How to take a great (and cheap!) vacation

Erin Hurson atop a Mayan pyramid in Tikal, Guatemala

NEW YORK (CNNMoney)

Being frugal did the trick for me, allowing me to travel for most of 2013. If it's a priority, you can make it happen. Here's how I did it.

Live cheaply and save: This is the obvious one. In America, it is normal to buy more than we need or use. It feels natural, or even compelling, but is far from necessary.

Recognize the things you can do without and stop buying them. I reduced my spending by downsizing my living space, eating more frugally, and purchasing less nice-to-have stuff.

Set up an automatic transfer to your savings account earmarked for your trip. My goal was 5-10% of my paycheck.

It won't substantially change your life to go without a few luxuries. The experience of travel will.

Travel in cheap countries: The American dollar goes far in many parts of the world. Where you choose to visit can impact your budget and how long you can stay.

It may be more rough and tumble in cheaper countries, but that's part of the fun! I had the time of my life backpacking through Central America for six months on a budget of roughly $50 per day all-inclusive. I encourage you to be open-minded and adventurous about where you choose to go!

When you can, make some money! With limits on vacation time, it is challenging to work a normal job and travel for long periods. Most employers don't offer sabbaticals, yet short-term work that pays well is scarce.

It shouldn't have to be this way. Some travelers I met from other countries had 1 or 2 years unpaid leave with jobs waiting back at home. Let's change our professional culture to honor travel!

Related: Unlimited vacation days and other perks you don't get

But if you don't have that luxury, how can you afford a long vacation?

Taking time off between jobs is one way. Contract, seasonal, or remote work in your field can also provide a paycheck while preserving freedom on a more on-going basis.

Identify your skills that have the highest income potential and industries or companies that might offer greater flexibility.

Every bit you can save matters. While traveling or in between work projects, here's how I supplement my income.

• Part-time casual jobs. These are easier to get and leave but generally don't pay well. Such jobs let me cover by daily cost of living but did not allow me to rebuild my savings.

• Research studies. One of my favorite ways of making extra pocket-money! They are generally interesting and pay well per hour. Check the "Craigslist etc" jobs pages that exist for most major cities.

• Money-making hobbies. I love travel writing and pub quizzes. More often than not my trivia team finishes in the money, paying for a night's worth of beer, food, and entertainment!

Be thankful for the generous support of family and friends: Since returning to the U.S., I have often been fed and housed by people I love. Their support leaves me grateful and inspired.

I pay this kindness back and forward as best I can. How can your support system help you? What broader communities, like couchsurfing, can you participate in?

Be conscious of your money: Once you have money, how do you spend and watch it responsibly? International travel makes money management a little more complex. I use a few financial tools to help.

• Two bank accounts: I have a domestic checking account for most deposits and paying bills. This account works in the U.S., but has high ATM withdrawal fees abroad. I also use Charles Schwab's Investor High Yield Checking Account for travel. This account is blissfully simple: managed online, no annual fee, no account minimums, and you can withdraw money from any ATM in the world for free!

• Two credit cards: I have the Chase Freedom, which offers 1% or 5% cash back. I also have a Capital One for 1.5% cash back. There are no international fees. (Useful!) And it lets you monitor your credit score. (Neat!)
• Keep saving for retirement: Contributing to a Roth IRA as part of your saving activities is a good idea. A Roth IRA can also serve as a last-resort emergency fund. Principal contributions can be withdrawn anytime -- tax and penalty free.

• Stay connected: I watch all of my accounts together using Mint.

In conclusion .. you can do it too! Live frugally at home and abroad, earn money when you can, be aware of your finances, and save save save. Then enjoy the trip of a lifetime. Best wishes to all your bank accounts and happy traveling!

Erin Hurson writes the travel blog, Lady as a Tramp. A version of this story first appeared there.

First Published: August 2, 2014: 8:43 AM ET

21.29 | 0 komentar | Read More

Buffett's $2 billion bounce

Warren Buffett's Berkshire Hathaway has a big bounce in second quarter profit.

NEW YORK (CNNMoney)

His company, Berkshire Hathaway (BRKA), said Friday that its profit grew by nearly $2 billion in the second quarter.

The company, a broad-based investment conglomerate that includes diverse names like Geico Auto Insurance, Burlington Northern Santa Fe Railway, Dairy Queen, Benjamin Moore, Fruit of the Loom, Heinz, and See's Candies, earned a profit of nearly $6.4 billion, up from $4.5 billion during the same period last year.

In the first quarter, Berkshire's railroad operations took a hit from the extreme winter weather that hit much of the nation.

As the nation's housing market has shown signs of improvement, many of the related companies that fall under Berkshire Hathaway's umbrella saw good results.

"Clayton Homes, Shaw industries, Acme Brick Company, Benjamin Moore, Johns Manville all performed well. That's the real story as the recovery works its way through the economy," said Thomas Russo, Partner at investment firm Gardner Russo & Gardner. The firm has nearly $1 billion worth of Berkshire Hathaway shares.

Class A Berkshire (BRKA) shares traded at $188,279 Friday. Shares are up 6.40% this year.

Class B Berkshire (BRKB) shares traded at $125.83, up 6.13% year to date.

First Published: August 1, 2014: 6:01 PM ET

21.29 | 0 komentar | Read More

Is a correction near? Wall Street on edge

NEW YORK (CNNMoney)

The Dow Jones industrial average fell more than 300 points on Thursday, erasing its gains for the year. The S&P 500 fell 2.7% last week, the biggest weekly decline since Jan. 2012.

Now, investors are trying to determine if the sell-off was overdone, or just the beginning of a larger downturn.

It's been more than two years since the S&P 500 had a correction, typically defined as a drop of 10% or more from the most recent high. Despite last week's plunge, the S&P 500 is just 3.1% below its all-time high from last month.

With stocks still relatively expensive, many investors have been waiting for a pullback to buy shares at more attractive levels.

Related: Small stocks sink -- bad sign for economy?

Nick Colas, chief market strategist at ConvergEx Group, a global brokerage in New York, says "there is no way to know right now if this is the beginning of a larger sell-off" or just a temporary blip.

The VIX (VIX), a gauge of market volatility, jumped more than 30% last week. CNNMoney's Fear & Greed Index, which includes the VIX and six other gauges of sentiment, is at a level indicating "Extreme Fear."

Investors certainly have a plenty to worry about.

The conflict in Gaza is unsettling and the showdown between Russia and the West over Ukraine is intensifying. Argentina is another hot spot, though investors seem confident that last week's default won't cause major problems in other emerging markets.

In addition to geopolitical turmoil, investors are debating how the Federal Reserve may respond to the recent spate of strong economic data.

U.S. gross domestic product, the broadest measure of economic output, increased 4% in the second quarter, bouncing back form a winter swoon in the first quarter.

The job market continued to improve in July, though the pace of hiring slowed a bit from June.

Related: Boring bonds beat sexy stocks. Here's why

The Fed is gradually winding down its stimulative policies, and investors have recently become obsessed with trying to gauge when the central bank will eventually hike interest rates. Most economists expect a rate hike will occur in the spring or summer of 2015.

"There is a lot of fear that the Fed's policies and world events will lead to a market crash in the near future," said Keith Springer, president of Springer Financial Advisors in Sacramento, Calif.

While he expects the Fed to remain on hold, Springer said stocks appear headed for a decline of between 7% and 10%.

"For the next few weeks, hunker down," he said.

A big week for media companies: The media sector will be in focus with quarterly reports due from some of the biggest names in the entertainment industry.

Both Time Warner (TWX) and 21st Century Fox (FOX) will report results next week.

Time Warner, the parent company of CNNMoney, rejected an $80 billion buyout offer from Fox, the movie and television company run by Rupert Murdoch, in June. But it is widely believed that Fox will eventually make another bid.

Investors are eager to hear what executives of both companies say about the possibility of a merger when they take questions from analysts after their earnings reports.

Murdoch's other company, News Corp. (NWS), which owns the Wall Street Journal and other newspapers, will also report results next week.

Disney (DIS), which is releasing "Guardians of the Galaxy" this weekend, will report results on Tuesday. It's been a sluggish summer at the box office this year, and investors are hoping that Disney's latest film may get people back in theaters.

Viacom (VIA) and CBS (CBS) are also set to release earnings this week.

First Published: August 2, 2014: 4:52 PM ET

21.29 | 0 komentar | Read More

Buffett's $2 billion bounce

Warren Buffett's Berkshire Hathaway has a big bounce in second quarter profit.

NEW YORK (CNNMoney)

His company, Berkshire Hathaway (BRKA), said Friday that its profit grew by nearly $2 billion in the second quarter.

The company, a broad-based investment conglomerate that includes diverse names like Geico Auto Insurance, Burlington Northern Santa Fe Railway, Dairy Queen, Benjamin Moore, Fruit of the Loom, Heinz, and See's Candies, earned a profit of nearly $6.4 billion, up from $4.5 billion during the same period last year.

In the first quarter, Berkshire's railroad operations took a hit from the extreme winter weather that hit much of the nation.

As the nation's housing market has shown signs of improvement, many of the related companies that fall under Berkshire Hathaway's umbrella saw good results.

"Clayton Homes, Shaw industries, Acme Brick Company, Benjamin Moore, Johns Manville all performed well. That's the real story as the recovery works its way through the economy," said Thomas Russo, Partner at investment firm Gardner Russo & Gardner. The firm has nearly $1 billion worth of Berkshire Hathaway shares.

Class A Berkshire (BRKA) shares traded at $188,279 Friday. Shares are up 6.40% this year.

Class B Berkshire (BRKB) shares traded at $125.83, up 6.13% year to date.

First Published: August 1, 2014: 6:01 PM ET

19.33 | 0 komentar | Read More

How to take a great (and cheap!) vacation

Erin Hurson atop a Mayan pyramid in Tikal, Guatemala

NEW YORK (CNNMoney)

Being frugal did the trick for me, allowing me to travel for most of 2013. If it's a priority, you can make it happen. Here's how I did it.

Live cheaply and save: This is the obvious one. In America, it is normal to buy more than we need or use. It feels natural, or even compelling, but is far from necessary.

Recognize the things you can do without and stop buying them. I reduced my spending by downsizing my living space, eating more frugally, and purchasing less nice-to-have stuff.

Set up an automatic transfer to your savings account earmarked for your trip. My goal was 5-10% of my paycheck.

It won't substantially change your life to go without a few luxuries. The experience of travel will.

Travel in cheap countries: The American dollar goes far in many parts of the world. Where you choose to visit can impact your budget and how long you can stay.

It may be more rough and tumble in cheaper countries, but that's part of the fun! I had the time of my life backpacking through Central America for six months on a budget of roughly $50 per day all-inclusive. I encourage you to be open-minded and adventurous about where you choose to go!

When you can, make some money! With limits on vacation time, it is challenging to work a normal job and travel for long periods. Most employers don't offer sabbaticals, yet short-term work that pays well is scarce.

It shouldn't have to be this way. Some travelers I met from other countries had 1 or 2 years unpaid leave with jobs waiting back at home. Let's change our professional culture to honor travel!

Related: Unlimited vacation days and other perks you don't get

But if you don't have that luxury, how can you afford a long vacation?

Taking time off between jobs is one way. Contract, seasonal, or remote work in your field can also provide a paycheck while preserving freedom on a more on-going basis.

Identify your skills that have the highest income potential and industries or companies that might offer greater flexibility.

Every bit you can save matters. While traveling or in between work projects, here's how I supplement my income.

• Part-time casual jobs. These are easier to get and leave but generally don't pay well. Such jobs let me cover by daily cost of living but did not allow me to rebuild my savings.

• Research studies. One of my favorite ways of making extra pocket-money! They are generally interesting and pay well per hour. Check the "Craigslist etc" jobs pages that exist for most major cities.

• Money-making hobbies. I love travel writing and pub quizzes. More often than not my trivia team finishes in the money, paying for a night's worth of beer, food, and entertainment!

Be thankful for the generous support of family and friends: Since returning to the U.S., I have often been fed and housed by people I love. Their support leaves me grateful and inspired.

I pay this kindness back and forward as best I can. How can your support system help you? What broader communities, like couchsurfing, can you participate in?

Be conscious of your money: Once you have money, how do you spend and watch it responsibly? International travel makes money management a little more complex. I use a few financial tools to help.

• Two bank accounts: I have a domestic checking account for most deposits and paying bills. This account works in the U.S., but has high ATM withdrawal fees abroad. I also use Charles Schwab's Investor High Yield Checking Account for travel. This account is blissfully simple: managed online, no annual fee, no account minimums, and you can withdraw money from any ATM in the world for free!

• Two credit cards: I have the Chase Freedom, which offers 1% or 5% cash back. I also have a Capital One for 1.5% cash back. There are no international fees. (Useful!) And it lets you monitor your credit score. (Neat!)
• Keep saving for retirement: Contributing to a Roth IRA as part of your saving activities is a good idea. A Roth IRA can also serve as a last-resort emergency fund. Principal contributions can be withdrawn anytime -- tax and penalty free.

• Stay connected: I watch all of my accounts together using Mint.

In conclusion .. you can do it too! Live frugally at home and abroad, earn money when you can, be aware of your finances, and save save save. Then enjoy the trip of a lifetime. Best wishes to all your bank accounts and happy traveling!

Erin Hurson writes the travel blog, Lady as a Tramp. A version of this story first appeared there.

First Published: August 2, 2014: 8:43 AM ET

19.33 | 0 komentar | Read More

Is a correction near? Wall Street on edge

NEW YORK (CNNMoney)

The Dow Jones industrial average fell more than 300 points on Thursday, erasing its gains for the year. The S&P 500 fell 2.7% last week, the biggest weekly decline since Jan. 2012.

Now, investors are trying to determine if the sell-off was overdone, or just the beginning of a larger downturn.

It's been more than two years since the S&P 500 had a correction, typically defined as a drop of 10% or more from the most recent high. Despite last week's plunge, the S&P 500 is just 3.1% below its all-time high from last month.

With stocks still relatively expensive, many investors have been waiting for a pullback to buy shares at more attractive levels.

Related: Small stocks sink -- bad sign for economy?

Nick Colas, chief market strategist at ConvergEx Group, a global brokerage in New York, says "there is no way to right now if this is the beginning of a larger sell-off" or just a temporary blip.

The VIX (VIX), a gauge of market volatility, jumped more than 30% last week. CNNMoney's Fear & Greed Index, which includes the VIX and six other gauges of sentiment, is at a level indicating "Extreme Fear."

Investors certainly have a plenty to worry about.

The conflict in Gaza is unsettling and the showdown between Russia and the West over Ukraine is intensifying. Argentina is another hot spot, though investors seem confident that last week's default won't cause major problems in other emerging markets.

In addition to geopolitical turmoil, investors are debating how the Federal Reserve may respond to the recent spate of strong economic data.

U.S. gross domestic product, the broadest measure of economic output, increased 4% in the second quarter, bouncing back form a winter swoon in the first quarter.

The job market continued to improve in July, though the pace of hiring slowed a bit from June.

Related: Boring bonds beat sexy stocks. Here's why

The Fed is gradually winding down its stimulative policies, and investors have recently become obsessed with trying to gauge when the central bank will eventually hike interest rates. Most economists expect a rate hike will occur in the spring or summer of 2015.

"There is a lot of fear that the Fed's policies and world events will lead to a market crash in the near future," said Keith Springer, president of Springer Financial Advisors in Sacramento, Calif.

While he expects the Fed to remain on hold, Springer said stocks appear headed for a decline of between 7% and 10%.

"For the next few weeks, hunker down," he said.

A big week for media companies: The media sector will be in focus with quarterly reports due from some of the biggest names in the entertainment industry.

Both Time Warner (TWX) and 21st Century Fox (FOX) will report results next week.

Time Warner, the parent company of CNNMoney, rejected an $80 billion buyout offer from Fox, the movie and television company run by Rupert Murdoch, in June. But it is widely believed that Fox will eventually make another bid.

Investors are eager to hear what executives of both companies say about the possibility of a merger when they take questions from analysts after their earnings reports.

Murdoch's other company, News Corp. (NWS), which owns the Wall Street Journal and other newspapers, will also report results next week.

Disney (DIS), which is releasing "Guardians of the Galaxy" this weekend, will report results on Tuesday. It's been a sluggish summer at the box office this year, and investors are hoping that Disney's latest film may get people back in theaters.

Viacom (VIA) and CBS (CBS) are also set to release earnings this week.

First Published: August 2, 2014: 4:52 PM ET

19.33 | 0 komentar | Read More

Buffett's $2 billion bounce

Warren Buffett's Berkshire Hathaway has a big bounce in second quarter profit.

NEW YORK (CNNMoney)

His company, Berkshire Hathaway (BRKA), said Friday that its profit grew by nearly $2 billion in the second quarter.

The company, a broad-based investment conglomerate that includes diverse names like Geico Auto Insurance, Burlington Northern Santa Fe Railway, Dairy Queen, Benjamin Moore, Fruit of the Loom, Heinz, and See's Candies, earned a profit of nearly $6.4 billion, up from $4.5 billion during the same period last year.

In the first quarter, Berkshire's railroad operations took a hit from the extreme winter weather that hit much of the nation.

As the nation's housing market has shown signs of improvement, many of the related companies that fall under Berkshire Hathaway's umbrella saw good results.

"Clayton Homes, Shaw industries, Acme Brick Company, Benjamin Moore, Johns Manville all performed well. That's the real story as the recovery works its way through the economy," said Thomas Russo, Partner at investment firm Gardner Russo & Gardner. The firm has nearly $1 billion worth of Berkshire Hathaway shares.

Class A Berkshire (BRKA) shares traded at $188,279 Friday. Shares are up 6.40% this year.

Class B Berkshire (BRKB) shares traded at $125.83, up 6.13% year to date.

First Published: August 1, 2014: 6:01 PM ET

21.29 | 0 komentar | Read More

Oops! Russian soldier Instagrams himself in Ukraine

NEW YORK (CNNMoney)

Alexander Sotkin posted two photos of himself to Instagram from within Ukraine -- one on June 30 and another on July 5. BuzzFeed first reported the story.

Although it's an open secret that Russian soldiers are assisting Ukrainian nationals who are rebelling against the Ukrainian government, the Russian army denies that its troops have crossed the border.

A spokesman for the Russian Embassy said the government does not "make any decisions" or "come to conclusions" based on the social media posts. But the spokesman pointed to a news article in Russia's Life News that claimed the photos were forgeries and the locations of the selfies were falsified.

CNN cannot independently confirm his identity.

Sotkin's Facebook (FB, Tech30) profile describes his role as an instructor at the department of radio communications. He has been active on social networks for months while on duty. His colorful Instagram feed features pictures of himself eating a watermelon. posing with other soldiers and wearing a gas mask.

Related: Europe hits Russia's biggest banks

Another recent selfie caption: "sitting around, working on a buk, listening to music, basically a good sunday"

Sotkin may have been unaware that an Instagram feature called "Photo Map" was turned on when he took the photos. The feature tracks and visualizes when and where users post Instagram shots. Photo Map uses GPS to determine its users' locations, a tool that is generally accurate with 50 feet or so.

The location of his Instagram photos suggests he has been stationed on the Russia/Ukraine border since June 23. He posted 34 photos during that span -- 32 on the Russian side of the border and two on the Ukrainian side. The photos of Sotkin on the Ukrainian side were taken several miles across the border.

First Published: August 1, 2014: 5:11 PM ET

21.29 | 0 komentar | Read More

How to take a great (and cheap!) vacation

Erin Hurson atop a Mayan pyramid in Tikal, Guatemala

NEW YORK (CNNMoney)

Being frugal did the trick for me, allowing me to travel for most of 2013. If it's a priority, you can make it happen. Here's how I did it.

Live cheaply and save: This is the obvious one. In America, it is normal to buy more than we need or use. It feels natural, or even compelling, but is far from necessary.

Recognize the things you can do without and stop buying them. I reduced my spending by downsizing my living space, eating more frugally, and purchasing less nice-to-have stuff.

Set up an automatic transfer to your savings account earmarked for your trip. My goal was 5-10% of my paycheck.

It won't substantially change your life to go without a few luxuries. The experience of travel will.

Travel in cheap countries: The American dollar goes far in many parts of the world. Where you choose to visit can impact your budget and how long you can stay.

It may be more rough and tumble in cheaper countries, but that's part of the fun! I had the time of my life backpacking through Central America for six months on a budget of roughly $50 per day all-inclusive. I encourage you to be open-minded and adventurous about where you choose to go!

When you can, make some money! With limits on vacation time, it is challenging to work a normal job and travel for long periods. Most employers don't offer sabbaticals, yet short-term work that pays well is scarce.

It shouldn't have to be this way. Some travelers I met from other countries had 1 or 2 years unpaid leave with jobs waiting back at home. Let's change our professional culture to honor travel!

Related: Unlimited vacation days and other perks you don't get

But if you don't have that luxury, how can you afford a long vacation?

Taking time off between jobs is one way. Contract, seasonal, or remote work in your field can also provide a paycheck while preserving freedom on a more on-going basis.

Identify your skills that have the highest income potential and industries or companies that might offer greater flexibility.

Every bit you can save matters. While traveling or in between work projects, here's how I supplement my income.

• Part-time casual jobs. These are easier to get and leave but generally don't pay well. Such jobs let me cover by daily cost of living but did not allow me to rebuild my savings.

• Research studies. One of my favorite ways of making extra pocket-money! They are generally interesting and pay well per hour. Check the "Craigslist etc" jobs pages that exist for most major cities.

• Money-making hobbies. I love travel writing and pub quizzes. More often than not my trivia team finishes in the money, paying for a night's worth of beer, food, and entertainment!

Be thankful for the generous support of family and friends: Since returning to the U.S., I have often been fed and housed by people I love. Their support leaves me grateful and inspired.

I pay this kindness back and forward as best I can. How can your support system help you? What broader communities, like couchsurfing, can you participate in?

Be conscious of your money: Once you have money, how do you spend and watch it responsibly? International travel makes money management a little more complex. I use a few financial tools to help.

• Two bank accounts: I have a domestic checking account for most deposits and paying bills. This account works in the U.S., but has high ATM withdrawal fees abroad. I also use Charles Schwab's Investor High Yield Checking Account for travel. This account is blissfully simple: managed online, no annual fee, no account minimums, and you can withdraw money from any ATM in the world for free!

• Two credit cards: I have the Chase Freedom, which offers 1% or 5% cash back. I also have a Capital One for 1.5% cash back. There are no international fees. (Useful!) And it lets you monitor your credit score. (Neat!)
• Keep saving for retirement: Contributing to a Roth IRA as part of your saving activities is a good idea. A Roth IRA can also serve as a last-resort emergency fund. Principal contributions can be withdrawn anytime -- tax and penalty free.

• Stay connected: I watch all of my accounts together using Mint.

In conclusion .. you can do it too! Live frugally at home and abroad, earn money when you can, be aware of your finances, and save save save. Then enjoy the trip of a lifetime. Best wishes to all your bank accounts and happy traveling!

Erin Hurson writes the travel blog, Lady as a Tramp. A version of this story first appeared there.

First Published: August 2, 2014: 8:43 AM ET

21.29 | 0 komentar | Read More

Buffett's $2 billion bounce

Warren Buffett's Berkshire Hathaway has a big bounce in second quarter profit.

NEW YORK (CNNMoney)

His company, Berkshire Hathaway (BRKA), said Friday that its profit grew by nearly $2 billion in the second quarter.

The company, a broad-based investment conglomerate that includes diverse names like Geico Auto Insurance, Burlington Northern Santa Fe Railway, Dairy Queen, Benjamin Moore, Fruit of the Loom, Heinz, and See's Candies, earned a profit of nearly $6.4 billion, up from $4.5 billion during the same period last year.

In the first quarter, Berkshire's railroad operations took a hit from the extreme winter weather that hit much of the nation.

As the nation's housing market has shown signs of improvement, many of the related companies that fall under Berkshire Hathaway's umbrella saw good results.

"Clayton Homes, Shaw industries, Acme Brick Company, Benjamin Moore, Johns Manville all performed well. That's the real story as the recovery works its way through the economy," said Thomas Russo, Partner at investment firm Gardner Russo & Gardner. The firm has nearly $1 billion worth of Berkshire Hathaway shares.

Class A Berkshire (BRKA) shares traded at $188,279 Friday. Shares are up 6.40% this year.

Class B Berkshire (BRKB) shares traded at $125.83, up 6.13% year to date.

First Published: August 1, 2014: 6:01 PM ET

19.33 | 0 komentar | Read More