Twelve Tips for Spending Less


These are tough economic times, and lots of people are feeling the stress. If you’re trying to cut down on your spending, try following some of these strategies:
1. Pay cash. Studies show that people find it much easier to spend money when they’re using a cash substitute (they also find it easier to cheat or pilfer!). Keep yourself in touch with cost, by using cold hard cash.

2. Focus on small items first. When you buy an expensive item, it’s easy to toss in unthinkingly a lot of smaller items alongside it – items that you might have otherwise have spent a lot of time considering, and which add up to a lot of $$$. So pick out smaller items first, then the larger item. Buy the software, the mouse, the mousepad, and the other bits and bobs, then choose the computer.

3. Don’t buy too much at one time. If you’re buying too many things, you stop paying attention to what you’re getting. Any one item seems insignificant. I call this “shop shock” or “drive-by shopping.”

4. Don’t buy anything at a bargain store that you haven’t bought before at full price.

5. Before paying, review each of your purchases with a skeptical eye. Don’t buy anything you’re not sure you want and can use – this is particularly important with clothes. I often ask myself, “Do I feel like wearing this tomorrow?” Sometimes, I realize I’ve picked something out because I can “use” it – but really, if I don’t love something, I almost never end up wearing it, no matter how useful it might be.

6. Don’t tell yourself, “I can always return it”; remind yourself, “I can come back if I decide I need it.”

7. Make a list and stick to it.

8. Don’t buy anything that needs to be a specific size unless you KNOW the measurements you need.

9. Don’t shop when you’re hungry. Even for non-food items.

10. Don’t shop as an activity with friends. It’s easy to spend more than you intend, or to buy something you don’t really need or want, when you’re distracted by conversation. Find something else to do with your friends. Have coffee, go for a walk, run errands together (in high school, my friends and I used to do errands together all the time, and it’s a great way to turn a nagging task into something fun).

11. Be very skeptical of anything that’s on sale.

12. If you don’t shop, you don’t buy. Stay out of stores.

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[via simplystated]


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If We Drill in the U.S., We Don't Get the Oil


The oil that comes from offshore drilling will belong to the multinational firm, like Exxon-Mobil and will go to world markets, not us.

One thing has been driving me crazy about this drilling debate -- everyone seems to assume that if we drill for oil in the US, that we will get the oil. And hence, we won't be dependent on foreign oil anymore. But we won't get anything, Exxon-Mobil will.

The oil that comes from that drilling will not be United States property (Republicans aren't suggesting we nationalize the oil companies, are they?). It will be the property of whichever oil company got the rights to that contract. They can then sell it to whoever they like -- and they will. They will sell it on the world market, so the Chinese will have just as much access to the oil that comes out of the coast of Florida as we will.

The Democrats have done a decent job of beating back the argument that this will effect prices in the short run, or even in the long run. But no one has addressed the point above. The Republicans make it seem like we won't be dependent on foreign oil -- and that prices will go down in the US -- if we have our own oil. But it won't be ours. And it will be sold on the world market, so its effect on global oil prices will be even smaller.

When we ask the question of whether there should be drilling off the coast of Florida or in the Arctic National Wildlife Refuge, we should ask the question this way -- would you be comfortable with the Chinese or the Germans or Russians or the Saudis drilling on American land? Because for all intents and purposes, they will be.

Large multi-national firms like Exxon-Mobil are not US property. They sell to the world and their allegiance is to corporate profits. So, when they drill, they drill for the whole world, not just us. Some might find that heart-warming, but it certainly has nothing to do with the US having more oil or lower prices.

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[via alternet]

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Money doesn't grow on trees, but gasoline might


Researchers make breakthrough in creating gasoline from plant matter, with almost no carbon foot print.

Researchers have made a breakthrough in the development of "green gasoline," a liquid identical to standard gasoline yet created from sustainable biomass sources like switchgrass and poplar trees.

Reporting in the cover article of the April 7, 2008 issue of Chemistry & Sustainability, Energy & Materials (ChemSusChem), chemical engineer and National Science Foundation (NSF) CAREER awardee George Huber of the University of Massachusetts-Amherst (UMass) and his graduate students Torren Carlson and Tushar Vispute announced the first direct conversion of plant cellulose into gasoline components.

In the same issue, James Dumesic and colleagues from the University of Wisconsin-Madison announce an integrated process for creating chemical components of jet fuel using a green gasoline approach. While Dumesic's group had previously demonstrated the production of jet-fuel components using separate steps, their current work shows that the steps can be integrated and run sequentially, without complex separation and purification processes between reactors.

While it may be five to 10 years before green gasoline arrives at the pump or finds its way into a fighter jet, these breakthroughs have bypassed significant hurdles to bringing green gasoline biofuels to market.

"It is likely that the future consumer will not even know that they are putting biofuels into their car," said Huber. "Biofuels in the future will most likely be similar in chemical composition to gasoline and diesel fuel used today. The challenge for chemical engineers is to efficiently produce liquid fuels from biomass while fitting into the existing infrastructure today."

For their new approach, the UMass researchers rapidly heated cellulose in the presence of solid catalysts, materials that speed up reactions without sacrificing themselves in the process. They then rapidly cooled the products to create a liquid that contains many of the compounds found in gasoline.

The entire process was completed in under two minutes using relatively moderate amounts of heat. The compounds that formed in that single step, like naphthalene and toluene, make up one fourth of the suite of chemicals found in gasoline. The liquid can be further treated to form the remaining fuel components or can be used "as is" for a high octane gasoline blend.

"Green gasoline is an attractive alternative to bioethanol since it can be used in existing engines and does not incur the 30 percent gas mileage penalty of ethanol-based flex fuel," said John Regalbuto, who directs the Catalysis and Biocatalysis Program at NSF and supported this research.

"In theory it requires much less energy to make than ethanol, giving it a smaller carbon footprint and making it cheaper to produce," Regalbuto said. "Making it from cellulose sources such as switchgrass or poplar trees grown as energy crops, or forest or agricultural residues such as wood chips or corn stover, solves the lifecycle greenhouse gas problem that has recently surfaced with corn ethanol and soy biodiesel."

Beyond academic laboratories, both small businesses and Fortune 500 petroleum refiners are pursuing green gasoline. Companies are designing ways to hybridize their existing refineries to enable petroleum products including fuels, textiles, and plastics to be made from either crude oil or biomass and the military community has shown strong interest in making jet fuel and diesel from the same sources.

"Huber's new process for the direct conversion of cellulose to gasoline aromatics is at the leading edge of the new ‘Green Gasoline' alternate energy paradigm that NSF, along with other federal agencies, is helping to promote," states Regalbuto.

Not only is the method a compact way to treat a great deal of biomass in a short time, Regalbuto emphasized that the process, in principle, does not require any external energy. "In fact, from the extra heat that will be released, you can generate electricity in addition to the biofuel," he said. "There will not be just a small carbon footprint for the process; by recovering heat and generating electricity, there won't be any footprint."

The latest pathways to produce green gasoline, green diesel and green jet fuel are found in a report sponsored by NSF, the Department of Energy and the American Chemical Society entitled "Breaking the Chemical and Engineering Barriers to Lignocellulosic Biofuels: Next Generation Hydrocarbon Biorefineries" released April 1 (http://www.ecs.umass.edu/biofuels/). In the report, Huber and a host of leaders from academia, industry and government present a plan for making green gasoline a practical solution for the impending fuel crisis.

"We are currently working on understanding the chemistry of this process and designing new catalysts and reactors for this single step technique. This fundamental chemical understanding will allow us to design more efficient processes that will accelerate the commercialization of green gasoline," Huber said.

[via eurekalert]
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Six factors that boost overall happiness besides a salary boost


We all need money to sustain some level of order and stability in life, but as the old saying goes -money can't buy happiness... Below is a list of things that can help boost your level of overall happiness that has nothing to do with money. If your asking me, I strive to live a balanced life and believe that you should play just as hard as you work. "It turns out that The Wall Street Journal agrees with this, as does workplace author Penelope Trunk, author of Brazen Careerist, The New Rules for Success. Trunk argues that a couples "personal time" may be just as important as their level of income when it comes to happiness."

Curious?
Check out the article here.
Artwork:www.eis.bris.ac.uk
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Chase Penalizes Customers For Saving Money Too Long


Savings accounts, they're where you save money. You put money in and leave it there. That's the whole point, right? Well, at Chase, if don't deposit or withdraw money into it for 3 months, it becomes "inactive," blogs Tom Drapeau. That means you can't make a wire transfer out of it. Annoying, but you can change to "active" by depositing or withdrawing money, and if you want to avoid "inactive" status, you could set up an automated transfer to put in $1 and take out $1 of it.

It could be worth the trouble, because if you let it "over ferment," the account could get classified as "dormant," and then the money magically disappears and goes to the state. We've heard some pretty asinine bank policies, but this definitely takes the ass cake.

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Hey Bank Of America, Before Locking Up For The Day, Make Sure There Aren't Any 73 Year-Old Ladies In The Basement



Bank of America employees in California forgot that Marian Prescher, a 73 year-old diabetic woman, was looking her through her safe deposit box when they closed the bank last Friday. Prescher did not expect to be in the bank long, and had not taken her diabetes medication. Sometime between 6pm and midnight - when she was discovered by a cleaning woman and taken to a hospital - she passed out, bruising her right cheek when she hit the floor. Bank of America is investigating the incident.

Now, am I the only wondering why the cleaning woman has access to the bank vault?
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20+ Investment Lessons



A great resource for investing know-how and lessons learned.

"As most successful investors will tell you, diversification is king. A diversified portfolio not only reduces unwanted risk, but also contributes to a winning portfolio. And having a well-diversified portfolio doesn't necessarily mean just buying more than one stock; branching out into other areas of investment could be a viable alternative. Read on and learn about 20 investments that Investopedia feels every investor should know. "
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13 Simple Ways to Save at Least $100 a Week



The title says it all. 13 Simple ways to save... Think what you could do with an extra $75-100 a week? These ideas aren't revolutionary, but there a starter for some people.
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