I have never been so amazed. Not since jelly sandals I bought in 7th grade. Not since Sex and the City. Not since I discovered Rita's. Not since I paid $4 for a cute top on sale at Target. Not since I found the perfect pair of jeans (and ladies you know how difficult that can be). Not since Barack Obama's win as the Democratic Party's Presidential Candidate.
On a trip to the movies last night, the sign stated $2.49 for REGULAR. AMAZED ALRIGHT. FLABBERGASTED TO BE PRECISE. The average cost of gas for the past couple of weeks has been $3.09/gallon. It has decreased every week in the past month. It seems like most of us favor public transportation over millions who choose to stay on the road. I'm aware that not everyone has the convenience of hopping onto the Metrobus or Train or MARC to get to work but for those who can, DO IT. Why not? It's a win-win either way. You can get your daily exercise and lessen your monthly cost of gas.
On the other hand, it's also good for our environment. Suffice it to say, the ozone layer is overwhelmed to the extreme, don't you think? If you live in Maryland, Arundel Mills and Laurel have some of the lowest prices in gas. Are there any gas stations you know of with low gas prices?
It's apparent that this is more than good news for those who drive daily. As TIME magazine reports, It doesn't feel like it, but we got a raise this week. The plunging price of oil, which prompted OPEC to announce a 1.5 million barrel a day production cut, has put money in the pockets of recession-worried consumers. (http://www.time.com/time/business/article/0,8599,1853775,00.html?cnn=yes)
Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts
Saturday, October 25, 2008
Tuesday, October 7, 2008
MONEY MATTERS
Essentially, the 3 "safe" places to invest your earnings at this time are: CD's, 401k's, and money market accounts.
As this is not the first or last time in history that the market has been in a decline, it isn't the worst either. The first and most obvious thing to do is to NOT take any money out of your 401k because of the penalties. You think that if you decided to withdraw the $3,000 or any other amount from your 401k, it will do you good but your a** will get taxed as if you never saved anything at all. Desperate times indeed but make every move a smart one. Think about it thoroughly. Also, very few employers are matching these days so, that is beneficial to those who have it.
Loan providers such as Sallie Mae, Freddie Mac or Lehman Brothers do not have the resources to loan money to those who need it for educational purposes or auto loans because the banks that provided them with it are now left in the cold. Basically,the bailout bill only "bailed" out these huge corporations and the banks, such as Bank of America, are experiencing the worst of it all. They'll never get the money they loaned back even after the "Financial Rescue Legislation" as what it is now referred to.
I have concluded that you need two things to save yourself from all this headache: SAVE & SAVE YOUR MONEY WISELY AND SPEND LESS THAN EVER BEFORE BECAUSE REGARDLESS WHO GETS ELECTED PRESIDENT, NO ONE CAN HELP YOU OUT BUT YOURSELF.
As this is not the first or last time in history that the market has been in a decline, it isn't the worst either. The first and most obvious thing to do is to NOT take any money out of your 401k because of the penalties. You think that if you decided to withdraw the $3,000 or any other amount from your 401k, it will do you good but your a** will get taxed as if you never saved anything at all. Desperate times indeed but make every move a smart one. Think about it thoroughly. Also, very few employers are matching these days so, that is beneficial to those who have it.
Loan providers such as Sallie Mae, Freddie Mac or Lehman Brothers do not have the resources to loan money to those who need it for educational purposes or auto loans because the banks that provided them with it are now left in the cold. Basically,the bailout bill only "bailed" out these huge corporations and the banks, such as Bank of America, are experiencing the worst of it all. They'll never get the money they loaned back even after the "Financial Rescue Legislation" as what it is now referred to.
I have concluded that you need two things to save yourself from all this headache: SAVE & SAVE YOUR MONEY WISELY AND SPEND LESS THAN EVER BEFORE BECAUSE REGARDLESS WHO GETS ELECTED PRESIDENT, NO ONE CAN HELP YOU OUT BUT YOURSELF.
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