5 Employer Benefits You Might Be Missing Out On

by David@MoneyNing.com · 15 comments

Everyone is talking about bonus cuts and upcoming layoffs but what about something that will boost your benefits? Getting more perks from your job is essentially free money and best of all, most of these have no tax consequences for you.

Read the few suggestions below and remember to talk to your human resources department and check out the company internal websites. Another good way to find out is by talking with your coworkers to get an idea of what the company provides. Of course, not every company has all of the ones benefits listed below but it’s worth trying to find out.

  1. Gym Membership

    Many companies will actually pay for your gym membership (actually, some even have a gym within the workplace). Some companies offer discounts and others will even pay the whole thing in full. Just remember to read the details because while a few will just reimburse you if a receipt is provided, most companies designate fitness clubs that they will subsidies for.

  2. Save Some Money on Commute

    Not every company will pick you up from your house with a shuttle to work like Microsoft and Google, but some companies will help you out on your daily commute cost. A popular option is to allow you to put pre-tax money to cover costs like transportation and parking, and I also know people who get help with paying for toll charges on their daily commute.

  3. Employee Discounts

    I remember being very envy of my friend when he worked for ATI and could get video cards for half price. If you work for a company which makes consumer products (clothes, computers, cars etc), make sure to take advantage of their employee discounts.

    Also, some companies offer discounts for common items like movie, museum tickets through group buys that you can take advantage of.

  4. Emergency Funds

    A few companies have setup ways for employees to donate unused sick and vacation time to help other employees facing emergencies. In general, if you really need to take time off, find out from your supervisor and the human resources department what options you have. It really never hurts to ask.

  5. Tuition

    Your company could be sponsoring you to study, especially if the courses are job-related. These are great because you get to develop your skills and it’s all free (which could be thousands of dollars a year).

    Usually there are rules however that you need to pass the exams (if there are any) so remember not to slack off if you apply.

While big companies usually have more perks, some small companies have some amazing benefits as well. If you don’t find out, how would you know? Try to find out and give yourself an instant raise.

Read This Before Getting Yourself a Christmas Gift

by David@MoneyNing.com · 8 comments

For some of us, the Christmas gift for ourselves this holiday season is just as important as any (in fact, I suggested this as one of the 32 holiday shopping tips).  If you fall into that category, consider the following before making that order.

Get Something That Lasts

Build quality and durability is important but even more crucial is how long the gift we want to buy is going to stay on our “wish list”.  Before we get it, everything is on our wish list but will what we plan to buy really something we will cherish and love?  Nothing will ever last forever of course but the more expensive the gift, the longer it should make us happy.

Waiting Till Last Minute is Crazy

Stop procrastinating and get it once you decide.  I’m famous for my patience before I decide to buy anything and my impatience once I decide.  I can literally contemplate for months (or even years) and once I flip that switch to turn on the buy signal within my brain, I wanted it “yesterday”.  This is bad because one of the few scenario happens:

  1. I really want the next day shipping (which cost more money).
  2. I might go to a store to get it just so I can get it sooner (same consequence as the first).
  3. I really frustrate my family as I keep talking about it until it’s in my hands.

Actually, more than one of those scenarios can occur (all three are possible too, trust me).  So, consider getting it early a simple frugal tip as well as advice for disaster avoidance.

Think Twice If It’s Going to Make Someone Else Upset

There is probably a reason if everyone is telling you not to get something.  Remember that they disagree with you only because they care about you.  Otherwise, they wouldn’t waste the effort.

Also, make sure you aren’t going to get the same thing as a gift from someone else.  I’m happen to think out loud of what I want a lot (it really does get annoying I’m sure) so chances are Emma or anyone else close to me knows everything that I want to get at any moment.  Getting a gift for yourself and then receiving it again from someone else is not good.  If that happens though, at least act surprised and happy because you can return it (the one you got and remember the thoughtful person who was incredibly generous to get you the same thing).

Consider Those That Love You First

Before you spend every penny on yourself, remember those that are close to you.  They (not anything you buy) are the ones that make you happy, joyful and satisfied with life.  People bring joy, not that gadget or handbag.  Buy those people who gave you so much something nice to show them how much they are appreciated and I’m sure you will be much happier than just buying something for yourself.

Frugal Activities for the Christmas Holiday Month of December

by David@MoneyNing.com · 8 comments

Everyone seems to say that Christmas is a pretty expensive holiday but I keep reminding them that nothing is ever expensive unless we choose it to be.  Christmas can be fun, eventful and frugal all at the same time.

Let me share with you some of the activities that you can consider in the next few weeks.  Remember to have fun, enjoy the holidays and not break your piggy bank.

  1. Christmas Walk in the Light (Night)


    Some of you are lucky enough to live in urban cities where corporations spend thousands of dollars decorating their buildings with Christmas Lights so don’t miss the chance to go outside and enjoy it by having a nice walk.

    The rest of us will probably have to look harder but many families will decorate their houses too. There is a whole community close to where I used to live in which every house was filled with lights during Christmas time. It was simply amazing and we would make it a point to just drive over there to enjoy it. (The word seems to have gotten out because there would sometimes be a traffic jam within those side streets in recent years)

  2. Christmas Parties

    christmas parties are lots of fun
    I’m sure many of your companies are having some type of Christmas gathering and it always amazed me that so many people don’t attend. During the Christmas party, everyone is generally much more relax so it’s nothing like the work environment.

    Even though I work at home now, I will be attending Emma’s party as well as my former company’s. (It will sure be exciting since it falls on the same day…)

    You can also host your own party but make sure to send the invitations out really early. If you want to save some money and have variety at the same time, ask everyone to bring food and their favorite brand of alcohol.

  3. Local Events


    Libraries and community centers are great because they always have newsletters that talk about the Christmas events that are happening in the local area. Head on over there if you want to participate because best of all, many of them are low cost (and something free).

    If the event is big enough, even newspapers would talk about it. Last year, I didn’t know that there was actually a Christmas boat show nearby until I saw it on the Sunday paper. It would be unfortunate if I missed it because the display was spectacular to say the least.

  4. Museums and Theaters


    Some museums and theaters actually open for free during special hours in the holiday season. If you are into history or culture (or just want plain curious), find out what offers are near you.

  5. Marketplaces, Town Centers, Malls or Just About Anyplace that People Gather


    Many of these public places will hold special events and themed festivals featuring music, crafts, dance presentations and food samplings for many to enjoy. These are always really fun to go to because not only can you enjoy all the shows, you usually learn something new about a different culture as well.

    Have I missed anything? What do you do that’s both frugal and fun during December for the holidays?

Let Your Children Handle Their Own Finances

by David@MoneyNing.com · 4 comments

let children handle their own finances

Reading the Wall Street Journal’s Sunday column “Yoder & Son” shed light on an incredible easy and effective parenting tip on helping your kids understand personal finance – Let You Children Take Care of It.

Like many, Steve found out about a monthly recurring errant transaction on his son’s checking account statement and started calling the bank when he realized that it was the perfect opportunity for his son Issac to have a money lesson.  So instead of taking care of it himself, he just told Issac about it.

The end result?  Issac got nearly all his money back despite being turned down several times and learned a few lessons:

  1. Never trust someone else with your money.
  2. Banks make mistakes with your money, and most of the uncorrected ones benefit them.
  3. Always check your bank statements.
  4. If you are right, being persistent will lead to your (the right) way.

On the other hand, if his dad took care of it, he would learn:

  1. Nothing.

As parents, it’s understandable to help your kids take care of all these problems but next time the opportunity presents itself, stop in your tracks and let them do it.  They will learn much more doing it themselves than you ever will taking care of it for them.

Below are a list of a few things you may be helping your children do.  Let them start managing it with your supervision.  Like the old saying goes – Practice Makes Perfect.

  • Taxes
  • Managing Banking Accounts
  • Errant Charges Handling
  • Finding a Way to Pay for Tickets (parking, traffic violations etc)
  • Give Them the Freedom to Choose

It’s okay even if your children make mistakes.  We learn from mistakes, and so do they.  If we never even allow them to try when the consequences are arguably lower, how are they supposed to learn so they don’t make them when they are on their own?

To not let them do it themselves is robbing them of the opportunity.  Stop doing everything for them and start today.

How to Plan and Deal With Unexpected Money Drains

by David@MoneyNing.com · 9 comments

unexpected charges can ruin our holidayA man once told me that nothing should be unexpected because we can always expect that something unexpected will happen.  Right now, I’m too upset to figure out whether I agree with this or not because the unexpected occurred to me – I received a bill from my doctor for $100.

“Your health insurance will cover this” is what I hoped for.  “Your insurance didn’t cover Hepatitis A Vaccine. Please pay the balance due” is what I have to deal with.

There’s so much to complain about this bill but instead of the long rant post, here’s how I managed to not let this expensive wreak my budget and my mood (it is close to the holiday season after all).

  1. The Emergency Fund – The tired and true advice of having an emergency fund.  The only reason why we keep coming back to this is because it is truly a life saver.  I know many of you don’t have one, so start contributing to one right away.  If you haven’t set one up yet and feel that you don’t have the means to do so, try starting small because even $25 or $50 a month can add up over time.
  2. Stop Stretching the Budget – In other words, do not live paycheck to paycheck anymore.  We are extremely good at expanding our spending habits, so many of us gobble up as much of the paycheck as we can.  Consider keeping our spending the same when we get a raise, or try the many ways to cut spending.
  3. Dispute It –  If it’s an overdraft fee, try calling your bank to see if there’s a way to get it waived.  As for my bill, my doctor did offer to let me pay with 4 installment of $25 instead of $100 if that helped.  Try to be calm and find a solution instead of being frustrated because the person on the other side of the phone can really help.

Unexpected or not, expenses need to be paid sooner or later.  While it’s easy to feel upset about these charges, some preventive maintenance can keep it from ruining our mood (or in my case, a great start to the holiday season).

Pay the unexpected bills with money we already have and stay cool.

Why Investing in Stocks This Year Was Not a Financial Mistake

by David@MoneyNing.com · 29 comments

In a matter of weeks, I saw my portfolio erode at a rate that I thought was only possible in months/years instead days/weeks. The other day, I was looking at the disastrous performance of my stock investments through financial statements and asked myself one question: “Did I make a financial mistake by investing in stocks this year?”

These “after-the-fact” type questions usually does nothing but make me feel worst but I felt the need to give an honest attempt at answering because being invested this year was by far the most detrimental to my wealth.

As my thoughts race through my brain, the answer became increasing clear to me that starting to invest in stocks was not a financial mistake. The decline was definitely something I wish I avoided, but to call it a financial mistake was just not correct.

To carry on the discussion further, let me share with you some of the notes I took in my imaginary wall:

We Decide Based on Possible Outcome, Not Results.
When I chose to pour my savings into the stock market, it was based on the rational decision that:

  1. Stocks outperformed other asset classes in any 20-year period
  2. I was young enough to have many years of income to cover any potential losses
  3. My time horizon was long

Due to the fact that we can’t predict the future and there’s no “undo/retry” in life, we decide the path to take based on all the facts present.  My investing approach was based on past history and my circumstances. My wealth took a disastrous dive but short term performance was simply not part of my consideration. I’m looking for long term gain, and these types of short term decline was what I was willing to tolerate and should be expected.

I Actually Made the Choice
Indecision is always the worst mistake that one can make.  If I did not decide to begin investing during the good times, there would be no way that I would start now when everything looks dark and gloomy.  As a result, I may never start investing.  It would preserve my capital this year, but earning 3% a year (and being taxed every single year) is definitely not advisable over the long run.

What I Do Consider a Financial Mistake
Let’s face it, many of us lost more money this year than any other. However, financial mistakes should be left for those decisions that we make when the facts points to the likelihood of financial disaster (Taking payday loans, splurging on credit cards without the funds to pay them off immediately, buying a new car just to keep up with your neighbors etc come to mind).

Deciding to start investing in stocks will never be a financial mistake. Ever.

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