11 July 2018 FT — Articles to Read

11 July 2018

Question: According to MSN Money, what are 50 ways that you are throwing money away?

Eurozone house price pressure builds – Pg. 2

–          House prices across the Eurozone are rising at the fastest rate since before the global financial crisis, forcing the region’s banks to squeeze the supply of credit to would-be mortgage holders

–          …house prices in the 19-member currency area rose 4.5% in the year to the first quarter of 2018 – a level last seen in early 2007

–          Prices increased by double digits in Latvia, Slovenia, Ireland, Portugal and Slovakia

–          With the ECB almost certain to keep its benchmark interest rate at a record low of zero for at least another year, authorities across the region have had to introduce other measures to tighten bank lending

–          In Ireland, where prices have risen 12.3% over the past year, the central bank at the beginning of 2018 imposed a stricter cap on the size of loans banks can make based on borrowers’ incomes

–          In Portugal, where prices are up 12.2%, the central bank will from July introduce a series of caps based on people’s incomes and the value of a property in proportion to the borrower’s deposit

Kavanaugh faces confirmation bruising – Pg. 2

–          Mr Kavanaugh was born in the nation’s capital in 1965

–          …Yale University and Yale law school

–          ….solid conservative who has ruled against government departments such as the EPA and said the structure of the Consumer Financial Protection Bureau was unconstitutional, as it restricted the president’s ability to fire the director

–          He is known as a defender of presidential authority, with a broad view of the government’s power to detain suspected terrorists and prosecute them in military commissions as opposed to federal courts

Thai children rescued from flooded cave in ‘mission impossible’ – Pg. 4

–          (Prof Note: I am happy that no harm came to the children.  However, the rescue did cause one fatality.  What I want to learn is the fate of the adult that lead the children into harm’s way and caused a death!)

Chinese policymakers keep debt investors guessing on property developer issuance – Pg. 19

–          China’s top economic planning commission is giving global fixed income investors a headache on property developer debt

–          Some $24bn of Chinese property developer debt will mature in 2019, up from $6.5bn this year, …

Answer: (1) Running up balances on high-interest credit cards; (2) Throwing money away on layaway; (3) Trying to time the stock market (Prof Note: dollar cost average!); (4) Ignoring refurbished goods (Prof Note: I do this…I do not want someone else’s problem(s); (5) Closing the box on ‘Open Box’ savings; (6) Forgetting your company’s employee stock purchase plan (Prof Note: Yes, there can be advantages if able to purchase at a discount BUT this ignores diversification); (7) Paying full price for gas (Prof Note: I keep a spreadsheet of gas costs!); (8) Paying full price for anything; (9) Paying sales tax; (10) Not having a shopping accountability partner (Prof Note: ???); (11) Not shopping ahead for next year (Prof Note: Look for me in in the stores AFTER holidays…I am the big buyer!); (12) Impulse shopping; (13) Missing out on matching contributions (Prof Note: Never give up free money); (14) Lacking a clearly defined plan (Prof Note: Fail to plan; plan to fail?); (15) Tapping your retirement fund for extra cash; (16) Spending too much while eating out (Prof Note: water instead of the $3.00 ice tea); (17) Not inflating your tires properly; (18) Confusing needs and wants; (19) Giving to wasteful charities (Prof Note: My Foundations specifically focuses on educational pursuits); (20) Gambling; (21) Neglecting new customer specials; (22) Skipping happy hour specials; (23) Not clipping grocery coupons; (24) Skipping the car warranty; (25) Leaving unused electronics plugged in; (26) Grocery shopping when you’re hungry; (27) Ignoring in-store savings apps (Prof Note: Did not even know these existed); (28) Making pricey credit card balance transfers; (29) Overlooking generics; (30) Stocking up on bottled water; (31) Paying high shipping fees; (32) Paying checking account fees (Prof Note: My bank FEARS me when it comes to fees!); (33) Neglecting your gym membership; (34) Missing Post-holiday sales (Prof Note: Not me…I am there!); (35) Buying gift cards at a store or restaurant; (36) Not signing up for email offers; (37) Doing last-minute grocery shopping; (38) Not suing all your warehouse club benefits; (39) Missing bill payments; (40) Choosing valet parking to save time (Prof Note: I cannot stand a lack of parking and avoid restaurants without an easy lot to park); (41) Buying food at sporting events (Prof Note: How about attending sporting events?  Ridiculous costs!); (42) Paying gym signup or initiation fees; (43) Parking at hotel restaurants (Prof Note: I remember pulling up to a Trump hotel and the valet parking was $50.  I was on an expense account.  I flipped out and asked where the closest parking garage was located.  They valet said, “Give me $20.  I will park it right here in front and it will wait for you.”  I gave him $20); (44) Skipping the dentist; (45) Skipping your annual doctor visit; (46) Not shopping around to fill your prescription; (47) Not taking advantage of company wellness benefits; (48) Buying products at the salon or spa; (49) Ignoring rebate offers; (50) (Prof Note: I missed one…sorry)