will lift loads of clutter above your kitchen. Learn how to make your own pot rack here. By Myscha Theriault

Campari Art on the Cheap
An easy way to decorate your walls is to hang framed posters, but for a less expensive alternative, use calendars instead! Here are step-by-step instructions on how to dress up calendar art for display. By Myscha Theriault

Sassy Uses for Sarongs
Give your space a South Asian flair by incorporating brightly colored sarongs into your home decor. Here are some ways to use them around the house. By Myscha Theriault

Ready To Buy Some Exercise Equipment? Read This First.

Paul Michael — Thu, 09 Jul 2009 16:35:57 +0000

By Paul Michael

Don’t worry, this is not an exposé on bad equipment or faulty products; I’m no expert on exercise machines and products. But I do know a little about human nature and after many chats with friends and family, I’ve come to one conclusion – most people don’t buy exercise equipment to work out; they buy it because they think it will motivate them to work out, and make working-out easier and more fun.

How many times have you walked past a garage sale in your area and seen a barely-used piece of exercise equipment parked on the sidewalk? Or, to be more direct, how many times have you bought a piece of exercise equipment that you used a few times and then put into storage?

I’m guilty of it. I first encountered this phenomenon back as a young boy intent on building some muscle. I bought a weight set (that my dad had to help me carry home – now that’s irony on a base level) and assembled it in my bedroom, ready to make myself look like a young Schwarzenegger. I think I gave up after 10 weeks. The weights were dismantled and stored in my closet. Well, except for one small dumbbell that served as a very handy doorstop.

In college, I bought a pull-up bar and a sit-up machine. This time I was ready to do some serious crunches and build some big biceps. I don’t even think the pull-up bar made it out of the box. But I did do some crunches. Not many, but some. Then it was hidden from view under my bed for three years, before being given away to a friend for the princely sum of one beer. By the way, he never used it either.

When I got married, I bought more weights. They are currently gathering dust in the garage. I also bought a rowing machine, and yesterday I finally pulled it out to start using it. Luckily, I bought it used for $25 – my thinking here was that if I was going to buy something I would only use a few times, at least I had only dropped $25 on it. What kind of mentality is that?!

It's all about motivation

Anyway, after asking around, I discovered that I’m in a huge majority. Most people buy exercise equipment because they have romanticized the idea of working out. They watch the ads and infomercials, and everything looks so easy and so much fun. Plus, people look great after just a few months.

It’s not the equipment that’s to blame by the way. My rowing machine works great. Elliptical machines and exercise bikes work really well. Weights are guaranteed to be effective if you use them correctly. No, what is missing here is a lack of motivation, and it’s something that no amount of money can buy.

Here’s the crux of the matter. Most of us already own a fantastic piece of workout equipment. It’s our own body. We can use our own bodies to work out, using push ups, sit ups, jogging, yoga, pilates and more. I knew a guy in college that was built like a tank and he didn’t own one piece of equipment. He couldn’t afford it, so he worked out in his bedroom by doing a mixture of exercises, including 100 push-ups, every single morning. He had the motivation, and the dedication, and if he’d been given a piece of equipment you can bet your bottom dollar he’d have used it.

The promise of looking great, coupled with slick advertisements and the quest for a better, healthier body, is enough to make us all open up our wallets and drop a bunch of money on the next great hope. But sadly, for most of us, that shiny new piece of equipment will one day become a dusty new bargain in a garage sale.

So, by all means buy your new workout machine, but make sure you have the motivation first. If you’ve sat on the sofa for six hours every night, eating chips and drinking soda, an exercise bike won’t turn you into a new person. But if you get off that couch and start doing something about it, from a walk to a few push-ups every morning, then maybe you are ready to invest in something that will help you out. Remember…there is no substitute for motivation and dedication. And no amount of money can buy that for you.

Permalink | 7 comments | Paul Michael's blog | Channel: Health and Beauty, Shopping

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Best Deals For Thursday 7/9/09

Paul Michael — Thu, 09 Jul 2009 14:43:45 +0000

By Paul Michael

Today's WISEBUY. LEXMARK PHOTO PRINTER 76% Off. Just $29.99, FREE s/h (Buy.com)
LAB QUALITY 4” x 6” borderless photos as fast as 75 seconds. View and edit photos with large 2.4” color display. Achieve vibrant, resilient photos that can last up to 100 years in normal display conditions or stored in photo albums.

1. FREE Gift From Coach Stores
As a special thanks to our loyal Facebook fans, we have an exclusive gift waiting for you when you visit a Coach store.

2. FREE - FIVE Issues Of OPRAH Magazine
Receive 5 issues (August to December) with no commitment or obligation. You will NOT receive any additional magazines, you do NOT have to cancel a subscription this offer will NOT automatically renew and you will NOT owe any money after you have received your 5 issues.

3. FREE $10 Starbucks Gift Card For Completing a Survey
Microsoft is committed to providing you with the best in class products & services. Please answer the following questions (up to 7 questions in all) in order for us to better understand your needs.

4. FREE Screening of New Movie - FOOD, INC. - Sponsored by Chipotle
The issues raised by the film Food, Inc., are important and complex. Chipotle invites you to a free screening in your area.

5. 60 Leather Key Chains For $14.99 and FREE s/h - SAVE $224!
A great opportunity to buy in bulk and resell and a huge profit. Also good for gifts.

6. iPod Speaker System 98% Off! Just $2.99 plus $4.99 s/h Was $99. (Dealnews)
Simply plug iSpeaker Portable Speaker into your iPod's or portable media player's headphone jack and listen to your favorite music. The speaker is compatible with iPod, iPhone/3G, or any media player (MP3-4) that has a standard stereo audio plug.

7.Sennheiser Sport Headphones For $19.99 and FREE s/h (dealnews)
Features include sweat and water resistance, ear adapter set, 116dB sound pressure level, carrying case, and more.

8. KRUPS 10-Cup Coffee Machine 50% Off - Just $49.95 with FREE s/h
The control panel guides the way, and with a simple push of a button you can program the clock, the auto-on from one to five hours and the aroma switch to maximize flavor. With a no-drip spout and a large handle for easy pouring, this unit's a great addition to any kitchen.

9. $10 Off A $10 Or More Purchase At Discount School Supply - Code SAVETEN
Discount School Supply offers $10 off $10 or more on regularly priced or Clearance Merchandise with code SAVETEN. Shipping is $5 or free if you spend $79 or more.

Latvians Mortgage Their Souls For Cash

Jabulani Leffall — Thu, 09 Jul 2009 12:00:03 +0000

By Jabulani Leffall

Anybody tired of hearing about personal, local and national budget crises? Would you like to step outside your personal sphere and just for a moment play the “relativity” card? That is where you are relative to others less fortunate. Are you feeling international?

Well, here’s the latest finance news out Eastern Europe, the Baltic republic of Latvia to be exact: their economy is cluster-bombed too.

Like the U.S., Latvia’s government is attempting to prop up its banks with savior capital and putting up cash for consumers who may be in heavy hock to local banks. Latvia’s version of economic stimulus plan could cost up to $80 million annually according to the Latvian parliament. That amounts to perhaps one year of compensation for Richard Fuld, of the erstwhile and now failed bulge bracket investment bank Lehman Brothers but that’s just for context.

Much like the U.S., property values in Latvia are plummeting and unemployment levels are hitting double digits as delinquent loan balances rise.

But here’s where Latvia takes a sharp left: People there are selling their souls for cash.

Not figuratively as some Americans do with payday and subprime or auto tile loans or crime or retail therapy as a spiritual and emotional analgesic -- but literally some Latvians are selling their souls.

This isn’t a misprint, a typo or a joke. As of this week more than 200 people have have signed away their immortal spirits for as little as $100 and as much as $1,000, according to Viktors Mirosichenko, proprietor of, shall we say, boutique Latvian finance house Kontona.

Whether the result of atheism or sheer desperation, people are putting up their intangible, unseen essence to get a little cushion coin. This despite the fact interest rates on the 90-day loans are as elevated as 1% a day.

Here’s what’s in the fine print of Kontona's (clearing throat) consumer finance package.

I, the undersigned do hereby take the loan from the Creditor under the known-to-me terms and conditions on the security of my immaterial intelligence, i.e. immortal soul. I also do hereby certify that the said bail is the property of the undersigned and is not promised to anyone,'

I repeat, this is not a hoax but is something straight out of the Faustian Bargain, a deal with darkness and avarice, fear and loathing, a deal for that which puts one above animals.

It was the French philosopher Alexis De Tocqueville, who in the 19th century posited that human beings make a “Faustian bargain” when “buying into the promise of material wealth and well being ahead of principle.”

This whole Latvian episode is whimsical albeit disturbingly so. It raises a greater question on the role that debt plays in our lives. Granted the Latvians that did take these loans out are thinking about the here and now and can buy back their spirits in 90 days at interest and it’s not like Kontona’s collection agency is going to call and say, “I going to need to margin call on that soul, I’m sending the repo man to come pick that up.”

That said, it makes me wonder what my threshold would be, what our threshold would be, what we would do in a desperate situation such as the ones these Latvians found themselves in. This is definitely a quandary that one cannot handicap unless starving, cannot say we wouldn’t do until it’s us.

Yet most in modern society will die with some kind of debt and events like these make one think about what’s important and why being responsible with money and refocusing attention on buying experience and time instead of things is of the utmost relevance.

It’s cut and dry. Your money or your life? Can you bring your wants and desires into parity with your well being, your self worth and esteem, your identity? Or will credit and debt have your nose needing skin grafts from putting it to the grindstone day after day to pay off an engagement ring. Or a flat screen or shoes or a car that loses value as soon as you put your blinkers on to turn out of the dealership. Or that house, whose floors echo with emptiness, tangible and otherwise, as you lift boxes and other things to depart because you can no longer afford it?

Chances are you won’t be putting your soul up as collateral for anything, anytime soon and this is the hope but on a larger level, have you compromised self to play catch up on a bill, to buy something you knew you shouldn’t? Have you indebted yourself to pay off an existing debt? Do you have a live-for-today-tomorrow-is-not-promised mentality and does that inform reckless monetary decision making?

Here’s what a man who works for Kontona and calls himself “Vesti Segodnya” said of the doomsday loans: “Business is business. We give people palpable cash. If a man values his soul, he’ll definitely pay back the credit. I guess, it’s all fair. Everyone can decide for himself, what’s more important.”
Indeed.

Permalink | 1 comment | Jabulani Leffall's blog | Channel: Consumer Affairs

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How will the federal minimum wage increase affect you?

Xin Lu — Wed, 08 Jul 2009 22:00:04 +0000

By Xin Lu

On July 24th, 2009 the federal minimum wage will increase from $6.55 an hour to $7.25 an hour. This amounts to an increase of 10.7%. How will this change affect you?

This change will raise hourly wages for millions of workers in 29 states that have minimum wages lower than $7.25 an hour. In some cases workers who already make more than the minimum wage will also get a pay bump because their coworkers who are making the current minimum wage are getting a federally mandated raise. However, this does not mean that every worker will end up with more money because businesses may be forced to cut hours to adjust to the change. For example, if a worker's hours are reduced by 15% then a 10.7% wage increase would not cover the shortfall.

Some are arguing that this is probably the worst time to increase the minimum wage since almost all businesses are dealing with decreased revenues in the current recession. Considering that this is not the first minimum wage hike since the beginning of the recession in December 2007 it is possible that this hike will make businesses such as retail stores and restaurants cut down on hiring or simply lay people off.

It is unlikely that businesses will be raising prices for their products in the current economy, but if hours are cut on minimum wage workers to reduce labor costs then consumers may be getting less customer service from certain businesses. This could cause some frustrations in the short term.

On the upside, this change will help families who are paid based on the minimum wage and will not get a reduction in work. A 10.7% pay raise is definitely very rare and valuable in the current recession. Additionally, a good amount of minimum wage earners are teenagers and young adults who will spend the extra money they earn. It is still unclear how much the larger economy will be boosted by this change because the extra pay has to come from somewhere. The extra economic activity generated by those who are getting pay hikes may just be balanced out by the decrease of spending by those who will be losing work.

What do you think? Will this hike in minimum wage affect your pocketbook? Is your company cutting hours or laying people off in response to the change?

Permalink | 15 comments | Xin Lu's blog | Channel: Career and Income

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8 Ways to Minimize Costs and Maximize ROI on Employee Travel

Linsey Knerl — Wed, 08 Jul 2009 20:00:05 +0000

By Linsey Knerl

Whether you have a sales force of two that only does the occasional overnight, or you maintain an army of road warriors and have your own travel coordination department, these 8 tips will help you get the most out of your company's travel budget.

1. Know your travelers' needs.

Talking to your employees about their travel needs is one of the best ways to keep costs down. This doesn't just include selecting smoking vs. non-smoking, or aisle seat vs. window, but rather asking your road warriors “what do you really need to feel comfortable travelling?” You may find that certain employees don’t care for a king-sized bed or wouldn't mind taking a red-eye flight so that they can return home to family earlier.

Prepare a simple travel questionnaire for each employee to fill out. Ask them what their preferences are by priority and have it on hand when making their travel arrangements. In addition to standard questions regarding flight seating, bed size, and rental car preferences, be sure to include detailed preferences such a dining choices, special health or disability accommodations, and even whether they like rooms on the first or fiftieth floor (some travelers feel more secure in rooms off the main level).

By giving each employee this simple “needs” analysis, you will save money on things the employee didn't care about while maximizing their comfort (and efficiency) while away from home.

2. Save your resources for when it counts.

Before a trip is ever booked, talk with your team to decide whether the trip is really necessary. Meetings that can easily take place via conference call or web interface should almost always happen in-house. Google Voice and Skype are low-cost video-conferencing options that work well.

However, if the trip has potential to produce an on-site contract signing or other major milestone, the investment should be made. There is no substitution for the candor and connection that results from grabbing a drink or a quick bite to eat with a would-be client.

By betting on only the best opportunities, you can keep your team sleeping in their own beds more often.

3. Let the team know what's going on.

Everyone is feeling the economy, and while it may be acceptable to give a blanket “we are putting you in coach because we need to save money” excuse, providing even a bit more of an explanation can put you in the good graces of your employees.

Your team needs to be assured that their comfort and safety will always come first. For each cut in the budget you make, explain your reasoning to the team. If a switch in hotel vendors is made, give an adult explanation to why it’s being done and how the change can positively affect pay and benefits.

Putting the cuts in a “team-oriented” light will bring a sense of unity to those most affected by cuts. If the CEO is also expected to fly coach, middle-managers will be more likely to swallow it easily. Remember that these are capable adults being sent out to represent your brand and mission, not kids being shuttled off to day camp. The level of respect you provide will directly equate to higher morale, better sales, and a more loyal workforce.

4. Take advantage of corporate discounts.

If you don’t already have a group rate set up with the hotel or rental car chain that you use the most, this is the perfect opportunity to ask for a discount. Many companies offer details on their website, but a simple call to their corporate office can get you going in the right direction. Discounts can vary from getting a small percentage (5-10%) off all your bookings, to getting a free night or day rental after a certain number of purchases.

5. Utilize credit and charge card rewards.

And pass travel rewards back to employees. Have a chance to upgrade a seat from coach to business class using reward points? Do it, and get your road warrior to their destination happier.

Does your card give you access to airline lounges or over 950 business lounges in cities around the world? If not, consider the American Express OPEN Business Platinum Card, which offers travel rewards that give your jet-lagged road warrior a place to work and freshen up all over the world. Plus exclusive access to events, impossible-to-get dining reservations, and access to American Express' legendary concierge service.

Use all the rewards you have to make life easier for your travelling employee (especially amidst cutbacks in other areas).

6. Plan ahead.

Cancelling a trip on last-minute’s notice is not only inconvenient, but it can also be very costly. Airline change fees start around $150, and many hotels will charge for nights cancelled within 24 hours of the reservation. If you find that cancellations are eating up even a small amount of your travel budget, it may be time to revaluate the common causes for these travel snags, and get them under control via the communication methods mentioned above.

7. Mind your time.

Money can be lost when travel time is not clearly specified. Will your sales team be gone three hours or six? Can they return that night or do they need to stay until the next afternoon? Small decision can balloon into big expenses. By finding out just how much time the trip really needs to take, you can cut back on time out of the office (and money out of your pocket).

8. Hold fees accountable.

ATM and luggage fees are just two examples of charges that many employees wouldn’t think about incurring if it were on their dime. Be sure to have a clear policy for what will be reimbursed for company travel.

If you decide to exclude certain items, help your employees work around it. For example, by offering packing tips, allowing conference materials to be shipped in advance, or providing a list of locations for fee-free ATM services.

Your SSN Can Now Be Accurately Guessed Using Date and Place of Birth

Paul Michael — Wed, 08 Jul 2009 16:29:57 +0000

By Paul Michael

It seems that nothing is safe any more. And now your Social Security Number, the lynchpin to you credit score, taxes, government benefits and more, is under attack. It can be guessed, with a staggering degree of accuracy, using simple information you probably have on sites like Facebook and MySpace.

We have all heard the stories about Identity Theft and we all take precautions to be careful with our SSN. In fact, these days I’ll only put it down on a form if I absolutely have to; that includes medical forms that you often have to fill out when you visit a GP or specialist. But that may now be a moot point, because two Carnegie Mellon researchers have basically reverse-engineered the SSN formula to gain access to that most precious and private number.

John Timmer of Arstechnica.com reported yesterday that these two bright sparks used two practices that had been designed to protect the number, and make it fraud-proof, as a way to discover the code from those two simple facts – date of birth, and place of birth; two facts that are on most public profiles.

To know how they did it, you need to know the basic structure of the SSN. As John describes it, it splits into three zones:

The first three digits are based on the state where the SSN was originally assigned, and the next two are what's termed a group number. The last four digits are ostensibly assigned at random. Since the late 1980s, the government has promoted an initiative termed "Enumeration at Birth" that seeks to ensure that SSNs are assigned shortly after birth, which should limit the circumstances under which individuals apply for them later in life (and hence, make fraudulent applications easier to detect).

From there, the article gets pretty heavily into some technical data and statistics that I won’t bore you with here. If you’re interested, read all the details of the algorithm that reconstructs your Social Security Number. But all you really need to know is that if the SSN code has been cracked, or hacked, then it won’t be long before that information gets into the wrong hands.

So, should you be worried, and what can you do?

Well, as John Timmer explains, although some of the SSN digits are relatively easy to obtain, others are more tricky:

Getting the last four digits right was substantially harder. The authors used a standard of getting the whole SSN right within 10 tries, and could only manage that about 0.1 percent of the time even in the later period. Still, small states were somewhat easier—for Delaware in 1996, they had a five percent success rate.

BUT, and this is a big but, it seems as though modern security systems and automated forms DO NOT REQUIRE the whole SSN. As long as it is cross-referenced with the date and place of birth, up to two numbers can be incorrect. John continues:

They often allow several failed verification attempts per IP address before blacklisting it. Given these numbers, the authors estimate that even a moderate-sized botnet of 10,000 machines could successfully obtain identity verifications for younger residents of West Virginia at a rate of 47 a minute.

Think about it: 47 a minute! Considering how prevalent ID theft is around the world, and how sophisticated thieves are becoming, I think this is enough to cause concern for the average US citizen. And as such, it may be time to start taking precautions.

First, see if you can remove your private information, or replace your place and date of birth with something more vague on your social networking sites and other public profiles. That one should be relatively easy, if a little time consuming.

Second, continue to practice good personal security. Shred any important documents that you are throwing out, and don’t leave sensitive data in a place where thieves could easily find it. I know a lot of people throw things in the car and forget about it, but if the car were stolen or broken into, it could be the start of much bigger problems.

Third, keep on top of your credit reports. You are allowed one free each year from each of the three major credit bureaus. DO NOT use freecreditreport.com, they charge. Instead, go to Annual Credit Report here. If you see anything suspicious or just plain wrong, contact the bureau immediately.

Finally, consider some ID theft protection. I use LifeLock because I got a great deal on it, and although not 100% effective, it does cover me if anything should happen. But LifeLock is basically just a method of putting 90-day fraud alerts on your credit reports, which you can do yourself for free. You can find the information for each bureau here:

EXPERIAN

EQUIFAX

TRANSUNION

For further reading, visit the FTC’s site. It has some great information. Stay safe folks.

Permalink | 12 comments | Paul Michael's blog | Channel: Consumer Affairs, General Tips, Technology

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Best Deals For Wednesday 7/8/09

Paul Michael — Wed, 08 Jul 2009 14:34:37 +0000

By Paul Michael

Today's WISEBUY. Newport News Summer Sale - 70% Off Plus 20% Off (dealnews)
Newport News cuts up to 50% off select items in its Summer Sale. Plus, take an extra 20% off sitewide via coupon code "638". Shipping starts at $4.99.

1. FREE Personalized Photo Playing Cards + 50 Free Prints
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4. FREE Ziploc Pack-And-Go Gift Pack
First 10,000 to respond will receive one full pack of Ziploc® Brand Sandwich Bags and one small Ziploc® Fresh Shield® Twist 'n Loc® Container.

5. NBC Universal Store Sale - 5 Items For Just $20, plus $6 s/h (dealnews)
Get yourself some TV and movie memoribilia for a steal. Add each item to your cart individually to see the price drop to $20 for all five.

6. Infant, Toddler and Kids' Clothes From as Little As $2 at Kohls
Shipping is free for Kohl's Card-holders with code MVC8186, otherwise it's $0.99 per item. Kohl's Card-holders save an additional 15% with code SUMMERMVC

7. Kingston 16GB Flash Drive For Just $28.99 plus FREE s/h. Save 55%.
With capacities up to 16GB, DataTraveler 101 contains room for high-definition photos, graphics-intensive documents, videos, spreadsheets, presentations, term papers, and music that can be stored and retrieved in a flash.

8. Up to 86% off J.Renee Women's Shoes at 6PM.com (dealnews)
Today only, 6pm.com takes 48% to 86% off over 190 styles of J. Renee women's shoes, with all priced at $19.95. Pay $6.95 for shipping.

9. HP Officejet Pro 8000 Printer Down To $25.34 Plus FREE s/h (after trade-in and $50 rebate)
Click on the link above for complete instructions. Well worth your time for this deal!

10. Southwest Airlines - Every City On Sale For 48 Hours Only - Fares Start At Just $30!
Fares come in the range of $30, $60 or $90 for a one way ticket.

10 Classes to Boost Earning & Savings Power

Frugal Duchess — Wed, 08 Jul 2009 14:33:00 +0000

By Frugal Duchess

The New York Times recently featured a story about parents who provide Spanish and other language lessons for their young children. At 50, I have my own wish list of classes that would improve my personal and financial accounts.

1. Chinese

I would love to learn to speak and read one of the Chinese dialects. Why? I've read some of the English language marketing materials that are printed abroad. There's definitely a market for translating business and marketing materials from Chinese into everyday English. Also, the characters and the calligraphy are so beautiful and as a hobby, I would enjoy writing in Chinese.

2. Tai-chi

Learning to chill out in slow motion is one of my goals. I've attended Yoga, kick-boxing and other martial arts classes, but I think moving at a slower pace would improve my decision-making capabilities on a personal and professional level.

3. HTML course

I spend a lot of time blogging and reading online. Therefore, it would be helpful to have a better grip on the inner guts of the HTML language and the world of web design. A course on software and programming would be very useful. I actually lost out on one job opportunity, a few years ago, because of my sluggish computer skills. It was a research position, but they also wanted a maven in spreadsheets, data processing and programming.

4. Marketing 101

Attending a course taught by a gifted teacher and expert in marketing would be helpful for promoting books, blog posts or even coffee at Starbucks. No matter what we do, we're all selling or promoting something. Even teachers are promoting education.

5. Spanish

I can get by with my ragged Spanish when I'm in the grocery store. But I need a total immersion course to speak Spanish fluently and politely in a business setting. And I've noticed that many positions in South Florida (and perhaps in other areas of the country) demand bi-lingual speakers.

6. Personal finance for the self-employed

I know how to write. I know how to network. But a business and finance course for small entrepreneurs would help me handle the nuts-and-bolts, back-office chores of my free-lance writing career. Many of us -- even if we have full-time jobs -- have side careers or part-time businesses that would get a boost from a course in Self-Employment 101.

7. Organization

My computer laptop bag is as messy as the book-bag that I once carried around in third grade. Organization has been and remains my Achilles heel.

8. Sewing lessons

The tailor charged us $30 to hem the pants and to nip the waist of my son's suit for his recent Bar Mitzvah. Ouch. It was a lot of money for a few simple stitches. I just wish that I had the skill to make professional alterations or to sew a simple skirt.

9. Defensive driving course

Yeah. It's an old story and very embarrassing. I'm 49 years old and terrified of driving. But I think that a good one-on-one course on defensive driving would help me tackle my fears and save me a lot of money in cab fares.

10. Relaxation courses

Most of my worst decisions -- personal, economic and professional -- have occurred when I was totally stressed out. A mind-body relaxation course, a new approach to stress management and a few lessons on proper breathing would really put valuable resources in my personal accounts.

Editor's note: Sharon Harvey Rosenberg (The Frugal Duchess) will be joining Wise Bread as a full time blogger in August. In the mean time, she'll be dropping by with a few guest posts a week. You can find more great tips from Sharon in her book Frugal Duchess: How to Live Well and Save Money or in Wise Bread's new book 10,001 Ways to Live Large on a Small Budget.

Can't wait until August? Here are other great posts by Sharon on her blog The Frugal Duchess. Enjoy!

Selling the Car, Jewelry & Other Stuff to Raise Cash

Sell the Coach Bag? What I'm Willing To Give Up for Financial Security

Shocking Results from My Free Energy Audit

Tips for Preparing for Home Ownership

How to Save Money on Hair Coloring (Sorry Jamie Lee!!)

Permalink | 6 comments | Frugal Duchess's blog | Channel: Career Building

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Book review: Life Inc.

Philip Brewer — Tue, 07 Jul 2009 22:24:01 +0000

By Philip Brewer

Life Inc.: How the World Became a Corporation and How to Take It Back by Douglas Rushkoff.

Corporations were invented a few hundred years ago--created to increase the wealth and power of favored businessmen (and the governments that favored them). They have become such a universal feature of our economy that few people give much thought to their origins--or how our economies are structured to suit them. But exactly that is the topic of Douglas Rushkoff's new book.

Rushkoff beings the book with an anecdote: After being mugged outside his apartment, he posted to a local internet forum so that his neighbors would be aware of what had happened. His neighbor's reaction, though, surprised him--how dare he post about such a thing in public? Didn't he know such talk would lower property values?

Maximizing economic value

Property value, of course, is a pretty abstract concept. Unless you're planning to sell (or refinance) your property, its market value should be of little interest--certainly of less interest than the presence of muggers working the sidewalk in front of your home. And yet, Rushkoff's neighbors clearly felt otherwise. Rushkoff's analysis: They were thinking like corporations.

Corporations are legally required to try to maximize their economic value. A board of directors that didn't do so would be failing in its fiduciary duty to the shareholders. People, of course, have no such legal obligation--and yet, as Rushkoff's anecdote shows, people often behave in that way as well. How come?

That's the story that Life Inc. tries to tell, and a fascinating story it is. He talks about the earliest chartered corporations--monopolies licensed by the crown--and how they were designed to extract value from the periphery (India, Asia, Africa, the Americas) and bring it to the center. With a few exceptions, corporate charters no longer grant monopolies, but by now the whole structure of the economy is designed to favor corporate thinking and to facility its original purpose of drawing the value in to the center.

Local money versus centralized money

One of the most interesting pieces of the tale is the story of money.

Over most of history, the things we think of as classical forms of money, such as gold and silver coins, were mostly used by governments and traders. They were used to finance long-distance trade, because they held their value--even when the trader was 1000 miles from home. Close to home, though, they didn't see much use. Peasants are largely self-sufficient, and most of what they can't produce for themselves they can trade for locally.

Even locally, though, some form of money is very handy--it's easier than barter for all the reasons that people have always preferred money. Since gold and silver were largely monopolized for governments and international trade, throughout the middle ages local money (in various forms) was very important. Instead of being backed by gold or silver, local money was generally backed by agricultural products such as grain or tobacco.

In practice, local money produces a very different result from centralized money. Since agricultural products deteriorate with age, there's no good reason to hoard money. The smart thing to do is to spend it on some productive asset--land, buildings, livestock, tools--or at least on something that can be made more valuable with labor. The result of people following that logic is thriving local businesses, producing goods with local materials, fully employing the local labor.

In fact, according to Rushkoff, the period of the middle ages when local money circulated side-by-side with centralized money brought Europe to a peak of affluence it had not seen since the Roman empire, and would not see again until the industrial revolution. It was in this period that the great cathedrals were built--among other reasons as productive assets: as tourist attractions to bring in pilgrims.

Modern corporations

There are many good bits to the book. I particularly liked a couple of great examples of the same thing I was talking about in my article that described modern corporations as specialized venture capital firms. He talks about being hired as a consultant by a company that called itself a major American television manufacturer--except that the TVs were outsourced to Korean manufacturers, the design to a design firm in San Francisco, the marketing to a New York agency, and fulfillment and delivery to a major shipping company.

I also liked this bit:

During the famous dog-food-poisoning crisis of 2007, worried consumers called their dog-food companies for information. Were the brands getting their chow from the plant in China responsible for the tainted food? Many of the companies couldn't answer the question. They had outsourced their outsourcing to another company in China that hadn't yet determined who had gotten which food. The American companies didn't even do their own outsourcing.

The core of the book is this analysis: The economic structures that worked so well for extracting wealth from the colonies and bringing it to the capitals of Europe are still at the heart of modern corporate structure and modern economies. And, because they were designed to draw wealth from the center, they continue to have that effect. And, since the rules were designed to favor corporations over ordinary people, people come in second unless they act like corporations.

The thing is, people aren't corporations. When they try to complete on those terms, they lose. The ones who do it better than others might come out ahead of their neighbors, but they still lose to the corporations.

There are always two parts to a book like this. First, there's the analysis of the problem. Rushkoff has done well here. He lays out the case that there is a problem, and offers a compelling analysis that the economy is structured in such a way that only corporations can win. The second is to propose solutions.

Solutions

Many people have suggested that the solution is simply for people to out-corporate the corporations. After all, corporations are made up of people, and when you get to the bottom of it, people do all the work anyway. Rushkoff says this won't work--when we try, we will always end up competing with one another:

Instead of working with one another to create value for our communities, we work against one another to help corporations extract money from our communities.

The solution, Rushkoff says, is to reconnect locally in our own communities. When we move local interactions outside the realm of the money economy--when we interact with one another as friends and neighbors--we deny the corporations the opportunity to extract value.

That doesn't mean it's easy, though:

The psychological hurdle to cross is the inability to accept that ten thousand dollars of one's time spent making a local school better will create more value than thirty thousand dollars of one's money spent on a private school. The money guarantees a great education for our own kid, the time improves the school for everyone's kids. Still plagued by internalized competition and self-interest, most of us are not quite ready to chose the better path, or to convince our neighbors to join us in the effort.

The best bits of the book are the stories about the history of corporations and the history of money--which is sad when it's a description of the problem but happy when it's examples of ways things can work better.

The stories of present-day efforts to return to interacting with one another as people rather than as corporate-style economic entities are not quite as compelling--largely because their very nature is to be local to a specific time and place and circumstance. They can serve as examples--even as models--but unlike deciding to act as a purely self-interested individual (which an individual can just do), interacting like people requires that others do the same.

As I say, the analysis is compelling--and the recommendations are compelling as well, even if it's a bit daunting to see a path to following them. The book is an excellent resource for anyone who wants to know how the economy got to be the way it is, and how we might do better: Life Inc.: How the World Became a Corporation and How to Take It Back by Douglas Rushkoff.

Permalink | 2 comments | Philip Brewer's blog | Channel: Consumer Affairs, General Tips

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Would You Accept $200,000 If You Didn't Know Where It Came From?

Paul Michael — Tue, 07 Jul 2009 20:52:26 +0000

By Paul Michael

You know, I hear a lot of people say that frugal people would do anything for dime. Personally, I think that applies more to greedy people, but it got me thinking of a question that combines morals with money. Would you accept $200,000, no strings attached, if you did not know where it came from.

As I was thinking of this question, a classic episode of The Twilight Zone popped into my head. Based on a story by Richard Matheson, it was one of those episodes that creeped me out for days, and I was only a young lad at the time. Here's an outline of the episode "Button, Button" (you'll see why this is apt in a moment):

Norma Lewis is the wife of a down-and-out man named Arthur. One day, they receive a mysterious box with a button on it. Then, a smartly-dressed stranger comes to their door and explains that if they press the button on the box, two things will happen: they will receive $200,000, and someone "whom you don't know" will die.

The episode then concentrates on the enormous decision that Norma Lewis has to make. And, after some back and forth, the climax of the episode (and the moral, we hope) is revealed:

Norma decides to push the button. She does it and her husband looks at her with disgust. They go to bed after seeing nothing happens. The next day the stranger returns, takes back the box, and gives them a briefcase with the $200,000. The Lewises are in shock and ask what will happen next. The stranger ominously replies that the button will be "reprogrammed" and offered to someone else with the same terms and conditions, adding as he focuses on Norma, "I can assure you it will be offered to someone whom you don't know."

It's a classic Twilight Zone scenario, in which greed is rewarded with the ultimate penalty. But what if there wasn't a penalty; at least, no penalty that you were aware of?

If the Lewises has been offered the money and told "accept this money, no questions asked, and you will feel no repercussions" I doubt they would have taken as long to accept the money.

Imagine, especially in these tough financial times, that a stranger offered you the money with absolutely no chance that it would come back to bite you. There would be no mob guys knocking on the door, no prison terms, no danger. The only condition is that you cannot know where the money came from. Would you take it? Would you even hesitate?

The problem here is that although the money could come from a generous benefactor, it could also be the result of something terrible -- perhaps the slave labor of children, war profiteering, drugs, prostitution or something worse.

And yet, it's not so far-fetched to think that we all do this, every day, on a much smaller scale. When we choose the $59 Nike shoes, do we think about the way in which they were made? When we demand lower prices for clothing and toys, do we care about the conditions that exist in order to make those deals possible? When we buy cheap eggs, do we care about the factory-farming hell that created them? Food, electronics, cars, beverages, everything we touch these days has a moral price attached to it.

So, think about that question again; would you take the $200,000? At what point would a no become a yes? At what point would your conscience kick-in? And when is a bargain something that has a much higher cost associated with it? Over to you...

Permalink | 27 comments | Paul Michael's blog | Channel: Frugal Living, Consumer Affairs

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25 Things to do With Used Corks (Including Making Money With Them)

Nora Dunn — Tue, 07 Jul 2009 17:43:08 +0000

By Nora Dunn

Do you like to enjoy the odd (or not so odd) bottle of wine? If so, then what do you do with the cork? Sure, you can toss it in the recycling bin along with the bottle, but what if they could be reused ingeniously? Following are a few ways you can recycle your corks so they can be put to good use.

History of the Cork Tree

Yes, there really is such a thing as a cork tree. Known as the Cork Oak Tree, the bark is used for the production of corks. When properly harvested, taking the bark does not kill the tree (it regenerates in several years), which makes cork a renewable sustainable resource. The bark is harvested without machinery, and in Portugal (where over half the world’s cork oak trees reside), the cork oak tree is prohibited from being cut down.

Cork advocates will tout other environmental benefits of cork, including new technologies for the use – and reuse – of cork.

What are corks recycled into?

Used corks can be recycled and transformed into a variety of objects including:

Flooring tiles
Building insulation
Automotive gaskets
Craft materials
Soil conditioner
Sports equipment

Where can I take my corks for recycling?

Yemm & Hart Ltd is one of the better known cork recyclers; accepting donations of cork by mail to make adhesive cork tiles for flooring or other household applications. And, if you can collect and send at least 10 pounds of pure cork, they’ll even pay you for it! What a great way to make a few extra dollars…the Wise Bread way.

Korks 4 Kids is another program that recycles corks into flooring and construction materials. All of their profits go to charity, and as a charity themselves, your cost of shipping the corks is tax deductible.

Terracycle, a company that recycles any number of items including yoghurt cups and energy bar wrappers, also has a cork program. If you collect 200 or more corks, they’ll pay for your shipping costs too. This is a great company to become involved with, because in some cases depending on what you are collecting, they’ll make a donation on your behalf (example: 2 cents per item) to a non-profit organization of your choice.

And for other places around the country to drop off your corks for recycling, check out ReCork America for a list.

How can I reuse corks myself at home?

The number of ways you can reuse corks at home is limited only by your imagination. Here are some suggestions:

IN THE KITCHEN

Pour Spouts: If you have a bottle of oil or vinegar that pours overzealously, then slice a small wedge lengthwise out of a cork and jam it in the bottle neck. Now you can control your pouring!

Cleaning Knives: High-carbon knives clean up best with a dash of cleanser and a cork instead of an abrasive cleaning pad.

Knife Holder: Glue a number of corks together, side by side. Make slits in the top, and put your cork creation into your knife drawer. Store the knives blade-down in the cork slits and they will stay sharp much longer.

Mulling Spice Bags: This is a great gift with a homey touch. The cork tops it off nicely.

AROUND THE HOUSE

Baseboard: This is ingenious, inexpensive, and interesting to look at. It’s a touch labor-intensive though, and depending on the size of your room, you’ll need to drink a lot of wine (or at least have a lot of friends who drink wine) to get this project off the ground.

Floor Savers: Slice the cork into small disks and attach to the bottom of furniture, chairs, and other items that could scratch the floor. (This technique is also good on cupboard doors to prevent them from slamming).

Pin Holder: An extra cork strategically placed near your bulletin board can be a refuge for wayward pins and tacks.

Cork (bead) Curtain: String corks together end to end (and many times over) to create your own bead curtain to be hung in a doorway.

Cat toy: Drill a hole into a champagne cork and stuff it with catnip. Attach a string to the cork and taunt your cat with it!

Business Card/ Place Card Holder: This has an elegant touch at dinner parties and is an ingenious way to present a business card in an office setting.

Razor Blade Holder: If you find yourself fiddling with a razor blade for a home repair project, try making a slice into the top or side of a cork and jamming the razor blade into it. Now you have something to hold on to while you are using the blade.

Corkboard: This is a common way of reusing corks, and it looks good too.

Cork Trivet: Another common and practical way to reuse those corks.

…with a few words of wisdom for constructing the proper-sized frames for both the above items.

OUTSIDE

Fishing Bobber: Insert a piece of dowling to secure your fishing line (bobber style), then get to it. Your cork will tell you if the fishies are close.

Garden Mulch: Grind your corks up in a food processor and add to your garden bed. The cork will retain moisture and mulch your garden effectively.

CRAFTS

Stamps: This is a great one to do with the kids: carve stars, moons, letters, and other shapes into your cork top. Dab with ink, and have fun.

Christmas Decorations: With a needle and fishing line, you can string a bunch together end to end, separated perhaps by dried cranberries or other colorful additions.

Wine Cork Man: This little guy is pretty cute.

Wine Cork Angel: Great for the holiday season.

Cork Trolls: Make a whole family of these critters!

Cork wreath: I initially thought this would be tacky, but was pleasantly surprised.

Cork heart decoration: Ditto here! This is a popular design and easy to make too.

For more information on corks, the cork industry, and cork recycling, check out ReCork America.

Permalink | 8 comments | Nora Dunn's blog | Channel: DIY, General Tips

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Best Deals For Tuesday 7/7/09

Paul Michael — Tue, 07 Jul 2009 14:19:35 +0000

By Paul Michael

Today's WISEBUY. Up to 69% Off NATURALIZER Women's Shoes At 6PM.com (dealnews)
6pm.com takes 46% to 71% off over 400 styles of Naturalizer women's shoes, with prices starting at $15.26. Pay $6.95 for shipping.

1. FREE Burnless Bakeware ($20 value) - Choose From 14 Great Products
We're so confident that you'll love our products, you'll be back for more. Pay $7.95 for shipping.

2. FREE Herbal Candle From Beauty Herbal Spa
In order to promote our services in the community we offer free herbal candle from our salon so that you can test them out and see how you like it.

3. FREE Samples Of Pure'ity Hair Care Products
Just fill in the form and within 10 days you will get samples of Pure'ity Hair Care Products—free and with no obligation. Your choice of Peppermint or Citrus. One set per household.

4. FREE Subscription To Psychology Today Magazine
Psychology Today takes information from the latest research in the field of psychology and makes it useful to people in their everyday lives. Its coverage encompasses self-improvement, relationships, the mind-body connection, health, family, the workplace and culture.

5. OAKLEY Outlet Store - Up To 90% Off!
Free shipping on orders over $100. Items start as low as $5.

6. Energizer LED Hard Case Impact Resistant Flashlight - $7.99, FREE s/h
"The toughest flashlight you'll ever own." Heavy-duty LED flashlight survives a 30-foot drop. Lifetime LED bulb with shatterproof lens. Water resistant. A 50-hour run time, so you don't need to keep changing batteries. Batteries included.

7. Collegiate T-Shirts From $4.02 at Amazon
Shipping is Free with Amazon Prime or if you spend $25 or more. Use Slick Fillers to find other eligible items to help bring your total to $25.

8. Nike Women's Rejuven8 Lite Flip-Flops Just $5.76 plus 99 cents s/h (dealnews)
Dealnews also offers some great stackable codes to use at Kohl's.

9. 50-Pack DVD-R Spindle Just $3.99 After $5 Mail-In Rebate! (NewEgg)
Amazing deal, the lowest we've ever found for DVD-R media. Grab it quick!

10. Diane von Fursterberg Rolling Business Case $30 (Was $129.99)
Designer luggage for a steal. Two zippered compartments. Front compartment contains accordion style divider and multiple pouches for all your business files. Rear compartment contains fully padded compartment to hold up to 17" laptop.

How Old Were You When You Started Saving? (Answer and Win!)

Linsey Knerl — Tue, 07 Jul 2009 12:23:32 +0000

By Linsey Knerl

According to a study commissioned by the AICPA, for every dollar of assets owned by 25-34 year old consumers in the United States, they are carrying 70 cents worth of debt. If that seems excessive, then you understand how important it is to begin saving as soon as possible! Lucky for us, we now have more resources available to help the young (and the not-so-young) set attainable savings goals and keep moving forward with putting away money for their future.

We want to know about your savings experiences! How old were you when you began to seriously start saving? What tools and tricks have you found to be helpful? If you're among the many people who haven't been able to save, what is holding you back?

In addition to being entered to win our typical Trivia Tuesday prize of one of two $10 Amazon Gift Cards, we have a special prize to giveaway in conjunction with FeedThePig.org. 6 winners will be chosen to get a prize pack, containing piggy bank, stress ball, key chain, and weepul, all inspired by “spokespig” Benjamin Bankes. (Benjamin urges young adults to spend within or below their means as part of the FeedThePig campaign.) Prize packs are pictured above.

Those of you who aren’t familiar with the “drill,” read below for full details:

Win a $10 Amazon Gift Certificate

We're doing two giveaways -- one for random comments, and another one for a random tweets.

How to Enter:

Post your answer in the comments below, or
Tweet your answer. Include "@wisebread" in your tweet so we'll see it and count it.

If you're inspired to write a whole blog post, please link to it in the comments or tweet it.

At the end of the drawing, we'll update this post to include (and link to) all of your helpful responses.

Giveaway Rules:

Contest ends Wednesday, July 8th at 11:59pm CST. Winners will be announced after July 9th on the original post and via Twitter. Winners will also be contacted via email and Twitter Direct Message.
You can enter both drawings -- once by leaving a comment and once by tweeting.
Only tweets with "@wisebread" will be entered. (Otherwise, we won't see it.)

Good luck!

Looking for more fun tools to help in saving for your future? Maybe you'll like:

Beat the brain - A quick quiz to help you identify thinking and behavioral patterns that lead to overspending
5% challenge - An interactive tool to help you calculate your savings goals
Resource section - This nifty list of "must reads" will give you a good start in learning more about money

(FeedThePig.org is sponsored by the AICPA.)

Permalink | 115 comments | Linsey Knerl's blog | Channel: Giveaways

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New Income Based Federal Student Loans Repayment Plan - Can You Benefit?

Xin Lu — Mon, 06 Jul 2009 22:01:36 +0000

By Xin Lu

This month a new repayment plan for federal student loans is going into effect that allows borrowers to base their monthly payments on their income after graduation. Here are some details on how the new Income Based Repayment Plan (IBR) affects loan payments for borrowers, and some pros and cons of participating in the plan.

First of all, this plan only applies to borrowers with federal student loans including Stafford, Grad PLUS or Consolidation loan made under the Direct Loan or FFEL programs. The loan also cannot be in default and can apply to any type of education.

The monthly amount required is based on income, family size, and state of residence and the Federal Student Aid websites provides an IBR calculator here for you to figure out what monthly amount you would owe. Borrowers who earn less than the poverty level have a minimum payment of zero, and others do not have to pay more than 15% of their discretionary income. It is possible that your current repayment plan is less than the amount required under the IBR plan. For example, if you are a single borrower who currently owes $5000 at 6.8% and earns $25,000 a year, the new plan would peg your payments at $109 a month, but the amortized 10 year repayment plan would only require a $57 monthly payment. In this case it is probably easier to just stick with the original10 year repayment plan.

If a borrower chooses to enroll in the IBR plan because the monthly repayment amount is lower, then the loan may be stretched out due to interest. Basically, any interest payment not covered by the monthly payment will be rolled into the principal. So it is possible that the loan will get bigger. If the borrower has a Subsidized Stafford Loan, the government will pay the unpaid interest for three years. But after that all unpaid interest will be capitalized.

There are a couple ways the loans can be forgiven. One method is for the borrower to make repayment under the plan for 25 years, and the other is to work in public service for 10 years and make all 120 loan payments through the IBR.

The main purpose of the new repayment program is to help many recent graduates who are having trouble finding a job that pays well. It could also help families who have suffered a job loss and have high student loan obligations. Borrowers will have to record their income and family size every year to redetermine the payment amount. When you get a higher income job, the loan will adjust accordingly. However, since the loan will be stretched out and interest added, it is not recommended to join the plan if you currently have no trouble paying your current loan amount.

If you could benefit under this program you should contact your student loan lender directly to apply.

Permalink | 2 comments | Xin Lu's blog | Channel: Career and Income, Consumer Affairs

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How To Avoid Gambling Away Your Investments

Silicon Valley Blogger — Mon, 06 Jul 2009 16:47:35 +0000

By Silicon Valley ...

Investing has been the subject of debate between me and my colleagues, on and off throughout the years. Some of my friends consider participating in the stock market a form of gambling, while I say "it depends." While I agree that not everyone should be risking their money in certain investments, I believe that by taking on an extreme view against investing in general, you could be missing out on potential growth in your net worth. Unfortunately, in recent years, what's happened in the stock market may validate what some people already think -- that investing is indeed synonymous with gambling.

But for those who are young, able-bodied, employable and with a good income stream, putting money in the stock market is still a good bet (pun intended). For instance, while I'm pretty conservative when it comes to my money -- I'm debt free but for my mortgage -- I am one who also enjoys investing and who has happily reaped the benefits of this activity over the years. So if you're nervous about investing, here are a few tips to help you find the confidence to make that first step as a stock investor:

How To Prevent Your Investments From Turning Into A Gamble

1. Learn about investing.
These days, many online brokers and mutual fund companies offer a lot of resources and information that you can use to boost your knowledge about the stock market. When I first started investing, I only had books, magazines and publications to turn to, unlike today with the wealth of information at our fingertips. I'd encourage you to check out our TradeKing review or this coverage I have of ETrade, where you'll see the kind of resources that are available to you for free by simply joining a well rated brokerage. You'll get very strong support at mutual fund companies like Vanguard and Fidelity as well, or at independent financial sites like Motley Fool and SmartMoney.

2. Have enough of a cash cushion.
Make no mistake, the stock market is rife with risk. But don't forget that there are other risks too, when you decide to keep all or most of your money in a safe, liquid account. While it's important to ensure that you do have some money saved up in a savings account, don't overdo it because over time, you may not be earning enough in interest to make up for the effects of inflation. You'll need stocks and other investments to prevent your assets from losing ground due to inflation. For most people who earn an income or have cash flow, their emergency fund can serve as the cash cushion here.

3. Diversify, diversify, diversify.
The key to managing your risks with investing is a little thing called diversification. I've often written that diversification is the foundation of any solid investment plan. Create a portfolio that represents all the major asset classes such as stocks, bonds, cash, and maybe include real estate and gold (or precious metals) in the mix. For stocks, you'll want to diversify further by getting representation in foreign and domestic companies.

4. Gamble only with a little.
Should you trade stocks online? Some people make the mistake of equating investing with trading, which are two different animals. The prudent approach is to create what is called a "core and explore" portfolio. The one I have consists of core investments in solid, high quality investments such as index funds and ETFs, while I cap the amount of money I use for "fun, experimentation and exploration into wild investments" at 4% of my total portfolio. That way, I can indulge my interest in trading the market.

5. Stick with what you're comfortable with.
Go with the kind of portfolio that will make you sleep at night. Deciding to put most of your funds in aggressive stocks and risky investments like penny stocks or options (unless you have great experience in options trading), is gambling, if you're an average investor. Instead, use your goals and self-understanding to invest according to your risk profile.

6. Stick with easy to understand, well known investments.
What can be more popular and easy to understand than mutual funds? These boring funds often get some flack for being ... well, boring, but you'll increase your chances of making money over the long term with a simple diversified portfolio of index funds.

7. Avoid making emotional decisions.
I used to think that market timing is bad. Today, I don't necessarily think it is, unless you're timing the market based on emotion. Remember that with market timing, you risk being whipsawed by volatile prices. If you time the market by basing your decisions on a clear investment strategy and loads of analysis, then it's a different story. That said, market timing is only appropriate for skilled and experienced traders, while the average investor should probably avoid participating in such a risky exercise.

8. Understand your risks.
Know the risks you take before you put your money on the line without any guarantees, so do your research and read your prospectuses before you invest. It's also important to understand the relationship between risk and reward, as well as your own investment profile. Ask yourself: what kind of investor are you? Here's more on how to manage your financial risk as well as some basic investing tips we've shared here before.

To close, I believe that it's all semantics when one compares investing to gambling. You're a gambler if you trust luck to take care of your fortunes in the markets. You're an investor if you've put careful thought into your investment plan and decide to execute your strategies accordingly. While both actions involve risk, they don't mean the same thing to me.

Permalink | 7 comments | Silicon Valley Blogger's blog | Channel: Investment

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Best Deals For Monday 7/6/09

Paul Michael — Mon, 06 Jul 2009 14:53:56 +0000

By Paul Michael

Today's WISEBUY. 6-7mm Cultured Freshwater Pearl Bracelet - $29.94 inc S/H (Was $100!)
This sweet and feminine bracelet is composed of beautifully matched freshwater potato and coin pearls and features a lovely sterling silver heart charm. Held together with an elasticed strand, this piece sits comfortably on the wrist.

1. FREE Book Downloads From Amazon (Many To Choose From)
Amazon has many free e-book downloads available right now, with no limits! These work with the Kindle or an IPod or MP3 player.

2. FREE Sample of Tea from TopQualitea.com
Free Tea! Apparently, it's grown on the foothills of the Himalayas in the Darjeeling region!

3. FREE Pint Of New Starbucks Ice-Cream (Facebook)
Surprise a friend with a coupon for a complimentary pint of new Starbucks® Ice Cream. Up to 20,000 free coupons for pints of new Starbucks® Ice Cream will be shared every day through July 19, quantities are limited to just over 800 pints per hour.

4. FREE Dairy Queen Blizzard With Fan Club Registration
Just register with the DQ fan club for your free blizzard.

5. Lands End Men's Beach Trekker Sandals - $10, FREE s/h (Use Code BLUE, Pin 2009)
Amazing deal just in time for summer. Sizes selling out fast. Four colors available. Springy insole, moisture-wicking mesh interior, light, sturdy sole gives hiking-boot traction.

6. 45-Piece ONEIDA Flatware Set 76% Off - Just $39.99 with FREE s/h (Save $130!)
Set includes: 8 each 5-piece Place Settings, 2 Serving Spoons, 1 Serving Fork, 1 Sugar Spoon, and 1 Butter Knife. 18/0 Stainless Steel Flatware. Dishwasher Safe.

7. Totally COOL Robot Lamp Just $12.99 with FREE s/h
You know you love Transformers, Buck Rogers, Lost in Space, Gort and yes, Data, so show it with this robot desk lamp. The helpful hands hold a pen or pencil and paper. Flexible joints allow for the configuration that best suits your needs. Includes bulb.

8. Up to 83% Off SOFTWALK Women's Shoes At 6PM.com (dealnews)
Today only, 6pm.com takes 79% to 83% off a selection of SoftWalk women's shoes, with all prices reduced to $19.95. Shipping adds $6.95.

9. Microsoft Laser Wireless Mouse and Keyboard set - Just $14.99 plus $4.99 s/h (today only)
Reduced from $100! Wireless laser keyboard with customizable keys and Mac modifier keys + 1000 dpi 5 button wireless mouse with tilt wheel 4-way scrolling, one button magnification, and Microsoft's Intelligent Tracking System

10. Graco Glider Safari Sun Stroller - $50.99 plus FREE s/h (Use Code 928555)
Moms love the simple 1-hand fold, a parent storage tray, the easy to access storage basket, and canopy with peek-a-boo window to see Baby at all times. For Baby's comfort there's multiple position seat recline, a 3- & 5-point harness and a removable child's tray with cup/snack holder.

EcoUsable Ech2o Stainless Steel Filtered Water Bottle GIVEAWAY!

Lynn Truong — Sun, 05 Jul 2009 06:51:46 +0000

By Lynn Truong

I feel the same way about plastic water bottles as Andrea (read her Bottled Water, Bottled Hype series), and many others who feel that it's disturbing that over 60 million plastic water bottles go into landfills every day. Even more disturbing are images like this one, showing the The Great Pacific Garbage Patch.

It's a stew of trash floating in the Pacific that's twice the size of Texas, floating between California and Hawaii.

The impact of our actions is clear and striking. We can each do our small part in relieving the problem.

EcoUsable is here to help with that! They've created the Ech2o, the world's first stainless steel filtered water bottle. Um..it's a stainless steel water bottle...with a filter inside it!! Get great-tasting, filtered water, anytime, anywhere! Drink from tap water, streams, rivers, lakes, and pools -- everything but salt water.

The filter not only reduces unpleasant taste, odor, chlorine, sand, and sediment, but also toxic chemicals, detergents, pesticides, and other harmful industrial and agricultural wastes. The 25 oz. bottles remove pollutants for up to 100 gallons, which lasts the average person about a year. Each bottle uses 304 food grade stainless steel that is non-leaching, BPA-free, reusable and lightweight!

Save money. Save the planet. It's that simple.

To get you started, EcoUsable sent us three Ech2o filtered water bottles to give away to our Wise Bread readers. To enter, leave a comment about ways to reduce your plastic use. Drawing ends on July 20. Only open to U.S. residents aged 18 and over, void where prohibited. Only one entry per person will be counted.

Even if you aren't one of the lucky winners, all Wise Bread readers can also get 10% off.

Permalink | 321 comments | Lynn Truong's blog | Channel: Green Living

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Big changes or small changes?

Philip Brewer — Sat, 04 Jul 2009 19:27:53 +0000

By Philip Brewer

There are two ways to make a major change in your life. One is to make a series of small changes--this month you might brown-bag your lunch one day a week; next month you might go for a short walk every day. The other is to make all your changes at once--cook all your own meals, exercise daily, and turn your hobby into a business. Either way can produce permanent changes for the better.

There are a lot of advocates for the strategy of making small changes one at a time. Practice one good habit regularly, and soon enough it will be a comfortable part of your life. A year's worth of such improvements can bring you to a very different place than where you started. All it takes is a willingness to try, persistence, and a little patience.

I think, though, that the strategy of making big changes has its place. I see it as being appropriate when big changes are urgently needed, and especially when big changes are inevitable.

Piggyback on inevitable change

Sometimes your life is simply going to change--you're going away to school, you're changing jobs, you're moving, you're getting married or divorced, your child is being born or going away to college. Times like these, many things about your life are going to change anyway--why not be strategic about it?

When you have to make a whole new schedule anyway, you have a natural opportunity to make big changes. Such a thing is always stressful, and the natural response to stress is to seek comfort and familiarity. Use that to your benefit.

Take a few minutes to think about the things that give you comfort and pleasure--and then think of which of those things are good for you. Make a list of comforts that are healthy and cheap--phone calls with old friends, long walks in the evening, visiting the library, reading the Sunday paper.

Then, when you make a new schedule to suit your new circumstances, go ahead and make an ideal schedule--include all the stuff you know you should do and leave out all the stuff that you know you shouldn't do--but be sure to include an abundance of things from your list of comforts. (The birth of a new baby or starting a new job might seem to leave little or no time for simple comforts, but you can almost surely make time for some by leaving out the things you want to quit doing.)

Will it work? Maybe not. Maybe it won't work at all, and you'll have to go the slow route, taking small steps. But if you try the experiment when your schedule is all up in the air anyway, I think it's at least safe--you're not likely to end up further from where you want to be than you started. You're not even likely to lose any time that might have been spent adding one small habit--it's probably silly to try to make one more small change when you're already in the midst of major changes.

If you're not in the midst of major changes, it's more of an open question--because then you are losing time that might be spent making small changes. It could still work--people make big changes in their life all the time, even if many try and fail. If you want to make big changes, and if you've never tried--or haven't tried in a long time--it may be an experiment worth trying.

If not, small changes are another way to get where you're going. Not even a slow way, necessarily. Small changes can add up fast.

Permalink | 7 comments | Philip Brewer's blog | Channel: General Tips

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Budgeting for Your Next Vacation: Yaycations

Nora Dunn — Sat, 04 Jul 2009 06:49:41 +0000

By Nora Dunn

Travel Muse has a fun tool that combines the drudgery of finding money in a budget with the instantaneous gratification of discovering how your budgeting sacrifices will pay off.

It is their Yaycations Calculator, and it is a free and fun way to become inspired.

Simply go through the exercise of “finding money” as guided in the calculator, and you would be surprised at what you can save. Heck – I’m a money-wise full-time traveler, and apparently even I can stand to save a few bucks.

I will admit that although principle of the exercise is good, the calculator itself is very general and there is no room for customizing expenses or finding less traditional ways to save money. It is simply intended to be a quick way to make you realize that you could go on vacation – sooner than you thought.

Once you have the magic number of dollars that you can save (by, for example, drinking less coffee, buying fewer shoes, and cutting back on groceries), now you can see where that money will take you.

Choose from an assortment of travel styles (such as family, cuisine, museums, nature, mountains, amusement parks, beaches, etc), select your departure city, and marvel at the places you can go that fit into your newly acquired travel budget.

Although it may not help you plan your finances, the Yaycations Calculator could give you a few cool vacation ideas, and might just give you the incentive to start planning for your next trip now.

Permalink | 3 comments | Nora Dunn's blog | Channel: Art and Leisure, Budgeting, Lifestyle

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