- Getting ready to go build a rain gauge at home depot with the kids. #
- RT @hughdeburgh: "Having children makes you no more a parent than having a piano makes you a pianist." ~ Michael Levine #
- RT @wisebread: Wow! Major food recall that touches so many pantry items. Check your cupboards NOW! http://bit.ly/c5wJh6 #
- Baby just said "coffin" for the first time. #feelingaddams #
- @TheLeanTimes I have an awesome recipe for pizza dough…at home. We make it once per week. I'll share later. in reply to TheLeanTimes #
- RT @bargainr: 9 minute, well-reasoned video on why we should repeal marijuana prohibition by Judge Jim Gray http://bit.ly/cKNYkQ plz watch #
- RT @jdroth: Brilliant post from Trent at The Simple Dollar: http://bit.ly/c6BWMs — All about dreams and why we don't pursue them. #
- Pizza dough: add garlic powder and Ital. Seasoning http://tweetphoto.com/13861829 #
- @TheLeanTimes: Pizza dough: add lots of garlic powder and Ital. Seasoning to this: http://tweetphoto.com/13861829 #
- RT @flexo: "Genesis. Exorcist. Leviathan. Deu… The Right Thing…" #
- @TheLeanTimes Once, for at least 3 hours. Knead it hard and use more garlic powder tha you think you need. 🙂 in reply to TheLeanTimes #
- Google is now hosting Popular Science archives. http://su.pr/1bMs77 #
- RT @wisebread 6 Slick Tools to Save Money on Car Repairs http://bit.ly/cUbjZG #
- @BudgetsAreSexy I filed federal last week, haven't bothered filing state, yet. Guess which one is paying me and which one wants more money. in reply to BudgetsAreSexy #
- RT @ChristianPF is giving away a Lifetime Membership to Dave Ramsey’s Financial Peace University! RT to enter to win… http://su.pr/2lEXIT #
- RT @MoneyCrashers: 4 Reasons To Choose Community College Out Of High School. http://ow.ly/16MoNX #
- RT @hughdeburgh:"When it comes to a happy marriage,sex is cornerstone content.Its what separates spouses from friends." SimpleMarriage.net #
- RT @tferriss: So true. "Nearly all men can stand adversity, but if you want to test a man's character, give him power." – Abraham Lincoln #
- RT @hughdeburgh: "The most important thing that parents can teach their children is how to get along without them." ~ Frank A. Clark #
Should Pupils Focus on Personal Finance?
When I was younger, my dad was always trying to teach me the value of money but he never really succeeded and it took a series of monetary mishaps before I even started to learn any of the lessons that he had been trying to teach me!
Once I realized that I had been horribly mismanaging my finances, a painful lesson to learn, especially on the back of a redundancy, I began to do some research to find out exactly where I had gone wrong and what I could do to put things right.
It was at this point that it occurred to me that I knew absolutely nothing about personal finance and I couldn’t tell an ISA from a current account.
I also began to wonder if I had been taught these lessons at an early age then would I have made better financial decisions once I started earning?
For example, my outlook on personal finance was all about borrowing and not saving and I had no idea what my credit score was or how it was calculated.
Had I known that it could be affected by simply being close to the limits on my current lending streams or by applying for more credit then I may not have been so quick to spend on credit cards.
Although this was not a problem during the credit boom, when offers of guaranteed credit seemed to drop through my door on a daily basis, it has become something of an issue since the credit crunch.
Of course, just knowing the pitfalls of financial mismanagement is no guarantee that I would have done things any differently but it certainly would have made me think about the decisions I was making and the impact they would have in the long run.
All of which led me wonder whether should schools give students (or pupils if you’re in the UK) lessons in personal finance.
I think it would be a great idea as this would be something that everyone, no matter what their level of academic ability, could take with them into the real world.
And it could be the case that a school in the US is one step ahead of the rest as they already have money management lessons as part of the curriculum.
Burbank High School in Sacramento is offering students lessons in personal finance as part of National Financial Literacy Month in an effort to raise awareness of the importance of good practice in personal finance.
The lessons covered personal finance topics such as budgeting, saving and needs vs. wants and placed them into real life scenarios that would resonate with the students, such as estimating how much the senior prom will cost and ways to save and pay for it.
Students were also encouraged to put a portion of any weekly earnings or allowance into a savings account to teach them the importance of saving for the future from an early age.
I think that these were the values that my dad was trying to instill in me from an early age but I failed to take any notice.
I now have two sons that I have to try and keep from making the same mistakes that I made, so any help I can get will be greatly appreciated…here’s to future school pupils focusing on personal finance!
Article written by Moneysupermarket.com
Delayed Gratification, Take II
How much would you pay for a kiss from the world’s sexiest celebrity?
That was the focus of a recent study that I can’t find today. There is no celebrity waiting in the wings to deliver the drool, and the study doesn’t name which celebrity it is. That’s an exercise for the reader.
This was a study into how we value nice things.
The fascinating part of the study is that people would be willing to pay more to get the kiss in 3 days than they would to get the tongue slipped immediately.
Anticipation adds value.
Instant gratification actually causes us to devalue the object of our desire.
This goes well beyond “Will you respect me in the morning?”
The last time I talked about delayed gratification, it was in the context of my kids. That still holds true. Kids don’t value the things that are handed to them.
The surprising–and disturbing–bit is that adults don’t, either. If I run out to the store to buy an iPad the first day I see one, I won’t care about it nearly as much as if I spend a week or two agonizing over the decision.
The delay alone adds to the perceived value. The agony turns the perceived value into gold.
If I spend a month searching for the perfect car, the thrill of the successful hunt adds less value than the time it took to do the hunting.
Here’s my frugal tip for today: Delay your purchases. While it may not actually save you any money, you will feel like you got a much better deal if you wait a few days for something you really want.
‘Mommy, I’m bored!’ Top 5 online activities for your kids
This is a guest post.
When nasty weather, a cold or the flu keeps kids indoors, plan ahead for those days with some great online activities kids will enjoy. Whether it is learning a new language with mom or dad, or practicing multiplication tables with an older sibling, kids can find plenty of cool things to do to kill their time. Here is a top five list of things your children can do while surfing the net.
Fun Languages
Learn Spanish, German, or French online with your kids. Give your children the gift of language with some key phrases and words to encourage brain activity in the language zones. Studies have shown that children exposed to multiple languages in their elementary years are more likely to learn a second language as adolescents and adults. Statistics indicate basic knowledge of a second language promotes better understanding of English grammar. The internet has some great resources for older children and parents wishing to improve their vocabulary knowledge and grammar skills. Word a day programs and test prep programs are often as entertaining for the parents as they are for the kids.
Arts and Crafts
There is a plethora of sites offering downloadable art project sheets, coloring pages, creative flash cards, art activity books and art games on the internet. Let the creative genius of your young artist shine through with how to draw tutorials and interactive art history sites. Don’t forget the musician in the house, as there are plenty of great music tutorials complete with video and audio for the young future soloist to watch. Many sites offer interesting and kid friendly “how to” videos for piano and vocals. Many sites offer inexpensive or free holiday cards the kids can create and print for one of a kind holiday or birthday gift giving. Crayola offers terrific downloadable coloring pages, games and activities.
More Academics with Math
Colorful math puzzles, homework practice sessions all online, downloadable speed tests and great interactive programs abound for the math whiz. Fun and entertaining, these online interactive programs are often free and downloadable in seconds. Your kids will never be bored again when accessing such interesting activities as tangrams, money games and creating their own math flash cards. Periodic tables and math and science in the kitchen bring fun and kid friendly experiments for rainy days and long summer vacations. Keep them interested in STEM (science, technology, engineering and math) with how things work videos.
Early Learners Have Fun Too
There are wonderful sites that teach young children and early learners about counting, colors and shapes. Teach your children about telling time and other valuable skills. Learn about money, traffic safety and stranger danger in fun and engaging videos and interactive games. Young children are remarkably quick to pick up on new skills through technology. Parents can take advantage of wonderful online activities at many educational websites.
Games and More Games
There are free and not so free video and mobile device games for children of all ages. Fun and diverting puzzles, adventure and arcade, card and board games for younger to middle school aged children can be found just a few clicks away. Fun and challenging sports and trivia games for high school aged kids are often found at no charge.
Sell old CDs
Got some unused video games ready for the bin? A DVD that you kids received for Christmas and never watched? An old CD they don’t like to listen to anymore? Here it is another opportunity to spend some time online having fun. Websites such musicmagpie will allow your children to sell their unwanted CDs and make a bit of money out of it. Less clutter around the house, more fun for your kids. That sounds like a win-win.
Mortgage Race, Part 2
As I mentioned last month, Crystal and I are in a race to pay off our mortgages. The loser(henceforth known as “Crystal”) has to visit the winner. Now, since–judging by the temperature–Crystal lives in Hell, I think it would be good for her to visit in the winter. There something about the idea of going ice fishing, staring at a hole in the ice while sitting on a 5 gallon bucket, cursing the day I was born.
Today, she threw down the gauntlet again. She has apparently decided that, since her prerequisites are met, she’s going to win. Sure, she’s closed on her house and built her savings back up to $20000, but it doesn’t matter. I’ve sent a small army of arson-ninjas to keep her from getting ahead. They are so small, they can only carry tiny matches and single drops of gasoline, so the damage they can do is tiny, but it will add up. Just a word of advice: if you hire an army of arson-ninjas, go for the upsell and get ninjas that are at least 2 feet tall. Anything less is just inefficient.
When I announced the race last month, my mortgage balance was $26,266.40. Today, it is $25,382.53. In three days, there will be another $880 applied to the principal.
In February, our renters will move in and we’ll conservatively have another $650 to pay. When that starts, our balance should be around $23,000. Adding a portion of the rent payment should mean we pay off the house in May 2014. However, when I bring in our side hustle money, that will bring us back to September 2013.
Crystal’s projected payoff is July 2013, so I’ll have to hustle.
Counting Cards: How to Cheat At Blackjack
I don’t gamble much. I’ve got this boring kind of luck that let’s me gamble for a really long time on not much money, without ever winning big.
For example, when my wife was very pregnant with our first monster, we took a trip to visit my parents. It’s a 2 hour drive, and she needed a break halfway there. In the truck stop, we bought $5 worth of scratch-offs to pass some time. We turned in the winning tickets for more scratch-offs. And again. And again. Two hours later, we were out of winners, but had never accumulated more than $10.
Another time, we went to the casino to play slots. It took nearly 8 hours to spend $20. That sounds boring, but we had good conversation while we were playing.
I’ve never had a big win or a big loss from gambling, so I’ve always been kind of bored with the idea.
Now, cheating at blackjack, that’s a different matter. Pulling one over on the casino without getting caught…they make movies about that kind of stuff.
To be clear: counting cards in your head isn’t cheating. Legally, the worst that can happen is you can be asked to leave. To get a Hollywood-I-cheated-the-casino-and-got-caught-and-beat-by-the-mob kind of beating, you need to win a lot.
A lot.
To get started, there are a few things you need to know. One of those things is how to play blackjack, but I’m not going to get into the basics. If you don’t know how to hit, stand, or count to 21 without taking your clothes off, this guide may be too advanced for you. Come back later.
Super Basic Strategy
You don’t need to count cards to use this strategy. You will do better than most players if you follow along.
1. The dealer must hit, or take another card, if he has 16 points. If he has 17, he stands.
2. The hole card–the card you can’t see–is always worth 10. Of course, it’s not, but for the purposes of your strategy, assume it is.
That means, when the dealer is showing a 2, you’ll assume he’s got 12 points and will hit. If he’s showing a 7, you’ll assume he’s going to stand. If he’s showing an 8, your goal is to beat 18, not push for 21.
That’s it. If you do that, you’ll come within a couple of points of even odds against the house. Google “blackjack basic strategy” if you want to improve this.
Even odds isn’t good enough.
Card Counting
Counting cards sounds tough. Rain Man tough.
It’s not, but you’ll want to practice at home a bit before you try it in the really real world.
The rules are simple:
1. Cards 2-6 are worth 1 point.
2. The 10, jack, queen, king, and ace are worth -1.
3. For every card that is played, keep track of that score. This is a running score across multiple hands until the deck is replaced or shuffled, so don’t stop at a new deal.
4. Divide the running score by the number of decks remaining in the shoe. If there are approximated 150 cards in the dealer-thingy, that’s 3 decks, so divide by 3. If your running score is 18, that means the number your playing against is 6. If the casino is using a continuous-shuffling thingy, forget counting the cards.
That’s it. You’re never adding or subtracting more than a one, and you’re doing that against a number that tends to stay pretty low.
How do you use that, you ask? Easy.
When the score is up, bet higher. If it’s low or negative, bet lower. The higher the number, the higher your bets. If you’ve got a 5, a 6, or more, bet as much as you are comfortable with. If your playing score is low or negative, bet close to the table minimum.
Why does this work?
A higher score indicates that the main assumption of the super basic strategy is more likely to be true. When you’ve got a score of 10, you know a lot of lower-value cards have already hit the table, so it’s safer to assume that the dealer’s card is worth 10.
You don’t change anything about the way you play each hand, you just change the way you bet each hand. Counting cards doesn’t tell you specifically what’s going to happen during each hand, it just tackles the statistics of the game. It moves the odds in your favor, by up to 2 or 3 percent. Over one hand, this won’t help, so don’t sweat losing a hand here and there. Over an entire shoe of hands, you should be able to steadily win more than you lose.
And, as Brian Brushwood says, in the course of your life, very few things make a cooler story than getting kicked out of a casino for counting cards.
Do you play in casinos? Ever tried to cheat?
