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Did you ever stop to wonder what the most expensive building in the world was? If you have seen a base jumping James Bond, you don’t need to wonder about one of them. The Hong Kong Bank financial center is one of the most well photographed buildings in the world. It was one of the tallest buildings in the world, and the first outside the USA to top 1,000 feet.
Banks and Financial centers are not the only buildings getting in on the act: hotels, sporting arenas, and now even private residences are coming up with billion dollar price tags.
It is not surprising that the US should house several of these billion dollar projects. Sure the US is a finical giant, globally speaking, and companies don’t like to spare expense. What might be surprising is that three out of four of these most expensive buildings world-wide which have US soil under their foundations are located in the same city: none other than Sin City Las Vegas, Nevada.
In fact, the Wynn hotel, which opened in 2005, tops the list of the world’s most expensive building. Coming in just under three billion dollars, the whopping 2.99 billion dollar price tag is the largest in history to date, and it was privately funded to boot. Rounding out the glittering list of billion dollar buildings in Vegas are the Bellagio Hotel and Casino and Mandalay Bay.
If you hit or kick a ball, you want to do it in Yankee or Wembley Stadium. These cities love their teams so much that when it came time to coughing up money for new digs for their beloved sports teams, literally no expense was spared. Wembley Stadium cost over $1.6 billion in construction and Yankee Stadium came in at a manageably round $1.5 billion.
Currently under construction in Mumbai, India is the first ever private residence to get into the billion dollar mortgage business. The Antila family will be able to comfortably swing the multi-generational home, including a space for any bovine reincarnations of Uncle Joe that may come to stay occasionally.
When speaking in terms of billion dollar buildings, you can find just about anything you crave: tallest, private, most luxurious, or any other ‘most’ and ‘-est’ category you can think of.
To learn more about billion dollar buildings, click the graphic to the left. Does your favorite make the list?
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Popularity: 2% [?]
posted on Wednesday, August 3rd, 2011
by jenngerl
Posted in Featured Articles
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Pro football players may be some of the highest-paid athletes in the country, but having lots of cash does not equal having money sense. Even though a talented player might score as much as a few million dollars per season, it’s becoming more and more common for football players to declare bankruptcy. Why are so many in debt? Whether their financial situation is due to bad investments or supporting an entourage, there is an explanation behind every Chapter 7.
Double Foul: The Statistics of Bankruptcy
Let’s begin by looking at the statistics surrounding bankruptcy. First, the average career of a pro player is approximately three years. On average, a player makes a million dollars a year. That breaks down to an average play salary of $35,000 per game. 65% of players leave the game due to career-ending injuries, and 320 veteran players lose their jobs every year. Even though they make an average of $3 million over the course of their careers, after a scant two years after retirement, 78% of all football players declare bankruptcy.
Touchdown! A Roster of Bankrupt Players
Wondering just who some of the most famous bankrupt players are in the NFL? Following are a list of the top 8 bankrupt players and the reasons behind their financial woes:
Johnny Unitas – won one championship, and earned $4 million. Declared bankruptcy in 1991 due to a bad business decision.
Deuce McAllister – didn’t win any championships, but earned $70 million. Declared bankruptcy in 2010 on account of bad business.
Dermontti Dawson – didn’t win any championships, but earned $55 million. Declared bankruptcy in 2010 due to failed real estate ventures.
Michael Vick – didn’t win any championships, but earned $130 million. Declared bankruptcy in 2008 due to legal trouble.
Lawrence Taylor – didn’t win any championships, but earned $50 million. Declared bankruptcy in 1998 due to drug abuse and tax evasion.
Mark Brunell – didn’t win any championships but earned $13 million. Declared bankruptcy in 2008 due to a series of bad loans.
Travis Henry – didn’t win any championships, but earned $20 million. Declared bankruptcy back in 2009 because of a multitude of legal issues.
Charlie Batch – didn’t win any championships, but earned $13 million. Declared bankruptcy in 2010 on account of bad real estate ventures.
NFL Players vs. Joe Six Pack
So where does all the money go? To put it in perspective, it helps to take a look at how the lifestyles of NFL players stack up with the spending habits of the average Joe.
For example, the median home value of a NFL player is $800,000, which is eight times the median home value in America. As we discussed above, NFL players average a million dollar salary every year, while most Americans make closer to $50,000. When it comes to vacations, the average NFL player spends about $10,000 while most of America spends more like $500. NFL vacations can last a lot longer – as much as six months unpaid. Most people in America get two weeks paid vacation.
So, in summary, NFL players may make more, but they also spend more. Perhaps in addition to spring training, NFL players should take a few courses in money management as well!
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Popularity: 7% [?]
posted on Monday, July 25th, 2011
by jenngerl
Posted in Featured Articles
Counterfeiting is a major industry, with a network of about 600 billion dollars worth of fake stuff getting churned out every year. What’s more, it grows about 30% annually. Two thirds of all counterfeit goods come from China, and in 2008 there were over 4 million possibly counterfeit listings on eBay alone! Squeezing real goods out of the marketplace and adjusting (lowering) what people are willing to pay for them is another detrimental effect of counterfeit goods. They also cost the people making the genuine articles jobs. It’s estimated that US workers lost 750,000 jobs in one year due to counterfeiting. 100,000 of those jobs were in LA county alone, and 25,000 in Detroit. The false goods from one facility can fill up 16 miles of train cars.
Intellectual Property
When you come up with the idea for something, it’s said to be your “intellectual property.” When someone else illegally copies your idea, you can have the cops take it away from them. When this happens it’s called an “Intellectual Property Rights Seizure” (or IPR seizure for short). IPR seizures are growing at about 25% per year (which almost matched the 30% increase in growth that counterfeiting is showing as a whole). The median value for these seizures has grown steadily, representing a larger and larger percentage of overall trade (though that relationship dropped off sharply between 2008 and 2009 – but it is still growing). The three countries with the largest volume and value of IPRs are China (more than $200 million), Hong Kong (almost $27 million), and India, with only about 3 million.
A Brief History of Counterfeiting
While making fake goods and forging signatures and official seals is as old as commerce, a look at the past 100 or so years yields some pretty interesting statistics. As far back as 1889, people were already slapping fake labels on clothing to pass it off as being from a respectable manufacturer. According to William McEleroy Curtis, speaking at that time, “The superiority of American [cotton] goods is so great that the Manchester (UK) mills send few goods to South Africa that do not bear forged American trade-marks.” Skip forward to 1982 – the US Trade Commission estimates the US counterfeit economy at a value of almost 6 billion dollars. By ’84, the International Anti-Counterfeiting Coalition put the worldwide value of counterfeiting at almost 10 times that much! They estimate that counterfeiting costs the American workforce approximately 131 million jobs.
As you’ll see in the infographic, counterfeiting is prevalent among many industries, the most surprising of which being medicine and apparel. Checkout the infographic to see just how far counterfeiters will go to make your favorite brand into a knock off at half the cost for them, but the same price for you!
Popularity: 2% [?]
posted on Monday, July 11th, 2011
by jenngerl
Posted in Featured Articles
Credit card rewards are an integral part of the credit card landscape. However, not all credit card rewards programs are created equal. There are dozens of different iterations and each one has its own little quirks.
Here’s what you need to know in order to do well with credit card reward programs:
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Realize They All Have Limitations
The first thing to understand is that credit card rewards programs are all limited in one way or another. There is no one perfect card for everyone. You will never find, for example, a card which gives you 5% cash back on every purchase for the life of the card along with airline miles and lots of concierge perks with no annual fee (and if you do find such a card, run far away since it’s likely a scam).
However, it is possible to find cards which give you as much as 2-3% cash back on all purchases, though they may have annual fees attached to them. It’s also possible to find a card which offers airline miles and even double and triple miles at certain specified locations, though again, these cards will carry a fee and may lack some other features that you happen to want in your credit card rewards program.
Few No Fee Cards
In fact, there are very few no fee cards offering significant credit card reward programs. While it is possible that you could find such a card, they are relatively few and far between and generally reserved for those with the most impeccable credit scores. Therefore, when considering a rewards card, it’s important to calculate how much money you’ll save or earn from the rewards as compared with how much it will cost you to carry the card.
Remember to Check Interest Rates
Banks need to make money from somewhere when they issue credit cards and one of the primary ways they make money is from interest on your balance. This is especially true with cards that carry rewards programs since the company has to pay for the rewards program as well and as such, interest rates are often somewhat higher with rewards cards.
Consider Which Rewards Are Most Useful
For all that it may sound tempting to get those airline miles; however, if you’re not really into flying much, the airline rewards credit card may be a waste of money for you. Consider instead a card which offers you cash back.
Watch that Cash Back Program
However, even in the case of cash back, remember that the amount is either going to be fairly small (typically 1-2%) or it’s going to be limited in time or locations (some 5% cash back programs are offered only for a limited time or are limited to specific locations which pay to be members of the program). This makes sense considering that banks only earn around 2-3% on purchases you make. They can’t reasonably be expected to pay out more than they earn on your purchases after all.
Remember, Sometimes Plain Vanilla in Credit Cards is Better
Finally, don’t be afraid to forgo a credit card rewards program if the alternative is a better deal for your needs overall. If you can get a no fee credit card with low interest rates, that may be the best choice of all for your particular situation after all.
Popularity: 3% [?]
posted on Thursday, June 30th, 2011
by jenngerl
Posted in Featured Articles
Most call it one of the biggest financial crises in living memory. Others call it one great big Ponzi scheme. Whatever you want to call it, a bunch of people lost a bunch of money and the world of high finance may never be the same. But don’t worry – that doesn’t mean that we’ve fixed all these problems or punished the people responsible. It just means that next time you can’t get a loan or a higher credit limit, the banks will have an excuse.
Who Started It?

Our “most unwanted” list includes guys like Martin Feldstein. He was an economics professor at a little school called Harvard (maybe you’ve heard of it) and served as Ronald Reagan’s Chief Economic Advisor. He was a major architect in Reagan’s deregulation scheme (which is either the best thing ever in the world to some political views, or the worst thing in the world to others).
Alan Greenspan is also responsible, some believe. He was paid $40,000 to testify on behalf of extreme bank looter Charles Keating. Greenspan spoke of his “sound business plans” and “expertise.” Of course, these kind words didn’t come for free.
Robert Rubin was the Treasury Secretary and also a former CEO of Goldman Sachs. He teamed with Larry Summers to get Congress to pass the “Gramm-Leach-Bliley Act.” Whatever that did, he went and used it to make $126 million as Vice Chairman of CitiGroup.
Last up is Larry Summers, who also served as Treasury Secretary. Another Harvard economics professor (not looking good for that place). He was another key player in deregulation and also helped create derivatives, the trading of which was a major contributing factor to the financial collapse.
Companies and Their (Illegal) Activities
With all the time giant financial corporations spend doing shady and downright illegal things, it’s a wonder that they have any time left to do…whatever it is that they are actually supposed to do. Let’s take a look at some notable post-deregulation antics of those wacky corporations:
JP Morgan: Bribed government officials
Riggs: Laundered money for Chilean dictator Augusto Pinochet (a military leader – for those who don’t know – who led a coup in Chile and was said to have brutally crushed, killed, and interred all who opposed his illegal regime)
Credit Suisse: Laundered money for Iran in violation of US sanctions
Freddie Mac: Accounting fraud
Fannie Mae: Accounting fraud (which, in this case, means overstating their earnings by 10 billion over ten years, which is NOT the same as slightly exaggerating your salary to impress someone at the bar)
UBS: Fraud
ENRON: Fraud – Citibank, JP Morgan, and Merrill Lynch tried to help conceal the fraud
Of course, this is just the beginning. Review the infographic to see how, exactly, the economic crisis of 2008 occurred and you be the judge: who’s to blame? Are we out of the dark yet? And are we making the right choices now?
Popularity: 12% [?]
posted on Tuesday, June 28th, 2011
by jenngerl
Posted in Featured Articles
Move over Paul Ryan and Barney Franks; here come the blue and red family trees. If you are a fan of cable news, you know the differences between Democrats and Republicans. Just flip between MSNBC and Fox and you’ll think you’re on two different planets. Well, guess what…what happens today was happening way back in the 1790s. It’s really interesting: party names changed through time, but beliefs held have remained pretty consistent through the years. Looking at the Presidents on the time line is like a flashback through history.
(check it out on the graphic).

Not So Different than Today
Old-time Dems were called Anti-Federalists and were headed up by Alexander Hamilton. They believed in a strong centralized government. The Republicans, led by Thomas Jefferson and James Madison, believed in modest government control and strong farmer rights (like the private sector today).
In 1828, the Democratic Republican Party was formed and led by Andrew Jackson. More political changes occurred in 1830, when the National Republican Party was formed by those old ex-Feds. Today’s politics have nothing on the 1800s. Take a look at the outside borders in red and seejust how many changes and party leaders morphed through the years.
During the 1860s, the big debate of the day was slavery and the nation was divided (and you know what came next). Check out the infographic for a brush up on the President who abolished slavery.
Sound Familiar?
Check this out: Back in 1865, the Republican Party split into three factions: The Conservatives, the Radicals, and the Moderates. Now, flash forward to the 1890s and you’ll notice how politics back then mirror today’s politics. The Democratic Party was made up mostly of poor Catholic immigrant workers. The Republican Party was made up of Northern Protestants who wanted to restrict immigration and supported the temperance movement. Does that sound like today’s news? Look at the middle column and see for yourself!
Blue vs. Red Beliefs
Dems and Republicans hold a different view on some (but not all) social issues. The death penalty is supported by 82% of Republicans and 63% of Democrats, both parties share similar viewpoints about the cloning of animals (28% and 31%), and both parties widely oppose polygamy, cloning humans, or married people having affairs. Both parties show similar support for gambling, but huge differences of opinions come into play with gay marriage. Click on the middle column and scroll down to read all the fascinating stats.
More Poll Differences (No Surprise!)
Okay, these won’t come as a surprise, but it’s fun-fact stuff. Test your knowledge of blue vs. red beliefs on these questions: When polled if we’ve gone too far in pushing equal rights, which party showed that 55% of their supporters said yes? Try this one: When asked, “is the best way to ensure peace through military support?”, what did each say? You got it; the Republicans agreed at 69% while Democrats came in at 44%. No wonder Congress argues over defense spending!
Debt by President
We get conflicting reports on these topics depending on the cable news we watch, but truth is the president that had the biggest financial mess was during World War II. Take a look at the middle column down towards the bottom, and you’ll see all the stats on what the state of debt was when each president took office and what it was when they left office. Dwight Eisenhower did a pretty good job and so did Kennedy and Johnson. Both Regan and Bush had more ending debt than they started office with. Check out the info graphic and see how unemployment stats stack up with each president; it’s interesting.
So Who Had Highest Approval Ratings?
In the history of presidents, which President of the United States had the highest approval ratings? Drum roll please…John Kennedy at 70.1%, followed by Dwight Eisenhower at 65%. Of the Bush presidents, which one held higher approval ratings? Yep, Dad Bush ranked higher at 60.9% versus 49.4%. Click on the middle section and check out where Ronald Regan was rated. Have some fun with it!
Popularity: 2% [?]
posted on Monday, June 13th, 2011
by jenngerl
Posted in Featured Articles
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Have you become a victim of identity theft or identity fraud? If so, you are not alone; nearly 1 in 10 Americans have felt the stab of identity victimization. Even if you are fortunate enough to have escaped the first-hand knowledge of the consequences of having your bank accounts ripped off and your social security number compromised, you should still be concerned.
Identity theft and fraud is big business both at home and abroad. If it was to be compared to legitimate business enterprises, you would rank it right up there with Microsoft and Amazon. Identity theft is responsible for the ill-gotten transfer of monies from big corporations to the hands of small and big time crooks in the amount of $31 billion annually, and that’s just fraud scams that affect US companies. If international business losses are taken into account as well, the number jumps up to over $221 billion dollars.
If you dismiss these huge numbers, as many consumers are apt to do, you could be setting yourself up for a huge mess. It is a very common mindset to waive aside catastrophic business losses because business is business and it doesn’t really affect individuals. Consider this: businesses pass their losses directly on to the consumer. This drives up the cost of everything from microchips to potato chips, and you are personally footing the bill.
Beyond inflating the costs of goods and services, identity theft has the potential to become a very personal crime as well. It is estimated that about 10% of the US population has had their personal identity raided with an average loss of $1,620. Not many households could easily afford to lose over $1,500 and not feel the sting!
Believe it or not, the actual loss of money is not the biggest problem caused by identity theft. That raided account, maxed out credit card, or abused social security number leaves a trail burrowing deep into your credit history negatively impacting your credit score (identity theft criminals are not known for paying their fraudulent bills in a timely manner which leaves you holding the bag you probably don’t even know about). One of the most common ways identity theft is discovered is the denial of new credit applications. This means your credit score has already taken a dive before you ever even know it was in jeopardy.
Prevention is, of course, the best defense against ID theft, unless you like the idea of spending the next 330 hours changing banks and closing credit card accounts then arguing with creditors, and Transunion in an effort to get your money and credit scores restored. To prevent ID theft, you need to employ three easy, but powerful tools.
First, be safe online. Only a very small percent of ID theft scams (11%) originate from an online source, but thieves can access bank or other credit account information as well as personal information from an unprotected computer. Getting an anti-virus program installed, keeping it current, and performing regular scans will block attempts to steal information from your PC.
Second, protect your mail! Get a lock on your mailbox and pick up your mail daily. 43% of all ID fraud starts from unwanted eyes getting a lock on your paperwork. To be extra safe, you need to shred mail, including junk mail credit card offers, as well as account statements and any other paperwork before discarding it.
Third, keep your wallet guarded. A stolen wallet is a big deal because of all the hours it takes to replace the important papers within. Avoiding the trip to the DMV to replace your driver’s license alone is worth any extra effort on your part to protect your wallet. Don’t carry anything extra in your wallet either; leave credit cards at home as often as possible and never carry your social security card with you.
For more information about identity theft, protection, prevention, and recovery, click the graphic above.
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Popularity: 2% [?]
posted on Wednesday, June 8th, 2011
by Credit Loan
Posted in Featured Articles
The March 2011 nuclear disaster at Fukushima, Japan, has overtaken Chernobyl and 3 Mile Island in its severity, according to The Nuclear Policy Program.
Spokesperson James Acton said, “Fukusihima is the most complicated and dramatic nuclear accident ever.”
It topped the International Nuclear Events Scale, scoring a record-breaking “7″ out of 7 for “serious accident.”
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Tremors from the devastating 9.0 earthquake off the coast of Japan were felt for hundreds of miles, and millions were affected by the subsequent tsunami that caused the shutdown of the Fukushima Daiichi Nuclear Power Plant. But the most lingering effects of the quake are invisible to the naked eye; high doses of radiation permeate the nuclear site, with a radius extending up to 70 KM.
Nuclear accidents take decades to clean up, mainly due to lethal radiation levels preventing workers from entering damaged areas. Chernobyl melted down in 1986, and cleanup is still incomplete. Fukushima disaster relief and cleanup efforts are moving quickly, but the complicated nature of the accident ensures that total restitution will be slow. And with over 250 tons of radioactive water leaked and cancerous levels of radioactive particles already released into the population, the long-term effects will reach far beyond the nuclear factory itself.
In the next 10 years, 120,894 Fukushima disaster-related cancer diagnoses are estimated. How long will the effects of Fukushima last? For thousands of radiation-exposed Japanese citizens, the answer is, “the rest of our lives.”
Popularity: 2% [?]
posted on Thursday, June 2nd, 2011
by jenngerl
Posted in Featured Articles
It’s one thing to read about SEO, that is to say “Search Engine Optimization.” It’s quite another thing, however, to actually understand the practical theory behind how the whole thing works. While we can throw terms at you such as SEO, SEM, SMO and the whole alphabet soup along with a massive amount of history, most of us have trouble grasping how it all works. So, in order to understand it, let’s go back to high school.
It’s Just like High School
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So what does high school have to do with SEO? In essence, SEO is exactly the same thing as high school and the popularity contest that goes on there. SEO is, in essence, a popularity contest where Google is the head cheerleader and all the boys want to go out with her. Here’s how it works in practical terms:
How You Dress and How You Look
How you dressed in high school mattered a great deal in deciding how popular you were. If you dressed like a geek, then you weren’t exactly considered to be the most popular person in school. However, if you dressed in cool clothes and took the time to keep in shape, then you were more likely to be popular in high school.
How You Dress Your Website
One aspect of SEO, known as “on page SEO,” is pretty much the same thing. Basically, it’s a matter of how you set up your website – if you include useful keywords on the page (the equivalent of wearing cool clothes), then Google is more likely to notice you because you have something they want.
Keeping Your Website in Shape
Similarly, just like keeping yourself in shape, keeping your website lean so that it loads quickly is also likely to grab the attention of Google because Google likes to see sites that load quickly and are well organized.
In essence, if you think of these two aspects of SEO as being equivalent to the two aspects of being popular in high school, then you will have created a website that Google wants to see. However, just like in high school, doing things to yourself only got you so far. You also need to become popular with others so that the head cheerleader (aka Google) will be interested in you.
Being Friends with Popular Kids (and Websites)
The second aspect of SEO is what is commonly known as “off page SEO.” This basically means creating a presence outside of your website where other popular websites link back to your website. Let’s go back to our high school analogy again to understand this:
In high school, if you wanted to become popular, the surest way to do so was to become friends with the popular kids. If the captain of the football team was good friends with you, then you were more likely to be considered popular by association. If you were friends with the entire team, then that made you even more popular in high school.
Similarly, with off page SEO, getting popular websites to link back to your website is like having those popular friends be seen hanging out with you in school. The more popular the sites are that link to you, the more likely you are to be noticed by Google and to move to the top of the Google search results page.
Link Building and High School
Again using our high school analogy, if you wanted to get the popular kids to notice you, you could became popular with everyone in school (which would be the equivalent of building thousands of links all over the web in the hopes of getting yourself noticed).
Or, you would try a shortcut by finding a way to get one or two of the most popular kids to be friends with you. That’s what off page SEO is all about – you try to get links back to your site from the more popular sites and that leap frogs you over the competition who have to work harder by building lots of links with everyone else.
Bottom Line
Okay, so SEO is not exactly like going back to high school. You don’t have to sit in class all day long and pass notes that the teacher doesn’t see. However, it is enough like the popularity contest that we all experienced in high school that it should be pretty easy to follow how it works by thinking about it in those terms.
Popularity: 1% [?]
posted on Tuesday, May 31st, 2011
by jenngerl
Posted in Featured Articles
Gasoline prices have been steadily rising for months and in spite of the recent slight downturn
in the numbers, it does seem like they’re poised to continue going up for the foreseeable future.
In fact, most Americans say that they believe that prices will continue to rise and many say that
the cost of gasoline is actually the number one concern for the American economy.
Warning: The following illustration is quite sobering when we actually put it in perspective…
(Click To See The Larger Size)

Gas prices fell slightly after the death of Bin Laden but then jumped the next day;
According to one economist, 410,000 jobs are lost with every 41 cent increase in the price of gas;
11% of all paychecks go to pay for gasoline;
The United States uses around nine million barrels of oil each and every day;
Prices of commodities, such as wheat, corn and soybeans have skyrocketed recently.
More People Looking for Alternatives
All these problems of high gasoline prices have meant that more people than ever are scrambling to find alternatives to gas guzzling combustion automobiles. Some have turned to hybrids; others have turned to all electric cars. In all cases, however, sales of small cars are going up on a regular basis.
The Market for Alternative Cars
The following numbers really do tell the story of what’s been going on with the car market the past few years:
Hyundai Sonata and Elantra sales are up 55%;
Chevy Suburban SUV sales are down 24%;
78% of Americans are willing to consider an electric car if gas goes over $5 per gallon;
Hybrids save as much as $5,500 per year for their owners and reduce greenhouse gas emissions by as much as 30-50%;
As of 2009, E85 car sales have gone up to over 8 million units sold;
Google has invested $20 million in Transphorm, a company which makes electric cars more efficient.
Bottom Line
The bottom line is that Americans are opting in increasing numbers for other options, ones which will allow them to save money and avoid the extreme costs of high gas prices.
What You Can Do
So what can you do about high oil prices if you don’t want to buy yourself a new car? There are a number of other options that you can try which can help you to save money:
Switch to alternative ways to heat your home – for example, you could use natural gas instead of oil;
Grow your own food products;
Learn to can your own food products;
Make less shopping trips and buy food in bulk;
Start using public transportation, your bike, and even your feet to get around. Not only is it healthy, but you’ll also save yourself money on the cost of paying for gasoline.
Popularity: 3% [?]
posted on Thursday, May 19th, 2011
by 3rc
Posted in Featured Articles