Archive for category Money

Cold-Blooded Christmas Shopping

Posted by enrique s in Frugality, Money on December 21st, 2010

I had a unique experience the last time we were shopping for a new car. Just before the salesman threw out his latest price, I had taken a bite of the complimentary biscotti that the dealership provided. Lacking any liquid to wash it down with, I tried to speak, and had to stifle a cough as I choked on the crumb in my windpipe. My non-response to his latest quote forced the salesman into action, as my silence was taken as a “no”. “Let me check with my manager. I’ll be right back.” Before I could stop him, he was gone. I guess he didn’t notice my bulging eyes and red face.

He returned after about ten minutes, with a lower offer in hand. On that day, not only did I get a lower price on a car, but I also learned something: sometimes the best action is no action at all. Or, no perceived action. I didn’t tip my hand, and by doing so, called his bluff. The fact that it was accidental was incidental.

The whole experience made me think of how a snake hunts. The snake doesn’t go crashing through the woods, sporting day-glo orange outerwear. The snake lies quietly in wait. The mouse that it’s got it sights on does all the work. The mouse’s impatience costs it more than a few dollars on a transaction; impatience costs the mouse its life. The mouse moves into striking distance, and the snake has a meal. A cold-blooded killer, the snake is.

And my silence to the salesman’s offer was rather cold-blooded, too. We humans are social creatures, and the back-and-forth banter that is the sales pitch is part of our nature. By not following the script, I forced the salesman to up the ante, and got a better deal out of it. I’m not saying that I got the greatest deal possible; all I’m saying is that keeping my mouth shut for a change actually saved me some dough.

So the next time you’re out shopping for a big-ticket Christmas gift like an LED TV, give the silent treatment a shot. It might save you a few bucks.

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Christmas, Christmas shopping

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Our Air Conditioner Broke

Posted by enrique s in Money, Rants on July 8th, 2010

The other day, the Northeast was hit by a heatwave. It’s rare to have consecutive days in the 90’s where I live, and the forecast was calling for a week-long blast of heat and humidity. For someone like me, who can sweat in the shower, this was not going to be a banner week. My thick German blood was made for the cold, and longed for a visit to its ancestral homeland, which surely must be cooler. To make things even worse, our air conditioner crapped out. I started to wonder: what did I do to offend the gods this time?

So, the perfect storm of hot, humid air and broken HVAC equipment descended upon the Barbarian household. Luckily, I could escape to work, leaving my wife to deal with the A/C company. She showed remarkable restraint, even when they didn’t return her many urgent calls, and I don’t think she murdered anyone, at least not while I was watching. I don’t know if I could have maintained such composure.

The service guy, a long-winded, chatty sort, was able to replace the fried capacitor that was causing the trouble. He also topped off the coolant, just in case. The whole adventure lightened my wallet by about $350, a fair trade, since I wasn’t looking forward to spending another night swimming in my own sweat (I’m sure my wife didn’t relish that thought, either). I think under this circumstance, I’d have handed the guy a blank check, and let him fill in an amount that he thought was fair. And then it hit me…

I was ready to make an impulse buy. I was under duress, like when you go grocery shopping with an empty stomach, and a Snickers bar is calling your name from the rack in the checkout lane. I would have agreed to anything, and I almost did. The service guy suggested that we install a surge protector. It would only cost an additional $175, and we’d never have this problem again. That would put the bill over $500. My first car cost me less than that. Like a cold, hard slap across the face, rational thought intruded.

I told him, no, thanks, but this is the first trouble we’ve had in ten years, and I was willing to live dangerously without the surge protector. After all, $175 is two nice dinners for the wife and I. I made a mental note to budget for a new capacitor ten years hence, and waited for the house to cool off.

So, honey, where would you like to eat tonight?

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air conditioner, impulse buying

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Lunch in Bayville

Posted by enrique s in Money, Rants on July 6th, 2010

The view from our table

Last Friday, my wife and I had lunch in the small town of Bayville, NY. Bayville is on the north shore of Long Island, and overlooks the Long Island Sound. It’s a little out-of-the-way, but the town is very quaint and picturesque, and our lunch was delicious. And yes, those ARE real palm trees in the picture. They must take them in for the winter. We also had a pleasant surprise after we returned home.

We dined at the Pine Island Grill, which is located on Bayville Avenue. It’s a multi-story building, offering terrific views of the beach and of Connecticut, which is right across the Long Island Sound. To get there, we took the Northern State Parkway to Route 106 north. We made a left on Main Street in Oyster Bay, and bore right as it turned into West Shore Road. This took us north to Bayville Avenue, where we made a right, heading east. The Pine Island Grill is about a quarter of a mile on the left side. The entrance is easy to miss (I missed it), so keep your eyes peeled.

We’d been to Bayville several times before. The fire department holds an awesome haunted house during the Halloween season. But today, we were interested in eating, and the Pine Island Grill has excellent food. There’s something about eating outdoors near the water that makes everything taste better. We split an appetizer of coconut shrimp, and I had the Chilean sea bass, while my wife had the steak teriyaki. They didn’t have the cheesecake that we ordered for dessert, so they provided us with heaping bowls of ice cream, on the house. Nice touch.

Another view of the Pine Island Grill

So, what was our surprise when we got home? Later that evening, we watched the latest episode of Royal Pains, which is filmed on Long Island. I’m glad we Tivo-ed it, because one scene was filmed where we just had lunch. For those who watch the show, it was the scene where Divya helps the little boy who stuck a macaroni up his nose. I guess the producers felt that Bayville looked more like the Hamptons than the real Hamptons. They also use Oheka Castle in Huntington as Boris’ residence.

So the next time you find yourself jonesing for a water view and some great seafood, check out Bayville.

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Bayville, Oheka Castle, Pine Island Grill, Royal Pains

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Surprises

Posted by enrique s in Debt, Money on June 30th, 2010

As I finished power-washing a couple of weekends ago, I was surprised to discover a lonely Bass Ale, sitting at the back of the fridge. There is a God! I was done with work for the day, and this brewski would be a nice way to wind down. As I poured half the bottle down my throat, I noticed a small colony of ants, busy doing whatever ants do. I remembered the fable about the ant and the grasshopper, and began to regret my hasty decision. Shouldn’t I try to make the best of my lucky find?

How often do you find yourself in a similar situation? Maybe it’s not a beer that you discover; maybe it’s an extra $20 stashed in your pants pocket as you do the laundry. Maybe the electric bill is a little light this month. Or maybe, your federal income tax refund arrives. Yahtzee! Your first reaction might be to take this new-found dough and blow it. But here’s where discipline comes in to play.

As I’ve mentioned before, I’m kind of anal when it comes to forecasting my budget. I usually have a two-year spending plan laid out at any time, and keep tweaking it as I come upon new information (like my son saying he’d like to go away to college instead of staying home). I even budget for when my cesspool needs pumping, and that’s every three years. Needless to say, I don’t let much slip past my beady little eyes.

So, any windfalls are usually rolled into our savings account. It’s the ant-and-grasshopper thing. Why blow the extra cash on a cheap thrill, when I might need it down the road? I work in the defense industry, where layoffs are always just around the corner. To someone in my field, a layoff is like the cruel, hard winter in the fable. You can party now and starve later, or make it through to Spring on your savings.

The other option would be to take the loot and pay down some debt with it. It’s a win-win. So the next time you find a lonely brew in your fridge, think twice before you chug it down. Make sure you get some Doritos to go with it.

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Aesop's Fables

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A Trip to Greenport

Posted by enrique s in Money, Rants on June 28th, 2010

Because we blew for a great vacation in the Bahamas last year, my family will be taking day trips as part of our Staycation (God, I hate that word) strategy. There’s plenty to do within driving distance, so Tri-State area, watch out, here come the Barbarians! Our first target: Greenport, on Long Island’s North Fork.

We headed east on the Long Island Expressway, and picked up the eastern part of Jericho Turnpike, or Route 25, when we hit Riverhead. This took us past the many wineries on the scenic North Fork in Peconic, such as Pindar, Osprey’s Dominion, and Raphael. Raphael is an awesome place. We went to a wedding there a few years ago. The main building resembles a Tuscan villa, with the vineyard in the back. Today, though, it was too early for a wine tasting, so we continued east.

We reached Greenport before our restaurant target, Claudio’s, opened for lunch. I paid the parking attendant a refundable $10 to watch our car, and we wandered around the harbor town, taking in a few small art galleries, and scoping out ice cream shoppes for an afternoon dessert. Claudio’s itself consists of a number of restaurants, from the casual, open-air Crabby Jerry’s and Claudio’s Clam Bar, to the main restaurant. We opted for the original, air-conditioned, Claudio’s.

The main restaurant has been owned by the Claudio family since the 1870’s, and the bar and dining area is very rustic-looking. I started off with a delicious roasted corn chowder with lump crab meat, and then stuffed myself with a pan-seared swordfish steak. They had Sam Adams on tap, a big thumbs up, and the beer was nice and cold. We were also treated to a nice view of Shelter Island across the harbor as we dined. The tab was just over 60 bucks, not bad for a lunch that included cocktails.

As we were eating our ice cream cones, my youngest son called. “Dude, are you going to the pie place?” The pie place, as he put it, is Briermere Farms. This is always a must-stop, as the pies are delicious. After picking up one apple and one apple-rhubarb, we headed home on Sound Avenue. An inexpensive vacation day, and I got to sleep in my own bed, to boot.

Is anyone else addicted to Briermere’s pies?

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Briermere Farms, Claudio's, Crabby Jerry's, Greenport, Osprey's Dominion, Pindar, Raphael, Riverhead

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Memories of Corruption

Posted by enrique s in Career, Leadership, Money on June 8th, 2010

You buys your ticket
Photo by Hryck.

Just like A Law & Order episode comes a story “ripped form the day’s headlines.” Power brokers conspire with members of an organization in order to make illicit profits. The conspirators succeed, but also get caught red-handed by a probe. Reputations are ruined, money is lost by the organization. If you think I’m talking about the Kansas Ticket Scalping scandal, you’re only partly correct.

The recent ticket scalping scandal at the University of Kansas brought back memories of the first company that I worked for. Our company’s CEO was caught defrauding the government by working in cahoots with a supplier. The supplier received no-bid contracts and preferential treatment, with taxpayers footing the bill. This caused the credibility of my company to suffer, and caused the ruination of many careers at both companies.

The Kansas scandal involves the Pump brothers, who are major power brokers in the college basketball world. They orchestrated a ticket scalping operation that netted two Kansas officials more than $800,000. Losses to the school are estimated to range close to $3 million. The pair sold thousands of tickets to the NCAA basketball tournament, a clear violation of the rules against selling more than 8 tickets at a time. Another four people will possibly face civil charges.

At my old company, our CEO accepted more than half a million dollars in personal loans from a defense industry power broker. In return, the power broker’s company received contracts from my company, an old “wink-wink-nudge-nudge” kind of deal. These sweetheart deals may have cost taxpayers millions of extra dollars, because they didn’t go through the DoD’s formal procurement process.

Are these rich guys not making enough money? Why are they stupid enough to risk all that they have for illegal profits? These were not calculated risks; with so many people involved, someone was bound to screw up. At Kansas, it was the official who was facing sentencing on an unrelated bribery charge. At my old company, the Operation Ill Wind investigation brought the illegal activities to light. Karma can be a bitch.

What’s even more ironic is the fact that our CEO had made us watch a refresher on the company’s Code of Ethics each year. There he was, schooling us on the importance of time charging and the acceptance of gifts from our suppliers. He was wary of the behavior of the peons in the organization. He obviously didn’t practice what he preached, as the corruption occurred at the highest level in the company: his office.

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ethics, Kansas Jayhawks, Operation Ill Wind, Pump brothers

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8 Ways You Overspend

Posted by enrique s in Debt, Frugality, Money on June 3rd, 2010

This recent article on Yahoo! Finance listed the 8 instances where we inadvertently pay more than we intended. I’ve fallen victim to at least a couple of them, and I’m sure everyone has. Which ones have taken you in? Let’s take a look at the list, compiled by Jodi Helmer:

1. Paying with plastic - Yup, did that a few times. I find that the physical act of counting out the bills makes the purchase seem more “real” to me. Swiping a credit card sort of insulates you from what you’re about to binge on. If you’re on a budget, leave the plastic at home!

2. Listening to music - I guess that’s why department stores play that crappy elevator music - not just to assault our ears, but also our wallets. I counteract this tactic by bringing my own music on my iPod. Somehow, Rush and Zeppelin inoculate me from impulse buying.

3. Buying in bulk - I know I don’t need a 5 gallon jar of pickles, but look at that low price! It may seem counter intuitive, but I don’t shop at Sam’s Club or Costco. I always wound up buying more crap that I didn’t really need. We once bought, oh, about a gross of Hot Pockets when my son was on that kick. We just threw out the remaining expired portion. Buying in bulk can be a money trap.

4. Dieting - I have a lot of experience in this area. If you can’t indulge your food cravings, why not splurge on something else that makes you happy? The way I handled this one was to look forward to buying just a couple new items of clothing after I shrunk my fat ass down to a normal level. I get some satisfaction without blowing my budget.

5. Tracking exact costs - When we go food shopping, I have an Excel sheet that we fill out beforehand. It has a lookup table with my best guess on the latest prices, and populates the shopping list with an estimated total. Factor in a plus or minus 5 percent, and we’re good to go. No underestimating.

6. Buying clearance merchandise - I won’t buy something that I don’t need just because it’s on sale. See my reason above for avoiding bulk purchases. This does take discipline to say no.

7. Shopping without a list - We have a rule in our house - if it’s not on the list, it doesn’t go in the cart. Case closed. There are few absolutes in life; this is one that we adhere to.

8. Falling for clever pricing tactics - Salesman use anchoring all the time. After showing you the expensive model, they’ll show you a cheaper version, which is a bargain in comparison. A bargain, until you realize it’s still way over your budget. Stick to your guns. And don’t fall for any high-pressure tactics, either. Do what I do - just walk out.

Did the article miss anything?

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Budget, impulse buying, Led Zeppelin, Rush

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10 Worst-Paying College Degrees

Posted by enrique s in Career, College, Money on June 1st, 2010

Yahoo! HotJobs recently ran an article about the Worst-Paying College Degrees. I was surprised at a couple of them, namely the education-related degrees, but overall, there weren’t many surprises. Without further ado, here’s the list:

10. Drama - I guess those stories of actors paying the rent by waiting tables is true after all. A future salary of $57K isn’t going to break any box office records.

9. Fine Arts - Remember the commercials for the Starving Artists Art Sale? While you won’t starve on $56K a year, you won’t be able to visit the Louvre, either.

8. Hospitality and tourism - This one was a surprise. All the free travel in the world won’t make up for a future salary of $54K per year.

7. Education - This shocked me. Around here, teachers get great benefits, small class sizes, and a terrific pension. I know this because my school tax bill is enormous. The teachers in my district make more than $54K, too. It’s public record.

6. Horticulture - Landscaping didn’t pay much when I did it back in college, and apparently things haven’t changed. If you like puttering around in the dirt, do it on the weekends, unless you’re content with a $53K salary.

5. Spanish - A kid down the road is studying in Canada. He wants to work at the U.N. Making under $53K might change his mind, if this also translates to French.

4. Music - The reality of pulling down $52K is a cold slap in the face for any budding Eric Claptons. A colleague has a son who majored in music education. He’s got his degree, but no job prospects. He mentioned joining the military. At least he’ll get three square meals a day.

3. Theology - Good thing the clergy isn’t in it for the money. The only dough they’ll get near is the consecrated host if the only make $51K.

2. Elementary education - Another shocker. A fifth grade teacher in my district was pulling down over $75K after 20 years, close to double the article’s projection of $42K. I guess it matters where you teach.

1. Social work - $42K for helping the underpriviledged. How much does A-Rod pull down a game? Five times that!

So while you follow your bliss, be sure that it will allow you to feed yourself.

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Does Your Education Really Make a Difference For Your Financial Future? One of the age old questions that many people have is whether having a good education will predispose you towards being wealthy. While there are many schools of thought on this, the general consensus is that it is easier to make more money when you have a special degree, but......
How To Gain An Education That Really Matters You can’t doubt the importance of an education; in today’s world, it is the key that opens the doors of opportunity; it is an asset that appreciates in value the more you use it; it lays the foundation for a good job and higher academic achievements; and it adds to......

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Reaching New Heights in Expenses

Posted by enrique s in Frugality, Money, Rants on May 31st, 2010

Two DJs on the local rock station were dicussing the recent summitting of Mt. Everest by a thirteen year-old, with opposing views on the subject. One was totalling against it, calling the kid’s parents too indulgent, and that their real motives were publicity rather than the kid’s self-actualization. The other DJ, who admitted that he thought that the kid was part of a generation of numbskulls, had the opposite point of view. He figured that if the kid has an outstanding talent, why not let him develop it?

An inspiration to us all

The kid, Jordan Romero, told Time in this article, “I’m doing this to inspire other kids, hopefully across the world, to get outdoors and to set goals in life. I’m doing this to set an example for them.”

How much?

Now, I’m for anything that will get kids away from video games and out into the fresh air, but my first thought was: What does it cost to climb the highest mountain in the world? I mean, you’ve got the airfare, the travel to the mountain after you get to Nepal, the Sherpa guides, and the equipment. Couldn’t he have picked a hobby that was a little less expensive?

Hey, UFC is on

According to this eHow article, trips cost anywhere from $25,000 for a bare-bones excursion, to $60,000 for a guided trek. Holy crap! Mountaineering must be a rich person’s sport. I get nervous when my son talks about renting UFC Pay-Per-View, and that’s $50. I also wouldn’t have to freeze my ass off on the top of a mountain. Note to self: hug son when you see him.

No great loss

Not every kid will be able to follow in Jordan’s footsteps, because they lack the financial resources. But that goes for other endeavors of the rich, too, like polo or yachting. I guess the world can do with a few less polo players and mountain climbers.

Let me check that Pay-Per-View schedule…

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Shock and Awe: Merit Raise Time

Posted by enrique s in Career, Money on April 3rd, 2010

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Photo by r000pert

Merit increases were doled out last week, and there were looks of disappointment throughout the department. “Shock and Awe” would be a better description. Many people didn’t get raises, and those who did were bitching about how small they were. As far as my own increase, let’s just say that I got what I expected.

We’re on the verge of yet another layoff, which has become an annual event in my company. Most of the people have no other source of income, so all of their eggs are in one basket. Expecting a raise during these harsh economic times might be wishful thinking. So what can you do to soften the blow of a shitty merit increase? How about cutting your spending?

Brown Bag It

You can save some dough each week by bringing your own lunch. I’ve been doing this for years, and it’s saved me a bundle. Estimated savings: $1,000 per year

Drink Water

Maybe now is a good time to cut down on your coffee drinking. Or, take to the extreme that I’ve taken it, and kick the habit. Three cups a day from the cafeteria at work used to cost me around 5 bucks. Estimated savings: $1,250 per year

Cancel Subscriptions

Do you really need all of those magazines? How many movies do you watch a month under your Netflix plan? Does anyone really need a newspaper anymore? Try dropping the daily paper, a couple of magazines, and/or Netflix. Estimated savings: $500 per year

There, I just got you a $2,750 raise. You’re welcome! Spend it wisely.

Little expenses can add up. I didn’t even broach the subject of alternate income streams. What other areas can you think of cutting in order to make your dollar go further?

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Archive for category Money

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Our Air Conditioner Broke

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Memories of Corruption

8 Ways You Overspend

10 Worst-Paying College Degrees

Reaching New Heights in Expenses

An inspiration to us all

How much?

Hey, UFC is on

No great loss

Shock and Awe: Merit Raise Time

Brown Bag It

Drink Water

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