I’m only going to be discussing online savings accounts, not money markets, CDs or anything else. All of these banks only require $1 to open and there are no fees at all. This post is for people like me who right now can’t afford to open an account that have high minimums to open.

About a week ago, my car’s left headlight went out. I decided to get them replaced with white halogen lights by Silverstar. The ones I bought at Kragen’s Auto Center cost me around $50 for a pair, while the regular yellow halogen lites would’ve cost me about $15. During the switch, I found out that my old headlight wasn’t dead, but just somehow popped out of place and just needed to be pushed back in. Goodbye, $50. But they look really good though! White light makes driving at night better.

My car also needs windshield wiper blades. This will cost me about $22 each if I order from tirerack.com. Dammit, that means it’ll cost me another $50 after taxes. Maybe I’ll shop around at local auto supply stores to compare prices.

Oil change. It’s been long overdue and I can’t be lazy with changing it on a car that’s getting old. The closest place to get an oil change is at Jiffy Lube, but their “Signature Service Oil Change” (the most basic oil change service offered) is $36.99. Even with their $7 off coupon, it’s still over $30 bucks. I wish they had a EZ Lube around here. I might have to go to Econo Lube N’ Tune? I heard their oil change only costs $25 only.

I’m going to apply for a Costco membership finally. $50 again, but it’s per year. I hear they have filet mignon (6) for $12.99. I believe this alone is well worth the deal! Additionally, buying in bulk will save me more money in the long run.

Which is more important for you right now? Or, rather: which do you prefer right now?

This is a follow up post of “Correlation Between Money and Happiness.” I guess what I want to be able to do with my blog is to show how to live comfortably while doing what I can to increase my net worth, save up, and augment my financial status in life. Sacrifices are a must, but they suck and I hate making them. I would almost rather not make the sacrifices, take the financial hit, and live more comfortably in that aspect even if I have to work harder.

Million Dollar Journey posted an article about his saving strategies, but I don’t think I could do half of what he does.

1. Do you NEED to go the theatres to watch the latest blockbuster? Or can you wait until it comes out on DVD to rent?

Yes… of course. I don’t watch every movie that comes out, but some movies, are just meant for the theater experience. The feeling of watching Megatron destroy half of a city on a gigantic screen with surround sound is pretty sweet. Although I do hate the annoyance that come with the theater experience, you can’t really replace it.

2. Do you NEED to go out for supper at a fancy restaurant? Or can you cook your supper at home?

Again, yes. Some occasions require you to take your special lady out to a $30 a plate restaurant. It’s part of boyfriend/husband obligations! But not all the time though. I usually prefer eating home cooked meals but sometime Ro-chan and I can’t help it because when we get off work, it’s already 8 or 9 pm. By that time, we’re too tired to do anything except order out and then sleep.

3. Do you NEED to go out for lunch? Or can you brownbag your lunch?

Yes, I need to go out for lunch. It’s because of the same reason as above. I simply don’t have all that free time to be packing lunch. I want to live comfortably, not always wanting to rush to pack things before I head off to work.

4. Do you NEED to buy a coffee at a coffee shop? Or can you perk your own at home?

What about when you’re not at home and you need one? I don’t usually need one until like right before mid day, and I don’t want a lukewarm coffee. Microwaving it isn’t the same either.

5, 6, and 7.
I don’t smoke, nor do I drink all that often, and I already have a pretty decent car. Although it’s getting old, it’ll do fine for a few more years.

8. Do you NEED the full digital cable package? Or can you get by with basic cable?

I really only watch two things on television: nature programs and sports. I love watching tv shows but I don’t need cable to be able to watch them because they are offered elsewhere, like network websites. But if I want to watch The Dog Whisperer marathon on National Geographic Channel, I need the premium package!

My goal in life is to live wealthy while finding a way to not make such sacrifices. Some sacrifices I can make without a second thought, but some I refuse to.

Creating a budget after calculating all those sacrifices that weren’t made is a comfortable way to live for me. Frugal living is too much of a pain in the ass for me to keep up with daily, and I feel as if it borders on discomfort. It’s just not worth it if I’m not going to be able to enjoy the finer, extra things in life. If you’re going to live this certain lifestyle, you must learn how to save and increase your net worth while splurging.

Citi’s Diamond Preferred is going to royally screw me over after 10/31 when my introductory APR is finally over: 15.33% APR. What?!? I had specifically applied for this card because it had a lower purchase APR at the time. Look at this!

It’s finally time to shop around for a new credit card. You can visit any of the many money blogs to get an idea of what the best rewarding credit card is but the ones I’ve chosen to compare are specifically for my driving and other spending habits. Here are the cards:

On an initial glance, I personally think Open Road is better if you’re able to get the lower purchase APR. However, let’s take a look at the fine print for both cards regarding their rebate % restrictions and limitations :

Discover Open Road

Earn unlimited cash rewards on all purchases. Earn a full 5% Cashback Bonus on your first $100 in combined gas and auto maintenance purchases each billing period, up $1,200 annually. In addition, earn a full 1% on all other purchases after your total annual purchases exceed $3,000; other purchases that are part of your first $1,500 earn .25% and other purchases that are part of your second $1,500 earn .50%. Combined gas and auto maintenance purchases in excess of $100 each billing period earn Cashback Bonus at the same rate as other purchases. Gas and auto maintenance purchases are those made at merchants we classify as gas stations and at stores that primarily sell automotive parts and services, such as auto dealerships, auto repair shops, tire stores and car washes. Warehouse purchases (those made at select warehouse clubs, discount stores and their affiliates) earn .25%. We do not include warehouse purchases or your first $100 in combined gas and auto maintenance purchases each month in calculating your total annual purchases to determine your tier level.

Citi Driver’s Edge

Get rewarded for the purchases you make:
•6% rebates on everyday purchases—at supermarkets, drugstores and gas stations—for the first 12 months.
• 3% rebates at supermarkets, drugstores and gas stations after your introductory 12-month period.
• 1% rebates on all other types of purchases.

Supermarkets are defined as stand-alone merchants that primarily sell a complete line of food merchandise for home consumption. Drugstores are stand-alone merchants that primarily sell prescription and proprietary drugs and nonprescription (over-the-counter) medicines. Gas stations are merchants that primarily sell vehicle fuel for consumer use. Purchases not eligible to receive the 3% rebates (6% rebates for 12 months) include, but are not limited to, purchases made at warehouse clubs, discount stores, department stores and convenience stores. In addition, online, catalog, mail order and telephone purchases are not eligible to receive 3% rebates (6% rebates for 12 months) unless the merchants identify the transactions as being made at a supermarket, drugstore or gas station. We do not determine whether merchants correctly identify and bill transactions as being made at a supermarket, drugstore or gas station. However, we do reserve the right to determine which purchases qualify for the 3% rebates (6% rebates for 12 months). The 3% rebates (6% rebates for 12 months) offer applies only to new Driver’s Edge accounts.

You may earn a maximum of $1,000 in rebates each year under the Driver’s Edge Rebate Program based upon the date you become a Citi Driver’s Edge cardmember.

All of this reading can be confusing. Basically Open Road let’s you keep the 5% cashback bonus throughout the entire time you own the card. However, Driver’s Edge’s 6% rebate is only for 12 months, then it goes down to a 3% - which is definitely not comparable to Open Road’s 5%. So, I guess I’m going with Discover, right?

Not quite. Credit Card Flyers has a neat tool where you can compare different credit cards as well as calculate their rewards earnings. Take a look at both cards’ with only some food, gas, and travel purchases made: Open Road and Driver’s Edge. Total earnings anually for Open Road is $66.00, while Driver’s Edge’s is $232.80.

Within the first 12 months of using Driver’s Edge, I can earn $166.80 more than using Open Road. Even if I use the 3% rebate instead of introductory 6%, I will earn $137.40, which is still earn $71.40 more. The credit card company I want to get away from offers the best frequent drivers’ card. Go figure.