I’m happy to report that it does actually keep the coffee warm, but not hot. Basically, for me it keeps the drink warm enough to drink, which is exactly the purpose in the first place. They do serve USB coffee cup warmers that plug into a USB port on your computer, but I have read that these don’t really produce a whole lot of heat. The candle warmer will heat up your mug to the point where the bottom will be pretty hot to the touch.

So if you are looking for a gift to give a coworker or you just hate cold coffee, then try buying a cheap candle warmer, just don’t forget to turn it off, burnt coffee smells…Choose from the most used tags in Post Tags

Don’t you love it when people go shopping and come home with bags of new merchandise and justify their budget busting spending by saying, “I saved more than I spent.”  When I go to the store and get tempted into buying something that is on sale, but wasn’t on my original shopping list, that the best bargain is to simply keep my money.  I know, it’s a hard concept to grasp, but actually resisting the urge to spend is a better deal than buy one get one free.

What I find as one of the worst deals EVER, is buy one get one half off.  Unless this deal is in relation to buying a car or a house, it’s a horrible deal, but it works on so many!  My wife struggles with this deal when looking at clothes.  When I’m dragging my feet behind her at Ann Taylor Loft (usually sitting on the one available bench in the store with someother fellow husband), I see people buy a $40 shirt that they convince themselves they really like, because they can then get another one for $20, that they like even less, because it’s the same shirt that they kind of like, but in a different color they like less, because it wasn’t their first choice.  That’s a long example, but an accurate description of good store advertising to get us to spend our money.

Another bad discount is the offer enticing us to spend a certain dollar amount in order to receive a discount.  For example, spend $75 and receive $15 off.  Yes, I understand this is a 20% discount, but you have to ask yourself, would you of spent $75 in that store anyways?  If so, then maybe it is a good discount, but this is rarely the case.

Although it’s probably well known by now, stores will almost always offer you a 10% discount on your entire purchase if you sign up for their stores credit card.  Don’t do it, your credit score is worth more than the minimal savings you’ll receive.  This reminds me, don’t sign up for the credit card at the airport for a free round trip either—it burns me to see people do this. If you want a free trip, volunteer to be bumped, in fact, call your airline before you even leave to the airport and ask if they need any volunteers.

Just because something is on sale doesn’t mean it’s cheap and just because something is free doesn’t mean it won’t cost you.  $

I saw this on an ING billboard on my way to work today and I love it.  I don’t know about you guys, but the recession-like economy is starting to show its colors.  At first, most of us just pretended it was bad, but didn’t really care.  Then, maybe we heard of a friend or family member who was going to lose their job.  By now, unfortunately we are seeing the effects on a daily basis.  More friends and family are losing their jobs, many more are worried about the prospect of their job disappearing and many of us are wondering the same.

There are other signs that this downturn is more than just headlines on Sundays.  McDonald’s sales are up while slightly higher priced restaurant numbers are down.  Enough jobs have been lost to equal the entire state of Maine looking for employment.  Our malls are seeing more and more stores with going out of business sales and more are shopping used.  A large number of people are trying to free up money by selling their second cars.  401(k) loans are way up and don’t show signs of slowing.  Credit cards are increasingly being used to pay off mortgages just to avoid foreclosure for another couple of months.  Your original bank is probably not your bank anymore.  Some actually know what the term “securitization” means now.  There are now bigger lines at job fairs then at the DMV–this thing is for real and we better start acting like it.

Better save than sorry. We harp on the importance of a strong emergency fund all of the time.  Everyone pretty much knows that they should have one, but it’s too easy to ignore this responsible thought.  If there has ever been a time where reality is a teacher, the time should be now.  If you find yourself still safely in a job and living as if this recession-like atmosphere doesn’t exist then I suggest tampering your spending and accelerating your savings.  Just like the millions looking for jobs now, you never know what is going to happen tomorrow, next week, or next month.  There are many things out of our control, but our spending habits are our own.

Are you expecting the average refund from the IRS this year of around $2,000?  Better save than sorry. If you can jumpstart a non-existing savings with a couple thousand dollars, then you are well on your way to security.  If at all possible, reallocate your spending and start putting a few extra dollars a month away, whether it takes a slight alter to your daily lifestyle or not, after all, your better save than sorry. $

Just like you hear everyday, our economy is weakening and investors are frantically trying to find a safe place to park their money.  Could beer stocks be this safe harbor?  The idea is intriguing to say the least and is valid on many accounts.  One of the most common sense approaches to investing in beer is simple, people drink in good times and in bad.  Well, I decided to break down Anheuser-Busch Companies Inc. (BUD) to see if this approach is worth pursuing. 

Currently, BUD is trading at 61.30 or 15.75 more than its 52 week low, which is not bad considering many companies are creating new 52 week lows on what seems like a daily basis.  Bud P/E (price-earning ratio) is 21.63 and its EPS (earnings per share) is 2.83.  All are respectable numbers, but a standout is their dividend history.  Over the years, BUD has maintained a slow and steady dividend climb that currently yields 2.10%, which is better than my money market fund is returning.  Although the stock has actually gone up compared to the S&P in recent months, the price may be inflated due to swirling take over rumors.

The numbers appear to be decent and the logic reasonable, however, I’m not sold on investing in this industry just yet.  I like the idea of solid dividend growth and a business model that basically sells itself, but protecting my portfolio with single stocks is an idea that makes me nervous.  What are your thoughts?  What other industries have the potential to perform in bull and bear markets?  $   

We realize that looking at your monthly investment statements is starting to become a drag.  Each month seems to be getting worse.  Naturally, when we see negative amounts in our holdings we automatically feel like selling.  There are times when selling is probably the best option, for example when you sell losses to offset some gains or the company is just really going nowhere.  But for the most part, holding is probably your best option and if you can afford it, purchase additional shares at a discount.  For those of you that automatically invest with each paycheck, you are in the best position.  You are experiencing losses, but are buying cheaper, which in the end will amount to less stress and a decent return.   

Remember, when you sell a security at a loss, you lock in the loss.  In other words, that money went to the left, to the left (Beyoncé anyone?).  There’s no waiting for the stock or fund to recover and this fact is easily overlooked when emotions take over.  In particular, selling off small amounts of securities sets you back in commissions as well, which adds to your loss.  I’m not saying you should hold on and never sell anything, however, when times get bad, your best bet may be to pretend you don’t notice.  Check out a previous post where we discuss the benefits of staying calm when the market falls.  $

Manuals and for dummies books are great resources for do it yourselfers, but many times, I find the words just aren’t enough.  I need to see somebody in action performing the same tasks I need to in order to make sense of a particular job.  For this, I often use http://www.expertvillage.com/ Expert Village is a site full of “experts” explaining in short video clips how to perform a wide variety of not commonly known tasks from proper ways to exercise to how to apply eyeliner.  Best of all, its free!

Because I leave the eyeliner wearing to Ben, I get the most use of Expert Village’s automotive section.  A couple months ago, I watched a how to video on draining and replenishing your car’s coolant.  What turned out to be a pretty simple procedure, ended up saving me around $50.  My next project is going to be replacing the break pads on our car.  Again, until yesterday I had no idea how to do this, but research in my car’s mechanic manual and some help with Expert Village and most importantly some patience, I should be able to figure it out (I’ll let you know how it goes).

Be your own expert, save some money, and impress yourself by not being intimated by projects, rather look forward to them. $

But how do you go about learning the ins and outs of your car?  I would recommend everyone buy a service manual (different from your manual that comes with your car).  I use a manual from Haynes Repair Manuals, which cost about $20.  This comprehensive guide ranges from doing the very basic fixes to more advanced procedures that are specific to your vehicle.  Just today, I cracked open my manual to learn how to drain the transmission fluid and replace the filter.  The cost to me was $30 in materials, compared to the $100 + it would have cost else ware.

The advantage of doing a little auto maintenance yourself goes beyond saving a few dollars.  It helps build knowledge of how your vehicle operates, which has multiple upsides, like standing your ground with an unscrupulous mechanic.  Also, putting a little sweat into your vehicle only makes you appreciate it more.  For me, this means driving it more conservatively and making sure I do the schedule maintenance. Give it a shot, regardless of you current car knowledge, I know you can do it – I’m proof! $

Many vehicle owners think they are ahead of the game when they trade in their car after 3-5 years of ownership. By doing so, the owner thinks they can avoid the high cost maintenance that comes with older cars. This thought process makes sense for a second, but that’s about it. Generally, there is only one winner in car trade-ins, and that is the car dealership. Because of the growing life expectancy of cars, dealerships can resell your car at a significant profit, based on the amount they gave you in trade-in plus the profit they are making on your purchase of a newer car. Also, people rarely trade-in their vehicle, rather, they trade-up – creating an endless cycle of car debt.

Most vehicles manufactured during the last 20 years, with proper maintenance, can realistically last over 200,000 miles. Consider keeping your car’s maintenance history with ausedcar.com, at no cost, this easy to use site allows you to enter in your cars maintenance record so you can remember what maintenance is do and when.

Remember, vehicles are one of the only guaranteed depreciating “investments” people will make, and borrow money to do so. So let’s stop paying car dealerships and banks – ride your car until it dies, literally.

Here are some things to consider when purchasing a car, preferably a used one!

1) Pick a vehicle you are truly happy driving. For the most part, people get new cars not because they need to, but because they want to. Try to pick a car you will be comfortable and confident driving for years to come.

2) Avoid buying trendy vehicles. Just like tattoos, what was once sweet may now be embarrassing. Bright colors, strange designs, or little passenger room may all be things that originally attracted you to a vehicle, but are the same reasons you get rid of them only a few years later.

3) Read the reviews. I’m a big fan of howstuffworks.com Auto Consumer Guide. Nearly all cars are listed with the pros and cons easily laid out, average gas mileage, expected maintenance and much more.

4) Check and compare the blue book value. Obviously, it’s impossible to know an exact amount a car is worth, but based of the cars mileage and features, the Kelly Blue Book value will help you realize bargains from rip-offs.

5) Look online. Often times people rely on car dealerships within their area or see commercials for what look like amazing must do offers. However, the true value may be sitting in a nearby used lot or a neighbor’s garage. Cars.com is a great tool for searching cars in your area. Break your searches down to only cars within your price range and with fewer than X amount of miles.

6) Research the cars history. This is actually simple to do and many used car dealerships will pay for the search for you. CARFAX is a great deal breaker when researching used cars. For a few dollars, you can find out if a car has been in multiple accidents, flooded or even vandalized. $

As we can see from Google’s page, it is officially Earth Day 2008! This is a good time to address the environment and within that vein to address the savings that go along with that. More and more products are becoming increasingly available for consumers to both save the environment whether its by reducing carbon production or by using less energy. These range from compact fluorescent light bulbs to installing solar panels on the roof of your house.

Compact Fluorescent Bulbs
These are great for saving some extra money as well as reducing energy usage as well. On average, these bulbs save about $50 over the course of the bulbs life time, which in many cases is several years, not to mention LEDS. Most conventional bulbs need to be replaced about every year or so and that doesn’t even account for the amount you save on your electric bill. It pays to crunch some numbers and see the savings…lucky for you, I just happen to have a spreadsheet that does a nice job of letting you enter in your own information and see the savings.

Altering Your Water Bottle Experience
Provided you are up to speed on the water bottle situation, you might want to consider using some sort of filtration device, like a Brita filter, or at least reusing a safe plastic bottle and just keeping it clean between uses and out of the trash. Even plastic that gets recycled is not as safe as simply reusing it as much as possible.

Keep Your Flow Low
Ever thought of using a “low-flow” shower head? These are great to reduce all that water that just gets sent down the drain when in the shower.

Solar Up
Some states will actually give you money back to take the edge off the installation prices of putting in your own solar panel on your roof. These incentives are a good idea as the costs can be deep, but well worth it when you consider the long term savings. Right off the bat you can expect to knock off about 3-4 months out of the year in your electric bill, not to mention those times where you are actually feeding electricity back in to the grid. Your meter spins backward and you get money from the electric company. This idea is intriguing to me and am wondering if anyone has tried it.

Little Steps to Big Savings
Of course there are the little things that can always help out. Turning off the water while you shave and/or brush your teeth. Turn out the lights when you are not in the room, or are going to be out of the house. There is also such a thing called “vampiric power usage” and an example is when your TV is plugged in but not on, it still draws power even though it is in standby mode. Consider putting these sorts of appliances on a power strip to cut the power off completely when not in use for extended periods. Those Energy Star appliances are supposed to make a huge difference as well.

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Opinion -

Congress, regulators, and the financial services industry are pointing fingers at each other in an attempt to pass the blame regarding who is at fault for our current credit crisis. In reality, everyone probably shares a piece of the blame; however, to leave a lack of sound financial literacy out of the equation would be arrogant, to say the least. The fuel that started the billion-dollar write-downs our major financial institutions are currently acknowledging is simply consumers in mortgages they cannot afford. Sure, there were a certain number of borrowers who did not have the adequate terms of their loan disclosed to them at closing, but ignoring this relatively small number of these predatory lending situations, we are left with an overwhelming number of borrowers who agreed to terms of a mortgage that they knew and the banks knew, were unaffordable.

Our entire credit crisis, which has reverberated to nearly all sectors of our economy has originated from a source so easy to identify, so easy to avoid, and so easy to understand – a home mortgage. Congress has so graciously designated April as Financial Literacy Month again this year, and just this week, the House Financial Services Committee held a hearing on the issue. For a couple of hours, Representatives from around the country patted each other on the back for creating a month devoted to financial literacy, which they call a “timely” event considering the state of our economy. I am glad Congress is at least starting to look at the matter of financial literacy, but considering their actions “timely,” would only be appropriate if they enacted legislation to put financial literacy in our school system years ago.

Our current administration still advocates for and pleas for, the survival of the famous No Child Left Behind Act. This legislation was created with good intentions, but in the process of testing children in various subjects, without enough focus on financial literacy, we have left an entire nation behind. The concept of an Adjustable Rate Mortgages (ARMs) is not complex, and likely, a subject, if explained to children, could be understood at a young age. However, we find our nation struggling financially due largely in part to adults who simply could not understand that with an ARM mortgage their loan rates would reset, which in turn would raise their monthly payments – embarrassing, considering its effects on economies worldwide.

Our nations saving rate is still staggering close to 0%, which means as a whole, our nation spends more money than they make. What is most troubling about this is our employers are quickly moving away from the traditional pension retirement system that many of our grandparents enjoyed. Employees now have to take their retirement into their own hands by actively enrolling in their companies 401(k) or other tax-sheltered plan. Participants are now asked to pick their own investments based off what the employer plans offer. In essence, we are asking the same people, who struggle to understand the terms of their mortgage, to choose complex investments in order to secure a financially healthy retirement – this is unrealistic.

Although these ARM mortgages are the primary reason for our debatable recession, there is no question the severity of our credit crisis advanced due in large part to an increase supply of lending products. Eventually, we were probably going to be burned anyways – credit cards, student loans, car loans, payday loans, home equity loans, store credits, and tax refund loans have fueled a consumption lifestyle our society has become accustomed to, regardless of its affordability.

Credit is far too easy to obtain, and consumers without adequate financial literacy are like kids in a candy store. It is not their fault either, kids learn what we teach them and unfortunately, this does not include an in-depth looks at compound interest, mortgages, mutual funds, and adequate savings. Why is it that we fail to teach our nation’s youth something that is essential not only to the well-being of the student, but also to our economy as a whole? It is our hope that a major financial literacy push will someday be achieved, but in the meantime, we will continue to see more write-downs, foreclosures, bankruptcies, and ruined lives – it is clear, the United State’s newest epidemic is insufficient financial literacy. $

Right before I left work today, I read an interesting article at Bible Money Matters, that couldn’t have come at a better time for me. Peter expands upon the notion that purchasing a home, especially for first timers, is a long, complicated and inevitably full of hidden costs. Some of these I had heard about and some were a surprise. We would like to thank BM² for the interesting content and figured we should try and contribute something as well, since this is a hot topic for many readers out there. Vered, don’t worry we are going to get to your suggestion soon.

HGTV recently ran an episode, completely full of commercials, about the 25 Biggest Real Estate mistakes that both buyers and sellers make. We are going to show them in two colors so that they can be better distinguished between buyers and sellers (or both). Now without a break for our sponsors:

25. Buying a House for its Decor
Remember that you are buying the house, not the stuff inside of it, so make sure you see beyond the decorations and look at the bones of the home. Focus on the floor plan and the square footage. You also might want to measure the dimensions and graph out how that’s going to work with your current belongings.

24. Not Providing Easy Access for Showings
Make your house easily accessible to potential buyers. If there’s nowhere to park or it’s difficult to get into, buyers may just skip it and look at someone else’s property instead.

23. Not Researching the Neighborhood
It’s absolutely critical that you research the neighborhood before you buy. Check out the area, amenities and the school system to be sure that your address corresponds with the correct school district. Also attend a community meeting, if possible. You’re not just buying a house, you’re buying a piece of that real estate and the land around it.

22. Losing Money With Auctions
While the starting bidding price for a house on auction might be a good deal, it doesn’t mean the final price will be. Make sure that you are very strict with your budget when you are bidding — do not go over your final price because you got wrapped up in the excitement of a bidding war. Another thing to keep in mind is that when you buy a property at auction, you aren’t able to get any of the warranties or guarantees, and you are not able to do a home inspection. Find out if the auctioneer is going to put those charges on top of the sale price as well as if there are any liens on the property. You could be responsible for paying the property taxes on that house you just bought, which could make what looks like a good deal into a really bad deal.

21. Trying to Make the “Hard Sell” While Showing
If you are selling your house, you really shouldn’t be around at the open house. You might want to try and sell the place on all the reasons you think the house is great, but that might not translate to the buyer. If you leave, you allow the buyers to really give unbiased objective feedback to the agent, which is only going to help you in the end.

20. Waiting Until Spring to Sell Your House
Spring is the time of heaviest real estate activity, but that does not mean that people don’t buy houses 365 days of the year. That doesn’t mean you can’t emphasize your home’s seasonal amenities.

19. Treating Real Estate Like the Stock Market
When the real estate market is really hot and is appreciating really fast, people tend to look at it like it’s the stock market. But playing real estate is nothing like the stock market — when you invest in real estate, you really need to take a long-term approach.

18. Failing to Market Your Home in Different Ways
Don’t market your home with just a for-sale sign. Explore other marketing tools as well. Talk to your real estate agent about the marketing that they will do. It’s something that should be set up from the initial signing of a contract with an agent. Some homes have virtual tours and photographs online. If you choose to go that route, don’t forget to include the floor plans. That way, people can see the layout of your home and know that if it it’s right for them.

17. Not Thinking About Resale
When you are decorating and renovating your home, you need to think about what is going to appeal to a broad section of buyers when it comes time to sell it. Buying houses and being in the real estate market is like chess, you always want to look two or three steps ahead in the game.

16. Buying Without Actually Seeing the Property
It’s really easy to buy a house without seeing it because of the Internet and virtual tours, but virtual tours can be deceiving. Plus, it’s really hard to actually get a sense and feel of a home by only looking at it online. You need to actually walk through the place yourself. If that’s just not possible, hire an inspector to go look at the property and provide you with an assessment.

15. Trusting Everything a Real Estate Advertisement Says
Don’t assume every ad is fact. Learn to decipher real estate lingo. For example, cozy means small, and as-is means it’s a fixer-upper. If there are a lot of exclamation points in an ad, it means they are there just to take up room because there is so little to say about the place. Follow the old adage: If it sounds too good to be true, it probably is.

14. Picking the Wrong Agent
Treat meetings with agents like a job interview because that’s really how it works — that person is going to be working for you. Talk to your friends who’ve sold houses and had a good experience with their agent, and go to open houses and observe how that agent interacts with other people. It’s also a good idea to meet with the agent in their office. It allows you to see how organized they are, what kind of environment they work in and whether that’s conducive for them being able to do a good job for you.

13. Not Hiring an Agent
There’s a lot more to selling a house than just putting a sign on the front lawn. If you don’t have an agent, you will not get on the multiple-listing service (MLS). That means that other agents are not going to know that your property is for sale. Another thing to consider is if you are willing to show the house each time someone wants to come by and look at it? If you do plan to sell your house on your own, always have a lawyer present at a closing. It’s really important to have someone on your side who understands all the complexities.

12. Buying the Most Expensive Home on the Block
The most expensive house will only depreciate in value over time, rather than appreciate, which is what you want. Also, those houses are often not the first house to sell because they are usually overbuilt to the neighborhood. It’s absolutely critical that you research the neighborhood before you buy to find out what the price point should be.

11. Not Setting a Realistic Budget
Just because the bank pre-qualifies you for a loan amount of $400,000 doesn’t mean you can afford to make that payment every month. Before hitting the streets for a house hunt, you should sit down and make a monthly budget of what you spend every month. Come up with a number that you are comfortable spending on your mortgage payment, aside from those other expenditures. An easy way to do this is to take a third of your gross income and have that figure be the number you spend on the house. It is also a good idea to have six to nine months of mortgage payments in the bank, plus a little extra if you have any repairs that you might need to do.

10. Visiting the House Only Once
It’s important to visit a house more than once because the neighborhood itself may be very different, depending on the day of the week and the time of day. It’s also a good idea to go home and think about it, even sleep on it, before you go back again.

9. Not Being Pro-Active at Closing
The best thing to do when going into a closing is to get all the paperwork ahead of time. All that information should come from a mortgage broker or banker. They have what they call a HUD (Housing and Urban Development) One form that lists out all the charges, and you can legally get it in your hands 24 hours before closing. Schedule the closing for in the morning, so you have a fresh mind and plenty of time to go over everything and ask questions. The final walk-through is another imperative part of the process. You may want to have a home inspector accompany you.

8. Doing Major Renovations/Remodeling Before Selling
Minor upgrades usually have a higher return on your money than tackling major renovations before placing a home on the market. The main reason? Huge construction projects always cost more than you think they will, and they also take longer than you expect. The best place to spend money is outside. Research shows that increasing the curb appeal often returns the most value on your money. It’s what gets buyers inside the house, after all.

7. Skipping the Loan Pre-Approval Step
When you are pre-approved, the bank is saying, “we will give you a mortgage of up to this amount, so now all you have to do is find your home.” Some sellers only allow realtors to show their house if someone has a pre-approved letter. That indicates that the shopper really is serious about buying a home.

6. Falling in Love With the First Property You See
Many home buyers, particularly first time home buyers, fall into the trap of falling in love with the very first house that they see. You need to at least look at three more houses in the area to get an idea of what the comparables are in that price range. You want your realtor now to show you homes comparable to what you saw. At the end of the day, re-evaluate.

5. Buying a Home Without a Professional Inspection
There are a lot of things a home inspection can reveal about a property that are not visible to the naked eye. Be sure to hire someone that comes with a good referral basis, that’s been in the business a while and knows what to look for. Look up the American Society of Home Inspectors and get a list of qualified home inspectors in your area. Once you find an inspector, insist that they compile a written report, complete with photos. Photographs are important because there are areas a home inspector will go that you might not look at.

4. Overlooking the Extra and Hidden Costs
Buying a home is not just about the money that you spend up front; it’s about all the rest of the money you have to spend beyond that. Find out what the property taxes are, what your water bill might be and what a standard electric bill is in that home, especially if you have electric heat vs. gas heat. You also need to factor in furnishings you may need to purchase before you can move in.

3. Buying What You Want, Not What You Need
Look at the space that you are already living in. It will help you to realize what you have been missing and what you need in your next home. Make a list those of needs and then ask your agent to start shopping these needs. On average, Americans live in a house for about nine years. Remember, you can always trade up a few times before you find the ultimate home.

2. Setting Too High of a Sale Price
As a seller its really important to do your research, and in order to come up with your sale price, look up what comparable homes in your neighborhood have sold for. Figure out what the going price is and try to put yours right in the middle of that, unless you have something extra special to offer. It is always better to price a home sharply than to start too high and have to reduce. Once you reduce, it always looks like something is wrong with the home.

1. Failing to Showcase Your Home and Make Small Cosmetic Changes
When you are selling your house, you have to really look at it objectively and think about it from the viewpoint of the house hunter. Make minor enhancements to the house and maybe hire a professional stager to come and arrange your furniture. Staging is about decorating your house for the buyers’ taste, not yours. A great place to start is with the front of the home and the main entryway. Home staging is designed to increase the potential selling price and reduce the amount of time the house stays on the market.

As you can see, this is a valuable list for those seeking to buy or sell. It’s nice to see what the other side is thinking a little bit.

What experiences good and bad have you had in buying a home? I’ll be honest, I have been looking since January and I think that its probably never going to happen and I am going to just rent for the rest of my natural life as the process is outrageous.

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As many of you may remember from an early posts, my wife and I commute into work together. We do this not only because of the substantial cost savings of only operating one vehicle, but we do this because we only have one vehicle. Our little car has been through a lot, to say the least, but it keeps on trucking. Currently our 1995 Dodge Neon has approximately 166,000 miles on it and our goal is to get at least 200,000 miles on it. In order for this to happen, we need to put money into it, even when it’s not broke. Proper vehicle maintenance is neglected by nearly all car owners, but is essential to milk the most from them. Because the majority of us think proper maintenance is just regular oil changes, I have put below a basic schedule of proper maintenance (other than the normal oil changes) we should already be doing. Try to get your car up to speed this weekend, you won’t regret it.

15,000 Miles
Adjust drive belt tension.

22,500 Miles
Inspect the front brake pads and rear brake linings.

30,000 Miles
Lubricate the front suspension ball joints
Adjust drive belt tension.
Replace the air cleaner filter.
Replace the spark plugs.

45,000 Miles
Inspect the front brake pads and rear brake linings.
Adjust drive belt tension.
Flush and replace the engine coolant at 36 months, regardless of mileage.

52,500 Miles
Flush and replace the engine coolant if not done at 36 months.

60,000 Miles
Check and replace, if necessary, the PCV valve.
Lubricate the front suspension ball joints.
Replace the drive belts.
Replace the air cleaner filter.
Replace ignition cables.
Replace spark plugs.

67,500 Miles
Inspect the front break pads and rear brake linings.

75,000 Miles
Adjust drive belt tension.
Flush and replace the engine coolant if it has been 30,000 miles or 24 months since last change.

90,000 Miles
Check and replace, if necessary, the PCV valve.
Lubricate the front suspension ball joints.
Inspect the front break pads and rear brake linings.
Adjust drive belt tension.
Replace the air cleaner air filter.
Replace the spark plugs.

105,000 Miles
Replace the engine timing belt. $

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Main stream media occasionally drives me nuts. So many times on the Today Show, they go on and on about a certain topic, and then right at the very end, they call in an expert who very succinctly, and sometimes, even intelligently explains how the previous 15 minutes of terrible gloom and doom are actually wild fabrications from the truth and that there is really nothing to worry about. This happened this morning with water bottles and this post is not really about the wild provisions for plastic chemicals being unsafe, but about the frugality of buying bottled water compared to filtering it at home and reusing your own bottle, or other safe receptacle (like glass if you are really worried).

Cost of Bottled Water
First off, lets get a baseline for how much a bottle of water costs. We can see these in the store anywhere from 99 cents to $1.50. Annually, this country spends approximately $11 billion on bottled water, which amounts to about 70 million bottles a day. That’s quite a bit. Especially when you consider what you are paying for. Bottled water is something like 1,000% more expensive than tap water. Bottled water is also not anything special…it is simply filtered water thats been put into a plastic bottle. I wonder if I could get away with saying “bottle” one more time. Bottle. Ha! There I did it. But I digress…

So how much do you spend on bottled water each day? Some buy one per day which amounts to $300+ a year. Seems like a lot for just 12 or 20 ounces of water. how much is your water bill for your household? Including the bathroom activities, cooking and laundry I spend maybe $20-25 dollars a month. Keep in mind that that is for the whole residence!! We are definitely getting gouged on water from the bottling companies. What can we do offset these incredibly costs? What about filtering it at home? That is essentially what we are buying at home anyway…

Filter at Home
No one really wants to drink tap water, at least not on a regular basis. The first filtration company that comes to mind is Brita. You can either get the faucet filter or the pitcher filter. Right off the bat, the value is made apparent:

Faucet Filter – $34.95 and the cost per gallon is 25¢ per gallon.
Pitcher Filter – $24.95 and the cost per gallon is 20¢ per gallon.
(There are 128 fluid ounces in 1 gallon)

So if we are consuming what might be close to 3-4 bottles a week (a conservative average), we can crunch these numbers and see that paying by the gallon is a far more economical alternative compared to buying bottled water.

Alternatives
So are we suggesting that you strap a drum of water to your back and lug it around all day? Of course not. But if you can bring your own (safe?) bottle to work and take advantage of your employer’s obligatory water cooler, by all means do that. If you are in a place that does not have one, then maybe it might be time to pitch in with some co-workers and get a faucet or pitcher filter. Then again, maybe just drink tap water any way…the difference is technically negligible. Being a aquarium enthusiast and a chem minor, I can tell you that reverse osmosis is really the only way to get really pure water, outside of a chemistry lab.

Here are some alternatives to bottles as well:

Kleen Kanteen stainless steel water bottle w/ cap, 27 fluid ounces ($17.95;
www.kleankanteen.com)
MLS Stainless Steel Thermos Bottle, 1 liter ($22.16; www.mls-group.com)
Nissan Thermos FBB500 Briefcase Bottle, 1pt ($35;
www.coffee-makers-espresso-machines.com)
Sigg resin coated aluminum sport bottle, 25 ounces ($19.99; www.mysigg.com)
Platypus #5 polypropylene 2+collapsible water bottle, 2.4 liters ($9.95; www.rei.com)
Nalgene HDPE Loop-Top Bottle, 16 ounces ($4.53; www.nalgene-outdoor.com)

Consider these however as a one time fee and never waste your money on a plastic bottle that may, or may not make it back to a recycling plant.

Also, just so we are clear on the whole bottle safety issue: check the bottom of the plastic bottle in question and if it has a 3, 6 or 7 inside the recycle arrows, don’t use it. Normal soda and water bottles have a 1 there so they are ok. Supposedly. Some will tell you its bad, others will say, not so much, that the levels to be harmful are thousands of times lower than anything we could ever come in contact with. Do your own due diligence, and let us know what you think? $

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Every month we will gather up some of our most well received posts and quotes, in case they were missed as well as to give some financial highlights to consider for the month ahead. We will also discuss some of our sites traffic activity. Have you subscribed yet?

So this is our second month of “real” traffic on a “real” site. Things really got much better and our message has reached far more now that we have been more established on our own domain. The advantages of getting away from Blogger are pretty good although Blogger had some really nice attributes as well. I am able to better expand us graphically here however and we have more control.

Last month we received well over 3,500 visitors and had moderate subscription levels. Now let’s talk about March…

Visitors: 16,948

Page views: 39,844

Comments: 63

As a reminder, we do our best to post daily (before noon) and we encourage our readers to submit any financial questions that they would like discussed. You can ask us just about anything financially related and we will research and let you know the ins-and-outs, with the goal of milking the most from your money! Here is a quick list of some of the best articles for the month of March:

3/19/2008 Five Common Money Mistakes to Avoid
Here are five common mistakes that we want you to be sure you watch out for…

3/26/2008 Don’t Pay Interest on Items That Lose Value
New vehicles, vacations, credit etc…

3/18/2008 Your Economic Stimulus Rebate Check is Scheduled for Departure
What are the last two digits of your SSN? This is where you will find out when your check will arrive…

3/12/2008 Analysis of “The 11 Principles” by Money Crashers
A must read for everyone who would like to know the simplest principles for milking their money…

This is not an April Fool’s Joke…for that, check this out. And this. $

Real estate experts say that when you are shopping for a house, the three most important things to consider before buying is location, location, location. I recognize the truthiness of this, but working with the legal department at work has wore off on me, (on some unrelated IT matters) I feel the need to challenge some of the notions that go along with the importance of location.

Let us first define what we are talking about: location can mean a few different things to many different people. Some would say, it is the type of neighborhood you are potentially going to live in that matters, which is very true. On a grander scale, location also means how far away from work you are, which could either extend or contract your commute time, ergo your travel cost. I live near Washington DC, where there is an almost scientific inverse ratio relating the distance from DC and the cost of the average home. Naturally, the further we get from the nations capitol, the more affordable the homes are and the longer the commute.

Let’s first address the mass transit aspect. Its great for me and it doesn’t really matter where I go, the commute time will be insignificantly different. My girlfriend on the other hand, only has the option to drive and this is where the complications start to arise. We need to figure out if its cost effective to buy a home further out and tack more time onto our commute versus getting to and from work faster and paying for a smaller, but yet more expensive home.

So what is the difference? Further out, its about $100k – $150k cheaper, and 30-45 minutes (each way) more in commuting time. The homes have more land and are quieter and safer. But how much time would a person be missing out on? It would be safe to say about 2 hours a day. But the amount of money saved that could go either into the stock market, a Roth IRA, a money market, the house itself (to pay it off faster), the car (again, to pay it off faster; its losing value!) and just savings in general. It would be the epitome of living below our means. And it would be a wicked commute. What do you think? $