Category Archives: Financial

Investing in Real Estate with Clayton Morris | EP220: How to Think Like a Wealthy Investor

Love all of this!
Investing in Real Estate with Clayton Morris | EP220: How to Think Like a Wealthy Investor

You can find all my shares on my Facebook Page

The Internet Is About to Become Worse Than Television #1aDay

Last week, an obscure but potentially internet-transforming document was leaked from the U.S. Federal Communications Commission. It revealed that government regulators are considering rules that would give big companies a chance to make their online services run faster than smaller ones.

Personally, the thing I like least about it is that it’s easy to see how small/new companies could get screwed and stifle innovation. The other thing that I had not though of until I read this is I trust the cable companies so little that I wouldn’t be surprised if they started “bundling” sites like they do with TV. I don’t need 100 channels! Of course, this is why I don’t have cable TV. Finally, the other thing you should be upset about is the cable companies “double dipping”. They’re already charging insane prices (because usually they have a monopoly in most areas other then major metros), and now they’re also going to start extorting the companies too – what, you didn’t think they’d actually lower your rates when they started charging the companies did you?… Comcrap-Warner wants it’s cake and to eat it too (see the video below – warning: language).

Read the full article here

The Hidden Health Costs of the College Arms Race #1aDay

Every time I hear stories like this it makes me worry for my kids. While I can be a competitive person there’s always been a release valve buried somewhere deep inside that has been able to say “the work will be there tomorrow” or (when I was in school) “Being first in class doesn’t matter. Just learn the material well enough. There’s always time to dig deeper.”

The question is, how to pass that on while still instilling the discipline and joy of hard work and sacrifice?

Read the full article here

If You’re Not Saving, You’re Losing Out #1aDay

We’re supposedly in a new era of financial sobriety. Yet the evidence suggests otherwise.

Personally, I find this article very scary because at some point someone (unfortunately, it will probably be the responsible) will have to help save the irresponsible.

Need to save money? Here’s a few quick ways anyone can do so…

  1. Get rid of your insanely expensive wireless plan and switch to something reasonable
  2. Get rid of cable TV – there are way better things to do than watch the idiot box
  3. Get rid of all the extra toys (kid and grown-up ones)
  4. Get rid of the gas guzzler

Read the full article here

Why a Big Tax Refund Isn’t as Awesome as You Think #1aDay

With tax season behind us, here’s a little PSA to remind you why a big refund isn’t actually all that great even if it may feel that way. I just need to remind myself of this every time I have to write checks to Uncle Sam 🙂

Read the full article here

Make Your Fridge Last (Almost) Forever With These 8 Tips #1aDay

After the furnace, the most important appliance in your home is probably the refrigerator. It’s also one of the most expensive ones. When you spend $1,000 or more on an item, you want it to last for many years.

How many of these tips have you heard?

Read the full article here

Stop Fooling Yourself With These 7 Money Traps #1aDay

What are the 7 traps?

  1. Mental Accounting – Treating some money as more special than other money based on subjective criteria, such as how it will be spent or where it came from.
  2. The “Anchoring” Effect – Estimating the value of something based on irrelevant information (e.g., the “anchor”), such as the price you paid for it, the cost of something else you own, or what someone told you it was worth.
  3. Present Bias – Difficulty postponing immediate returns, or delaying gratification.
  4. Status Quo Bias – Preferring things you know over the things you don’t know, even if other options are superior.
  5. Restraint Bias – Overestimating our ability to resist temptation.
  6. Ownership Effect – Placing a higher value on the things you own, because you own them.
  7. Familiarity Bias – Gravitating toward products and investments that you know over unknown options, which may be better.

While some of them may be pretty similar I’m sure we all have a tendency to fall into one of the traps from time to time. For me, it’s probably “Restraint Bias” – especially once I’ve gotten an idea in my head that I want something. How about you? What’s your biggest trap?

Read the full post here

Five Reasons to Lower Your Thermostat

Here are Five Reasons to Lower Your Thermostat. Who can argue with…

  • Losing weight
  • Extending the life of your fridge (have you seen the prices of fridges?)
  • Better sleep

Find out the details and the other reasons in the article.

Saving $1000 on Auto Insurance

We recently received our auto insurance bill in the mail, and for once I decided to “just see” how much of a difference it could make going with a different company. At over $2k for the year (keep in mind MI is a no-fault state) I was hoping to knock a couple hundred bucks off. I started off as I would imagine anyone would do these days and took right to the internet. First stop… State Farm. After entering the data they wanted I waited eagerly and… more expensive. I almost stopped figuring “everyone is going to be the same”.

Still something pushed me onward even with children who needed things wining in the background. Next up I hit Progressive. This time I got a little encouragement with a quote around $700 every six months. I played around with the numbers and got it down to around $550 every six. We were talking some serious cash now. How could roughly the same benefit cost nearly 1/2 what I was paying??

Figuring it didn’t hurt to keep looking I decided to also give Geico a try. This time I was shocked to get a quote even lower! After looking over the numbers I chose to actually increase some of the limits and still kept it around $550 every 6 months.

In the end I chose Geico because for the same rate as Progressive I got more coverage, and still wound up paying nearly 1/2 what I was with AAA. When calling in to setup the coverage I was told that the primary discount was for an excellent credit rating, so for anyone reading this, make sure you’re paying your bills on time, in-full every month.

For those who want a breakdown of the actual coverage numbers, here they are…

Coverage AAA Progressive Geico
BI Liability $100k/$300k $100k/$300k $300k/$500k
Property Damage Liability (PD) $50k $100k $100k
Limited property Damage Liability “Included” $1k $1k
Property Protection (PP) “Included” $1M $1M
Uninsured Motorist BI $20k/$40k $100k/$300k $300k/$500k
Deductible/car $550 basic $500 comp/$1k collission broad form $500 broad form

The moral of the story? Go check your auto insurance coverage and rates then go comparison shopping. No guarantees you’ll see the savings I did, but it just may save you hundreds if not thousands of dollars a year.