Author Archives: Money Reasons

About Money Reasons

A offbeat personal finance blogger that comes from the tech world.

Buying My Son His First Cell Phone

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I’ve had mixed feeling about buying my son (who is 11-years-old) a cell phone.

As someone who works with technology, I want him to have exposure to the technology at a young age so he has a certain comfort level with such devices.  I also want him to be able to hack his way through problem and basically just have experience with technology now instead of when he’s an adult.

The Purchase

No, I didn’t buy him a iPhone (although that would have been the ultimate), I can’t afford such a phone for myself, let alone my son!

Instead, we went with a Samsung Seek cell phone with featured a “no contract” $19.99 service plan offered by Kajeet:

Samsung Seek

The Kajeet $19.99 plan includes 150 anytime minutes (pathetic huh…), but also unlimited texting!

Initially I balked at the 150 anytime minutes, but my son convinced me that he wouldn’t be using the phone except for when we called him anyway.  Surprisingly, he just wanted to text.

I was dubious that he would use the text feature (I’ve never seen him text before), but once the phone arrived, he was texting like a pro.  I couldn’t believe how quickly he adapted to this new form of communication!  In fact, I don’t think he’s used what I consider the cell phone part of the phone yet.

A cell phone is more than just a cell phone to a kid!  It’s a status symbol for those that have a phone and communicate with one another, and those that don’t have a cell phone and can’t play in the modern tech playground.  While he did a good job resisting at first to the temptations (he’s a great kid), all of his friends kept asking when he was going to get one.  Finally, he broke down and asked me.  I’m not the heavy when it comes to technology or science gifts in the family so I said I was okay with it.  He’s getting smarter!  Had he went to his mom first, she would have said “no”, and that would have been the end of the story.

Special Conditions With The Phone

I’m always looking for a chance to bring finances into the picture.  So while I bought the phone for $150, I made a deal with my son.  I told him that while I’d cover the cost of the phone, he would have to pay half of the cost of the $20 monthly service plan.  While $10 isn’t a lot, when you only get about $44 a month, it’s almost a quarter of the money that you get each month!

He got a small pained look in his face when I told him that, but he still wanted to go ahead with it anyway.  I was proud that he made such a quick and absolute decision.  If it were me making the decision, it would probably had taken me at least a week to mull it over.

So if you have a young child, consider going with the Kajeet option if they primarily want it for texting.

Oh, one more perk is that it comes with a GPS built-in.  This way if we decided we want to track him for whatever reason, we can do so.  Of course we won’t, but at least it’s an option.  Note that with the $19.99 plan, each use of the GPS capabilities is an extra fee per use.  Had we going with the next higher service plan (at $27.00), the GPS tracking would have been included in the higher price.

If you have the money, I would recommend buying your child a cell phone, if they start asking for one.  So far, for us it has been a very positive experience.

Best,

MR

Going To 3D Movies Are Worth It, Sometimes

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Last year, I discovered that I enjoy going to see some of the recent movies, especially the relatively new 3D movies.

 

Initially I resisted going to see the newer style of 3D movies since in the past when I went to 3D movies they always gave me a headache both during and after the movie was over.  With the new 3D style of glasses though, it’s different!  The visual effects are much more real and for once I actually enjoy watching 3D movies.  While my eyes are tired (that’s the best way that I can describe it) after the 3D movies end, I don’t have the piercing headaches like I did in the past.

The costs of going to see a 3D movie (with your significant other) can run you over $40.  However, it’s worth it if you keep your visits out at the movie theater to only a few times a year.

Today, I’m going to reveal the process that I follow to pick a movie to see for the best bang for my buck.

My Steps to Pick a Night Out At The Movies

  1. First the movie has to be a movie that either my spouse or the entire family would find interesting (although, I do occasionally go with my friends to have a guy’s night out, especially when it’s a testosterone packed movie)
  2. I always consult the most excellent website called “Internet Movie Database” at www.imdb.com.  What’s special about this site is the fact that regular people like you and I go and rate the movie.  So as you can imagine, I only go see a movie after it’s been out a few week.  That way the ratings at www.imdb.com is a decent average of all of those who saw the movie and left a review.  If the movie isn’t rated at least a 7, we don’t go to see it in the movie theaters.
  3.  I prefer to go to late in the day matinée movies.  This enables me to get out of the movie theater when it’s starting to get dark.  Then we go to a nice dinner to cap off the evening.
  4. If possible, I try to see movies during the weekdays during matinée times.  This doesn’t happen often, but we do find that movie theaters are less crowded, and especially when going out to dinner afterwards.  I hate to wait in lines for dinner, generally it’s a waster of time.
  5. Generally, we like to go to the movies during the winter seasons.  The summer seasons are too full of kid’s sports activities and enjoying the great weather.
  6. We have been known to sneak food into the theater occasionally.  Keep it a secret though, I don’t want people to think I’m cheap… or do I?  We do this about 50% of the time.
  7. If the kids aren’t going, we usually schedule the trip to the movie theater while the kids are on a sleep over at the grandparent’s or a friend’s house.
  8. And finally, sometime we wait a few months for the movie to come out at our local dollar theater or drive-in.  This is truly the best bang for the buck.

And there you have it!

Cheers,

MR

Our Halloween Tradition Watching The Nightmare Before Christmas

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We have a small tradition in my family where around every Halloween, we watch the movie called “The Nightmare Before Christmas“.

The Nightmare Before Christmas

It’s a great tradition where we start the fire (for the first time of the fall season), and then get some of the normal snacks (popcorn, pop, etc).  Next we pop in our five year old DVD and sit back and enjoy the movie.  It’s a fun time for the entire family and we look forwards to it each year.

The movie is full of great still motion effects and catchy tunes, but honestly, I’ve never really thought about any message from the movie other than the basic storyline.

This year I realized the similarities between business expansion , taking risk, failing, and the rewards of trying.

You see the main character “Jack the Pumpkin King” pretty much had a monopoly over the entire Halloween holiday.  The storyline makes you believe that he’s the drive for the scaring part of Halloween.  In the movie Jack allude to how successful they were at their efforts for Halloween during the current year, the beginning of the movie.

Where it get interesting is that even when the Pumpkin King is at the top of his game, he decided it’s not enough.  That’s when he stumbles upon Christmas Town.  He tried to take over the tradition, having Santa Claus abducted under the guise of giving Santa a holiday then he has a go at delivering Christmas presents.

Well, even after a log bout of research and development, when he goes to deliver the presents, he uses the techniques that worked with Halloween Town instead.  The results are disastrous!

As he reviews his experiences, he was initially upset on the failure that happened.  But eventually, he realizes that he tried is best and at least he gave the folks in Christmas town something to talk about for years to come.  He basically licks his wounds and realized it was worth it to give it a try.  He then goes back this Halloween and frees Santa Claus.  Mr. Claus was upset at first, but at the end, give Jack and the characters in Halloween town a special present that they all seem to enjoy.

There is also a sub-theme where Sally (and stitched together doll?) supports him and tried to talk some sense into Jack.  It ends in as a love story…

It’s a great movie, with some great messages if you look for them.

Happy Halloween Traditions,

MR.

Reader Thoughts – Response to Sacrifices Made On the Road To Become A Millionaire

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Today at Money Reasons, I’m introducing a feature called “Reader Thoughts“.

Within this new feature, I’m going to post emails and other forms of communication that I received or gather that explains a personal take or actual personal experience on a topic that I consider worth taking a look at, to gain insight into their thoughts and experiences.

Today, I’m going to post an email I received from “S”:

Money Reasons writer – your post on wealth and sacrifices really hit it home for me today.  My response may offend some of your readers but those are my genuine feelings, you asked to hear stories.  I am not sure what you consider wealthy – but I have been in the top tax bracket for the last few years.

I was nearing this bracket as an employed professional but I entered this bracket as an entrepreneur involved in several ventures, many that turned in losses which I talk about on my blog.  Entrepreneurship involves lots of sacrifice in many aspects of ones life, social, relationships family/friends, personal interests and hobbies taking a back seat, etc. 

 

I persevered through all over the years, starting profitable businesses that pay tax. so not only do I contribute the max amount from a tax perspective, most of my businesses do the same.  I own a brick and mortar business in my community through which I have employed local citizens. the business is heavily involved in the community, often sponsoring soup kitchens, charity galas, and fund raising initiatives.

 

I also own several rental properties, all of which provide quality housing to residents in need, many of who would be considered sub prime by other lending institutions. to sum it up, the road to self created wealth involves way more than what one who hasn’t traveled the road may think. moreover, each journey is very different / unique. personally, only I know the amount of sacrifices I have made over the years. sure I am reaping huge dividends today, but I am also contributing to the larger society / community in parallel.

 

“S” provides a  story that epitomizes the exact point I was trying to make with my post called:  Sacrifices Made On the Road To Become A Millionaire.
“S” points out that he has made sacrifices on this path to becoming wealthy, the path to his success also includes taking risks and encountering some failures along the way.

The common perception of “S” is that he must be taking advantage of everybody, we learn from his email that the opposite is taking place, in that he provides housing for those that have poor credit, contributes to his community, does charity work, and most importantly hires employees, giving them a job and a way to earn a living!

 

Unlike the typical inaccurate representation of the rich where everybody thinks they are crooks or like Scrooge, people like “S” should be applauded and appreciated for the great ways they are benefiting the world!

 

Thanks “S”, for providing your personal story and hopefully bringing a better understanding of the sacrifices and hurdles that you’ve had to overcome on your road to success.

 

Big Kudos to “S” for writing such a great response,

 

MR