Wise Bread (Carlos Portocarrero)

Great Ways to Invest in Yourself

Carlos Portocarrero — Tue, 31 Jan 2012 11:00:16 +0000

Most people are scared of investing because it involves risk. No matter how sure you are about a stock, mutual fund, or business opportunity, there’s always the chance that you could lose all your money.

And that’s scary.

So what if I told you there’s a way to invest with absolutely no risk? I can’t promise an exact return on the investment, but I guarantee it will always be positive.

It’s called investing in yourself.

I know it sounds cheesy, but when was the last time you learned something new made you a better employee or job candidate? Instead of trying to get rich by putting huge piles of your hard-earned money into a stock you think is going to go up, why not invest time and money into improving your skills and boosting your earning power? (See also: Best Investment: Yourself)

More skills can lead to a higher pay, more job opportunities, and added job security. Bonus — more skills also make you more interesting.

That sounds great, but how do you invest in yourself without going back to school and paying thousands of dollars for a degree?

Here are some ways you can invest in yourself to boost your skills.

Read a Book

Books are my favorite way of learning new things. Everything I learned about investing and personal finance I learned from reading books. I read everything I could get my hands on and became knowledgeable enough that I started my own site, The Writer’s Coin. I recommend I Will Teach You to Be Rich by Ramit Sethi to start.

Start a Blog/Site

When I started my site I did it because I felt I had something to say about personal finance. I had no idea it was going to teach me about networking, social media, SEO, entrepreneurship, CSS, and PHP, or that it would start to make real money for me. Bonus — blogging regularly will make you a better writer, and that’s an essential skill in the world today. Go to Wordpress.com and start your own blog today — it’s free!

Subscribe to a New Site

Learn what an RSS fee is. Then start adding new sites to your reader, and you’ll stay up to date on whatever topic you’re curious about. This is how I injected myself into the personal finance blogosphere.

Take a Course

There's a course for anything you can imagine out there. Whether it’s a local class to learn how to cook or an online course about computer programming, if you can think it, I guarantee someone out there is teaching it. You’ll meet new people, learn new skills, and broaden your horizons. Thanks to the Internet you can learn pretty much anything you can think of. iTunes U has tons of cool courses for free!

Teach Something

The best way to become an expert on something is to have deep knowledge of it and then try to teach it to others. It works your brain in a totally different (and good) way. Plus you’ll meet some interesting people. Pick a sport/instrument/topic you know a lot about and teach your niece/nephew/child a basic concept about it — you gotta start somewhere!

Learn a Language

This is easier said than done, but if your job requires a lot of travel or will be investing in another country soon, then another language might be essential. Tip — Duolingo is gonna be awesome.

Freelance

Freelancing is a great way to get a taste of another job without leaving your current one. It’ll also teach you about handling clients, running a business, and marketing. Check out Craigslist or ask your friends if they need help with something.

Be Smart About the Skills You Learn

Don't expect your boss to give you a raise simply because you can say "hello" in French. Be smart about which skills you tackle and how they fit into your career plan. If your company just signed a major client from France, then go ahead. If you're doing it because you like Paris, it probably won't have an effect on your value to the company.

Written by Carlos Portocarrero and published on Wise Bread. Read more articles from Wise Bread.

11 Cool Uses for a Tablet Computer

Carlos Portocarrero — Wed, 25 Jan 2012 10:48:13 +0000

Tablets have taken the world by storm, and it seems like everybody wants one. And why wouldn’t they? They’re sleek, they're cool, and you can take them anywhere. It’s a great way to carry around your music, pictures, and videos.

But other than that, how else are you going to use a tablet? Are you really going to drop $200–$500 for just another screen to stare at between commercial breaks? If you’re dead set on buying a tablet (or just trying to convince yourself it’ll be worth it), here are 15 cool ways to use it. (See also: Frugal Advice for the Gadget Addicted)

1. Second Monitor

Instead of spending an another $130 to get a second monitor, hook up your tablet. Adding another display is a great way to become more productive at home or at work — plus using a tablet as a monitor is easy.

2. Remote Control

It depends on the way you’re set up at home, but it's likely you can find an app that will let you control your TV and your sound system from your tablet. It’s already going to be on your lap, so why not take advantage?

3. Play Old School Games

From old-school Nintendo games to Playstation and Nintendo 64 titles, emulators exist for just about any system you can think of. You’re supposed to own the games you download, so make sure you look into that first. Contra here we come!

4. TV in the Car for Kids

Kids get restless in the car, even if it’s just a 30 minute ride. Instead of buying a portable DVD player, just fasten the tablet to the back of a headrest and boom — they get some entertainment, and you get some peace and quiet.

5. Cash Register

If you own a portable business or are just trying to sell the junk in your garage, taking credit cards will make it easier to sell out. You can take credit-card payments from your phone too if you want, but why not go for the big screen? Happy selling!

6. Order at Restaurants

It’s only a matter of time before restaurants use tablets to take your order. That means they don’t have to run around as much, and your food comes out faster. If you run a food establishment, take note!

7. Make Music

GarageBand is one way to make music on your tablet, but it isn’t the only one — Audiotool Sketch for Android is also out there.

8. Recipe Stand

My wife and I bought one of those cheap plastic cookbook stands, and we never use it. Why? Most of our recipes come from AllRecipes or an email someone sent us. So why not use the tablet as a recipe stand? It’s portable, and we can take right into the kitchen. You can get a fancy stand or just slip it into a Ziploc bag.

9. Picture Frame

Load it up with pictures, set it down in the living room, and let it work its magic — just make sure you aren’t sharing any “personal” pics.

10. Place to Keep All Your Manuals

Manuals suck. I have them for everything I’ve ever bought, and it’s a hassle. Most are available online, but bringing them up on the computer and then going back and forth to the thermostat or whatever it is I’m fixing is a hassle. Instead, put them in a folder on a tablet and boom — you’re done.

11. Textbook

Apple just changed the game with iBooks Textbooks, and I’m thinking this is just the start. Forget about lugging around all those heavy books that don’t play videos or music — textbooks on your tablet are the future.

Tablets aren't cheap, but if you want a deal you can always find one. Keep an eye on the Cheapskate blog and sites like Techbargains for good deals.

Do you have any other interesting ways to use a tablet?

Written by Carlos Portocarrero and published on Wise Bread. Read more articles from Wise Bread.

7 Surprising Facts About Roth IRAs

Carlos Portocarrero — Tue, 17 Jan 2012 11:00:29 +0000

Roth IRAs are a great way to build a nest egg for your retirement. If you’re already contributing to your company’s 401(k), adding a Roth IRA can give you added tax flexibility when you start withdrawing. Since you’ve already paid the taxes on the money you contribute, you can take money out tax-free, and that will help minimize taxes from your 401(k). (See also: Optimize Your IRA and 401(k))

That’s just one of the many benefits — here are seven surprising things you may not know about the Roth IRA.

You Can Take Your Money and Run

Retirement accounts have all kinds of rules and regulations, right? Well, the Roth IRA lets you take your money out whenever you want — with no penalties. Any investment gains are subject to different rules, but the money you put in is yours whenever you want it. So if you’re worried that you might need the money, worry not — unless your investment goes down, of course.

A Roth IRA Can Fund Your First Home

If you want to take out some of those investment earnings, you can do so one time. You’re allowed to take up to $10,000 of your earnings to put towards buying a home IF you’re a first-time homebuyer.

Dividends Aren’t Taxed

Any dividends you’re paid on a stock or security you own in a Roth IRA account aren't taxed. This is a HUGE deal if you own a dividend-paying stock for many years. It can add up to thousands and thousands of dollars that you won’t ever have to pay taxes on. Can’t beat that.

It's Not for Everyone

Not everyone can contribute to a Roth IRA. These rules change annually, but for 2012 if you’re single and make more than $125,000 or married (filing jointly) and make more than $183,000, then you can’t contribute.

You Can Contribute After January 31

You have until tax day (April 15) to contribute towards to the previous year’s limit. For example, you have until April 15 to contribute towards your 2011 limit of $5,000 (or $6,000 if you’re over 50).

Death Isn’t the End

If you or your spouse dies, he/she can combine the two Roth IRAs into one without any penalty.

You Can Pass It On

The money in a Roth IRA can be passed on to an heir without any kind of penalty. It’s a really good way to pass money down to someone else.

Written by Carlos Portocarrero and published on Wise Bread. Read more articles from Wise Bread.

8 Cool Mint Tools for Managing Your Money

Carlos Portocarrero — Thu, 12 Jan 2012 11:24:11 +0000

Mint.com allows you to view all your financial accounts (brokerage, mortgage, loans, etc.) in one place. It's a very convenient way to navigate your financial landscape and track your spending.

But Mint is capable of way more than that. I recently re-discovered Mint and found some cool, convenient tools that everyone can use to better manage their money without wasting time. (See also: If Budgeting Isn't Fun, You're Doing It Wrong)

1. Trend Your Net Worth

While it’s not a perfect way to calculate this number (Mint uses Zillow’s estimate for property values, which is just that — an estimate), it’s still useful to give you a good sense of how your financial picture is changing over time.

2. Rolled-Up Investments

Viewing all your investments in their different accounts as one big portfolio is cool — it makes it easy to see how your overall investments are performing (or not). You can also compare all your accounts to the three major indices, select individual accounts, or even go down to the stock/mutual fund level. A lot of investment accounts don’t even have this information, so it’s cool to be able to see it in one easy place.

3. Best and Worst Investments

It’s nice to get a quick view of which stocks are bringing you down and which ones are making you look like Warren Buffett, especially if you have three or four accounts in different places. This is a good way to look at your winners and losers regardless of what account you're holding it in.

4. Alerts

Mint will send you a text or email when "things" happen. Things like an account going below a certain amount, if a bill is coming up, when interest-rates change, etc. You can rely on Mint to tell you when stuff is happening instead of always worrying about what’s going on with all your accounts.

5. Trend Filtering

Trending is cool — you can do it by category (groceries, restaurants, etc.), and you can search by proper names, like Jewel or Target to see how you’ve spent at specific places. It’s neat to see how your spending on different things changes from month to month. Maybe it’ll help explain all those times that you went to Target for a birthday card and dropped $125 on who knows what.

6. Alerts to Two Emails

When you’re in a relationship where the money is pooled, this is a great feature. Instead of one of you having to be “the bad guy” and saying “We probably shouldn’t buy this,” why not have Mint send an email instead? It can send an email to both of you saying “You probably shouldn’t buy this, you guys are over budget.”

7. Save Money

I was skeptical when I found out how Mint makes money — since they can see all your finances, they will recommend banks and credit cards that can potentially save you money. That is, I was skeptical until they recommended a credit card that will double the amount of cash back I get. Sold! You can always ignore these recommendations, but it's probably a good idea to check them out periodically.

8. Create Goals

It’s easy to say you want to save money for a trip or a new car, but most of us won’t do anything about it. With Mint, setting goals against your actual spending means you’ll know if you’re getting close or veering off track. Don’t forget to set those alerts to keep you in line!

Written by Carlos Portocarrero and published on Wise Bread. Read more articles from Wise Bread.

The Power of Lists: Getting More Creative and Efficient

Carlos Portocarrero — Fri, 02 Dec 2011 11:25:20 +0000

Efficiency and creativity aren’t two qualities that typically go hand in hand. You never picture the creative genius going, "I'll spend five more minutes on this idea because I need to get started on the next project."

So what’s the best way to become more efficient and more creative? Read a bunch of books? Take some classes? Spend a whole bunch of money?

I have a much simpler solution — create a list.

Here are two techniques that can help you get things done faster and come up with great ideas, whether you work in a creative field or not. (See also: Solve Problems, Study, and Brainstorm Using Mind Maps)

Becoming More Efficient

I’m horrible at remembering things — I must’ve been dropped on my head as a baby, as a young boy, and a few times as an adult. My memory just plain sucks.

I used to spend a lot of my time at work and at home trying to remember things. Errands, article ideas, putting on my pants before I leave the house, etc. It’s really bad.

But after reading a piece in the New Yorker about the power of checklists, I had one of those "aha" moments — a list was my way around my memory problems! If a simple checklist can help doctors improve their patient care and save lives, then I can surely use that same strategy to remember where I left my shoes.

The concept is simple — you’re offloading the responsibility of remembering to a sheet of paper. Spend a decent amount of time on the checklist, and the next time you need to do a project or complete a task, you just follow the checklist to make sure you completed all the steps.

So as a freelance writer it could be things like:

Great headline
SEO-friendly headline and keywords
Some humor
Something interesting/useful
Strong voice

Sounds silly, but once you sit down to write (or do anything), this isn’t the stuff you want to be focusing on. We forget about it.

I’ve used checklists at work, and they’ve made my life a lot easier. Once you find the fastest way to complete a task, write it down as a checklist. Then, next time you can just run through it and be done instead of agonizing over how to go about it. Again.

Checklists are like the crumbs of bread that you leave behind for the next time so you'll find your way faster. That’s efficiency.

Creativity and Good Ideas

A lot of people think that being creative is simply in your blood. These people wake up in the morning and write a three-act play on their way to the shower.

Those people do exist (I hate you all), but that’s not how most people come up with great ideas. This is something we’re all capable of — we just have to put in a little bit of work to get there.

If you really want to see how creative you can be, you’re going to have to do some digging. Don’t expect to sit down with a sheet of paper, spend a few minutes thinking, and then boom — you’ll hit on a great idea that will be brilliant. Not gonna happen.

Instead, try this tip from the copywriting world — come up with a list of 100.

Wait — 100 ideas??!!

Yup, that’s right. This will force you to do a few things:

Churn out a bunch of ideas
Turn off your inner editor that’s constantly telling you an idea is dumb
Force your brain to keep working, to keep digging, to keep churning and coming up with more and more ideas until you hit 100

The first few ideas will be pretty predictable. But then you’ll hit a wall. You’ll want to quit. You’ll think it’s a dumb idea to sit down and write 100 ideas down. You’ll think I’m an idiot that can’t remember squat. Which is true, but give it a chance.

Once you’re done, you’ll have 100 ideas to choose the very best from. This is a concept a photographer once told me about — in order to get an amazing picture, you have to take a whole bunch of crappy ones.

Your brain has pushed through a few walls and taken you into some random places to keep coming up with ideas. You’ve managed to shut off your lizard brain and open up your mind to the possibility of new, different, creative ideas. Some of them will suck. Some will be OK. What you’re hoping for is to review the list later on and fall in love with one or two of them.

Welcome to the creative process.

Even if you're not a writer, this is a technique you can use. You can come up with lists of ways to make your company more efficient, new products/services your company should start selling, etc. Anything new can be born this way.

Now get a sheet of paper, and start getting more efficient and creative.

Written by Carlos Portocarrero and published on Wise Bread. Read more articles from Wise Bread.

15 Career Advice Sites You Should Know About

Carlos Portocarrero — Thu, 10 Nov 2011 09:48:56 +0000

There are thousands of sites out there filled with career advice. From figuring out what you want to do and effectively networking to helping you get paid what you deserve, these sites can help you not only land a job you love, but do it better than everyone else. (See also: 25 Awesome Websites to Help You Get a Job)

For Beginners

Don't know where to start? If you're straight out of college and feel like you need a place to grasp the basics, these sites are perfect places to begin.

Job Searching at About.com

There are lots of basics on About.com's Job Searching Site; it's a good place to start and get a little bit of everything nailed down. If you have no clue about writing a resume or what happens on an interview, this is a good primer.

Businessweek: Managing Your Career

Businessweek's Managing Your Career site has a variety of articles and really nice sections along the right-hand side, like articles from the Harvard Business Review. Overall, it’s like the next step up from the About.com site with lots of general advice.

Brazen Careerist Blog

A great source of advice geared towards young professionals and college students. They’ve got great insight on relatively new issues like social media and networking in a digital age. Sample Post: How to Take That Dream Trip While Boosting Your Career

Salary Comparison Sites

Whether you're looking for a new job or want a raise at your current one, it's crucial that you know what the market is paying. Otherwise you're guessing — and if you try to negotiate without any solid data, you aren't going to make a good case. These sites have the best salary information out there.

Salary.com

Salary.com has a bunch of stuff on it, but the reason why it’s great is that getting a salary estimate for a specific job is very fast. Type in the job name and your city, and you’re done.

Glassdoor.com

This site is similar to Salary.com, only Glassdoor has a job-search engine better integrated into their site. You can also read about each company, its interview process, and reviews by other candidates. It's Salary.com on steroids.

Payscale.com

Their content is a little better than Salary.com, but the reason you’re here is to get another data point and an idea of what a position is being paid in your city. Payscale asks you for more information before spitting out the number, but it's still worth it.

Indeed.com

They have some cool trending charts that are pretty interesting, but (again) the reason I like Indeed is because it’s very fast and easy to get a salary estimate by simply entering the position and the city — maybe the fastest of the bunch.

Networking

Some people think of networking as something sleazy — doing a favor in exchange for another favor. Networking is simply knowing people and being known in exchange. These sites are the best way to add new contacts and keep in touch with your current connections.

Facebook

People don’t think of Facebook when they think of networking (they pair LinkedIn with work and Facebook with play). But that’s the wrong mentality to have when it comes to networking. Networking is about socializing, and that’s what Facebook is all about.

LinkedIn.com

Until you clean up your Facebook profile, LinkedIn is a great way to expand your work contacts. From your former classmates to employees at the company you’d like to work for, you’ll likely find a way to add some valuable contacts to your network.

Your Alumni Network

Google the school you graduated from (grad or undergrad, it doesn’t matter) followed by “alumni network.” Now sign up and follow the instructions to verify you’re an actual alum. Most schools will have a tool that allows you to search other alums and connect with them. Having a school in common is a great buffer to starting a mutually beneficial relationship.

Work Hacks

These are some great sites with fantastic career advice.

Lifehacker

Lifehacker is all about finding ways to create shortcuts that make us all more productive, and their career section is filled with helpful tips. Sample post: How to Use LinkedIn to Increase Your Hirability

Tim Ferris's Four Hour Workweek Blog

Tim doesn’t update as frequently as other sites, but this is a great place to shake you out of the everyday. It's always good to be a little bit “out there,” and Tim does that well. Sample post: 8 Steps to Getting What You Want Without Formal Credentials

The Corner Office (From The New York Times)

One of my favorite features out there, the weekly Corner Office column interviews a high-level executive to find out what they’ve learned and how they’ve achieved success. It's incredibly insightful and the inspiration for my own Ninja Employee Newsletter. Sample Post: Fostering a Culture of Dissent

Workawesome

Like Lifehacker, Workawesome focuses on practical content — things you can do right now to make your job better and boost your career. From dealing with coworkers to saving time, they have something for everyone. Sample post: How to Deal with Difficult People

I Will Teach You To Be Rich

Ramit isn’t shy about telling you what works and what’s a big waste of time. His blunt style might not jibe with some, but his honesty and intense focus on results is refreshing. The site sounds like a scam, but he’s anything but. Sample post: How I Helped a Friend Find Her Dream Job...Twice

Did I miss any good ones? Please mention your favorite career sites in the comments!

Written by Carlos Portocarrero and published on Wise Bread. Read more articles from Wise Bread.

How Lessons From Moneyball Can Help Your Career

Carlos Portocarrero — Mon, 24 Oct 2011 09:48:10 +0000

Moneyball started out as a book about the inner workings of the Oakland Athletics baseball team and how general manager Billy Beane found success without spending tons of money like the Yankees and Red Sox.

Now they've made the book into a movie starring Brad Pitt and Philip Seymour Hoffman, which so far has made $50 million. That's how much it cost to make the movie, so it's officially going to turn a profit.

But are Beane's "unusual" methods of running a baseball team still profitable? Were they really as effective as they're made out to be?

Honestly? It doesn't matter — the book kicked off a revolution in the baseball world that we can all put to good use in our careers. (See also: 5 Quick Ways to Become a Better Networker Today)

The A's Method

The Athletics relied on statistical analysis rather just the subjective opinions of their scouts. So instead of drafting a player because Don Diamond (how's that for a fake scout name?) said he was "gonna be great," they focused their energy on what their statistical algorithms told them about the players.

And because they didn't have the budget to afford all the obvious players that the other teams wanted, they focused on one specific metric that — at the time — no one else really cared about — on base percentage.

The Secret Sauce

A lot of reviewers and baseball people have focused on that one metric and called it "the Moneyball way," but that's not what made the A's successful. A formula does not success make.

What made them successful was looking for inefficiencies in the market and exploiting them. In other words, they found something valuable that no one else was paying attention to. And that's a strategy we can all use to help us out in our careers.

Focus on the Undervalued

Find something in your company or in your industry that no one else is worried about, and find a way to make it work for you. What you're looking for is inefficiencies or chinks in the armor — something that no one else is trying to fix that could make a big impact for your company.

Let's take a look at a few examples.

Training New Hires

If you work at a small company, you may not have a whole lot of material dedicated to helping new hires learn the ropes. But if you really dig in, you'll find that companies lose a lot of money when replacing a hire or making a new one.

So if you created something (a manual, a checklist, a presentation) that made this onboarding process faster, smoother, and more effective, then you've just created some value.

Process Improvement

When you start a new job, you'll hear "that's how we do things here" a lot. And the tendency is to nod your head, be quiet, and not ruffle any feathers. But that's the best time to try to change things because you have a fresh perspective.

When I worked at a publishing company, we had some buggy software, so we had to manually do a lot of checking and editing before we could start laying out the catalogs we made. Instead of complaining about the technology and convincing the bosses to pay someone to fix it (that wasn't gonna happen), I created a simple search-and-replace cheat sheet.

Once you ran through the steps in the sheet, you were ready to start laying out, and all those problems were essentially fixed in 15 minutes instead of two grueling hours. I passed the sheet around and boom — just like that, our group became way more efficient.

Finding Your Niche

Specialize in one very specific thing and make it your own. Maybe you work for a company that has a website, and you decide to focus on making it a great smartphone experience since so many people browse the web that way.

There are things you can do to make it better for them and to bring in some business from that channel. In the future, maybe you look into creating an app for your company (if it's a good fit).

The goal is to dig deep and find something you can "own" that's also going to be good for business. When you do, you'll be the hero.

Written by Carlos Portocarrero and published on Wise Bread. Read more articles from Wise Bread.

6 Tips to Shrink Your Bills Every Year

Carlos Portocarrero — Thu, 20 Oct 2011 10:36:15 +0000

Everyone wants to make more money — it’s exciting to think of what you can do with some extra cash. But it’s a lot easier to reduce your bills than it is to make more money. I recently cut $120 from my monthly expenses by doing an annual bill audit, and it only took a few hours of work.

A bill audit means you commit to taking a look at your bills once a year and finding ways to maximize where your money is going.

I just finished my own audit, and here are six tips that will help make things go smoothly.

1. Schedule It

This one is crucial — you won’t get it done unless you schedule it. A one-off bill audit is great, but the real savings come from doing this every year. Set an annual reminder in your calendar program of choice, and then get to work.

If you have a day or time of the year that you sit down and do “paperwork,” then add this to the list. Tax time is a good way to remember since you’re looking at all the money you’ve made. (See also: 5 Things Tax Preparers Should Tell You)

2. Itemize

Take a close look at your bills. Don’t just write down the amount you’re paying every month — that’s useless. You need to know what’s inside that bill.

How much is your cable-box rental costing you? What about HBO?
How much is texting costing you? What about overages?
Are you paying for insurance coverage you don’t need anymore?

I found out I could cut roadside assistance because I have AAA now. The point is to look at the details so you can determine if you need every specific line item. Odds are you’ll find something in there you can chuck.

3. Figure Out Your History

How much have you used the stuff you just itemized? Take a look at the past three months (you can find all this online, more likely than not) or so to see what your usage looks like.

How many Netflix movies did you really watch? How many minutes did you use up on your cell phone? Texts? What about data?

Put all this stuff into a spreadsheet and then look and see if there is a cheaper plan you can sign up for that better suits your actual needs, not what you think you need.

Be careful, though — you don’t want to sign up for a lesser plan only to get dinged with overage charges down the line. Pick one that covers you in case your usage bumps up a little.

4. Get Quotes

Thanks to the Internet, this is easy. Insurance companies will let you create and save quotes in minutes. For cell phones, cable, and Internet plans, just browse the different sites, and you should be able to get an idea of what it will cost you to change your plan.

You might be eligible for extra savings if you actually call, so keep that in mind too.

5. Read the Fine Print

If a deal looks too good to be true, it probably is. Make sure you read all the fine print. I switched to a crazy-cheap T-Mobile plan, but it's crazy cheap because they won’t give me any discounts on new phones. I’m OK with that, but some people won’t be.

Know exactly what you’re getting into before you make the jump.

6. Call

I hate talking on the phone, but sometimes this is only way to get certain deals. It’s also a great way to get all your questions answered. I switched my cell phone plan on the phone and at the end of the switch, the customer service representative offered to take an extra $10 off my monthly bill to try some new service they were offering.

After finding out the exact details (read the fine print!), I signed up and set a reminder to kill the plan in two years so I don’t get charged. Calling is how I found out about the insurance coverage I no longer needed. I hate calling, but I like saving more.

Written by Carlos Portocarrero and published on Wise Bread. Read more articles from Wise Bread.

Effort vs. Results: The Difference Between Trying and Getting It Done

Carlos Portocarrero — Mon, 17 Oct 2011 10:36:17 +0000

It's great to see an employee giving his or her best on a project, but it's all for naught if you aren't getting the right results.

Effort is one of those things that a lot of young people are confused by — how can they be faulted if they didn't get the results that were expected of them when they put in 110% of their effort? Welcome to the real world, kids...a world where effort is all well and good, but it will always play a back seat to results.

I had a boss once who gave me a glowing review — she went on and on about what a great job I had done. But as part of the review process she had to pick from three "grades" to give me: very good, average, and below average.

It was a little bit of a shock when she said she was giving me the middle grade. She had a good reason — as a team, we hadn't met the goals we'd set for ourselves. The effort was there — we just weren't getting results. (See also: Goal Setting, Defined and Deconstructed)

How to Get Great Results

In an ideal world, everything you do is aimed at achieving the goals you've set out for yourself or your company set out for you. Here is a step-by-step guide to making sure you aren't wasting time with things that won't help you accomplish your goals.

Identify and Analyze the Problem

You have to know exactly what problem you're addressing. This could be really straightforward stuff like "sell more widgets" or "increase our customer base." For most people, it will be some variation of those two "problems." And if that's too vague for your everyday workload, then it's better to break it off by projects.

That means things like "increase sales for X model" or "lower the bounce rate on our site." Whatever problems your company is facing, make sure you're aware of what they are, because without this part you won't be able to...

Set a Goal

This is the guiding light for any organization, and it should be for you too. Know what your company's goals are, and tie everything you do to those goals. You should be crystal clear on what they are — otherwise the things you do won' t have any greater meaning, and you'll waste time on stuff that doesn't matter.

Some companies publish goals in common areas like the kitchen and lounges — you should do the same. Write your own goals on a little note and stick it next to your monitor or in a drawer you open every day. Seeing this all the time will remind of of what you're trying to do. Which will be easier once you...

Develop a Plan

How do you tackle the goal you've set for yourself? That's the purpose of your plan. It's the roadmap you'll follow when you get lost in the weeds a month later and aren't sure where to go. Since this will be your guide, spend plenty of time on it. If you trust the plan it'll be easier to follow up down the line.

And like any good plan, make sure you...

Measure It

"What you measure is what gets accomplished." Those were the words of famed CEO Gordon Bethune. He was famous for turning around Continental Airlines back in the 90s, and this was one of his credos. He was relentless about measuring and rewarding the very things he was trying to change.

If you're tracking exactly how many widgets are sold on a real-time basis, you'll be able make adjustments on the fly. And you will have to change, which is why you should...

Fail Fast

Don't underestimate the importance of failing fast. People like to think they don't have to fail, but failure is part of achieving results. The sooner you find out if your plan isn't working and can move on to the next idea, the better. Failing fast means you'll find what works sooner and start achieving results quicker.

Written by Carlos Portocarrero and published on Wise Bread. Read more articles from Wise Bread.

Five Tips for a Smooth Nanny Share

Carlos Portocarrero — Fri, 14 Oct 2011 10:36:20 +0000

A nanny share is a great way to cut down on your child-care costs by sharing a nanny with another family. In a nanny share, a nanny watches two (or more) kids from different families at once, therefore allowing the families to split the cost. (See also: Nanny Sharing: Lowering the Cost of Personal Childcare)

Like any other arrangement, there are pluses and minuses. But if you know what you’re doing and you prepare a little bit, you can improve the odds of having a great experience with a nanny share.

I’ve been in two different nanny shares, and here are some things I wish I would’ve known about beforehand.

1. Find the Family First

You may be tempted to find the nanny first, with her being the one who will actually be doing the work . But my suggestion is to find the family you want to share nannies with first — it will make interviewing nannies easier, and the entire process will become less stressful.

We’ve done it both ways (not by choice!), and interviewing families when we had a nanny was tougher. The new families felt like they were “breaking into” an existing arrangement, so they didn’t feel like equals in the process. You want to make sure everyone is on the same page.

2. Create a United Front

You and the other family are essentially one family, so make sure you find one that you jive with. It doesn’t mean you have to be exactly the same or have the same parenting styles, but if one family wants their kids outside as much as possible and the other is worried about dirt and allergies, then it may be a problem.

If a nanny is getting two different directives from each family, she’s going to feel like she can’t please either of her bosses, and that's a recipe for disaster.

3. Monthly Check-Ins

Meet with the other family at least once a month to talk about how things are going. If they have nagging concerns, you should know about them before they become critical problems.

Do the same, although less formally, with the nanny. Are things going as she expected? Is she still OK with doing laundry and light cleaning? It’s great to start out on the same page, but it takes some work to maintain that. Trust me — it’s worth it.

4. Write Up a “Contract”

It doesn’t have to be as formal as it sounds, but you should write down your expectations for the nanny and for the families, so nothing surprises anyone. It’s good to be as detailed as you can get about this stuff. For example, "the nanny will do the children’s laundry (not the grownups') once a week at whichever house she is at, and will fold it and put it in its place" is better than "the nanny will do some light chores."

5. Always Have a Backup Plan

Nannies get sick, get jobs, and move on. It happens. One thing we did not do well was a have a backup when our nanny left us, and that was very stressful. We were lucky my parents were in town to take care of our daughter for a week while we scrambled to find a new nanny (and a new family!).

Our day-care applications were still sitting in a drawer. We had gotten so comfortable with our nanny arrangement that we figured we didn’t need to apply to day cares anymore. Big mistake. Always have several balls rolling in case you need (or want) to make a change.

If you’ve been a part of a nanny share, please leave your favorite tips in the comments!

Written by Carlos Portocarrero and published on Wise Bread. Read more articles from Wise Bread.

Learn New Skills for Free: The Power of Forums

Carlos Portocarrero — Thu, 13 Oct 2011 09:48:13 +0000

Learning a new skill is hard. Whether it’s becoming a better cook or trying to build your own computer, your success rate will improve if you have some help. (See also: 6 Ways to Get Paid to Learn)

That can be expensive — taking classes or hiring someone to help will cost you. But there’s an old-school kind of social media that can help. It isn't talked about very much since it isn’t Twitter or Facebook or Foursquare (ugh).

I’m talking about the good-ol' fashioned forum.

What’s a Forum?

A forum is simply a place where people gather to discuss a common topic. If you’re trying to learn it, I guarantee there’s a decent forum out there of like-minded people talking about everything from growing your own tomatoes to trimming your cat’s whiskers. (Forums are better suited for DIY-ish things like setting up a home theater, growing your own herbs, and around-the-house repairs. For things like learning a new language and perfecting a sport, you're probably better off taking classes.)

The reason forums are so helpful is because they’re filled with people that are knowledgeable and passionate about the topic. Some are like you — they’re there to learn new things. Others are more experienced and can share their tips on how they learned. Then you have the veterans. These people are subject-matter experts and pretty much know everything there is to know about the topic.

Some are even professionals.

You put a collection of experts and newbies together in one place and you end up with a few things:

Lots of Knowledge

Browsing forums is a great way to get learn the basics.

A Place to Ask Questions

Asking questions (and getting them answered in a timely manner) is probably the coolest part of participating in a forum. It’s like Twitter, but everyone here is focused on this one, narrow topic.

Network

Sure, it’s just online, but if you hang out long enough and participate, these people will eventually become part of your network, which is always valuable.

How to Use a Forum to Learn New Things

My experience with forums has been great, as long as you follow a few rules:

Do Your Research

Don’t just join and start demanding questions because you want a quick fix. It will piss everyone off. Make sure you read any threads that are “pinned” to the top of a forum and search (you may have to register for this) thoroughly for your question, since it’s probably been answered already.

Learn the Language

Know the words people use relative to the topic. If I went into a computer-building forum and asked how I can install the video thingy, people would dismiss me right away. Learn the vocab — it’ll make the communication smoother. You should be able to pick all this up in the forum during the research phase — just make sure you get it before you start posting!

Say Please and Thank You

You should do this everywhere in life, but especially in forums. People are being generous with their time and their knowledge, so thank them accordingly. It goes a long way.

I’ve had great experiences with forums. Anandtech helped me figure out the hardware for my last desktop. XDA Developers guided me through the process of rooting my phone. And the Build Your Own PVR forum has given me a wealth of information about how to build my own personal video recorder.

Could I have figured all this out by researching the web? Sure, but there’s nothing like several informed voices helping you out instead of just reading what one person thinks on a website. I highly recommend you try it out.

Written by Carlos Portocarrero and published on Wise Bread. Read more articles from Wise Bread.

5 Ways Google Wallet Can Save You Money

Carlos Portocarrero — Wed, 05 Oct 2011 09:48:18 +0000

Recently, a new technology was unveiled that many experts say will eventually become mainstream. Don’t hold your breath — any time you hear “technology” and “eventually” in the same sentence, it usually means we’ll be waiting around for a while. But Google Wallet is already here...kind of.

Instead of swiping your credit card to pay for things, Google Wallet allows you to pay by tapping your phone on a sensor. Not only that, but you’ll also be able to put all your rewards cards, gift cards, and coupons right on your phone. While Groupon and other "deal" sites have apps of their own, they don't use this NFC technology that lets you just tap your phone to pay since it's so brand new.

Pretty convenient, right?

While the technology is clearly in its infancy (only one phone is supported for launch), here’s how Google Wallet could save you money once it becomes more widespread. (See also: Buying a New Smartphone Without Extending Your Contract)

1. Automatic Savings

You’ll never have to worry about fishing out your rewards card or remembering to bring it along. And that Groupon you bought a while back? It’s all automatically handled by your phone when you check out — that means you’ll never forget to save.

2. More Coupons

This might creep you out, but because companies can track your every purchase (including where you are), they can better target you with coupons and deals. That means getting more coupons you’d actually use. The best part? They’ll all be applied automatically.

3. Stop Getting Screwed on Group Bills

If your share of the bill was $13.56, then simply type that in, bump phones with whoever is paying, and you’re done. No more paying $20 for the appetizer and Coke you ordered because you didn’t have any change. Ka-ching!

4. Instant Check-in for Savings

I’ll be honest — Foursquare is not my cup of tea. I think it’s exhausting to take my phone out and start tip-tapping away every time I want to “check in” somewhere. But tapping my phone up to a sensor on my way in? I’d do that in exchange for some savings if I shop there often.

5. Never Buy a Wallet Again

My phone goes wherever I go, so there’s no need to carry anything else when I go out (cash and ID notwithstanding). Getting rid of my wallet means there’s one less thing I have to buy — I’m a fan of that.

Google Wallet is brand new, and some of these things won’t be a reality for a long time — and it’s not perfect. There are security concerns and battery concerns (you can’t pay if your battery dies).

You should also take a close look at their privacy policy to see if you're OK with Google tracking what you're buying and sharing it with merchants. I haven't used it yet but I personally don't see a problem with it — any time technology can do some of the leg work for us to help save some money, I’m all in!

Would you be willing to sacrifice your wallet for the convenience of putting all your cards on your phone? Let me know in the comments!

Written by Carlos Portocarrero and published on Wise Bread. Read more articles from Wise Bread.

How Investing Drives Us Crazy: Lessons From a Trade

Carlos Portocarrero — Fri, 30 Sep 2011 10:24:16 +0000

Investing can be incredibly frustrating, even when you're doing things "by the book." I'm going to walk you through a recent trade I made using real money, pointing out all the things I did well. Unfortunately, even though I did everything "right," I still lost money on this trade. Let's take a look at what happened. (See also: 7 Common Investing Mistakes)

Starting Out: It's All About the Sentiment

I was convinced the shares of a certain tech company were headed lower. And since I love tech, I had read up on them and knew what was going on. I felt I could make a very strong case to put my money where my mouth was.

So I bought what’s called a bear-put spread. I bought five September puts and sold five September puts at a lower strike. It cost me $275, and it would make me $225 if the stock stayed under $30. At the time, the stock was around $31.

Monitoring Your Trade: Pay Attention

Right after I made the trade, things started to happen in my favor. By August 8, it was all the way down to $25 — good job, Carlos!

Then it climbed up past $35...and I got a little anxious.

And then came the curve ball — a huge tech company bought another big one, and rumors started circulating that the stock I was trading might get bought up as well, which I definitely didn’t see coming.

If you have money on a company, pay attention to every piece of news, even if it isn't directly about that company. Read everything.

If Things Change, Make a Move

This current situation was no longer the situation that existed when I put the trade on. Because of the rumor, my original sentiment no longer applied. At that point, I had two options: stick my head in the sand and do nothing, or get out of the trade.

So I sold out of my trade for a total loss of $70, including commissions. I felt bad losing money, but I was also proud of myself for being proactive and doing “the right thing.” I felt like I was practicing sound risk management, which made me feel like some investing hot-shot who knew what he was doing.

If the landscape changes, get out while you can. Don't let greed keep you hanging on to a trade that's gotten out of hand.

The Aftermath

I was feeling great about my "risk management" skills right up until expiration came around. With the stock at $34 the day before my trade was going to end, I almost stopped paying attention.

But earnings the day before had been a catastrophe and the stock plummeted all the way down to...$28. I would’ve made a profit of $225 if I would’ve held on to the trade. Instead, I was down $70.

Here’s a P&L Chart courtesy of OptionsHouse that shows what my trade did from one day to the next:

It went from being down $275 to making $225 — all in one day! Talk about being filled with regret...

Even when you’re right and do the “responsible” thing, trades can turn against you. All you can do is learn your lesson and move on to the next trade.

Disclaimer: I am an employee of OptionsHouse. LLC and the views and opinions expressed herein are my own and not those of OptionsHouse, LLC or any of its affiliated companies. This post is meant as an informational post and should not be construed as investment advice or a recommendation of any particular security or investment strategy. Any similarities between this hypothetical investment scenario and any actual investment results are unintended and purely coincidental.

Written by Carlos Portocarrero and published on Wise Bread. Read more articles from Wise Bread.

Cable TV Is Here to Stay...for Now

Carlos Portocarrero — Thu, 29 Sep 2011 10:36:13 +0000

The economy is in rough shape, and everyone wants to save a few bucks where they can. And thanks to the Internet, you can cut your cable bill without missing any of your favorite shows.

But after doing some research and running the numbers, I realized that cutting cable won't go mainstream until someone comes up with an easy, convenient solution that gives couch potatoes what they want. Or people stop watching TV.

Until then, cable is here to stay.

There are tons of articles out there on how you should prepare for cutting your cable, but here’s a quick rundown of what you need to do and how much it costs to make the switch. (See also: Now It’s Easier Than Ever to Cut the Cable)

Check the Airwaves

The goal here is to replace all your shows by simply getting an antenna, so the first step is to see what you can get for free via the broadcast networks. That’s ABC, NBC, CBS, FOX, and so on. Then head over to Antennaweb and enter your address — it’ll show you which channels you’re likely to get over the air depending on where you live.

If I were you, I’d put all this into a handy spreadsheet to make things easier to track.

So far so good — we haven’t spent any money yet! But if you don't have one, you'll need to get an antenna. And if you want to get the broadcast channels in HD, you’ll need you may also need to buy an HD tuner depending on what kind of TV you have.

Total Cost: $30 for the antenna and another $50 for the tuner (if you need it)

Stream On

Your spreadsheet is likely to have some shows that you can’t get over the air. Visit Clicker.com to see where on the web you can stream them, or check out this handy chart.

You may be able to find your shows for free if you’re willing to wait a week or so, but if you want them right away, some will charge you — make sure you read the fine print.

Total Cost: Depends, $10–$20 a month

Do You DVR?

If you have a DVR in your cable box and you can’t live without it, you’ll have to find an alternative solution. Sure, there’s TiVo, but the whole point is to cut out monthly bills. There are tons of great articles on how to turn your computer into a DVR, but it takes some knowledge, some new hardware, and patience.

Total Cost: $100 and a fair amount of your time/sanity

Watching on TV

Sure, it’s great you can stream so many shows to your computer, but you want to watch TV on your TV. Cable is pretty good about that.

You’ll need a way to get what you’re streaming showing on your TV. There are tons of options — Roku, Wii, X-Box 360, Apple TV, Slingbox, and the list goes on and on.

If you already have one of these devices, you may be in luck. Odds are it won’t have access to ALL the streaming services, but it’s a start. Ideally, you have a setup that allows you to show anything you can bring up on your computer on your TV.

Total Cost: $50–$150

Your Internet Connection

The elephant in the room is your Internet connection. You might have a fast enough connection that all your shows look nice and crisp when you stream them online, but they may not. If you want to use your Internet connection to replace your cable, you might have to upgrade to a faster connection.

Total Cost: $15–20 a month

Your Savings

Once you run all those numbers you’ll find that the savings might not be as significant as you thought.

After doing all this work, I figured out I could cut my monthly bill from $92 to $60, and I'd have to shell out around $200 in one-time costs. That includes bumping up my Internet speed, buying the shows we can’t get for free, and buying the hardware to get everything up and running.

Thirty bucks a month might be worth it for some, but I'm guessing it's not enough for the masses to go through the hassle. You should run your own numbers to see if cutting cable is worth it for you.

What We Need

We need one easy-to-use/install product you can buy that allows you to get ANY of your shows. Until someone out there can do for television what iTunes did for music, most people will probably stick to cable — with good reason.

Editor's note: Antenna information was updated since initial publication.

Written by Carlos Portocarrero and published on Wise Bread. Read more articles from Wise Bread.

My Number One Tip for College Students

Carlos Portocarrero — Thu, 22 Sep 2011 09:48:30 +0000

When I was in grad school getting an MA in writing, a visiting writer came into our classroom and talked about her career. She took questions at the end and as a young, 23-year-old wannabe writer, I only wanted to know one thing — what's your number one piece of advice for young students like us that are trying to "make it" as writers?

I'll never forget her response — take advantage of your time.

She said time was the number one thing she regretted about when she was in our shoes. You don't realize it until later, but when you're in college, you have more time than you'll ever have again.

As a 30-year-old with a wife and family, I know exactly what she means. When I was in college, I wasted thousands of hours doing unproductive things like watching TV, drinking too much beer, and "hanging out."

I'm not saying you shouldn't have fun while you're in college, but having this much time on your hands is also a great opportunity to get a leg up on everyone else who's going to be vying for a job in a few years.

How can you better spend this valuable time? Here are three ways you could be more productive with your time while you're in college. (See also: 5 Tips for My Career-Clueless College Self)

Learn Something New

This is the perfect time to learn something new. And it doesn't have to be something like writing computer code (although that sure would come in handy) or patent law.

What about learning a new language? Maybe you took some Spanish classes in high school and want to stay fresh before it all completely gets forgotten.

Or learn to play the guitar — learning to play a musical instrument can give you a unique perspective on things for the rest of your life.

You can also challenge yourself and pick up something completely random: chess, swimming, ballroom dancing, magic — whatever you want.

Whatever you wind up trying is almost secondary to the fact that you took the initiative to learn something new all on your own. Whether you fail or succeed matters less; it's the journey that will be valuable.

Perfect Something You Know

Millions of people are "pretty good" at stuff like playing the guitar. But how many are really, really good? I don't know — but I can guarantee you it's a lot less (how's that for scientific?).

Anyway, if you already know how to speak a little Spanish, spend some time to become fluent. Are you a decent tennis player? Try to move a step up and become closer to an elite player.

When I was in college, I was already a very good baseball player. But I spent a lot of time trying to get even better. Part of it was because I still thought I could go pro (I know, I know). But part of me simply loved the game so much that I wanted to use my time to perfect my craft even more.

The larger lesson here? No matter how good you think you are at something, you can always be better. Put in the work and push yourself to be even better than you already are.

Meet New People

A lot of people think going to college is a waste of time (and money). And one of the comebacks you always hear about is networking — you can't get the benefits of networking from a book. Being surrounded by other like-minded people who will soon be out in the world is an invaluable resource.

Unfortunately, most of us stay in our comfort zones and hang out with the same people we always hang out with — people like us. That's not very exciting or helpful.

So instead of falling into those same crowds, seek out different people. Talk to them and get to know them. Learn about their dreams and goals. Find out what makes them tick.

Exposing yourself to different types of people and understanding them is like traveling around the world — that added perspective will make you a more worldly person with more tools to deal with adversity when it comes.

Seriously, Don't Waste Your Time

I hate sounding like the crotchety old guy, but please don't waste all this time. Have your fun, but try to also do some of these things. It will make you a more well-rounded person and when job interviews come around, you'll have a leg up on the competition.

Written by Carlos Portocarrero and published on Wise Bread. Read more articles from Wise Bread.

How to Buy a Desktop Computer

Carlos Portocarrero — Mon, 11 Jul 2011 09:48:29 +0000

So you're in the market for a new computer? What’s it going to be? Mac or Windows? Blu-ray or regular DVD? Touch-screen monitor or standard mouse? With technology advancing so quickly and new features coming so fast, it’s becoming harder and harder to know what to buy. (See also: Why You Should Buy a Desktop Computer)

My advice to you is to treat this like you’d shop for a suit or a dress: find the one that fits your body as comfortable as you can and ignore the rest. Some of us need to do advanced things like video processing, while others just need a machine that runs an Internet Browser and Microsoft Word. It’s all about buying what’s right for you.

Desktop Features That matter

These are the features you want to pay the most attention to when picking out your system.

Processor

This is the brains behind the whole operation. The processor determines how fast you will get stuff done on your computer and, to a large extent, how long it will last until your next upgrade. Buying the fastest processor you can afford is always good advice here. If you want to save some money, find the fastest processor and take one step down from there. It’ll save you some money and you’ll still get great performance.

RAM

The more RAM you have, the less bogged down your system will get. But RAM is easy to upgrade, so don’t break the bank trying to fill up your computer with RAM. Instead, make sure the maximum amount of RAM it can be upgraded to is way up there (10+ GB of RAM). Then look for special deals on RAM and add as you go along.

Operating System

Mac vs. Windows...the eternal question. What’s it going to be? Are you ready to make a switch or do you want to stick with what you’re used to? If you are a novice you may want to consider spending more to get a Mac. For all the power users out there...you don’t need me to tell you what to do.

Hard Drive Capacity

Like RAM, hard drives are easy to buy separately and replace/add as you go along. But they're also relatively cheap to add when you're buying your desktop -- if you're not the type who likes to open up the machine and fiddle with things. Think about all the photos and videos you want to store and go ahead and get as much as you can handle budget-wise.

Desktop Features That Are Just Hype

Leave out these bells and whistles that aren't useful.

Touch Screens

They make for great commercials, but the mouse is still the best way to navigate through the software programs on a computer. While we’re all getting used to using touchscreens on our cell phones and tablets, this is one thing you can do without. Especially if it costs more.

Some computer makers are trying to jump on the 3D hype bandwagon, but it’s so early on in the technology that there’s no sense jumping in when we don’t really know how it will all play out.

Special Features to Consider

Getting the right desktop for you is the most important consideration. Before you go shopping, think about what you're using it for, and how long you're expecting to keep the machine for.

Customer Support

If you know how to update your BIOS and change the boot order of your devices on a computer, then this won’t be a feature you care about — you can probably handle most issues that you’ll encounter. For everyone else, you want to make sure you’re taken care of after you buy a computer. Issues will come up and they can be very frustrating. Knowing you can just pick up the phone and get help is kind of a big deal, so pay attention to the length and quality (read what people are saying) of the warranty, as well as the overall quality of the machine.

Differentiators

This is where the personalization comes into play. What are you going to use this computer for? If it’s editing large photos and videos, you’ll need certain software and lots of RAM. If you’re a gamer, you’re going to want a monster video card. Pay attention to what you’ll be using it for and buy accordingly. Don’t fall into the temptation that you need to have it all! You will be wasting your money — just buy according to your usage.

Best Time to Buy

I like to keep an eye on the machine I want and hold out for a few weeks until I find a coupon or it goes on sale. You can usually find great deals in July and August, right before the newest models hit the shelves, and in November during Black Friday and Cyber Monday sales.

See our shopping calendar for more tips on the best time to buy anything and our other buying guides.

Recommended Desktops

Best PC: Build your own Dell (Dell.com). Remember what I said about buying a computer that fits you and your needs? Dell is a world-class company with great customer support that allows you to build your own machine with a wide variety of components. I’ve built two machines with them and have absolutely no complaints. You can build a very good system for around $500.

Best Mac: iMac ($1,199). The whole machine is built into the monitor and no other desktop looks like it. Combine that with a fast processor, tons of RAM, and everything you need to pretty much run any program you’d like, and you can’t go wrong. It’s more expensive...but there are reasons for that.

Written by Carlos Portocarrero and published on Wise Bread. Read more Shopping articles from Wise Bread.

How to Buy a Laptop Computer

Carlos Portocarrero — Fri, 24 Jun 2011 09:48:21 +0000

Laptops are in the midst of a revolution. They’ve become smaller, more powerful, and cheaper. As more and more people decide to buy laptops as their main computer, the market has fractured into different categories. There are laptops, ultra portables, netbooks, and even desktop replacements that can pretty much do it all but are expensive and pretty heavy. (See also: Why You Should Buy a Desktop Computer)

Laptop Features That Matter

Let’s take a look at the different features we should pay attention to.

Processor

This is the most important part of any computer. Try to get as much processor as you can afford if you want to make your machine last. This is one thing you can’t just upgrade when your machine starts to feel slow...at least not on most laptops.

Memory

Like the processor, if you don't want your laptop to get bogged down if you're doing several things at once, getting as much memory as you can afford will keep you happy and productive.

Battery

If you’re getting a laptop, you’ll want to take it with you on the road at some point — otherwise buy yourself a desktop (it’ll be cheaper). You’ll want to use it without being tied to a power source, and that means you want a battery that will last. Scrambling for a power source in the middle of a project is a nightmare. Make sure you read a review or two that tests battery power to see how long you’ll be able to go without relying on an outlet.

Weight

If you’re going to be lugging this bad boy everywhere, you want to make sure you don’t have a chunker in your bag. Trust me — it will catch up to you in a hurry if you have to carry a 10 pounder around everywhere. I carry my netbook with me to work every day and every ounce makes a difference.

Optical Drive

Netbooks and other ultra portable laptops don't come with a DVD drive. Decide ahead of time whether that'll be something you'll want to have. It narrows down your options. Most full size laptops will come with DVD-RW drives.

Screen Size

A small, lightweight laptop is great for carrying around, but will you be able to work with a 10" screen? If you work with a lot of spreadsheets, that may not be your best choice.

Laptop Features That are Just Hype

There are some features that aren't cost effective to have.

3G/4G Connectivity

If Google’s new Chromebooks are the wave of the future (and they very well might be), then all laptops will have some kind of cellular connectivity and most of our work will be done in the cloud. Which is great, but it’s still too soon. You can’t count on reliable connectivity everywhere you go yet, and when you’re stuck without an Internet connection your machine becomes pretty useless. Besides, this will add another monthly bill to your budget — not worth it just yet.

Hard Drive Capacity

Hard drive space on laptops are much more expensive than for desktops. If you need a ton of storage space, you might want to consider using a desktop instead (or get an external hard drive).

Special Features to Consider

Blu-ray

If you don’t have a Blu-ray player, you may want to consider getting a machine with a Blu-ray drive. Combine it with an HDMI port and you can save yourself the purchase of a dedicated DVD player. If you travel a lot, you’ll appreciate being able to watch movies in all their Blu-ray glory.

Ultra Portability

Netbooks are small and that’s great, but there is a new category of laptops emerging that are smaller and lighter and claim to be just as powerful. The MacBook Air is a marvel of engineering and Samsung’s Series 9 is starting to catch up. If you’re looking for ultra portable machines that are sexy as hell (read: expensive), you may want to look into these.

Best Tme to Buy

If you’re interested in buying a Mac, definitely keep an eye on MacRumor’s Buying Guide, which keeps track of the Mac laptop life cycle. The guide makes it real easy to understand when a new model might be coming and when to buy.

Otherwise, keep an eye out in April. With new models coming out, retailers need to clear out inventory to make space. You can also take advantage of back-to-school sales in August and September for great deals on laptops and other electronics.

See our shopping calendar for more tips on the best time to buy anything and our other buying guides.

Best Value Laptop

HP’s DM1Z. This machine combines the portability of a netbook with the performance of a premium machine. It has the features you want from a portable system (compact, relatively light, great battery life) with a powerful Fusion chip that’ll pretty much run anything you want. This is the machine I upgraded to recently and I’m ecstatic with it. It also has a great keyboard, which is crucial since writing is my thing. The DM1Z was an easy decision, especially since it clocks in around $449 (keep an eye out for coupons!).

Best Special Features Laptop

MacBook Pro 13 inches. Macs are inherently more expensive than their PC counterparts, but if you’re looking for a machine that can pretty much do it all and look great doing it, this is it. It’s got the battery life, a blazing processor, and it looks sexy as hell. You’ll shell out at least $1,199 for the 13-inch version, but you’ll get your money’s worth. If I had the money, I probably would’ve switched to Mac and bought this machine.

Amazon.com Widgets

Written by Carlos Portocarrero and published on Wise Bread. Read more Shopping articles from Wise Bread.

6 Sites Every Car Owner Needs to Bookmark Now

Carlos Portocarrero — Thu, 16 Jun 2011 10:24:12 +0000

Owning a car is very convenient. From buying groceries to making weekend trips to IKEA, when you own a car, it’s a lot easier to get it all done.

One thing that does suck is when your car breaks down. Unless you’re a car nut, how do you know if you’re being scammed? Does a busted Johnson Rod really cost $1,400 to repair? Who knows. That’s why so many car owners are at the mercy of unscrupulous mechanics around the country.

But if you use these six sites, you’ll be able to find someone you can trust and save some money in repairing and maintaining your car. (See also: Disguise Your Stuff to Prevent Car Break-ins)

Facebook

The first thing car owners need is a shop they can trust. You can’t stay on top of maintenance and repairs if you don’t have a mechanic to take the car to.

What better place to start than Facebook? Ask your friends and family who they trust and where they’ve had good experiences.

If a couple people mention the same place, then that’s a great place to try.

Yelp

Facebook is a great starting point, but unless you have a million friends (sad trombone noise), the odds are you won’t get a ton of feedback on a whole bunch of shops. What Yelp does is bring some scale into the equation.

Look up each place that’s near you or was recommended on Facebook, and see what the rest of the world thinks of it. It’s a lot easier to decide between a few places when one has an average of two stars and some horror stories versus another with solid reviews.

Angie’s List

I’ve never used Angie’s List because they charge a membership fee, but I’ve heard good things about them. They’re kind of like Yelp in that they compile user reviews on different contractor services (including mechanics).

If you want to be really thorough or if you’re already a member, definitely check out all the shops you’re considering on this site.

Repairpal

Repairpal will take your make, model, zip code, and specific type of repair and spit out a range of what it might cost to get the repair done. They also break it down by parts and labor.

It’s like getting a second opinion in two minutes, and it’s awesome.

Granted, these are estimates. But they do take your location into account, so they shouldn’t be too far off. The way they compile their data is pretty thorough, so this is a really good resource.

If a shop’s estimate is way off, ask them why and mention you’ve gotten a second opinion...they may have a valid answer. And they may not...

Another cool feature is that you can create an account and save all the information on your car. You can keep track of when your next oil change is due, any work done to the car, etc. Staying on top of your regular maintenance is HUGE if you want to save money by preventing bigger problems from developing.

You can also try AutoMD and DriverSide to get additional estimates on a repair.

Carmaker’s Website

For one reason only — they’ll usually have the car’s manual available online. I know people don’t like reading manuals, but I recently discovered something pretty interesting when it comes to cars — everything you need to know is in the manual.

I was trying to figure out if some of the repairs the dealership had quoted me were B.S. or not, and everything I read pointed to one source — the manual.

How often should I change the oil?
Do I really need to change the air filter?
What maintenance should I do at 90,000 miles?

All this stuff is in the manual. Forget about what the “experts” say — don’t you think the people that actually built the thing would know better?

iTunes/Android Market

Apps are cool. We love apps. So what better way to stay on top of your repairs and checkups?

No one likes spending the time and money to get a car checked out when nothing obvious is wrong, but regular maintenance can keep your car running longer and better. So why not get all your car’s information loaded up into an iPhone or Android app? That way the app can tell you when to get the tires rotated, the oil changed, and all that good stuff.

For the iPhone, I like Car Minder Plus, and for Android aCar is a good free one — although I use Car Maintenance Reminder Pro ($1.99).

These six sites should help you find a place you can trust and stay on top of your regular maintenance. That alone should save you a fair amount of money and stress. For more ways to save, check out these six tools to save money on car repairs.

Written by Carlos Portocarrero and published on Wise Bread. Read more Cars and Transportation articles from Wise Bread.

Excel: The Most Underrated Software You Already Own

Carlos Portocarrero — Mon, 25 Apr 2011 09:36:56 +0000

There’s a program on your computer you’ve used hundreds of times that can do all kinds of amazing things:

It can grab information from the web and create crazy calculations and fancy charts.
It can take pretty much any kind of data file and allow you to play with the data in an infinite number of ways.
It can take thousands of pages of text and give you a really good idea of what the main points are.
It can make a lot of processes automatic and save you hundreds of hours of mindless work.
It can beat Garry Kasparov at chess.*

Microsoft Excel is one of those programs we’ve all used at least a little bit, but most of us haven’t even scratched the surface of what it can do.

There’s a reason why Excel costs $139 and Microsoft Office costs $279 — this is really powerful software that’s capable of some truly amazing things.

But very few of us take full advantage of it.

The Power of Excel

I got my first exposure to Excel’s power a few years ago with an incredible stock-analysis spreadsheet that blew my mind. Then, a couple of weeks ago, I got stuck with a really tedious project and decided to disobey my boss — I found a better way thanks to some developing ninja Excel skills.

It saved me from wasting a bunch of hours of my day, and it made me look like a smart dude. (See also: 5 Efficient Ways to Boost Productivity)

But let’s face it — learning Excel isn’t fun unless it’s going to help you solve an immediate problem. It’s like an umbrella — we only care about it when we need it. Once we’re done, we throw it in the back of the closet and forget about it. But it pays off to learn some of the basics for the next time you run into a roadblock.

Learn by Doing

The next time you get stuck with a tedious task of collecting or organizing data, Google what you’re trying to do along with “excel,” and you’ll get an answer. You may find it tricky, because you have to come up with the overall plan and then figure out how Excel can help. But odds are there is a way Excel can make things easier for you.

So if you’re trying to take thousands of emails and you want to parse out some of the data, you’d search for "parsing data excel." It won’t work 100% of the time, and you may have to learn some Excel lingo, but eventually you'll get it.

There are other places to pick up some Excel basics. Microsoft’s Excel blog is a good place to start. And pay attention to any and all Excel sheets you come across to see how they do certain tasks.

Most important of all: If you meet people who are masters at Excel, ask tons of questions, get their email addresses, follow them on Twitter, and follow them on Facebook. These people will be a HUGE help as you learn all the cool, advanced stuff Excel can do. Believe it or not, people are still more useful than Google.

Improving Your Value

Excel is a powerful piece of software than can help you not only be more efficient at work, but make you look good. If you get really good at it and become the “go to” person for any and all advanced Excel tasks, you’ve just become one of the most valuable people at your workplace.

Think about it this way — if you’re the doorway to getting things done faster and more efficiently, you just turned yourself into a VIP. And VIPs are invaluable to every company.

Anyone else out there have a story of how Excel made your job easier and/or made you look good?

*Microsoft Excel may or may not be actually able to beat Garry Kasparov at chess.

Written by Carlos Portocarrero and published on Wise Bread. Read more Technology articles from Wise Bread.

The Upside of Mass Layoffs

Carlos Portocarrero — Fri, 18 Feb 2011 12:36:13 +0000

Getting fired sucks; there’s no getting around that. But when you’re fired along with a bunch of other people at once, it’s a different story.

In corporate speak, they’re called reorganizations. We call them bloodbaths.

Typically there are some high-level things in play when a mass layoff goes down. From a bad economy to a new CEO with a new direction, it doesn’t always mean you’ve done a bad job or done anything wrong. (See also: You're Fired! 20 Signs That a Pink Slip Is Coming)

This makes it easier to find something positive out of the whole fiasco. Here are four positives to a mass layoff/bloodbath/reorganization.

An Expanded Network

A mass layoff is like poking an anthill with a stick: All those ants fleeing the hill are going to end up somewhere, and it’s up to you to keep in touch with all those people who are being forced to go.

You’ve been working with these people every day for years, and they know you better than you think. Guess what’s going to happen: They’re all going to get jobs doing something else at some other company (or working for themselves). In a matter of months (more or less), your network is going to double or possibly triple, and you’ll have that common ground of having gone through the “reorganization” together.

Companies you didn’t even know existed will now be “infiltrated” with the people that know you and your work the best.

This is huge. For example:

The designer you worked with to crank out that impossible project over the weekend that one time? He’s now a senior designer over at company X.
The project manager who took you under his wing because he saw some potential is now working at a tech startup that is growing fast.
The copywriter that always came by to ask for you to proofread his copy is at an ad agency across town that needs freelancers…didn’t you always want to work at an ad agency?

A strong network is crucial to your long-term career prospects, and a mass layoff means the number of companies that know about you is going to grow fast.

A Fresh Start

When a friend of mine got fired a few years ago, I walked up to him and tried to find the right combination of words to comfort and console.

Instead, he looked relieved: “I can finally leave!”

It struck a chord with those of us that weren’t fired, and for the rest of the day we wondered who the lucky ones really were.

Getting fired is like getting a kick in the pants to go out and do what you really want to do. We all tend to complain about our jobs, but we rarely do anything about it. Once you get fired, you have no choice: It’s time to get your ass in gear.

My friend felt liberated because his job had become more and more tedious and restrictive. While he wanted to free himself from it, it’s hard to leave a full-time job that pays the bills, especially when the economy sucks.

Getting fired gave him a fresh start. He had the time to take a closer look at his life and his career and ask himself that eternal question: What do I really want to do with my life?

Make sure you take advantage of this opportunity and don’t waste it…it doesn’t come around often (hopefully).

A Lesson in Skills

Who survived the bloodbath? Don’t try to write everyone off as a brown-noser that simply “knew the right people.” Take an honest look at the people that were left behind.

Sometimes it’ll be as simple as “all the engineers were kept” or “marketing wasn’t impacted at all," which is still useful — maybe you should pick up some skills in fields that are widely considered untouchable.

Other times it will be more nuanced. If the guy who always contributed new ideas without being asked for them was kept on, that’s something to take into your next job. What about the person who started as a terrible presenter but worked hard to get better? Was that improvement valued enough that they kept him on?

Pay close attention, and you should be able to find some common details that stick out, details that can help when you’ve found a job you love and want to survive the next reorganization.

A Chance to Test Your Mettle

There is a great book out there called A Man’s Search for Meaning by Viktor Frankl. In it he describes his experiences in concentration camps during World War II.

The interesting thing about Frankl is that he viewed these terrible conditions as an opportunity to see what he was made of.

Think about that for a second: A man that was in one of the most horrible places and times in the history of the world thought to himself, “Wow, how many people get to experience something this awful? It’s a great chance to see what I’m capable of in how I react to this.”

If Frankl can turn being in a concentration camp into something positive, we should have no problem taking a positive out of getting fired from a job.

You have no job, and your previous employer just told you they don’t want you anymore: What are you going to do about it?

Are you going to pity yourself and complain that it’s their loss?
Are you going to blame your old boss because he was “a jerk?”
Are you going to cop out and say that you were about to quit anyway?

How about being honest with yourself and taking the time to learn a thing or two about yourself? Ask:

What can I change to make myself a more worthwhile employee?
Who can I talk to about giving me an honest assessment about my work?
What am I going to do differently in the future?

It’s all about learning and growing. If you just got fired and are facing a terrible economy, a monthly mortgage payment, and high-interest credit-card debt, what are you going to do about it?

This is a rare chance to test yourself and see what you’re made of.

What you find may surprise you.

Written by Carlos Portocarrero and published on Wise Bread. Read more articles from Wise Bread.