Lazy Man, Author at Lazy Man and Money

Now Can We Talk About Free College?

July 9, 2020 by Lazy Man 5 Comments

I have been planning to write this article for over a year after this Twitter discussion. Well, I had hoped to write about it before then, but that discussion renewed my interest. The idea of “free college” seems to be very political – it shouldn’t be.

We don’t get political about free high school. There was a time when a high school degree was acceptable for many white-collar jobs. When I went to college in 1994 that was the new normal. I can’t think of one kid in my class that didn’t go to college – but being in the higher academic classes, this is just my subjective view. I was fortunate and got a full scholarship, but my family had saved up for a long time for college costs.

Tuition wasn’t so bad in those days. It’s really become a big problem in the decade or two. This 5-minute video explains what’s wrong, but in general, loans became too easy, which meant that colleges could simply keep raising prices.

It’s a good time to bring this topic back. Harvard recently announced that all classes for the 2020/2021 year will be online. There will be no in-class instruction. Tuition however will still be around $50,000 a year. Harvard also has a $40 billion endowment. Harvard has had free online courses for years. I would hope that for all that extra money, the quality of education would be much, much better at the university. There would certainly be teacher interaction, which presumably is not available in the free courses. (Note: I haven’t taken any of the free courses.)

In my opinion, it seems strange that there’s such a price difference between the two. You’d almost have to work to make the online courses particular poor and of zero value.

I know comparing all schools to Harvard is silly, but many colleges are going to be online due to COVID-19. It’s not like they chose to. It’s simply the world we live in now.

Some students are rightfully pointing out that most school’s online tuition is a fraction of the cost for in-class tuition. For example, you can get a Master’s degree for $7,000 at Georgia Tech (and these cheap advanced degrees should be the future.) If classrooms are closed, what value do they get for the rest of their money?

How Could Free College Work

Many people object to the idea of free college because they presume they’ll have to foot the bill in the form of increased taxes. Yes, that would have to happen just like how taxes fund our public schools now.

Option 1: Free Online College

What if the version of free college isn’t what we viewed as the traditional college experience. What if there was a national curriculum of free courses just like the ones Harvard already offers. There are a lot of these classes already out there. MIT is another university that has free courses. To create a complete national curriculum, you’d have to fill in some gaps and maybe recreate the content (or license it) for legal reasons.

For lack of a better name let’s call this the National Online College. We should be able to find some marketing folk who can make it sound more exciting. (I’m obviously not one of those people.)

Creating many of these classes is a one-time cost. While some subjects like artificial intelligence will change over time, calculus is calculus. Spanish and Spanish literature doesn’t change much. Since there are already online learning resources of foreign languages with resources like Duolingo.

Additionally, there should be placement exams where students could earn credit for any previous study or knowledge. The goal here would provide students with a short path to a degree and not make them have to do years of busy work for the sake of earning the degree. Designing these exams would also be a one-time expense, though there would be some minimal annual maintenance.

I know, I know. Online learning is terrible. I just completed months of teaching a 6 and 7-year old through their tablets. Online learning is particularly bad for young kids. I think college students are able to handle it better. If college students knew it will get them a job that pays more money, that will provide a lot of motivation. My young kids can’t make the connection of education to financial stability to an easier life.

My National Online College idea would obviously not be the ideal college. It’s impossible to be ideal and online. However, it would be designed to be the lowest cost option – so low that it can be funded with minimal increase in taxes. That means that it shouldn’t be political and get strong support from the government.

The big question most have is, “Would this National Online College degree be worth anything? Can I get a good job with it?” That would be up to employers. It should be worth something if it’s designed well and if the exams are trusted indicators of proficiency. This might also be an area we could use marketing to overcome initial resistance. In the past there’s been a stigma against people who didn’t go to traditional colleges – this could be instead be marketed as students who are wise enough to avoid mountains of debt.

Currently, employers use a university’s name and reputation for validation of the job candidate. That can work for getting qualified people, but it feels more and more like the elite school’s value comes at the cost of years of debt. The National Online College would provide another alternative, even if it wasn’t the best learning environment, would help level the field.

Option 2: Free Community College

The taxpayers who say, “We don’t want to foot the bill for free college” aren’t going like this one. However, it’s already partially in place in a few states. For example, my home in Rhode Island has a free college plan. It isn’t open for all income levels, and it is a community college for an associate’s degree.

It’s a start and the governor is looking to expand it. This would improve on the National Online College idea above providing live instruction (assuming we return to pre-COVID-19 conditions). The community college experience would be better than National Online College one and they could work together. For example, after going to community college, you would likely be in a better position to score better on the National Online College’s proficiency exams.

Option 3: Free College, Cancel Debt

This is the option that you hear from Bernie Sanders. I’m for it with some restrictions – such as colleges not building lazy rivers. (There’s some discussion that the amenities don’t raise the price of colleges much – but this spending simply isn’t compatible with the idea of free college.)

However, I realize that this is a tough sell for many taxpayers. I think we could do it with Elizabeth Warren’s wealth tax. Those ideas seem too progressive at this time.

The other reason why I don’t like this option as much is that it keeps colleges in a ranking system. It would be great if society could get to a place where a person passing the National Online College test gets the same opportunity in the workplace as someone who went to Princeton.

Final Thoughts

I’m not an expert on education. I don’t even pretend to play one in the government like Betsy DeVos. (Note: She is wealthy through ownership MLM/pyramid scam Amway.) There are many people with more experience in this area than I am.

However, I do have a few advantages over many of those people. I can simply anonymously blog about ideas freely without any political repercussions. I also don’t have to do any of the work in changing the system. Lastly, I’m sure things get very complex at the low level of implementing such a plan. At 1200 words, there’s no expectation that this is a complete solution.

I Can (Still) Ride My Bike With No Handlebars

July 3, 2020 by Lazy Man 6 Comments

Today, I’m refreshing a weekend post that turned 12-years old this week.

We need it.

I thought it was relevant in 2008, but it is even more so in 2020.

If you can relate to this, I’d appreciate it if you could also turn back the clock to 2008 and leave a comment. (Blogger love comments – it makes their day.) Also, consider spreading the video (and this article if you choose) on social media.

no handlebars — I Can Ride My Bike With No Handlebars

Like almost all of my weekend posts, I try to highlight something that’s not necessarily related to personal finance. Maybe it’s a small detail of something that’s going on in my life. Earlier this week, I was driving to the store to do some shopping and I heard an unusual song. It caught my attention because I would categorize it as rap, but I don’t listen to channels that typically play rap. Perhaps it’s a lot like one of my favorite bands, Cake, that mixes in spoken word within the song.

I went home and found the video on YouTube. I showed it to my wife and she agreed that it was even better than the song itself. What do you think:

The video is not loading on my phone, so here’s a link to YouTube

That’s a great story about the paths that you can choose… how power can corrupt… how you can choose to create, build and help people… there’s lots of great symbolism.

This is the reason why I miss MTV showing music videos.

A Look Around the World of Personal Finance

Continuing along with this historical look, I decided to preserve what used to be called “link round-ups”, which were highlights from partner blogs.

Only one of these blogs is still active – Million Dollar Journey. Interestingly, their article from June 25, 2008 is titled, “RBS Predicts a Global Market Crash.” It begins: “I read a report from RBS predicting that there will be a global market crash could come at the end of summer/beginning of fall 2008.”

I’ve removed the links that no longer link to the exact article, but a surprising number of blogs are still serving (even if they are dormant).

And now some links from The Money Writers:

Looking for that the perfect ten year mortgage ? Head on over to My Dollar Plan for break down of one that’s pretty close.
9 ways to save without breaking a sweat over at Brip Blap this week is a pretty good read. I especially liked the idea of the change jar. It is amazing how much money you rack up that way. Also if you’re really savvy and have grandkids they’ll love you for giving the jar to them.
We keep seeing the prices rising at the pump and it hurts. Money Smart Life offers us a way to save money on gas – small, easy gas saving tips take a big bite out of high gas prices .
Generation X Finance gives us a reminder to keep your beneficiaries up-to-date this week. While a difficult subject, it is still important to tackle it and not leave the matter to begin another day.
Why is it that I hear that the cost of an average wedding is 20K? My neighbor’s son got married recently for 15K and still they had to do their own flowers. Ridiculous! Control your wild wedding costs! set up a wedding budget by Digerati Life sheds light on the subject.
You have heard of easy money, but sometimes it is hard to find it. Well the Sun’s Financial Diary says you could make hundreds of dollars by referring people . Some of it you’ve already seen like Revolution Money Exchange and some of it you will not have seen.
Million Dollar Journey remarks on RBS’ prediction of a global market crash . Fear mongering or truth? You decide.

Links from other great blogs:

Flexo points out that the IRS now allows you to deduct miles at 58.5 cents each. This is helpful for my wife, who occasionally drives pretty far for her work. We expect they’ll update their reimbursement to match. Perhaps this should have a regional aspect to it as well.
No Credit Needed reports on StreetRead – an interesting new site for stock quotes and financial information .
Mighty Bargain Hunter has found a great site to share with all of us who love to eat out. You get $35 in Restaurant.com gift certificates for only $4. Perhaps the prices at the gas pump won’t hurt so much with this sweet deal.
More gas-saving tips are offered this week by Free Money Finance on top of Money Smart Life’s post. These pertain more to trip taking than every day.

This article was originally published on Jun 28, 2008 at 09:50

What it’s Like to go on Vacation During Coronavirus

July 2, 2020 by Lazy Man 3 Comments

kids smores — Our annual s’mores dessert.

Today’s article is brief… expect a couple of longer ones next week and in the future as the kids go to camp (if camps still happen as planned)

So like everything in 2020, this is going to be a weird article to write. It’s especially odd because coronavirus cases are spiking across the country… except for two states, Connecticut and Rhode Island which are declining. We’re lucky enough to live in Rhode Island. We never got a big spike in our area and now things are on the decline.

I still don’t see nearly enough people wearing masks, but what’s in place is working as well as… what’s working in many European countries when you see the charts.

It’s so strange here, that we did something that few Americans can think about – go on vacation. Last week, we went on our annual trip to Block Island – a small island ~15 miles off the coast of Rhode Island. It’s only accessible by ferry and has a tiny population of ~1000 people. It’s where (allegedly) Billy Joel and Christopher Walken sneak off to if they want to get away from the celebrity life for a bit.

Block Island hasn’t a coronavirus case yet. (Now that I think about it, their “hospital” isn’t really much and I can’t imagine they do testing.)

In a role reversal, the bed and breakfast that we stay called us up and asked if we wanted to come this year. Their usual clients from out of state, couldn’t come as a practical matter, because of the state’s 14-day self-quarantine mandate.

So we did what the 30-year old song said to do:

“Sail away on the Block Island Ferry, leave all your troubles behind… take a trip back to carefree times.”

For the most part, it lived up to its promise.

Our Own Block Island Gotchas

This section is likely to go over like a lead balloon. After all, we’re already in the win column by having any kind of vacation at all.

It seems we weren’t the only people looking to take this trip. While we were able to book the hotel easily enough, the ferry itself wasn’t taking reservations for awhile. When they finally started, car reservations were filled up for the first day except for the last one at 7 PM. That would be a loss of a whole day of vacation. That’s significant when you are only staying 3 nights/4 days.

We decided to park the car and go across ourselves in the morning. I took the ferry back at 2 PM to pick up the car and bring that across to the island. I was originally disappointed by this run-around, but it’s the first 6 hours I had without the wife and kids in about 4 months. I was only disappointed that when I got back, everyone (especially my wife) was ready for sleep. I can’t blame her with two kids and the dog.

Before our trip, we got the news that my wife’s friend’s father had died. The funeral was the morning of the last day of our trip. We had planned to stay the full day, but we were able to change our ferry time and leave in the morning. (Few people leave the Block Island first thing in the morning – the ferry was almost empty.)

A four-day vacation turned into about a two day one. That’s still 2 more days than most people have during these times, but it was disappointing nonetheless.

The Block Island Vacation Itself

There isn’t a lot to do on Block Island. That’s kind of the point. There are outdoor activities like hiking, kayaking, and beaching. There are some nice tiny boutique shops. Finally, there are the restaurants. The outdoor activities are exactly the same during coronavirus – except that you bring your mask with you just in case. There aren’t many people around, so there’s not a big need to use it.

We usually go hiking and hunting for glass orbs. There’s a deal with the tourism industry on the island and a local glassmaker to hide around 500 of these on the island every year. They are extremely hard to find, and we haven’t found one in 4 years now. This year they weren’t hiding them until late July. Instead of hiking, we brought an inflatable kayak and took that out for a little while.

We didn’t get to do any boutique shopping. I’m not a big fan, but sometimes there’s something in the 75% bin that’s a good deal. The biggest reason why we didn’t get to do any is that our 6 and 7-year-old kids wouldn’t allow it without ruining the whole vacation. There’s simply nothing fun for kids in boutiques. If we had a longer vacation, we could have split up, but it didn’t work out that way.

The restaurants are very different during coronavirus of course. They were just starting to open up distanced indoor dining when our trip started. It didn’t seem like any restaurant operated the same way. A few took temperatures. Some took our name and phone number. Some had menus. Some asked us to take a picture of a menu with our phone and use that to order from. However, once again, many people don’t have an option to eat at a restaurant.

At the end of the day, the best thing about Block Island is simply unplugging from day-to-day life. It’s nice to not have to worry about a to-do list that never gets done or laundry, dishes, cooking, etc.

If we wanted to be more frugal about the planning perhaps we would have come back the evening before and saved the last night at the hotel. That would have saved us a couple of hundred dollars. However, we would had spent a lot of the last evening cleaning and packing for our trip, which would have cut down on our vacation further.

The Tim Wakefield Towels

June 26, 2020 by Lazy Man 2 Comments

Chances are you don’t know who Tim Wakefield is. That is unless you happen to be from Boston or a huge fan of baseball.

Tim Wakefield was a pitcher for the Boston Red Sox. He was known for throwing a knuckleball – a slow pitch that “dances” on the way to the plate – if thrown well. When a knuckleball is dancing it is almost impossible for the hitter to hit. It can be difficult for the catcher to catch. When a knuckleball isn’t thrown well, it doesn’t dance, and major league hitters tend to blast it out of the park for a home run.

Tim Wakefield was a polarizing pitcher for Red Sox fans. Some didn’t like him because he was fairly average statistically and a few bad pitches could erase a lead very quickly. Others, such as myself, liked him a lot. There aren’t many minor league infielders who go on to win 200 games in the majors as a pitcher.

My favorite thing about Tim Wakefield though was his ability to “eat innings.” That’s a baseball expression for pitching a lot. Most starting pitchers can pitch every 5 or 6 days. However, Wakefield could pitch every 3 days. The knuckleball doesn’t put nearly as much strain on the shoulder, so recovery is a lot faster. He could even be used to relieve other pitchers in between stats.

Trust me, there’s a real money lesson coming. I wouldn’t waste 200 words and your time if there wasn’t.

I always believed that inning eaters had a lot of value to the team. If the team is down 8 to 1 and there’s not much of a chance of coming back, you could always “surrender” the game with an inning eater. Why would you do that? It helps keep the teams’ best players rested. Wakefield didn’t perform this role too often though. He was good enough that you didn’t want to waste him on a lost cause game. However, because he could pitch more often there were times when the Red Sox could use a roster spot on an extra hitter. It was a great insurance plan.

The Tim Wakefield Towels

A couple of years ago, we somehow got two free Tanger Outlet swim towels. I think they were a gift to military members who signed up for their reward program. They are very thin. They’re white with a big Tanger Outlet logo on them. They are the bare minimum of what you might consider a towel.

We use those towels ALL the time. The kids have been through two summer camps with them. It’s almost impossible for anything to last through a single summer camp.

The fact that the towels have almost no value is what makes them valuable. Replacement towels would cost us actual money. If we bought good towels, I’d be concerned that they’d get ripped or lost. They get the job done and “eat” summer camp days like Tim Wakefield ate innings.

There are a number of similar items to those towels in our house. We’ve got a lot of reusable takeout boxes for food storage. I supplement it with a few from the Dollar Store. Rather than send our good silverware to school, I bought a couple of sets from the Dollar Store as well. The kids haven’t lost too many pieces of silverware, but one would be too many. The cheap metal ones are better than throwing away a bunch of plastic forks and spoons each day.

Final Thoughts

This article isn’t really about Tim Wakefield or towels. It’s what they represent. It explains how I approach certain spending decisions. If I have a need where quality plays a minimal role, I’ll get by spending the least amount of money possible. The money I save can be funneled to other purchases where quality is more important or saved for later investing.

Fathers, Get the Best Electric Razor Deal that I Missed

June 21, 2020 by Lazy Man Leave a Comment

I only write about deal 3 or 4 times a year. I only want to share the best of the best deals and this certainly qualifies.

A few months ago, my electric razor died. It was a Norelco three circle blade one that did its job for 5 years. Overall, it was a great value for $50.

I did some research and it seems like all the reviews pointed to electric razors that were around $200. That seemed like a lot for a frugal person like me. There was another razor in the $50 range that got some decent editorial reviews, but all the Amazon reviews seemed to say it was trash. I felt like I might be throwing $50 away.

In end, I got some sage advice on Twitter than said, “If you are going to be using it for a number of years, the expensive one is the better value.” It’s true. Sometimes it is worth paying more for the top quality.

Plus to paraphrase Danny Glover’s character in Lethal Weapon, “I’m too old for this suboptimal product.” Hmmm, maybe it was something other than “suboptimal product.”

I delayed the purchase for awhile and it started to cause me stress. With COVID-19 bringing me down and a birthday, I decided to bite the bullet and buy the $200 electric razor.

Today in my inbox, I got an email alert that it’s now available for $149. I would have waited, but it doesn’t seem like it ever goes on sale. It simply doesn’t have to, because the reviews are too good. It turns out that it actually went on sale a couple of weeks ago, in preparation for Father’s Day I’m sure.

Here’s the product:

For those who have ad blockers turned on their browsers, it’s a Braun Series 7 with Cleaning and Charging Station. I paid $200, you can buy it now for $149. That’s like Apple giving a 25% discount on its best iPads… it’s unheard of.

I’ve been very happy with my Braun Series 7. I used to only use an electric before stepping in the shower and following up with a real razor. Now if I don’t shave for a couple of days, I can just use this and move on. With one touch of a button, the razor is cleaned in its charging station and ready to go.

If this is the kind of thing you are interested in, I’d buy it right away, because it may go away now that Father’s Day is here.

What do you think, maybe give yourself a Father’s Day present today?

Note: The links on this page may earn me a commission on Amazon if you choose to buy this. However, I honestly love the Braun Series 7 (and you can see from the reviews that everyone else does too) and this is an exceptional deal.