![Freakonomics[Revised and Expanded]](/images/21xRHBWYYML.jpg "Freakonomics[Revised and Expanded]")
Some Ideas for Financial prudence and Eco conservation
Thursday, June 25th, 2009Recently, I’ve been exchanging/discussing some ideas with other “like minded” people who care about the future of our country and the planet. The majority of them find these ideas valuable, but some feel that I am speaking out of my mind.
Face it, we are trying to cope with a severe global economic slump. Our economy is still in a mess. World Bank forecasts that we will not see a positive GDP growth until late 2010. Economist predicts unemployment will continue to rise and hold steady until the end of this year. Credit card issuers continue to write off a record portion of their loans to their consumers. Most credit card users are unemployed, who will continue to borrow and delay their payments. In a recent poll it was found that over 60% prefer owning an iPod to caring about the environment. I am actually not surprised. The Gen X and Y spend most of their time communicating or interacting with their friends online rather than meeting them in person. Whatever happened to social interaction? The majority of the people in this country (especially the Gen X and Y) live from paycheck to paycheck. They completely lack the knowledge and value of money. Most don’t set aside a portion of their earnings for emergency and/or other big investments. We live a lifestyle that is beyond our means. America’s supply of engineers and scientists is shrinking. A large number of youth are not completing high school. As a society, we are decaying morally, culturally and financially. If we don’t change our lifestyle now, we are digging ourselves deeper and deeper. The future will look very much like played out in the movie Idiocracy.
Here are some ideas that might help you with your finances in this tough economic environment:
- Stay away from credit cards. Use debit cards instead. Preferably use the ones that give you reward points. The ones that give you mileage points are useless, as many airlines are constantly changing their mileage requirement policy. You can use reward points, such as ThankYouPoints, to buy gift cards and apparel.
- Use cash when possible.
- Eat in. It’s healthier and goes easy on your wallet. Don’t eat in front of your TV. Use dinner as an opportunity to interact with your family and friends. Studies have indicated watching TV while eating encourages overeating.
- If you feel the need to go out, do it on the weekends so you can spend more time outside.
- Establish a weekly budget for groceries and dining out and stick to it.
- If you go out, try to eat healthy (sushi or Mediterranean to diner or fast food). Eating fast food has a negative impact on society and environment. Yes, take-outs are bad for environment.
- Staying in shape doesn’t require plumping $100 a month in a health club. Pick up an activity or sport. You can find biking or hiking trails near you. Playing a sport like tennis or swimming in a local pool helps you burn more calories than running on the treadmills in a fancy health club.
- Get rid of the idiot box (I mean cable TV). Premium cable service costs about $100 a month. Watching the garbage (aka reality shows) on cable not only degrades your active brain cells, but also costs you a ton of money. Instead, rent movies and shows from Netflix (basic DVD service starts at $8.99). Find other outdoor entertainment. Go to museums or opera houses. You get better value and mental stimulation for your money.
- Get a basic Internet broadband service. Most popular TV shows are available online for free.
- Do you really need an iPhone? If you’re barely making money or unemployed for that matter, get rid of the expensive iPhone service. If you really want one, buy an iTouch. It has the same functionality as the iPhone (except for the phone function), and uses wireless connection which you can find in many places these days.
Some tips for conserving our environment and leading a healthier lifestyle:
- Don’t throw away used vegetables. Use it as a compost. Composts turn organic wastes into a valuable resource. It can be used as a mulch for anything you grow in your farm/garden. This not only reduces waste, but also saves money spent on expensive fertilizers.
- Energy Saving Tips: Change your incandescent bulbs with CFL bulbs. Turn off lights and electronics when not in use.
- Consider powering your house with solar power. Most states give you a tax rebate and benefits for installing solar panels on your roof. Use an electronic meter to monitor electric usage and an inverter to store excess energy.
- If you live in an apartment and can’t install solar panels, change your local energy supplier to wind or solar power.
- Plant a tree in your backyard (if you have room). For every tree we cut, we need to grow one. Reforestation is good for our environment.
- Don’t buy bottled water. It is a waste of plastic. Plus, bottled water is no better than filtered water. Take your coffee mugs with you to Starbucks. You will not only get a discount on your coffee purchase, but you’re also helping the environment.
- Cut out sodas and other artificially sweetened drinks. Diet sodas have a chemical compound called Aspartame. Studies have linked Aspartame to cancer. Also, soda prevents your body from flushing out toxins. Soda contains high fructose corn syrup which is the number two reason behind America’s obesity problem.
- The number 1 cause of American’s obesity problem is processed food. The majority of Americans don’t eat food. They eat food-like substances. Processed food sends signals to your brain telling your digestive system to slow down, which in turn inhibits your body from digesting food properly. This will make your body store more fat.
- Do not use Dishwasher. This consumes ton of water and electricity. Hand wash dishes instead. Use cold water and not hot water if possible. The only time it makes economical sense to use dishwasher is when you have a lot of dishes to wash at once.
