Friday, February 8, 2008

Finance Friday's for Beginners - Sick Day

Bear is sick today, again. I thought he might be coming down with something when I dropped him off at daycare this morning since he felt a little warm and had a runny nose. But he was eating fine and not acting sick. I called my husband on the way into work and warned him that the daycare might be calling if my suspicions are correct. And what do you know, they called at 1:30 this afternoon asking us to come get him because he has a temperature of 101.

I called my husband and got him on his way and then called the doctors office. 15 minutes later I got through and begged to see a doctor, any doctor. Luckily they have about 15 pediatric doctors so they can get him in at 3 today. I'm really not the paranoid Mom that calls the doctor every time my child sneezes but experience has taught me that sick babies and weekends do not mix. The two times we have taken him to the hospital this year have been on weekends. Not to mention the multiple trips to the urgent care. This time I thought I would try to head it off at the pass.
This is the first official week of Finance Fridays for Beginners and since I need to work this afternoon and I spent the last 20 minutes making sick baby arrangements I will keep this brief.

Here is my run down for the week:

1. Select an online trading platform - After my bad experience in December with another online banking company, whom shall remain nameless but may or may not rhyme with B-Smade, my friend recommended another more powerful platform, thinkorswim . I was a little leary but he assured me that this is what the "big dogs" use as it is a very powerful tool. So I logged on Tuesday evening and set up the account online. All I need to do now is to fund the account. They offer wire transfers, Automated Funds Transfer (ACH Transfer), External and Internal Transfers, and funding by the old fashioned check. I believe we will be going with an ACH this time since the last time I tried to set up an account with that other company they held my check hostage for 3 months before sending it back attached to a checklist that said "Account cancelled".

2. Researching Stocks - My friend also recommended I start researching stocks. He pointed me in the direction of Google Finance and Yahoo Finance. He suggested I start looking at stocks in companies that I know and use. Ones like Walmart, Amazon, Target, Apple, etc. Some of those are bad examples because they aren't doing all that well but you get the idea. I started typing those in the handy search box at the top of the page and looking at their charts. I believe the initial chart you see is only for a day or so. I expanded and looked at the past 6 months, the past year, the past 10 years. Just trying to familiarize myself with them.

3. Getting advice online - My friend also recommended another online resource, a blog run by a very colorful gentleman who uses the pseudonym, Genesis. He is very colorful in his language and doesn't seem to care who he makes mad but according to my friend he is usually spot on in his analysis. At the bottom of each post he also provides a ticker for those of you who aren't afraid of charts and graphs.

Thats it for this week.

*Oh and if you are interested in the funky baby shirts from Polly Tod that I featured on my blog 2 weeks ago, they sent me an email today with a code for 40% off any order. Just use this code at check out COUPON CODE: blogagogo. Did I mention $5.00 shipping? What are you waiting for? *


Candy said...

Hey there. I clicked a bunch of links and ended up here, don't ask me how.

This is very interesting. I'm in my 40s and have had a life-long curiosity about investments but have never tried it. I'm frankly terrified.

I'm not sure I'm ready to swim with the big fish yet, but I'm reading...and thinking.

Anonymous said...

I am so impressed that you do any online trading -- Not to mention that you're brave enough to post about it!

Once the paychecks finally start rolling in, maybe I'll check out those sites!

Have you gotten your Polly Tod shirt in the mail yet? I got an email that mine is on the way and I'm so excited!

Lisa Leonard said...

I don't think I got your email or I missed it somehow (regarding the necklace). Will you resend it? I am heading out of town and will check back in on Sunday night. xoxo

Christine said...

Thanks for the heads up on the Polly Tod coupon... I guess it's okay that I pass on the savings????

Erin said...

Hey Chickie! Thanks for passing the Polly Todd coupon code along, I just placed an order and saved $17 bucks! :)