Jul 1, 2009

My Monetary Snapshot - June '09

Let's Be Curious is more than two months old today :)

Here's what it looks like at the end of this month:

Emergency Funds (High Interest Savings): $5578
Checking Accounts (Non-Interest Earning): $917
401K: $608
CD: $2000
Interest + Other Earnings: $97.66
(amazed how come it's $97 ;) all added up by paid surveys and free money)

Car Loan Balance: $13,512
Credit Card Balance: $71

June 2009: Total Assets: $9103 Total Debt: $13,583
May 2009: Total Assets: $8321 Total Debt: $14,522
April 2009: Total Assets: $6065 Total Debt: $15,163

Jun 30, 2009

Extra Paycheck Month - July '09

There are 52 weeks in a regular year and 4 weeks in a month. Ohhhh did I miss something, because 4 weeks a month makes it 48 weeks a year? No people, I am correct here! So where are the (52-48=) 4 weeks?

When we talk of "4 weeks a month", we are actually talking about the "complete weeks". In the months having 30 or 31 days, the number of weeks are a little more above 4. The extra days constituting these extra little weeks make up the 4 missing weeks through an year I mentioned above.

If you are lucky enough and are paid weekly, one of the extra day in the month may be your paycheck day. For me it's Wednesday and thus July '09 brings in 5 paychecks for me instead of 4 :)

Whether you budget or not, almost all of us are used to manage our monthly expenses with 4 paychecks a month and thus this extra paycheck you get in July '09 can be used to fulfill one of your long awaited goals.

What can you do with your extra paycheck:
  • deposit it towards your loan or mortgage
  • start/strengthen your emergency funds
  • stash your high yielding savings or checking account
  • create a CD account
  • invest it in
  • go for your favorite authentic cuisine restaurant
  • plan a short weekend outing
  • get yourself something that you were long waiting to buy
  • secure your annual subscriptions (my annual Netflix subscription is $120, my annual HSBC CreditKeeper bill is $84)
I am planning to put my one whole paycheck towards my car loan this month.

What are your plans?
Where else do you think can one spend an extra paycheck wisely? Please leave comment.

Jun 29, 2009

Tips For Saving On Traffic Fines: Handling Traffic Stops

With the Independence Long Weekend around the corner, I thought of writing something about road-trips. I just love them!


Recently I went to Wilmington, DE on my first longest road-trip since I bought my car. Though it was (only?) 5 hours drive but driving alone all-the-way down and coming back isn't that exciting! (driving pleasures apart) It was a Saturday morning when I started, drove through New York, Pennsylvania and Delaware; while the surroundings change there were few common things throughout: us behind the wheels trying to stick to our plans and those watching us doing so safely. Yeah, those here refer to the state patrol troops, rangers and police officers. While they do their duty penalizing if we disobey, we still have chances to save on those fines.


On my way to Delaware I saw some cars pulled over and may be most of them got fined for violating traffic laws, that left me pondering over the topic and inspired me to share this on Let's Be Curious. This is what the article is about: tips on how to tackle a traffic stop and avoid getting a fine.
  • Yearly Speeding Tickets by State

Governor's Highway Safety Association (GHSA) is a non-profit organization which administers several programs to enforce safe driving habits on interstates. GHSA conducts and publishes relevant surveys from time to time under title 'Survey Of The States'. Most recent and relevant one I found was published in 2005 based on three years data on 'speeding' habits.

I was amazed by the numbers when I grazed over the report. Let me tabulate some of the eye-catchers:

State
Average Speeding Citations Over Past Few years
California 957,758
Texas 553,912
Illinois 441,303
Dist. Of Columbia 385,618
Massachusetts 363,688
North Carolina 360,000
Maryland 358,729
South Carolina 280,142
Pennsylvania 224,258

Note: Although GHSA operates in all states but data for some of them was not available, including New York!

This table itself is enough to give an idea about how much revenue these citations might be generating for the states, worth driving and behaving careful while at the wheels fellas, read on ...
  • The Golden Rule - Keep Watching For Signs On Road
No sign will ever say "there's a cop ahead", but they do tell us what cops don't want us to do. It's really simple and I shouldn't be telling you if you have a valid driving license: keep scanning the road signs while you are driving and follow them, because,

- it is safe
- it is recommended
- it gives you sufficient time to adjust to changing traffic conditions
  • Dealing With A Traffic Ticket
Let's get down to business. So you see flashing lights in your rear mirror and (to make it worse) hear sirens calling you from continuing your journey, what to do next? How to talk to the officer? What to say? (More importantly) What NOT to say?
    1. Stop Immediately, Safely and Properly
The officer behind you is there because you (potentially) had violated a law, start acting responsibly asap. Keep the following things in mind while pulling over:

a) Pull-off to a safe position on right, if there is shoulder then stop on the
shoulder

b) Turn-off engine
c) Keep your driver license and vehicle registration ready
d) Roll down driver side window, if not already
e) Keep both your hands on steering
f) Think what is the speed limit of this zone. If you don't remember use your
experience and judgement to come-up with something logical and safe.

Traffic stops are supposed to be very dangerous tasks in a Police Officer's day-to-day activities and thus they are extra cautious when approaching the stopped vehicle. Any kind of movement in the vehicle by driver OR any of passengers is seen as highly suspicious, don't just do it. If you are in between any of the above steps when officer approaches, just stop whatever you are doing. Stay calm and wait for the officer's arrival at your window.
    1. Be Quiet, Let Officer Say The First Words - The 2 Important Questions
Remember, any thing you say can be used against you in court so don't talk in the hurly-burly, be calm and let the officer begin the conversation. Almost all the traffic stops follow two questions to the driver:

a) Do you know why you are stopped?
b) Do you know at what speed you were going?

Every traffic ticket can be challenged in court and this is officer's attempt to make you admit something which will wipe out all your chances to do so. Take your time to collect yourself and answer when you are ready. Below are the best of the responses to above questions:

a) Do you know why you are stopped? Answer: No officer.
b) Do you know at what speed you were going? Answer: Use the limit you
recollected/calculated as told in the previous section.

Never even try to admit what went wrong on your part, there are high chances that you might say something which the officer had not yet noticed. Never say you don't know what speed you were going at, you are responsible for maintaining your speed within safe limits and that's what the speed limit signs are meant for.

Based on my experience with speed limits in New York state, here are few limits I always remember:

a) Interstates - 65 mph
b) State Highways - 55 mph
c) When entering a city/town/village - 45 mph
d) City/Village/Town - 30-35 mph
e) Watch out for reduced speeds for road works
  1. Be Polite And Respect Their Job
The officer who stopped you might be starving, experiencing extreme weather conditions and what not, just to make the roads safer for everybody. Being rude, arrogant, insulting or authoritative is the easiest way to invite a traffic ticket. Officers, many a times, stay neutral about citations until they talk to the driver. You may want to consider this situation, it is very likely that an officer may just let you go with a warning word. Moreover an officer's testimony to your arrogant behavior may result in the judge to sentence increased fines in court. Respect officers, they are doing their jobs to make our road trips and journeys enjoyable and safe.
  1. If You Get A Ticket, Plead Not-Guilty ASAP
If above steps didn't work and you got home with a ticket then immediately plead not-guilty and return the ticket to the court at the earliest possible. It's always suggested to accompany your plea with a letter to District Attorney (DA) explaining:

a) Who are you

b) You realize the severity of getting points on your driving record
c) Your have an impeccable record so far
d) Request to dismiss a ticket or at least reduce the fine and/or points

Many a times it is also suggested to try to postpone the appearance date in court in a hope for the officer who issued you the ticket would not show and ticket will be dismissed, I am not sure how much this trick may help, let me know if you have had any such experience.
  1. Consult Any Free Services Available
Look around and find out if there are any free suggestions available to you. Talk to friends, tweet your questions, ask for experiences, what-to's and what-not-to's. Communicate on Orkut, Facebook, MySpace, etc ........... Most universities usually have a free law consulting department for students, find that out if you are a student. Many traffic lawyers give limited suggestions without charging any fee.
  1. Be Ready To Accept Any Deal Offered In Court
Appear on time at court on the given date. Carry all required documents. Upon reaching, look for the DA or the officer who cited you. It happens both ways: the officer (or DA) fights to have you pay the fine to the state treasury while you try to eliminate any fine or at least minimize it. In an attempt to make this happen in a mutually beneficial way, the authorities typically make you an offer. The offers may vary among a wide number of options but mainly to:

a) reduce the fine
b) reduce the points on your record
c) reduce both
d) reduce severity/charges of the ticket

Usually accepting these offers results in reduced fines, at least; only thing they need you to do is accept the reduced charges. There have been many instances when people rejected the offers and contended to prove their case, resulting in a win and dismissal of all citations. However, to make sure winning a case in a traffic court needs rigorous planning and adequate evidences, if you are confident you have those, it's worth giving it a try.
  • Try To Avoid A Ticket In Future
Start taking lessons from life right away, do your best to avoid getting into the traffic ticket traps again. Always follow traffic rules, never violate a law, drive safe and make proper decisions. If you had got a traffic ticket and managed to get out of it or got your fines reduced, please leave your story and any tips for readers.

Jun 25, 2009

Free: Nescafe Taster's Choice Samples, 6 Flavors

Love coffee? Get this!

Nescafe is sending out stick pack samples of 6 Taster's Choice Flavors absolutely free. All you have to do is click here to register on the website and fill-in your name and mailing details. Only conditions are:
  • 1 sample per person
  • 2 sample per household
OK we can be that content, can't we?

Nescafe believes it will "make a believer out of you", let's se how much weight their claim holds. Leave me a comment below if you find your free samples enjoying!

By the way, Let's Be Curious completes 2 months today! :) :) :)

Jun 22, 2009

Quicken Reveals - II: Harms Of Misjudging Grocery Needs

According to my Quicken analysis, Groceries make up 4% of my total expenses. Yeah this is one of the advantages to single-never-married individuals. I believe groceries eat up a huge share of family's total income every week or every month.
  • Some Grocery Shopping Facts
Let me share some of the things I know about grocery shopping. I am certain there are a bevy of experienced people than me so feel free to leave me comments if I am missing any. Whenever I am planning to visit my grocery store I make sure that:
  1. I check my shelves and refrigerator to notice any items I am missing
  2. I check my shelves and refrigerator to see any items that may exhaust over coming week
  3. I make a list of grocery items I need to buy and try not to deviate from my list
  4. I stack-up any coupons I may have
  5. I shop as earliest in a day as possible, I get freshly stocked stuff doing so
  6. I don't rush through the store, it disables my ability to make free and wise decisions
  7. I am not hungry
  • Numbers Say So ...
My monthly gorceries totalled $263 in January 2009. It didn't shock me then but I was stunned when I was going over my Quicken account. While today I know that many families of 4 or 5 manage to survive in $150, I was totally unaware of the facts then. The number stroked $147 in February 2009 and again rose to $245 in March. I hope you see what the problem was here, let me reiterate, these are the grocery expenses of a single person.
  • When I realized The Problem
I was talking to a friends and we were discussing our monthly grocery bills. He was appalled on hearing my bills as he could manage the same within $40 living with three other roommates.

It was then when I realized what was probably going wrong. It struck me that most of the stuff I was buying in a week wasn't being completely consumed by 3 or 4 weeks after that and this wasn't holding me back from restocking week after week.
  • What Did I Do For It?
I strictly followed the 7 ways I mentioned above. Having a look in the fridge and store before leaving for shopping helps a big deal. Another important thing to realize for me was my journey from on-campus job to a full-time job. I was spending more since I started earning more, but then I gave some serious thought to start saving money for future and buy (mostly) based on need than want.
  • Result
Yes this was enough! I spent only $72 in groceries in April 2009 that is whopping 70% drop in my bill followed by May when I spent $78. April gave me a good inspiration and encouragement continuing to ponder over money matters and spending wisely.

If you take a look at my Quicken Grocery Trend above, you can appreciate the difference between the first three months and last three months. Yes, 70% drop it is ;)

Have you ever struggled to bring down your groceries bills? What techniques you use to keep hold of your grocery bills? Please leave me a comment!

Jun 18, 2009

McAfee Virus Scan Plus 2009: Free After Main-In Rebate From Amazon

You must be accessing your bank records and other important details daily from your computer, then why take chances? If already don't have any latest security software then here's the deal. Amazon is selling McAfee's Virus Scan Plus 2009 for $50. After filling-in the $50 mail-in rebate form the brand anti-virus and anti-spyware with firewall and website safety ratings is all yours for absolutely free.

Just click here to buy the software and download the rebate form to fill.

Keep in mind:
  • purchase must be made before June 30th, 2009
  • one rebate per household
  • rebate forms to be post marked by July 30th, 2009

Let me know your experience with your new security software!

Jun 16, 2009

Update: "No Eat-Out Month" Experiment

So how am I doing? Almost half of June has gone since I started my No Eat-Out Month Experiment, I thought why not share my eat-out details with you.

When it comes to food I can't be as honest as otherwise, I know but that's .... my weakness! So let's see where have I spent in the last 15 days:

* Coffee: $17.79
* Panera Bread: $7.89

------------------------
Total: $25.68

I anticipated on the very on-set of this seemingly experimental activity of mine, that it is impossible for me to spend nothing on eating out but yeah the above figures, kind of, look like going in the direction of success ;) I spent $124 on food in May '09 which prompted me to sort to this activity and now the total is way too low, yup it is working fellas ....

However, $17.79 for only coffee is bad enough, I agree, but this time it wasn't me alone. I got pleasant company of my brother-in-law who is visiting the US on his business trip of a month or so. We spent this past weekend together roaming around in the suburbs of Wilmington, DE. Fortunately and unfortunately, I could only spend on coffee. Well in the end we had wonderful and eventful time!

I will post again when this experiment concludes on July 1, 2009 with actual figures of my eat-out spendings and how was this experience for me to go through. Till then, let's hope I don't spend a big chunk there ;)

How practical do you think these experiments are? Have you undergone any such by yourself? If so, how was it? Did you achieve what you aimed for? Leave a comment!

Jun 15, 2009

Journey From On-Campus Job to Full-Time Job


As we drive through our lives we take some valuable turns that remain scored onto the milestones of our living avenues. Getting into graduate school, going through the rigorous program and now getting accustomed to full-time job routine was one such turn for me. Being a student has taught me million things and so will the employee life but this transition left me pondering over few clouds of monetary inclinations that change over time and the way they change.

I had been little nostalgic about my college days lately. Those days of academic struggle, the times of temporary hardships, the laborious work hours to earn meager but seemingly ample wages, the fast ticking of my clock, those anticipated-ly productive but worthless night-outs before exams, ... and list goes on and on and on. Suddenly all golden memories have come to life today on my mind's screen.

Forgive me if this read like an article about my college time memories but it isn't. I mentioned those recollections because our college guy also has similar reminiscence. Oh, the college guy, I went to college with him, my friend. I can't believe I started working full-time 6 months ago but this person was always there with me. So let me share some of his traits with you today.
  • Survival of a student
If you are not counted among the few elites on campus, your life might not be just as comfortable. Our college guy came to school with the burden of a huge educational loan and was really committed to putting all he could into studies. He roofed himself in a cheap apartment and worked hard the maximum allowable hours on-campus aiming to earn as much as possible while attempting to ace his courses. Life could be managed with lower hours but he couldn't leave the desire to earn extra.

A saver indeed, bought only what he needs, saved whatever he could, stashed it in his bank account with negligible interest. Had $1 cheese pizza slices for lunch to save on food, saved $1 bus fares by not going to malls on weekends.

What a saver, wasn't he? Yes that's past tense there, because our college guy eventually graduated and found a full-time job for himself. But then what? Continue reading ...
  • Living the life
My friend is not going to take any criticism after living that frugal and savvy life he lived as I depicted above, it is the time and he has big cash-flow running in to his pocket. He is ought to live the life king-size. Isn't he?

A luxury apartment was indeed a dream. Hours are fixed so no worries of working more. But the views are drastically changed now. He doesn't take lunch to work rather eats out daily. Buys what he wants, keeps absolutely no account for his balances. Bought himself a nice ride, goes to mall quite frequently. Planning to marry soon, but planning to save then.

He is in his twenties, can still be some of a saver he was in college and this time his savings habits would damn going to be a boon. But no, he has started to feel light, seemingly on that heavy paycheck he is enjoying the sight of all those monetary restrictions of yore down below the height of his flight. But in this flight to nowhere, he probably forgot about his burden of educational loan and much more ...
  • Who is College Guy?
Let me stop here folks. My college guy is nobody else but one of us. This is a story of thousands like me and may be you yourself. I am not a proponent of being an ultimate saver and living a pathetically frugal life. Rather I believe in wanting to achieve what I need and what I enjoy in comparison to feeling royal at present and taste the lacking next moment. College guy was supposed to put his hard earned wealth of knowledge and experience to work here, he could be much more self-content in the practicality of this real world than living the disgruntled life he is about to see.
  • So what's the conclusion?
I have seen many friends making this transition and completely changing their lifestyles ignorant of their imminent repent. We seem to learn the lesson the hard way but the time has started to give way now, if it can't be earlier it is going to be another bad day really soon in future.
I could ascertain two reasons to this whole social pattern of progress culminated ignorance:
  1. while being students we always dream of the life after graduation. School life is full of short turns but life after that is not going to be one. Instead of anticipating what's around the corner down the lane, students ought to plan to witness any surprises. Those 2-4 years could be easily managed without any pondering but life after graduation takes a lot of planning. The real challenge starts then and will be on till the end.
  2. money saved is money earned, a long proved modus operandi. While all visit the "money earned" part, many ignore the "money saved" part.
There are numerous Personal Finance blogs today talking about budgeting, saving and frugality. It's not just about students but we all have, during some part of our lives, not just learned these tricks but even applied those skills to our daily lives. We tend to, however, forget to take these practices forward with us. It is human tendency to follow what we couldn't do but quite often we forget to continue what we know how to do. Once we start earning more, we tend to feel the freedom of our mind from the shackles of monetary fears. While we start to spend in all ways we wished, we forget that we also saved, budgeted and lived a frugal life then.

Being today's GenY, current graduates represent tomorrow's future. I am far away from politics and don't know a word about GenY's contribution in future economy. But I know that GenY makes-up a gigantic portion of society and thus influence greatly the monetary practices of the world. Being part of today's turmoil demands the youth to garner all they have experienced and all they are witnessing now, and strike the future with such a vigor that time doesn't see such a fiscal despair again.

I'm in a Blog Carnival
: This post was among the ones exhibited in Carnival of Money Stories at The Consumer Boomer. I am excited about your presence on my blog today and would be glad to know about your thoughts on this post and my blog, hope to see you around :) Consider subscribing to my feed or updates by e-mail.

Jun 9, 2009

Welcome BargainBabe Readers

A warm Welcome to Bargain Babe's readers at Let's Be Curious!

I feel admired by your pleasant presence on my blog and wish to create a continued relationship with you as a reader of Let's Be Curious. Consider subscribing to my RSS Feed.

Feel free to browse through my posts, however, to save your time here are the best of Let's Be Curious:
Hope you enjoyed reading my article at BargainBabe.com and found it interesting that how pondering about non-monetary factors may result in reaping smarter value of your money. I'd love to know about your experiences and comments about my articles and my blog.

Hope to see you around! :)

Jun 5, 2009

Quicken Reveals - I: "No Eat-Out Month" Experiment

I was looking at my Quicken view of spendings and was amazed at my eat-out habits. Above is the screenshot of how my expenses looked like in the last six months of 2009. I am single and a BIG foodie but still I consider above figures as holes in my pocket!

Analysis
I spent $124 on eat-outs in May 09 making up 10% of my spendings. If sweet little February 09 is ignored then almost every month I am spending $109 on the average. Hey and just look at the goals I set, the red line in the graph marked as 'Budget', it's always way below the actual expenditure. My goal was $50 in May and I spent $124, 2.48 times more!

I Was Aware
I have been thinking that I am trying hard to get hold of my eat-out bills but Quicken reveals I am not, actually. I cook daily, take lunch-box to work and avoid eating outs as far as possible, but then one fine day comes and I meet with my good old friends and those meetings make it all possible.

What I'm Gonna Do
I have read people observe no-spend-day and believe me I literally spend only 2-3 days a week. I also agree with Ramit Sethi that one should take gradual steps towards their goals and this implies cutting down my eat-out bills gradually but this ain't gonna work for me. Whatever I decide, I will always spend more on food so why not set my spending limit to the least!

So this is what I am gonna do: I am pledging to eat nothing out this month. Already 5 days are gone and fortunately I haven't spend a buck on food out of home.

Will It Work
I am certain that my eat-out bills can absolutely not be $0 but yeah if I attempt to achieve that, it will be certainly less than $124 this time.

Is It Worth It
I am not expecting a jackpot, nor I will save a million doing this but I believe in spending on what I need and when it's needed. And that makes, at least a part of, the definition of 'Frugality'. Let's see how well can I keep upto my promise and how much can I save.


Do you notice any such 'holes' in your pocket? What's the reason? Are you doing anything about it? Do you have any suggestions for me? Comment please :)