Zecco Trading Promotion – Investing While Trades are Free and Stocks are Cheap

Zecco is offering free trades for the month of October so I opened a Zecco account for my wife and I yesterday at the online brokerage. Once ACH funding through our bank account is setup I’ll transfer over some money and start investing.

I will probably stay away from individual stocks and purchase ETF’s.  Since trading is free, I plan on buying ETF shares everyday between now and the end of the month.  Prices in the stock market seem pretty low right now in general so I figure it’s a good time to invest some money. 

Timing the Market?

Of course I don’t know what the market will do and what I’m doing is basically timing the market so it’s kind of a risky move.  However, for a variety of reasons that I’ll explain later we haven’t been putting much money into the market for the last several months so we have cash sitting around in a high-yield savings account.

Rather then dump all the money in on one day, I will spread it out and buy shares everyday. Since there are no commission’s with Zecco for the rest of the month I won’t incur any trading fees that typically take a bite out of investment performance.  I’ll let you know how my experience of investing with Zecco goes.

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Prosper Adding Secondary Loan Market, Lending Club Soon to Lend Again?

Prosper is going through a process to “register, with the appropriate securities authorities, promissory notes that may be offered and sold to lenders through our site in the future” so that they can offer a secondary market for loans.

During the registration process, Prosper is having to go into somewhat of a holding pattern, the details are described in the email I recieved below.  Another peer to peer lending company, Lending Club, started a similar process months ago but I have reason to belive that Lending Club will begin accepting new members again in the coming months.  Below is the email I recieved from Prosper:

The registration filing is a necessary step toward making the secondary lending market available to the community. This is something many of you have been asking for, and we believe the liquidity of a secondary market will make Prosper even more vibrant.

Until we complete the registration process, we will not accept new lender registrations or allow new commitments from existing lenders. If you’re an existing lender, your current lender agreements will be unaffected; your existing loans will continue to be serviced; you’ll be able to track and monitor your loans; and you’ll be able to withdraw funds from your Prosper account.

If you’re a borrower with an existing loan, you will continue with your current borrower agreement and be unaffected by the registration process. If you’re a borrower seeking a loan, you will still be able to create a new loan listing, which we will endeavor to fulfill through alternative sources.

A successful registration can take several months, but we assure you we will do our best to move forward as quickly as possible. Until this process is complete, we’re required to be in a quiet period and will be unable to respond to press, blogger or other inquiries about Prosper or the registration filing until it becomes effective.

We apologize for any inconvenience this may cause, and want to thank you in advance for your understanding and support.

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Dragon NaturallySpeaking Review

Dragon NaturallySpeaking is speech recognition software that allows you to dictate your content to your computer without having to type in everything by hand.

I am actually using Dragon NaturallySpeaking to write this review.  You may remember that I have had problems with repetitive stress pain in the past and used Dragon NaturallySpeaking for a while.

Repetitive Stress Strain

The amount of typing I did at my day job was reduced considerably about a year ago when I took on a new position and did more managing than coding.  Now that I have a new job I’m  spending a lot more time on the keyword and it is taking its toll on my wrists.

This had me worried since I spend a lot of time typing articles, and e-mails, and various things for Money Smart Life. It didn’t want to stop writing but my wrists really need a rest.

The good news is that Dragon NaturallySpeaking allows me to continue “writing” without adding to the problem of repetitive stress strain.

Here are some of the features that Dragon NaturallySpeaking offers:

• High accuracy levels for speech recognition
• Dictate and edit in most Windows application, including Microsoft Word, Internet Explorer, Mozilla Firefox and AOL
• Create and edit documents and spreadsheets, compose emails and instant messages, or surf the Web just by speaking
• Quick Voice Formatting commands allow users to issue a single voice command to make deleting and formatting text faster than ever
• Use the included high-quality headset, work with a Bluetooth microphone, or even dictate into a digital recorder when away from the PC

One of the things they mention is using Dragon NaturallySpeaking to avoid repetitive strain injuries – “By using voice to control the PC and create documents, users reduce their risk of developing repetitive strain injuries, such as carpal tunnel syndrome.”

New Features

I am still using an old version of Dragon, version 7, but there are features in the latest version, version 10, that sound very useful so I may upgrade.  I particularly like the handheld dictation feature:

Dictate into a handheld recorder for later transcription
Be productive on the go. Users can dictate into any Nuance-certified digital recorder when they’re away from the office for automatic transcription when it is synched with a PC.

This would be great for my commute, I could record my thoughts on my drive and upload them when I get home, pretty slick.

Dragon Naturally Speaking Reccomendation

Anyhow, I would recommend Dragon NaturallySpeaking to anyone looking for speech recognition software or a dictation tool.  It is helping me keep writing despite repetitive stress issues so I can’t say enough good things about it.

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Selling Stock Short – Who Sells Short and How they Profit From It

Selling stock short has been in the news a lot recently since stocks across the board have been dropping in price and many speculators have found it a good opportunity to make some money.

Short Selling Example

Short selling is based on the fact that people believe the price of stock will go down.  It is easiest to explain with an example, so let us say a short seller thinks company ABC, which is currently at $40, will drop in value.

They could borrow shares of stock from their broker, sell them for $40, and deposit the proceeds in their account.  Then, if the stock price goes down, say to $30, they buy back the number of shares they borrowed and return them to their broker.  They just made $10 a share, using “borrowed” stock.

Risks of Selling Short

Of course the risk is that the price will go up and the short seller will have to buy back stock at a higher price and lose money.  Although the upside is limited to the difference between the stock price when they borrow the shares and $0; the downside is potentially unlimited.  The higher the price of the stock goes, the more money the short seller can lose.

There is a tool that short sellers can use called a stop loss order that triggers a stock buyback once the price goes above a certain point. Although it will force them to lose money, the stop loss order will limit the loss.

Short Selling Strategies

Some investors use short selling as a way to offset the risk that stock they already hold will go down.  For example, if they own 100 shares of company ABC and are concerned the stock price will drop, they can borrow a certain number of shares of ABC and sell them short.  If the stock price plummets and their 100 shares lose significant value, they will recover some of that from the short sale.

Other people sell a stock short simply because they sense an opportunity when a company’s stock price is faltering.  Over the last several weeks, when many stocks have been dropping, some traders have used short selling to their advantage.  There are claims that short selling contributed to the drastic drop in share price of some of the bank stocks. 

The government put a ban on short selling for a few weeks in September to prevent short selling from further eroding the stock market value but that ban has been lifted.  If you are thinking of selling a stock short, make sure you’re aware of the potential fees you have to pay the broker and what you are at risk of losing if the stock price goes up instead of down.

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FNBO Direct ATM Card

 

My FNBO Direct ATM card came in the mail yesterday. I’m using the account for long term savings so I don’t anticipate needing regular access to the money in the near future but the ATM card will be nice to have if I need it.

I also got an email about FNBO’s Pay Yourself First Challenge, the bank’s promotional effort to encourage a higher rate of savings in the US. Here is a blurb about the challenge.

The Challenge will follow five everyday people in their quest for savings greatness by using the Pay Yourself First method. FNBO Direct will match, dollar-for-dollar1, what each of the five finalists has saved at the end of the Challenge. The grand prize winner will also be whisked away to a luxurious spa destination to restore his or her personal balance.

Pay Yourself First means depositing your paycheck into an FNBO Direct Online Savings Account (OSA). When bills are due you simply transfer just what you need from savings to your FNBO Direct Online BillPay account. Whatever’s left over – whether it’s $25 or $500 – stays in your OSA and earns an interest rate that is seven times higher than traditional saving accounts

I checked out the finalists, Tim’s video about quitting his job was pretty funny so I gave him my vote.

Click Here to get your own FNBO Direct ATM card.

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Free Stock Trades with Zecco and $100 Bonuses

Free Stock Trades

Zecco has always offered free online stock trading for your first 10 trades of the month but in October, they are running a promotion where they’re offering unlimited free stock trades. Zecco is charging no commissions for equity or options trades from 10/1/2008 – 10/31/2008.

$100 Bank Signup Bonus

Citibank is running a promotion through the end of the year where they’re giving a $100 bonus for opening a checking account.  You have to be a new customer to qualify, find out more about details here.

$100 Bonus from American Express

American Express is giving away 10,000 membership rewards points for opening a Preferred Rewards Gold Card.  The promotion earns you membership points which you can redeem for a $100 gift card.

That’s it for the money making deals this week. You can stay tuned to the latest updates on the deals site by subscribing here.

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Barack Obama vs John McCain – Who Cares?

Four years ago I poured my heart into the presidential election but this year I’m ashamed to say that I am a horrible citizen.

The Political Campaigner

Last election I took time off of work to campaign for the candidate I thought would be best for the country.  I knocked on doors, made phone calls, put up yards signs, made financial donations, and attended rallies.

The Political Abstainer

I am sad to say that for me this has been the tale of two elections. I have contributed absolutely nothing towards the election process this time around. I haven’t watched debates, researched the candidate’s positions on the issues, donated money, volunteered, or even put on a lousy bumper sticker. 

What’s My Problem?

The issues now are no less important. Our country is in a bigger mess now than it was four years ago. But honestly, I’m feeling a bit discouraged with the whole process.

So despite the fact the post title that asks “Barack Obama vs John McCain – Who Cares”, let me assure you I do care who wins. I’m just weary of the wasteful grind we have to endure to get there. Elections seem kind of like a senior prom.  Everyone spends so much time and money preparing for the big night and anticipating the grand finale but they forget that shortly after it’s over they have to graduate into the real world and face real issues. 

The Morning After

Sometimes I feel like we are all a bunch of high school kids getting ready for that prom.  It doesn’t matter who is crowned prom king, who we hang out with, how hard we laugh, who we dance with, or whether our heart is broken — the following morning will always arrive much sooner than we’re ready for.

All the money we spend, the petty quarrelling about dates and plans, the anticipation, the stress — are all for naught when the sun rises the next day.

Expensive & Divisive Elections

In our elections “we the people” spend countless amounts of time, energy, and cash driving relentlessly towards a single goal of getting the most votes for our candidate.  But no matter who wins, we still have the same issues to deal with the following day, just after the country finishes spending an enormous amount of time, money, and momentum on the election.

I will still vote on Election Day, I’ll cast my ballot for the good guy; the candidate I think our country needs the most right now.  But I am feeling a little discouraged with the campaign process: the multitude of promises, the word games and number twisting, and most of all the ridiculous attacks that pop up when campaign advisors start to feel desperate.

After all of that, I needed a laugh, the video below sums up my mood pretty well and is pretty funny. Don’t worry, It’s a bi-partisan laugh, pokes fun at both parties : ) Press the play button to watch the video.

The ending resonate with me that’s how I feel about the process sometimes:

“… citizens gather from both far and near, for a ritual we practice every four years, when we promise you anything you want to hear… to win the crown we’re chasing!

We spend billions of dollars to make our points clear and to get you to step up and cast your vote here

Then we spin you around and poke you in the rear … it’s time for some campaigning!”

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Career Advice to Help You Get Ahead & Feel Good About It

So what’s the secret to getting ahead at work? I asked my co-workers for their best career advice when I surveyed my peers for professional feedback as I left my last job.  Here’s how I worded it:

“Please share one piece of advice that has been the most valuable for you in furthering your career and professional development. Make it your best career tip, the one that’s been most effective for you”.

I got an interesting mixture of tips ranging from work/life balance, to avoiding embarrassing mistakes, to acting like you know what you’re talking about when you’re in charge.  I worked with a lot of these people for many years and for the most part they’re pretty smart and reasonable workers so check out the tips that have served them best in their career:

Be Honorable and Decent

I have always tried to do the honorable and decent thing. I’m not sure that it has helped my career in a tangible sense, but I am glad that I have done it even if it hasn’t.

If something goes wrong, it is better to confess and fix the problem than conceal the problem. The cover-up is almost always worse than the original problem.

It is much better to deliver bad news in advance than it is to deliver it by surprise at the last minute.

Take a Deep Breath & Pause

Take a few minutes before responding to anything.  Read that email or listen to that voicemail several times before responding – especially if it is a high pressure/client sensitive situation.  The initial reaction to a message may not be what the sender intended as well as you may find an alternative message you wish to convey and if you react quickly, you may miss the point or miscommunicate.

Work to Live, Don’t Live to Work

Don’t put your ALL in your work, share some with your LIFE.  After being sick, it was very clear that jobs, projects, and other highly prioritized events in my life could vanish overnight.  Your family, friends, and things you enjoy should get the best time and attention you’ve got.

Learn and Record

Ask lots of questions and take lots of notes!!

Issue Management

No matter what, there are only three ways to deal with a bad situation:
1.  Talk to someone to see if you can change it;
2.  Leave the situation;
3.  If none of the above work, change your attitude.

Management Tip

When in a management position, you do not have to know the answer to everything. Be prepared to know how to get the answer.

Always Be Positive

always stay positive around your peers. a positive attitude, no matter how much you don’t like a situation, will go further is being successful, than you will ever get by following the crowd of people that bitch about how bad things are going….

Don’t Over-Worry

If you can’t control it, worrying about it is a waste of time.

Learn the Rules

Procedure, procedure, procedure!  Especially in Corporate America, you have to know how things get done.  If you don’t know, ask.  You have to know what the proper procedures are before you can know how to bend them without breaking them.  And as a programmer, you will have to bend them sooner or later.

Put Family First

Don’t sacrifice family time for more pay and responsibility at work.

If you’ve gotten something out of the series of career tips I’ve been running over the last few weeks, click here to subscribe to Money Smart Life for more money tips and advice for a better life!

Have any career advice of your own that you’d like to share with everyone? Feel free to leave your tip in the comment section below.

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Energy Saving Tips to Help Lower Your Heating and Cooling Bills

Programmable thermostats and window treatments can keep down the costs of staying cooler in the summer and warmer in the winter.  Here are some other minor home improvements you can make to your home that can have a major impact on your energy bill:

Change to CFL Bulbs. Americans could save close to $8 billion in energy costs by replacing each home’s five most frequently used light fixtures with CFL bulbs. CFL Bulbs use up to 90 percent less electricity than incandescent bulbs and are now available in dimmable and spot light bulbs.

Choose ENERGY STAR appliances. Save money and the environment by replacing standard model appliances with ones that are ENERGY STAR-qualified. ENERGY STAR-qualified appliances use 10-50 percent less energy and water than standard models.

Update your exterior door. An ENERGY STAR-qualified exterior door with built-in weather stripping offers five times the insulating value of a solid wood door.

Update your windows. ENERGY STAR-qualified windows can reduce your energy costs by $126-$465 per year when replacing single-pane windows or $27-$111 a year when replacing double-pane, clear glass windows. For a quick fix, add heat control window film to your windows and save up to 50 percent on your cooling costs.

Install dimmer switches and motion detectors. Dim the lights by 25 percent and save an average of 15 percent a year on energy costs, and extend the bulb life by four times. By adding motion-sensitive exterior lighting and adding dimmer switches indoors where appropriate, you can control the wattage, saving you on your energy bills.

Install a ceiling fan. Ceiling fans can save you $10 a year on utility bills, plus the additional air conditioning or heating savings gained when a fan is operated properly. ENERGY STAR-qualified ceiling fans use 50 percent less energy than standard fans and circulate 25 percent more air.

Regularly maintain your furnace and water heater. Water heating is the third largest energy expense in the home and typically accounts for about 13 percent of the utility bill. Tankless water heaters can save 30-70 percent on energy costs compared to standard gas or electric models.

Seal your home from heat and cold. Allowing air to escape through gaps and cracks is like throwing your money away. By sealing your home like caulk, sealant and weather-stripping, you can save up to 20 percent on heating and cooling costs.

Insulate your home. Homeowners typically can reduce heating and cooling costs by up to 20 percent by sealing their homes and adding insulation in attics, floors over crawl spaces and accessible basement rim joists. Choose from blow-in or roll insulation. 

Thanks to Bob Jurecic and Ron Jarvis of the Home Depot for sharing these tips on home improvement projects and products that can help us save energy and reduce costs.

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What Can the Mobile Web Do For Your Money?

The mobile web is all around us, yet I have been largely disconnected from using it for text messaging, mobile browsing, or checking email on a mobile device.

The World is Going Mobile

Every time I travel I try and use my interactions with the people I meet along the way to way to learn something new about human behavior or society in general.  One of the things I was reminded of on my recent business trip was how diverse the population of the US is, especially in the big cities.

I saw so many different cultures and nationalities on the city streets, in the train station, and at the airport; yet many of them had at least one thing in common….

They were hooked into the mobile web!  I don’t know all the languages they were texting or browsing in but it made me realize the mobile web will become a big part of many of our lives in the not so distant future.  We can look to other countries that are far ahead of the US in mobile adoption to see what types of applications and services will be available to us.

Mobile Money

In the next week or two we’ll take a look at the ways you can use your phone or other device for mobile banking, managing and tracking your money on the go, mobile shopping, and redeeming mobile coupons.  Until then, let us know in the comment section below how you use your mobile device when you’re on the go.

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