- RT @ScottATaylor: The Guys on "Pickers" should just follow the "Hoarders" teams around- perfect mashup #
- PI/PNK test: http://su.pr/2umNRQ #
- RT @punchdebt: When I get married this will be my marital slogan "Unity through Nudity" #
- http://su.pr/79idLn #
- RT @jeffrosecfp: Wow! RT @DanielLiterary:Stats show 80% of Americns want to write a book yet only 57% have read at least 1 bk in the last yr #
- @jeffrosecfp That's because everyone thinks their lives are unique and interesting. in reply to jeffrosecfp #
- @CarrieCheap Congrats! #CPA in reply to CarrieCheap #
- @prosperousfool I subscribe to my own feed in google reader. Auto backup for in between routine backups. Saved me when I got hacked. in reply to prosperousfool #
- @SuzeOrmanShow No more benefits? I bet the real unemployment rate goes down shortly thereafter. in reply to SuzeOrmanShow #
- Losing power really make me appreciate living in the future. #
Welcome to Unemployment
Last week, I was let go from my job. The reasons are unimportant.
http://gty.im/167334756
So now, I am unemployed right before Christmas.
And my renters are moving out at the end of the month.
Normally, this should be a time for panic, but strangely, it’s not.
It actually came with a feeling of relief. Again, the reasons are unimportant.
But still, my predictable income has suddenly become unpredictable.
It is times like this that I’m glad I’ve spent the last 5 years crushing my debt. I currently have about $1000 on a credit card from my monthly expenses and around $10,000 on my mortgage.
That’s it. There’s no soul-destroying credit card debt. No car payment.
Trimming down to the not-painful-but-not-barebones basics puts my monthly nut at $3300. Leaving a bit of comfort and savings in place, that jumps to $4000.
Our income from my wife’s job and the renter in our home comes to about $1600 per month. That’s $1700 per month that we’re off from the basics and $2400 we’re off from a comfortable level.
However, I expect to have our rental house rented by the end of the year. There are some repairs we have to make after the current tenants leave. That will bring in a minimum of $1200 per month, hopefully $1500. That closes the gap to $500-1200.
Now, aside from the biggest benefit of killing out debt(no monthly payments!), we’ve also been saving about 20% of our income outside of our retirement accounts. We have enough to bridge that gap for 25-60 months. Unemployment will also provide enough to cover the difference for about 6 months. That means without doing any side work…sitting on my butt playing video games…I could cover my bill comfortably for two and a half years. If I cut down to bare minimum expenses, I can stretch that to nearly 7 years.
That’s why I don’t drive a new car or wear expensive clothes. That’s why I don’t vacation on my credit cards. That’s why my kids don’t have the latest, greatest video game systems and we don’t have a big screen TV.
It’s because we chose to prioritize our financial security over pure luxuries. We chose to sacrifice optional things now so we wouldn’t have to sacrifice things like food if life took a surprise turn down a bad road.
Now, before anybody reads this and understands it as “Jason’s taking a decade off”, in the week I’ve been unemployed, I’ve had 2 phone interviews, and a request for another. One of those has turned into a tentative job offer already. I expect to remain unemployed for less than a month.
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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Twitter Weekly Updates for 2010-05-01
- RT @Dave_Champion Obama asks DOJ to look at whether AZ immigration law is constitutional. Odd that he never did that with #Healthcare #tcot #
- RT @wilw: You know, kids, when I was your age, the internet was 80 columns wide and built entirely out of text. #
- RT @BudgetsAreSexy: RT @FinanciallyPoor "The real measure of your wealth is how much you'd be worth if you lost all your money." ~ Unknown #
- Official review of the double-down: Unimpressive. Not enough bacon and soggy breading on the chicken. #
- @FARNOOSH Try Ubertwitter. I haven't found a reason to complain. in reply to FARNOOSH #
- Personal inbox zero! #
- Work email inbox zero! #
- StepUp3D: Lame dancing flick using VomitCam instead or choreography. #
- I approve of the Nightmare remake. #Krueger #
Lost Wallet: What to Do Before It’s Gone
I’ve never been mugged. Hopefully, fate has decided that I never will be. Given my habits, it is far more likely that my money clip will fall out of my wallet without me noticing.
That’s a significant piece of my life. That would mean I lost my driver’s license, my debit card, my business credit card, my insurance cards, my carry permit, and the only credit card I carry.
What happens when you lose your wallet? You go to the DMV and get your driver’s license replaced. You call your credit card companies and ask them to invalidate your credit card numbers and send you new cards. You write off the missing cash and hope you don’t need the business cards that you tucked in behind the photo of your great-grand-uncle’s neighbor’s cousin’s mistress’s puppy.
How do you reach your credit card company? You take the card out of your wallet, flip it over, and call the number on the back. But you lost your wallet? What now?
Do you have every statement, that comes with the phone numbers you need to call? I don’t. At this moment, I do not have the phone number for the bank that issues the debit card for my Health Savings Account. I don’t actually know who issued the card. I don’t even know who I would call to report the card missing.
How do you prepare for that? What can you do do make your life much less miserable when your wallet walks aways with a pickpocket, or falls out of your pocket while you’re tooling down the highway on the back of a motorcycle doing 100 miles per hour, dodging the police and winking at the innocent passerby rocking out to really bad back-room country western music in a late model orange convertible? (That’s probably just me.)
How would you prepare for a lost wallet?
There is an 6 step solution to remove all of the worry about someone finding your wallet and using your credit card to fund a Russian adult chat membership, the only site where basement-dwelling losers can talk to someone pretending to be the cooperative mail-order bride they are about to order.
- Take everything that matters out of your wallet.
- Find a copy machine or a scanner.
- Put everything from your wallet on the scanner.
- Scan it.
- Flip the cards over and scan again.
- Either print the scan and put it in a fire-proof safe, or encrypt it and email it to someone you trust who does NOT live in the same house you do. If your house burns down, you want to have access to the files.
Depending on the number of things you keep in your wallet, you might have to repeat the steps a few times to get it all copied. You definitely want to copy both sides, so you can have the card numbers and the phone numbers saved.
Now, if you lose your wallet, you have all of the information you need to deal with the problem and get those cards cancelled.
How do you track your cards and contact information?
Saturday Roundup
This weekend, my wife is spending three days scrapbooking, which makes it a great time to visit my parents and let my niece and nephew entertain my girls for me.
Best Posts
Following your passion doesn’t always pay the bills. Sometimes, there is a tangent that can cover the mortgage while still allowing you to do what you love.
Not everyone enjoys it, but cooking isn’t hard. It’s not even a talent, but a skill that can be learned. Winging it, or creating your own dishes is a talent.
Did you know the spork’s predecessor was invented thousands of years ago?
Here’s a site to help you avoid conflicts with local customs when you travel.
Potluck game night. I think we need to make this happen at our house.
Carnivals I’ve Rocked
6 Ways to Stretch a Meal was an Editor’s Pick in this week’s Festival of Frugality. GenX Finance rocks.
Cheap Drugs – How I Saved $25 in 3 Minutes was included in the Carnival of Personal Finance.
Questions From a Reader was in the Carnival of Money Stories.
Thank you!
If I’ve missed anyone, please let me know.