Hit the electronics store

Don’t feel guilty if you want to spend it on technology – just make sure you get a great deal. One of the best electronics buys for just under $1,000 right now is the Sony Bravia KDL-46EX500 at $990. You get better black levels, better contrast, and better brand name than the cheapest $800 LCD in the market.

Grow your investing knowledge

Your ability to handle your money and understand risks can lead you to a more stable financial standing in the future. Buy, read, and live what you have learned from good books, such as Peter Bernstein’s “Against the Gods”. Take an investing class at a college near you (cost: about $200 to $500). Or go to conferences where you can learn from the bests in the field, such as Morningstar’s Stocks Forum in Chicago on November 3 and 4 ($349).

Do some good

You can also transform your money into something tangible for a worthy cause. Based on Charitynavigator.org ratings, these top three charities can help you 1) restore 5 acres of Louisiana wetlands for wildlife through The Conservation Fund; 2) buy 13 work uniforms for the homeless people through the Coalition for the Homeless; and 3) supply 8,000 vitamin A capsules for needy children overseas through Vitamin Angels.

CNN

Too many people looking for jobs, too few jobs that are open. It’s a typical story for many job hunters to gun just for any job that pays these days. And even that often is frustrating, especially for people who have had tons of corporate experience and fancy degrees. Job hunting burnout seems to a popular thing nowadays.

And you can’t blame them. It takes a really strong personality (or a pretty messed up mind) not to get frustrated in this economy.

Here are a few things that you can do to get back on your feet:

• Move in with mom and dad – It takes a lot of guts to do this, especially in a culture like America. But family’s family. Just try to pitch in while you can and follow house rules. At least you won’t have to worry about a roof over your head while you get back on your feet.
• Learn a new skill – It’s all about exploiting opportunities. Some jobs might be totally unrelated to your experience and training. So why not re-tool yourself to perform in those jobs?
• Community and volunteer work – A problem with being unemployed is you also start losing a sense of self. Try doing a bit of community service and volunteer work so that you’d be able to keep a sense of importance by helping others out.
• Grow a garden – There’s something zen about gardening, it may take your mind off the stress. Try growing a vegetable plot in your garden. At least when push comes to shove, you won’t starve.
• Freelance or do odd jobs – Freelance for a project or two. Mow lawns. Babysit. Tutor kids. They might not be worthy career prospects but they will keep the money flowing.

Here’s a sample costing of some of the common but probably unnecessary expenses you might incur during the day:

1 pack of cigarettes – $4
1 cup of coffee – $1
1 takeout for lunch or dinner – $12
1 can of beer – $0.65

Total: $17.65

That’s $17.65 a day that you spend on things you can probably do without. In the course of the month, (let’s say that these expenses just occur during weekdays), that’s already $388.30 ($17.65 x 22). . And for most smokers, a pack is a bare minimum. So is a cup of coffee for most caffeine addicts. This total can definitely be substantially more.

Now take a look at your credit card’s statement of account. How much debt are your still packing? How much interest are you being charged on a monthly basis for not being able to pay it off? This just shows you how your unpaid debt and your vices are milking you dry.

The interest on debt alone is costing you money that you don’t have and your vices are costing you the money that you do have. So why not make the most out of the money that you do have and re-channel that to servicing your debt.

Build up your emergency fund. This can’t be stressed enough. If your current emergency fund is just for 6 months worth of living expenses (the former standard emergency fund amount), try to gun for something that would sustain you longer say, a year, minimum. No one knows the length of the crunch and it’s always better to reinforce your cover once another round of job cut barrage hits. Favor this over your other expenses and investments for now. Better be safe than sorry.

Cut your losses quick. If you have invested in stocks then you should know that the Dow and S&P indexes are both at 12-year lows. You might not have to go as far as dumping everything to cut your losses short but reallocating your investments and diversifying your portfolio give you better chances once (if?) the market recovers. It’s always a gamble with stocks but if you don’t happen to have much spare funds for daily expenses, it might be better to be liquid these days.

Take care of your 401(k). Building up your emergency fund doesn’t mean that you have to plug other cash flows such as your 401(k) contributions. Don’t waste your chance to double your money if your employer matches your contributions. However, just be sure to contribute only to as much as your employer matches it.