The Frugal Duchess

Frugal Duchess Moves to WiseBread.com & Starts a Video Channel

2009-10-20T22:15:00.002-04:00

I'm going to the beach because reality has hit like an overdue bill: I need to get more rest and to work smarter. I need to be more frugal with my time.

And for that reason I am relocating to Wise Bread as a steady blogger. I have also helped to launch a frugal video network with Myscha Theriault. Here's why I am changing my online strategy.

"As the founder of the Frugal Duchess blog, I was a one-woman shop, responsible for writing, editing, formatting, designing, ad sales, marketing and networking. That’s a lot of hats for one person to wear, especially given the other roles in my life: mother of three, internationally syndicated newspaper columnist, in-house writer for a large nonprofit, poet and author of The Frugal Duchess: How to Live Well and Save Money, a coming-of-age memoir about money and real estate.

Those duties exhausted me, and I struggled under daily and hourly pressures to update my blog with great content. But as part of the Wise Bread team, I can specialize in the task that I do best: writing and reporting. It’s a better use of my time, and specialization will free up time and energy for other professional and creative opportunities.

The Lesson: To earn more, sometimes you have to do less.

Please visit WiseBread.com to read my full relocation post, where I discuss how joint projects, food co-ops and other community efforts can enhance our lives, bank accounts and creative efforts.

My existing posts at this blogspot (blogger.com) site will remain at this destination: sharonhr.blogspot.com and over the next few weeks, I'll update this page with a list of my favorite posts.

Sincere thanks to all who have read, supported and commented on my blog over the last several years, including my mom and dad, who are loyal readers. Thanks to the fellow bloggers who wrote guest posts and supplied technical or intellectual support. Please join me at Wise Bread, where I will be a regular contributor and an active participant in the Wise Bread forums.

In addition to Wise Bread, you can also catch me at the Posh Frugality Network, where Myscha and I have launched a video channel. Check out Myscha's gin-and-tonic recipe and my organic fruit-olive oil-and yogurt facials.

Thanks!

How to Trim Fat From the Family Budget

2009-09-25T18:39:00.003-04:00

Small changes have reduced electrical charges in my home. On a year-over-year basis, we have used 20 percent less electricity due to two minor adjustments. We have switched most of the light bulbs to compact florescent bulbs (CFLs), an energy-saving option. Additionally, during the day and vacations, we turn off the water heater, a move that generates cool savings.

(photo by Yael Rosenberg)

Those are just a few of the ways of finding additional space in a tight budget, according to the Consumer Credit Counseling Service (CCCS) of Palm Beach County, Fla., and the Treasure Coast. How do you cut the fat if your budget is already lean? A reality check will help you write smaller checks for household bills, according to the folks at CCCS.

"Successful saving starts with a realistic look at how you are spending money now and what changes you can realistically make," said Jessica Cecere, president of CCCS.

For example, consumers can cut electric bills by $50 or more by washing clothes in cold water, using energy-efficient bulbs and installing a programmable thermostat, Cecere said. Here are other recommended changes:

•Trim salon visits. It's possible to save several hundreds of dollars annually with do-it-yourself haircuts, manicures and pedicures. If you're hooked on salon pampering, stretch out visits to the professionals with home-grooming sessions.

•Free movies. Libraries and community centers are a source of free movie rentals. One credit counseling client saved $20 to $40 every month by borrowing movies from the library. Another option: Set up an informal movie library with friends, neighbors and co-workers.

•Review monthly expenses. Periodically review automatic bill-paying charges, credit card statements and other monthly bills. Automatic debits may include gym fees, vacation clubs, publications or other subscription services that you may no longer use, according to CCCS. Scan bills for overcharges and other errors.

•Go green. Energy efficient appliances use less energy and save money over the life of the product. In my home, we were surprised to learn that our old refrigerator and stove were energy hogs. Likewise, a CFL bulb uses 75 percent less energy than a standard light bulb and last 10 times longer, according to the U.S. Department of Energy.

Currency Exchange & Other Tricks to Save More Money

2009-09-21T17:22:00.006-04:00

Currency exchange is a thrifty tool in my home. To save money, my 11-year-old daughter has swapped five single dollars for a five-dollar-bill and has traded up for even larger denominations. She uses the larger bills to preserve capital.

“When I see smaller bills, I think I have more money to spend,” my daughter said, adding that it’s tempting to buy treats with single dollars. “I’m not going to buy a chocolate bar with a $20 bill.”

It’s a numbers game that we all play with our budgets and wallets. In fact, banks, financial planners and marketing gurus have launched a variety of programs built on different savings techniques. Here are a few of my favorite money-saving tricks.

•Loose change: Bank of America has a “Keep the Change Program,” in which purchases made with a debit card are rounded up to the nearest dollar and the difference is transferred from the customer’s checking account into a savings account. My do-it-yourself version of that program is simple. Just toss your loose change into a jar every day and watch the coins accumulate. It’s a painless way to create additional savings.

•Dollar matching: While saving for a home, my brother created an unusual program. For every dollar he spent, he placed 20 percent of the purchase amount into a savings account. That system helped to create a nest egg for his first home. Other savers recover from frivolous purchases with a dollar-for-dollar transfer into a savings account. This dollar-matching strategy discourages careless expenditures and forces you to cut fat from the budget in order to fund the matching transfer.

•Pause button: Whether shopping for clothes or cars, cooling-off periods can eliminate impulse purchases. Some families hit a 24-hour pause button when considering merchandise over a certain dollar amount. I’ve also met shoppers who use the checkout line to debate the necessity of smaller items in their cart.

Related Posts:

10 Creative Ways to Save Money: Bank Survey

6 Ways I Scam Myself into Saving

photo credit: Sharon Harvey Rosenberg

Rosh HaShannah: New Year Greetings From an Ironing Board

2009-09-18T18:10:00.005-04:00

We can iron out past wrinkles in money, relationships and clothing. That's what I learned as I ironed clothing for Rosh HaShannah, the New Year on the Hebrew calendar.

Even if you don't celebrate the holiday, September is still a time of beginnings and renewal, including a new school year, a post-Labor Day cycle on Wall Street and changes in leaf colors.

Long before I converted to Judaism, I always felt a shift in September. Here's what I learned while ironing garments this September.

1. Restoration: Wrinkles can be removed from shirts, relationships and money. The process requires time, tools and enough heat.

2. Execution: It's a cliche. But it's so true: Anything worth doing, is worth doing well. If I'm balancing my checkbook, reading a story to a child or ironing a blouse, it's important to give my best to the moment and the task. We only have the present moment, everything else is an illusion.

3. Housework: Don't overlook the value of housework. Sweeping floors is important. Washing clothes is valuable, and ironing creates value. Household chores represent an investment in our personal space. What's more, the process can create a valuable meditative exercise in humility and patience.

4. Frugal values: It was tempting to go shopping for new clothes for the new year. But time and budget restraints detoured my shopping trips. Instead, I plugged in the iron and pressed dress clothes that were laundered. With the investment of time and heat, all of the garments --including my sons' dress shirts -- looked near-new. I also found shirts, skirts and jackets that I had forgotten about.

5. Pay attention: I burned the thumb on my left hand in a moment of carelessness. My hand was on the iron, but my mind was elsewhere. Likewise, I have made financial and personal mistakes through reckless actions. Time has taught me to pay attention to duties, responsibilities, commitments and my higher self.

Rosh HaShannah is a time of apology. I offer a heartfelt apology to anyone I may have injured through carelessness, thoughtfulness, bitchiness or other moments of insecurity or inconsideration.

6. Do for others: This afternoon, I applied a hot iron to garments for my entire family. It's not enough for me to look pressed and cleaned; my family should also benefit from my work. It's the same with money and health. I enhance my own wealth when I share with my extended family and community. It's not enough for me to have health insurance; it's important that we all benefit from wellness, preventive medicine and cures.

I wish everyone a sweet New Year, filled with healthy new beginnings, universal love and peace. And of course, universal healthcare. L'Chaim...To Life!!

L'Shannah Tovah!

Kiplinger.com: 7 Lessons From the Financial Meltdown

2009-09-16T20:58:00.006-04:00

In this guest post, Kiplinger.com offers 7 Lessons from the Meltdown, including:

"1) Where's the money? You'd better know—literally. The reported $50-billion swindle orchestrated by Bernard Madoff and other fleece jobs should put to rest the notion that you can get rich from unpublicized investment opportunities unavailable to mere mortals. If you give any adviser discretion to buy and sell investments without your prior go-ahead, you must demand to know where your money sleeps.

2) Cash is never trash. True, you'll never get rich earning 1% a year in a money-market fund. But that's no reason to insult a larger-than-usual cash reserve. The beauty of cash in times like these isn't that it protects you from losses in stocks and other stuff, although it does do that. The lure of cash is that it enables you to pick up investments on sale. Gobs of quality stocks fell more than 50% but have now risen substantially in the last six months. You couldn't buy them unless you had some money in reserve.

3) Wild swings over short periods are the new normal. How many times in the past year and a half have the market and sector averages fallen hard one day and soared the next? Or bounced more than 1% up and down several times during the same day's trading? "Fire, ready, aim" describes how traders act today. Don't expect any change soon, if ever.

4) Don't deify those who warned about losses. Few people who get paid to predict the market's fluctuations get it right. However, if you have an adviser who isn't habitually negative but urged you to switch more into cash and Treasuries a year ago, then you should shower him or her with praise. Sending over a nice bottle of wine or a bouquet of flowers would be an appropriate thank-you gesture."

Here's the link: For the other financial meltdown lessons.

Cheap Cleanup: Washing the Stove & Tiles With Vinegar

2009-09-14T23:00:00.004-04:00

You don't have to spend a lot for eco-friendly household and personal care products. I use vinegar and water to sanitize my home without the expense or waste of harsher chemicals. Beyond toss salads, I use white vinegar for the following cleaning duties:

•Kitchen surfaces: With two capfuls of vinegar and a half cup of water, I have cleaned and polished a white enamel stovetop. The homemade solution cut through a mixture of cooking oil and splattered tomato sauce. The same solution works on kitchen countertops and stainless steel sinks. White vinegar also effectively cleans cookware, coffeemakers and carpet stains, according to How to Clean Practically Anything, a reference guide published by Consumer Reports.

•Tile floors and walls: My husband cleaned our white tile floors with a bucket of vinegar and water. He mixed one cup of vinegar per half-gallon of hot water, with a few drops of essential lemon oil. That mixture cleaned the floor and left a fresh lemon scent. I have applied a similar mixture to the bathroom tiles and countertops.

•All-purpose cleaning spray: Earth911.com recommends filling a spray bottle with equal parts of water and white vinegar. Use this solution to clean appliances, countertops and other surfaces. Some restaurants and daycare centers use vinegar and water to clean tables and chairs.

•Hair conditioner: Organic apple cider vinegar (ACV) provides a great hair tonic. Mixed with water, ACV conditions the hair and combats dandruff. As a hair rinse, ACV has left my hair cleaner and softer. The acid in the vinegar removes the buildup left from commercial hair care products and kills bacteria, according to Ehow.com, which recommends mixing one-third cup of apple cider vinegar with a quart of distilled water

Finding My Money Leaks: The August Report

2009-09-11T17:59:00.005-04:00

Yup. I could have saved more and spent less in August. As promised, I paid careful attention to my spending, saving and consuming habits in August. We all have money leaks. Here are my downfalls & solutions:

Lost items: I use paraben-free cosmetics from Origins and Burt's Bees. Unfortunately, while at the zoo with my kids, I lost my favorite lip gloss. I was careless and should have paid more attention. The replacement cost represents money that I could have saved or used for other expenses. My goal for September is to lower or eliminate careless costs.

Expired coupons: As a member of the frequent shopper program at CVS, I often receive coupon offers that are attractive. For example, during the summer, I received a coupon for $5 off a $20 purchase, which would have been perfect for school supplies. But I didn't check the offer date, and the deal expired before I used the coupon. My goal for September is to be more vigilant about deals and deadlines. I also plan to make better use of my calendar by flagging important expiration dates and stashing my receipts in the folder section of my home calendar.

Light check: We have made tremendous progress on our electric bill and have converted our home to CFL bulbs. With the exception of the light bulbs in the display case and the the lava light, my home is illuminated by energy-saving CFLs. However, sometimes when we are rushing out of the home, we have forgotten to turn off lights, the air conditioner the fans. One ceiling fan can cost up to $7 a month if it runs nonstop. My goal: No matter how busy, I plan to double check lights and power before the morning or afternoon rush hours.
Costly delays: I traveled a lot during the summer, including short trips to Pittsburgh and Orlando. Travel specials offered great deals, but I could have spent less if I had not procrastinated. My goal: Book early, save more.
Keep records: My August money leak challenge prompted me to pay closer attention for 30 days. On a scale of 1-10, my attention span hit the mid range of 6-7. I can do better. My September goal: From September 15 -30, I plan to keep an expense journal. With a shorter tracking period, I hope to gather more insights and cut more waste. Watch this space.

Poll: Saving $50 Beats Diets, Love & Time

2009-09-10T22:06:00.001-04:00

If you had a choice between saving an extra $50 a week or gaining an extra hour daily, what would you do? I vote for the extra hour, (seven hours a week). But more money beat out diet, time and sex, according to this recent survey from allyou.com/Shortcuts.com. Here is a snippet from the full survey results:

- Over half (57%) of those surveyed would rather save $50 an extra week

- vs. 31 % who would rather lose one clothing size

- or 6% who would opt for more sex

- or 6 % who would rather have an extra 60 minutes each day.

The Real Bonus

My choice: Please give me another hour every day! With an extra seven hours a week, I would use 33 % of the extra time to earn more money, 33% of the bonus time would be spent relaxing, and I would spend the remaining time with my children.

Here's another nugget from the poll:

"More women (45%) feel better when they’re cutting grocery costs vs. sticking to an exercise regimen (24%)."

Once again, I disagree with that allocation of time. A commitment to an exercise program can yield both long-term savings and better health. Preventive medicine and exercise represent savvy investments of time and money. Consider the cost of obesity.

The Power of Coupon Clipping

"Consumers are changing their spending habits, but not drastically. The survey, conducted by DMS Research with 5,877 respondents (5,250 females and 627 males), uncovered that small changes such as clipping more coupons, are taking precedence over large lifestyle adjustments like driving less or cancelling gym memberships.

Across all categories of spending, more women tend to be tightening their belts than men, cutting back on vacation, spending, and dining out.

The survey revealed:
Almost three-quarters of respondents (71%) are now clipping coupons;

Four in ten respondents (41%) consider treating themselves to something under $49 to be a splurge;

Even in a tough economy, just over one-quarter (28%) of respondents won’t give up purchasing quality items and 17% won’t give up buying their favorite beauty product

'We know how important saving money and saving time are these days, so we aren’t surprised with the findings that something as simple as using coupons – and increasingly, electronic coupons – is on the rise,' said Tara Trocki, director, AOL’s Shortcuts.com. 'This is a testament that using a free, simple service can lead to significant financial savings without having to make a major lifestyle adjustment.' "

Cut Your Beverage Tab at Bars, Restaurants & Resorts

2009-09-08T21:56:00.002-04:00

It's possible to spend less for drinks at bars, restaurants and resorts. Here's my list of do-it-mostly-yourself drink recipes.

Spiked & flavored coffees: At bars, restaurants and resorts you can save a lot by ordering plain American coffee and a shot of Baileys Irish cream liqueur or other liqueurs. One shot of liqueur is good for spiking several rounds of coffee, especially if the establishment offers bottomless cups of coffee. Final ingredient: Tip the waiter or bartender generously.
Virgin drinks: When lounging poolside at a resort, beach or hotel, save money by ordering the non-alcohol version of pina coladas or other mixed drinks. Spike your virgin drinks with your own small bottle of rum or vodka. At one one resort, virgin drinks were $4-5 each, compared to $8-12 for the spiked versions. Note: Only use this recipe at resorts where it's customary for guests to carry DIY snacks, sodas and food. Many resorts have no problem with customers bringing brown-bag treats from hotel rooms, beach bags, the food court or other take-out establishments. Final ingredient: When you order the virgin drinks, be sure to tip the waiter or bartender generously.
Watered down drinks: One area resort serves strong drinks. When I asked for a watered down version, one fellow customer chided me. She told me take the strong drink as-is and to request an extra glass of soda to dilute the original drink. In this fashion, it's possible to create your own two-for-one drink special. Final ingredient: Tip the waiter or bartender generously.
DIY iced tea or iced coffee: Some hotels and resorts offer guests free (hot) coffee and tea bars, with high-end herbal teas and gourmet coffee. At one resort where we were staying, I made a cup of hot passion fruit tea and requested a cup of ice from the bar area. With the ice cubes and the hot herbal tea, I was able to create a tall glass of iced tea at no charge. The same strategy works for turning hot coffee into a chilled-out drink. And of course, it's good karma to tip the bartender for the ice.
Drink water: It's healthier. It's cheaper.

______________

Sharon is the author of the Frugal Duchess: How to Live Well and Save Money -- a coming of age memoir about money -- and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

How to Find Cheap Food at Airports

2009-09-04T18:07:00.001-04:00

Stormy weather delayed my flight plans and prompted me to spend over 10 hours traveling through three airports. My growling stomach felt like extra baggage as I tried to find a frugal meal plan. I fed my appetite without starving my wallet with the following steps:

•Find a drugstore. Many airports have vast shopping malls, which include national or regional drugstore chains, where prices are competitive. At a chain drug store in Pittsburgh International Airport, snacks and beverages were cheaper than comparable items at other shops in the airport mall. For instance, a package of two large peanut butter cookies was 79 cents, compared to prices of $1.50 to $3 per cookie at other vendors in the food court area. Yogurt, iced cappuccino, crackers, nuts and other food items were also good bargains at the drugstore.

•Drink tea. Beverage carts, cafes and specialty stores sell hot coffee and specialty espresso drinks for $3 to $4 per cup. In contrast, from one high-end coffee stand, I purchased a large cup of Earl Grey tea for $1.80. With cream and a dash of cinnamon, the tea was a taste of luxury.

•Go green. Basic green salads are reasonably priced at many airport food courts. Veggie-only salads cost $2 to $4 at fast-food restaurants. What's more, packets of mayonnaise, ketchup and mustard can be mixed with pepper to create French dressing. Ask for crackers.

•Pack food. I often carry small bags of baby carrots, single-serving cans of tuna fish and snacks when I travel. This survival kit becomes valuable when late afternoon travel plans stretch beyond midnight.
———

Sharon Harvey Rosenberg is the author of the "Frugal Duchess: How to Live Well and Save Money" — a coming of age memoir about money — and a contributing writer in Wise Bread's "10,0001 Ways to Live Large on a Small Budget," both available on Amazon.com.

Fixing the Ferret: Lessons From a Faulty Toy

2009-09-02T20:25:00.002-04:00

My daughter fixed her ferret with a foot of fishing string. As such, our story about a defective toy has a happy ending. Our quick repair taught us valuable lessons. Here's what we have learned:

Hit the return button. Why didn't we return the broken toy, asked one reader after reading the original story: Cheated By a Ferret: One Child's Lesson. We have several reasons: 1) We lost the receipt; 2) we trashed the original packaging, and 3) most importantly, we were too annoyed to think of the obvious. Anger can be counter-productive. Anger can be expensive. The faulty ferret should have been returned for cash or store credit.

Be creative: My daughter found inspiration in a piece of clear fishing string, which resembled the original "invisible" string that made the ferret move. From her repair, I learned to think outside the tackling box and to constantly consider ways to find new uses for everyday materials that are around the home.

Repair, recycle, reuse: It's tempting to toss out worn, broken or outdated merchandise, including toys, clothing and shoes. We live in a disposable society, and we're often quick to contribute to landfills. My goal is to find new uses for old items, including an old teapot, worn out socks and old calendars.

______________

How To Give School Lunches Good Grades

2009-08-31T21:24:00.004-04:00

The school year is new, but early grades for brown bag lunches have not been promising in my home. For example, servings of leftover lasagna recently failed the lunchroom test. The pasta tasted great, but looked unappealing in a small sandwich bag, the kids said.

It's a challenge to assemble lunches that are nutritious, tasty and frugal. Aria Kagen, co-owner D'lish, a private chef company, offers these tips:

— Be a cookie-cutter. Update boring sandwiches with interesting shapes. Kagen uses cookie cutters to style sandwiches in to unusual shapes. Even tuna fish or peanut butter can appear exciting when shaped into hearts or stars.

— Invest in containers. Packaging counts, and attractive food containers can upgrade the taste, texture and freshness of school lunches. Kagen recommends purchasing containers in different sizes for hot and cold food, including a thermos for soup. Reusable lunch containers also deliver an eco-friendly lesson plan about recycling.

— Spice it up. Pack a taco shell, re-fried beans, ground meat, sour cream and chili sauce into small, individual containers. With those ingredients, your child can put together a taco in the lunch room.

— Prepare ahead. Fresh vegetables, fruit slices and green salads can be prepared and stored on Sunday night and packed into lunches as needed during the rest of the week. That menu plan will save time and money.

— Add a few flourishes. Kagen uses festive paper napkins decorated with action heroes for her son's lunch. Other families slip in hand-printed notes or hand-decorated napkins into brown bags or lunch containers. "Make it an experience," Kagen says. "It doesn't take a lot of money."

Related Articles

Back to School with 'Zero-Waste Lunches'

Zero Waste Lunches: How to Make Your Own Executive Style Supply Kit

What Airports, Hotels & Places Offer Free Wi-Fi?

2009-08-30T18:19:00.006-04:00

I am trying to fly home to South Florida from Pittsburgh. My flight is delayed due to weather in Atlanta, where I have a connecting flight. But Pittsburgh International Airport has free Wi-Fi, which is making this long delay productive.

Free Wi-Fi is important, and if I have a choice between two airports in a region, I will book the cheapest flights in airports with free Wi-Fi. I am assembling a list: Which airports, hotels, cafes and stores have free Wi-Fi? Please leave a comment, with your travel experiences.

I will also make constant updates.

Aiports:
Pittsburgh International Airport (If you have to be stuck in an airport, this one is great!)
Fort Lauderdale-Hollywood International Airport

Hotels:
Hampton Inn
La Quinta Inns & Suites

Malls & Stores
Shops of the Sunset (Coral Gables, Florida)
Whole Foods
Barnes & Nobles

Restaurants
Dunkin Donuts 41st Street on Miami Beach

Kiplinger.com: 10 Things to Avoid Buying for College Students

2009-08-28T19:01:00.003-04:00

When I was a college freshmen, I wanted to buy every item listed on the school shopping list. But there is no need for parents or students to snap up every item on the shopping list, according to Kiplinger.com’s list of "10 Things College Students Don’t Need." Here's a sample from that list:

"1. New Textbooks. To avoid paying unfathomable new-book prices, see whether your university offers a rental program — or rent from a Web site such as Chegg.com, where you can save up to 85%. Order the book for a one-time fee—for example, about $60 plus shipping for a $180 calculus book—keep it for a semester, then return it with free shipping, or you could buy it. Or, head to the used-book lot. For example, BigWords.com searches the Web for the best prices on used textbooks.

2. Big Meal Plan. Brain food is important, but avoid loading up your child's meal account with enough money to feed the football team. It’s best to start with a low number of meals and see how much your student uses. Many colleges will give you the opportunity to replenish the meal plan midyear. You could also supplement your kid's meal plan with gift cards to the local grocery (or the local pizza joint). Or you can buy gift cards at GiftCertificates.com.

3. A High-End Laptop or Desktop Computer. An inexpensive laptop should meet your student's computer needs. For example, you can buy an Acer Aspire One, which has a 10.1-inch screen and weighs just 2.4 pounds, for less than $300 at Best Buy, WalMart or Target. Be aware, though, that netbooks don't have DVD drives or huge amounts of storage space, so it'll cost extra to get plug-in external drives or memory cards.

4. Printer. Here's what you can save by skipping this unnecessary item: about $50 for a printer, $30 for replacement ink and $9 for a pack of paper. For about $10, your child could buy a flash drive instead, save his 20-page term paper on it and print the paper in the campus computer lab, which you may already be paying for. Some schools include a technology fee in room and board costs—$100 per semester in some cases.

5. Cable TV. These days, you don't have to foot a hefty cable bill when your child can catch the latest movies and TV shows online. http://www.hulu.com/, http://www.veoh.com/ and http://www.fancast.com/ let you download current TV shows for free. The movies offered on these sites are slightly old, but you can get a Netflix DVD-rental subscription for as little as $5 a month. "

The full list of 10 Things College Students Don’t Need.

Kiplinger.com’s Back to School 2009 package

Shopping Alarms About Kids & Money: A Grocery Store Lesson

2009-08-27T11:58:00.002-04:00

An alarm went off when my friend Yael recently paid for her groceries. It was a basic transaction. She paid for the food with a debit card and requested cash back.

However, when her pre-school son watched the exchange of plastic for food and cash, a siren sounded. "Mommy," he shouted. "You won a prize." Alarmed, Yael decided it was time to teach him more about money.

Nationwide, other parents are finding gaps in their children's financial education. For instance, according to a recent T. Rowe Price survey, nearly 60 percent of parents feel as if they should be doing more to school their children about finances. Here are a few lesson plans:

Child labor and allowances: My school-age children get a boost when they earn money from household chores, baby-sitting or lemonade stands, and it's not just about the cash. Earning and managing a few dollars improves their common sense and self-esteem. Such lessons can begin with toddlers, with small chores and rewards.

Shopping trips: Going to the grocery store with children typically leads to higher food bills. But the short-term detour around sugar cereals and other treats can create long-lasting "teachable moments" about unit-pricing, marketing gimmicks and nutrition.

New age tools: The Internet has a wealth of finance games for kids. My daughter, for example, has spent hours at http://www.webkinz.com/ and http://www.neopets.com/, which offer imaginary financial systems in which children earn salaries, build homes and make virtual purchases. The money is not real, but the lessons are valuable. Other sites include: http://www.thegreatpiggybankadventure.com/ and www.ustreas.gov/kids/ (from the Treasury Department).

Old school tools: A game of Monopoly can last for hours with lessons about saving, spending and investing. Over that board game, my kids have become savvy about the value of budgets and delayed gratification. It's not just about paper money or color-coded blocks of real estate.

How To Get Free E-Books

2009-08-25T21:16:00.003-04:00

During a recent bus ride, Jessica Goldstein, a fellow passenger, was staring into her cell phone. But she was not sending out text messages or checking e-mail. Classic literature had bookmarked her attention.

Goldstein, a technical writer, uses her cell phone as an electronic book gadget. She downloads free books through Project Gutenberg, www.gutenberg.org, a nonprofit organization that enables readers to download free electronic copies of books onto desktop computers, smart phones or palm organizers.

"It's like going to the library on a bus," Goldstein told me as she read "Thus Spoke Zarathustra" by Friedrich Nietzche.

Project Gutenberg has a catalog of about 30,000 titles that are available for free. Additionally, the site has affiliate relationships with other sites that offer access to 100,000 free books.

Here are other resources for readers seeking free electronic books to read at home or on the road.

- Barnes & Noble. The company offers a free application that works on smart phones and desktop computers. The app can be downloaded at www.bn.com/ebooks and provides access to free e-books.

- DailyLit (www.dailylit.com) is a service launched by a former Random House editor and a social media guru. Classic titles, such as "Moby Dick," "Pride and Prejudice" and "The Prince and the Pauper" are delivered by plain text e-mails to your computer, cell phone or other handheld devices. Each e-mail has an installment of the book and you pick the frequency of the e-mails. The service also includes a fee-based subscription for new titles, but books in the public domain are free and there are lots of them, including many titles on school reading lists.

Money-Saving Driving Tips for Labor Day Weekend

2009-08-24T21:10:00.004-04:00

If a road trip is on your map for the Labor Day Weekend, consider these frugal, fuel-efficient driving tips from the Drive Smarter Challenge video contest:

"Decrease your speed. Gas mileage usually decreases rapidly above 60 mph. Each five miles per hour over 60 mph is like paying an additional 20 cents or more per gallon for gas.

Drive sensibly. Speeding, rapid acceleration (jackrabbit starts), and rapid braking can lower gas mileage by 33% at highway speeds.

Use cruise control and overdrive gear. Cruise control cuts fuel consumption by maintaining a steady speed during highway driving. Overdrive gear, when appropriate, reduces engine speed, saves gas, and reduces engine wear.

It’s a “drag.” Avoid carrying items on your vehicle’s roof. A loaded roof rack or carrier increases weight and aerodynamic drag, which can cut mileage by 5%. Place items inside the trunk when possible to improve fuel economy.

Turn down the AC. Operating the air conditioner on "max" can reduce mpg by 5-25% compared to not using it.

Avoid idling, which gets 0 mpg. Cars with larger engines typically waste even more gas while idling than cars with smaller engines.

Fill up before returning rental. Rental car companies charge higher gas prices if you don't fill up the tank before returning the vehicle."

Win $5,000 With Frugal Road Tips: A Video Contest

2009-08-21T18:42:00.006-04:00

Want to win $5,000 with your video camera? This announcement offers energy-saving driving tips and a chance to win money and other prizes.

"It's the dog days of August, one of the heaviest time frames for road trips – what with travel to universities across the country combined with the "last hurrah" of summer vacations leading into the Labor Day holiday weekend.

As you capture those road trips for posterity on your camcorder, consider turning them into a fun, two-minute video that can garner extensive exposure on the web and win a $5000 grand prize, VIP NASCAR and Indy race packages, new tires, gift cards, car care guides, and more in the Drive Smarter Challenge video contest -- http://drivesmarterchallenge.org/contest.

The online video contest is a new feature of the award-winning Drive $marter Challenge fuel-efficiency campaign sponsored by the Alliance to Save Energy and 16 other diverse nonprofit, governmental, trade association and for-profit partners.

The contest runs through September 20.

Contest Details

To enter, submit a two-minute (or less) video that illustrates one or more of the Drive Smarter Challenge gas- and money-saving driving and vehicle maintenance tips, including those featured below:

Planning your road trip:

Get a customized map with low gas prices along the route. Getting lost while driving in unfamiliar areas could lead to an expensive waste of gas. Print a customized vacation map that highlights low-cost gas stations along your route using campaign website resources. Or navigate with a GPS system.

Choose the right vehicle. If your family has more than one vehicle, drive the car that gets better gas mileage if possible.

Watch the clock! When possible, drive during off-peak hours to reduce gas costs and stress by avoiding stop-and-go or bumper-to-bumper traffic conditions.

Check out other travel options. Consider trains, buses, or public transportation to your destination when possible. Explore new ways to get around at your destination. Find information on biking, public transportation routes, car sharing, walking, and renting hybrid or fuel-efficient vehicles on the Drive $marter Challenge website resources page.

Before you leave: maintenance tips

Inflate your tires. Keeping your tires properly inflated improves gas mileage by around 3%.

Select the right oil. Using the manufacturer’s recommended grade of motor oil improves gas mileage by 1 to 2%. Motor oil that says “Energy Conserving” on the API performance symbol contains friction-reducing additives. Change your oil as recommended to extend the life of your vehicle.

Tune up. Fixing a car that is noticeably out of tune or has failed an emissions test can improve its gas mileage by an average of 4%."

Coming next: Saving money on the road.

Sales Clerk Offers Inside View: 'We're Supposed to Befriend Kids'

2009-08-18T21:30:00.004-04:00

Do some sales clerks try to pal around with tween shoppers in an effort to get the kids to spend more money? Yes, says one reader, a sales clerk, who offers a great reply to the post: Telling My Daughter the Truth about Her New 'Friend,' The Salesclerk!

Here's one sales clerk's story:

I was hired about a month or so ago at a 'tween clothing store, and I've come to find it not so much my cup of tea. We're supposed to make "friends" with the girl and adult, or the girl[s], and try to sell them as much stuff as we can, by talking to them, or even looking at what they have, and bringing more stuff that matches/accessorizes/looks similar, and show it to them and so on.
I find it uncomfortable, personally, because while I love kids, and enjoy talking to the few people who are very friendly, I'm only supposed to be friendly enough to make the sale and make more sales while doing it, and that in itself makes me feel fake, seeing as we're supposed to make the store feel like a second home to the girls, but yet simply see them as consumers and a goal of how much money we can get them to spend?
I personally would get quite irritated with a sales person bringing me loads of stuff, and always have been that way, so I have a hard time seeing how so many people could like someone following them & constantly foisting things on them.
Just my rambling thoughts after an exhausting day at work.
-- written by MVanity

Thanks to MVanity for providing such a thoughtful comment. (@ MVanity: You make great points, and I appreciate your insider's view. Thanks for taking the time to write!)

As a shopper, I'm in the same bag as MVanity. I also get annoyed when I'm tracked through a store. But my pre-teen daughter can be flattered by the attention.

Guest Post: Consumers Union: Beware of Prepaid Card Pitfalls

2009-08-14T19:19:00.006-04:00

Consumers Union, publisher of Consumer Reports, offers this guest post on the dangers of prepaid cards:

"While prepaid cards are becoming an increasingly popular alternative to check cashers and traditional bank accounts, a new Consumers Union report finds that the cards come with high fees and don’t offer consumers the same kinds of protections as other forms of plastic payment.

Prepaid cards are reloadable cards that can be used to make payments similar to debit cards and are becoming the foundation of a second tier banking system used by a growing number of low income consumers.

Here's a link to the full report about prepaid cards.

“Consumers using prepaid cards end up paying a mountain of costly fees that can add up quickly and undermine their finances,” said Michelle Jun, staff attorney for Consumers Union. “Prepaid cards are being marketed aggressively, so it’s important for consumers to understand the hidden costs and how these cards might leave them vulnerable if lost or stolen.”
Prepaid cards are a growing business and usually bear a network logo such as Visa or MasterCard and often have the word “debit” printed prominently on the front of the cards. The Federal Reserve estimated that 312 million transactions were made with pre-paid cards in 2006 for a total value of $13.3 billion.

Consumers Union reviewed the terms and conditions of 18 different prepaid cards and found that consumers face multiple fees and other costly “gotchas’:

Activation Fees: 17 of the 18 pre-paid card issuers reviewed charged consumers a fee for activating their cards. These activation fees ranged from a low of $3 for the Walmart Money Card to a whopping $99.95 to apply for and initiate the Millenium Advantage card.

Monthly Fee: 15 of the 18 pre-paid card issuers charged monthly fees ranging from $2.95 per month for the FinanSe card to $10 per month for the Rush Card. Most pre-paid card issuers will waive the monthly fee if a direct deposit is set up. Some card issuers will waive the monthly fee if the consumer chooses the “pay as you go” option.

Fees to Get Cash: All 18 card issuers reviewed charged fees for withdrawing cash from ATMs in the U.S. On the low end, the FinanSe, SVC Revel, and Espree cards charge $1.50 per withdrawal. The NetSpend Visa card charged the highest fee – up to $2.50 for each withdrawal. Charges are usually even higher for international withdrawals.

Balance Inquiry and Statement Fees: 17 of the 18 card issuers charged fees for checking balances at ATMs, ranging from 50 cents to $1. This does not include any additional fee charged by the ATM owner.

Customer Service: Most pre-paid card issuers provide free customer service, but consumers using the Millenium Advantage card will be charged $1 per minute when they call customer service, while users of the Espree card will pay $3 for each customer service call. Some pre-paid card issuers charge customer service fees after a limited number of free calls.

Fees for Inactivity: Eight of the 18 card issuers charged fees when cards are not used after a certain period of time. These dormancy fees range from $1.95 per month for the Rush Card (after 90 days of inactivity) to $9.95 per month for the Exact card.

Overdraft Fees: A number of prepaid card issuers claim that they do not charge fees when users spend more than the available amount on their cards. However, Consumers Union found that 10 of the 18 cards it reviewed included overdraft or “shortage” fees. These range from $24.90 charged by Espree for overdrafts to $29 charged by Eufora and AccountNow.

Routine use of prepaid cards can result in significant costs for consumers as all these fees add up. For example, Consumers Union found that a consumer using the Rush Card’s pay as you go program who made three ATM withdrawals, three bill payments, eight point of sale purchases and two deposits would be charged $43.75 for the first month in fees.

Less Protection
When prepaid cards are lost or stolen and used by others to make fraudulent transactions, consumers are not protected by the same regulatory and statutory safeguards that enable other debit card users to recover their money. If a consumer contacts a card issuer about a lost or stolen debit card within two business days, the consumer’s liability is limited to up to $50 (or up to $500 if the consumer reports the debit card lost or stolen after two business days). By contrast, prepaid cards may only have voluntary protections that could be revised or rescinded at any time for any reason.

Credit Building
Some prepaid cards claim to provide consumers a way to build a credit record or include a credit line feature. However, Consumers Union found that the prepaid card issuers may report “credit building” activity to an alternative, less used credit reporting agency or may report only the payment of the card’s high monthly fees. The credit line feature may provide credit which is as expensive as costly overdraft loans and payday loans.

Security
Finally, consumers with traditional bank accounts have peace of mind that their money will not be lost as long as their bank is FDIC insured. But consumers who use prepaid cards have no guarantee that they will be able to recover all their money in the event of a bank failure because the funds may not be insured by the FDIC. "
--Source: Consumers Union

Thrifty Reader Seeks Help: Spoiled Kids & Too Many Yard Sales!

2009-08-13T00:03:00.003-04:00

What do you tell a thrifty mom who thinks her kids are spoiled? That scenario recently landed in my e-mail box. Here's the note:

Hi, I am concerned because I finally realized how spoiled my kids are. I've been buying them whatever they liked, although it's from thrift stores and yard sales. Because it's so cheap, I get them more than five things.
I find my 8-year-old son being un-appreciative, unresponsible and rude, and I think this could be why. Now the house is full of toys, and I don't know where to start. How to unspoil? I am overwhelmed. Do you know what I should read? How do I start, please?

Please chime in with tips, links and resources. Thanks!

Free Family Entertainment: Watch the Sky Tonight

2009-08-11T18:31:00.000-04:00

We're hitting the roof tonight for an evening of free family fun. There's going to be a meteor shower, and it won't cost a thing to share the skylights with the kids. But how can you get the most fun and education from the evening? For answers and insights, I turned to David Dickinson from Astroguyz: http://www.astroguyz.com/

"Stargazing," says Astroguyz, "is a completely free hobby. When I was a kid, we would all lay out on the lawn and watch the Perseid."

The Perseid Meteor Shower: a Q & A with Astroguyz.

"When will I be able to see the Perseids?

The Perseid meteor shower is the most well-known and dependable shower of the year; typically, 60 to 100 meteors are seen, silently streaking through the sky. This year, however, there is evidence that we may see rates as high as 200+ per hour centered around 4 a.m. EDT on Wednesday, August 12. A day or two prior or after may be worth watching as well; meteor streams are notoriously unpredictable.

Early AM is always the best time to watch, as the Earth faces forward into its orbit after midnight. Folks can starat watching after sunset, but the best results will be in the early morning. I'll probably try to get up 4 a.m. to 5 a.m. and see what I can see.

By the way, 4 a.m. will be the peak on the east coast and 2 a.m. is the predicted peak for the west coast.

What are they?

The Perseids are tiny remnants of the comet Swift-Tuttle. As it sheds material into a
stream about the sun, the Earth periodically sweeps through its wake. Dozens of comets and trails have been identified; we just happen to sweep through the Perseid trail in mid-August. Most Perseids are dust grains; even those big, bright fireballs you see are probably not much larger than pea-sized!

What will I see?

Scanning the skies will probably yield a meteor or so a minute at the shower's peak;
keep in mind that the quoted rate of 200+ an hour is an ideal rate, assuming no light pollution and a radiant that is directly over head. This year, a bright moon might prove to be a negative factor. The farther north you are, the higher in the sky the radiant will be. Also, one viewer alone cannot cover the entire sky at once; several viewers facing different directions will up your odds for success.

Is this a unique occurrence?

No; the Perseids are only the most dependable annual shower of the year.
One shower, the Leonids, occurs in mid-November and is capable of large outbursts every 33 years. The great Leonid storms of 1833, 1966, and 1998-9 were some of the greatest shows in astronomy history!

Do I need a telescope?

No, meteor showers are one event that can be enjoyed with the naked eye.
Counting and recording what you see in a given interval can even yield useful scientific data, as the modeling of meteor streams is still not completely understood. Clouded out? You can even listen to meteors via FM radio or the Internet.

In any event, its always worth looking for yourself; you never know what you might see!"
--David Dickinson, astroguyz.com

Other frugal sky-watching tips: Grab popcorn, chopped veggies, lemonade or other beverages. My friend Myscha recommends finding a lawn chair with a reclining back. You'll get support and comfort while stargazing.
_______________
Sharon is the author of the Frugal Duchess: How to Live Well and Save Money -- a coming of age memoir about money -- and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

Cheated By a Ferret: One Child's Lesson

2009-08-05T22:17:00.009-04:00

My daughter feels cheated by a six-inch stuffed ferret, which recently took a $4 bite from her allowance. But I believe the furry ferret provided a long-term investment in my daughter's financial education.

The back story: While shopping at a national chain store, my 11-year-old daughter stopped to watch an in-store infomercial, which featured an endless loop of a toy ferret executing tricks. On the screen, the toy looked so cute. "It had this invisible string," my daughter explained.

"The commercial showed it doing all these cool tricks and stuff," she said, adding that the ferret was tied to the transparent string that seemed invisible from a distance.

The reality: "The string broke the first time I tried using it," she said. "The ferret worked much better in the commercial."

Her $4-plus-tax lesson: "Commercials aren't always true."

As a parent, I learned the following lessons:

Children (even teens and tweens) need adult supervision in stores.

No matter how savvy you think your kids are, there's always more to teach and more to learn.

Kids need decoders for advertisements, promotions and retail offers. Don't assume that your kid understands that strings are always attached. Something that is transparent to you may be a complete mystery to kids with money.

It's important to let kids make minor shopping and spending mistakes with their money. In the ferret situation, the financial penalty delivered more value than any lecture I could have offered.

______________

State-by-State Guide to Tax Holidays - A Guest Post From Kiplinger's

2009-08-03T21:20:00.004-04:00

"Sixteen states and the District of Columbia will let you skip sales taxes on school supplies, computers, clothes and other merchandise on specific dates in August. Perhaps you’ll have to cross state lines to save an extra 5% to 10% -- but the journey is worth it.

Kiplinger.com and Kiplinger’s Personal Finance magazine have put together a list of sales tax holidays, which begin in August. Here is the state-by-state guide, which includes tax holidays during other parts of the year.

Alabama
* When: August 7-9
* How much: 4%
* On what: Clothing less than $100, computers less than $750, school supplies less than $50 and books less than $30

Connecticut
* When: August 16-22
* How much: 6%
* On what: Clothing and footwear less than $300

District of Columbia
* When: August 1-9 and November 27 through December 6
* How much: 5.75%
* On what: Clothing, footwear and accessories less than $100

Georgia
* When: July 30 through August 2
* How much: 4%
* On what: Clothing and footwear less than $100, personal computers and accessories less than $1,500 and school supplies $20 or less

* Georgia shoppers also will save October 1-4 on energy- and water-efficient products.

Iowa
* When: August 7-8
* How much: 6%
* On what: Clothing less than $100.

Louisiana
* When: August 8-9
* How much: 4%
* On what: The first $2,500 of any purchase

Mississippi
* When: July 31 through August 1
* How much: 7%
* On what: Clothing and footwear less than $100

Missouri
* When: August 7-9
* How much: 4.225%
* On what: Clothing $100 or less, school supplies less than $50, computers less than $3,500 and software less than $350

New Mexico
* When: August 7-9
* How much: 5% to 8.5625%
* On what: Clothing less than $100, computers less than $1,000, other computer equipment less than $500 and school supplies under $15

North Carolina
* When: August 7-9
* How much: 7%
* On what: Clothing less than $100, school supplies less than $100, instructional materials less than $300, computers less than $3,500, computer supplies less than $250 and sports equipment less than $50

North Carolina shoppers also will save November 6-8 on Energy Star products.

Oklahoma
* When: August 7-9
* How much: 4.5%
* On what: Clothing and shoes less than $100

South Carolina
* When: August 7-9
* How much: 6%
* On what: All linens, school supplies and clothing, accessories and footwear

Tennessee
* When: August 7-9
* How much: 8.5% to 9.75%
* On what: Clothing less than $100, school supplies less than $100 and computers less than $1,500

Texas
* When: August 21-23
* How much: 6.25% to 8.25%
* On what: School supplies and clothing and footwear less than $100

Vermont
* When: August 22
* How much: 6%
* On what: All purchases less than $2,000

Virginia
* When: August 7-9
* How much: 5%
* On what: School supplies less than $20 and clothing and footwear less than $100

And October 9-12, Virginia shoppers will save the state sales tax on Energy Star and WaterSense products less than $2,500.

West Virginia
* When: September 1 through November 30
* How much: 6%
* On what: Energy Star products less than $5,000 "

--Source: Kiplinger.com

Spend Less for School Supplies: Price-Matching Tips & Other Strategies

2009-08-02T11:56:00.004-04:00

Back- to-school budgets are taking a hit this year. The average family will spend $548.72 for school supplies, down 8 percent from last year's average tab of $597.74, according to the National Retail Federation. We can cut costs even more with a few strategies.

"Advanced planning, careful shopping and a little research can go a long way in helping you stay within your budget," said Jessica Cecere, president of Consumer Credit Counseling Service (CCCS) of Palm Beach County and the Treasure Coast. Here are a few tips:

Shop at home. Before going to the mall or shopping online, take stock of the supplies in your home. There may be usable supplies from past school years. My home stash includes binders, almost-new spiral notebooks and pencils.

Use your ZIP code. Visit a store's Web site and type in your zip code to find deals in your neighborhood. In my neighborhood, back-to-school specials include a set of four glue sticks for 20 cents, compasses for a nickel each and packages of ruled index cards for a quarter each. Web sites also offer coupons that can be printed and used in local stores.

Create a clothing exchange. Have a back-to-school party. Party favors include bags of outgrown school uniforms and fall clothing, which can circulate during the party or within a circle of friends. Your cast-off clothing could fill a gap in another family's school wardrobe. It's an easy way to save money and to recycle.

Check out the dollar store. Some "dolar"r stores sell school uniform pants for $5 a pair. Other dollar stores sell pencils, notebooks and crayons. Local consignment shops and thrift stores may also have back-to-school sections with bargain prices, according to Consumer Credit Counseling Service.

Go to school. As a fundraiser, our local PTA sells school supplies at competitive prices. These sales can save time, money and gas. Some PTAs, for example, will bundle and package a complete set of supplies based on a class list or let you browse through their supplies.

Study price-match policies. Office Depot, OfficeMax and Staples have price-matching policies, and if you bring in a flyer with a lower price from a competitor, those stores will match other advertised prices.

related articles:

Spring Cleaning Uncovers Fall School Supplies

Last-Minute Back-to-School Shopping Tips: FamilyCorner.com

Back to School with 'Zero-Waste Lunches'

_____________________________________

Sharon is the author of the Frugal Duchess: How to Live Well and Save Money -- a coming of age memoir about money -- and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

Pick a Savings Sacrifice: An August Challenge

2009-07-31T11:40:00.005-04:00

Is there fat or folly in your budget? During the next month, I'm going to carefully examine my spending habits and make a list of areas where I could cut back and save more. It's my August challenge. During the first week of September, I'll publish my areas of weakness and opportunities for increased savings.

The ritual of saving should be sacred during a recession. A survey from Women & Co. shows that "affluent women cited regular savings as one of their smartest financial moves."

Below are some decent savings tips from Women & Co. My favorite is the "savings sacrifice," which involves reflection, honesty and discipline.

"Take a snapshot of your finances. Saving requires you to analyze, plan, organize and evaluate. But first, you need to know the current state of your finances. Start by downloading Women & Co.’s helpful worksheet.

Set savings goals. Slice and dice your savings needs, first into long-term (e.g. retirement) and short-term (e.g. home repairs) goals. Then you’ll be able to better decide how to allocate your money to help you reach them.

Make a “savings sacrifice.” Track your expenses carefully for an entire month and then evaluate them. Are there services or products that you don’t use or can stretch between uses, like visits to the salon or dry cleaning? You may have to make a lifestyle sacrifice for a limited period until you meet your goal.

Save some money monthly. Automatically put a set amount – no amount is too small – of every paycheck in your savings account. Immediately deposit unexpected income such as birthday checks or garage sale proceeds.

Establish an emergency fund. Aim to accumulate enough to cover 3 to 6 months of living expenses at a minimum. Determine as a household what defines an “emergency.”

Pay down debt. It doesn’t make much sense to scrimp to put money into emergency savings if you are carrying high-interest debt. Put money toward paying down this debt first, while still adding as much as possible to your emergency fund.

Invest in your future – before your child’s. If you can’t save for both college and retirement, save for your retirement first. There are other options to fund college – grants, loans, scholarships, etc. – but none for funding your retirement.

Stay up-to-date and involved. The lives and financial needs of women are unique, and can potentially impact our retirement, Social Security benefits, and healthcare expenses. Continue to build your knowledge about your finances and stay up-to-date on the key issues impacting your savings plan. Actively seek out the financial information you need."
--source: Women & Co.

Frugal Thrill Rides for Last Days of Summer: Low-Cost Vacations

2009-07-27T08:00:00.001-04:00

Between seasonal discounts and neighborhood promotions, my kids are staying busy this summer -- and we're saving money. Here's how:

• Theme parks: Seasonal promotions are available to Florida residents at Busch Gardens, Disney World, Universal Studios, Sea World and others. At Busch Gardens, we purchased two-day passes for the price of a single day -- and tapped into additional savings by taking advantage of an online-purchase offer from AAA. Our cost worked out to $30 per person per day compared with the full price of $70 a day for adults and older children. Other parks have comparable deals.

• Local passes: Through Sept. 30, Miami Metrozoo, Miami Seaquarium and Wannado City offer a combined Summer Savings Pass that offers unlimited admission to all three for $20 per person with the purchase of a general admission ticket at any one.

• Summer reading: With school just weeks away, a visit to the library is a frugal way to get going on required reading for school-age children. In my house, we're counting pages and creating a reading log to avoid a last-minute literary crunch.

• Indoor malls: Through August, Dolphin Mall is hosting a Summer Fun Celebration with a changing calendar of activities for families. Summer events at Aventura Mall include storytelling, character days and an indoor playground. Check for similar activities at the shopping center nearest you.

• Public parks and recreation centers: From free movie nights to low-cost eco-tours, local parks and recreation centers offer no-cost or low-cost family entertainment. Our youth center, for example, has ice skating, swimming and bowling at budget-friendly rates.

• Friends and family: During a recent five-day trip to Tampa, we saved $500-$1,000 in lodging and meal expenses by staying with friends. We're lucky to have accommodating family in the Orlando area, too. We give our hosts gifts, consideration and reciprocity. In fact, our Tampa friends plan to stay with us when they visit South Florida.
______________

To Shred or Not To Shred? Paper Management Tips

2009-07-25T21:29:00.005-04:00

When should you shred old bills, financial records and other documents? Consumer Credit Counseling Service (CCCS) of Palm Beach County and the Treasure Coast offers these tips for managing the paper trail of home documents.

Out with the Old

"Do you really need to keep that water bill from 1998? How about your tax returns? Keeping good financial records is a critical part of managing your household finances, and spring cleaning is a great time to review them, purging what you no longer need. These records can help you ensure timely payment of bills and avoid late fees, dispute errors on credit card statements, apply for retirement or disability benefits, file insurance claims, and more. Bankrate has an excellent table that summarizes how long to keep financial records.

Here is a summary:

Keep any tax-related records for seven years.

Keep records of IRA contributions permanently.

Keep quarterly retirement/savings plan statements until you receive an annual statement. If the numbers match, shred the quarterlies and keep the annual summaries permanently.

Shred unimportant bank records after one year; keep the rest permanently.

Keep brokerage statements until you sell the securities.

Most of the time you can shred bills once you get a cancelled check. Keep bills for big items permanently.

Keep credit card receipts to reconcile with your statements; then keep the statements for seven years.

Paycheck stubs should be kept until you receive your end-of-year tax statements.

Keep house records permanently.

Don't just throw away statements and other records you no longer need to keep. Discarded financial records are a prime target for identity thieves, who look for account numbers and personal information to use. Purchase an inexpensive cross-cut type shredder and make sure it is conveniently located so that you will use it-like right next to your garbage can.

Shred all documents that contain personal or financial information, including credit card offers and receipts.

Review your insurance coverage-Review your life insurance policy to ensure it provides adequate coverage for your family. You can also save money by raising your deductibles on auto and homeowners, or renters, insurance. Every several years, shop rates, comparing policies point for point.

In with the New

Start by evaluating your current financial health-log on to CCCS and take the 60-second financial health exam. It will help you assess your financial risk and get a realistic picture of your current spending habits.

Create a system, and stick to it- You can organize your records in a filing cabinet, in hanging folders, or some other system, but choose one that works for you so that you will use it.

Develop a spending plan-Outline how you will spend, and save, your money. In addition to regular monthly expenses, such as housing, utilities, groceries, and insurance, you should also plan your spending for things like entertainment, lunches out, haircuts, and an occasional luxury. As rising gas prices continue to account for more of your monthly expenses, reduce spending where you can, such as eating at restaurants and your daily purchase of premium coffee. Don't forget to plan your savings too. If you have a spending plan, you are more likely to stick to it.

Track your income and your expenses-Use a calendar to note when you will receive income and also record when bills are due. Avoid late charges and unnecessary finance charges by paying bills on time. If you are mailing your payments, allow at least a week for them to arrive. If you pay on-line, be sure to adhere to deadlines by your bank or creditor to ensure payments arrive on time.

Record all spending, not just bills-That daily trip to the coffee shop, the few dollars you spend on lottery tickets, your highway tolls, and other "forgotten" expenses can quickly add up to hundreds of dollars each month and can stand between you and financial freedom.
Tax Organization-Start a tax folder for 2009 and start gathering information that will help reduce your stress at tax time. Include receipts for charitable gifts and out-of pocket medical expenses, documentation of work-related expenses like travel/mileage if not reimbursed, educational or child care costs, etc."

Source: CCCS

_______
Sharon is the author of the Frugal Duchess: How to Live Well and Save Money -- a coming of age memoir about money -- and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

Be Green. Forget Race: Consider Police, Gates & Customer Service

2009-07-24T13:55:00.010-04:00

If you’re puzzled by the fallout from the conflict involving Harvard Professor Gates and the Cambridge police, forget about race, politics and racial-profiling. Instead, view the situation as if it were a business or shopping scenario. Forget about black-and-white issues. Let's be green* --as in money.

Be honest: What would happen if you were mistakenly accused of shoplifting in a grocery store? Bottom line: The store would apologize. Here's why:

Consider this scenario: You are shopping at a grocery store. A fellow customer suspects you of shoplifting and reports those allegations to store security.

The situation looks suspicious. You have been spotted cramming food packages into a bag. It looks bad.

The reality: Prior to arriving at the store, you had purchased items at another store. In the second store, you were comparing ingredients to make sure your new purchases will match the other items.

Bottom line: The situation looks suspect, but you have a valid explanation.

Security officer: Doing his or her job, the officer confronts and arrests you. Eventually, the situation is resolved when you produce receipts and match the “suspected merchandise” with the legitimate documentation.

The fallout: In the meantime, tense words are exchanged. Both sides – the customer and store security – get belligerent and angry. It’s not pretty. We won't even talk about race. Let's stay green.

The smart Customer Relations strategy: However, at this point, either the store manager or the security officer realizes that a serious mistake launched the entire scenario. As the well-meaning, but misdirected agent of the mistake, it’s the store’s obligation to diffuse the situation. That was not done in Cambridge.

The Green Solution: The customer has been wrongly accused. In a savvy mode, the store apologizes. The officer apologizes. The wrongly accused accepts the apology and apologizes for the subsequent belligerent tone.

Everyone moves on. And that’s what happens when you remove race from the situation.

The Cambridge Police made a mistake. We all make mistakes. For the police, there’s a civic obligation to acknowledge that a mistake – however well-intended -- occurred.

It’s not (just) about race.* It’s about good customer service.

*Edited to add: It's not JUST about race. The above scenario was created to show that even if we remove the racial element from the story, the Cambridge Police Department erred.

News Roundup:

From CBS News: Schieffer on the Real Teachable Moment

From Chicago Tribune: Gates saga is familiar fear for blacks

From Wall Street Journal: Aide Says Obama’s Expression of Regret Is ‘Having Desired Effect’

From Washington Post: Analysis: Race is daunting challenge, opportunity

_______

Kiplinger's Monthly Guide to the Best Sales: When to Buy Stuff

2009-07-22T21:54:00.001-04:00

To get the best deals, you've got to know when to shop, according to the folks at Kiplinger's Personal Finance. Some purchases are difficult to time perfectly, such as stocks, airplane tickets and gas. But many other consumer staples—from cars to electronics to produce—go on sale predictably at certain times of the year. To help you plan your purchases (and save a bundle), Kiplinger.com has developed a Month-by-Month Guide to Best Bargains.

JULY:

· Furniture. New furniture hits showrooms in August, which means you can save 10% to 50% in July as retailers make room for the new inventory

· Broadway tickets. The official Broadway season kicks off in the fall, so summer is a good time to see the outgoing year's hits at cheaper prices. Look for discounts of up to 50%. Not in the Big Apple? Check out your city's consolidated ticket booth to snag a last-minute deal on theater admission year-round.

AUGUST:

· Patio furniture. Buy outdoor furniture in August as summer wraps up and retailers clear out their inventory. You'll still have a couple months of nice weather to enjoy your purchase — not to mention you'll be ready for next year. Retailers usually start marking down pieces around July 4, but the big discounts (up to 50% off) roll in during August.

· Outdoor toys. August is the best time to buy swimming gear, swing sets, beach toys and other items for outdoor fun as retailers make room on their shelves for fall and winter merchandise. Look for discounts of 30% to 75%.

· School and office supplies. Even if you don't have a student in your household, you can benefit during the back-to-school shopping season, when retailers offer some of the year's lowest prices on pens, pencils, paper and notebooks. You can also find bargains on staplers, printer paper, file folders and other home-office necessities.

· Swimwear. The August/September back-to-school shopping season is also a great time to buy swimwear. Families' minds—and wallets—shift from summer to fall, so retailers clear out bikinis and replace them with coats.

ALL SUMMER LONG:

· Produce. From strawberries and peaches to tomatoes and corn, fruits and vegetables abound in June, July and August. This glut of supply makes for a good time to stock up. You can freeze, can or dry the bounty for eating in the leaner months ahead. See www.fruitseasons.com/ to find out what's in season. --source: Kiplinger.com

Here's the complete month-by-month buyer’s guide.

Delivery Charges, Massages & Other Ways to Earn Cash at Yard Sales

2009-07-21T09:03:00.001-04:00

Sell food, set up a massage chair or display crafts. There's more to garage sales than second-hand merchandise, according to Kathryn Vercillo, of the Money Saving Blog. In this guest post, she offers suggestions about making extra money at yard sales.

Making Extra Cash at the Yard Sale

The most efficient yard sales are those that allow you to make easy cash with some bonus sales. In addition to selling your junk, you might offer the following items for sale:

• Beverages. It’s cheap to make lemonade or iced tea and people will be happy to pay you for a glass on a hot day.

• Snacks. You may consider buying some snacks in bulk and selling them for a markup during your sale.

• Crafts and artwork. If you’re crafty or artsy, then you may want to make some items for the sale. I know one artist who threw a bunch of her old Polaroids in a box and listed them for $1 each; a surprisingly large number of people bought some of these on a whim at her yard sale.

• Delivery charge. If you have large items available for sale then you may let people know that you’d be happy to deliver the item to them at the end of the day for a small fee.

• On-site services. Are there any services that you can provide to people who are at your place? For example, massage therapists may set up a chair and offer 15-minute massages for a fee.

• Future services. If you operate any type of business or provide any services, then make your brochures and business cards available during the sale. You just never know who might see them and want work from you down the line.

--written by Kathryn Vercillo of the Money Saving Blog, which was named one of the Top 20 British personal finance blogs earlier this year.

Related articles:

How to sell crafts
How to make lemonade
____________

Monday Roundup: Links I Liked

2009-07-20T09:16:00.001-04:00

Happy Monday! Zero-waste lunches and the beauty of multiple savings accounts are just a few of the topics in this collection of posts and quotes from fellow bloggers. Here is a roundup of articles that caught my attention:

Will "forced frugality" last?

Many colleagues and family members say they feel a need to be frugal in this economic climate due to job loss and investment losses. With this shift to frugality it seems that shopping at thrift or dollar stores is suddenly trendy. However, will this new wave of frugality last?

How To Get A Job By Thinking Outside Of The Box

In this jobless era, however, the few and the bold (to paraphrase a military slogan) are the ones who will get the good positions available.

Forget Economic Stimulus! 20 Ways To Improve Your Finances Today

But no matter how stormy it gets out there, your best bet is always to remain diligent and conservative — otherwise you may ride the wave right into the gutter. Use the following tips as guidelines to keeping your head above water — fiscally, physically and emotionally — in these particularly unsteady times.

The Psychology of Having Multiple Savings Accounts

Back in 2007, I finally designated a savings account specifically...So it's no surprise that I've become a fan of having multiple savings accounts for specifically designated purposes.

Zero Waste Lunches: How to Make Your Own Executive Style Supply Kit

Ready for a make-it-yourself zero waste lunch kit you can take from backpack to briefcase in the blink of an eye? Read on.

______________

Free Event-Planning Tools: DIY Party Tips

2009-07-19T14:00:00.000-04:00

With seven party planners in three states, organizing an August baby shower for my youngest sister has been a challenge. Fortunately, we've found a practical to-do list at www.babyshower101.

With this planning tool, we have time to delegate chores and to shop around for the best prices. That strategy applies to other seasonal, daily or milestone events including vacation planning, back-to-school shopping and emergency preparations. There are several checklists online and on paper. Here are a few tips for using no-cost or low-cost event-planning lists.

• Check your PC. Excellent planning tools may be right under your fingertips. For example, my laptop is programmed with Microsoft's "Task Launcher." This program has templates for different projects, such as "plan a vacation" and "prepare for the holidays." Each project has a preset checklist that can be tailored for your event. My favorite feature is the deadline option that links a specific chore to a built-in calendar, which generates periodic reminders of deadlines and appointments.

• Avoid the soft sell: Many Web sites and blogs offer great to-do lists for college planning, spring cleaning and retirement planning. Search engines also provide links to checklists or to-do lists for different activities, events or functions. Some planning tools, however, include pitches for fee-based products and services. I stick to the free material.

• Pick up time management tips: At mindtools.com there are great techniques for managing time and setting goals. The site, like other Web sites, also offers a free blank template for creating to-do lists and a system for establishing priorities.

• Go old school: Seasonal to-do lists are standard features in many consumer magazines and newspapers. And of course, pen, paper and a traditional calendar are low-tech tools for creating a checklist and a timeline.

____________________________

Guest Post: Planning a Great Yard Sale & Extra Money-Making Tips

2009-07-16T22:43:00.000-04:00

In the guest post, Kathryn Vercillo, of the Money Saving Blog, has a sweet list of tips for running an efficient garage sale:

Tips for Running an Efficient Yard Sale

Yard sales aren’t just an easy breezy way to make quick cash. They require a lot of planning and a little bit of work. Nevertheless, if you put in that effort then you should be rewarded with some cash in hand at the end of the day. Plus you’ll have less stuff cluttering up your home. Following you’ll find some top tips for running an efficient yard sale so that the process goes along easily and you maximize your profits.

Preparing for a Yard Sale

The bulk of your work will go into preparing for the yard sale. Here are some tips to make that go smoothly:

• Set aside enough time to prepare. You’ll need time to gather the stuff for sale, sort it, label it with prices and announce the event. Set aside that time on your calendar.

• Gather sale merchandise. Make a pile and put it in one room in your home so you can see what you’ve got.

• Sort through everything by creating piles by price. You should have a $1 pile, a $5 pile, etc. Small items can be organized in bins, boxes and bags so that they stay within their price-based pile.

• Label each pile with its price. Signage works best but price stickers are another option.

• Make every item look nice. This may be junk to you but it could be treasure to someone else and you want them to think so. Wipe the dust off of your things and iron the clothes that are for sale. You don’t need to do major repairs but make an effort to make things look as valuable as possible.

• Announce the yard sale. List the sale in local classifieds (such as Craigslist). Send an e-mail out to everyone you know. Post an announcement on your Facebook. All of these announcements should clearly state when and where the sale is and should list some of the best items that you have available. Photos of top items are a good idea.

• Post signs around the neighborhood. On the night before the sale (or early the morning of) put up signs to point people in your direction.

• Get cash. Make sure you have change for making sales.

Running the Yard Sale

The day of your yard sale may feel hectic but these tips should make it efficient:

• Get started early. People start showing up for yard sales as early as 6am so you want to make sure that you’re up and out in your yard even before that.

• Check signs. Make sure your signs are up. Double-check them if you put them up the night before.

• Set up. Lay out your items based on the prices you designated earlier. Use blankets and tables to separate the piles so people can clearly see what things cost.

• Get some help. People show up in clusters at yard sales. Having a friend or two to help run the sale makes it go a lot more smoothly.

• Be friendly but not aggressive. People want to see a friendly face at a yard sale but they don’t want to be approached by a salesman!

• Cut prices. Slash your prices in half in the afternoon. Very few people come to yard sales late in the day and those who do are looking for bargains. Pick a time to end the sale and cut prices a couple of hours before that.

When the Sale Is Over

You’re going to have some stuff left over when the sale has come to an end. You should deal with it efficiently to finish out your sale. First you should identify if there are any items that you would like to try to sell elsewhere. If you have high-end furniture, vintage clothing or other good items then you may try to sell them on eBay, Craigslist or to local stores. Make a commitment to list these items for sale within one week so you’re not just hanging on to this junk. Everything else should be bagged up and dropped in a donation bin within the same week.

--Kathryn Vercillo of the Money Saving Blog, which was named one of the Top 20 British personal finance blogs earlier this year.

Fun on a Budget: Surprise Savings in the Amusement Park

2009-07-14T10:30:00.000-04:00

Even at a theme park, you can spend less and still have lots of fun. We found some great deals at Busch Gardens in Tampa. Some of the savings are no-brainers, but other thrifty deals took us by surprise. Here's are our frugal finds:

Cheap ice cream: Don't assume that prices are the same at every stand in the park. Here's what happened to us: Near the main entrance we found a stand with a two-for-one ice cream special. The sales person told us that the price drops toward the end of the day. In the summer, when the park closes at 9 p.m., the price of ice cream drops by 4 p.m. Not all stands cut prices, but it was standard procedure at the stand just outside of the main gate. As such, we purchased four ice cream pops for $1.50 per item.
Affordable lockers: Shop around for lockers when you are in amusement parks. We carry a small backpack stuffed with food, snacks, water bottles, sunscreen and other creature comforts. It's a money-saving option. Rather than toting the bag around, we rent a small locker for safekeeping. At Busch Gardens, we found different prices for lockers. Outside of the park - near the ticket gate - lockers cost $6 to rent, with unlimited visits. But inside the park, we found smaller lockers for 50 cents. Of course, each visit to the smaller locker required another 50-cent toll, but even three visits cost $1.50 versus the $6 rental for the other lockers. Plus, the smaller lockers were more conveniently located.

Water fountain: We were surprised to find that the water fountains at the park were cold and tasty. This was a budget-friendly option when our water bottles ran out. (We had purchased bottled water before going to the park.) Before recycling our water bottles, we used the water fountains for several cool, quick-and-easy refills. This strategy saved us at least $30 during the course of an eight-hour trip to the park.

Here are related articles:

A Money-Saving Guide to Theme Parks

The Penny Pincher Guide to Theme Parks

The Best (Inexpensive) Souvenirs
______________________

Sharon is the author of the Frugal Duchess: How to Live Well and Save Money -- a coming of age memoir about money -- and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

How to Save $1,000 & More on Moving Costs: Tips From Relocation.com

2009-07-13T12:53:00.008-04:00

A while ago, I ran a piece with moving tips from Myscha of Wise Bread. Here is a guest post from the folks at Relocation. com:

"With moving season in full swing this month putting moving services in higher demand, the costs can add up quickly. Relocation.com , a leading online consumer resource for moving services, shared five tips that can help consumers save more than $1,000 on their move.

To calculate the estimated savings, Relocation.com looked at a hypothetical move from New York to Los Angeles with 7,500 pounds of household goods, which is roughly the size of a three-bedroom house. Depending on the moving companies and the services required, the costs will vary. However, according to the Relocation.com moving calculator, someone moving this distance with this amount of goods would average $6,500 in moving costs. These numbers serve as a general guide for a typical move.

1. Be Flexible on Dates – Save $300 to $600

Many moves take place at the end or beginning of the month, or on Fridays or Mondays. Consumers who are able to move on “off” days might be able to work a deal with a moving company.

Here’s how to do it: Once the movers have come to the home to give a moving estimate, tell them the move date is flexible if it can save some money. If they are full on the weekends, they might have room in a truck that's going out during the week. The same goes for the destination: If delivery times can be flexible, ask the movers if that could cut some costs.

For the ultimate money saver, schedule the move outside of peak moving season, which takes place June, July and August. Inquire about any seasonal discounts.

2. Get Rid of 10 Percent of Belongings – Save $250 to $400

The less that needs to be moved, the less it will cost, and the fewer headaches to be had. Here are a few simple ways to determine what belongings can be shed:

Only pack the items that have been used in the past year. If something hasn’t been used in the past 12 months, it probably won’t be used again – and there’s no point to have to pay to move it.

As each room is packed, have two plastic bins – a 'definite' throwaway bin and a 'maybe' throwaway bin. When the room is finished, throw out everything in the ‘definite’ bin, make a decision on the ‘maybe’ items and then move on to the next room.

For clothes, in the months before the move, divide a clothing rod between ‘must-move’ and ‘not-to-move’ clothes. Which is which? After an item of clothing is worn and washed, put it on the 'must-move' side of the closet. When it’s time to pack, get rid of all the clothes on the 'not-to-move' side of the rod.

3. Don’t Use Packers to Pack Everything – Save $400-$600

Many consider packing an all or nothing thing: Either you pack everything yourself, or the moving company packs everything. In fact, companies can do what is called a partial-pack, which can save some money.

Roughly 50 percent of what needs to be packed is breakable, such as dishes and glassware. Let the movers take care of these items, since they are the most difficult to pack safely. In addition, moving insurance usually will not cover items that are not packed by professionals, unless there's clear damage to the outside of the moving box.

The other half – items that won’t break, such as clothes, toys and books – can be packed into boxes relatively easily and don’t require special handling or supplies. Not using packers for these items can save big bucks; it just requires some extra time and work.

4. Disconnect It – Save $150-$200

If the moving company provides any third-party moving services to handle disconnecting electronics and appliances, the cost of these services will be passed on to the consumer. Eliminate these extra fees altogether by taking the D.I.Y. route. Learn how to safely dismantle any electronics systems and how to disconnect/connect appliances. The estimated savings are based on the cost of using a third-party disconnection/connection service.

5. Avoid Moving Large, Breakable Items – Save $200-$300

There are certain items a moving company won't move without special crating, such as glass tables, flat-screen TVs and specialty artwork such as pottery or big oil paintings. Here are some options to cut down on the need for special, more expensive crating:

Glass items, such as shelves or tables, are generally cheap to replace compared to how much it costs to ship them. Consider the costs of moving them versus buying a similar type of shelf or tabletop at the new home.

For a flat-panel TV, the least expensive method is packing it in the box it came in. If that’s not an option, search online for boxes designed specifically for TVs, which contain special foam inserts for extra protection.

If it’s a long-distance move, fragile or valuable items can also be packed in the car. Or, rent a separate small moving van or a trailer in which to tow them. It will cost more for this, but the greater peace of mind about damages might be worth it. If there are enough items that would require crating by the moving company anyway, the costs might break even.
______________

Sharon is the author of the Frugal Duchess: How to Live Well and Save Money -- a coming of age memoir about money -- and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

51 Frugal Goals for a Birthday Weekend

2009-07-10T19:04:00.004-04:00

It's the birthday weekend, and I'm celebrating the 51st candle on my slice of lifetime cake.

With a gin and tonic and a lime-scented spirit of frugality, I am making these 51 wishes (goals) for the next 12-month period.

To save an extra $5,000 in my retirement account.

To spend less money on junk food.

To write 51 letters (snail mail) -- roughly one letter per week.

To write or revise 51 poems.

Read 51 books on finance or business development.

Read 51 books on spirituality and personal development.

To fine tune my strategy for the next 51 years.

To have 51 sugar-free days a year. (One day each week without sweets.)

Cook or bake 51 new recipes.

To giveaway 51 bits of clothing, books or merchandise that I don't need.

To compete 51 acts of random kindness.

To make 51 new friends on Twitter.

To finally open a Facebook account.

To have a 51 clutter-busting days: one per week.

Create and update photo books and scrapbooks for my kids.

Commit to 51 special one-on-one moments with each of my three kids: Special notes or activities.

To do 51 extra sit-ups each week.

51 minutes of meditation each week.

To let others speak 51 words for every word I speak.

51 manicures...fresh polish each week with either DIY or periodic salon splurge.

51 facials and deep conditions.

51 pedicures.

51 new pairs of shoes ---just joking! How about: 51 sunrise yoga sessions.

Regular conversations with family members.

Create 51 new play lists featuring Anita Baker, Steely Dan and my other favorite artists.

To take 51 new photos of my family and dog.

To get all of my annual checkups.

Encourage family and friends to get all of their checkups.

To make amends to everyone I have offended.

To get up 51 minutes earlier.

To go to sleep 51 minutes earlier.

To learn 51 new words in English, Spanish, French and Hebrew.

To exercise 51 minutes per day.

To say "thank you," "bless you" and "love you" 51 times daily.

51 acts of charity.

51 minutes of laughing each day.

51 minutes of forgiveness each week.

To let go of old grievances.

To forgive myself.

To forgive others.

To floss daily.

To drink at least 51 cups of water a week.

To increase my emergency fund by 51 percent.

Improve deadline performance by 51 percent.

To increase my income by 51 percent.

To write 51 percent more each day.

To pray more and to complain less.

To look at the moon through a telescope.

To climb 51 stairs a day.

To think of 51 reasons to be at peace with myself.

To think of 51 reasons to be grateful for friends, family and loved ones.

_________
Sharon is the author of the Frugal Duchess: How to Live Well and Save Money -- a coming of age memoir about money -- and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

Kiplinger's List of Great Summer Reads: Pages & Pages of Money

2009-07-08T22:25:00.003-04:00

"Kiplinger’s editors have compiled a list of their favorite books — imparting financial wisdom as well as entertaining tales — in 14 Great Summer Reads. Whether you’re looking for plot, thought, or want to be taught, it’s all here. Titles include:

· Babbitt by Sinclair Lewis (Dover, $3.50)
Yes, it's a novel from the 1920s, and no, it's not about picking stocks or mutual funds. But it's one of the original business novels in American letters and still one of the best.

· Liar's Poker by Michael Lewis (Penguin, $16.00)
The author's first big hit, this 1989 book chronicles Lewis's time working as a bond salesman for Salomon Brothers. If Solly hadn't been acquired by Travelers Group (later to become Citigroup) in 1991 and had survived to reach this century, there's a good chance it would have met the same fate as Bear Stearns and Lehman Brothers.

· Enough by John C. Bogle (Wiley, John & Sons, $24.95)
There's nothing new about Bogle's financial advice. Vanguard's founder still touts simple, low-cost investments such as the index funds he created. But his observations hit home at a time when investors are trying to squeeze every penny out of their investments.

·Nudge by Richard H. Thaler and Cass R. Sunstein (Penguin, $16)
Cleverly written and refreshingly readable, Nudge is an insider's guide to how our own psychological quirks and predispositions affect our decisions about health, wealth, and happiness

· Get a Financial Life: Personal Finance in Your Twenties and Thirties by Beth Kobliner (Simon & Schuster, $16) In this book, you'll find a collection of life's basic lessons on buying insurance, paying off debt, purchasing a home, saving money on taxes, managing your daily finances and investing for the long term. "

Cheap Icing Tricks & Other Baking Tips From a Pro Baker

2009-07-06T20:44:00.004-04:00

Baking can be both frugal and entertaining, an activity for kids as well as adults, says Sharmila Melwani, owner of Cookies by Shar, a wholesale bakery in Davie. Here's how she stretches the dollar while baking.

• Bulk up and store: Melwani buys all-purpose flour in 10-pound quantities and freezes it in sealed plastic bags. Those steps preserve the flour and save work later. ''It makes the dough firm enough to cut cookies out right away as opposed to refrigerating the dough before you cut them out,'' Melwani says.

• Mix in cream: Adding a tablespoon of sour cream or cream cheese to a recipe extends the shelf life of the dough and cookies by making them less vulnerable to humidity, she said.

• Use paper: ''I use parchment paper a lot. You can actually reuse parchment paper a few times to bake cookies before you throw it out,'' she says. Parchment is also useful for storing dough. Roll cookie dough between two pieces of paper. ''You can store it like this in an airtight bag or container,'' Melwani said.

• Consider craft shop tools: ''Inexpensive craft sticks make a great tool for spreading a thin glaze or icing,'' she said. ''You get enough control to create the effect you want and at the same time, have a disposable and inexpensive tool.'' Melwani also buys inexpensive cookie cutters at arts and crafts shops and cookware stores for under a dollar.

• Cheap icing trick: Place icing in a small plastic sandwich bag. Zip closed or fasten the top with a rubber band and cut a small hole into the bottom. By gently squeezing the bag, you can create piping, letters, numbers and designs on a cookie. For added effect, sprinkle on decorative sugar in different colors.

______________

Sharon is the author of the Frugal Duchess: How to Live Well and Save Money -- a coming of age memoir about money -- and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

How I Use Calendars & Notebooks to Reach Savings Goals

2009-07-01T22:38:00.003-04:00

Yesterday, I mentioned that a new 18-month calendar is helping me to save money. One reader asked how. Here's the agenda:

The Composition Notebook

In late April, I attended a very private goal-setting conference. I was alone with a pen and a clean notebook. I spent large blocks of time thinking about where I wanted to be in April 2014.

The five-year financial plan included:

fully funded college savings plans for my kids.

a retirement savings target.

an emergency fund with 3-6 months of savings.

a debt-free goal.

The Countdown

For each category, I created a plan that included:

a goal for May of 2014.

an annual goal, with a May 2010 deadline.

monthly objectives running from May 2009 through May 2010

weekly goals with regular reminders.

The 18-Month Calendar

Every month and every week, I review the notebook and study the goals. Like a teacher at a student conference, I give myself progress reports in each category. Goals and savings targets are transferred to the calendar, with reminders. Here's an example: "Transfer $100 into savings." I make revisions if the goals are too easy or too difficult.

In June, for example, the goal was to run a half-mile twice a week at a 10-minute mile pace. By mid-month, I had exceeded those goals in terms of time and distance.

Work in Progress

The system is still pretty new for me, but I'm confident that it will work. Organization is my biggest challenge, and the notebook/calendar system keeps me on track. I have calendars for every major area of my life: kids, college planning for my oldest child, creative goals, fitness goals, etc. I need a system because I'm either super-organized or completely discombobulated.

Every day I review my calendars. I wish that I weren't so time-bound, but that's just how I'm hard-wired.

______________

Sharon is the author of the Frugal Duchess: How to Live Well and Save Money -- a coming of age memoir about money -- and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

My Summer Fitness Plan: Lifting Weights & Pumping Fiscal Goals

2009-06-30T21:55:00.000-04:00

Summer is a great time for physical fitness, and I am lifting weights twice a week. But beyond the beach-ready body, we should also think about boosting our fiscal fitness.

To beef up my finances, I purchased a July 2009 - December 2010 calendar last week. The calendar -- 20 percent off -- is designated for tracking my financial goals, which include saving money for my kids college education, retirement and the all-important emergency fund. The new calendar, even has a built-in pocket for receipts and other papers.

Goal-setting is just one of several fiscal fitness tips recommended by the folks at Women & Co. Here is one fitness plan:

"Assess Your Health: Gather all important financial statements and review what you own, your assets, and what you owe, your liabilities. Look carefully at how you’re putting your hard-earned cash to work – what you’re earning, spending and saving. Then set aside some time every few months to file important papers and keep them organized.

Know Your Numbers: Your credit score is a key indicator of your financial health. It’s a primary criteria used by lenders to determine your likelihood of defaulting on a loan and that may impact your ability to get many types of loans, including a mortgage. Request your free annual credit report from each of the 3 major credit bureaus at www.annualcreditreport.com.

Set Your Goals: Once you know where you stand today, set goals. Short-term goals are those you’d like to accomplish within one year (e.g., pay off credit cards); mid-term goals, within 5 years (e.g., make down payment on a new home); and long-term goals, 5 years or more (e.g., save for retirement). Write these down, using the worksheet from Women & Co. to help you clarify and prioritize your financial goals.

Protect Yourself: Maintain appropriate insurance coverage; keep your beneficiary forms for your 401(k), IRA and insurance up-to-date; and put your wishes in writing by executing a will, living will, power of attorney and health care proxy.

Conduct Annual Check-ups: Review your finances at least once a year with your financial advisor. Keep in mind that life transitions such as having a child, getting married or divorced, or moving to another state, often bring with them financial, tax and legal implications."
--quoted material from Source: Women & Co.

______________

Sharon is the author of the Frugal Duchess: How to Live Well and Save Money -- a coming of age memoir about money -- and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

Finding Money & Spotting Financial Errors in the Mail

2009-06-28T14:54:00.002-04:00

It's possible to make or save money by just opening the mail. Bills, pay stub statements and even junk mail can be a source of savings. Within the last two weeks, a careful review of bills and statements has led to a savings of more than $200 in my home.

• Phone and utility bills: My husband Avi recently spotted two mistakes totaling $110 on our monthly phone bill. We were billed $80 for a home repair of our wireless network. The repair did not happen. We challenged both charges and were given credit for the errors.

• Magazine renewal fees: Through a special promotion, we had ordered several magazines for $2 per annual subscription. Last week, we received a postcard with details about an automatic subscription renewal. After reading the fine print, we discovered that the renewal rates were substantially higher than the initial promotions. We were billed $120 to renew four magazines. We canceled the subscriptions.

• Phantom monthly charges: After examining her Internet and cable television bills, my mother discovered recurring charges for features she had not ordered. She protested and had the charges removed.

• Pay stub mistakes: Review pay stubs. You may be responsible for tax or income errors. If you've been overpaid, your company could request immediate repayment. A friend once faced a substantial tax penalty for a recurring tax error that was ultimately her responsibility.

• Promotions: From free facials to complimentary cups of coffee, we have found useful discounts by reading promotional mail, including e-mail. Coupons for food, entertainment, merchandise and services have yielded valuable savings and services.

_________________

Michael Jackson: RIP & Currency for Peace

2009-06-26T18:59:00.003-04:00

Monetary hits have limits and a language of loss. But there are few words to express bankruptcies and losses of the heart. Therefore, cliches become the currency of pain and, we just say:"Rest in Peace" Michael Jackson.

May your wealth, poverty, moon-walking leaps, talent and fame in this world pay real dividends of peace in the World to Come. Shalom!

Black Holes in Relationships: What Spouses May Not Know About Money

2009-06-23T21:33:00.004-04:00

You could fill a vault with the things men and women don’t know about their and the spouse’s money. That's the word from the folks at MassMutual. Here's a list of five great questions to ask.

"Who 'owns' the assets? Is anyone cheating on the budget? Will each spouse have to fight for what’s his or hers? And, are they putting their lives, homes, and assets at risk by not asking the right questions?

“Through death or divorce, many women will be alone at some point in their lives; they should be aware of their husband’s financial plan because someday they may have to live with it,” said Beth Wood, assistant vice president, Massachusetts Mutual Life Insurance Company (MassMutual).

“Conversely, for the growing number of households where the woman is the CFO, there’s no excuse for the man not to know what’s going on with the family finances,” said William Dougherty, assistant vice president, MassMutual.

Wood and Dougherty have developed five questions spouses and partners should ask each other.

1) Are there hidden pockets of money?
Identify all accounts including checking, savings, retirement, investments, on-line trading, IRAs, etc. If you’re left alone and don’t know about the money, it could go unclaimed and neither you nor your children would get the cash. With today’s technology and being able to receive statements on-line, there’s no paper statement that necessarily comes in the mail. A spouse may just get an email that says ‘Here’s your statement.’

“Communication between spouses can be good - trying to "hide" money really won't work in the end especially if you file a joint tax return - you don't want to hide money from your spouse and you certainly don't want to hide money from the IRS, so full disclosure and honest communication about financial goals is key,” said Dougherty.

2) Am I the owner of this account?
One spouse may have opened a checking, savings, or investment account; but if you're not named as owner or beneficiary, there could be issues and complications as to how that money gets distributed in the event of death or divorce. It's a good idea to know what accounts exist, where they exist, and whether you're an owner or beneficiary.

“This isn’t about one person snooping on the other; this is about working toward a healthy financial life and relationship. If there are secrets out there or things you don’t understand, that can never lead to any good,” said Wood.

3) Are you cheating?
Anyone in the relationship could run up huge credit card bills. Is someone living beyond the budget? Are you saving for college, mortgage payments, cars, and vacation – or is someone spending their money on “toys?”

“If you don’t share and stick to common financial goals, it can break the budget and the marriage. There may be an awful lot of spending for sports, electronics, spa treatments, and clothing outside the household budget,” said Wood.

4) Where’s my cut?

Have a budget, but don’t let it be your ball and chain. It’s important to do things for yourself. Peel off a portion of the household income for things important to you - but don’t call it an allowance.

“It’s important that each spouse feels they are a valuable, contributing member of the household – whether they bring home a paycheck or stay home to take care of the children and run the house; both are full time jobs,” said Wood.

5) Do your safety nets have holes?
No harm done if the milk expires, but it could be a huge problem if a spouse’s life insurance protection expires - and you don't know it. “There are critical differences between the many kinds of insurance people use to ensure the family can continue to pay its bills and survive if a spouse dies too early, lives too long, or becomes disabled along the way,” said Dougherty.

Mass Mutual offers more than two dozen free calculators for savings and financial planning.

_________________

Airport Survival Trips: How to Wait for Your Flight Without Spending too Much

2009-06-22T08:22:00.004-04:00

Grounded by delays or missed connections, it’s common to spend hours waiting for a flight at an airport. But when boredom arrives at the gate, common sense often departs. That’s when we become easy targets for extra travel pillows (two for $20), colognes or luggage. Here’s how I avoided temptation while waiting for a flight to Orlando.

• BYOB: Bring your own books. With books from home, I’m less tempted to make an impulse purchase. For instance, Dale Carnegie’s classic “How to Stop Worrying & Start Living,” saved my sanity when I was stranded for six hours in an airport.

• Bargain books: If you forget your own books, look for discounted items and special promotions at airport bookstores. At one store, I spotted red-tagged books marked down to as low as $3.99. Additionally, some airport bookstores, will let customers return hardback books and receive a 50-percent discount on a future purchase at one of their stores, with a six-month time limit for the exchange.

• Set goals: Nonprofits and corporations hold annual goal-setting conferences for executives and staff members. Likewise, I participated in a small goal-setting retreat at an airport. The session – sparked by boredom -- would have cost a fortune if I had hired a life coach or attended a motivational conference. My agenda included short-term, 12-month and life goals.

• Exercise: Airport hallways offer a respectable workout opportunity and a moving sidewalk can be a practical substitute for a treadmill. Impatient pacing can become a cardio-workout, with carryon luggage filling in for free weights.

• Go sightseeing: At the Orlando International Airport, I watched a family of four pose with a statue of Snow White. Watching their smiles, I realized that any trip can be a vacation if we enjoy the scenery. In fact, at several airports, I’ve seen sculptures, photograph exhibits, murals and funky lounges. It’s all in the frame and while bored, I’ve learned to create a better frame of mind.
______________

Sharon is the author of the Frugal Duchess: How to Live Well and Save Money -- a coming of age memoir about money -- and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

Be an Electronics Expert for Father's Day & Other Free Gift Ideas

2009-06-18T21:49:00.003-04:00

Instead of giving our dads new gadgets for Father's Day, we can provide our services as gadget masters and computer programmers, according to the folks at iVillage. They've assembled a list of free and creative gift ideas.

Here's a sample:

"While computers, mobile phones and iPods make fine Father's Day gifts, they always require some set up. Free up your dad's time for some of his more entertaining pursuits by plugging in all those wires, programming his most-dialed numbers or downloading some new tunes for him." -- source: iVillage

Here's a link to the full Father's Day feature on iVillage.

_______________________________________
Sharon is the author of the Frugal Duchess: How to Live Well and Save Money -- a coming of age memoir about money -- and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

Mascara, Movies & Other Odd Economic Indicators: From Kiplinger's

2009-06-17T21:29:00.003-04:00

Movie theaters, dry cleaners and mascara can tell us a lot about the economy, according to Kiplinger.com , which has put together a funny list of "10 Quirky Economic Indicators." Here's a sample from the list:

· "Dry Cleaning Pickups Are Down The International Drycleaning and Laundry Institute is hearing gripes from many of its 5,000 members. Because of the poor economy, customers are visiting less frequently and leaving clothes longer. Customers who once came weekly now visit every two weeks, monthly customers visit bimonthly, and some people delay their pickups even longer to avoid the bill.

· More First Dates. Misery loves company. In the fourth quarter of 2008, online dating service Match.com was its busiest in seven years. When the Dow Jones industrial average dropped to a five-year low last November, the company had its second-busiest weekend of the year. Match.com believes people are looking for someone with whom they can forget about money troubles—or share the pain.

· More Green Thumbs. The National Gardening Association finds that the number of households that will grow their own fruits, berries, vegetables and herbs this year is 19% higher than in 2008. That makes 43 million gardeners in the United States this year—54% of whom say the prospect of saving money on groceries motivates them to till the soil.

· Goopier Eyelashes. You’ve got that recession look in your eye. Total eye-makeup sales at supermarkets and drugstores were up 8.5% in the one-year period that ended on March 22. In that period, more than $260 million was spent on eye makeup—in particular, eyeliner was up 9% and mascara almost 13%, the industry says. The leading lipstick indicator—the past trend that lipstick sales rose in economic downturns as consumers settled for inexpensive luxuries—is not holding up. Lipstick sales are down 11%.

· Romance Novels Are Hot. Harlequin, the giant romance-novel publisher, says its sales were up 32% in 2008 from the year before. In 2009, sales are still rising. The publisher credits the increase to its uplifting stories that offer a haven, and to the low prices of the books relative to other entertainment. Harlequin saw a similar sales increase during the recession of the early '90s.

· Packed Theaters. When times get tough, people go to the movies. Box-office sales have increased in all of the last five recession years. According to the National Association of Theatre Owners (NATO), the number of movie tickets sold in the first quarter of 2009 increased more than 9% from last year. People continue to fill theater seats, NATO says, because movies are one of the least expensive entertainment options out of the house. "

--source: Kiplinger.com

The full list of “10 Quirky Economic Indicators”

_____

Wash It Yourself & Other Ways to Save Money on Organic Fruits, Veggies

2009-06-16T07:47:00.005-04:00

My children appreciate the added flavor in organic fruits, vegetables and dairy products. Unfortunately, organic products, which are grown and packaged without pesticides, artificial coloring or preservatives, are expensive. The following strategies have helped us to purchase organic products while staying on a tight budget.

• Follow the loss leaders. Grocery stores and specialty chains typically offer several heavily discounted items each week. These promotional items are called loss leaders because stores are willing to take a financial hit on them in order to bring consumers into the store. Stock up on sale items in the organic section and build menus around them.

• Stay local. In-season and locally produced fruits and vegetables are usually cheaper than out-of-season items that have been imported.

• Wash it yourself. We pay a premium for veggies that are already washed, peeled or cut. When time allows, I save money with do-it-yourself washing, peeling and chopping of fruits and veggies. The savings are significant.

• Hit the freezer. I love organic blueberries, but when the out-of-season price spikes to $6.99 for six ounces, I go to the freezer aisle. That's where I pick up a 10-ounce package of organic berries for about $4. The freezer section offers a variety of frozen organic fruits at reasonable prices. Frozen fruits are great for snacking or baking.

• Join an organic co-op. Before we let our membership lag, we were part of an organic food co-op in our neighborhood for over a year. We have since joined another group and are pleased with the savings. Our produce bill has dropped by 30 percent due to the co-op, which purchases fruits and vegetables in bulk from local, organic farmers.
______________

Sharon is the author of the Frugal Duchess: How to Live Well and Save Money -- a coming of age memoir about money -- and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

They Lived in a Station Wagon: Lessons From One Family

2009-06-10T21:55:00.007-04:00

A family from Copake Falls, NY lived in their car for two months and 11 days. Both parents were employed, but became homeless when their landlord went into foreclosure. From laundry to dinner meals, basic living expenses cost more when you don't have a home, according to Dennis and Pamela Marks.

Their story was featured in the April 2009 issue of All You magazine.

Background:
Dennis and Pamela Marks, plus five children, lived in a trailer. With the pending arrival of a sixth child, the family was outgrowing that home.

They sold the trailer and rented "a nice three-bedroom house with a yard." It was sweet set-up, until a three-day eviction notice arrived. The landlord had fallen behind on the mortgage payments, and the bank had seized the property. That was in May of 2007.

Finding a new -- and affordable home -- in three days was difficult. Very few people wanted to rent to a large family. "By then end of the third day, we had no more options --we slept in our old Ford station wagon that night," Pamela Marks told All You magazine.

Life in a Car:
With kids ages 4-16, the family slept in the parking lot of their employer. At times, the school-age children spent nights in the homes of friends, but on most nights the family slept in the station wagon. Finally after two months, the Marks were able to find an affordable home.

Life Lessons From Pamela Marks:

The homeless tax: Life costs more when you have less. For instance, the Marks paid about $200 per month to do the laundry. Likewise, meals at fast-food restaurants created a high monthly tab. "The kids hated it, but it was all we could afford," Pamela Marks said.

Appreciation: When they found a home, the family was grateful for small pleasures, such as stability, home-cooked meals and fresh vegetables. The children learned to be more compassionate and are eager to help others in need.

Ask for help: There were a variety of programs that could have provided the Marks family with shelter or assistance, but after being urned down by one program, the family stopped seeking help. Pamela Marks offers this advice for those facing financial trouble: "Wade through the bureaucracy to find the services that you need...Looking back, I wished we had reached out more for help."

Look for free activities: While they were homeless, Pamela and Dennis Marks entertained their kids with a wide range of free activities from parks, museums and libraries.

________________

Sharon is the author of the Frugal Duchess: How to Live Well and Save Money -- a coming of age memoir about money -- and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

Welcome ABC News Now Viewers: How to Unspoil Your Child

2009-06-08T22:02:00.007-04:00

I recently had the pleasure of appearing on ABC News Now to chat about the subject of children and money.

The topic was prompted by this post: How to Unspoil Kids: A Crash Course from Money Magazine with insights from Linsey Knerl of Wise Bread, who has written a great piece about what we should tell our kids about money.

Here is a link to the ABC News video segment: How To 'Un-Spoil' Your Child.

Thanks to the folks from ABC for inviting me to appear.

_____________________________________________________________________
Sharon is the author of the Frugal Duchess: How to Live Well and Save Money -- a coming of age memoir about money -- and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

Cheap and Easy Repairs for Wardrobe Malfunctions

2009-06-08T08:06:00.004-04:00

At work, parties or other formal occasions, wardrobe malfunctions can be expensive. Sudden downpours, popped buttons and scuffed shoes can lead to quick-fix shopping sprees or expensive repair bills.

But the annual ritual of preparing for hurricane season and other household emergencies has taught me to develop a survival kit for fashion emergencies. The following tools can be money-savers.

Weather-proofing: Carry a folded plastic poncho in your car, briefcase or purse. Portable rain gear can be purchased at drug stores, dollar stores and other outlets for $1 to $5, and easily stored in small spaces. The investment can save a suit from ruin or prevent a costly trip to the dry cleaners.

Instant shoe repair: A black marker can instantly banish scuff marks from black leather shoes. Likewise, I’ve make quick repairs with matching shades of navy and red markers.

Staples and hooks: Before meetings, I have stapled the hem of an unraveling skirt, and I’ve used staples to repair broken hook-and-eyelet fasteners. When a clasp falls apart, I’ve replaced the broken eyelet with a vertical staple in the inner seam of the garment. I then link the hook to the staple. With this repair, a skirt or cardigan closes perfectly.

Quick hem: I’ve repaired falling or missing hems with adhesive strips that are applied with a hot iron. This quick fix — available at drug stores or specialty retailers — has been used for bridesmaid gowns (hours before a wedding), boys’ dress pants, curtains and skirts. Scotch tape also doubles as a great short-term fix for falling hems, but is less reliable.

Spare shoes: Puddles, broken heels and other emergencies have taught me to stash spare sets of shoes in the office, gym locker or family car. An extra set of dress shoes provides a quick transition from business casual to more formal attire.

Accessory collection: For an instant wardrobe upgrade, a friend keeps several ties and a jacket in his office. Those items are helpful when he’s called into sudden executive meetings or other formal gatherings. Likewise, I know women who use shawls and other accessories to deliver quick makeovers without spending a dime.
___________________________

Sharon is the author of the Frugal Duchess: How to Live Well and Save Money -- a coming of age memoir about money -- and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

Islands of Stability? Kiplinger's: 10 Best Cities for Jobs

2009-06-05T17:15:00.005-04:00

"Kiplinger’s Personal Finance has named its 10 Best Cities of 2009, selecting areas offering solid employment opportunities and the talent to create new, well-paying positions. A healthy job market means these cities will suffer less during the recession and will have a head start toward growth when the recovery takes off.

Kiplinger’s Best Cities of 2009:

1. Huntsville, AL—This northern Alabama city represents critical mass for the nation’s missile-defense and aerospace industries as well as medical and life-sciences sectors. In addition, Huntsville owes much of its red-blooded vitality to the U.S. Army, which employs more than 14,000 people at the 38,000-acre Redstone Arsenal.

2. Albuquerque, NM—Albuquerque’s desire to bring good jobs to its residents is represented by its budding film industry, which has grown from 100 people eight years ago to 3,000 today, many of whom are locals trained for the new jobs. It’s had even more success in attracting companies in the solar-energy industry—such as Schott North America, which has its flagship solar-panel plant in the area.

3. Washington, DC—The federal government employs one in eight workers in the Washington area and fuels nearby companies in almost every industry—law firms, lobbyists, and aerospace and defense companies in particular. High-tech firms in northern Virginia and biotech companies in Maryland offer many employment opportunities.

4. Charlottesville, VA—From the University of Virginia to the downtown promenade, the Charlottesville community is an unexpected blend of Southern charm and liberal edge with a strong business base. UVA employs one-fourth of the local workforce—and the faculty’s research often results in private spinoff companies.

5. Athens, GA—The Classic City is home to the University of Georgia, the city’s largest employer. It is also a hub of regional medical services, including Athens Regional Medical Center, St. Mary’s Health Care System, and Landmark Hospital, providing health care and jobs not only for the community but also for nearby counties. International manufacturing companies, such as Carrier and DuPont, also have operations in Athens.

6. Olympia, WA—Employing about half of the city’s working population, the state government is the keystone of Olympia’s economy. Education is another big driver of the city’s growth and character. Evergreen State College, a liberal-arts school specializing in the social sciences and visual and performing arts, helps fuel the creative spirit, and Saint Martin’s University, a private school located in neighboring Lacey, is known for engineering and applied sciences.

7. Madison, WI—With a jobless rate three percentage points below the national average, Madison’s ready-made economy feeds off of its two largest assets: the University of Wisconsin and the Wisconsin state capital. But these two institutions account for only 20% of Madison’s jobs; the rest come from its strong mix of tech and biotech firms.

8. Austin, TX—Last year, the Texas capital added 3,300 jobs, the biggest bump in the country. The increase covered a broad swath, from professional services, education and hospitality to health care and government. Give most of the credit to government and higher education. State government employs 170,000, a fifth of the city’s workforce, and the University of Texas at Austin alone employs more than 6,000 people.

9. Flagstaff, AZ—The Old West charm of Flagstaff is infused with new energy—both from its residents and from the college students at Northern Arizona University. The university adds jobs to the city’s economy, plus arts and entertainment to its cultural scene. The government is big business in Flagstaff (which is the Coconino County seat), as is tourism—a result of the city’s proximity to the Grand Canyon.

10. Raleigh, NC—Raleigh has an enviable economic base, built on three universities and Research Triangle Park, where employers in everything from biotech to computers still thrive. Although Raleigh’s unemployment rate has doubled in the past year, to 8.6%, it’s still much lower than the 10.8% rate for the state as a whole.

This year’s favorites are profiled in the July issue of Kiplinger’s Personal Finance, on newsstands June 9, and online , with additional interactive features:

(www.kiplinger.com/money/bestcities)

· Narrated walking-tour slide shows
· A Which City is Best for You? calculator to help readers determine the city which best matches their goals and tastes
· A spreadsheet that lets readers see where their own city ranks in different key categories

Methodology
Kiplinger’s included data on population growth, unemployment rate, income growth, and cost of living to determine city rankings. Based on the formula, Kiplinger’s looked for places with a professional, high-quality workforce that will help generate new jobs and businesses once the recession ends.

To identify the Best Cities of 2009, Kiplinger’s teamed with Kevin Stolarick, research director at the Martin Prosperity Institute, a think tank that studies economic prosperity. Stolarick evaluated U.S. cities for their growth potential, looking not just at the overall number of jobs but also at the quality of those positions and the ability of cities to hold on to them when the economy softens.

______________
Sharon is the author of the Frugal Duchess: How to Live Well and Save Money -- a coming of age memoir about money -- and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

_________________________________________________________________

Putting a Price Tag on Good Grades: Cell Phones and Cash Bonuses?

2009-06-03T21:12:00.007-04:00

Extortion or an incentive plan? If a child asks for a reward for good grades is that extortion? If a parent pays a cash bonus for each "A" on a report card, does that bonus represent a bribe?

Those are a few of the questions that were debated among a few friends today when one parent shared the news that his award-winning 10-year-old son wanted a new cell phone as a reward for earning great grades and several top academic awards.

The father agreed to the cell phone request. But Anna, a mutual friend, was appalled by the cell phone-for-good-grades barter: "Kids are supposed to get good grades. They don't get paid for that," Anna said.

But in the work world, adults receive bonuses for meeting sales goals or for outstanding performances. Likewise, I know of a family that pays a cash bonus for great grades. It makes sense. Sort of. But I'm torn.

It's important for kids to make a link between hard work and financial rewards. In fact, I'll be discussing that topic on ABC News Now.com at 4 p.m. on June 4. I think children should receive bonuses for completing chores and small jobs around the home.

And I applaud a 10-year-old who is savvy enough to use an excellent report card as a negotiating tool. But I have mixed feelings about parents who give in to those demands. The scenario became even more complicated because the student asked his father to pick up the new cell phone immediately after work.

That demand was vetoed. The kid could wait until the weekend, the father said. As a friend, I nodded in agreement.
________________________________________________________________

Sharon is the author of the Frugal Duchess: How to Live Well and Save Money and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

_________________________________________________________________

Eating Out, Spending Less: Tips from Consumer Reports

2009-06-02T21:24:00.003-04:00

Consumer Reports recommends the following strategies for spending less while eating out:

"Look for bargains on the menu. CR found: buy-one-get-one-free appetizers and entrées; all-you-can-eat specials; lower prices for smaller portions; off-peak dining specials; low-cost upgrades (add chicken to a salad for $1); flat-rate discounts of as much as 20 percent; even free food and more on almost all of the chains in the ratings.

Sign up for e-mail alerts. Chain Web sites are the best source of menu specials, discounts, and other promotions. That’s how CR learned about IHOP’s national free-pancake-day campaign and Denny’s Grand Slam and Grand Slamwich breakfast giveaways. After signing up for e-mail at dozens of chains, we were flooded with coupons.

Show your age. Many family chains, including Bob Evans, Perkins Restaurant & Bakery, and Eat’n Park, have reduced-price menus for kids (usually under 10 or 12) and seniors (usually 55 and up). Some dinner chains offer incentives too, such as free meals for kids on Tuesday (Black-eyed Pea, Chevys Fresh Mex, and Beef O’Brady’s). If you reveal your birthday (sign up online), some chains are particularly generous.

Time your visit. On weekdays and at off-peak hours, there are many chances to economize. Texas Roadhouse, for example, features 10 $7.99 dinners Monday through Thursday. Lone Star Steakhouse has a $7 soup-and-salad-bar buffet on the same days, from 11 a.m. to 6 p.m.

Eat at the bar. Pricey McCormick & Schmick’s has a bar menu offering cheeseburgers and fries for less than $3, tuna rolls for less than $4, and jambalaya for less than $5. T.G.I. Friday’s has bar appetizers for a penny if you join its Give Me More Stripes frequent-diner program. It’s free.

Order takeout. Getting food to go at least saves the cost of a tip, and the list of chains accepting online and telephone orders is growing. So are the ranks of those allowing curbside pickup."

In a survey, Consumer Reports rated 101 chain restaurants and provided other money-saving tips in the July issue. _______________________________________________________

Sharon is the author of the Frugal Duchess: How to Live Well and Save Money and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

Catch Up With Me On ABC News Now: New Date!

2009-06-01T23:19:00.006-04:00

* Editor's Note: Please Note The Date Change

ABC News Now has invited me to appear as a guest on Thursday, June 4, between 4 p.m. and 4:30 p.m. I'll chat about kids and money. What kind of financial education should we give our kids? That topic is up for debate on ABC News Now.

Here is info about ABC News Now: "ABC News' digital cable network, ABC News NOW, is available on cable, broadband and mobile. ABC News NOW is an entire network devoted to better living..." Please tune in. Thanks!
_______________________________________________________
Sharon is the author of the Frugal Duchess: How to Live Well and Save Money and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

Jeans for 99 Cents & Other Consignment Store Deals

2009-05-31T19:38:00.003-04:00

Consignment stores offer value and selection. That's what my sister Debra discovered after she complained about the cost of maternity clothes at a national chain. A fashionable co-worker shared her money-saving secret:

Try consignment shops, which include items that are new with original tags. Shopping with a friend, my sister purchased a wardrobe of affordable maternity outfits and school clothes for a 10-year-old boy at a well-organized consignment store. Here's how they filled the shopping bag.

• Red-tag specials. Consignment and thrift stores have weekly specials, including red-tag sales on different categories of merchandise. For example, my sister and her friend found several outfits, including jeans and school clothes, for a total of $12. The price included a 50-percent discount from the weekly red-tag special. The affordable clothes were ideal for the pre-teen, who had outgrown his last wardrobe within months.

• Fruitful deals. At one national chain, my sister found a pair of maternity jeans for $79. At the consignment store, Debra found six pair of jeans and dress slacks, in excellent condition, for $10.20 and a pair of maternity denim shorts for 99 cents. At those prices, my sister was able to splurge on a wardrobe that she would need for less than a year.

• Seasonal garments. Consignment stores are an excellent place to hunt for ski clothes and other specialty outfits that may have been barely or never worn. For example, at one upscale consignment store, a friend spotted a full selection of ski clothes for pre-teens and teenagers. The deals included an insulated overall set for $12.

• Designer fashions. At one consignment store in a fashionable shopping district, I've found designer clothes, including Chanel bags, Prada dresses and Manolo Blahnik shoes. The prices are steep, but far less than the full retail prices at designer outlets.
______________

Sharon is the author of the Frugal Duchess: How to Live Well and Save Money and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

Loan Scams: How to Spot the Red Flags

2009-05-27T22:10:00.002-04:00

This piece offers some solid tips about avoiding lending scams:

"Challenging economic times, declining home values and skyrocketing foreclosure rates have homeowners looking for solutions to help them keep their homes. An appealing option for some is loan modification—which involves working with your current lender to alter the terms of your existing loan. A loan modification usually means your monthly payments are reduced, either by lowering the interest rate or extending the term of the loan.

“For homeowners struggling to make monthly mortgage payments, the opportunity to renegotiate the terms of their current loan may help them keep their homes,” said Jessica Cecere, president of Consumer Credit Counseling Service (CCCS) of Palm Beach County and the Treasure Coast.

“Unfortunately, there are businesses that will take advantage of consumers’ fears. Homeowners need to know that help is available from many HUD-approved nonprofit counseling agencies and they need to investigate any company that requires a payment for these services.”

CCCS cautions consumers to be aware of some of the red flags of typical scams:

Guarantees – Be wary of any company that offers a guarantee of stopping foreclosure regardless of your circumstances. Keep in mind that oral promises and agreements relating to your home are not usually binding, so a guarantee in an ad or from their representative may be meaningless.

Up-front fees – Some companies charge a fee before reviewing your situation or making a single call on your behalf. Beware of any attempt to collect payment from you before providing a service.

Redirected payments – Do not agree to make payments to a third-party. Some scams involve having the homeowner pay a company with the promise that they will make your mortgage payments. If they fail to do so, you have lost your money and may still wind up in foreclosure. Always make payments directly to your mortgage company.

Buy-back or Lease-back plans – In this case, companies have homeowners sign over the deed to their home and then rent it back from the company. The terms of the agreement may require high up-front and monthly fees and failure to meet these terms may result in the loss of your money and eviction. It is important to note that transferring your title does not change your payment obligations—you are still responsible for your mortgage debt even though you no longer own your home.

Consumers need to be especially cautious of any attempts by a company to stop them from communicating directly with their lender, with an attorney, or with a housing counselor. They need to carefully read every document and fully understand what they are signing. Never allow the company to complete the paperwork for you or pressure you into signing a document you have not thoroughly reviewed.

Loan Modifications Are Available –The federal government has developed a major loan modification and refinancing program to help homeowners find affordable loans and to save their homes. For more information on these federal mortgage modification and refinancing programs, visit http://www.makinghomeaffordable.gov/."

________________________________________________________________

Sharon is the author of the Frugal Duchess: How to Live Well and Save Money and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

Cheap Drinks, Great Food & Other Low-Cost Party Tricks

2009-05-24T12:47:00.003-04:00

Dinner parties and potluck meals provide inexpensive options for celebrating special occasions. And you don't have to sacrifice elegance when creating festive do-it-yourself events, according to Susan Gladstone, an adjunct professor of special events at Florida International University and owner of Susan Gladstone Productions. Here are a few suggestions:

Elegant barbecues. A creative theme and decorations add extra seasonings to the standard backyard grill. For instance, with elegant picnic baskets and other decorative touches, Deco Productions, an event planning company, once created a cookout with a "weekend in the Hamptons" theme. Dollar stores, discount outlets and other specialty retailers are a great source of affordable decorations, which can be saved and recycled for other events.

Upgrade appetizers. Lobsters, prime steak and other expensive treats may be too pricey to serve as a main course. If so, Gladstone recommends serving smaller portions of luxury treats during the appetizer course. "You can still have the expensive item and serve something more affordable for your main course," she said.

Go green. Shop in season and purchase organic produce directly from local growers, a food co-op or a farmers' market. Save paper and postage by sending electronic invitations.
Save on centerpieces. "You don't have to go to florists to make wonderful centerpieces," Gladstone said. Select flowers and greenery from your own backyard. Design centerpieces based on the party's theme or the dinner menu. For example, a centerpiece arrangement of bell peppers in a variety of colors or festive containers of different herbs and spices can create visual accents for an Italian meal.

Lower the bar. Cut the cost of an open-bar by serving a "signature drink," which is a cocktail that has been creatively renamed to reflect an event, the host or the season. Serve sparking white wine instead of champagne, Gladstone said.
___________________________________________________________________
Sharon is the author of the Frugal Duchess: How to Live Well and Save Money and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

How to Be a Great Party Guest: 7 Mostly Frugal Tips

2009-05-22T19:12:00.004-04:00

A friend of mine keeps a stash of vases -- pretty, but cheap vases from thrift stores and yard sales -- and uses them to deliver flowers to a dinner or cocktail party. Flowers delivered in water and in a vase offer a host-friendly gift.

Here are other tips for being a great guest. Most of the suggestions are frugal and fun. The tips are from Lolita of the Lolita Store --and yeah she's pushing her trinkets as gifts, but the tips are good, and that's why I'm running them.

1. "RSVP (and do it on time)! That way, you're already being a good guest before you even get there.

2. Offer assistance. When RSVP-ing or any time before the event, ask how you can help. Your offer will be appreciated (and, most likely, not accepted).

3. Never arrive empty handed! Bring a thoughtful gift the host or hostess can use. [Editor's note: There was a soft-sell here for Lolita's products.]

4. Mingle, mingle, mingle. People want to see their guests having a good time with each other. Ask people questions, and be willing to share information about yourself.

5. Use that camera. Don't just bring your camera, use it. Get some photos of guests, the host, the venue, the food... People often forget to capture the moment.

6. Clean up after yourself. Unless specifically directed not to do so, minimize your party footprint. And if you're one of the last to go, ask if you can help clean up after others as well.

7. Follow up with a "thank you." A simple call, email or (gasp) hand-written note is always nice to receive. Remember those pictures you took? Sharing those with the host is another way to show how much fun everyone had."

Source: Lolita of the Lolita Store

______________
Sharon is the author of the Frugal Duchess: How to Live Well and Save Money and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

10 Creative Ways to Save Money: Bank Survey

2009-05-20T22:25:00.002-04:00

Stash away all $5 bills. Keep piggy banks around the house. Save money in soda bottles. Those are three of the 10 creative savings tips from bank customers, according to a recent survey.

Here's the item:

"A survey conducted by Huntington National Bank with more than 1,000 respondents indicates that consumers’ most popular saving method is to place a portion of their paychecks in a savings account, as soon as possible, so that they will not be tempted to spend it.

The most often used phrase from respondents was: “I pay myself first” by depositing money in a savings account before paying monthly bills. Not only do they put some of their earnings away immediately, but many also reported using piggy banks and soda bottles to collect their daily change.

Once those containers are full, they put the money in an account so that they will “not buy on a whim.” Some even go so far as to open accounts without debit card access in order to avoid impulse buying. Fifty-seven percent reported recently opening a savings account, money market or CD to help them save.

In the survey conducted from April 7, 2009 to April 30, 2009, Huntington asked consumers to complete the phrase ‘My most creative way of saving is to…’ While 30% said they deposit money in an account, the second most popular method of saving is clipping coupons (10%). This was followed by eating at home or packing lunches (5%), and limiting shopping to what you need vs. what you want (3%).

Here are 10 other popular tricks:

1. “We have piggy banks throughout the house and every coin I find in the washer or on the street is put in the piggy bank. Once full, it is deposited in our savings account.”

2. “For every dollar I spend when I pay bills, I try to save a half dollar. It sounds hard, but once you learn to live frugally, it is a lot easier than you think.”

3. “I do not spend $5 bills. When I receive a $5 bill in change, it goes into an envelope for savings. This money is deposited at the end of each month. I can save $100 to $150 using this method.”

4.“Every time I take cash from the ATM, I transfer the same amount to my savings. It was my New Year’s resolution. It works!"

5. “I have five accounts, each account has a purpose. Gas, bills, savings, Christmas and just spending.”

6. “I transfer at least half of our checking balance that remains the day before payday into our money market account.”

7. “Personally, if I do not carry cash with me, I tend to spend less on the little things like pop and snacks. I am more careful if I have to put these items on a card.”

8. “I remind myself on a daily basis that I need to ‘do without some things.’ Then I make it a game for myself to see how much I can hold on to in the span between paychecks. Then I dump that money into my savings account.”

9. “I hold an annual swap with my friends. That way we can exchange our unwanted items for other things we might need that someone else is getting rid of.”

10. “I take the stimulus money and put it into my savings account every two weeks. I didn’t have the extra before so no need to make it a part of my monthly budget.”

______________
Sharon is the author of the Frugal Duchess: How to Live Well and Save Money and a contributing writer in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

Financial Emergency Kits and Other Storm Preps

2009-05-19T22:30:00.003-04:00

With the recent earthquakes in California and the June 1 start of hurricane season in Florida, the annual ritual of preparing for weather-related emergencies and storms is underway in my home. In addition to collecting candles and batteries, we're also creating an emergency plan for our money. Here's a quick roundup of tips from different sources.

From Consumer Credit Counseling Service:

"Start an emergency savings account. Most experts recommend having a minimum of three to six months of living expenses in an emergency fund. This fund can provide financial security in the event a hurricane hits, and can greatly reduce the stress of recovering from a major storm or other disaster. These funds can be used to make disaster repairs, cover insurance deductibles, or pay monthly bills if your income is interrupted by job loss.

Review your insurance coverage. Review your policy and make sure you have the proper amount of coverage to repair or replace your home and belongings. Pay special attention to deductibles that apply to specific events, such as hurricanes, which can be a percentage of your home's value. Also review your flood coverage, which must often be purchased separately from your homeowner's insurance. You do not want to be in the position where you need coverage that you thought you had, but do not.

Secure critical documents. Take some time to make sure that your critical documents are in a safe, secure place and could be taken with you if you have to evacuate. Collect critical paper records and if you have records on your computer, be sure to make a backup and store it away from your home. Documents you will want to secure include identification records (driver's license, green card, passport); social security and tax information; titles, deeds, and registrations for property and vehicles owned; insurance policies; credit card, bank and investment records; birth certificates, marriage certificates, and wills. Invest in a fire-proof box or safe-deposit box to keep these records secure.

Review your "what if" scenarios and make a plan. What if your place of employment is damaged and will close either for a few weeks or indefinitely? What if your employer is ready to reopen but schools are still closed and you don't have a place to bring your children? What if your home is damaged and no longer safe to live in? It is a good idea to think about all the ways the storm could impact your life and what you would do if that happened. For example, if your place of employment will not reopen for weeks or months, do you have an emergency savings fund to carry you through? Is there another place you could work in the meantime? The rebuilding effort following a storm often creates new job opportunities. Talk to friends and neighbors about sharing the childcare responsibilities until school reopens so that you all miss as little work as possible."

Here is a roundup of emergency preparation tips from the folks at Wise Bread:

From Will Chin: "I like this tip from New York Times about creating a secure USB disk backup with all your essential financial info. Linsey Knerl has a good tip about how to prep your freezer when you know power will fail."

And from Myscha Theriault: "Frugal hurricane prep - we are just gearing up for that as well. A couple of things we're doing:

Buying cases of things like cracker snack packs, dried fruit and shelf-stable things

Making sure we have multiple propane tanks filled for both our grill and our Coleman two-burner camping stove. This will help us not have to order takeout as much when the power goes out.

Extra containers for water storage."

______________

Sharon is the author of the Frugal Duchess: How to Live Well and Save Money and a contributing author in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

How to Unspoil Kids: A Crash Course from Money Magazine

2009-05-18T22:52:00.001-04:00

What do you give to a teenager who has a lot of stuff, including a $1,700 designer purse? The answer: A brown bag of reality.

The June issue of Money magazine offers an insightful and practical guide for parents seeking to "unspoil" their kids. The piece offers solid advice for parents who have lost income or face layoffs. Here's a quick overview:

The problem:

"We've been extravagant with our kids and ourselves," says one mom. "Now we're readjusting."

The solutions:

Downsize birthday parties: Veto extravagant birthday parties.

Fewer gadgets: Parents are declining to replace misplaced electronic toys.

Yanking credit lines: Shopping trips fueled by plastic credit cards have been grounded.

How to correct bad financial habits:

Full disclosure: With complete honesty, identify how badly your child has been spoiled and how you have contributed to the scenario.

United front: Parents and other adults involved in a child's life have to stick to the same rules about money, spending, presents and other fiscal habits. Kids will exploit holes and inconsistencies in the financial network.

Recruit the kids: Offer age-appropriate explanations and lessons about the current economic environment and family finances. Teach children and teens kids how to budget their money and allowances.

Be a role model: Money offers a three-point plan for parents: 1) stop spoiling yourself, 2) be transparent about your own spending and saving priorities and 3) "stick to cash."

Build strong work ethics: Household chores and part-time jobs create a solid connection between the value of hard work and the value of a dollar.

Ignore whining: "As bad as you feel, don't cave," says Money magazine. "Doing so sends mixed messages and teaches that pushing back works."

______________

Sharon is the author of the Frugal Duchess: How to Live Well and Save Money and a contributing author in Wise Bread's 10,0001 Ways to Live Large on a Small Budget.

Wise Bread Book Excerpt: DIY Ten-Finger Discount

2009-05-17T12:00:00.001-04:00

A 10-finger discount? Without theft or fraud, I score big savings with my manicured hands. Through careful maintenance and do-it-yourself enamel, I create my own 10-finger discount.
After a visit to a salon, I follow these steps:

• Let the paint dry. Meditate, breathe deeply or count to 1,000. The goal: Keep your mind active and your hands still. This Zen-like approach to nail polish will preserve a manicure. That's because nothing fades faster than smudged, nicked or dented nails.

• Wear a top coat: a glaze of clear polish will serve as an invisible barrier between your manicure and the world. Clear polish works like slipcovers on a sofa. It's all about preservation. So, beginning 24 hours after a salon visit, I apply clear polish every day.

• Cover up: I clean with gloves, since washing dishes, gardening and other daily activities can crack, scratch and chip our nails. For protection, wear appropriate gloves -- rubber, canvas or cotton -- while completing household chores.

A DIY manicure is also a money-saver. Groom and polish your own hands for less than 50 cents a session, compared to salon visits that typically cost between $10 to $25 per visit, plus tax and tip. Here's how I give myself a manicure:

• Pay attention. Professional manicurists have a variety of tricks for softening, filing and painting nails. Watch and learn.

• Buy the right tools. It's easier to create a salon finish if you have the right tools, including a nail clipper, a pumice stone, files and enamel. Don't forget the cotton swabs and nail polish remover. Those tools make it easier to tidy up whenever you paint outside the lines. There are also great painting kits that make it easy to apply a French manicure.

• Be patient. Painting nails is like meditating. Focus, breathe and concentrate on a small canvas of life. Don't be afraid of making mistakes; goofs can be removed or painted over.

Editor's Note: This excerpt--written by Sharon Harvey -- is from 10,001 Ways to Live Large on a Small Budget, a Wise Bread book coming out Monday, May 18! It's the best of the personal finance blogosphere! In addition to the Wise Bread writers , 10,001 Ways to Live Large on a Small Budget also features top finance bloggers JD Roth (Get Rich Slowly), Trent Hamm (The Simple Dollar), Leo Babauta (Zen Habits), and Sharon Harvey (The Frugal Duchess).

Here's more info and a peek inside the book.

______________

my other book:

@ Amazon.com
@ Barnes & Noble
@ Borders
@ Target.com

Tomatoes & Celery Taught Me How To Save More Money

2009-05-15T17:45:00.000-04:00

An assortment of organic vegetables taught me how to pay myself first. Thursday was payday, and I treated myself to a pint of organic cherry tomatoes, a small container of humus dip and celery -- all sale items. I added a handful of round crackers to the mix.

My lunch plate was inviting with the bright red tomatoes, the green stalks and the pale blond humus. But the bland white crackers caught my eye. I love carbs and I reached for a handful.

And like a public announcement for the food pyramid, my hand paused over the carbs. As a carb-loving woman, I knew that I was going to get my fix of wheat, sugar and salt. And then, after I was stuffed with crackers, I would eat the veggies with whatever appetite was left. And if I didn't finish off the veggies, I could save them for a snack.

I almost swallowed that carb-filled lie. But I knew -- for me -- carbs are like discretionary spending and veggies are like savings goals. And I knew that with a carb-driven rush of energy, I would speed through the afternoon without taking time for a late afternoon snack of organic veggies. So much for good intentions.

So I ate all of the veggies first, and then I dipped the crackers into the humus. After lunch, I went to the cash machine and checked my bank balance, which was flush from an after-payday, pre-bill paying rush of cash. I hit the transfer button and moved some money from checking into the savings account. That way, I paid myself first and saved my carbed-out binge for later or never.

______________

my book:

@ Amazon.com
@ Barnes & Noble
@ Borders
@ Target.com

Graduation Present: A Financial Lesson Plan For Seniors

2009-05-14T21:30:00.000-04:00

What Every Graduating Senior Needs to Know About Money," that's the title of this guest post from Consumer Credit Counseling Service:

"Here are a few things every graduating senior needs to know....

How to create a budget – Every high school senior needs to know how to create and stick to a budget. Start with the basics—help them analyze their spending habits, create financial goals, and set spending priorities. Work with them to develop a budget, estimating their monthly income from jobs, babysitting, allowance, etc., and monthly expenses—everything from entertainment, gas and insurance costs, cell phone, and other expenses that they are responsible for. If they are moving into an apartment with a roommate, they need to consider what would happen if that roommate suddenly leaves—how will they handle the bills on their own?

How to use a checking account – Whether your child is heading off to college or starting down their career path, they will need to know how to manage a checking account. Have them take responsibility for some of their own expenses, even if you are providing the income, and let them use their checking account to pay the bills. Have them sit with you when you pay the monthly household bills so they get an idea of what it takes to cover groceries, utilities, rent, and other expenses. Consider having them sign up for a CheckWise course at http://www.cccsinc.org/, which will help them learn to manage an account responsibly and may help them be approved to open an account at a local financial institution.

How to save – If your son or daughter doesn’t already have a savings account, help them open one. Then talk with them about developing a savings plan and setting aside a certain amount of their income each month for savings and to cover unexpected expenses. Consider matching some of their savings. This is a great way to teach them the relationship between building a savings account and the positive rewards that follow.

How to use credit cards – Many college students fall prey to credit card offers and quickly get in over their heads with credit card debt. Teens and college students should not apply for a credit card until they have a job. A responsible first step might be getting a debit card that is tied to their checking or savings account and will prohibit them from overspending.

How to protect their credit score – A credit score tells potential lenders how well you have used credit in the past and how likely you are to repay in the future. It impacts the types of loans you will be approved for and the better your credit score, the better interest rates you will receive. Have your high school senior pull their credit report. This can be done for free at http://www.annualcreditreport.com/. If they haven’t established a credit history, they might not have anything on their report, but it is a good idea to monitor the report on a regular basis. Remind them that a credit report is a record of their past financial transactions and that an important part of using credit wisely is to annually review their credit reports. Checking your reports helps you spot errors and serves as a safeguard against credit fraud.

“For most young adults and college students, it isn’t typically a single event that leads to financial crisis, but a lack of basic money management skills—skills they won’t likely learn in school,” said Jessica Cecere, president of Consumer Credit Counseling Service (CCCS) of Palm Beach County and the Treasure Coast.

“Common sense and goal-setting can put students in charge of their money and on a steady financial course. Parents need to take the lead in providing them with the information and hands-on practice that will lead to sound financial management down the road.”

--source: www.cccsinc.org

______________

Catch Me on Twitter: Mavs & Nuggets Post-Game Chatter

2009-05-13T21:59:00.006-04:00

Last night, I was blown away by Dwight Howard's soft-spoken, verbal smackdown of Magic Coach Stan Van Gundy, (former Miami Heat Coach). Tonight, on Twitter, I'll be virtually attending the post-game news conference following the Dallas Mavericks - Denver Nuggets.

With economic prose, I'll try to capture the essence of the post-game comments.

The live post-game media conference -- available at NBA.com -- is great for sports fans, reporters and news junkies who want an instant fix of sports news.

The format provides Internet access to an unscripted question-and-answer session with coaches and top-performing players from both sides. The coaches and the players offer a lot of insightful comments about life, work and competition.

And yes, sports fan, I think Mark Cuban should offer a better apology to K-Mart's mom & family. You can be frugal with money, but never frugal with apologies or gratitude.

I plan to recap post-game comments live on Twitter after the game. Join me then or follow me later at twitter.com/FrugalDuchess.

______________
my first book:

@ Amazon.com
@ Barnes & Noble
@ Borders
@ Target.com

I Found Money in Vanilla Yogurt

2009-05-13T20:07:00.003-04:00

Peeling back the foil lid of a yogurt container, I found 50 cents. Of course, there were no coins floating in the yogurt like blueberries. But a 50-cent-off coupon was imprinted on the label. Lesson: It pays to read the fine print. Some manufacturers are spending more marketing dollars on direct-to-consumer promotions, which means that coupons and other discounts are directly tattooed on to the product.

That strategy has prompted me to pay more attention to packaging and labels. And I have been rewarded. Here's a sample of the information and promotions that I have found bundled into containers of my favorite organic yogurt brand:

Cooking Lessons: I found a recipe for strawberry muffins on one label.

Green Tip: Buying a 32-ounce container of yogurt involves less packaging/less waste than purchasing five containers of 6-ounce yogurt. In fact, on a penny-per-ounce basis, buying the larger container is like getting one extra serving free of the smaller container. That green and thrifty tip was printed on the large yogurt tub.

Free Magazines: By purchasing and saving four foil yogurt lids from 32-oz containers, I could have qualified for a free subscription to one of my favorite magazines. I purchased the required amount; washed off the labels and saved them in a desk drawer. And then my organization skills stalled. The postmark deadline came and went. The foil lids are still in my desk drawer. Maybe I'll use them to create an origami sculpture.

Meanwhile, I saved over $1 on my most recent yogurt purchase: The large tub was on sale for $3.00 (down from $3.79). I redeemed the 50-cent-off coupon, and I received a 10-cent rebate because I had my own re-usable shopping bag.

______________

my book:

@ Amazon.com
@ Barnes & Noble
@ Borders
@ Target.com

Catch Me on Twitter: NBA Post-Game Media Chatter

2009-05-12T20:36:00.001-04:00

This is an off-topic post on sports with a frugal twist: Tonight I'll be on Twitter with an instant recap of the post-game news conference following the Boston Celtics -Orlando Magic basketball playoff game.

Here's the frugal news peg: After each playoff game, NBA.com offers a live, Internet-based feed of the post-game media conference. Last night, for instance, I listened and tweeted about the post-game comments from LeBron James, who chatted about the Cavs recent sweep of the Atlanta Hawks.

The coaches and the players offer a lot of insightful comments about life, work and competition. I've grown mentally taller by listening to LeBron James and his coach.

Additionally, the live post-game media conference is great for sports fans, reporters and news junkies who want an instant fix of sports news. The format provides Internet access to an unscripted question-and-answer session with coaches and top-performing players from both sides.

I plan to recap post-game comments live on Twitter after the game. Join me then or follow me later at twitter.com/FrugalDuchess.

______________

my book:

@ Amazon.com
@ Barnes & Noble
@ Borders
@ Target.com

Gum Surgery Extracts New Frugal Lessons From My Head

2009-05-11T21:28:00.000-04:00

Oral surgery has left stitches in my mouth and a new frugal pattern on my brain. I've learned to be more frugal with time, money and words. This is what I have learned:

Talk less/work more: How much work can I get done when it hurts to talk and smile? A lot! Oral surgery deposited more time in to my work day. I'm sure that the folks in the offices and cubicles around me also worked harder because my constant chatter was MIA.
Have empathy (Part I): I used to smile when people complained about "oral surgery." Oh please, I wanted to argue, it's just another trip to the dentist. I now know the difference between oral surgery and a routine trip to the dentist. It's like the difference between having a baby and getting a pap smear exam. Both are uncomfortable, but one involves a lot more pain and labor.
Plan ahead: Why didn't I eat a huge dinner the night before my oral adventure? Why didn't I have a proper breakfast and coffee before taking on six shots of Novocaine, one ice pack and several stitches? I have to do a better job of planning. On a positive note, fasting has given me a head start on my goal of losing five pounds.
Be creative: With limited oral skills, I became creative about communicating and working. I learned to say a lot by nodding my head, lifting my eyebrows and shrugging my shoulders. I found other step-saving solutions.
Take a break: Immediately after surgery, I went to the office. I wasn't looking for sympathy. I wasn't trying to make nice with my boss. I'm not masochistic. I was a) clueless about how yucky I would feel when the painkillers first wore off and b) too stubborn to admit that I had made a mistake by coming in to work.
Rediscover thrift: I saved a lot of money because looking at food made my mouth buzz as if an angry hive of bees had landed on my gums. Therefore, I avoided most of the food, snacks, drinks, candy or other junk I am tempted to buy. And I was in no mood for recreational shopping.
Appreciate treats: I love salads, but after surgery, my menu was limited to yogurt, broth and smoothies. Therefore, I learned to appreciate all of the yummy, crunchy, chewy food that I had taken for granted.
Have empathy Part II. A friend of mine recently had major surgery, with a three-day hospital stay, blue gown and flowers. If gum surgery left me feeling sluggish and full of aches, I can imagine how she must have felt after open surgery. In fact, I feel like a brat as I review this list of complaints. It was just a bit of dental work to prepare my mouth for a new crown on an old molar.

______________

My first book:

@ Amazon.com
@ Barnes & Noble
@ Borders
@ Target.com

Prepping for College Exams Without Spending a Fortune

2009-05-10T14:28:00.002-04:00

With a 16-year-old high school student in the house, we're preparing for the college entry exam also known as the Scholastic Aptitude Test (SAT).

Paying for exam prep classes can be expensive. Prices range from $1,100 for a series of classes to about $3,400 for 26 hours of private tutoring. One private company charges $400 for an Internet-based self-study program.

We found an attractive, instructor-led prep course in the Miami-Dade College catalog. A two-week program, representing about 24 hours of classes, is available this summer for about $200.

In addition to affordable college programs at community colleges, I found several other options.

• Check out the library. The local library branch may offer free SAT preparation workshops or other resources. The Broward County Library system has offered SAT prep classes. Likewise, Miami-Dade Public Library has a ''learn-a-test'' database, with sample tests and other study tools. Log on to the library's home page and use your library card to browse through the database.

• Create a study group. Before enrolling my teen in the exam prep course at Miami Dade College, I considered launching an SAT study group with other families in my neighborhood. The group would share the cost of a tutor, and each family would be responsible for purchasing learning guides and other study aides.

• Target online sources. From sample tests to study guides, I found several free online resources. For instance, Studyguidezone.com provides model questions and ''self-improvement links,'' with step-by-step help in algebra, essay writing and other topics. The site also offers useful tips about controlling test anxiety. Other online sources include: www.testpreview.com, www.collegeboard.com and testprep.sparknotes.com. Of course, some of the online sites offer fee-based options, but the free menus typically include excellent material and study tips. ______________

Here's how to buy my book:

@ Amazon.com
@ Barnes & Noble
@ Borders
@ Target.com

Readers Prompt Me to Increase Retirement Savings

2009-05-08T16:37:00.004-04:00

Saving more money for retirement has been one of my top goals, ranked below the emergency fund (#1) and college savings goals (#2)

But recent feedback from readers about my savings priorities, prompted me to re-examine the numbers. Here's a sample of the comments that prompted me to take a second look at my financial plans, which were outlined in this post: Financial Battle: Emergency Fund vs. Retirement Savings vs. College Accounts

While you may not plan to retire, a medical condition in your age might force you to retire! Make sure you keep that in consideration. As much as we all would like to think we are invincible, you never know whether you will get cancer/Alzheimer's/arthritis/ etc and be derailed from working.

My grandmother also has no plans to retire, but I know when she has medical problems, her kids will fund her unplanned "retirement" so I am sure your kids would rather take out loans for college and have you save in your IRA! Just a thought. --Anonymous

That advice, from "Anonymous" hit a chord with me and made me think about the advice offered by flight attendants on airplanes. You know the drill: In an emergency, parents are instructed to secure their own oxygen masks first and then turn their attention to fixing masks on kids. Security begets security.

Inspired by Anonymous, I pulled out the investment statements and examined my retirement savings account. I discovered that I was saving only 4 percent of my income in a retirement account. Through an automatic deduction program, I've increased that contribution to 8 percent.

The other savings goals remain priorities. But I don't want to be a burden to my children or other relatives.

______________

Here's how to buy my book:

@ Amazon.com
@ Barnes & Noble
@ Borders
@ Target.com

10 Steps for Moms to Max Out on Money: Kiplinger's

2009-05-08T13:48:00.003-04:00

Handle your money like a savvy single woman! That's one of several financial tips for mom's from Kiplinger’s Personal Finance. Just in time for Mother's Day, the following piece caught my attention.

"Studies consistently show that by margins of 60% or more, women tend to be the ones who pay the family bills and balance the checkbook. So on Mother's Day it makes sense that Mom should give her own finances the same TLC she applies to the rest of the family. That's particularly true because the time mothers spend performing the ten most popular "Mom jobs" would add up to annual cash compensation of $122,732 for a stay-at-home mom and $76,184 for a working mom, according to Salary.com.

In the article “10 Ways Moms Can Make the Most of Your Money,” Kiplinger’s Personal Finance editor Janet Bodnar offers smart money moves for mothers:

· Think Single, Even If You're Not. Don't rely on your husband or any other interested party to take care of you. But if you're in a relationship, work together; each of you contributes different strengths and a unique financial perspective. When it comes to investing, for example, men tend to be more willing to take risks, while women are more conservative. Together, you can compensate for each other's weaknesses.

· Set Up A Spousal IRA. Even if you're a stay-at-home mom, you should always have, and control, your own retirement savings. As long as your husband has a paying job, in 2009 he can contribute up to $5,000 to an IRA or Roth IRA for you, in addition to squirreling away $5,000 in his own account. That also doubles the tax breaks and savings power available to you as a couple.

· Make Extra Retirement Contributions If You're 50 Or Older. You can kick in an additional $5,500 to your 401(k) and an extra $1,000 to an IRA. These catch-up provisions are especially helpful for moms who entered the work force late, after their kids were grown, or delayed their own saving to pay for those braces or that college tuition.

· Buy Life Insurance. Statistically, women tend to be the survivors. And loving as your relationship may be, you can't count on your spouse to provide for you and the kids if he's not there. As a rough rule of thumb, figure that insurance coverage should equal eight to ten times your total household income. When figuring your insurance needs, consider the income you earn outside the home or the amount you contribute to the family with the services you perform. To shop for a low-cost term insurance policy, go to Insure.com or AccuQuote.

· Write A Will. If you don't have one, your state's one-size-fits all estate plan kicks in, and it may not be tailored to your needs or your children's. For example, as the surviving spouse, you may get only a fraction of your husband's assets, with the rest going to your children. If you and your spouse both die, the state decides who will raise your kids. With a will, you call the shots.

· Name A Guardian. Think of a will as a way to protect your most precious assets -- your children -- if something should happen to you and your spouse while the kids are still minors. Parents are often tempted to rely on informal guardianship arrangements. But those arrangements don't have legal standing. Without a will naming a guardian, the courts will decide who brings up your children, and you'll have no say in the selection.

· Get What You Deserve. Make sure you're the beneficiary on insurance policies, pension and profit-sharing plans, IRAs, 401(k)s and other retirement plans. "
--source: Kiplinger’s Personal Finance

A link to the article in its entirety.
______________

Here's how to buy my book:

@ Amazon.com
@ Barnes & Noble
@ Borders
@ Target.com

A Gift of White Gardenias: A Frugal Lesson

2009-05-06T23:24:00.001-04:00

A pair of white gardenias -- freshly plucked from a bush -- provided me with an unexpected gift and a life lesson. Here's what happened:

Two days ago, I walked from the bus stop to my home. I said hello to familiar faces; we exchanged small talk and smiles. But I stepped outside my normal routine and said hello to a stranger. She was watering a garden, scented and accented with white gardenias. Even with my diminishing sense of smell, the scent of the flowers had reached me from a short distance.

She responded to my greeting with a smile. Encouraged, I complimented her gardenias, which were stunning. As a gift, she snipped a few flowers, complete with leaves, and presented them to me.

Her gift yielded a few lessons about life and money.

Speak up. By stepping outside of myself, I opened the door for a neighbor's generosity. A short greeting and a heart-felt compliment produced a small and unexpected bonus.

Be generous. The gardenia woman usually picks most of the flowers for her own floral arrangements, but she always saves a few on the bush for passersby who admire the flowers. Her philosophy prompted me to think of random acts of kindness that I can offer. What are the areas of abundance in my own life and how can I be more generous? Her generosity did not cost her much and meant a lot to me.

Listen. After presenting her gift, the woman offered suggestions about creating floral arrangements. Her No. 1 suggestion: Fill a small bowl with water, and let the gardenias float on the surface. I listened carefully, wishing that I had paid more attention to others in my life when they had offered free lessons in life, money and relationships. But mostly, I felt grateful that I have -- finally -- developed enough patience to listen to wise strangers and to stop to smell white gardenias.

______________

Here's how to buy my new book:

@ Amazon.com
@ Barnes & Noble
@ Borders
@ Target.com