The monetary crisis in Cyprus scares the pee out of me.
Forget that it's "over there" (Cyprus? where IS that exactly?)...forget that it's part of an economic union that was ill-conceived (if you are solvent, why would you join monetary forces with potential deadbeats?)...forget any thoughts about the REALLY BIG depositors (Russians? who cares? those money launderers get what they deserve)...and focus on what's happening to the people who went to work every day, lived below their means, and saved their money. 100,000 euros may sound like a pie-in-the-sky fortune, but it's about $130,000 U.S. or L85,000... think about it. If you've been socking your money away for an emergency fund, retirement, your 401K, IRA's, YOU may have that amount or more. And now you're in danger of having a portion of it taken from you without your consent. I call that robbery. It's also a violation of trust. You put your money in the bank, you trust you can get it out whenever you want. Not true if your money is currently in Cyprus where the banks are closed, ATM withdrawals are limited, and cash is now king. CASH, not credit cards, not debit cards and certainly not checks. Cold hard cash.
My acorns are not in Cyprus; they are in financial institutions to which I have immediate access, but questions arise... if I were to cash out today, where would I put the acorns?
Don't think that the Cyprus scenario couldn't happen to you, think that it COULD and think about the alternatives.
I think I need a bigger mattress.
Penny Pincher
Tuesday, March 26, 2013
Sunday, March 17, 2013
Frugal Doesn't Mean Deprived
My latest power bill was waiting to be paid this weekend: $44.38 for 29 days, total 75 KWH used.
As I've said before, where I live power is EXPENSIVE. When the 2011 U.S. average cost of electricity was a jealousy inducing $0.12 per KWH, my present rate of $0.59 per KWH is exorbitant (and more costly than Hawaii.) However, I regard any month with a power bill less than $50 to be a time for celebration. I rejoice that my average daily consumption is down from 4.13 KWH in December to 2.59 KWH in March. A small victory.
But I know that power consumption will rise in summer with fan use to combat the heat, and the total bill will also increase because of a rising fuel surcharge. The good news is that the tankless water heater I had installed has had no measurable effect on my power bill and I've been blissfully enjoying HOT showers this winter. When the water is tepid in summer I won't be using the tankless on-demand water heater. Life is a trade-off -- water heater in winter, fans in summer.
Storage is now ancient history. I was appalled to see how much c/s I'd boxed. What was I thinking? I ended up keeping only a 20 inch x 14 inch x 13 inch metal box and what could fit inside (which included a handmade double bed quilt) and shipping it home via the USPS. The rest I dumped. All gone. Toast. Good riddance. But the experience has made me rethink future acquisitions. "Love what you have, have what you love" are words I live by. I find I'm walking out of the flea market empty handed more often than not. That's a good thing. I don't feel deprived in any way, I feel liberated from the tyranny of stuff.
Penny Pincher
As I've said before, where I live power is EXPENSIVE. When the 2011 U.S. average cost of electricity was a jealousy inducing $0.12 per KWH, my present rate of $0.59 per KWH is exorbitant (and more costly than Hawaii.) However, I regard any month with a power bill less than $50 to be a time for celebration. I rejoice that my average daily consumption is down from 4.13 KWH in December to 2.59 KWH in March. A small victory.
But I know that power consumption will rise in summer with fan use to combat the heat, and the total bill will also increase because of a rising fuel surcharge. The good news is that the tankless water heater I had installed has had no measurable effect on my power bill and I've been blissfully enjoying HOT showers this winter. When the water is tepid in summer I won't be using the tankless on-demand water heater. Life is a trade-off -- water heater in winter, fans in summer.
Storage is now ancient history. I was appalled to see how much c/s I'd boxed. What was I thinking? I ended up keeping only a 20 inch x 14 inch x 13 inch metal box and what could fit inside (which included a handmade double bed quilt) and shipping it home via the USPS. The rest I dumped. All gone. Toast. Good riddance. But the experience has made me rethink future acquisitions. "Love what you have, have what you love" are words I live by. I find I'm walking out of the flea market empty handed more often than not. That's a good thing. I don't feel deprived in any way, I feel liberated from the tyranny of stuff.
Penny Pincher
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