Articles
A Beach Bum's Financial To Do List
- Create a personal balance sheet.
- With the balance sheet look for opportunities to reduce debt.
- If your balance sheet does not include investments start a periodic investment program [like a 401(k)].
- With the balance sheet look for opportunities to move money to higher earning accounts.
- Find out what your credit score is.
- Live within your means not beyond them.
- Write a will.
Posted by Surfin' Sid 9/24/2007
Buying Technology
As technology improves it gets faster, smaller, and cheaper. You will generally get more for your money. A very recent example of the cheaper factor is the iPhone by Apple. Within a couple of months the iPhone's price was reduced by $200.
Are you an early adopter or a laggard? Early adopters like to experiment with new toys no matter the price. I would love to be an early adopter but alas the life of a beach bum does not allow for that type of joy. And that is Okay!!! Instead I am a laggard who buys technology after several price drops. In fact I have not purchased a brand new computer for home since 1995. I have been lucky enough to acquire PCs from different sources for free. My current inventory includes two laptops, three desktops, a work station and a server.
As a late adopter you will not have all the newest gadgets but you'll save money that you can put towards your dream of becoming a beach bum.
Posted by Surfin' Sid 9/19/2007
Green ways to save cash
Use a few of these steps to save some green while being green.
- Install a programmable thermostat. Why cool or heat your house while no one is there? Current estimates from the EPA say that you could save $150 a year using one. A good investment given that a thermostat can be purchased for less than $100. That's a 50% gain the first year and it just keeps getting better!
- Replace your light bulbs with compact fluorescent lamps [CFLs]. The CFLs use two-thirds the energy of standard light bulbs and last 10 times longer. Switch to CFLs in five locations and save $60 in energy costs this year. The prices keep dropping on CFLs due to huge support by large unnamed American corporations. Put them in places where the light is on most of the time to reap the greatest savings reward. The downside is that the CFLs contain mercury so watch for LED lights that should be available soon.
- Turn off lights and appliances when they're not in use. Why pay for electricity on devices you are not using? Simple answer: DON'T! Turn off your computer and monitor overnight, or at least set them to automatically switch to an energy saving mode when they're not in use. The hibernate mode is virtually the same as turning your PC off and can save more than $50 a year in energy costs.
- Wash full loads of dishes and clothes. You can save energy and money just by washing some loads on warm or cold settings, since a large percentage of the energy used in doing laundry is used to heat the water. You can also wrap your water heater and pipes with insulation to reduce heat loss. Use normal or light wash settings on your dishwasher unless another setting is needed.
- Think long term when you buy new appliances and heating/cooling systems. Look for Energy Star products, which must meet certain better-than-minimum energy usage qualifications. Look at the yellow EnergyGuide labels to compare appliances based on energy usage. The label will display the estimated cost to run the appliance, as well as its energy efficiency compared with other models.
Posted by Surfin' Sid 9/19/2007