Benefit of Paying Credit Card Balance Every Week

I've started to pay several of our credit cards every week, before the bill is sent.   I do this because I share 3-4 credit cards with family members.   Since I don't know what they are spending, I check periodically to see the balance on the card, so that I will have enough funds to pay the monthly bill.

Since I check the bill, I decided I might as well pay the balance, even though it is not due yet.  That way I don't forget or miss paying a large bill when it comes.  In addition, I am effectively spending on a cash basis, since I pay the balance every week.

Paying the balance weekly may also increase one's credit score since the percent utilization is lower when the monthly bill is issued.  Bonus!

For more on Ideas You Can Use, check back every Tuesday for a new segment.

This is not financial nor credit card advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Student Loans - Just Say No

Student Loans are the worst consumer loans.

• Student loan debt is a crisis right now. 
• Student loans are offered to 18 year olds who usually have little financial understanding.  Often loans are used for living expenses in addition to college tuition.
• Many student loan borrowers are unable to pay off their student loans
• Student loans, except in extraordinary hardship, cannot be discharged by bankruptcy.

The Consumer Protection Financial Bureau, CPFB, ought to label student loans as Predatory Loans.

Here's my solution:

• Eliminate the federal funded student loan program.   Data shows that it leaves many borrowers with significant debt that they will not be able to repay. IMHO, this program is a failure.
• Enable future student loans to be easily discharged in bankruptcy.  Let the lenders/banks take the risk.

The result?    Tuition costs at many universities would be reduced without availability of easy money.   More people would consider alternatives to a 4 year degree.   Future graduates would no longer have onerous student loan debt for most of their lives.

For more on Ideas You Can Use, check back every  Tuesday  for a new segment.

This is not financial nor education advice. Please consult a professional advisor.

Copyright © 2024 Achievement Catalyst, LLC

Financial Mistakes that People Make

From ChatGPT:

There are many financial mistakes that people make, but some of the most common ones are:

• Not having an emergency fund: This can leave you vulnerable to unexpected expenses or income loss, and force you to rely on high-interest debt1.
• Paying off the wrong debt first: Some people focus on paying off small debts instead of high-interest ones, which can cost them more money in the long run1.
• Missing out on employer matching contributions: If your employer offers a retirement plan with matching contributions, you should take advantage of it as much as possible, otherwise you are leaving free money on the table1.
• Using credit cards for everyday expenses: This can lead to overspending and accumulating debt that is hard to pay off, especially if you only pay the minimum amount each month2.
• Borrowing money from friends or family: This can strain your relationships and create awkward situations if you can’t repay them on time or at all2.

1: CNBC 2: Investopedia

For more on Ideas You Can Use, check back every Tuesday for a new segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2024 Achievement Catalyst, LLC

Regarded Investment Strategy - w/o 12/19/22

Sorry for the late post.   There was no change in the investment strategy.   Stay 100% invested in short term money market funds with yields at almost 4%.

For more on Strategies and Plans, check back every Monday for a new segment.

This is not financial nor investment advice. Please consult a professional advisor.

Copyright © 2022 Achievement Catalyst, LLC

Changing Car Rental Prices

Recently, I reserved a rental car for a trip a couple months in advance.   Before the trip, I checked the rental car prices and found that I could change to a lower price, for exactly the same rental period.   It seems that car rental prices change on a daily basis.   Several times, I was able to reduce our rental cost by $20 and up to $200 from the same rental car company.   It was worth checking every few days and learning if I could get a lower price.

For more on Ideas You Can, check back Tuesdays for a new segment.

This is not financial nor car rental advice. Please consult a professional advisor.

Copyright © 2022 Achievement Catalyst, LLC

Fixed: Check Engine Light P0442, P0456, P0446

When our vehicles have a Check Engine light showing, I take it to our local AutoZone for a free diagnosis.

In the past, when our 2004 Toyota Corolla had a check engine light it was usually P0442, which was 

likely the fuel tank cap not being closed completely.  However, the fall of 2021, the check engine light started showing P0446 and P0456, which are also small EVAP leaks and possibly could be a leak in the fuel tank cap.  However, I was sure that I had tightened the fuel cap each time.   

At first it was a P0442 code. I took the following steps to address the problem:

• Cleaned fuel tank cap gasket and fuel tank filler pipe.
• Make sure the fuel tank cap clicks when tightened.

After a several fill ups the check engine light went off.

But the check engine light returned.  This time as a P0446, which sounded possibly worse.  Again, I took the same steps:

• Cleaned fuel tank cap gasket and fuel tank filler pipe.
• Make sure the fuel tank cap clicks when tightened.

And the light turned off again after a few fill ups.

But after a few weeks, the check engine light returned as a P0456.   It did not go away after a few fill ups.

I decided to do a cheap DIY repair:  Buy a new Toyota OEM gas cap.  (I read that secondary market gas caps often have leaks that cause a check engine light.)    The cost was only $25.   After several fill ups, the check engine light went off and hasn't come back on.

Saved at least $100 since that was the cost for a mechanic to diagnose the issue.

Disclosure:  No compensation was received for this post.

For more on Ideas You Can Use, check back every  Tuesday for a new segment.

This is not financial nor car maintenance advice. Please consult a professional advisor.

Copyright © 2022 Achievement Catalyst, LLC

Using Excel to Do Our Taxes

I don't use tax preparation software to do my taxes.    I use Excel and create worksheets for each form I need, and then link the worksheets together as needed.

Here're the reasons I do that:

• I am cheap.  I don't want to pay $30-60 each year for tax prep software.
• I get a better understanding of how financial events affect my taxes, since I read each instruction to create a worksheet for a form.  Essentially, I am doing the tax return by hand, and using Excel to do the math calculations, which eliminates a major cause of errors.
• Using Excel allows me to easily run scenarios to determine how our tax liability is affected.  For example, I can plug in different numbers for Roth conversions to determine the best conversion amount, from a tax perspective.   Also, I can update the input information very quickly to get a real time estimate as the year comes to a close.

Of course, as many people point out, there are some downsides to using Excel to do my taxes:

• I may misinterpret the calculations on a form and enter an incorrect on Excel. I don't think this has happened yet.
• I need to update Excel each year if there are changes.  For many years, the same format was used.  However, recently, the IRS seems to be routinely changing the 1040 format and a few other forms on an annual basis.  This has been tedious chore in some years, causing me to delay doing our taxes.
• I may copy the number incorrectly to the actual tax form.  This has happened a couple times, but I was able to correct via a phone call.
• I may forget a new form.  This has happened once and I submitted form later.

For me, the pros outweigh the risks at this time.  I do expect that I will be less interested/capable as I get older, and may have to transfer the responsibility to a paid professional sometime in the future. 

However, for now, I will continue to do our tax returns by hand using Excel.

For more on Ideas You Can Use, check back Tuesdays for a new segment.

This is not financial nor tax advice. Please consult a professional advisor.

Copyright © 2022 Achievement Catalyst, LLC

Stock Market Entertainment Tomorrow

After closing at %94.20 yesterday, Gamestop (GME) was 28.94% to $123.14 during the day, and up 20.06% to $143.20 after hours.  I'm getting up early tomorrow and checking the premarket activity. If GME move up substantially, I expect tomorrow to be a wild market, for GME and other meme stocks from Wall Street Bets. 

For more on Ideas You Can Use, check back Tuesdays for a new segment.

This is not financial nor investment advice. Please consult a professional advisor.

Copyright © 2022 Achievement Catalyst, LLC

Regretting Buying Bubble Stocks

The bubble is ending and I caused it :-)  I bought GME, AMC, BB, KOSS and NOK.   I already owned EXPR and SKT.   Already down today on most purchases, around 25-50% in just a day.

The silver lining is I only put in a little money, so it won't cost too much for getting "educated." 

Disclosure:  I own shares of GME, AMC, BB, KOSS, NOK, EXPR and SKT.  I am long SKT calls and short/covered AMC and EXPR calls at time of posting.

Update:  The stocks have recovered some.   I closed out the AMC covered call for a profit, since AMC was down so much.

For more on  Ideas You Can Use, check back Tuesdays for a new segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2021 Achievement Catalyst, LLC

Received an IRS Notice

Yesterday, I received an IRS notice regarding our 2019 tax return.  Finally.  I filed the return in April 2020.   Due to COVID shutdowns, the IRS did not acknowledge receipt until August 2020.   In September 2020, I called regarding status and was informed that the IRS was issuing a notice on our 2019 tax return.

I thought I knew the reason, but decided to wait for the notice rather than preempt it, due Strategy #3 below.

Here is my strategy for dealing with IRS notices:

1. Keep calm.  Read the letter and understand the IRS conclusion and any requests.
2. Assume the IRS conclusion may be incorrect due to lack of complete information.  In my experience, IRS notices are usually wrong in the favor of the IRS about 80% of time.
3. Determine what's needed to satisfy the request and provide ONLY that information to the IRS.  DO NOT provide extra information that was not requested.
4. Respond quickly, within a day or two.  

As I suspected, the request was for a form that I didn't submit.   It was a new form in 2019 used to calculated a number that the taxpayer previously did on his own without the form.  I filled out the form and sent it in with a copy of the notice letter today.

Hopefully, this will satisfy the IRS and my refund will be issued in 6-8 weeks. I will likely get interest from April 2020 at 3% on the refund amount.  Better than bank interest.

Disclosure:  I was a tax preparer for 5 years and still do my own taxes by hand.

For more on Ideas You Can Use, check back Tuesdays for a new segment.

This is not financial nor tax advice. Please consult a professional advisor.

Copyright © 2020 Achievement Catalyst, LLC

Let's Fully Open the IRS

I'm a frustrated taxpayer.

I submitted my return by mail in mid April 2020.  Where's My Refund app does not yet acknowledge receipt.

I finally was able to talk to customer service at the IRS last week and was told that the offices won't be staffed to work on mail returns until August 1, 2020. 

Please get the IRS fully open soon so that mail in returns can be processed.

For more on  Ideas You Can Use, check back  Tuesdays for a new segment.

This is not financial, pandemic or tax advice. Please consult a professional advisor.

Copyright © 2020 Achievement Catalyst, LLC

One Investing Theme

I've been looking at some of the stock with rocket recoveries since the March 2020 bottom:  WIX, SHOP, SQ and others.  A common theme is that they are companies that can positively impact small business operations.   WIX is a website tool for small business.  SHOP works with small businesses for online orders, including websites.   SQ is a payment processor for small businesses. 

Probably too late to buy now, but worth considering if/when the market pulls back.

Full Disclosure:  We own shares of SQ at the time of this posting.

For more on  Ideas You Can Use, check back Tuesdays for a new segment.

This is not financial nor investment advice. Please consult a professional advisor.

Copyright © 2020 Achievement Catalyst, LLC

An Example of Exuberance

This market is crazy.  Here's an example.

Workhorse (WKHS) was $2.63 on June 1, 2020.   Today it hit $20.00 before pulling back.   All on rumors of the USPS closing bids for the next generation mail truck on July 14.   Workhouse is one of three remaining bidders and the only all electric design.

Currently, Workhorse loses money on every vehicle it sells, based on sales to UPS.   There are several larger companies now competing in the same area.    However, Workhorse is riding the same wave as other EV companies, such as Nio and Nikola.

I've been selling into this rally.   My last sale was at $15.15.  Unbelievable.  I've owned shares since 2014 at much lower prices.   I expected to lose my entire investment eventually.  Not complaining and enjoying the ride.  But fully expect the price will come back to reality soon.

Full Disclosure:   We own shares of WKHS.

For more on Ideas You Can Use, check back Tuesdays  for a new segment.

This is not financial nor investment advice. Please consult a professional advisor.

Copyright © 2020 Achievement Catalyst, LLC

Prepping for a Potential Lockdown or Quarantine

COVID-19 seems forgotten, but it's not gone.

Just in case there a is resurgence of COVID-19, we have decided stock up again on various good, while the supplies are good.   Dry and canned goods for the pantry, frozen vegetables for the freezer, and paper goods for the house. 

We will only be stock on foods that we usually eat and paper goods that we usually use.  That way, if there is no resurgence, we will be able to work down the inventory easily.

Hopefully, there will be no resurgence, but we don't want hope to be our only preparation.

For more on Ideas You Can Use, check back Tuesdays  for a new segment.

This is not financial, health or pandemic advice. Please consult a professional advisor.

Copyright © 2020 Achievement Catalyst, LLC

Venturing Out after COVID Lockdown

Our state has started reopening:  elective medical and manufacturing last week and retail stores, outside dining, and personal services this week.  Next week will be indoor dining.    Still to come:  daycare, schools, gyms, and bars.

Our plan is to slowly return to normalcy by restricting daily exposure at this public places.  Specifically, we'll try to limit daily exposure at public places to 2 exposures per day.   That way we reduce the daily probability of being exposed to an infected person.  Also, in most cases, we won't be in contact with any person for an extended time, e.g more than a minute.

The exposure exceptions are personal service and elective medical visits, which may have up to an hour of contact.  I plan to get a haircut this week, on the first day of opening.  Fortunately, my service is fast, only about 15 minutes.    For now, I will pass on routine medical visits and tests since to reduce exposure to people in hospitals.

With declining overall infections, we will increase the number of daily exposures as time passes.  If overall infections increase, we will reduce the number of daily exposures.

For more on Ideas You Can, check back Tuesday for a new segment.

This is not financial or health  advice. Please consult a professional advisor.

Copyright © 2020 Achievement Catalyst, LLC

Best Times for Lockdown Shopping

With stay-at-home orders, we only go out to do shopping for groceries and other essential.    The main stores for us are Kroger, Whole Foods, and Costco.

After several shopping trips to each, here is my conclusion for best times (least crowds) and worst times (most crowds, often with lines).

Best Time:

• Within 1 hour of closing.    Stores are generally not crowded.   No lines to enter.  However, shopping has to be quickly and efficiently since stores close promptly or a little ahead of schedule (Costco).

Worst Time

• Midday between 10am-2pm.  Most crowded time.  Lots of families.  Often a line to enter store (Costco). 
• Over 60 time -   I only tried this once at Kroger.   It was very crowded.   Much less crowded after the special shopping hour.  Haven't tried Whole Foods special time yet.

So most of my shopping trips are done about an hour before closing.   

For more on Ideas You Can Use, check back Tuesdays  for a new segment.

This is not financial or shopping advice. Please consult a professional advisor.

Copyright © 2020 Achievement Catalyst, LLC

My Take on Coronavirus Survival

Full Disclosure:  I am not a medical professional nor do I have medical training.

I have been following a number of studies, reports, and presentations on COVID-19 status.   My conclusion is that COVID-19 may be fatal for infected individuals that have inflammation pre-existing conditions.

Inflammation conditions already reported include:

• Diabetes
• Heart Disease
• Asthma 

I would add the following:

• Autoimmune diseases
• Rheumatoid Arthritis

Perhaps that's why hydroxychloroquine has worked for some patients.   It's a treatment for an autoimmune disease.

All speculation on my part, but based on the qualitative data that is being reported.

For more on Ideas You Can Use, check back Tuesdays  for a new segment.

This is not financial or medical advice. Please consult a professional advisor.

Copyright © 2020 Achievement Catalyst, LLC

Looking for Cash Opportunities

Cash is king for now.

There will be lots of attractive opportunities for those with cash:  stocks, real estate, purchases.  I'll be actively looking for good deals.

For more on Ideas You Can Use, check back  Tuesdays for a new segment.

This is not financial or investment advice. Please consult a professional advisor.

Copyright © 2020 Achievement Catalyst, LLC

Making (Expensive) Razor Cartridges Last Longer

The multiblade razors are great for shaving, but they are so expensive.   A retired employee from a razor company told me a way to make razors last longer:  Dry them with a hair dryer.  His rationale was that even though the blades are stainless steel, they are so thin that residual water can cause enough oxidation (rust) to dull the sharpness of the edge. 

For a while, I've been drying the razors with a towel, which seemed to prolong the life of the razon.  Now I am trying the hair dryer method to see if I get better results.

For more on  Ideas You Can Use, check back Tuesdays for a new segment.

This is not financial or shaving advice. Please consult a professional advisor.

Copyright © 2019 Achievement Catalyst, LLC

All News is Bad News

Lately, it seems that any and all news causes the stock market to decline.  Probably what ever the Fed does tomorrow will do the same. 

• Raise interest rates - This is the most likely scenario.   The stock market will view this as too aggressive since the economy is already slowing down and heading towards recession.   Even with a dovish 2019 forecast, an interest rate increase will be viewed as too hawkish.  Result - the market declines.
• No change to interest rates - This is a possibility.   The stock market will view this as an acknowledgement the Fed has already raised interest rates too much and is concerned about causing a recession.   Result - the market declines.
• Lower interest rates - This is unlikely.   The stock market will view this as a recession being imminent.  Result - the market declines significantly.

12 of the last 13 times the Fed raised interest rates, a recession occurred.  The market knows this and that's why all the Fed news tomorrow will be bad news for the stock market.

For more on Ideas You Can Use, check back Tuesdays  for a new segment.

This is not financial or investment advice. Please consult a professional advisor.

Copyright © 2018 Achievement Catalyst, LLC