I think it's possible, (to those who feel credit is just a fair practice), that if it were not for credit and even insurance, that the overall cost of daily life would be much lower. Imagine a world, where people actually had enough money to get what they need. Notice I said need, not want!!
Caramelized onions -- cheap and easy -- add a depth to any dish utilizing onions; just start cooking them on their own long before (15 min) you add any other ingredients.
1T of nut butter (peanut or almond or cashew) adds richness and depth to almost any soup, without actually adding a "nutty" flavor.
ok, I have to agree on #1 with you. It is really sad that education is not meant for the masses in the USA.
2.- We also have to pay health insurance. But it is just a normal bill per month. We just put it in the budget. I personally pay the equivalent of about 150 USD per month. I don't put it on credit.
3.- If you are young and can't afford a house then don't buy one. The mortgage only makes sense if in real terms it saves you
rent money and by real terms I real mean doing the math on the cost of the mortgage and the closing charges, etc. vs the price of the rent. The kids will grow just as fine in a rented apartment as in a house.
4.- "wish to buy" can include too many things you don't need. And getting "mocked" for owing a "simple" car as a need for credit to buy something more sofisticated doesn't sound to me like a strong argument.
I stay ut of businesses because I was just talking about individuals but I still find it bad planning when a farmer that grows stuff year after year fails to just set aside a portion of last years income for next year seeds.
The kind of over-the-top anti-American bigotry and hatred of "Low Corruption Canadian" is reminiscent of the kind of pro-Soviet propaganda spread during the Cold War.
Whose "educational legacy" was Harry Truman, Richard Nixon, Gerald Ford, Bill Clinton, Jimmy Carter, Ronald Reagan, or for that matter, Barack Obama?
"Pay or die?" Any homeless bum who gets hit by a truck in any major American city is likely to get the best emergency trauma care availabale in the world.
Tax policy makes the American middle class "work more for less?" Lie if it makes you feel better. The truth is that Americans work more for MORE, and because we can, unlike the countries of our critics, where unemployment is always double our own, work has to be rationed because there's so little of it to go around, and large numbers of people (probably including Low Corruption Canadian) never hold a real job.
As for the way we "treat other nations and international organizations," all I can say is, "I wish." I wish we would stop throwing money away on the UN and its innumerable hangers-on. I wish we could "extort" so much as a Thank You note from the countries we've defended, protected or liberated at the cost of thousands, or hundreds of thousands, of American lives.
"Low Corruption Canadian" might have been happier with the Third Reich, or the old Soviet Union as the world's superpower, or may prefer China today, or an Islamic Caliphate tomorrow. Too bad he's stuck with us, for all our flaws. And too bad we're stuck with him, who will not be satisfied until we are destroyed, with no thought to who will fill the gap we leave behind. Whick, by the way, won't be Canada, Denmark, New Zealand or Sweden.
Hiring your friends over the most qualified isn't corruption - its helping family and friends. If they aren't the most qualified, then your company may suffer as the most qualified will likely be hired by someone else.
I think maybe my last post was too strongly worded. I apologize to anyone I may have offended by it.
I do believe that the program is a scam, pure snake oil. And I am concerned that someone will fall for it and have it cost them wasted money. Actually, I am pretty sure that many people HAVE fallen for it but I don't mean to disparage anyone.
This program is a scam. Only the mathematically unsure of themselves could be tricked by it. There is no "sophisticated" program that can give you a better return than paying as much as you can, as early as you can, on your mortgage. Taking out a HELOC to "prepay" your mortgage just means you are getting additional interest charges, and the borrowed cash would need to be paid back as well. Plus you are paying this company to run their "program" for you.
amero new currency is here to stay mexico need a dateline already and is gonna be by 2009 thru 2010, thats the word out there, usa need to pay more than 300 trillions in interest to china ,and china is already waiting to happen soon, usa giving up the dollar is around the corner along with mexico and canada,theres some rumors about the superhighway is under construction already,in texas,and texas people dont know about it,so just be alert about whats happening around us cause there a lot of new laws and you dont know about it, theres a lot government secrets ,and they dont want you to know nothing
Great article, Philip. I particularly liked your advice to "nail down the cash"--this is exactly what my wife and I did when I decided that I was going to quit my job. I knew more than a year in advance that I was going to quit at some point, so my wife set up a budget and we began cutting our expenses *before* I left my job, so that we could get a feel for how long we could make it on just her income, and to put some money away into savings. This also gave us a better idea of what it would be like to live on a significantly-reduced income (and frankly, it hasn't been that hard). I left my job eleven months ago, and in that time I've had the freedom and flexibility to create a new business for myself and pursue a new career path, thanks to my wife's wisdom and planning.
There are many working parts to the problem. 1) Fed easing rates from 2002-2004. 2)FHA loosened up requirements on down payments. 3) Strengthening of the community reinvestment act, resulting in banks being pressured into making risky loans. 4) H.U.D. setting quotas for freddie and fannie to make loans to people who were not good risks. Most importantly 5) Expansion of freddie mac, and fannie mae, based on the premise that the tax payer will cover their back.
I think we need to resolve that it is unrealistic to try to promote home ownership to people who can not afford them. It is an injustice to the people who the homes are sold to, as well as entire rest of the economy.
Cindy, thanks for pointing out that it is the cost of attendance (private or public) and not just scholarship dollars that is important. I admit to bias for public schools as my alma mater is often ranked as a best value among public colleges and universities. My main concern is that my kids would get first-year scholarships that would make the cost seem attractive at first, and then have to pay more in later years.
Don't make the mistake of thinking all private colleges are more expensive than the state universities. Do your homework on all schools of any interest to the student. Lots of times scholarships are abundant in private colleges. My son is currently attending a private school that yearly rate is $34,000. We are paying around $7,500 for this year's tution, because of all the scholarships he was eligible for, next year there will be more scholarships available to him. He never wrote one essay! Had he attended our local state university which average yearly rate is $17,000 we would be paying around $11,000. And no we did not meet either of the school's "lower income status" for specail funds and grants. Checking out these colleges does take a lot of time but in the long run it saves big dollars.
1. Our educational system is not funded through taxes. Most of it is privately owned. It costs a lot to attend. Credit allows people without sufficient money to attend college.
2. We don't have socialized health care. Instead, we have insurance, but some 50 million people lack insurance. For many them, credit allows them to purchase some health care. Some old stats said that 70% of bankrupt people have put health care costs on credit cards.
3. The cost of a house typically exceeds the income and savings of families that are young and want a house to raise a family. A mortgage is used to purchase the house.
4. Many people need a car, but don't have enough to pay for the car they wish to buy. The auto industry wishes to make a profit. So they issue credit so these people can buy cars. (In countries without credit, the cars are simpler, but these cars are mocked in the West.)
5. Businesses have uneven cash flow, but have a pretty steady set of expenses to pay. Credit is used by business to ride out these periods of low income.
6. Farms buy seed at one time of the year, and sell their product at a later time. They use credit to buy the seed, and pay it back when the crop is sold.
I use it more on my tub to get out lime. Spraying the bottom of the tub & letting it sit for about 10 minutes. Can use a sponge by spraying the sponge first to wipe down the walls of the tub. I like to rinse it off once it has done it wonders. No other stain remover works on my tub like Dreft does. No toxic fumes to smell! Love it. Read online that it was used in a nursing home on soiled clothes prior to washing. Now if just wasn't so hard to find in grocery stores.
I think that it's always worth looking into National Merit and other test-based scholarships — there's no limitation on the basis of a family's expected contribution and many schools offer full rides for qualifying students.
I did well enough on my PSAT and SATs to receive National Merit — and my university gave me a full ride for my effort. Excellent ROI.
I got laid off recently, and I have been focusing mainly on what I want to do with my life and not so much on the financial side of my life. So this is a very practical advise.
My husband and I lived in London for a year. Traveling Europe was cheap...if you flew at 5 a.m. and avoided taking taxis. To get to the airport while the tube was still open to bring us to the train station, which subsequently took us to the airport, you had to leave the night before. We left at 9 p.m., which gave us sufficient time to scout out a good sleeping spot.
Tips? Avoid any seating areas near Burger King's and Mcdonald's. Fast food places usually stay open all night and have music playing too loud. Starbucks, however, closes early and if you score, has comfortable lounge chairs which you can push together for a bed.
We would tie our suitcases to our feet so no one would try to take them. We would sleep with valuables in our pillowcases or carry-ons which we kept under our heads. You can also check luggage overnight at a storage place for about 5 dollars at some airports which is good for peace of mind.
EARPLUGS and something to cover your eyes are key! I wore a lot of hooded sweatshirts since they provided extra padding and kept my head warm.
When sleeping alone, paranoia can ruin a good night's sleep. Try to find someone who is already sleeping and camp out near them.
Pack a benadryl or light sleeping pill to help encourage Z's.
Bring an empty pillowcase with your change of clothes as the stuffing for it...remember, comfortable clothes for the next day's flight means comfortable head rest...plus it saves luggage space.
Towels can double as floormats, not so much for comfort, but for sanitary reasons.
We used to see other older couples all the time camping out at Gatwick airport. They arrived earlier-around 7-8. Since their was no security to get into the lounge areas of the airport, people often brought bottles of wine and would read a book until they fell asleep. Some would bring portable radios. At least they made saving money more luxurious.
These are excellent ideas to help fund your wedding and totally agree that all the planning and hard decisions to make will help prepare the couple for married life.
There are also many areas where couples can make big savings by breaking some conventions. For example wedding cakes are horrendously expensive and huge savings can be made my having a less fancy cake or not made commercially. I've even heard of a company that hires big fancy cakes so a cheap supermarket or home made cake can be given to the guests.
Another great way to make big savings is to only have family and bridal party for the meal, only inviting wider friends in the evening.
For a online postcard service that allows you to send your own photos as postcards ANYWHERE in the world for a fixed price check out SendIt4.me. There is also a facebook version available
"Making non-financial investments (such as insulating your house, buying good tools, or stocking up when there are good sales on grocery items) are often both more profitable" than purely financial investments because they are real, not abstracted, and have a "real" practical effect that you can enjoy. They are in my view the most fundamental form of investment--and generally involve making some systemic/infrastructural change that increases your bottom line by either making existing expenses in energy or time more efficient, or by decreasing your need for a given item.
Actually, I'd be much more interested in the guy who carefully buys in bulk than the one who made a killing on biotech stocks :-)
To me, the #1 reason for stocking the pantry and fridge is that it is an enormous pain to drag the kids to the store for a big shopping trip, and I prefer to do it as little as possible.
Other advantages:
Less trash. I buy mostly from bulk bins, thereby generating little waste. Since I have less packaging waste, I can use the smaller trash can for trash pickup and save a little money there as well, in addition to causing less environmental harm.
Much less driving. The store with the best (bulk) prices is a 20 min (each way) drive away. The savings on fuel from only going once a month is substantial.
Peace of mind. I don't have to worry about feeding the kids if there's a storm that closes the roads, or if I'm sick with the flu and can't go out to shop. I don't have to worry about the cat chewing my arm off in my sleep if I forget to buy her food :-)
Space! In fact, it requires proportionally LESS space to store bulk staples than heavily packaged, processed convenience foods. That 20 lbs of flour becomes a heckuva lot of bread.
I think it's possible, (to those who feel credit is just a fair practice), that if it were not for credit and even insurance, that the overall cost of daily life would be much lower. Imagine a world, where people actually had enough money to get what they need. Notice I said need, not want!!
Caramelized onions -- cheap and easy -- add a depth to any dish utilizing onions; just start cooking them on their own long before (15 min) you add any other ingredients.
1T of nut butter (peanut or almond or cashew) adds richness and depth to almost any soup, without actually adding a "nutty" flavor.
ok, I have to agree on #1 with you. It is really sad that education is not meant for the masses in the USA.
2.- We also have to pay health insurance. But it is just a normal bill per month. We just put it in the budget. I personally pay the equivalent of about 150 USD per month. I don't put it on credit.
3.- If you are young and can't afford a house then don't buy one. The mortgage only makes sense if in real terms it saves you
rent money and by real terms I real mean doing the math on the cost of the mortgage and the closing charges, etc. vs the price of the rent. The kids will grow just as fine in a rented apartment as in a house.
4.- "wish to buy" can include too many things you don't need. And getting "mocked" for owing a "simple" car as a need for credit to buy something more sofisticated doesn't sound to me like a strong argument.
I stay ut of businesses because I was just talking about individuals but I still find it bad planning when a farmer that grows stuff year after year fails to just set aside a portion of last years income for next year seeds.
The kind of over-the-top anti-American bigotry and hatred of "Low Corruption Canadian" is reminiscent of the kind of pro-Soviet propaganda spread during the Cold War.
Whose "educational legacy" was Harry Truman, Richard Nixon, Gerald Ford, Bill Clinton, Jimmy Carter, Ronald Reagan, or for that matter, Barack Obama?
"Pay or die?" Any homeless bum who gets hit by a truck in any major American city is likely to get the best emergency trauma care availabale in the world.
Tax policy makes the American middle class "work more for less?" Lie if it makes you feel better. The truth is that Americans work more for MORE, and because we can, unlike the countries of our critics, where unemployment is always double our own, work has to be rationed because there's so little of it to go around, and large numbers of people (probably including Low Corruption Canadian) never hold a real job.
As for the way we "treat other nations and international organizations," all I can say is, "I wish." I wish we would stop throwing money away on the UN and its innumerable hangers-on. I wish we could "extort" so much as a Thank You note from the countries we've defended, protected or liberated at the cost of thousands, or hundreds of thousands, of American lives.
"Low Corruption Canadian" might have been happier with the Third Reich, or the old Soviet Union as the world's superpower, or may prefer China today, or an Islamic Caliphate tomorrow. Too bad he's stuck with us, for all our flaws. And too bad we're stuck with him, who will not be satisfied until we are destroyed, with no thought to who will fill the gap we leave behind. Whick, by the way, won't be Canada, Denmark, New Zealand or Sweden.
Hiring your friends over the most qualified isn't corruption - its helping family and friends. If they aren't the most qualified, then your company may suffer as the most qualified will likely be hired by someone else.
I think maybe my last post was too strongly worded. I apologize to anyone I may have offended by it.
I do believe that the program is a scam, pure snake oil. And I am concerned that someone will fall for it and have it cost them wasted money. Actually, I am pretty sure that many people HAVE fallen for it but I don't mean to disparage anyone.
This program is a scam. Only the mathematically unsure of themselves could be tricked by it. There is no "sophisticated" program that can give you a better return than paying as much as you can, as early as you can, on your mortgage. Taking out a HELOC to "prepay" your mortgage just means you are getting additional interest charges, and the borrowed cash would need to be paid back as well. Plus you are paying this company to run their "program" for you.
This is a scam to mislead the misleadable.
amero new currency is here to stay mexico need a dateline already and is gonna be by 2009 thru 2010, thats the word out there, usa need to pay more than 300 trillions in interest to china ,and china is already waiting to happen soon, usa giving up the dollar is around the corner along with mexico and canada,theres some rumors about the superhighway is under construction already,in texas,and texas people dont know about it,so just be alert about whats happening around us cause there a lot of new laws and you dont know about it, theres a lot government secrets ,and they dont want you to know nothing
Great article, Philip. I particularly liked your advice to "nail down the cash"--this is exactly what my wife and I did when I decided that I was going to quit my job. I knew more than a year in advance that I was going to quit at some point, so my wife set up a budget and we began cutting our expenses *before* I left my job, so that we could get a feel for how long we could make it on just her income, and to put some money away into savings. This also gave us a better idea of what it would be like to live on a significantly-reduced income (and frankly, it hasn't been that hard). I left my job eleven months ago, and in that time I've had the freedom and flexibility to create a new business for myself and pursue a new career path, thanks to my wife's wisdom and planning.
Thanks for the mention. I appreciate it. Great post. Nice to see someone point out the childcare and burn out issues.
There are many working parts to the problem. 1) Fed easing rates from 2002-2004. 2)FHA loosened up requirements on down payments. 3) Strengthening of the community reinvestment act, resulting in banks being pressured into making risky loans. 4) H.U.D. setting quotas for freddie and fannie to make loans to people who were not good risks. Most importantly 5) Expansion of freddie mac, and fannie mae, based on the premise that the tax payer will cover their back.
I think we need to resolve that it is unrealistic to try to promote home ownership to people who can not afford them. It is an injustice to the people who the homes are sold to, as well as entire rest of the economy.
Way to go Thursday!
Cindy, thanks for pointing out that it is the cost of attendance (private or public) and not just scholarship dollars that is important. I admit to bias for public schools as my alma mater is often ranked as a best value among public colleges and universities. My main concern is that my kids would get first-year scholarships that would make the cost seem attractive at first, and then have to pay more in later years.
Don't make the mistake of thinking all private colleges are more expensive than the state universities. Do your homework on all schools of any interest to the student. Lots of times scholarships are abundant in private colleges. My son is currently attending a private school that yearly rate is $34,000. We are paying around $7,500 for this year's tution, because of all the scholarships he was eligible for, next year there will be more scholarships available to him. He never wrote one essay! Had he attended our local state university which average yearly rate is $17,000 we would be paying around $11,000. And no we did not meet either of the school's "lower income status" for specail funds and grants. Checking out these colleges does take a lot of time but in the long run it saves big dollars.
Why do we need credit?
1. Our educational system is not funded through taxes. Most of it is privately owned. It costs a lot to attend. Credit allows people without sufficient money to attend college.
2. We don't have socialized health care. Instead, we have insurance, but some 50 million people lack insurance. For many them, credit allows them to purchase some health care. Some old stats said that 70% of bankrupt people have put health care costs on credit cards.
3. The cost of a house typically exceeds the income and savings of families that are young and want a house to raise a family. A mortgage is used to purchase the house.
4. Many people need a car, but don't have enough to pay for the car they wish to buy. The auto industry wishes to make a profit. So they issue credit so these people can buy cars. (In countries without credit, the cars are simpler, but these cars are mocked in the West.)
5. Businesses have uneven cash flow, but have a pretty steady set of expenses to pay. Credit is used by business to ride out these periods of low income.
6. Farms buy seed at one time of the year, and sell their product at a later time. They use credit to buy the seed, and pay it back when the crop is sold.
I use it more on my tub to get out lime. Spraying the bottom of the tub & letting it sit for about 10 minutes. Can use a sponge by spraying the sponge first to wipe down the walls of the tub. I like to rinse it off once it has done it wonders. No other stain remover works on my tub like Dreft does. No toxic fumes to smell! Love it. Read online that it was used in a nursing home on soiled clothes prior to washing. Now if just wasn't so hard to find in grocery stores.
Hi Tom I have been trying to sell my on the Hair Trader for some time now......If your are serious maybe we can talk..
I think that it's always worth looking into National Merit and other test-based scholarships — there's no limitation on the basis of a family's expected contribution and many schools offer full rides for qualifying students.
I did well enough on my PSAT and SATs to receive National Merit — and my university gave me a full ride for my effort. Excellent ROI.
just get out of your credit card debt. How? Well start by never using them unless it is an emergency. Next- pay off as much as you can every month.
I got laid off recently, and I have been focusing mainly on what I want to do with my life and not so much on the financial side of my life. So this is a very practical advise.
My husband and I lived in London for a year. Traveling Europe was cheap...if you flew at 5 a.m. and avoided taking taxis. To get to the airport while the tube was still open to bring us to the train station, which subsequently took us to the airport, you had to leave the night before. We left at 9 p.m., which gave us sufficient time to scout out a good sleeping spot.
Tips? Avoid any seating areas near Burger King's and Mcdonald's. Fast food places usually stay open all night and have music playing too loud. Starbucks, however, closes early and if you score, has comfortable lounge chairs which you can push together for a bed.
We would tie our suitcases to our feet so no one would try to take them. We would sleep with valuables in our pillowcases or carry-ons which we kept under our heads. You can also check luggage overnight at a storage place for about 5 dollars at some airports which is good for peace of mind.
EARPLUGS and something to cover your eyes are key! I wore a lot of hooded sweatshirts since they provided extra padding and kept my head warm.
When sleeping alone, paranoia can ruin a good night's sleep. Try to find someone who is already sleeping and camp out near them.
Pack a benadryl or light sleeping pill to help encourage Z's.
Bring an empty pillowcase with your change of clothes as the stuffing for it...remember, comfortable clothes for the next day's flight means comfortable head rest...plus it saves luggage space.
Towels can double as floormats, not so much for comfort, but for sanitary reasons.
We used to see other older couples all the time camping out at Gatwick airport. They arrived earlier-around 7-8. Since their was no security to get into the lounge areas of the airport, people often brought bottles of wine and would read a book until they fell asleep. Some would bring portable radios. At least they made saving money more luxurious.
here is a $25 coupon from restaurant.com, no purchase necessary http://www.freewithtrial.com/
These are excellent ideas to help fund your wedding and totally agree that all the planning and hard decisions to make will help prepare the couple for married life.
There are also many areas where couples can make big savings by breaking some conventions. For example wedding cakes are horrendously expensive and huge savings can be made my having a less fancy cake or not made commercially. I've even heard of a company that hires big fancy cakes so a cheap supermarket or home made cake can be given to the guests.
Another great way to make big savings is to only have family and bridal party for the meal, only inviting wider friends in the evening.
For a online postcard service that allows you to send your own photos as postcards ANYWHERE in the world for a fixed price check out SendIt4.me. There is also a facebook version available
"Making non-financial investments (such as insulating your house, buying good tools, or stocking up when there are good sales on grocery items) are often both more profitable" than purely financial investments because they are real, not abstracted, and have a "real" practical effect that you can enjoy. They are in my view the most fundamental form of investment--and generally involve making some systemic/infrastructural change that increases your bottom line by either making existing expenses in energy or time more efficient, or by decreasing your need for a given item.
You wrote:
It's not sexy
Actually, I'd be much more interested in the guy who carefully buys in bulk than the one who made a killing on biotech stocks :-)
To me, the #1 reason for stocking the pantry and fridge is that it is an enormous pain to drag the kids to the store for a big shopping trip, and I prefer to do it as little as possible.
Other advantages:
Less trash. I buy mostly from bulk bins, thereby generating little waste. Since I have less packaging waste, I can use the smaller trash can for trash pickup and save a little money there as well, in addition to causing less environmental harm.
Much less driving. The store with the best (bulk) prices is a 20 min (each way) drive away. The savings on fuel from only going once a month is substantial.
Peace of mind. I don't have to worry about feeding the kids if there's a storm that closes the roads, or if I'm sick with the flu and can't go out to shop. I don't have to worry about the cat chewing my arm off in my sleep if I forget to buy her food :-)
Space! In fact, it requires proportionally LESS space to store bulk staples than heavily packaged, processed convenience foods. That 20 lbs of flour becomes a heckuva lot of bread.