If savings goals are so important, why is it so hard to put together a nice chunk of change? That's the question explored in the A.G. Edwards Nest Egg Score Survey.
A. "It’s the cost of living and debt," according to A.G. Edwards, an investment and money management firm. "Surprisingly, those aged 35-44 – a group with high earnings potential – had the hardest time building a nest egg due to debt."
Here are the survey details.
* "Essential? Extremely important?" That's how 47 percent of Americans feel about building a nest egg, according to the Nest Egg Survey.
* "55% cited cost of living and everyday expenses as the biggest obstacles to building their nest eggs.
* Another 28% said the biggest obstacle was too much debt.
* Only 66% of all respondents have a retirement plan.
* About 58% of non-retired respondents said they have no idea how much of a nest egg they should have to live comfortably in retirement."
Patching the Cracks: Solutions:
"Be proactive. The most important thing is to get started while time is on your side. The more time you have to save, the better off you’ll be.
Out of sight, out of mind. Don’t fund your retirement with the money that’s left over at the end of the month. Using direct deposit, you can have a portion of your paycheck put into your retirement/savings account automatically. What you don’t see, you can’t spend.
Find out what retirement will cost you.
Create a realistic plan to pay down debt. Debt can eat away at your retirement savings. Get a pay down plan to attack the debt – and get rid of it – so you can focus on building your nest egg."
Thursday, September 21, 2006
Wednesday, September 20, 2006
This Clothes Horse Comment Deserves a Post
Thank You Simplicity in Kansas. Your recent comment about my fashion victim post prompted me to create this follow-up post featuring your response.
Here is the comment from Simplicity in Kansas about overstuffed closets:
"I work at a Fortune 100 company and work clothes for me are important and in the past, I had a huge closet of idle clothes. So what did I do?
1 - Cleaned out the closet by donating 70 percent of all items that I was not wearing.
2 - Exchanged to natural fibers away from dry clean only garments. Decreased my costs, improved the environment and am more comfortable with that decision from a physical perspective.
3 - Learned to do laundry better. Yes, a lesson from my mother: Steaming and hanging the clothes and then a light ironing really works.
4 - Small repairs. In the past, a rip meant into the trash. Today, rips are an opportunity to sew better.
5 - Five pairs of shoes - two basic for work, one for exercise, one for casual, one for fun. Shoe trees a must.
6 - Undershirt (Male perspective). I now wear undershirts to keep my work clothes from being impacted by my 'being human' results of walking and living. This extends my work shirts.
So, my closet is much smaller, cleaner and without the 'run rate costs' of dry cleaning. Also, I am getting more use out of the clothes I am wearing and feel better about my decisions."
Here is the comment from Simplicity in Kansas about overstuffed closets:
"I work at a Fortune 100 company and work clothes for me are important and in the past, I had a huge closet of idle clothes. So what did I do?
1 - Cleaned out the closet by donating 70 percent of all items that I was not wearing.
2 - Exchanged to natural fibers away from dry clean only garments. Decreased my costs, improved the environment and am more comfortable with that decision from a physical perspective.
3 - Learned to do laundry better. Yes, a lesson from my mother: Steaming and hanging the clothes and then a light ironing really works.
4 - Small repairs. In the past, a rip meant into the trash. Today, rips are an opportunity to sew better.
5 - Five pairs of shoes - two basic for work, one for exercise, one for casual, one for fun. Shoe trees a must.
6 - Undershirt (Male perspective). I now wear undershirts to keep my work clothes from being impacted by my 'being human' results of walking and living. This extends my work shirts.
So, my closet is much smaller, cleaner and without the 'run rate costs' of dry cleaning. Also, I am getting more use out of the clothes I am wearing and feel better about my decisions."
Carnival of Debt Reduction at Finandom
The Carnival of Debt Reduction #53 is up at Finandom.
The topics include: Foreclosure Prevention Tips, Freelance Work & Debt reduction, Gratitude & Debt and “Using Windfall to Pay off Debt.” There’s lots more good stuff, including a few stories with more of a personal finance twist.
Thanks to Finandom for including my post in the Carnival.
The topics include: Foreclosure Prevention Tips, Freelance Work & Debt reduction, Gratitude & Debt and “Using Windfall to Pay off Debt.” There’s lots more good stuff, including a few stories with more of a personal finance twist.
Thanks to Finandom for including my post in the Carnival.
Hip Hop Mogul Hits the Money Beat
Don't let the bling-bling fool you, money management is the ultimate bottom line. Those sage words come from Hip Hop king and Phat Farm clothing chief Russell Simmons, who recently spoke about the importance of fiscal planning and credit management at a financial empowerment conference at Morris Brown College.
Responsible money management, Simmons told the crowd of 1,500 should be a priority for teens and young adults.
"They don't need to just pay attention to the bling," he said. "Rappers spending countless money are on television. But in real life, these artists are very responsible with their money."
A free financial management workbook called “Get Your Money Right,” was given to all participants. The workbook -- in Spanish and English -- is available at Hip-Hop Summit Action Network.
The event --part of a national tour -- is orchestrated by the Hip-Hop Summit Action Network (HSAN), with co-sponsers Chrysler Financial, the title sponsor, and Anheuser-Busch.
“With rising tuition costs, the cost of books, gasoline etc. young people can’t afford not to have financial know-how,” said William F. Jones Jr., Vice President – Chrysler Financial.
The Atlanta Hip-Hop Summit was held at "the Atlanta University Center on the grounds of the historic black college, Morris Brown College."
The summit included: "hip-hop stars Jermaine Dupri, Ludacris and Young Jeezy," and others.
For additional reading:
Hip-Hop Summit Action Network (HSAN) news release
AP coverage on Yahoo
Vibe magazine coverage
Responsible money management, Simmons told the crowd of 1,500 should be a priority for teens and young adults.
"They don't need to just pay attention to the bling," he said. "Rappers spending countless money are on television. But in real life, these artists are very responsible with their money."
A free financial management workbook called “Get Your Money Right,” was given to all participants. The workbook -- in Spanish and English -- is available at Hip-Hop Summit Action Network.
The event --part of a national tour -- is orchestrated by the Hip-Hop Summit Action Network (HSAN), with co-sponsers Chrysler Financial, the title sponsor, and Anheuser-Busch.
“With rising tuition costs, the cost of books, gasoline etc. young people can’t afford not to have financial know-how,” said William F. Jones Jr., Vice President – Chrysler Financial.
The Atlanta Hip-Hop Summit was held at "the Atlanta University Center on the grounds of the historic black college, Morris Brown College."
The summit included: "hip-hop stars Jermaine Dupri, Ludacris and Young Jeezy," and others.
For additional reading:
Hip-Hop Summit Action Network (HSAN) news release
AP coverage on Yahoo
Vibe magazine coverage
Tuesday, September 19, 2006
Financial Planning with My Blog Revenue
Penny by penny, I'm approaching the $75 mark (WOW!), from Adsense revenue. I'm almost at the coveted $100 mark, which means that a check will soon be in the mail. Faced with that handsome sum, I've begun to consider my investing options and to wonder what other people plan to do with their blog revenue.
Here is my list of options:
1) Take that check -- together with a $50 article reprint check from another source -- and put it into my savings account. Retirement is looking better.
If I save $100 a year, at a 6 percent rate of return, I'll have an additional $1,318 in 10 years. (Thanks to Hugh Chou for the calculations.)
2) Put the check towards the amount I plan to invest in a new web design.
3) Have Frugal Duchess pencils printed with my blog address and pass the promo items out at a local mall. I'll use my foot traffic to drive site traffic.
4) Pay bills.
5) Apply the check to the purchase of a notebook computer, a move that will free up computer time for the rest of my family. (Since, I started blogging, computer time for the rest of the family has been a rare commodity.)
Here is my list of options:
1) Take that check -- together with a $50 article reprint check from another source -- and put it into my savings account. Retirement is looking better.
If I save $100 a year, at a 6 percent rate of return, I'll have an additional $1,318 in 10 years. (Thanks to Hugh Chou for the calculations.)
2) Put the check towards the amount I plan to invest in a new web design.
3) Have Frugal Duchess pencils printed with my blog address and pass the promo items out at a local mall. I'll use my foot traffic to drive site traffic.
4) Pay bills.
5) Apply the check to the purchase of a notebook computer, a move that will free up computer time for the rest of my family. (Since, I started blogging, computer time for the rest of the family has been a rare commodity.)
Tuesday Tips: 2000 Uses for WD-40
When our sliding glass door gets stuck, my husband sprays the track with WD-40, a great lubricant. But there are 2,000 money-saving uses for WD-40, including cleaning piano keys, removing crayon from walls, lifting off baked-on cookie batter from baking tins and unsticking old tape.
A List of 2000 Uses is posted on the official WD-40 website.
The company compiled the list based on tips from consumers. These are not company-tested suggestions but ideas from mom-and-pop users. The full list is a downloadable Acrobat file of 9 pages.
Here is a partial listing:
“HOME/GARDEN
• Use to loosen rusty nuts and screws, clean garden tools
• Cleans piano keys
• Keeps wicker chairs from squeaking
• Lubricates small rolling toys
• Keeps garden tools rust-free
• Cleans patio door glide strip
• Removes crayon from clothes dryer (make sure to unplug dryer first)
• Removes scuff marks from ceramic tile floor
• Keeps metal wind chimes rust-free
• Removes crayon from walls
• Helps join plastic shelving to make disassembly easier
• Removes water spots from mirrors
• Lubricates hinge on pruning shears
• Lubricates screws on lawn furniture
• Lubricates hydraulic rams on slideout of 5th wheel
• Cleans fiberglass bathtubs
• Cleans and prevents rust on oil tank exterior
• Cleans and protects bed of wheelbarrows
• Prevents rust on swamp cooler nuts
• Removes tea stains from countertops
• Removes crayon from wallpaper
• Lubricates gate locks
• Removes crayon from carpet
• Removes crayon from compressed wood furniture
• Loosens rusty parts on lawnmower
• Lubricates sticky drawers
• Removes tape marks from the wall where posters hung
• Shines leaves of artificial houseplants
• Keeps snow from sticking to shovel
• Removes coffee stains on floor tiles
• Keeps hose ends from corroding
• Lubricates moving parts on playground equipment
• Removes crayon from plastic
• Removes decals from bathtubs
• Removes old cellophane tape
• Removes crayon from shoes
• Cleans ashtrays
• Removes crayon from toys
• Cleans and protects underside of cast iron skillets
• Removes ink from carpet
• Keeps garden plant cages bright and rust free
• Cleans lawnmower blades
• Cleans and protects antique kitchen tools
• Prevents mildew growth on fountain
• Removes marks from floors left by chair feet
• Removes crayon from chalk boards
• Eliminates static on volume and tuning control knobs
• Cleans candle soot
• Removes ink from blue jeans
• Cleans residue on luggage handles
• Cleans old muffin tins
• Cleans and protects pruning shears
• Cleans gold-plated faucets
• Removes petroleum stains from clothing
• Keeps sewing needles from rusting
• Removes Kool-Aid stains from carpet and fabric
• Removes gunk from plastic dish-drainer
• Lubricates kitchen sink handheld spray nozzle
• Removes rust from curtain rods
• Removes adhesive from precious china
• Cleans bottoms of pots and pans
• Helps prevent rust on hide-a-key containers
• Cleans vinyl garage doors
• Cleans doggie doo from tennis shoes
• Removes gunk when replacing old faucets
• Cleans and protects medicine door latches
• Protects wrought iron from rust
• Removes tomato stains from clothes
• Prevents rust from forming on washing machines
• Keeps metal wire screens rust free
• Removes blue baked-on acrylic cover shields from acrylic windows
• Preventative maintenance on cooking burner
• Removes coffee stains from leather
• Protects electric pump on furnace
• Removes ink stains from leather
• Prevents corrosion on copper parts of fountain
• Lubricates folding parts of ironing board
• Removes rust from chair feet
• Cleans and polishes gold and brass lamps
• Removes adhesive price tag from shoe bottoms
• Keeps trigger on glue gun from sticking
• Cleans bed frame
• Protects shower heads from rust
• Protects silver from blackening
• Lubricates external pivots on lawnmowers
• Keeps blades from rusting on garden plow
• Cleans black streaks from hardwood floors
• Protects inner machinery in toilet against corrosion
• Removes paint from tile flooring
• Protects hand trowels from corrosion
• Cleans and protects pitchforks
• Lubricates screen channels upon installation of rubber bead
• Removes rust stains from bathroom tubs
• Cleans metal figurines
• Shines shower doors
• Protects patio door from sun damage
• Cleans mildew from refrigerator gasket
• Helps clean rust from wire shelves
• Cleans newspaper ink from tables
• Removes rust stains from floor after mopping
• Cleans and protects TV antenna
• Removes gum from wallpaper
• Penetrates and frees stuck toilet shutoff valve
• Spray on rototiller blades to prevent rust during off-season
• Cleans melted vacuum belt from carpeting
• Removes crayon from television screen
• Lubricates zippers on lawn mower grass catcher bags
• Cleans gunk from chain saws
• Prevents rust on metal patio chairs
• Removes crayon marks from glass
• Camouflages scratches in cultured marble
• Removes berry stains from patio furniture
• Removes gum stuck to concrete
• Cleans heavy dirt from shovels
• Cleans rust from metal exterior of speakers
• Coat outside pipes during winter to help prevent freezing damage or
pipe bursts
• Removes glue deposits from linoleum
• Lubricates hinges on antique smoking stand
• Removes masking tape residue from linoleum
• Cleans gunk built up on doorknobs
• Removes stickers from credit cards
• Cleans smoke stains
• Removes lipstick from carpet
• Lubricates metal latches on chain link fences
• Removes melted scotch tape from dining room table
• Removes stains from coffee cups
• Removes crayon from screen doors
• Removes crayon from plastic tables
• Removes oil stains from nylon
• Spray on hula hoe swivels to clean & prevent corrosion
• Lubricates air holes before inserting hand air pump nozzle onto tires
• Keeps lawnmower wheels turning smoothly
• Keeps plant supports from rusting
• Removes gum from linoleum floor
• Removes strawberry stains from countertops
• Removes tar from shovels
• Keeps plant hangers from rusting
• Removes mascara from tile floors
• Erases marks caused by chair backs on running boards of wall
• Spray on silverware during unused periods to prevent tarnishing
• Clean black marks from shoes off the floor
• Removes labels from medicine bottles
• Removes wax from shoes
• Cleans chair wheels
• Cleans window sills
• Protects snow shovels from the effects of salt
• Cleans and protects washer lid
• Prevents corrosion on outdoor light fixtures
• Removes felt pen marks from floor
• Loosens valve stems on lawnmower tires
• Removes gum from aluminum siding
• Removes wax from vinyl surfaces
• Lubricates mixer gears
• Removes rollerblade marks from kitchen floor
• Adds moisture to and preserves ivory and bone items
• Keeps lawn mower carburetors free of gunk
• Removes Velcro stickers
• Polishes away scratches on countertops
• Lubricates vacuum cleaner roller brush
• Cleans gunk from base of toilet bowl
• Lubricates runners on porch glider
• Cleans roofing tar off circular saw blades
• Protects exposed metal parts on snow blowers
• Removes sticker residue from clothes
• Removes gum from flagpoles
• Keeps clay from sticking to shovels
• Prevents rake from rusting
• Removes laundry detergent stain from washer
• Polishes splash guards
• Cleans crayon off of rock walls
• Lubricates ball valve handle on sprinkler system
• Lubricates return springs on riding lawnmowers
• Keeps kitty-doo from sticking to electric cat-box rakes
• Removes dried toothpaste stains
• Removes silly putty from furniture
• Cleans lime stains from toilet bowls
• Spray on bottom 6 inches of wooden patio table to prevent mildew build up
• Removes glue from refrigerator
• Helps clean showers
• Cleans build up on hedge trimmers
• Lubricates gardening shears
• Cleans dog hair from sliding door rollers
• Removes marks-a-lot ink from most items
• Removes rust from cookie tins
• Keeps flower pots from sticking together when stacked in storage
• Removes gum from dryer lint screen
• Cleans tar from rubber water hoses
• Removes scuff marks from lawn furniture
• Removes rust stains from tile floors
• Lubricates lever on razor scraper
• Removes lipstick from fabric
• Cleans and lubricates the rubber surrounds on stereo sub woofers
• Spray down drain throat to remove scum
• Removes crayon from place mats
• Removes stubborn body oils and shampoo residue from bath mats
• Spray around bottom of garbage cans to prevent animals from getting in
• Removes oxidation from aluminum window frames
• Polishes and protects brass candlesticks
• Cleans music racks
• Cleans peanut butter from shoestrings
• Cleans and protects blades of pruning shears
• Cleans wood planter bed
• Cleans scum from rubber gloves
• Polishes silver jewelry
• Lubricates freezer doors
• Removes grape juice stains
• Cleans marks on shelves made by coat hangers
• Shines aluminum sinks
• Shines wheelbarrow tires
• Cleans lock nuts around gate latches
• Camouflages scratches in linoleum
• Camouflages scratches in ceramic tile
• Keeps clay from sticking to hoes
• Keeps clay from sticking to rakes
• Prevents rust form forming on blender blades during storage
• Spray on trash can lids to keep messes from sticking
• Protects outside of cast iron brake drums on riding lawnmower
• Removes grime from grout on bathroom floor
• Cleans dust from artificial flowers
• Removes starch residue from sole plate on iron
• Cleans vacuum cleaner dials
• Removes fingerprints from bay windows
• Cleans sole plate on iron
• Helps remove flood water marks from cedar paneling
• Shines mother-of-pearl accessories
• Cleans oil burner parts
• Removes marking pen from glass objects
• Cleans outdoor electrical relay contacts
• Lubricates moving parts of vacuum motor
• Shines outdoor sculptures
• Helps remove caked-on dirt and grime from furniture rails
• Removes calcium deposits from dehumidifier
• Removes nail polish from hardwood floors
• Helps remove built up mineral deposits from freezer grid
• Removes caked-on food from bottom of cookie sheets”
Company disclaimer:
"The uses of WD-40 described on this website were provided to WD-40 Company by end-users of the product, and do
not constitute recommendations or suggestions for use of WD-40 by WD-40 Company. These uses have not been tested by WD-40 Company.
Consumers should exercise common sense whenever using WD-40. Always follow the instructions and take heed of any warnings printed on the WD-40 packaging."
A List of 2000 Uses is posted on the official WD-40 website.
The company compiled the list based on tips from consumers. These are not company-tested suggestions but ideas from mom-and-pop users. The full list is a downloadable Acrobat file of 9 pages.
Here is a partial listing:
“HOME/GARDEN
• Use to loosen rusty nuts and screws, clean garden tools
• Cleans piano keys
• Keeps wicker chairs from squeaking
• Lubricates small rolling toys
• Keeps garden tools rust-free
• Cleans patio door glide strip
• Removes crayon from clothes dryer (make sure to unplug dryer first)
• Removes scuff marks from ceramic tile floor
• Keeps metal wind chimes rust-free
• Removes crayon from walls
• Helps join plastic shelving to make disassembly easier
• Removes water spots from mirrors
• Lubricates hinge on pruning shears
• Lubricates screws on lawn furniture
• Lubricates hydraulic rams on slideout of 5th wheel
• Cleans fiberglass bathtubs
• Cleans and prevents rust on oil tank exterior
• Cleans and protects bed of wheelbarrows
• Prevents rust on swamp cooler nuts
• Removes tea stains from countertops
• Removes crayon from wallpaper
• Lubricates gate locks
• Removes crayon from carpet
• Removes crayon from compressed wood furniture
• Loosens rusty parts on lawnmower
• Lubricates sticky drawers
• Removes tape marks from the wall where posters hung
• Shines leaves of artificial houseplants
• Keeps snow from sticking to shovel
• Removes coffee stains on floor tiles
• Keeps hose ends from corroding
• Lubricates moving parts on playground equipment
• Removes crayon from plastic
• Removes decals from bathtubs
• Removes old cellophane tape
• Removes crayon from shoes
• Cleans ashtrays
• Removes crayon from toys
• Cleans and protects underside of cast iron skillets
• Removes ink from carpet
• Keeps garden plant cages bright and rust free
• Cleans lawnmower blades
• Cleans and protects antique kitchen tools
• Prevents mildew growth on fountain
• Removes marks from floors left by chair feet
• Removes crayon from chalk boards
• Eliminates static on volume and tuning control knobs
• Cleans candle soot
• Removes ink from blue jeans
• Cleans residue on luggage handles
• Cleans old muffin tins
• Cleans and protects pruning shears
• Cleans gold-plated faucets
• Removes petroleum stains from clothing
• Keeps sewing needles from rusting
• Removes Kool-Aid stains from carpet and fabric
• Removes gunk from plastic dish-drainer
• Lubricates kitchen sink handheld spray nozzle
• Removes rust from curtain rods
• Removes adhesive from precious china
• Cleans bottoms of pots and pans
• Helps prevent rust on hide-a-key containers
• Cleans vinyl garage doors
• Cleans doggie doo from tennis shoes
• Removes gunk when replacing old faucets
• Cleans and protects medicine door latches
• Protects wrought iron from rust
• Removes tomato stains from clothes
• Prevents rust from forming on washing machines
• Keeps metal wire screens rust free
• Removes blue baked-on acrylic cover shields from acrylic windows
• Preventative maintenance on cooking burner
• Removes coffee stains from leather
• Protects electric pump on furnace
• Removes ink stains from leather
• Prevents corrosion on copper parts of fountain
• Lubricates folding parts of ironing board
• Removes rust from chair feet
• Cleans and polishes gold and brass lamps
• Removes adhesive price tag from shoe bottoms
• Keeps trigger on glue gun from sticking
• Cleans bed frame
• Protects shower heads from rust
• Protects silver from blackening
• Lubricates external pivots on lawnmowers
• Keeps blades from rusting on garden plow
• Cleans black streaks from hardwood floors
• Protects inner machinery in toilet against corrosion
• Removes paint from tile flooring
• Protects hand trowels from corrosion
• Cleans and protects pitchforks
• Lubricates screen channels upon installation of rubber bead
• Removes rust stains from bathroom tubs
• Cleans metal figurines
• Shines shower doors
• Protects patio door from sun damage
• Cleans mildew from refrigerator gasket
• Helps clean rust from wire shelves
• Cleans newspaper ink from tables
• Removes rust stains from floor after mopping
• Cleans and protects TV antenna
• Removes gum from wallpaper
• Penetrates and frees stuck toilet shutoff valve
• Spray on rototiller blades to prevent rust during off-season
• Cleans melted vacuum belt from carpeting
• Removes crayon from television screen
• Lubricates zippers on lawn mower grass catcher bags
• Cleans gunk from chain saws
• Prevents rust on metal patio chairs
• Removes crayon marks from glass
• Camouflages scratches in cultured marble
• Removes berry stains from patio furniture
• Removes gum stuck to concrete
• Cleans heavy dirt from shovels
• Cleans rust from metal exterior of speakers
• Coat outside pipes during winter to help prevent freezing damage or
pipe bursts
• Removes glue deposits from linoleum
• Lubricates hinges on antique smoking stand
• Removes masking tape residue from linoleum
• Cleans gunk built up on doorknobs
• Removes stickers from credit cards
• Cleans smoke stains
• Removes lipstick from carpet
• Lubricates metal latches on chain link fences
• Removes melted scotch tape from dining room table
• Removes stains from coffee cups
• Removes crayon from screen doors
• Removes crayon from plastic tables
• Removes oil stains from nylon
• Spray on hula hoe swivels to clean & prevent corrosion
• Lubricates air holes before inserting hand air pump nozzle onto tires
• Keeps lawnmower wheels turning smoothly
• Keeps plant supports from rusting
• Removes gum from linoleum floor
• Removes strawberry stains from countertops
• Removes tar from shovels
• Keeps plant hangers from rusting
• Removes mascara from tile floors
• Erases marks caused by chair backs on running boards of wall
• Spray on silverware during unused periods to prevent tarnishing
• Clean black marks from shoes off the floor
• Removes labels from medicine bottles
• Removes wax from shoes
• Cleans chair wheels
• Cleans window sills
• Protects snow shovels from the effects of salt
• Cleans and protects washer lid
• Prevents corrosion on outdoor light fixtures
• Removes felt pen marks from floor
• Loosens valve stems on lawnmower tires
• Removes gum from aluminum siding
• Removes wax from vinyl surfaces
• Lubricates mixer gears
• Removes rollerblade marks from kitchen floor
• Adds moisture to and preserves ivory and bone items
• Keeps lawn mower carburetors free of gunk
• Removes Velcro stickers
• Polishes away scratches on countertops
• Lubricates vacuum cleaner roller brush
• Cleans gunk from base of toilet bowl
• Lubricates runners on porch glider
• Cleans roofing tar off circular saw blades
• Protects exposed metal parts on snow blowers
• Removes sticker residue from clothes
• Removes gum from flagpoles
• Keeps clay from sticking to shovels
• Prevents rake from rusting
• Removes laundry detergent stain from washer
• Polishes splash guards
• Cleans crayon off of rock walls
• Lubricates ball valve handle on sprinkler system
• Lubricates return springs on riding lawnmowers
• Keeps kitty-doo from sticking to electric cat-box rakes
• Removes dried toothpaste stains
• Removes silly putty from furniture
• Cleans lime stains from toilet bowls
• Spray on bottom 6 inches of wooden patio table to prevent mildew build up
• Removes glue from refrigerator
• Helps clean showers
• Cleans build up on hedge trimmers
• Lubricates gardening shears
• Cleans dog hair from sliding door rollers
• Removes marks-a-lot ink from most items
• Removes rust from cookie tins
• Keeps flower pots from sticking together when stacked in storage
• Removes gum from dryer lint screen
• Cleans tar from rubber water hoses
• Removes scuff marks from lawn furniture
• Removes rust stains from tile floors
• Lubricates lever on razor scraper
• Removes lipstick from fabric
• Cleans and lubricates the rubber surrounds on stereo sub woofers
• Spray down drain throat to remove scum
• Removes crayon from place mats
• Removes stubborn body oils and shampoo residue from bath mats
• Spray around bottom of garbage cans to prevent animals from getting in
• Removes oxidation from aluminum window frames
• Polishes and protects brass candlesticks
• Cleans music racks
• Cleans peanut butter from shoestrings
• Cleans and protects blades of pruning shears
• Cleans wood planter bed
• Cleans scum from rubber gloves
• Polishes silver jewelry
• Lubricates freezer doors
• Removes grape juice stains
• Cleans marks on shelves made by coat hangers
• Shines aluminum sinks
• Shines wheelbarrow tires
• Cleans lock nuts around gate latches
• Camouflages scratches in linoleum
• Camouflages scratches in ceramic tile
• Keeps clay from sticking to hoes
• Keeps clay from sticking to rakes
• Prevents rust form forming on blender blades during storage
• Spray on trash can lids to keep messes from sticking
• Protects outside of cast iron brake drums on riding lawnmower
• Removes grime from grout on bathroom floor
• Cleans dust from artificial flowers
• Removes starch residue from sole plate on iron
• Cleans vacuum cleaner dials
• Removes fingerprints from bay windows
• Cleans sole plate on iron
• Helps remove flood water marks from cedar paneling
• Shines mother-of-pearl accessories
• Cleans oil burner parts
• Removes marking pen from glass objects
• Cleans outdoor electrical relay contacts
• Lubricates moving parts of vacuum motor
• Shines outdoor sculptures
• Helps remove caked-on dirt and grime from furniture rails
• Removes calcium deposits from dehumidifier
• Removes nail polish from hardwood floors
• Helps remove built up mineral deposits from freezer grid
• Removes caked-on food from bottom of cookie sheets”
Company disclaimer:
"The uses of WD-40 described on this website were provided to WD-40 Company by end-users of the product, and do
not constitute recommendations or suggestions for use of WD-40 by WD-40 Company. These uses have not been tested by WD-40 Company.
Consumers should exercise common sense whenever using WD-40. Always follow the instructions and take heed of any warnings printed on the WD-40 packaging."
Monday, September 18, 2006
Cheapest Cars to Insurse
We recently shaved $1,000 a year from our auto insurance bill by switching from a well-known auto insurer to Geico. On the subject of auto insurance, MSN Money has recently published a list of the cheapest and most expensive cars to insure.
There are 10 cars on each list.
Some of the most expensive models to insure include:
Mitsubishi Lancer Evolution,
Mercedes CL-Class
Dodge SRT-4.
The cheapest:
Volvo XC90,
Chevrolet Malibu Maxx
GMC Safari.
By the way, I recently interviewed an insurance agent, who stressed the importance of comparing auto rates. He estimates that consumers could save a couple hundered dollars per quarterly period by rate shopping. He deals with nearly every insurer in the business and has spotted big differences in rates for comparable cars in the same region.
There are 10 cars on each list.
Some of the most expensive models to insure include:
Mitsubishi Lancer Evolution,
Mercedes CL-Class
Dodge SRT-4.
The cheapest:
Volvo XC90,
Chevrolet Malibu Maxx
GMC Safari.
By the way, I recently interviewed an insurance agent, who stressed the importance of comparing auto rates. He estimates that consumers could save a couple hundered dollars per quarterly period by rate shopping. He deals with nearly every insurer in the business and has spotted big differences in rates for comparable cars in the same region.
Another Wet Gimmick: Oxygenated Water
Oxygenated Water -- the newest fad in sports drink -- is being pitched to athletes and exercise junkies. But maybe you'd do better to spend your workout dollars on new sneakers and just drink plain water, according to a European report that is featured in the September 2006 issue of Good Housekeeping
The Pitch: Guzzle down oxygenated water before your workout and your exericise regime will be easier.
The Trendy Labels: Oxygenated water labels such as: Life O2, Athletic Super Water and Aqua Rush, are a few of the brands mentioned by GH.
The Truth: "A recent European study showed that oxygenated drinks had no effect on the amount of exercise that subjects could do," the GH article stated.
GH Nutrition expert: "It's not that you don't need fluids when you work out, but regular water will do the trick." -- Delia A. Hammock, GH Nutrition Director
The Pitch: Guzzle down oxygenated water before your workout and your exericise regime will be easier.
The Trendy Labels: Oxygenated water labels such as: Life O2, Athletic Super Water and Aqua Rush, are a few of the brands mentioned by GH.
The Truth: "A recent European study showed that oxygenated drinks had no effect on the amount of exercise that subjects could do," the GH article stated.
GH Nutrition expert: "It's not that you don't need fluids when you work out, but regular water will do the trick." -- Delia A. Hammock, GH Nutrition Director
Sunday, September 17, 2006
Spa Wrap: My Favorite Post-its
From Birthday Greetings to Napoleon Hill Gospel truths, there were a lot of good financial posts out there. Here is my roundup of some of my favorite posts from other blogs.
At Frugal for Life, Dawn offers a thoughtful birthday greeting to her mom. It’s really the thought that counts. Happy Birthday to Dawn’s Mom! You have a wonderful, savvy daughter. She's also very kind.
On the employment front, Molly’s Brother does far more than whine about his recent loss of job. He offers a helpful roadmap to others for dealing with financial uncertainty.
Napoleon Hill, author of Think Rich, Grow Rich, lives on through Fearless Money, who provides up-Hill encouragement to those of us who are worried about financial success and plan to work way past our silver hair years.
Self Discipline & better personal finance management. That’s the link explored at Money Matter and More Musings.
Hey shoppers. My Money Blog provides an excellent buyers guide for finding the best seasonal sales. Timing is everything.
At Frugal for Life, Dawn offers a thoughtful birthday greeting to her mom. It’s really the thought that counts. Happy Birthday to Dawn’s Mom! You have a wonderful, savvy daughter. She's also very kind.
On the employment front, Molly’s Brother does far more than whine about his recent loss of job. He offers a helpful roadmap to others for dealing with financial uncertainty.
Napoleon Hill, author of Think Rich, Grow Rich, lives on through Fearless Money, who provides up-Hill encouragement to those of us who are worried about financial success and plan to work way past our silver hair years.
Self Discipline & better personal finance management. That’s the link explored at Money Matter and More Musings.
Hey shoppers. My Money Blog provides an excellent buyers guide for finding the best seasonal sales. Timing is everything.
Maria Sharapova: Her Financial Racket
Maria Sharapova joins the Money Isn't Everything Club.
She’s 19 and worth millions, but according to a tennis profile in the Miami Herald, Maria Sharapova, (Russian tennis superstar/supermodel) is just a “normal” teen, albeit a teen with $7 million from professional tennis matches and another $19 million in endorsement deals.
"But no matter how much money I have, no matter what cool car or house I have, I'm still Maria, a normal girl who likes to laugh with friends,” Sharapova said in the Herald piece.
Her portfolio includes:
• The Entourage: 13 handlers
• The Dress: black designer tennis dress
• The House: Southern California
waterfront home
• The Car: Range Rover
• The Celeb buddies: Recently met Usher at an awards ceremony and Justin Timberlake on The David Letterman Show.
• The Shock:
''It's crazy,'' said Sharapova in the Herald profile. ``Three years ago, when I went to L.A., I stayed at the Summer Suites and now I have this beautiful glass house. Every time I walk into it, I can't believe I own it. Sometimes I drive around the driveway instead of going right to the garage just so I can look at the front of the house. Every time I'm driving my car, I can't believe it's mine. Honestly, I'm in shock.''
She’s 19 and worth millions, but according to a tennis profile in the Miami Herald, Maria Sharapova, (Russian tennis superstar/supermodel) is just a “normal” teen, albeit a teen with $7 million from professional tennis matches and another $19 million in endorsement deals.
"But no matter how much money I have, no matter what cool car or house I have, I'm still Maria, a normal girl who likes to laugh with friends,” Sharapova said in the Herald piece.
Her portfolio includes:
• The Entourage: 13 handlers
• The Dress: black designer tennis dress
• The House: Southern California
waterfront home
• The Car: Range Rover
• The Celeb buddies: Recently met Usher at an awards ceremony and Justin Timberlake on The David Letterman Show.
• The Shock:
''It's crazy,'' said Sharapova in the Herald profile. ``Three years ago, when I went to L.A., I stayed at the Summer Suites and now I have this beautiful glass house. Every time I walk into it, I can't believe I own it. Sometimes I drive around the driveway instead of going right to the garage just so I can look at the front of the house. Every time I'm driving my car, I can't believe it's mine. Honestly, I'm in shock.''
Word Economist: Headlines & Clicks 101
I’ve noticed that the most popular posts often (but not always) have great you-must-click-here headlines. These titles are either funny, very informative, sexy, taunting or puzzling.
But they share a bottom line: Like a frugal mom on a tight budget, the best headlines are economical, but productive with lots of hits and clicks. Headlines, like haiku, represent an economical use of words.
Of course, there are a few long, long headlines that pull in readers because they are so intriguing. But for the most part, a few well-chosen words work well.
Hit-Making Headlines Features
1. Headlines that promise a quick read of tips are usually popular: 5 Tips for (fill-in the blank)
2. Sex sells
3. Humor
4. Controversy
5. Narrative headlines
6. Clean straightforward headlines in which the topic is clearly, quickly and cleanly stated.
7. Intriguing Headlines.
8. Celebrity name dropping
9. Flavor of the month topics. For example, headlines that mention retirement, housing bubble, marriage or relationships often pull in curious readers.
10. Great topic, great reporting/writing with a headline that reflects the efforts.
Here are some of the most popular posts on PFBlogs today, with a few oldies thrown in.
Boston Gal: Why Pay for It When you Can Get It for Free
All Things Financial Oprah's Great American Debt Diet
City Girl:Fortunes Fools: Why The Rich Go Broke
Divorce2Freedom:3:13 am and phone rings
Single Ma; Surprise Money Surprise Money
Penny Foolish Things That I am willing to Pay for
Five Cent Nickel The Hidden Costs of Home ownership
and from me:
Smart Talk from American Idol Star
Pension Envy & Borrowed Time
But they share a bottom line: Like a frugal mom on a tight budget, the best headlines are economical, but productive with lots of hits and clicks. Headlines, like haiku, represent an economical use of words.
Of course, there are a few long, long headlines that pull in readers because they are so intriguing. But for the most part, a few well-chosen words work well.
Hit-Making Headlines Features
1. Headlines that promise a quick read of tips are usually popular: 5 Tips for (fill-in the blank)
2. Sex sells
3. Humor
4. Controversy
5. Narrative headlines
6. Clean straightforward headlines in which the topic is clearly, quickly and cleanly stated.
7. Intriguing Headlines.
8. Celebrity name dropping
9. Flavor of the month topics. For example, headlines that mention retirement, housing bubble, marriage or relationships often pull in curious readers.
10. Great topic, great reporting/writing with a headline that reflects the efforts.
Here are some of the most popular posts on PFBlogs today, with a few oldies thrown in.
Boston Gal: Why Pay for It When you Can Get It for Free
All Things Financial Oprah's Great American Debt Diet
City Girl:Fortunes Fools: Why The Rich Go Broke
Divorce2Freedom:3:13 am and phone rings
Single Ma; Surprise Money Surprise Money
Penny Foolish Things That I am willing to Pay for
Five Cent Nickel The Hidden Costs of Home ownership
and from me:
Smart Talk from American Idol Star
Pension Envy & Borrowed Time
Saturday, September 16, 2006
Consumer Reports: 6 Tips for Scoring Discounts
We can create our own discounts with a simple question. That's the strategy behind a new shopping guide called ShopSmart;) from Consumer Reports.
The Fall 2006 issue includes a feature called:
"6 Questions to Ask When You're Cruising for A Discount."
(I've paraphrased the recommended questions)
1. Do you know if this item will be discounted soon?
2. Can you meet or beat this deal? (Flash an ad from a competitor or a printout from an online retailer)
3. Is it cheaper by the dozen? (Seeking a "volume discount.")
4. Are there any freebies or extra perks with this purchase?
5. Is this coupon okay? Some retailers will take expired coupons or even promotions from other stores.
6. Is there a cash payment discount? Cash is king. Contractors, service providers and even some small stores will give you a discount for the greenbacks.
The Fall 2006 issue includes a feature called:
"6 Questions to Ask When You're Cruising for A Discount."
(I've paraphrased the recommended questions)
1. Do you know if this item will be discounted soon?
2. Can you meet or beat this deal? (Flash an ad from a competitor or a printout from an online retailer)
3. Is it cheaper by the dozen? (Seeking a "volume discount.")
4. Are there any freebies or extra perks with this purchase?
5. Is this coupon okay? Some retailers will take expired coupons or even promotions from other stores.
6. Is there a cash payment discount? Cash is king. Contractors, service providers and even some small stores will give you a discount for the greenbacks.
Friday, September 15, 2006
Wall St. Journal: Frugal Wine Report
Fine wines at frugal prices are the subject of today’s Wall Street Journal and “The Dow Jones Inexpensive Australian Cabernet Index.”
Based on a blind taste test of Australian Cabernets priced under $20 the WSJ had these comments.
“Best Value”
Yalumba Winery 2004 “The Y Series’
$10.99
WSJ comment: “Intense Dark Fruit with some herbs and good acidity. A wine of some conviction.”
Best Taste:
Ringbolt 2003
$16.99
“Interesting with true grape tastes…Could stand up to a good steak….Real character.
Also Mentioned: Other Good Values/Good Taste
Marquis Philips 2003 $15: “Some spice. Nice with food.”
McWilliam’s Hanwood Estate 2004 $9.99 “Grapey and pleasant with a splash of lemon.”
Wolf Blass Wines: “Yellow Label 2004 $9.99 “Pleasant and easy…Happy Wine.”
Based on a blind taste test of Australian Cabernets priced under $20 the WSJ had these comments.
“Best Value”
Yalumba Winery 2004 “The Y Series’
$10.99
WSJ comment: “Intense Dark Fruit with some herbs and good acidity. A wine of some conviction.”
Best Taste:
Ringbolt 2003
$16.99
“Interesting with true grape tastes…Could stand up to a good steak….Real character.
Also Mentioned: Other Good Values/Good Taste
Marquis Philips 2003 $15: “Some spice. Nice with food.”
McWilliam’s Hanwood Estate 2004 $9.99 “Grapey and pleasant with a splash of lemon.”
Wolf Blass Wines: “Yellow Label 2004 $9.99 “Pleasant and easy…Happy Wine.”
Fri. Spotlight: Penny Foolish & The Cost of Living
What's the cost of the life we're supposed to be living? That's the question
Kira of Penny Foolish raises as she checks in this week as the Friday Spotlight guest columnist at the Frugal Weekend Spa.
With a crisp, but engaging style Penny Foolish writes a great blog about personal finance and frugal living. Her first-person essays track her thoughts about taking a tax course at H&R Block and her search for a new job. There's a wealth of information on Penny Foolish.
____________________
The Cost of the Life You're Supposed to be Living
by Kira of Penny Foolish
When I had just turned sixteen, my father took me into the DMV to take
the permit test, so I could begin learning to drive. Several of the
boys at the DMV were all pretty excited because Kordell Stewart, at
the time playing for the Steelers, was also there waiting, so they
were all chatting about football.
I wish that were the only memorable thing that happened that day. But unfortunately, I also flunked the permit test. I would not actually get my driver's license until six months ago at the ripe old age of 22.
It's truly ridiculous the number of people who have been completely
shocked by the fact that I didn't have a driver's license - but people
were mostly shocked that I never owned a car. "You don't have a car?" seemed to be a question on par with "You were born with a tail?"
People just don't know how to respond to somebody who hasn't completed
this seemingly basic ritual of adulthood. Having a car, even at
sixteen, has become the new standard in America - and if you don't get
one, there must be something wrong with your life.
But the truth is that I never really needed to drive. I couldn't have
afforded a car in high school or college, and I had close friends who
drove. Now, if having my own car was a necessity for me as much as it
is for a lot of other people, I wouldn't be in particularly good
financial shape, between the insurance, the repairs, and all the other
costs of an older car. My parents would also have had to shell out
thousands of dollars in insurance premiums between 16 and 21 (when I
graduated college), and might still be paying it now.
Hedonic Treadmill
Much has been written about the cost of the "hedonic treadmill" - that
you become accustomed to greater and greater luxuries at greater and
greater costs, never being satisfied with only what you need. Those of
us trying to live a more frugal lifestyle are always fighting this
compulsion - the mantra of the frugal seems to be, "Do I really need
this?" There are many areas of our lives that could be examined in the
same way, because the rapidly rising standard of living in our country
has made many things "standard" that people got along without years
ago.
Such as, kids of sixteen having their own car. Or having a car at
college. Or having all-new clothes, household items, or furniture.
Engagement rings must cost two months' salary. Leasing cars is cheap
and easy. Interest-only payments are affordable. Restaurant meals are
for when you don't feel like cooking. You deserve a cruise every year.
Installing fancy appliances is an investment. You know where this
leads.
Living the expensive life that has become the new standard leaves you
poor and feeling unfulfilled, because when you try to keep up with
some expectations you will always fall behind in others. I think that
we are doing others a service, to alter their notions of what you
"should" be doing, by taking the bus. By using coupons and cooking at
home. By living a life that is within our financial bounds and lives
by its own rules - not the life we're supposed to be out buying.
Kira of Penny Foolish raises as she checks in this week as the Friday Spotlight guest columnist at the Frugal Weekend Spa.
With a crisp, but engaging style Penny Foolish writes a great blog about personal finance and frugal living. Her first-person essays track her thoughts about taking a tax course at H&R Block and her search for a new job. There's a wealth of information on Penny Foolish.
____________________
The Cost of the Life You're Supposed to be Living
by Kira of Penny Foolish
When I had just turned sixteen, my father took me into the DMV to take
the permit test, so I could begin learning to drive. Several of the
boys at the DMV were all pretty excited because Kordell Stewart, at
the time playing for the Steelers, was also there waiting, so they
were all chatting about football.
I wish that were the only memorable thing that happened that day. But unfortunately, I also flunked the permit test. I would not actually get my driver's license until six months ago at the ripe old age of 22.
It's truly ridiculous the number of people who have been completely
shocked by the fact that I didn't have a driver's license - but people
were mostly shocked that I never owned a car. "You don't have a car?" seemed to be a question on par with "You were born with a tail?"
People just don't know how to respond to somebody who hasn't completed
this seemingly basic ritual of adulthood. Having a car, even at
sixteen, has become the new standard in America - and if you don't get
one, there must be something wrong with your life.
But the truth is that I never really needed to drive. I couldn't have
afforded a car in high school or college, and I had close friends who
drove. Now, if having my own car was a necessity for me as much as it
is for a lot of other people, I wouldn't be in particularly good
financial shape, between the insurance, the repairs, and all the other
costs of an older car. My parents would also have had to shell out
thousands of dollars in insurance premiums between 16 and 21 (when I
graduated college), and might still be paying it now.
Hedonic Treadmill
Much has been written about the cost of the "hedonic treadmill" - that
you become accustomed to greater and greater luxuries at greater and
greater costs, never being satisfied with only what you need. Those of
us trying to live a more frugal lifestyle are always fighting this
compulsion - the mantra of the frugal seems to be, "Do I really need
this?" There are many areas of our lives that could be examined in the
same way, because the rapidly rising standard of living in our country
has made many things "standard" that people got along without years
ago.
Such as, kids of sixteen having their own car. Or having a car at
college. Or having all-new clothes, household items, or furniture.
Engagement rings must cost two months' salary. Leasing cars is cheap
and easy. Interest-only payments are affordable. Restaurant meals are
for when you don't feel like cooking. You deserve a cruise every year.
Installing fancy appliances is an investment. You know where this
leads.
Living the expensive life that has become the new standard leaves you
poor and feeling unfulfilled, because when you try to keep up with
some expectations you will always fall behind in others. I think that
we are doing others a service, to alter their notions of what you
"should" be doing, by taking the bus. By using coupons and cooking at
home. By living a life that is within our financial bounds and lives
by its own rules - not the life we're supposed to be out buying.
Thursday, September 14, 2006
Slackers & Catch-up Retirement Savings Strategies
Work part-time or hold a garage sale? Those are a few of the suggestions from this retirement catchup game article from MSN.
I can relate. I'll be holding garage sales, selling stuff on eBay, working part-time and blogging about it to finance my retirement dreams.
I can relate. I'll be holding garage sales, selling stuff on eBay, working part-time and blogging about it to finance my retirement dreams.
Love & Fiscal Fallout: Divorce Prevention Checklist
Couples: Keep two accounts. That's one of six divorce prevetion tips from a national accounting group. With 2.5 million people filing for the divorce each year in the U.S., roughly 57 percent of the splits are prompted by financial arguments, according to a national CPA trade group.
To help prevent fiscal fallout in marriage, the AICPA National CPA Financial Literacy Commission has put together a financial marriage check list, designed for engaged couples and helpful for already-married pairs. The group's website features a menu of milestone events. Click on the couples and marriage tab for additional info.
Here is the check list from the CPA organization:
***
1. "Be honest
Go ahead, show your financial warts! And start with your credit report. Everyone has baggage when it comes to their finances. It could be that pesky old credit card debt or your student loans.
After all, these problems will be a burden shared by both of you. While you’re at it, share information on your spending habits and any other financial commitments you may have made to others in the past.
2. Keep at least two accounts
It may be a good idea to have a pot of money shared between the two of you to be used for paying the household bills. And each spouse should be able to take over the joint account. This way, one person isn't stuck paying the bills all the time. And of course, you may want to keep some discretionary cash on the side.
This way you'll both share responsibility for the daily expenses, while also keeping a budget for things you enjoy. At the end of the day we could all use a bit of autonomy.
3. Beware of joint filing risks
Of course there are a lot of benefits to filing jointly - tax breaks for one. But if you have concerns about your spouse's credit history, you may want to take some precautions. Once you file jointly, you're just as liable.
For example, if your partner is called upon to increase alimony payments or child support and is dragged into court, your own tax return will be scrutinized. If your husband or wife underreports income, you'll be jointly liable and that means all the penalty and taxes will fall on your shoulders.
You can get relief from joint liability if you apply for innocent spouse status to the IRS, but it can be very hard to prove according to Consumer Reports. In fact, the IRS grants less than 3 in 10 requests for innocent spouse.
4. List your assets
If you've been married for a while, it's natural to forget who owns what. But it's always a good idea to list what you have and then determine how you want it to be distributed after your death.
Unless it's specifically stated in a will or a living trust, your assets might all go to your spouse. If you're in a second marriage, you want to pay specific attention to this. If you want to leave your property to your kids from the first marriage, it's something that needs to be spelled out since your assets may automatically go to your spouse.
5. Be 401(k) savvy
Your 401(k) plans are yours. But make sure you know the strengths and weaknesses of each of your retirement plans so you can balance out each others investments.
Plans may have different matching contributions, and investment options.
It's likely that one partner is more conservative and the other is more aggressive, but the takeaway is that the whole retirement pot is allocated properly.
6. Do additional research
Check out the AICPA’s free Web site on personal finance topics to help your family better manage their finances such as strategies couples should consider. This free Web site can be accessed at: www.360financialliteracy.org"
***
There are other sources out there as well. For example, Sally of Through a Glass Darkly has written some insightful posts about love, couples and money, with helpful links on the subject.
To help prevent fiscal fallout in marriage, the AICPA National CPA Financial Literacy Commission has put together a financial marriage check list, designed for engaged couples and helpful for already-married pairs. The group's website features a menu of milestone events. Click on the couples and marriage tab for additional info.
Here is the check list from the CPA organization:
***
1. "Be honest
Go ahead, show your financial warts! And start with your credit report. Everyone has baggage when it comes to their finances. It could be that pesky old credit card debt or your student loans.
After all, these problems will be a burden shared by both of you. While you’re at it, share information on your spending habits and any other financial commitments you may have made to others in the past.
2. Keep at least two accounts
It may be a good idea to have a pot of money shared between the two of you to be used for paying the household bills. And each spouse should be able to take over the joint account. This way, one person isn't stuck paying the bills all the time. And of course, you may want to keep some discretionary cash on the side.
This way you'll both share responsibility for the daily expenses, while also keeping a budget for things you enjoy. At the end of the day we could all use a bit of autonomy.
3. Beware of joint filing risks
Of course there are a lot of benefits to filing jointly - tax breaks for one. But if you have concerns about your spouse's credit history, you may want to take some precautions. Once you file jointly, you're just as liable.
For example, if your partner is called upon to increase alimony payments or child support and is dragged into court, your own tax return will be scrutinized. If your husband or wife underreports income, you'll be jointly liable and that means all the penalty and taxes will fall on your shoulders.
You can get relief from joint liability if you apply for innocent spouse status to the IRS, but it can be very hard to prove according to Consumer Reports. In fact, the IRS grants less than 3 in 10 requests for innocent spouse.
4. List your assets
If you've been married for a while, it's natural to forget who owns what. But it's always a good idea to list what you have and then determine how you want it to be distributed after your death.
Unless it's specifically stated in a will or a living trust, your assets might all go to your spouse. If you're in a second marriage, you want to pay specific attention to this. If you want to leave your property to your kids from the first marriage, it's something that needs to be spelled out since your assets may automatically go to your spouse.
5. Be 401(k) savvy
Your 401(k) plans are yours. But make sure you know the strengths and weaknesses of each of your retirement plans so you can balance out each others investments.
Plans may have different matching contributions, and investment options.
It's likely that one partner is more conservative and the other is more aggressive, but the takeaway is that the whole retirement pot is allocated properly.
6. Do additional research
Check out the AICPA’s free Web site on personal finance topics to help your family better manage their finances such as strategies couples should consider. This free Web site can be accessed at: www.360financialliteracy.org"
***
There are other sources out there as well. For example, Sally of Through a Glass Darkly has written some insightful posts about love, couples and money, with helpful links on the subject.
Wednesday, September 13, 2006
Meredith Vieira: A Frugal View of Today?
Meredith Vieira — Katie Couric’s Today show replacement - seems pretty frugal, based on a profile in Good Housekeeping. Here are pros and cons about her money attitude.
6 Reasons Why Meredith Vieira Seems Frugal
1) Lack of Celeb trinkets: She walked to the interview without sunglasses, blackberry or a purse. No entourage or handlers.
2) Disowns Clothes. Dressed down for a dinner meeting at co-host Matt Lauer’s apartment. She wore: a white-tee, black jacket and jeans. Clothes: “I don’t own any,” she is quoted as saying in Good Housekeeping.
3) Rarely Shops: “Vieira never goes shopping and has, she says, absolutely no interest in keeping up appearances,” the article states.
4) Family Illnesses. Her husband’s recent spate of serious illnesses (cancer and MS) have made her “grateful for even the simplest pleasures,” according to the GH profile.
5) Because Barb says so. Barbara Walters says Vieira is not into stuff: “She lives in a beautiful home, but she is personally very unmaterialistic."
6) Frugal sound bite: “The prestige, the money, the whole thing..at the end of the day, that didn’t matter."-- Meredith Vieira in GH.
5 Reasons Why Meredith Vierira may not be frugal
1) She hosted Who Wants to be a Millionaire for four years.
2) Vieira is the mother of three teenagers.
3) Her Today show salary is $40 million over the next four years, according to industry rumors.
4) She owns a newly renovated home on the Hudson River. Transalation: big-ticket changes in her home.
5) She has expensive highlights in her hair. (I know NYC salon prices, and color stripes (lowlight and highlights) like that don't come cheap.)
6 Reasons Why Meredith Vieira Seems Frugal
1) Lack of Celeb trinkets: She walked to the interview without sunglasses, blackberry or a purse. No entourage or handlers.
2) Disowns Clothes. Dressed down for a dinner meeting at co-host Matt Lauer’s apartment. She wore: a white-tee, black jacket and jeans. Clothes: “I don’t own any,” she is quoted as saying in Good Housekeeping.
3) Rarely Shops: “Vieira never goes shopping and has, she says, absolutely no interest in keeping up appearances,” the article states.
4) Family Illnesses. Her husband’s recent spate of serious illnesses (cancer and MS) have made her “grateful for even the simplest pleasures,” according to the GH profile.
5) Because Barb says so. Barbara Walters says Vieira is not into stuff: “She lives in a beautiful home, but she is personally very unmaterialistic."
6) Frugal sound bite: “The prestige, the money, the whole thing..at the end of the day, that didn’t matter."-- Meredith Vieira in GH.
5 Reasons Why Meredith Vierira may not be frugal
1) She hosted Who Wants to be a Millionaire for four years.
2) Vieira is the mother of three teenagers.
3) Her Today show salary is $40 million over the next four years, according to industry rumors.
4) She owns a newly renovated home on the Hudson River. Transalation: big-ticket changes in her home.
5) She has expensive highlights in her hair. (I know NYC salon prices, and color stripes (lowlight and highlights) like that don't come cheap.)
Juggling Carnivals: Best of, Debt Redux & Personal Finance
Pragmatic Finance hosts the
Carnival of Debt Reduction. It's a diverse roundup with helpful divisions. The host has even included a few of his favorite posts on the topic of debt reduction.
Owners Manual conducts the Best of Me Symphony. This eclectic roundup includes everything from dating tips to clowns, with a side trip to the Bahamas.
No Credit Needed presents the Carnival of Personal Finance with clean categories and pithy descriptions. Topics include: budgeting, savings and credit.
Thanks to all three hosts for including me in their roundups.
Carnival of Debt Reduction. It's a diverse roundup with helpful divisions. The host has even included a few of his favorite posts on the topic of debt reduction.
Owners Manual conducts the Best of Me Symphony. This eclectic roundup includes everything from dating tips to clowns, with a side trip to the Bahamas.
No Credit Needed presents the Carnival of Personal Finance with clean categories and pithy descriptions. Topics include: budgeting, savings and credit.
Thanks to all three hosts for including me in their roundups.
Tuesday, September 12, 2006
Tuesday Tips: Uses for Cornstarch
Here are some alternative uses for cornstarch that were featured in a past edition of Woman’s World.
• Carpet freshener: Shake cornstarch over your carpet. Let it sit for 20 minutes. Vacuum. This should deodorize the carpet without heavy chemicals.
• Foot fancy: Toss a little cornstarch into your socks. This dusting will soak up the moisture from your soles and help prevent blisters by reducing friction.
• Auto Buff: Dust cloth rags with cornstarch before you shine up your car.
This step will remove surplus polish and add an extra gleam to your car.
• Natural Face Paint: Recipe: Two parts cornstarch for each amount of vegetable shortening. (2 to 1 ratio) Divide the mix into bowls. Use food coloring to color the different bowls. Apply to face.
• Easy-on-gloves: Rubber gloves slide on easily if you sprinkle cornstarch inside.
• Leather Anti-Stain-Saver: To banish potential oil stains from leather (furniture, clothing, or shoes) apply cornstarch to the oil spot. Leave it in place overnight in order to soak up the grease. Use a clean cloth to brush off the corn starch. Oil is removed with the starch.
• Do-It-Yourself Spray Starch: Recipe: one cup of cold water and a half teaspoon of cornstarch. Shake, shake before spraying and ironing.
--Source: Woman’s World.
• Carpet freshener: Shake cornstarch over your carpet. Let it sit for 20 minutes. Vacuum. This should deodorize the carpet without heavy chemicals.
• Foot fancy: Toss a little cornstarch into your socks. This dusting will soak up the moisture from your soles and help prevent blisters by reducing friction.
• Auto Buff: Dust cloth rags with cornstarch before you shine up your car.
This step will remove surplus polish and add an extra gleam to your car.
• Natural Face Paint: Recipe: Two parts cornstarch for each amount of vegetable shortening. (2 to 1 ratio) Divide the mix into bowls. Use food coloring to color the different bowls. Apply to face.
• Easy-on-gloves: Rubber gloves slide on easily if you sprinkle cornstarch inside.
• Leather Anti-Stain-Saver: To banish potential oil stains from leather (furniture, clothing, or shoes) apply cornstarch to the oil spot. Leave it in place overnight in order to soak up the grease. Use a clean cloth to brush off the corn starch. Oil is removed with the starch.
• Do-It-Yourself Spray Starch: Recipe: one cup of cold water and a half teaspoon of cornstarch. Shake, shake before spraying and ironing.
--Source: Woman’s World.
My So-called “IRS” Refund: A Scam
So yesterday an email arrives about a so-called $163 refund -- for me -- from the so-called IRS. It’s a total scam. Just another phishing ploy.
Here’s the email:
Subject line: "IRS Notification Please read this"
Actual text:
“After the last annual calculations of your fiscal activity we have determined that you are eligible to receive a tax refund of $163.80. Please submit the tax refund request and allow us 6-9 days in order to process it.
A refund can be delayed for a variety of reasons. For example submitting invalid records or applying after the deadline.
To access the form for your tax refund, please click here...”
***
Totally bogus. The real IRS has issued a Consumer Alert
about phishing schemes that use the IRS name and logo.
The real IRS Speaks Out:
Common Phishing Schemes
• One e-mail scam, fraught with grammatical errors and typos, looks like a page from the IRS Web site and claims to be from the "IRS Antifraud Comission" (sic), a fictitious group. The e-mail claims someone has enrolled the taxpayer's credit card in EFTPS and has tried to pay taxes with it. The e-mail also says there have been fraud attempts involving the taxpayer's bank account. The e-mail claims money was lost and "remaining founds" (sic) are blocked. Recipients are asked to click on a link that will help them recover their funds, but the subsequent site asks for personal information that the thieves could use to steal the taxpayer’s identity.
• E-mails claiming to come from tax-refunds@irs.gov, admin@irs.gov and similar variations told the recipients that they were eligible to receive a tax refund for a given amount. It directed recipients to claim the refund by using a link contained in the e-mail which sent the recipient to a Web site. The site, a copy of the IRS Web site, displayed an interactive page similar to a genuine IRS one; however, it had been modified to ask for personal and financial information that the genuine IRS interactive page does not require.
The Treasury Inspector General for Tax Administration (TIGTA) has found numerous separate Web sites in at least 20 different countries hosting variations on this scheme.
• A bogus IRS letter and Form W-8BEN (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding) asked non-residents to provide personal information such as account numbers, PINs, mother’s maiden name and passport number. The legitimate IRS Form W-8BEN, which is used by financial institutions to establish appropriate tax withholding for foreign individuals, does not ask for any of this information.
If you receive a suspicious e-mail that claims to come from the IRS, you can relay that e-mail to a new IRS mailbox, phishing@irs.gov or call 1-800-366-4484."
Here’s the email:
Subject line: "IRS Notification Please read this"
Actual text:
“After the last annual calculations of your fiscal activity we have determined that you are eligible to receive a tax refund of $163.80. Please submit the tax refund request and allow us 6-9 days in order to process it.
A refund can be delayed for a variety of reasons. For example submitting invalid records or applying after the deadline.
To access the form for your tax refund, please click here...”
***
Totally bogus. The real IRS has issued a Consumer Alert
about phishing schemes that use the IRS name and logo.
The real IRS Speaks Out:
Common Phishing Schemes
• One e-mail scam, fraught with grammatical errors and typos, looks like a page from the IRS Web site and claims to be from the "IRS Antifraud Comission" (sic), a fictitious group. The e-mail claims someone has enrolled the taxpayer's credit card in EFTPS and has tried to pay taxes with it. The e-mail also says there have been fraud attempts involving the taxpayer's bank account. The e-mail claims money was lost and "remaining founds" (sic) are blocked. Recipients are asked to click on a link that will help them recover their funds, but the subsequent site asks for personal information that the thieves could use to steal the taxpayer’s identity.
• E-mails claiming to come from tax-refunds@irs.gov, admin@irs.gov and similar variations told the recipients that they were eligible to receive a tax refund for a given amount. It directed recipients to claim the refund by using a link contained in the e-mail which sent the recipient to a Web site. The site, a copy of the IRS Web site, displayed an interactive page similar to a genuine IRS one; however, it had been modified to ask for personal and financial information that the genuine IRS interactive page does not require.
The Treasury Inspector General for Tax Administration (TIGTA) has found numerous separate Web sites in at least 20 different countries hosting variations on this scheme.
• A bogus IRS letter and Form W-8BEN (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding) asked non-residents to provide personal information such as account numbers, PINs, mother’s maiden name and passport number. The legitimate IRS Form W-8BEN, which is used by financial institutions to establish appropriate tax withholding for foreign individuals, does not ask for any of this information.
If you receive a suspicious e-mail that claims to come from the IRS, you can relay that e-mail to a new IRS mailbox, phishing@irs.gov or call 1-800-366-4484."
Monday, September 11, 2006
Meet Me on the Radio
I'll be chatting live on WLRN, an NPR station, with Joseph Cooper, host of Topical Currents at 1 pm on Thursday, September 14, eastern standard time.
Tune in anywhere: Hit the "listen now" button on WLRN's website; otherwise for local traffic in Miami it's: 91.3 FM on the radio dial.
My frugal buddy Melisa Neuman, another newspaper columnist, will also be on the show. Alone, I'm just a Frugal Duchess, but together with Melisa, we're the Frugal Queens.
We'll even get to the studio in a cool, white convertible late model sports car.
There's a frugal story behind the car, but don't ask me what model, because I don't drive. Melisa drives and I dream about driving.
We plan to talk about the pitfalls and perks of Off-Season shopping, Off-Season travel and saving electricity.
Leave a comment or send an email (sharonhr@bellsouth) with your favorite frugal tip. Time permitting, I'll mention as many tips as possible, with credit.
Tune in anywhere: Hit the "listen now" button on WLRN's website; otherwise for local traffic in Miami it's: 91.3 FM on the radio dial.
My frugal buddy Melisa Neuman, another newspaper columnist, will also be on the show. Alone, I'm just a Frugal Duchess, but together with Melisa, we're the Frugal Queens.
We'll even get to the studio in a cool, white convertible late model sports car.
There's a frugal story behind the car, but don't ask me what model, because I don't drive. Melisa drives and I dream about driving.
We plan to talk about the pitfalls and perks of Off-Season shopping, Off-Season travel and saving electricity.
Leave a comment or send an email (sharonhr@bellsouth) with your favorite frugal tip. Time permitting, I'll mention as many tips as possible, with credit.
The Earthquake and the Talking Dog
An earthquake hit the Florida-Louisiana region on Sunday morning. I thought I was crazy, but I learned a few frugal lessons.
Scenario: 11 am Sunday, Miami Beach. I am on the couch. It’s a large heavy couch, but it’s moving. Initially, I think that I’m experiencing the side effects of a sugar-caffeine overload. But no, the world is moving. I am caught in the Matrix and my reality is shifting
Me: “The couch is moving!”
Hubby: Someone’s kicking the couch.
Me: “No! The couch is really shaking.”
My Daughter, age 8: “And the dog is talking”
Everyone: Laughter. I feel spacey--as usual. But I'm amused by my daughter's wit. My kids are funny.
But about 10 minutes later, my news savvy parents call from Central Florida with a bulletin about an earthquake in Florida. I tell them my experience and I feel validated.
Here’s what I learned from the Earthquake:
1) Trust your gut. Like Neo from the Matrix, I felt a glitch in the Matrix. It was real. But too often, I’ve made silly financial or professional decisions because I’ve denied gut feelings about glitches in products, services or events.
2) Little Things Matter: The couch did not move a lot, but my world view was definitely altered. Small movements can count a lot. Sometimes, in a push to achieve slam-dunk/big-ticket/fill-in-the cliché success, I ignore the “loose change” or the minor gains and focus just on the Major Savings. But honestly, nickel-and-dime moments in savings, in debt reduction and in career growth can add up to Major Shifts in lifestyle. It’s The Long Tail as noted by Chris Anderson.
3) Talking Dog Moments: A sense of humor is worth a large fortune.
Scenario: 11 am Sunday, Miami Beach. I am on the couch. It’s a large heavy couch, but it’s moving. Initially, I think that I’m experiencing the side effects of a sugar-caffeine overload. But no, the world is moving. I am caught in the Matrix and my reality is shifting
Me: “The couch is moving!”
Hubby: Someone’s kicking the couch.
Me: “No! The couch is really shaking.”
My Daughter, age 8: “And the dog is talking”
Everyone: Laughter. I feel spacey--as usual. But I'm amused by my daughter's wit. My kids are funny.
But about 10 minutes later, my news savvy parents call from Central Florida with a bulletin about an earthquake in Florida. I tell them my experience and I feel validated.
Here’s what I learned from the Earthquake:
1) Trust your gut. Like Neo from the Matrix, I felt a glitch in the Matrix. It was real. But too often, I’ve made silly financial or professional decisions because I’ve denied gut feelings about glitches in products, services or events.
2) Little Things Matter: The couch did not move a lot, but my world view was definitely altered. Small movements can count a lot. Sometimes, in a push to achieve slam-dunk/big-ticket/fill-in-the cliché success, I ignore the “loose change” or the minor gains and focus just on the Major Savings. But honestly, nickel-and-dime moments in savings, in debt reduction and in career growth can add up to Major Shifts in lifestyle. It’s The Long Tail as noted by Chris Anderson.
3) Talking Dog Moments: A sense of humor is worth a large fortune.
$3 billion in Coupons Savings & Kids
On a recent shopping trip, coupons made a big dent in the bill. Using a combination of advertised in-store discounts ($17.55) and coupons ($9.59), my husband saved $27.14, roughly half of our total bill of $56.46.
We're not the only coupon clippers. U.S. consumers save about $3 billion a year with grocery store coupons, according to the Promotion Marketing Association.
Those savings are significant in the current economic climate, according to Manuel Lasaga, president of Miami-based Strategic Information Analysis, an economic and financial consulting firm. ''Coupons can help reduce the gap between what consumers earn and the rising cost of living,'' Lasaga said.
Coupons are also a useful tool for educating kids about finance and organization.
Charles Brown, co-chairman of the Coupon Council at PMA, says he has ``used coupons to turn everyday shopping trips with my twins into great learning experiences and quality time spent together.''
Here are a few tips for building your children's educational skills while saving money.
• Encourage kids to sharpen their organizational skills by arranging coupons by expiration date, category or store. Shoppers who spend 20 minutes a week organizing coupons can shave their annual food bill by 20 percent, according to industry data.
• Although 90 percent of coupons are bundled with the Sunday newspaper, manufacturers increasingly use the Internet to publish discounts. Parents can work with kids to use Web-based search engines to track down deals on toys, equipment, entertainment and food.
• For younger children, coupons provide games in number recognition, counting and simple computations. For older kids, coupons can be used to calculate percentages and multiplication.
• Involve kids in planning a family menu. Provide a fixed dollar amount, coupons and a blank page. Encourage kids to design a menu that fits the dollar limits. A friend tried this with her teenage daughter and was surprised at how strict her daughter became when faced with the chore of managing the family food budget.
And when you feel like taking a treat, many restaurants participate in either printed or online coupon services. Kids can be given the task of using the menu and coupons to keep the family meal within a specific price range.
By the way, it really helps if you offer kids a small cut of the savings. That strategy has worked for me.
We're not the only coupon clippers. U.S. consumers save about $3 billion a year with grocery store coupons, according to the Promotion Marketing Association.
Those savings are significant in the current economic climate, according to Manuel Lasaga, president of Miami-based Strategic Information Analysis, an economic and financial consulting firm. ''Coupons can help reduce the gap between what consumers earn and the rising cost of living,'' Lasaga said.
Coupons are also a useful tool for educating kids about finance and organization.
Charles Brown, co-chairman of the Coupon Council at PMA, says he has ``used coupons to turn everyday shopping trips with my twins into great learning experiences and quality time spent together.''
Here are a few tips for building your children's educational skills while saving money.
• Encourage kids to sharpen their organizational skills by arranging coupons by expiration date, category or store. Shoppers who spend 20 minutes a week organizing coupons can shave their annual food bill by 20 percent, according to industry data.
• Although 90 percent of coupons are bundled with the Sunday newspaper, manufacturers increasingly use the Internet to publish discounts. Parents can work with kids to use Web-based search engines to track down deals on toys, equipment, entertainment and food.
• For younger children, coupons provide games in number recognition, counting and simple computations. For older kids, coupons can be used to calculate percentages and multiplication.
• Involve kids in planning a family menu. Provide a fixed dollar amount, coupons and a blank page. Encourage kids to design a menu that fits the dollar limits. A friend tried this with her teenage daughter and was surprised at how strict her daughter became when faced with the chore of managing the family food budget.
And when you feel like taking a treat, many restaurants participate in either printed or online coupon services. Kids can be given the task of using the menu and coupons to keep the family meal within a specific price range.
By the way, it really helps if you offer kids a small cut of the savings. That strategy has worked for me.
Sunday, September 10, 2006
Frugal Spa Wrap: Favorite Post-its
The Frugal Weekend Spa wraps up with a weekly wrap of some of my favorite posts from other blogs, divided by topic.
Finance: Nuts and Bolts
All Financial Matters provides a useful list of calculators:
gas calculator, cost of waiting, how much life insurance do you need and others.
Financial Freedumb has a pert answer about why he has so much cash on hand and how he did it. Hint: he’s young but he’s been working since age 14.
Work and College
Boston Gal featured an insightful piece about how more employers are using credit scores as a hire/no-hire tool.
Free the Drone offers a tip on getting free text books. Hint: the books come with advertisements. But hey it’s free.
The Homefront & Personal Stuff
Blogging Away Debts has shaved her budget, with home haircuts. Cute!
No Limits Ladies has an adorable piece about being vocal about your birthday: Brag and collect the Goody Bags.
Blueprint for Financial Prosperity has a fun piece on why we should snap up that Lexus and other status symbols.
-
Finance: Nuts and Bolts
All Financial Matters provides a useful list of calculators:
gas calculator, cost of waiting, how much life insurance do you need and others.
Financial Freedumb has a pert answer about why he has so much cash on hand and how he did it. Hint: he’s young but he’s been working since age 14.
Work and College
Boston Gal featured an insightful piece about how more employers are using credit scores as a hire/no-hire tool.
Free the Drone offers a tip on getting free text books. Hint: the books come with advertisements. But hey it’s free.
The Homefront & Personal Stuff
Blogging Away Debts has shaved her budget, with home haircuts. Cute!
No Limits Ladies has an adorable piece about being vocal about your birthday: Brag and collect the Goody Bags.
Blueprint for Financial Prosperity has a fun piece on why we should snap up that Lexus and other status symbols.
-
Frugal Sports Quote: Cheap & Good Marlins
I like French manicures, but I also like sports. With that in mind, I offer The Frugal Sports Quote. Sportswriter Dan LeBatard has a great quote about cheap money and the Florida Marlins in today’s Miami Herald.
Summary: Cheap Baeball Team makes History
The Setup: The Florida Marlins baseball team – with the lowest payroll in Major League Baseball - is performing amazingly well in a race for a playoff spot. Last night, the Marlins beat the Philadelphia Phillies by a score of 4 to 3, in a great 10 inning game.
Dan LeBatard — newspaper columnist, and broadcast personality — has written a spirited recap of the game.
The Quote: “We interrupt this column…to point out how unfathomable it is that the youngest team in baseball history and the cheapest team in baseball this year is playing meaningful games in September.”
The Bottom Line: The Marlins are a great baseball bargain.
Summary: Cheap Baeball Team makes History
The Setup: The Florida Marlins baseball team – with the lowest payroll in Major League Baseball - is performing amazingly well in a race for a playoff spot. Last night, the Marlins beat the Philadelphia Phillies by a score of 4 to 3, in a great 10 inning game.
Dan LeBatard — newspaper columnist, and broadcast personality — has written a spirited recap of the game.
The Quote: “We interrupt this column…to point out how unfathomable it is that the youngest team in baseball history and the cheapest team in baseball this year is playing meaningful games in September.”
The Bottom Line: The Marlins are a great baseball bargain.
Sunday Word Economist: Blogging & My Career
I've been a journalist for 26 years. I've kept a journal since Oct. 27, 1972 when I was 14. But my real breakthrough in writing began in October of 2005, when I started blogging.
The immediacy of the format, the lack of editors and the pace of self-imposed deadlines have forced me to rely only on myself to create fresh, accurate and clean copy. I've become more economical with my choice of words because I know that I have only a nano-second to catch your attention in cyberspace. So here's my list of:
How Blogging Has Improved My Writing & Work Ethic
My Version of Blogging 101
• Better Headlines: As a print journalist, I relied heavily on editors and the copy desk to write great headlines for my stories. I don’t have that luxury in cyberspace. In the world of DIY publishing, it’s my job to write pull-you-in headlines.
• Frugal Word Choice: Of course, I have unlimited space in cyberspace, but if I blabber on and take too long to get to the point, my entries in PFBlogs.org look boring. I’ve learned to write better grab-you-in leads.
• Spacing. It’s hard to read a page of straight type. I’ve learned to make my posts easier to read by using lists, lots of paragraphs, sub decks and thoughtful spacing.
• The Proofreader: I’ll be frank. I’m a good writer but a terrible proofreader. I cringe when I think of the typos and other errors that I’ve passed through to my editors. Due to blogging, I’ve become better at scanning my copy for errors.
My most efficient proofreading technique: Reading my copy aloud and slowly. Also, I have my mom. She tells me when I have typos online. My father is also a sharp reader. And they tell their friends to read my blog. So I have to keep the folks happy and proud with error-free copy.
• Deadline performance. My editors enjoy my copy, but hate getting it late or at the last minute. (Deadlines have been my Achilles heel.) Blogging has changed my deadline performance. The pace of Press-a-button publishing has made me more efficient.
There’s more, but that’s enough for now. Watch this space for the weekly appearance of the Sunday Word Economist.
The immediacy of the format, the lack of editors and the pace of self-imposed deadlines have forced me to rely only on myself to create fresh, accurate and clean copy. I've become more economical with my choice of words because I know that I have only a nano-second to catch your attention in cyberspace. So here's my list of:
How Blogging Has Improved My Writing & Work Ethic
My Version of Blogging 101
• Better Headlines: As a print journalist, I relied heavily on editors and the copy desk to write great headlines for my stories. I don’t have that luxury in cyberspace. In the world of DIY publishing, it’s my job to write pull-you-in headlines.
• Frugal Word Choice: Of course, I have unlimited space in cyberspace, but if I blabber on and take too long to get to the point, my entries in PFBlogs.org look boring. I’ve learned to write better grab-you-in leads.
• Spacing. It’s hard to read a page of straight type. I’ve learned to make my posts easier to read by using lists, lots of paragraphs, sub decks and thoughtful spacing.
• The Proofreader: I’ll be frank. I’m a good writer but a terrible proofreader. I cringe when I think of the typos and other errors that I’ve passed through to my editors. Due to blogging, I’ve become better at scanning my copy for errors.
My most efficient proofreading technique: Reading my copy aloud and slowly. Also, I have my mom. She tells me when I have typos online. My father is also a sharp reader. And they tell their friends to read my blog. So I have to keep the folks happy and proud with error-free copy.
• Deadline performance. My editors enjoy my copy, but hate getting it late or at the last minute. (Deadlines have been my Achilles heel.) Blogging has changed my deadline performance. The pace of Press-a-button publishing has made me more efficient.
There’s more, but that’s enough for now. Watch this space for the weekly appearance of the Sunday Word Economist.
Saturday, September 09, 2006
Spa Chat: $250 Manicure & Cheap Paint
Ten painted, clipped and massaged fingers for $25 each. That's a total of $250 for a manicure at a high-end New York salon, according to a recent issue of People Magazine. But there are far cheaper alternatives.
1. Beauty Schools: for about $5 or 50 cents a finger, manicures are available at many beauty schools.
2. Do it Yourself French manicures cost as low as 50 cents ( or less) per session. That’s a nickel a finger.
3. Avon has a dry paint manicure. It’s like applying thin paint chips to your nails. The paint job looks very professional and lasts up to two weeks. (I've tried it.) The prices for this product range from about $5 to $8. It’s easy and cheap. And you don't have to wait for your nails to dry. No smearing.
4. Just slap on a coat of clear polish for pennies a session. It looks great. It’s cheap and when the paint inevitably chips, no one notice because the gloss is colorless.
5. Or just buff your nails with a good nail brush. Apply olive oil to your cuticles. The proceess provides a natural gleam without the harsh chemicals.
1. Beauty Schools: for about $5 or 50 cents a finger, manicures are available at many beauty schools.
2. Do it Yourself French manicures cost as low as 50 cents ( or less) per session. That’s a nickel a finger.
3. Avon has a dry paint manicure. It’s like applying thin paint chips to your nails. The paint job looks very professional and lasts up to two weeks. (I've tried it.) The prices for this product range from about $5 to $8. It’s easy and cheap. And you don't have to wait for your nails to dry. No smearing.
4. Just slap on a coat of clear polish for pennies a session. It looks great. It’s cheap and when the paint inevitably chips, no one notice because the gloss is colorless.
5. Or just buff your nails with a good nail brush. Apply olive oil to your cuticles. The proceess provides a natural gleam without the harsh chemicals.
Friday, September 08, 2006
Frugal Spa Celeb: Courtney Cox
Why spend a fortune on make-up? Courtney Cox -- of Friends fame and Jennifer Aniston BBF -- is apparently taking a frugal approach to personal care as she ages, reports the Sept. 18 issue of In Touch Weekly magazine.
The magazine features a timeline of Cox photos dating back to her break-through 1980s fame in a Bruce Springsteen's video ("Dancing in the Dark") through her star turns in the Scream movie series and in Friends.
The verdict: Courtney (now age 40) appears to be spending less on makeup and with the make-under she really looks good. Less is clearly more.
In her own words:
"As I get older, I realize that the less makeup I wear, the better."
--Courtney Cox
Sept. 18 issues of InTouch Weekly.
The magazine features a timeline of Cox photos dating back to her break-through 1980s fame in a Bruce Springsteen's video ("Dancing in the Dark") through her star turns in the Scream movie series and in Friends.
The verdict: Courtney (now age 40) appears to be spending less on makeup and with the make-under she really looks good. Less is clearly more.
In her own words:
"As I get older, I realize that the less makeup I wear, the better."
--Courtney Cox
Sept. 18 issues of InTouch Weekly.
Friday Spotlight: My 1st Million At 33
Welcome to the Weekend Spa. Frugal of My 1st Million at 33 checks in as this week’s Friday Spotlight Guest. His reader-friendly blog is filled with savvy information about stocks, real estate and other insights about the capital markets.
As this week's Friday spotlight guest, My 1st Million at 33 provides the story-behind the numbers with a personal essay about his father and lessons in business ethics.
What My Father Taught Me About Business
by Frugal of My 1st Million at 33
My father is only a high school graduate. But all of his three children have at least a master's degree. He may not know anything about calculus or quantum physics. However as a successful businessman, he has taught me a few things about how to be a good businessman. He said to me: "A good business is a business in which you let people take out of their money to buy your stuff, and still smile and shake your hands."
My Dad's teaching may sound very plain, but the more I contemplate over it, the more I glean from his insightful words. Every business involves certain exchanges of money and goods or services. But to gain any repeat business, you must make your customers happy. A good business is always win-win. You must provide something of real value to the customers, and in return, you also profit from it. If you are simply trying to cheat money out of your customers, your business cannot last.
Although I have not yet started any business of my own, everytime when I look into any business opportunities, I always ask myself these questions:
* Can I provide any values to my customers?
* What additional values can I deliver to my customers, that my competitors cannot?
If I can answer the above two questions satisfactorily, then I know very well that I can make it into a good business according to my Dad's criterion.
Some people including myself may think that a businessman makes a boatload of dirty money by telling lies and trying to trick money out of your pocket. I never like to lie to people, and so I never wanted to become a businessman. I just cannot tell my customers: "oh! you're getting a great deal," while I'm making lots of profits from it.
But throughout the years of possibly wanting to start a business of my own, I finally realized that being a good businessman is so far from making money by telling lies. Being a good businessman is about delivering values to customers at a lower cost relative to fierce competitors. Ultimately, I grew up from a teenager who couldn't appreciate my father's profession to an adult who understands how difficult it is to "let people take out of their money to buy your stuff, and still smile and shake your hands."
Since then, I have applied the same principle to my dealings with others. To have a lasting partnership or relationship, one must treat the other party like customers, and deliver values in exchange of what you want. I like to be treated fairly, and likewise, everyone else wants to be treated fairly too.
I will never give the short end of a stick to my partners, and always try to be as fair as possible. To do otherwise is called exploitation of your employees or your partners. You can try to put any word spin on it, but facts are facts. A successful partnership is a win-win situation. A lasting relationship is mutually beneficial to each other.
To give values to others, whether it's tangible or intangible, you will be rewarded in the long term. Such is the basic principle of a good business.
--My 1st Million at 33
As this week's Friday spotlight guest, My 1st Million at 33 provides the story-behind the numbers with a personal essay about his father and lessons in business ethics.
What My Father Taught Me About Business
by Frugal of My 1st Million at 33
My father is only a high school graduate. But all of his three children have at least a master's degree. He may not know anything about calculus or quantum physics. However as a successful businessman, he has taught me a few things about how to be a good businessman. He said to me: "A good business is a business in which you let people take out of their money to buy your stuff, and still smile and shake your hands."
My Dad's teaching may sound very plain, but the more I contemplate over it, the more I glean from his insightful words. Every business involves certain exchanges of money and goods or services. But to gain any repeat business, you must make your customers happy. A good business is always win-win. You must provide something of real value to the customers, and in return, you also profit from it. If you are simply trying to cheat money out of your customers, your business cannot last.
Although I have not yet started any business of my own, everytime when I look into any business opportunities, I always ask myself these questions:
* Can I provide any values to my customers?
* What additional values can I deliver to my customers, that my competitors cannot?
If I can answer the above two questions satisfactorily, then I know very well that I can make it into a good business according to my Dad's criterion.
Some people including myself may think that a businessman makes a boatload of dirty money by telling lies and trying to trick money out of your pocket. I never like to lie to people, and so I never wanted to become a businessman. I just cannot tell my customers: "oh! you're getting a great deal," while I'm making lots of profits from it.
But throughout the years of possibly wanting to start a business of my own, I finally realized that being a good businessman is so far from making money by telling lies. Being a good businessman is about delivering values to customers at a lower cost relative to fierce competitors. Ultimately, I grew up from a teenager who couldn't appreciate my father's profession to an adult who understands how difficult it is to "let people take out of their money to buy your stuff, and still smile and shake your hands."
Since then, I have applied the same principle to my dealings with others. To have a lasting partnership or relationship, one must treat the other party like customers, and deliver values in exchange of what you want. I like to be treated fairly, and likewise, everyone else wants to be treated fairly too.
I will never give the short end of a stick to my partners, and always try to be as fair as possible. To do otherwise is called exploitation of your employees or your partners. You can try to put any word spin on it, but facts are facts. A successful partnership is a win-win situation. A lasting relationship is mutually beneficial to each other.
To give values to others, whether it's tangible or intangible, you will be rewarded in the long term. Such is the basic principle of a good business.
--My 1st Million at 33
Thursday, September 07, 2006
Insurers: Warming to Global Warming
It's a Green issue: money and the enviroment. Financial losses from the last few seasons of increased Hurricane activity have made the insurance industry pay attention to the issue of global warming. Affordable home insurance is a big problem in Florida and other coastal areas.
This report offers details about changes and financial incentives that are underway in the insurance sector. It might be all smoke and mirrors, but I'm just impressed with the idea that big business is finally taking global warming seriously.
Here is the text:
"Dozens of new insurance activities, such as 'green' building credits and incentives for investing in renewable energy, are emerging to tackle the causes of climate change and rising weather-related losses in the U.S. and globally, according to a major new report issued today by the Ceres investor coalition. But the report also states that more insurance companies need to be offering similar services to minimize losses and make the most of business opportunities related to climate change.
"Climate change poses unprecedented risks to the insurance industry, but it also creates vast opportunities for new products and services to help consumers and businesses reduce their losses, while also reducing the pollution causing global warming," said Mindy S. Lubber, president of Ceres.
"We've seen encouraging progress from big-name insurers and brokers since last year's devastating hurricanes, but many more creative services will be needed as we confront what is perhaps the biggest threat in the industry's history."
The report comes on the heels of devastating back-to-back hurricane seasons in the U.S. that caused a record $75 billion in insured losses during 2004 and 2005, including $45 billion from Hurricane Katrina alone.
While no individual weather event can be attributed to global warming, a growing body of new scientific data show that rising temperatures are likely increasing the intensity of hurricanes, floods, drought, wildfires and other extreme weather events in the U.S. and globally.
The report, "From Risk to Opportunity: How Insurers Can Proactively and Profitably Manage Climate Change," highlights the insurance industry's unique, powerful role historically in helping the country grapple and manage emerging risks.
The report, written by two insurance industry experts, identifies 190 innovative products and services available or in the pipeline from dozens of insurance providers in 16 countries. Many provide win-win benefits, by reducing financial losses and greenhouse gas emissions. More than half of the activities come from U.S. companies, covering climate change solutions including energy efficiency, green building design, carbon emissions trading and sustainable driving practices. Among the recent offerings that show promise for customers and insurers:
Green Coverage and other Innovations
* Firemen's Fund Insurance is launching a first-of-its-kind 'green' coverage, including rate credits and other incentives, for commercial building owners who re-build damaged properties using green and LEED-certified (Leadership in Energy and Environmental Design) building practices. California-based Firemen's Fund will begin seeking state regulatory approvals this month so that the products can be offered in states around the country this fall.
* Marsh, the world's largest insurance broker, and AIG, the world's largest insurer, have launched carbon emissions credit guarantees and other new renewable energy-related insurance products that are allowing more companies to participate in carbon offset projects and growing carbon emissions trading markets. The carbon trading market in the European Union alone is expected to hit $30 billion by the end of 2006.
* Insurer-initiated hurricane loss prevention methods used at nearly 500 commercial locations incurred eight times less damage from Hurricane Katrina than properties that did not make the engineering improvements, avoiding $500 million in property damage. Insurer FM Global says the $500 million in savings came after customer investments of only $2.5 million, and helped make the company profitable in a year when few insurers were.
* A Japanese insurer, Tokio Marine & Nichido Life, has reforested more than 7,500 acres of mangroves in Indonesia, Thailand and several other countries to minimize losses from rising cyclone-related risks.
Wake-up Call
"The insurance sector is poised to make a major contribution to long-term national and international efforts to curb the growth of greenhouse gas emissions, while helping to fortify society against the near term impacts of climate change," Mills said.
"Last year's hurricanes were a real wake up call for the industry and many U.S. insurers are creating programs to help businesses minimize future losses. Many of these strategies represent new profit centers for insurers, rather than simply symbolic and charitable activities."
However, the report concludes that the vast market potential related to climate change/other increasing weather damage is still largely untapped by the industry. The report also outlines the growing crisis of insurance availability and affordability in regions of the U.S., especially along the Gulf Coast, Florida and New England.
Ceres (http://www.ceres.org) is a national coalition of investors and environmental groups working with companies to address sustainability challenges such as climate change. Ceres directs the Investor Network on Climate Risk (INCR), a network of 50-plus institutional investors that collectively manage more than $3 trillion in assets."
This report offers details about changes and financial incentives that are underway in the insurance sector. It might be all smoke and mirrors, but I'm just impressed with the idea that big business is finally taking global warming seriously.
Here is the text:
"Dozens of new insurance activities, such as 'green' building credits and incentives for investing in renewable energy, are emerging to tackle the causes of climate change and rising weather-related losses in the U.S. and globally, according to a major new report issued today by the Ceres investor coalition. But the report also states that more insurance companies need to be offering similar services to minimize losses and make the most of business opportunities related to climate change.
"Climate change poses unprecedented risks to the insurance industry, but it also creates vast opportunities for new products and services to help consumers and businesses reduce their losses, while also reducing the pollution causing global warming," said Mindy S. Lubber, president of Ceres.
"We've seen encouraging progress from big-name insurers and brokers since last year's devastating hurricanes, but many more creative services will be needed as we confront what is perhaps the biggest threat in the industry's history."
The report comes on the heels of devastating back-to-back hurricane seasons in the U.S. that caused a record $75 billion in insured losses during 2004 and 2005, including $45 billion from Hurricane Katrina alone.
While no individual weather event can be attributed to global warming, a growing body of new scientific data show that rising temperatures are likely increasing the intensity of hurricanes, floods, drought, wildfires and other extreme weather events in the U.S. and globally.
The report, "From Risk to Opportunity: How Insurers Can Proactively and Profitably Manage Climate Change," highlights the insurance industry's unique, powerful role historically in helping the country grapple and manage emerging risks.
The report, written by two insurance industry experts, identifies 190 innovative products and services available or in the pipeline from dozens of insurance providers in 16 countries. Many provide win-win benefits, by reducing financial losses and greenhouse gas emissions. More than half of the activities come from U.S. companies, covering climate change solutions including energy efficiency, green building design, carbon emissions trading and sustainable driving practices. Among the recent offerings that show promise for customers and insurers:
Green Coverage and other Innovations
* Firemen's Fund Insurance is launching a first-of-its-kind 'green' coverage, including rate credits and other incentives, for commercial building owners who re-build damaged properties using green and LEED-certified (Leadership in Energy and Environmental Design) building practices. California-based Firemen's Fund will begin seeking state regulatory approvals this month so that the products can be offered in states around the country this fall.
* Marsh, the world's largest insurance broker, and AIG, the world's largest insurer, have launched carbon emissions credit guarantees and other new renewable energy-related insurance products that are allowing more companies to participate in carbon offset projects and growing carbon emissions trading markets. The carbon trading market in the European Union alone is expected to hit $30 billion by the end of 2006.
* Insurer-initiated hurricane loss prevention methods used at nearly 500 commercial locations incurred eight times less damage from Hurricane Katrina than properties that did not make the engineering improvements, avoiding $500 million in property damage. Insurer FM Global says the $500 million in savings came after customer investments of only $2.5 million, and helped make the company profitable in a year when few insurers were.
* A Japanese insurer, Tokio Marine & Nichido Life, has reforested more than 7,500 acres of mangroves in Indonesia, Thailand and several other countries to minimize losses from rising cyclone-related risks.
Wake-up Call
"The insurance sector is poised to make a major contribution to long-term national and international efforts to curb the growth of greenhouse gas emissions, while helping to fortify society against the near term impacts of climate change," Mills said.
"Last year's hurricanes were a real wake up call for the industry and many U.S. insurers are creating programs to help businesses minimize future losses. Many of these strategies represent new profit centers for insurers, rather than simply symbolic and charitable activities."
However, the report concludes that the vast market potential related to climate change/other increasing weather damage is still largely untapped by the industry. The report also outlines the growing crisis of insurance availability and affordability in regions of the U.S., especially along the Gulf Coast, Florida and New England.
Ceres (http://www.ceres.org) is a national coalition of investors and environmental groups working with companies to address sustainability challenges such as climate change. Ceres directs the Investor Network on Climate Risk (INCR), a network of 50-plus institutional investors that collectively manage more than $3 trillion in assets."
Oprah Poll: Fashion Victims & Closets
We're overshopped! That's my gut reaction after reading a survey of over 4,000 readers published in the Sept. issue of "O" The Oprah Magazine.
Here's my summary of the results, which were posted on omag-poll:
Back of the closet sightings:
A whopping 60 % of poll participants have NOT viewed the rear of their closet in months.
Shop-a-holics 'R Us
10 percent confessed to buying a new garment at least once a week.
Landslide: Jeans
The TOP ranked hardest item to purchase
Commitment Shy Jean Owners:
31 % own 10 pairs of jeans.
Shoe boutique owners
12 percent of polltakers own over 50 pairs of shoes
Naked & Unhappy
24 % view their closet each morning and moan: "Nothing to put on."
Moving into the Bottomless Clothing Pit
69 % pray for more closet room
Here's my summary of the results, which were posted on omag-poll:
Back of the closet sightings:
A whopping 60 % of poll participants have NOT viewed the rear of their closet in months.
Shop-a-holics 'R Us
10 percent confessed to buying a new garment at least once a week.
Landslide: Jeans
The TOP ranked hardest item to purchase
Commitment Shy Jean Owners:
31 % own 10 pairs of jeans.
Shoe boutique owners
12 percent of polltakers own over 50 pairs of shoes
Naked & Unhappy
24 % view their closet each morning and moan: "Nothing to put on."
Moving into the Bottomless Clothing Pit
69 % pray for more closet room
Wednesday, September 06, 2006
Eat This: Frugal Tips from a Diet Book
So I’m flipping through a diet book review and mid-bite, I realize that some diet philosophies work well in the finance world.
The Dorm Room Diet — written by Daphne Oz and featured in the a recent issue of People magazine — prompted me to create a mental link between diets and money.
Here are my insights based on the magazine review:
The Temptation: Open buffets, grilled cheese sandwiches and other rich, pay-as-you-go foods in the college cafeteria.
The Frugal Fix: Eat-in. Make your own salad dressings. Do-it-yourself meals.
The Temptation: Late-night junk food binges driven by purchases of cookies, chips, candy, pretzels, etc.
The Frugal Fix: Consume fruit and water. Prepare your own bags of low-calorie/low-cost treats.
The Temptation: Control Freak diets that make you crazy. You feel so deprived that you splurge, splurge, splurge.
The Frugal Fix: Occasional treats are good for the soul. (That’s my personal motto.)
The Dorm Room Diet — written by Daphne Oz and featured in the a recent issue of People magazine — prompted me to create a mental link between diets and money.
Here are my insights based on the magazine review:
The Temptation: Open buffets, grilled cheese sandwiches and other rich, pay-as-you-go foods in the college cafeteria.
The Frugal Fix: Eat-in. Make your own salad dressings. Do-it-yourself meals.
The Temptation: Late-night junk food binges driven by purchases of cookies, chips, candy, pretzels, etc.
The Frugal Fix: Consume fruit and water. Prepare your own bags of low-calorie/low-cost treats.
The Temptation: Control Freak diets that make you crazy. You feel so deprived that you splurge, splurge, splurge.
The Frugal Fix: Occasional treats are good for the soul. (That’s my personal motto.)
College Crisis: 7 Tips for Maxing out Degrees
Common wisdom declares that a degree doesn't matter after you land your first job. The truth is that most of my education about finance was delivered on the job as I chatted up traders, analysts and portfolio managers on Wall Street.
Therefore, this piece in my email box caught my eye. The release also features 7 tips for making the most of a college degree. Great insights about the real value of grades, internships and travel.
"Is College a Risky Investment?
By Andrew Hewitt and Luc d'Abadie
Once you get accepted into college and go on to get a degree you’re set for life, right? Wrong!
Only 53 percent of students who start college will actually graduate and a whopping 70 percent of those who do graduate end up unhappy and disillusioned in their career within the first five years. This is the College Crisis.
A Degree: Downpayment on Success
Unfortunately, a college degree is no longer an instant ticket to success. If you want your education to lead to abundant career opportunities, financial independence and fulfillment, then pay close attention to the following 7 strategies.
They are essential for avoiding the College Crisis and ensuring you a spot among the students who actually graduate and love what they do. For most people, college is the biggest investment of their lives. You can guarantee an excellent return on your investment by making these 7 strategies part of your college curriculum.
7 Tips for Getting the Most from a Degree
1. Get the grades you need, then move on to what’s really important,
As difficult as it may be to believe, a high GPA is not directly correlated with post college success. Stanford University published a study in 2003 that revealed GPA ranked 11th on the list of what employers look for when hiring graduates.
Grades are important, but what really matters to employers is your ability to communicate, organize, work in teams … among other skills that simply can’t be developed by memorizing a textbook. Here is the rule of thumb: get the grades you need so you don’t forego opportunities in your field of interest, but once you have that minimum grade level, venture outside the classroom where you can put theory into practice and develop the skills employers really want.
2. Discover what fires you up
The reason 70 percent of graduates are unhappy in their careers is because they speed through college and default into a career without taking time to discover if it’s something they truly enjoy.
Unfortunately, you’re not going to find a Passion 101 class on your college campus. Take time to focus on finding a career you’re passionate about—make it your number one priority! A great place to start is doing a personality profile like Myers Briggs or doing an online career assessment like the free activity found at passionpuzzle.com.
3. Build an all-star team
The best way to predict your future is to envision the future of the five people you spend the most time with. Who are these five people in your life? Do they share your values and support your dreams? Will they be where you want to be 10 years from now? Through your college years you will consciously or unconsciously develop a core group of friends. Be aware of who you spend your time with. If you want all-star results you’re going to need an all-star team to support and encourage you on your journey.
4. Venture beyond the classroom walls
It is extracurricular activities like student clubs, student government, volunteering and sports that allow you to gain the real world skills employers want. These skills cannot be taught in a classroom; you must venture beyond the classroom walls. Avoid the ‘too cool for school’ syndrome. Get involved on campus so you can make the contacts and gain the skills that will put job offers on your plate and great opportunities in your pocket.
5. Re-focus each semester
What do 3 percent of Yale students do that lead them to more success and bigger bank accounts than the other 97 percent combined? The answer is they have clearly defined and written goals. It’s easy to get sucked into the college routine and forget your main reasons for being there. Setting goals each semester will help you re-focus regularly so you stay on track and make the most of your college investment. Goals act as stepping stones that take you from where you are to where you want to be and are the ultimate weapon against procrastination. Set goals each semester and reap the rewards of being in the 3 percent of your graduating class.
6. Get your passport stamped
The benefits you will gain from traveling abroad are too extensive to list. Understanding new cultures and languages, expanding your comfort zone, making friends across the world, having a ton of fun and gaining an enlightened perspective of what you want to do with your life are just a few. You’ll be hard pressed to find someone who spent a semester or two abroad and doesn’t think it was the best experience of his or her life.
The number one regret of graduates is not taking advantage of study abroad programs. Don’t become one of them. Visit the Study Abroad office on your campus or search online to find exciting student exchange opportunities.
7. Do at least three internships
Most students complete one internship. Many will do two internships. But it’s the students who do three or four internships who gain the most valuable work experience, establish excellent contacts and gain crystal clarity on what career they want to pursue. As a student you have a unique four to five year window of opportunity to test drive careers and find one that will get you out of bed in the morning. Doing at least three test drives (internships) will ensure you get on the road to your dream job with the skills needed to accelerate ahead of the pack.
Although the large majority of students who start college will not graduate or enjoy the career it prepares them for, a select few have found a way to make college the best investment of their lives. They clarify what career they want to pursue, develop the real-world skills employers want, build lasting relationships with like-minded friends and stretch their comfort level to include amazing experiences they will cherish forever. These students are the inspiration behind these 7 strategies and are the ones who have proved they work. Use these strategies yourself so can you ensure college is the best investment of your life.
By Andrew Hewitt and Luc d'Abadie, co-authors of The Power of Focus for College Students and educators for Trump University. For more information, visit them at Focused Student
Therefore, this piece in my email box caught my eye. The release also features 7 tips for making the most of a college degree. Great insights about the real value of grades, internships and travel.
"Is College a Risky Investment?
By Andrew Hewitt and Luc d'Abadie
Once you get accepted into college and go on to get a degree you’re set for life, right? Wrong!
Only 53 percent of students who start college will actually graduate and a whopping 70 percent of those who do graduate end up unhappy and disillusioned in their career within the first five years. This is the College Crisis.
A Degree: Downpayment on Success
Unfortunately, a college degree is no longer an instant ticket to success. If you want your education to lead to abundant career opportunities, financial independence and fulfillment, then pay close attention to the following 7 strategies.
They are essential for avoiding the College Crisis and ensuring you a spot among the students who actually graduate and love what they do. For most people, college is the biggest investment of their lives. You can guarantee an excellent return on your investment by making these 7 strategies part of your college curriculum.
7 Tips for Getting the Most from a Degree
1. Get the grades you need, then move on to what’s really important,
As difficult as it may be to believe, a high GPA is not directly correlated with post college success. Stanford University published a study in 2003 that revealed GPA ranked 11th on the list of what employers look for when hiring graduates.
Grades are important, but what really matters to employers is your ability to communicate, organize, work in teams … among other skills that simply can’t be developed by memorizing a textbook. Here is the rule of thumb: get the grades you need so you don’t forego opportunities in your field of interest, but once you have that minimum grade level, venture outside the classroom where you can put theory into practice and develop the skills employers really want.
2. Discover what fires you up
The reason 70 percent of graduates are unhappy in their careers is because they speed through college and default into a career without taking time to discover if it’s something they truly enjoy.
Unfortunately, you’re not going to find a Passion 101 class on your college campus. Take time to focus on finding a career you’re passionate about—make it your number one priority! A great place to start is doing a personality profile like Myers Briggs or doing an online career assessment like the free activity found at passionpuzzle.com.
3. Build an all-star team
The best way to predict your future is to envision the future of the five people you spend the most time with. Who are these five people in your life? Do they share your values and support your dreams? Will they be where you want to be 10 years from now? Through your college years you will consciously or unconsciously develop a core group of friends. Be aware of who you spend your time with. If you want all-star results you’re going to need an all-star team to support and encourage you on your journey.
4. Venture beyond the classroom walls
It is extracurricular activities like student clubs, student government, volunteering and sports that allow you to gain the real world skills employers want. These skills cannot be taught in a classroom; you must venture beyond the classroom walls. Avoid the ‘too cool for school’ syndrome. Get involved on campus so you can make the contacts and gain the skills that will put job offers on your plate and great opportunities in your pocket.
5. Re-focus each semester
What do 3 percent of Yale students do that lead them to more success and bigger bank accounts than the other 97 percent combined? The answer is they have clearly defined and written goals. It’s easy to get sucked into the college routine and forget your main reasons for being there. Setting goals each semester will help you re-focus regularly so you stay on track and make the most of your college investment. Goals act as stepping stones that take you from where you are to where you want to be and are the ultimate weapon against procrastination. Set goals each semester and reap the rewards of being in the 3 percent of your graduating class.
6. Get your passport stamped
The benefits you will gain from traveling abroad are too extensive to list. Understanding new cultures and languages, expanding your comfort zone, making friends across the world, having a ton of fun and gaining an enlightened perspective of what you want to do with your life are just a few. You’ll be hard pressed to find someone who spent a semester or two abroad and doesn’t think it was the best experience of his or her life.
The number one regret of graduates is not taking advantage of study abroad programs. Don’t become one of them. Visit the Study Abroad office on your campus or search online to find exciting student exchange opportunities.
7. Do at least three internships
Most students complete one internship. Many will do two internships. But it’s the students who do three or four internships who gain the most valuable work experience, establish excellent contacts and gain crystal clarity on what career they want to pursue. As a student you have a unique four to five year window of opportunity to test drive careers and find one that will get you out of bed in the morning. Doing at least three test drives (internships) will ensure you get on the road to your dream job with the skills needed to accelerate ahead of the pack.
Although the large majority of students who start college will not graduate or enjoy the career it prepares them for, a select few have found a way to make college the best investment of their lives. They clarify what career they want to pursue, develop the real-world skills employers want, build lasting relationships with like-minded friends and stretch their comfort level to include amazing experiences they will cherish forever. These students are the inspiration behind these 7 strategies and are the ones who have proved they work. Use these strategies yourself so can you ensure college is the best investment of your life.
By Andrew Hewitt and Luc d'Abadie, co-authors of The Power of Focus for College Students and educators for Trump University. For more information, visit them at Focused Student
Joining the Frugal Fanny Fanclub
Frugal Fanny saves about 20 percent of her income a month and lives very well, with a frugal twist. Her husband is a stay-at-home dad. She was recently featured at MSN by columnist MP Dunleavey.
Dunleavey has put together a helpful and engaging profile about Fanny's Six Tips. My paraphrase, with a link below:
1) Shun debt as much as possible (nix: credit cards, equity loans, etc,)
2) Remember the real bottom line: use money to enhance your life.
3) Forget deprivation (my personal favorite)
4) Avoid money traps: malls, food courts
5) Think twice about bulk purchases
6) Don’t try to keep pace with your neighbors (frugal, spendthrift or otherwise).
Here’s a link to the full text about Frugal Fanny
Dunleavey has put together a helpful and engaging profile about Fanny's Six Tips. My paraphrase, with a link below:
1) Shun debt as much as possible (nix: credit cards, equity loans, etc,)
2) Remember the real bottom line: use money to enhance your life.
3) Forget deprivation (my personal favorite)
4) Avoid money traps: malls, food courts
5) Think twice about bulk purchases
6) Don’t try to keep pace with your neighbors (frugal, spendthrift or otherwise).
Here’s a link to the full text about Frugal Fanny
Tuesday, September 05, 2006
10 Shady Excuses for My Shopping Spree
Why did I shop? Rationalization: Great Deal: 10 chic pieces for only $65 (total). Reality Check: I should have kept the money in the bank.
Inspired by a recent post from City Girl.
I needed Retail Therapy because:
10. I’m insecure and great clothes make me feel fabulous.
9. I’ve become a fashion victim
8. I’m a realist: There is no Social Security; my pension fund is lean/non-existent. Sooo…I will work forever, but I’ll look darn good!
7. Retailers are silly enough to sell summer clothes at steep discounts in Hot-hot Miami and I’m silly enough to buy soon-to-be outdated clothes.
6. I plan to give my cast-offs to charity.
5. I’m stuck in denial, depression and dirty laundry.
4. I want to teach my children a lesson in prudent shopping and patience. (Hey, I waited a long time for that skirt to drop from $60 to $14.88)
3. I need another reason to drain my anorexic savings account. The broken car wasn't enough.
2. I need a post for my blog and a story for my weekly newspaper column.
1. I want to write a cute story that will get lots of hits.
Inspired by a recent post from City Girl.
I needed Retail Therapy because:
10. I’m insecure and great clothes make me feel fabulous.
9. I’ve become a fashion victim
8. I’m a realist: There is no Social Security; my pension fund is lean/non-existent. Sooo…I will work forever, but I’ll look darn good!
7. Retailers are silly enough to sell summer clothes at steep discounts in Hot-hot Miami and I’m silly enough to buy soon-to-be outdated clothes.
6. I plan to give my cast-offs to charity.
5. I’m stuck in denial, depression and dirty laundry.
4. I want to teach my children a lesson in prudent shopping and patience. (Hey, I waited a long time for that skirt to drop from $60 to $14.88)
3. I need another reason to drain my anorexic savings account. The broken car wasn't enough.
2. I need a post for my blog and a story for my weekly newspaper column.
1. I want to write a cute story that will get lots of hits.
Party at the Carnivals
Take a Carnival break. Adridni hosts the Carnival of Personal Finance.
I loved the summaries (short and significant) provided by the host.
Likewise, Queercents hosts the Festival of Frugality with real attitude and excellent subtitles. I appreciated the hip sections.
It’s my good fortune to appear in those events this week.
I loved the summaries (short and significant) provided by the host.
Likewise, Queercents hosts the Festival of Frugality with real attitude and excellent subtitles. I appreciated the hip sections.
It’s my good fortune to appear in those events this week.
Gas on Tuesdays & Other Tips
. Tuesdays (Midday) and Wednesdays (AM) are the best times for buying cheaper gas, according to the September 3 issue of Parade magazine. Weekly gas prices are lowest in the middle of the week. Also steer clear of buying gas on holidays, weekends and peak travel times.
. Look for the busiest gas stations. Why? They usually charge less and have fresher gas (fewer contaminants in the fuel).
. Avoid fuel stations on toll roads and near highway ramps (higher prices.)
. Don’t “top off” your gas. Danger: spills and waste.
. Know local prices. Even within a small region: lots of price differences
Helpful links
Parade recommended: gasbuddy.com for locating the best prices in a zip code.
Fuel calculator will help you figure out the amount/cost of fuel for your road trip.
This Top 10 list is one of my favorite for saving gas.
. Look for the busiest gas stations. Why? They usually charge less and have fresher gas (fewer contaminants in the fuel).
. Avoid fuel stations on toll roads and near highway ramps (higher prices.)
. Don’t “top off” your gas. Danger: spills and waste.
. Know local prices. Even within a small region: lots of price differences
Helpful links
Parade recommended: gasbuddy.com for locating the best prices in a zip code.
Fuel calculator will help you figure out the amount/cost of fuel for your road trip.
This Top 10 list is one of my favorite for saving gas.
Monday, September 04, 2006
America Idol Star on Frugal Dating
American Idol star Taylor Hicks has frugal tips about dating in a summer issue of People.
When asked about impressing dates during his frugal, pre-fame days, Hicks told the magazine that "by using my head," he was able to impress women for less:
"I think cooking is a whole lot cheaper than going out," Taylor Hicks said. "I have this really great southern spaghetti recipe."
Other facts:
Major spending weakness:
"Shoes. I've probably got 50 pairs."
His most expensive haircut:
$40
Constant frig companion:
"Vitamin D milk....I like drinking a glass of it every day."
Favorite store for clothing:
"Banana Republic."
source: People
When asked about impressing dates during his frugal, pre-fame days, Hicks told the magazine that "by using my head," he was able to impress women for less:
"I think cooking is a whole lot cheaper than going out," Taylor Hicks said. "I have this really great southern spaghetti recipe."
Other facts:
Major spending weakness:
"Shoes. I've probably got 50 pairs."
His most expensive haircut:
$40
Constant frig companion:
"Vitamin D milk....I like drinking a glass of it every day."
Favorite store for clothing:
"Banana Republic."
source: People
Labor Report: Retirement & Economic Decline
"If people continue to retire at 63, they are going to face a severe decline in living standards at retirement for a number of reasons."
–Recent report from the Center for Retirement Research at Boston College.
Bottom line: 63 has been the average age for retirment, but if we delay retirement by only a few years, we can significantly improve our future standard of living from age 63 and on. That's the word from a recent retirement report from Boston College. The report is technical, but full of valuable information about retirement and quality of living.
Four Benefits of Delayed Retirement
“One powerful antidote to reductions in retirement income is to work longer. Working directly
1) increases people’s current income;
2) it avoids the actuarial reduction in Social Security benefits;
3) it allows their 401(k) plans to grow; and
4) it postpones the day when they start drawing down their pension accumulations or other retirement savings...
The question is how much longer people will need to work.”
--Center for Retirement Research
Here’s a link to the short news release from Boston College about early retirment. That link also has a link to the full report.
–Recent report from the Center for Retirement Research at Boston College.
Bottom line: 63 has been the average age for retirment, but if we delay retirement by only a few years, we can significantly improve our future standard of living from age 63 and on. That's the word from a recent retirement report from Boston College. The report is technical, but full of valuable information about retirement and quality of living.
Four Benefits of Delayed Retirement
“One powerful antidote to reductions in retirement income is to work longer. Working directly
1) increases people’s current income;
2) it avoids the actuarial reduction in Social Security benefits;
3) it allows their 401(k) plans to grow; and
4) it postpones the day when they start drawing down their pension accumulations or other retirement savings...
The question is how much longer people will need to work.”
--Center for Retirement Research
Here’s a link to the short news release from Boston College about early retirment. That link also has a link to the full report.
Sunday, September 03, 2006
Frugal Spa Wrap: Favorite Post-its
Here is a roundup of some of the blogs, I enjoyed this past week.
From Free the Drones there was a super piece on retirement savings vs. day-to-day costs.
Making Your Way offered a thoughtful post about how much life insurance do we need?
Single Ma’ featured a super round up of wonderful reading, which included a piece about blog addiction and 15 methods for saving 15 dollars.
City Girl provided some thoughtful insights on retail therapy. Super comments from others as well.
And financial freedumb provided a super Thank You to his best friend.
From Free the Drones there was a super piece on retirement savings vs. day-to-day costs.
Making Your Way offered a thoughtful post about how much life insurance do we need?
Single Ma’ featured a super round up of wonderful reading, which included a piece about blog addiction and 15 methods for saving 15 dollars.
City Girl provided some thoughtful insights on retail therapy. Super comments from others as well.
And financial freedumb provided a super Thank You to his best friend.
Frugal Spa: New Clothes/Thrift Store Prices
Once a year, I buy 90% of my new wardrobe for the entire year. (This does not include gifts and hand-me-downs from family, friends and teenagers.)
Here’s my strategy:
• I go to the end-of-summer sale at Ann Taylor Loft. By September, the store is loaded with steeply discounted summer clothes that are perfect for the year-round warm weather in Miami
• I buy skirts, shirts, jackets at thrift store prices
• I try to avoid trendy items
• Only if needed: I buy hats, bathing suits, sandals and other accessories at various stores: Marshalls, Payless Shoes
Recent savings at Ann Taylor Loft.
Black skirt: full price $60
I paid: $14.88
Black Tee shirt: full price: $19.00
I paid: $6.88
I used this strategy last year, and the tee-shirts (dress-up or dress down) still look crisp and the jackets look great.
Mistakes
I goofed on one skirt that was so cute, but so ill-suited for my figure. Hint: It was unflattering in a way that JLo and Beyonce might understand. (I gave that skirt away.) I also gave away a tee-short that was too big for me.
I’ve also picked up cute sandals at Payless Shoes for under $6. My puppy ate one pair ( I should have locked my closet door ) and the other still looks good.
I’ve also purchased bathing suits at Marshall’s for less than $5 on sale in August.
Here’s my strategy:
• I go to the end-of-summer sale at Ann Taylor Loft. By September, the store is loaded with steeply discounted summer clothes that are perfect for the year-round warm weather in Miami
• I buy skirts, shirts, jackets at thrift store prices
• I try to avoid trendy items
• Only if needed: I buy hats, bathing suits, sandals and other accessories at various stores: Marshalls, Payless Shoes
Recent savings at Ann Taylor Loft.
Black skirt: full price $60
I paid: $14.88
Black Tee shirt: full price: $19.00
I paid: $6.88
I used this strategy last year, and the tee-shirts (dress-up or dress down) still look crisp and the jackets look great.
Mistakes
I goofed on one skirt that was so cute, but so ill-suited for my figure. Hint: It was unflattering in a way that JLo and Beyonce might understand. (I gave that skirt away.) I also gave away a tee-short that was too big for me.
I’ve also picked up cute sandals at Payless Shoes for under $6. My puppy ate one pair ( I should have locked my closet door ) and the other still looks good.
I’ve also purchased bathing suits at Marshall’s for less than $5 on sale in August.
Checking out the Grocery Game
Just imagine $482 extra in your monthly budget. That's the average grocery savings (for a family of four) with ''Teri's List.'' Available on the Internet, ''Teri's List'' is part of The Grocery Game, a weekly shopping list of savings. It's a fee-based service that provides specials in your zip code.
Launched in early 2000 by Teri Gault, a stay-at-home mom, the Grocery Game has developed a national following. Recently featured on the CBS Early Show, Gault is also frequently quoted in many national magazines. During a recent conversation, Gault shared her insights about shopping and savings.
Available at Grocery Game, the service works like this: Registered site members log on for a weekly list of savings in their neighborhood. For instance, using my home zip code, I tapped into promotions at Publix, Winn-Dixie, CVS and Walgreens. Armed with regionalized lists of the best discounts, shoppers can save time and money. What's more, by combining savings with coupons, your potential savings are even greater.
''We do the math for members,'' Gault said.
For $1, The Grocery Game offers a four-week trial service and during that month, some members have saved enough to buy a freezer, she said. After the introductory offer, Gault charges $10 for eight weeks.
Through word-of-mouth, her service has grown from 800 members the first year to 100,000. Gault uses a proprietary system for tracking weekly specials and politely declined to discuss her ''customized software'' when I sought details about her computations. She did, however, offer a few tips for cutting the family food budget:
• Stockpile. ''Build your own store. Buy more than you need at rock-bottom prices,'' Gault said.
• Think small. When combined with coupons, a weekly special in a small package may yield larger savings (relative to a jumbo package) on a per-unit basis.
• Don't ignore convenience dinners. Most people opt for take-out food or restaurant meals because of time constraints and the hurried pace of modern life. For those no-time-to-cook meals, Gault recommends frozen dinners.
Consider the math: As a weekly special, frozen dinners ($1.50 to $2 each) cost less than $10 for four. Comparable restaurant meals would cost $40 to $50. So stock up and save the frozen dinners as a restaurant alternative. And, Gault, said, ``Even single people should be clipping coupons.''
Urban singles are more likely to eat out. Therefore, a stockpile of discounted frozen meals will dramatically reduce expenses.
Launched in early 2000 by Teri Gault, a stay-at-home mom, the Grocery Game has developed a national following. Recently featured on the CBS Early Show, Gault is also frequently quoted in many national magazines. During a recent conversation, Gault shared her insights about shopping and savings.
Available at Grocery Game, the service works like this: Registered site members log on for a weekly list of savings in their neighborhood. For instance, using my home zip code, I tapped into promotions at Publix, Winn-Dixie, CVS and Walgreens. Armed with regionalized lists of the best discounts, shoppers can save time and money. What's more, by combining savings with coupons, your potential savings are even greater.
''We do the math for members,'' Gault said.
For $1, The Grocery Game offers a four-week trial service and during that month, some members have saved enough to buy a freezer, she said. After the introductory offer, Gault charges $10 for eight weeks.
Through word-of-mouth, her service has grown from 800 members the first year to 100,000. Gault uses a proprietary system for tracking weekly specials and politely declined to discuss her ''customized software'' when I sought details about her computations. She did, however, offer a few tips for cutting the family food budget:
• Stockpile. ''Build your own store. Buy more than you need at rock-bottom prices,'' Gault said.
• Think small. When combined with coupons, a weekly special in a small package may yield larger savings (relative to a jumbo package) on a per-unit basis.
• Don't ignore convenience dinners. Most people opt for take-out food or restaurant meals because of time constraints and the hurried pace of modern life. For those no-time-to-cook meals, Gault recommends frozen dinners.
Consider the math: As a weekly special, frozen dinners ($1.50 to $2 each) cost less than $10 for four. Comparable restaurant meals would cost $40 to $50. So stock up and save the frozen dinners as a restaurant alternative. And, Gault, said, ``Even single people should be clipping coupons.''
Urban singles are more likely to eat out. Therefore, a stockpile of discounted frozen meals will dramatically reduce expenses.
Saturday, September 02, 2006
Spa Treat: Free Chocolate
Every spa needs a few treats and here's a chocolate dream. On Friday, while walking on Lincoln Road (an outdoor mall on Miami Beach), I passed by a Ghiradelli chocolate store and received a free square of gourmet chocolate: a yummy piece of dark chocolate filled with caramel.
I asked and found out that all of Ghiradelli shops offer regular free chocolate treats. Most of the stores are in California, but there are locations in other regions of the country.
What's more the company website has free recipes for making your own chocolate candy, including White Chocolate Mousse and Chocolate Truffles.
I'm not much of cook or baker, but the recipes looked easy to me.
And the company is also having chocolate contests at state fairs all over the country. Here is the schedule.
I asked and found out that all of Ghiradelli shops offer regular free chocolate treats. Most of the stores are in California, but there are locations in other regions of the country.
What's more the company website has free recipes for making your own chocolate candy, including White Chocolate Mousse and Chocolate Truffles.
I'm not much of cook or baker, but the recipes looked easy to me.
And the company is also having chocolate contests at state fairs all over the country. Here is the schedule.
Friday, September 01, 2006
Friday Spotlight: Schedule of Guests
Every Friday, I’ll open the Frugal Weekend Spa with a guest columnist. If you want to check-in please contact me for reservations.
Weekend Check-in
Aug. 25 A Blueprint for Financial Prosperity
Sept 1 Frugal for Life
Sept. 8 My 1st Million at 33
Sept. 15 Penny Foolish
Sept 22 No Limits Ladies
Sept. 29 Dual Income No Kids
Oct. 6 Financial Freedumb
To reserve a date: Please leave a comment or contact me at Sharonhr@bellsouth.net
Weekend Check-in
Aug. 25 A Blueprint for Financial Prosperity
Sept 1 Frugal for Life
Sept. 8 My 1st Million at 33
Sept. 15 Penny Foolish
Sept 22 No Limits Ladies
Sept. 29 Dual Income No Kids
Oct. 6 Financial Freedumb
To reserve a date: Please leave a comment or contact me at Sharonhr@bellsouth.net
Friday Spotlight: Frugal For Life
Welcome to the Frugal Weekend Spa. Dawn of Frugal for Life checks in as this week’s Friday Spotlight Guest. Frugal for Life was one of the first frugal blogs that caught my eye. Her no-nonsense posts made lots of sense to me. And her site was filled with great nuggets of information and insight. The following essay captures the essence of her philosophy.
Frugality Equals Time
by Dawn of Frugal For Life
I get comments on occasion that having nice stuff isn't a bad thing: I work hard for my money and I will spend it the way I want to. Frugal living is for fools who want to live a dreary life.
"Ah my friend, you may bake your cake and feel you deserve to eat it too. But what amount of time are you putting into that special cake?" You see it isn't about money many times, it is about time. From the day we are born we want to grow up fast and be an adult and we become adults we want to turn back time or we hold on to it for dear life. Time is more precious than money, more valuable than gold.
So let's take a look at buying the nice stuff with time, bear with me on this. Let's say you wake up next Monday and there is a world-wide passage of a law that you are no longer being paid in cash money but hours in a bank that can be exchanged for stuff. Would you go along with this? Let's say you do….
At the end of the day you have 8 hours in your bank, what will you do with it? If you buy sweater at Saks you may only have 1 hour left to bank for a rainy day. The other option is to go to a thrift store and give them a half- hour of you banked time, and instead get a second hand item that 'looks like' it was bought at Saks.
Let's say you bought the ½ hour sweater and now have 7 ½ hours left in your bank for a rainy. The next day after work, you check your cell phone (that costs you 2 hours bank time a month) and see that the company has put in another 8 hours. Now you have 15 ½ hours of bank time; where as if you had gone to Saks the day before, you would have only had 9 hours of bank time. All in all, you have saved yourself some time by looking at alternatives.
The same is true when you consider the items you buy today, It's not about how much that doggy is in the window, it is about how much of my hard worked time, is that doggy in the window. When you sell something and don't get the price you would like, you feel gypped, you put in hard worked time to pay for that and you feel you should get compensated much better for the time.
Like I said before, frugalness isn't really about money so much, but about the value of our time. If you want the best, then you must be willing to sacrifice the time to get it. Unfortunately, we don't have a lot of time to sacrifice; it's the one thing we can't go into debt on.
~Dawn
Frugality Equals Time
by Dawn of Frugal For Life
I get comments on occasion that having nice stuff isn't a bad thing: I work hard for my money and I will spend it the way I want to. Frugal living is for fools who want to live a dreary life.
"Ah my friend, you may bake your cake and feel you deserve to eat it too. But what amount of time are you putting into that special cake?" You see it isn't about money many times, it is about time. From the day we are born we want to grow up fast and be an adult and we become adults we want to turn back time or we hold on to it for dear life. Time is more precious than money, more valuable than gold.
So let's take a look at buying the nice stuff with time, bear with me on this. Let's say you wake up next Monday and there is a world-wide passage of a law that you are no longer being paid in cash money but hours in a bank that can be exchanged for stuff. Would you go along with this? Let's say you do….
At the end of the day you have 8 hours in your bank, what will you do with it? If you buy sweater at Saks you may only have 1 hour left to bank for a rainy day. The other option is to go to a thrift store and give them a half- hour of you banked time, and instead get a second hand item that 'looks like' it was bought at Saks.
Let's say you bought the ½ hour sweater and now have 7 ½ hours left in your bank for a rainy. The next day after work, you check your cell phone (that costs you 2 hours bank time a month) and see that the company has put in another 8 hours. Now you have 15 ½ hours of bank time; where as if you had gone to Saks the day before, you would have only had 9 hours of bank time. All in all, you have saved yourself some time by looking at alternatives.
The same is true when you consider the items you buy today, It's not about how much that doggy is in the window, it is about how much of my hard worked time, is that doggy in the window. When you sell something and don't get the price you would like, you feel gypped, you put in hard worked time to pay for that and you feel you should get compensated much better for the time.
Like I said before, frugalness isn't really about money so much, but about the value of our time. If you want the best, then you must be willing to sacrifice the time to get it. Unfortunately, we don't have a lot of time to sacrifice; it's the one thing we can't go into debt on.
~Dawn
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