June, 2008:

Huge Electric Bill

My last electric bill from Con Edison was $97.34, the highest ever for a single month period. Since I have my electric bill payments automatically deducted from my checking account, I usually don’t look at the statements. But this time, I wanted to take a look at why the bill was so high.

There are two sections on the bill, one is the supply charges and one is the delivery charges. My supply charges was for a total of $48.94. Then there’s a delivery charge, for a total of $44.66. Add a sales tax of 4%, for a total of $3.74. The electric bill comes to a total of $97.34.

I wonder why my electric bill was so high. It was more expensive than many bills with a larger household size. For example, my parents electric bill with a household of 4, averages around $60 a month. I also live in a smaller apartment.

I called up Con Edison and question why my electric bill was so high, even compared to larger family sizes. A lady from customer service answered my call. Initially, she told me that what I saw on my bill is what I was charged for. Talk about being helpful, the customer service felt like a robot to me. And then she told me that different families have different electric usage. So, I asked if I can find out what is consuming so much power in my apartment. She told me that it could be because of my air conditioner, refrigerator, TV, etc.

I wasn’t satisfied with the answer. Then she asked me to fill out a questionnaire over the phone to see estimate what my monthly usage is. It didn’t really help at all. Finally, she told me that she would send me a guide to help me save energy at home. I didn’t think that will help me get to the heart of the problem. What I really wanted was that they send someone to my home to analyze the situation. In any case, the lady was not helpful, and she was rather impatient. I thought it would be better if l try to figure out the problem by myself.

In addition to the TV, refrigerator, and the usual appliances, I usually leave my computer on without turning it off. That may be one reason why my electric bill is so high. However, leaving my computer on, was something I have been doing for years, so that should not be the reason to why my bill had spiked up. My second guess was the 300W halogen lamp in my apartment. I was told that the halogen lamps consume a lot of energy, but I have a dimmer on it, so I always try to use the low settings.

Even then, I find it surprising that I consume more electricity than bigger families. I live in a small studio apartment in NYC, about 250 sq feet. I am usually not at home, so I don’t think I use that much electric power.

I can try to change my halogen lamp to a more energy efficient one and see if that will have an impact on my bill. And I will set my computer to sleep mode after there is no activity for some time.

A copy of my bill

coned-bill-june-2008.jpg
Electric Rates
My current supply rate is 12.9020c/kWh.
My current delivery rate is 7.9356c/kWh.

What are your supply and delivery rates?

Carnival of Personal Finance #158

Mrs. Micah is channeling Buffy the Vampire Slayer in the 158th Carnival of Personal Finance. Here’s are the editor’s picks for best of bleed… er… breed:

My Incredibly Skrinking Savings Account – Are Savers Financial Losers?
Make Bi-Weekly Pay Work in a Bi-Monthly World
The Price of Your Favorite Color
The Vending Machine 2 for 1: Frugality or Stealing?
Is it Frugal or Stealing?
Monopoly Game Expansion: Personal Savings Account
Economy of Technology: Smoke and Mirrirs With the iPhone
My Personal Finance Confession Project: Credit Card Rates

My article, The Best Places To Hide Cash At Home is presented in the Carnival of Personal Finance.

The Best Places To Hide Cash At Home

stacks-of-cash.jpgI recently saw the movie, Mad Money and one of the interesting parts in this movie is how they hide money. The main characters in the movie have illegally taken many bags of money home. They have to find a way to keep the cash from view, so they fill up every drawer and cabinet in their house with cash.

If you have a large stack of cash to put away, where would you hide them? There are people today that still do not like keep money in the bank. These people would store cash at home, in places that they think nobody can find.

How do you hide money so that thieves or robbers would not find them? You want to make sure that you hide your cash in a secret location that only you know about and nobody else knows.

A very popular place to store cash is under the mattress. In the old days, people always put important things under their bed. Now, everyone knows about the under-the-mattress secret location, and that has become a high-risk location now. People have to be more creative and think of new places to hide cash. Here are some examples of places to consider a spot for hidden cash.

Living Room

  1. In a self-created mouse hole in the back corner and cover it with paint
  2. In a concealed flap behind the television cabinet
  3. Underneath the couch, in an inside pocket
  4. Underneath your wood floor, in a self-created spot
  5. Inside a concealed compartment of a large table

Kitchen

  1. In a self-created compartment in one of the higher cabinets
  2. In a hard to reach area, probably at the top of the cabinet, blocked by many food items
  3. Underneath the sink, behind the pipes
  4. Behind the oven/stove
  5. Behind the refrigerator

Bathroom

  1. Behind the mirror, before the wall (not inside a cabinet)
  2. Inside a medicine box on the top shelf of the medicine cabinet
  3. Behind the toilet, or inside the water tank, in a tightly sealed box/bottle
  4. Underneath the sink, behind the pipes

Bedroom

  1. In a self-created mouse hole in the back corner and cover it with paint
  2. In a self-created compartment in a closet
  3. In the pockets of an old jacket (identifiable for you) in the back of the closet
  4. In a  shoe box (identifiable for you), among many other shoe boxes
  5. Inside or under a desk lamp table
Share your thoughts below and let us know what you think is the best way to safely and secretly store cash at home.

Carnival of Personal Finance #157

The Carnival of Personal Finance is celebrating three years today with the latest edition hosted at the origin, Consumerism Commentary. Here are picks for Editor’s Choice:

What’s Your Financial IQ? Here’s a Test.
Politics and Your Money
My Top 5 Personal Finance Blunders
Too Much Debt Can Ruin Your Health
Become Rich By Helping Others
Financial Super Powers Series: Time Control and Super Speed
How to Teach Your Kids About Money
The Four Pariahs

Carnival of Personal Finance #156

The latest edition of the Carnival of Personal Finance is hosted by Prime Time Money.

Here are PT Money’s selections for “Editor’s Choice:”
The ABCs of Keeping Cool
13 Fun (Free) Things to Do This Summer
6 Ways to Save Money on Vacation
Spreadsheet: New Car Cost vs. Old Car Cost
13 Free or Cheap Ways to Keep Your Home Cool This Summer

My article Stock Challenge June 2008 is also included.

My Goals and Progress June 2008

Last month, I served on jury duty service and was not compensated for the time I did not work. Recently, I received a check from the State of New York for $80, for the two days for the two days I served.

Career
I received a nice increase in my annual income this month and I have broken the six digit income barrier. Even though I am still working on my current consultant project, I plan to look around this summer and see what else is out there. I started to update my resume and will continue to work on it. Then I will search on career sites to see what other jobs are available. Even in this tight job market, I saw a lot of openings in my field.

Microsoft Money
I still haven’t had a chance to update the financial data in my Microsoft Money. I made tons of trades in my brokerage account from Fidelity, but only some of the trades were recorded. At this point, I don’t know if it’s worth the effort to record all my previous trades.
Status: Fidelity Brokerage Account needs to be reconciled
Goal: Reconcile the transactions in Fidelity Brokerage Account by June 30, 2008

Stock Market
I made a lot of trades in May, mainly playing with energy and tech stocks. Looking at May 2008 brokerage statement, I saw an increase of $1014 at the end of the month. My goal was to make $2000 in the month of May, so I came about 50% short of my goal.

The stocks on my current watch list are WFR, STP, YGE, NE, DO, QID and more. I am bearish in the market for June and will start building up a nice short position, such as QID for the short term.

Goal: Make $1500 in profit for the month of June

Stock Challege
Since I am into trading and discussing about stocks, I thought of starting a Stock Challenge in the beginning of this year. However, because of my busy schedule, I started the Stock Challenge in April 2008. I would like more people to participate so we can have nice ideas and trades going back and forth. Also, I had created a group earlier,

http://finance.groups.yahoo.com/group/StockPickersElite/

e-Commerce Site
My partner and I tried to look for a third party company to design and build our e-commerce website. We found some companies and called them up. However, none of the companies responded to either our phone calls or emails. Currently, we are on hold.

Does anyone know of a third party company that will help design, build and maintain a e-commerce website?

Status: Could not find a third party service to build website.
Goal: Look for a third party service to bring website live by the end of this month.

Reminder to Enter June Stocks Challenge

If you haven’t picked a stock yet, remember to submit your entry by the end of Sunday June 8th, 2008 for the June Stocks Challenge.

Carnival of Personal Finance #155

Carnival of Personal Finance #155 on posted at Moolanomy, and it includes my post, Rental Property Status May 2008.

Here are the editor’s picks:

29 Free Or Low Cost Ways To Save Energy & Money
Stop Complaining about Gas Prices
Invest in What You Know
Five things Indiana Jones Can Teach Us About Personal Finance
Taxes… Now or later?
26 Ways To Make Extra Money While Keeping Your Day Job
Economic Mobility—What Are Your Chances of Moving Up, Really?
Learn to Say No
My Favorite Money and Time Saving Websites
Increase Your Salary Without Increasing Your Work

Stocks Challenge June 2008

The May 2008 Stocks Challenge ended with only one participant, myself. I pick Nvidia (NVDA) and it netted a gain of 20.19% for the month. But since I was the only participant, I win by default anyway. I took the $20 cash and bought myself a lot of ice cream.

I will give the Stocks Challenge one last chance. And for this month, I am offering a brand new VISA Gift Card at $25 value (I paid an extra $3.95 activation fee for the card), plus lots of prizes for the other winners.

The Challenge
Pick a stock that you think will have the most percentage gains from the open price of June 2nd to the close price of June 30, 2008. In case of duplicates, the contestant with the earlier post counts, so enter early.

Requirements

Pick a stock and reply to the comments of this post for the record with a link to your blog.
The company stock must have a minimum market cap of $50MM at the start of June 2nd, 2008.
The company stock must have a minimum stock price of $5.00 at the start of June 2nd, 2008.
The contestant can only pick one stock.
The contestant must have a blog and post the pick on his/her blog and link back to this post.

Rules
Entries must be submitted by the end of Sunday June 8th, 2008. The winners will be announced here on Growing Money after June 30th, 2008.

Prizes
1st Prize – $25 VISA Gift Card
2nd Prize – Choice of book from my collection
3rd Prize – Choice of book from my collection
*Prizes will be shipped to the winners free of charged. If you are the declared winner, please provide your address to me
via email (growingmoney (at) gmail.com).

My pick for this contest
I will pick YGE.

Previous Contests
Stock Challenge April 2008
Stock Challenge May 2008

Smarty Wins May Stocks Contest

I am the winner of the May 2008 PF Bloggers stock picking contest. My pick was Nvidia (NVDA) and it netted a gain of 20.19% for the month. Here are the final results for the May 2008 stock contest.

Nvidia (NVDA) was also my pick for my Stock Challenge May 2008. Since I was the only participant, I win by default and I deposited the $20 prize in my account. So, I won 2 stock contests and two prizes for May 2008.

I will post a Stock Challenge for June 2008, possibly the last stock contest. I know I haven’t been pushing these contests very hard, because I have been busying with my work and projects. I hope to get more participants for the June contest, and I will offer a very generous prize and hopefully that will attract more people.