A personal finance and investing blog
AeroVironment (AVAV) IPO
The company begins trading on the secondary market on Jan 23, 2007. I plan to get in early below $20.
Rackable Systems Inc. (RACK)
I made an entry in RACK today at $18.50 for 500 shares. Though I think it may touch lower grounds, I decided to test the water. The Forward P/E, PEG and Cash Per Share look good.
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Data from Yahoo! Finance
Jim from Blueprint for Financial Prosperity is hosting the 84th Carnival of Personal Finance.
There’s a link to my post, Money Management 101.
If you’re a motivated and hardworking individual and love to talk about money, you could sign up to be a poster and contribute on Growing Money Blog. Please email me or leave a comment on any post.
Requirement: One solid post a week.
If you would like to have your own financial blog/site, Growing Money will allocate 10MB of webspace for you. You have the option of using your own domain or a subdomain of Growing Money Blog.
Requirement: An ad will be placed on your site. Also, there must be a reference link to Growing Money.
Pay Off Debt
Debts are a liability. Pay off debt with highest APR first.
Consolidate Debt
Shop for the lowest loan rate and consolidate. This allows better debt management control. Having all the loan in one place allows you to focus on eliminating it.
Sign Up Overdraft Protection
If you have a tendency to write more than your bank balance, overdraft protection can save you from high fees.
Pay Credit Cards On Time
Avoid late fees and finance charges on your credit card by paying in full each month.
Use Direct Deposit
If your employer offers direct deposit, sign up and have your paycheck automatically deposited to your bank account.
Set Auto Payments
Use recurring payments for monthly expenses. Have your vendor automatically withdrawn money from your bank account or credit card. Examples include electric bill, phone bill, credit card bill, etc. Remember to review your monthly statements before payment is made.
Invest Regularly
The best way to grow your money is to invest. Start with mutual funds and use automatic investing if you’re a beginner or risk-aware.
Spend Wisely
Think twice before blowing your money on purchases. Is it worth buying the product/service? Will it benefit you? If you hold off the purchase, will you still buy it a week later?”
Keep Track
Know where you money is, where it’s coming from, and where it’s going to. Money Management software such as Microsoft Money or Intuit’s Quicken can give you a better control of your financials. Use software or a spreadsheet to track all your financial transactions.
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When I was in college, I provided technical computer support for extra money. One of my ex-cowokers, who I met from my internship in a bank, asked me to help her with her computer. She gave me many opportunities to make money and paid me a competitive rate. At that time, I was willing to take any amount she offered, but she insisted on giving me market rate. Also, she offered drinks and food when I was over at her home. We kept in touch throughout the years and she provided guidance in my career path. She helped revise my resume and offer professional advise for my career. Lately, she referred me to a consultant job, which I took.
One time, I asked her why she always goes out of her way to help me. She said that many people have helped her when she was younger. So in return, she’s helping the younger people now. It is a cycle. Society has helped her in the past; now, she’s giving back to society.
I thought about it and realize the beauty of the cycle. If you have received help before, you owe it to society to help others. Almost all of us have received help, either directly or indirectly. Think about the leaders, celebrities, idols or civilians before and during our time. They might have done something that allow you to live in a different world today and might have contributed to your freedom or your better lifestyle.
As successors, we should contribute back to society and help out those less fortunate. Free Money Finance shows a good example. He donates all his blog revenue to charity.
There are many ways to give back to society. I donated money in 2005 to Red Cross for the Tsunami Fund (see receipt below). I donate clothes and home equipment every year. But there are also other ways of contributing to society. I’ve worked hands-on with students of all ages and helped them with their school work. In the recent years, I’ve talked with several college graduates and helped them find their focus in their career. And because I believe in investing, I’ve talked to many people about investing their money, and it led me to starting this blog. Whether it’s investing, money management, career guidance or mentoring, I will continue to provide support and help for society.
American Red Cross receipt
Here are some ways you can give back to society:
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