Archive for the 'Weekly Review' Category

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Below Your Means Favorites of the Week (Grease Fire Edition) – June 17

While the world of personal finance is interesting, I think what is going on in Greece and the rest of the Eurozone will have a far bigger impact on everyday American’s lives than they may realize.  This weekend, along with Monday and Tuesday are going to be extremely telling for how bad things could get and how quickly.  It will also tell us if the powers that be are able to “kick the can” a little further.  Please note, of all events going on in Greece right now… NONE of this is about fixing anything or evening attempting to fix things.  It is only about delaying the inevitable, which is a Greece default.

With so many great posts in the world of Personal Financial Blogs, it is hard to keep up with them all. Here are a few of our favorites from the week:

Personal Finance / Etc.

Economics / Investing

Other

  • Congrats go out to the Bucksome Boomer on their 500th post.
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Below Your Means Favorites of the Week

With so many great posts in the world of Personal Financial Blogs, it is hard to keep up with them all.  Here are a few of our favorites from the week:

Personal Finance / Etc.

Economics / Investing

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Weekly Review – 5/1 to 5/7

There is a lot going on in the world today, after reading 100′s of blog posts across the personal financial blog-o-sphere; here is what we found interesting this week:

Living Richly – Spending money where it matters, enjoying living below your means

Frugal Tips – Spending less on what doesn’t matter, great deals and more

  • ATM Fee News – Chase decided this week to end their trial run of a $5 ATM fee (instead of the usual $3).  $3 or so is still too much in our opinion, for what is a very high profit aspect of banking.  In short, if you are paying ATM fees you are probably doing it wrong and should look for a credit union or bank that doesn’t charge them or even reimburses you for other banks fees.  Over to Bankaholics for more.
  • Be careful with extreme couponing – While taking advantage of good deals when you find them and buying some things now that you expect to be more expensive in the future is prudent, going nuts is… well just nuts.  Money Fest has more.
  • Insurance that is a complete waste – Fivecentnickle also has a good article with 4 types of insurance that are total waste of money.  We would like to add to the list: Rental Car Company provided insurance and most “extended warranties” which are really nothing more than expensive insurance plans.
  • What to save up to $200 a year? Consider washing all your laundry in Warm-Cold or Cold-Cold cycles.  Check out the Laundry Cost Calculator.

Economics / Investing – What’s coming next

  • Silver had a very exciting week – Silver dropped from $48 to a low of $33 but finished the week at $35.80.  This still is a massive $12 or a 25% drop in a week and goes to show you how dangerous it is to chase parabolic blow-off charts.  Silver is now at an interest price point, resting right around the “consolidation area” of Feb. and March 2011.  Time will tell what happens next.

    In other silver news, apparently China was buying on this dip this week and Mexico was buying gold.  It is also important to note that this silver bubble popping was most certainly helped by the various powers that be.  For example, the Comex raised silver future contract margin requirements an unprecedented 5 times this week.

  • Gold held its own this week – While silver got taken out to the woodshed, gold did OK considering.  Gold fell from $1576 to close the week out at $1496.  This is a large $80 move, but only represents a 5% downward move.  Gold bounced off a very important trend line that started on 7/28/2011, if it falls back below $1475 or so, things could get interesting.
  • Dollar had a small rally this week – The USD dollar index was up 3% on the week, which is a big move in the currency markets.  Unfortunately, this brings it up against some technical resistance of a downward trend line started in early January 2011.

  • Apple a $1000 stock and a $1 Trillion Dollar company? – Ugh.  Personally, we wouldn’t be totally shocked to see Apple trade at $600 in a few years.  It won’t however be the result of awesome earnings growth, instead it will result from inflation and the value of the US dollar being reduced by 30 to 50%.

  • Food Prices keep rising -  The UN reported this week that the price of food has hit its second highest level ever.  Bad things happen when people are hungry and can legally pay for what they need to live.

Other stuff…

  • Legal online music gets a little bit cheaper -Amazon this week announced that they would start charging only $0.69 for a bunch of songs, including new popular releases.  This is exactly what the recording industry needs to do in order to fight piracy.  Life Hacker has more.
  • Diesel Car of the Year – BMW 335d a car we discussed here and here just won “Diesel Car of the Year” by The Diesel Driver.
  • Tech / Life Balance – Why this guy returned his iPad. The article is from June of last year, but we came across it recently and think it is pretty interesting.
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Weekly Review – 4/24 to 4/30

There is a lot going on in the world today, after reading 100′s of blog posts across the personal financial blog-o-sphere; here is what we found interesting this week:

Living Richly – Spending money where it matters, enjoying living below your means

Frugal Tips – Saving money, great deals and more

  • Paying ATM fees is for suckers – If you pay $5 in fees to take out $100 you are being “taxed” 5% by the bank.  That is probably 10X the return you earn on the money in your savings account.  Get Rich Slowly has an article on Five Ways to Outwit the ATM.Here are our quick tips:
    • Use an ATM by your bank to avoid fees
    • Get a bank that reimburses you for other bank ATM fees
    • If you must pay a fee, take out as much as is reasonable.  $5 on $100 is 5%, but $5 on $500 is only 1% – you just cut your “tax” by 80%.

Economics / Investing – What’s coming next

  • Silver and Gold continue to be unstoppable – After a small correction, silver and gold are higher on the week.  Silver is up on the week another $1 or so to close Friday at $48.60 and gold closed at a new all time high of $1564.10.
  • Dollar testing long(er) term lows – Again, it was only last week that we mentioned the dollar was testing multi-year lows and this week (thanks to Ben and The Fed) it broke through those lows and is now at 73.03 after going as low as 72.8.
  • Things that make you go hmmmMcDonald’s Hires 62k people (yea) but turns away over 938k other applicants! These are all people who were applying for part-time, minimum wage work.  If this is what a recovery looks like, we are scared to see a depression.
  • Downgrades - Just last week, S&P put the US Government’s credit rating of AAA on negative watch, this week its Japan’s turn.

Other stuff…

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Weekly Review – 4/18 to 4/23

There is a lot going on in the world today, after reading 100′s of blog posts across the personal financial blog-o-sphere; here is what we found interesting this week:

Living Richly – Spending money where it matters, enjoying living below your means

Frugal Tips – Saving money, great deals and more

Economics / Investing – What’s coming next

  • Silver continues to be unstoppable. Rising $4 more this week to almost $47, another $1 on Good Friday.  Silver is probably due for a pull back, as the chart appears to be going parabolic.  Parabolic blowoffs are never sustainable, but can run far higher and far longer than anyone expects.  Regardless, Ben and the Fed seem fixed on killing the US dollar in an attempt to devalue our long-term debt.  This means in the long run owning at least some physical metals is only prudent.  Speaking of which, why are pension funds taking physical delivery of actual gold these days?  Apparently they are fearful of a COMEX default.
  • Dollar testing long term lows – While talking about the dollar, the dollar index hit new lows this week, breaking the 2008 low of 74.2 and the 2009 low of 75.6.  It settled at 74.1 on Thursday, after going as low as 73.7.  There is pretty good chart support here around 74 from the consolidation we had back in early 2007, but if that breaks and the 2007 low of 70.69 doesn’t hold the US dollar could be in for a scary and disorderly drop.
  • Apple fails to see the light again? – Is it possible Apple will fall from grace for a third time in as many decades?  Andriod is not only outselling iOS, it is also going to surpass iOS in total devices very soon.  Now the US Army may be standardizing on Andriod.  On of the comments over at Engadget sums it up well – “exactly what Android does, it OPENS doors – where iOS (Apple) always decides to CLOSE them”.
  • QE3 coming?Really good article on Slope of Hope summing up the last years of Fed acts.
  • Max Keiser Documentary On Irish Eco Hell – This was all over the PF blogs this week, its a very interesting video and worth a watch.
  • S&P put the US Government’s credit rating of AAA on negative watch, warning they may downgrade it in the future.

Other stuff…

  • Weird stuff you can do with your pointsView from the wing has a fun write up on a CNN article on strange things to do with reward points.
  • Portal 2 was released – The greatly anticipated sequel to an incredible popular game came out this week.  So far, this game has a lot of the magic of the first one.  The new co-op mode is short, but a lot of fun.
  • Extreme Couponing and coupon fraud? – This is from 2 weeks ago, but we wanted to add it because it is a very interesting read.  It also has some good information on how coupons work.   Head over to Angry Cheapstake for more.
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Weekly Review – 4/11 to 4/17

Living Richly – Spending money where it matters, enjoying living below your means

 

Frugal Tips – Saving money, great deals and more

 

Economics / Investing – What’s coming next

 

Other stuff…