Huge Electric Bill

Posted on June 26th, 2008 in News & Opinion, Energy by Smarty

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.

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?

My Goals and Progress June 2008

Posted on June 9th, 2008 in News & Opinion by Smarty

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.

Smarty Wins May Stock Contest

Posted on June 1st, 2008 in News & Opinion by Smarty

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.

Carnival of Personal Finance #154

Posted on May 26th, 2008 in News & Opinion by Smarty

Carnival of Personal Finance #154 on posted at Canadian Dream: Free at 45, and it includes my post, Salary Review: Year Over Year Comparison 2008.

Salary Review: Year Over Year Comparison 2008

Posted on May 25th, 2008 in News & Opinion by Smarty

This year, I have reached my goal of achieving a $100,000 income for the fiscal year of 2008.

Since I am a contractor, I am get paid on an hourly rate, but I will list all the numbers here as annaulized amounts, so that it’s easy to read and compare. This year, I negotiated aggressively to get a higher rate. My client initiailly was unwilling to provide a higher than 10% increase, however, my client finally settle with an annualized salary of $100,000, provided that I sign on a two-year contract with no further salary negotiations until the contract is over. I agree and signed on a two-year contract.

Below is the latest main income comparison table. Some of the rates below are annualized.

Fiscal Year : Salary : Percentage Increase Over The Previous Year
2002 : $37,000
2003 : $38,500 : 4%
2004 : $40,500 : 5%
2005 : $45,000 : 11%
2006 : $50,250 : 12%
2006 : $70,000 : 39% <– New Job
2007 : $85,000 : 21% (annualized)
2008 : $100,000 : 18% (annualized)

annualized_salary_over_time_2008.jpg

Related Posts:
Salary Review: Year Over Year Comparison 2007

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