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More ideas and news about making money, home or small business and working at home. |
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07 Jul
Posted by Andrew in News | Personal money | Products and Innovations
Quote source : Yahoo! Finance
Rising gas prices are inspiring drivers to find new ways of protecting themselves against future increases–including buying gas in advance and investing in stocks that tend to rise along with the price of gasoline.
One new company, MyGallons.com, lets customers buy gallons ahead of time based on the current prices in their area–in theory, locking in a lower price–and then redeem those gallons at a later date, regardless of any price increases in the interim.
At MyGallons.com, the company makes those investments itself. Founder Steve Verona says that the company protects itself against future gas price increases through taking positions in the stock market. That way, customers can enjoy the simplicity of purchasing and redeeming gallons for an established amount and avoid experiencing market fluctuations themselves. Verona says the company doesn’t plan to make money on gas, but rather from the annual membership fee (about $30), the interest float on the money that is paid before the gas is redeemed, and advertising on its website.
It looks tempting on the surface, what with fuel prices hitting an all time high everyday. People want relief and want it quickly. However what bothers me is the very volatility of the stock market itself. Obviously this is a question that comes to mind sooner of later and here’s what they say :
Of course, gas prices could come down, which could turn any of these investment ideas into losing propositions. As with all investments consumers need to be prepared to stomach volatility.
If prices do indeed fall, then what will happen to MyGallons.com customers’ prepurchased gallons? MyGallons says most people will simply hold on to them until prices go back up again.
But what if prices are currently at their peak and don’t go up again? They say that’s unlikely. “Very few analysts expect prices to come down…because current demand is increasing, while supply has stayed steady. We’re talking years, if not decades, before [proposed] solutions have any impact. In the interim, prices should continue to rise,” Verona says. He adds that if customers opt to drop out of the program, they can get a refund for their purchased gallons.
Now if rising fuel prices hasn’t already given you a scare, that last statement should. At the time of writing this post, oil prices have reached an all-time high of $144.00++. At the rate that it is increasing, it’s more than likely we’ll see it touch $200 by the end of 2008.
When (optimistically, I should say “IF”) that happens, I’d say MyGallons.com is going to be a very popular website indeed and we’ll see many similar services being set up in the near future.
For more answers to your questions about how this system works, visit MyGallons’ FAQ page.
Popularity: 15% [?]
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Quoted from : Chicago Tribune
Image from : Indie Business Blog
Unemployment can strike anywhere, at any time. And it’s striking more often.
The national unemployment rate in May had its biggest one-month jump in more than 20 years, rising a half-point, to 5.5 percent. If you’re one of those statistics—or might be one soon—you need to quickly assess your finances and take steps to weather a temporary loss of a paycheck. That includes immediately cutting your expenses, talking to your creditors and looking for a new job. What you don’t want is to spend months living off credit cards, getting way over your head in debt and ending up as part of another set of statistics—bankruptcy filings.
Assess your finances. This is why financial advisers are always nagging people to set up an emergency fund with enough cash to cover three to six months’ worth of living expenses.
Contact your creditors. Let them know as soon as possible about your situation. Creditors may be more willing to work with you if you haven’t fallen far behind in payments.
Start looking for work. Do it immediately, even though it may be emotionally difficult. Losing a longtime job is akin to losing a loved one. Grieve, accept it and move on.
Make use of any job training or placement assistance offered by your former employer or in your community.
Years ago, there was still such a thing as a “job for like”. These days, the almighty bottom line dictates whether you have a job or not. Having been laid off once and on the brink of another similar situation ten years later, I have come to the conclusion that however stable you think you job is, IT’S NOT.
So I believe that there are 3 things that everyone MUST consider doing while you DO have a job :
Popularity: 9% [?]
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Quoted from : Yahoo! News
Image from : Veritas77
If your paycheck is irregular, planning and budgeting are just as important as soliciting work, says debt counseling firm Money Management International. Here are some practical tips on keeping the cash flowing:
These are great tips for the self employed entrepreneur who’s just starting out in business and the money is coming in sporadically.
Basically, there is one simple way to learn all of the above - and that’s to get into the habit of saving. When you do that, you automatically limit yourself to spending only up to a percentage of your earnings and that’s really important if you are self employed. It’s a wise man who remembers that saying “To save your pennies for a rainy day” … because rainy days WILL come. I believe that as you get into the habit of saving and watching your pennies, you will tend NOT to want to charge stuff to your credit card.
Point #4 is a real important one. Credit cards can turn into a monster that will swallow you whole if you lose control. As far as I’m concerned, there are only 2 ways to use a credit card :
or
Popularity: 9% [?]
19 Jun
Posted by Andrew in Home business | Personal money | Videos
4 hour commutes. Bumper to bumper traffic to and from work. No time for breakfast. No money for lunch. Work overload. An ignoramus idiotus boss. Expert-in-passing-the-buck colleagues. Pay cuts. Cut benefits. Non paid overtime.
Sound like your life? Watch this video and tell me you don’t understand how the guy feels. With rising fuel and food costs and an ever shrinking salary, you gotta hope this isn’t a regular scene in our offices from now on.
Yeah… this is why EVERYONE needs a home based business!
Popularity: 14% [?]
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Quote source : abcnews
Image via : abcnews
Roll down your windows and turn off the A/C. Use premium gas. Fill up your tank early in the day.
As cost-conscious drivers gather around the ever-gouging gas pump, these are just a few of the oft-repeated tenets of fuel-saving wisdom. But according to experts, many of these so-called tips are mere myths. Gearheads from the American Automobile Association, Consumer Reports and “Mythbusters” helped us sort fact from fiction.
Your Friends Say: Air Conditioning Drains Your Gas Tank
Experts Say: It’s So Insignificant, You Might as Well Be Comfortable
One of the most commonly-heard myths touted by consumers and Manhattan cab drivers alike is that running the A/C drains your gas tank. Not true, according to Michael Calkins, the manager of approved auto repair at AAA — at least not on the highway.
According to Calkins, on the highway, both air conditioning and open windows affect fuel economy in similar ways: only about half a mile per gallon.
Your Friends Say: Buy Gas Early in the Day
Experts Say: Buy Gas When You Need It
Another common gas pump mystery surrounds the time of day to buy gas. The thinking goes something like this: As it gets hot, gas expands in the tank, so if you buy early in the day, you’ll get more bang for your buck.
Your Friends Say: Go for a Drive to Chill Out
Experts Say: Stress Reduces Your Fuel Economy by 50 Percent
“Mythbusters” co-host Adam Savage has made a living debunking gas-saving myths on his popular Discovery channel show. The only thing he’s found that really saves gas? Relaxing. In an experiment that will air in an upcoming show, the “Mythbusters” team found that people who drive while they’re angry use 50 percent more gas than people who are relaxed.
“The difference was absolutely astonishing,” Savage said. “You just use a lot more gas [when you're angry]. That has more of an effect on your fuel economy than any other single thing.”
I found the last one very surprising. Just imagine getting stuck in a 2 hour traffic snarl and your tempers flaring… worse, finding yourself in a jam with the nearest loo over an hour away! Now that’s gotta make you anything else but cool!
Read the full article to find more Gas Myths Debunked.
Popularity: 7% [?]
Terri Gault founder of thegrocerygame.com
Image source : The Grocery Game
Rising fuel costs are sending food prices to the sky. There just seems to be no end to the weekly budget juggling. You save a little here, you end up spending it over there. Left hand in, right hand out. But here’s a story on Yahoo! that might just help you on your way to saving lots of money for you and your family :
Source : Yahoo! Personal Finance
It tells of how two websites The Grocery Game and The Coupon Mom help thousands of its subscribers save money with coupons.
There may not be similar websites like these where you live, but the basic concept of saving money on groceries is still the same. You NEED to be aware of what’s a good deal and when it’s available.
I predict many of us will soon learn the game and be very good at bargain hunting. As fuel prices reach to the stars, go ahead and reach for your scissors and start snipping coupons.
Popularity: 10% [?]
