justsqueakingby.com

Helping The Environment And My Wallet

Apr 20

Posted by JSB in Automobile, Bicycle Commuting | No Comments

With gas prices nearing $4/gallon in my area, I’ve decided to start riding my bike to work. Commuting to work on my bike will cost me a bit up front, but in the end it should save me quite a bit. To make the commute faster, I’ve traded in my knobby tires for a pair of street tires ($30/tire). The only other thing I need to get is a rear rack and a bag. I figure that those two items will be an additional $60.

If all goes as planned and the weather cooperates, I should be pedaling to work 3 times per week. At that rate, I’ll only have to put gas in my car every 6 weeks or so, instead of every two weeks like I do now. The time between oil changes will also be increased, saving me even more money. A great side effect is that my fitness will improve.

I’ll provide some more info after my first ride. It should be an exciting time. Stay tuned…!

Tags: bicycle, bike commuting, commuter tire, cycling, environment, mountain bike, ride to work, work commute

New Personal Finance Books For The Library

Apr 15

Posted by JSB in Library | No Comments

I’m in the process of building up my collection of personal finance books. My most recent purchases include:

The Intelligent Investor by Benjamin Graham

The Essays of Warren Buffet: Lessons For Corporate America by Warren E. Buffet

I know that books were on J.D.’s list of Ten Things You Shouldn’t Buy New, but I was unable to find these two books anywhere. Plus, I’m sure that I’ll read them more than once.

Before my wife and I moved in November 2006, we frequented a few different used book stores. However, since the move, we’ve been unable to find anything comparable. So it seems like we’re left with only a few options: Library, Big Box Bookstore and Internet. This time around I went with the Internet and Amazon.com. They had a great deal on these two books and free shipping.

I’ll pass along any interesting lessons from either book.

Tags: amazon, benjamin graham, bookstore, intelligent investor, Library, personal finance books, warren buffet, warren buffet essays

The Deadline Has Been Met

Apr 14

Posted by JSB in Self Employment, Taxes | No Comments

I finished my taxes tonight! They will be mailed out tomorrow, and that will be that. A few thoughts about my 2007 taxes.

Having a CPA do my taxes was worth it (got some very good advice).
Estimated tax payments would prevent year-end headaches.
Writing large checks to the government isn’t fun.
E-filing is way easier and better for the environment than printing and mailing in forms (next year I will be e-filing).

Tags: 2007 taxes, checks, federal goverment, Internal Revenue Service, IRS, state government

Why Do Some People Choose To Pay A Premium For Gasoline?

Apr 9

Posted by JSB in Automobile, Saving Money | No Comments

I’m not sure what’s going on these days. I drive past a particular local gas station every day and continually see lines at each of the pumps. It’s not surprising to see people filling up, but it is surprising that they’re doing it at this particular station. After checking Gas Buddy, I know for a fact that they have the highest prices in the area. A quick search shows that another station 5 blocks away sells gas for about 18 cents/gallon less. For the life of me, I can ‘t figure out why people would pay so much for gas when a cheaper option is just down the road.

Perhaps some people don’t enjoy saving money. You’ll find me driving the extra 5 blocks to save a little money.

Tags: cheap gas, expensive gas, gas buddy, gas stations

Nobody Likes Owing Money To The IRS

Apr 7

Posted by JSB in Self Employment, Taxes | No Comments

IRS Cartoon

I stopped by my CPA’s office this morning to pick up my taxes. Unexpectedly, I owe $3,800 to the feds and $500 to the state I live in. At the beginning of 2007, I changed my withholdings with the expectation of offsetting the taxes I would owe. It appears those changes didn’t do as much as I expected them to. I did a few rough calculations before sending my paperwork and tax-related materials off to the CPA and my math showed that I would owe very little, if anything. I must have miscalculated or forgot to include something. To be sure, I checked over the forms tonight when I got home from work and they all appear to be correct.

This is not the first year that I’ve owed a sizable amount to the IRS. Although I have the money to pay the taxes, it still hurts a little to part with it. The main reason I end up owing each year is due to the income I make on the side from Web development work and several Web sites I run. I could lessen the sting each April by making quarterly payments, but I’d rather make the money work for me during the year in a high-yield savings account. I may have to rethink this strategy.

I need to make some time to meet with my CPA to see what steps I can take to reduce my tax bill in the future.

If anyone out there has some tips or ideas, I’d like to hear from you.

Tags: 2007 taxes, federal government, federal taxes, IRS, quarterly payments, state taxes, tax bill, Taxes

Are Customer Complaints A Worthy Measure Of How Good a Bank Is?

Apr 3

Posted by JSB in Banking | No Comments

I was just reading an article over at MarketWatch about the best and worst banks in the US based on customer complaint data. The article doesn’t really dig deeply into any of the data provided. It just provides an overview of total complaints – it’s not broken down by division or in any other meaningful way.

It’s quite obvious that larger institutions receive more complaints than smaller institutions. A better measure of the complaints might be – 1 complaint/1000 customers. At least this ratio would give some perspective.

Here’s the data:

10 national banks with largest number of complaints in 2007

Bank	Number of complaints	% of total
Bank of America	7,230	25.5
J.P. Morgan Chase	4,890	17.3
Citigroup	3,742	13.2
Wells Fargo	2,695	9.5
HSBC North America	1,963	6.9
Wachovia	1,265	4.5
U.S. Bancorp	1,027	3.6
National City	586	2.1
The Royal Bank of Scotland Group	537	1.9
Key Corp	343	1.2
Total Top 10 complaints	24,278	85.7
Total complaints	28,316	100

I’m a customer at Bank Of America and have always received great service from them. On several occasions I have called them and always received prompt service and accurate answers. When I’ve needed changes to my account, they have been completed accurately and in a timely manner. I have no complaints. My personal list of best banks has Bank of America at the top of it.

Would the above data influence you to do business with one bank over another? Based on your experience, are these numbers right?

Tags: best and worst banks, customer complaints, customer satisfaction, national banks

Three Tips to Stay Focused and Keep Your Eye on that Financial Goal

Apr 2

Posted by JSB in Saving Money | No Comments

Saving money can be a pretty boring activity.

I’m reminded of this often. Every time I visit my parents, they ask the same question: “When are you buying a new car?” My car might be aging – 1999 Honda Civic, 178,000 miles – but it runs well and has been paid off for nearly seven years. Buying a new car to replace my well-running older car is not in my immediate financial plan. I tell this to my parents and I’m pretty sure they think I’m being cheap. I’ve explained to them that my wife and I are saving money to buy a house. Even so, the inevitable car question comes up when we see them. It’s getting old, but I just shrug it off now.

I was reminded again today when I found out that my sister-in-law and her husband are buying a house. They’re picking up a two-story house with three bedrooms and a bath and a half. They’re already planning to repaint walls, build a deck and construct a new entryway to the dining room. They’re plunking down 3%, which is required for the mortgage they’re signing. They’re 25 years old.

I think my wife got a little bummed when she heard the news. I know that she too wishes we were buying a house. But the thing is, when it’s time for us to buy a house, we’re going to be in great shape. In fact, we’re hoping to put at least 20% down on a home, and at the rate we’re saving, it could be more. That decreases the likelihood of struggling each month to pay the mortgage. That makes me happy.

So here are some tips I came up with to stay focused on saving, even when the people around you are spending:

1. Don’t let emotions get in your way – don’t try to keep up with your neighbors’ spending habits. We’re all guilty of impulse purchases. These impulses can eat away at a long-term savings goal. Take some time to think about purchases before making them.

2. Make saving a habit – have a portion of your paycheck deposited automatically into a savings account each pay period. This money will add up quickly, and you won’t miss it. Always remember to pay yourself first.

3. Treat yourself once in a while – sitting home all the time in an attempt to save money will drive you crazy. Be sure to go out and do things you enjoy. They don’t have to be expensive things. Check local publications – they’re usually filled with fun and inexpensive things to do.

Tags: direct deposit, financial goals, impulse purchases, long-term goals, saving goals, Saving Money