Hey guys, sorry it’s been a while since I updated. It seems that the sagging global economy has even affected the best of us. If we’re not scrambling to make ends meet these days, we are pissed at some random person for some random act, that we would never have given a second thought in a better economy. The downward spiral is getting out of control, and it has even affected our physical health. We need to take back control people. And the first step is identifying the problems. So, what every day activities may be threatening your financial health? Here are seven:

1. Using a debit card without writing down the transactions in your account register.

Debit cards are expected to account for 60 percent of transactions this year, but debit-card users tend to lose track of their money: Swiping plastic triggers 44 percent of overdraft fees, while paper checks account for just 27 percent.

Why write down debit spending? Because swiping a card doesn’t feel the same as laying out cash. The discipline of recording the transaction may reduce mindless spending and makes money easier to track. Simplify your money trail by using online bill pay for all your regular monthly bills, rather than having money withdrawn from your account by outside companies. Then take 30 seconds a day to log on to your account, add the pending transactions in bill pay to the outstanding checks and debits listed in your register that haven’t cleared yet. Subtract from the current balance. If the result is nearing zero, add money to the account. Voila! No overdrafts, no fees.

Sounds simple, but it’s more difficult than you think. Start small. Baby steps. Once you see what a dramatic difference it makes, you’ll want to apply this sort of order to every aspect of your life.

2. Tossing out the “junk mail” from your credit card company.

The Credit Card Holders Bill of Rights Act goes into full effect in February. Ahead of that deadline, companies are changing the terms of customer agreements. For example, the new law prohibits raising the interest rate on existing balances unless a customer pays more than 60 days late. To skirt that provision, firms are notifying customers that their cards are now “variable rate.” (Translation: We can jack up your rate whenever we please.)

So watch those benign notices, and be ready to call and demand a fixed-rate card or take your business elsewhere. Amid these tactics, a new bill calls for moving up the deadline on the credit card law to December 1st.

I just got one from Bank of America. The basic “rock and a hard place” ultimatum they gave me was, cancel my card and stay with the 9.9% APR until pay off, or keep my $10,000.00 limit and get raped (excuse my French) for 29.99% every month. My solution? After I gave them the finger, I transferred the amount to another card. Always keep a few open folks.

3. Ignoring new bank charges.

You may have noticed banks are a bit desperate these days to make a buck. One of the more recent innovations is dinging customers who make electronic transfers to an external account.

For example, last year, Wachovia started charging customers $3 per transfer to an outside bank. Let’s say you automatically stash $100 a week into a savings account at an online bank offering 1.8 percent interest (the current top rate). Smart move. Except Wachovia will now ding you for 3 percent of that weekly deposit. Annual cost? $156.

Meanwhile, Wachovia doesn’t offer any savings accounts that compete with a 1.8 percent rate. The solution? Find a local bank or credit union with no transfer fees, so you’re free to access higher returns.

4. Investing time in the wrong things.

Maybe you’re someone who will drive 20 minutes to a store on your lunch hour to get $5 off a $20 sweater. Or you’ll spend 45 minutes on the phone protesting a $3 error on the cable bill. It’s just not worth it sometimes. But, it’s still money you argue.

Well, let me tell you what is worth your time. Joining the 401(k) plan at your company. Don’t just leave your contribution languishing in a money-market account.

Make a weekly to-do list of your financial decisions (savings and spending) and then prioritize them in terms of bang-for-the-buck over time. When you do the math, you’ll see why paying off credit cards in full and contributing to a retirement plan that offers a match should be at the top of the list.

5. Spending with no goals to guide you.

One definition of insanity, attributed to Albert Einstein, is doing the same thing over and over again and expecting different results. Yet that’s how some people approach their finances. They earn and spend and earn and spend, and wonder why they aren’t making any progress.

Break the mindless cycle by figuring out what you value most, whether it’s world travel, returning to school to change careers, home ownership, a peaceful retirement or a debt-free college education for the kids. Then set specific goals, with real time frames, and track your advancement on a monthly basis. Make this a daily discipline by putting a list of those goals in your face: the fridge, your desk at work, your wallet.

Remember what I said about those monthly meetings with your significant other? This is what I was talking about. Or, just set up a day each month and sit with yourself to go over these things. It will pay off. I promise.

6. Failing to track spending.

You can’t succeed at No. 5 if you don’t know precisely where your money is going. When I first started working, I carried a pencil and paper around and wrote everything down. Today, there are numerous desktop software applications and Web sites that will aggregate your finances and track your spending and savings. If you own a smart phone try Mint.com.

You can pay upfront for software. Choose an online program that’s free, but supported by sponsored ads and offers you’ll see when you log in (and the service may sell your data). Or you can pay a monthly fee for a site with no outside ads or offers.

7. Failing to exercise.

How can this hurt your finances? Daily physical activity lowers the risk of a multitude of ailments, from heart disease to diabetes to certain kinds of cancer, which are obviously expensive to treat, even for people who have health insurance.

A study has found medical bills are behind 60 percent of U.S. bankruptcies, and more than 75 percent of bankrupt families had health insurance at the onset of the illness.

Meanwhile, a regular work-out might even get you a raise. Studies have found exercise can improve your performance at work by boosting cognitive skills and productivity, and reducing stress and absenteeism. And, the most important factor, you’ll just feel better!

Thanks for staying with me guys. See you in seven (promise!).

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So it finally happened. Someone out there stole my credit card number and bought a bunch of phone card charges with it. Funny thing is, I never lost my card. It was still in my wallet!

So people, beware of identity theft: protect yourself. Now more than ever in this economy. My deduction is that when I gave the waiter at a restaurant my card to pay for the meal, the number was swiped. I did some research and found out that international phone cards do not need more than a credit card number to re-charge. The culprit then takes these fresh cards and sells them for less than face value. Viola! Instant 100% profit for the scumbag.

As you may have already seen, in the recent months, there have been different scams and frauds in the news, as well as some credit and debit cards being compromised from a certain processor.

I would like to share a few effective ways on how you can keep your accounts safe:

- Check your account statements for fraudulent activity every month. If you see any suspicious charges, notify your financial institution immediately.

- Sign up for Online Banking to keep track of your transactions in real-time.

- Do not call unknown phone numbers or visit suspicious web addresses.

- Do not give out account numbers or other personal financial information, unless you initiate contact.

- Shred personal and financial information before recycling.

- Ignore any correspondence with urgent requests for personal financial information. Many scammers will include upsetting or exciting messages to get people to react immediately.

- Review your credit report annually (or tri-annually, like I taught you). Visit Annual Credit Report dot Com.

- Use cash for smaller transactions.

Luckily, I called my bank in time and reported the incident. All is safe. See you in seven-ish!

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This will be the first in a new segment of how to get rich and stay rich, clothing and accessories style! I am a man, so most, if not all of these will be geared toward men’s stuff. I hope you enjoy it. Hopefully, it will draw on new readership as well. I mean, not everyone is into Real Estate after all.

Now, keep in mind that this will not be in any order of importance. The first essential piece of clothing that I believe every man must own is a sheepskin coat. Why? With all the modern technology textiles, the warmest thing in a man’s closet are usually the ones invented by cavemen with sharp sticks. The sheepskin coat is stitched together from the skins of young sheep and still one of the best defenses against winter’s wraith. One side offers resilient leather that fends of the wind while the other consists of natural wool fleece that is still attached to the hide.

Winter wraith? It’s spring! What’s this guy talking about, you may be wondering. Ah, but that goes perfectly well with this site. Remember, how do the rich stay rich? Well, one way, is by purchasing things when they are lower in price, say a winter coat during summer time?

Alright, I’ll bite. So, what’s this coat going to run me? Well, a nice specimen of the coat is made by Tom Ford. As you can see from the picture up top, the lambskin coat can run up to $8,970.00. Yeah right! I know what you’re thinking. I felt the same way. Not in this economy.

So, what will I be sporting this coming winter? There is Canadian company called Mac Mor, that makes beautiful sheepskin coats, at a fraction of the cost. While still costing a few hundred dollars, it’s well worth it. I know what you’re thinking. You’re still not going to drop a few hundred dollars on a winter coat in the spring right? Not in this economy!

Okay, so here’s the kicker. I found a nice new Mac Mor sheepskin coat in my size (42, for those of you that want to know) on eBay for $100.00, but with a Best Offer option. It’s spring after all. I offered $49.00, and it was accepted! Like I said guys, buy nice things out of season. You can save a lot of money.

I also had my tailor sew on two elbow pads in dark brown suede to offset the tan color. The other reason is to reinforce the elbow joint since that is usually the weak point of the sheepskin jacket.

The picture really doesn’t do it justice, but all you have to do to make it look exactly like the Tom Ford coat is to unbutton the coat, flip up the collar, and if you must, dye it a dark brown. I personally like the neutral tan look. But hey, to each their own.

I tried the jacket on and I’ve gotta tell ya, it’s warm! I can only wear a t-shirt underneath without breaking out in sweat. So, hope you enjoyed the first segment in how to dress like a prince at a pauper’s price! See you in seven guys!

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Even with the current rainfall we here in the Bay Area have experienced as of late, there is still a shortage of water for the coming summer months. While we are close to facing mandatory cutbacks, the rest of you could use the money savings gained from our tips to conserve water.

The following tips can have households achieving a 10% reduction in water use by saving about ten gallons a day. Here is what you can do to help meet the challenge of cutting back.

Take shorter showers. Each minute you cut saves 2.5 gallons of water!

Turn off the faucet when you are brushing your teeth of washing the dishes. As I stated above, each minute you cut saves 2.5 gallons.

Don’t pre-rinse dishes. Scrape food waste directly into the compost bin. While this probably won’t add up to a minute, you can still save the proportionate amount of time it takes you to do all the dishes that month.

Use the Dishwater. Surprisingly dishwashers are often more efficient than hand washing. A modern dishwasher’s cycle uses as little as five gallons per load. Compare that to running the faucet at two plus gallons per minute.

Wait for a full load. Full loads are the most efficient way to wash clothes. A traditional clothes washing machine can run at forty plus gallons per cycle.

Use a broom. Hosing down sidewalks, driveways, and pavement is a wasteful practice. Running a garden hose can waste up to ten gallons per minute.

Install aerators on faucets. Installing aerators on kitchen and bathroom sinks can reduce indoor water use by about four percent. Inquire about FREE aerators from your local water department (the SFPUC for the local folks).

Check for leaks. Do you hear the toilet running or your faucet dripping? You could be wasting thousands of gallons per month. To check for leaks, turn off all water taps inside and outside your home. Locate your water meter, and if the dial is moving you may have a plumbing leak.

Adjust your sprinklers. This is so that water remains on the landscape, not the pavement. Reduce evaporation by watering during cooler temperatures at night or in the early morning.

Hope these tips help guys. See you in seven (-ish).

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What’s going on guys? Autumn is setting in and more of us are opting to stay at home due to the cooler weather. That means we tend to use more energy during these next few months. So, I’m going to show you guys ways to offset this spike in energy usage rates. Plus, everyone is looking for ways to economize these days, both financially and environmentally. So, here are some ways that I save money at home and save our environment at the same time:

Buy appliances with the Energy Star rating. This rating program sponsored by the Department of Energy and the EPA can save you up to 30% in energy usage costs in the long run. And let’s face it, buying green just makes you feel that much snootier, doesn’t it?

Unplug your appliances when you aren’t using them. Believe it or not, all your household appliances are sipping on electric juice even when they are dormant! Ever wonder how that DVD player light is always on? Yup, you guessed it. It’s snacking on your electricity.

Drink filtered tap water instead of bottled water. Bottled water is more expensive and produces more plastic waste. In addition, there has been a slew of folklore surrounding plastic bottles causing cancer. Whether it’s don’t, reuse them, microwave them, or freeze them, none of it has been proven substantial. However, why risk it?

Replace your light bulbs with CFLs (which means compact flourescent light bulbs for you green newbies). They are a bit more expensive upfront but they use less energy and last longer than traditional bulbs. Therefore, it will result in long-term savings. Yes, I mentioned this tip before and no, I don’t have stock in CFL companies. Hmmm, which would be a good idea actually…

Request an energy audit of your home. State energy departments and utility companies often provide this service at a low cost to help determine your energy usage and ways to reduce it. Just like periodically checking your credit score, this is a great way to gauge what to do to save some money.

Plant trees and/or shrubbery that will provide shade in the summer and protection in the winter. Who wouldn’t like to turn down the air conditioner a few dials during the summer because he or she has a nice shady area to lounge in? Or how about turning down the heater because it’s just not that cold with the tree blacking most of the chilly wind? Good sense, right?

And last but not least, learn about any new green product before buying it. Wait until it has been tested and see if it’s worth the cost by reading reviews and comments. Don’t run out and buy the latest fad just to find out it’s a gimmick or a dud.

Alright folks, hope this helped a bit. See you in seven!

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