photo credit: qnr

I have fond memories of going with my dad to Circuit City as a kid and looking at all the stereos and latest gadgets. In fact, I’ve probably spent a good amount of money on electronics at Circuit City over the last 20 years. My first big stereo system, dvd player, Sony computer, car stereos, cell phones, and more. Well, now Circuit City is a victim of the credit crunch and poor holiday sales. Is it time to go to Circuit City one last time and look for a deal before they go out of business? Can I find a discount on a Wii? Do I even need a Wii?

Let’s say a Wii was in our family budget and I was going to use if for daily exercise using the Wii fit. Alright, you’re probably laughing at my justification right now, but let’s say I could get it for a steep discount. I think I saw the Wii for $250 at Best Buy or Target over the holidays and the Wii fit for another $100. Total cost would be $350 for a fun family toy. I don’t know if the price of the Wii would ever be justified if it wasn’t in our budget, but let’s say it is. If I could get a Wii for 25% or 30% off, would that be a deal? Let’s see.

Circuit City will be liquidating inventory and may not restock store shelves with new inventory. Since the Wii is sold out at many other stores, Circuit City may not even have them in stock. What if they do? Will Circuity City change the return policy since they are going out of business? Would it be worth a 25% discount if they offered no return policy or limited warranty? This could be a risky venture. I’m sure the Wii probably comes with a standard manufacturer warranty from Nintendo, but will Circuit City be able to help if something breaks? I might venture out this weekend and see what our local Circuity City has in stock. If it’s in your family budget, are you planning a trip to Circuit City to check for bargains?

Also, if you have any Circuit City gift cards that you received for the holidays…Use them quickly. You don’t want to be holding Circuit City gift cards when the stores are empty and worthless.

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I came across an interesting article written by Alexandra Penney, who was an investor with Bernie Madoff. She has lost her life’s savings and is documenting her journey towards getting back to a “normal” life through the “Baglady’s Papers”. You might find this article interesting as she certainly doesn’t fit the mold of a typical investor. Penney was a successful writer and artist and now is in the process of selling some real estate to cover her living expenses. You do get a sense of betrayal and anger as you follow her journey from New York to Florida to sell her belongings. Also, she seems to have coined a new term called “Madoff-ed”.

Penney doesn’t disclose how much she lost from Madoff, but you can only imagine that it would be several million dollars as she wrote the best seller “How to make love to a man” and was an editor for Self magazine. She looked to Madoff since he was averaging about 10% a year in returns and she could comfortably work on her passion of artwork. What this reminds me of is the investment advice to not have all your investments in one fund. Whether it’s your 401k or your bank account. Make sure you are diversified and not have all your eggs in one basket. I’m still wondering where all the Madoff money went. It couldn’t have just disappeared, could it?

Have you reallocated your 401k recently?

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photo credit: The Elwoods

New study ranks 200 jobs from best to worst, but work at home writer wasn’t one of the top jobs. Was your job on the top 10? Before you read below, take a guess at what you think a top job would be based on safety, desirable location, pay and benefits. Maybe a technology job or a scientist, or web developer? The Wall Street Journal article gives the background on the 200 job rankings and the criteria for the study.

The 20 Top Jobs

1. Mathematician
2. Actuary
3. Statistician
4. Biologist
5. Software Engineer
6. Computer Systems Analyst
7. Historian
8. Sociologist
9. Industrial Designer
10. Accountant
11. Economist
12. Philosopher
13. Physicist
14. Parole Officer
15. Meteorologist
16. Medical Laboratory Technician
17. Paralegal Assistant
18. Computer Programmer
19. Motion Picture Editor
20. Astronomer

A parole officer made the top 20 list. Maybe this job description has changed, but I thought they work with felons and criminals and sounds a little dangerous.

Motion picture editor sounds like a fascinating job if it’s working with movies, soundtracks and special effects.

A Meteorologist for a weather station in California would be an ideal job as the weather person and reminds me of the Steve Martin movie L.A. Story.

Now for the 20 Worst Jobs according to the study

200. Lumberjack
199. Dairy Farmer
198. Taxi Driver
197. Seaman
196. EMT
195. Roofer
194. Garbage Collector
193. Welder
192. Roustabout
191. Ironworker
190. Construction Worker
189. Mail Carrier
188. Sheet Metal Worker
187. Auto Mechanic
186. Butcher
185. Nuclear Decontamination Tech
184. Nurse (LN)
183. Painter
182. Child Care Worker
181. Firefighter

I was surprised to see child care worker was ranked higher than firefighter as worst jobs. I think of day care providers or after school workers and can only think of coming in contact with colds or germs as the only negative work environment. Compare that to a firefighter where they risk falling through roofs or ladders and getting burned on a daily basis. I’m sure someone has an interesting daycare story that can justify the low ranking here.

I would agree with ironworker if that includes those guys working on bridges or high rise buildings. That is amazing work and looks dangerous.

An auto mechanic must be on this list due to working with so many hazardous materials. I enjoy working on my car and know of some mechanics who make very good money. In fact I have a classic car I’m researching restoring and some guys make well over $100 an hour. Makes me want to work on the car myself and save some big bucks.

Was your job on this list? Any surprises for top jobs or worst jobs?

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photo credit: Orin Optiglot

Next time your at a yard sale or estate sale, look for those old baseball cards. An 1869 Red Stocking B.B. Club of Cincinnati baseball card could fetch over $100,000 at auction. Amazing story of riches found in a box of baseball cards found by Bernice Gallego of Fresno, California. The Fresno Bee has an article about Gallego and how she found the card. This card is so rare that it’s thought to be one of the first baseball cards ever produced and will bring collectors from around the world to bid on this piece of history. I was shocked when I read that she first listed the Red Stocking card on ebay for $10. Can you believe it? She didn’t realize the value until some collectors started emailing with detailed questions about the card. If your thinking this is one lucky lady, she actually won $250,000 on slot machines in Lake Tahoe as well.

What would you do with such a card? Would you try and sell it to the baseball hall of fame or another public institution, or would you sell to the highest bidder? While baseball cards can be an investment, I have yet to hold anything that is worth over a few dollars. It would be great if you could turn baseball cards or any collectible into passive residual income. Any guesses what it will sell for? I’ll keep track of the listing when it goes on ebay.

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Inspiration to save money doesn’t happen often, let alone through television. I found watching the TLC show Kids by the dozen about the Jeub family to be extremely motivating. The Jeubs live extremely frugal lives and have fun while raising 14 children. I especially found myself amazed watching the family shopping trip where they would buy a shopping cart full of groceries and still spend less than $150 a week with a total household income of less than $40,000. I would hope that the TLC show increased the families income as well as some sponsorships or a possible book endorsement. Wendy Jeub has written a cookbook called Love in the kitchen and sells for $15.96 on the families website here.

Some other frugal tips from the Jeubs show featured a birthday celebration day where they celebrated all of the Jeub children together. This allowed for one giant party where all the children received gifts and had family and friends over for a huge celebration.

The Jeubs also had a family business where they write and distribute a speech and debate curriculum. I was fascinated that one of the daughter’s was interested in working in the family office and learning about business at such a young age. Writing books can be a wonderful source of passive income or residual income. The Jeubs also have a book that I’ll be ordering called Love In The House that explain how they spend less than $600 a month on groceries, frugal ideas like the birthday bash and more.

Are you able to support your family on $40,000 a year? How about if you had a family of 14? What inspires me about the Jeub’s is not just limited to the salary supporting the entire family for all the basic needs, but for much more including:

1. Strong family bond. They Jeub family has struggled through some difficult times and continues to have faith and a strong belief in family.

2. Hard work. Television always has a way of making something seem glamorous, including working on a farm. The Jeubs raise chickens for eggs and mend clothes to make them last for future generations. I can’t even imagine washing clothes for 14 children, as that would drive me crazy. This take more than hard work, but tenacity.

3. Team building. Watching the children work together, whether through home schooling, chores, or working in the family business was priceless. The lessons learned here will last throughout a lifetime and allow them to teach future generations. I really enjoy watching the buddy system where they pair up a younger child with an older mentor.

4. Frugality. How they can shop for 14 children for under $600 a month is remarkable. Is your household grocery budget under $600 a month? I know a few friends that spend more and they don’t have any children. Eating out several times a week would do it for most families.

Did you watch any inspirational television programs in 2008 that helped shape your personal finance journey?

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