Trade Your Mattress Money for Less
Many times throughout the week, I hear weather reports that the sky is falling. I keep looking out the window and have to disagree. What they are really talking about is the state of the economy. There are folks that believe things are worse than in The Great Depression. I beg to differ, as I believe there were 29% unemployed and 30% underemployed back then. Another sign is that people are still options trading online. You may have thought that the era of the day trader was gone, but it is very much still here. The difference is that they are just getting more cognizant of loads and fees. Also, many of them are trading online to adjust their nest egg, rather than to throw caution to the wind.
Everything has gotten more competitive as far as fees go, from online video rentals, to services that charge no fee at all if you do business with the website in a certain volume. Online stock trading has gone the same way, with Trade Monster even offering $7.50 per trade (transaction), which is rock bottom compared to other services. There are additional fees for closing out an IRA, or other major events, but for the most part, there are no “catches.” You merely pay for only what you need.
To me, this is a whole new arena. Even in the mid 90s it wasn’t widespread for the average person to trade online. You toddled off to your broker’s office. Some say that the human touch is lacking for the amount that we can now do online, but on the other hand, the level of education available has increased. TM offers webinars and other tools to educate you. Of course, it doesn’t replace decades of experience, but the power is now in your hands.
The frugal person that I am, I always file information like this in a special little section of my brain. Saving a few dollars here and there just means that even though things may be tight, I can still carve out a few dollars to use for leisure. I still like to add to my collection or wardrobe, and with watching my pennies on things I consider more mundane, I can live within my means for less.
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