Something On My Mind

This week we interview Timmy Mckeegan; the 12-year old prodigy who at a young age is making a mark on the world. He is mining his own stable coin, has written two books and a podcast and has traveled to 30 countries. He has an amazing life and has accomplished more than many people do in an entire lifet ime.

In the roundtable, we discuss getting rid of your possessions. How much do you have and how much do you need?

Timmy's website:

https://investingforkidsbykids.com/

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Even in times of rising inflation, people seem to be going out and spending money.

This is likely to occur for some time until things are too expensive and we fall into a recession or in stagflation state

At the moment the world has a handle on Covid and entertainment venues are filling the seats.

So when going to an event, the question is: do you buy your tickets right away or do you wait? If it is a can’t miss, people will pay up.

If you decide to wait, there are many apps out there to buy tickets in the second hand market.

So for the next question: is it better to wait until to pruchase tickets right up until the event occurs.

Typically this is a good strategy, but more so when the event is not sold out as venues want to fill their seats.

Recently, I went to a baseball game on Memorial Day weekend and it turned out that it was less expensive to buy the seats at Will Call rather than through an app. This is because the demand was high.

As for sporting events, if the team stinks or you don’t mind showing up after it starts this will save you money.

Another strategy is to search for events straight through the venue as you can find packages that will include parking. We have found this to be advantageous.

We parked close to the building and saved money. There’s nothing like paying $60 bucks to park, right?

The bottom line is that there is no right or wrong answer.

As for my wife and I, being spontaneous keeps life interesting - we hop in the car, find an event and we keep some of our money from going to the overpriced ticket brokers.

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Thiw week we discuss I-bonds:

Key Takeaways

Series I bonds are inflation-beating savings bonds issued by the U.S. Government.

You pay the face value of the bond and receive interest and an inflation adjustment.

Savings bonds are not transferable, so they must be purchased from the U.S. Treasury or certain banks and payroll programs.

In the roundtable we discuss an survey that says around 57% of Millennials love their pets more than their siblings and 50% of them admitted the same in comparison to their mothers. Ugh!

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The Earth might seem like it has abundant water, but in fact less than 1 percent is available for human use and we are running out of it.

So let’s push down the handle on some Flush Facts:


According to the EPA, the average American uses 300 gallons of water per day or about 80 gallons per person. In addition, roughly 70 percent of this use occurs indoors.

So it goes without saying that there is always something that we can do. So let’s talk about toilets.

With that being said no one goes out and says that I am excited to shop for a toilet; however, over $10 Billion are sold in the U.S. each year.

This means the odds you’ll buy one sooner than later. So let’s get to more numbers.

The standard toilet in the past used 1.6 GFP or gallons per flush and with recent advancements, many have been reduced to 1.28 gallons per flush which is a reduction of 20%

WIth my recent toilet purchase, it uses just .8 GPF while still providing equal or superior performance.

So I am happy with my choice knowing that the average person flushes five times per day which means I am cutting the water usage in half.

Not to mention that I have incorporated other water reducing tactics with other low flow appliances and fixtures from our PFT #40 and PFT #6 which covered why there is no need to rinse your dishes by letting your dishwasher handle the load.

Therefore, I am significantly reducing my water bill as my past purchases will pay for themselves over time - the best part is that I am preserving our environment and you can too!

Website:

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This week’s personal finance tip is about the gas gouging myth and lower gas for cash.

In times when inflation is rising, we experience higher prices for our goods and services as well as shortages.

For example, In the grocery store, we’ve experienced products in limited supply from toilet paper to baby formula. When a desired product is available, it is emptied as soon as it was stocked.

When it comes to gasoline, supply chain disruption was experienced in 1973 and 1979.

This also occurs during natural disaster situations where shortages shoot up prices and then we hear about gauging.

To make things clear, gauging does occur; however, there is a large misinformation notion that gas stations drive up their prices because they have us over a barrel.

For the most part this is not true as our research on average tells us that most retailers make 15 cents per gallon after the consumer pumps it.

To make things worse, most people pay via a credit card which has a merchant fee around 2.5%. Hence, when the price per gas is at just $4, the retailer pays 10 cents and in our example would profit just five.

This is why we see a cash price listed on the signs that are lower than the credit price. Hence, if you have cash, this is another way to keep a few bucks in your pocket especially during long stretches.

The bottom line is this is another way to save a few more dollars, yet the hidden point in this finance tip is when we understand how things work, we can accept things that we don’t like.

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This week’s personal finance tip is about Better Battery Co’s Recycling and Delivery Program.

Can you imagine how many batteries are in landfills considering every household uses them?

According to The California Department of Resources and Recycling, it is estimated that 4 billion disposable batteries are shipped to the US each year and that means the average US household uses an estimated 47 batteries per year.

Now this is a daunting piece of information; however, there is good news. You can now purchase batteries online while also disposing of them responsibly.

Better Battery Co. has developed household batteries that are not only rechargeable, but also recyclable. Their program is designed to ship you new supplies as you deem necessary while providing the packing and the return packing slip.

When it comes to your money, you’ll pay more for the batteries than you are accustomed to; however, they do come in a variety pack of sizes which is not how most batteries are sold and you don’t have to leave your house.

Moreover, when you hear the words “cost more,” consider that many people pay double the price just to get their food delivered to their doorstep.

The bottom line is that this battery product is an ongoing example of an innovative solution that is convenient and helps the environment. In time, this may be the norm rather than the exception.

Website:

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In this week's episode, we discuss the stats on the student loan crisis and what Joe Biden may provide for relief. Rumor has it that he will give $10,000 to each borrower; however, some democrats have been calling for $50,000.

The other question is how gets the relief? Is just federal loan borrowers? What about personal or parent plus loans? What about those who have already paid their loans off?
There will be groups that will be left out and this will cause many people to be outraged.

In the roundtable we discuss the behavior of people when they are quitting their jobs.
Website:

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This week's topic is about the true cost of new appliances and warranties.

We are a society that has too much stuff and we have become accustomed to the conveniences that have made our lives easier than it did for our grandparents.

This is a great thing; however, appliances have become increasingly expensive due to the features that they offer as well as the high rate of inflation mainly due to the supply chain shortage.

With that being said when you buy an appliance it is important to consider if there are other costs exists beyond the actual price.

The first thing is to start with the discount which creates your base price and then add any tax if it exists in your state or municipality.

After that it is important to factor in what you are buying in that it may involve other costs beyond the straight purchase.

For example, I just purchased a new washer and dryer set that was $2,800 that was discounted to $2,200; however, I paid additional costs for hooking up the equipment which also came with parts and labor. There was also a charge to haul away the old appliances.

Lastly, I opted for a $200-five year warranty for the washer and dryer each with my logic being that the appliances would need service and would exceed $400.

All in all, my total cost was $2,878 with tax which is 31% higher than what the sticker price.

To sum things up, it is important to purchase the product that fits your needs and when you nail that down, think about the appliance protection as the odds are that you’ll pay more later for repairs if you opt out of warranty coverage.

Lastly, when you budget for major appliances, factor-in at least 25% over the discounted price.

With that being said, the everyday modern appliance is a beautiful thing; however, the major difference is that they do not last as long as they used to - the logic says that when app

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This week's episode is part #3 of the little costs that you pay too much more that begin to dent your budget. This could be coffee, candles or app subscriptions. We provide money savings ways to manage them without sacrificing your quality of life.

In the roundtable, we discuss the differences between generations and how each subsequent demographic thinks they are smarter than their predecessors.

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When it comes to our finance tips, we haven’t covered reusable batteries as this seems like a no-brainer; and that exactly a case; however, sometimes we need a reminder.

Rechargeable batteries have been around since I was a kid in the 70’s and they juiced up my remote control cars and my giant dual tape deck boom box radio.

Now that we are in the 2020’s we still have an insatiable need for batteries for just about anything due to the advanced technology in our daily lives.

So let’s run through some stats on batteries with the most common type which are Single and double A.

When it comes to these rechargeable batteries they will cost more upfront; but the money that you save is far and away better than buying disposable batteries.

Disposables last longer for a one-time use; however, most rechargeable batteries have at least 1,000 - 2,000 charges before they expire.

The other factor is that in many states, the batteries are not recycled and therefore end up in a landfill. In fact, California considers them hazardous waste.

The bottom line is that viable product solutions are being offered at blistering pace without sacrificing quality while improving the environment - and as always your pocketbook thanks you.


Website:

https://www.somethingonmymind.net/

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