- RT @MoneyMatters: Frugal teen buys house with 4-H winnings http://bit.ly/amVvkV #
- RT @MoneyNing: What You Need to Know About CSAs Before Joining: Getting the freshest produce available … http://bit.ly/dezbxu #
- RT @freefrombroke: Latest Money Hackers Carnival! http://bit.ly/davj5w #
- Geez. Kid just screamed like she'd been burned. She saw a woodtick. #
- "I can't sit on the couch. Ticks will come!" #
- RT @chrisguillebeau: U.S. Constitution: 4,543 words. Facebook's privacy policy: 5,830: http://nyti.ms/aphEW9 #
- RT @punchdebt: Why is it “okay” to be broke, but taboo to be rich? http://bit.ly/csJJaR #
- RT @ericabiz: New on erica.biz: How to Reach Executives at Large Corporations: Skip crappy "tech support"…read this: http://www.erica.biz/ #
How Much Should You Tip?
- Image by cemre via Flickr
This post from CNN Money has been making the rounds. I’m getting into the game today.
With the holiday season upon us, tipping the people you work with is a tradition in some cases and actually expected in others. Here’s what CNN came up with and my take:
- Housekeeper. We don’t have one. I’d think $75-100 would make a nice tip/Christmas bonus. I seem to be more generous than average with my imaginary maid. Maybe that’s because of the outfits she wears.
- Gardener. Once again, we don’t have one. Even if we did, I live in Minnesota and have close to a foot of snow over the patch of weeds I call my garden. If I did have a gardener, I wouldn’t have seen him for a few months by now, anyway. $0!
- Mail carrier. I’ve only met my mail man a dozen times and I’ve never considered giving him a Christmas present. Do people really do that?
- Barber. I don’t have one any more. My wife has started doing my hair for me. When I did, I tipped about 25%, but again, I wouldn’t think about a Christmas present. I only saw him quarterly. I don’t think my wife has a regular stylist either. She’s just got a shop she goes to and gets whoever is available. Is there holiday tipping protocol for that?
- Garbage collector. No way. Really? I don’t know that I’ve seen the same guy twice. Am I supposed to give a present to the anonymous, interchangeable union guy that drives past my house every Friday?
- Newspaper carrier. One night, twelve years ago, while my wife was still working graveyard shifts, she had a hard time sleeping on her nights off. That’s natural for 3rd shift workers. At about 4AM, she was watching TV and saw someone run past the window. Scared, she came to wake me up. I handed her the phone to call the police, while I grabbed the only thing I had for self-defense and went to investigate. I ran out on the front step–in my boxers, carrying a sword–and saw someone lurking in the neighbor’s yard across the street. I yelled, “Y0u don’t belong here!” only to hear “I’m delivering the paper!” That’s when I start tipping the newspaper carrier. I stopped when we canceled our subscription a few years later. Who needs a dead tree in the morning, when there are a million news sites on the internet?
If the majority of people are giving Christmas bonuses to that many people, and are as generous as the article suggests, then I fall far to the loutish end of the bell curve. I am planning to give my virtual assistant 1/12 of the pay he’s earned this year, so that should make up for some of it, but that is an ongoing business relationship.
How do you compare when it comes to holiday tipping?
My Net Worth
While I find it fascinating to read about other people’s net worth, I’ve never bothered to figure out my own. With the start of the new year, I thought it would be fun to do. This is me, upping my personal transparency bar.
Assets
- House: $255,400. Estimated market value according to the county tax assessor.
- Cars: $23,445. Kelly Blue Book suggested retail value for both of our vehicles and my motorcycle.
- Checking accounts: $2,974. I have accounts spread across three banks.
- Savings accounts: $4,779. I have savings accounts spread across a few banks. This does not include my kids’ accounts, even though they are in my name. This includes every savings goal I have at the moment.
- CDs: $1,095. I consider this a part of my emergency fund.
- IRAs: $11,172 (Do you know your IRA contribution limits? Do you have a Roth IRA?)
- Total: $298,865
Liabilities
- Mortgage: $33,978
- Car loan: $1,226. This will be paid off this month.
- Credit card: $23,524. This is the next target of my debt snowball.
- Total: $58,728
Overall: $240,137
Update: I wrote and scheduled this before I paid off my car loan.
Playing For Blood
Kris at Every Tips and Thoughts wrote a post about games and letting her kids win feeling bad about winning. I disagree. This post is an expansion of my comment there.
When we play games in my house, we play for blood. I’ve never let my kids win and they know it. From the first time the kids attempt Memory, they know they’ve got to earn a win against Mom and Dad. They know if they lose, they must do so gracefully. If they pout or cry, they lose game privileges for a while. I demand good sportsmanship, win or lose.
To be clear, my kids are 3, 4, and 11 and they are all held to the same standards of sportsmanship. Win or lose, they will do so gracefully. There will be no temper tantrums when they are Sorry’d and no pouting when the Queen is captured.
It took my son almost 3 years to beat me at chess. When it finally happened, he was almost as proud as I was and still talks about it 5 years later.
It’s not much fun playing games with his friends. They were coddled and expect to win everything. I have to take away game privileges just like I do for my 3 year old. They hate that because we have the coolest board games. Nobody else has games that involve zombies or disembodied brains.
What has the result been?
My kids love playing games. This week, my oldest has been teaching his sisters how to play Life. When he visits his friends, he’s as likely to bring a board game as an electronic game. He’s got a good mind for strategy, and I can’t remember the last time he pouted when I tromped him.
My 4 year old hasn’t mastered gamesmanship yet, but she will. When I threaten to put the game away, she wipes her eyes, and keeps playing, even if her jaw is chattering. She knows what is expected and works to live up to it.
Both of the older kids are competitive. They’ve never had a win handed to them, and they have each had wins they had to work for, and they know how it feels to win and earn it.
The youngest doesn’t care if she wins, she’s just happy to play. In my experience, the competitive gameplay gene doesn’t activate until 4.
In my mind, the real world won’t hand them any wins, so I might as well start teaching them how to work for it now.
How about you? Do you let your kids win, or do you teach them that all games are bloodsports?
The High Cost of Keeping Richard Ramirez in Prison
Serial killers in the United States often gain cult status due to their strange courtroom antics and dramatic personalities. Recently deceased death row inmate Richard Ramirez was definitely one of the most famous serial killers of all time before he passed away of liver failure in California’s San Quentin State Prison.
After a dramatic arrest in 1985 in East Los Angeles by residents who recognized Ramirez from photographs displayed all over the news, Ramirez would sit in jail for years while awaiting a trial that finally began in 1989. There would be no more expensive trial in the history of Los Angeles County except for the O.J. Simpson trial that occurred a few years later.
At a cost of $1.8 million dollars, Los Angelinos would pay dearly for the privilege of trying Ramirez in a court of law. Incredibly, however, this massive sum wasn’t the only cost associated with this vicious serial killer. Because he was sentenced to death and due to the incredibly long appeals process associated with death row inmates, Ramirez sat in jail for over two decades without any fear of actually being put to death by the state of California.
Over the past hundred years, the number of individuals incarcerated in the United States has ballooned from a few hundred thousand people to almost 2.5 million prisoners. The most expensive people to incarcerate are death row inmates, who sit in a type of solitary confinement for decades. A moratorium on future executions in California has ensured that inmates like Ramirez have been costing taxpayers millions of dollars for housing and appeals with no likelihood of being put to death.
According to the American Civil Liberties Union, there are around 700 people sitting on death row in California, which require a massive investment of tax dollars. The state’s ongoing budget crisis and inability to balance its budget has put great strain on the prison system to house so many death row inmates at such an incredible cost.
Richard Ramirez’s untimely death at the age of 53 and his decades-long residency within a state prison brings to light a disturbing fact: more inmates die of natural causes while on death row than are actually put to death. Whether support for the death penalty exists or not, the billions of dollars spent by the state to keep inmates on death row has resulted in just 13 executions since the late 1970s.
A study in 2011 that was conducted by a judge and professor in the state suggested that California has spent over $4 billion since the death penalty was reinstituted. Out of those funds spent, at least a billion dollars was used for housing and incarceration of the inmates, including serial killers like Richard Ramirez.
A further study presented by the Commission on the Fair Administration of Justice in 2008 suggested that keeping the system intact with inmates on death row would cost around $137 million dollars a year. On the other hand, if California was to commute those death sentences to life in prison and abolish the death penalty, the yearly cost would drop to $11.5 million a year.
Offering the families of victims of death penalty-worthy crimes the chance to see a killer or other criminal experience the ultimate punishment may offer some sort of closure. Unfortunately, with the expectation that individuals on death row are more likely to die of natural causes than be put to death in California, the implementation of the death penalty in the state must be reexamined.
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The Magic Toilet
- Image by tokyofortwo via Flickr
My toilet is saving me $1200.
For a long time, my toilet ran. It was a nearly steady stream of money slipping down the drain. I knew that replacing the flapper was a quick job, but it was easy to ignore. If I wasn’t in the bathroom, I couldn’t hear it. If I was in the bathroom, I was otherwise occupied.
When I finally got sick of it, I started researching how to fix a running toilet because I had never done it before. I found the HydroRight Dual-Flush Converter. It’s the magical push-button, two-stage flusher. Yes, science fiction has taken over my bathroom. Or at least my toilet.
I bought the dual-flush converter, which replaces the flusher and the flapper. It has two buttons, which each use different amounts of water, depending on what you need it to do. I’m sure there’s a poop joke in there somewhere, but I’m pretending to have too much class to make it.
I also bought the matching fill valve. This lets you set how much water is allowed into the tank much better than just putting a brick in the tank. It’s a much faster fill and has a pressure nozzle that lies on the bottom of the tank. Every time you flush, it cleans the inside of the tank. Before I put it in, it had been at least 5 years since I had opened the tank. It was black. Two weeks later, it was white again. I wouldn’t want to eat off of it, or drink the water, but it was a definite improvement.
Installation would have been easier if the calcium buildup hadn’t welded the flush handle to the tank. That’s what reciprocating saws are for, though. That, and scaring my wife with the idea of replacing the toilet. Once the handle was off, it took 15 minutes to install.
“Wow”, you say? “Where’s the $1200”, you say? We’ve had this setup, which cost $35.42, since June 8th, 2010. It’s now September. That’s summer. We’ve watered both the lawn and the garden and our quarterly water bill has gone down $30, almost paying for the poo-gadget already. $30 X 4 = $120 per year, or $1200 over 10 years.
Yes, it will take a decade, but my toilet is saving me $1200.
