I always carry between $20 and $40 cash. It's especially good for making purchases at small local businesses. Processing credit or debit cards costs them more money, either a percentage of the transaction cost or a flat rate that nickel-and-dimes them to death. Large retailers buy authorizations in bulk, and get preferential rates.
"re: Interest Rates - ING 's Orange Savings Account (a liquid guaranteed investment which many seniors gravitate towards) is currently paying out 4.3% interest. If this is off base and there are other liquid guaranteed investments that yield higher returns, then please do share them with us all! I'd love to see what "accurate" looks like. I'm game for making the most money that I can!"
I can list over 10 different accounts from various brokers, banks, credit card companies and other financial institutions that all pay over 5%.
Every single one of them liquid. Every single one of them FDIC insured.
Thing I don't get is how anyone, I mean anyone, can't find them. I just received in the mail today an offer for a money market account from a credit card company yielding better than 5%. You can't search the web for such accounts and not find them. I'm currently yielding 6% on a savings account (though the rate on this one is set to readjust at the end of September).
Yeah, some have limitations like high minimum balances but put into the context of the scenario presented it is a non-issue.
I'm sorry, but if you can't find a wealth of offers yielding better than 5% something is terribly wrong.
I live in a rural area. I drove to a town an hour away to do some shopping, and turns out some goodfornothing slimeball had cut the phone lines going into the town, so there was NO debit or credit card service, the places I wanted to go didn't accept cheques, and my bank didn't have a branch in that area, so I couldn't get any more cash either. Waste of half a day and probably twenty bucks in gas.
I find there are lots of times when you need to spend just a dollar or two, and more and more businesses will not take plastic for purchases under $5.
. . . were you in one of my classes during my teaching years? Just kidding. I recognized the strategy from years gone by of teaching younger grades. Brought back a chuckle . . .
I recently used a rubber band to put a housefly out of the misery of my co-workers and myself. It took two tries to nail the little winged pest; but I nailed him (or her). :)
The thick ones .. . thanks for posting that. I ran across that idea previously, but it didn't mention the thickness part, so I couldn't quite picture it. Thanks for contributing!
I carry and use cash all the time because I participate in Where's George.
Aside from that, one reason to have cash on hand is if you're with a group of people at a restaurant and you're paying a restaurant check. If everyone has cash, then it's easier to split the check.
Instead of having one of those stupid rubberized disks around I put elastic bands (especially the thick ones that come with produce) around the sides of the jar lid to help me get them open.
The disaster case is a reason not only to carry a small amount of cash, but to have a larger amount of cash at home as part of your home emergency kit--at least enough to cover a week of emergency expenses.
I disagree with the last guest comment--there are occasions where bank and ATM networks fail, even without Katrina-scale disasters. There have been several cases lately where a large bank has shut off ATM service to certain foreign countries due to a security exposure, for example.
Sunny, I think you may be taking it a little far. Our banking system is much more secure than that. Not a single person's atm / debit card was rendered useless because banks were underwater.
OK, that's one of those tips that just might change my life. Salt sometimes works if you can get it soon enough, but this looks like it might work for slightly older stains as well. Gotta write this one down. . . .
I have to say, I think it all boils down to discipline as far as how much you spend. If you don't have that completely down yet, then I guess you need to fall on whatever side of this "coin" works for you. I'm sort of where you are Philip, it's my money either way and I spend it accordingly. But I have to admit, in my younger years I didn't necessarily have that discipline, so I needed to use whatever tricks I needed to keep myself in line.
Either way, an interesting discussion topic. Have a great day, everybody!
I'm with you on that. It's one of the reasons I believe so strongly in what Wise Bread is trying to do. I've always been an educator at heart.
With things the way they are these days, I feel that financial education is more important than ever. Gaining independence from the rat race early has enable us to focus completely on projects and ideas that we value greatly. Can you imagine the power of what our world could be like if everyone was in such a place?
Just a minor correction, the solar shower does not have solar panels (photovoltaic cells). It is simply made of dark, heat-absorbing material, so, just as a car with a black paint job becomes stiflingly hot after an hour at the grocery store, the solar shower acts as an oven heating the water inside. Furthermore, if it used photovoltaic cells, the cost for the unit would be considerably greater than $10.
I'm not sure this will work in every court... If it doesn't.. once you've paid the fine it will be hard to reopen it if you can at all.. you may be stuck with increased insurance and DMV taxes.. I'd suggest just fighting it with the help of an lawyer.
@John & Paul, re:What?
I can see a bit of what you mean, John. How would we spread this information pre-blog and YouTube? Pamphlets printed in my basement while my children slept and the laundry ran? How the mean old govt. is corrupt and big business is scamming the average family.
It's a different audience. There are an awful lot of us. We're tech savvy, we're wiser and it's completely "in" to be aware. We have a sense of humor and we fight via commerce, how and where we spend our money. A latte, a laptop and multitabbing at naptime. It's so much more civilized. I dig.
Thanks Myscha for your understanding that this is just a concept, separate from what a full financial plan should look like. In fact, I also mentioned something to this effect in my last comment here.
re: Interest Rates - ING 's Orange Savings Account (a liquid guaranteed investment which many seniors gravitate towards) is currently paying out 4.3% interest. If this is off base and there are other liquid guaranteed investments that yield higher returns, then please do share them with us all! I'd love to see what "accurate" looks like. I'm game for making the most money that I can!
"But it is a great suggestion if you happen to sell either of or both of these vehicles. Commissions are a wonderful thing."
I hope this isn't an implication that I might be trying to gain business through Wise Bread. I couldn't make commissions or get business through Wise Bread if I wanted to! Belive it or not, I actually just write to educate and provide thought-provoking articles.
It's such a shame that we are constantly shrouded in suspicion of being "pitched" to in some way, or fearful that a hidden agenda is always prevalent. It says something scary about our society in general.
I always carry between $20 and $40 cash. It's especially good for making purchases at small local businesses. Processing credit or debit cards costs them more money, either a percentage of the transaction cost or a flat rate that nickel-and-dimes them to death. Large retailers buy authorizations in bulk, and get preferential rates.
Can I get your boyfriend's parents' address? ;-)
a wire up over the top of the garage, in the gap between the garage door and the wall. Make sense?
"re: Interest Rates - ING 's Orange Savings Account (a liquid guaranteed investment which many seniors gravitate towards) is currently paying out 4.3% interest. If this is off base and there are other liquid guaranteed investments that yield higher returns, then please do share them with us all! I'd love to see what "accurate" looks like. I'm game for making the most money that I can!"
I can list over 10 different accounts from various brokers, banks, credit card companies and other financial institutions that all pay over 5%.
Every single one of them liquid. Every single one of them FDIC insured.
Thing I don't get is how anyone, I mean anyone, can't find them. I just received in the mail today an offer for a money market account from a credit card company yielding better than 5%. You can't search the web for such accounts and not find them. I'm currently yielding 6% on a savings account (though the rate on this one is set to readjust at the end of September).
Yeah, some have limitations like high minimum balances but put into the context of the scenario presented it is a non-issue.
I'm sorry, but if you can't find a wealth of offers yielding better than 5% something is terribly wrong.
Hmmm. Couldn't you just continue to take an old $1 bill and turn it into an old $100 bill?
Am I missing something here?
I live in a rural area. I drove to a town an hour away to do some shopping, and turns out some goodfornothing slimeball had cut the phone lines going into the town, so there was NO debit or credit card service, the places I wanted to go didn't accept cheques, and my bank didn't have a branch in that area, so I couldn't get any more cash either. Waste of half a day and probably twenty bucks in gas.
I find there are lots of times when you need to spend just a dollar or two, and more and more businesses will not take plastic for purchases under $5.
. . . were you in one of my classes during my teaching years? Just kidding. I recognized the strategy from years gone by of teaching younger grades. Brought back a chuckle . . .
Thanks for posting.
I recently used a rubber band to put a housefly out of the misery of my co-workers and myself. It took two tries to nail the little winged pest; but I nailed him (or her). :)
The thick ones .. . thanks for posting that. I ran across that idea previously, but it didn't mention the thickness part, so I couldn't quite picture it. Thanks for contributing!
I carry and use cash all the time because I participate in Where's George.
Aside from that, one reason to have cash on hand is if you're with a group of people at a restaurant and you're paying a restaurant check. If everyone has cash, then it's easier to split the check.
Instead of having one of those stupid rubberized disks around I put elastic bands (especially the thick ones that come with produce) around the sides of the jar lid to help me get them open.
The disaster case is a reason not only to carry a small amount of cash, but to have a larger amount of cash at home as part of your home emergency kit--at least enough to cover a week of emergency expenses.
I disagree with the last guest comment--there are occasions where bank and ATM networks fail, even without Katrina-scale disasters. There have been several cases lately where a large bank has shut off ATM service to certain foreign countries due to a security exposure, for example.
Sunny, I think you may be taking it a little far. Our banking system is much more secure than that. Not a single person's atm / debit card was rendered useless because banks were underwater.
I HATE U LOL that scary vid scared the chit out of me i didnt even read the warning i jsut watched the vid lol.
anyway u said not to clean in a circular motion and u were cleaning in a circular motion get ur facts straight buddy
Wikipedia by its nature has always been open to abuse.
Why people trust it as an impartial source is beyond my ken.
Wikipedia is akin to a bathroom wall where anyone can add graffiti, from morons to even congressman and Microsoft execs.
Do you trust to be true what you read scrawled on a bathroom wall?
Just another example of the dumbing down of America.
OK, that's one of those tips that just might change my life. Salt sometimes works if you can get it soon enough, but this looks like it might work for slightly older stains as well. Gotta write this one down. . . .
I have to say, I think it all boils down to discipline as far as how much you spend. If you don't have that completely down yet, then I guess you need to fall on whatever side of this "coin" works for you. I'm sort of where you are Philip, it's my money either way and I spend it accordingly. But I have to admit, in my younger years I didn't necessarily have that discipline, so I needed to use whatever tricks I needed to keep myself in line.
Either way, an interesting discussion topic. Have a great day, everybody!
I'm with you on that. It's one of the reasons I believe so strongly in what Wise Bread is trying to do. I've always been an educator at heart.
With things the way they are these days, I feel that financial education is more important than ever. Gaining independence from the rat race early has enable us to focus completely on projects and ideas that we value greatly. Can you imagine the power of what our world could be like if everyone was in such a place?
Keep those financial strategies coming, Nora!!!!!
Frugal Hacks is the new kid on the block, so thanks for noticing and mentioning our link. It's always nice to feel welcome when you're new.
Just a minor correction, the solar shower does not have solar panels (photovoltaic cells). It is simply made of dark, heat-absorbing material, so, just as a car with a black paint job becomes stiflingly hot after an hour at the grocery store, the solar shower acts as an oven heating the water inside. Furthermore, if it used photovoltaic cells, the cost for the unit would be considerably greater than $10.
first of all IDIOT, car batteries are Wet Cell. all the batteries we use in our electronics are dry cell.
and cracking open a car battery could KILL you! There's far more Amps in a car battery than in these things.
Paul - isn't the emergency rope on the INSIDE of the garage? How would a guy standing outside manage to pull it?
I'm not sure this will work in every court... If it doesn't.. once you've paid the fine it will be hard to reopen it if you can at all.. you may be stuck with increased insurance and DMV taxes.. I'd suggest just fighting it with the help of an lawyer.
@John & Paul, re:What?
I can see a bit of what you mean, John. How would we spread this information pre-blog and YouTube? Pamphlets printed in my basement while my children slept and the laundry ran? How the mean old govt. is corrupt and big business is scamming the average family.
It's a different audience. There are an awful lot of us. We're tech savvy, we're wiser and it's completely "in" to be aware. We have a sense of humor and we fight via commerce, how and where we spend our money. A latte, a laptop and multitabbing at naptime. It's so much more civilized. I dig.
Thanks Myscha for your understanding that this is just a concept, separate from what a full financial plan should look like. In fact, I also mentioned something to this effect in my last comment here.
re: Interest Rates - ING 's Orange Savings Account (a liquid guaranteed investment which many seniors gravitate towards) is currently paying out 4.3% interest. If this is off base and there are other liquid guaranteed investments that yield higher returns, then please do share them with us all! I'd love to see what "accurate" looks like. I'm game for making the most money that I can!
"But it is a great suggestion if you happen to sell either of or both of these vehicles. Commissions are a wonderful thing."
I hope this isn't an implication that I might be trying to gain business through Wise Bread. I couldn't make commissions or get business through Wise Bread if I wanted to! Belive it or not, I actually just write to educate and provide thought-provoking articles.
It's such a shame that we are constantly shrouded in suspicion of being "pitched" to in some way, or fearful that a hidden agenda is always prevalent. It says something scary about our society in general.