Personal Financial Advice has a guide on how to get bumped from an overbooked flight. With a little bit of preplanning you can fly for free virtually anywhere. With Christmas travel this time of year, this could be useful to score some free plane tickets.
Read the full article here. The basic summary is to try to get tickets that are overbooked and let the ticketing agents know early that you will volunteer to give up your seat in exchange for a seat on the next flight, and a travel voucher for another flight.
Sunday, December 13, 2009
Thursday, November 26, 2009
Saturday, September 26, 2009
McDonald's Sandwiches
McDonald’s, my favorite source of fast-food based breakfasts, currently has their Sausage McMuffin on sale for $1. This would be very good for me, except for one problem, I really enjoy the Sausage McMuffin with Egg sandwich much more than its eggless cousin. The Sausage McMuffin with Egg sandwich is still priced at $2.49 (or $2.59 at some locations around here), that’s $1.49 simply for an egg fried into the shape of a patty. That’s roughly half the price of a dozen free-range, organic, large, AA grade eggs from Amazon Fresh.
Being my usual, frugal self I asked how much it cost for the egg patty by itself. Those are 65¢. So I ordered a few of the $1 Sausage McMuffins and an equal number of egg patties. I saved 84¢, plus tax, per sandwich just by adding the egg myself.
McDonald’s would be making 84¢ additional profit by paying an employee to put that egg on my sandwich. Assuming a very slow employee takes 15 seconds to get an egg from the warming box and place it on a sandwich, and that employee has no other job requirements during the breakfast rush, that egg placer would be generating $201.60 in value per hour, minus the cost of the eggs and the local minimum wage as their pay.
Me, with experience working in very high-volume, fast-food production could probably do that egg placement in 3-4 seconds, generating 4-5x the value per hour. If they were to offer me $100 per hour I could probably bring myself to inserting myself in the machine known as the McDonald’s kitchen. Sadly, I do not believe there are any fast-food restaurants in this area that receive the volume of business required to keep me completely busy during the breakfast hours.
This is not an endorsement of McDonald’s as either a healthy meal option, nor as a good value for your money. Their breakfast food merely tastes good to me, and therefore I am writing about my experience.
Being my usual, frugal self I asked how much it cost for the egg patty by itself. Those are 65¢. So I ordered a few of the $1 Sausage McMuffins and an equal number of egg patties. I saved 84¢, plus tax, per sandwich just by adding the egg myself.
McDonald’s would be making 84¢ additional profit by paying an employee to put that egg on my sandwich. Assuming a very slow employee takes 15 seconds to get an egg from the warming box and place it on a sandwich, and that employee has no other job requirements during the breakfast rush, that egg placer would be generating $201.60 in value per hour, minus the cost of the eggs and the local minimum wage as their pay.
Me, with experience working in very high-volume, fast-food production could probably do that egg placement in 3-4 seconds, generating 4-5x the value per hour. If they were to offer me $100 per hour I could probably bring myself to inserting myself in the machine known as the McDonald’s kitchen. Sadly, I do not believe there are any fast-food restaurants in this area that receive the volume of business required to keep me completely busy during the breakfast hours.
This is not an endorsement of McDonald’s as either a healthy meal option, nor as a good value for your money. Their breakfast food merely tastes good to me, and therefore I am writing about my experience.
Sunday, September 13, 2009
Who Profits When You Buy Gas?
How much money does the oil company make per gallon of gas sold? Let’s find out.
For this calculation I am using ExxonMobil, since I have their 2008 annual report sitting on my desktop at the moment. In 2008, ExxonMobil had total revenues of $477.36 billion. Of that, they paid $36.53 billion in taxes (≈7.65%) and had net profits of $45.22 billion (≈9.47% margin). Using these figures, we’ll calculate the profit on the average gallon of gas sold in Washington State assuming the sale cost is $2.999 per gallon.
Assuming we buy one gallon of gas for $2.999 at an ExxonMobil gas station:
18.4¢ is paid to the Federal government in fuel taxes
37.5¢ is paid to the State of Washington in fuel taxes
I do not believe we pay sales tax on top of the fuel tax (I could be wrong), and I am assuming no additional, local taxes are added to the bill.
After these taxes are subtracted from the original $2.999 sale, ExxonMobil keeps $2.44 per gallon. They then pay an average of $0.187 in state and federal taxes on that revenue, the 7.65% calculated above. ExxonMobil will spend $2.253 per gallon in operating expenses; drilling or buying crude oil, refining the oil into gasoline, transporting to the gas station, operating the gas station, etc. That leaves the 9.47% margin calculated above, or $0.231 per gallon.
When the governments make more than three times as much per gallon of gas as the oil company does, I think we have a problem. The government isn’t doing the work, yet they are receiving the most financial benefit. I see a problem that must be corrected. And the inmates that are currently running the asylum think the "evil" oil companies aren't paying their fair share? What is "their fair share"?
For this calculation I am using ExxonMobil, since I have their 2008 annual report sitting on my desktop at the moment. In 2008, ExxonMobil had total revenues of $477.36 billion. Of that, they paid $36.53 billion in taxes (≈7.65%) and had net profits of $45.22 billion (≈9.47% margin). Using these figures, we’ll calculate the profit on the average gallon of gas sold in Washington State assuming the sale cost is $2.999 per gallon.
Assuming we buy one gallon of gas for $2.999 at an ExxonMobil gas station:
18.4¢ is paid to the Federal government in fuel taxes
37.5¢ is paid to the State of Washington in fuel taxes
I do not believe we pay sales tax on top of the fuel tax (I could be wrong), and I am assuming no additional, local taxes are added to the bill.
After these taxes are subtracted from the original $2.999 sale, ExxonMobil keeps $2.44 per gallon. They then pay an average of $0.187 in state and federal taxes on that revenue, the 7.65% calculated above. ExxonMobil will spend $2.253 per gallon in operating expenses; drilling or buying crude oil, refining the oil into gasoline, transporting to the gas station, operating the gas station, etc. That leaves the 9.47% margin calculated above, or $0.231 per gallon.
When the governments make more than three times as much per gallon of gas as the oil company does, I think we have a problem. The government isn’t doing the work, yet they are receiving the most financial benefit. I see a problem that must be corrected. And the inmates that are currently running the asylum think the "evil" oil companies aren't paying their fair share? What is "their fair share"?
Thursday, September 10, 2009
More Cheap Eats
Although getting good prices on groceries is always rewarding, it doesn't beat getting fresh produce from your own garden. Whether you have a large garden in your yard for growing, or grow plants in pots by the window, anyone can garden. Fresh veggies from your own garden also contain no synthetic fertilizers or pesticide residues, unless of course, you added them yourself.
A quick guide to maximize your garden harvest can be found here.
A quick guide to maximize your garden harvest can be found here.
Monday, August 31, 2009
Cheap Grocery Shopping
Monday, June 15, 2009
Viking Arthur on the Economy
Arthur, the author of Arthur's Hall of Viking Manliness provides a good overview of what happened to the economy and why. He places blame where it belongs, virtually everyone.
Read the full article here...
Read the full article here...
Thursday, June 4, 2009
Government Motors
I sold all of my stock in Government Motors today. I had bought a few hundred shares very cheaply a few weeks ago on the gamble that somehow the government wouldn’t %@#* things up. I obviously had too much faith in those people. On a bright note, TiVo stock did well today on news that they won their lawsuit against EchoStar. So it was not a completely dark day where my portfolio is concerned.
Tomorrow may be darker as we learn more about Obama's outright theft of a multi-billion dollar, once great company. Now we get to watch Ford and Toyota fight it out to become that largest car manufacturer in the US.
Tomorrow may be darker as we learn more about Obama's outright theft of a multi-billion dollar, once great company. Now we get to watch Ford and Toyota fight it out to become that largest car manufacturer in the US.
Wednesday, April 15, 2009
Taxes 2008
According to the Seattle Times, people shouldn’t protest their taxes since the vast majority of people are paying less taxes now than in the last 30 years. The paper claims that the vast majority of people pay an average of 9% of their income in federal taxes. I claim BS.
Looking at my figures for the year, working part time while attending school full time earned me $10,577 from all income sources. Of that $10.6K I paid $876 in federal withholdings, $631 in socialist security, $251 in fuel taxes, $147 in Medicare taxes, $126 L&I taxes, $94 in sales tax, and $81 in vehicle registration taxes. Add all of those up and I paid 20.86% of my 2008 income in taxes. This is my second largest expense, the largest being school.
I misplaced many of my receipts from the first part of the year, so I know that the sales tax figure I'm using is actually lower than it should be. The federal government claims that only the wealthy will be getting their taxes increased. I plan to be one of those wealthy people in a few years and I don’t see why I should be penalized for being more productive to society than I am today.
The government is penalizing the most productive part of our economy in order to subsidize the least productive part. The wealthiest individuals and the most profitable businesses pay trillions in taxes, while the government is giving that money away to people who make very little money and to businesses that have been run into the ground as a result of poor management. And some people truly wonder why tens of thousands of people are out protesting today?
Looking at my figures for the year, working part time while attending school full time earned me $10,577 from all income sources. Of that $10.6K I paid $876 in federal withholdings, $631 in socialist security, $251 in fuel taxes, $147 in Medicare taxes, $126 L&I taxes, $94 in sales tax, and $81 in vehicle registration taxes. Add all of those up and I paid 20.86% of my 2008 income in taxes. This is my second largest expense, the largest being school.
I misplaced many of my receipts from the first part of the year, so I know that the sales tax figure I'm using is actually lower than it should be. The federal government claims that only the wealthy will be getting their taxes increased. I plan to be one of those wealthy people in a few years and I don’t see why I should be penalized for being more productive to society than I am today.
The government is penalizing the most productive part of our economy in order to subsidize the least productive part. The wealthiest individuals and the most profitable businesses pay trillions in taxes, while the government is giving that money away to people who make very little money and to businesses that have been run into the ground as a result of poor management. And some people truly wonder why tens of thousands of people are out protesting today?
Sunday, March 29, 2009
Thursday, March 26, 2009
Tax Deduction
As many people start thinking about starting their income taxes, here's a little story I found:
Please consult a tax attorney before attempting such a write-off. Also, consuming cigarettes in any quantity is unhealthy, both physically and financially.
Here's the kind of accountant you've got to admire. Last year he deducted eighty cartons of cigarettes from my income tax. Called it loss by fire!Quote from Jacob Braude's Complete Speaker's & Toastmaster's Library: Business and Professional Pointmakers. Published in 1965.
Please consult a tax attorney before attempting such a write-off. Also, consuming cigarettes in any quantity is unhealthy, both physically and financially.
Wednesday, March 25, 2009
Subscribe to:
Posts (Atom)
