DIY Bulk Shopping: How to Create Volume Discounts

For home decorations at a pumpkin-carving party, my friend Sadie purchased about 10 large pumpkins from an outdoor vendor. Based on the size of the order, she politely requested and received a discount. The seller — grateful for the huge purchase — even kicked in a few tiny pumpkins as a bonus.

Welcome to the world of do-it-yourself bulk shopping. You don't have to join a fee-based warehouse club or a food co-op to earn discounts for volume purchases. Online boutiques, grocery stores and even entertainment companies offer discounts for customers who make bulk purchases.

Volume discounts are popular in the world of online shopping, where many Internet-based companies will provide a price break or free shipping for bulk shoppers.
For example, http://www.cartoonnetwork.com/ and WBShop.com, the online store for Warner Bros. Studio, offer price cuts for event planners — personal or professional — who are staging a themed gathering, including a child's birthday party. For those two stores, savings vary and you have to purchase at least 15 of the same item to qualify for the bulk discount.

In the world of entertainment, some theaters offer discounts for large orders of movie tickets. Restrictions apply, but it's possible for several families or a small group to purchase and share a block of 50 movie tickets — good for future shows — at prices below standard box office rates.
For parties and home entertainment, specialty stores often sell cases of wine at a bulk discount. Even traditional grocery stores will offer a discount if you purchase food by the case.

The stores save on time and labor costs because the cases don't have to be opened and stocked in the regular aisles. Most products in the store qualify for the bulk savings. Just ask — at any store — to find the savings.

....If you are in the New York area on Tuesday, October 28 @ 6 p.m., please come to the Frugal Duchess book party at Hue-Man Bookstore & Cafe .
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Bankruptcy and Gift Cards-- Seeking Protection for Consumers

As a present, I was given a gift card to a store, which later filed for bankruptcy. My gift card is worth nada. Likewise, shoppers with Sharper Image gift cards have lost a combined total of $20 million after that store closed its doors.

With the growing popularity of gift cards, the Consumers Union is lobbying for regulations that will protect shoppers with gift cards when a store goes under.

Here's the release:

"Consumers Union, the nonprofit publisher of Consumer Reports, filed a petition today with the Federal Trade Commission (FTC) asking the agency to protect consumers from losing money on gift cards when retailers file for bankruptcy. The issue has come to light following recent retailer bankruptcies and millions in lost gift card dollars for consumers.

“Gift cards shouldn’t be the gift that stops giving when retailers go bankrupt,” said Michelle Jun, senior attorney for Consumers Union. “Unfortunately, there is no guarantee that consumers will be able to redeem the full value of their gift cards from struggling or bankrupt retailers.”

Consumers Union was joined by the Consumers Federation of America, National Consumer Law Center, and U.S. PIRG in filing the petition with the FTC.

In its petition to the FTC, the consumer groups urged the agency to require retailers to segregate funds generated from gift card sales in a trust account and to honor a consumer’s gift card as long as the doors remain open unless a bankruptcy court orders otherwise. Consumers Union called on the FTC to declare the sale of gift cards without segregating funds and holding the funds in trust to be an unfair and deceptive practice.

“Gift cards have exploded in popularity in recent years, but consumer protections haven’t kept pace with the record sales,” said Jun. “With more retailer bankruptcies on the horizon, the FTC should make sure that consumers with gift cards are protected when companies go bust.”

Bankruptcy courts treat unused gift card funds as a debt and determine whether or not the retailer must pay it. It’s up to the retailer to petition the court to allow it to continue to accept its gift cards. Consumers may lose the value of their gift card if the retailer doesn’t make such a request or if the court denies it. In these cases, the only remaining option for consumers is the cumbersome task of filing a claim as an unsecured creditor to the bankruptcy proceeding.

Earlier this year, consumers with Sharper Image gift cards were informed that they could no longer use them when the retailer filed for bankruptcy. At that time, an estimated $20 million remained unused on Sharper Image gift cards, and even more on related promotional cards. Sharper Image later petitioned the court to allow it to accept their own gift cards if consumers spent twice the value of the gift card on a single transaction.

Now that the retailer has shut its doors, consumers who want to redeem their gift cards must file as unsecured creditors in the bankruptcy proceeding. Attorneys representing gift card holders recently petitioned the court in the Sharper Image case to certify such consumers as a class to give them stronger bargaining position in the bankruptcy case. In either case, the process for getting any gift card funds back in bankruptcy court will be a lengthy one.

Although retailers may intend to accept gift cards to maintain customer loyalty and goodwill when under bankruptcy protection, they may not have the funds to cover the value of unredeemed gift cards.

After Linens N’ Things filed for bankruptcy, for example, it won court approval to continue to operate its gift card program. However, filings in the bankruptcy case made clear that the company did not maintain a cash reserve amount to fund outstanding gift cards.


While the FTC develops new rules, the consumer groups urged the agency to:

*Intervene in bankruptcy proceedings to petition the court to order the bankrupt company to accept its own gift cards at full value as long as the retailers’ doors remain open;

*Develop and maintain a new FTC registry on bankrupt retailers’ gift card practices;

*Require retailers to report to the new FTC registry within one day of filing for bankruptcy;

*Require bankrupt companies to stop selling gift cards no later than the date of the bankruptcy filing;

*Require retailers to inform third-party vendors to stop selling any bankrupt retailers’ gift cards; and

*Require third party vendors to immediately cease sale of bankrupt retailers’ gift cards."

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You Talk, I Answer About Sales Clerks, Kids & Money

A recent post about the teen sales clerk who befriended my 10-year-old daughter sparked a few comments. The conversation continues with my responses to the various comments. Feel free to leave feedback.

The short summary:

Telling My Daughter the Truth about Her New 'Friend,' The Salesclerk!

I had to tell my daughter the truth. At the risk of hurting my baby's feelings, I had to tell her that the cool teenager in the 'tween-age clothing store was not really a friend. The 16-year-old salesclerk --so cute, so charming -- was more interested in my 10-year-old daughter's wallet. I hope I did the right thing.

Evelyn said...

Oh you absolutely did the right thing. It's one of those life-lessons we never want our kids to experience, but an oh-so-necessary one. And who better to teach it than you to help her understand it ... instead of learning from the "school of hard knocks" later on. The more tools we give our kids when they are under are wings, makes it much easier for them to fly on their own when that time comes.

Thanks Evelyn:
I appreciate your feedback. Sometimes, it's hard judge when we're providing our kids with the right tools and when we're turning them into hardened cynics. I appreciate your vote of confidence.

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Penny said...

Honestly, salesclerks in stores DO NOT make commission unless they work in shoes. Clothing stores do not pay commission to people that sell tshirts and skirts. So, I think that while it was good to tell your daughter that the girl wasn't her friend -- you also have to look at the sales clerk and realize she's probably just a nice girl that likes to help out tweens because she is probably bored out of her mind. Seriously, I used to work at a clothing store and if you never help customers it's pretty boring.

Penny:
Thanks for your input. The sales clerk's behaviour could be attributed to kindness, boredom, a strong work ethic or the need for approval from her manager. Her motives may have been admirable.

But I felt a pang of concern because my daughter's wish to return to the store and spend money seemed driven by a need to please the nice teen sales clerk who had spent time with my daughter.

I had to say something. I was very kind to the sales clerk. I smiled, but I felt the need to draw some boundaries for my 10-year-old daughter.

Thanks so much for your feedback. It was great to get the other side of the story and I thank you for reading my blog and writing a comment!

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pam munro said...

The lesson is that people can be friendly and even charming and not necessarily be your friend - There was no harm in acknowledging a friendly salesgirl - there are too many snooty ones and fresh-faced enthusiasm should be encouraged - but she is acting in her salesgirl capacity - which you should make clear to your daughter -

Hi Pam:

I agree with you very much and thank you for your comment!

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Anonymous said...
I think you absolutely did the right thing. It is a hard lesson to learn but one that is best learned early. I think you chose your words VERY well. Think of it this way - in a few years she may be talking to a car salesman who wants to talk her into extended warranties and all kinds of extra bells and whistles for a car. You want her to be cautious of who she gives her money to. WELL DONE!

Thanks Anon!
Your comment means a lot to me. And you're right about future negotiations with car salesman and other vendors. Too often, we are steered and pushed toward trinkets and services that are not in our best interest. Even at the cosmetics counter, I sometimes feel a temptation to spend more money when the sales associate is especially nice. Thanks for stressing the importance of caution and discipline!

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Kristen said...
A great story and a great lesson in being a savvy consumer for your daughter. I own a store for tweens (boys and girls), and it was interesting for me to hear the emphasis the salespeople there put on showering the kids with attention. Our customer service is mostly geared to the parents. Any kind of hard sell is offensive to me, but to kids? Wildly inappropriate.

Kristen:
Your perspective as store owner is very valuable. It's good to hear that your sales approach is marketed toward the adults and not kids. At this store, however, the older teen girls aimed their pitch right at the kids and, like you, I found that tactic to be offensive. Thanks for your comment.

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Lauren said...
I think your actions and explanation to your daughter were dead on accurate. Even as adults we get caught up in slick marketing and advertising. Buy this and you will look like me, use that and your life will be wonderful.The cute 'tween clerk was overtly operating the same way. Kudos to you for recognizing it, and then taking the "teachable moment" to educate your daughter!

Chaucey said...
I think you did the right thing. I think a lot of people haven't learnt this lesson and end up overspending because the salesperson has been so nice to them. I read about this is in a marketing book where the concept was called reciprocity.

Thanks Lauren & Chaucey:
Great comments with thoughtful insights about marketing and "teachable" moments. Thank You! Thank YOU!


Thanks to all for writing!
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5 Shoes Ties Between Carrie Bradshaw & Me: Frugal Lessons Inspired by Sex and the City

Based on my history as a former New Yorker and part-time shoe model, I've been asked to examine the ties that lace me to Carrie Bradshaw and the Sex and the City girls. That question came from Will in the Wise Bread forum for bloggers. Here's my answer:

5 Shoes Ties Between Carrie Bradshaw & Me

1. Shoes: I used to collect shoes. At one point, I had over 50 pairs of shoes in my closet. However, whereas Carrie B. wears expensive Manolo Blahnik shoes ($400-$600), I collected discounted high-end shoes from Marsalls. I've purchased BCBG shoes for $22-29. (Full price: triple digits!) Nine West shoes for $6 and other bargains.

But my frugal shoe fetish was dangerous. On the screen, Carrie B. and her pumped-up fictional friends are aware of their expensive foot path. I lacked self-awareness and honesty. With my bargain shopping, I could easily trick myself into believing that I was really saving money.

Ha! Eventually, I started investing more energy (and dollars) in soulful pursuits and spending less on the soles of my feet. Of course, my heart still beats faster when I find a great deal on pretty shoes, but I can walk away from the shoe rack with my budget intact.

2. The Keyboard Connection: Carrie B. is a newspaper columnist. I'm a newspaper columnist. We both write from our personal observations. We both write about important issues: Carrie B. writes about sex; I write about money.

3. New York Lives: Carrie could have been one of my neighbors. In fact, I'm convinced that I once bumped into her at a small grocery store in Manhattan.

4. Mr. Big: No comment. TMI.

5. Valuable Friends: Carrie's close relationships with her friends are wonderful. Her friends provide free therapy sessions and column fodder. I can relate to those close connections. Even when my bank account was depleted, I've always felt rich in friendships.

My advice to Carrie:

#1 Forget the labels. In fact, by the end of the Sex and the City movie, she marries Mr. Big in a no-name dress at City Hall. This event takes place after their initial broken engagement and cancelled big-ticket reception with the over-the-top wedding gown. Clearly, Bridezilla had a high-profile meltdown!

At the end of the day, Carrie realizes that The Dress, The Label, The Reception shouldn't overshadow the real milestones of life. She frugally takes vows in a plain suit. Part of me wishes that we were all born smart and could just skip all of our financial, personal and professional meltdowns. Why can't we go straight to the happy ending and the credits?But that insight leads me to my second piece of advice for Carrie B.

#2 Enjoy the journey. It's all a process. I've learned about living frugally and meaningfully through excessive mistakes. Errors can pay long-term dividends or at least provide material for a blog post if we're honest enough to examine our mistakes.

Check out my answers to other questions at the Wise Bread Forum: Ask the Frugal Duchess a question! (Women of Personal Finance Spotlight) Thanks!

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

Use upcoming clearance sales to get a headstart on the 2009-2010 school year! That's one of the frugal, back-to-school shopping ideas from the editors of FamilyCorner.com.

Here's the list:

"Think ahead…
Your child doesn’t go back to school for another month. When is the best time to start shopping?

“To be honest, the best time to start shopping was last year’s back-to school clearance,” says Amanda Formaro of FamilyCorner.com. “This year’s back-to-school clearance is a great place to stock up for next year.”

Most stores hold their annual school supply clearances in late September, and generally offer discounts of 50% to 90% on essential supplies such as notebooks and pencils. Going back to the store a second time for crayons and college rule paper might not sound like fun, but you’ll thank yourself next year.


…But don’t jump the gun.
It’s only natural to want to get your family’s school shopping behind you as quickly as possible, especially when money is tight. But keep in mind that you won’t know exactly what your children will need until they get supply lists from their teachers.

“It’s a good idea to wait and see which supplies your kids will really need,” says Formaro. “Oftentimes, parents buy their kids brand-new markers, scissors, and glue sticks only to find out that those items are provided by the school – and that they should have bought rulers, calculators, and storage boxes instead.”

So unless you find bargains too incredible to pass up, save yourself some frustration by waiting to do most of your shopping until after the first day of school.


Don’t cheap out where it matters…
Sometimes it pays to not go for the cheapest option on school supplies. Case in point: Backpacks.

“Backpacks tend to be among the more expensive back-to-school items, but it’s important to look at a backpack as an investment,” says Formaro. “A durable, quality backpack will cost more up-front, but will save you money in the long run by lasting through several school years.”

If you opt for this strategy, try to avoid backpacks with trendy cartoon or movie characters emblazoned on them. Instead, go for more traditional solid colors or plaids. After all, this year’s hot Dark Knight Batman backpack won’t be quite as cool in a few years.


…But do cheap out if it makes sense.
“Some kids just seem to have a knack for losing things – even big, bulky things like entire backpacks filled with books,” says Formaro. “And they often repeat this process more than once a school year.”

If this sounds familiar, investing in an expensive backpack or lunchbox doesn’t make much sense if it will disappear in less than a month. Instead, a great source for free supplies is special events and giveaways. Baseball game family nights, county fairs, health seminars, and street fairs often feature vendors giving away free backpacks, totes, and even clothing. The quality might not be the best, but there will be no pain when the items go missing or forgotten. Many restaurants and toy companies also have special offers – just keep your eye out for them.


Give older kids a taste of the “real world.”
If you have teenagers, consider giving them a budget – especially for clothes. They can choose all the items they buy, as long as they stay within their given limit.

“It’s amazing how kids get creative when they’re put in charge of their clothing budget,” says Formaro. “Suddenly, they understand what the word ‘designer’ entails and become more open to less expensive versions of the same look.”

This technique allows kids to have a sense of freedom (choosing their own wardrobes) while learning real-world budgeting skills. Just remember to gently remind them that what they’re buying needs to last the entire school year – and stand firm on rejecting all last-minute requests for more money.


Make the Internet your first stop.
Whether you’re looking to buy a cheap calculator or a laptop computer, checking online coupon and special deal sites is a must before you leave the house. These sites feature little-known special discounts, rebates, and other special promotions on a huge variety of products that you’d otherwise never hear of. Searching for items is simple and takes just a few minutes – and you could be rewarded with significant savings. Just keep in mind that you may have to buy some items online to take advantage of some promotions.

Some of our favorite coupon sites include UltimateCoupons.com, DealLocker.com, Bargainist.com, and Boddit.com, which is a search engine that aggregates special offers and deals from a variety of sites______________

Here's how to buy my new book:

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They Retired My Brown Bag & Still Gave Me the Rebate

Is there an expiration date on a brown paper bag? I'm not sure, but a cashier at a local market decided that my brown paper bag needed to be permanently checked out. To save money, I often bring my own paper bags to the store. The payoff: I receive a 10-cent, per-bag rebate. On a typical shopping trip, I've saved 10 to 30 cents by providing my own bags. I wrote about bag rebates in this post: Saving 10 Cents at the Grocery Store.

One bag had been through the checkout line several times. Signs of wear-and-tear were obvious. One of the paper handles was ripped and the bag was so worn that the paper felt like soft cotton. On the bag's final trip, the cashier shook her head and the lady behind me studied my bag with admiration.


"Now that's recycling," she announced, while laughing.


The cashier retired the bag, threw it into the trash and bagged my items in a new, crisp brown bag. The best part: I still received the dime rebate. But the whole episode made me think about the process of recycling. These are my questions:



1) How long can you recycle an item before the process becomes a) gross, b) unsafe or c)pointless?



2) Do aesthetics matter? Should the physical appearance of a shopping bag, bottle or container be a factor in our efforts to repeatedly use an item?



3) Should we care about public opinion? My beat-up paper bag could be viewed by others as either ridiculous or as a badge of honor. But why did I care about the cashier's opinion? Did it really matter that other people in line laughed at me?


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How One Mom Uses a Freezer to Save Time & Money

With a full plate of family, work and community commitments, one busy mom -- a neighbor -- saves time and money with a 20-cubic-foot freezer. She considers it a valuable household management tool.

Her secrets -- bulk shopping and marathon cooking sessions. On a typical shopping trip she purchases 30 half-gallon containers of milk, and large quantities of chicken and salmon. Her super-sized shopping helps her reduce trips.

She keeps her freezer stocked with soups, home-made breads and other goodies. The rationale: cooking a large pot of soup takes no more effort than preparing smaller portions. And having a supply of prepared foods reduces kitchen prep time for this mom who holds down a part-time job.

She bakes bread for the taste and the savings. ''I don't buy baked goods,'' she said.

The freezer offers cold storage for uncooked noodles, cereals and other grain products. The freezer preserves freshness and keeps products bug free, a consideration in Florida.

Whether you store dry goods or meat in the freezer, the team at Whole Foods store recommends the following handling tips:

• Seal food properly. Food, especially meat and fish, should be properly wrapped and stored to avoid frost burn, leaks and cross-contamination.

• Don't block the fan. If a freezer is overstocked with food, a lack of ventilation could hamper the cooling units.

• Divide and seal fish and meat into meal- or individual-sized portions before freezing. Smaller portions defrost more quickly.

This is from my latest column in the home & design section of the Miami Herald.


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Let's Make a Deal: Haggling at Department Stores & Other Shops

Haggling over prices is expected at flea markets, yard sales and auto lots. But my sister, Debra Patterson, negotiated a sweet deal for kitchen chairs at a department store.

Her pitch: “If we buy more, can we get a discount?” The salesman didn’t have authority to respond, but a manager was able to give her a discount of $120 on the set of four chairs.

Asking for a lower price is a strategy that wins high marks from Consumer Reports. In a recent national survey of more than 2,000 shoppers, Consumer Reports National Research Center discovered that 61% of consumers have bargained for furniture, cell phones and other services at least once in the last three years. And of those who tried to cut a deal for home furnishings, 94% were successful in getting better bargains.

Among buyers who negotiated lower furniture prices, 61% saved $50 to $99, with 14% saving more than $100, and 26% saving $1 to $49.

Bargaining can also yield handsome savings on medical bills, home electronics products, appliances, jewelry and antiques, according to the Consumer Reports survey.
Whether dealing with a boutique or a national chain, here are some successful strategies:

- Seize moments of power. Use the opportunity of negotiating a new service contract or renewing an existing agreement to ask for a rate cut or extra perks.

- Use cash. Stores typically pay transaction fees of 2% to 8% on credit and debit card transactions, according to Consumer Reports. Cash sales have an extra appeal and many stores are willing to provide discounts for shoppers who pay in cash.

- Shop for flaws. Managers often give discounts for products with small flaws or for floor models.

- There are also savings in numbers. You can ask for a discount when you buy in multiples.

This is from my latest column in the home & design section of the Miami Herald.

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I Won't Eat or Spend While Standing Up

From a $1.49 bag of Lays of potato chips, I found a valuable lesson in personal finance and dieting. And that junk-food tutorial will dramatically change the way I shop and spend money. Here's what happened. When I cleared chips from the dining room table, I absentmindedly stuck my hand into the bag and crammed a handful of chips into my mouth.

But I wasn't hungry. But I was eating. But I wasn't thinking. But I was eating. Finally, my brain kicked out of the standby mode and I suddenly understood the 10 commandments of dieting, including the prohibition about eating while standing. In the upright position, it's incredibly easy to mindlessly consume calories. That's why dieting gurus always warn about eating while standing up. It's so easy to stuff my mouth with food without thinking. But when I sit at the dinner table or the breakfast counter, I'm more mindful of the process and I consume less.

That realization made me think about spending: In the grocery store, in the mall and in the clothing store, I'm usually standing when I make a purchase. But I now believe that if I sat down and thought about the merchandise in my cart, maybe I would spend less. Many stores--even grocery stores--have areas where I can sit, chill and rest. The health food store has a juice bar/cafe area; my neighborhood Target has a Starbucks corner and the grocery store near my home has park benches in front and even a little eatery inside. Buying a small cup of coffee could save me a fortune if while sitting, I carefully edit my shopping cart.

Think about it: When we make big purchases or large financial commitments -- a car, a home, college tuition -- at some point in that process, we actually have to sit down to sign papers or to test drive the car or to review documents. From that seated position, we have additional opportunities to consider our options and make thoughtful choices. During those moments, we negotiate with the sellers and with ourselves: Do I really want this merchandise? Do I really need it?

But in the mall and in most stores, we're often upright and on automatic pilot. And from that position, we leave a large trail of small coins and crumbs. We leak money without really thinking. So I'm not going to a) eat while standing and b) make a purchase without sitting down to think.

Of course, I will still eat potato chips, just smaller portions at the table.

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Previous Posts:

DIY Invitations: Bar Mitzvahs, Weddings & Other Formal Parties
What is Luxury? Town & Country: Luxe is a Moving Target
Reformed Spenders Provide 10 Ways to Save in 2008
Barking Dogs, Stinking Turtles and Sick Hamsters Taught Me About Money

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Sharon Harvey Rosenberg is the author of The Frugal Duchess of South Beach: How to Live Well and Save Money... Anywhere!, which will be published in the Spring of 2008 by DPL Press.

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Digg!

My Broken Cow Handles: Milking Cheap Ceramic for Frugal Lessons

Those are my broken cow handles (left) posed on a kitchen counter top. Made from ceramic, the broken handles were once attached to dollar store coffee mugs. As such, the story about the broken handles has provided me with insights about frugal living, smart purchases and preservation of possessions.

About two days ago, I found the broken cow handles when I cleaned the kitchen counter tops. Tidy counter tops are linked to increased wealth, according to Feng Shui Principles about space clearning and energy work. I've been on a campaign to boost my bank account by de-cluttering my home. (My new wealth-building program.)

Beyond the lessons of tidiness and order, this is what I've learned from the broken mugs:

• Shop Carefully: At a buck each, the cow mugs -- so cute, so different, so cheap -- came from a dollar store in our area. Shortly after we bought them, the handles fell off the cow mugs. Were we careless? Was the merchandise faulty? Should we be more careful about buying items from dollar stores? Those are a few of the questions that are now on my mind.


• Preserve Possessions: Most of our coffee mugs are in decent shape, albeit with a few chips here and there. And clearly, the cows mugs suffered the greatest damage in record time. But honesty prompts me to confess that other mugs (not many) in my home are missing handles. Are we careless with our possessions? Do we let our dishes pile up too often? Are we mugging our coffee mugs (and bank accounts) with careless housekeeping?


• Make Repairs Wisely: We tried to repair the cow mugs. (Super glue does not hold up in the dishwasher.) But what is the value of repairs? Does it make sense in terms of time, effort and resources? What are the risks? What if the repaired handles break while we're holding hot tea or coffee and our frugal repairs lead --heaven forbid--to an expensive emergency room visit?


• Stay Neat: It's taken me a while to track down all of the cow handles. And I think at least one handle is still missing in action. Why are my kitchen counter tops so messy? Why did it take me so long to find the missing cow handles and why have I held onto useless handles and so much junk?

Those are a few of the questions that are running around my head as I look at the broken cow handles. I still don't know what to do with cows or the handle-less mugs. Letting go of clutter and even useless ceramic cows can be difficult.

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Holiday Family Activities & More at Carnival of Family Life

Limiting the holiday advertising pull on our kids is one of several excellent posts at the Carnival of Family Life #3, which is hosted by The So Called Me. It's a fun lineup of stories, including several with a holiday themes and frugal holiday activities for families. Thanks to the host for including one of my posts.



Here are a few articles that caught my eye. Please visit the carnival, there are really some super holiday stories in the mix.

From Being Frugal.net: 5 Ways to Keep the Gimmes Away This Christmas. I like the tips about limiting kids' exposure to marketing pitches on the TV. Being Frugal even recommends tossing the toy catalogues that are stuffed everywhere like Thanksgiving turkey.


Isabelle Boulay presents The 5 Warning Signs of Staph Infection Should be Known by All Parents posted at Medopdedia. This one touches a nerve. My daughter had a few blisters on her thumb. Of course, with the recent bout of staph infection in our region of the country, she was sent right to the pediatrician's office. Not to worry; her thumb was just bruised. But we should all be familiar with the symptoms. This is a helpful post.



Tiffany Colter presents Don’t know what you’ve got, till you get it back. posted at Writing Career Coach.This is another keeper, I really enjoyed this refreshing post. It made me really think about all of the people, circumstances and gifts that I have taken for granted.

The Baglady presents The Cost of Living in Paradise Redux - A Financial Project All Young People Could Do posted at The Baglady. This post involves a school project in Hawaii, but the lessons in budgeting are applicable to all of us.




Previous Posts Today:
5 Reasons Why I Have a Crush on My Parents' Retirement Magazines
What to Do After Losing a Job or Before the Pink Slip Arrives


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The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store

Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
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"So When You're Rich, You Won't Have To Be Frugal," He Told Me

I was on a street corner, when a reader stopped and offered kind words about one of my newspaper columns in the home & design section of the Miami Herald. Very nice man! But he concluded his praise with the comment: "What are you going to write about when you're rich and don't have to be frugal anymore?"


I laughed and tried to explain that even if I were very wealthy, I would still live frugally. In fact, many of the wealth management books that I've read -- including the The Millionaire Next Door: The Surprising Secrets of America's Wealthy (1996, ISBN 0-671-01520-6) by Thomas J. Stanley and William D. Danko-- are filled with examples of very frugal millionaires. Here's a snippet from The Millionaire Next Door.

Here are the reasons why I'd still be frugal even if were a millionaire:

1. My children. Quite frankly, I don't want my kids to be brats. If we spent, spent spent, I'd worry about the message that I would be sending to my children. I also worry about affluenza--a financial illness that strikes spoiled kids from affluent homes. As a banking reporter, I once interviewed a very wealthy man who sold his bank for about $300 million in cash. He spoke about the issue of affluenza in harsh tones.

This is the advice he gave me. He told me that it is important to raise your kids with good thrifty values. "You can spend money to fix everything: their teeth, nose, skin. But you can't fix their personalities if they're brats." I really took that advice to heart.


What's more, I've noticed that some of my very, very high-net worth friends are very serious about making sure their kids work for a living. They find part-time jobs, internships and other money-earning enterprises for their kids or they encourage their kids to find those opportunities on their own. It's not about the money; it's about character.


2. My Children: I want to leave them with the means to live comfortably after I've gone to the next world. But if I spend it all now, I won't have anything to leave them later.

I've heard horror stories about families who have lived a luxurious life, but have been reduced to low-income status after a main wage earner suddenly died. Why? The family was living above its means and the lofty lifestyle was really only a fat paycheck-to-fat paycheck existence.

Also, if I were very wealthy, I'd live frugally in order to have enough money to share with my extended family and to pay them back for all of the years of hard work and support.

3. My own sanity. I've gone on marathon shopping sprees that have filled my arms with packages, but have depleted my heart and bank account. The worst shopping trip: In Manhattan during my late 20s, I once went went to every Ann Taylor store on the island (from the Upper West Side to the Lower Manhattan). I was searching for one shirt that was on sale for $20. I found the shirt and purchased one in every color.


Obviously, something was really missing from my life. But definitely, that missing piece of my heart was not in my shopping bag. And clearly, I was clueless. Frugal living, in contrast, keeps me more honest about what's really going on in my life.

4. Environment: When I live very frugally, I conserve energy, money and other resources. I just pay more attention to the world around me.


5. Good Karma: Now this logic may not apply to everyone: but in my heart of hearts, I think that if I save and spend money wisely, I'll have more funds to donate to charities, cultural organizations and to the homeless. And that cycle of giving will enhance the quality of my life.


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$75,000 Robot & Top 10 Expensive Gifts w/Photos & Frugal Tips

One expert on self-made millionaires has issued his own list (with eye-popping photos) of the most extravagant holiday gifts and his advice: Forget the hype & shop within a real budget. It's a fun list with great visuals. (see below) I have one question: Who buys this stuff???

Here's the guest post with photos, prices and tips (after the photos):

"Americans are expected to dish out a staggering $474.5 billion this year on Christmas shopping, according to the National Retail Federation (NRF). Jim Trippon, CPA and one of America’s foremost authorities on the money habits of self-made millionaires, has released his annual list of the most expensive gifts to give your loved ones this holiday season.

“Here is Trippon’s annual top 10 list of the most expensive holiday gifts for 2007:

1. Bugatti Veyron - $1.7 million

2. Neil Lane 15 Carat Diamond Earrings - $750,000

3. Runco 103-Inch Plasma Display- $99,995

4. Swami Conversational Robot - $75,000

5. Tiffany &Co. 109.73 Kunzite Bow Brooch - $74,500




6. Vertu 7.2 Carat Pink and White Diamond Phone - $73,000

7. Fendi Selleria Bag - $38,000

8. 1-Degree North Pole Dogsled Expedition - $37,500


9. Serendipity Frrrozen Haute Chocolate - $25,000

10. Friends of Cashmere Classic Pet Bed - $399

Trippon's Advice:

"Each year it seems that American’s top themselves in spending for Christmas,” says Trippon, “If you can afford the best without going into debt, that’s great! But I think most people forget that this holiday is about being in the right spirit, not getting overloaded with debt, which often produces money arguments the rest of the year.”

The NRF said that Americans plan to spend an average of $923.36 in total this year, up 3.7 percent from the previous year’s statistics. Given the credit card rates that are often at 24 percent and assuming minimum payments, Trippon says that this year’s holiday shopping will cost the average consumer closer to $6458.87 when interest and finance charges are included.

Trippon believes that people avoid arguing about finances when they take the time to become educated about money together.

“Get real and deal with your budget,” says Trippon, “Be honest with each other about your money habits and come up with a plan to spend it as a couple. It will improve your love life!”

Trippon is the author of the Amazon best-seller, How Millionaires Stay Rich Forever: Retirement planning Secrets of Millionaires and How They Can Work For You and the upcoming title China Stock Guru.

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Junk Food Delusions: What I've Learned by Saving $2 Daily

I don't eat a lot of junk food, but when I do it really kills my budget. That's the first major insight from my $2 a Day Savings Challenge. The junk food tally has caught me by surprise. With my house stocked with organic veggies, herbal teas and tofu, I've never thought of myself as a junk food queen. I do yoga! I walk miles!


But while trying to save $2 a day, my daily savings candidates have often come from the junk food department: Chips, ice cream, & candy. I'm stunned and the savings were real. In nearly every case, the money was in my hand before I veered away from the cash register.

Of course, I was traveling last week and earlier this week. But still, I see a disturbing pattern.

Here's what I've learned so far from my daily $2 a Day Savings Challenge


1. Hunt down your delusions. On some level, we all periodically lie to ourselves. From shopping rationalizations to bold lies about our savings accomplishments, we aren't always honest about our money and consumption. If nothing else, my little $2 a Day Challenge forced me to realize that I was lightening my wallet and thickening my waist by spending money on junk food.



2. Pack carefully when traveling: I thought I was a careful packer. But while on the road, we overspent because we failed to pack or misplaced a few necessary items. For example, when we switched hotel rooms, somehow we lost my son's dress clothes and spent a tidy sum on a new dress shirt, pants, and black socks. Thankfully, he looked great for the evening anniversary party.


We should have also packed more snacks for the road and the hotel room. Packing more of our own treats would have prompted us to spend less at the Super Target near my parents' home. I'm embarrassed to report that on one mini-shopping trip, we spent $92* and I'm not quite sure exactly what we purchased. (I'm seeking advice about this expense. See below.)


The good news: I felt guilty about our over-sized bill. Therefore, when I walked over to the Starbucks counter at Target, I couldn't bring myself to order a Latte. I put the money back into my wallet and stepped away from the friendly Starbucks server.



Bottom line: saved $3 @ Target
Spent: $92 @ Target

My $2 Daily Savings Challenge

Day 6 Aug. 24: (away from home)

$2.58: daily portion of $500 telecommunications savings
$3.00: skipped Starbucks coffee (drank the free coffee from the hotel)

But overspent @ Target

Day 7 Aug. 25: (away from home)

$2.58: daily portion of $500 telecommunications savings
$3.00: skipped Starbucks coffee

Day 8 Aug. 26: (away from home)

$2.58: daily portion of $500 telecommunications savings

I also found steep Florida resident discounts for a water park, but someone else paid the total bill, so I can't claim the savings.

Day 9 Aug. 27: (traveling )

$2.58: daily portion of $500 telecommunications savings

Day 10 Aug. 28 (back home)

$2.58: daily portion of $500 telecommunications savings

$5.44: saved on mini notebooks from Walgreens. Full price: $1.29 per book. Sale price 20 cents each. I really use those little books, so purchased five for $1.

Subtotal Days #6 - #10: $23.34

Year-to-Date Total: $201.00*

*By the way, I'm torn about the $92 Target splurge. Should I deduct the amount spent during that -unscripted, undisciplined shopping trip from my daily savings challenge total? Any advice?
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Jason Priestly Bulks Up at Costco & Things I Love 'n Hate about Big Box Stores

Check out actor Jason Priestly's shopping cart during a recent trip to Costco. In this photo (third down on the right column) from Us Magazine, Priestly has a cart filled with bulk purchases.

"You name it, I can cook it!" JASON PRIESTLEY (grabbing paper products and other groceries at a Hollywood Costco May 31) has said. "--Us Magazine June 18, 2007)

His cart contained: Huge packages of paper towels, bath tissue, detergent, OJ, a mop, plus lots of other stuff.

His overstuffed cart reminded me of the why I love and hate big box outlets.

Why I Love Bulk Outlets

1. Beautiful produce. In my neighborhood, there's a rumor that one very posh gourmet store gets all of its produce from Costco. Apparently, the buyer from the posh store picks the prettiest and lushest Costco produce, which is re-sold at big-ticket prices at the posh store. A friend of mine has even spotted organic produce at Costco.

2. Great gifts: A friend of mine always finds great gifts and crafts at Costco. She has a great gift closet.

3. The big packages: There's something very comforting about a supply closet stocked with enough paper towels, tissues and detergent to last for at least three weeks.

4. The books: Bestsellers are cheap, cheap, cheap at Costco. Of course, it's cheaper to just borrow a copy from a friend or the library.

5. Gas. Some Costco locations and BJ's Wholesale sell gas at super cheap prices.


Why I don't Love Big Box Stores:

1. The membership fee. Why do I have to pay to shop?

2. The random purchases and treasure finds. Some of my friends always come home from big box stores with random merchandise that they don't really need.

3. The unit price watch: Don't assume the big bulk purchases are the best deals. You have to do the math. Some of the so-called bulk deals are actually more expensive than the smaller packages.

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