E*Trade is Awesome

I need to save cash.  But when I run low in my checking I just dip my dirty hands right into savings.  So I've decided to open an online banking account.  I'm not sure why I didn't do this before because so far it's pretty awesome. Right now I'm earning .1% (WTF!) interest in my Chase money market account (aka savings).  E*Trade Complete Savings (my choice of online savings) is offering a whopping 3.3%.  That is basically CD interest rates!  All you have to do is go to E*Trade.com, sign up for an account and deposit at least $1, maximum $100 (for a day or two).  You have no minimum or fees, and free online transfers from any account.  In about 5-7 (which I'm still waiting on) you have your account.  Simple!  And you'll be earning WAY more money (33% to be exact), and it's a bit harder to get to when you really need to buy that new winter coat instead of X-mas presents for the fam (oops).  

And while your on E*Trade's site check out their checking accounts (offering 2.9% yield right now, as well as ATM refunds on any ATM when you get a debit card--hollar). You can also watch the cute baby TV ads.

Play the Stock Market - For Free

There is a new interactive website currently in it's beta stage that is totally worth checking out (although I'm still sort of trying to learn it). It's called WeSeed, and it's sort of like Sim City for investing. You are given 1 million (fake) dollars to start, and then you can basically just invest it and see what happens. Of course, the money isn't real, but the stocks you can "invest" in are, so you will see real live results when a stock goes up or down. A great way to get your feet wet in the stock market without losing any of that precious cash. Maybe once you kick all the other investor's asses on WeSeed, you'll have the confidence to earn some real money in the market.

Free Food (and other stuff) on Election Day

We've already established the fact we LOVE free things, this includes food and voting rights. So today, November 4th, Americans everywhere can celebrate a happy marriage of both.

Ben and Jerry's: Free scoop! Democracy never tasted so good. 5pm-8pm. Locations here
Starbucks: Free cup of tall coffee. If you care enough to vote, they care enough to give you a free cup of coffee. For the YouTube video click here
Chick-fil-A: Chick-A-Election Day. Supposedly you can get a free sandwhich today, although cannot confirm that.
KrispyKreme: Hot vote now. Get a free "I voted" sticker and a star shaped cookie!
Flu Shot: Who wouldn't want to vote yes on freedom and no on the flu! Find a clinic here
Babeland: Voting Feels Good. If you vote you can pick up a Maverick Sleeve (for him) or Silver Bullet Vibe (for her). New York and Seattle....I'm going for mine this afternoon. More info here

Well-timed Disaster

For people under 35 - or better - people with limited financial liabilities. So, no mortgage or kiddies.

[extra psychological boost if you start at zero sans trampled stock portfolio]

This is because the decline in investment valuations caused by the financial crisis potentially presents the greatest transfer of wealth in history from the cold (not) dead hands of baby boomers and beyond into those of younger generations. But that's only if you get smart.

Why? Because your pathetic paycheck (relative to someone 20 years your senior) is now roughly 5 times more powerful when it comes to investing. It's like you hand your broker a 20 dollar bill and he buys up a hundred dollars worth of beaten up blue chip stock (especially financials.) Pretend its a $100 Apple gift card that cost you $20. Sweet deal, right?


What's the first thing you need to do? Up your 401K. Its a downturn, damnit. Cut costs and turn up the volume on your investing strategy. Beer instead of cocktails, itunes instead of concerts. You are probably mostly in equities anyway so don't worry about bond/stock ratios.

Is the market at a bottom? Maybe, maybe not. What we know is that a ton of stocks are trading cheap and -for once- you can afford a fistful full of them. Attempting to perfectly time a market recovery is like using liquid liner - It should be left to the pros. Otherwise, you'll likely end up with a black eye.

So take a cue from Warren "Snowball" Buffet and be fearful when others are greedy and greedy when others are fearful.

Homework
Making the Most of Double the Investing Power

Actually Proud (!) to be an American

It may have been because it was 5:45am and I was sleep deprived, or because these have been a rocky past few months. Or maybe it was my contacts. But I found myself getting all chocked up (yes, I may have shed a tear) as I waited in line to vote this morning. Watching everyone from college kids to old men carrying chairs so they could sit waiting patently in an unorganized and way-too-long line, I came to realize that as a country we are, in fact, tied together. Even if half of us are jerks, we are all still Americans.

Now I know this sounds like a bunch of patriotic bullshit--which it is--but I actually feel this way and I can't believe it. I have never once felt proud to be an American, but today I can say I am. Let's hope for the best today.

VOTE

Screw the Lender, They'll Screw You

We are starting to see a new crisis on the horizon, and this time it's credit cards. Not surprisingly, American's have been borrowing way too much money and making dumb purchases they can't afford and credit card companies are screwed. Now that people are losing their homes and jobs, they can't afford to pay that money back. Credit card companies are are freaking out, and we're gonig to see some changes in how they lend us money. Miss one payment and you might see your interest rate skyrocket. (Or, it might skyrocket for no reason at all.) You shouldn't shouldn't even be carrying a balance on your card. But, if you have a lot of debt you might want to think about transferring over to a card with o% APR. The prices for transferring debt might go up to, so do it while you can!

Your credit score is actually going to matter now -- a lot. So now stuff like missing your payments or spending too close to your credit limit is a bit of a bigger deal. Wow, life isn't so fun when it starts getting serious.

$700 Billion, What?

If you still can't figure out what the heck went down on Wall Street over the past few weeks, you're not alone. The entire situation is complicated, and getting more so with Paulson's $700 billion bailout plan. So Terry Grossman, from one of my favorite NPR shows Fresh Air, brings on Wall Street guru Gretchen Morgenson from the NYTimes to help explain things a bit in layman's terms--I think she does a great job. The podcast can be downloaded for FREE here: The Wall Street Bailout: A Conflict Of Interest?

Ah, NOW I Get It

I usually have to wait until coffee cup No. 2 to start reading the business section of the NYTimes--I mean, do they really have to use such big words and complicated sentences? However, today there is a great piece explaining what the hell is really going on with the market these days. In English, Please beings with the question, "Can you explain this crisis in a way that it makes sense in layman’s terms?" For the full answer go HERE

Get Skooled

If you read CityBroke everyday and still don't feel like you're on top of your finance game, then take yourself back to school. Money U, that is. Money U is an online financial course for the young and unexperienced such as ourselves. You don't really get graded and you just play games. So it's pretty much just really fun (if you love personal finances as much as I do). It's little bit expensive, $180 for three courses. However, your ROI could over 100% if the course teaches you some techniques that will save you a few hundred bucks. Totally worth it. And who doesn't secretly really want to back to school anyway?

¿Dónde Estás Corazón?

The last time iSpend posted was on July 14th. I wish I could say this is because she has been doing some Deep Throat-style investigating into a really great CityBroke post, or she's been stuck in her fifth-floor walk-up in a body cast for the last six weeks. But, alas, I just saw her healthy as a lark the other day.

And, yeah, I realize I've been slacking, too.

iSpend...please come back to us!

Credit Card Extravaganza!

Want a really great time to waste time at work, but improve your financial life? Check out this new site, LowCards.com. The guys from LowCards have been kind enough to give us a schmorgusboard of credit card card facts--everything from interest rates to balance transfer fees--to gorge on all day long. And they are savvy enough to put all their info. into what every American likes best--a list! Check out their list of "best" cards for whatever it is you're looking for in a credit card relationship. I am still trying to find the "best credit card to get me a date"....any help here LowCards?

HAPPY FRIDAY SAVERS!

I Guess it's Good to Give, Too

After you've busted your ass saving your dollars, it's good to give a little back, too. A great place to donate money in any increment (seriously, even just $20) is Modest Needs. The goal of Modest Needs is to stop poverty before it begins by helping those in need avoid the slippery slope of going broke. You see who your money is going to, and for what. (For example, a new bathtub, or hospital bill.) And Modest Needs is totally legit, earning the highest possible charity ratings from both Charity Navigator and the Better Business Bureau's Wise Giving Alliance. Even if you're just giving to feel better about yourself, do it!

Sweet Surrender

Buy one get one free at Jamba Juice today! Go here for a free coupon -- you just have to enter your email address. I figured they would send the coupon to my email so I entered my correct address, but they don't! It just sends you to another page, so feel free to enter a fake email address. Find a Jamba Juice near you and have fun in those lines!

I Hate My New Credit Card

All our loyal readers out there (hello?) might remember my post on getting my first credit card. This was March 10, 2008, a mere five months ago. And I'm cutting it up. It's the devil!

(Ok, I'm not "cutting it up." I am, however, using a strategy my dad's friend told me about: Hiding it in a block of ice and keeping it in my freezer. And I'm not buying an ice pick...yet.)

How To: Create an Investment Plan

We're all growing up a bit (a bit), and eventually we need to develop an investment plan for ourselves. If you're not quite sure where to start, or need a definition of "investment plan," Vanguard has a handy little tool here which lets you create your own investment plan. Now, this is mostly hypothetical if you're like me and have 100% of your reserves in "short-term cash" (savings accounts). But if you think you may like to start investing in the market one day, this is a good way to understand how ballsy you'll be with your investments. When you can afford to make them, of course.

The Grey Hound Underground

I don't know many people who ride the grey dog, but with the economy the way it is - a resurgence is inevitable.

So I'm fooling around on the site and I see this "Neon" bit. It's a straight shot to Toronto from NYC and it's only $85. That's right. 470 miles for $85 bucks a head. That's what I call a recession-friendly roadtrip.

Time to look into Toronto hostels...

I'm in Bike with You

Want to save eighty-something dollars you spend on transportation each month? (I can't remember the monthly price of the subway these days, and I use TransitCheck anyway, so who cares.) Ride your bike. And if each time you hop on your bike to head to work you're terrified you'll find yourself riding the wrong way down a one way street and will get dirty looks, flipped off, and even beat up by other bikers, or will break some unknown-to-everyone-except-bike-messengers rule, than check this out! RidetheCity.com. It's kinda like HopStop for those of use who aren't lazy assholes. Plug in your beginning and ending point, and RidetheCity will map it out for you. Cool! It will tell you what streets are going the right way for you, and even how long it will take. (Although it says for me to get from home to office it should be 35 minutes. It takes me at least 50.)

Free Stuff on Your Birthday

Today is iSpend's birthday!

In light of this joyous day, I've found a great list of free stuff you can get on your birthday on Bargainlist.com. Enjoy! Now write iSpend some happy birthday wishes.

How to Score Free Stuff on Your Birthday

College Majors That Will (Probably Not) Get You Rich

Don't deny it--you totally picked your college major based on how much money you'll make after graduation. Well, if you don't want to take any risks choosing a poor man's degree, check out Forbes.com's piece on the Most Lucrative College Majors. #1? Computer Engineering. These nerdy kids are expected to make$60,500 after 0 to 5 years. Business management majors are expected to bring in $40,900 after 0 to 5 years (less than history majors, who I assumed where by nature always broke). So, basically I could make just as much as a business major by waiting tables, stripping or...majoring in creative writing.

Take that!

Are You Getting Ripped Off By Rent?

Do you breath oxygen? Yes, of course you probably are...but what is much more important (as stated in my post below) is if you're getting more ripped off than your neighbors. Well, now you can find out. Rentometer lets you plug in your apt number and zip code, and then shows you were you fall on a scale of what everyone else is paying. Probably not totally accurate, but still really fun!

Are You as Financially Savvy as your Friends?

Charles Schwab offers a pretty cool "Peer Comparison Tool" (which I always thought was when you spot a girl with a huge ass and ask your friend if yours is smaller) . They ask you 10 questions like do you invest in a 401(k) (81% of kids 25-29 don't...wow...) and then show you how you rank comparatively. And the responses to your questions are surprisingly human. When I said I have no debt, they responded, "Wow, no debt at all? That's great!" As if they didn't believe me...But, really, it's an interesting site, so go ahead and see if you're as smart with your investments as the rest of us (with kids these days stakes aren't too high).

Enjoy, you savvy spenders!

Politics Just The Way I Like I Like 'Em - Light and Pointless

New York Magazine has outdone itself with its Electopedia 2008. It has a bunch of little lists/featurettes that someone as politically jaded, yet topically interested, as myself can enjoy.

It's a pure delight filled with happy hour fodder including how candidates did in school, their biggest lie, most amusing youtube video, and their hairstyle and its evolution.

Nice journalism guys. Seriously! Keep it base - keep it real.

"In times of change learners inherit the earth; while the learned find themselves beautifully equipped to deal with a world that no longer exists."

-Eric Hoffer

Zen Master On Saving Money

Zen Habits shares the 10 ways he saves money.

The dude has six kids and doesn't ever go out or travel, but he does have a few good ideas. On his site, he goes into greater detail about his spartan ways.

I've always wanted to cut my own hair...

1) I cut my own hair. Annual savings: $580.

2) No Cable TV. Annual savings: $780.

3) Became vegan. Annual savings: $900.

4) Don’t use the gym. Annual savings: $420.

5) Rarely go to the movies. Annual savings: $780.

6) Quit smoking. Annual savings: $1,825.

7) Don’t drink much. Annual savings: $800.

8) Never go out. Annual savings: maybe $500.

9) Stay healthy. Annual savings: probably $1,200.

10) Don’t go shopping. Annual savings: probably $2,600.

11) Have only one car. Annual savings: unknown, but perhaps $5,000.

12) Bring my own lunch. Annual savings: $1,800.

13) No magazine or newspaper subscriptions. Annual savings: $360.

14) Rarely buy new clothes. Annual savings: maybe $400.

15) Never travel. Annual savings: $1,500.

16) No more lattes. Annual savings: about $1,000.

Estimated total savings: $20,445.

(city) Broke Back

Much like Jay-z, I'm back, again, for good, until I'm not again.

But seriously, I am sorry (Marshall) for being a deadbeat. I will try (for you) to be more prolific. Feel free to comment with any special requests for content type. **And no. That type of content is not allowed (Marshall)

Cold Air, Worth It.

As tight-fisted as I can be, I broke down and bought a new AC on the 2nd day of summer. Not installed yet, but I slept like a baby knowing that a 56 pound Haier AC rested on the floor near my bed.

The challenge is now getting the thing in the window (?) without losing any fingers or letting the chunk of mettle fall 5 floors to the sidewalk below. I'm not very good with directions and I don't know any AC wizards so I'm open to suggestions.

I wonder if putting the thing in its place will end up costing me more money.

Oink! Oink!

You may have seen some ads on T.V. for a new site called feedthepig.org (they are pretty hilarious) featuring an actual dude dressed like a pig named Benjamin Bankes (who is so hip he has a MySpace page). Well, I checked the thing out and, beyond have a great name, it's actually pretty useful. It's all part of a campaign by the AICPA called 360 Degrees of Financial Literary designed to help you start saving at any stage of your life, and have simple articles like Establishing a Budget - wow, so easy!

But my favorite part of personal finance sites - the calculator - is way cool on feedthepig. For example, check out the lunch calculator (if you spend $10 on lunch every day after 4 years you'll have spent about $7,500 - DAMN!)

And when you visit be sure to keep your sound on...

401 Frenzy

A little bird gave me this and I find it very helpful so see why you're so screwed if you don't starting investing in your 401 NOW. Have a nice day!

Compound and Compare

Contributing regularly to your investments can make a big difference in your future savings. And with compounding—or earning “interest on interest”, the growth of your funds may be accelerated in later years. The table below shows how an investment account can grow depending on the length of time you invest, and the amount you contribute annually.

Investing until age 65 from	$2,000 annually (approximately $167 monthly)	$4,000 annually (approximately $333 monthly)	$8,000 annually (approximately $667 monthly)
age 30	$360,111	$718,066	$1,438,287
age 35	$236,741	$472,065	$945,548
age 40	$152,778	$304,642	$610,198
age 45	$95,634	$190,696	$381,964
age 50	$56,743	$113,146	$226,632
age 55	$30,274	$60,367	$120,916
age 60	$12,260	$24,447	$48,967

The figures assume an 8% annual rate of return and tax-deferred growth. The chart is for illustrative purposes only, and does not represent the performance of any investment.

Eating Competition

Ok, so want to save a ton on groceries? Put yourself up to the challenge of eating everything you have in your apartment (obviously not including spices and stuff) before you do any grocery shopping. A few positives result from this: 1) you won't buy things at the store you might not love, 2) you're not wasting food by letting it spoil (what a green move!), 3) honestly, you'll find you can go about a week longer than normal before you buy groceries. I think I have about three more days until I've eaten all my food and can go shopping again. Last night I found frozen corn and peppers in my freezer, so I sauted it with chickpeas I found in my cupboard - it was great! Tomorrow I think I'll be hitting the last stretch with PB&J.

Are you up to the challenge?

How do you work this thing?

So I finally got a credit card (yay!) and I've actually been using it (although it gives me an abnormal amount of anxiety). But now I've stumbled upon a problem. I have no idea how to pay off the damn thing. Seriously. I literally cannot seem to figure out how to settle the balance! Supposedly I have $300 on the card, and it shows this balance on my online account, but when I click "pay balance", it says I don't have a balance.

This is driving me insane. Does this mean everything I bought was free? If so, this is the best card ever!

Happy memorial day weekend!

Free Ice Cream from our Favorite Hippies

Tomorrow is one of my favorite days of the year - it's Ben & Jerry's free cone day! To celebrate the birthday of every stoner's best friend, on April 29th each year participating Ben & Jerry's give away one free cone of your choice. It appears they are turning 30 this year - so light one up and check out locations here. And while you're on the website kill some time playing an awesome birthday game, or upload a message of peace on their random-but-just-sort-of works John Lennon tribute page.

When I Was Your Age...

My first job was in 8th grade as a referee for 5-year-old soccer games. It was zone soccer (you know, where the field is separated into little squares resulting in way less exerted energy than real soccer), and I was paid about $8/hr. Now, kids find their first job on sites like www.MyFirstPaycheck.com. Tutors wanted for "Ivy bound" - apparently the WASPiest tutoring company around - can make between $30 and $50 an hour - what?! That's about what I'm making right now. Thanks a lot, mom and dad, for totally ripping me off paying me 5 bucks to wash the car. Now I clearly don't value myself high enough. So, those of you reading this who are unfortunate enough to have a teenager (or I guess maybe you are one), this is a great site as long as you live in the New York, D.C. or Philly area.

Free Music/Party With College Students

The annual Culture Shock festival that takes place each year on the SUNY Purchase campus is scheduled for next weekend, April 15 and 16. I have never heard of this before but it looks interesting and I totally would to go, but I now live in Real Life and don't have the luxury of getting wasted in the middle of the week anymore (well, at least not during the day...well, at least while not sitting at my desk during the day). The impression I get is that Culture Shock is like Bonnaroo meets your local county fair. Pretty good music with a bunch of semi-hippy/rich New Jersey/New York college kids running around. But, best of all, it's FREE. Bad news is you have to have a car or be willing to take the Metro North outside of the city limits (gasp!) to a strange place with green things called grass and trees grow. Some of the musical highlights are Atlas Sound (dude from Deerhunter) and Deerhoof. For the full line-up and directions go to BrooklynVegan.

Rich Folks Follow Our Lead

It turns out that shoppers who can afford couture are flirting with "fast fashion," or cheap look alike threads found at H&M and Topshop - places that we frequent.

It turns out, the stuff we buy looks sweet enough to go with a $6000 handbag and $800 pair of heels. Lauren Sherman breaks it down.