Who do you trust with your money? How do you screen out the duds and scoundrels? Here are a few tips that I found helpful.
The news release is featured below.
"Your Money….Who Can You Trust?
5 ESSENTIAL FACTS YOU NEED TO KNOW BEFORE HIRING A FINANCIAL PROFESSIONAL
It’s a question the vast majority of Americans face: Do you ‘go it alone’ when it comes to planning your financial future, investments, and savings plans; or do you get the help of an ‘expert’ to guide you through the process and ensure you get the most bang for your buck? Increasingly, most of us choose to seek professional help. But to whom do you turn to and trust?
Roland Manarin of Manarin Investment Counsel, named one of America’s top 100 financial advisors by Barron’s magazine, literally has seen it all when it comes to investments and financial planning.
FIVE TIPS FOR CHECKING OUT A PRO
1. A good financial professional will have their bacon cooking with yours. If they feel strongly about an investment, they should have their own money there.
2. Most financial professionals give advice slanted against true wealth-building principles. Most offer advice that is simply a repetition of what they’ve been taught. Successful long-term investment advice is not a “shoot from the hip” proposition. A sound understanding of the big picture–taking into account your personal goals and not the agenda of the financial professional–is essential.
3. Not all financial professionals are good investors. Most often, they make their money by selling you something; not by being successful investors themselves.
4. Be aware of big-name firm representatives. Most often, the big name firms only allow their salespeople to sell you products that the firm puts on its shelf. You want someone who can offer you anything on the planet.
5. Ignore salespeople; look for teachers. When considering a financial professional, ask yourself, “Is this person trying to teach me something or trying to sell me something?” The majority of financial professionals sell you what you buy based on your greed and fear. Look for someone who is willing to teach you, regardless of whether you invest with them or not.
Roland Manarin is president of Manarin Investment Counsel, Ltd. and portfolio manager of the Lifetime Achievement Fund. He is the featured host of the radio talk show It’s Your Money and creator of the Manarin Wealth-Building Seminar Series which he has presented since 1977 teaching investors to ignore conventional wisdom and practice true wealth-building strategies.
A renowned financial speaker, Manarin each year presents seminars and keynotes to businesses, institutions, universities, and investment conferences." Manarin's website.
Monday, August 14, 2006
Post-its: A Blog Roundup
Here are a few blog posts that caught my eye last week:
Cal Girl had a thoughtful piece about spotting errors on store receipts.
Momma & the Boys (living on a budget) takes you on a short tour of her should I buy the new couch debate.
Five Cent Nickel poses an interesting question: What would you do with a lot of bricks?
Seattle Simplicity has a thoughtful post about the percentage of money that actually goes into savings.
Frugal Homemaker has an inspiring post about getting organized and the expected frugal payoff.
Hey and check out Sharon's Muffin Calculator from Hugh Chou.
Cal Girl had a thoughtful piece about spotting errors on store receipts.
Momma & the Boys (living on a budget) takes you on a short tour of her should I buy the new couch debate.
Five Cent Nickel poses an interesting question: What would you do with a lot of bricks?
Seattle Simplicity has a thoughtful post about the percentage of money that actually goes into savings.
Frugal Homemaker has an inspiring post about getting organized and the expected frugal payoff.
Hey and check out Sharon's Muffin Calculator from Hugh Chou.
Sunday, August 13, 2006
The Muffin Calculator from Hugh Chou
Hugh Chou, a systems network administrator at Washington University in St. Louis, is a hero in many financial circles for his free online devices: The ''Coffee Calculator,'' ''the Lunch Savings Calculator'' and the ``Gas Guzzling Calculator.''
Here's a link to Sharon's Muffin Calculator, designed by Hugh for this blog.
He calculates how much our little expenses cost on an annualized basis and how much we would earn if those funds were stashed in a long-term investment account.
I recently chatted with Chou and learned a lot. Ten years ago, he created a website that contained an online mortgage loan calculator. That service led to requests for more calculators from consumers and mortgage companies.
His calculators -- dozens of them -- are featured on his site, www.Hughchou.org. Click on Mortgage and Other Calculators.
Here's how the coffee calculator works: Plug in the cost of a cup of coffee, plus tax and your regular coffee-break snack. Input the number of cups you consume each working day. Based on $3 per day over a typical work year of about 250 days, the coffee calculator figures that your coffee break costs $750 a year.
Homemade coffee, Chou calculates, would cost only about 25 cents a day and over the period of a year, home-brewed coffee would save you $687. If you invest that amount in a 6 percent investment vehicle, and continue to do so on an annual basis, you would amass $9,061.80 in 10 years.
Chou's calculators enable you to plug in various dollar amounts, numbers of coffee cups and even the investment yield.
''I've always been pretty frugal,'' Chou told me. ''I've always brought my own lunch.'' Watching colleagues buying lunch each day led to Chou's Lunch Savings Calculator. The daily cost of a homemade lunch ($1.50) when compared to $5 takeout produces a savings of $875 a year. Over a 10-year period, skipping the $5 daily takeout could generate $11,000, based on a 5 percent annual yield.
Chou's Gas Guzzler Calculator lets you compare how much you'd save if your next car merely sips gas instead of guzzling it. You can plug in your car's miles per gallon and your commuting distance.
By the way, Chou donates a hefty portion of the proceeds from his calculators to charity. A portion of the donations also support his free site.
Here is his donations page:
Here's a link to Sharon's Muffin Calculator, designed by Hugh for this blog.
He calculates how much our little expenses cost on an annualized basis and how much we would earn if those funds were stashed in a long-term investment account.
I recently chatted with Chou and learned a lot. Ten years ago, he created a website that contained an online mortgage loan calculator. That service led to requests for more calculators from consumers and mortgage companies.
His calculators -- dozens of them -- are featured on his site, www.Hughchou.org. Click on Mortgage and Other Calculators.
Here's how the coffee calculator works: Plug in the cost of a cup of coffee, plus tax and your regular coffee-break snack. Input the number of cups you consume each working day. Based on $3 per day over a typical work year of about 250 days, the coffee calculator figures that your coffee break costs $750 a year.
Homemade coffee, Chou calculates, would cost only about 25 cents a day and over the period of a year, home-brewed coffee would save you $687. If you invest that amount in a 6 percent investment vehicle, and continue to do so on an annual basis, you would amass $9,061.80 in 10 years.
Chou's calculators enable you to plug in various dollar amounts, numbers of coffee cups and even the investment yield.
''I've always been pretty frugal,'' Chou told me. ''I've always brought my own lunch.'' Watching colleagues buying lunch each day led to Chou's Lunch Savings Calculator. The daily cost of a homemade lunch ($1.50) when compared to $5 takeout produces a savings of $875 a year. Over a 10-year period, skipping the $5 daily takeout could generate $11,000, based on a 5 percent annual yield.
Chou's Gas Guzzler Calculator lets you compare how much you'd save if your next car merely sips gas instead of guzzling it. You can plug in your car's miles per gallon and your commuting distance.
By the way, Chou donates a hefty portion of the proceeds from his calculators to charity. A portion of the donations also support his free site.
Here is his donations page:
Friday, August 11, 2006
Shrinking the Dollar: A Fiscal Check-up
I call it fiscal shrinking.
A credit card company and two psychology mavens have created a quiz that that will analyze your relationship with money.
Here's the news release:
"What’s Your Money Personality?
From Cheapskate to Spendthrift, Visa and Financial Psychology Experts Develop Quiz to Help Consumers Understand Their Relationship to Money
"Visa USA and nationally recognized financial psychology experts, Jon and Eileen Gallo, today launched a new interactive online “Money Personality” quiz to help consumers better understand their own individual approach to acquiring, using and managing money.
As part of this joint effort, Visa and the Gallos have created an interactive, online quiz that helps consumers assess and measure different aspects of their money styles in the areas of acquisition, use and management.
Practical Money Skills for Life
The tool, comprised of three interactive rulers that each represents these three different skill areas, is offered as part of Practical Money Skills for Life , a free, award-winning and comprehensive money management program provided by Visa. It can also be accessed at the Gallo’s website.
In the quiz, consumers are first asked to select a phrase from a variety of choices that best fits their money personality in each of the three areas of money acquisition, use and management.
Based on their choices, users can find out how their current relationship with money might be described. For example, one can be insatiable when it comes to acquiring money, a miser when it comes to using it and chaotic when it comes to managing their finances. Each one of the money relationship descriptions are then matched to corresponding money management tips and resources offered on the Practical Money Skills for Life Web site.
Silver Spoon Kids
Together, the Gallos are the coauthors of Silver Spoon Kids and The Financially Intelligent Parent. Additionally, they have developed the concept that everyone develops a unique relationship with money in three separate areas.
Practical Money Skills for Life (www.PracticalMoneySkills.com) is an award-winning, teacher tested and teacher approved financial education program. It is available for free, in English, Spanish and Chinese and is designed for teachers, students, parents and consumers.
Free Source for Teachers
This free educational resource provides teachers with lesson plans (kindergarten-college) mapped to their state education requirements, as well as teacher guides, overheads, instructional videos and CD-ROMs. For students, there are interactive games and calculators designed to teach financial responsibility and important concepts such as earning, saving and budgeting money.
“Through the years we have discovered that closely studying how individuals relate to money is a key to achieving a more secure financial life,” said money psychotherapist Eileen Gallo, who works together as a team with her husband Jon, an estate-planning attorney.
“The online tools we have worked with Visa to create will help consumers identify their relationships with money and based on those relationships give them free access to practical resources to make grabbing hold of their financial futures a little easier,” said Gallo.
About Eileen Gallo, Ph.D.
Eileen is a licensed psychotherapist in private practice in Los Angeles, where she helps individuals and families work with the psychological and emotional issues related to money and families. Her doctoral dissertation examined the psychological impact of sudden wealth.
About Jon Gallo, J.D.
Jon chairs the Family Wealth Practice Group of a major Los Angeles law firm. He is a prolific author of more than 70 treatises and articles on estate planning and, like Eileen, is a regular columnist for the Journal of Financial Planning.
Together, they co-chair the Committee on the Psychological and Emotional Issues of Estate Planning of the American Bar Association. Through the Gallo Institute, (a non-profit organization), they provide educational and consulting services for families and financial advisors on the issues of families, children and money.
About Visa
Visa USA is the nation's leading payment brand and largest payment system, enabling banks to provide their consumers and business customers with a wide variety of payment alternatives tailored to meet their evolving needs."
A credit card company and two psychology mavens have created a quiz that that will analyze your relationship with money.
Here's the news release:
"What’s Your Money Personality?
From Cheapskate to Spendthrift, Visa and Financial Psychology Experts Develop Quiz to Help Consumers Understand Their Relationship to Money
"Visa USA and nationally recognized financial psychology experts, Jon and Eileen Gallo, today launched a new interactive online “Money Personality” quiz to help consumers better understand their own individual approach to acquiring, using and managing money.
As part of this joint effort, Visa and the Gallos have created an interactive, online quiz that helps consumers assess and measure different aspects of their money styles in the areas of acquisition, use and management.
Practical Money Skills for Life
The tool, comprised of three interactive rulers that each represents these three different skill areas, is offered as part of Practical Money Skills for Life , a free, award-winning and comprehensive money management program provided by Visa. It can also be accessed at the Gallo’s website.
In the quiz, consumers are first asked to select a phrase from a variety of choices that best fits their money personality in each of the three areas of money acquisition, use and management.
Based on their choices, users can find out how their current relationship with money might be described. For example, one can be insatiable when it comes to acquiring money, a miser when it comes to using it and chaotic when it comes to managing their finances. Each one of the money relationship descriptions are then matched to corresponding money management tips and resources offered on the Practical Money Skills for Life Web site.
Silver Spoon Kids
Together, the Gallos are the coauthors of Silver Spoon Kids and The Financially Intelligent Parent. Additionally, they have developed the concept that everyone develops a unique relationship with money in three separate areas.
Practical Money Skills for Life (www.PracticalMoneySkills.com) is an award-winning, teacher tested and teacher approved financial education program. It is available for free, in English, Spanish and Chinese and is designed for teachers, students, parents and consumers.
Free Source for Teachers
This free educational resource provides teachers with lesson plans (kindergarten-college) mapped to their state education requirements, as well as teacher guides, overheads, instructional videos and CD-ROMs. For students, there are interactive games and calculators designed to teach financial responsibility and important concepts such as earning, saving and budgeting money.
“Through the years we have discovered that closely studying how individuals relate to money is a key to achieving a more secure financial life,” said money psychotherapist Eileen Gallo, who works together as a team with her husband Jon, an estate-planning attorney.
“The online tools we have worked with Visa to create will help consumers identify their relationships with money and based on those relationships give them free access to practical resources to make grabbing hold of their financial futures a little easier,” said Gallo.
About Eileen Gallo, Ph.D.
Eileen is a licensed psychotherapist in private practice in Los Angeles, where she helps individuals and families work with the psychological and emotional issues related to money and families. Her doctoral dissertation examined the psychological impact of sudden wealth.
About Jon Gallo, J.D.
Jon chairs the Family Wealth Practice Group of a major Los Angeles law firm. He is a prolific author of more than 70 treatises and articles on estate planning and, like Eileen, is a regular columnist for the Journal of Financial Planning.
Together, they co-chair the Committee on the Psychological and Emotional Issues of Estate Planning of the American Bar Association. Through the Gallo Institute, (a non-profit organization), they provide educational and consulting services for families and financial advisors on the issues of families, children and money.
About Visa
Visa USA is the nation's leading payment brand and largest payment system, enabling banks to provide their consumers and business customers with a wide variety of payment alternatives tailored to meet their evolving needs."
An Evacuation Kit for Your Money
There's been a lot of info about three-day emergency kits --water, canned goods, batteries-- for our homes, cars and offices. But what about a backup plan for our money?
Bank of America has a few suggestions. Of course, there's an emphasis on some of their online services, but the release has some good insights.
Living in a hurricane zone, emergency preps are apart of the household drill. Last year, we were smacked around by Hurricanes Katrina, Rita and Wilma. Other areas of the country are also hit by floods, quakes, wildfires & turnadoes.
This release -- featured below -- is thoughtful:
"Simple Tips To Help Households Prepare For Evacuations
"By taking a few precautions beforehand, however, consumers can avoid additional stress that comes with having to temporarily leave their homes. With that in mind, Bank of America offers the following tips to help households prepare for evacuations or emergencies:
#1
Know Before You Go – Centralize All Your Key Personal Financial Information
o Financial Institutions: Compile a list for each financial institution you have accounts and loans with, including credit card issuers
o Local Offices: If you have a designated location you plan to evacuate to, include the address of local offices, which can typically be found online.
o Secure Information: For security reasons, you do not need to include account numbers. Companies should be able to access your information with alternative information only you can provide.
#2
Leverage Technology to Access and Protect Your Personal Finances
o Online Bill Pay: By establishing online or electronic bill pay, consumers don’t have to worry about bills reaching them through the mail, particularly if property damage keeps them from returning home.
o Online Account Access: If you bank and pay bills online, you can access your accounts, including previous statements, from any location with internet access.
o Direct Deposit: Set up direct deposit with your employer to ensure your pay will automatically be deposited to your account.
o Financial Records Disk: Copy any financial records stored on your computer to a diskette or flash drive that you can store in a safe deposit box.
#3
Make a List of Important Names and Telephone Numbers
o Contact information for your mortgage service and/or home equity lender.
o Compile a list of home repair services you use such as roofers or tree removal companies. Check with your insurance company to see if it requires you to use pre-approved vendors.
o Additional contacts to consider including:
o Relatives
o Physicians
o Employer help-line
o Accountant
o Attorney
o Bank
o Credit card company
o Home, auto and health insurance contacts and policy numbers
o Home repair services/contractors
o Investment advisor
o Mortgage service
o Tax advisor
o Utility companies (phone, power, cell phone provider, cable, internet service provider)
#4
Pack a Financial “Go Bag”
o Include your contact lists along with photos of the interior and exterior of your home and an inventory of valuable contents.
o Have extra cash on hand, including small bills and coins. In addition to ample emergency savings, you may want to ensure you have credit available on a credit card for emergencies.
o Information you would need in applying for a loan, such as recent pay stubs and recent tax returns, can be beneficial to have with you.
Bank of America has a few suggestions. Of course, there's an emphasis on some of their online services, but the release has some good insights.
Living in a hurricane zone, emergency preps are apart of the household drill. Last year, we were smacked around by Hurricanes Katrina, Rita and Wilma. Other areas of the country are also hit by floods, quakes, wildfires & turnadoes.
This release -- featured below -- is thoughtful:
"Simple Tips To Help Households Prepare For Evacuations
"By taking a few precautions beforehand, however, consumers can avoid additional stress that comes with having to temporarily leave their homes. With that in mind, Bank of America offers the following tips to help households prepare for evacuations or emergencies:
#1
Know Before You Go – Centralize All Your Key Personal Financial Information
o Financial Institutions: Compile a list for each financial institution you have accounts and loans with, including credit card issuers
o Local Offices: If you have a designated location you plan to evacuate to, include the address of local offices, which can typically be found online.
o Secure Information: For security reasons, you do not need to include account numbers. Companies should be able to access your information with alternative information only you can provide.
#2
Leverage Technology to Access and Protect Your Personal Finances
o Online Bill Pay: By establishing online or electronic bill pay, consumers don’t have to worry about bills reaching them through the mail, particularly if property damage keeps them from returning home.
o Online Account Access: If you bank and pay bills online, you can access your accounts, including previous statements, from any location with internet access.
o Direct Deposit: Set up direct deposit with your employer to ensure your pay will automatically be deposited to your account.
o Financial Records Disk: Copy any financial records stored on your computer to a diskette or flash drive that you can store in a safe deposit box.
#3
Make a List of Important Names and Telephone Numbers
o Contact information for your mortgage service and/or home equity lender.
o Compile a list of home repair services you use such as roofers or tree removal companies. Check with your insurance company to see if it requires you to use pre-approved vendors.
o Additional contacts to consider including:
o Relatives
o Physicians
o Employer help-line
o Accountant
o Attorney
o Bank
o Credit card company
o Home, auto and health insurance contacts and policy numbers
o Home repair services/contractors
o Investment advisor
o Mortgage service
o Tax advisor
o Utility companies (phone, power, cell phone provider, cable, internet service provider)
#4
Pack a Financial “Go Bag”
o Include your contact lists along with photos of the interior and exterior of your home and an inventory of valuable contents.
o Have extra cash on hand, including small bills and coins. In addition to ample emergency savings, you may want to ensure you have credit available on a credit card for emergencies.
o Information you would need in applying for a loan, such as recent pay stubs and recent tax returns, can be beneficial to have with you.
Thursday, August 10, 2006
Post-Thanksgiving Shopping in August!
December shopping before LABOR DAY? Does that sound absurd?
Actually, some of my frugal friends love to do their winter holiday shopping during the summer months. Lulu, for example, likes to save money by shopping year-round for presents.
In that fashion, she can stretch out her holiday budget and purchase gifts as the mood and the price move her.
Lulu stockpiles gifts in the garage or a closet and really, really tries to focus on finding the right gift for each person on her list.
She's not alone. That idea was recently touted in a current issue of a magazine. [I will look for the publication.]
Back-to-school promotions -- especially with the tax holidays in different states -- represent a great time to pick up trinkets, clothes, and paper goods for less. I also like the end-of-season sales that arrive with August.
I once purchased a cute jacket from Ann Taylor Loft for $15....reduced down from $105. I wear the jacket often and constantly receive compliments on the item.
So forget Black Friday! Let other people fight the Post-Thanksgiving crowds. I'll take the leftovers.
Actually, some of my frugal friends love to do their winter holiday shopping during the summer months. Lulu, for example, likes to save money by shopping year-round for presents.
In that fashion, she can stretch out her holiday budget and purchase gifts as the mood and the price move her.
Lulu stockpiles gifts in the garage or a closet and really, really tries to focus on finding the right gift for each person on her list.
She's not alone. That idea was recently touted in a current issue of a magazine. [I will look for the publication.]
Back-to-school promotions -- especially with the tax holidays in different states -- represent a great time to pick up trinkets, clothes, and paper goods for less. I also like the end-of-season sales that arrive with August.
I once purchased a cute jacket from Ann Taylor Loft for $15....reduced down from $105. I wear the jacket often and constantly receive compliments on the item.
So forget Black Friday! Let other people fight the Post-Thanksgiving crowds. I'll take the leftovers.
Frugal & Green School Supplies
Isn't there a cheaper and more eco-friendly way to obtain back to school supplies? The Center for American Dream has a few ideas that are frugal and green.
Most of the ideas are cool. My kids, however, may not go for the beach bag/backpack idea, but the other tips ring true.
Here is the news release:
Getting Ready for Back to School
"It’s that time of year again…time to rally the kids and head off to your local mega-mart to stock up on Back to School supplies. According to the National Retail Federation, the average American family is expected to spend $527.08 getting ready this year. But there are cheaper ways to prepare your family for the new school year. Here are a few tips for making the most of your financial resources, many of which will not cause you to look any farther than your very own home.
Backpacks
You could spend a lot of money to buy new backpacks with special compartments for iPods and other bells and whistles, but odds are you don’t need to buy anything at all to meet your children’s classroom needs. Do you have an oversized beach bag that will accommodate several textbooks and notebooks at a time? What about a roomy canvas tote bag or reusable grocery bag?
Yard Sales/Thrift Stores/Lifetime Warrantees
Even if you don’t have any appropriate bags already, you can often find these kinds of items very cheaply at thrift stores and yard sales—or tucked away in a closet. And did you know that some companies, such as Jansport, offer lifetime warrantees on their products? Even if an old backpack no longer zips correctly or has rips or tears, you can often send it back to the company for repair or replacement—at absolutely no charge.
If you do need to buy new, look for bags that are well-made and durable from a reputable company—preferably with a warrantee. Buying fewer products over the course of a lifetime is essential to saving money, and a good pack should last you for years and years.
Clothing
As noted in many places, thrift stores and yard sales are the best places for one-stop shopping on a budget, and this is probably most apparent when it comes to clothes. Kids grow out of their clothes quickly, and you can usually find all sorts of gently used sweaters, pants, and accessories from second-hand sources.
But because kids come in all shapes and sizes, it can be hard to find a good fit. Never underestimate the power of hand-me- downs among siblings, or even among friends. Clothing swaps and hand-me-downs are a great way not only to save money, but to extend the life of resources that have already been manufactured.
Computers
Truly green computers are hard to come by, but refurbished models are both environmentally friendly and will save you money. To find used computers in your area, try Craigslist, or contact computer manufacturers like Dell, which refurbishes and resells its products through Dell Outlet. (Check with your computer manufacturer for recycling of old computer equipment, too).
But perhaps the cheapest strategy is to determine what your family’s computer needs are. Younger children, who do not do a lot of word processing or internet research, are probably best off sharing a family computer. It might not be until college, when your child moves out, that it will be important to consider getting your child his or her own computer. Even then, many campuses have stellar computer facilities with flexible hours and on-campus tech-support.
Paper
If there’s one thing most of us have too much of in our lives, it’s paper. Why buy a new notebook or a new ream of copy paper when most of us are literally swimming in perfectly usable paper? The catch is that most of it—indeed, most of the paper that goes into recycling bins and trash cans all around the country—has already been used. But just on one side.
Recycled Binders
Get a few looseleaf binders and a three-hole punch (odds are you already have these items). Then go through your mail. Are you getting credit card offers and magazine renewal notices that are only printed on one side of each sheet? Do your kids have old handouts from last year still lying around? If anyone in your family works in an office setting, he or she can usually come home with mountains of blank-backed pieces of paper from the recycling bins. All of this paper is 100% post-consumer recycled paper—the greenest you can get—and it won’t cost you a dime.
For recycled paper notebooks, punch holes in the paper and put them in a handy reusable binder. For recycled copy paper... don’t punch holes in it. And when you or your kids print out documents, remember to always print double-sided so you get the most use out of your paper. It is also a good idea keep a supply of one-sided paper next to the printer for printing essay drafts and internet articles.
Recycled Cereal Box Notebox
Don’t like looseleaf notebooks? Check out the cool recycled cereal box notebooks some students in Michigan are making. (You can contact them for instructions to make your own.). Kids can pick their favorite cereals and make notebooks that are truly unique. It is a great idea for a rainy day project that is inexpensive and will (temporarily) wrench the kids away from the TV.
Pens/Pencils
How often do you actually use up the ink in your pens or wear your pencil down so far it no longer fits in the sharpener? Most of us buy this stuff all the time because we can’t keep track what we have. Invest in a reusable pencil case to keep writing utensils handy in the front of a recycled paper looseleaf notebook, or keep it simple with a Ziploc bag.
Bedroom and Decorating
If you have kids going off to college, don’t forget to check out the used furnishing offerings. Odds are you won’t find everything you need at the thrift, but you can find a lot of second-hand furniture at good prices there. Another excellent way to find more specific items is to search for them in the city nearest you at Craigslist (used, for sale) or Freecycle (used, yours for the taking)."
For more tips and statistics on back to school spending, visit New Dream
Most of the ideas are cool. My kids, however, may not go for the beach bag/backpack idea, but the other tips ring true.
Here is the news release:
Getting Ready for Back to School
"It’s that time of year again…time to rally the kids and head off to your local mega-mart to stock up on Back to School supplies. According to the National Retail Federation, the average American family is expected to spend $527.08 getting ready this year. But there are cheaper ways to prepare your family for the new school year. Here are a few tips for making the most of your financial resources, many of which will not cause you to look any farther than your very own home.
Backpacks
You could spend a lot of money to buy new backpacks with special compartments for iPods and other bells and whistles, but odds are you don’t need to buy anything at all to meet your children’s classroom needs. Do you have an oversized beach bag that will accommodate several textbooks and notebooks at a time? What about a roomy canvas tote bag or reusable grocery bag?
Yard Sales/Thrift Stores/Lifetime Warrantees
Even if you don’t have any appropriate bags already, you can often find these kinds of items very cheaply at thrift stores and yard sales—or tucked away in a closet. And did you know that some companies, such as Jansport, offer lifetime warrantees on their products? Even if an old backpack no longer zips correctly or has rips or tears, you can often send it back to the company for repair or replacement—at absolutely no charge.
If you do need to buy new, look for bags that are well-made and durable from a reputable company—preferably with a warrantee. Buying fewer products over the course of a lifetime is essential to saving money, and a good pack should last you for years and years.
Clothing
As noted in many places, thrift stores and yard sales are the best places for one-stop shopping on a budget, and this is probably most apparent when it comes to clothes. Kids grow out of their clothes quickly, and you can usually find all sorts of gently used sweaters, pants, and accessories from second-hand sources.
But because kids come in all shapes and sizes, it can be hard to find a good fit. Never underestimate the power of hand-me- downs among siblings, or even among friends. Clothing swaps and hand-me-downs are a great way not only to save money, but to extend the life of resources that have already been manufactured.
Computers
Truly green computers are hard to come by, but refurbished models are both environmentally friendly and will save you money. To find used computers in your area, try Craigslist, or contact computer manufacturers like Dell, which refurbishes and resells its products through Dell Outlet. (Check with your computer manufacturer for recycling of old computer equipment, too).
But perhaps the cheapest strategy is to determine what your family’s computer needs are. Younger children, who do not do a lot of word processing or internet research, are probably best off sharing a family computer. It might not be until college, when your child moves out, that it will be important to consider getting your child his or her own computer. Even then, many campuses have stellar computer facilities with flexible hours and on-campus tech-support.
Paper
If there’s one thing most of us have too much of in our lives, it’s paper. Why buy a new notebook or a new ream of copy paper when most of us are literally swimming in perfectly usable paper? The catch is that most of it—indeed, most of the paper that goes into recycling bins and trash cans all around the country—has already been used. But just on one side.
Recycled Binders
Get a few looseleaf binders and a three-hole punch (odds are you already have these items). Then go through your mail. Are you getting credit card offers and magazine renewal notices that are only printed on one side of each sheet? Do your kids have old handouts from last year still lying around? If anyone in your family works in an office setting, he or she can usually come home with mountains of blank-backed pieces of paper from the recycling bins. All of this paper is 100% post-consumer recycled paper—the greenest you can get—and it won’t cost you a dime.
For recycled paper notebooks, punch holes in the paper and put them in a handy reusable binder. For recycled copy paper... don’t punch holes in it. And when you or your kids print out documents, remember to always print double-sided so you get the most use out of your paper. It is also a good idea keep a supply of one-sided paper next to the printer for printing essay drafts and internet articles.
Recycled Cereal Box Notebox
Don’t like looseleaf notebooks? Check out the cool recycled cereal box notebooks some students in Michigan are making. (You can contact them for instructions to make your own.). Kids can pick their favorite cereals and make notebooks that are truly unique. It is a great idea for a rainy day project that is inexpensive and will (temporarily) wrench the kids away from the TV.
Pens/Pencils
How often do you actually use up the ink in your pens or wear your pencil down so far it no longer fits in the sharpener? Most of us buy this stuff all the time because we can’t keep track what we have. Invest in a reusable pencil case to keep writing utensils handy in the front of a recycled paper looseleaf notebook, or keep it simple with a Ziploc bag.
Bedroom and Decorating
If you have kids going off to college, don’t forget to check out the used furnishing offerings. Odds are you won’t find everything you need at the thrift, but you can find a lot of second-hand furniture at good prices there. Another excellent way to find more specific items is to search for them in the city nearest you at Craigslist (used, for sale) or Freecycle (used, yours for the taking)."
For more tips and statistics on back to school spending, visit New Dream
Wednesday, August 09, 2006
Moms: Unhappy With Plastic Rewards Programs?
Do we really take advantage of credit card rewards programs? Apparently not, according to this survey:
The actual text (edited) is below:
"Get the Most Out of Your Rewards Credit Card
While moms have rewards credit cards, many are not redeeming the rewards they have earned, according to the "All About Rewards" survey of moms nationwide, conducted by Harris Interactive and commissioned by the Disney Rewards(R) Visa(R) Card from Chase, a leading rewards credit card for families.
Reaping the Rewards
The "All About Rewards" survey found that 53 percent of moms with a
rewards credit card have not redeemed their points.
The survey finds that 55 percent of moms haven't redeemed their rewards because they feel they haven't earned enough points for something they want, while 41 percent are
waiting for the right time to redeem them. Additionally, 31 percent are unsure
of the rewards their credit card offers.
What Moms are Saying
The "All About Rewards" survey uncovered several other interesting findings
about moms who have a rewards card:
-- 41 percent of moms say they are dissatisfied with their rewards card
program
-- 34 percent of moms say their credit card does not offer the types of
rewards their family wants
-- 32 percent are frustrated by the restrictions their card carries (e.g. black-
out dates, limited availability to use rewards for flights and hotel rooms, high
point thresholds)
"Many families value variety and flexibility when it comes to rewards card
programs, which is why we designed the Disney Rewards Visa Card with no
block-out dates and no capacity restrictions that can be used towards just
about everything Disney from toys, DVDs and books to Disney Park tickets,
hotel stays, dining and shopping," said Jenny Cohen, vice president of
consumer relationship marketing for The Walt Disney Company.
For more information on the "All About Rewards" survey or the Disney
Rewards Visa Card, visit Disney Rewards Visa.
About the Survey
This survey was conducted online by Harris Interactive on behalf of Disney
Credit Card Services among 539 women (aged 18 and over), within the United States, who are the parent or legal guardian of a child under 18, of whom 223 have a credit card that gives rewards based on spending."
The actual text (edited) is below:
"Get the Most Out of Your Rewards Credit Card
While moms have rewards credit cards, many are not redeeming the rewards they have earned, according to the "All About Rewards" survey of moms nationwide, conducted by Harris Interactive and commissioned by the Disney Rewards(R) Visa(R) Card from Chase, a leading rewards credit card for families.
Reaping the Rewards
The "All About Rewards" survey found that 53 percent of moms with a
rewards credit card have not redeemed their points.
The survey finds that 55 percent of moms haven't redeemed their rewards because they feel they haven't earned enough points for something they want, while 41 percent are
waiting for the right time to redeem them. Additionally, 31 percent are unsure
of the rewards their credit card offers.
What Moms are Saying
The "All About Rewards" survey uncovered several other interesting findings
about moms who have a rewards card:
-- 41 percent of moms say they are dissatisfied with their rewards card
program
-- 34 percent of moms say their credit card does not offer the types of
rewards their family wants
-- 32 percent are frustrated by the restrictions their card carries (e.g. black-
out dates, limited availability to use rewards for flights and hotel rooms, high
point thresholds)
"Many families value variety and flexibility when it comes to rewards card
programs, which is why we designed the Disney Rewards Visa Card with no
block-out dates and no capacity restrictions that can be used towards just
about everything Disney from toys, DVDs and books to Disney Park tickets,
hotel stays, dining and shopping," said Jenny Cohen, vice president of
consumer relationship marketing for The Walt Disney Company.
For more information on the "All About Rewards" survey or the Disney
Rewards Visa Card, visit Disney Rewards Visa.
About the Survey
This survey was conducted online by Harris Interactive on behalf of Disney
Credit Card Services among 539 women (aged 18 and over), within the United States, who are the parent or legal guardian of a child under 18, of whom 223 have a credit card that gives rewards based on spending."
Travel Cheapometer from Cheaptickets
Wanted: a mini-vacation before or around Labor Day. Requirements: short, but cheap two/three-day excursion.
Therefore, I was really interested in a travel release from CheapTickets.com
I went to the company's website and discovered that Cheaptickets is part of a publicly traded company on the New York Stock Exchange. The company also partners with Priceline.com
On the Cheaptickets website two features caught my eye
1) The "Cheap of the Week" section
2)And the Last-minute Deals section....
Anyway: Here is the news release:
"CheapTickets.com Introduces New Pricing Guide
The Cheapometer is a new monthly pricing guide that analyzes where vacationers can get the most travel for their buck in the U.S. and abroad. The Cheapometer assesses and compares the cost of hotel rates, airfares and vacation packages vs. the average cost here in the U.S.
CheapTickets Travel Cheapometer Volume 1: European Hotel Analysis
The debut CheapTickets Travel Cheapometer provides an analysis of how the U.S. dollar stacks up in various European cities. This European Hotel Cheapometer calculates the average daily rate (ADR) of a 4-star hotel room in the United States compared to the ADR of 4-star hotel rooms in ten popular European travel destinations.
Average Daily Rate for a 4-Star Hotel
in the U.S. $158.39
in Poland $100.54
-37% (Percentage Difference relative to the U.S.)
in Germany $101.68
-36%
in Spain
$113.82
-28%
in Czech Republic
$125.33
-21%
in Austria
$126.84
-20%
in Greece
$127.70
-19%
in Italy
$144.51
-9%
in Netherlands
$144.76
-9%
in UK
$148.57
-6%
in Ireland
$151.00
-5%
Additional CheapTickets.com Travel Survey Findings
“The cost of a hotel room can be one of the biggest expenses during travel,” said Marita Hudson of CheapTickets.com’s Cheap Squad. “A less expensive hotel room is an indicator of how pricey the rest of the country or city might be during your stay.”
In addition to the finding mentioned earlier, other important survey information to note includes:
75% of Americans plan to take a vacation in the next 90 days
82% of travelers responded “No,” when asked if current economic conditions were impacting their vacation and travel plans over the next 90 days.
59% of Americans have plans to take an international vacation over the next 12 months.
Younger travelers are more likely to consider the value of the dollar in making travel plans.
46% of travelers aged 19-34
35% of travelers aged 35-54
30% of travelers aged 55+
Survey Methodology
This study was fielded by CheapTickets.com from July 14 -17, 2006 via the Internet using MarketTool’s online survey panel. 583 U.S. adults aged 18 or older were surveyed. All survey participants had traveled for leisure in the past twelve months and had taken at least one international trip in the past twelve months.
About CheapTickets
CheapTickets is a leading seller of discounted leisure travel products online through its Web site, www.cheaptickets.com.
CheapTickets provides consumers access to one of the largest selections of low fares, accommodations, customizable vacation packages, cruises, rental cars, condo rentals, and last-minute trips. Founded in 1986, CheapTickets is part of the Consumer Travel Americas group within Cendant's Travel Distribution Services Division.
Cendant Corporation's (NYSE: CD) Travel Distribution Services Division is one of the world's largest and most geographically diverse collections of travel brands and distribution businesses. The division, employing nearly 5,000 people in more than 116 countries, includes: .... leading online travel intermediaries (Orbitz, CheapTickets, Lodging.com, HotelClub.com and RatesToGo.com); Shepherd Systems, an airline market intelligence company; Travelwire, an international travel technology and software company; Travel 2/Travel 4, a leading international provider of long-haul air travel and travel product consolidator; online global corporate travel management solutions, through Travelport and Orbitz for Business.
1986
CheapTickets founded in Honolulu
1987
First call center opens
1997
CheapTickets.com launches, ahead of many competitors
1999
Initial public offering
2000
CheapTickets acquired by Cendant Corporation"
Therefore, I was really interested in a travel release from CheapTickets.com
I went to the company's website and discovered that Cheaptickets is part of a publicly traded company on the New York Stock Exchange. The company also partners with Priceline.com
On the Cheaptickets website two features caught my eye
1) The "Cheap of the Week" section
2)And the Last-minute Deals section....
Anyway: Here is the news release:
"CheapTickets.com Introduces New Pricing Guide
The Cheapometer is a new monthly pricing guide that analyzes where vacationers can get the most travel for their buck in the U.S. and abroad. The Cheapometer assesses and compares the cost of hotel rates, airfares and vacation packages vs. the average cost here in the U.S.
CheapTickets Travel Cheapometer Volume 1: European Hotel Analysis
The debut CheapTickets Travel Cheapometer provides an analysis of how the U.S. dollar stacks up in various European cities. This European Hotel Cheapometer calculates the average daily rate (ADR) of a 4-star hotel room in the United States compared to the ADR of 4-star hotel rooms in ten popular European travel destinations.
Average Daily Rate for a 4-Star Hotel
in the U.S. $158.39
in Poland $100.54
-37% (Percentage Difference relative to the U.S.)
in Germany $101.68
-36%
in Spain
$113.82
-28%
in Czech Republic
$125.33
-21%
in Austria
$126.84
-20%
in Greece
$127.70
-19%
in Italy
$144.51
-9%
in Netherlands
$144.76
-9%
in UK
$148.57
-6%
in Ireland
$151.00
-5%
Additional CheapTickets.com Travel Survey Findings
“The cost of a hotel room can be one of the biggest expenses during travel,” said Marita Hudson of CheapTickets.com’s Cheap Squad. “A less expensive hotel room is an indicator of how pricey the rest of the country or city might be during your stay.”
In addition to the finding mentioned earlier, other important survey information to note includes:
75% of Americans plan to take a vacation in the next 90 days
82% of travelers responded “No,” when asked if current economic conditions were impacting their vacation and travel plans over the next 90 days.
59% of Americans have plans to take an international vacation over the next 12 months.
Younger travelers are more likely to consider the value of the dollar in making travel plans.
46% of travelers aged 19-34
35% of travelers aged 35-54
30% of travelers aged 55+
Survey Methodology
This study was fielded by CheapTickets.com from July 14 -17, 2006 via the Internet using MarketTool’s online survey panel. 583 U.S. adults aged 18 or older were surveyed. All survey participants had traveled for leisure in the past twelve months and had taken at least one international trip in the past twelve months.
About CheapTickets
CheapTickets is a leading seller of discounted leisure travel products online through its Web site, www.cheaptickets.com.
CheapTickets provides consumers access to one of the largest selections of low fares, accommodations, customizable vacation packages, cruises, rental cars, condo rentals, and last-minute trips. Founded in 1986, CheapTickets is part of the Consumer Travel Americas group within Cendant's Travel Distribution Services Division.
Cendant Corporation's (NYSE: CD) Travel Distribution Services Division is one of the world's largest and most geographically diverse collections of travel brands and distribution businesses. The division, employing nearly 5,000 people in more than 116 countries, includes: .... leading online travel intermediaries (Orbitz, CheapTickets, Lodging.com, HotelClub.com and RatesToGo.com); Shepherd Systems, an airline market intelligence company; Travelwire, an international travel technology and software company; Travel 2/Travel 4, a leading international provider of long-haul air travel and travel product consolidator; online global corporate travel management solutions, through Travelport and Orbitz for Business.
1986
CheapTickets founded in Honolulu
1987
First call center opens
1997
CheapTickets.com launches, ahead of many competitors
1999
Initial public offering
2000
CheapTickets acquired by Cendant Corporation"
Tuesday, August 08, 2006
Free Your Inner Gulliver: A Swift Lesson
I received this news release about a book called: Free Gulliver: Six Swift Lessons in Life Planning by Tripp Friedler.
The book has great info about the frugal use of time and other important resources.
I've read a lot of books about how to make millions, how to make the most of every opportunity, etc. The bottom line in my reading: Stay focused & be passionate about your work, your dreams, etc.
"If your life is less than what you want it to be, resist the temptation to say, 'I can live with all these little strings,'" says Friedler. "Break those strings and jump up and chase your dreams. Life is too short, and too potentially rich and fulfilling, not to. When you're on your deathbed, your biggest regrets will center on the risks you didn't take, not the ones you did."
Anyway, here's the news release (with a few edits):
"You're tired of feeling exhausted, overwhelmed, trapped by a life that, frankly, feels more like an endurance race. If you can just get a handle on one corner of it, maybe you can start turning things around. By 2007, everything will be better . . . right?
Well, if you follow your usual path, no, says Tripp Friedler, author of Free Gulliver.
If you're not living a life you love, the symbolic little goals you keep setting (and abandoning) are meaningless. You need to set the mother of all goals--FREE GULLIVER.
STOP OVERSPENDING AND OTHER BAD HABITS
What's interesting, says Friedler, is that once you have freed Gulliver, those little bad habits --smoking, overeating, overspending--will be much easier to fix. Sometimes, they even dissolve away on their own. That's because so many of them are coping mechanisms you use to distract you from what's really important.
TRAVELING WITH GULLIVER
The reference, of course, is to the protagonist of Jonathan Swift's classic Gulliver's Travels.
In case you need a refresher on Swift's tale, Gulliver was a doctor who couldn't make any money on land so he decided to ply his trade on the sea. When his ship was wrecked, he woke up on a beach tied down by hundreds of tiny strings. The strings belonged to a group of equally tiny people--the Lilliputians--who shot Gulliver with little poisonous arrows when he tried to escape. So, not wanting to deal with the pain, he allowed himself to be tied back down for a while before he was ultimately freed.
"To free Gulliver is to slice through all the problems that are keeping you from doing the one thing you daydream about," says Friedler. "You know, that thing you keep putting off until the kids are in school, or until you get the house paid off, or until you retire. That's the resolution you should be setting. All those other yearly promises are just bandages--usually bandages with no adhesive!"
SHED THE FEAR FACTOR
· Freeing Gulliver really isn't that hard. We just think it's hard. But focus and clarity are the keys, and they're not necessarily easy to achieve.
Remember, Gulliver quit fighting the Lilliputians because their tiny darts were causing him pain. But when you realize the temporary pain of change is much less painful than the permanent pain of living in bondage, you'll realize getting clear and focused is worth it.
"Change is scary, but I think it's the anticipation that's the worst," says Friedler. "Once you've made the leap across the chasm, you kind of look back and realize the leap wasn't nearly as big as you thought it was. And if you're like most people, you'll wonder why you didn't do it sooner."
LOCATION! LOCATION! LOCATION!
· Don't be afraid to take an unflinching look at your location. Your location is where you are right now, the good, the bad, and the ugly of your current life situation. Looking at it may be frightening but it's absolutely necessary.
"Denial is the force that keeps people in limbo for many years," Friedler says. "I have found that most people don't want to know their location. They are afraid that they'll discover they don't have what it takes to buy that new house or change careers or whatever. But discovering their location actually reveals what they have to do in order to achieve that dream. It's nothing less than a paradigm shift in your thinking."
JUMP OUT OF THE MATRIX
·Free your passion and your passion will free you.(Gulliver). Of course, passion alone won't get you anywhere; it's just a third of what Friedler calls the "three legged stool," which also encompasses location and vision. But it's the rocket fuel that takes you where you want to go. "We all naturally have passion for something," says Friedler.
"Question is, are we putting it in the driver's seat or keeping it locked in the trunk? It's not my job to create passion in my clients, but I do help them access it and direct it. People are usually surprised to find they really do have the passion to reach what they want. I mean, they have the passion it would take to go one mile, and they think they're six miles away. I show them they're really only half a mile away--they have more than enough fuel."
(Check out his website, freegulliver.comFree Gulliver.
Free Gulliver: Six Swift Lessons in Life Planning by Tripp Friedler(Trost Publishing, 2005, ISBN: 1-933205-00-8, $19.95/).
About the Author:
Tripp Friedler is Gulliver. A born adventurer, he has weathered his share of storms, cut plenty of strings, and now helps others chart their own journeys. Interested in going back to school? Tripp has a law degree and is working on his second masters; he'll help you find the time. Want a career change? Tripp gave up records to manage a restaurant, sold a business to make more time for his wife and three children. As a Chartered Life Underwriter, a Chartered Financial Consultant, and an Accredited Estate Planner, he has studied the financial plans of over one thousand people and helped them create life plans to reach their goals."
The book has great info about the frugal use of time and other important resources.
I've read a lot of books about how to make millions, how to make the most of every opportunity, etc. The bottom line in my reading: Stay focused & be passionate about your work, your dreams, etc.
"If your life is less than what you want it to be, resist the temptation to say, 'I can live with all these little strings,'" says Friedler. "Break those strings and jump up and chase your dreams. Life is too short, and too potentially rich and fulfilling, not to. When you're on your deathbed, your biggest regrets will center on the risks you didn't take, not the ones you did."
Anyway, here's the news release (with a few edits):
"You're tired of feeling exhausted, overwhelmed, trapped by a life that, frankly, feels more like an endurance race. If you can just get a handle on one corner of it, maybe you can start turning things around. By 2007, everything will be better . . . right?
Well, if you follow your usual path, no, says Tripp Friedler, author of Free Gulliver.
If you're not living a life you love, the symbolic little goals you keep setting (and abandoning) are meaningless. You need to set the mother of all goals--FREE GULLIVER.
STOP OVERSPENDING AND OTHER BAD HABITS
What's interesting, says Friedler, is that once you have freed Gulliver, those little bad habits --smoking, overeating, overspending--will be much easier to fix. Sometimes, they even dissolve away on their own. That's because so many of them are coping mechanisms you use to distract you from what's really important.
TRAVELING WITH GULLIVER
The reference, of course, is to the protagonist of Jonathan Swift's classic Gulliver's Travels.
In case you need a refresher on Swift's tale, Gulliver was a doctor who couldn't make any money on land so he decided to ply his trade on the sea. When his ship was wrecked, he woke up on a beach tied down by hundreds of tiny strings. The strings belonged to a group of equally tiny people--the Lilliputians--who shot Gulliver with little poisonous arrows when he tried to escape. So, not wanting to deal with the pain, he allowed himself to be tied back down for a while before he was ultimately freed.
"To free Gulliver is to slice through all the problems that are keeping you from doing the one thing you daydream about," says Friedler. "You know, that thing you keep putting off until the kids are in school, or until you get the house paid off, or until you retire. That's the resolution you should be setting. All those other yearly promises are just bandages--usually bandages with no adhesive!"
SHED THE FEAR FACTOR
· Freeing Gulliver really isn't that hard. We just think it's hard. But focus and clarity are the keys, and they're not necessarily easy to achieve.
Remember, Gulliver quit fighting the Lilliputians because their tiny darts were causing him pain. But when you realize the temporary pain of change is much less painful than the permanent pain of living in bondage, you'll realize getting clear and focused is worth it.
"Change is scary, but I think it's the anticipation that's the worst," says Friedler. "Once you've made the leap across the chasm, you kind of look back and realize the leap wasn't nearly as big as you thought it was. And if you're like most people, you'll wonder why you didn't do it sooner."
LOCATION! LOCATION! LOCATION!
· Don't be afraid to take an unflinching look at your location. Your location is where you are right now, the good, the bad, and the ugly of your current life situation. Looking at it may be frightening but it's absolutely necessary.
"Denial is the force that keeps people in limbo for many years," Friedler says. "I have found that most people don't want to know their location. They are afraid that they'll discover they don't have what it takes to buy that new house or change careers or whatever. But discovering their location actually reveals what they have to do in order to achieve that dream. It's nothing less than a paradigm shift in your thinking."
JUMP OUT OF THE MATRIX
·Free your passion and your passion will free you.(Gulliver). Of course, passion alone won't get you anywhere; it's just a third of what Friedler calls the "three legged stool," which also encompasses location and vision. But it's the rocket fuel that takes you where you want to go. "We all naturally have passion for something," says Friedler.
"Question is, are we putting it in the driver's seat or keeping it locked in the trunk? It's not my job to create passion in my clients, but I do help them access it and direct it. People are usually surprised to find they really do have the passion to reach what they want. I mean, they have the passion it would take to go one mile, and they think they're six miles away. I show them they're really only half a mile away--they have more than enough fuel."
(Check out his website, freegulliver.comFree Gulliver.
Free Gulliver: Six Swift Lessons in Life Planning by Tripp Friedler(Trost Publishing, 2005, ISBN: 1-933205-00-8, $19.95/).
About the Author:
Tripp Friedler is Gulliver. A born adventurer, he has weathered his share of storms, cut plenty of strings, and now helps others chart their own journeys. Interested in going back to school? Tripp has a law degree and is working on his second masters; he'll help you find the time. Want a career change? Tripp gave up records to manage a restaurant, sold a business to make more time for his wife and three children. As a Chartered Life Underwriter, a Chartered Financial Consultant, and an Accredited Estate Planner, he has studied the financial plans of over one thousand people and helped them create life plans to reach their goals."
Free Passport: Skip Online Tolls.
I found a great freebie in the August Issue of Real Simple.
Have you ever gone surfing online, found a great piece and then read three lines and faced a fee? Or worse, what if you really, really need this piece (for work, school or sanity)?
That has happened to me. I've hit the wall of fee-based registrations for online materials.
But with this free passport, you can skip pass the online tolls. It's called NetPass. (www.congoo.com)
Here's description from the company's website:
"Congoo NetPass Features
1. Download the NetPass.
2. Start enjoying instant, FREE access to nearly 300 premium content sources*.
3. Find exclusive premium content with Congoo search."
They have an outstanding list of online publications ranging from financial fee-based reports for Wall Street fans to popular or obscure newspapers, magazines and encyclopedias. There are lots of industry trade publications. Windows is required.
Have you ever gone surfing online, found a great piece and then read three lines and faced a fee? Or worse, what if you really, really need this piece (for work, school or sanity)?
That has happened to me. I've hit the wall of fee-based registrations for online materials.
But with this free passport, you can skip pass the online tolls. It's called NetPass. (www.congoo.com)
Here's description from the company's website:
"Congoo NetPass Features
1. Download the NetPass.
2. Start enjoying instant, FREE access to nearly 300 premium content sources*.
3. Find exclusive premium content with Congoo search."
They have an outstanding list of online publications ranging from financial fee-based reports for Wall Street fans to popular or obscure newspapers, magazines and encyclopedias. There are lots of industry trade publications. Windows is required.
Monday, August 07, 2006
Slashing Auto Insurance for College-Bound
For many college students, access to a car creates a sense of freedom, security and flexibility.
It's the ultimate security blanket.
There are ways parents can reduce insurance costs while their kids are at school. Planning and research are the keys, says Rich Goebel, senior vice president of Answer Financial, an independent insurance agent that represents several top carriers in Florida and nationwide.
Begin with a four-question quiz:
1. Is a car really necessary on campus?
If the campus is more than 100 miles away from your home, and the student won't be driving while away, you may be able to save between 10 percent to 50 percent on your policy by removing your dependent driver from the policy. Other factors such as the age of the car, the region of the country, and driving records also impact price. Policies sharply differ from company to company. Shop around, Goebel said.
2. What's the campus zip code?
If your dependent child is taking a car to campus, parents may qualify for a rate reduction based on the location -- the college's zip code. ''Typically, metro urban areas have higher rates,'' Goebel said.
3. How will the car be parked?
A secure, guarded lot or a campus garage may earn lower rates. The presence of anti-theft devices can also yield discounts.
4. How's the report card?
College kids still qualify for ''good student discounts.'' A full-time student with at least a ''B'' average can bring an additional 10 percent to 25 percent price cut in the family's insurance rates. College grades are often reported directly to insurance companies, Goebel said.
OTHER TIPS: CAMERAS & ACCIDENTS
Meanwhile, Goebel recommends keeping a tip sheet in the glove compartment in case the student is in an accident. The checklist should include procedures and instructions for emergencies. Make sure the student knows how to request the names and numbers of witnesses at an accident and the name and number of the other driver's insurance policy.
Another handy item for the glove compartment is a disposable camera. Students should use it to document an accident from various angles. Record street signs. Documentation will make it harder for other motorists to simply blame the student.
It's the ultimate security blanket.
There are ways parents can reduce insurance costs while their kids are at school. Planning and research are the keys, says Rich Goebel, senior vice president of Answer Financial, an independent insurance agent that represents several top carriers in Florida and nationwide.
Begin with a four-question quiz:
1. Is a car really necessary on campus?
If the campus is more than 100 miles away from your home, and the student won't be driving while away, you may be able to save between 10 percent to 50 percent on your policy by removing your dependent driver from the policy. Other factors such as the age of the car, the region of the country, and driving records also impact price. Policies sharply differ from company to company. Shop around, Goebel said.
2. What's the campus zip code?
If your dependent child is taking a car to campus, parents may qualify for a rate reduction based on the location -- the college's zip code. ''Typically, metro urban areas have higher rates,'' Goebel said.
3. How will the car be parked?
A secure, guarded lot or a campus garage may earn lower rates. The presence of anti-theft devices can also yield discounts.
4. How's the report card?
College kids still qualify for ''good student discounts.'' A full-time student with at least a ''B'' average can bring an additional 10 percent to 25 percent price cut in the family's insurance rates. College grades are often reported directly to insurance companies, Goebel said.
OTHER TIPS: CAMERAS & ACCIDENTS
Meanwhile, Goebel recommends keeping a tip sheet in the glove compartment in case the student is in an accident. The checklist should include procedures and instructions for emergencies. Make sure the student knows how to request the names and numbers of witnesses at an accident and the name and number of the other driver's insurance policy.
Another handy item for the glove compartment is a disposable camera. Students should use it to document an accident from various angles. Record street signs. Documentation will make it harder for other motorists to simply blame the student.
Sunday, August 06, 2006
Weekly Post-its: My Picks
Here is a weekly round-up of some of my favorite posts:
BIRTHDAY WISH
Happy Birthday to JLP's Dad
Forget the billboards, cards and balloons. Blogs can deliver great birthday wishes.
The creator of All Financial Matters, for example, has posted a great and instructive birthday message to his father. Sweeter than cake!
PUBLIC TRANSPORTATION SAGA
From Seattle Simplicity, this is a thoughtful item about commuting on a bus. I love public transportation, but this is the downside, all riders have experienced at one time or another:
Seattle Simplicity: Bus Commuter Tales of Woe
Number Crunching in New York
Hey, the numbers are overwhelming, but this thoughtful piece from My Open Wallet about financial security in New York made me miss my old loft in Manhattan. It's like a trip from Miami to my Northeast roots.
life in New York
RENT CHECK
Check out the new apartment from Through a Glass Darkly, which is tastefully furnished and significantly cheaper than the couple's last apartment. I think they spotted it on Craigs List
The photos are great. I love the cat! cool apartment
BIRTHDAY WISH
Happy Birthday to JLP's Dad
Forget the billboards, cards and balloons. Blogs can deliver great birthday wishes.
The creator of All Financial Matters, for example, has posted a great and instructive birthday message to his father. Sweeter than cake!
PUBLIC TRANSPORTATION SAGA
From Seattle Simplicity, this is a thoughtful item about commuting on a bus. I love public transportation, but this is the downside, all riders have experienced at one time or another:
Seattle Simplicity: Bus Commuter Tales of Woe
Number Crunching in New York
Hey, the numbers are overwhelming, but this thoughtful piece from My Open Wallet about financial security in New York made me miss my old loft in Manhattan. It's like a trip from Miami to my Northeast roots.
life in New York
RENT CHECK
Check out the new apartment from Through a Glass Darkly, which is tastefully furnished and significantly cheaper than the couple's last apartment. I think they spotted it on Craigs List
The photos are great. I love the cat! cool apartment
Friday, August 04, 2006
Selling Your Soul for Money?
This is a thoughtful piece about money, life and balance.
It was sent to me from the Himalayan Institute.
Here is the text:
"Must you "sell your soul" to be financially successful? This question has long troubled spiritual seekers.....Buddhist teachers regularly "renounced the world" and relied on donations for their livelihood. But what if you want to run a successful company, live in a nice neighborhood, send your kids to a private school . . . and live a spiritually rich life? Is it possible?
That's the question that Pandit Rajmani Tigunait, Ph.D.—spiritual head of the Himalayan Institute and author of the autobiographical book Touched by Fire: The Ongoing Journey of a Spiritual Seeker (Himalayan Institute Press, April 2005, ISBN: 0-89389-239-4, $16.95)- addresses.
"Real spirituality means to come to the center of your own life and become aware of who and what you are and not be affected by other people's opinions of you," Tigunait explains. "You gain respect for what you are and for what you are doing. You have full confidence that your work, your lifestyle, your job, and your business support what you believe in and support your own self-understanding. If you become financially prosperous in the process, that doesn't negate the spirituality."
Here are just a few of the points that Tigunait addresses:
Prosperity Defined
* The real meaning of prosperity. People think that prosperity means you make lots of money. You can buy the car of your choice, go on vacation to the island of your choice, and do anything you want to do. That is fine. However, prosperity to me is that which makes you really become a happy and healthy person, that which makes and brings happiness in your life. That's called prosperity. So it's inner prosperity that infuses your external world with happiness.
The End Goal of Money
* How money furthers your spiritual growth. Money has one simple purpose: to help you gather all the means and resources to make your life comfortable so that you preserve your time to do something that is more meaningful. Without those tools and means, without the comforts and conveniences, you would have wasted that time running after worldly success. Now that success is at hand, how will you further reinvest that success? How will you reinvest your worldly prosperity, your worldly wealth, to further regain and further recapture that inner wealth that is inside you? This is what spirituality does for you.
Spirituality does not mean detaching yourself, renouncing the world, and becoming a recluse. On the contrary, says Tigunait, it means to become successful, to become useful, to become productive . . . concepts businesspeople understand very well.
Pandit Rajmani Tigunait, Ph.D., the spiritual head of the Himalayan Institute, is the successor of Swami Rama of the Himalayas. Lecturing and teaching worldwide for more than a quarter of a century, he is a regular contributor to Yoga International magazine, the author of twelve books, including the best-selling At the Eleventh Hour: The Biography of Swami Rama of the Himalayas, and the force behind Sacred Link-The Healing Revolution.
For more information, visit Himalayan Institute"
It was sent to me from the Himalayan Institute.
Here is the text:
"Must you "sell your soul" to be financially successful? This question has long troubled spiritual seekers.....Buddhist teachers regularly "renounced the world" and relied on donations for their livelihood. But what if you want to run a successful company, live in a nice neighborhood, send your kids to a private school . . . and live a spiritually rich life? Is it possible?
That's the question that Pandit Rajmani Tigunait, Ph.D.—spiritual head of the Himalayan Institute and author of the autobiographical book Touched by Fire: The Ongoing Journey of a Spiritual Seeker (Himalayan Institute Press, April 2005, ISBN: 0-89389-239-4, $16.95)- addresses.
"Real spirituality means to come to the center of your own life and become aware of who and what you are and not be affected by other people's opinions of you," Tigunait explains. "You gain respect for what you are and for what you are doing. You have full confidence that your work, your lifestyle, your job, and your business support what you believe in and support your own self-understanding. If you become financially prosperous in the process, that doesn't negate the spirituality."
Here are just a few of the points that Tigunait addresses:
Prosperity Defined
* The real meaning of prosperity. People think that prosperity means you make lots of money. You can buy the car of your choice, go on vacation to the island of your choice, and do anything you want to do. That is fine. However, prosperity to me is that which makes you really become a happy and healthy person, that which makes and brings happiness in your life. That's called prosperity. So it's inner prosperity that infuses your external world with happiness.
The End Goal of Money
* How money furthers your spiritual growth. Money has one simple purpose: to help you gather all the means and resources to make your life comfortable so that you preserve your time to do something that is more meaningful. Without those tools and means, without the comforts and conveniences, you would have wasted that time running after worldly success. Now that success is at hand, how will you further reinvest that success? How will you reinvest your worldly prosperity, your worldly wealth, to further regain and further recapture that inner wealth that is inside you? This is what spirituality does for you.
Spirituality does not mean detaching yourself, renouncing the world, and becoming a recluse. On the contrary, says Tigunait, it means to become successful, to become useful, to become productive . . . concepts businesspeople understand very well.
Pandit Rajmani Tigunait, Ph.D., the spiritual head of the Himalayan Institute, is the successor of Swami Rama of the Himalayas. Lecturing and teaching worldwide for more than a quarter of a century, he is a regular contributor to Yoga International magazine, the author of twelve books, including the best-selling At the Eleventh Hour: The Biography of Swami Rama of the Himalayas, and the force behind Sacred Link-The Healing Revolution.
For more information, visit Himalayan Institute"
Thursday, August 03, 2006
Pop Shopping Quizz
I read a lot of magazines and the September issue of Woman's Day has a great article by Mary Hunt about shopping.
She offers an anti-wasteful shopping pop quizz.
Before making a purchase ask yourself the following questions:
1) Is this item really necessary? (if no, put it back on the shelf)
2) Is it affordable?(if no, put it back)
3) Do I own another item that will serve the same purpose? (if yes, don't buy)
4) Is it possible to wait and buy a cheaper substitute later? (if yes, don't buy)
5) Have I really shopped around for the best deal? (if no, don't buy)
6) What happens if I delay this purchase? This is the trick question. (if you're not going to lose the home of your dreams, the perfect shoe or a night's sleep, forget it!)
By the way, Mary Hunt has written a new edition of her book: Debt-Proof Living. Woman's Day is giving away free copies of the book during the entire month of August.
No purchase to enter. Here's the link for submitting your entry: Mary Hunt book contest
She offers an anti-wasteful shopping pop quizz.
Before making a purchase ask yourself the following questions:
1) Is this item really necessary? (if no, put it back on the shelf)
2) Is it affordable?(if no, put it back)
3) Do I own another item that will serve the same purpose? (if yes, don't buy)
4) Is it possible to wait and buy a cheaper substitute later? (if yes, don't buy)
5) Have I really shopped around for the best deal? (if no, don't buy)
6) What happens if I delay this purchase? This is the trick question. (if you're not going to lose the home of your dreams, the perfect shoe or a night's sleep, forget it!)
By the way, Mary Hunt has written a new edition of her book: Debt-Proof Living. Woman's Day is giving away free copies of the book during the entire month of August.
No purchase to enter. Here's the link for submitting your entry: Mary Hunt book contest
BACK TO SCHOOL SHOPPING LESSONS & TRENDS
Back-to-school shopping is a great opportunity for teaching kids the ABC's of money.
It works in my house and I'm not alone. The folks at MasterCard put together a news release (featured below) about shopping, kids and money. The MasterCard release has some good information about back-to-school shopping trends. I like the part about discount stores the best.
eBay is also a great spot for finding bargains in school supplies. Super cheap stuff, including new items that can be purchased in large supplies that will last for the entire school term.
Anyway, here's the MasterCard text:
"Parents use Back-to-School Shopping to Educate Children About Budgeting
As parents leverage payment cards to manage spending, they’ll also use this opportunity to discuss financial management with their children. In fact, more than half of parents (53 percent) plan to leverage back-to-school shopping to talk to their children about budgeting and spending wisely, according to the findings of a new MasterCard Worldwide survey.
Conducted by Harris Interactive, the annual MasterCard Back to School Spending Index found that 58 percent of parents of U.S. students college age or younger plan to use debit cards for back-to-school purchases, increasing from 26 percent in 2005.
Shoppers & Habits
The MasterCard Back to School Spending Index survey revealed further conclusions about parents’ back-to-school spending habits:
Parents of U.S. students college age and younger expect to spend, on average, $424 this year on back-to-school items. Sixteen percent anticipate 2006 back-to-school expenses for books, clothes, and supplies to exceed $500.
Three out of four (75 percent) parents anticipate spending the same amount (40 percent) or more (35 percent) this year as compared to last.
Eighty percent of parents said their child or children will accompany them on shopping trips for back-to-school items. Nine percent of parents said they will go alone, while 11 percent of parents said their children will do the shopping alone.
The Shopping Lists
Clothing is by far the most popular item on back-to-school shopping lists. Two-thirds (64 percent) claimed that clothing will be their highest expense, followed by books (13 percent) and supplies (9 percent).
The Stores
Understandably, the most sought-after shopping destinations for parents are discount stores, with more than 86 percent planning to purchase back-to-school items from a discounter.
Consumers will also head to office supply stores (46 percent), department stores (38 percent), specialty and apparel retailers (20 percent), and drug stores (16 percent).
About the Harris Interactive Survey
MasterCard commissioned the Harris Interactive study as a part of an ongoing effort to better understand consumer attitudes and behaviors with regard to back-to-school spending and money management. Harris Interactive® fielded the study from July 5-7, 2006, via its QuickQuerySM online omnibus service, interviewing a nationwide sample of 2,056 U.S. adults
It works in my house and I'm not alone. The folks at MasterCard put together a news release (featured below) about shopping, kids and money. The MasterCard release has some good information about back-to-school shopping trends. I like the part about discount stores the best.
eBay is also a great spot for finding bargains in school supplies. Super cheap stuff, including new items that can be purchased in large supplies that will last for the entire school term.
Anyway, here's the MasterCard text:
"Parents use Back-to-School Shopping to Educate Children About Budgeting
As parents leverage payment cards to manage spending, they’ll also use this opportunity to discuss financial management with their children. In fact, more than half of parents (53 percent) plan to leverage back-to-school shopping to talk to their children about budgeting and spending wisely, according to the findings of a new MasterCard Worldwide survey.
Conducted by Harris Interactive, the annual MasterCard Back to School Spending Index found that 58 percent of parents of U.S. students college age or younger plan to use debit cards for back-to-school purchases, increasing from 26 percent in 2005.
Shoppers & Habits
The MasterCard Back to School Spending Index survey revealed further conclusions about parents’ back-to-school spending habits:
Parents of U.S. students college age and younger expect to spend, on average, $424 this year on back-to-school items. Sixteen percent anticipate 2006 back-to-school expenses for books, clothes, and supplies to exceed $500.
Three out of four (75 percent) parents anticipate spending the same amount (40 percent) or more (35 percent) this year as compared to last.
Eighty percent of parents said their child or children will accompany them on shopping trips for back-to-school items. Nine percent of parents said they will go alone, while 11 percent of parents said their children will do the shopping alone.
The Shopping Lists
Clothing is by far the most popular item on back-to-school shopping lists. Two-thirds (64 percent) claimed that clothing will be their highest expense, followed by books (13 percent) and supplies (9 percent).
The Stores
Understandably, the most sought-after shopping destinations for parents are discount stores, with more than 86 percent planning to purchase back-to-school items from a discounter.
Consumers will also head to office supply stores (46 percent), department stores (38 percent), specialty and apparel retailers (20 percent), and drug stores (16 percent).
About the Harris Interactive Survey
MasterCard commissioned the Harris Interactive study as a part of an ongoing effort to better understand consumer attitudes and behaviors with regard to back-to-school spending and money management. Harris Interactive® fielded the study from July 5-7, 2006, via its QuickQuerySM online omnibus service, interviewing a nationwide sample of 2,056 U.S. adults
Wednesday, August 02, 2006
Finding Fall Funds for College
A college education costs a bundle, with some price-tags exceeding six-figures for a four-year term.
The news release below has some great tips about generating financial aid--even at the last minute.
Also in the August 8 issue of Woman's World there are a few insightful quotes from Ric Edelman, who wrote The New Rules of Money. The snapshot summary of the book appears on page 25 of the August 8 issue of Woman's World.
Example
Old-School Rule:
A big-ticket college means a big-ticket salary
Edelman's New-School Wisdom
Expensive tuition + four years does not automatically equal a high post-college salary.
"Consider the expected salary and then choose a school where the tuition is manageable," according to Edelman.
The payoff: lower tuition = lower student loan bills after graduaction.
______
And here's the news release that I mentioned above:
"DON’T LET SUMMER PASS YOU BY:
FIVE TIPS TO HELP STUDENTS AND PARENTS
FIND FUNDS FOR THE UPCOMING SCHOOL YEAR
"The lazy days of summer can be time well spent for students and parents looking to narrow the gap between their financial aid packages and upcoming tuition bills. Acting now to search out and secure additional funds before the back-to-school season can give families an advantage that can translate into thousands of dollars in tuition aid.
With college tuition continuing to rise at double the rate of inflation, families should be sure to explore all available avenues for college funding. College Loan Corporation offers the following five tips for families and students looking to secure additional funds:
1. Free Scholarship Searches: Exploring free scholarship searches can be a worthwhile exercise, often yielding valuable additional funds for college tuition. Scholarships are available to every student and family, even those who mistakenly assume they will not qualify; many scholarships are awarded regardless of financial need. A free scholarship search engine accessing more than 1.3 million scholarships worth more than $3 billion is available at www.collegeloan.com.
2. PLUS Loans for Parents: Federal aid is not available only to students; parents can take advantage of low-cost federal financing as well. Many parents don’t realize that PLUS Loans are available to them and offer comparatively lower interest rates than consumer loans. PLUS Loans are not based on financial assets and no collateral is required. Parents of dependent undergraduates can borrow up to the full cost of attendance, minus any other financial aid the student has received. PLUS Loans can even be used to pay the Expected Family Contribution!
3. PLUS Loans for Graduate/Professional Students: New this year, graduate and professional students can take advantage of this excellent federal financing program. Like the parent PLUS Loan, the Grad PLUS Loan offers low rates and ease of approval. But, don’t be fooled by the name – this PLUS Loan isn’t for parents. Graduate and professional students - not their parents - apply directly for this loan to meet the full cost of attendance, minus other financial aid received.
4. Alternative Loans: Alternative Loans can provide a sensible solution for families looking to bridge the gap between federal financial aid and Cost of Attendance. Many Alternative Loans offer an easy online application, deferment options, flexible repayment plans and repayment benefits such as interest rate reductions and a co-borrower release option. Alternative Loans are not backed by the federal government and vary by lender, so borrowers should shop around for the best terms and conditions.
5. Check with Your School’s Financial Aid Office: Students should be sure to call their school’s financial aid office or visit their website. Financial aid counselors are valuable resources and can help families achieve their goals for higher education. They are equipped with the expertise to help find the funds that students and families need in time for the fall semester.
Getting an early start is especially important this year as increases in college tuition continue to outpace family income. Last year the average annual tuition at four-year private universities rose 6% to $21,235, and this year’s increases are comparable. The increases, coupled with more students competing for less aid, are making this one of the toughest years yet for securing much needed college funding.
One last word of advice – do your homework! There are plenty of resources and information available to help students and parents finance education costs. College Loan Corporation offers free student aid guides, such as Financial Aid 101 and Paying for College, to help students and families learn more about their financial aid options. Start by visiting college loans calling 1.800.2COLLEGE or contacting your school’s financial aid office as soon as possible.
About College Loan Corporation
College Loan Corporation (CLC), headquartered in San Diego, is the nation’s seventh largest student loan provider, managing more than $9 billion in student loan assets. By offering innovative loan products and industry-leading customer service, the Company has helped make higher education possible for more than 600,000 students and families. More than 900 colleges and universities have designated College Loan Corporation as a preferred lender. CLC’s student loan hotline offers expert loan consultants 24 hours a day, 7 days a week at 1.800.2COLLEGE.
The news release below has some great tips about generating financial aid--even at the last minute.
Also in the August 8 issue of Woman's World there are a few insightful quotes from Ric Edelman, who wrote The New Rules of Money. The snapshot summary of the book appears on page 25 of the August 8 issue of Woman's World.
Example
Old-School Rule:
A big-ticket college means a big-ticket salary
Edelman's New-School Wisdom
Expensive tuition + four years does not automatically equal a high post-college salary.
"Consider the expected salary and then choose a school where the tuition is manageable," according to Edelman.
The payoff: lower tuition = lower student loan bills after graduaction.
______
And here's the news release that I mentioned above:
"DON’T LET SUMMER PASS YOU BY:
FIVE TIPS TO HELP STUDENTS AND PARENTS
FIND FUNDS FOR THE UPCOMING SCHOOL YEAR
"The lazy days of summer can be time well spent for students and parents looking to narrow the gap between their financial aid packages and upcoming tuition bills. Acting now to search out and secure additional funds before the back-to-school season can give families an advantage that can translate into thousands of dollars in tuition aid.
With college tuition continuing to rise at double the rate of inflation, families should be sure to explore all available avenues for college funding. College Loan Corporation offers the following five tips for families and students looking to secure additional funds:
1. Free Scholarship Searches: Exploring free scholarship searches can be a worthwhile exercise, often yielding valuable additional funds for college tuition. Scholarships are available to every student and family, even those who mistakenly assume they will not qualify; many scholarships are awarded regardless of financial need. A free scholarship search engine accessing more than 1.3 million scholarships worth more than $3 billion is available at www.collegeloan.com.
2. PLUS Loans for Parents: Federal aid is not available only to students; parents can take advantage of low-cost federal financing as well. Many parents don’t realize that PLUS Loans are available to them and offer comparatively lower interest rates than consumer loans. PLUS Loans are not based on financial assets and no collateral is required. Parents of dependent undergraduates can borrow up to the full cost of attendance, minus any other financial aid the student has received. PLUS Loans can even be used to pay the Expected Family Contribution!
3. PLUS Loans for Graduate/Professional Students: New this year, graduate and professional students can take advantage of this excellent federal financing program. Like the parent PLUS Loan, the Grad PLUS Loan offers low rates and ease of approval. But, don’t be fooled by the name – this PLUS Loan isn’t for parents. Graduate and professional students - not their parents - apply directly for this loan to meet the full cost of attendance, minus other financial aid received.
4. Alternative Loans: Alternative Loans can provide a sensible solution for families looking to bridge the gap between federal financial aid and Cost of Attendance. Many Alternative Loans offer an easy online application, deferment options, flexible repayment plans and repayment benefits such as interest rate reductions and a co-borrower release option. Alternative Loans are not backed by the federal government and vary by lender, so borrowers should shop around for the best terms and conditions.
5. Check with Your School’s Financial Aid Office: Students should be sure to call their school’s financial aid office or visit their website. Financial aid counselors are valuable resources and can help families achieve their goals for higher education. They are equipped with the expertise to help find the funds that students and families need in time for the fall semester.
Getting an early start is especially important this year as increases in college tuition continue to outpace family income. Last year the average annual tuition at four-year private universities rose 6% to $21,235, and this year’s increases are comparable. The increases, coupled with more students competing for less aid, are making this one of the toughest years yet for securing much needed college funding.
One last word of advice – do your homework! There are plenty of resources and information available to help students and parents finance education costs. College Loan Corporation offers free student aid guides, such as Financial Aid 101 and Paying for College, to help students and families learn more about their financial aid options. Start by visiting college loans calling 1.800.2COLLEGE or contacting your school’s financial aid office as soon as possible.
About College Loan Corporation
College Loan Corporation (CLC), headquartered in San Diego, is the nation’s seventh largest student loan provider, managing more than $9 billion in student loan assets. By offering innovative loan products and industry-leading customer service, the Company has helped make higher education possible for more than 600,000 students and families. More than 900 colleges and universities have designated College Loan Corporation as a preferred lender. CLC’s student loan hotline offers expert loan consultants 24 hours a day, 7 days a week at 1.800.2COLLEGE.
Tuesday, August 01, 2006
Making Your Money Smarter
As a degree-carrying English Major, I know how hard it is to understand the world of finance.
But it's important to get the low-down on money management, financial vehicles and other investments. Face it: You can only save so much by clipping coupons. It's important to make your coupon-clipping dollars work for you through smart investments. And no one is going to watch over your money with the same amount of attention that you will.
Because of a career choice, I was prompted to learn about the world of finance. I read the Wall Street Journal everyday and Barron's every Sunday with a cafe latte as a treat. Those publications and others finanacial periodicals really explained many of the major and minor financial terms. I also made a point of talking to financial gurus in informal--non-sales!!!!--settings. People love to talk and I learned to listen.
There are also many non-profit investment websites with great information.
The following release also has some interesting thoughts about money and personal responsibility.
FULL RELEASE BELOW:
"A recently published national study commissioned by financial brokerage firm Edward Jones shows that, while employer-provided financial education may be on the rise, more than 35 percent of working Americans still feel they are lacking the proper education to manage their own retirement portfolios.
The number skews higher for part-time, lower income or non-college educated workers. Across the board, only 25 percent of American workers find their employer to be “extremely helpful” in providing information at work that will help in retirement planning.
Among the other key findings from the survey conducted by Kelton Research:
▪ Almost half (48 percent) of those surveyed with annual household incomes of less than $25,000 agree that their employers are not helpful in retirement planning.
▪ Those who work part time are 21 percent more likely to agree that their employers fall into the unhelpful category.
▪ Those with more education are getting more help. Nearly two-thirds of those with college degrees agree that their employers are at least “somewhat helpful” in helping them plan for retirement.
The study of 1,000 American workers attempted to better understand the financial educational landscape as more employees are forced to manage and care for their retirement funds.
“These results clearly suggest that employers must do more to arm their employees with the education necessary to manage their financial futures,” said Ken King, partner in charge of the Edward Jones employee education department.
King pointed out that the issue impacts a broad cross section of employees, regardless of the type of retirement plan the company offers.
"It doesn't matter if the company plan is defined benefit or defined contribution, employees need to take a more active role in managing retirement funds. Without the proper education, many Americans could wind up squandering vital resources they will need in retirement,” King said.
About Edward Jones
Edward Jones provides investment advice and financial services for individual investors in the United States, Canada and the United Kingdom. Every aspect of the company’s business, from the types of investment options offered to the location of branch offices, is designed to cater to the individual investor in the communities in which they live and work.
Edward Jones is headquartered in St. Louis, Mo."
But it's important to get the low-down on money management, financial vehicles and other investments. Face it: You can only save so much by clipping coupons. It's important to make your coupon-clipping dollars work for you through smart investments. And no one is going to watch over your money with the same amount of attention that you will.
Because of a career choice, I was prompted to learn about the world of finance. I read the Wall Street Journal everyday and Barron's every Sunday with a cafe latte as a treat. Those publications and others finanacial periodicals really explained many of the major and minor financial terms. I also made a point of talking to financial gurus in informal--non-sales!!!!--settings. People love to talk and I learned to listen.
There are also many non-profit investment websites with great information.
The following release also has some interesting thoughts about money and personal responsibility.
FULL RELEASE BELOW:
"A recently published national study commissioned by financial brokerage firm Edward Jones shows that, while employer-provided financial education may be on the rise, more than 35 percent of working Americans still feel they are lacking the proper education to manage their own retirement portfolios.
The number skews higher for part-time, lower income or non-college educated workers. Across the board, only 25 percent of American workers find their employer to be “extremely helpful” in providing information at work that will help in retirement planning.
Among the other key findings from the survey conducted by Kelton Research:
▪ Almost half (48 percent) of those surveyed with annual household incomes of less than $25,000 agree that their employers are not helpful in retirement planning.
▪ Those who work part time are 21 percent more likely to agree that their employers fall into the unhelpful category.
▪ Those with more education are getting more help. Nearly two-thirds of those with college degrees agree that their employers are at least “somewhat helpful” in helping them plan for retirement.
The study of 1,000 American workers attempted to better understand the financial educational landscape as more employees are forced to manage and care for their retirement funds.
“These results clearly suggest that employers must do more to arm their employees with the education necessary to manage their financial futures,” said Ken King, partner in charge of the Edward Jones employee education department.
King pointed out that the issue impacts a broad cross section of employees, regardless of the type of retirement plan the company offers.
"It doesn't matter if the company plan is defined benefit or defined contribution, employees need to take a more active role in managing retirement funds. Without the proper education, many Americans could wind up squandering vital resources they will need in retirement,” King said.
About Edward Jones
Edward Jones provides investment advice and financial services for individual investors in the United States, Canada and the United Kingdom. Every aspect of the company’s business, from the types of investment options offered to the location of branch offices, is designed to cater to the individual investor in the communities in which they live and work.
Edward Jones is headquartered in St. Louis, Mo."
Monday, July 31, 2006
Strategies for Cutting Cable Bills
In a recent post about cable bills and movie rentals, I featured Bette from Hollywood, a woman with a $125 monthly cable bill. To my cable-free vision, Bette's expense seemed excessive. But one consumer's luxury may seem frugal to another.
At least one reader thinks Bette has a good deal.
''Paying for good things on your screen is actually a great use of entertainment money,'' wrote a fellow called Alberen. ``What else can you do all day, every day all month and only spend $80 bucks on it?''
He has a point. Trips to the movies, malls and bowling alleys can easily exceed $80 during a month's time, Alberen said. Bette believes that her cable-line reduces her entertainment expenses at other outlets. Consider the numbers: Weekly movie dates for two adults cost roughly $20 a week, before gas, popcorn and other expenses. On a monthly basis, four movie dates would cost at least $80 a week. Therefore, on an hourly basis, cable is a better value, Bette said.
Even so, there are ways to squeeze more out of your cable bill, according to Melissa Tosetti, editor and publisher of Budget Savvy, a California-based publication now available free at www.budgetsavvymag.com. During a recent telephone interview, Tosetti, a cable fan, offered these tips:
• Do your homework. At least twice a year, preferably quarterly, you should review your cable bills and check out prices offered by competing cable companies.
• Think satellite. Even if your cable operator has a monopoly in your region, various satellite companies have competitive introductory promotions. Take notes.
• Call the ''Cancel Service Department'' of your cable company with details about lower prices or discounts elsewhere. Be honest and be prepared with actual names and numbers, Tosetti said. It won't pay to lie.
• Be persistent. Don't accept ''no'' on the first phone call. Repeat calls may yield a customer representative or manager more receptive to your comparison shopping. Plus, companies periodically run special promotions.
• Bundle it up. Consider packaged deals that include Internet and cable access. Shop around and compare costs.
• And finally, know yourself. Tosetti and her husband love the History Channel and HBO, but have little use for premium sports channels. Therefore, she tailors and reduces her cable expenditures to match her tastes. Launch your own television audit to eliminate cable waste.
''Of course, don't pay for what you don't use and watch out: the small screen is an incubator for body rot,'' wrote Alberen.
At least one reader thinks Bette has a good deal.
''Paying for good things on your screen is actually a great use of entertainment money,'' wrote a fellow called Alberen. ``What else can you do all day, every day all month and only spend $80 bucks on it?''
He has a point. Trips to the movies, malls and bowling alleys can easily exceed $80 during a month's time, Alberen said. Bette believes that her cable-line reduces her entertainment expenses at other outlets. Consider the numbers: Weekly movie dates for two adults cost roughly $20 a week, before gas, popcorn and other expenses. On a monthly basis, four movie dates would cost at least $80 a week. Therefore, on an hourly basis, cable is a better value, Bette said.
Even so, there are ways to squeeze more out of your cable bill, according to Melissa Tosetti, editor and publisher of Budget Savvy, a California-based publication now available free at www.budgetsavvymag.com. During a recent telephone interview, Tosetti, a cable fan, offered these tips:
• Do your homework. At least twice a year, preferably quarterly, you should review your cable bills and check out prices offered by competing cable companies.
• Think satellite. Even if your cable operator has a monopoly in your region, various satellite companies have competitive introductory promotions. Take notes.
• Call the ''Cancel Service Department'' of your cable company with details about lower prices or discounts elsewhere. Be honest and be prepared with actual names and numbers, Tosetti said. It won't pay to lie.
• Be persistent. Don't accept ''no'' on the first phone call. Repeat calls may yield a customer representative or manager more receptive to your comparison shopping. Plus, companies periodically run special promotions.
• Bundle it up. Consider packaged deals that include Internet and cable access. Shop around and compare costs.
• And finally, know yourself. Tosetti and her husband love the History Channel and HBO, but have little use for premium sports channels. Therefore, she tailors and reduces her cable expenditures to match her tastes. Launch your own television audit to eliminate cable waste.
''Of course, don't pay for what you don't use and watch out: the small screen is an incubator for body rot,'' wrote Alberen.
Friday, July 28, 2006
Eating Better, Eating For Less
At a recent Yoga class, the personal trainer --Angela Fischetti--who teaches our class urged us to eat more fruits and vegetables.
On a long-term basis, consumption of fruits and vegetables ultimately save money by perserving your financial and physical health. [better health = lower health bills]
Toward that end, I've found these frugal tips for getting more fruit into your diet, while saving money over the long and short-term.
These tips are from (PBH), Produce for Better Health Foundation. My personal favorite is the frozen grape tip, a trick we use regularly in our home.
For instance, PBH suggests:
For the Lunch Box:
* Pack dried fruit instead of candy.
* Pack some chopped veggies (like carrots or celery) and a cup of low-fat dressing for dipping; many stores now offer pre-packaged vegetables, making preparation a snap.
* Pack 100% fruit or vegetable juice in a squirt bottle instead of the usual sports drink or soda.
* Add tomatoes and lettuce to sandwiches to pack a healthy punch.
* Make it a peanut butter, banana, and honey sandwich instead of the usual PB&J.
For a Snack at Home:
* Make “Ants On A Log,” a popular combination of celery, peanut butter and raisins.
* Create a colorful fruit salad with all of their favorite fruits. Hint: let them pick out their favorite fruits and vegetables at the supermarket.
* Blend fresh, frozen or canned fruit into a cup of yogurt.
* Draw a picture. Use broccoli florets for trees, carrots, and celery for flowers, cauliflower for clouds, and a yellow squash for a sun. Or, include a message like “I ‘heart’ U” written with a banana as an “I”, a strawberry as the heart, and cantaloupe as the “U.”
* Keep fruit and vegetable treats in the fridge for a quick “grab and go.”
*Take 30 minutes and plan a weekly menu and a “healthy” shopping list.
*Allow your child to select a new fruit or vegetable at the grocery store – make them part of the process.
* Keep a bowl of fruit in the fridge ready for the grab and go crowd.
Eating At Restaurants:
* Make dessert a fruit salad instead of a brownie.
* Switch from French fries to cut fruit or fresh vegetables if available.
* Instead of soda, ask for 100 percent juice.
* Start the meal with a salad or a fruit salad, incorporating as many colors as possible – ask for extra veggies.
* Forget the supersize!
Eating Healthy While Traveling:
* If traveling by car, bring your own food in a small cooler and/or a picnic basket. Find a nice place to stop along the way for a picnic. Not only are you able to control what you eat, but you also save time and money while enjoying quality family time.
* Keep an assortment of dried fruit handy for snacking instead of candy. It will satisfy your sweet tooth while providing disease-fighting antioxidants. Better yet, mix your own trail mix with dried fruit, mixed nuts and sunflower seeds. Portion into zip lock bags or small plastic containers and keep in a basket so they are ready to go when you are.
* Bring individually packed single servings of pre-cut baby carrots and celery in re-sealable bags to snack on along the way. Use small re-sealable containers to pack dips such as ranch dressing, pimento cheese and peanut butter.
* Freeze grapes the night before so that they are nice and cool for the trip. They make great bite-size snacks.
* For convenience, pick up pre-packaged fruit slices or vegetables at your local grocery store. Some even come in their own containers with utensils and dipping sauces!
* Many fast food restaurants offer fruit and vegetable options instead of fries for guilt-free on the go. You can also usually add on a side salad or fruit cup for an additional serving of fruits or vegetables.
* As an appetizer, order a salad with low fat dressing or oil and vinegar.
* Switch to low fat milk from soda or drink tea with one sugar or sweetener.
* Remember that raisins do count as a fruit – pick some up when you stop for gas for a nutritious pick-me-up.
* Opt for tomato juice or V8 on the plane.
* Order a small size fruit smoothie at the smoothie bar.
Tips to help Americans eat more fruits and vegetables for a fraction of the cost:
* Buy canned fruits and vegetables – they only cost an average of nine cents an ounce.
* Buy frozen fruits and vegetables – they only cost an average of 20 cents an ounce.
* When you are purchasing fruits and vegetables, make sure that you consider the price per pound compared to the price per pound of other foods.
* Consider serving size as an indicator of price – often times serving sizes are smaller than people assume and you actually get more servings for less money with fruits and vegetables.
On a long-term basis, consumption of fruits and vegetables ultimately save money by perserving your financial and physical health. [better health = lower health bills]
Toward that end, I've found these frugal tips for getting more fruit into your diet, while saving money over the long and short-term.
These tips are from (PBH), Produce for Better Health Foundation. My personal favorite is the frozen grape tip, a trick we use regularly in our home.
For instance, PBH suggests:
For the Lunch Box:
* Pack dried fruit instead of candy.
* Pack some chopped veggies (like carrots or celery) and a cup of low-fat dressing for dipping; many stores now offer pre-packaged vegetables, making preparation a snap.
* Pack 100% fruit or vegetable juice in a squirt bottle instead of the usual sports drink or soda.
* Add tomatoes and lettuce to sandwiches to pack a healthy punch.
* Make it a peanut butter, banana, and honey sandwich instead of the usual PB&J.
For a Snack at Home:
* Make “Ants On A Log,” a popular combination of celery, peanut butter and raisins.
* Create a colorful fruit salad with all of their favorite fruits. Hint: let them pick out their favorite fruits and vegetables at the supermarket.
* Blend fresh, frozen or canned fruit into a cup of yogurt.
* Draw a picture. Use broccoli florets for trees, carrots, and celery for flowers, cauliflower for clouds, and a yellow squash for a sun. Or, include a message like “I ‘heart’ U” written with a banana as an “I”, a strawberry as the heart, and cantaloupe as the “U.”
* Keep fruit and vegetable treats in the fridge for a quick “grab and go.”
*Take 30 minutes and plan a weekly menu and a “healthy” shopping list.
*Allow your child to select a new fruit or vegetable at the grocery store – make them part of the process.
* Keep a bowl of fruit in the fridge ready for the grab and go crowd.
Eating At Restaurants:
* Make dessert a fruit salad instead of a brownie.
* Switch from French fries to cut fruit or fresh vegetables if available.
* Instead of soda, ask for 100 percent juice.
* Start the meal with a salad or a fruit salad, incorporating as many colors as possible – ask for extra veggies.
* Forget the supersize!
Eating Healthy While Traveling:
* If traveling by car, bring your own food in a small cooler and/or a picnic basket. Find a nice place to stop along the way for a picnic. Not only are you able to control what you eat, but you also save time and money while enjoying quality family time.
* Keep an assortment of dried fruit handy for snacking instead of candy. It will satisfy your sweet tooth while providing disease-fighting antioxidants. Better yet, mix your own trail mix with dried fruit, mixed nuts and sunflower seeds. Portion into zip lock bags or small plastic containers and keep in a basket so they are ready to go when you are.
* Bring individually packed single servings of pre-cut baby carrots and celery in re-sealable bags to snack on along the way. Use small re-sealable containers to pack dips such as ranch dressing, pimento cheese and peanut butter.
* Freeze grapes the night before so that they are nice and cool for the trip. They make great bite-size snacks.
* For convenience, pick up pre-packaged fruit slices or vegetables at your local grocery store. Some even come in their own containers with utensils and dipping sauces!
* Many fast food restaurants offer fruit and vegetable options instead of fries for guilt-free on the go. You can also usually add on a side salad or fruit cup for an additional serving of fruits or vegetables.
* As an appetizer, order a salad with low fat dressing or oil and vinegar.
* Switch to low fat milk from soda or drink tea with one sugar or sweetener.
* Remember that raisins do count as a fruit – pick some up when you stop for gas for a nutritious pick-me-up.
* Opt for tomato juice or V8 on the plane.
* Order a small size fruit smoothie at the smoothie bar.
Tips to help Americans eat more fruits and vegetables for a fraction of the cost:
* Buy canned fruits and vegetables – they only cost an average of nine cents an ounce.
* Buy frozen fruits and vegetables – they only cost an average of 20 cents an ounce.
* When you are purchasing fruits and vegetables, make sure that you consider the price per pound compared to the price per pound of other foods.
* Consider serving size as an indicator of price – often times serving sizes are smaller than people assume and you actually get more servings for less money with fruits and vegetables.
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