The ELEMENTS of money

Pocketful of music costs a pocketful of cash

I saw the latest Microsoft Zune (zunepass.net) commercial the other day and it claims that at $0.99 per song on iTunes, you can spend as much as $30,000 to fill an iPod. Now that’s a whole grip of money! With the Zune Pass, for $14.99 a month, you can subscribe to the service, which allows you to play music on up to three PCs and three Zune players for as long as you have your subscription. Then you also get to keep 10 of your favorite songs each month. But even this can set you back almost $180.00 a year. I even did the math and those ten songs you get to keep each month, they cost you almost $0.67 per song.

So before you buy into a service or purchase individual songs, consider some of the following tips to get the most out of your music:

•    Stream internet radio, it’s free and there’s lots of stations to choose from
•    Before buying music online, check out second-hand shops for used CDs, you might score a great deal on some tunes
•    Check out different resources online and compare prices, you may find that song or album for less somewhere else
•    Consider buying the entire album over individual songs, you will get more for your money that way

There’s lots of great music out there and lots of ways to load up your player, so check out your options and happy listening!

-Nayla

Determined to bypass “Flipping Burgers” … the update!

OMG!!!  I just found out that I may be closer to getting my iPhone than I thought I was!  Apple just announced today that they are reducing the price of the current model because they are coming out with a new version later this month. (You can see the prices here)

Now, this is where I have to put emotions aside and try to be smart about this decision.  This is an investment!  Do I go with the $99 current version, or do I keep saving for the new & improved one at $199?  

NEW? or ... CHEAP?!????  Help!

Here is what I’m thinking … I am already on my way to saving enough money, because I was counting on the phone costing me $199 anyway.  And, everyone always tells me that I should always buy “up” when it comes to technology … it gets outdated so quickly.

BUT …if I get the $99 version, I’ll have extra cash to play with! I can buy more apps, get my Paul Frank skin that I’ve been wanting ever since I saw it - AND, I might even have extra money left over for some new ringtones!

This is such a tough decision!  It seems like the $99 phone with all of the extras I wanted is a better deal.  But I am still so unsure!  Should I stay the course and continue to save … or do I quit while I am ahead and purchase the cheaper phone and SAVE the extra money instead of getting everything?!? Come on you guys … what do you think?  I need your opinions!

Kim

Determined to bypass “Flipping Burgers”!

This month, instead of sharing some crazy news story I found with you like usual, I am just going to tell you all about my current situation. I figure with any luck, you guys might be able to help me out with some suggestions (hint, hint)?

Summer is coming up. And I need a J-O-B, just like everybody else. It’s no secret that unemployment is crazy right now, and a lot of people are looking for work. So, this means I need to get really creative when it comes to money-making plans, because the more options the better. I’m on it now, because I decided that not reaching my “financial goal” by the end of the summer is NOT AN OPTION.

Why the desperation you ask?  Well, I admit I’m kind of an exaggerator (shhh, Nayla!), but here’s the truth: I want an iPhone. BAD. Seriously, I can’t take it anymore – it’s time for me to get one!!! And seeing how it’s not likely that one is just going to end up on my doorstep, I'm gonna need a big stack of cash to buy the iPhone, open my new account with AT&T … and buy all my apps and accessories! 

This is where you come in … can you think of ideas to help me make some extra $$$? Getting a job is the main plan, but I need backups. Here’s what I’ve done so far:

*Cleaned out my closet and hauled a big load off to Buffalo Exchange.
*Reunited with all my jewelry making supplies – time to put new items up for sale on etsy!
*Ran into my neighbor last week, and she told me that she & her husband are going on a cruise for their big 35th anniversary … guess who gets to watch the dogs and water the plants?  :)

 

I know there’s a lot more to do, so leave me a comment if you think of something! I’ll definitely keep you guys updated on my iPhone situation ...

Kim

Mama Mia!

Mama Mia!

Forget waiting 30 minutes for delivery… check out this new vending machine that makes pizza from scratch in less than three minutes! It actually whips up flour, water, tomato sauce and fresh ingredients into a hot pizza. The machine even has a little window so you can see the pizza being made. The average pizza is priced at about $6, but it costs $32,000 for the machine itself, which is 10 times the cost of an average vending machine. These are popping up around Italy, but hopefully we will start seeing them in the U.S. soon. And I thought buying an iPod from a vending machine was cool…

-Nayla  

The Cheapest Car in the world is coming …

Don’t take this as a bad thing, either!  The Indian car company, Tata, recently revealed that they will be coming out with a car that only costs $2000!  It’s going to be called the Nano, and it’s aimed at being a “value-for-money” car. Sounds about right  - that’s way cheaper than most used cars I’ve seen! 

Unfortunately, it’s not available in the U.S. just yet, but it’s surely on it’s way.

I think this is going to make a lot of new drivers pretty happy. I know there’s still insurance and gas to pay for, but that’s one auto loan that could be paid off pretty darn quickly! 

I think I’ll take my Nano in yellow:

Kim

Tip of the day: Cash

I love to eat out, I mean, LOVE it! And if you’re anything like me, you probably have a favorite spot where they even know you by your first name! But it’s no secret in this tough economy that more and more businesses are struggling to keep their doors open. I don’t know about you, but I would be bummed if my favorite pizza place had to close down.

So for those of you who support your local spots, there is a way to help them out even more: Don’t put your tip on your credit or debit card, try and leave a cash tip instead.

Card processors charge the restaurant a percentage of the total bill (including the tip) that you put on your credit or debit card. So your favorite restaurant may be paying up to two percent or more on tips, sales taxes and even to-go orders. But at the end of the day, they still have to pay out their servers the full tipped amount. So let’s say you leave your server a 20 percent tip on the card, the restaurant ends up paying out her share in addition to the credit card processor fee on top of that. And this adds up to more than the original 20 percent you left! In this economy, where every cent of profit counts, that can make a big difference. So give your hot spot a break and pay tips with cash!

Happy eating and until next time,
Nayla

The Great Bathroom Token in the Sky

Okay … I know we’re in financial crisis and all, but I found another crazy news story that just takes things to a whole new level!

Lucky for me, I am not usually flying anywhere from the UK, but the Irish airline RyanAir, is considering charging their customers to use the bathroom while on the plane! Don’t believe me?  Check it out!

Yeah, that’s right.  You will need a token to use the restroom if you’re flying from London to Lisbon … Dublin to Dubai … you get the picture.  Does anyone out there think this is as insane as I do? I guess RyanAir also figures they’ll also cut costs on the airline beverage service too … I have a feeling people won’t be indulging in as many of those free Dr. Pepper’s if they’re gonna need spare change to use the lavatory each time.

So – I guess that’s just another reason to save your money.  Who knows what the future holds, and what kinds of unforeseen charges they may bring?

Kim

Coachella-bound

The lights, the sounds, the bands, the crazy art sculptures and even crazier fans… yes, it’s time for Coachella once again!

Now, I don’t know about you, but saving up enough money to pay for a three-day pass is kinda crazy… And good luck convincing your parents that Coachella is “technically” an emergency and to hand over the credit card! Lucky for me, I had been saving up enough to go on one of the days and still have enough to buy a t-shirt.

As I was making the painful decision of “do I see Morrissey on Friday or The Killers on Saturday,” I found out that Coachella was offering a layaway payment plan for the three-day passes. They don’t charge interest or fees and all you have to do is pay the rest of it by April 1, which means more time to save up! I had never heard of this before and thought that this was way better than using a credit card. Not only would you have to pay off what you charged, but you would also have to pay more on the interest to borrow that money.

Nayla

Text Much?

I swear – texting is the best form of communication!  I will publicly admit it: I am a textaholic. We all know that there are just so many perfect reasons to text.  If you’re somewhere and you just can’t pick up the phone – you can text back. If you don’t know if someone is busy, just text them – and if they text back, it’s cool.  And of course if I have to get in touch with the parents, I can always text to let them know what’s up. My mom even knows how to text back! ☺

So, I know I’m not the only person who has learned the hard way about how much texting can jack up your phone bill!  And, I also know it’s no new news that all the other fun stuff we get to do with our phones (Twitter, Facebook …) can add up on the bill, too.  But now that there are so many people texting (yeah … like our parents!), cellphone providers are coming out with new and better plans.  I actually just found out that because I got my new messaging phone, I automatically got a few extra features that the rest of my family doesn’t have, even though we’re on the same plan.  So, if you haven’t taken a look at your plan in awhile, check it out.  If you’re on a family plan like me, definitely let your family know.  You could be saving money, or getting more for the money you’re paying now!

Speaking of someone on a family plan, check this out: This girl sent 14,528 text messages in a month!  Of course, her family had the unlimited texting plan, but if they didn’t, do you know how much they would’ve owed AT&T? $2,905.60!!!  

Kim

Let’s Go Back In Time

Hey there, I’m Nayla and I am a friend of Kim’s. She told me she was posting to this blog and after checking it out, I totally wanted to contribute too! I also joined my credit union recently and was really glad I did… I am fascinated by money, how it works and finding ways to get smarter about it. In fact, here is something that I thought was super interesting…

I saw a poll that said that 72% of Americans* think debt is a part of everyday life and that it’s difficult to avoid.  This made me think about debt and how it even became such a big part of people’s lives in the first place.

I was surprised to find out that debt has been around for hundreds of years… in fact, it has been around almost as long as money! And did you know that loans in America were only reserved for the rich upper class until 1928? Everybody else had to go to a loan shark or a pawn shop (and yeah, those were as bad as they sound!) It was during the Great Depression, that the working class was finally able to get a loan for a house or a car. But it wasn’t even until the 1950’s that the credit card was introduced! 

It was pretty cool to learn something new about money, especially about things so common, we don’t even think twice about it! So let this give you something to think on when you go for your credit card, car loan or school loan. All I can say is I am glad I can walk in to the credit union and bypass the loan shark!  

*www.bankrate.com

Nayla