Previous Post: Monthly Net Worth Checkpoint: March 2009
ETRADE and iPhone Updates
This must be the week for updates. Previously, I discussed our experiences so far with our attempt at once-a-month shopping and cooking and then gave our monthly net worth update. In this post, I’ll take a few minutes to update how everything has been going so far (including updates on my stock picking and iPhone shopping as well).
I finally bought some stocks through ETRADE
I previously disclosed my intention to purchase a pair of stocks through ETRADE . ETRADE finally allowed me to purchase the stocks I wanted last week. It actually worked out well for me as both stocks I purchased cost me a bit less than they would have when I first opened the account. Again, this is not part of my long-term investing strategy as I am just using a little bit of money to speculate with these two stocks that are priced drastically lower than they were last year. I would not be thrilled about it, but it would not cause us undue financial harm if we lost all the money we invested in these stocks (and if you’re not comfortable with that prospect in this economy, I would suggest you not buy individual stocks right now).
At the same time, this is a long-term play on my part. I’m not looking to sell them anytime soon. In fact, yesterday one of the stocks I purchased was up almost 40%. I am not interested in a 40% gain on the small amount of money I invested. I’m going to sit on them and hopefully they will return to their previous values (or close to it) which would be a 4000% gain. Whether that takes 1 year, 3 years, or 10 years (or infinity), I’m not sure. I am sure that I will just hold these stocks long-term and periodically check to see where they are trading.
Even after waiting an entire week, I still bought an iPhone
I put the Dave Ramsey advice of waiting overnight before making a purchase to the test last week. In fact, I stretched it out all the way to a week. If you remember, two weeks ago I detailed the steps that took me from being satisfied with my current mp3 player all the way to considering an iPhone . Well, I waited an entire week and then ended up buying an iPhone anyway! I’m actually just trying one out right now. I’m taking advantage of the 30 day return policy to see how well it works, how much I like it, and what the cell coverage is in the areas I use it most often.
At this point, I do not see myself giving back the iPhone! This is the first time I’ve had a cell phone that wasn’t one of the free ones you get for signing up. I am really wowed by this thing – the phenomenal interface, the array of useful features, and all the apps (I’ve even started tweeting from my iPhone) (yeah, I’m thinking this evaluation will end a lot sooner than 30 days!).
So, waiting didn’t actually save me any money as I still opted for an expensive option but at least I can say it wasn’t an impulse buy!
If you have any recommendations for iPhone apps, please let me know!
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nice post, thanks for sharing