bmwracer wrote:

I have mixed feelings about them. There was a time and day for them, but they're just a profiteering, influence-peddling lobby group now, IMO....

Well they're akin to another special interest group in that regard. They certainly have their place but as with any big-monied interest their vision of things can get in the way with what is practical and realistic.

Well the ridiculous explosion of health care costs in this country has certainly worn down the Big Three and made their operations far less profitable than their foreign counterparts...I'm not advocating for universal coverage, but in Germany and Japan, there is a single payer healthcare system so that huge burden is shifted to the gov't and not private enterprise. Given the amount of employees and retirees on the books for the Detroit Dorks...it's hard to compete with such enormous costs which are constantly ballooning every year.

From a cost benefit perspective, healthcare here is a sad f*cking joke...you pay more and more every year yet in many cases the quality of care goes down further and further.

Tu_triky wrote:

From a cost benefit perspective, healthcare here is a sad f*cking joke...you pay more and more every year yet in many cases the quality of care goes down further and further.

Yup... Seems like every year, there's yet another cost hike... Ridiculous.

Socialized medicine seems to work in England... Why not here?

bmwracer wrote:

Yup... Seems like every year, there's yet another cost hike... Ridiculous. Socialized medicine seems to work in England... Why not here?

It's obviously a complex issue...some reform to get costs under control would be great, even if it is short of a single-payer system...which I frankly don't think is going to happen in light of the money pit that the government is in now ~ getting deeper and deeper as this recession wears on.

I think just making coverage affordable would be an enormous victory.

Well as far as money & investment is concerned...I don't think we'll see what's really going to happen until at least around Feb. After all the mutual funds do their spring cleaning, fire all the lame ass fund managers, readjust their portforlios, and the new adminstration takes office and begins to pass legislation on their bailout package.

In this economy now, I think it's just best to sell drugs in terms of making money and investments. That's just me because Real Estate hasn't been too nice to me.

ahochaude wrote:

That's just me because Real Estate hasn't been too nice to me.

That'll turn around once the banks get their act together... Forcing the mortgage rates down to 4.5% is a step in the right direction.

ahochaude wrote:

In this economy now, I think it's just best to sell drugs in terms of making money and investments. That's just me because Real Estate hasn't been too nice to me.

Take yourself to that local izakaya and invest that money in beer.

Tu_triky wrote:

Take yourself to that local izakaya and invest that money in beer.

Screw the beer... Nigorizake all the way...!

bmwracer wrote:

Screw the beer... Nigorizake all the way...!

At least you know you'll get some sort of return on that investment.

Tu_triky wrote:

At least you know you'll get some sort of return on that investment.

for Beem that would mean real estate. the parking lot space next to his car.

Tu_triky wrote:

Take yourself to that local izakaya and invest that money in beer.

I plan on doing so! haha
Not like I haven't spent some of my regular payroll on a night or two going out.
Should I receive supplemential income, beer drinking/celebrating is the first thing that's on the list, homie!

ahochaude wrote:

I plan on doing so! haha Not like I haven't spent some of my regular payroll on a night or two going out. Should I receive supplemential income, beer drinking/celebrating is the first thing that's on the list, homie!

In this day and age, we all need to blow off a little steam every once in awhile to maintain sanity.

Speaking of money, the MegaMillions is at $207M.

bmwracer wrote:

Speaking of money, the MegaMillions is at $207M.

I could use some those shekels.

Resolved: This Year, I'll Keep More Cash

by Stacy Rapacon
Thursday, January 1, 2009
provided byKiplinger'sPersonalFinance

Given the recent turmoil in the financial markets and the prospect of a continuing economic downturn, 2009 may be the year you finally make good on your resolve to start an emergency fund, pay off credit-card debt or beef up your retirement kitty. Our guidelines on cutting your expenses and saving on taxes are guaranteed to put money in your pocket -- and your savings accounts.

1. Get your spending under control by using a free online budgeting Web site, such as Mint.com. This secure site tracks your checking, credit-card and investment accounts and offers money-saving tips, such as where you can cut costs or get a better rate on your credit card. Other free sites, including Wesabe and Geezeo, offer similar budgeting tools, but focus more on their online communities where users share strategies.

With the meat and potatoes of your finances laid out, it will be easier to see where you can trim the fat. For example, assuming that you and your significant other pay the average $33 per person for a restaurant meal (according to a recent Zagat survey) and $7 per ticket for a movie, one fewer date night a month will save you a total of $960 per year.

2. Set up a flexible spending account to help pay for medical expenses. If your employer offers this benefit, you can stash pretax dollars in the account and use the money to pay for out-of-pocket bills, including physician co-payments, prescription drugs, eyeglasses and braces for the kids' teeth. You can even spend the money on over-the-counter medications, such as antacids and pain relievers.

A flex account can save you hundreds of dollars in federal, Social Security and, in most states, state income taxes. For example, if you're in the 25% tax bracket and you put $1,450 in your account -- the average contribution for 2007 -- you'd save $546 for the year, assuming a 5% state income tax and 7.65% for the FICA tax. Plus, you can tap the entire amount at any time, even if you've contributed for only a couple of months.

Under the use-it-or-lose-it rule, you could forfeit any money left in the account at the end of 2009. But many companies now offer a grace period until March 15 of the following year. In fact, if you have money left over from 2008, treat it as a bonus to help pay for a major expenditure in early 2009.

3. File a new Form W-4. If you got a tax refund for 2008, adjusting your withholding will fatten your paycheck for 2009. With an average refund of about $2,400, you could be entitled to three extra exemptions. In the 25% tax bracket, that could boost your take-home pay by $2,625 per year.

4. Raise your insurance deductibles. Increasing the deductible on your car insurance from $250 to $1,000 can save up to 15% on your premiums -- or about $125 per year on an average premium of $829. Upping the deductible on your homeowners policy can slice your rate by about 25%, or $191 on an average premium of $764.

5. Cut the cost of credit. If you tend to carry a monthly credit-card balance, go with a low-interest-rate card, such as Wells Fargo's Prime Rate card, with a 5% interest rate and $19 annual fee. For gasoline or travel perks, try the BP Visa card or >Simmons First Visa Platinum Travel Rewards card.

If you'd rather pocket a cash rebate, consider the American Express Blue Cash card. You'll get a 1% rebate for gas, groceries and drugstore purchases, and you'll get 0.5% back on everything else. Big spenders can bump up those rewards to 5% and 1.5%, respectively, after dropping $6,500 for the year. Charging $15,000 worth of everyday purchases would save you $490.

6. Open an online savings account, such as the one at www.fnbodirect.com, which was recently paying 3.25%, or about $100 a year on a $3,000 deposit. You can open the account with just $1, and there are no monthly fees or minimum-balance requirements. To avoid the temptation to spend all the money that's now lining your pockets thanks to our first five tips, set up an automatic monthly transfer from your checking account or arrange to have part of your paycheck deposited directly into your new rainy-day fund.

7. Bump up your 401(k) contributions. Already have an emergency stash? With stocks on sale, now is a great time to build -- or rebuild -- your retirement kitty. For 2009, the contribution limit for 401(k) accounts rises to $16,500, and you can add another $5,500 if you'll be 50 or older by the end of the year. Contributions aren't subject to federal or state taxes, so loading up on the full $16,500 would save you $4,950 in taxes for the year, assuming a 25% federal tax bracket and a 5% state income tax.

Can't afford the maximum contribution or want to use part of your savings for something else? Try to kick in at least enough to capture any employer match.

8 Ways to Boost Your Income
You've cut your spending and you're still coming up short. Try these tips to bring in more cash.

By Erin Burt

December 18, 2008

With credit drying up and the economy taking a dive, more Americans are leaning on their savings to make ends meet -- even after slashing their spending -- according to a survey by Country Financial. And the group that is relying the most heavily on its savings is young adults, with 58% of us tapping our reserves.

This news is disconcerting because, let's face it, most Americans -- especially those of us just starting out -- don't have much savings in the first place. And tapping accounts such as 401(k)s and IRAs can have expensive consequences, from early-withdrawal penalties to diminished compounding returns (see Don't Borrow Trouble).

So what's a cash-strapped person to do? First, if you haven't yet looked at ways to cut your spending, check out our bevy of ideas in Save Money on Practically Everything. Then, if you're still coming up short, before you raid your safety net of savings, consider adding to your income with these eight ideas:

1. Sell your junk. One man's trash is another man's treasure. And the Web makes it a cinch to hold a virtual garage sale. For instance, my husband made a few hundred bucks by selling his old textbooks on Amazon. Craigslist and eBay are other great sources for hawking your wares online, from old furniture and fitness equipment to collectibles and clothing. (See The Art of the E-Deal and Sell With Success to learn more.) And with gold prices hovering near record highs, you could even sell your old jewelry.

You can also find buyers for your old tech gear to reuse or recycle. For instance, CellforCash.com pays up to $100 for used cell phones, depending on the model. And Hewlett-Packard offers a trade-in program that lets you swap your old computer and other tech gear for money -- even if they're not made by HP. Before selling a computer or another gadget with sensitive personal information on it, wipe the memory clean. See What to Do With Your High-Tech Has-Beens for more info.

2. Get a job. This may mean getting a second job, or it may mean getting a first job to hold you over until the job market recovers and you can land your dream position.

Retail, restaurant and customer-service jobs are prime targets. You can also search for part-time or short-term gigs on Craigslist for a smaller income boost. For instance, we found odd jobs such as stuffing envelopes for two days and helping out part-time at a kennel during the holidays. And if you're unemployed because you're waiting for the right opportunity, you can bide your time and still bring home a paycheck with a full- or part-time "stepping stone" job with an employer that offers good benefits, such as Starbucks, Wegmans or UPS.

3. Sell your skills. You may have a skill that someone else is willing to pay for. For instance, can you teach music, art or sewing? How about arranging a regular dog-walking or babysitting gig with a neighbor or family member? If you're academically minded, you could tutor students. You could also tutor if you know another language, or you could find a flexible translator position. Ask yourself what you do well and get creative.

4. Rethink your rent. If you're living alone, getting a roommate could boost your income (and cut your rent payment). Or clean out your family's guest room and take in a border. You might consider renting out other spaces, too, such as your garage for storage or your parking space for commuters, if you live close to public transportation.

Another option to consider is apartment management. In exchange for maintaining an apartment building and dealing with residents, you could get discounted or free rent. You can usually find apartment-management opportunities among job listings.

5. Claim unclaimed assets. States are sitting on billions of dollars in unclaimed assets, including lost bank accounts, misplaced bonds and securities, uncashed dividend checks, uncollected utility deposits, and unclaimed life-insurance benefits, according to the National Association of Property Administrators. Check the free site MissingMoney.com to see if any of the money belongs to you.

To cast a wider net, go to Unclaimedassets.com to learn where to look for billions of dollars' worth of unclaimed assets held by the federal government, including uncashed Social Security checks, unclaimed tax refunds and lost pensions (see Found Money for more info).

6. Adjust your tax withholding. If you received a tax refund last year and your financial situation hasn't changed much, too much tax is being withheld from your paycheck. Try our easy-to-use calculator to figure the correct number of allowances you can claim to boost your take-home pay. All you need to do is file a new Form W-4 with your employer. You may also want to readjust your withholding allowances if you got married, had a child or bought a home this year.

7. Get paid for stuff you do anyway. You have to buy things -- groceries, gas, medicine and the like -- so why not buy them with your rebate credit card to get cash back in your pocket? (Shop for the best reward card.) Just make sure you pay off your balance each month so you don't accrue interest charges.

You should also make sure you're getting as much out of your savings as you can. Don't park your cash in a traditional bank account earning pennies in interest. Instead, go with a high-yield online bank account. Most are paying in the 3% range nowadays.

Plus, if you travel often for work, consider using your own credit card to purchase flights and submitting the expenses for reimbursement (if your employer can pay you back within 30 days so you won't have to pay interest). That way you can get more credit-card rebate points on top of free frequent-flier miles for your own use.

8. Hit up Mom and Dad. Moving back home (if your parents are willing to take you in) for a short period of time is another way to put more money in your pocket to get through a tight spot. But what about asking Mom and Dad or a close friend to spot you some cash outright?

You can boost your odds of getting the assistance you seek if you approach it like a business transaction. When you ask for the money, the next thing out of your mouth should be, "and here's how I'm going to pay it back." You could even offer to pay interest and set it up as a publicly administered loan though CircleLending.com.

It also helps if this pitch is a rare instance -- say, to get you through a job loss, divorce, health crisis or other short-term money crunch. If you're constantly hitting up friends and family for money, you need to address the underlying cash-flow problem and fix it, or you may find yourself broke and friendless.

If your friends or family say no, respect their decision. Lending money may simply be outside their comfort level. It doesn't mean they love you any less; it may just mean they don't want to risk straining your relationship.

This is interesting, if you have no qualms about online banking...

http://www.moneyaisle.com/
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runpup wrote:

This is interesting, if you have no qualms about online banking... http://www.moneyaisle.com/

Hmm.

Seems sorta risky, particularly in these times...

bmwracer wrote:

Hmm. Seems sorta risky, particularly in these times...

Well, all the banks are FDIC..,and Treasury has claimed they'll print enough $ to keep any bank alive..
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The Cutest Girl in the World!

What software do you use to track your expenses, budget, investments, taxes, etc.?

MS Money, Quicken, Peachtree...even Excel?
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runpup wrote:

What software do you use to track your expenses, budget, investments, taxes, etc.? MS Money, Quicken, Peachtree...even Excel?

Been using the same version of MS Money going back to Office 97.