November 20th, 2009 · 2 Comments
While you are probably looking forward to spending time with your friends and family over the Thanksgiving holiday, I suspect your kids have an entirely different take on Thanksgiving. They may be glad to spend time with their family and friends, their focus is probably on the upcoming break from school. Thanksgiving break is almost like a pre-cursor to the extended Christmas break, and kids are ready for it.
The question is, “Are you ready for the kids to be home?” Will you let them hang out in front of the television all day complaining about boredom? Of course you won’t! With a little prep work ahead of time, you can have plenty of entertainment options ready and waiting for the kids to enjoy.
Baking Day – What kid doesn’t love making a mess in the kitchen and creating a few special treats? You can combine some of your holiday meal preparation and entertaining the kids by enlisting them in your baking projects. You can make sweet cookies, tasty breads, or even a fresh pie. The kids will be proud of their creations, and you’ll get some much-needed help.
Board Game Tournament – Whether your family likes traditional board games like Monopoly or card games like Uno, they’re certain to enjoy a tournament based on their favorite game. Play several games until a winner can be declared. You may even name the winner King (or Queen) of the Day, and let him wear a crown for the rest of the day.
Holiday Movie – Although I am not a big fan of making the television the center of our day, I do enjoy a good movie now and then. Kick off the holiday season with the kids by settling down to watch one of your favorite movies. Young kids might like The Grinch Who Stole Christmas (either version). Older kids might prefer something like a classic like Miracle on 34th Street. A Christmas Story is, of course, a favorite for all ages.
Wreath Project – Get the kids involved in your holiday decorating by having each of them create a holiday wreath with construction paper. Allow them to color the wreath and make any sort of embellishment they like. Then, let each youngster hang his wreath on a door in the house. They’ll love to show off their creation when your Thanksgiving guests arrive.
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Tags: General Finance · Kids And Money
November 19th, 2009 · 2 Comments
Shopping on Black Friday is one of my favorite ways to spend the day after Thanksgiving. I love the thrill of trying to get a good deal, and the atmosphere among the shoppers is always fantastic. People start conversations with complete strangers while standing in line at 4 AM in the morning. I love it!
I realize, though, that many people aren’t out there shopping for fun. They are shopping for some very specific items on their shopping list. For those people, I’ve come up with this list of Black Friday shopping strategies:
Divide and conquer. Black Friday definitely isn’t the day to try to do everything yourself. There’s just no way to be at Target for a 5 AM opening, to be at Wal-mart at the same time, and to be at Kohl’s at 6 AM. Instead, call your friends and family the night before. Figure out who is going to be in each store and trade shopping lists. If nothing else, sharing your shopping chores will give you and excuse to get together to share shopping stories (and divvy up the purchases).
Travel in tandem. If you’ve ever been shopping on Black Friday, you know how quickly the lines can get long. Getting to more than one store in a hurry can be hard, though, if you have to spend an hour in the checkout line at Kohl’s. We get around that inconvenience by shopping in pairs. My husband jumps in the checkout line and hangs out there. I venture out into the store to find things and bring them back to him in line. Then, I take his place and let him go find things.
Make a list and take it with you. Shopping from memory on Black Friday never works. You’ll forget something every time. After all, you start shopping before the sun’s up; are you even awake yet? Having a list can help you stay on track as you work your way through the massive crowds and keep you from picking up a bunch of extras, too.
Shop online. You can purchase some Black Friday items through the internet. Now, you’re not going to find those great doorbuster items online. You can, however, take advantage of great discounts. For instance, last year Kohl’s had some steep discounts on their Fisher Price toys. Unfortunately, our local store didn’t have the specific toy I was looking for. I was able to log onto Kohls.com and order the toy at the same discount I would have enjoyed at the store.
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Tags: General Finance · Saving Money
November 18th, 2009 · 3 Comments
Thanksgiving is going to be here soon. Are you ready? This time of year I find myself frantically trying to finalize our holiday plans and gearing up for the big day. It’s my turn to host our extended family for dinner, so it’s going to be quite a day.
Does the fact that we’re going to be feeding a large crowd mean that we are throwing our budget out the window? Of course we’re not. What is does mean is that we’re going to have to plan carefully to get the most bang for our buck this Thanksgiving. Here’s what we plan to do:
Get an accurate headcount of guests. You don’t need to buy an over-sized turkey and then have leftovers for days. Know how many people you are going to feed and buy a turkey that will feed those people. You don’t really want to eat turkey for weeks, anyway, do you?
Serve plenty of inexpensive side dishes. You can stretch your entrée (the turkey) farther by offering plenty of “fixings” to go with it. Stuffing is, of course, one staple. We also serve plenty of vegetables (purchased during sales and saved until we needed them). Instant mashed potatoes are easy to make (and inexpensive) for a crowd, too.
Skip heavy desserts. After everyone has gorged themselves on the traditional turkey dinner, who has room left for dessert? If you feel like you HAVE to have a dessert on hand, I would suggest baking some cookies. Guests can help themselves to one or two when they get the munchies throughout the evening. Gingersnaps or peanut butter cookies are some of my favorites for the fall season.
Ask everyone to bring a beverage. No matter how carefully I shop, drinks can really kill a food budget. Wine, beer, and soft drinks can quickly add up. We try to ease the strain of having the right drinks on hand by asking everyone to bring something with them. Some bring a bottle of wine they want to share; others bring their favorite cocktail. We, in turn, supply soft drinks and one type of beer. This method ensures that everyone has plenty to drink and a wide variety of choices.
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Tags: Personal Finance · Saving Money
November 17th, 2009 · 4 Comments
Are you at a loss about what to give as gifts this holiday season? It’s no secret to you that I’m really into personal finance. In fact, I’m known among my friends as being the “financial guru” in our bunch. It’s only reasonable, then, that I would choose to give personal finance-themed gifts to many of our friends and family.
You might ask how many different personal finance gifts can there be. Well, let me tell you that there are tons. Don’t just take my word for it; check out this list. You will find gifts here that fit every recipient and every price point.
Personal Finance Books – There are personal finance books for almost anyone on your list. One of my personal favorites is Smart Women Finish Rich. There is also a “couples” version of this book. If kids are on your list, you can even check out some of Dave Ramsey’s Life Lessons with Junior books.
Coupon Organizer – Give your friend or family member the gift of organization and encourage them to stretch their dollars with coupons. You might even slip one or two into the organizer to get them started.
Personal Shredder – Show your friends and family that you’re worried about their welfare by protecting their identity. A small personal shredder is great for anyone who needs help disposing of their confidential papers.
Personal Finance Software – Help a friend make his personal finances more efficient by giving him a personal finance software package. Volunteering to give him a tutorial on running the program is a nice touch, too.
Wallet – Everyone needs something safe to keep his cash and credit cards in. Look for one that reflects the recipient’s personality to really evoke a smile from the lucky recipient.
Board Games – There are tons of different games that you can give that relate to money. Look for Payday, the Game of Life, or Monopoly at your local discount store.
Change Counter – You can encourage others to save their spare change by giving them one of those electronic change counters. Another alternative might be those tools you use to roll coins.
Stocks – Although you probably don’t want to make a huge investment for anyone on your Christmas list, you can still give a stock gift. Oneshare.com allows buyers to purchase one share in name brand companies like Disney or Harley-Davidson. You can even purchase cool frames to go along with it.
Play Money – Do you remember playing “store” when you were a kid? Well, kids still do that. At the dollar store, you can buy an inexpensive set of play money and let your kids practice handling their own cash.
Finance Magazine Subscription – Give a gift that lasts all year long: a subscription to a personal finance magazine. Money or Kiplinger’s are both good ones, but don’t be afraid to look at more specialized ones, too. Entrepreneur is a very interesting magazine directed at small business owners while Money Advisor gives great advice for consumers.
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Tags: Personal Finance
November 16th, 2009 · 1 Comment
What do you do if you and your husband aren’t on the same page about spending? You may love your spouse, but that doesn’t mean that you love his spending attitude. Maybe he’s a saver, and you want to enjoy your money a little. Or perhaps you’re the saver, and you struggle with his spending’s effect on your finances.
I know it must seem like my husband and I are always on the same page, but the truth is that we have our differences just like any couple. There are some times that I’m sure he wonders why I bought a particular thing while there are other times that he makes shopping decisions that I don’t understand. Fortunately, we have found a way to reconcile our differences.
Have shared goals. Although your spouse may not agree with your approach to spending, you may find that it’s much easier to agree on goals. Where do you see yourself in five years? Will you be living in the same house? Will your family be the same size? Having shared goals to refer back to will give you common perspective to use as you make spending decisions.
Explain your spending attitude. If you are a saver and your spouse is a spender (or vice versa), a little explanation may go along towards bridging the gap between your attitudes. Perhaps you want to build a larger savings account because your family always scraped by when you were a kid. Because you don’t ever want to find yourself in that same hand-to-mouth situation, having a large savings account is important to you. Explaining to your spouse the reasoning behind your spending attitudes may help him understand where you are coming from. Don’t forget, though, to give him the same chance to explain his point of view.
Agree on an independent spending limit. My husband and I have agreed on a limited amount of money that we are allowed to spend without consulting each other. Our limit is $100. If I am out shopping and find a great deal on something, he will trust my spending decision. However, if the item costs more than $100, I have promised to call him first. Our arrangement works the same way for him, too.
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Tags: Personal Finance
November 13th, 2009 · 2 Comments
If there is one question I get asked a lot, it has to be the question about how I got started toward this frugal life. The more I talk to people, the more I realize that people really do want to escape the stress of living lives filled with debt and money problems. The problem is, however, finding the place to start.
If you’ve decided to undertake a frugal lifestyle, you may find yourself in the same boat. It’s easy to procrastinate when you are ready to undergo a major overhaul of your life. Finding a way to break this huge task down into simple steps could help you get started down your new path.
Create a budget that allows you to live within your means. Your budget should include all of your regular expenses and your monthly debt payments. Remember to only plan to spend the money you bring home each month. If you run out of money before you run out of expenses, you’ll need to increase your income or decrease your expenses.
Vow not to use debt to finance purchases that don’t fit into your budget. A key component of any frugal life is the absence of debt (or a decreasing amount of debt). Once you eliminate debt from your life, you’ll find that living within your monthly income will be much easier.
Find extravagances that you don’t need in your budget. At first glance, you may think that there isn’t any wiggle room in your monthly expenses. I suspect, though, that a closer inspection will reveal plenty of ways to save money. Cutting cable or satellite television, for instance, can be an easy way to save money. Don’t take anything for granted as you evaluate your expenses, and you’ll find the fat in your budget.
Use cash or debit cards for all of your purchases. The temptation to use a credit card (with the hope to find a way to pay the bill later) is far too great when you’re just starting down the path to frugality. Pay with cash or a debit card to make your purchases feel more “real.”
Have a family meeting. Now that you’ve decided to live a frugal life, you should share your decision with the entire household. Tell the kids what you’re doing, why you’re doing it, and what the decision will mean to them. If you can get everyone on board to the plan right away, you will find it easier to encourage them accept the impending sacrifices that will be coming.
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Tags: Frugal · Personal Finance
November 12th, 2009 · 2 Comments
As the colder weather of winter sets in, you may be thinking of a couple of different things. On one hand, if you’re anything like me, you’re thinking ahead to the holidays and planning special events for your family. On a less exciting note, though, you probably find yourself starting to worry about the hefty heating bills that come with the colder weather. Whether your home uses electricity, propane, or natural gas to heat itself, you can bet that you’re going to see higher utility bills in the coming months.
If the thought of trying to fit higher utility bills into your monthly budget is causing you to freak out a little, try not to panic. Although nothing will completely insulate you from having higher utility bills in the winter, you can follow these three easy tips to try to minimize your increase.
Check for drafts. The biggest threat to your home’s utility heating efficiency has to be the cold air from outdoors. Thoroughly inspect your home, focusing around windows and doors especially, for any gaps or air leaks. Use caulk to plug gaps and install weather stripping around doors to keep your heated air inside the house and the cold air outside the house.
Set your thermostat and leave it alone. Once you’ve chosen the appropriate temperature for your home (we try to stick to sixty-eight degrees), don’t be tempted to bump the thermostat up a degree or two on chilly days. You should also avoid turning the thermostat up when you’re in a hurry to heat the house. Turning up the thermostat won’t make your house heat any faster. (If you have a programmable thermostat, however, you can program the thermostat to drop the temperature in the house when it’s empty or everyone is in bed.)
Use your home’s window dressings to make the most of Mother Nature’s heating system. Open the curtains on southern-facing windows during daylight hours. As soon as the sun sets, though, close the curtains back up to keep the cold night air from chilling the room.
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Tags: Saving Money
