August 18 - International Pirates of Finance Day

I was going to let everyone off easy for today. I planned to celebrate August 20th as International Ennui Day, I'm sure that we all would have loved being couch potato for a day!
But, I got yelled at by the Barn Overlord. (sheesh! who knew his sphere of influence has as much girth as his...oops, I digress). Newly entrapped, I mean...inspired to re-create August 20th, I turned to recent events in the US financial markets.

Hedge fund managers whining about their tax burden, subprime lenders wondering why their clients can't pay their loans (uh, duh), the Motley Fool actually encouraging folks to buy Pfizer stock.

All signs of financial meltdown, at least to me.

So I am NOT a licensed stock broker, trader of money, or a Motley Fool. But, I do know this.

1. Spending more than you earn is so not good. Tis easier to find the treasure of One-Eyed Willie than pay back interest plus principal.
2. The following is faulty logic, unless you have reserves of gold medallians: "I need that $10,000 carbon fiber Guru bicycle, and it would totally pay for itself in less than a year." (It IS pretty sweet eh?)
3. Learn bears and bulls and NASDAQ and S&P500 and DJIA.
4. If you have a new pirate ship, don't bitch about money m'kay?
5. If you are new to stock trading, find an investment club. They're all over and it's a great way to learn the ropes, and find new friends. Most investments clubs perform better than the S&P500.
6. For personal finance, having a spreadsheet of monthly bills will work wonders.
7. Saving even a bit of money each month will help out on rainy days, or let you do something fun. Shop around for good interest rates. 0.25% is not good!
8. If you are young (20's-30's), invest now into your 401k or forever hold a job.
9. If you are in a pickle, there are people who will help you for free. Stay away from sharks who will charge you a certain % to help you get out of debt.
10. Constantly check and re-check what you are paying for your credit card interest, your insurance rates, your phone plans, even your airline miles plan. Don't be afraid to negotiate new terms if they are no longer satisfactory to you. A good rule of thumb is every 6 months.


And last but not least, enjoy what you do have! Appreciation will counter-act those pesky Joneses faster than Ali's right hook.