Am I the only one who just noticed that it’s Wednesday? The holiday week with the free day is completely screwing me up.
Just to make this a relevant post:
Spend less!
Save more!
Invest!
Wee!
Be Prepared or Be Me
We had some nasty storms roll through over the weekend. There was a lot of tornado-ish activity, 70 mile-an-hour gusts of wind, hail, and an electrical blackout. For almost 24 hours, we were living in the stone age, with nothing but smartphones for internet, and high-lumen flashlights being used to see. With no cartoons for the girls, we were forced to read them bed-time stories, while my son and his friends were forced to use their imaginations to entertain themselves.
Every time we called, the electric company added 12 hours to their estimated repair time. Amazingly, they came in 7 hours ahead of schedule, if you don’t count the first two revisions.
By Saturday afternoon, we were out shopping for things we should have already had ready.
For years, we had discussed buying a generator. For some reason, it never became a priority. We have a large freezer and refrigerator full of food. With no electricity, a generator was suddenly prioritized. All of the places near us were sold out of budget-priced generators when we decided it was better to drop $400 on that than to lose $600 worth of food. We did find one, eventually, but it would have been better to take it out of the garage than have to shop for it when we needed it. Naturally, 10 minutes after we got it home, the power came on. Do yourself a favor: if you own a home and have a small corner available for storage, start shopping for a generator. Pick one up on sale instead of waiting until you have no real choice.
We have a ton of batteries. It’s one of the things we stock up on when they are on sale. Unfortunately, our broadest-beam flashlight takes a 6-volt battery, and we don’t keep a spare. By the end of the night, it was getting pretty yellow and dim. Another night would have killed it completely. This wasn’t a widespread blackout, so there was no shortage of batteries, but it would have been nice to have the spare already at home. Check your emergency supplies and make sure you have replacement batteries that fit everything you need.
The one thing that would have improved the night most is a good lantern. We had our 5, plus two of my son’s friends all trying to play board games by flashlight. A lantern could have been set on the entertainment center and lit most of the room.
For everything we were without due to the blackout, the one thing I truly missed was the air conditioner. When the storm died, so did the wind. Completely. Opening all of the windows didn’t help at all. Other than that, it was nice to have everyone forced to interact. Nobody was whining about being bored and we were all having fun.
I want to schedule a pseudo-blackout more often.
How to make Forex spread betting accessible to you
Easy to start and accessible, spread betting UK wide has grown in popularity. Forex spread betting in particular has attracted interest from traders all over the country, since it is a leveraged (or margined) product, which means that you are only required to deposit a small percentage of the full value of your position to place a forex trade. This means that the potential for profit, or loss, from an initial capital outlay is significantly higher than in traditional trading. They can go either long or short on their chosen currencies and can trade across a number of currency pairs. While Forex spread betting can be exciting, for newcomers, there are a few things to do before commencing trading. With advice from experts such as City Index, there is a possibility of being a successful trader.
The first thing any new trader should do is research their market. A combination of technical and fundamental analysis usually works: some traders follow one more than the other, as it works better for them. Over time, you’ll find which research style works for you, while doing so before each trade will help you when looking at each currency pair.
Creating a clear, easy-to-follow spread betting plan is vital. Doing so will prepare you for each trade you make, while simultaneously eliminating any indecision you may have in the event of not having a plan. When trading, it’s also important to make use of the many risk management tools at your disposal. They mean that any potential losses are limited to a pre-set level.
Tying in with any research you do, following the news constantly is imperative. Monitoring any stories which will have a direct impact on the market you’re spread betting on, and looking at the live market regularly is especially important with Forex spread betting.
For beginners in Forex spread betting, there are plenty of resources available online for anyone with an interest in getting into it. Websites of companies like City Index have everything you need to help get you started.
Twitter Weekly Updates for 2010-04-03
- Screw April Fool's Day. I'm about ready to clear my entire feed queue. #
- I definitely need a reason to get up at 5 or I go back to sleep. #
- Bank tried to upsell me on my accounts today…through the drivethru. #
- Motorcycle battery died this morning. Surprise 4 mile hike. #
- RT @ramseyshow 'The rich get richer &the poor get poorer' is true! Rich keep doing what rich people do & poor keep doing what poor people do #
- RT @ramit: "How do you know if someone is a programmer?" I cannot stop laughing imagining half my programmer friends – http://bit.ly/9MOipi #
Why I chose a prepaid credit card
This is a guest post.
You can’t get credit without a credit card, and you can’t get a credit card without good credit. This is a dilemma that many people find themselves facing, whether they are trying to re-establish their credit or build credit for the first time. In fact, this is the dilemma that I found myself in. My solution was to get a prepaid card, and here’s why.
The Real Deal with Prepaid
Prepaid credit cards have earned a mixed reputation over the years. While it’s true that they usually have more fees than a regular credit card, they also offer a financial solution for people who don’t have good credit. And you should also keep in mind that they don’t charge interest because the cash that you are using is yours to begin with. The important thing to remember about prepaid cards is that they are a means to an end; once you rebuild your credit, you’ll find it much easier to apply for a card with better rates and fewer fees.
In addition, prepaid cards offer several advantages. The most important one for me was the convenience of having a card that I could use to make purchases. Prepaid cards look and work exactly like regular credit cards (you don’t have to enter a personal identification number to use them), so the only one who knows it is prepaid is me. And while I use cash for everyday purchases, there’s no avoiding the need for a card when you have to shop online or pay for gasoline at the pump, for example. Most digital merchants only accept payments from cards linked to large financial brands like Mastercard and Visa, and my card gives me a way to buy what I need from whoever has it in stock. In addition, my prepaid card offers me a way to keep track of all of my purchases electronically, which is helpful since I am trying to keep a closer eye on my budget.
Prepaid cards also offer security. Cash can easily be lost or stolen, but if you lose a prepaid card, you can easily get a replacement. More importantly, your balance is protected by a replacement guarantee from your bank, which comes in handy if you ever have to dispute fraudulent charges.
Perhaps the most convenient factor of a prepaid card, though, is how easy it is to get one. You don’t have to have a bank account in your name to receive a prepaid card. However, if you do have an account, you can easily link it to your prepaid card.
Changing my spending habits and getting out of debt hasn’t been easy for me, but one way for me to show creditors that I am getting better at managing finances is to build my credit with my prepaid card. It’s also a way for me to eventually be able to make big purchases that are necessary, such as a car, and hopefully one day, a home. Prepaid isn’t for everyone, but if you find yourself considering this option, it’s worth a second look.
Credit Peril
When my mother-in-law died, we went through all of her accounts and paid off anything she owed.
The Discover card she’d carried since the 80s–a card that had my wife listed as an authorized user–had a balance of about $700. We paid that off with the money in her savings account. They cashed out the accumulated points as gift cards and closed the account.
A few months ago, we decided it was time to buy an SUV, to fit our family’s needs. We financed it, to give us a chance to take advantage of a killer deal while waiting for the state to process the title transfer on an inherited car we have since sold.
Getting good terms was never a worry. Both of us had scores bordering on 800. Since our plan was to pay off the entire loan within a few months, we asked for whatever term came with the lowest interest rate.
Then the credit department came back and said that my wife’s credit was poor. I chalked it up to a temporary blip caused by closing the oldest account on her credit report and financed without her. No big deal.
Since we decided to rent our my mother-in-law’s house, we’ve discussed picking up more rental properties. That’s a post for another time, but last week, we went to get pre-approved for a mortgage. During the process, the mortgage officer asked me if my wife had any outstanding debt that could be ignored if we financed without her.
Weird.
A few days ago, we got the credit check letter from the bank. Her credit score? 668.
What the heck?
I immediately pulled her free annual credit report from annualcreditreport.com, which is something I usually do 2-3 times per year, but had neglected for 2012.
There are currently two negatives on her report.
One is a 30 day late payment on a store card in 2007. That’s not a 120 point hit.
The other is an $8 charge-off to Discover. As an authorized user. On an account that was paid.
Crap.
We called Discover to get them to correct the reporting and got told they don’t have it listed as a charge-off. They did agree to send a letter to us saying that, but said they couldn’t fix anything with the credit bureaus.
Once we get that letter, it’s dispute time.
