When you’re buying a new home (and that could be a new build or a used home that’s new to you) you are caught up in a whirlwind of things to do, people to see, papers to sign, and plans to make.
Most of all, you’re excited. And rightly so.
Then, moving day comes. Once all the boxes are unloaded, and the furniture is shoved roughly into the right rooms, you grab a coffee and take a breather. And that’s when it dawns on you. This is only just the beginning.
As a new homeowner, there are whole lists of things you need to take care of, and almost all of them cost money. Sometimes, a lot of money.
So, if you’re planning to buy a new home, have just signed the paperwork, or are moving in next week, this list is for you. And if you know someone who's moving in, be a buddy and warn him or her as well.
Note: The figures next to the titles are rough guides based on an average sized U.S. home (2,700 sq. ft.) with a typical yard (1/5th of an acre), but obviously they could be much higher or lower depending on the size of your home, its location, and the condition it’s in.
“Oh, look at all the windows! It’s so bright, so spacious, the views are lovely!” Well, yes they are. But you don’t want people viewing you at night, or looking in whenever they want, so all those windows need coverings. If it’s a new home, you’re going to be spending hundreds (and probably thousands) of dollars on blinds, curtains, curtain rods, tie backs, valances, and shades (even more if you're not too handy and have to have someone come and fit them for you). If it’s an old home, you may be fine for a year or two, but you’ll need to decide if you want to live with the old owner’s treatments or have your own. To offset the high costs, remember to look for deals on blinds and other window coverings long before you move in.
Walking around new neighborhoods, you see all sorts of beautiful landscapes. And often, on new builds, the landscaping at the front of the house is included in the price. Hurray! Oh, but then there’s the back. And there, almost always, you’re on your own. Depending on the size of the yard and the HOA rules and restrictions, you could be looking at $10,000 - $30,000 worth of landscaping materials and labor. Want a deck or a patio? That’s even more money. And then you may need sprinklers, irrigation, and other services. If you move into an old home, that’s no guarantee of a great yard. Many foreclosed homes may have been left vacant for a long time, and a once attractive yard could be a wreck, if it was even finished in the first place. So, do your homework. See if you can hustle the homebuilder for a finished back yard too, or ask the seller to drop the price to cover landscaping. If it's foreclosed, a short sale, or some other kind of repo, guess what? Yep, you’re on your own. Time to dig into the savings.
New home builds usually include a dishwasher, microwave, and stove, with the option of a fridge/freezer, washer, and dryer. They are basic, unless you opt for the upgrades in your contract, but if you do, they could add a chunk to your monthly mortgage payment. If you buy a used home, you may not have any appliances included, especially on a repossession, short sale, or foreclosure. You could always hunt around on Craigslist for used appliances, but they won’t come with a warranty. So figure on spending a nice chunk of change when the time comes to upgrade.
Many new homes come with a Home Owners Association, and most used homes have HOAs as well. In theory, they’re a sound idea. They are their to keep the neighborhood looking great, and deal with trash collection, playgrounds, community pools, street lighting, common areas, snow removal, and so on. Of course, in practice many people hate the HOA because they extend their reach far beyond what most people consider fair. They can tell you what colors you can and can’t paint your house, what type of blinds and window treatments are allowed, what you can and can’t put in your yard, and the list goes on. Oh, and it costs you. A typical HOA can run $100 a month. Some are just a few hundred a year, while in the higher-end neighborhoods, you may not see much change out of $1,000 every month! Did you see that one coming? Before you buy, make sure you know what the HOA dues are, but remember, they can go up annually and you have little say in the matter.
That’s a very rough estimate. Clearly your particular tastes can range from Ikea to custom-built furniture, but what you need to know is that most homeowners completely underestimate the amount of furniture they’ll need. This is especially true when moving into a bigger home. You may now have two areas for relaxing, a living room and family room. You could also have a den, a library, a nook or study, extra bedrooms, guest rooms, or even a game room. Depending on what you’re moving into, you could have a very empty-looking house that needs to be filled. Get ready to go shopping.
There are a few different types of insurance you need to have when buying a home. First, you must have homeowners insurance. The average cost of this is around $700 annually, but this again varies by state. If you live in a duplex or other type of connected building, the insurance may be covered in your HOA dues or your monthly escrow. You should also have contents insurance, based on the value of your possessions. You could, of course, skip this payment. But if tragedy does strike, you could lose everything.
When it comes to property tax, a lot of people get sticker shock a year after they move into a new construction. The reason for this is simple; the taxes are based on the empty lot the home was built on. But a year later, the assessors come around and put a new valuation on the lot, which now has a beautiful home sitting on it. Many people see their initial tax payment double, or even triple, in just one year. You can also face much higher taxes based on the particular school district you live in. And of course, taxes vary greatly by state. The average property taxes paid in New Jersey are almost $8,000, as opposed to $2,000 in Colorado.
Again, if you live in the Playboy mansion that figure will be greater. And in a new one-bedroom apartment, much less. But on average, when moving into a new home, you will see utility bills in the hundreds of dollars. This can be quite a shock, especially if you were formerly in a small apartment or even living with your parents. And what’s worse, depending on when you move in, you could really get a wake-up call. Bills in the summer months can come with higher rates, so you may budget based on the winter bills, only to be unprepared for summer. The best thing you can do to prepare is ask the utility companies for the history of the property, if it’s used. If it’s new, ask neighbors who have already moved in what they’re paying. If you're first on the block…good luck!
I saved the worst till last. One of the biggest unknown expenses of owning a home is the repairs and maintenance costs that can hit you out of nowhere. If you were formerly renting, that was all taken care of. Now it’s all on you. If the boiler blows up, you pay. If the roof leaks, you pay. If strong winds blow your fence down, you pay. If vandals put rocks through your windows, you pay.
Basically, you pay. And these bills can be steep. You’ll soon find out that hourly labor costs for plumbers, electricians, and builders are usually a lot more than the hourly wage you get paid. There are standard call-out charges, which you pay before they even look at the problem. It can be a nightmare. You can, of course, buy insurance to cover appliances, boilers, A/C units, and so on, but there are deductibles to pay. And like any insurance, the small print can really bite you.
Are you a new homeowner? Did a situation or expense recently pop up that you were not planning for? Let us know.
This article was made possible by the support and inspiration of Genworth Financial, a S&P 500 insurance company with more than $100 billion in assets. Check out Genworth's website for more information on their mortgage insurance and reverse mortgages products.
Teens can be a tough audience to entertain. Their free time is precious, especially for those loaded with AP classes, sports and music commitments, work, and extra-curricular obligations. For many, down time is spent looking at screens, interacting with friends via social media and Skype, or both. So coming up with ways to engage them without resorting to digital devices is hard. (See also: Timeless Money Lessons From Teens)
But even the most restless and demanding teens will enjoy these frugal activities.
Your kids have most likely been protected from family information or just were bored or confused by your stories when they were younger. But now that they are teens, they are ready for greater honesty and more grown-up tales. Intrigue them with explanations of how grandma paid for college, why great-grandma got divorced, how family members lived during the Depression, what unpopular stances your parents took on controversial topics, and why a distant cousin ran away from home.
Teens like working with adolescent companions, being inventive and competitive. A contest that is neither sponsored by the school nor graded by school officials is especially inspiring to this age group. The research, collaboration, and execution of ideas involved in winning a competition are great sources of entertainment for extended periods of time.
For example, my oldest son assembled and entered a team in a church-sponsored dodgeball tournament. He especially wanted to win first place for uniforms and so coordinated concept meetings, shopping trips to Goodwill, and uniform construction sessions. I think he spent more time planning and executing his uniform design than he did filling out college applications. (Epilogue — his team won "best uniform," and he got into the university of his choice.)
Similarly, I envision teenagers happily and eagerly getting together to do science experiments, create engineering marvels, practice for mud runs, etc. in hopes of winning a competition. Not only is contest preparation a frugal activity, but this kind of entertainment could reap financial rewards as well as bragging rights.
Arrange an outing that you enjoy and invite one of your child's friends. At first, the teen will probably not get excited when you mention hiking in the woods, camping at the lake, or picking berries on a farm. But if a teenage buddy or a colorful friend of the family accompanies you on the trip, then they may actually look forward to such activities.
Many teens who are otherwise sullen and whiny on a family only trip often become polite and even fun people when they are around those who are not mom, dad, and sibling. Friends provide both a distraction from what the teens might consider boring and serve as entertainment through conversation, humorous insights, and funny stories.
Shopping is entertainment for many people, including teens. But rather than seeing how much your teen can spend, set a budget and let her have fun putting together outfits for nearly nothing while perusing fashion apparel and accessories at discount stores, consignment shops, and thrift shops.
Teenagers will go wherever the food is. Serve a meal outside on your patio or deck to get them out of their element. Take a picnic to a nearby park, careful to find a spot where friends or classmates are unlikely to appear. Linger to spot wildlife (we have squirrels, rabbits, and the occasional deer in our backyard), enjoy the view of a pond at the park, or watch the sunset.
Catch a theater performance at one of the local high schools, colleges, universities, or community centers. Many of these are free or cost $5 or less, though it’s wise to check the ticket prices and suggested arrival times instead of making general assumptions. Plays can be frugal sources of entertainment for teens, especially if their friends are performing or helping stage the performance.
Free or low-cost concerts are also often available at area schools and community gathering places. If friends of your teens are performing, they may like to see and hear the concert band, jazz band, orchestra, chorus, or choral groups.
In addition, look for times when professional groups perform at low-cost venues, such as college campuses, street festivals, and community events.
Go to a ballgame, track or swim meet, or other sporting event at the local high school or college. Most are priced reasonably, and some are free. Athletic competitions are often gathering places for teens, so they can enjoy being a spectator and hanging out with friends.
For those who live in the country or suburbs, visiting a large city can be an adventure. Teens may like to do simple things that city dwellers find tedious, like ride the metro, commuter train, or light rail to the city center. They may enjoy just walking around, doing some window shopping, analyzing architecture, and sampling treats sold by street vendors.
If you’re looking to entertain city kids, take them to the country. Many rural areas and small towns offer attractions that teens find entertaining even if they won’t admit to having fun.
Plan ahead to make sure there is something to do. Look for outings to natural attractions like waterfalls and mountain vistas; quaint downtowns with full-service stores, fine art shops, and old-fashioned diners; and interesting historical sites.
One of my son’s friends recently got a low-priced road bike to ride around town and in the mountains near his home. When students were asked to submit photos to the school newspaper to show what they did over spring break, he was featured smiling broadly with his bike and helmet next to photos showing teenagers in much pricier locales such as the Caribbean, ocean cruises, and amusement parks in Florida.
Take teens on a spin on lightly traveled roads. If you don't want your teen on the road, visit mountain bike trails or multi-use trails.
Another friend of my son’s is an aspiring filmmaker. I’ve seen him recording quirky teen activities (such as the aforementioned dodgeball tournament) and imagine that he spends much of his free time in this pursuit. Likewise, teens with strong visual or storytelling abilities will be entertained by capturing images on camera.
I know that a lot of teens find anything that might involve learning to be painful. But some museums are so well designed that even boredom-prone teenagers may consider them entertaining. Newer and updated museums with lots of ways to interact (watching video, listening to audio, playing trivia games, touching stuff, etc.) as well as zoos, aquariums, and art galleries can be enjoyable.
Many teens will eventually go to college and, though visiting campuses is most prominently featured on the parent’s to-do list, such a trip can be entertaining for adolescents. There are campus tours focusing on academics as well as those highlighting architecture. Plus, there is usually free or inexpensive entertainment, such as plays, concerts, and sporting events along with lectures and campus festivals.
Creative teens are entertained by participating in artistic endeavors, particularly those not associated with academics or grades. They especially enjoy working with other teens, either on the same project or side by side (just like when they were younger). Challenge them to make art out of trash for a fun project.
Teens can enjoy going to parks without being loiterers or worse. There are lots of fun and frugal activities for teenagers, such as renting canoes and paddleboats, swimming, playing tennis, or strolling in the rose garden.
Add a bit of mystery to an otherwise dull activity — teens will love walking at night. Look at the stars and planets, planning evening outings in sync with astronomy events.
Choose a safe, preferably out-of-the-way place. Be careful, carry a flashlight (or wear a headlamp), and wear reflective gear.
Pick-up ball and similar spur-of-the-moment games were a mainstay of my childhood, but my children never wandered miles from home to an open lot to play with neighborhood kids. Such things just didn’t happen because well, kids rarely walk around neighborhoods unattended, and an open space without organized sports is rarely available. By the time they are teens, though, they should be fine playing pick-up basketball games or working out in public areas accompanied by friends.
Most of the teens I know are involved in an organization that requires community service. Though many of these hours are spent fulfilling obligations, volunteering can be entertaining, particularly if the teen is pursuing an activity that he really enjoys, working alongside friends, and getting a free meal. My sons, for example, like the country ham biscuits at the church's yard sale and pizza at community recycling days.
Beyond regularly scheduled volunteer activities are even more intriguing and engaging opportunities. For example, one of my sons enjoys hanging out with younger kids in the inner city and their adult teachers in a childcare setting, which syncs (partly) with his career goal of teaching at-risk high school students. A friend’s son loves serving at the animal shelter. Find meaningful volunteer gigs to entertain them while helping others.
By the time they are 13, your children ought to be able to entertain themselves. But, sometimes, they can use a prod toward a healthy, wholesome, and frugal activity.
What do the teens in your life do for cheap entertainment?
Welcome to Wise Bread's Best Money Tips Roundup! Today we found some awesome articles on steps to cheaper food, dealing with debt collectors, and homeschooling on a budget.
36 easy steps to cheaper food! — To save money on food, warm your stale bread in the oven to make it taste fresh again. [Think Money]
6 Tips For Dealing With Debt Collectors — When talking to debt collectors, be sure you know your rights. [SavvySugar]
7 Ways to Homeschool on a Budget — Homeschool your child without breaking the bank by utilizing the library and buying resources used. [Christian PF]
3 Essential Tips To Help You Choose The Best Credt Card Processor — If you are choosing a credit card processor, remember that everything is negotiable. [Girls Just Wanna Have Funds]
The Ten Habits of Passionate People — Passionate people take the time to workout and keep a gratitude journal. [PickTheBrain]
Life After College: Four Rules for the Real World — After college, remember that even when life gets tough, it still goes on. [LearnVest]
Save Money On Interntional Calls While Traveling — Save money on international calls when traveling by replacing your SIM card. [Cash The Checks]
Insurance You Need and Don't Need — Chances are you don't need pet insurance or fight insurance. [Free Money Finance]
What is Attachment Parenting? — One of the principles of attachment parenting is to feed with loe and respect. [Parenting Squad]
How to Make Your Dreams a Reality — Make your dreams a reality by making a vision board. [Stepcase Lifehack]
Money Crashers Tweetchat (#MCchat) — Don't miss Money Crashers weekly #MCchat at 1pm PST! They will be giving away prizes!
Be sure to check out our News & Events Calendar to see all the awesome upcoming events in the personal finance world!
During the last year, I took the plunge and purchased a tablet device for travel and home use. Here are my top reasons for doing so, as well as my reasons for finally purchasing the one I did. (See also: 6 Ways to Save Money on iPads, iPhones, and Macs)
If you make your living staring at computer screens and fine-print documents a great deal of the time like I do, you welcome any opportunity to avoid reading documents on tiny smartphone screens. Even with your favorite bargain eyeglasses, it can still be a daily ordeal for those permanently on the move. Granted, tablets are still much smaller than regular computers. But I don’t always have time to wait for a larger machine to fire up, or even to take it out of its packed hiding space between flights. A tablet device gives me a nice middle-of-the-road alternative.
If I’m stuck waiting to check into my room or need to run a scan on my laptop, watching a show for free on Hulu or with subscriptions I’ve already purchased on Netflix or Amazon Prime keeps my entertainment costs stable when I’m on the road. There’s no need to track down the nearest movie theater while I wait or rack up the room tab with pay-per-view flicks when my tablet device will serve me just fine. In fact, paid in-room movies are one of the most easily avoided travel expenses if you travel with a tablet.
While I find content creation on a tablet device to be an exercise in extreme frustration, I do find social media work to be somewhat doable, and the chances of me fat-fingering in the wrong characters are far less likely on my tablet device than on my smartphone. Granted, I prefer the apps I use on my laptop for this type of work, but even I have to admit it’s a thousand times easier than on the smaller screens of Blackberries and Androids.
Even if you’re used to relaxing in the comfort of Priority Pass lounges as opposed to the hard departure-gate seats, that doesn’t mean the television will be tuned to something you want to watch. Very often, it’s sports coverage, which really isn’t my thing. Or, if it is news, it isn’t on a news network I consider informative enough. With my chosen tablet device and a Wi-Fi connection, I can watch live-streaming international news from my favorite source. If there’s lots going on in the immediate area, plugging in a set of headphones helps me hear a bit better and keeps me from disturbing others.
If you need to get some extra work done during flight delays, a tablet lets you review work documents and research-related book titles regardless of whether or not you have internet access at the airport you’re stuck in. Another common irritation is when the hotel you’re staying at doesn’t have your room ready on time and doesn’t provide Wi-Fi in the lobby. At least I can review necessary items during that downtime from my device, even if there aren’t any electrical outlets available and a business center isn’t on the venue’s list of amenities.
One of the main travel supplies I purchase whenever I embark on an adventure vacation is a detailed guide book. Sometimes more than one. Lonely Planet is usually the first purchase, and if there are a fair number of archeological ruins and attractions to see where I’m going, then a Blue Guide also makes my short list. Since most guide books are available electronically now, there’s no need to purchase quite so much paper to carry along in my backpack. I like the fact that technology has finally become convenient enough to allow me this additional green perk.
If you prefer to travel light, then a tablet device is a great gear item to add to your packing list. You’ll take up less space than with the above-mentioned guide books, and tablets slide easily into the many flat pockets on various types of travel gear. You know, the kind that can only hold one item, and even that had better be flat? Even if you only skip one book, you’ll be ahead of the travel game space-wise.
While there are perks and quirks with any tablet device, there were several reasons why I purchased a Kindle Fire as my product of choice. One major point was content creation. It’s tricky from tablet devices in general, so I saw no need to pay the price of a fully functioning laptop for a tablet that would be nothing but annoying to develop and submit content from, even with a companion keyboard. I realize others have different travel needs than I do, though, so I welcome any comments about your personal tablet choices in the comment sections below.
It's a symptom of our crazy consumer culture that how to get rid of stuff is such a common topic of discussion. Stuff just seems to accumulate in American homes like plaque in our arteries, and too much of it can really drag down the efficiency of your home.
Since my family is moving across the country in less than two weeks, getting rid of stuff has gone from a "I really should do that" item to a top-of-list emergency. My goal is to not have to pay to have anything hauled away. Here are 10 ways I've been clearing out the excess. (See also: 25 Things to Throw Out Today)
If you have an item with enough value to make it worth your time, by all means list it for sale online. In our current move, I'll be listing our dining room table and couch on Craigslist. I use eBay for high-end children's clothing — in my experience, anything that sells for less than $20 is not worth the time it takes to do an eBay listing and mail it off. Of course, you have your own idea of what is worth your time, and it may differ from mine.
For books, DVDs, and video games, it can be convenient to sell on Amazon or another site where you can enter the title or barcode info for quick product listing.
My experience with rummage sales over the years is that they have not been worth the time I took to plan and conduct them. For instance, if my husband and I made $130 during a five-hour rummage sale, and figure we spent at least five hours planning it, that works out to earnings of $13 per hour, split between two adults. Since either of us can make much more than that working, it seems like we'd be much better off giving the junk to charity.
And yet, I find myself answering the siren song of rummage sale again this weekend. Oh well, at least some people make money on their garage sales, so maybe I'll get lucky this time.
I have mostly done this with children's clothing, but in the slow economy, more and more shops are opening up where you can sell adult clothing, furniture, and other items at consignment. This is nice because once you drop the stuff off, you don't have to worry about how long it takes to sell — just check with the store later to find out if you made any money.
You can also check with specialized shops such as used bookstores and video game stores, where you might get paid upfront. Today I received a crisp $10 bill from Gamestop in about five minutes. That sounds great until you hear that I had just handed over 15 old video games, some of them still in sealed packaging. My lesson on that one was that it doesn't pay to procrastinate when selling games and other media or electronics — the older they get, the less you'll get.
You don't get paid for stuff you unload through Freecycle, but you do earn the right to request items from other members. I really like using Freecycle both to pick up needed items and get rid of unwanted ones. It's my experience that someone will claim just about anything you offer on Freecycle. The downside is that — at least in my local group — it's not that uncommon for people to fail to pick up what they've claimed, leaving you wondering how long you should leave the item sitting on your porch.
Find a local Freecycle group here. A newer sharing site is called OhSoWe.
Our household has been the beneficiary of friends' moving days in the past, so of course we will pay it forward by sharing some useful items with friends. Items I will give away include houseplants, half-used jars of spices and other food, and a vacuum cleaner.
If you have a large number of boxes or bags or furniture to get rid of, call a local charity thrift store, and you may find they'll be happy to send a truck over. (That's why I woudln't pay to have stuff hauled away, unless it was truly too useless even for a thrift store.) Some charities regularly schedule neighborhood pickups — I periodically get calls from both AmVets and Purple Heart to arrange pickups, and I almost always have a couple bags of stuff to put out. Don't forget to get a receipt so you can deduct the estimated value of the items from your taxes.
Sometimes you have some nice, newer items that you can't use, and you don't feel like sending them to a junk shop. I'll be giving some gently used kids' games to a local children's organization, and some school supplies to the kids' school.
Most communities charge extra to have the garbage crew haul off a piece of furniture or other large item, but don't worry — in my experience almost anything remotely useful or recyclable will walk off on its own if you put it on the curb or in the alley a few days before trash day. The item we most wanted to get rid of was an old pole to a basketball hoop we'd pulled out of our yard — it still had concrete around the base and was extremely heavy. It took a few weeks of waiting, but eventually a scrap metal collector rolled through our alley and managed to haul the thing away.
Once, when I was in Tokyo, I decided I no longer wanted a book I had brought along and tried to leave it in a public place for someone to pick up and enjoy. No such luck. People in Japan are so helpful that I was chased out of a hotel lobby, a cafe, and a taxicab with my book. It became a game for my friend and me, and we finally successfully ditched it in a cavernous arcade.
Here in the United States, it's easy to ditch your possessions in public and hope that serendipity finds them a nice new owner. Of course, I don't mean you should litter or dump some junk on the side of the highway. For books, do this in cafes or on public transit. If you live in an area with a lot of homeless people, you can pretty much deposit used clothing or shoes on any street corner or alcove and count on them going to good use.
I haven't tried this myself, but there are online networks where you can trade an unwanted item for something you want. Palcycle has borrowing, selling, and trading.
An aunt of mine recently asked me what the Internet was for. Of course, she has email and knows how to use a computer, but she just couldn’t understand why I found having access to all that information so exciting.
“Well, I can look up anything!” I told her — and I often do. Whether I’m searching for statistics for a story I’m writing or I’m just trying to remember what that great restaurant we went to a few years back was called, I can call the information up any time I want.
My aunt, though, is from a different generation — one that I have a hard time even imagining. If you wanted to know something, you could find it in a book, you could ask around, or you just figure it out for yourself. While I won’t be giving up my Internet connection, like, ever, I’m wondering why I don’t take the time to figure things out myself more often, rather than running straight to Google. Come to think of it, there are some good reasons for taking the extra time. Here are a few. (See also: Can You Buy Your Way Out of the Rat Race?)
I think sometimes when we don’t know something, our egos automatically kick in. Either we don’t want to admit we don’t know it, or we want to skip over the part where we’re left feeling stupid and find the answer right away. At the same time, there really isn’t anything wrong with not knowing the answer to a question or not knowing how to complete a task. Learning those things is what life’s all about. Most people who want to understand a complex scientific theory or know the 100,000th digit of pi will probably have to visit Google, but there are many things we can solve all on our own — especially when we have to. Have you ever been stranded somewhere with few resources and been forced to find a solution to a problem? Getting that tent set up without the forgotten poles is something you could easily solve with a trip to the camping store, but doing it yourself will leave you feeling exultant — and you’ll have a great story to tell your friends. Try the same strategy when you aren’t quite as stuck.
Let’s get back to ego again. It can make learning things very difficult. Actually, it can prevent us from even trying to learn things. You can’t fail if you don’t even start. Just to be clear, I’m not speaking as someone who’s mastered the art of self-education; when my ultra-complicated recipe fails or I can’t figure out how to put the doohikey that fell off my car back on again, my tendency is to throw it aside in a huff and never go back to it. I feel stupid, and I just don’t want to go there. Sometimes, though, I manage to peek past my own pride and look at what went wrong. Often, it’s something really simple, and if I’m patient enough, a solution will usually come to me. And boy do I feel smug when it does.
There’s nothing wrong with asking friends and family for help and advice, but there’s something to be said for self-sufficiency. After all, help isn’t always available (or helpful), but chances are you’ll always be on the scene of your own personal problems and disasters. If you believe other people have the answers, why not put the same stock in yourself?
Figuring something out for yourself often involves doing something for yourself too. In many cases, this can be a great way to learn something new and save some money. Yes, your time has value, but if you aren’t busy, why not try your hand at fixing a household appliance or changing your own motor oil rather than paying someone else to do it? Google might come in handy here, but even if you pull in a few references, there’ll still be plenty of confusing bits left for you to sort out on your own. If you learn to do a few things like this, the savings will really add up.
We have access to so many resources these days, it’s possible to eliminate having to do much of anything at all (besides working to pay someone else to do it!). So here’s a salute to the art of figuring things out ourselves. I think I’ll try to do it a little more often. After all, if it doesn’t work out, I can always Google it.
Welcome to Wise Bread's Best Money Tips Roundup! Today we found some great articles on money saving workout routines, saving on your electric bill, and money tips for new grads.
Money Saving Workout Routines for a Fit Recession-ista — Instead of hiring a personal trainer to keep you motivated to stay fit, enlist the help of one of your friends. [One Smart Dollar]
14 Ways to Save on Your Electric Bill — To save money on your electric bill, put lamps in the corner of a room so they have more surfaces to reflect off of. [Budgets Are Sexy]
Money Tips for New Grads — If you are a new grad, be sure to build a financial plan and find the career that is right for you. [Narrow Bridge]
5 Things You Should Do Before June — Before June rolls around, assess your living situation. [SavvySugar]
Favorite Summer Fare for Less — Eat your favorite summer foods for less by stocking up early and growing your own herbs. [MintLife Blog]
11 Free Travel Apps to Save Money — To save money on travel expenses, consider downloading the Happy Hour or Kayak app. [My Dollar Plan]
Debit Card Fees to Watch Out For — Make sure you study your bank statements for hidden debit card fees. [The Frugal Toad]
How to Avoid Investment Scams — Avoid investment scams by steering clear or promises of high gains with low risks. [Free From Broke]
The Importance of Family Meetings — When holding a family meeting, make sure to have an agenda of what is to be discussed. [20 and Engaged]
5 Reasons to Send Your Kid Packing — By sending your kid traveling, you help them develop independence. [Parenting Squad]
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With few exceptions, I have no interest in rewards in the form of "points," "miles," or anything similar. (See also: Swipe Envy)
I've always felt this way, but I've been prompted to write this by a particularly annoying commercial. What sets me off is when the actor playing the customer talks about how his points are "like money in the bank."
Of course, my response is, "You know what's more like money in the bank? Money in the bank!"
Then he goes on to talk about how he can "spend" his points to get stuff he wants.
To which I say, "You know what else you can spend to get stuff you want? Money in the bank!"
(I actually do say these things — out loud, at the TV. So far, fortunately, my wife is managing to find my reaction amusing rather than annoying.)
There are two circumstances when taking points, miles, or any similar construct is a win: When someone else is paying (but you get the rewards), and when the company screws up.
When Someone Else Is Paying
The modern origin of these schemes is frequent flier miles. They were invented as a way to incentivize business travelers to chose a particular airline for their company-paid travel.
The issue was that business travelers had a lot of control over their business travel. Even within rules that required choosing the cheapest fare, the traveler had considerable influence, because they could control the details of when they could leave and when they had to return. If they wanted to travel on Airline X, it was easy to schedule meetings such that traveling on Airline Y would require an extra overnight stay or any extra day away from the office.
The reason there are so many complex rules about using and transferring frequent filer miles was to make it difficult for companies to insist that their business travelers use them for business trips or turn them over to the company.
But this is only an advantage when the person who's getting the miles isn't the one paying the fare. When you're paying for your own ticket, frequent flier miles are just a way to prepay for future trips that you may not even take.
A special case of this is when you can get your money back, but still keep the points. For a while there was a deal to let coin collectors buy directly from U.S. Mint at face value. People were buying coins with a credit card that offered miles, and then just depositing the money at their bank at face value.
When the Company Screws Up
It doesn't happen often, but sometimes a company will screw up. There was a famous case a few years ago where a company offered free travel for people who bought appliances. Unfortunately for the company, the people who designed the scheme got careless. They were thinking about large appliances like refrigerators, but wrote rules that let small appliances like vacuum cleaners and bread makers count. People quickly figured out the cheapest set of small appliances that would entitle them for the trip they wanted to take and bought those appliances in great numbers. The company ended the program as quickly as it could, but still ended up losing a lot of money.
Except for those special cases, you're almost always better off taking the cash — using a cash-back rewards card, or buying from a business that doesn't load you up with a stupid points-based rewards program.
I know some people parse these schemes very closely and find that there are circumstances where they can come out ahead. (See, for example: Credit Card Rewards Programs and Maximizing Rewards Programs with Points.com.) To a first approximation, I'm automatically doubtful.
I have a credit card that provides cash back. I could get one that provides miles instead. But I know that a credit card company that provides miles is buying the miles from an airline — and it wouldn't be doing so unless it's getting the miles for less.
The airline is glad to sell miles to the credit card company cheap, because it knows that it comes out ahead in a dozen different ways. It sets the rules for how much the miles are worth and when they can be used. Plus, it knows that most of the miles will go unused for months or years — and that some miles will never be used.
Even the people who do the careful parsing, and think they're getting their miles cheap, sometimes end up being unable to take the trip that they think they're getting such a good deal on — a work emergency or a family emergency or just a change in circumstance will force a change in plans, and there they'll be with a bunch of frequent flier miles.
Prefer cash. You can spend it on whatever you want, not just on whatever the firm that offers points or miles wants to sell you.
Affordably purchased in travel tins at places like Sally Beauty Supply, bobby pins are one of my go-to travel and household items. They serve a number of purposes, as this list of 25 demonstrates. (See also: 28 Innovative Uses for Binder Clips)
If you want to mark a page (or multiple pages) in a novel, cookbook, or research title, you can always use bobby pins. They are typically coated, which prevents any rusting. They also take up minimal pack space, which makes them one of my favorite pieces of travel gear when I’m on the road.
Rather than pack extra paper clips on the road for projects, I’ve started using extra bobby pins to get the job done. Since I typically don’t work on anything that has thick stacks of paper while I’m on the road, they work out fine.
Obviously, bobby pins can help you have great hair for less. French twists, hair bumps, and more can all be crafted by having a few of these on hand.
If you need to thread a ribbon, drawstring, or small elastic through a hem or waist band, then a bodkin can make sure this happens as smoothly as possible. If you don’t have one on hand, there are many situations where a bobby pin will serve your purposes just fine. Depending on the thickness of what you’re trying to pull through, you may need to either tie on the end or simply push between the sides until it reaches the curve on the top.
Zipper pulls can break, particularly with the rougher handling that typically occurs during adventure travel. If you need to have a working zipper on your backpack or windbreaker, simply raid your travel stash of bobby pins and thread one on wherever needed. If you’re in a pinch, a key tag label or safety pin works too.
Part of packing light for budget travel is limiting your wardrobe selection. So if a hem starts to unravel on a skirt or pair of dress pants during a day of walking tours and museum visits, dip into your tin of bobby pins again and use a couple of them to hold your hem in place until you can mend it. They won’t tear at your skin like straight pins or tear holes in your nylons. If you happen to wear a great deal of black like I do, then having a tin in that color (even if your hair isn’t) isn’t a bad idea.
From what I understand, it’s typically a bit harder to do this with just one pin like we see all the time in TV shows and movies. Apparently, having two bobby pins at your disposal makes lock picking a bit easier. As with anything, practice makes perfect. Personally, I’ve never learned how to do this, but if you’re the type who locks yourself out of your apartment or vehicle often, then it’s probably a skill worth developing.
While I always bring along a selection of needles and a small supply of thread colors for simple sewing tasks when I travel, I tend to leave behind straight pins, as I mentioned above. If you need to hold together two pieces or thicknesses of fabric in order to get a mending job done, then you can also use bobby pins.
One of my favorite kitchen hacks is using binder clips and bobby pins to close snack bags, coffee packages, and other things when they are not in use. You can also use bread ties, paper clips, or a bit of tape. However, most of these suggestions aren’t available to me on the road, and bobby pins are. They are a great way to help keep food fresh and contained in hotel rooms.
Granted, it can often take a larger, sturdier hair pin to make this happen. And while I certainly wouldn’t recommend it over a regular screwdriver for stocking your tool box, it’s nice to know you have option in a pinch. Straighten a hair pin and use the edge on the flat side to get you through your situation.
You mainly need to use the smaller bobby pins for this, but if you don’t have an eyeglass repair kit on hand with small screwdrivers, you can use one of the tips to get the job done.
Threading bobby pins through the loops of your more elegant Christmas ornaments and then securing them to the tree branches is a great way to turn a beauty item into a multipurpose home supply. They also pack efficiently when you’re putting away your supplies after the holidays.
Overpriced hotel meals are one of several easily avoided travel expenses, provided you can access affordable food items and store them in your room. Since knives and multi-purpose tools are virtually impossible to fly with unless you check a bag, using bobby pins to poke through food safety seals is a strategy you might want to consider employing.
I’m not saying that clipping up your tee shirt sleeves over the tops of your shoulders is a fashion statement I want to emulate, but if you are caught out in the sun with no access to shade or sunscreen and don’t want striped arms ruining the evening look you had planned with that little black dress, pulling a couple of bobby pins out of your pack to create a virtually sleeveless top is a decent way to adapt.
There’s no way you can expect a handful of bobby pins to hold up a pair of damp jeans, but if you’re air-drying bandanas, sarongs, or even underclothing and hosiery, you can get by.
Older homes, bed and breakfast establishments, and hotels abroad have antique floors with grooves galore. If you drop a screw, earring, or other small object into one of them, then you’ll need something with a small tip to leverage it back out again. That’s where bobby pins can come to your rescue.
Thin, cotton hotel room curtains in the developing world are often a simple nod to privacy as opposed to the heavier sun blockers we’re used to in North America. I’ve used bobby pins to clip back each curtain and attach them to the ropes or hooks near the walls for a more stable view that the wind can’t undo as easily.
Sometimes the shared bathroom’s full, and the dorm bedroom is co-ed. It’s the price you pay for $2 accommodations on the independent travel circuit. Typically, when we have to sleep in those situations, my husband and I try to grab the same bunk bed so we can implement our changing closet system. We hang sarongs across the long and short ends of the top bunk underneath the mattress. Overlapping them at the corners and attaching them temporarily with bobby pins creates a place where we can change out of a swimsuit and into something more suitable for the next activity.
I have to admit, I hadn’t thought of this before, which is why it caught my eye when I saw the pleat holder idea posted by the folks at Real Simple Magazine. I’m not a pleated skirt person myself, but if you are, you can iron them more efficiently at home or at the hotel if you use bobby pins to help hold the pleats in place as you iron.
Rather than buy a separate product for your crafts, why not use bobby pins as place holders while you work on crochet projects? It’s thrifty, multipurpose, and gives you one less thing to pack if you like to bring some hobby work along on family road trips.
I’m not suggesting you use one on display where people can see it; that would be tacky. However, if you want a little extra support keeping your tie in place under a jacket or v-neck sweater, it isn’t the worst idea to borrow a bobby pin.
If you want to tuck one in your hair, or even attach one to your clothing that you find on a walk, a bobby pin can make that happen without the need for a formal boutonniere. Great for those romantic beach getaways or a walk in a mountain meadow.
If you have some costume bling and want to use it to jazz up your outfit, take advantage of available loops and links to clip some baubles to your shoes or purse. Obviously, choosing the right pieces is key here, but knowing it’s an option can help you “wow” up an outfit when pennies are tight, giving you a fresh look you can feel confident about.
Spend some time touring the Middle East, and it won’t take long before you find yourself in need of a head scarf that doesn’t immediately blow off in the wind. Using bobby pins can help you feel more secure when touring mosques, or souks in conservative areas.
Business trips make it critical to stay spiffy on the road. While I prefer an orange stick with a bit of cotton ball wrapped around the tip to perform manicure touch-ups, they tend to be hit or miss with airport security. If mine get confiscated, I know I can always straighten a bobby pin to use instead.
If you’re got something really wild you can accomplish with this miniature fashion supply, feel free to share your idea in the comment section below.
Welcome to Wise Bread's Best Money Tips Roundup! Today we found some fantastic articles on making groceries last longer, ways to make extra money this summer, and saving on entertainment.
12 Tips To Make Groceries Last Longer And Save Cash — Extend the life of your fruits and veggies by not cutting them until you need them. [SavvySugar]
Six ways to make extra money this summer! — Make extra money this summer by pet sitting and house sitting. [Step Away From The Mall]
19 Tips to Save on Entertainment — To save money on entertainment, swap babysitting gigs with another couple who has kids so you don't spend money on on a sitter. [MainStreet]
Do's and Don'ts with your Credit Card — Don't use your credit card to purchase items you can't afford. [Thousandaire]
10 Steps to Writing a Great Resume — When writing your resume, send it to several people to edit it. [Free Money Finance]
How to Focus When You're Juggling Lots of Different Tasks — When juggling many tasks, set priorities and try not to multi-task. [Dumb Little Man]
Top 10 Ways to Make Money Online — Make money online by using sites like Fiverr and other micro freelancing sites. [BlogStash.com]
How to Help a Friend with Financial Problems — If you have a friend who is having financial problems, don't give them money or co-sign on a loan. [Quizzle.com Blog]
A More Organized Life Is at Your Fingertips — Use Google Calendar and RemembertheMilk to help you manage your tasks. [Parenting Squad]
Three Little Habits to Find Focus — To find focus, set time limits for yourself when it comes to tasks. [Zen Inspiration]
What if you find yourself in the position of needing to raise money for something at your workplace? It happens. Sometimes, it is as innocuous as needing a “birthday fund.” In other circumstances, a coworker might have a medical emergency. Through my many years in various workplaces, I have participated in a number of office fundraisers. At one time or another, I have used one of these six methods below with good results.
Personally, I do not like fundraisers that involve discount cards, auctioning off bachelors or “slaves,” blatantly asking wealthy people for help, holding up fishing nets, or scrip. (My issue with scrip, while it does assist with record-keeping, is that unless I find things I definitely want to buy, I am just making a donation.)
My caveat — before you embark on any worksite fundraising, do your homework. Make sure you do not run afoul of any state or local laws, or company policies or procedures. When in doubt, check. Also important — never, ever pressure or coerce anyone into donating money. That annoys people, and an unhappy person will be the first one to complain. Make any fundraising strictly voluntary. (See also: The Best Frugal Office Party Foods)
At work. The reason I emphasize “at work” is that (a) nobody wants to do it on a weekend, and (b) you’ll get much better participation and attendance. A well-publicized, amply stocked bake sale can bring quick cash. Of course, a good part of the donation occurs when people volunteer to bake goods for the sale. Besides many commitments from volunteer bakers, you’ll need tables, plastic bags, saran wrap, plates, tablecloths, markers, food-handling gloves, signs, a cash box, and change.
Encourage your bakers to package items nicely. Don’t try to sell whole pies or cakes — pieces sell faster, with a higher mark-up. I like to group items by tables and sell for $1, $2, $3, etc. If you have the supplies, placing individual stickers on items helps, too. This is not a time to dicker — if you do a bake sale right, you can be done with it in an hour. Give your helpers fanny packs stocked with change, so you don’t have a line at the cash box. It’ll go much faster.
Encourage your bakers to not only bake cookies, but also to think about making healthy items. Packages of nuts, energy bars, and even homemade hummus go rapidly. More popular still are bowls of chili or nachos, if you can get permission to plug in crock-pots. I recommend that you hold a bake sale between 9 and 10 a.m. in an office or facility, when people are starting to think about coffee and a snack. They can patronize you instead of the neighborhood coffee shop.
Difficulty: Medium
Honestly, this is not my favorite fundraiser — it’s really hard work, assuming you do it right, and you need to devote a half-day to it. However, they really do work, particularly if you can hold them at a grocery store — people are more willing to contribute because they can simultaneously shop. Supplies needed: hoses, buckets, car-washing soap (don’t use dishwashing soap, which can harm a car’s finish), and soft rags or sponges. Advertise, post signs, and send people out to hold up signs. I personally prefer “$5/car” over “donation,” because a set price eliminates the dickering process.
Difficulty: Difficult, because of the logistics — and you need a lot of helpers and elbow grease
That’s right, BINGO! Just today I called bingo for an hour and a half. Set up during a lunchtime break, pass out cards and markers, and call out those letters and numbers. If permitted, charge per card and offer inexpensive prizes. Needed: a bingo set, microphone, and prizes. Savvy bingo-goers will work several cards at a time. A game of bingo runs about five minutes, so plan prizes accordingly. When you get down to the last few minutes, run a “blackout” game.
Difficulty: Very easy, particularly when you have a captive lunchtime audience
AKA “drawings.” This one is trickier legally. Be sure to check what is allowed in your state and at your workplace. Sometimes the terminology matters.
What to raffle? Homemade items go well, such as fudge, cookies, or a dinner. Needed: advertising and prizes.
Difficulty: Easy
If you have a real go-getter committee that can secure great donations, these can be a lot of fun. The trick is to obtain items that people actually want — fine wines, gourmet chocolates, dinner at a trendy restaurant, quality art, interesting pottery, etc. It’s embarrassing if the donated item just sits on the table at a minimum bid. Needed: donated items, papers on which to write bids, and a nice tablecloth. These usually take place at some sort of event.
Difficulty: Medium, for the legwork it takes to secure good donations
You have probably seen these for sports events and baby “due date” guesses. Again, make sure there are no prohibitions and that the terms of the pool extremely clear, so there are no arguments about who won. Supplies needed: a big chart.
Have you done any fundraising? Do you have tips for Wise Bread readers?
This post is sponsored by Skype. It's time to say more and stay human. It's time for Skype.
Did you ever hear about a friend or relative who sent a sympathy text or consolation email when they heard about a loved one passing? It’s always felt cold to me, regardless of the intent.
Similarly, have you ever gotten into a heated debate over an email or text, simply because your true intention was lost in translation? I know I have.
As humans, we are built to communicate face-to-face. Anyone who’s ever seen an episode of “Lie to Me” will know that we give off hundreds of tiny clues that we are preprogrammed to pick up on. And the way we speak, the tone we use, the hand gestures we make — they all form part of the whole conversation.
In effect, when you text or email, you are cutting out a huge part of the communication process. It's like you’re only using one of the senses instead of four or five.
Here, then, are seven reasons why you should always use video to connect with people over long distances, whether in your professional or personal life.
As a species, we do most of our communication non-verbally. That isn’t to say we can’t communicate just fine over email and text messaging, but it has severe limitations. After all, the only real emotions you can show through text are anger (ALL CAPS), excitement (!!!!!!), and silly emoticons. But all the subtleties of human interaction and communication are completely lost. It’s like we’ve devolved.
With face-to-face communications, such as videoconferencing, the emotion is brought back into the picture. What could have sounded cold or even frustrated in an email or text could be seen completely differently when a real person speaks it. You can see affection in their eyes, hear the tone of their voice, and realize that they may be nervous or shy, not cold and aloof.
If you’re in a close relationship with someone, you don’t need to hear them speak to know something is very wrong or very right. They could be bursting with excitement, or they could have just received some awful news. Either way, you know it. You feel it, you sense it, and it’s all in the many micro expressions that we display on our faces.
Those small expressions are not evident in emails and texts. Even the large emotions go astray. If you get into an instant messaging conversation with someone, you really have no idea what the other person is feeling unless they spell it out. A simple “I’m doing fine” in response to a “how are you doing?” is missing too many clues to know what the author is really feeling. They may be fine, better than fine, or really depressed. It could take time to coax those emotions out of someone, if they’re even willing to via email. And as the emotions in your texts are missing too, they will miss the tone of your voice and the kindness in your eyes when you make a genuine inquiry. Your probes for information could come across as rude or pushy, or even uncaring and insensitive.
Only with face-to-face communication is this solved. Our faces are open books and very easy for people to read (most of the time). This saves a whole lot of chit-chat, and ultimately, saves time (and maybe even friendships, relationships, or business accounts).
There are times in life when a simple email or text just will not do. As I mentioned in the opening, a text or email saying “sorry for your loss” will never be as warm and heartfelt as expressing those very same condolences in person. But sometimes, it’s just not possible to be there in person. I know that first hand — my parents and the rest of my family live in England, and I’m in Colorado. So when it comes to genuine "happy birthday," or a big sorry, video conferencing is the only way to go. I can see my family, they can see me, and more importantly, they can see the real emotions on my face and feel the genuine emotions I am giving out. Emails, texts, and even regular phone calls just aren’t the same. And as we now live in a world that is made so much smaller by videoconferencing, it seems silly not to take advantage of it whenever possible. The future is now!
Well, most people anyway. In a text message or email, little white lies (or big nasty ones) are much easier to tell. People do it all the time. “Sorry, can’t make it, feeling ill,” or “I definitely sent that letter, it must have got lost.” Those same lies, however, are much more difficult to tell when you’re face-to-face with someone. You will know this yourself, especially if you have children. They can lie to you easily when you call upstairs and ask what they’re doing. But look them in the eye, and they find it so much harder to tell a fib. It’s basic human nature, because the visual clues that give away lies are easily spotted. Take away those clues, and liars have a field day.
Brainstorming, meetings, and all other forms of group communications suffer when people are not literally talking to each other face-to-face. Talking to someone, or several people, on the phone is not even close to a substitution for seeing them. There’s an automatic lack of trust, especially if you’ve never met the person before, and also a feeling of insecurity. If you’ve been in any kind of business meeting using basic phone conferencing, or emailing and texting, you instantly wonder what the people on the other end of the line are actually up to. Are they serious about this? Are they making fun of your ideas, or are they staring at the ceiling? Who is in the room that isn’t saying a word? With video conferencing, those doubts disappear, and your mind can begin to work on the task at hand, rather than worry about the things you’re not seeing.
As a creative in the advertising business, this is something I know a lot about. Clients and agencies are separated not just by states, but continents these days. There’s no reason a client in London can’t have an agency in Los Angeles. But the costs of travel make it prohibitive to meet, especially if those meetings happen often. With video conferencing, the distance doesn’t matter any more. A creative team in one country can present ideas to a client half way around the world. The story boards and visuals can be held up to the camera, or inserted into the video stream, and the presentation is both seamless and professional. Clients won’t skip ahead, like they often do when on a phone call, accompanied by a printed handout or PowerPoint presentation. And both sides have a chance to judge the actual reactions of the audience, something that’s very important when figuring out the efficacy of an ad campaign.
This applies not just to business, but also to friends and family. Let’s take the all-too-typical scenario of families separated by great distances. The grandkids can talk to their grandparents on the phone. That’s fine. They can email or text, which is OK. But with video conferencing, it’s almost like being in the same room. The grandkids can hold up some of their pictures to show nana and papa. They can sing songs, clap hands, play games, and even blow kisses. It’s as close as families can get without being in the same room, and it can work over the greatest of distances.
With homework assignments, friends can collaborate on projects visually, not just over email or phone. And with business meetings, each party can see real-time sketches and white board ideas. This is the ultimate way to communicate, other than being together in person or inventing some kind of hard-light hologram.
In short, although the phone is great, and email and texts are quick and cost effective, the only way to really connect with people is using the visual elements available in video conferencing. It’s the way forward.
Graduation season is upon us yet again. Over the course of the next month, many college students will get their degrees and start looking for jobs. The tradition of giving gifts to graduates means you will probably end up giving at least one or two gifts this graduation season. Most people tend to give practical gifts to new graduates, however there are others who prefer to give gifts that are a bit more fun.
What's the best gift to give a college graduate? Money? Assistance looking for a job? Financial planning advice? Some new furniture for their new apartment? Or is it better go with something fun as opposed to practical?
Tell us what you think the best gift to give a college graduate is and we'll enter you in a drawing to win a $20 Amazon Gift Card!
We're doing three giveaways — one for random comments, one for random Facebook "Likes", and another one for random tweets.
If you're inspired to write a whole blog post OR you have a photo on flickr to share, please link to it in the comments or tweet it.
Good Luck!
Remember Winnie the Pooh? I do — and not just for his honey-fuelled adventures with his friends in the Hundred Acre Wood. Even very small children seem to sense the substance behind A.A. Milne’s “stuffed-with-fluff” cast of characters. In fact, A.A. Milne once famously said that although the characters were based on his young son Christopher Robin’s favorite stuffed toys, he didn’t write Winnie the Pooh for children at all. And maybe that’s why a tubby, honey-loving little bear has continued to resonate with adults and children alike since he was first introduced in the 1920s.
Winnie the Pooh has a certain way about him that is both endearing and enlightening; what he learns in his adventures extends far beyond the confines of the cozy Hundred Acre Wood, creating a philosophy that applies to, well, just about everything. Here are some of his key lessons — and how they apply to Wise Bread’s major topic of interest, money. (See also: 21 Personal Finance Lessons From Harry Potter)
Pooh may be a bear of “very little brain,” but that doesn’t stop him from sitting down and having a good a think, whether it’s about how to help a friend or scrounge up some extra honey. If there’s any lesson you can apply to your financial life, it’s to take the time to think things through. “Think it over, think it under,” Pooh would say. Whether you’re struggling with debt or doing some soul searching about how to spend your money, eventually, the answer will come to you.
Money is something we often pursue singularly — and at a cost. For Winnie the Pooh, honey is money, and Pooh often gets into trouble when his hankering for the sweet stuff clouds his judgment. Whether that means tumbling out of a tree, falling in a hole, or getting his head stuck in the honey pot, Pooh’s impatience often gets the best of him. In real life, the consequences of being too focused on getting what we want are often more painful than Pooh’s many tumbles. Plus, the adventure is often in pursuing the prize, not in actually getting it.
Sometimes when we’re in financial hot water, the problem seems so big that our tendency is to say “why bother?” Sound like someone you remember? In the Winnie the Pooh stories, a downtrodden donkey named Eeyore does little more than complain. His friends don’t seem to notice, but it’s clear that the donkey’s low spirits mean he’s often left behind to mope. Today may not be a good day, but if you spend it feeling sorry yourself, tomorrow won’t be any better. It’s tough to be a Winnie the Pooh in an Eeyore world, but it has its rewards. Focus on how to make things better, rather than on what’s going wrong.
Winnie the Pooh is always polishing off the honey (or “hunny”) that’s before him and looking around for more. Unfortunately, although he’s always hungry, this often means his cupboards are bare, and he’s left to go to great lengths to get his paws on more sweet stuff. We often do the same when it comes to our money by spending like there’s no tomorrow on payday, then suffering through the rest of the month. So next time you get your paycheck, tuck some into the honey pot for later. You know you’re going to need it.
There’s nothing that makes Pooh so happy as “a little something,” such as some tea, some honey, a bit of condensed milk, or “a simple meal of marmalade, spread lightly over a honeycomb or two.” Pooh takes pleasure in food and his friends, so that every day is his favorite day. In real life, things are a lot more complicated. That said, most us know (way deep down) that money can’t really buy the things that make life worth living. That’s what makes them so sweet.
If it wasn’t for his friends — Piglet, Rabbit, Eeyore, Tigger, and Owl — this tubby, bumbling yellow bear might not get much farther than the next honey pot. But each little character has his strengths, and together, they’re able to set up a trap for a “Heffalump,” take an “Expotition” to the South Pole, and rescue Piglet from a flood by floating by in an upturned umbrella. Chances are that when it comes to challenges in your financial life, there are more solutions than you can even imagine. Ask your friends for help — you’ll be glad in more ways than one.
“Sometimes,” said Pooh, “the smallest things take up the most room in your heart.” Gratitude plays a big role in Winnie the Pooh, and it isn’t just the wise old bear who feels it — even “ Piglet noticed that even though he had a Very Small Heart, it could hold a rather large amount of Gratitude.” According to Pooh, you can “only do what you ought” when you “know what you’ve got.” There’s nothing wrong with striving for greater in things in life — just don’t forget to appreciate what you already have.
You might be surprised that so many of the lessons that flow through A.A. Milne’s Winnie the Pooh stories relate to our finances. The reason is simple — money is a major part of life, and it’s tied in to our philosophy and the way we think about things. So “have a think” (as Pooh would say) about how you view your money and your life. You may be surprised at what you discover. And, if you decide to tackle some of your financial challenges, you may just enjoy a few adventures along the way.
'When you wake up in the morning, Pooh,' said Piglet at last, 'what’s the first thing you say to yourself?' 'What’s for breakfast,' said Pooh. 'What do you say, Piglet?' 'I say, I wonder what’s going to happen exciting today?' Pooh nodded thoughtfully. 'It’s the same thing,' he said.
'When you wake up in the morning, Pooh,' said Piglet at last, 'what’s the first thing you say to yourself?'
'What’s for breakfast,' said Pooh. 'What do you say, Piglet?'
'I say, I wonder what’s going to happen exciting today?'
Pooh nodded thoughtfully.
'It’s the same thing,' he said.
Welcome to Wise Bread's Best Money Tips Roundup! Today we found some awesome articles on how to vacation without breaking the bank, 50 ways to make money, and tips to help you save more.
How to Vacation without Breaking the Bank — Vacation without breaking the bank by using the right credit card or going on a roadtrip. [Not Made Of Money]
50 Ways To Make Money: Maximizing, Creating, And Increasing Your Income — Want to make money? Consider being a virtual assistant or writing an ebook. [Bible Money Matters]
5 Tips to Help You Save More and Get Rich Quicker — To save more money, shop for new insurance frequently. [Moolanomy]
How To Monitor Your Credit For Free — Monitor your credit for free by getting a free report from your lender. [The Digerati Life]
101 Timless Lessons Life Teaches — Remember that there is a difference between giving up and knowing when you've had enough. [Marc and Angel Hack Life]
4 Transactions You Should Complete with a Credit Card — When paying for recurring charges, be sure to use your credit card. [Financial Highway]
5 Tips for Hiring a General Contractor — When hiring a general contractor, get estimates in writing. [Cash Money Life]
Money Leaks Are Costing You Hundreds Every Year (This is How to Plug Them) — Make sure your bathroom isn't costing you extra money by cutting down on the amount of toiletries and cosmetics you use. [Money Ning]
5 Awesome Uses For Butter — Use butter to prevent cheese mold and swallow pills. [SavvySugar]
Go With the Flow: 3 Ways to Celebrate Your Daughter's First Period — Celebrate your daughter's first period by getting her a diva cup. [Parenting Squad]
Seasonal produce is your ticket to snazzy summer menus that don’t break the bank. Fresh fruits and vegetables perk up your salads, diversify your dessert options, and simplify your side dishes. These five foods represent some of my favorite ways to mix it up at dinner during the warmer months. (See also: Fresh Fruits and Vegetables, By the Month)
Urban dwellers should start seeing it on the shelves soon, but if you have the space, this is something you can grow on your own for free. Two of my favorite rhubarb recipes are pie and a stewed sauce to use in dessert squares and on top of ice cream. But there are many other things you can do with it, including wine and a number of savory dishes.
While it’s technically available all year long, the drop in price during the summer months makes pineapple recipes a more sought-after commodity for warm-weather menu planners on a budget. Grilled “steak” rounds, spicy fruit salsa, and chilled rum drinks all make my short list, but there are other ideas you can try out too — Hawaiian pizza on the grill, for example.
I love when the price drops on mango due to the seasonal rise in temperature. I use it to create dishes based on a number of international cuisines, as well as refreshing summer treats like sorbet and smoothies. One of my favorite ways to use a firm mango is in a salsa with black beans, minced jalapeno, red onion, and cilantro with a splash of freshly squeezed lime juice. It pairs well with fish, sticky rice, or both.
Those who grow their own food are already aware how crazy this plant goes in the garden. If you don’t live in the country with people putting wheelbarrows of the stuff by the side of the road for free, you can at least expect a price break at the supermarket during the summer. There are more ways to use zucchini than there’s room enough for in this article. From savory pancakes to cakes and stir-fry dishes, the possibilities are extensive indeed. I’m partial to putting some in a vegan minestrone soup or deep frying some to serve with marinara for an appetizer. The point is, if you have a good sized batch of this stuff in the fridge, you’ll never be short of dinner ideas.
Another cheapie you can grow in your yard, collards are also extremely affordable at the grocery store. One of several cancer-fighting cruciferous vegetables, they can be used in place of cabbage for baked-stuffed rolls in tomato sauce, sautéed with black-eyed peas for an easy side dish to enjoy with sweet potatoes, or cooked on their own.
The list of summer foods you can use to perk up your dinner plans is certainly more extensive, but these five are among the most affordable and flexible, in my opinion.
Do you have any creative ways to use these produce items? Are there other foods that top your grocery or garden list in the summer?
As a mom, I want to teach my kids everything they need to know about money and life, preferably before they leave my home (the oldest will be going to college in the fall, and time is running out). As a writer for Wise Bread, I see how I fall short compared to many readers who, based on their comments, have parents who taught them to flawlessly distinguish needs from wants or have ingrained the full value of a dollar in their children by requiring hard work inside and outside of the house on a daily basis.
Fortunately, kids and teens can learn from imperfect parents. Plus, they can teach their moms and dads financial lessons the grown-ups had never considered or remind them of timeless financial truths. Here are some things that teens have to say about spending, making, and saving money. (See also: 10 Tips From a Financially Savvy Teen)
High school student Syretha Shirley of Las Vegas tells me that relying on designer labels and name brands to define your style puts you on the path to being a conformist, which is counterproductive to being truly fashionable. In some cases, insecurity can influence people to copy the cookie-cutter style statements offered by leading brands. Don’t count on your shoes (no matter how expensive) to boost your self-image, she says. Have the confidence to express your style through distinct choices.
How to Develop Your Own Style
Define your signature style, set a budget, and shop at discount stores like Marshalls or thrift shops. Pull together disparate items to create your own look. To have fun and build a stylish wardrobe, take shopping trips with a friend and work together to uncover fashionable finds.
If you don’t have the time or taste to develop a distinct stand-out style, adopt a simple, tasteful one or a classic look that’s easy to create and maintain.
Jack James of San Jose, California, a 13-year-old and book author, tells me that he was surprised to find that running his own business boosted his self-esteem, which was damaged by bullying at school. During the two years that he was homeschooled to get back on track academically (Jack has dyslexia) and become stronger in his sense of self, his mom suggested that he start a business. He resisted at first, but her nagging convinced him to consider how he could earn money.
A few years ago, he began bringing in garbage, recycling, and yard waste carts in a business that continues today. Many of his neighbors are his customers, giving him the opportunity to develop friendships while also providing a service. He deposits his earnings in a savings account, which has grown to a healthy $1,000.
The side benefit from the business is the self confidence that Jack gained from generating income. Unlike bullying peers (and the adults who witness but don’t advocate for those who are being bullied), the money doesn’t unfairly judge or condemn but has the capacity to reward effort independent of learning abilities and disabilities.
How to Earn Some Money
Both teens and adults can do lots of things to earn money through money-making hobbies and side jobs, such as playing an instrument or tutoring.
Teens can make a side income doing traditional teenage jobs (like babysitting or cutting grass) and helping adults that are willing to pay them for services (like painting or moving stuff).
At any age, finding a way to make money that makes use of your natural talents is ideal not only for earning income but also to prepare you for a career or help you in your present job. My youngest son began selling his old stuff online a few years ago and learned how to present merchandise, respond to inquiries, price goods, and fill orders. He is interested in a career in technology and having some of these experiences gives him firsthand knowledge of user interfaces, financial systems (he has his own PayPal account), and more.
Money problems are a source of worry, stress, and suffering. Syretha has watched as family members overspent on their wants, became unable to take care of their needs, and, in some cases, made mistakes in attempting to get money quickly with life-changing consequences.
How to Avoid Worry Over Money
Realize that you really will need money later, despite how distant those needs seem now. Save to avoid extreme stress and financial crises, which can lead to poor decision making and cause problems that affect long-term career possibilities, personal freedoms, family relationships, and more.
Match your lifestyle to your financial wherewithal, and make sure to set aside money for future needs. Don’t put purchases for day-to-day needs on your credit card. Use your credit card for true emergencies, not fashion wants or other types of non-essentials.
Place your values and goals above social opinion instead of trying to please or impress other people. Trying to be popular can often sidetrack your efforts so that you are unable to spend time investing in yourself and achieving your goals.
Investing in herself is a priority for Syretha. Much of her time is spent improving herself, her financial position, and her community. Currently, in addition to high school and side jobs (babysitting and braiding hair), she is being mentored, writing a book of poetry, participating in a teen empowerment group focusing on personal development and community service for young women, and attending a Boys & Girls Club where she took a Money Matters course on financial literacy.
When Boys & Girls Clubs of America partnered with the Charles Schwab Foundation to sponsor the Money Matters Music Mogul contest, both her mentor and mom encouraged her to enter. She wrote an original song that won first place and was made into a music video by hip-hop producer Kevin "Khao" Cates.
Watch video
Putting yourself first doesn’t mean not caring about others but having the freedom to focus on what is important to you. For example, one of the reasons that Syretha is so happy to win the contest is the opportunity to spread the word about being money smart to other teens.
How to Put Yourself First
Use money and time in ways that are fulfilling in the present and helpful for the future. What specific actions you take may differ from your friends but might include:
These are all ways to use your talents and money for long-term benefit, rather using money to satisfy immediate and short-lived desires.
Recently, my oldest son taught me a lesson about money and values. Like many parents, I have always thought that teaching kids to be unmaterialistic is best accomplished by sending them on service projects or mission trips in which they serve impoverished families. The reasoning is that teens will realize how rich they are in comparison to less fortunate others. Then they will be grateful and frugal. For example, my teenage sons have spent at least one week performing home repairs for near-penniless people referred by the Department of Social Services.
But seeing the poor live with little doesn't necessarily translate into feeling rich with less stuff.
My epiphany came during spring break, after my oldest returned from a community-wide, church-sponsored event called the 30-hour famine. He seemed elated, having enjoyed hanging out with friends, meeting new people, and teaming with a few other kids to win the organizer's version of the "Amazing Race." Listening to his experiences made me realize that being happy with less is not the goal of financial wisdom (though this ability is helpful); instead, it's valuing what's really important, like friendships, community camaraderie, and yourself, independent of the stuff you've accumulated and the status that stuff may confer.
How to Know What's Important
Spend time on the activities you enjoy, the things that will make you a better person, and the people you like to be around. Use your priorities to motivate you to do more with fewer resources, not to be stingy but to express your style like Syretha says.
If your home feels a little “blah,” but a new kitchen or bath is not in the budget, try some of these less-involved solutions. They are all designed to freshen up your look or make your living space more usable. Plus, they cost less than a major remodel and are considerably less stressful as well! (See also: 15 Home Decorating Ideas for Under $5)
One way to add a little “oomph” to a room or hallway is to hire a good trim carpenter to install a high-quality trim or crown molding. Douglas Breaker, CEO of HomeFinder.com, swears by this small update that can really dress up a house. Since it comes in a variety of looks, you’ll likely find the perfect option for your age and size of home.
Douglas also vouches for the value of new exterior doors (both aesthetically and in regards to property worth). “Exterior replacement projects, such as a new garage door and a new entry door, offer some of the best returns at resale,” he advises. Most homeowners can recoup 70% or more of the cost of the project at resale, and even if you don’t plan on selling, it can create a stunning transformation for your home’s exterior.
Instead of buying all new furnishings, consider maximizing space with the items you already have. Lauri Ward of Redecorate.com suggests creating a “u-shape” with your furnishings, instead of an “L-shape,” to create a more comfortable conversation area. Other tips include making sure your furniture isn’t blocking traffic patterns and avoiding having all your furniture against the walls (something people commonly do when trying to “open” a room up). Both mistakes can make rooms appear clunky or smaller than they really are.
Lauri also recommends that one wall in every room be left clear of artwork so that the eyes have a place to rest. You may also want to move artwork three inches lower than where it already hangs as well. “Everyone hangs art too high!” she claims.
Cupboards and cabinetry take up a large amount of kitchen wall space, so it’s important to do it right. Susan Serra, blogger at The Kitchen Designer, reminds us that cabinet hardware is the “jewelry” of the kitchen, and she recommends replacing old knobs and handles with something stylish. She also advises home owners to remove one or two wall cabinets and replace them with open shelving; this can create a more spacious look for any size kitchen. Her best tip? ”For paintable/older cabinets, paint a few featured cabinets a different color (equal size wall cabinets on each side of the sink, for example).”
Finally, there are several simple solutions to help correct and enhance the lighting in any room. The experts I spoke with came up with two that can be done right away, and both are more budget-friendly than a full room redo. Lauri Ward recommends pairs of lamps — never just one — for better illumination. She also explains that lighting directed downward and not at the ceiling can help your room avoid “tiring and unattractive shadows.” All of our experts liked the look of LED lighting under cabinets; this appearance can be achieved with DIY products that have the wiring done for you.
While a full remodel will cost $10,00–$65,000, it isn’t something that’s feasible for many cash-strapped homeowners. By starting with even just one remodeling alternative from this list, you can give your home new life — for a fraction of the cost.
What have you done to perk up your home’s look?
Welcome to Wise Bread's Best Money Tips Roundup! Today we found some great articles on slashing prom costs, trimming your entertainment budget, and cheap foods that may build a better brain.
31 ways to slash prom costs — Save money on prom this year by skipping the limo and borrowing a car instead. [MSN Money]
10 Easy Ways to Trim Your Entertainment Budget — To trim your entertainment budget, consider buying an entertainment book or skipping cocktails when you go out. [Money Crashers]
4 Cheap Foods That May Build a Better Brain — Berries are cheap and may help you build a better brain. [Money Talks News]
Ten Commandments for Home Buyers — If you are buying a home, make sure you know your credit standing. [Credit Sesame]
How to Make Costly Weekend Activities More Affordable — Save money on going to the movie theater by opting to see a movie in the park instead. [Bargaineering]
5 Recurring Expenses to Reduce in Retirement — When you retire, make sure you reduce your transportation expenses. [U.S. News & World Report]
6 Most Promising Careers For New Grads — With a projected growth rate of 20%-28%, the career of a financial analyst has great promise for new grads. [SavvySugar]
10 Best Values in Used Cars, 2012 — The 2009 Chevrolet Malibu 1LT is one of the best values in used cars for 2012. [Kiplinger]
How to Stay Sun Safe — To stay safe in the sun, wear protective clothing. [Parenting Squad]
The Butterfly Effect — Saving money or changing your spending habits can have a far-reaching impact on your finances. [Free Money Finance]
Carnival of Personal Finance #361: Hosted by One Cent At A Time — Don't miss the Carnival of Personal Finance, featuring the week’s most interesting and informative blogger-written articles about personal finance.
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