By Amanda Morrall
1) Gay Paris on the cheap
Paris on US$120 a month. I must be joking right? Nah. Take expensive hotels out of the equation, organise a house swap instead and you'll be saving heaps. Here's how a retired journo (a profession that in his own words"pays just enough to starve with dignity") financed a second honey moon with his wife of 45 years. Any ex-pats living abroad and reading this, you know where to find me. House comes with Jim Henson styled floppy moppy hound, plus cat.
2) Trust me - with this little pill
U.S. neuroeconomist Paul Zak believes he has a panacea for what ails us; internationally, domestically and even at the household level. One word: trust. Zak in this piece from the Guardian argues that the root of all contemporary problems boils down to social cohesion, or lack therefore. To remedy the problem, Zak is proposing the wider distribution of magic pills used to induce labour in women. Actually it also comes in a nasal spray. The active trust building ingredient? Oxytocin, a trust building hormone sometimes known as the love drug.
Seems a bit simplistic but Zak swears by it and at his lectures apparently transform uptight crowds into huggy kissy happy hipsters.
3) Good debt?
Earlier this week I met with a recent graduate who disclosed in our conversation that she was leaving university with a NZ$38,000 debt. My eyes must have been bulging because she quickly added that hers was the smallest amongst her friends. Some, doctors and other specialists were NZ$100,000 poorer for their education. I don't doubt that for some professions and high achievers out there, the education will more than make up for the debt down the road. Unfortunately, this won't be true of all graduates, particularly those who don't get an early handle on their finances.
Here's another article via thedebtmyth.com which shares my view that all debt is bad debt.
4) Burst savings
After a few indulgences, a holiday, a new T.V. (my old one was analog, came with rabbit ears and weighed 60 kgs), another LBD (Little Black Dress) (50% off), I've decided to crack the savings whip. Don't worry I'm already out of debt. Seeing as I'm always self flagellating in the savings department it won't be too punishing. I'm thinking about giving up wine (for at least a month) and will forego DVDs (I have 17 free channels now who-hoo), take-aways and I maybe even rent out my garage, after I sell the stuff gathering dust inside it.
According to this article from Yahoo finance, the most effective way to save $1 million, is through something called "burst savings.'' Essentially, this method just entails channelling all extra and discretionary income into savings, that's assuming you've paid off the debt.
5) Riding the storm
John Collett from the Age says investors may be forgiven for wanting to cash out and leave the share market behind until sovereign debt issues are ironed out. It looks like the worse is yet to come. But is it really smart to take an all or nothing approach when times get tough? Not usually. Collett says a more prudent move for investors is to hold the course, rebalance the portfolio if necessary and look at dollar cost averaging as a way to buffer the highs and low of all this volatility.
To read other Take Fives by Amanda Morrall click here. You can also follow Amanda on Twitter @amandamorrall
9 Comments
"The Government has ruled out universal drug testing of all beneficiaries, with drug and alcohol addicts being exempted from sanctions for refusing or failing a drug test when applying for a job.
Social Development Minister Paula Bennett said there were no plans to make a drug test a condition of going on a benefit and about 6100 people who were on sickness or invalid's benefits because of drug or alcohol abuse or addiction would be exempt.
Those assessed as having a genuine addiction in the future would also be exempt".herald
What a joke....the benefit is being used to buy drugs......and the govt is employing a heap of cops to catch the growers and peddlers...not the bwankers though...their credit drug selling is considered a positive role model.
Addiction is a choice and a crime
Not alcohol addiction however - and although I've not looked at the stats - I'd say it's our number one addiction problem by number of addicts, societal harm and societal costs.
Read a senior police officer say that 50% of all police time/work is alcohol related.
What is absolutely unbelievable is the fact that;
Those assessed as having a genuine addiction in the future would also be exempt.
That group did not have work testing requirements until their doctor deemed them ready for work. There was currently no obligation for them to get any form of treatment for their addiction, but Ms Bennett indicated that could change.
Clearly we are spending the money in the wrong places. The reason there is no obligation is because there are not the places available for such treatment to be provided in the quality and quantity needed. Just think in comparison about the taxpayer dollars spent on curing our citizens of their smoking addiction - the quit line, patches, gum and pharmaceuticals, plain packets, covered counter displays and so forth.
What if we had placed the same effort and concern in relation to drug and alcohol addicts?
And who is going to pay for that Kate.
We are all already paying dearly - but that expenditure appears in the policing line item - if that cop was right - 50% of all police work being alcohol fuelled incidents. Even the most libertarian of liberatrians ascribes to taxes to fund law and order. So, either we can pay more and more for our law and order - or we can decide to treat the illness of alcohol and drug abuse.
As the US is finding - incarcerating in excess of 10% of the population isn't the answer.
PS - where the voluntary addicts are smokers - I totally agree with you - let them pay for themselves to quit and divert all the anti-smoking taxpayer dollars, as well as the increased taxes paid by smokers - to attacking drug and alcohol addiction.
Personally, I'd say Outlaw them.
Outlaw what?
As for pay more. Get fked. seriously.
The point being that the net outcome of solving the drug/alcohol addiction problem we have is that we would all pay less (for crime prevention and emergency/acute medical care). So, no I'm not advocating higher taxes - if that's what you are getting at.
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