November 2011

Website Development Business

I posted about starting an online business last week and a lot of the things that I stated would be good things to do were either ones that I had already done or was about to do. I took the time to study about website development and what it could lead to in terms of money and career. I have found that there are web developers who work at Google who do not have a degree in computer science. They just used their experience with it to make some big-time careers out of this skill.

Investing for Your Kids

Savings and CDs are a great way to start!

As parents, we do all kinds of things to ensure a good future for our kids.  One of the best ways we can help our kids long into the future is by creating an investment plan or savings accounts as soon as they are born.  For many of us, that extra money can be difficult to come by, but you would be surprised at how far a simple $25 per month can go in 18 years.

Highest Paying Jobs for College Graduates in 2011

There has been a lot of talk about how education has to be improved in America and I am going to join in the discourse in my next posts. I thought it would be a great way to start it off by talking about what college majors pay the most and I will be focusing on the class of 2011. As we all know by now, gone are the days when you went to college to study Latin and these days the ROI has to be factored in.

4 Ways to Save Money on Your Thanksgiving Dinner

Your Thanksgiving Dinner Could Cost You 13 Percent More This Year


Your Thanksgiving turkey and all its fixings are going to cost you more this year; approximately 13 percent more, says the American Farm Bureau Association (AFBA). Should you be inviting 10 people (including yourself) to your dinner table this turkey day, you can expect to pay just under $50 for turkey and trimmings.

This $50 price tag includes the turkey, stuffing, cranberries, sweet potatoes, rolls with butter, vegetable tray of celery and carrots, milk and coffee. And lets not forget the pumpkin pie with whipped cream as that's included too. And you'll also have leftovers, promises AFBA.

Still the turkey represents the largest big ticket item on the dinner table this year -- coming in at $21.57, which is a 25 percent increase from last year. Other items on the menu list also have price increases, including milk, pumpkin pie mix, bread stuffing, yams, and coffee.

Is it Safe to Keep Money in Banks?

While few of us were alive to remember the run on the banks during the Great Depression, most of us have heard the tales, and can imagine the terror and panic that ensued when there was not enough money to go around.  FDIC insurance is supposed to prevent that from ever happening again, but with the roller coaster we call an economy today, I sometimes wonder if keeping all of my money in the bank is a sound idea.

Starting an Online Business

One of the first jobs I had back in high school was something like what I am doing write now on Klat. I got to write about hotels and get paid for it. I became addicted to online work as it allowed for a lot of flexibility that really fitted my personality. Lately, I have been really looking at becoming an internet entrepreneur as I know from my experience doing various jobs online how awesome it can be and at the same time from a business standpoint it can have less overheads and in some cases no expenses at all.

Investing in Relationships

I’d like to go talk more about how networking and relationships can get you places. The following are some tips along with a few adages.

Firstly, remember that a person’s name is to that person the sweetest and most important sound in any language. You will never go wrong with that. Of course there has been plenty written about how being an effective listener will help you in any relationship. Some things to keep in mind is that people who you are talking to are a thousand times more concerned about themselves and their wants and problems than they are in you and your wants and problems. A person would care more about a headache their suffering from than a flood in India that kills a hundred thousand people. An ankle sprain would be more concerning for an individual than a famine in Africa. Remember this next time you are conversing with someone.

Emotions and Investing

Avoid Acting on Your Emotions

The markets are sensitive and may be affected by the media, rumors or the emotions of investors. Hype can move the markets and cause investors to panic and stray from their investment plans if they do not understand the true reasons for the fluctuation of the markets. People tend to act on two emotions where their money is concerned – greed and fear. Emotions can evoke fear in a bear market or greed in a bull market.

Importance of a Budget

A personal budget is an easy tool to create and use.

Why is it, that the “B” word often causes us to feel nervous, and therefore we avoid it? A budget really doesn’t have to be a scary thing. In reality, a budget is probably the best thing every family can create. It will not only help you understand where your money is going, but it can help you eliminate debt and begin a better savings plan.

Businesses to Start with No Money

If you are at a point in your life where you need some extra income but do not have any income to invest, it can be tough to get started.  But you need not fear, there are many businesses that can be started with no money. 

Assistant – Many people are looking for someone to help them with a variety of tasks and are willing to pay someone to assist them.  This might be running some errands, small things around the house, sorting out paperwork or maybe just spending some time with them.  This type of job would only cost you your time and the money to get to your destination which would be minimal.

Online Work – If you have education or skills, you likely can advertise your services online and find some work.  This runs the gamut from website design, writing, marketing, personal assistant, accountant and pretty much any other task you can think of that people want to outsource.  It can take some time to get yourself established and find enough work to keep you as busy as you would like.

Cleaning – There are always people who are looking to have someone come in and clean their house for them.  This may not be a glamorous or fun job, but it is one that you can get started in easily.  Quite often the clients purchase their own supplies so you only need to worry about getting to your jobs.  Once you have a few clients you can get referrals to help expand your business.

Pet Sitting – This is becoming more popular with more and more people preferring to leave their pets with someone.  The only issue here is if you have room to have the animals at your home or if you can get to the owners home to check up on them.

Where to Invest in Right Now

This isn’t going to be some random advice where I tell you some stuff to do with your money and don’t do it myself. This is actually a look into my personal financial diary. I will tell you what I am going to do in 2012. Also, this article will only cover what stock I am going to be investing in. The stock market has actually done very well these last few months.

So here is the inside scoop on what I feel are booming industries for next year. Gold mining companies should be a great investment as gold has been the sought after metal for obvious reasons. It is one of the best conductors of electricity, does not tarnish and human beings have been in love with it since pre historic times. If you want names, the US Gold Corporation should be a good buy. NovaGold Resources and Dutch Gold Resources are also publicly traded companies that should be checked out.

Bank Fees Got You Down? Try ING

I had a Washington Mutual bank account for more than 10 years, until they were taken over by Chase.  Having little choice in my small town, I stayed with Chase until they were taken over by the bank of greed.  After Chase began charging fees just to have an account, I started doing a lot of research on potential new banks.  Since there are only four banks in my town and three of them charge fees now, I had to really dig to find something that would work for us.  We do not have direct deposit, you see, so most banks would cost us money to use now.

Human Engineering

In all my previous posts in this blog I have been talking about financial engineering. I thought I should take a step back and look at investments from a different angle. That is the idea of human engineering and how that can greatly impact your life and your money. Ever since I was a kid, people who I have reached out to for advice have told me that networking is the key. It’s not what you know, but who you know. This translates to knowledge and skills are actually not as important as the network of personal contacts that an individual has. This could apply to business, getting a job or even finding a romantic partner.

College Students: How to Save Money When Flying Home for the Holidays

Ways to Save Money When Booking a Flight

Airfare traditionally increases during the holidays. But if you want to go home to visit family during your college break, there are a few ways to save some money when booking your trip.

  • Fly Tuesday through Thursday. Avoid flying midweek when the fares are higher. If you have to fly on Thanksgiving Day, choose an early morning flight. You'll not only most likely save a few bucks, but the airport will be less busy early in the morning.
  • Travel light. Most airlines are now charging $25 or more for the first checked bag. Try to fit all of your clothes (and gifts) into your carry on suitcases. Most airlines allow 2 carry-ons: one to go overhead and one that goes under the seat.

How to Pay Yourself First

When you listen to financial gurus, a lot of them will tell you to make sure that you pay yourself first.  But for many people, this is not as easy as it sounds as they have bills to pay and other financial commitments.  By the time the bills are paid, housing is paid for and everyone is fed and clothed, there may not be a lot left.  But with a bit of creativity, it is possible to still pay yourself first and start building a safety net.

Take Advantage of Checking Account Offers

Are you looking for a little extra cash for the holidays? Consider switching banks and earn a bonus.

Many banks are offering promotions to new customers just for opening an account. This is a great way to earn some extra cash, and virtually requires no work. Depending on your location and the banks in your area, you might be able to earn up to $200, or more, by going to a new bank and opening account.

This is not a great choice for everyone. Keep in mind that there are numerous things you will want to consider before going through with this. The first step to do this is to compare some banks and their current promotions. Determine which of these banks is conveniently located for you. Look into other factors, as well, such as the types of services they offer. Almost all banks offer online banking options now, but many banks are beginning to offer other services, such as automated deposit acceptance. With this, customers are able to deposit cash or checks, into their accounts, through an ATM machine. The ATM machine prints a copy of the front and back of the check, in most cases, and this gives you a record of your deposit.

One other consideration to keep in mind is whether there are specific requirements associated with the account. In some cases, a bank requires that a customer maintain a minimum balance in the account for a specified period of time. In other cases, a customer must attach direct deposit of his paychecks into the account.

If you are looking for a way to earn a little extra cash, look into this option. You could become $50 richer, or even more, in many cases.

Paying off your student loan debt

This is for you 20-to-35-year-olds out there. In terms of statistics, being in debt is pretty normal. There is of course the well-known distinction that is made between good debt and bad debt. Good debt is something that goes up in value over time, whereas bad debt declines in value. Education is a good example of good debt. I will be talking about student loan debt as it is one of the largest types of debts that twenty-somethings and thirty-somethings face. They are a barrier towards wealth building and careful planning can help you pay them off.