This is for all the people who need a reason not to go shopping on Black Friday!

Top Five Reasons to Shop Online

1.    Avoid the crowds, avoid the lines, and avoid the hassle. Shopping online is easy. You don’t have to fight for what you want, you don’t have to rush, and you don’t have to wait behind people counting out pennies in front of you. Plus, it’s easy to find what you want. Shopping online? The search function is your new best friend.

2.    You don’t have to risk a hernia carrying heavy items. They come straight to your house. I live in the city and I often have to park pretty far from my house. I don’t feel comfortable leaving pretty packages in my car so I’m often seen hiking down the street overloaded with packages. So avoid the back pain, shop online.

3.    Save money. It’s easy to compare prices online. With a few keystrokes you can move between stores, finding the best deals on hard to find gifts.

4.    Easier to resist temptation. How many times have you been walking through a store and grabbed things that you didn’t even know you needed? From candy bars to paperbacks to that really cool candle holder, shopping online cuts down on the browsing and therefore cuts down on the temptations. Plus, you don’t have pesky sales people bothering you. Everything you need to know about the product is right there, easy to find and easy to read.

5.    It’s easy to get creative. Does your little sister have a thing for exotic countries? Order something straight from Nepal. It’s much easier to find hard to find objects online. You have the whole world at your fingertips.

The market is down, unemployment is up, and most consumers are pessimistic. In times like this, many people turn to their credit cards for help. While sometimes you may not have a choice, using credit cards will just increase your debt levels if you don’t pay off your balance each month.

What do you do when you can’t, or just won’t, pay off your balance? If you find yourself in a situation with looming finance charges and no way out, you can look into transferring all, or at least some, of your balance to another card.

But, before you decide to transfer your balance from one card to another, you should go through a little checklist of some things “to do” and some things “to think about.” If you decide that a balance transfer is the answer then your next step is to find a credit card that’s right for you.

Does your current card have a high interest rate?
The higher the interest rate on a card, the worse off you’ll be if you don’t pay it. Duh! If this is the case then a balance transfer may be your friend. However, there may be other reasons why you should or should not transfer a balance. Here a few to consider:

More credit, friend or foe?
More credit is good for your credit score.  It’s good for emergencies too. However, without discipline, it could be just another hole for you to find yourself in. That additional card is for a balance transfer only! When you get the new card in the mail (with the transferred balance) put that card in a drawer and forget you have it.

New cards might bring new fees
Many balance transfer credit cards have a grace period—sometimes as long as six months. However, others will force you to pay a minimum of $50 or $75 during the initial “grace period.” Make sure you read the fine print to avoid an unpleasant surprise.

Balance transfers can be great if you are careful and pay attention to the grace period, interest rates, and fees. It’s a strategy I have employed in the past and it works. When you are able to pay off the balance, you should do so right away. Balance transfers are not a “get out of jail free” card. You still owe the money, so pay it off, and when you do, decide if you want to keep that line of credit open. If not, call and close the account.

You can find balance transfer cards here: http://www.youngmoney.com/CreditNet/SearchResults

Ben Levy

Amazon.com has started a countdown to Black Friday. While they don’t have any specific Black Friday deals up now, they are offering Gold Box deals everyday.

http://www.amazon.com/gp/goldbox/ref=cs_top_nav_gb27

In Amazon’s Gold Box you can find the Deal of the Day and Lightening Deals.

Lightning Deals are only offered for certain time windows. Once a Lightning Deal starts, you will be able to see the item, its current Amazon price, the amount of the Lightning Deal coupon, a progress bar that indicates how many coupons have been used, and a timer showing how much time is left. Only one coupon is available per Lightning Deal per customer. After you’ve added the item to your cart, the Lightning Deal will be marked “Claimed.” The coupon is only valid that day, so be sure to complete the checkout process. The coupon savings will display on the final order confirmation page under “Order Summary.”

Disney

Disney announced that they will begin Black Friday at midnight in 100 of their stores. All other stores open at 5 a.m. on Black Friday.

All Disney stores will offer an additional 20% off* almost everything, in addition to their already low one-day only pricing, from opening hours untl 10 a.m. So if you need some Hannah Montana or High School Musical paraphernalia, get there early.

*The extra 20% excludes Media, electronics, gift cards, theme park passports, Disney Dollars and shipping charges.

This is part one of a multi-part series where I provide tips, advice, and opinions on starting and operating a technology related business. You can read about me and my background in my bio.

So, you think you want to stop “working for the man” and start working for yourself. There are many benefits to being self employed, but it isn’t necessarily everything you think it will be. In fact, it is likely much more. Take it from me, I have been running my own business and surviving for five years.

Running a business and being your own boss can be one of the most rewarding things you can do in your life. It can also be one of the most difficult endeavors you can undertake.

Everyone likes to imagine the freedom of working your own hours, arriving to work in shorts, and collecting huge pay checks. Not everyone considers the more likely reality of working endless hours, having to dress to impress, and struggling to pay bills and expenses. After all, the statistic is something like eight out of ten businesses fail in the first year.

Scary talk aside, you still want to try. Well, before you go and tell your boss what you really think of his management abilities, here are a few things you need to consider.

How long can you survive without making any money?
If you haven’t already figured out where your first check is coming from, then stop! Unless you are independently wealthy or want to work for free, you need a real source of income. If you have existing clients or a guaranteed client and are not bound by a non-compete agreement, then you are in good shape. If however, you are starting from scratch, you need to assume you will not make a penny for a couple of months at the least. It will take time to setup your business, pitch to potential clients, and submit and invoice for that first check. If your business is service based, keep in mind not everyone is willing to pay anything up front. I suggest making sure you have enough to float your business for at least four months.

How much do you need to start your business?
Everyone wants to buy new office furniture, equipment, clothes, and all sorts of other unnecessary stuff to make them feel like they are in business, but the truth is you don’t need any of it. Remember, first and foremost you need to survive. Focus on the essentials. Legal fees for starting your business will be at least $200 and can be much higher depending on the complexity of your product or service.

Do you really need an office to start? Can you work out of your home or share space with anyone else? A lease will bind you for at least a year and even if you were to find something for $500/month. That is $6,000 you are obligated to pay in the first year, plus a security deposit.

Start with just the essentials.

How much money does your business need to run each month?
Before we talk about projections and business plans, I just want to say you should consider what you need to live each month. This should include your personal and business expenses. They will initially be paid from the same source. Remember, you wont be getting a paycheck every other Friday anymore.

Do a personal budget and figure out the bare minimum you need to survive. I am talking rent/mortgage, car payment/insurance, gas, food, utilities, and a wee amount of play money. No vacation trips to Miami beach for a while.

How much are you willing to work?
It isn’t going to be 9-5 anymore. You don’t have a team of co-workers to share the load. You don’t have subordinates to delegate to. It’s likely just going to be you. Anything and everything that needs to be done will need to be done or initiated by you. Customers are less tolerant of deadlines being pushed back then your old boss was. Think of it this way, when you are waiting for your car to be fixed and they say “another few hours,” how happy are you?

You may start your day at 10am, but most likely you will be ending it at 10pm. Be prepared to work all the time.

So, you still want it? You still ready to take the plunge?

Good! It is the experience of a lifetime and you won’t regret it.

Check back next Tuesday for Part Two which will focus on roughing out an initial spreadsheet to figure out how much money you can make and how high your expenses will be.

John Glorioso

The holiday shopping season is almost officially about to begin. Yes, I’m talking about Black Friday. While the mall may be frightening to many of us on a good day, Black Friday can be downright terrifying! And this year it’s not just the crowds and crazy mom’s looking for the last Tickle Me Elmo doll, it’s the fact that the jobless rate is high and our economy is still suffering.

This winter, many of us don’t have extra money to spend on extravagant holiday shopping. That’s why we have compiled a list of sites to help you figure out where you can cut corners. Knowing where the sales are can also help you plan your Black Friday shopping outing—know where the best prices are before you leave the house, and know where to head first when you hit the stores.

So, with a little legwork and a little luck, you should be able to navigate the treacherous waters of your local mall and save some loot in the process!

TGI Black Friday
http://tgiblackfriday.com/
This site the top Black Friday deals. Macy’s, Dell, Staples, Radio Shack, Bath & Body Works, Walgreen’s and many, many more. Go here before you go there.

Deal Catcher
http://www.dealcatcher.com/
This site has the newest coupons, rebates, printable coupons, and even let’s you compare prices. With free online coupon codes for Dell, Amazon, Best Buy and Overstock.

Black Friday Ads
http://bfads.net/
Dedicated to, well, black Friday ads, this site posts all the ads in one place. Check back regularly for Black Friday 2008 daily updates.

Deal Taker
http://www.dealtaker.com/blackfriday.html
If you haven’t found the coupons you’re looking for yet, try this one. They bill themselves as “your official black Friday portal” and judging from their list of stores, ads, and deals, they might not be far off.

Free Shipping
http://www.freeshipping.org/
If you’re planning on doing all of your Black Friday shopping online, Free Shipping can help you save on shipping costs. This site offers hundreds of free shipping codes organized by store. When you go to checkout online, simply enter your code and start saving!

Cara Newman

Editor Cara Newman is following the advice and tips of various articles posted on Young Money to show how well they really work. These first posts follow the techniques presented in Save $1000 by Black Friday. Follow along to see how much she saves, and what impact it has on her life.

I was sick a lot of this week and didn’t do much. By not doing much, I ended up saving a lot!

Collected change from my pockets: $6.43

Food: $30 in lunches, and I didn’t go out to dinner once, saving $40 in dinners (assuming I spend $20 twice a week)

Bank Fees: I didn’t use any out of network ATMS saving $10

Doctor: I got sick this weekend but I combined two appointments into one, saving $30 in copays.

I didn’t spend any money on entertainment this week, leaving me with a $50 savings.

I think the biggest change for me has been using cash. It makes me realize exactly how much I’m spending, and I don’t spend any money on hidden fees and I’m not building up any debt. I have been doing this for almost two months and I’m amazed at the amount of money I’ve saved. I’m even more amazed how easy it’s been. If you just cut back a little back, you’ll find your savings account growing too!

Savings this week: $166.43

Total savings: $911.90

Impact: I haven’t felt any really sacrifice, but I’m almost there!

In many ways your first stock investment is like your first kiss: not sure what it is going to feel like and not sure what the consequences are going to be!

It is very easy for me to recall my first stock purchase as I have shared this story with thousands of people over the years.

It was in 1983 when I was a freshman in high school.  I had a couple of thousand dollars from mowing lawns the previous summer.    After looking at my Dad staring at the stock market pages every morning I wanted to know what the heck was he doing looking at such tiny lines of numbers and symbols.    He told me I should take some of my hard earned money the past summer and buy Johnson & Johnson stock (ticker symbol: JNJ) because I knew their brands such as Band-Aids, their shampoo and Tylenol.   I said OK and bought ten shares at roughly $43 per share with a brokerage commission of nearly $75.00!    Funny how you remember the exact price of the first stock you purchased and the commission if you purchased stock before 1997.

Here’s where my first stock investment story gets nuts.   No more than 30 days after I purchased stock in JNJ, the company was in the national news as a result of the famous “Tylenol Scare” incident.   Seven people were killed from a person lacing Extra Strength Tylenol capsules with potassium cyanide in the Chicago area.     As a result of this sad incident the price of JNJ’s stock plummeted to $28 per share!    I told my Dad this stock market stuff is crazy and that I just lost $150 of hard earned money.    He immediately responded with the fact that I should buy more because the stock had been unfairly sold off on this news.   I said he was nuts.    I neither bought more nor sold my stock but rather just sat on it.    As is usual with parents the older you get the more you realize they are not that stupid.   Just a few months later I wish I had listened and bought more.      JNJ’s stock went on to climb year after year and I experienced two stock splits which gave me a total of 40 shares in a period of six years.

What a great lesson I learned.    At my age I was in my investments for the long term not the daily swings of stocks.

So what was your first stock purchase?   You know it like the back of your hand.   I would love to hear it.   And if you have not begun to invest yet I would encourage you to do so.     Not only can you begin investing in stocks today with as little as $100 from online brokerages like ShareBuilder but you won’t have to pay $75 commissions like I had to back in the day.    Go for it.   You will be glad you did and you will have a story to share yourself.

As founder of Young Money, Todd Romer started investing in stocks at age 16 from money he saved mowing lawns. Todd is very passionate about teaching and encouraging today’s young adults to begin investing given the time value advantage. Todd has spoken to thousands of young adults about money and investing and remains part of the executive team of Young Money media today.

Every winter I wait as long as possible to turn on my heat. I bundle up in sweaters and wrap myself in blankets, but the day eventually comes when I just can’t take it any more and I have to give in and turn on the heat.

But this year, I decided to do it right. I called my energy company (BG&E) and asked the right temperatures to keep my home. They informed me that most people should keep their house between 68 and 70 degrees when they’re awake and 60 to 65 degrees when asleep. If you keep it any colder then your furnace has to work harder to heat your house up in the morning.

To make this easier, you may want to try a programmable thermostat to raise and lower your heat at preset times. Call your energy company and ask if they provide programmable thermostats or if you can get a rebate for installing one.

Here are some other ways to prepare for the cold without breaking the bank:

Don’t let your heat runaway. Check all around your house for escaping heat. Check doors, windows, fireplaces, and anyplace that you feel a draft. Close off the leaks: Caulk around your windows. Use weather stripping. Use additional insulation. You can often get rebates on products like these, so check into it.

Close the door. If you never go into your basement then don’t heat it! Close the door to keep the cold air from entering the rest of the house and the hot air from leaving.

Keep your furnace clean and happy. Make sure all of your heating equipment is in tiptop shape. Dirty filters can really reduce the efficacy of your furnace.

Turn off those ventilation fans. Bathroom ventilation fans and kitchen hood fans suck the heat right out of your house, in a little more than an hour! You’ll be amazed at how much this can affect your heating bill.

Use cold water. Wash your clothes in cold water whenever possible. Also, make sure your water heater is warm; try wrapping it in an insulation blanket to keep the heat from escaping. No one is asking you to take a cold shower, but cutting down the amount of time you spend in a hot shower can really save you money.

Let the sun shine in. Open those blinds and let the sun warm your home! If it’s not sunny, then close the curtains – the heavier than better – to keep the cold out.

I remember when I was in B-School we had a business plan competition in class. Five or six venture capitalists came in to listen to group presentations. One student asked the VCs to sign a Non Disclosure Agreement (NDA). He was practically laughed out of the room. He thought his idea was so good and so unique that he had to protect it.

Whether his idea was good or bad, (in this case bad according to the VCs) was irrelevant.  VCs typically do not sign NDAs for non-operational businesses. If it’s in the business plan stage, while it is vulnerable, it also has much less value. Here are a few ways to protect your idea:

1.    Trademark your name and register the domain name to match (if available). Trade marking protects the brand you are trying to build and is a good first step when you are in the early stages of your business.
2.    Patent your product or service. In the past, protection was available via the patent process and still is in some cases. But recently this option narrowed by a court opinion which stated that abstract processes, often involving thoughts only, may not be patentable. Depending on your idea, this could be more important. Be sure to speak to your lawyer.
3.    Start operating. The best thing to possibly do is just start operating. Take the risks. Form relationships with clients, vendors and any other groups you will need. Many people have had the same idea or a similar idea. The sooner you are able to begin to build barriers to entry, the better off your company will be.

No matter how great your idea is, you shouldn’t be too afraid to get it out there. Chances are you aren’t the first one to have this idea, so don’t let the fear that someone might steal it hold you back.

Editor Cara Newman is following the advice and tips of various articles posted on Young Money to show how well they really work. These first posts follow the techniques presented in Save $1000 by Black Friday. Follow along to see how much she saves, and what impact it has on her life.

So far I have saved $503.28.With only three more weeks until Black Friday I have to pick up my pace if I want to reach $1000 by then.

Before I started this I thought that I would have to make big sacrifices. I thought that I would really feel the impact of saving $1000. But, so far, I haven’t felt a thing. It’s been a lot easier than I thought. But, on the other hand, I haven’t reached my goal so maybe I shouldn’t start patting myself on the back quite yet.

Not sure where to cut corners next, I decided to go through and look at my budget. Like everybody else I have categories like mortgage and rent. Now my mortgage is fixed. There is nothing I can do about that. But some of my other monthly bills weren’t as fixed as I thought. So I went to Billshrink.com. In just a few minutes I had entered just a little bit of information about where I live and my phone usage. Then, a few seconds later, they came back with a better phone plan for me. It turns out that by switching my phone plan. I could be saving $480 a year. This comes out to $40 a month. Since this is the first week in November I will add that on today.

I have also been keeping track of bank fees this month. I looked up my bank records from last year (October 2007) and noticed that I spent $28 in unnecessary bank fees that month alone. This past October, I spent $2.50. That’s a savings of $25.50—money I would have just been throwing away.

This week I saved $2.69 in change. I also saved $24 by bringing my lunch everyday.

Finally, I decided not to go grocery shopping this week. Usually I spend around $200 for a little over a week of groceries for me and my husband. But, I decided to eat every single thing in our house before we bought anything else. That means the cans of green beans that have been sitting in the back of the cabinet and the ramen noodles that were all but forgotten on the top shelf. We might not have had the best meals, but it did force us to get creative. However, I did spend $50 on fresh fruit and vegetables, leaving me with a savings of $150.

And I still had fun this week. I went to see the Bad Brains play at the 9:30 Club in D.C. But since I haven’t been touching my “miscellaneous fund,” it didn’t affect my budget at all. And life is about balance, if you can’t have fun once in a while then what’s the point?

Savings this week: $242.19

Total savings: $745.47

Impact: I’m a little sick of eating soup and noodles, but so far so good.