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Archive for the ‘Money, Jobs, & Finances’ Category
Wednesday, March 3rd, 2010
There are some websites that I frequent where I can just get lost in their awesome content. One of these websites is Get Rich Slowly which (surprise, surprise) focuses on how everyday people can accumulate wealth through a variety of slow, logical, reasoned processes. GRS is written in a blog format and the authors add new content that directly relates to how readers can make changes in their everyday life to really begin reducing their debt and expenses while finding real world solutions to increasing wealth.
While I managed to get my financial situation under control without the help of GRS, I do like heading over there every once in a while to see what the authors are posting about. Most of the time I find a string of entries that date back a few years as they chronicle how the authors attacked a particular situation and how/if they managed to win the battle. The other day I went over to their site and the first entry on the page had to do with “stuff.” You know what stuff is – it’s all of your crap. The stuff laying around your house, the stuff sitting in storage, the clothes in your closet that you never wear, the DVDs near your entertainment center that you’ve never watched, the books that you purchased and never opened…
You get the point.
I read through the author’s chain of entries on how he and his wife were trying to eliminate their useless stuff and increase their feeling of liberation in the process. I found this entry to be most interesting, because I could relate to portions of it such as:
When I go on vacation, I tend to overpack. I usually take a big suitcase crammed with extra clothing, electronic gadgets, and, most of all, books. I take lots of books. This time, despite being gone for three weeks, I limited myself to a single carry-on sized suitcase and one daypack. This seemed like a triumph, but after just a few days, I wished I had packed even less. Did I really need half a dozen personal finance books? Did I really need my laptop computer? Did I really need two sweaters? Though I didn’t take much, it still felt like too much Stuff.
More importantly, I discovered that I could live without. I lived without my books, without my comics, without my CD collection. I lived without my fancy digital SLR camera, or my Nintendo Wii, or my DVDs. This Stuff never entered my mind. I didn’t miss any of it. If I could live without these things for nearly a month — and feel liberated doing so — what might it be like to give up some of this Stuff permanently?
Have you ever done that? Have you ever packed so much stuff for a vacation or business trip that you have to pay the extra fees because your bag is too heavy? I do it on a regular basis and it’s not cheap. I have a business trip coming up one weekend in April and I’m going to attempt to get everything I need in a carry-on bag. The total trip will last only about 36 hours and of those 36 hours I’ll spend about 8 of them sleeping, 6 of them flying, 4 of them waiting in airports, and the rest of the time in meetings or in social situations with some of my colleagues. Why the heck do I need to pack a full bag of stuff for that type of whirlwind, quickie trip? Further, why should I have to pay the extra fee to Continental to bring luggage on the flight, period?!
I can relate to what the author writes in his entry quoted above. I’ve left my home for extended periods of time and specifically opted not to bring my laptop with me because I didn’t want the burden. And you know what? I felt that same feeling of liberation and it’s a great feeling. To a growing degree, I think that the folks in my generation are tethered to their gadgets, laptops, and internet connections. Lord knows that I need to be “hooked in” for my job and small business as well as my teaching gigs. In the grand scheme of things, that’s not fun.
To get back to the point, though, what this accumulation of “stuff” really boils down to is clutter. I began, slowly, de-cluttering my life a few years ago. I’m not sure if it has been raging success yet because my efforts to de-clutter really amount to not buying more stuff (which is actually a great strategy). Sure, I’ve donated some clothing and books to charities over the last few years, but I have so much more stuff that I should be getting rid of instead of sitting on. A few years ago I traded in about 50 of my DVDs because I never watched them – that was a good start. Over the last year I’ve been selling some textbooks on eBay that I will never use again; I’ve also been donating some of my older, insignificant books to a charity in Seattle. Those have both been double whammies on the positive chart because I’m bringing in new dollars with the eBay sales while getting a tax break with the donated books. Not bad.
Yet, I still have a closet full of clothes in which I only wear maybe 25% – 35% of the items that are actually in there. Granted, I bought a lot of these clothing items when I was 80 and 90 pounds lighter than I am now (when they actually fit), but that was a few years ago and now I’m stuck with a closet packed with clothing that I don’t wear because it doesn’t fit.
What’s a guy to do?
Well, I think that it might be time to start de-cluttering my stuff again. I have a bunch of clothing stuck under my bed in plastic totes. I might go through and donate some of those clothing items and replace them with some of the stuff in my closet that I don’t wear/can’t fit into any more. Hey, it’s a good way to get started de-cluttering again and I do believe that spring cleaning is right around the corner, right? 
Posted in Money, Jobs, & Finances | 1 Comment »
Monday, February 1st, 2010
Way back in December I came across an article on the New York Times website that talked about how one family broke free from the shackles of traditional cable service providers. It really is an interesting story so if you have a few minutes at the office or during the afternoon, you should click on that link and read the piece in its entirety. However, for a very brief summation of what the writer wound up with, here it is in his own words:
I disconnected everything, threw it to the side and canceled the cable months ago. Instead, now I have a Mac Mini, wireless mouse and a Microsoft Xbox hooked up to my television.
The article talks about how the guy had all of these gadgets – a DVD player, a special remote control, the AppleTV service (which was a major bomb), a gaming system, a cable box, etc. You know the drill because chances are that you have some or all of these peripherals (and more). Then the guy broke free of the confines that are put on us by our cable television services and he created his own entertainment center using other distribution formats.
For example, for movies this guy uses a streaming service from Netflix. For television shows he uses Hulu, Boxee, iTunes and Joost. I don’t know how he manages to watch certain cable programming (how does he get FOX News or CNN or HGTV, etc?), but the fact that this guy was able to disconnect from the cable company is impressive.
Think about that in terms of real dollars from your own wallet. My roommates and I spend about $130 each month on cable and internet plus I spend an additional $35 each month on the cable-fueled telephone. That’s $165 each month to the cable company – an absolutely unbelievable $1,980 per year! That’s ludicrous!
Now how much more do you spend on digital distribution services like Netflix or Blockbuster or cable on demand, etc? The costs begin to add up.
I think it’s great that the guy from this article was able to completely disconnect himself from this system. Somewhere in the article he suggests that he’s paying a total of $40 per month now for his internet and Netflix service. Over the course of a year that’s $480 or a savings of $1,500 each year. Each year!
That’s a lot of money! And it’s got me thinking about how I might be able to disconnect from the cable company once I purchase a home of my own one of these days…
Posted in Computers, Internet, & Technology, Entertainment, Money, Jobs, & Finances | No Comments »
Wednesday, January 20th, 2010
Last month I made note to myself to write an entry about how much it sucked commuting during a torrential downpour. While more than a month has gone by since the original cause of this exhaustion took place, I have some memory of it all and I think I can remember what happened.
There was some point in early December where the Jersey Shore and Central Jersey areas were battered with two or three days of rain in a row. At certain points in the day, it was a torrential downpour. Well, as you all know – rain doesn’t mean that you don’t have to go into the office. However, when you commute an hour to work and an hour back home, driving in a torrential downpour is more than just hitting the gas and brake pedals.
To begin with, driving an hour anywhere presents some wear on the body – driving an hour twice a day, everyday for at least four days each week is a major cause of exhaustion no matter what. Who wants to sit stationary for an hour while having to be 100% alert to all of your surroundings? Now imagine the exhaustion of having to drive that commute in the middle of a rainstorm. Pretty bad, right? Now imagine having to make that commute in the middle of a torrential downpour so bad that cars are pulling over to the side of the road.
Ugh…
What made this particular commute so much worse was the mixture of a hammering rainstorm and some of New Jersey’s worst drivers. I’m one of these people that believes you can tell a lot about a person by the way they drive, especially during inclement weather. Someone who drives with their body about an inch from the wheel as their hands are stuck at the 10 o’clock and 2 o’clock positions is someone who is probably a bit anal retentive. Those people who have their windshield wipers going 100 miles per hour during a light drizzle are probably very panicky people – the type of person very prone to being constantly concerned and anxious all of the time.
Well, I remember that on the night when I drove home during that downpour last month the road was filled with people who are constantly jamming on the brake pedal. Okay, given the road conditions I can understand why this might be necessary. However, a better way to deal with bad weather is to not drive like a maniac when visibility is near zero in the first place! Come on, people!
And that’s my story of exhaustion from last month that I made a note to tell everyone about on my blog. Mission accomplished.
Posted in Idiots, Morons, & Fools, Money, Jobs, & Finances | No Comments »
Saturday, January 9th, 2010
America’s Most Miserable Bank (a.k.a. TD Bank) officially has one less customer as of this morning. As I’ve chronicled on this blog a few times, I’ve been transitioning my direct deposits and direct debits out of TD Bank ever since they bungled the merger of TD Banknorth and TD Bank’s online systems back at the end of September. In reality, I probably finished transitioning to Central Jersey Bank at some point in November, but I decided to keep the TD Bank account – just in case I needed it for something.
My thought process was, “Hey, you never know, right?”
Apparently, I was too idealistic. The fact is that TD Bank has absolutely destroyed whatever good will existed between the company and its old Commerce Bank customers. In fact, while looking through my online account, I found the following message that I sent back in October…which has still gone unanswered.
October 1, 2009
When will my account be updated via the online interface again? I have not been able to see my real-time account information for a few days and that is unacceptable. I need to know what my balance is and whether or not my direct deposit for my paycheck hit my account yesterday. I have automatic debits coming out of this checking account today and tomorrow that absolutely must be honored.
I’ve tried calling the customer service lines and they’ve been disconnected, which is unacceptable. At this point, I am exploring checking account offers at other banks. This is not the level of customer service that Commerce Bank was built on and that I grew to enjoy from that bank. If this is how TD is going to run its operations, then I don’t see myself being a customer of this bank for too much longer.
In the year 2009 and almost 2010, this is completely unacceptable. TD Bank ought to be ashamed of itself.
Well, TD Bank certainly wasn’t ashamed of itself for that blunder. In fact, they began treating their clients worse and worse, which brings me to my latest (and final) online interaction with this horrible, customer unfriendly bank. These guys changed the type of account that I had (without my consent) and began charging me whenever my account dipped below $100. Take a read of the message that I sent to TD Bank a few days ago.
January 7, 2010
Why am I constantly charged a $15 fee when my account goes below $100? That is absolutely unacceptable. I have accounts with a local bank, Bank of America, and Sovereign Bank in addition to TD Bank and yet TD Bank is the only one that charges this absolutely unacceptable fee.
Please refund this fee immediately. I am at the point where TD Bank’s consistent unacceptable treatment of its customers is making me want to close this account.
I thought that was a pretty tough statement – straight and to the point. I figured that TD Bank would respond by saying something that was customer friendly. Instead, I received this message.
January 8, 2010
Thank you for contacting us.
On September 25, 2009, your account was changed to the Convenience Checking, which has a $100.00 minimum balance requirement to avoid a $15.00 fee. Unfortunately, we will no longer be offering a free account. However, we do have other options that may better suit your banking needs. Our Value Checking does not have a minimum balance requirement. This account has an automatic $3.00 monthly fee and allows 8 checks written per statement cycle. Each check written over 8 per statement has a $0.50 charge.
This information was mailed in August and outlined what your account type would be changed to.
We encourage you to review other products that we currently offer, as you may find that we offer an account more suitable to your needs.
This fee is not an error and cannot be reversed.
If you have any further questions, please contact us via email or call 1-888-751-9000 to speak with a Customer Service Representative, 24 hours a day, 7 days a week.
Regards,
Eric
TD Bank On-Line
E-mail Specialist
Seriously… that’s what they sent me. They sent that to me – a guy who has been a customer of this bank for about a decade, a guy who has never EVER bounced a check, a guy who consistently has well above $1,500 in his checking account. Why was my account below $100? Because I was transitioning my direct debits and direct deposits out to Central Jersey Bank – and I’m glad that I did! I’ve had enough of the shameless nickel and diming that goes on at TD Bank. When you combine this nickel and diming with the bank’s absolutely pathetic approach towards customer service, how can anyone remain a customer of this institution?
I responded to the message above with the one below.
January 9, 2010
I’ll be closing this account on Saturday. TD Bank has ruined Commerce Bank’s reputation in New Jersey.
And that’s that. I closed my account earlier today and I am so glad that I did. TD Bank got their $15 as I saw my way out of being a customer. I hope those measly $15 were worth losing an outstanding customer (who happens to have an online vehicle to write the type of annoyed, fed-up article that you’re reading right now…which will be online in perpetuity). Enjoy the $15, TD Bank…because I’m going to enjoy bashing your pathetic company for the rest of its sorry existence.
Posted in Money, Jobs, & Finances | 3 Comments »
Tuesday, January 5th, 2010
Right from the start, let me say that I don’t plan on getting carried away with the numbers in this entry and you shouldn’t either. I’m not digging into how much money I make or any of that type of stuff, so don’t look for that information here. Frankly, it’s none of your business. However, when I was going over some personal finance stuff with GGL earlier today I thought that it would be interesting to take my message to him and create an entry on the blog from its contents.
And so here we are.
In the last two days I’ve done really well in the stock market – like absurdly well. Granted, I’ve only been investing for about fourteen months, but yesterday and today were significant. I managed to bring my total earnings back up to above 100%. Most investors get excited about 10% – 15% gains and I am admittedly greedy by looking for triple digit percentage gains, but it’s my money so of course I want it to be wildly successful in the market! And yes, I understand that this is the market that we’re talking about and that there’s a strong chance that I’ll lose much of the last two days worth of gains in the next two days, but that’s part of the game.
Anyway, it got me thinking about my overall financial situation in a much larger picture. Since I started college in Fall 1999, I’ve been at a negative net worth. When I graduated Graduate School in Spring 2006, that negative net worth was approximately $121,000. That’s pretty bad. In fact, that’s absolutely horrendous. However, that negative net worth was comprised of 100% student loan debt. In the last few years, that number hasn’t really moved…until 2009.
In 2009, I rid myself of an automobile that sucked my savings account nearly dry, I committed myself to at least doubling the funds in my savings account (I wound up tripling them), and I lived according to an extremely strict budget which I planned at the beginning of the year and then micromanaged daily throughout the year.
But what’s interesting to me (and what prompted this entry) is that in 2009 I also committed myself to donating more money to nonprofit organizations. In other words, while I was trying to increase my net worth from a negative number to a positive number I was actually giving money away! Though I haven’t run the final numbers yet, I think that 2009 might have been my most charitable year on record. I might have given away more than $7,500 last year. For a guy who began the year with a net worth that was already $100,000+ in the hole, that’s an incredible feat.
Then I see days like today and yesterday where my stock portfolio jumps.
Then I think about how I know that I have another check already sitting at one of the student loan payment centers which will allow me to make another announcement about my total student loan debt dropping before the end of January.
Then I think about my negative net worth slowly inching towards a positive number.
Then I check my 401k and realize that it’s not doing so bad, either.
And after all of that I begin to see much more clearly that my total student loan debt (which is my only debt) is measurably decreasing while my investments, savings, and retirement funds are measurably increasing. That’s significant. That’s the result of creating a budget and micromanaging that budget throughout the year. That’s the result of making a plan and sticking to it – of committing yourself to being in a better financial position tomorrow than you are today.
That’s something to be happy about. 
Posted in Money, Jobs, & Finances, Student Loans | 2 Comments »
Tuesday, December 29th, 2009
You’ve got to love this story from FOXNews.com (actually, it appears that this story is from The Wall Street Journal). Whenever someone suggests that the American Dream may not be in reach for younger generations, I find that stories like the one linked above re-emphasize how some people won’t take “no” for an answer as they make their own way in this life.
Faced with an unemployment rate of 16 percent for 20- to 24-year-olds, a growing number of recent college and grad-school graduates are launching their own companies, according to anecdotal evidence from colleges, universities and entrepreneurship programs around the U.S.
I love it. When certain people can’t find jobs in this job market, they don’t go and run to the government for help nor do they cry poverty and complain about not being able to make ends meet before it is too late. Instead, they open up their own companies and give entrepreneurship a try. Outstanding!
This push toward entrepreneurship among young people is likely to continue as employers plan to hire 7 percent fewer graduates from the class of 2010 than they hired from the class of 2009, which saw a nearly 22 percent drop in hiring from the class before, according to a recent report from National Association of Colleges and Employers.
The job market really is a mess out there. Thankfully, I’m in a job that I believe is pretty secure and I’m holding a position that I believe is essential to my company’s short and long term success. I’m also thankful that I worked diligently in the last few years to receive a great education and to establish additional streams of revenue outside of the paycheck that I receive from my day job. Sure, it means that I work late some nights when the college semester is in session and it means that other times when I’d rather be relaxing (i.e. when I’d rather be lazy), that I have to grade papers or sign in to an online teaching environment, but that’s okay with me.
Much like the people that the article above talks about, I’ve taken a no bullshit stance towards making sure that my future is secure. I hope that 2010 proves to be as good for me as 2009 was in terms of working my plan for financial freedom and professional success! You’ve got to go out there and make things happen!
Posted in Money, Jobs, & Finances | No Comments »
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