ETFs (Exchange Traded Funds) can do amazing things.  If you have the stomach for risk, the following new entries to world of ETFs can help you stay in the black when the market turns red.

1. Short ETFs
ETFs that “short” the market are, in the simplest terms, betting that the market will go down.   For example, if you believe the Dow Jones Industrial Average will decline 3% in one day, you can purchase ProShare’s Short Dow 30 ETF – DOG.  If the Dow does go down 3%, this fund will increase 3%.  Of course, if you are incorrect and the Dow increases 5%, this fund will lose 5%.   It’s not limited to the Dow, a few more examples are PSQ which shorts the NASDAQ, and SH which shorts the S&P 500.

2. Ultra Short ETFs
Regular shorting not exciting enough for you?  If you’re ready to roll the dice for even greater potential returns, so-called “UltraShort” shares return two-times the market.   If you short the Russell 2000 Small Cap Index using ProShare’s TWM and it decreases by 8%, TWM will return an impressive 16%.  But again, if the Russell 2000 increases even a small 2%, this fund will lose 4%.  Ultra Short ETFs can be found to short the NASDAQ, the S&P 500, Mid Caps and more.

3. 3X Bear ETFs
If you’ve full on lost your mind for shorting and are absolutely convinced the market will tumble and fall down, down, down, there are also ETFs which short the market and return THREE TIMES the fall.  Direxion’s Large Cap Bear 3x Shares (BGZ) shorts the Russell 1000 three times its inverse.  Of course, this also means if the market rebounds you are set to lose three times as much as it increases.  Vegas, anyone?

4. Long ETF
It wouldn’t be fair to ignore the flip side.  You think the market has been beaten up as much as it can, the floor has been set and we’re ready to rebound.  So now you’re ready to “long” the market (the opposite of short, of course).  So you bet it will go up in price, instead of down.  “Sounds like a regular investment” you say, and of course, you’re right.  But in the vein of the multiplier ETFs mentioned above, you can also bet on the market going up and get two-times or three-times returns.  ProShares Ultra QQQ (QLD) aims to return twice the return of the NASDAQ 100 and Direxion’s Large Cap Bull 3X Shares (BGU) seeks daily investment results of 300% of the price performance of the Russell 1000 Index.

Keep in mind that these investments are extremely RISKY.  But if you play your cards right, the market can work in your favor, if it goes up or down.

By Grace Bastidas | MainStreet.com

The job cuts keep coming. Whether it is small business owners, or Citigroup (Stock Quote: C), which just announced more than 50,000 anticipated layoffs, it seems few jobs are safe.

Are you are someone in your family looking for work? Good luck. The number of unemployed Americans soared to 10.1 million last month, according to the U.S. Department of Labor, so competition is stiff. Job seekers need to network as much as possible, and a career fair is a great start.

“It’s an opportunity to get out there and see who’s hiring,” says Norm Meshriy, a career counselor based in Walnut Creek, Calif.

Here’s how to put your best self forward:

BEFORE:
Organize the essentials. Proofread your resume and make sure it’s up-to-date, error-free, to-the-point and print out at least a dozen copies of it. Order business cards —“even if they just have your name and some simple information,” recommends Meshriy. And if you want extra credit, set up a Web site that showcases your professional image.

Research the companies in attendance. “The way to stand out to a recruiter or hiring manager is to know about the company,” says Meshriy. Find out about their structure, services, hiring practices, and needs.

Prepare a 30-second pitch. “You want to include who you are, where you are from, one interesting thing you have done, what you are looking for, and what you need from the person you are speaking to,” writes life coach Deborah Brown-Volkman in the book, Don’t Blow It! The Right Words for the Right Job.

Plan your outfit carefully. “You don’t want to look too dressed up—too in need,” says Meshriy. “But you don’t want to look too casual, so that they can’t picture you in a work setting.” Dress as if you were going in for an interview.

DURING:
Get there early. “I always recommend that they get there while people are setting up so that they can walk around and see where their target companies are, and so that they can set their priorities,” says Meshriy. “Usually, the most animated people are more interested in filling those positions,” he says.

Be clear about your objective. “What do you want to gain by attending? Do you want a new job? Do you want to meet a specific person? Do you want information or an informational interview? How many people do you want to meet? You cannot get what you want unless you know what you want,” writes Brown-Volkman.

If you’re nervous, take a deep breath and introduce yourself—this is where your 30-second “commercial” comes into play. “You want to be professional, direct, courteous, and conscious of the potential employer’s time,” says Lynn Berger, a career coach in New York City. Chances are there’ll be a line of job seekers behind you. “You don’t want to be the person that hogs all their time,” adds Berger. “You want to move around.”

Network effectively. Before you leave each booth or station, offer the recruiter a copy of your resume and ask for a business card on which you can jot down notes about your conversation. “Most importantly, ask for permission to follow-up,” says Berger. “Ninety-nine out of 100 people will say yes,” says Meshriy. “By asking at the fair, you put your foot in the door.”

AFTER:
Follow up. You can measure success by how many job leads you learned about, according Brown-Volkman. The trick is to follow-up by calling or emailing within a week. “Then, keep following up with that person until you get the desired interview or assistance you need.” Chances are you need them more than they need you so be patient, but persistent.

Lastly, send a thank you note to each person you spoke with. “I’m a bit old-fashioned, I like a card in the mail,” says Meshriy, who believes a hand-written letter goes a long way. It’s a simple step that can make a lasting impression.

Here’s a brief view of conversations happening across Geezeo right now. What say you?

Do You Know? Common versus Preferred Stock
Do You Agree? Car pooling saves loot
Buy, Hold, or Sell? El Paso Corp
First Time Homebuyers: Does size matter?
Eat In Tonight? How much do you spend on food monthly?
What If: You Had a Cool Million?
Check Up: How is your IRA and investment doing?

Let’s be honest, nobody wants to pay taxes but it is just one of those things that needs to be done. As a recent college graduate, my dad has always done my taxes for me. I know that many graduates are in the same situation as I am: what do I do now?

Here are some tips that might help you get through your first round of taxes:

1. Ask for Help – Your parents, friends, or other family members are not going to say no if you ask them for help with filing your taxes. If you are confused it is better for you to ask someone to walk you through them your first time instead of doing it wrong and continuing to do it wrong in the years to follow. Ask if you could sit down with someone while they do their own taxes (yes, this may be extremely boring but you will learn a lot).

2. You Don’t Need to Pay Someone – My friend paid someone a few years ago to help her with her taxes and realized it was a huge waste of money since everything got messed up. Don’t leave your taxes to someone else. Turbo Tax can be extremely helpful and gives you step by step instructions on what to do. I’m not saying that paying someone will end up poorly for you, but if you are trying to save some money then try doing your taxes by yourself first.

3. Don’t Try to Skip Out on Taxes – It won’t help you in the long run to avoid paying your taxes. If you get paid in cash under the table and do not get taxes taken out, you don’t want to try to avoid filing your earnings with the government. Yes, some people may slip through the cracks, but there is a chance that you may not and the consequences may be more than you want to pay. According to our partners at MainStreet.com, more than 50% of taxpayers will be audited during their lifetime when it comes to their taxes. Don’t take risks or try to find loopholes because you could be one of these people!

4. Consider All Your Options – There are so many ways that you can get some money back on your taxes. In an article at MainStreet.com, Sean Leviashvili explains all the areas that you should consider while filing for your taxes such as your 401(k), property taxes, and charitable contributions. Check out the article here for more information about how these and other areas can help you save money on your taxes this year.

Taxes won’t be fun so doing it for the first time might be a little bit stressful. Nobody likes doing their taxes (except for maybe those that do them for a living) but it is something that needs to be done. Check out some advice from our Geezeo users in the Grim Reaper: Death, Taxes, Wills, Lawsuits, etc. group!

Photo: Aldo Garza

I myself must admit that I am a bit of a coupon-a-holic.  But consider my results – on a good shopping trip, combining coupons and sales, I have saved nearly $100 off of my grocery bill!  And it’s not on items that we wouldn’t normally use.  It’s items that we can stock up on because we use them so often.  It makes sense that if you can, you should.

Recently, I’ve had the pleasure of speaking with another self-proclaimed coupon-a-holic and Geezeo user – Jenni (aka jkbrigham).  We talked about how to find ways to save money and some of her best experiences.   Read on to find out more!

Jenni, one of the ways you find to cut back on your family spending is by using coupons.  How long have you been doing this?

On and off for about 4 1/2 years.  More on than off really.

Did you ever get to the point that you felt it wasn’t worth the time anymore to do this?  And why?

At times yes!  When we’re in a financial position where we don’t have to be as particular with spending  it’s pretty easy to think “Hey – we have the money, why bother with the coupons” but I always end up couponing again – it’s an addiction I suppose, but if an addiction can save money instead of spending it I’m all for it!

Jenni, if you will, recall your favorite couponing experience.

There are a couple. The first was about 2 years ago.  The local grocery store was having a HUGE double/triple coupon sale (unfortunately this place closed – I MISS IT!) – they were doubling coupons up to $1.00 and tripling coupons up to $0.75.  I got everything lined up and ready and Austin and I went shopping!!  At the register the total was $163.00 – after coupons we paid $3.00. It was GREAT!!

Then recently there was another HUGE coupon trip.  No doubles or triples, just a LOT of planning and hunting deals.  Before coupons my total was $138.61, after it was only $42.79 and I ended up with about 15 lbs of free beef (ground, steaks, etc).  So that means I saved 95.82 on coupons and sales.  My best friend couponed with me that night and saved over $100.00 on her groceries as well – that’s nearly $200.00 off total just by planning and clipping!

What advice would you two like to pass on to others about the benefits of couponing (or, if any, the pitfalls)?

Couponing can be a real blessing to your family as long as you remember a few things – don’t buy it JUST because you have a coupon.  Do you use the item? Is the store brand still cheaper than the after coupon price? All important!  Stock up only as much of an item as you will use before they expire.  Sure something might be free or cheap with a coupon, but if 1/2 of them will end up in the garbage then you’re not really doing yourself a favor by buying them.  Plan your list and menu (YES I plan a menu before I shop – eliminates those expensive mid-week ”forgot something” trips!) according to your coupons and sales to save the most money.

Pitfalls – its WORK.  It is fun but it is also work.  Hunting through the papers for coupons and sales, looking online for printable coupons, calculating prices per ounce – all of this takes time and patience but in the end it IS worth it.  You will save so much money!

Thanks again Jenni, for taking the time to sit down and talk with Geezeo about your experiences.  Ryan at Frugal In Virginia wrote about being married to a coupon-a-holic.  Check out what he said.

Also Financially Frugal Families is a group here on Geezeo that you can go to in order to find some more tips on ways to save some money.

By Peter McDougall | MainStreet.com

Keeping your financial house in order is important. It’s even more crucial if you recently lost your job.

“Failing to manage your finances during unemployment could affect your credit report and hurt your chances of landing a new job,” says Mechel Glass, director of education at the Consumer Credit Counseling Services of Greater Atlanta.

For the first time since 2001, the economy has lost more than a million jobs in a single year, which means a lot of people are struggling to make ends meet. Here are a few financial tips to consider if you’ve lost your job.

Cash vs. Credit

If you have an emergency reserve or a rainy day fund, use that to pay necessary expenses including medical and grocery bills before turning to credit cards or other debt. Taking on debt when you have lost your income stream is a recipe for disaster. It may seem like a viable solution in the short term, but it will leave you in a financial hole when you finally get back on your feet.

Re-Evaluate Expenses

Trim spending as much as possible. Food, medicine and regular bills such as mortgage and utility payments are essential expenses. Consider cutting anything you can do without, such as new clothes, movie tickets, eating out or even cable TV. Expenses related to your job search, however, should remain untouched. Even though you aren’t getting paid for it, looking for work is now your full-time job and an essential expense.

Pay Your Debts

A third of your credit score is based on how promptly you pay off debt, and protecting that score is key to limiting the long-term damage of unemployment. Keeping up with minimum payments on existing credit-card balances not only protects your credit score, but also wards off penalties that could weigh you down even further. Make sure to keep current with mortgage payments.

Contact your lenders to explain the recent loss of income and find out if there is a way to defer or reduce payments. If you can no longer make your mortgage payments, contact a mortgage counselor at HopeNow (1-888-995-HOPE), a government-approved coalition of companies in the mortgage industry that provide free foreclosure-prevention assistance.

Seek Help

Before weeks turn into months, consider seeking help from an organization such as the CCCS of Greater Atlanta. A counselor can help set up a realistic budget and provide help working with creditors to avoid defaulting on loans. Counselors can help consumers who are in financial trouble as well as those at risk of getting into trouble.

Contact your town hall or county government to find out what social services are available. Residents of most states can also contact United Way’s 211 by dialing 2-1-1 to get in touch with local food banks and low-cost services such as day care.

If you still have a job but are worried about job security, consider implementing some of these tactics before receiving a pink slip. Taking a more conservative line with your finances, including building up a bigger emergency fund, can make a few months of unemployment a lot easier to get through.

“Only when the tide goes out do you discover who’s been swimming naked.”, once said uber-investor Warren Buffett.

Now that the economic tide is retreating there are a lot of nervous people self-consciously wondering and worrying what others might think — much like the pink-parts-exposed soul who accidentally wanders from the nudist beach to the one requiring clothes. (Embarrassing!)

How do you find out if you’re “swimming naked”? Easy. You’re getting a little nervous. Maybe even getting a bit panicky.

Here’s the thing: there’s a lot of panic these days. Now is the time to reject the group mentality and get dressed up in some chin-up confidence when it comes to managing your money. Here’s how.

Beware, critics. It’s good to listen to constructive criticism. But you can save yourself a lot of anxiety if you politely decline listening to lengthy complaints about the national or local economy. Misery loves company and these complaints won’t help you.

Instead, focus on what you can control. There are aspects of our economic meltdown over which you as an individual have no control. Here are a few things you can control: your attitude, your strategy, and your willingness to adjust accordingly and accept change. All of these are critical skills that go hand-in-hand with nuts-and-bolts budgeting.

Reduce your overhead as much as possible and build your cash cushion. Now is a great time to pay off your debts and start building that emergency fund. Both are big goals here at Geezeo and you can find encouragement from others who are working to do the same thing.

Look for golden opportunities. Warren Buffett also said “a public-opinion polls is no substitute for thought.” While everyone else is worrying you can take the lead and see opportunities others may miss.

Chin up!

When times are hard, it is difficult to imagine giving money to charities when you are searching for money yourself. When times are hard, people get very caught up in everything around them and forget that there are other people out there that might be a little bit worse off. Giving back to your community or to families in need does not always have to be costly. Donating does not always have to be expensive.

Here are some ways you can give back this holiday season:

Soup Kitchen – Donating your time is the best thing to do (and free for you!). Soup kitchens and shelters are always looking for help and volunteers around the holiday season. Get some friends together and do this together! It will make you feel really great and all you have to do is donate some of your time. Yes, everyone is busy around the holidays, but one day (or even just a few hours) of your time can make all the difference in someone else’s holiday season.

Canned Food Drive – Search through your cabinets! Many times people buy canned food because it is on sale or just because at the time they thought they would use it. If you find cans in your cabinet that you don’t think you will be using anytime soon, donate these to a canned food drive. If they are just going to sit in your cabinet in the kitchen until they expire, they can make a difference for someone else when it comes to making dinner one night. If you are like my mum, you always stock up on canned food during the winter just in case a storm hits. Clean out your cabinets and donate what you don’t need.

Used Clothes – Purge, purge, purge…this will feel great, trust me! There are always clothes that you can’t get rid of. I’m not suggesting get rid of your basics (or clothes that you wear all the time) but there are always clothes in the way back of your closet that you haven’t worn forever. Or perhaps they just don’t fit anymore! Donate old winter coats that your kids have grown out of or that might have a broken zipper. If the zipper is broken and that is why you aren’t wearing it, it doesn’t necessarily mean that it wouldn’t keep someone else warm this winter. You can look online for drop of locations for good will and other places that take used clothes. Also, if you keep track of what you donate and it adds up to a significant amount of money, you can put this on your taxes and get a tax break!

Donate More Than is Necessary – Recently my job had a Turkey Dinner Day where you got a whole turkey dinner just for donating a dollar. We raised over $4,000 but we could have done much better than that if everyone donated just a little bit more. I figured that lunch in the café costs about $5 (or more) anyway, so I gave a little bit more than was necessary. Giving an extra $4 that I would have spent on lunch anyway can make all the difference in how much money was raised.

It isn’t always easy to take a step back and think of other people outside your friends and family during the holiday, but if you do remember it can make all the difference for someone else (and also for you!). Donating your time (or a little bit of money) can make you feel that you are able to help out someone else just a little bit. With times being so hard for everyone, nobody is expecting much, but every little bit counts!

Photo: Malinda Welte

MSN Money shares a blog from Blueprint for Financial Prosperity on 11 ways to save on shipping.  You may be shipping out presents for family/friends that do not live near you.  If that’s the case, these are some good tips to help cut costs.

In case you haven’t found that perfect gift yet, check out Christian PF for some great ideas!  The Shadow Wall Art Lamps look like they could be a real hit!  And the Slanket looks very comfy!

And, if you are still working on some party ideas, Debt Kid gives us some good ideas on how to stay on a budget and still have a blast!

Also, as an update, we mentioned Frugal Zeitgist previously regarding the food drive that she put together.  Check out the update on how well it has done so far.

(Photo Courtesy of : kevinrosseel / morguefile.com)

By The Associated Press | MainStreet.com

By ALEX VEIGA AP Real Estate Writer

LOS ANGELES (AP) Environmentally conscious condo and apartment dwellers can’t be blamed for feeling a bit, well, green over those living in detached homes, free to make just about any Earth-friendly renovations they like.

Unless they live in a building with a homeowners association that has embraced the Earth-friendly way, condo owners are decidedly limited by comparison in the range of upgrades they can make to enhance their energy savings.

And renters — often times they’re just lucky if they can get permission to paint, much less rip out flooring, countertops and cabinets.

But that’s no reason not to take advantage of the trove of products that are now on the market to whittle down that carbon footprint, eradicate airborne toxins and beef up the use of recyclables, experts say.

First the basic stuff:

Russell Albanese, president of the Albanese Organization, which has built several green residential high-rises in New York City, says among the first things condo and apartment residents should do to cut their energy costs is toss out their incandescent light bulbs and replace them with compact fluorescent bulbs or LEDs, light-emmitting diodes.

Compact fluorescent light bulbs can range between $4 and up, with many models above $10. LEDs with comparable light output to household lamp incandescent lights are typically around $30.

The next move for condo owners (and for apartment renters, if they can) is use only Energy Star-rated appliances.

Another energy-saver, using programmable thermostats. They can be used to manage when the air conditioning or heat turns on, so that they’re on for less time during the day when the unit is empty.

“It can save you a lot of energy if you’re away from home a lot,” says Jay Hall, a technical consultant for the U.S. Green Building Council, an industry trade group.

Indoor air quality can be a significant problem in residential buildings, particularly for renters whose apartments have carpeting.

Leadership in Energy and Environmental Design-certified filters for air conditioners can help snatch up small particles of dust and other allergens not captured by conventional filters.

A medical grade Hepa air filtration unit that can absorb chemicals and odors and wipe out nearly all airborne particles. Prices of Hepa-rated air purifiers vary, with models typically around $100 and up.

Another way to make the air inside an apartment or condo cleaner is to repaint the walls with low volatile organic compounds, or low-VOC paints.

Many are increasingly available and often don’t cost a lot more than regular paint. Low or no-VOC interior wall paints can run about $36 a gallon, while comparable regular paint are around $20 a gallon.

To help save water, condo owners can try dual-flush toilets (with prices starting around $400) which give users two options on how much water to use per flush.

For those thinking about redoing their flooring have more environmentally sustainable choices than ever, including reclaimed wood, bamboo, cork and natural linoleum, which is made out of flax seed, linseed oil and other biodegradable materials.

Bamboo and cork flooring come in a variety of finishes. They typically start at around $3.50 a square foot, with some styles going for twice that or as low as $2 at some retailers.

Kitchen cabinets can also be redone with similar alternatives to wood, including composite veneer, which can be made to look like exotic woods.

The options for swapping out kitchen counters for more eco-friendly materials now include using recycled bottles and glass recovered from landfills.

Metal, reclaimed wood, and stone are also good alternatives, says Sarah Beatty, founder of New York-based Green Depot, a green home building retailer.

IceStone, one brand of recycled glass used to create countertops for kitchens and bathrooms, generally ranges between $100 and $150 a square foot.

“There’s no longer any type of compromise with these green products,” Beatty said. “They are beautiful, there’s much more of a range, (and) they’re easier as far as installation goes.”

Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.