Tag: savings

Question: Fuel vs. Internet

What do you spend more more on: your Internet connection bills or your car’s fuel?  Use monthly periods. How does that change if you consider all extras for your Internet connection (web hosting and other web services, extra services from your ISP, extra bandwidth utilization charges, etc) and extras for your car maintenance (oil, service, car wash, etc)?

(I came up with these questions while reviewing my spending statistics at Wesabe, which is an excellent service.  The basis for comparison of fuel to Internet connection lies in both of these being vital for many modern citizens, while they are currently mutually exclusive – you don’t use Internet while driving and you don’t use your car while using the Internet.  Not just yet.) 

Make your kids rich. Just a thought.

I had to visit the bank today.  Since I was on my way to the park (with Maxim), I decided to take him in.  While we were standing in the queue, one of the clerks stopped by to say hi.  She played a bit with Maxim and suggested that we open an account for him.  I thought she was kidding, so I replied in a Fargo-ish way “Oh, yeah.  Right”. Surprisingly, she looked at me very seriously and said that she wasn’t joking one bit.

Needless to say I got interested.  She said that all I had to do was to bring Maxim’s birth certificate, and based on this document she can open a bank account on his name.  Maxim will only be able to use this account when he is 18.  But until than, both I and Olga can transfer small amounts of money to that account – 10 or 20 pounds a month.

As a result, if we’d do that, Maxim will have a good sum of money to start the adult life.  (Calculations for the lazy ones: 10 pounds per month x 12 month per year = 120 pounds per year.  Maxim is now 1 year old.  That means that he has another 17 years to go before he can use the account.  120 pounds per year x 17 years = 2040 pounds + bank percentage.  4080 + percentage you’re willing to make it 20 pounds per month).

I understand that for many parents saying this outloud is like repeating that the planet Earth is round, but for me it was a completely new unconsidered idea.  I’ll be rushing back to the bank with Maxim’s birth certificates one of these days.