I know that I have not been posting much this month. I have been very busy enjoying the holiday season. I promise that after the New Year more savings ideas will come. I will also be posting more than just savings thoughts because I have much more on my mind than just saving money. So I hope you all enjoy reading my blog more in 2008. During this time of the year have fun spending it with your family and the ones you love. Those gifts are priceless.
Happy New Year!
I was thinking that I have three nieces and one nephew and they all need gifts because their uncle loves them. They will never know if you spend $50 on them versus $25. Kids love to get things and that is the bottom line. My whole family is growing yearly it seems. I noticed when the little ones open gifts one after another they get like 20 new toys. I started thinking a great gift for them while they are young would be getting them a savings bond. When they are older then they can really appreciate it more. Getting them a Bond for birthdays and special holidays will add up for that car down payment in the future. After all so what if they only get 19 gifts now and a nice chunk of change when they are older. Just a thought I had…
Over the weekend I watched a show on bad general contractors. I can’t believe how many people out there have the nerve to just take money from people and not complete the job that they were paid for. During the show they would show how many contractors would fake that they were licensed, bonded, and insured. Many that said they were really were not. People spend thousands of dollars on home remodels and usually do not spend much time to research the person that they are going to use. Gone are the days where you will trust that they are licensed, bonded, and insured when they say they are. You actually will have to do your research and check it out for yourself. By not spending a couple hours researching them you may end up picking the wrong contractor for your home remodel. It can end up costing you thousands; in some cases even hundreds of thousands to correct problems from picking a bad contractor.
Pay for the job once, and get the right contractor to do the job right, the first time.
This article was passed on to me in email. I do not know who the author is, but I thought it was a great read on how to save money at the pump.
Only buy or fill up your car or truck in the early morning when the ground temperature is still cold. Remember that all service stations have their storage tanks buried below ground. The colder the ground the more dense the gasoline, when it gets warmer gasoline expands, so buying in the afternoon or in the evening….your gallon is not exactly a gallon. In the petroleum business, the specific gravity and the temperature of the gasoline, diesel and jet fuel, ethanol and other petroleum products plays an important role.
A 1-degree rise in temperature is a big deal for this business. But the service stations do not have temperature compensation at the pumps.
When you’re filling up do not squeeze the trigger of the nozzle to a fast mode. If you look you will see that the trigger has three (3) stages: low, middle, and high. In slow mode you should be pumping on low speed, thereby minimizing the vapors that are created while you are pumping. All hoses at the pump have a vapor return. If you are pumping on the fast rate, some of the liquid that goes to your tank becomes vapor. Those vapors are being sucked up and back into the underground storage tank so you’re getting less worth for your money.
One of the most important tips is to fill up when your gas tank is HALF FULL or HALF EMPTY. The reason for this is, the more gas you have in your tank the less air occupying its empty space. Gasoline evaporates faster than you can imagine. Gasoline storage tanks have an internal floating roof. This roof serves as zero clearance between the gas and the atmosphere, so it minimizes the evaporation. Unlike service stations, here where I work, every truck that we load is temperature compensated so that every gallon is actually the exact amount.
Another reminder, if there is a gasoline truck pumping into the storage tanks when you stop to buy gas, DO NOT fill up–most likely the gasoline is being stirred up as the gas is being delivered, and you might pick up some of the dirt that normally settles on the bottom.
Hope this will help you get the most value for your money.
I am in no way an investing guru but here are my two cents on how young people getting started out should invest. First and foremost if your employer is giving away free money take advantage of it. If a company is willing to match on a 401k make sure you contribute the amount that they match up to. For example let’s say they match up to the dollar on 3%. If 3% of your contribution from your salary is $50 that means your company will throw in $50 as well. Each 401k and profit sharing plans are different but make sure you get the free money from your employer if they offer it. On top of getting the free money from your current company, set a goal of contributing to your Roth IRA. Max it out!
If you company does not have a profit sharing program then fund your Roth IRA before the basic 401k. If you have plenty of money leftover after your fund your Roth then you can fund your 401k or other investments such as paying down your mortgage. I think 401k’s are a waste without some sort of profit sharing or company match from employers.
So here are some things to plan for investing in 2008:
Does your company have a profit sharing plan? If so, take advantage of it.
Are you funding your Roth IRA always? Max it out!
