TGIF
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Oil short is done,
gold still a good short over $900,
and some opps out there but tough to pick the right ones with confidence.
Best bets are blue chip that have been needlessly oversold in the panic selling of this week.
Deadly strep outbreak in northern Ont. may spread as winter approaches: expert
Thu Oct 9, 1:29 PM
By The Canadian Press
TORONTO - A prominent microbiologist says an outbreak of streptococcal infections that has killed 10 people in northern Ontario could spread across the province and even hit populations further east.
Dr. Donald Low, chief microbiologist at Toronto's Mount Sinai Hospital, says he wouldn't be surprised if the infection migrated by the end of October or November.
On Wednesday, Thunder Bay, Ont.'s health unit announced an outbreak there which has seen 10 die and 75 others infected in the past year.
About half of the Group A streptococcal cases in the region belong to a strain that was unknown in the province until summer 2007.
Low says that strain, called M59, spiked in Alberta and British Columbia in spring 2007 and was likely carried east.
The M59 strain can cause severe illness and death.
Health officials in Thunder Bay say the overall risk to the public from the outbreak is low.
They say "marginalized people have been affected more than most" and add efforts are being directed toward street outreach programs.
Copyright © 2008 Canadian Press
Takva [videorecording (DVD)] = A man's fear of God / bir Yeni Sinemacılar ve Coraźon International ortak yapımı ; senaryo, Önder Çakar ; yapımcı, Sevil Demirci ... [et al.] ; yönetmen, Özer Kızıltan.
GM
Dive City!
Tennessee man indicted for hacking Palin e-mail
2 hours, 46 minutes ago
By Andy Sullivan
WASHINGTON (Reuters) - A Tennessee man has been indicted for hacking into Republican vice presidential candidate Sarah Palin's personal e-mail account, the Justice Department said on Wednesday.
David Kernell, 20, of Knoxville, turned himself in and will appear before a U.S. judge on Wednesday, the Justice Department said. He faces up to 5 years in prison if convicted.
According to the indictment, Kernell accessed Palin's account, gov.palin@yahoo.com, on September 16 after correctly answering a series of personal questions.
Yahoo allows users to change their passwords if they confirm personal information such as their birth date and ZIP code and correctly answer a personal question such as the name of their first pet.
Kernell then posted some of the account's contents, along with the password, to the online message board 4chan.org, the indictment says.
Kernell, known online as "rubico," also posted family members' cellphone numbers and e-mail addresses online, the indictment says.
Kernell is the son of a Democratic state legislator, according to local media reports. The legislator, Mike Kernell, did not immediately return a request for comment.
Palin occasionally used the account to conduct state business, according to media reports. Critics have charged that she uses the account to get around public-records laws.
Palin is the running mate of Republican presidential candidate John McCain in the November 4 election.
Palin spokeswoman Tracey Schmitt called the hack "deeply troubling."
"We are certain that the proper authorities will pursue justice and send a clear signal to reassure all Americans that their personal e-mail accounts cannot be hacked into with impunity," Schmitt said in a statement.
(Editing by Philip Barbara)
Copyright © 2008 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
Copyright 2008 © Yahoo! Inc. All rights reserved.
Well done! The important thing is to end up on positive side of the ledger.
Thanks for heads up .... cheers!
Gold and oil have been very volatile but isn't that to the advantage of commodities traders?
I read that and I am convinced oil will go lower yet.
- I used to have a drug problem, but now I make enough money.
David Lee Roth
pretty good ... real busy
Ilari "Zigmund" Sahamies
Panic grips world stock markets
Module body
LONDON (AFP) - World stock markets plummeted on Monday, striking four-year lows, as panic-stricken investors doubted whether a Wall Street bailout package would stem the global financial crisis.
ADVERTISEMENT
London, Frankfurt and Paris all tumbled more than six percent before pulling back slightly while a 15-percent dive in Moscow forced yet another halt to Russian trading.
"There is all-out panic," said ING senior strategist Adrian van Tiggelen.
"Everyone had hoped that after the acceptance of the package in the US and the bailouts in Europe, things would cam down but in effect, there are still strong fears of the domino effect."
Iceland's stock market suspended trading in all financial shares including three major banks amid reports of a government rescue of the stricken banking sector.
Investors dumped shares after US stock markets had fallen sharply on Friday despite US congressional approval of a 700-billion-dollar bank bailout. Wall Street was due to reopen at 1330 GMT.
In afternoon trade, London was down 5.23 percent, Paris showed a loss of 5.63 percent and Frankfurt shed 5.43 percent.
"We have a seriously weak and fear driven market at our hands," said Tom Hougaard, chief market strategist at City Index. "It is anyone's guess where we will end the day."
On Monday, Tokyo ended down 4.25 percent as Hong Kong shed 5.0 percent, Seoul tumbled 4.3 percent and Sydney lost 3.3 percent. Shanghai dived 5.23 percent and Mumbai plunged 5.78 percent to close at two-year lows.
European stocks plummeted after Germany's fourth biggest bank, Hypo Real Estate, had to be rescued afresh over the weekend -- news that pushed the euro to a 13-month low against the dollar on Monday.
Oil meanwhile tumbled to eight-month lows below 90 dollars a barrel in London and New York as worsening financial turmoil triggered fears about slowing demand for energy.
"The market is not convinced that the US bailout package can protect the economy from the financial crisis," said Toyo Securities strategist Ryuta Otsuka.
Riyadh, the largest stock market in the Arab world, shed almost 10 percent halfway through trading on Monday and shares in other energy-rich Arab states in the Gulf also slumped.
"The Fed's bailout plan may have been passed on Friday but so far there's been no real reaction in credit markets and because of this, the natural assumption is going to be that the measures won't work, even if such a call is rather premature," said CMC Markets dealer Matt Buckland.
Underscoring the worsening conditions in the United States, the world's largest economy, 159,000 US jobs were lost in September, data showed Friday.
"The approval of the financial rescue plan failed to bolster market confidence. Pessimism towards the global economy is running deeper," said Young Wang, an analyst at Yuanta Securities Investment Consulting in Taipei, where stocks ended down 4.1 percent, also at a four-year low.
As the US-centred financial crisis takes a stronger grip in Europe, the German government agreed an emergency rescue package of 50 billion euros (68 billion dollars), for Hypo Real Estate, late Sunday.
It also announced an unlimited guarantee for personal savings deposits.
France's BNP Paribas meanwhile announced Sunday that it was taking control of the operations of ailing financial group Fortis in Belgium and Luxembourg.
The leaders of France, Germany, Italy and Britain vowed over the weekend to protect fragile banks but did not discuss a joint, European financial rescue package.
"Financial stocks are certainly going to be under pressure again with German mortgage lender Hypo Real Estate being the latest to receive state aid but the overall impact is going to cross all sectors with the prospect of slowing demand weighing on all (company) heavyweights," said Buckland.
In an effort to keep credit flowing, global central banks pumped billions of extra dollars into short-term lending markets in what has become a daily effort to keep cash moving in a critical network.
Markets were looking ahead to a meeting Friday of finance chiefs from the Group of Seven rich nations, waiting for any announcements on coordinated action such as liquidity injections or interest rate cuts, dealers said.
A speech Tuesday by US Federal Reserve Chairman Ben Bernanke would also be closely watched for any clues on the possibility of a US interest rate cut.
The Bank of England was expected to cut British borrowing costs by at least a quarter of a percentage point when it meets on Thursday, with many hoping for joint action by the world's central banks.
Panic grips world stock markets
Module body
LONDON (AFP) - World stock markets plummeted on Monday, striking four-year lows, as panic-stricken investors doubted whether a Wall Street bailout package would stem the global financial crisis.
ADVERTISEMENT
London, Frankfurt and Paris all tumbled more than six percent before pulling back slightly while a 15-percent dive in Moscow forced yet another halt to Russian trading.
"There is all-out panic," said ING senior strategist Adrian van Tiggelen.
"Everyone had hoped that after the acceptance of the package in the US and the bailouts in Europe, things would cam down but in effect, there are still strong fears of the domino effect."
Iceland's stock market suspended trading in all financial shares including three major banks amid reports of a government rescue of the stricken banking sector.
Investors dumped shares after US stock markets had fallen sharply on Friday despite US congressional approval of a 700-billion-dollar bank bailout. Wall Street was due to reopen at 1330 GMT.
In afternoon trade, London was down 5.23 percent, Paris showed a loss of 5.63 percent and Frankfurt shed 5.43 percent.
"We have a seriously weak and fear driven market at our hands," said Tom Hougaard, chief market strategist at City Index. "It is anyone's guess where we will end the day."
On Monday, Tokyo ended down 4.25 percent as Hong Kong shed 5.0 percent, Seoul tumbled 4.3 percent and Sydney lost 3.3 percent. Shanghai dived 5.23 percent and Mumbai plunged 5.78 percent to close at two-year lows.
European stocks plummeted after Germany's fourth biggest bank, Hypo Real Estate, had to be rescued afresh over the weekend -- news that pushed the euro to a 13-month low against the dollar on Monday.
Oil meanwhile tumbled to eight-month lows below 90 dollars a barrel in London and New York as worsening financial turmoil triggered fears about slowing demand for energy.
"The market is not convinced that the US bailout package can protect the economy from the financial crisis," said Toyo Securities strategist Ryuta Otsuka.
Riyadh, the largest stock market in the Arab world, shed almost 10 percent halfway through trading on Monday and shares in other energy-rich Arab states in the Gulf also slumped.
"The Fed's bailout plan may have been passed on Friday but so far there's been no real reaction in credit markets and because of this, the natural assumption is going to be that the measures won't work, even if such a call is rather premature," said CMC Markets dealer Matt Buckland.
Underscoring the worsening conditions in the United States, the world's largest economy, 159,000 US jobs were lost in September, data showed Friday.
"The approval of the financial rescue plan failed to bolster market confidence. Pessimism towards the global economy is running deeper," said Young Wang, an analyst at Yuanta Securities Investment Consulting in Taipei, where stocks ended down 4.1 percent, also at a four-year low.
As the US-centred financial crisis takes a stronger grip in Europe, the German government agreed an emergency rescue package of 50 billion euros (68 billion dollars), for Hypo Real Estate, late Sunday.
It also announced an unlimited guarantee for personal savings deposits.
France's BNP Paribas meanwhile announced Sunday that it was taking control of the operations of ailing financial group Fortis in Belgium and Luxembourg.
The leaders of France, Germany, Italy and Britain vowed over the weekend to protect fragile banks but did not discuss a joint, European financial rescue package.
"Financial stocks are certainly going to be under pressure again with German mortgage lender Hypo Real Estate being the latest to receive state aid but the overall impact is going to cross all sectors with the prospect of slowing demand weighing on all (company) heavyweights," said Buckland.
In an effort to keep credit flowing, global central banks pumped billions of extra dollars into short-term lending markets in what has become a daily effort to keep cash moving in a critical network.
Markets were looking ahead to a meeting Friday of finance chiefs from the Group of Seven rich nations, waiting for any announcements on coordinated action such as liquidity injections or interest rate cuts, dealers said.
A speech Tuesday by US Federal Reserve Chairman Ben Bernanke would also be closely watched for any clues on the possibility of a US interest rate cut.
The Bank of England was expected to cut British borrowing costs by at least a quarter of a percentage point when it meets on Thursday, with many hoping for joint action by the world's central banks.
Yikes that does sound scary!
"I am grateful that I am not as judgmental as all those censorious,
self-righteous people around me."
--Author Unknown
A HOLIDAY FROM THE HEART
Cynthia Ross Cravit, 50PLUS.COM - Thu Sep 11, 8:17 AM
Some travellers are looking to dig a little deeper -- for a unique experience, or a way to become immersed in the everyday life of a culture.
Not everyone's idea of an overseas adventure consists of traipsing through museums or photographing cathedrals and monuments. Some travellers are looking to dig a little deeper -- for a unique experience, or a way to become immersed in the everyday life of a culture. This goes to the very essence of travel, as opposed to sight-seeing: the magic of discovery.
Increasingly, people are looking to "volunteer vacations" as a way to do this. Travellers on a volunteer vacation, for instance, might find themselves working alongside community members to build home for a tsunami victim, providing a child in an impoverished village with learning and medical assistance, or helping a farmer in a developing country to upgrade his farming techniques.
Hundreds of short and long term volunteer trip opportunities exist for people of all ages, including students, families, young, middle-aged and retired adults. These opportunities range from health care, construction, and environmental conservation to teaching. Some organizations such as Habitat for Humanity specialize in one particular type of volunteer work -- construction of homes -- while others such as Global Volunteers offer a range of opportunities including caring for orphaned or disabled children, teaching business skills to entrepreneurs in developing countries or working for women's empowerment.
According to its website, Global Volunteers' far-reaching program encompasses six primary categories:
Teaching English language conversation skills:
Volunteer programs are available in China, Ghana, Greece, Hungary, India, Italy, Mexico, Peru, Poland, Romania, Tanzania and USA: Minnesota.
Caring for the disabled or orphaned children:
Volunteer programs are available in Ecuador, Greece, India, Peru, Poland and Romania.
Building and repairing homes and community facilities:
Volunteer programs are available in Australia, Costa Rica, Ecuador, Ghana, Greece, Ireland, Jamaica, Peru, Tanzania, and USA: Minnesota, Mississippi, Montana, South Dakota, West Virginia.
Tutoring and advancing literacy:
Volunteer programs are available in The Cook Islands, Ghana, Greece, India, Poland, Tanzania, and USA: Minnesota, Mississippi, Montana, West Virginia.
Improving basic health care services:
Volunteer programs are available in The Cook Islands, Ecuador, Ghana, Jamaica, Romania and Tanzania.
Vacation packages are generally broken into travel groups ranging from five or six people to several dozen. The duration of each stay varies as well, from a week to several months with prices varying with each program. Many volunteers choose to add sightseeing days onto their program.
Costs for a volunteer vacation may be tax deductible as a charitable donation. For those looking for a means to finance their trip, many organizations offer suggestions for fundraising.
Germany has already bailed out 5 of its banks, which is probably just the tip of the iceberg.
great cartoons!
ty
Under the Gun by John Vorhaus
I just started but if you like poker and are into murder mysteries this seems very promising!
http://www.chapters.indigo.ca/books/Under-The-Gun-John-Vorhaus/9780786019946-item.html?pticket=1lly4h45n2taym45chpct255aNBaYlY%2bmTKJOqiIMI%2btNjl6ex4%3d
Strong quake hits off New Zealand
WELLINGTON (AFP) - A strong earthquake with a magnitude of 6.5 struck off New Zealand on Sunday, the US Geological Survey said, but there were no immediate reports of casualties or damage.
ADVERTISEMENT
The quake hit at a depth of 35 kilometres (22 miles) off the remote Kermadec islands at 9:12 pm (0912 GMT), the USGS said.
Earthquakes are frequent in New Zealand, where the boundaries of continental plates meet as part of the Pacific "Ring of Fire," causing earthquakes and volcanic activity.
"It is of interest to note that while some dolphins are reported to have
learned English -- up to fifty words used in correct context -- no human
being has been reported to have learned dolphinese."
--Carl Sagan
McCain stumbles on advice from Palin
Module body
Wed Oct 1, 4:36 PM
WASHINGTON (AFP) - Republican presidential candidate John McCain struggled Wednesday to respond to a reporter's question on whether he would ask for foreign policy advice from his running mate Sarah Palin.
ADVERTISEMENT
"I've turned to her for advice many times in the past," McCain told a journalist from National Public Radio (NPR), without specifying on what subjects.
"I can't imagine turning to Senator (Barack) Obama or Senator (Joe) Biden because they've been wrong," McCain continued.
"They were wrong about Iraq. They were wrong about Russia ... Senator Obama has no experience whatsoever and has been wrong in the issues that he's been involved in," he said.
"But would you turn to Governor Palin?" insisted the reporter.
"I certainly wouldn't turn to them, and I've already have turned to Governor Palin, particularly on energy issues," McCain responded.
"I've appreciated her background and knowledge on that and many other issues," said McCain, without specifying which ones.
Trying a different tack, the reporter asked: "Does her energy qualification extend to international energy market?"
"Of course," said McCain, adding that Palin's qualifications extend "to a broad variety of issues, from her worldview of the threats that we face of radical Islamic extremism, to specific areas of the world. I'm very proud of her."
Hikers find Steve Fossett's ID, belongings
Module body
1 hour, 21 minutes ago
By Jim Christie
ADVERTISEMENT
SAN FRANCISCO (Reuters) - Hikers in a remote area of California have found clothing and aviation identification cards belonging to millionaire adventurer Steve Fossett, presumed dead after his plane went missing a year ago, police said on Wednesday.
Fossett's family was monitoring developments as authorities in the area where the items were found -- the eastern Sierras between Yosemite National Park and the Nevada border -- rushed to set up a command post to search for wreckage of his plane.
"I am hopeful that this search will locate the crash site and my husband's remains," Peggy Fossett, the missing adventurer's widow, said in a statement.
Local officials provided few details of the personal items recovered by the hikers.
"There was some various paper identification found and some clothing," said Shannon Kendall, a spokeswoman for the Mono County Sheriff's Department. "We have a ground team heading out to search the area."
Kendall told Reuters that wreckage from the small airplane Fossett was piloting when he disappeared was not located with the identification and a sweatshirt discovered by hikers.
They came across the items in a remote part of neighboring Madera County linked by the mountainous area's only road to Mono County.
"It's very rugged alpine terrain," said Lt. Michael Salvador of the Madera County Sheriff's Office. "You hike in or you fly in (by helicopter)."
Fossett, 63, vanished in his airplane after taking off from a private airstrip in Nevada in September 2007.
Despite weeks of extensive land and air searches, no wreckage was found, and he was declared legally dead in February 2008 after investigators concluded that his airplane was destroyed in a fatal accident.
Hiker Preston Morrow told cable TV's Fox News Channel that he had found the Federal Aviation Administration ID cards with Fossett's name on them, along with several $100 bills, while returning from a mountain hike on Monday. There was no sign of any wreckage, he said.
The sweatshirt was found in an area higher up the same mountain ridge by searchers on Tuesday, Morrow said.
"I was coming back down this really steep terrain, and what caught my eye was these little (ID) cards in the dirt and the pine needles, and some $100 bills."
"I see the ID. I caught the name. I got the ID cards ... and about five or six of the hundred-dollar bills (which) were dirty and muddy," he said.
"I was wondering, 'why are there some ID cards and money when there was nothing else?' No wallet, no bags, nothing nothing, nothing," Morrow told Fox News.
Fossett held several aviation and sailing records, becoming the first person to fly a balloon solo around the world in 2002.
He disappeared after setting off from western Nevada on September 3 in a single-engine plane for what friends said was a casual pleasure flight.
(Reporting by Jim Christie, Editing by Steve Gorman)
I am planning on copying vinyl records into MP3 formats. I have looked at Nero and Roxio and I am wondering which one of those or others you consider user-friendly.
tia
Have a great day SUBBERS!!!
"Nations have recently been led to borrow billions for war; no nation
has ever borrowed largely for education... no nation is rich enough to
pay for both war and civilization. We must make our choice; we cannot
have both."
--Abraham Flexner
Ten ways to simplify your life in 2008
With a little upfront effort, you can streamline how you bank, pay bills and track your money. Now is a good time to set up a financial system that will pay off all year long.
By Liz Pulliam Weston
January 03, 2008
It's not your imagination. Managing your money is getting harder.
You have to make a lot more decisions than folks did a generation or two ago.
Instead of one insurance plan, you may need to choose from half a dozen -- if you can afford coverage at all. Instead of an employer-provided traditional pension, you have to manage your own RRSP and figure out not only how much to save but how to invest.
Instead of a single credit card with a relatively low rate -- all that was available to most households in the 1970s -- you probably have a wallet full of options, all with different rates, terms and due dates to monitor.
Talk back: What are your financial goals for 2008?
Fortunately, technology is riding to the rescue. Used properly, it can help you stay on top of your money with minimal effort. These tips from my latest book, "Easy Money: How to Simplify Your Finances and Get What You Want Out of Life," should help you streamline your financial life:
Simplify and de-clutter
Use direct deposit. This should be a no-brainer, but about a quarter of the people who are eligible for direct deposit of their paycheques in the U.S. don't sign up. Perhaps it's an irrational fear of electronic transactions holding them back, but they should get over it. Direct deposit is easier, faster and safer than running around with a live check in your wallet.
Get true overdraft protection. Real overdraft protection links your chequing account to a savings account, line of credit or credit card. Money is drawn from one of these sources if you write a cheque or initiate a debit card transaction for more than you have in your account. The annual cost is reasonable -- $20 to $50 is typical -- and you may pay another small fee anytime you use the overdraft.
What you don't want is "courtesy overdraft" or "bounce protection" that many banks and credit unions automatically offer their customers. That "service" can cost you $30 to $40 every time you make an over-limit transaction, and those fees can add up quickly. One reader racked up more than $200 in bounce fees buying songs for her MP3 player; each 99-cent tune triggered a $30 fee.
Consolidate your accounts. Clutter isn't limited to the tangible stuff in your home. You also can create financial clutter when you have accounts all over the place. Too many accounts make it harder to adequately monitor your money, and you may pay more account fees than if you were able to maintain higher balances in fewer accounts.
For example, you could:
-Roll RRSPs from previous employers into your current plan.
-Combine taxable brokerage accounts. If you have different goals for the various accounts you have now, you could consider maintaining separate accounts but at least consolidating them with the same brokerage house.
-Trim your credit cards. The more cards you use, the more due dates and interest rates you're forced to monitor. If you pay off your balances in full, consider carrying just one card in your wallet, with another at home as a backup. If you're carrying credit card debt, consider leaving all your cards at home. Don't close accounts, since that could hurt your credit scores, but stop using them until you've retired your debt.
Consider two chequing accounts. Consolidation isn't always best. If you have trouble figuring out how much money you can spend and how much needs to be reserved for bills, consider the two-account system. This takes a little effort to set up and monitor, but done right you'll eliminate uncertainty about whether you can cover your bills. What's left in the first account is the cash that's available for spending on clothes, eating out, etc.
A schedule for success
Set up a high-yield savings account. Saving for retirement and paying off credit card debt need to be the first and second priorities for most folks. Once you're on track there, though, you should consider building up an emergency fund, and today's high-rate online savings accounts can help you accomplish that.
Create alerts. Banks, brokerages and credit card companies will send you e-mails to alert you to all kinds of events: when your checking account drops below a certain level, for example, or when your credit card payment is due. Get online access to your accounts and explore the possibilities.
Move your due dates. If you have too many bills falling due at the same time, see if you can shift some to another time of the month. Some credit card companies, for example, will allow you to pick your own due dates.
Create a bill calendar. Even if you have e-mail alerts, you still should have all of your bills' due dates mapped out on a calendar. This can be a calendar on the wall, on your desktop or on your phone. The only requirement is that it be a calendar you look at daily. You're responsible for paying your bills even if you don't receive a statement, and this calendar can help make sure you don't wind up paying unnecessary late fees or inadvertently ruining your credit. (A single skipped payment on a credit account can knock nearly 100 points off your credit scores.)
Pick the no-brainer options. If you really love picking individual stocks or researching the heck out of your mutual fund choices, be my guest. If you want an easier route, though, seek out funds that do the heavy lifting for you. "Life cycle" and "target date maturity" funds not only choose the investments but re-balance them regularly so you don't have to mess with figuring out how much of your retirement fund to put in stocks and how much in bonds.
Don't procrastinate -- aggregate
Monitor your money. People who wait for their statements to arrive in the mail typically catch fraud later than those who monitor their accounts online, according to Javelin Research & Strategy, an online research firm. Real-time access to your accounts can help you prevent overdrafts and over-limit fees, too. You can try bouncing from site to site to check all your accounts, but you have better options.
Your bank may offer account aggregation, which allows you to view accounts held at other institutions. Personally, I prefer personal-finance software programs like Microsoft Money and Quicken. These programs, which live on your computer rather than online, allow you to automatically download transactions and keep track of your finances while providing some powerful financial-planning software. The most recent versions have vastly improved cash-flow-forecast features, which can show you in advance when your chequing account is about to run on fumes. (Microsoft is the publisher of Sympatico / MSN Finance.)
Each of these 10 options requires some upfront effort on your part, but after your systems are in place you'll be able to stay on top of your money in just a few minutes a week. If that isn't a worthwhile goal for 2008, I don't know what is.
Related stories:
Ten ways to simplify your life in 2008
With a little upfront effort, you can streamline how you bank, pay bills and track your money. Now is a good time to set up a financial system that will pay off all year long.
By Liz Pulliam Weston
January 03, 2008
It's not your imagination. Managing your money is getting harder.
You have to make a lot more decisions than folks did a generation or two ago.
Instead of one insurance plan, you may need to choose from half a dozen -- if you can afford coverage at all. Instead of an employer-provided traditional pension, you have to manage your own RRSP and figure out not only how much to save but how to invest.
Instead of a single credit card with a relatively low rate -- all that was available to most households in the 1970s -- you probably have a wallet full of options, all with different rates, terms and due dates to monitor.
Talk back: What are your financial goals for 2008?
Fortunately, technology is riding to the rescue. Used properly, it can help you stay on top of your money with minimal effort. These tips from my latest book, "Easy Money: How to Simplify Your Finances and Get What You Want Out of Life," should help you streamline your financial life:
Simplify and de-clutter
Use direct deposit. This should be a no-brainer, but about a quarter of the people who are eligible for direct deposit of their paycheques in the U.S. don't sign up. Perhaps it's an irrational fear of electronic transactions holding them back, but they should get over it. Direct deposit is easier, faster and safer than running around with a live check in your wallet.
Get true overdraft protection. Real overdraft protection links your chequing account to a savings account, line of credit or credit card. Money is drawn from one of these sources if you write a cheque or initiate a debit card transaction for more than you have in your account. The annual cost is reasonable -- $20 to $50 is typical -- and you may pay another small fee anytime you use the overdraft.
What you don't want is "courtesy overdraft" or "bounce protection" that many banks and credit unions automatically offer their customers. That "service" can cost you $30 to $40 every time you make an over-limit transaction, and those fees can add up quickly. One reader racked up more than $200 in bounce fees buying songs for her MP3 player; each 99-cent tune triggered a $30 fee.
Consolidate your accounts. Clutter isn't limited to the tangible stuff in your home. You also can create financial clutter when you have accounts all over the place. Too many accounts make it harder to adequately monitor your money, and you may pay more account fees than if you were able to maintain higher balances in fewer accounts.
For example, you could:
-Roll RRSPs from previous employers into your current plan.
-Combine taxable brokerage accounts. If you have different goals for the various accounts you have now, you could consider maintaining separate accounts but at least consolidating them with the same brokerage house.
-Trim your credit cards. The more cards you use, the more due dates and interest rates you're forced to monitor. If you pay off your balances in full, consider carrying just one card in your wallet, with another at home as a backup. If you're carrying credit card debt, consider leaving all your cards at home. Don't close accounts, since that could hurt your credit scores, but stop using them until you've retired your debt.
Consider two chequing accounts. Consolidation isn't always best. If you have trouble figuring out how much money you can spend and how much needs to be reserved for bills, consider the two-account system. This takes a little effort to set up and monitor, but done right you'll eliminate uncertainty about whether you can cover your bills. What's left in the first account is the cash that's available for spending on clothes, eating out, etc.
A schedule for success
Set up a high-yield savings account. Saving for retirement and paying off credit card debt need to be the first and second priorities for most folks. Once you're on track there, though, you should consider building up an emergency fund, and today's high-rate online savings accounts can help you accomplish that.
Create alerts. Banks, brokerages and credit card companies will send you e-mails to alert you to all kinds of events: when your checking account drops below a certain level, for example, or when your credit card payment is due. Get online access to your accounts and explore the possibilities.
Move your due dates. If you have too many bills falling due at the same time, see if you can shift some to another time of the month. Some credit card companies, for example, will allow you to pick your own due dates.
Create a bill calendar. Even if you have e-mail alerts, you still should have all of your bills' due dates mapped out on a calendar. This can be a calendar on the wall, on your desktop or on your phone. The only requirement is that it be a calendar you look at daily. You're responsible for paying your bills even if you don't receive a statement, and this calendar can help make sure you don't wind up paying unnecessary late fees or inadvertently ruining your credit. (A single skipped payment on a credit account can knock nearly 100 points off your credit scores.)
Pick the no-brainer options. If you really love picking individual stocks or researching the heck out of your mutual fund choices, be my guest. If you want an easier route, though, seek out funds that do the heavy lifting for you. "Life cycle" and "target date maturity" funds not only choose the investments but re-balance them regularly so you don't have to mess with figuring out how much of your retirement fund to put in stocks and how much in bonds.
Don't procrastinate -- aggregate
Monitor your money. People who wait for their statements to arrive in the mail typically catch fraud later than those who monitor their accounts online, according to Javelin Research & Strategy, an online research firm. Real-time access to your accounts can help you prevent overdrafts and over-limit fees, too. You can try bouncing from site to site to check all your accounts, but you have better options.
Your bank may offer account aggregation, which allows you to view accounts held at other institutions. Personally, I prefer personal-finance software programs like Microsoft Money and Quicken. These programs, which live on your computer rather than online, allow you to automatically download transactions and keep track of your finances while providing some powerful financial-planning software. The most recent versions have vastly improved cash-flow-forecast features, which can show you in advance when your chequing account is about to run on fumes. (Microsoft is the publisher of Sympatico / MSN Finance.)
Each of these 10 options requires some upfront effort on your part, but after your systems are in place you'll be able to stay on top of your money in just a few minutes a week. If that isn't a worthwhile goal for 2008, I don't know what is.
Related stories:
* Doom and gloom ahead in '08?
* Getting in sync with your advisor
* Easy money resolutions for the New Year
Bottom prolly not far but I feel we are not quite there. Meanwhile gold looks good.
Toronto stock market closes down more than 800 points after bailout defeated
Kristine Owram, THE CANADIAN PRESS
September 29, 2008
TORONTO - The Toronto stock market fell more than 840 points Monday, one of the biggest one-day drops in its history.
It was a roller-coaster ride all afternoon after the U.S. House of Representatives defeated a US$700-billion bailout plan for ailing financial institutions.
At one point, Canada's main stock index plunge was down as much as 955 points Monday.
Toronto's S&P/TSX index recovered later and ended the day down 840.46 points at 11,285.54, meaning the market lost about $100 billion of its value in one day.
Stock markets in New York also plummeted on the news.
The Dow Jones industrial average lost 748.21 points to 10,394.92, it's biggest point drop on record.
Is your travel budget taking a hit? Indulge your love of culture, history and nature with these free or nearly-free activities.
Who says everything travel-related has to be expensive? Rising fuel costs and airline fees are certainly taking a bite out of everyone's travel budget, but free or almost-free activities can be found just about anywhere. Whether you're staying close to home this year or heading overseas, here are some suggestions to get you started:
Take a walking tour
You already know about the many benefits of seeing a place on foot, including the low cost. You can download materials from the Internet or pick up free brochures at your destination to guide you on your way. Many historical programs or volunteer organizations also host guided tours, if you know where to look for them. For more information, see Your Guide to Walking Tours.
Cycle in the city
Looking to pick up the pace? Cycling is growing in popularity and offers many of the same benefits of walking, but with a little more speed. According to a recent article on MSNBC, many major European cities such as Copenhagen and Helsinki offer free bicycle sharing programs. Other cities such as Paris, Rome and Vienna do charge for rentals, but the first half-hour is usually free and day- or week-long passes are reasonably priced and often cheaper than taking a taxi or the subway. Watch for this trend to make inroads Canadian and U.S. cities in the near future.
You can even make cycling a major part of your vacation. Many airlines, buses, and trains let you bring your own bike onboard as for free in an effort to promote environmentally-friendly practices. Many cities offer bike trails and paths, and self-guided bike tours and travel guides are appearing online. Look for guides such as Air Canada's onAir which has a Paris by Bicycle route or contact a local cycling organization for ideas.
Have fun at a festival or outdoor event
Local events aren't just for the locals, but they will take a little research to find:
- Look for parades around major holidays and events such as Mardi Gras, St. Patrick's Day, Chinese New Year, local arts or cultural festivals and special events. What better way to see lively costumes, music and dance?
- Free theatre performances and concerts are held throughout the summer. Picnic in the park while watching Shakespeare, or attend a recital lunchtime recital at a local opera house. Concerts are a great way to try out new types of music like jazz, opera, classical, folk and blues.
- Many places around the world also offer outdoor cinemas, many of which you can attend at no cost. Look for movies you wouldn't see in your hometown, and ask about subtitles if language barriers are an issue.
- Food, music or cultural festivals often have free events. Visit the arts and crafts merchants who attend, and take the opportunity to try ethnic foods.
Go to a gallery or museum
You may want to spend a little more time in London, England when you find out how many museums are free to visit, or work your schedule around free admission events to some of the top museums and art galleries around the world. Here's what to look for:
- Permanent collections: The Smithsonian, the Museum of Fine Arts in Montreal, and many major museums and galleries through the United Kingdom are some the institutions that don't charge a fee to visit their permanent collections. Special or touring exhibitions usually carry a cost, but access to the permanent collection is free with your ticket.
- Special events: Look for an annual open house event when admission fees are waived. This could be a city-wide or cultural event, or particular to the museum. Watch for free admission on national or municipal holidays, World Heritage Day (April 18) and World Tourism Day (September 27).
- Regular times: It might be three hours per week or a day each month, but many institutions have a regular time where anyone can visit for free. For example, admission to the Louvre and the Musée Eugène Delacroix is free the first Sunday of every month and the Vatican Museums waives its fees on the last Saturday of every month. Many countries throughout Europe and Asia are currently testing out free admission days.
Peruse a public building
Looking for interesting architecture, history and art work? Public buildings might not be the first places that come to mind, but they're often attractions in their own right.
- Churches, monasteries and other places of worship (both big and small) welcome visitors. Notre Dame de Paris and the Pantheon in Rome are on many people's must-see lists, but Buddhist temples, Hindu temples and mosques offer different cultural and religious learning experiences. You may need to call ahead, and be aware of any customs like dress codes.
- Many municipal, provincial and federal government buildings won't charge you to tour or attend special events. For example, Ottawa's Parliament Hill has free outdoor and indoor guided tours during tourist season, and free events on the grounds. Visitors to Washington D.C. can take a guided tour of Capitol Hill by reserving free tickets. In general, some areas may be closed while parliament is in session, but some parliaments like England's permit overseas visitors to watch debates and hearings. Before you go, make sure visitors are welcome and read up on security procedures.
- Many public ceremonies are free to watch, such as the changing of the guard at Ottawa's Parliament Hill or at London's Buckingham Palace.
- Look for events such as Canada's Doors Open that grant access to buildings that are normally closed, or offer free admission to ones that usually charge. These events usually last a day or two, and can include other activities such as guided tours.
- Libraries and archives also have interesting exhibitions drawing on their collections. Canada's Library and Archives have free exhibitions as well. The University of Cambridge's Museums, Collections and Libraries offer free admission that include art, archaeology, culture, natural history and gardens.
One word of caution: Make sure photography is permitted before you wield that camera. In today's tight security environment, it's risky to take pictures of anything having to do with the military or transportation services.
Meander through a market or shopping district
Whether you're touring London's Piccadilly Circus, Toronto's Kensington Market or a local farmers' market or flea market, your only cost will be items you decide to purchase. Markets are a way of life in many parts of the world, and a great place to find local arts, crafts and textiles. Sharpen your negotiating skills and get some great deals on souvenirs. You can also find fresh local produce to prepare your own meals.
Focus on the atmosphere: the sounds and smells are part of the experience, not just the sights.
Doubting the deals?
If these activities sound too good to be true, perhaps you're right to be a little suspicious. The one pitfall to free activities is that they are very popular -- which means there's the potential for crowds and long line ups. Your time is important, so it might be worth the cost to book a ticket in advance or see an exhibit at a more convenient time.
On the other hand, crowds are inevitable if you're travelling during peak season, and paying for an activity doesn't mean you'll avoid long waits. When in doubt, call ahead and ask how busy the event is likely to be, and how early you should get there to line up.
Where to find the facts:
Fortunately, details on free activities aren't top-secret. Here's where to look:
- Official tourism web sites -- look for national, provincial or municipal sites for activities and links.
- Try an online database like the World Events Guide or Whatsonwhen.com.
- Museum, gallery and historical society web sites have information about admission costs and special events.
- A good guide book, whether it's online or in print, can be an invaluable source of information.
One final word of advice: Always double check the dates. It's not hard to find out of date information on the Internet, and the dates and times of annual events often change from year to year.
Spokeswoman for Paul Newman says the legendary actor has died at 83
Module body
44 minutes ago
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* What's this
By The Associated Press
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NEW HAVEN, Conn. - A spokeswoman for screen legend Paul Newman says the actor has died at age 83.
Marni Tomljanovic says Newman died Friday of cancer. No other details were immediately available.
Newman was nominated for Academy Awards 10 times, winning a regular Oscar in 1987 for "The Color of Money" and two honorary ones.
He was equally at home in comedies such as "The Sting" and dramas such as "Hud."
He sometimes teamed with his wife, Joanne Woodward, also an Oscar winner for the 1957 film "Three Faces of Eve."
Toni Turner has a great little book on Online Trading. Simple and to the point ... I learned a lot from that book.