"We're consumers. We are by-products of a lifestyle obsession. Murder, crime, poverty, these things don't concern me. What concerns me are celebrity magazines, television with 500 channels, some guy's name on my underwear. Rogaine, Viagra, Olestra."
-Tyler Durden
When Crass Cash was just a little tyke, I went over to Crass Cash Sr. house on a typical weekend for a visit. I was a shy little boy at the time, so when Cash Sr. asked me what I wanted for Christmas I sheepishly responded, "I don't know." hoping that he would give me more attention and pry it out of me.
When Christmas rolled around and it was time to open gifts with Cash Sr, there was one problem. THERE WERE NONE! His response, "You didn't tell me what you wanted, so I didn't get you anything."
At the time it taught me a very valuable lesson. When somebody asks you something SPEAK UP! Now that I'm older it taught me an equally important lesson. Do you know what I wanted and did not receive? No? Well that makes the two of us because I don't remember either! Come to think of it I don't remember any of the gifts I received except for maybe 3. All of which I never use anymore, but I have to admit I did enjoy them at the time.
In most non-consumeristic societies, Christmas consists of 1 gift, not a dozen. This makes children think and prioritize what they really want. This is a very valuable skill to grow up with because you eventually realize that you can't have everything you want. In case you haven't learned that you can't have a talking unicorn that speaks English and shits rainbows. I'm sorry to burst your bubble. Merry Christmas!
-CC
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What's the cheapest and easiest way to get money in a foreign country? Believe it or not it's ATMs. There are some arrangments that you have to make prior to leaving though. Always call the card companies and tell them that you'll be gone and when you'll be back. A debit card is worthless if you can't use it. Set your pin at 4 digits (some atms don't let you put in more than that). Be sure to have an account that reimburses you for ATM fees all over the world. Banks like Charles Schwab and Trustco pay you back for the ATM fees you incur. They do this because it's cheaper than having to manage a whole slew of ATMs at their own expense. Also when you get money from an ATM overseas you get the best exchange rate. I used my on a recent trip to prove all of this with real world examples. Here's how it's broken down... My bank reimbursed me for fees and there was only about a 1.5% spread between the market rate and when Charles Schwab charged me. This is incredibly efficient! But what if there are no ATMs in the airport? I've never run across this, but let's say that it does happen. It's always a good idea to take say $100 in clean $20s with you no matter where you go. The airport will always have money changers. These money changers will charge you around 4-5% of your trade. This is the second best option. But let's say for some reason there also aren't any money changers. If this is the case than you're in a third world country and the people in that country will gladly take your American dollars because they have a shit currency. One advantage of being an American is that we have the reserve currency of the world. Even foreignors take our currency with them when they travel. Poorer countries love American dollars and sometimes prefer them to their own. With that said they may not give you the best exchange rate when you buy something. What not to do: do not get currency from the bank prior to leaving. This may sound scary, but unless you enjoy getting ripped off, don't do this! I've seen people doing this and when I examine the bank receipt they end up paying between 10-20% of a fee for exchanging them! 10-20%!!!! 1. Take both a Visa and MasterCard debit. 2. Make sure your bank will reimburse you for ATM fees. 3. Get money from the ATM at the airport. 4. Always take $100 just in case. "I saw my life as an arc and that it would end, and compared to that nothing mattered. You're born alone, you're going to die alone. And does anything else really matter?"
-Steve Jobs They say there is safety in numbers. When it comes to planning for your untimely demise, apparently this is true also. There's a growing trend in this country where people are getting together and talking about their deaths. They do this to help plan for it. They're calling them, "Death Planning Dinners". This is where a group of friends or strangers get together and talk about their death. From a psychological stand point it helps alleviate the anxiety. From a financial stand point it helps the planning. Attending these dinners helps couples or individuals think about planning for their own death or their spouse and also retirement in general. It is an excellent way to get ideas and to exchange information that other people have already researched. If you're able to get a lawyer or a tax CPA in on the dinner that's a double whammy of sweetness. However, you might even suggest to either of them that they try organize a dinner like this, resulting in some potential business. These dinners are designed to allow for a small intimate setting that will allow for people to open up about how they want things to end with their wife, family, and friends. I highly recommend you attend one of these if you get the chance. If you haven't been to one, look at organizing one. Here's some discussion ideas to get started... 1. Health insurance 2. Life insurance 3. Wills 4. Emergency fund 5. Debt 6. College Savings Plan 7. Taxes -CC |
AuthorThis website was created due to the atrociously misguided financial advice that I've heard over the decades. Financial freedom is not intellectually strenuous, but it takes discipline. Categories
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