Godlike Productions

With today’s economy and the rising unemployment rate, more people are open to other options in finding a job.  Relocation is probably not one of the most attractive option, but it is a good one at this point.  The Bureau of Labor Statistics posted a list of the 25 best cities to find a job where unemployment rates are the lowest.  Six of the 25 cities didn’t even have any change in their unemployment rates.

25. Sioux City, Iowa
26. Pocatello, Idaho
23. Odessa, Texas
22. Provo, Utah
21. Salt Lake City, Utah
20. Missoula, Montana
19. Des Moines, Iowa
18. Charlestown, West Virginia
17. Great Falls, Montana
16. Portsmouth, New Hampshire
15. Lincoln, Nebraska
14. Iowa City, Iowa
13. Midland, Texas
12. Lafayette, Louisiana
11. Ames, Iowa
10. Billings, Montana
9. Casper, Wyoming
8. Fargo, North Dakota
7. Logan, Utah
6. Morgantown, West Virginia
5. Houma, Louisiana
4. Bismarck, North Dakota
3. Idaho Falls, Idaho
2. Rapid City, South Dakota
1. Sioux Falls, South Dakota

CNN and Savvy Sugar

GeekSugar

I see myself looking at my budget worksheet all the time and trying to find a way to cut down on my living expenses.  The highest bills that I could probably lower are the heating and cell phone bills.

I still don’t have my heater on.  I just pile on pajamas and sweaters.  So I’m hoping to get a lower bill this year than last year.  But am I willing to cut down on my cell phone services?

I lived more than half of my life without a cellphone and a third of my life without any type of phone!  I also read an article stating reasons to stop using cellphones.  So I should be fine cutting some of my cell phone services or even cutting it totally, right?  Ummm I don’t think so.

I’m sorry but I love the convenience of being able to call someone anytime.  My friends text me all the time so I need to keep my texting plan or else my bill will be much higher if I pay per use.  My internet access is definitely a big expense and unnecessary.  I really don’t want to take that service away, but if need be I will.  But for now while my contract is not up, I have a reason to keep it :).

How about you?

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With unemployment on the rise in the US, it is more important now to have that emergency fund handy.  Unfortunately, according to an article on CNN, a third of Americans have no emergency savings.  And more than half of those who do, don’t have enough in it.

So how much do you need to have in your emergency fund?

That depends on your living expenses.  The article suggests that you need three to six-month worth of living expenses in the bank.  At a minimum, include the items below in calculating your living expenses:

• Mortgage/rent
• Property tax
• Utilities (i.e. electricity, heating, water, cable, phone, internet)
• Groceries
• Insurance premiums (add $400-$1000 for health insurance when health insurance is lost on unemployment)
• Car expenses (gas and loan payments) or commuting expenses
• Discretionary spending (for extra expenditures such as shopping and dining)

Click here to read the full article that includes steps to building an emergency fund. 

As soon as I read the article, I rushed to my computer to check my budget worksheet and calculated 6-month worth of living expenses.  I let out a sigh of relief when I found out that I have more than enough in my savings to cover me for 6 months.

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The IRS is sending out the tax rebates as early as April 28.  See below for schedule.

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Direct deposit payment

Paper check

(source: Savvy Sugar)

I’ve only checked my credit report and credit score once in my lifetime. That’s not good. It is advised to check your credit report regularly to check for inaccuracies and avoid identity theft.

For those who don’t care to check their credit report, you might care now if you learn that you are entitled to free credit reports every year. Take note that credit report is different from credit score. Credit report includes your accounts, payment history, payment behavior, and balances.

Below is how you can get free credit reports:

• denied an application (i.e. loan, insurance policy, unemployment) due to your credit history
• you live in a state that already offers free credit reports from each credit-reporting agency (Colorado, Georgia, Maine, Massachusetts, Maryland, New Jersey and Vermont)
• go to AnnualCreditReport.com, the ONLY authorized source for free credit reports
• call (877) 322-8228
• download a brochure from Federal Trade Commission and fill out the request form

(source: MSN Money)

UPDATE:

08/06/08: There are three more situations in addition to the above, that you may be able to get a free credit report:

• Identity Theft
• Unemployment
• Welfare

For more info, click here.

(source: MSN) 

Liz Weston of MSN Money created a list of 10 ways to simplify your life, or at least the financial aspect of it.  Now I’m using this as a checklist.  Let’s see how far along I am to completing it…

  Use direct deposit

  Get true overdraft protection

  Consolidate your accounts

I didn’t necessarily consolidate, I just decided to use one of each type of account if possible.

  Consider two checking accounts

I don’t have that many bills yet.  But John and I have talked about doing it when we move in together.

  Set up a high-yield savings account

  Create alerts

  Move your due dates

I didn’t have to.  I don’t have that many accounts and their due dates differ.

  Create a bill calendar

Not only do I have a calendar, I also have it set up in my Yahoo! Plus calendar with alerts.

  Pick the no-brainer options

  Monitor your money

Thank goodness for the internet, it’s now easier to monitor accounts.

Here are just a few of the reasons why you would call me cheap, but I prefer the term economical :P:

• I’m still not satisfied with the design and layout of my websites.  I designed the websites myself.  And I can only do so much, as I haven’t taken any web design classes.  Even though my sites still need a lot of enhancements, I refuse to pay for web design services.  You can call me cheap as much as you want, but I won’t budge.  Instead, I decided to take a few webdesign classes where I’ll be taking my photography classes.  And best of all, the classes are free!
• The basement is being renovated and I have to furnish it from scratch.  Not only do I look and wait for sales, but I also search all coupon sites for more savings, I shop through ShopDiscover to get more cashback, and tap into my credit card’s rewards program for free gift cards.
• I’ve lowered the temperature at home to save on gas.  I also try to minimize our energy consumption by turning off lights I pass through.
• I take advantage of all taxable-income-reducing options at work including my MTA fare.
• I try not to shop anymore unless necessary.  The last time I shopped for a jacket was yearsss ago.  I had to buy one this month because I ruined my favorite winter jacket.  I leaned on wet paint.  I was so pissed.  I also bought a couple of boots coz the soles of my favorite boots were almost non-existent.  Of course the jacket and the boots were on sale :D.

I did slip last holiday season.  I spent way more than I was supposed to.  All the more reason to be cheap now, I mean… economical.

(image from HealthyHeating.com)