- Guide to finding cheap airfare: http://su.pr/2pyOIq #
- As part of my effort to improve every part of my life, I have decided to get back in shape. Twelve years ago, I wor… http://su.pr/6HO81g #
- While jogging with my wife a few days ago, we had a conversation that we haven’t had in years. We discussed ou… http://su.pr/2n9hjj #
- In April, my wife and I decided that debt was done. We have hopefully closed that chapter in our lives. I borrowed… http://su.pr/19j98f #
- Arrrgh! Double-posts irritate me. Especially separated by 6 hours. #
- My problem lies in reconciling my gross habits with my net income. ~Errol Flynn #
- RT: @ScottATaylor: 11 Ways to Protect Yourself from Identity Theft | Business Pundit http://j.mp/5F7UNq #
- They who are of the opinion that Money will do everything, may very well be suspected to do everything for Money. ~George Savile #
- It is an unfortunate human failing that a full pocketbook often groans more loudly than an empty stomach. ~Franklin Delano Roosevelt #
- The real measure of your wealth is how much you'd be worth if you lost all your money. ~Author Unknown #
- The only reason [many] American families don't own an elephant is that they have never been offered an elephant for [a dollar down]~Mad Mag. #
- I'd like to live as a poor man with lots of money. ~Pablo Picasso #
- Waste your money and you're only out of money, but waste your time and you've lost a part of your life. ~Michael Leboeuf #
- We can tell our values by looking at our checkbook stubs. ~Gloria Steinem #
- There are people who have money and people who are rich. ~Coco Chanel #
- It's good to have [things that money can buy], but…[make] sure that you haven't lost the things that money can't buy. ~George Lorimer #
- The only thing that can console one for being poor is extravagance. ~Oscar Wilde #
- Money will buy you a pretty good dog, but it won't buy the wag of his tail. ~Henry Wheeler Shaw #
- I wish I'd said it first, and I don't even know who did: The only problems that money can solve are money problems. ~Mignon McLaughlin #
- Mnemonic tricks. #
- The Wilbur and Orville Wright Papers http://su.pr/4GAc52 #
- Champagne primer: http://su.pr/1elMS9 #
- Bank of Mom and Dad starts in 15 minutes. The only thing worth watching on SoapNet. http://su.pr/29OX7y #
- @prosperousfool That's normal this time of year, all around the country. Tis the season for violence. Sad. in reply to prosperousfool #
- In the old days a man who saved money was a miser; nowadays he's a wonder. ~Author Unknown #
- Empty pockets never held anyone back. Only empty heads and empty hearts can do that. ~Norman Vincent Peale #
- RT @MattJabs: RT @fcn: What do the FTC disclosure rules mean for bloggers? And what constitutes an endorsement? – http://bit.ly/70DLkE #
- Ordinary riches can be stolen; real riches cannot. In your soul are infinitely precious things that cannot be taken from you. ~Oscar Wilde #
- Today's quotes courtesy of the Quote Garden http://su.pr/7LK8aW #
- RT: @ChristianPF: 5 Ways to Show Love to Your Kids Without Spending a Dollar http://bit.ly/6sNaPF #
- FTC tips for buying, giving, and using gift cards. http://su.pr/1Yqu0S #
- .gov insulation primer. Insulation is one of the easiest ways to save money in a house. http://su.pr/9ow4yX #
- @krystalatwork It's primarily just chat and collaborative writing. I'm waiting for someone more innovative than I to make some stellar. in reply to krystalatwork #
- What a worthless tweet that was. How to tie the perfect tie: http://su.pr/1GcTcB #
- @WellHeeledBlog is giving away 5 copies of Get Financially Naked here http://bit.ly/5kRu44 #
- RT: @BSimple: RT @arohan The 3 Most Neglected Aspects of Preparing for Retirement http://su.pr/2qj4dK #
- RT: @bargainr: Unemployment FELL… 10.2% -> 10% http://bit.ly/5iGUdf #
- RT: @moolanomy: How to Break Bad Money Habits http://bit.ly/7sNYvo (via @InvestorGuide) #
- @ChristianPF is giving away a Lifetime Membership to Dave Ramsey’s Financial Peace University! RT to enter to win… http://su.pr/2lEXIT #
- @The_Weakonomist At $1173, it's only lost 2 weeks. I'd call it popped when it drops back under $1k. in reply to The_Weakonomist #
- @mymoneyshrugged It's worse than it looks. Less than 10% of Obama's Cabinet has ever been in the private sector. http://su.pr/93hspJ in reply to mymoneyshrugged #
- RT: @ScottATaylor: 43 Things Actually Said in Job Interviews http://ff.im/-crKxp #
- @ScottATaylor I'm following you and not being followed back. 🙁 in reply to ScottATaylor #
Festival of Frugality #287: The Independence Day Edition
Today, it is my please to host the 287th Festival of Frugality, the Independence Day Edition. Yesterday, was Independence Day in the US. It’s the day we celebrate throwing off the yolk of high-tax, no-rights tyranny and blowing stuff up.
That’s not what this Festival is about. As much as I love this country and enjoyed celebrating, today, the theme is the Independence Day movie.
Coolest ID4 fact, ever: A promotional piece that aired in Spain for this film set off a “War of the Worlds” type of wide spread panic. The promo featured a popular Spanish news anchor and the piece ran as if there really WAS an alien attack to occur on July 4.
Editor’s Picks
The explosion of the Welcome Wagon Helicopters was actually footage of a pyrotechnics accident on set.
Miss T. gives us Seven Reasons to Avoid Penny Auction Sites. She does a great job of explaining the evil that is Penny Auctions, from outright fraud to the rip-off that is the basic business model. Some of these sites make $5000 or more on an iPad auction. They don’t even have to carry an inventory before running an auction.
Independence Day holds the record for most miniature model-work. It beat the previous record by double.
Philip submits Turn Wasted Extra Money Into a Debt Payment. I have a friend who is positive he can’t reduce his monthly expenses at all, while eating out almost every day.
The alien ship “miniature” was 65 feet across.
Boomer presents Financial Support For Your Adult Children. I love my parents. A lot. I couldn’t imagine moving back in with them, and I’m pretty sure they’d feel the same way soon enough. Although, Mom, if you’re reading this, can I have an allowance again?
This was the highest grossing film in 1996.
Suba presents Why you should not use 401k. I’ve never questioned the wisdom of maxing out a 401k. It’s good to see those assumptions challenged and the numbers crunched.
The Best of the Rest
President Whitmore: Good morning. In less than an hour, aircraft from here will join others from around the world. And you will be launching the largest aerial battle in the history of mankind. Mankind, that word should have new meaning to all of us. We cannot be consumed by our petty differences anymore. Perhaps it is fate that today is the fourth of July, and we will once again be fighting for our freedom. But not for freedom from tyrrany or oppression or persecution. We’re fighting for our right to live, to exist. And should we win the day, the Fourth of July will no longer be known as an American holiday, but as the day when the world stood up and declared in one voice that we will not go quietly into the night! We will not vanish without a fight! We’re going to live on! We’re going to survive! Today we celebrate our Independence Day!
FMF presents Save Money on Groceries by Shopping on Wednesday posted at Free Money Finance.
Harri Pierce presents Have a second hand summer posted at TotallyMoney.
Daniel presents Top 10 Reasons to Shop Online vs. Shopping In-Store posted at Sweating The Big Stuff.
President Whitmore: It’s a fine line between standing behind a principle and hiding behind one.
Philip Taylor presents The Best Time to Buy posted at PT Money Personal Finance.
Outlaw presents Pay Yourself First and Have Money in the Bank posted at Outlaw Finance.
Crystal presents Frugal Tips for the Pet Dog posted at Budgeting in the Fun Stuff.
Matt presents The Price of Water posted at Stupid Cents.
That’s right! That’s what you get! Look at you! Ship all banged up! Who’s the man? Who’s the man?! Wait until I get another plane! I am going to line up all your friends right beside you! ~ Captain Steven Hiller
Alan presents The Cost of Online Gaming: Free to Play posted at Canadian Finance Blog.
Paula @ AffordAnything.org presents Diets and Debt: Managing Money and Your Weight posted at AffordAnything.org.
Kay Lynn presents Summer Fun for the Frugal Family posted at Bucksome Boomer.
Jacob @ My Personal Finance Journey presents Top 10 Money Saving Tips posted at My Personal Finance Journey.
If you’re so smart, tell me something, how come you go to M.I.T. for 8 years to become a cable repairman?~ Julius Levinson
Glen Craig presents The Cost of Clutter on Your Finances and Life posted at Free From Broke.
Eddie presents 55 Suggestions To Save $1000 posted at Finance Fox.
Darwin presents Are You Better Off Than Your Parents? posted at Darwin’s Money.
Sustainable PF presents Sustainability Tip #179: Loose Cap Lose Gas posted at Sustainable Personal Finance.
WHOOOOO!!!!!!!!! Elvis has left the building! ~ Captain Steven Hiller
I hope you enjoyed the carnival. Please take a moment to subscribe to Live Real, Now.
Why Companies Need to Acquire MIS Graduates
This is a guest post.
Most companies recognize that technology will play an increasing role in future success. That realization doesn’t necessarily mean that businesses know what type of professionals to hire. These four benefits should convince companies that they need to acquire MIS graduates.
To Reach More Customers
The Internet has radically changed the way that people shop. Consumers spent about $210.6 billion buying products from online retailers. At $4,778.24 billion, the business-to-business e-commerce volume is even greater. The trend is quite clear: businesses that want to increase sales need to offer their clients online options.
Despite its popularity, e-commerce is still an evolving industry that presents several unanswered questions to businesses that want to take advantage of it. Adding an information systems manager to a technology development team makes it easier to find solutions as businesses encounter new problems.
To Protect Customer Information
In January 2014, hackers stole information about 110 million Target customers. In September of the same year, hackers stole information from Kmart. When companies suffer security breaches, media outlets pick up the stories and spread them across the Internet. This creates terrible public relations scenarios that can make consumers cautious of using credit cards when shopping online or at stores.
A strong computer security team is the only way businesses can stop hackers from stealing customer information. That team needs to include several types of professionals who specialize in specific areas of computer technology. Someone with an Information Systems Management degree can bring those professionals together to create a security program that outwits even the best hackers.
To Become More Efficient
Companies need to cut spending and increase profits to remain competitive. Computer technology that focuses on efficiency accomplishes both of those goals. Without someone trained to build and maintain computer systems, businesses can’t keep up with competitors who understand that spending a little more money today on the right team members can lead to long-term benefits.
Businesses that don’t use computer technology to improve efficiency will likely fail to meet the needs of their customers. Either their services will suffer or their prices will go up. Either way, refusing to adopt new technology puts businesses at a significant disadvantage.
To Improve Communications
Communications plays a key role in helping businesses meet their goals. Today’s latest technology helps companies stay in contact with customers, transfer large amounts of information between offices, and develop database systems so employees and managers can access information instantly.
Improved communication technology doesn’t just happen on its own. It takes a commitment to building reliable computer networks that can transmit information securely. MIS graduates who enjoy traveling can use this as an opportunity to help businesses while exploring the world. While small businesses probably don’t need to hire a staff member dedicated to building computer networks, medium and large companies can benefit from hiring their own information technology staff members.
As technology continues to evolve, companies will need to rely on more IT professionals. What advantages do you think an MIS graduate could offer businesses in your community?
What Is Your Binary Options Strategy?
When you are just entering the world of binary options trading or investing, you may be on the receiving end of a lot of advice. It is not uncommon to hear people tell you to implement different gambling strategies because binary options are based on chance more than anything else. You will also hear a lot of advice from those who say there are many good ways to develop an effective strategy using indicators and market signals. Some will insist that with proper analysis of market data, a solid strategy can be developed too.
Are they all correct? Interestingly enough, the answer is yes. The reason for this is simple, and as one expert writes, “there is no such thing as a perfect strategy for every trader. There is only a best strategy for each individual trader.” Thus, your strategy has to be shaped around a few things:
- Your willingness and ability to follow your chosen strategy.
- Your personality. For instance, are you restless if you are taking the safe route or a higher risk strategy?
- Your budget and goals,
Identifying the answers to these questions is the first step to formulating a strategy. You should also understand that the winning percentage of most strategies will be somewhat constant, but the total number of successful trades varies on an individual basis and is based entirely on the strategies used.
For instance, some investors want a high percentage of winning trades and are more comfortable with risk averse trading. Others are ready to take more risk and are entirely comfortable winning fewer trades if the returns on winning trades are dramatically higher. This enables them to implement higher risk trades. The interesting thing about strategies and the kinds of trades they generate is that they are all built from the same data.
The Data of Strategy
For example, almost all strategies will look at issues like market trends, trading trends, highs and lows, reversals, and various kinds of indicators. The reason that high and low trends pay off in strategy development is simple: binary options trading applies to whether or not an asset rises above a strike price or doesn’t. It is the proverbial “yes or no” part of the proposition and analysis for either outcome pays off.
As an example, a lot of risk-averse investors will look for breakouts. They use these for trend line investing, which can be as brief as sixty seconds to a day, but can be used to coordinate investing in the direction of a short trend. Although this seems complex, it really is not. The key is that analysis cannot be broad and across all available markets. Instead, focused analysis on a specific area will allow even a novice investor to analyze for a breakout and then invest in binary options accordingly.
Just being able to detect a reversal or a downward trend over the course of a day can yield a very rewarding investment. The key is to understand your strategy based on your budget, personality, and your ability to stick with the strategy, even if it does not yield immediate success. When you do this, and use the right tools for analysis, you can create an effective strategy that brings you closer to your goals.
This is a guest post.
Hypocrisy
Sometimes people make choices for a variety of reasons entirely outside of my knowledge and understanding. Yet somehow, I still manage to be dismissive and occasionally derogatory.
What I have come to realize is that there are numerous reasons for making apparent bad decisions. It is easy, though often not correct, to dismiss these supposed mistakes as character flaws, without taking the time to fully understand the decision-making process.
For example, I am usually quick to point out the folly of gadgets. Odd, that, for a gadget geek. So many gadgets are merely ego purchases, bought because the are “cool”. Obviously a waste of money. A smartphone serves no practical purpose for an average person, right? What if that person’s life is so difficult to manage that a calendar sync including both spouses and multiple calendars will allow a family to make sure every kid gets to every activity on time? Or he has a side business that is easier to manage with ubiquitous email? Or even a strong urge to limit the number of items carried every day? A phone/mp3 player is fewer gadgets than separate appliances.
Another example is a close friend who started running several months ago, to be met with questions of why somebody would run without being chased. It’s easier to play on the internet or ride a bike, right? And the special running shoes? Silly. Except running is cheaper than biking and running shoes beat knee surgery any day. Running on the street is more effective than a treadmill, since you can’t step off after running two miles away from your house.
So here I sit, a runner with a crackberry and plate full of crow.
“Don’t judge a man until you’ve walked a mile in his moccasins.” Indeed.
Balance Your Borked Budget
You’ve got a budget worked out to the penny. You know every dollar that comes in and every dime that you spend. All of your bills are getting paid on time. Then, one day, it all comes crashing down. Your budget is no longer even a reasonable approximation of your cash flow. You’ve got no idea what’s coming in or going out. Bills are piling up and fees are digging you deeper in debt.
What happened? More importantly, how do you get back on track?
The first thing you need to do is identify the problem. What, exactly, went wrong? Did you lose your job or need a surprise botox injection? Your car died or your kid developed a hockey habit? Sports car or shoe sale? Whatever the cause, if you can’t identify it, you can’t deal with it. Some of the possible problems may be things that can get clubbed and buried in the backyard, while other things may be expenses that won’t be going away. If it’s a one-time expense, you can simply refocus your debt repayment to take it into account. If it’s an ongoing expense, you will need to adjust your other expenses, possibly in a drastic manner, to make ends meet. You can’t know which way to go without knowing what caused the problem.
Next, commit to to making it right. Don’t leave it at a mere commitment. Actually commit and actually do it right. Future-you is counting on you to fix the problem before he gets screwed. This is important. Without firm–and real–commitment, nothing else will matter. At best, you will be treading water. At worst, you will drown yourself in unanticipated bills.
Cut everything extra. Every expense–whether it’s your mortgage or your maid–is a rock in your pocket, one hundred miles from shore. How much can you carry and stay afloat? This isn’t the time to keep paying something because you enjoy it. If it isn’t absolutely necessary, it’s got to go. Cut your internet, cancel Netflix, learn to shut off the lights when you aren’t using them. Is the early termination fee less than 6 months of your cable bill, your satellite bill? Cancel it. You can always sign up again later. This is the time to be ruthless.
Is there a way to bring in some extra cash? Can you pick up a second job, or land a freelancing gig? If you’ve suddenly found yourself unemployed, can you spend some time on being a Mechanical Turk? Sell all of the things you don’t use anymore, or, more likely, never should have bought in the first place? Do you have a spare kidney?
Remember, this is a drastic situation calling for drastic measures. Your future is depending on you. Don’t make him come back and kick your butt.
Update: This post has been included in the Carnival of Personal Finance.
