Over the years, the way we listen to music has changed dramatically. I remember my first Sony Walkman cassette tape player. I used to rock out to the Ninja Turtles soundtrack and Michael Jackson’s album Bad. While my tastes have evolved little, my method for listening to music has. (If you can’t pick up on sarcasm on the internet: that was sarcasm.)
My first CD was the Top Gun soundtrack. I still listen to the song “Danger Zone” when I am on a plane taking off. It makes me feel like a BAMF. I rarely buy CDs anymore. I just pre-ordered the new Linkin Park album, but for the most part, I have gone digital.
I got my first MP3 player in high school. It held a whopping 32mb, or about 5 songs. I learned about the incredible potential of music that does not skip when on a bike or running. I changed my five songs regularly, but it was not until I got my first iPod in college that my music collection began to expand.
In my college days, I used questionably legal methods to amass a collection of nearly 40gb of songs. My tens of thousands of songs could play for weeks without repeating once. I have still never listened to a big number of them. I keep my 60gb iPod full of songs.
Now, we are in a new age. There are two great online resources that I use for listening to music. These work on smart phones as well, but I use the PC based version. Those sites are Pandora and Grooveshark.
Pandora is the best resource I have found to discover new music. Pandora lets you create custom radio stations based on songs you like. I have found dozens of new artists and songs from Pandora. If you reach a song you don’t like, you can just click skip. You can only skip up to five songs at a time, but it is rarely a problem for me, as the site picks great songs consistently.
Grooveshark is the next generation of music, in my opinion. On the site, you can find virtually any popular song and create a music library for free. The site is ad supported, which you can remove for $3 per month (or a handy user script). I am amazed by the ability to start and stop any song I can imagine for free instantly.
How do you listen to music? Do you buy from iTunes? Do you get old fashioned CDs? Are you one of the proud and true that still keeps a vinyl record collection? Are you web based? Is there a better site that I have not seen yet? Please share in the comments.
In The Office, Michael Scott is the ultimate example of horrible personal financial management. He is a hilarious, obnoxious version of what not to do. His antics can actually teach us something about how to manage our money.
At one point, Michael was in a relationship with a woman named Jan Levinson. Jan, his former boss, was accustom to a certain lifestyle. That lifestyle involved spending a ton of money. Despite her unemployment, she latches onto Michael and influences him to live a lifestyle that he cannot afford.
While it is funny to watch Michael struggle through the situation, it is one that is very familiar for many people. Whatever the reason, living beyond your means is not sustainable.
Many guys have been drawn into a relationship where they feel that they have to spend a lot of money to impress the girl. I am no relationship expert, but even I know that is not a healthy relationship. Dating should be based on mutual respect and enjoying each other’s company, not money.
Michael has made other critical mistakes along the way. In one episode, Michael bought a new condo. Yes, it is a good idea to buy if it is the right thing for your situation. However, he got in too far without understanding the implications of the transaction.
If you are going to make any long term financial decision, such as buying a home or car, it is incredibly important to understand what you are doing. At one point, a string of bad financial decisions leads Michael to “declare bankruptcy.”
Michael is the reason I have a blog. He is a person that has a good, stable job. He should be in great financial shape. However, he lives beyond his means. He spends money that he shouldn’t. He enters into contracts that he does not understand. He is, simply put, horrible with money.
I really do enjoy watching The Office. I work in an office and enjoy the antics on the show. I can often relate to the situations the characters face. However, I do not look to any of them as an example of how to deal with my money.
CPR is an important life skill. I have been in a situation where knowledge of CPR was extremely important. That doesn’t mean that learning CRP can’t be fun, though. The video below is probably the best CPR training video I have ever seen in my life:
Marginal Revolution found one of the most intersting investments I have ever seen. A British chocolate store, Hotel Chocolat, is issuing Chocolate Bonds. The bonds cost $2,000 each and pay a 5.38% annual return. Your return, however, comes in the form of chocolate. Something they don’t teach you in accredited online schools.
Two values of Chocolate Bond will be issued: both with the return paid in monthly Tasting Boxes. Holders of a GBP 2,000 Chocolate Bond will receive six free tasting boxes a year worth GBP 107.70 per year, and those holding a GBP 4,000 bond will receive thirteen boxes, worth GBP 233.35 per year. Which comes down to a 5.38% return. After an initial term of three years, and on every anniversary thereafter, bond holders can redeem their bond for a full return of their investment. If they decide to continue to hold the bond, the monthly boxes will keep on coming.
Read about the whole deal at Springwise. Thanks to @JRideout for sharing this in his Google Reader feed.
I spent an hour or so last weekend at a nerdfest coin show. I have been collecting for about 15 years, so I have learned a thing or two about coin collecting over the years. My collection has had periods where it has grown quickly, and others where the only thing that has grown on it are dust bunnies. Over the years, though, it has been a fun and enjoyable hobby.
I have a confession. I love money. I don’t just love it in the sense that I like to see big numbers in my bank account, though I do, I love to hold stacks of cash and find rare gems when sorting through my pocket for change. In my six months working in banking, I found coins ranging from Buffalo Nickels and Silver Certificate dollar and two dollar bills to uncirculated Mint rolls of the newest US Presidential dollars. If you think that sounds interesting, coin collecting might be a fun hobby for you as well. This is a short guide meant to get you started.
Pre-Collecting
Before you get started, you want to get organized and ready for a big influx of coins. You will need a methodology to organize and track your collection. I suggest using Whitman Coin folders. They are inexpensive and durable and are the standard for coin collecting. Here is a list of what I would buy to start today:
1 cent – Whitman Lincoln Head Penny Book 2 and 3, which covers1941-2002
5 cent- Whitman Jefferson Nickel Book 2 and 3, which covers1962-2002
10 cent – Whitman Roosevelt Dimes Books 2 and 3, which covers 1965-2010
25 cent – Whitman Washington Quarters Book 3 and 4, which covers 1965-2000 and either Whitman 50 States and Territories complete quarter folder or State Quarters Volume I-III.
Coin Roll Hunting
Next, go to the bank and get rolls of coins. You can easily find 1 cent to 25 cent coins and the investment is not very large. Just open the rolls and find the coins you need. Place them in the folders for long term storage. If you find coins older or newer than your folders, you can either buy the folders to fill in or just keep them in coin collecting tubes or any other storage container you like.
Over time, I have expanded my collection to include many more books than the ones above, and I have started collecting 50 cent and 1 dollar coins as well. You can easily find dollar rolls at any bank. 50 cent rolls are more difficult to find, but some banks do have them and you can have them ordered if your bank is willing to do that for you.
You can pull great finds out of coin rolls and pocket change. The higher quality coins are more valuable. Quality means clean, not worn, and well defined. This is where the term “mint condition” comes from.
Expanding Your Collection
Eventually, you get to a point where you will want to buy more folders for the older and newer coins you have found. You may also decide that you are interested in more than just having a complete set, but want to have better quality and more rare coins.
Personally, I am a set focused collector. I want to have one of each coin and I care less about quality. I am not collecting as an investment; I do it because it is fun. Some people are looking to see the value of their collection appreciate.
To expand your collection beyond coin rolls, there are three popular options. Option one, the easiest for the web savvy, is eBay. I just got a 1981 Susan B. Anthony dollar set to complete my Susan B. Anthony dollar collection yesterday on eBay. Option two is to visit your local coin store. I know of three around South Denver, and any big city will have at least a few shops. Option three is visiting a coin show. There is a quarterly coin show here in Denver, and most cities, even small ones, will have a show at least once a year.
Having Fun Collecting
As you read above, I don’t do this for the money, I do it because I love money. I have fun building full sets of coins. I have one of every single penny Minted since the 1940s. I think that is pretty cool. I have one of each Eisenhower “Ike” Silver Dollar coin ever minted. I occasionally go to a coin show just to see the history behind each coin. I do get a little thrill from holding a coin minted before 1900. I am fascinated looking at Indian Head pennies, Buffalo Nickels, and Mercury Dimes that my great grandparents used when they were young children, but have since been phased out.
If you are looking to get started in coin collecting, I hope you enjoy this resource. I am also interested, though not actively involved, in scripophily, collecting financial instruments such as stock certificates.
In honor of tax day, I thought I would share a little wisdom I read on the wall of Jimmy John’s yesterday. Enjoy!
1. Never, under any circumstances, take a sleeping pill and a laxative the same night.
2. If you had to identify, in one word, the reason why the human race has not achieved, and never will achieve, its full potential, that word would be “meetings.”
3. There is a very fine line between “hobby” and “mental illness.”
4. People who want to share their religious views with you almost never want you to share yours with them.
5. You should not confuse your career with your life.
6. Nobody cares if you can’t dance well. Just get up and dance. (This one is very important.)
7. Never lick a steak knife.
8. The most destructive force in the universe is gossip.
9. You will never find anybody who can give you a clear and compelling reason why we observe daylight savings time.
10. You should never say anything to a woman that even remotely suggests that you think she’s pregnant unless you can see an actual baby emerging from her at that moment.
11. There comes a time when you should stop expecting other people to make a big deal about your birthday. That time is age 11.
12. The one thing that unites all human beings, regardless of age, gender, religion, economic status or ethnic background, is that, deep inside, we ALL believe that we are above average drivers.
13. A person, who is nice to you, but rude to a waiter, is not a nice person. (This is very important. Pay attention. It never fails.)
14. Your friends love you anyway.
15. Never be afraid to try something new. Remember that a lone amateur built the Ark. A large group of professionals built the Titanic.
16. Thought for the day: Men are like fine wine. They start out as grapes; and it’s up to the women to stomp the crap out of them until they turn into something acceptable to have dinner with.
Hi everyone. If the title didn’t give it away, today is my birthday. This twenty something is half way to thirty something. On February 4, 1985 at 9:02am central time, I was born. On February 4, 2010, I am excited to take advantage of the last birthday that comes with something new.
My car insurance, as a 24 year old guy, was about $125 per month. That is a lot of money. Even with good grade discounts and a good driving record, it is expensive to drive if you are a guy between 16 and 24. At twenty five, I am magically less likely to cause an accident. That means cheaper car insurance.
I ran through a quote program online last week and found that most insurance companies will lower my rate by over 30%. I will probably find something around $80 per month. That is a $45 per month, or $540 per year, in savings. That is a weekend vacation to the mountains in savings.
The only other perk of turning 25 is also car related. I can now easily find a rental car anywhere in the United States without paying extra fees for my age. Pretty sweet, huh?
What do I have to look forward to from here? Wrinkles? At least I know that many women think men look better with age. I am going for the Anderson Cooper or George Clooney look. Girls think they are attractive, right?
(P.S. I didn’t pick the Progressive girl from the ads for any particular reason. I just like her commercials better than the Gecko from Geico. I have a different insurance company.)
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The super famous finance bloggers like those at Wise Bread often create a weekly post linking to other super famous finance bloggers. However, I have found that some of the best ideas come from the future Ramit Sethi or the next Tim Ferris.
So, as we bring in the new year, I want to give you my shortlist of personal finance bloggers to watch. These are the up and comers that are making a splash in the online finance world. The rules to make my list: less than 10,000 RSS subscribers. In no particular order:
Stephanie is a personable recent graduate on the journey to pay off student debt and increase income. She gives a few useful tips and reviews every week that have inspired me to change a few things, and have made it to this blog on a few occasions.
I have been reading CML for quite a while now, and I am regularly impressed with Patrick’s insights into small business and the integration between your entrepreneurial life and personal financial life.
Fabousouly Broke is a feisty one, and she will hold nothing back. She is regularly giving her opinions on money as well as her personal fashion and food thoughts (which are more useful for the girls than for me.) Her finance insights have been developed through hard work in IT contracting, and it is interesting to read about life on a non-traditional income, including the ultra-frugal ways to stretch those dollars, US or Canadian, as far as possible.
Reading the Well Heeled blog, I feel like a real person is talking to me about real life. Well Heeled does not preach super frugal, she talks about being responsible and smart with your finances. (I am also jealous of her recent trip to Disney World.)
Frugal Trader seems to be doing quite well in his journey to a seven figure bank account. His balance of debt, equity, and investing is a great example for future investment gurus looking for help starting out.
After a little more than a year of personal finance blogging, I have plans to grow and help readers do more to put their financial lives on autopilot through taking advantage of great online resources while investing in an independent financial future. Stick around to learn more about the personal finance arsenal and great ways to save, earn, and invest. Please subscribe to the RSS feed or by e-mail if you have not already.
