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Forget Money Restraint; Doomsday Clock Moves Closer To Midnight.

Forget personal responsibility…forget paying off debt…forget saving for a rainy day…SPEND IT WHILE YOU GOT IT! The Doomsday Clock has moved 2 minutes closer to midnight; if you have money, go buy a plasma tv! Go on vacation! Buy yourself a Starbucks coffee this morning!

The Doomsday Clock: Nuclear threat to world ‘rising’

Just kidding. Well, not about the Doomsday Clock, that is for real. But as for spending all your money, until that hand moves to 1 minute before midnight, I think I will keep saving and trying to be frugal with my money. With the 10,000,000 stories this morning about the Doomsday Clock, one would think we were all about to die.

Which I don’t think is the case. Anyways, its an interesting story that every news outlet is hyping.

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Possibly one of the most important personal finance posts I read today.

Trent over at The Simple Dollar always seems to come up with some great posts. He is a posting machine! I enjoy reading his blog every day, and today was no exception. One of his posts today is “Evaluating Your Expenses – Life Insurance” which should be required reading, especially for anyone with a family.

Like it or not, insurance is a necessary must-have for living in today’s world. Car, renter’s, earthquake, flood, life, etc insurance are things that you have to have. Remember that bad things can happen to anyone and you should have some sort of a safety net; that is where life insurance comes in.

My wife’s father passed away 2 months ago suddenly leaving the rest of her family without a breadwinner. This was quite a shock as he was in perfect health one day and gone the next. Thanks to his advance planning, his now widowed wife and younger son have the money they will need to not only get through the next couple of tough months, but also to allow them to stay in the house, pay for the expenses, and keep everything else almost the same as it was when he was bringing home the paychecks.

Be sure to read Trent’s post about life insurance; you just don’t know when you will need it. He offers valuable information about how much insurance you should get at different ages and life stages along with what type of insurance is best. Go check it out at The Simple Dollar.

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Why I Don’t Spend Money On Bottled Water.

Looking for a way to save a few bucks? Give up the bottled water.

My wife and I used to only drink bottled water back in the day; we were afraid of the municipal water supply in our area of town. However, as we became more environmentally aware, we started looking at the facts surrounding bottled water. Adding that to the extra expense of buying gallons of bottled water a week is what changed our minds on tap water. And upon investigating, we found that our water was ok, so now we have a PUR water filter on our tap and get all the clean water we want for about $15 every 3 months (the cost of a new filter). Of course, those of you who pay for your own water at your house pay more, but it is still a lot less than what bottled water would cost you. According to the NRDC, 25 to 40 percent of all bottled water comes from the tap; why pay for a product that gets delivered free or nearly free of charge right into your house? And both Aquafina from the Pepsi-Cola Company and Dasani from The Coca-Cola Company are just both from municipal water systems. It seems silly, but most of the time that bottled water you buy is filtered just like you could do at home for much cheaper. Why pay the middle man?

Aside from the money aspects of bottled water, there is the impact that all those empty plastic bottles takes on our environment. The New American Dream Organization says that making all that “plastic for our bottled water releases over 4 pounds of carbon dioxide into the atmosphere per person and consumes a surprising amount of petroleum (.005 barrels, or nearly a quart of oil per person). With prices as high as $10 per gallon (factoring the high cost of smaller bottles), water can cost four times as much as gasoline.” So not only are using precious natural resources to clean and bottle the water, but then we use even more just to truck it around the country. Add this to the fact that only about 12 percent of plastic water bottles are recycled and it sounds like a scary environmental disaster taking place. What plastic bottles actually do make it to the landfill and not the recycler get burned, and dangerous gases are released into the atmosphere.

So if you are looking for a great way to both save some money and help the environment, lay off the bottled water. Get yourself a home filter and a portable reusable bottle to take with you to the gym or work and feel good that you are probably getting the same water you normally buy for just a fraction of the bottled cost.

I do realize there are some areas in this country and many more around the world that do NOT have safe drinking water. Before you switch back to your “bad” tap water, be sure to check the water reports for your area and make sure that the water has been deemed safe by your local officials. If your water contains nothing more sinister than what a faucet filter can remove, go for it and save some money.

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