Green Minded Wallet

I am starting to realize that there will always be someone “better.” No matter how hard you work there will always be someone who: saves more for retirement, gets a better deal, finishes faster, loses weight more easily, pays down their loans faster, drives less, uses less energy, ad infinitum. Furthermore with the advent of the internet, they might just tell you so. I really can’t tell you how many times I’ve read a pf blog and the author talks about ways you can save in X area, and everyone writes in to say just how much they saved in X area as if it’s a contest. The same goes for other types of “achievements” like recycling and athletics as well. But you know what I’m starting to realize, truly realize: it is not in fact a contest. If you can meet your goals, then you have won. If really doesn’t matter if Jenny in Wisconsin only spent $1625 on a wedding and you spent $6500 if you had the wedding that you wanted and paid for it responsibly. You probably could get married for less than $5o, but would you want that? And even if you are the person who is “better”, what exactly does that get you, in and of itself? Don’t get me wrong, I’m not saying that there aren’t tangible benefits to savings and responsible spending, exercise, conservation, etc., but I think when we are seeking to make achievements at a certain level simply for the bragging rights, we lose sight of what’s really important. For example, if the cost of your wedding is the most important thing to you (whether it be high or low), personally I think that you’ve pretty much missed the point. And if you only run races to win them, you’ll miss out on so many good moments because you’re worried about someone else being better.

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Do you remember when the idea of a college or graduate student was someone occupying a small room in a house, eating pasta and ramen, and commuting to school on an old beater bike? What happened to that idea - because seriously many of the students around me seem very ‘bling’ed out: triathlon bikes, BMWs, fancy restaurants, etc. I know that some students work, but given the increasing cost of gas, food, and tuition it doesn’t seem like there would be a lot left over for such fancy toys. As a student myself, it just bewilders me. While I realize I might be able to afford fancier items it would come at the cost of giving, saving, and debt (student loan) reduction. Personally, I’d rather have those and the self-discipline that comes with them, than a few shiny depreciating assets at this stage of my life. My philosophy is that this is probably the time (or one of the times) I will be making the least amount of money in my adult life; if I can be responsible now, I will have a lot more fun in the future when I do make more money and I don’t have to spend it paying off old debt. While I certainly don’t advocate eating lots of enriched starches or living with questionable strangers if you can afford not to (and it’s not your preference), I think that there’s a rather thick line between a beat-up Huffy and a new Cervelo.

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If I combine the generally upward trend of gas prices with the fact that I’m cheap and I don’t really like to drive, automotive transportation is likely to play a decreasing role in my summer transportation efforts. While I generally ride the bus to my office, I find that I often use the car for errands. Not this summer. For the most part, I doubt that there are very few things that I need to buy that are too bulky to carry while riding a bike. So if I plan right, I hope to be able to seriously limit my car trips and make use of the bus, bike, and feet whenever possible. My plan is simple: unless I am required to look nice when I get there, there’s a threat of inclement weather, or I have to travel rather far away - no car. If all goes according to plan I should be able to keep a little more money in my pocket and a little less CO2 in the atmosphere.

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Well the new I-Bond rates were announced on May 1st and they come with both good and bad news. The earnings rate is the combination of the fixed rate and the applicable variable rate. The good news is that the variable rate is 4.84%. So if you already own I-bonds with fixed rates over 1% like I do, you’re probably fairly pleased. The bad news is that the new fixed rate is 0%. Seriously ZERO. As the fixed rate lasts for the life of the bond (while the variable rate changes every six months), this isn’t the most attractive gamble for a long-term savings strategy. It might be worth purchasing new I-bonds for a year (minimum required holding term), but after a 3-month interest penalty you might not fair much better than with a online savings account or CD. I really think it’s too bad that the US government seems to be discouraging people from saving.

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