$600 room for $149: Vacation Part 2

Staying in a $600 room for $149 is my definition of luxury. We're back from 2 days, one night at the Grove Isle Resort & Spa in Coconut Grove.

Trust me, the photos on the hotel website understate the beauty of this place.

Our little trip represented our attempt to experiment with off-season rates in a tropical resort near our home town. (Tomorrow, I'll write about how we kept the price low.)

Here's the breakdown of expenses.

$149.00 per night (The typical rate at the peak of the Miami season: $529. The maximum rate posted on the room chart in our closet showed a price of $700)
$20 overnight valet parking
$15 resort fee (included unlimited free use of hotel computer/Internet/biz center)
$21 taxes county and state tax

Altogether we paid $205 for a snippet of paradise.

Here's what I liked:

*Beautiful room with a water view

*Full balcony with comfortable, elegant chairs/table

*Unlimited use of computer, Internet/office supplies. (Very helpful for business travelers and bloggers)

*Free refrigerator in room

*Two televisions (including a large plasma TV in the main room and a small tv in the bathroom)

*Free morning newspaper (delivered in an elegant leather pouch)

*Free coffee (make it yourself in the room)

*Free use of fitness room.

*Beautiful walking trails, pool, spa area and seated/picnic areas

*A large chess set, with pieces that were almost as tall as my eight-year-old daughter. (My kids had fun playing chess on the oversized board)

*The complimentary bowls of fruit at the front desk and the fitness center.


The resort staff was kind, attentive and efficient.

Bottom line: Altogether, we spent less than $6o per person, with treats and perks for a fabulous short vacation that felt as if we were gone a week. We are so rested.

My Frugal Vacation Part 1

Using my phone and computer, I was able to track down some great end-of-summer travel deals. From special auctions to last-minute Internet promotions, there are many options for frugal travelers.

''If you want a wallet-friendly vacation, go off-season,'' said Marita Hudson, a spokeswoman for CheapTickets.com, an online service, owned by Cendant Corp., a company listed on the New York Stock Exchange.

CheapTickets.com sells discounted travel packages and stand-alone deals for hotels, cruises, air flights and car rentals. This service also offers a ''Cheap of the Week'' feature, which is a rundown of super cut-rate bargains.

CheapTickets also publishes a quarterly ''Off-Season Deals Report,'' which is a market-by-market rundown of off-peak prices in various cities. Not surprisingly, during hurricane season, New Orleans and South Florida offer some of the steepest discounts.

Of course, CheapTickets.com is not the only discount travel site in cyberspace. The many options include www.priceline.com and www.hotels.com. I even found an Internet site that runs auctions for last-minute travel deals, with prices as low as $1, plus taxes and transaction fees. The website is called www.skyauction.com.

The major travel websites (www.travelocity.com, www.expedia.com and www.orbitz.com) as well as most major airline, car rental and hotel chair sites also sometimes have specials.

For my own little end-of-season trip, I'm taking the off-season route. We're checking into a major resort in the Miami area. Off-season rates represent a significant savings. One resort quoted us a per-night rate of $159, compared to peak season rates of $269 to $429. When I mentioned our Triple-A membership, we were offered $143 per night.

And for that same resort, we found a rate of $100 a night on hotel.com. By staying local, we save at least $500 in gas and amusement park fees. I love roller coasters, but nothing beats a bit of rest and relaxation in an exotic, but local, retreat.

My Favorite Post-Its Pt. 2

The thunder in Miami has stopped and I can go back online without fear of a blackout. Here are more of my favorite links for the week.

Molly's Brother on a Budget has great info about sites that let you
swap gift cards.

Tired But Happy has an informative post about making money while blogging. Great tips and overview.

Millionaire Artist has an insightful post about setting realistic financial goals. She talks about the importance of setting deadlines. The bottom line: freedom & choice.

My 1st Million at 33 has a post on his biggest finanancial blunder. Hint: he "misused" a cash gift of $90,000. It's a thoughtful post, but I'll gradually exchange his worst financial blunder for mine.

Post-its: My Weely Blog Roundup

Lots of good stuff in the blog community this week. Here's Part I one of my
Weekly Post-its.

Yet Another Blog about Money has a thoughtful and thought-provoking post on dental insurance. With a straight-to-the point style that beneifts managers should emulate, this post walks you through the pros and cons of dental insurance. Is it or isn't it a good deal to sign on for the company dental plan or your own dental insurance?

Can you live a meaningful life without kids?
Financial Freedumb ponders those questions in a recent post and offers some info on adoption and foster care.

No Limits Ladies has an interesting post called seven cures for a lean Fendi purse (Cure 5.) I liked her comments about having a good home.


Well it’s thundering in Miami and I don’t want to fry my computer when the lights go out.
I’ll post more post-its later!

More Lessons from My Dog

Scruffy --our dog-- is a rescue dog. We may have "rescued" Scruffy, but he has saved us from so many bad habits.

A little while ago, I wrote about some of the (frugal and time management) lessons we have acquired from our canine pet.

The learning continues. Here's an update.

1) Focus.

We play a modified version of soccer with Scruffy. We kick a small tennis ball; he plays goalie. He's fierce. It's hard to get the ball past him, because he is so focused on that fuzzy yellow ball.

Lesson: I should be as tenacious and focused about my savings, personal and professional goals.


2) Enjoy the home cooking

The sight of our home-cooked meals makes Scruffy salivate. He jumps; he whines and barks for a sample of our dinner.(We don't comply)

Lesson: Enjoy eating at home. The home-cooked food on my table is a major treat. Who needs expensive restaurant meals? I'll eat out less and enjoy more.


3) Be Alert

Scruffy barks when he hears or sees anything unusual or out of place around our home. He's sweet; but he's a great guard dog.

Lesson: I should emulate Scruffy's state of attentiveness as I study bank statements, store receipts and other documents. I should hunt down mistakes and other random charges that are out of place.

My Delusions, Savings & Retirement

When it comes to saving for retirement, I'm as deluded as charged. After years as a relatively well-paid financial journalist, I cashed out of a 401 K plan, (several years ago) to launch a free lance career. (Not my smartest fiscal move!)

My new plan involves these options:

1) Save, Save, Save

2)Work until I'm 120 years (G-d willing) (Wanted: position at an upscale bookstore with health benefits)

3)Write a bestseller, that produces a constant stream of passive income

or

4)All of the above.

I'm too young to retire now, but the news release (below) from Kiplinger has made me think. Check out the link below to the retirement calculator.

Here is the piece:

"A FALSE SENSE OF SECURITY!

KIPLINGER’S PERSONAL FINANCE FINDS SIX IN TEN FEEL “ON TRACK”
FOR RETIREMENT BUT FAR FEWER REALIZE WHAT IT WILL TAKE

In a [2006] survey of American adults conducted by Roper Public Affairs, Kiplinger’s Personal Finance magazine discovered that six in ten (63%) feel they are “on track” for their retirement, with almost as many (62%) confident that it will not be necessary to work when they retire.

However, when queried about how much money will fully prepare them for retirement, nearly four in ten (37%) say they will only need $500,000 saved, and 24 percent say they will need $1 million. Almost one quarter (23%) reported they don’t know how much they will need for retirement.

“Most Americans feel like they are headed in the right direction, but they aren’t certain where the finish line lies,” says Kiplinger’s Personal Finance Editor Fred W. Frailey. “Successful retirement preparation requires a well-defined goal and a disciplined plan for reaching it. We estimate that a retiree would need to have $1 million saved to achieve $50,000 of annual income, at a 5% withdrawal rate.”

Individuals looking to learn more about their unique retirement situation are invited to consult the free target retirement calculators.

Here is a link to other Kiplinger retirement resources.

Your retirement target
• Your social security benefits
• How bigger contributions to retirement accounts add up
• Which IRA option is the best

"Kiplinger's Personal Finance magazine has been providing millions of Americans with down-to-earth advice on managing their money and achieving financial security since 1947. Along with Kiplinger.com it is a source of advice and information on saving and investing, taxes, credit, homeownership, paying for college, retirement planning, car buying and many other personal finance topics."

The Dirty Dozen: Scams to Avoid

From Phishing to bogus "credit counseling" services, there are lots of scams out there. Here is a thoughtful overview of the financial traps out there:

Taxpayer Beware! 12 Tax Scams You May Encounter This Year!
By Becky Schmitz, EA, CTRS

Have you ever noticed how con artists never take time off? They are constantly on the lookout for ways to either get away with something or create havoc in people’s lives. And where better than in the income tax arena?

Because fraudsters use tax situations to hook individuals, they often manage to trick people into believing they are complying with tax laws, when in fact these lawbreakers are using trickery.

Each year the IRS reveals the newest scams known as The Dirty Dozen, which try to manipulate laws.

This year, the “Dirty Dozen” includes the following:

1. Credit Counseling Agencies: Reputable credit counseling agencies can advise you in regard to managing money and debts, but taxpayers should use caution when soliciting the help of credit counseling organizations.

They may claim to fix credit ratings but agencies that push debt payment agreements or charge high amounts for their services could potentially add to existing debt. The IRS Tax Exempt and Government Entities Division, is currently in the process of revoking the tax-exempt status of abusive agencies.

2. Form 843 Tax Abatement: This is also a new scam in which filers use IRS forms to claim their tax bills have been wrongly inflated. By misinterpreting the law, a taxpayer will wrongly try to get a refund of previous years’ taxes. Many using this scam have not previously filed tax returns.

3. Phishing: One of the more common tax scams these days is occurring on the Internet. Known as ‘Phishing,’ it is plainly an attempt at identify theft.

The unsuspecting person receives an e-mail claiming to be from the IRS but it’s actually linked to a fake IRS website meant to solicit a taxpayer’s personal information, such as Social Security numbers.

The con artist then uses the information to file for a fraudulent refund. If you receive an e-mail claiming to be from the IRS but you are suspicious, call 1-800-829-1040 to report it.

4. Zero Return: Fraudulent promoters instruct taxpayers to enter all zeros on their federal income tax filings. Naturally, returns with all zeros are not valid. If a preparer tells you to enter all zeros on your federal tax return, report him or her immediately.

5. Trust Misuse: The IRS has become very aware of Trust Misuse and is cracking down on the practice. Unscrupulous tax scheme promoters urge taxpayers to use offshore trusts to hide assets.

Taxpayers should be very cautious about Trust Misuse and seek the advice of a trusted professional before entering into a trust. If anyone encourages you to transfer your assets into a trust to reduce your amount of income subject to tax, you should be cautious. Several promoters and their clients have been prosecuted for this abuse.

6. Frivolous Arguments: Under this scam, various constitutional arguments claim that filing and paying taxes is voluntary. The fraudulent promoter will allege that the Sixteenth Amendment concerning Congressional power to lay and collect income taxes was never ratified, implying that the IRS lacks authority to collect taxes. This is absolutely untrue.

7. Return Preparer Fraud: If it sounds too good to be true, it usually is. Return Preparer Fraud usually constitutes preparing and filing false income tax returns by preparers who inflate personal or business expenses, make false deductions, include excessive exemptions, and apply credits that are not allowed.

Taxpayers are responsible for accurate tax returns, so be aware of tax return preparers who promise big refunds. Make sure the company or preparer you are working with is credible.

8. Zero Wages: This is a fairly new taxpayer scam where the taxpayer attaches an incorrect form known as Form 4852 (Substitute Form W-2) or a corrected 1099 that shows zero income or little income. It probably includes a statement indicating a rebuttal of information that was previously submitted to the IRS. Beware anyone that encourages you to declare zero wages.

9. Abuse of Charitable Organizations and Deductions: The IRS has observed increased use of tax exempt organizations that improperly shield income or assets from taxation. In this scam, a taxpayer may try to move assets or income to a tax-exempt organization, but maintains control over the income or assets.

10. Offshore Transactions: The IRS aggressively pursues those who try to avoid U.S taxes by illegally hiding income in offshore banks and brokerage accounts or uses offshore credit cards, wire transfers, foreign trusts, and employee leasing schemes to hide money. The Internal Revenue Service has beefed up the money it will spend in the next four years to investigate these activities.

11. Employment Tax Evasion: Some scam artists encourage employers not to withhold federal income tax or other income taxes. This is based on an incorrect interpretation of the related tax code and is repeatedly proven false in court.

12. No Gain Deduction: Under this scheme, some tax filers try to eliminate their entire adjusted gross income by deducting it on Schedule A with the words “No Gain Realized.” This deduction has no basis in law, so if you are confronted with this, take heed. It won’t fly with the IRS.

If you think you've been a victim of tax fraud, you may call the IRS at 1-800-829-0433 to learn more.

Becky Schmitz, owner of Centsable Accounting, has recently been named the 2006 Top Practitioner from The American Society of the Tax Problem Solvers.

Collect a Commuter Tax

Save money when you drive by creating your own "commuter tax," according to the editors of Shameless Shortcuts, a book produced by the editors of Yankee Magazine.

Here's how the commuter tax works:

1) With each car ride, deposit 25 cents into a little container under your seat.

2) On a monthly basis, transfer your coin collection into an interest-paying bank account.

Believe it or not, the interest will add up and within a year you could have about $200 or more. That's enough for a spa treat, a short weekend getaway or an extra debt payment.

Or let the funds accumulate. For instance, if you collected $208 dollars a year in coins, and invested that same amount each year for 10 years, you would save/earn a total of $2,616, according to Hugh Chou's calculators . (Those figures are based on 5 percent annual return.)

(Shameless Shortcuts--$16.95 Rodale Inc./Yankee Publishing ISBN: 10899093914-- was edited by Fern Marshall Bradley)

Free Solar Calculators and Budget Tips

I recently received this news release touting a back-to-school freebie from Visa:

"Visa USA Giving Away 50,000 Free Solar Calculators

"Visa USA announced that it is giving away 50,000 free solar calculators through its at Practical Money Skills for Life financial education Web site

“To help students and their parents create a budget and stick to it, Visa is offering a free calculator and budgeting tips to anyone who comes to our financial education web site, ”said Jason Alderman, director, Visa USA.

Parents, students, teachers, or anyone who would benefit from a new calculator, can go to the home page of the Practical Money Skills for Life Web site to submit a mailing address so Visa can send the free calculator. Calculators will be sent as quickly as possible on a first-come, first-serve basis.

Resource Materials for Teachers and Parents

At the Practical Money Skills for Life Web site teachers can also access free lesson plans, as well as teacher guides, overheads and worksheets to help students develop personal finance, budgeting and money management skills.

For parents and students, there are interactive games designed to teach financial responsibility and important concepts such as earning, saving and budgeting money.

VISA’S BACK TO SCHOOL BUDGETING TIPS:

*Set a realistic back to school budget before you go shopping.

*Use back to school shopping as a budgeting lesson and have your kids prepare a budget with you.

*Take a print out of your estimated budget with you when shopping and have your child enter in all of the actual expenses.

*Encourage children to follow the budget. Stress that getting a more expensive item might mean sacrificing something else.

*Encourage kids to consider ways to cut costs and manage cash flow, like clipping coupons, looking for sales, or buying supplies each semester.

*Teach your kids to comparison shop to avoid impulse buying or paying for overpriced items.

*Differentiate between "needs" and "wants." Encourage children to contribute their own money to fill the gap between what they "need" and what they "want.”

*Tell kids that if they come in under budget, you will split the savings with them.

*Continue the budgeting lesson by starting kids with an ongoing monthly budget.
If your kids have a checking account, encourage them to keep up all cash, card, or check deductions in their checkbook register."

A Post-it on Fiscal Money Drains

I’m on a real big kick to trim the fat from my fiscal diet. So I just loved this post from the Mighty Bargain Hunter on 15 ways to save $15 dollars

My favorites from his list: drinking water (on rare nights in restaurants), canceling subscriptions you don't use and opting for a sink filter instead of bottled water.

And the comments following the post have great tips also.

As for me, I’m on a kick to reduce the energy charge in my house.

It’s the little leaks: speakers, radios and printers. Even when "off" and unused those item are still draining dollars from my sockets, especially the little gadgets with those little “off” lights. Real Simple did a recent piece about energy drains: the annual cost for plugged-in (but unused) gadgets is about $175, according to an article in that magazine.

So I've been running around my house pulling out plugs and turning off wall worts (multi-outlet units).

Biz Tips for the Home Budget

My home budget is a low-ticket balance sheet, but I can borrow a few financial notes from the business sector. I am going to use the following business-oriented tips for my personal financial plan. Designed for entrepreneurs -- this advice -- also applies to our home budgets.

I'm especially interested in the tips about a mid-year financial cash flow review
and the inventory check. (We can check our own stock of home products and equipment.)

Here is the news release:


"With more than half of the year 2006 gone, businesses must re-evaluate their cash flow strengths and weaknesses.


Studies show that cash flow, or a lack thereof, can make or break
a business. For 2006, there are some definite cash flow woes,
and businesses across the nation must avoid these if they are
going to be around for 2007.

Karlene S. Robinson of KPR Funding Solutions, LLC, reveals these
woes and some quick tips to improve cash flow for the remainder
of 2006. Study these tips to find ways to improve cash flow on
either side:

1. Build a Cash Reserve:
A cash reserve is a must. This is simply a set amount of cash put back into
savings for emergencies.

A rainy day, a sales slump, a natural disaster that
leaves the business closed for several days (or even
weeks), health, or even personal issues can occur when
least expected. Robinson encourges business owners to
save enough operating cash for the business to last at
least several months when hard times hit.

2. Re-evaluate Business Cash Movement:
Cash moves in and out of the business bank account for items such as
invoicing, outgoing bills, cash jobs and payroll.
Business onwers need to know where their cash is going
and where it is coming from.


3. Inventory Check:
Business onwers should take a look
at their inventory list to see if there are products that
could be moved faster by selling to another vendor or at
a discount to present customers. Inventory that sits too
long could become that much-needed money right now!

Frugal Duchess Comment: I'm checking our home cabinets and closets. We're looking for stuff that we could sell on eBay, giveaway or recycle.

4. Energy Costs: Every business must
look at energy costs as a serious cash vacuum after the astounding rise
of oil and fuel prices of 2006.

Whether it is the cost to operate machinery, heat/cool the business facility, or buy fuel for company vehicles, thousands of dollars can probably be saved by analyzing the current energy consumption methods.

Robinson suggests opting for more fuel-efficient vehicles
and to be sure that the business office, warehouse or
factory uses the most energy- efficient heating and
cooling systems available on the market. Examine the
facilities for areas that may be causing a loss of
energy.

5. Debt Management: Manage the business debts wisely.

Refinance at lower interest rates. Keep payments up-to-
date so no penalties will have to be paid. Renegotiate
payment plans that are hurting your cash flow. Debt does
not have to hinder the business. It can be managed and
overcome if the effort is put forth.

"Entrepreneurs can keep their company afloat when difficult times
hit if they take these steps to improve cash flow. Adequate cash
flow is the key to long-term success," states Robinson.

About KPR Funding LLC

KPR Funding is a consulting firm that provides funding options to
help businesses with their cash flow." More info about
managing and improving cash flow can be found at their website

Sitting on the Fence of Poverty

Chasing the fabled-American Dream is a nightmare for many workers.
PBS has a new documentary about the working poor. The stories put a new spin on Reality TV. Some real-life profiles are below.

Here is the release material they sent to me:

“WAGING A LIVING”
By Roger Weisberg (the film maker)

"Summary: The term working poor should be an oxymoron. If you work full time, you should not be poor, but more than 30 million Americans — one in four workers — are stuck in jobs that do not pay for the basics of a decent life.

Waging a Living chronicles the day-to-day battles of four low-wage earners fighting to lift their families out of poverty. Shot over a three-year period in the Northeast and California, this observational documentary captures the dreams, frustrations and accomplishments of a diverse group of people who struggle to live from paycheck to paycheck.

National Air Date: Tuesday, Aug. 29, 2006 at 10:00 p.m. on PBS. (Check local listings.)

People in the film:

Mary Venettelli, Cream Ridge, N.J.

Mary Venittelli is a 45-year-old single mother of three living in southern New Jersey. She led a very comfortable middle-class life until she started going through a bitter divorce. When Mary enters the workforce to support her family, the only job she finds in her rural community is a waitress position, paying $2.13 per hour plus tips. Her evening schedule at the restaurant forces Mary to hire babysitters that she can’t afford and puts enormous stress on her children.

Mary relies on local food pantries for emergency food, borrows money from friends, and runs up $15,000 in credit card debt to pay her household bills.

She loses her car and is afraid she will lose her house. Ultimately, her divorce settlement stabilizes her financial predicament, but she realizes that her future is not secure. Mary returns to school to acquire new computer skills and begins to build a new life for her family.

Jerry Longoria, San Francisco

Jerry Longoria is a 45-year-old security guard whose $12 per hour job barely covers his modest living expenses and his rent in a single room occupancy hotel in a blighted neighborhood in San Francisco. Five years ago, Jerry was homeless and fighting a losing battle with alcoholism. Today, he is sober and manages to send his children regular child support payments.

Jerry's real passion is his work for his union. He leads rallies, speaks at city council meetings, and helps organize a successful campaign to improve wages and benefits for security guards. His biggest goal is to visit his two children whom he hasn’t seen in nine years.

Eventually, he is able to save enough to make an emotional journey to North Carolina, but shortly after he returns, he has a disagreement with his boss and is fired. With the help of his union, Jerry finds a new job, but it pays 20% less than his old one. Jerry worries that it will take him years to advance to his previous salary and that his plans for future reunions with his children will have to be put on hold.

Barbara Brooks, Long Island, New York

Barbara Brooks is a 40-year-old single mother of five living in Freeport, N.Y. She grew up abused and impoverished but is determined to break the cycle of domestic violence and poverty. Barbara struggles to balance her responsibilities as a full-time college student, worker, and mother.

She makes $8.25 per hour as a counselor at a juvenile detention facility, but her earnings are insufficient to make ends meet. To supplement her wages Barbara receives a range of government benefits including Medicaid, food stamps, child-care assistance, utility assistance, and subsidized Section 8 housing.

Barbara eventually receives a raise to $11 per hour, but her increased earnings make her ineligible for most government benefits. She calculates that by earning an additional $450 a month, she loses almost $600 a month in government aid. “I’m hustling backwards,” she says.

Barbara is convinced that the only way to become self-sufficient is to get a college degree. When she earns her associate’s degree, she finds a job as a recreational therapist at a nearby nursing home that pays $15 per hour.

She loves her new job with its professional status, increased earnings, and full medical benefits, but quickly discovers that she is again going backwards when her remaining government benefits are eliminated. With a heavy heart, Barbara resorts to working part-time so that her benefits can be restored while she completes her college education.

Jean Reynolds, Keansburg, N.J.

Jean Reynolds is a 55-year-old certified nursing assistant in Keansburg, N.J., who is supporting her three children and two grandchildren. She leads her union’s successful struggle to increase wages, but since she’s been at the same job for over 15 years, she earns the maximum wage of $11 per hour and does not qualify for a salary increase.

Jean's oldest daughter has cancer and Jean struggles to pay her medical bills along with the other household expenses. When Jean takes emergency custody of two more grandchildren, her wages cannot stretch to cover the needs of her family of eight. She falls behind on her bills and is evicted from her home.

As the family faces the prospect of living in homeless shelters, Jean reluctantly turns to public assistance. Although the authorities have consistently rejected her applications in the past, they discover that Jean’s sick daughter now qualifies for help. With emergency public assistance, Jean manages to find a place for her family to live but still struggles to make ends meet. Ultimately, Jean feels trapped in a dead-end job and cheated out of the American Dream.



Filmmaker’s
Statement:“In making Waging a Living, I wanted viewers to understand what it’s like to work hard, play by the rules, and still not be able to support a family,” says producer/director Roger Weisberg.


“It’s easy to take for granted the janitors and security guards in the offices where we work, the waiters and bus boys in the restaurants where we eat, and the nurses and care-givers in the facilities where we place our children and elderly.

“ I wanted to bring viewers inside the daily grind of the nameless people we encounter every day who struggle to survive from paycheck to paycheck. My goal was to get people to take a new look at the prevailing American myth that hard work alone can overcome poverty."



On The Waging a Living companion Web site: offers exclusive streaming video clips from the film, a podcast version of the filmmaker interview and a wealth of additional resources, including a Q&A with filmmaker Roger Weisberg, ample opportunities for viewers to “talk back” and talk to each other about the film, and the following special features:

• Exclusive podcast series: Tune in to pov.org during the month of August for downloadable conversations about the struggles of low-wage earners in America. Participants include New York Times writer Nina Bernstein, Nickel and Dimed author Barbara Ehrenreich, filmmaker Roger Weisberg, and more guests to be announced shortly.

Five Tips for Hiring Financial Help

Who do you trust with your money? How do you screen out the duds and scoundrels? Here are a few tips that I found helpful.

The news release is featured below.

"Your Money….Who Can You Trust?

5 ESSENTIAL FACTS YOU NEED TO KNOW BEFORE HIRING A FINANCIAL PROFESSIONAL


It’s a question the vast majority of Americans face: Do you ‘go it alone’ when it comes to planning your financial future, investments, and savings plans; or do you get the help of an ‘expert’ to guide you through the process and ensure you get the most bang for your buck? Increasingly, most of us choose to seek professional help. But to whom do you turn to and trust?

Roland Manarin of Manarin Investment Counsel, named one of America’s top 100 financial advisors by Barron’s magazine, literally has seen it all when it comes to investments and financial planning.

FIVE TIPS FOR CHECKING OUT A PRO


1. A good financial professional will have their bacon cooking with yours. If they feel strongly about an investment, they should have their own money there.

2. Most financial professionals give advice slanted against true wealth-building principles. Most offer advice that is simply a repetition of what they’ve been taught. Successful long-term investment advice is not a “shoot from the hip” proposition. A sound understanding of the big picture–taking into account your personal goals and not the agenda of the financial professional–is essential.

3. Not all financial professionals are good investors. Most often, they make their money by selling you something; not by being successful investors themselves.

4. Be aware of big-name firm representatives. Most often, the big name firms only allow their salespeople to sell you products that the firm puts on its shelf. You want someone who can offer you anything on the planet.

5. Ignore salespeople; look for teachers. When considering a financial professional, ask yourself, “Is this person trying to teach me something or trying to sell me something?” The majority of financial professionals sell you what you buy based on your greed and fear. Look for someone who is willing to teach you, regardless of whether you invest with them or not.


Roland Manarin is president of Manarin Investment Counsel, Ltd. and portfolio manager of the Lifetime Achievement Fund. He is the featured host of the radio talk show It’s Your Money and creator of the Manarin Wealth-Building Seminar Series which he has presented since 1977 teaching investors to ignore conventional wisdom and practice true wealth-building strategies.

A renowned financial speaker, Manarin each year presents seminars and keynotes to businesses, institutions, universities, and investment conferences." Manarin's website.

Post-its: A Blog Roundup

Here are a few blog posts that caught my eye last week:

Cal Girl had a thoughtful piece about spotting errors on store receipts.


Momma & the Boys (living on a budget) takes you on a short tour of her should I buy the new couch debate.

Five Cent Nickel poses an interesting question: What would you do with a lot of bricks?

Seattle Simplicity has a thoughtful post about the percentage of money that actually goes into savings.


Frugal Homemaker has an inspiring post about getting organized and the expected frugal payoff.

Hey and check out Sharon's Muffin Calculator from Hugh Chou.

The Muffin Calculator from Hugh Chou

Hugh Chou, a systems network administrator at Washington University in St. Louis, is a hero in many financial circles for his free online devices: The ''Coffee Calculator,'' ''the Lunch Savings Calculator'' and the ``Gas Guzzling Calculator.''

Here's a link to Sharon's Muffin Calculator, designed by Hugh for this blog.

He calculates how much our little expenses cost on an annualized basis and how much we would earn if those funds were stashed in a long-term investment account.

I recently chatted with Chou and learned a lot. Ten years ago, he created a website that contained an online mortgage loan calculator. That service led to requests for more calculators from consumers and mortgage companies.

His calculators -- dozens of them -- are featured on his site, www.Hughchou.org. Click on Mortgage and Other Calculators.

Here's how the coffee calculator works: Plug in the cost of a cup of coffee, plus tax and your regular coffee-break snack. Input the number of cups you consume each working day. Based on $3 per day over a typical work year of about 250 days, the coffee calculator figures that your coffee break costs $750 a year.

Homemade coffee, Chou calculates, would cost only about 25 cents a day and over the period of a year, home-brewed coffee would save you $687. If you invest that amount in a 6 percent investment vehicle, and continue to do so on an annual basis, you would amass $9,061.80 in 10 years.

Chou's calculators enable you to plug in various dollar amounts, numbers of coffee cups and even the investment yield.

''I've always been pretty frugal,'' Chou told me. ''I've always brought my own lunch.'' Watching colleagues buying lunch each day led to Chou's Lunch Savings Calculator. The daily cost of a homemade lunch ($1.50) when compared to $5 takeout produces a savings of $875 a year. Over a 10-year period, skipping the $5 daily takeout could generate $11,000, based on a 5 percent annual yield.

Chou's Gas Guzzler Calculator lets you compare how much you'd save if your next car merely sips gas instead of guzzling it. You can plug in your car's miles per gallon and your commuting distance.

By the way, Chou donates a hefty portion of the proceeds from his calculators to charity. A portion of the donations also support his free site.

Here is his donations page:

Shrinking the Dollar: A Fiscal Check-up

I call it fiscal shrinking.

A credit card company and two psychology mavens have created a quiz that that will analyze your relationship with money.

Here's the news release:

"What’s Your Money Personality?

From Cheapskate to Spendthrift, Visa and Financial Psychology Experts Develop Quiz to Help Consumers Understand Their Relationship to Money


"Visa USA and nationally recognized financial psychology experts, Jon and Eileen Gallo, today launched a new interactive online “Money Personality” quiz to help consumers better understand their own individual approach to acquiring, using and managing money.

As part of this joint effort, Visa and the Gallos have created an interactive, online quiz that helps consumers assess and measure different aspects of their money styles in the areas of acquisition, use and management.

Practical Money Skills for Life

The tool, comprised of three interactive rulers that each represents these three different skill areas, is offered as part of Practical Money Skills for Life , a free, award-winning and comprehensive money management program provided by Visa. It can also be accessed at the Gallo’s website.

In the quiz, consumers are first asked to select a phrase from a variety of choices that best fits their money personality in each of the three areas of money acquisition, use and management.

Based on their choices, users can find out how their current relationship with money might be described. For example, one can be insatiable when it comes to acquiring money, a miser when it comes to using it and chaotic when it comes to managing their finances. Each one of the money relationship descriptions are then matched to corresponding money management tips and resources offered on the Practical Money Skills for Life Web site.

Silver Spoon Kids
Together, the Gallos are the coauthors of Silver Spoon Kids and The Financially Intelligent Parent. Additionally, they have developed the concept that everyone develops a unique relationship with money in three separate areas.

Practical Money Skills for Life (www.PracticalMoneySkills.com) is an award-winning, teacher tested and teacher approved financial education program. It is available for free, in English, Spanish and Chinese and is designed for teachers, students, parents and consumers.

Free Source for Teachers

This free educational resource provides teachers with lesson plans (kindergarten-college) mapped to their state education requirements, as well as teacher guides, overheads, instructional videos and CD-ROMs. For students, there are interactive games and calculators designed to teach financial responsibility and important concepts such as earning, saving and budgeting money.

“Through the years we have discovered that closely studying how individuals relate to money is a key to achieving a more secure financial life,” said money psychotherapist Eileen Gallo, who works together as a team with her husband Jon, an estate-planning attorney.

“The online tools we have worked with Visa to create will help consumers identify their relationships with money and based on those relationships give them free access to practical resources to make grabbing hold of their financial futures a little easier,” said Gallo.


About Eileen Gallo, Ph.D.

Eileen is a licensed psychotherapist in private practice in Los Angeles, where she helps individuals and families work with the psychological and emotional issues related to money and families. Her doctoral dissertation examined the psychological impact of sudden wealth.

About Jon Gallo, J.D.

Jon chairs the Family Wealth Practice Group of a major Los Angeles law firm. He is a prolific author of more than 70 treatises and articles on estate planning and, like Eileen, is a regular columnist for the Journal of Financial Planning.

Together, they co-chair the Committee on the Psychological and Emotional Issues of Estate Planning of the American Bar Association. Through the Gallo Institute, (a non-profit organization), they provide educational and consulting services for families and financial advisors on the issues of families, children and money.

About Visa

Visa USA is the nation's leading payment brand and largest payment system, enabling banks to provide their consumers and business customers with a wide variety of payment alternatives tailored to meet their evolving needs."

An Evacuation Kit for Your Money

There's been a lot of info about three-day emergency kits --water, canned goods, batteries-- for our homes, cars and offices. But what about a backup plan for our money?

Bank of America has a few suggestions. Of course, there's an emphasis on some of their online services, but the release has some good insights.

Living in a hurricane zone, emergency preps are apart of the household drill. Last year, we were smacked around by Hurricanes Katrina, Rita and Wilma. Other areas of the country are also hit by floods, quakes, wildfires & turnadoes.

This release -- featured below -- is thoughtful:

"Simple Tips To Help Households Prepare For Evacuations

"By taking a few precautions beforehand, however, consumers can avoid additional stress that comes with having to temporarily leave their homes. With that in mind, Bank of America offers the following tips to help households prepare for evacuations or emergencies:

#1

Know Before You Go – Centralize All Your Key Personal Financial Information

o Financial Institutions: Compile a list for each financial institution you have accounts and loans with, including credit card issuers

o Local Offices: If you have a designated location you plan to evacuate to, include the address of local offices, which can typically be found online.

o Secure Information: For security reasons, you do not need to include account numbers. Companies should be able to access your information with alternative information only you can provide.


#2
Leverage Technology to Access and Protect Your Personal Finances

o Online Bill Pay: By establishing online or electronic bill pay, consumers don’t have to worry about bills reaching them through the mail, particularly if property damage keeps them from returning home.

o Online Account Access: If you bank and pay bills online, you can access your accounts, including previous statements, from any location with internet access.

o Direct Deposit: Set up direct deposit with your employer to ensure your pay will automatically be deposited to your account.

o Financial Records Disk: Copy any financial records stored on your computer to a diskette or flash drive that you can store in a safe deposit box.

#3

Make a List of Important Names and Telephone Numbers

o Contact information for your mortgage service and/or home equity lender.

o Compile a list of home repair services you use such as roofers or tree removal companies. Check with your insurance company to see if it requires you to use pre-approved vendors.

o Additional contacts to consider including:

o Relatives

o Physicians

o Employer help-line

o Accountant

o Attorney

o Bank

o Credit card company

o Home, auto and health insurance contacts and policy numbers

o Home repair services/contractors

o Investment advisor

o Mortgage service

o Tax advisor

o Utility companies (phone, power, cell phone provider, cable, internet service provider)



#4

Pack a Financial “Go Bag”

o Include your contact lists along with photos of the interior and exterior of your home and an inventory of valuable contents.

o Have extra cash on hand, including small bills and coins. In addition to ample emergency savings, you may want to ensure you have credit available on a credit card for emergencies.

o Information you would need in applying for a loan, such as recent pay stubs and recent tax returns, can be beneficial to have with you.

Post-Thanksgiving Shopping in August!

December shopping before LABOR DAY? Does that sound absurd?

Actually, some of my frugal friends love to do their winter holiday shopping during the summer months. Lulu, for example, likes to save money by shopping year-round for presents.

In that fashion, she can stretch out her holiday budget and purchase gifts as the mood and the price move her.

Lulu stockpiles gifts in the garage or a closet and really, really tries to focus on finding the right gift for each person on her list.

She's not alone. That idea was recently touted in a current issue of a magazine. [I will look for the publication.]

Back-to-school promotions -- especially with the tax holidays in different states -- represent a great time to pick up trinkets, clothes, and paper goods for less. I also like the end-of-season sales that arrive with August.

I once purchased a cute jacket from Ann Taylor Loft for $15....reduced down from $105. I wear the jacket often and constantly receive compliments on the item.

So forget Black Friday! Let other people fight the Post-Thanksgiving crowds. I'll take the leftovers.

Frugal & Green School Supplies

Isn't there a cheaper and more eco-friendly way to obtain back to school supplies? The Center for American Dream has a few ideas that are frugal and green.

Most of the ideas are cool. My kids, however, may not go for the beach bag/backpack idea, but the other tips ring true.

Here is the news release:

Getting Ready for Back to School


"It’s that time of year again…time to rally the kids and head off to your local mega-mart to stock up on Back to School supplies. According to the National Retail Federation, the average American family is expected to spend $527.08 getting ready this year. But there are cheaper ways to prepare your family for the new school year. Here are a few tips for making the most of your financial resources, many of which will not cause you to look any farther than your very own home.

Backpacks
You could spend a lot of money to buy new backpacks with special compartments for iPods and other bells and whistles, but odds are you don’t need to buy anything at all to meet your children’s classroom needs. Do you have an oversized beach bag that will accommodate several textbooks and notebooks at a time? What about a roomy canvas tote bag or reusable grocery bag?

Yard Sales/Thrift Stores/Lifetime Warrantees
Even if you don’t have any appropriate bags already, you can often find these kinds of items very cheaply at thrift stores and yard sales—or tucked away in a closet. And did you know that some companies, such as Jansport, offer lifetime warrantees on their products? Even if an old backpack no longer zips correctly or has rips or tears, you can often send it back to the company for repair or replacement—at absolutely no charge.

If you do need to buy new, look for bags that are well-made and durable from a reputable company—preferably with a warrantee. Buying fewer products over the course of a lifetime is essential to saving money, and a good pack should last you for years and years.

Clothing
As noted in many places, thrift stores and yard sales are the best places for one-stop shopping on a budget, and this is probably most apparent when it comes to clothes. Kids grow out of their clothes quickly, and you can usually find all sorts of gently used sweaters, pants, and accessories from second-hand sources.

But because kids come in all shapes and sizes, it can be hard to find a good fit. Never underestimate the power of hand-me- downs among siblings, or even among friends. Clothing swaps and hand-me-downs are a great way not only to save money, but to extend the life of resources that have already been manufactured.

Computers
Truly green computers are hard to come by, but refurbished models are both environmentally friendly and will save you money. To find used computers in your area, try Craigslist, or contact computer manufacturers like Dell, which refurbishes and resells its products through Dell Outlet. (Check with your computer manufacturer for recycling of old computer equipment, too).

But perhaps the cheapest strategy is to determine what your family’s computer needs are. Younger children, who do not do a lot of word processing or internet research, are probably best off sharing a family computer. It might not be until college, when your child moves out, that it will be important to consider getting your child his or her own computer. Even then, many campuses have stellar computer facilities with flexible hours and on-campus tech-support.

Paper
If there’s one thing most of us have too much of in our lives, it’s paper. Why buy a new notebook or a new ream of copy paper when most of us are literally swimming in perfectly usable paper? The catch is that most of it—indeed, most of the paper that goes into recycling bins and trash cans all around the country—has already been used. But just on one side.

Recycled Binders

Get a few looseleaf binders and a three-hole punch (odds are you already have these items). Then go through your mail. Are you getting credit card offers and magazine renewal notices that are only printed on one side of each sheet? Do your kids have old handouts from last year still lying around? If anyone in your family works in an office setting, he or she can usually come home with mountains of blank-backed pieces of paper from the recycling bins. All of this paper is 100% post-consumer recycled paper—the greenest you can get—and it won’t cost you a dime.

For recycled paper notebooks, punch holes in the paper and put them in a handy reusable binder. For recycled copy paper... don’t punch holes in it. And when you or your kids print out documents, remember to always print double-sided so you get the most use out of your paper. It is also a good idea keep a supply of one-sided paper next to the printer for printing essay drafts and internet articles.

Recycled Cereal Box Notebox
Don’t like looseleaf notebooks? Check out the cool recycled cereal box notebooks some students in Michigan are making. (You can contact them for instructions to make your own.). Kids can pick their favorite cereals and make notebooks that are truly unique. It is a great idea for a rainy day project that is inexpensive and will (temporarily) wrench the kids away from the TV.

Pens/Pencils
How often do you actually use up the ink in your pens or wear your pencil down so far it no longer fits in the sharpener? Most of us buy this stuff all the time because we can’t keep track what we have. Invest in a reusable pencil case to keep writing utensils handy in the front of a recycled paper looseleaf notebook, or keep it simple with a Ziploc bag.

Bedroom and Decorating
If you have kids going off to college, don’t forget to check out the used furnishing offerings. Odds are you won’t find everything you need at the thrift, but you can find a lot of second-hand furniture at good prices there. Another excellent way to find more specific items is to search for them in the city nearest you at Craigslist (used, for sale) or Freecycle (used, yours for the taking)."

For more tips and statistics on back to school spending, visit New Dream

Moms: Unhappy With Plastic Rewards Programs?

Do we really take advantage of credit card rewards programs? Apparently not, according to this survey:

The actual text (edited) is below:

"Get the Most Out of Your Rewards Credit Card

While moms have rewards credit cards, many are not redeeming the rewards they have earned, according to the "All About Rewards" survey of moms nationwide, conducted by Harris Interactive and commissioned by the Disney Rewards(R) Visa(R) Card from Chase, a leading rewards credit card for families.

Reaping the Rewards
The "All About Rewards" survey found that 53 percent of moms with a
rewards credit card have not redeemed their points.

The survey finds that 55 percent of moms haven't redeemed their rewards because they feel they haven't earned enough points for something they want, while 41 percent are
waiting for the right time to redeem them. Additionally, 31 percent are unsure
of the rewards their credit card offers.

What Moms are Saying
The "All About Rewards" survey uncovered several other interesting findings
about moms who have a rewards card:

-- 41 percent of moms say they are dissatisfied with their rewards card
program

-- 34 percent of moms say their credit card does not offer the types of
rewards their family wants

-- 32 percent are frustrated by the restrictions their card carries (e.g. black-
out dates, limited availability to use rewards for flights and hotel rooms, high
point thresholds)

"Many families value variety and flexibility when it comes to rewards card
programs, which is why we designed the Disney Rewards Visa Card with no
block-out dates and no capacity restrictions that can be used towards just
about everything Disney from toys, DVDs and books to Disney Park tickets,
hotel stays, dining and shopping," said Jenny Cohen, vice president of
consumer relationship marketing for The Walt Disney Company.

For more information on the "All About Rewards" survey or the Disney
Rewards Visa Card, visit Disney Rewards Visa.

About the Survey
This survey was conducted online by Harris Interactive on behalf of Disney
Credit Card Services among 539 women (aged 18 and over), within the United States, who are the parent or legal guardian of a child under 18, of whom 223 have a credit card that gives rewards based on spending."

Travel Cheapometer from Cheaptickets

Wanted: a mini-vacation before or around Labor Day. Requirements: short, but cheap two/three-day excursion.

Therefore, I was really interested in a travel release from CheapTickets.com

I went to the company's website and discovered that Cheaptickets is part of a publicly traded company on the New York Stock Exchange. The company also partners with Priceline.com

On the Cheaptickets website two features caught my eye

1) The "Cheap of the Week" section
2)And the Last-minute Deals section....


Anyway: Here is the news release:

"CheapTickets.com Introduces New Pricing Guide


The Cheapometer is a new monthly pricing guide that analyzes where vacationers can get the most travel for their buck in the U.S. and abroad. The Cheapometer assesses and compares the cost of hotel rates, airfares and vacation packages vs. the average cost here in the U.S.

CheapTickets Travel Cheapometer Volume 1: European Hotel Analysis

The debut CheapTickets Travel Cheapometer provides an analysis of how the U.S. dollar stacks up in various European cities. This European Hotel Cheapometer calculates the average daily rate (ADR) of a 4-star hotel room in the United States compared to the ADR of 4-star hotel rooms in ten popular European travel destinations.

Average Daily Rate for a 4-Star Hotel

in the U.S. $158.39

in Poland $100.54
-37% (Percentage Difference relative to the U.S.)

in Germany $101.68
-36%

in Spain
$113.82
-28%

in Czech Republic
$125.33
-21%

in Austria
$126.84
-20%

in Greece
$127.70
-19%

in Italy
$144.51
-9%

in Netherlands
$144.76
-9%

in UK
$148.57
-6%

in Ireland
$151.00
-5%

Additional CheapTickets.com Travel Survey Findings


“The cost of a hotel room can be one of the biggest expenses during travel,” said Marita Hudson of CheapTickets.com’s Cheap Squad. “A less expensive hotel room is an indicator of how pricey the rest of the country or city might be during your stay.”

In addition to the finding mentioned earlier, other important survey information to note includes:

75% of Americans plan to take a vacation in the next 90 days

82% of travelers responded “No,” when asked if current economic conditions were impacting their vacation and travel plans over the next 90 days.

59% of Americans have plans to take an international vacation over the next 12 months.

Younger travelers are more likely to consider the value of the dollar in making travel plans.
46% of travelers aged 19-34
35% of travelers aged 35-54
30% of travelers aged 55+

Survey Methodology
This study was fielded by CheapTickets.com from July 14 -17, 2006 via the Internet using MarketTool’s online survey panel. 583 U.S. adults aged 18 or older were surveyed. All survey participants had traveled for leisure in the past twelve months and had taken at least one international trip in the past twelve months.


About CheapTickets

CheapTickets is a leading seller of discounted leisure travel products online through its Web site, www.cheaptickets.com.

CheapTickets provides consumers access to one of the largest selections of low fares, accommodations, customizable vacation packages, cruises, rental cars, condo rentals, and last-minute trips. Founded in 1986, CheapTickets is part of the Consumer Travel Americas group within Cendant's Travel Distribution Services Division.

Cendant Corporation's (NYSE: CD) Travel Distribution Services Division is one of the world's largest and most geographically diverse collections of travel brands and distribution businesses. The division, employing nearly 5,000 people in more than 116 countries, includes: .... leading online travel intermediaries (Orbitz, CheapTickets, Lodging.com, HotelClub.com and RatesToGo.com); Shepherd Systems, an airline market intelligence company; Travelwire, an international travel technology and software company; Travel 2/Travel 4, a leading international provider of long-haul air travel and travel product consolidator; online global corporate travel management solutions, through Travelport and Orbitz for Business.


1986
CheapTickets founded in Honolulu
1987
First call center opens
1997
CheapTickets.com launches, ahead of many competitors
1999
Initial public offering
2000
CheapTickets acquired by Cendant Corporation"

Free Your Inner Gulliver: A Swift Lesson

I received this news release about a book called: Free Gulliver: Six Swift Lessons in Life Planning by Tripp Friedler.

The book has great info about the frugal use of time and other important resources.

I've read a lot of books about how to make millions, how to make the most of every opportunity, etc. The bottom line in my reading: Stay focused & be passionate about your work, your dreams, etc.

"If your life is less than what you want it to be, resist the temptation to say, 'I can live with all these little strings,'" says Friedler. "Break those strings and jump up and chase your dreams. Life is too short, and too potentially rich and fulfilling, not to. When you're on your deathbed, your biggest regrets will center on the risks you didn't take, not the ones you did."


Anyway, here's the news release (with a few edits):

"You're tired of feeling exhausted, overwhelmed, trapped by a life that, frankly, feels more like an endurance race. If you can just get a handle on one corner of it, maybe you can start turning things around. By 2007, everything will be better . . . right?

Well, if you follow your usual path, no, says Tripp Friedler, author of Free Gulliver.

If you're not living a life you love, the symbolic little goals you keep setting (and abandoning) are meaningless. You need to set the mother of all goals--FREE GULLIVER.

STOP OVERSPENDING AND OTHER BAD HABITS

What's interesting, says Friedler, is that once you have freed Gulliver, those little bad habits --smoking, overeating, overspending--will be much easier to fix. Sometimes, they even dissolve away on their own. That's because so many of them are coping mechanisms you use to distract you from what's really important.

TRAVELING WITH GULLIVER

The reference, of course, is to the protagonist of Jonathan Swift's classic Gulliver's Travels.

In case you need a refresher on Swift's tale, Gulliver was a doctor who couldn't make any money on land so he decided to ply his trade on the sea. When his ship was wrecked, he woke up on a beach tied down by hundreds of tiny strings. The strings belonged to a group of equally tiny people--the Lilliputians--who shot Gulliver with little poisonous arrows when he tried to escape. So, not wanting to deal with the pain, he allowed himself to be tied back down for a while before he was ultimately freed.

"To free Gulliver is to slice through all the problems that are keeping you from doing the one thing you daydream about," says Friedler. "You know, that thing you keep putting off until the kids are in school, or until you get the house paid off, or until you retire. That's the resolution you should be setting. All those other yearly promises are just bandages--usually bandages with no adhesive!"

SHED THE FEAR FACTOR

· Freeing Gulliver really isn't that hard. We just think it's hard. But focus and clarity are the keys, and they're not necessarily easy to achieve.

Remember, Gulliver quit fighting the Lilliputians because their tiny darts were causing him pain. But when you realize the temporary pain of change is much less painful than the permanent pain of living in bondage, you'll realize getting clear and focused is worth it.

"Change is scary, but I think it's the anticipation that's the worst," says Friedler. "Once you've made the leap across the chasm, you kind of look back and realize the leap wasn't nearly as big as you thought it was. And if you're like most people, you'll wonder why you didn't do it sooner."


LOCATION! LOCATION! LOCATION!

· Don't be afraid to take an unflinching look at your location. Your location is where you are right now, the good, the bad, and the ugly of your current life situation. Looking at it may be frightening but it's absolutely necessary.

"Denial is the force that keeps people in limbo for many years," Friedler says. "I have found that most people don't want to know their location. They are afraid that they'll discover they don't have what it takes to buy that new house or change careers or whatever. But discovering their location actually reveals what they have to do in order to achieve that dream. It's nothing less than a paradigm shift in your thinking."

JUMP OUT OF THE MATRIX

·Free your passion and your passion will free you.(Gulliver). Of course, passion alone won't get you anywhere; it's just a third of what Friedler calls the "three legged stool," which also encompasses location and vision. But it's the rocket fuel that takes you where you want to go. "We all naturally have passion for something," says Friedler.

"Question is, are we putting it in the driver's seat or keeping it locked in the trunk? It's not my job to create passion in my clients, but I do help them access it and direct it. People are usually surprised to find they really do have the passion to reach what they want. I mean, they have the passion it would take to go one mile, and they think they're six miles away. I show them they're really only half a mile away--they have more than enough fuel."

(Check out his website, freegulliver.comFree Gulliver.

Free Gulliver: Six Swift Lessons in Life Planning by Tripp Friedler(Trost Publishing, 2005, ISBN: 1-933205-00-8, $19.95/).

About the Author:
Tripp Friedler is Gulliver. A born adventurer, he has weathered his share of storms, cut plenty of strings, and now helps others chart their own journeys. Interested in going back to school? Tripp has a law degree and is working on his second masters; he'll help you find the time. Want a career change? Tripp gave up records to manage a restaurant, sold a business to make more time for his wife and three children. As a Chartered Life Underwriter, a Chartered Financial Consultant, and an Accredited Estate Planner, he has studied the financial plans of over one thousand people and helped them create life plans to reach their goals."

Free Passport: Skip Online Tolls.

I found a great freebie in the August Issue of Real Simple.
Have you ever gone surfing online, found a great piece and then read three lines and faced a fee? Or worse, what if you really, really need this piece (for work, school or sanity)?

That has happened to me. I've hit the wall of fee-based registrations for online materials.

But with this free passport, you can skip pass the online tolls. It's called NetPass. (www.congoo.com)

Here's description from the company's website:

"Congoo NetPass Features

1. Download the NetPass.
2. Start enjoying instant, FREE access to nearly 300 premium content sources*.
3. Find exclusive premium content with Congoo search."


They have an outstanding list of online publications ranging from financial fee-based reports for Wall Street fans to popular or obscure newspapers, magazines and encyclopedias. There are lots of industry trade publications. Windows is required.

Slashing Auto Insurance for College-Bound

For many college students, access to a car creates a sense of freedom, security and flexibility.

It's the ultimate security blanket.

There are ways parents can reduce insurance costs while their kids are at school. Planning and research are the keys, says Rich Goebel, senior vice president of Answer Financial, an independent insurance agent that represents several top carriers in Florida and nationwide.

Begin with a four-question quiz:

1. Is a car really necessary on campus?

If the campus is more than 100 miles away from your home, and the student won't be driving while away, you may be able to save between 10 percent to 50 percent on your policy by removing your dependent driver from the policy. Other factors such as the age of the car, the region of the country, and driving records also impact price. Policies sharply differ from company to company. Shop around, Goebel said.

2. What's the campus zip code?

If your dependent child is taking a car to campus, parents may qualify for a rate reduction based on the location -- the college's zip code. ''Typically, metro urban areas have higher rates,'' Goebel said.

3. How will the car be parked?

A secure, guarded lot or a campus garage may earn lower rates. The presence of anti-theft devices can also yield discounts.

4. How's the report card?

College kids still qualify for ''good student discounts.'' A full-time student with at least a ''B'' average can bring an additional 10 percent to 25 percent price cut in the family's insurance rates. College grades are often reported directly to insurance companies, Goebel said.

OTHER TIPS: CAMERAS & ACCIDENTS

Meanwhile, Goebel recommends keeping a tip sheet in the glove compartment in case the student is in an accident. The checklist should include procedures and instructions for emergencies. Make sure the student knows how to request the names and numbers of witnesses at an accident and the name and number of the other driver's insurance policy.

Another handy item for the glove compartment is a disposable camera. Students should use it to document an accident from various angles. Record street signs. Documentation will make it harder for other motorists to simply blame the student.

Weekly Post-its: My Picks

Here is a weekly round-up of some of my favorite posts:

BIRTHDAY WISH
Happy Birthday to JLP's Dad

Forget the billboards, cards and balloons. Blogs can deliver great birthday wishes.

The creator of All Financial Matters, for example, has posted a great and instructive birthday message to his father. Sweeter than cake!

PUBLIC TRANSPORTATION SAGA

From Seattle Simplicity, this is a thoughtful item about commuting on a bus. I love public transportation, but this is the downside, all riders have experienced at one time or another:

Seattle Simplicity: Bus Commuter Tales of Woe


Number Crunching in New York


Hey, the numbers are overwhelming, but this thoughtful piece from My Open Wallet about financial security in New York made me miss my old loft in Manhattan. It's like a trip from Miami to my Northeast roots.
life in New York


RENT CHECK

Check out the new apartment from Through a Glass Darkly, which is tastefully furnished and significantly cheaper than the couple's last apartment. I think they spotted it on Craigs List

The photos are great. I love the cat! cool apartment

Selling Your Soul for Money?

This is a thoughtful piece about money, life and balance.

It was sent to me from the Himalayan Institute.
Here is the text:

"Must you "sell your soul" to be financially successful? This question has long troubled spiritual seekers.....Buddhist teachers regularly "renounced the world" and relied on donations for their livelihood. But what if you want to run a successful company, live in a nice neighborhood, send your kids to a private school . . . and live a spiritually rich life? Is it possible?

That's the question that Pandit Rajmani Tigunait, Ph.D.—spiritual head of the Himalayan Institute and author of the autobiographical book Touched by Fire: The Ongoing Journey of a Spiritual Seeker (Himalayan Institute Press, April 2005, ISBN: 0-89389-239-4, $16.95)- addresses.

"Real spirituality means to come to the center of your own life and become aware of who and what you are and not be affected by other people's opinions of you," Tigunait explains. "You gain respect for what you are and for what you are doing. You have full confidence that your work, your lifestyle, your job, and your business support what you believe in and support your own self-understanding. If you become financially prosperous in the process, that doesn't negate the spirituality."

Here are just a few of the points that Tigunait addresses:

Prosperity Defined

* The real meaning of prosperity. People think that prosperity means you make lots of money. You can buy the car of your choice, go on vacation to the island of your choice, and do anything you want to do. That is fine. However, prosperity to me is that which makes you really become a happy and healthy person, that which makes and brings happiness in your life. That's called prosperity. So it's inner prosperity that infuses your external world with happiness.

The End Goal of Money

* How money furthers your spiritual growth. Money has one simple purpose: to help you gather all the means and resources to make your life comfortable so that you preserve your time to do something that is more meaningful. Without those tools and means, without the comforts and conveniences, you would have wasted that time running after worldly success. Now that success is at hand, how will you further reinvest that success? How will you reinvest your worldly prosperity, your worldly wealth, to further regain and further recapture that inner wealth that is inside you? This is what spirituality does for you.

Spirituality does not mean detaching yourself, renouncing the world, and becoming a recluse. On the contrary, says Tigunait, it means to become successful, to become useful, to become productive . . . concepts businesspeople understand very well.

Pandit Rajmani Tigunait, Ph.D., the spiritual head of the Himalayan Institute, is the successor of Swami Rama of the Himalayas. Lecturing and teaching worldwide for more than a quarter of a century, he is a regular contributor to Yoga International magazine, the author of twelve books, including the best-selling At the Eleventh Hour: The Biography of Swami Rama of the Himalayas, and the force behind Sacred Link-The Healing Revolution.


For more information, visit Himalayan Institute"

Pop Shopping Quizz

I read a lot of magazines and the September issue of Woman's Day has a great article by Mary Hunt about shopping.

She offers an anti-wasteful shopping pop quizz.

Before making a purchase ask yourself the following questions:


1) Is this item really necessary? (if no, put it back on the shelf)

2) Is it affordable?(if no, put it back)

3) Do I own another item that will serve the same purpose? (if yes, don't buy)

4) Is it possible to wait and buy a cheaper substitute later? (if yes, don't buy)

5) Have I really shopped around for the best deal? (if no, don't buy)

6) What happens if I delay this purchase? This is the trick question. (if you're not going to lose the home of your dreams, the perfect shoe or a night's sleep, forget it!)


By the way, Mary Hunt has written a new edition of her book: Debt-Proof Living. Woman's Day is giving away free copies of the book during the entire month of August.

No purchase to enter. Here's the link for submitting your entry: Mary Hunt book contest

BACK TO SCHOOL SHOPPING LESSONS & TRENDS

Back-to-school shopping is a great opportunity for teaching kids the ABC's of money.

It works in my house and I'm not alone. The folks at MasterCard put together a news release (featured below) about shopping, kids and money. The MasterCard release has some good information about back-to-school shopping trends. I like the part about discount stores the best.

eBay is also a great spot for finding bargains in school supplies. Super cheap stuff, including new items that can be purchased in large supplies that will last for the entire school term.

Anyway, here's the MasterCard text:

"Parents use Back-to-School Shopping to Educate Children About Budgeting


As parents leverage payment cards to manage spending, they’ll also use this opportunity to discuss financial management with their children. In fact, more than half of parents (53 percent) plan to leverage back-to-school shopping to talk to their children about budgeting and spending wisely, according to the findings of a new MasterCard Worldwide survey.

Conducted by Harris Interactive, the annual MasterCard Back to School Spending Index found that 58 percent of parents of U.S. students college age or younger plan to use debit cards for back-to-school purchases, increasing from 26 percent in 2005.

Shoppers & Habits

The MasterCard Back to School Spending Index survey revealed further conclusions about parents’ back-to-school spending habits:

Parents of U.S. students college age and younger expect to spend, on average, $424 this year on back-to-school items. Sixteen percent anticipate 2006 back-to-school expenses for books, clothes, and supplies to exceed $500.

Three out of four (75 percent) parents anticipate spending the same amount (40 percent) or more (35 percent) this year as compared to last.

Eighty percent of parents said their child or children will accompany them on shopping trips for back-to-school items. Nine percent of parents said they will go alone, while 11 percent of parents said their children will do the shopping alone.

The Shopping Lists

Clothing is by far the most popular item on back-to-school shopping lists. Two-thirds (64 percent) claimed that clothing will be their highest expense, followed by books (13 percent) and supplies (9 percent).

The Stores

Understandably, the most sought-after shopping destinations for parents are discount stores, with more than 86 percent planning to purchase back-to-school items from a discounter.

Consumers will also head to office supply stores (46 percent), department stores (38 percent), specialty and apparel retailers (20 percent), and drug stores (16 percent).

About the Harris Interactive Survey
MasterCard commissioned the Harris Interactive study as a part of an ongoing effort to better understand consumer attitudes and behaviors with regard to back-to-school spending and money management. Harris Interactive® fielded the study from July 5-7, 2006, via its QuickQuerySM online omnibus service, interviewing a nationwide sample of 2,056 U.S. adults

Finding Fall Funds for College

A college education costs a bundle, with some price-tags exceeding six-figures for a four-year term.

The news release below has some great tips about generating financial aid--even at the last minute.

Also in the August 8 issue of Woman's World there are a few insightful quotes from Ric Edelman, who wrote The New Rules of Money. The snapshot summary of the book appears on page 25 of the August 8 issue of Woman's World.

Example

Old-School Rule:
A big-ticket college means a big-ticket salary

Edelman's New-School Wisdom
Expensive tuition + four years does not automatically equal a high post-college salary.

"Consider the expected salary and then choose a school where the tuition is manageable," according to Edelman.

The payoff: lower tuition = lower student loan bills after graduaction.

______

And here's the news release that I mentioned above:

"DON’T LET SUMMER PASS YOU BY:

FIVE TIPS TO HELP STUDENTS AND PARENTS

FIND FUNDS FOR THE UPCOMING SCHOOL YEAR

"The lazy days of summer can be time well spent for students and parents looking to narrow the gap between their financial aid packages and upcoming tuition bills. Acting now to search out and secure additional funds before the back-to-school season can give families an advantage that can translate into thousands of dollars in tuition aid.

With college tuition continuing to rise at double the rate of inflation, families should be sure to explore all available avenues for college funding. College Loan Corporation offers the following five tips for families and students looking to secure additional funds:

1. Free Scholarship Searches: Exploring free scholarship searches can be a worthwhile exercise, often yielding valuable additional funds for college tuition. Scholarships are available to every student and family, even those who mistakenly assume they will not qualify; many scholarships are awarded regardless of financial need. A free scholarship search engine accessing more than 1.3 million scholarships worth more than $3 billion is available at www.collegeloan.com.

2. PLUS Loans for Parents: Federal aid is not available only to students; parents can take advantage of low-cost federal financing as well. Many parents don’t realize that PLUS Loans are available to them and offer comparatively lower interest rates than consumer loans. PLUS Loans are not based on financial assets and no collateral is required. Parents of dependent undergraduates can borrow up to the full cost of attendance, minus any other financial aid the student has received. PLUS Loans can even be used to pay the Expected Family Contribution!

3. PLUS Loans for Graduate/Professional Students: New this year, graduate and professional students can take advantage of this excellent federal financing program. Like the parent PLUS Loan, the Grad PLUS Loan offers low rates and ease of approval. But, don’t be fooled by the name – this PLUS Loan isn’t for parents. Graduate and professional students - not their parents - apply directly for this loan to meet the full cost of attendance, minus other financial aid received.

4. Alternative Loans: Alternative Loans can provide a sensible solution for families looking to bridge the gap between federal financial aid and Cost of Attendance. Many Alternative Loans offer an easy online application, deferment options, flexible repayment plans and repayment benefits such as interest rate reductions and a co-borrower release option. Alternative Loans are not backed by the federal government and vary by lender, so borrowers should shop around for the best terms and conditions.

5. Check with Your School’s Financial Aid Office: Students should be sure to call their school’s financial aid office or visit their website. Financial aid counselors are valuable resources and can help families achieve their goals for higher education. They are equipped with the expertise to help find the funds that students and families need in time for the fall semester.

Getting an early start is especially important this year as increases in college tuition continue to outpace family income. Last year the average annual tuition at four-year private universities rose 6% to $21,235, and this year’s increases are comparable. The increases, coupled with more students competing for less aid, are making this one of the toughest years yet for securing much needed college funding.

One last word of advice – do your homework! There are plenty of resources and information available to help students and parents finance education costs. College Loan Corporation offers free student aid guides, such as Financial Aid 101 and Paying for College, to help students and families learn more about their financial aid options. Start by visiting college loans calling 1.800.2COLLEGE or contacting your school’s financial aid office as soon as possible.


About College Loan Corporation
College Loan Corporation (CLC), headquartered in San Diego, is the nation’s seventh largest student loan provider, managing more than $9 billion in student loan assets. By offering innovative loan products and industry-leading customer service, the Company has helped make higher education possible for more than 600,000 students and families. More than 900 colleges and universities have designated College Loan Corporation as a preferred lender. CLC’s student loan hotline offers expert loan consultants 24 hours a day, 7 days a week at 1.800.2COLLEGE.

Making Your Money Smarter

As a degree-carrying English Major, I know how hard it is to understand the world of finance.

But it's important to get the low-down on money management, financial vehicles and other investments. Face it: You can only save so much by clipping coupons. It's important to make your coupon-clipping dollars work for you through smart investments. And no one is going to watch over your money with the same amount of attention that you will.

Because of a career choice, I was prompted to learn about the world of finance. I read the Wall Street Journal everyday and Barron's every Sunday with a cafe latte as a treat. Those publications and others finanacial periodicals really explained many of the major and minor financial terms. I also made a point of talking to financial gurus in informal--non-sales!!!!--settings. People love to talk and I learned to listen.

There are also many non-profit investment websites with great information.


The following release also has some interesting thoughts about money and personal responsibility.

FULL RELEASE BELOW:

"A recently published national study commissioned by financial brokerage firm Edward Jones shows that, while employer-provided financial education may be on the rise, more than 35 percent of working Americans still feel they are lacking the proper education to manage their own retirement portfolios.

The number skews higher for part-time, lower income or non-college educated workers. Across the board, only 25 percent of American workers find their employer to be “extremely helpful” in providing information at work that will help in retirement planning.

Among the other key findings from the survey conducted by Kelton Research:

▪ Almost half (48 percent) of those surveyed with annual household incomes of less than $25,000 agree that their employers are not helpful in retirement planning.

▪ Those who work part time are 21 percent more likely to agree that their employers fall into the unhelpful category.

▪ Those with more education are getting more help. Nearly two-thirds of those with college degrees agree that their employers are at least “somewhat helpful” in helping them plan for retirement.

The study of 1,000 American workers attempted to better understand the financial educational landscape as more employees are forced to manage and care for their retirement funds.

“These results clearly suggest that employers must do more to arm their employees with the education necessary to manage their financial futures,” said Ken King, partner in charge of the Edward Jones employee education department.

King pointed out that the issue impacts a broad cross section of employees, regardless of the type of retirement plan the company offers.

"It doesn't matter if the company plan is defined benefit or defined contribution, employees need to take a more active role in managing retirement funds. Without the proper education, many Americans could wind up squandering vital resources they will need in retirement,” King said.

About Edward Jones

Edward Jones provides investment advice and financial services for individual investors in the United States, Canada and the United Kingdom. Every aspect of the company’s business, from the types of investment options offered to the location of branch offices, is designed to cater to the individual investor in the communities in which they live and work.

Edward Jones is headquartered in St. Louis, Mo."