Posts Tagged ‘Personal finance’

Tuesday TubeWatch: You are being taxed to watch this

Tuesday, April 7th, 2009

(Well, I assume that the cost of internet access is taxed everywhere, but maybe not. If you don’t get taxed for that… congratulations.)

I was doing my taxes this weekend, so I figured now was as good a time as any for a tax related post. So here you go… a song about taxes. Enjoy.

And ’cause I’m generous, here’s a bonus song! (I know, I know… I’m a giver, what can I say?)

All you ‘mer’cans… get them taxes paid! Only 8 days left!

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Does steak cost less delivered in bulk?

Thursday, March 26th, 2009

Earlier this week, Gather Little by Little ran an article about Omaha Steaks, and how expensive it was in comparison to the grocery store. His calculations had the meat coming in at anywhere from $38-44 per pound. Even for good steak, that’s pretty expensive.

Coincidentally, I purchased bulk steak from a competitor of Omaha, US Beef, a little more than a week earlier. This was a door-to-door sale—something I usually am able to turn away. But I’ve always wanted to try these delivered services anyway, and he was knocking huge amounts off the full price (the story was that he had leftovers from another delivery… I don’t really buy that, but it’s irrelevant) so I gave him a shot.

He was going to give us two packs for the price of one: $369. That was an easy “no.” The price kept dropping, though. $325… $300… eventually down to $250 for two packs. Even at that price, I still would have said “no” and gone on with my day, but it so happened that a friend was over at the house and offered to split it with me. That turned out to be $125 for a case of 61 pieces of meat (which isn’t quite as impressive as it sounds, as most are burgers, but stay with me). At that price, it was certainly worth considering.

Here’s what was included:

  • 5 – 12oz NY Strips
  • 8 – 6oz Filet Mignons wrapped in bacon
  • 8 – 7oz NY Strips
  • 8 – 4oz center cut sirloins
  • 8 – 4oz pepper steaks
  • 24 – 4oz sirloin burger patties

Doing the math, that’s 20.25 lbs of meat, for a cost per pound of $6.17. For steak, that’s not bad at all.

Comparing against a local grocery store, the NY Strips ($5.56/lb for the 12oz US Beef) came out over $3 cheaper per pound than the sale price at the store. Even the burgers (at $3.47/lb from US Beef) were $0.40 cheaper per pound in my order.

Spreadsheet for calculating costs

Spreadsheet for calculating costs

Now, of course, that’s with the discounted price I and my friend got. If I paid full price, would it have worked out as well?

Not so much.

At the full $369 per pack, the cost per pound works out to $18.22 – definitely more expensive than I would pay (but interestingly, way less than GLBL reports for Omaha, though there may be a quality difference). The maximum I’d be willing to pay for the pack I got is probably $175, which would work out to $8.64/lb overall.

Does it look like I got the math right? Do you have any experience with bulk food delivery to your house? Does it seem like a good deal to you? Leave a comment.

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Three years of yammering on…

Tuesday, December 9th, 2008

Three years ago today, at 11:48pm, I wrote these amazingly insightful words:

Check it out…

Friday, December 9th, 2005

Looks like I am officially blogging. I am too cool for words. (Ironic, isn’t it.)

Thusly did this, my first blogging experience, begin. Pretty sad, really, but there you have it. Now here we are, three years and over 400 posts later, and I figure it’s about time I looked back to see if I’ve ever written anything worth reading. (I figure I must have said something worthwhile at some point. It can’t be complete inanity, can it?)

To that end, here is a list of the posts I’ve written over the last three years that I think are worth a second look, roughly broken by category.

Comics (not much to choose from here, really)

Corporate World/Learning (there’s too much overlap between these to justify separating them for this purpose)

Movies & TV (includes Reviews & Sci-Fi)

Music

Hmm… honestly this category is pretty new and I like almost all the posts. If I had to choose just three though:

Other

Parenting

Personal Finance

Technology

Well, what do you know… that list turned out longer than I thought. I probably wasn’t as judicious as I should have been in a couple categories, but I really think most of those posts don’t get the traffic they deserve – especially the Corporate World/Learning set, though I know the audience for that is limited.

Anyway… I hope you click through to at least a couple of them. It’s been a fun experience to write this stuff for the last three years, and I hope it hasn’t been too boring for you (but then, no one’s forcing you to read this… unless you’re my wife).

Also, if you have any suggestions for things you’d like to see here in the future, please let me know in the comments. I really do like feedback.

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Personal Finance advice from “Dilbert”

Monday, November 17th, 2008

Vanguard − The “Dilbert” guide to personal finance

This list from Scott Adams, the creator of Dilbert, is about 2 years old, but I just saw it for the first time, and I think it’s an excellent distillation of the basics of personal finance. It really focuses in on exactly what I’ve been reading about in the couple of years that I’ve been getting more serious about personal finance.

Everything you need to know about financial planning*

  1. Make a will.
  2. Pay off your credit cards.
  3. Get term life insurance if you have a family to support.
  4. Fund your 401(k) to the maximum.
  5. Fund your IRA to the maximum.
  6. Buy a house if you want to live in a house and you can afford it.
  7. Put six months’ expenses in a money market fund.
  8. Take whatever money is left over and invest 70% in a stock index fund and 30% in a bond fund through any discount broker, and never touch it until retirement.

If any of this confuses you or you have something special going on (retirement, college planning, tax issues) hire a fee-based financial planner, not one who charges a percentage of your portfolio.

* Dilbert and the Way of the Weasel, Collins, New York, 2002, p. 172.

On the Vanguard page, a bunch of experts weigh in with their opinions on the advice, all of which is positive.

I’ve got #1 and #2 in progress right now. #3 would be next in line. Numbers 4-7 are in various states of completion/planning, though funding the IRA and 401(k) to the maximum is currently a bit of a stretch goal. Number 8? Yeah, well I suppose I’d have to have money left over for that to happen.

These are all long-term goals, but any progress toward them is good. I’m happy that I’m making some headway.

Speaking of goals, and Dilbert:
Dilbert.com

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Saving 12% in interest in 10 minutes

Saturday, July 26th, 2008

I just saved myself 12% in interest fees in a 10 minute conversation.

I’ve been working in earnest to get myself out of credit card debt for a few years now. Back when the economy was doing a bit better, I found a great deal with CitiCard to pay 3.99% on my balance transfer per month for the life of the balance. Naturally, I put as much of my existing debt on that card as I could. Since then, I’ve paid just a little above the minimum on that card while I concentrate on the higher interest balances. So far, this has worked out pretty well, and I’ve made a significant dent on my overall debt.

This month, I screwed up.

Despite the alerts and warnings I set up for myself, I missed one due date by 12 hours. It was stupid, and my fault. Today, I got a message that my APR for that card jumped from 3.99% to 15.99%, and I received a $40 late fee.

That would put a serious crimp in my payoff plans. I called CitiCard and told them I was sorry for missing the due date by 1 day, and emphasized that I had not ever been late in paying them before. Then I asked them to reinstate the original APR – and offered to pay the late fee. After a few minutes on hold, and with no argument, they agreed.

I could probably have talked them out of the $40, but I accept that I missed the date, and that’s a valid punishment (even if I do think it’s exorbitant). I’m willing to take that hit. But the more important thing is that I avoided a 12% increase long-term. That’s going to save me some serious money.

Calling the credit card companies can work!

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How to spend less on gas

Wednesday, May 7th, 2008

10 Simple Changes That Save Gas | The Wisdom Journal

All 10 of these tips are good, and relatively easy to accomplish. Here are first five, with my own thoughts. For the rest, and the original commentary, click through the link above:

  1. Make as many right turns as possible. UPS and FedEx both think it’s important. Look into it. (Hint: less time sitting idle.)
  2. Smooth rides. Don’t floor it ’till you brake it. Smoothly accelerate and decelerate.
  3. Drive under 60, even on the interstate. This one hurts, but the facts blow me away. In fact, I’m just going to quote the Wisdom Journal directly…
  4. According to the EPA, you can assume that each 5 m.p.h. you drive over 60 m.p.h. is like paying an additional 20 to 25 cents per gallon of gas. Wow!

  5. Watch your tire pressure. I knew this already, but it’s easy to get lazy about it. 4-10% decrease in gas mileage is substantial, though!
  6. Stop for yellow lights. This goes along with #2, really.

So, check out the original article for some helpful tips (and thanks, Ron).

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What I’m going to do with my summer

Saturday, April 26th, 2008

Lots of movies are coming out this year that I would love to see in a theater, rather than waiting for DVD.

Here’s the list, in order of release, with release date. Boldface indicates movies I will not miss in the theaters – the others I will be disappointed if I have to miss for one reason or another:

  1. Iron Man – May 2
  2. Speed Racer – May 9
  3. The Chronicles of Narnia: Prince Caspian – May 16
  4. Indiana Jones and the Kingdom of the Crystal Skull – May 22
  5. The Incredible Hulk – June 13
  6. Get Smart – June 20
  7. Wall-E – June 27
  8. Hancock – July 2
  9. The Dark Knight – July 18
  10. The X-Files: I want to believe – July 25
  11. The Mummy: Tomb of the Dragon Emporer – August 1
  12. Star Wars: The Clone Wars – August 15
  13. Quantum of Solace (James Bond) – November 7

Hmmm… 13 nights of babysitting to line up, plus approximately $234 in movie tickets (assuming $9 per ticket, and that my wife will accompany me). That’s gonna screw up my budget a bit. If I keep it to the essentials, that’s still $90. At least it’s double digits.

Okay, let’s say I get discount tickets for $6 through work and go after the restrictions are lifted (which may be too difficult a wait for some of these, but let’s just assume I can hack it): cost for all = $156; cost for the essentials = $60.

Of course, that doesn’t include the concession stand….

Sometimes I hate loving movies.

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My economic stimulus rebate is going to…

Tuesday, March 18th, 2008

How should I spend my economic stimulus rebate?

Over at Gather Little by Little (link above), Glblguy reviews his decision with his wife about what to do with his economic stimulus rebate. All of us (in the US, anyway) have the same decision to make. There are, as he points out, about 4 options:

  1. Pay off debt
  2. Buy stuff
  3. Save/invest it
  4. Go on a trip/vacation

What do I want to do with it? Buy stuff. Between lawn care/landscaping and computer stuff, we “need” some things for this house that I either can’t afford at the moment, or don’t have a place to store (which leads into wanting to purchase a shed, which ain’t cheap).

What I really want to do with it is take a vacation, but that’s not even close to a realistic priority.

What are we actually going to do with it? We’re going to split it up a bit. We just bought a new vacuum cleaner (a rather expensive, but excellent, multi-purpose one) after our old one broke, so a big chunk of it will go to paying that off. The rest will go to paying off debt, unless my upcoming car inspection sucks the money first.

What about you? Any vacations in your future? Freeing yourselves from the tyranny of the credit card companies? Loading up on Wii purchases? Leave a comment and let me know.

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Outsourcing your life, and the 4 hour work week

Wednesday, March 5th, 2008

Uncommon Lifestyles and the Truth About the 4-Hour Workweek: An Interview with Tim Ferriss ∞ Get Rich Slowly

This article spurred a long night of reading about virtual personal assistants and other ways of “lightening the load” of some of the tasks we all have to do in our lives. I like the concepts. There are some things I can probably do that would help me make the most of my time. In fact, I can think of a couple of tasks I’ve performed in the last 2-3 months that I specifically thought “I really should hire someone to do this so I can get on with my life.” Comparison shopping for my new computer comes to mind. Maybe even some Christmas shopping. I’m also interested in looking more seriously at having someone prepare and deliver a few meals to the house on a semi-regular basis.

In the end, though, most of what I found convinced me that at this point in my life I can’t really justify a personal assistant, virtual or otherwise. It’s not worth the money to me for most of the things I’d be willing to have them do. Now, if I had a side-business that I was running in addition to my job, I’d have plenty of things for an assistant to do for me, and I’d probably easily justify the relatively minimal expenses involved.

For now, I’ll try to reduce the frequency with which I read emails and get better about organizing my day. That should get a little easier once we hire someone to take the tasks I acquired when my former co-worker left the company last year (and the process is finally moving on that!!!!).

[tags]productivity, tim ferriss, vpa[/tags]

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H&R Block – Top 10 Overlooked Credits & Deductions

Friday, February 15th, 2008

H&R Block – Top 10 Overlooked Credits & Deductions

Here’s a good list to keep in mind as we get ready to pony up for Uncle Sam’s benificence.

[tags]US taxes, april 15th, tax credits, tax deductions, tax preparation[/tags]

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