Money saving on auto parts
Mar 28, 2010     post this at del.icio.uspost this at Diggpost this at Technoratipost this at Furlpost this at Yahoo! my web.

Looking to save some money on your next automotive repair, then try and avoid automotive dealerships and look for your parts through other means such as online retailers, for example if you were looking for nissan accessories for your new pathfinder then you can goto the dealer and pay retail prices or try an online car parts e-store, one that I like to check out for parts and accessories would is Car ID they carry most major brands if not all them and provide loads of tips and resources for the car junkie.

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Methods Of Saving Money
Dec 24, 2009     post this at del.icio.uspost this at Diggpost this at Technoratipost this at Furlpost this at Yahoo! my web.

Saving is basically putting aside money or a way to utilize your present income for future use.

One saves for several reasons such as for a college education, buying a new car, for a new TV set you wish to acquire in three to four months time, for down payment on a home, or to provide for yourself when retirement comes.

As much as there are several reasons for saving, there are likewise many methods in which one can save. In most instances, the best method can be determined by whatever plans you have for the future.

1. Savings accounts. When saving for just a short period or for emergency purposes, consider opening a savings account passbook, as it is in this method that you can easily gain access to your funds.

Great for both long and short term savings, you can deposit and withdraw money to your account and earn interest, based on your average daily balance. A minimum balance is required to be maintained though, and you are charged with a penalty should you fail to maintain it.

2. Checking account with interest. Here one can benefit from checking account conveniences, while your deposits gain interests. Generally these types of accounts grants privileges such as limitless withdrawal and check writing, access to ATM and bill payments that can be done online.

This method typically requires a daily maintaining balance of at least $2,000.

3. Money market insured accounts. For long-termed goals, this method is ideal, as it generally offers a much higher rate of interest compared to a regular or standard savings account.

The interest rate usually is dependent on the amount of money in your bank account; larger balance means higher interest.

4. “CD” or Certificates of Deposit. This is a savings method requiring you to “loan” your money to your financial agency for a certain time frame, usually ranging from thirty days up to five years. Here, the longer the time span again, means higher interest.

Keep in mind that usually insurance companies offer better deals on interests compared to banks, so before you invest, compare rates first!

At certain times, when your goal is many years away, it can be a wiser decision to save money in a certain way that you are not drawn on using it other than the main reason for saving it. Deciding on the right financial agency such as a bank, credit union or insurance firm can bring about a lot of benefit in your finances.

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11 Dumb Ways to Get in Debt
Sep 25, 2009     post this at del.icio.uspost this at Diggpost this at Technoratipost this at Furlpost this at Yahoo! my web.

There are many reasons why people fall in debt, such as medical issues, school, starting a business and purchasing a home. Some situation you do not have much of choice and the debt is for a good reason, for example if you get in debt due to school it’s fine because in the long run you will be able to make up for it. However there are some bad reasons why many fall in debt, the list below illustrates the top 11 …well not so good reasons to fall in debt.

1. Leasing a Car – You are basically paying several hundred dollars per month in leasing only to return the car after a few years. After spending tens of thousands of dollars what do you have to show for it?

2. Purse and Shoes obsessions (or any other obsession for that matter) –Unless you are purchasing collectible items that increase in value, this is a pretty dumb way to get yourself in debt.

3. Financing a Car – If you can not afford that $50,000 car why do you think you can afford to finance it? A car loses about 25% of its value as soon as it is driven off the lot. You will be stuck making payments for the next 5 years or longer on something that is losing its value faster …than Wall Street came down.

4. Using Credit Cards – So you want something you can’t afford, you put it on the credit card only to pay 19.99% interest on the item. Now the $150 purchase ends up costing you over $300 in a year. Smart!

5. Financing latest gadgets – If you can not afford the newest Apple Macbooks and other electronic gadgets, not a problem, Best Buy will finance it for you! Now you can enjoy the latest gadgets for the next year and pay for it for the next five years. Three times what it was worth, GREAT DEAL!

6. Having expensive hobbies – Hobbies tend to become money traps. We can’t afford to blow money on all of our hobbies, so we usually pick our favorite one (at the time) and waste all of our money on that. (Collecting comic books, DVDs etc)

7. Spiraling debt – You decided to take the great Best Buy financing offer for the newest LCD HD 52” TV, since you are at it why not get the newest Blue ray player with that….oh and do not forget the home theatre system……oh and the DVDs….etc…and the debt keeps growing …the spiraling debt!

8. Giving family and friends a loan or co-signing for a loan – Want to ruin your relationship with a family member or friend? Just give them a loan or even better co-signing for a loan, not only will you get rid of them but you will be left with a nice chunk of debt as a thank you.

9. Upgrading stuff. Why don’t you just upsize your fries and drink for 58 cents? What’s another $2/month to get the VIP gym membership? If you are already going to spend $200 on a cell phone, what’s another $100 to upgrade to a better one? And another $5/month to get 100 more minutes on your cell phone plan? Little things add up!

10. Playing the lottery or gambling – You are more likely to get hit by a lightening than winning the lottery…and that’s all I have to say for this.

11. Rent-to-own furniture and appliances – You can’t afford a brand new leather couch? Just Rent-to-own it! You don’t have $1000 in cash but you can do $100/month for the next 3 years. What a great deal!

SOURCE: http://financialhighway.com/11-dumb-ways-to-get-in-debt/

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World's Billionaires 2009
Mar 12, 2009     post this at del.icio.uspost this at Diggpost this at Technoratipost this at Furlpost this at Yahoo! my web.

It’s been a tough year for the richest people in the world. Last year there were 1,125 billionaires. This year there are just 793 people rich enough to make our list.

The world has become a wealth wasteland.

Like the rest of us, the richest people in the world have endured a financial disaster over the past year. Today there are 793 people on our list of the World’s Billionaires, a 30% decline from a year ago.

Of the 1,125 billionaires who made last year’s ranking, 373 fell off the list—355 from declining fortunes and 18 who died. There are 38 newcomers, plus three moguls who returned to the list after regaining their 10-figure fortunes. It is the first time since 2003 that the world has had a net loss in the number of billionaires.

The world’s richest are also a lot poorer. Their collective net worth is $2.4 trillion, down $2 trillion from a year ago. Their average net worth fell 23% to $3 billion. The last time the average was that low was in 2003.

Bill Gates lost $18 billion but regained his title as the world’s richest man. Warren Buffett, last year’s No. 1, saw his fortune decline $25 billion as shares of Berkshire Hathaway (BRK) fell nearly 50% in 12 months, but he still managed to slip just one spot to No. 2. Mexican telecom titan Carlos Slim Helú also lost $25 billion and dropped one spot to No. 3.

It was hard to avoid the carnage, whether you were in stocks, commodities, real estate or technology. Even people running profitable businesses were hammered by frozen credit markets, weak consumer spending or declining currencies.

The biggest loser in the world this year, by dollars, was last year’s biggest gainer. India’s Anil Ambani lost $32 billion—76% of his fortune—as shares of his Reliance Communications, Reliance Power and Reliance Capital all collapsed.

Ambani is one of 24 Indian billionaires, all but one of whom are poorer than a year ago. Another 29 Indians lost their billionaire status entirely as India’s stock market tumbled 44% in the past year and the Indian rupee depreciated 18% against the dollar. It is no longer the top spot in Asia for billionaires, ceding that title to China, which has 28.

Russia became the epicenter of the world’s commodities bust, dropping 55 billionaires—two-thirds of its 2008 crop. Among them: Dmitry Pumpyansky, an industrialist from the resource-rich Ural mountain region, who lost $5 billion as shares of his pipe producer, TMK, sank 84%. Also gone is Vasily Anisimov, father of Moscow’s Paris Hilton, Anna Anisimova, who lost $3.2 billion as the value of his Metalloinvest Holding, one of Russia’s largest ore mining and processing firms, fell along with his real estate holdings.

Twelve months ago Moscow overtook New York as the billionaire capital of the world, with 74 tycoons to New York’s 71. Today there are 27 in Moscow and 55 in New York.

After slipping in recent years, the U.S. is regaining its dominance as a repository of wealth. Americans account for 44% of the money and 45% of the list’s slots, up seven and three percentage points from last year, respectively. Still, it has 110 fewer billionaires than a year ago.

Those with ties to Wall Street were particularly hard hit. Former head of AIG (AIG) Maurice (Hank) Greenberg saw his $1.9 billion fortune nearly wiped out after the insurance behemoth had to be bailed out by the U.S. government. Today Greenberg is worth less than $100 million. Former Citigroup © Chairman Sandy Weill also falls from the ranks.

Last year there were 39 American billionaire hedge fund managers; this year there are 28. Twelve American private equity tycoons dropped out of the billionaire ranks.
Blackstone Group’s (BX) Stephen Schwarzman, who lost $4 billion, and Kohlberg Kravis & Roberts’ Henry Kravis, who lost $2.5 billion, retain their billionaire status despite their weaker fortunes.

Worldwide, 80 of the 355 drop-offs from last year’s list had fortunes derived from finance or investments.

While 656 billionaires lost money in the past year, 44 added to their fortunes. Those who made money did so by catering to budget-conscious consumers (discount retailer Uniqlo’s Tadashi Yanai), predicting the crash (investor John Paulson) or cashing out in the nick of time (Cirque du Soleil’s Guy Laliberte).

So is there anywhere one can still make a fortune these days? The 38 newcomers offer a few clues. Among the more notable new billionaires are Mexican Joaquín Guzmán Loera, one of the biggest suppliers of cocaine to the U.S.; Wang Chuanfu of China, whose BYD Co. began selling electric cars in December, and American John Paul Dejoria, who got the world clean with his Paul Mitchell shampoos and sloppy with his Patrón Tequila.

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Electric bikes selling briskly as gas prices climb
Aug 15, 2008     post this at del.icio.uspost this at Diggpost this at Technoratipost this at Furlpost this at Yahoo! my web.

The surging cost of gasoline and a desire for a greener commute are turning more people to electric bikes as an unconventional form of transportation. They function like a typical two-wheeler but with a battery-powered assist, and bike dealers, riders and experts say they are flying off the racks.

Official sales figures are hard to pin down, but the Gluskin-Townley Group, which does market research for the National Bicycle Dealers Association, estimates 10,000 electric bikes were sold in the U.S. in 2007, up from 6,000 in 2006.

Bert Cebular, who owns the electric bike and scooter dealership NYCeWheels in New York, said his sales are up about 50 per cent so far this year over last. Amazon.com Inc. says sales of electric bikes surged more than 6,000 per cent in July from a year earlier, in part because of its expanded offerings.

Sales rise in Netherlands, Germany

They’re even more popular in Europe, where Sophie Nenner, who opened a Paris bike store in 2005, says motorists boxed in by traffic jams are looking for an alternative for short journeys that doesn’t involve navigating overcrowded transport systems.

Industry associations estimate 89,000 electric bikes were sold in the Netherlands last year, while 60,000 power-assisted bikes were sold in Germany.

The principle behind electric bikes is akin to that behind hybrid cars: combine the conventional technology — in this case, old-fashioned pedaling — with a battery-powered motor.

The net result is a vehicle that rides a bit like a scooter, with some legwork required. Most models have a motorcycle-like throttle that gives a boost while going up hills or accelerating from a stop. On some models, the motor kicks in automatically and adjusts its torque based on how hard the rider pedals.

“Fifty per cent of that increase is probably because of gas prices, and the rest is that there’s just more bikes out there,” said Cebular, who has run his shop on Manhattan’s Upper East Side for seven years. Improved technology also has made electric bikes more popular, Cebular said.

“When I started, there was only one bike that had a nickel-metal hydride battery — everything else was lead-acid and was 80 or 90 pounds,” he said. “That’s a huge improvement.”

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