Archive for December, 2009

The Best GPT Posts of 2009

By: Green Panda | Date posted: December 30, 2009 (9:29 am)

Thank You

I want to thank those of you who have been with me in 2009. I’m enjoying my time writing and I love getting in contact with you through email and Twitter. I look forward to getting to know you better in 2010.

Thanks for reading GPT!

Thanks for reading GPT!

If you haven’t already, please subscribe to Green Panda Treehouse and get automatically updated. It’s easy and free.

I wanted to put up some of the most popular posts on this site this past year.  I’m surpised to see what made the tops of the list as some of them were off topic. Please let me know if you have any topic ideas, I want to make this site as useful as I can.

January 2009

February 2009

March 2009

April 2009

May 2009

June 2009

July 2009

August 2009

September 2009

October 2009

November 2009

December 2009

Which Charity Do You Support?

By: Green Panda | Date posted: December 28, 2009 (9:28 am)

Wanting to Increase Giving

While we have given some of our resources to charities and have done some volunteer work locally, I think we can do a bit more. I was reading Mike’s thoughts on charitable giving today on Free Money Finance and decided go ahead and post my plans for 2010 on charitable giving.

Share what you can

Share what you can

Donors Choose-  A Charity Worth Considering

How does this program work? I’ll let the site explain how donations work:

DonorsChoose.org is a simple way to provide students in need with resources that our public schools often lack. At this not-for-profit web site, teachers submit project proposals for materials or experiences their students need to learn. These ideas become classroom reality when concerned individuals, whom we call Citizen Philanthropists, choose projects to fund.Fulfilling Student ProjectsDonorsChoose.org performs a good deal of work to ensure the integrity of its philanthropic marketplace. Here’s how it works:

  • 1. Public school teachers create student project proposals at DonorsChoose.org. This consists of writing a one page essay and listing the exact resource(s) needed.
  • 2. DonorsChoose.org volunteers screen each project proposal before posting to the website. Volunteers verify that the teacher and project meet our eligibility requirements, emailing follow-up questions to the teacher if anything is unclear.
  • 3. Concerned individuals fund the student projects of their choice-in whole or in part-and are emailed immediate email gift acknowledgments from DonorsChoose.org which can be used for tax deduction purposes.
  • 4. DonorsChoose.org emails the school principal, alerting him/her to the funded project.
  • 5. Within the next week, DonorsChoose.org forwards the donor an “e-thank-you” from the teacher, which notes the date by which the donor can expect his/her full feedback package.
  • 6. DonorsChoose.org purchases the student materials and ships items directly to the school along with a disposable camera, guidelines for preparing feedback packages, and a stamped envelope in which to enclose the feedback.
  • 7. Students experience the project that the donor made possible! The teacher photographs the students participating in the project and writes an impact letter to the donor. Students write their own thank-you notes. This feedback is then mailed to DonorsChoose.org headquarters.
  • 8. DonorsChoose.org develops the photos, and compiles the letter and thank-you notes. This feedback is mailed to the donor(s) who completed the project or made a partial contribution of $100 or more.

We have personally had great experiences with them and I wanted to expand my participation with them in 2010.

It’s More Than Donating Money

I think many people associate charities with donating money, but that’s not always the case. I bring this up because sometimes with all of our bills and obligations, sometimes we forget that there are less fortunate ones and who could use some help. I know there are many college students who are low on funds and may shy away from donating to charities. It’s still possible to be a giver when you have a small income.

Volunteering your time to a cause that matters to you is a great way to help others. The added benefit is that you can possibly learn a skill as well.

2010 Charity Challenge

I’m going to skip eating out for lunch for a week once a month and donate that money to a classroom project from DonorsChoose.org. I’ll do it around the end of the month and announce it here. You can join in and pick the charity you want to support that week, whether it’s time or money.

Hopefully we can encourage each other and by keeping this small, we can make it sustainable. If you volunteer, please share your stories too. I love hearing how others are making an impact on their community.

Name Your Charities

I’m opening the comments to you. What charities do you support? If you can include the link, perhaps you can encourage others to help your cause. If you’re a blogger, perhaps you can link to this post mention it in your tweets and get some of your readers on board with the challenge.

Photo Credit: TheAlieness GiselaGiardino²³

Show Someone You Love Them Without Buying a Gift

By: Green Panda | Date posted: December 23, 2009 (8:49 am)


To me, love is giving your time to someone.

To me, love is giving your time to someone.

Some people feel a need to always give something as a gift to express how much they love someone. That doesn’t have to be the case. There are some things that can’t be bought.

Gifts of Time

  • Visit them. If you live nearby, see if you can at least spend a couple of hours or a day with a loved one occasionally. It’s hard to replace face to face’s power. I used to take my grandmother to the craft store to pick up some knitting material for her. It gave us an opportunity to spend some one on one time and we included a meal with the errand.
  • Call them. If you’re limited in your travel budget and you still want to stay in contact with your family and friends, consider calling them. Set aside a time where you can call your loved one, completely uninterrupted.
  • Send a letter. Emails are convenient, but sending a personal handwritten is well worth the effort. When we moved several states away, my grandmother used to get letters from us as we grew up and she kept all of them.

Please take some time in your schedule and show your loved ones how much you appreciate them.

Photo Credit:  Osvaldo_Zoom

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2009 End of the Year Financial Progress Review

By: Green Panda | Date posted: December 21, 2009 (9:46 am)

Our Financial Goals for 2009

It’s the end of December and I wanted to review how we did with our financial goals this year. First off, let me list our goals.

We did it!

We did it!

  • Debt: We would like to pay off my car loan by March 31, 2009.
  • Debt: I’d like to reduce our monthly expenses by 10%.
  • Spending: We’re going to limit eating out $100 this month.
  • Savings: We want to have 3 months worth of expenses saved by December 31, 2009.

How We Did on Our Financial Goals in 2009

  • We would like to pay off my car loan by March 31, 2009.

We accomplished on time and it saved us 1 year and about $901 in interest. That’s over $200 we can redirect to other goals. Having more wiggle room has been great as we’ve had some bumps in the road this year, such as the cat getting sick.

How We Paid Off the Car Loan

  • Developed a realistic budget and automated our regular car payments
  • Snowflaked extra payments and sent them in between scheduled payments
  • Used mini windfalls to pay big chunks of the loan
  • Asked other for their advice and either adopted or adapted them
  • I’d like to reduce our monthly expenses by 10%.

It took some time and work, but we managed to meet this goal by the beginning of October. Cutting down on consumption was a bit of work, but it was worth it.

  • We’re going to limit eating out $100 this month.

We did really well with this as an average. On certain months, like my in-laws’ 30th anniversary or the wedding we spent more, but it was planned. I think as we’ve become more about of what we spend on eating out, we’re making them special occasions. It’s been great for our waists and wallets.

  • We want to have 3 months worth of expenses saved by December 31, 2009.

Yep, we have money in the bank to cover expenses in case of emergencies. We’ll be building our house fund in 2010 as we now have to start the process over again to find another place.

End of Year Financial Tips

I’m not the only one wrapping up their finances this year.

Your Take

How are you doing with your 2009 goals? Have you had some unexpected changes? What successes have you had so far?

Build an Automated System While In College

By: Green Panda | Date posted: December 11, 2009 (4:00 pm)

After graduating college, many people think they’ll start to handle their finance responsibly. You can prepare ahead of time and graduate with professional and personal finance skill set.

robot t-shirt

Setting an automated savings system is easy.

Create a System for Your Money

Find a bank or a credit union that fits your financial needs.

Here what I personally like about ING’s Electric Orange checking account:

  • No fees. There’s no minimum balance on the account.
  • If the money is not in the account, they won’t pay the bill. This sounds like common sense. No money=no payments. Bank of America will just pay your bill and then fee you, which in turn can create more transaction fees. A relative actually had a horrible case when her monthly salary didn’t come in as scheduled (HR error) and Bank of America went ahead and charged her fees of hundreds of dollars.She explained to the bank what they error was, but to no avail. Fortunately, she went to her job’s Human Resource Department and got reimbursed for this problem.
  • Earn real interest. Unlike Bank of America, where our money was growing very,very slowly (a few cents every three months), ING had us earning a few extra dollars a month. With the rates lower now, it’s not getting higher, but much better than our old bank.

Open a savings account for a specific goal.

You can create a savings account to cover expenses if you have to move for your first post grad job. I use personally ING Direct for my savings and I have found them to be incredibly easy to use and have a lot of benefits.

  • Great rate – no minimum balance required. Everyone earns the same high yield.
  • No fees – your money goes to work for you.
  • No changing banks – the Orange Savings Account is linked directly to your checking account.
  • 24-hour access to your account – you’re always ready for opportunities.
  • FDIC-insured – your money is safe and secure.

    • By the way, ING Direct has a wonderful referral program. If you open a savings account with$250 or more using the link, you’ll get $25 bonus and I’d get $10 added to my own savings. It’s a win-win situation.

    If you’re looking at some other options, consider these banks:

    Just open an account with a bank or credit union that you feel comfortable with and increase your savings with your system.

    Every paycheck you receive, automate at least 5-10% of it to go towards your savings fund. Have it deducted from your checking account into your savings account.

    Have a job. You should be getting some income while in college because you want to build your resume up with practical work experience. I worked at concerts at a local venue to earn some cash and tips. The peak of concert season was during the summer, so I was usually off for the semester or only took one class, giving me time to work. You also may want to run your own business while you’re in school.

    Maximize Your Scholarships and Grants

    Use your tuition refund.

    Some savvy college students will be getting some money in the form of tuition refund. This is a great chance for you to sock away money. As long as you don’t have any credit card or car loan debt, have fun with the rest of  your money.

    What kind of financial aid is available?

    • Federal Pell Grants
    • Federal Supplemental Educational Opportunity Grants
    • State Grants

    Fill out your FAFSA early. Besides getting qualified for federal grants, filing early can also open up opportunities to get state grants. You’ll cut down on having to rely on student loans.

    Hunt for more scholarships. FastWeb is a popular site that searches applicable scholarships for you.

    Your Take

    By taking advantage of your automated system, you can painlessly build a healthy amount of savings that you can use after your graduation. How have you saved money for your goals?

    Photo Credit: Crystl

    Switching Utilities for the Move

    By: Green Panda | Date posted: December 09, 2009 (7:57 am)

    This Monday I went ahead and scheduled our utilities transfer set up between the old apartment and the new one for this weekend. We are moving over the weekend and turning in the keys next Monday, so everything has to move like clockwork.

    Switching Cable and Electric

    I started with the electric company, expecting it to take the longest. Instead Progress Energy took less than 20 minutes to everything scheduled and squared away to transfer our services between the apartments. believe it or not, the automated process took longer. I gave my email address to receive a electronic log of the phone call.

    The electric company’s automated confirmation system transferred me to moving services company after I completed the transfer with the customer service representative.  The representative at All Connect said they could transfer my cable and Internet service too for me, but I needed to give them my social security number.

    My policy is not give that out for 3rd parties and I asked if they would accept the last 4 digits, as Time Warner only asked for that when I call in. They seem like a reputable company, but I rather keep the number of places with that information to a minimum. He said no he couldn’t use a partial number and so I decided to call the cable company myself and get it transferred.

    I hoping I still get my Papa John’s and Domino’s coupons he mentioned sent to the new place.

    I then called up our cable company to switch services and within 10 minutes we got everything scheduled for the move. The customer representative mentioned some promotional specials, but none of them seem compelling compared to the cable, internet, and phone package we have now.

    Ask to see if there are any promotional deal when you move.

    Ask to see if there are any promotional deal when you move.

    Opening an Account with the Gas Company

    Since we are starting a new account with the gas company, they needed to run a check check to see if we had to pay a deposit. After waiting a couple minutes, the customer service representative told me we did not need a deposit.

    Transfer Fees

    With both the electric company and the cable company, we have to pay a one time transfer fee ($17 and $15). I added it up to our moving expenses spreadsheet for future reference.

    Document Utility Communications

    I took notes like I usually do when speaking with the utilities because sometimes they have made mistakes with extra charges. Having documentation has been helpful and can help you avoid more fees.

    Your Take

    How easy or hard was it to get your utilities disconnected and/or started? How do feel about sharing your SS#?

    Photo Credit: estilovagabund0

    Shopping Online? Use Bing’s Cashback to Get 20% off Ebay and Walmart

    By: Green Panda | Date posted: December 07, 2009 (9:09 am)

    I was checking my Google Reader this morning when I noticed a shopping deal on My Money Blog.

    Check out Bing to see what deals are available.

    Check out Bing to see what deals are available.

    Bing shopping is offering 20% cashback if you shop at Ebay.com and Walmart.com.

    With Bing Shopping you can earn up to $2,500 with their cashback program in a year. The wait for the cashback depends on the store with a maximum wait of 60 days and there is a $5 minimum for payout.

    If you use a Paypal account for your purchases on Ebay, Bing will automatically deposit the funds into your account. It should be noted that the cashback program is for US residents only.

    If you like shopping online, this may be something you’d like to check up on to see if you can save some money on. Since they have different deals year round, you may want to find out other cashback deals by following Bing on Facebook and Twitter.

    Watch Your Credit Cards

    By: Green Panda | Date posted: December 02, 2009 (5:10 pm)
    Watch your credit cards, you may be losing money.

    Watch your credit cards, you may be losing money.

    Credit card (and other) debts can grow like weeds. Try to tame the it before debt gets out of control. Fixing one habit at a time works, trust me. If you use credit cards or have credit card debt, you have to be diligent with handling them.

    I’ve learned quite a lot from personal experience. My first credit card ever was from Citibank when I turned 18. I thought it was so cool to have my own card, even it was only a $300 credit limit one. It had a “low APR” of 14.99%, which jumped to 25.99% in 6 months. Within a week I spent half of my limit. Looking at some old receipts, it seemed like I spent it on a mixture of eating out, gifts for family (I felt good at the time about that), and car repair.

    I know while handling credit credit card is a simple process, it’s not easy to actually do and get started with. The key for me was being informed and automating my system.

    Review your monthly statements.

    Identity theft is becoming more common and a good habit is to look at your statements every month. Sometimes credit card companies make mistakes on charges. I log in to my credit card account every couple of days to see if anything suspicious happens. I need to work on checking my paper statements.

    When you review your statements, see if there are any updates or changes to the interest rate or fees. The complete disclosure about credit card fees is long and verbose. Double check to make sure your interest rate hadn’t increased dramatically. A friend told me that her American Express credit card had an increase even though she has never been late with a payment.

    If there is an annual fee for your card, I’d get another card or negotiate that off. Why should you be charged a fee to be a cardholder? Basic credit cards that don’t have rewards or low interest rates shouldn’t have an annual fee on the card.

    Pay your credit card bills on time.

    A good credit history can help you when looking for a mortgage for a home as a higher credit score leads to lower interest rates.  Credit cards are notorious for charging their customers $39 for later charges and $39 for going over the limit. That can be $78/month added to the balance not including the interest. Do yourself the favor and pay on time and keep it under the limit.

    Another way credit card companies make their money is by charging you $15 to make a payment over the phone. I can’t think of another provider that charges you for paying them over the phone. Try to mail/send your payments a week early, but if you have to pay $15 to avoid $39 or higher, then suck it up and pay the fee. Automating my bill payments online has made my life much easier and has kept me from having late fees added to my bills.

    Pay as much as you can. (Pay in full is best)

    Credit card companies might call you a “deadbeat“, but at least you’re not tied to them each month. If you can’t, then pay as much as you can. Do not just settle for minimum payments. If you’re unable to pay the minimum for your credit cards, call them to set up an affordable plan.

    With the recession, some companies are willing to work with you. At the very least, ask them to waive fees and lower your interest rate. Again, some credit card companies are more willingly to work with you as the economy has hit many families hard. They would rather get some money than no money. Get your payment plan in writing to protect yourself.

    Build your income or reduce you expenses to increase your debt reduction payments and eliminate your debt. It doesn’t matter if you have the best credit card for college students or the worst piece of plastic. You need to kill your debt.

    Try a debt snowball or even snowflaking some more into your monthly credit card payments. Pay more than the minimum on the highest interest rates first and continue down your credit cards in descending order. When you pay off the first card, put all the debt payments from it into the second card and continue until you have paid off all your debts.

    NEVER lend your credit card to anyone!

    This account is tied to YOU and you will be held responsible.

    Your Take

    How are you handling your credit cards? If you have credit card debt, how aggressively are you attacking it?

    Photo Credit: quaziefoto

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