What keeps me up late at night? In addition to worrying about past mistakes and my kids and my work, I worry about becoming a bag lady. And I have plenty of company; a lot of women (and I imagine some men also) have secret fears about living on the streets without money or sanity. Even Oprah and other successful women have 'fessed up to bag lady fears.
My anti-bag lady strategy involves careful planning. Here's what my plans inlcude:
1) Passive income: Basically, I'm trying to establish income sources that will work for me when I'm sleeping. This includes: publishing royalties, ad income from my blog and eventually investments. My goal: to make my money work for me.
2) Diverse client base: As a free-lance writer, I like having a diverse mix of clients. When I first started out, I was overly dependent on one large client (a trade business publication). That one client represented about 80 percent of my revenue and when that client opted to turn my post into an inhouse position, I was left scrambling. Now I'm more savvy about mixing it up.
3) Get an advanced degree: I've started a masters program at a local university. It's a big crunch in terms of money and time. But I'm having a good time. Besides, I'd like to teach on a university level. I've taught teenagers, but I prefer college students. But in order to do that I need an advanced degree.
4) Cutting back on clothes. I love clothes. I could live in Ann Taylor Loft and Anthropologie. But pretty clothes can't buy me financial security. I've been reading a great book, Why Women Earn Less by Mikelann Valterra. In the book, the author describes how she and her toddler son once encountered a fashionably dressed woman who was picking through the trash. The pretty woman was a bag lady, with great clothes but no home. Now that's one of my nightmares, namely to be very poor, very crazy and very well dressed.
5) Staying in excellent health: I'm obsessesed about staying fit with yoga, exercise, meditation, fruit/veggies, vitamins and a positive attitude. I'm hoping that preventive care will save me money in the long run.
6) Give to charity: It sounds weird, but I believe that by giving away a portion of my money, I'm creating positive karma/energy that's good for me in the long run. Maybe giving just makes me feel better about myself and when I feel better about myself, I work harder & earn more.
Bottom line: If I give money to bag ladies (charities, etc), maybe I won't become one.
7) Prayer: Master of the Universe, please don't let me be a bag lady!
8) The friends & family network. Of course, I call them because I love them all so much. But I also know that they love me so much and they'll keep me from slipping off the curb of life. Each one, teach one. Each one, reach one.
9)Teaching my children: I figure that if I raise my kids to be responsible, loving adults then they will take care of me when I'm older. Oh yeah, and I have to teach them about financial planning.
10) A sense of humor. Listen, if I'm going to be a bag lady at least let me have a good time. Besides, in the here-and-now, good humor creates good karma which pays handsome dividends in the long run.
______________
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Sunday, November 18, 2007
Saturday, November 17, 2007
My Favorite Posts of the Week
Lots of good reading this week in the world of Personal Finance. Here are a few of the posts that caught my eye. Also I lenjoy pfblogs.org.
From The Dough Roller: How To Find Healing From A Deep Financial Wound: (I loved, loved this very touching, very thoughtful post with lots of great insights about money, love and relationships.)
From The 100 By 30 Project : Things I wouldn't have known if not channel surfing between football games
From No Credit Needed: If You Get Your Paycheck A Few Weeks Early - Be Careful!
______________
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From The Dough Roller: How To Find Healing From A Deep Financial Wound: (I loved, loved this very touching, very thoughtful post with lots of great insights about money, love and relationships.)
Time: You’ve probably heard the saying, “Time heals all wounds.” Don’t believe
it. In fact, time can make wounds even deeper if we let it. But what time does
give us is more experience, which in turn gives us more wisdom and understanding.
From Frugal For Life: Defying the HOA to Line Dry: (As a reporter, I've covered several stories about homeowners who have battled neighborhood associations and homeowner associations. One couple that I wrote aabout was sent into foreclosure for failure to pay HOA fines or dues. So this story posted on Dawn's FFL blog really peaked my interest.)
A recent article in the Wall Street Journal gave an account of Susan Taylor
defying the home owner's association to hang her laundry
From The 100 By 30 Project : Things I wouldn't have known if not channel surfing between football games
From No Credit Needed: If You Get Your Paycheck A Few Weeks Early - Be Careful!
From Chief Family Officer: Top 10 Ways I Save Money
From Boston Gal's Open Wallet: Chris and Meg Reis are 28 & 29 and $700,000 in debt
______________
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Friday, November 16, 2007
My Favorite Picks from the 100th Festival of Frugality
Dawn of Frugal for Life has rocked out an excellent edition of the 100th Festival of Frugality. It was all good, but here are a few of my favorite posts from that carnival.
The Wastrel Show - Your Health: Most Valuable Asset!
Redomestication - My #1 Tip To Stop Impulse Buying
Philaahzophy - A Bathroom Full Of Cash - Top 5 Tips For Saving
Investing Lessons - Simple Frugality – Conservation
Millionaire Mommy Next Door - Renting beats owning, even in retirement
A Penny Closer - Moving Is Helping Us Simplify
Thanks Dawn for including one of my posts in the roundup.
The Frugal Duchess - Tagging Seasonal Electronic Sales and Ripoffs
______________
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The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
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__
The Wastrel Show - Your Health: Most Valuable Asset!
Redomestication - My #1 Tip To Stop Impulse Buying
Philaahzophy - A Bathroom Full Of Cash - Top 5 Tips For Saving
Investing Lessons - Simple Frugality – Conservation
Millionaire Mommy Next Door - Renting beats owning, even in retirement
A Penny Closer - Moving Is Helping Us Simplify
Thanks Dawn for including one of my posts in the roundup.
The Frugal Duchess - Tagging Seasonal Electronic Sales and Ripoffs
______________
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The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
Thursday, November 15, 2007
Hacking the Season for Holiday Deals: From Wired Magazine
My dear friend Ellen sent me a link to a great holiday shopping piece from Wired Magazine. It's about finding the best deals online.
My friend is a maven saver and I take her recommendations seriously. Here's the link for
How to Hack the Holidays and Score the Best Deals Online
Here's a short quote from the piece by Terrence Russell
"The onset of the holiday shopping season is as inevitable as death and taxes. However, unlike death and taxes, the stress associated with shopping can be minimized with a few nifty shopping hacks. You just have to understand the marketing and pricing strategies employed by most online retailers. "
______________
The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
My friend is a maven saver and I take her recommendations seriously. Here's the link for
How to Hack the Holidays and Score the Best Deals Online
Here's a short quote from the piece by Terrence Russell
"The onset of the holiday shopping season is as inevitable as death and taxes. However, unlike death and taxes, the stress associated with shopping can be minimized with a few nifty shopping hacks. You just have to understand the marketing and pricing strategies employed by most online retailers. "
______________
The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
Wednesday, November 14, 2007
Cheap Skin Tips from Doctors: Less is Really More!
Speakers at a national medical conference at the University of Miami offered very frugal tips about skin care: Bottom Line: Don't spend so much money on personal care products. Less is really more. Pure water frequently cleans better than soap!
"From the Experts: Top Skin Care Tips
When the Skin Academy presenters were asked for their top skin care tips, the responses offered a glimpse at the kind of expert care that dermatologists provide their patients every day. These include:
-- Use Soap on Select Areas of the Body to Avoid Dryness -- "Unless you
have really oily skin, because you are a teenager or work with oils or gases, you do not need soap to get yourself clean. Pure water does the job to get you clean. However, you do need to use soap on your face, under your arms, and in the groin area. As you get older, the use of
soap on the rest of your body can unnecessarily dry your skin." -- Brian B. Adams, MD, MPH, FAAD, associate professor of dermatology, University of Cincinnati, Cincinnati, Ohio; director of dermatology, Veterans Administration Medical Center, Cincinnati, Ohio.
-- Don't Smoke! It Causes Wrinkles -- "Quit smoking or, better yet, don't even start! More and more young people are smoking and doing so to relieve stress, but it's bad for your skin and causes wrinkles. Deep-set wrinkles will appear around your mouth from puckering, your
skin will be dehydrated and dull, and you may experience premature aging." -- Flor A. Mayoral, MD, FAAD, clinical instructor, departments of dermatology and cutaneous surgery, University of Miami's Miller School of Medicine, Miami, Fla.
-- Wear Sunscreen! It Prevents Wrinkles -- "Use sunscreen every day, preferably one with a Sun Protection Factor (SPF) of at least 15 that provides broad-spectrum protection from both ultraviolet A (UVA) and ultraviolet B (UVB) rays. Today, many skin care products contain
sunscreen and are multifunctional, which allows you to get many skin benefits from one application. This saves time and money. For example, to protect and maintain healthy skin, use a daily facial moisturizer containing sunscreen. You also can find body lotions that contain sunscreen. These products can help hydrate and protect your skin, especially areas of your body that are sun-exposed throughout the day -- like your hands." -- Sandra I. Read, MD, FAAD, instructor of dermatology, Georgetown University School of Medicine, Washington, D.C.
-- Your Skin Reflects What You Eat -- "What you apply to your skin helps give it a healthy, radiant glow, but remember what you put into your body is just as important. A balanced diet rich in vitamins and antioxidants can make a real difference in the appearance of your skin." -- Susan C. Taylor, MD, FAAD, assistant clinical professor of dermatology, College of Physicians and Surgeons, Columbia University, New York, N.Y.; clinical assistant professor of dermatology and associate faculty, School of Medicine, University of Pennsylvania,
Philadelphia, Pa.
-- Do As Little As Possible to Your Hair -- "When it comes to hair care, less is more. Using unnecessary products or subjecting the hair to repeated procedures -- such as perms, coloring, waving or straightening -- can damage the hair and lead to breakage. Although women use these things to improve the cosmetic appearance of their hair, in the long run they will inevitably cause the hair to lose some of its natural luster and look unhealthy. I advise my patients to do as little as possible to their hair, which will help keep it healthy." -- Zoe D.
Draelos, MD, FAAD, private practice, High Point, N.C.
For more information on common skin conditions and the latest cosmetic procedures for aging skin, go to http://www.skincarephysicians.com/, a Web site developed by dermatologists that provides patients with up-to-date information on the treatment and management of disorders of the skin, hair and nails.
Headquartered in Schaumburg, Ill., the American Academy of Dermatology (Academy), founded in 1938, is the largest, most influential, and most representative of all dermatologic associations. For more information, contact the Academy at 1-888-462-DERM (3376) or http://www.aad.org/.
Source: American Academy of Dermatology "
---------------------
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The Poetry & Drama Queen
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"From the Experts: Top Skin Care Tips
When the Skin Academy presenters were asked for their top skin care tips, the responses offered a glimpse at the kind of expert care that dermatologists provide their patients every day. These include:
-- Use Soap on Select Areas of the Body to Avoid Dryness -- "Unless you
have really oily skin, because you are a teenager or work with oils or gases, you do not need soap to get yourself clean. Pure water does the job to get you clean. However, you do need to use soap on your face, under your arms, and in the groin area. As you get older, the use of
soap on the rest of your body can unnecessarily dry your skin." -- Brian B. Adams, MD, MPH, FAAD, associate professor of dermatology, University of Cincinnati, Cincinnati, Ohio; director of dermatology, Veterans Administration Medical Center, Cincinnati, Ohio.
-- Don't Smoke! It Causes Wrinkles -- "Quit smoking or, better yet, don't even start! More and more young people are smoking and doing so to relieve stress, but it's bad for your skin and causes wrinkles. Deep-set wrinkles will appear around your mouth from puckering, your
skin will be dehydrated and dull, and you may experience premature aging." -- Flor A. Mayoral, MD, FAAD, clinical instructor, departments of dermatology and cutaneous surgery, University of Miami's Miller School of Medicine, Miami, Fla.
-- Wear Sunscreen! It Prevents Wrinkles -- "Use sunscreen every day, preferably one with a Sun Protection Factor (SPF) of at least 15 that provides broad-spectrum protection from both ultraviolet A (UVA) and ultraviolet B (UVB) rays. Today, many skin care products contain
sunscreen and are multifunctional, which allows you to get many skin benefits from one application. This saves time and money. For example, to protect and maintain healthy skin, use a daily facial moisturizer containing sunscreen. You also can find body lotions that contain sunscreen. These products can help hydrate and protect your skin, especially areas of your body that are sun-exposed throughout the day -- like your hands." -- Sandra I. Read, MD, FAAD, instructor of dermatology, Georgetown University School of Medicine, Washington, D.C.
-- Your Skin Reflects What You Eat -- "What you apply to your skin helps give it a healthy, radiant glow, but remember what you put into your body is just as important. A balanced diet rich in vitamins and antioxidants can make a real difference in the appearance of your skin." -- Susan C. Taylor, MD, FAAD, assistant clinical professor of dermatology, College of Physicians and Surgeons, Columbia University, New York, N.Y.; clinical assistant professor of dermatology and associate faculty, School of Medicine, University of Pennsylvania,
Philadelphia, Pa.
-- Do As Little As Possible to Your Hair -- "When it comes to hair care, less is more. Using unnecessary products or subjecting the hair to repeated procedures -- such as perms, coloring, waving or straightening -- can damage the hair and lead to breakage. Although women use these things to improve the cosmetic appearance of their hair, in the long run they will inevitably cause the hair to lose some of its natural luster and look unhealthy. I advise my patients to do as little as possible to their hair, which will help keep it healthy." -- Zoe D.
Draelos, MD, FAAD, private practice, High Point, N.C.
For more information on common skin conditions and the latest cosmetic procedures for aging skin, go to http://www.skincarephysicians.com/, a Web site developed by dermatologists that provides patients with up-to-date information on the treatment and management of disorders of the skin, hair and nails.
Headquartered in Schaumburg, Ill., the American Academy of Dermatology (Academy), founded in 1938, is the largest, most influential, and most representative of all dermatologic associations. For more information, contact the Academy at 1-888-462-DERM (3376) or http://www.aad.org/.
Source: American Academy of Dermatology "
---------------------
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The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
Tuesday, November 13, 2007
How to Avoid Spending $923.76 on Holiday Gifts
This guest piece about holiday spending is excellent, including the tip about earning more during the year-end holiday rush:"The average consumer plans to spend $923.36 this holiday season, according to the National Retail Federation (NRF). Challenging economic conditions and a bleak
housing market will cause many consumers to be more conservative with their
holiday spending, but many others will find themselves struggling to pay holiday
debt well into spring and beyond.
“Nothing takes the joy out of the season faster than overwhelming debt,” said Jessica Cecere, president of Consumer Credit Counseling Service (CCCS) of Palm Beach County and the Treasure Coast.“Plan carefully, shop wisely, and don’t lose sight of what is truly important during the holidays—quality time with family and friends.”
Extra Income. Increasing your income during the holiday season is a great way to avoid accumulating debt that you may spend months paying off. According to the NRF, almost 600,000 seasonal jobs will be available in November and December. Working a few evenings a week or weekends can provide the additional money you will need to buy gifts for family and friends without overextending yourself or your
budget.
CCCS offers other tips to help consumers this holiday season:
Budget before you shop Deciding what you can spend before you hit the
mall can save you in the long run, especially if you plan to make purchases with
cash instead of credit. Along with gifts, be sure to include decorations,
wrapping and cards, and entertainment when developing your holiday budget. If
you will be traveling this holiday season, don’t forget to include the cost of
travel, gasoline, airfare, hotel stays, meals and entertainment.Make a list and check it twice Make a list of all the people you want to buy gifts for and note the amount you would like to spend on each person, making sure that your total does not exceed the spending limit you established. If it does, review and
revise the list until you are within your budget. If you track your purchases as
you make them, you might find you save money on some gifts and have more to
allocate to others on your list.Do your homework and shop around Retailers already have a full array of holiday items on display, and many have already started offering discounts to encourage consumers to buy. By getting an early start on your holiday shopping, you can take advantage of sales on seasonal items and look for the best prices on items you know you want to buy. In addition to weekly sales papers, use online comparison shopping sites to find the best prices. Sites such as
www.pricegrabber.com, www.bizrate.com, and www.mysimon.com compare the prices of multiple retailers on the same item.You can then order items online or purchase them locally. Before you buy, search for discounts— www.couponcabin.com is a great resource for coupon codes that can save you shipping charges or a percentage off your total purchase. Have an expired coupon for a favorite retailer? Many will honor coupons long past the expiration date—be sure to ask. Don’t rule out non-traditional retailers—thrift stores, discount stores, consignment shops, and specialty stores might have just what you’re looking for at a much lower price.
Use credit wisely—or not at all Avoid using credit cards to make holiday purchases, especially if you are not able to pay the balance in full at the end of the month. Spending more than you have budgeted is much more likely if you are using credit cards, especially if you’re rushed for time and feeling the stress of holiday shopping. Leaving your credit cards at home will help ensure that you will stick to your budget, even if it means spending a little more time looking for the right gift.
If you do use credit cards for holiday shopping, keep a running tally of what you have spent and deduct it from your checking account balance. Incorporating these purchases into your budget will help ensure you don’t overspend.
Give back to others If money is extremely tight, you may want to give back to others, which is truly what the holidays are all about. You and your family may want to volunteer at a food bank, church, shelter or hospital instead of worrying about purchasing gifts.
Make your own gifts For families with relatives who live out of town, children can make a scrapbook that includes test paper, pictures of their favorite activity, a drawing or painting that they made just for the relative. And the scrapbook can contain an area to place little notes by the picture describing the event or the occasion. In addition, children can make a personal card for their grandparents/or relatives instead of purchasing a card. These sentimental gifts mean so much more than purchasing a bathrobe or something like that." -- CCCS
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Monday, November 12, 2007
Tagging Seasonal Electronic Sales and Ripoffs
If you're in the market for a new television set or a home theater system, there will be plenty of deals between now and year-end, according to Robert Silva, a California-based electronics and home theater expert.
''There's a lot of price competition going on just before the holidays,'' Silva said in a phone interview. He is the author of an electronics guide (hometheater.about.com) and the home theater expert for About.com, an affiliate service from The New York Times.
But do your homework before you shop and watch out for the door-buster promotions, which are super-low deals for inferior merchandise. Some dubious promotions (a 27-inch television for $129 or a DVD player for $30) may not offer the quality or features that you want. 'You need to ask yourself if it is really worth it to get up before dawn the day after Thanksgiving to do battle with the 'bargain grabbers' for first crack at something you may just need to get in another long line to return the day after Christmas,'' Silva wrote in his 2007 Holiday Shopping Survival Guide for home entertainment products.
Meanwhile, on the bargain front, Wal-Mart and Circuit City have already begun to sell high-definition DVD players for less than $200. And based on early promotions, Silva expects price wars on plasma and LCD television sets on Black Friday, the first shopping day after Thanksgiving.
Home theater systems can be sold separately or as a theater-in-a-box set, including speakers, a monitor, DVD player and connecting wires. With prices ranging from $200 to $2,000, the boxed sets can save shopping time and money.
Don't spend on technology that will soon be obsolete, Silva cautions. For example, starting Feb. 17, 2009, television shows will only be broadcast through digital technology. Television sets that depend on rabbit ears or outdoor antennas will no longer be able to pick up signals. And while converter boxes will be available for the older analog television sets, he recommends replacing aging sets with newer models as sales are offered.
If you have a library of videocassette tapes, consider buying a combination DVD/VCR player. Prices for these units have fallen significantly in the last few years to about $120, compared to initial prices of $2,000 and up.
This is from my latest column in the home & design section of the Miami Herald.
Here are a few helpful links:
Top Home Theater Products for Holiday Shoppers - 2007 Edition
http://hometheater.about.com/od/toppicks/tp/xmastps.htm
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What's Hot and Not For The Holidays - 2007
http://hometheater.about.com/cs/consumerresources/a/aahotnota.htm
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Home Theater Holiday Shopping Survival Guide
http://hometheater.about.com/cs/beforeyoubuy/a/aaholidayshopa.htm
______________
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Book Shop of Fear
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''There's a lot of price competition going on just before the holidays,'' Silva said in a phone interview. He is the author of an electronics guide (hometheater.about.com) and the home theater expert for About.com, an affiliate service from The New York Times.
But do your homework before you shop and watch out for the door-buster promotions, which are super-low deals for inferior merchandise. Some dubious promotions (a 27-inch television for $129 or a DVD player for $30) may not offer the quality or features that you want. 'You need to ask yourself if it is really worth it to get up before dawn the day after Thanksgiving to do battle with the 'bargain grabbers' for first crack at something you may just need to get in another long line to return the day after Christmas,'' Silva wrote in his 2007 Holiday Shopping Survival Guide for home entertainment products.
Meanwhile, on the bargain front, Wal-Mart and Circuit City have already begun to sell high-definition DVD players for less than $200. And based on early promotions, Silva expects price wars on plasma and LCD television sets on Black Friday, the first shopping day after Thanksgiving.
Home theater systems can be sold separately or as a theater-in-a-box set, including speakers, a monitor, DVD player and connecting wires. With prices ranging from $200 to $2,000, the boxed sets can save shopping time and money.
Don't spend on technology that will soon be obsolete, Silva cautions. For example, starting Feb. 17, 2009, television shows will only be broadcast through digital technology. Television sets that depend on rabbit ears or outdoor antennas will no longer be able to pick up signals. And while converter boxes will be available for the older analog television sets, he recommends replacing aging sets with newer models as sales are offered.
If you have a library of videocassette tapes, consider buying a combination DVD/VCR player. Prices for these units have fallen significantly in the last few years to about $120, compared to initial prices of $2,000 and up.
This is from my latest column in the home & design section of the Miami Herald.
Here are a few helpful links:
Top Home Theater Products for Holiday Shoppers - 2007 Edition
http://hometheater.about.com/od/toppicks/tp/xmastps.htm
------
What's Hot and Not For The Holidays - 2007
http://hometheater.about.com/cs/consumerresources/a/aahotnota.htm
-------
Home Theater Holiday Shopping Survival Guide
http://hometheater.about.com/cs/beforeyoubuy/a/aaholidayshopa.htm
______________
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The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
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__
Sunday, November 11, 2007
My Battle Between Short-Term Gains vs Long-Term Values
In the past I've balanced the challenge of potentially lucrative projects against the here-and-now pay-off of smaller short-term, sure-thing projects. I've lost opportunities to score runs on possible grand-slam opportunities because I've needed the instant cash of small assignments or projects.
So my life is a constant battle: Big-time/long-term projects (which require steady nurturing) versus earn-money-now assignments. I've not conquered this matrix. But here are a few of the tools and filters, I'm trying to use as I navigate my way through the maze of financial and professional achievement.
1. What is the time horizon? I'm working on a collection of short-stories. Any payoff (publication and fees) is a long way off. I've been working on the stories for over a year and I'm giving myself at least another year to finish. Really, (between you and me), it's a fictional goal in all senses of the word, but recognizing it as a long-term project helps me to accept the delayed gratification.
2. Can my long-term goal be accomplished in bite-sized pieces?I learned a valuable lesson about time when I was working on my financial memoir book: The Frugal Duchess of South Beach (May 2008/DPL Press). I completed the book while still handling my other professional responsibilities.
Sometimes I wrote all day, but other times I worked on the book in one-hour, two-hour and four-chunks of time. By slow and steady effort, I was able to complete the manuscript without sacrificing too much of my other income. There is, I discovered, a lot of value in bite-sized pieces of time and effort.
I've applied those same lessons to my short-story project: Small goals and steady progress.
3. What am I willing to give up? My housework and my weight suffered while I juggled my short and long-term goals. My apartment looked messy; I gained weight and I lost a few free-lance projects while I cranked out copy. But I kept my eye on the greater good. And now I'm working hard and working out to make up for lost opportunities and gained pounds.
I'm getting back to a decent weight; my house looks better and I've been trying to make nice with all of the editors I ignored while chasing my dream.
Bottom line: There is no bottom line. I'm just making up the rules as I go along. But I understand that there will always be a struggle between delayed gratification and short-term demands. Meanwhile, I'm looking for ideas and solutions from others.
Please email me at Sharonhr@bellsouth.net or leave a comment if you have tips about financial and career management. I want to hear from you.
______________
The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
So my life is a constant battle: Big-time/long-term projects (which require steady nurturing) versus earn-money-now assignments. I've not conquered this matrix. But here are a few of the tools and filters, I'm trying to use as I navigate my way through the maze of financial and professional achievement.
1. What is the time horizon? I'm working on a collection of short-stories. Any payoff (publication and fees) is a long way off. I've been working on the stories for over a year and I'm giving myself at least another year to finish. Really, (between you and me), it's a fictional goal in all senses of the word, but recognizing it as a long-term project helps me to accept the delayed gratification.
2. Can my long-term goal be accomplished in bite-sized pieces?I learned a valuable lesson about time when I was working on my financial memoir book: The Frugal Duchess of South Beach (May 2008/DPL Press). I completed the book while still handling my other professional responsibilities.
Sometimes I wrote all day, but other times I worked on the book in one-hour, two-hour and four-chunks of time. By slow and steady effort, I was able to complete the manuscript without sacrificing too much of my other income. There is, I discovered, a lot of value in bite-sized pieces of time and effort.
I've applied those same lessons to my short-story project: Small goals and steady progress.
3. What am I willing to give up? My housework and my weight suffered while I juggled my short and long-term goals. My apartment looked messy; I gained weight and I lost a few free-lance projects while I cranked out copy. But I kept my eye on the greater good. And now I'm working hard and working out to make up for lost opportunities and gained pounds.
I'm getting back to a decent weight; my house looks better and I've been trying to make nice with all of the editors I ignored while chasing my dream.
Bottom line: There is no bottom line. I'm just making up the rules as I go along. But I understand that there will always be a struggle between delayed gratification and short-term demands. Meanwhile, I'm looking for ideas and solutions from others.
Please email me at Sharonhr@bellsouth.net or leave a comment if you have tips about financial and career management. I want to hear from you.
______________
The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
Saturday, November 10, 2007
My Favorite Picks from the 99th Festival of Frugality
The 99th Festival of Frugality is hosted this week by I’ve Paid For This Twice Already. (An excellent host!) Here are my favorite picks from that carnival:
Frugal Goal Setting from Frugal Journey.
If I Won’t Use It Frequently, I Don’t Buy It from My Wealth Builder.
Do Vacations Spoil Everyday Budgeters? from Less Than a Shoestring.
Ten Free Things to Do at the Mall from SavingAdvice.com Blog.
How to Develop the Habit of Spending Less Than You Make from The Dough Roller.
Bartering With The Great Pumpkin: Our daughter learns how to make a trade from Millionaire Mommy Next Door.
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The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
Frugal Goal Setting from Frugal Journey.
If I Won’t Use It Frequently, I Don’t Buy It from My Wealth Builder.
Do Vacations Spoil Everyday Budgeters? from Less Than a Shoestring.
Ten Free Things to Do at the Mall from SavingAdvice.com Blog.
How to Develop the Habit of Spending Less Than You Make from The Dough Roller.
Bartering With The Great Pumpkin: Our daughter learns how to make a trade from Millionaire Mommy Next Door.
______________
The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
Friday, November 09, 2007
Anti-Theft Tips for Homes
Another home in our neighborhood was robbed. The burglar entered through an unlocked window.
Following the crime report, our neighborhood watch group has issued a few easy and low-cost safety tips. The last tip about background noise makes a lot of sense to me. I highly recommend a dog as well. Our dog is small-ish but he has a big bark and can seem menacing to strangers. (He's sweet to kids.)
Here are the tips:
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Following the crime report, our neighborhood watch group has issued a few easy and low-cost safety tips. The last tip about background noise makes a lot of sense to me. I highly recommend a dog as well. Our dog is small-ish but he has a big bark and can seem menacing to strangers. (He's sweet to kids.)
Here are the tips:
- "Be sure to lock all doors and windows prior to leaving your home.
- If you have an alarm system, please make sure you turn it on and use it.
- If you plan to be away overnight, use timers on your lighting fixtures and stop your mail and newspaper deliveries.
- Ask a neighbor to keep an eye on your home when going out of town.
- Consider leaving a radio or television on when going out. The sound will give the impression that someone is home. "
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Frugal Jazz & Blues
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Thursday, November 08, 2007
Author Offers Great Tips for Thrifty Holiday Shopping
Here's a guest column with excellent tips for frugal holiday shopping:
"Americans already spend more than they can afford," says Eric Tyson, author of the new book Let's Get Real About Money! Profit from the Habits of the Best Personal Finance Managers (FT Press, December 2007, $19.99). "Our national personal savings rate is negative 1 percent. Many people already owe money going into the holiday season so the annual shopping spree just adds insult to injury."
"Americans already spend more than they can afford," says Eric Tyson, author of the new book Let's Get Real About Money! Profit from the Habits of the Best Personal Finance Managers (FT Press, December 2007, $19.99). "Our national personal savings rate is negative 1 percent. Many people already owe money going into the holiday season so the annual shopping spree just adds insult to injury."
- Find an alternative to gift-giving during the holidays. Many people feel they have to give gifts during the holidays, either because it's a family tradition or because they know their friends and relatives have gotten gifts for them. There are plenty of great ways to trade in this tradition for another one that is even more meaningful, and chances are your family and friends will be happy to save gift-buying dough as well. "Instead of exchanging gifts, your family might want to pool their money and spend the money on a holiday outing," says Tyson. "If you have kids, you'll probably want to get them a little something, but set strict spending limits. Instead of piling up the toys, let each child choose an outing or event that she gets to spend with you one-on-one. They'll look back on the valuable time you've spent together a lot more fondly than they will any toy or video game they use a couple of times and then toss aside."
- If you must buy gifts, cut your expenses elsewhere. Perhaps you'd rather dine out or go to the movies less, or maybe you can forego that new pair of shoes you've been wanting for yourself in order to afford gifts for the grandparents. "It doesn't matter where you make cuts, just that you make them," says Tyson. "Keeping your other spending under control while you're out there doing your shopping can be a challenge, but just keep repeating to yourself the importance of not over-spending. That way when it comes time to actually pass out those presents you've purchased you can do it without grimacing as you think about the damage they did to your bank account."
- Set a budget and keep tabs on what you are spending. While you're doing your holiday shopping, your new best friends should be your checkbook register, credit card statements, and all of your receipts. It's easy to get into a spending rhythm when shopping for yourself or others, and that's why you need to physically write down every purchase you make and make sure you don't go over your budget. "When you start to add up everything you're spending, you may be shocked at what all those expenses from this store and that store add up to be," says Tyson. "And don't forget about all those 'necessary' holiday extras. Most people don't budget their shopping and don't realize that by the time you buy all the presents, plus wrapping paper, cards, decorations, etc., it's added up to a ridiculous amount. Having a budget that you know you must stick to will help keep your impulse spending from getting out of hand and will help you hone in on the most reasonably priced holiday items."
- Plan what you are going to buy, and don't get any extras! Particularly during the holidays companies pull out their most appealing of packaging in the hopes of snagging the eyes of shoppers. That's why along with your budget, you're going to want to take an exact list of what you want to buy for your gift recipients. Don't go shopping for someone's gift until you know exactly what you are going to buy. "It's very easy to go in with no plan, see something you like, and get it simply because you have no idea what else to get for a hard-to-buy-for relative despite the gift's significant price tag," says Tyson. "Another temptation that the list will help you squelch is the desire to buy those little knickknacks here and there that you think will make nice small additions to the gifts you've purchased. Very rarely are things like this necessary, and if you've got your list in hand, it will be easier for you to pass them by without hesitation."
- Use the season to set a good example for your kids. Your kids learn about money from you. And if they see you spending left and right during the holiday season, the lesson they come away with isn't going to be a good one. During the holidays it's very easy for the "gimmee gimmee gimmee" materialistic attitude to get out of control. After all, kids are bombarded with constant advertisements for toys, clothes, and the latest gadgets you can be guaranteed they'll want (or at least think they do!). "There's plenty you can do to help them appreciate the true meaning of the holidays," says Tyson. "Have them give some of their money to a local charity, participate in a program where they buy and wrap gifts for underprivileged kids, or volunteer at a soup kitchen. It can be an eye-opening experience for kids to see that not everyone has enough money to have an enjoyable holiday."
- Watch out for deals that seem too good to be true. Retailers run all sorts of specials to induce consumers to buy now, and the holidays offer these companies easy prey in the form of deal-seeking, cash-strapped consumers. For example, furniture stores frequently offer that if you buy now, you don't have to pay a thing for a year, and you might even get free delivery. This sort of "push" marketing can make it harder for you to say no. "This is just one example of how stores coax in shoppers," says Tyson. "Always remember that free financing, for say a year, is not a huge cost to the dealer, but it is a cost, and if you forgo it, you should be able to negotiate a lower purchase price. Retailers find that buyers are less likely to negotiate the price if they are getting a short-term financing break. Read the fine print on any deal you are considering taking before you go to the store to make the purchase. It can be even harder to say no once you get to the store, so you'll want to know what you are in for before you get there."
- Leave the plastic at home. Many of us can explain away spending so much on gifts because we simply charge everything and reason that we can pay it off gradually after the holidays. This is a great way to create a never-ending cycle of consumer debt for yourself. It only creates unnecessary financial stress for you after the holidays. "Use your budget to figure out how you can purchase the gifts you want to purchase without putting them on your credit card," says Tyson. "If you are so cash-strapped that you think it will be difficult to avoid charging gifts, then you may want to sit down with other friends and family and propose a limit to how much gifts can cost this year—or propose no adult gift exchanges at all. Far from being disappointed, it's likely they'll view this reprieve from gift-buying as a gift in its own right."
- Invest in your kids' financial futures. It may not seem as exciting to your kids as a new iPod, but a contribution to their financial well-being will be appreciated long after such expensive "toys" are obsolete. "Have the grandparents contribute to a college tuition fund or savings account rather than buy them more stuff they don't need," suggests Tyson. "Or make one of your gifts to your kids a stock fund portfolio that can start accruing now. Also make them aware of the budgets and tools you are using to keep your spending in check. The holidays are a great time for them to truly learn that money doesn't grow on trees."
- Give the gift of time to your kids. Often parents buy gifts for their kids with the best of intentions. Either you don't want to deprive them of the toys and gadgets all of their friends have, or you want to give them the things you didn't have as a kid. "Both of these tendencies are perfectly understandable, but I've found that parents who buy too much for their kids often have difficulty changing the habit," says Tyson. "The holiday season offers great opportunities for you to show your kids how much you love and care for them. For example, you can make time with them each week to watch a holiday film or TV show, go on a walk to see your neighbors' holiday lights and decorations, or emphasize that giving back message again and take them caroling at a local retirement home. All of these activities cost next to nothing, and they will be fun for the kids and for you!
- Remember that meaningful gifts don't necessarily have a big price tag. "Sure, it might be nice to give your mom a brand new TV, but there are other things out there that will be even more meaningful and enjoyable for her—like a photo album with candid shots of the grandkids or something they've made for her themselves," says Tyson. "If you are looking to give a gift that truly means something and that will keep its value for years to come, you are better off looking for nonmaterial gifts to give than something your gift recipients could get themselves at the local big box store."
- "Money can easily become the focus of the holidays when it should be the last thing you are thinking about," says Tyson. "By keeping your spending under control, you can have a great holiday and avoid the sick feeling in the pit of your stomach that occurs when you start getting those credit card bills in the mail. If you prepare properly, you can achieve a happy balance of spending and saving during the holiday season. That's a great gift in and of itself, for both you and the people you love."
# # #
About the Author:
Eric Tyson, MBA, is one of the nation's best-selling personal finance book authors and has penned five national bestsellers (he is also the only author to have four of his books simultaneously on BusinessWeek's business book bestseller list). His Personal Finance For Dummies (Wiley) won the Benjamin Franklin Award for the Best Business Book of the Year. He is also the author of Investing For Dummies and coauthor of Home Buying For Dummies and Real Estate Investing For Dummies, among other titles.
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The Frugal Duchess of Beauty Store
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The Poetry & Drama Queen
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Wednesday, November 07, 2007
My Thoughts on Most Affordable Places to Live Well
Forbes.com offered this article and list featuring the most affordable cities for fine living based on a matrix of factors including quality of life & dollar value.
It's a good article with a concise slide show summary. Here's the link for the summary: In Pictures: Most Affordable Places To Live Well
If I were to put together, my own point system for targeting affordable cities with great quality of life, I would examine these factors:
1. How are the schools? (public and private). What kind of after-school programs are offered for kids? Are tutors expensive?
2. How is the weather? Pittsburgh ranks in the top 10 of the Forbes list and the city has great cultural institutions and affordable housing. But the weather is very overcast in Pittsburgh, which is located in a valley. I lived there for a couple of years during the early 1980s, and the overcast days depressed me. But I had a lot of great friends that I miss very much. My sister and her husband live there too. Hi Debbie & Frank!
3. Are there discount programs for cultural events? Show tickets in Miami are expensive, but various events have $5 seats for students and super cheap rates for seniors, groups or families. New York City is very expensive, but I enjoyed the free star-studded Shakespeare in the Park presentations in Central Park.
4. How is the public transportation? It's possible to save thousands of dollars a year by using public transportation. Subways and buses save gas, insurance costs, parking and maintenance. But a city without a reliable public transportation system is a no-no in my book.
5. Is there easy access to affordable shopping for food, household trinkets and clothing? I love Miami Beach, but life in a tourist town has challenges. Until recently, we had very few local stores that offered basic life materials (food, clothing, light bulbs). I can't eat postcards and boutique shoes. Therefore, we had to travel quite a distance for the basics. With the arrival of a few big box stores, our quality of life has improved.
6. Bookstores & Great Coffee. I need my books & coffee.
7. Great water views. I feel landlocked without access to an ocean, river or even a canal. I have to have water. I need a Room with a View.
8. Cheap hotels or great promotions. It's great to live in paradise, but if the local hospitality industry is to pricey, no one (out-of-town friends and relatives) can afford to visit you. You'll feel very lonely, especially if your place is not large enough to accommodate guests.
9. A spiritual center: I like a community with a mix of synagogues, yoga teachers and new age spirituality. I can't live in a spiritual desert.
10. Walkways & parks. As a former runner, I've become addicted to walking. I love walk-able cities like NYC and Boston. Miami Beach also offers great paths for walkers.
oh yeah: I need a good sports team and decent sports talk radio. But you can't have everything.
______________
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The list also included: (2) Indianapolis ; (3) Cincinnati ; (4) St. Louis and (5) Houston."First among them: Minneapolis.
It nabbed the top spot on our list of Most Affordable Places To Live Well.
There, homes are relatively affordable, residents enjoy a high quality of life
and access to choice arts, leisure and entertainment offerings."
It's a good article with a concise slide show summary. Here's the link for the summary: In Pictures: Most Affordable Places To Live Well
If I were to put together, my own point system for targeting affordable cities with great quality of life, I would examine these factors:
1. How are the schools? (public and private). What kind of after-school programs are offered for kids? Are tutors expensive?
2. How is the weather? Pittsburgh ranks in the top 10 of the Forbes list and the city has great cultural institutions and affordable housing. But the weather is very overcast in Pittsburgh, which is located in a valley. I lived there for a couple of years during the early 1980s, and the overcast days depressed me. But I had a lot of great friends that I miss very much. My sister and her husband live there too. Hi Debbie & Frank!
3. Are there discount programs for cultural events? Show tickets in Miami are expensive, but various events have $5 seats for students and super cheap rates for seniors, groups or families. New York City is very expensive, but I enjoyed the free star-studded Shakespeare in the Park presentations in Central Park.
4. How is the public transportation? It's possible to save thousands of dollars a year by using public transportation. Subways and buses save gas, insurance costs, parking and maintenance. But a city without a reliable public transportation system is a no-no in my book.
5. Is there easy access to affordable shopping for food, household trinkets and clothing? I love Miami Beach, but life in a tourist town has challenges. Until recently, we had very few local stores that offered basic life materials (food, clothing, light bulbs). I can't eat postcards and boutique shoes. Therefore, we had to travel quite a distance for the basics. With the arrival of a few big box stores, our quality of life has improved.
6. Bookstores & Great Coffee. I need my books & coffee.
7. Great water views. I feel landlocked without access to an ocean, river or even a canal. I have to have water. I need a Room with a View.
8. Cheap hotels or great promotions. It's great to live in paradise, but if the local hospitality industry is to pricey, no one (out-of-town friends and relatives) can afford to visit you. You'll feel very lonely, especially if your place is not large enough to accommodate guests.
9. A spiritual center: I like a community with a mix of synagogues, yoga teachers and new age spirituality. I can't live in a spiritual desert.
10. Walkways & parks. As a former runner, I've become addicted to walking. I love walk-able cities like NYC and Boston. Miami Beach also offers great paths for walkers.
oh yeah: I need a good sports team and decent sports talk radio. But you can't have everything.
______________
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Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
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__
Tuesday, November 06, 2007
Save on Event Parking with Public Transportation & A Miami Heat Financial Lesson
We saved a bundle on parking while attending a recent Miami Heat basketball game at American Airlines Arena. Similar savings are available in other cities. A neighbor gave us two tickets for a Sunday night came versus the Charlotte Bobcats.
To attend the game, my 12-year-old son and I commuted by Miami-Dade Transit bus. Our combined fare: $2.25.
As we approached the arena, the bus driver pointed out the difference between our fare and the parking rates surrounding the arena. At the various lots (formal and make-shift), parking was priced at $15 to $25. Parking inside the arena: $35 to $40.
"See how much you saved," the driver said. "More people should take the bus to the game."
Here are my tips for using public transportation:
1) Check the schedule. Many public transportation systems have either online or phone-based trip planning services, with routes and times. Request return trip information.
2) Look for special-event shuttles. For major events (cultural and sports), the organizers arrange free or low-cost shuttle services at easy access parking lots that are outside of the high-cost, high-traffic event hubs. I have seen shuttles for boat shows, football games, art fairs and other high volume gatherings.
3)Wear comfortable shoes. Public transportation often involves a bit of walking. I feel better about saving money when I'm comfortable.
4) Check out discounts. As a student, my son qualified for a student bus discount. Other discounts are available for senior citizens, veterans and others.
Meanwhile, the Miami Heat lost the game. My team rallied from a 16-point deficit. The fourth-quarter rally came up short, but I learned four financial lessons from the game:
1) Avoid digging yourself into a deep financial hole. It's hard and very stressful to get out of money pits.
2) Once in a financial pit, focus on a slow, steady rebound. Forget quick get-rich, hot dog plays.
3) Don't give up. The fans who walked out of the arena during the middle of the fourth quarter, really missed the best part of the game. The last few minutes were very exciting and the game was really decided in the closing seconds.
4) Keep your eye on the ball. A few sloppy passes cost the Heat the game in the last few seconds. I've had my share of sloppy ball-handling and life really works better when I'm disciplined.
______________
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The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
To attend the game, my 12-year-old son and I commuted by Miami-Dade Transit bus. Our combined fare: $2.25.
As we approached the arena, the bus driver pointed out the difference between our fare and the parking rates surrounding the arena. At the various lots (formal and make-shift), parking was priced at $15 to $25. Parking inside the arena: $35 to $40.
"See how much you saved," the driver said. "More people should take the bus to the game."
Here are my tips for using public transportation:
1) Check the schedule. Many public transportation systems have either online or phone-based trip planning services, with routes and times. Request return trip information.
2) Look for special-event shuttles. For major events (cultural and sports), the organizers arrange free or low-cost shuttle services at easy access parking lots that are outside of the high-cost, high-traffic event hubs. I have seen shuttles for boat shows, football games, art fairs and other high volume gatherings.
3)Wear comfortable shoes. Public transportation often involves a bit of walking. I feel better about saving money when I'm comfortable.
4) Check out discounts. As a student, my son qualified for a student bus discount. Other discounts are available for senior citizens, veterans and others.
Meanwhile, the Miami Heat lost the game. My team rallied from a 16-point deficit. The fourth-quarter rally came up short, but I learned four financial lessons from the game:
1) Avoid digging yourself into a deep financial hole. It's hard and very stressful to get out of money pits.
2) Once in a financial pit, focus on a slow, steady rebound. Forget quick get-rich, hot dog plays.
3) Don't give up. The fans who walked out of the arena during the middle of the fourth quarter, really missed the best part of the game. The last few minutes were very exciting and the game was really decided in the closing seconds.
4) Keep your eye on the ball. A few sloppy passes cost the Heat the game in the last few seconds. I've had my share of sloppy ball-handling and life really works better when I'm disciplined.
______________
The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
Monday, November 05, 2007
The Economics of Towels: Getting Extra Mileage from Terry Cloth
Warm, fluffy towels provide instant comfort and freshen up the decor in a powder room. Unfortunately, after being wrung out and spun dry, my towels often resemble a rag collection. However, there are a few tricks to lengthening their shelf life, according to Stephen Treffinger, resident product tester and technology geek at Domino magazine.
Treffinger tested about 40 brands of towels. He washed each about 12 times, used masking tape to measure lint production and dunked the towels into water to test absorbency. Based on his informal lab, Treffinger developed these rules for washing and drying towels:
• No bleach. ''Heat and bleach both break down a towel and make it meet its end sooner,'' he says. If you're addicted to bleach-whitened towels, only use bleach every few washes.
• Reduce heat. To increase longevity, wash towels in cold or warm water. Then dry at the lowest setting possible.
• Use mild detergents. The owner of a high-end linen store shared this trade secret with Treffinger: For a longer-linen shelf life, wash towels in mild detergents recommended for baby diapers and newborn clothing. Dreft is a baby clothing detergent favored by some textile pros.
• Skip fabric softener. It coats the fibers of the cloth, which makes a towel less absorbent.
• Price isn't everything. Some inexpensive towels are ineffective, stiff or ''linty,'' he says. Meanwhile, some expensive brands are simply overpriced.
''You're not guaranteed that the cheap one will fall apart or the expensive one will last for years,'' Treffinger says. His favorite bargain towel: Thomas O'Brien $9.99 from Target, which was plush and large. The Martha Stewart Everyday (Kmart $3.99 to $7.99) was a runner-up in that category. His favorite plush towel: Abyss & Habidecor ''Super-Pile'' for $68.
Kathryn Finney of the Budget Fashionista (http://www.thebudgetfashionista.com/) buys high-end towels at deep discounts at Marshalls. Ralph Lauren bath sheets that cost $30 each at department stores are $10 at Marshalls, which carries the overstock of that brand.
This is from my latest column in the home & design section of the Miami Herald.
______________
The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
Treffinger tested about 40 brands of towels. He washed each about 12 times, used masking tape to measure lint production and dunked the towels into water to test absorbency. Based on his informal lab, Treffinger developed these rules for washing and drying towels:
• No bleach. ''Heat and bleach both break down a towel and make it meet its end sooner,'' he says. If you're addicted to bleach-whitened towels, only use bleach every few washes.
• Reduce heat. To increase longevity, wash towels in cold or warm water. Then dry at the lowest setting possible.
• Use mild detergents. The owner of a high-end linen store shared this trade secret with Treffinger: For a longer-linen shelf life, wash towels in mild detergents recommended for baby diapers and newborn clothing. Dreft is a baby clothing detergent favored by some textile pros.
• Skip fabric softener. It coats the fibers of the cloth, which makes a towel less absorbent.
• Price isn't everything. Some inexpensive towels are ineffective, stiff or ''linty,'' he says. Meanwhile, some expensive brands are simply overpriced.
''You're not guaranteed that the cheap one will fall apart or the expensive one will last for years,'' Treffinger says. His favorite bargain towel: Thomas O'Brien $9.99 from Target, which was plush and large. The Martha Stewart Everyday (Kmart $3.99 to $7.99) was a runner-up in that category. His favorite plush towel: Abyss & Habidecor ''Super-Pile'' for $68.
Kathryn Finney of the Budget Fashionista (http://www.thebudgetfashionista.com/) buys high-end towels at deep discounts at Marshalls. Ralph Lauren bath sheets that cost $30 each at department stores are $10 at Marshalls, which carries the overstock of that brand.
This is from my latest column in the home & design section of the Miami Herald.
______________
The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
Sunday, November 04, 2007
Blogger Roundup: My Favorite Posts from the Past Week
Here are my favorite posts from the past week:
From Dedicated to Financial Freedom: YOU:Staying Young
From The Simple Dollar: Motivating Yourself to Exercise Without Breaking the Bank
From Vixen On A Budget: Cheap Night In.
From Finance and Fat: Not Frugal- Why do I continue to throw money away?
From Consumerism Commentary: Make the Most Out of Best Buy
From My Two Dollars: Money Mistake Monday - The Oh Crap I Waited To Long To Save For Retirement Syndrome.
From Millionaire Mommy Next Door: Irrational Housing Prices Steal Early Retirement Plans Away From My Friends
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The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
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From Dedicated to Financial Freedom: YOU:Staying Young
From The Simple Dollar: Motivating Yourself to Exercise Without Breaking the Bank
From Vixen On A Budget: Cheap Night In.
From Finance and Fat: Not Frugal- Why do I continue to throw money away?
From Consumerism Commentary: Make the Most Out of Best Buy
From My Two Dollars: Money Mistake Monday - The Oh Crap I Waited To Long To Save For Retirement Syndrome.
From Millionaire Mommy Next Door: Irrational Housing Prices Steal Early Retirement Plans Away From My Friends
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The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
Friday, November 02, 2007
Financial Lessons from Dancing with the Stars
Confession: I'm totally into Dancing with the Stars. We watch the show on the Internet at abc.com. I've learned a lot of financial lessons from the last episode. (In this past post I wrote about watching tv for free on the Internet.)
For those of you who don't watch DWTS, there is a fabulous dancer (Sabrina, a Cheetah Girl) who was voted off the show after being a top performer for weeks. Her usually stellar dance routine was not up to her standard and voters gave her the Jimmy Choo. (The high-end shoe metaphor is borrowed from Ugly Betty)
So here's what I've learned financially:
1) You're only as good as your last dance. It doesn't matter if I saved money last year or last month, the discipline of saving has to be a steady dance. You have to constantly show up and perform well every day.
2) Pace yourself. Apparently, Sabrina had an off week because she was doing so much. I've been there and I've done that. Sometimes in a push to earn lots and lot of freelance money, I over commit. I promise editors more stories with unrealistic deadlines. It becomes a lose-lose situation and I feel financially and emotionally bankrupt. And I lose points with my judges (editors).
3) Remember there are no dress rehearsals: Too often I've made serious missteps that I've later regretted. Unfortunately, there are no do-overs in life. Bottom Line: Give your best effort in the here-and-now. It's hard to repair damage on credit reports and memory accounts.
_____________
The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
For those of you who don't watch DWTS, there is a fabulous dancer (Sabrina, a Cheetah Girl) who was voted off the show after being a top performer for weeks. Her usually stellar dance routine was not up to her standard and voters gave her the Jimmy Choo. (The high-end shoe metaphor is borrowed from Ugly Betty)
So here's what I've learned financially:
1) You're only as good as your last dance. It doesn't matter if I saved money last year or last month, the discipline of saving has to be a steady dance. You have to constantly show up and perform well every day.
2) Pace yourself. Apparently, Sabrina had an off week because she was doing so much. I've been there and I've done that. Sometimes in a push to earn lots and lot of freelance money, I over commit. I promise editors more stories with unrealistic deadlines. It becomes a lose-lose situation and I feel financially and emotionally bankrupt. And I lose points with my judges (editors).
3) Remember there are no dress rehearsals: Too often I've made serious missteps that I've later regretted. Unfortunately, there are no do-overs in life. Bottom Line: Give your best effort in the here-and-now. It's hard to repair damage on credit reports and memory accounts.
_____________
The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
Thursday, November 01, 2007
Hip-Hop Summit on Financial Planning
The Hip-Hop community is offering some well-tuned advice about money, housing and financial empowerment. The Hip-Hop Summit Action Network (HSAN) is on tour and will be in Atlanta on November 3.
Here is the release I received about the Oct. 20 financial summit in Miami:
"With the recent housing market crash affecting the economy, jobs, student loans and consumer confidence, young people need some sound financial advice on how to best manage their money and navigate through this volatile economic environment.
Hip-Hop mogul Russell Simmons: "With the proper education and information about financial literacy, a young person today can work hard and still be successful, even during the current economic environment. Hip-hop is about creating and maximizing opportunity. It is about transforming the American dream into a living reality.
Our "Get Your Money Right" Hip-Hop Summits are about helping young people empower themselves with the basic tools of financial empowerment."
"The opportunity to live productively begins with a plan that mandates personal financial responsibility," said Johnny Furr, Vice President of Urban Marketing and Community Affairs for Anheuser-Busch, Inc. "We consider it a real benefit to support HSAN's mission to provide young people with the tools, knowledge and inspiration they need to begin creating the futures they want tomorrow, today."
The Hip-Hop Summit on Financial Empowerment is a grassroots effort to help engage young people in discussions about the importance of personal finance.
"How we as consumers manage our money determines our credit worthiness, provides us with access to financial tools, such as mortgages and affects our overall quality of life," said William F. Jones Jr., Chief Operating Officer -- Chrysler Financial. "At the Summit our employee volunteers will empower participants to make good financial choices that will benefit them for a lifetime because it is easier to establish good credit initially than to repair bad credit later."
The "Get Your Money Right" agenda features an interactive panel discussion on financial literacy, including such topics as the basics of banking, repairing and understanding credit scores, asset and wealth management, vehicle financing and home ownership.
The Hip-Hop Summit on Financial Empowerment's "Get Your Money Right" International Tour, now in its third successful year, brings together the powerful combination of hip-hop stars and Chrysler Financial experts to speak to students and community members about the importance of financial literacy.
The tour will utilize the "Get Your Money Right" workbook, produced and distributed by HSAN in both English and Spanish and given to all participants.
The workbook is free and is also downloadable at www.hsan.org .
Participants include: Joining HSAN Co-Chairmen Russell Simmons and Dr. Benjamin Chavis in Miami: hip-hop legend Trina, actress Gabrielle Union, R&B/Pop stars Ne-yo and LeToya Luckett, Latin hip-hop artist Joell Ortiz, rappers, Belly, Huey, entrepreneur Michael Chatman and representatives from Chrysler Financial Keith Myricks and Leonard Martin.
Community partners for the Summit include Florida Memorial University, Historically Black Colleges and Universities Network, Miami Urban League and Barry University. The media partner for the Miami Hip-Hop Summit is JAMZ99 - WEDR-FM.
The 2007 "Get Your Money Right" tour will make one more stop in 2007 in Atlanta, Ga. on November 3."
______________
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The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
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Here is the release I received about the Oct. 20 financial summit in Miami:
"With the recent housing market crash affecting the economy, jobs, student loans and consumer confidence, young people need some sound financial advice on how to best manage their money and navigate through this volatile economic environment.
Hip-Hop mogul Russell Simmons: "With the proper education and information about financial literacy, a young person today can work hard and still be successful, even during the current economic environment. Hip-hop is about creating and maximizing opportunity. It is about transforming the American dream into a living reality.
Our "Get Your Money Right" Hip-Hop Summits are about helping young people empower themselves with the basic tools of financial empowerment."
"The opportunity to live productively begins with a plan that mandates personal financial responsibility," said Johnny Furr, Vice President of Urban Marketing and Community Affairs for Anheuser-Busch, Inc. "We consider it a real benefit to support HSAN's mission to provide young people with the tools, knowledge and inspiration they need to begin creating the futures they want tomorrow, today."
The Hip-Hop Summit on Financial Empowerment is a grassroots effort to help engage young people in discussions about the importance of personal finance.
"How we as consumers manage our money determines our credit worthiness, provides us with access to financial tools, such as mortgages and affects our overall quality of life," said William F. Jones Jr., Chief Operating Officer -- Chrysler Financial. "At the Summit our employee volunteers will empower participants to make good financial choices that will benefit them for a lifetime because it is easier to establish good credit initially than to repair bad credit later."
The "Get Your Money Right" agenda features an interactive panel discussion on financial literacy, including such topics as the basics of banking, repairing and understanding credit scores, asset and wealth management, vehicle financing and home ownership.
The Hip-Hop Summit on Financial Empowerment's "Get Your Money Right" International Tour, now in its third successful year, brings together the powerful combination of hip-hop stars and Chrysler Financial experts to speak to students and community members about the importance of financial literacy.
The tour will utilize the "Get Your Money Right" workbook, produced and distributed by HSAN in both English and Spanish and given to all participants.
The workbook is free and is also downloadable at www.hsan.org .
Participants include: Joining HSAN Co-Chairmen Russell Simmons and Dr. Benjamin Chavis in Miami: hip-hop legend Trina, actress Gabrielle Union, R&B/Pop stars Ne-yo and LeToya Luckett, Latin hip-hop artist Joell Ortiz, rappers, Belly, Huey, entrepreneur Michael Chatman and representatives from Chrysler Financial Keith Myricks and Leonard Martin.
Community partners for the Summit include Florida Memorial University, Historically Black Colleges and Universities Network, Miami Urban League and Barry University. The media partner for the Miami Hip-Hop Summit is JAMZ99 - WEDR-FM.
The 2007 "Get Your Money Right" tour will make one more stop in 2007 in Atlanta, Ga. on November 3."
______________
The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
Wednesday, October 31, 2007
Kiplinger Offers Tips on Debt-Free Living
Debt-free living is a common goal. Therefore, I was interested when I received a pitch from the folks at Kiplinger’s Personal Finance , featuring great tips for living debt free.
My personal favorite is the tip about watching our medical bills. My parents have caught major errors in hospital bills. I wrote about medical bills in this post
Meanwhile, here is the info from Kiplinger's:
"The November issue of Kiplinger’s Personal Finance magazine profiles five ordinary people who tackled their debt—and are now get a good night’s rest. See how they did it; you can, too.
Take Washington D.C.-area resident Cindy Campbell, for example, who got hooked on credit cards in college and within two years owed $7,000. She paid off her plastic—plus a car loan—in three years. How did she do it?
Plus, Kiplinger’s offers how-to checklists to overcome common causes of debt:
Erase credit-card debt. Find extra money to put toward your bills by cutting back on spending, taking an extra job or devoting gifts or bonuses to pay off high-interest cards. Call your card issuer and ask for a lower rate and seek help from lenders. Before you miss a payment, contact a credit-counseling agency.
Pay off medical bills. Make sure the bills are correct before you pay anything, build your case if a claim is denied, and negotiate with service providers to reduce your bill or set up a payment plan.
Shrink student loan debt. Pay off loans with the highest interest rate first and look for discounts, as some lenders cut their interest rates if you make automatic payments from your bank account. Also, be sure to take advantage of tax breaks—in 2007, you can deduct up to $2,500 in student-loan interest if you meet certain salary criteria.
Fix adjustable-rate mortgages. Refinance into a fixed-rate loan if you have good credit. If you have trouble refinancing or you’ve already missed payments, ask your lender for help."
_____________
The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
My personal favorite is the tip about watching our medical bills. My parents have caught major errors in hospital bills. I wrote about medical bills in this post
Meanwhile, here is the info from Kiplinger's:
"The November issue of Kiplinger’s Personal Finance magazine profiles five ordinary people who tackled their debt—and are now get a good night’s rest. See how they did it; you can, too.
Take Washington D.C.-area resident Cindy Campbell, for example, who got hooked on credit cards in college and within two years owed $7,000. She paid off her plastic—plus a car loan—in three years. How did she do it?
Plus, Kiplinger’s offers how-to checklists to overcome common causes of debt:
Erase credit-card debt. Find extra money to put toward your bills by cutting back on spending, taking an extra job or devoting gifts or bonuses to pay off high-interest cards. Call your card issuer and ask for a lower rate and seek help from lenders. Before you miss a payment, contact a credit-counseling agency.
Pay off medical bills. Make sure the bills are correct before you pay anything, build your case if a claim is denied, and negotiate with service providers to reduce your bill or set up a payment plan.
Shrink student loan debt. Pay off loans with the highest interest rate first and look for discounts, as some lenders cut their interest rates if you make automatic payments from your bank account. Also, be sure to take advantage of tax breaks—in 2007, you can deduct up to $2,500 in student-loan interest if you meet certain salary criteria.
Fix adjustable-rate mortgages. Refinance into a fixed-rate loan if you have good credit. If you have trouble refinancing or you’ve already missed payments, ask your lender for help."
_____________
The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
Monday, October 29, 2007
The Power of Light: A Cheap Fix for the Home
Our dinner guests moved into the kitchen to read a book and a light bulb went off in my head: Our dining and living rooms were just too dim. Fortunately, a silver, beaded hanging light came to our rescue. New lighting improved the visibility and the decor of my home with just a small investment.
My husband found an attractive fixture -- $10, marked down from $40 -- in the clearance aisles of Urban Outfitters, a national chain. We also upped the wattage by changing our light bulbs to energy-efficient compact fluorescent lights (CFLs) that use 75 percent less energy than a standard 60-watt bulb and will save energy and money.
''Lighting accounts for nearly 20 percent of a home's electricity costs, with the average home containing more than 30 light fixtures, so it represents an opportunity to save on energy bills,'' said Anibal Sepulveda, regional communications manager for The Home Depot.
With our new fixture and bulbs, we expected more light, but we were surprised by the transformation of our living room. Everything -- the wall colors, the furniture and the accessories -- looked upgraded.
Affordable lights are available at high-end specialty stores, national chains, garage sales and thrift stores. Melissa Zegans, store supervisor for six Salvation Army stores in Broward County, says light fixtures and chandeliers are sold there for as little as $10. Her inventory includes one-of-a-kind lights, antique crystal chandeliers ($50) and Tiffany-style lights.
''We get new shipments every day, usually earlier in the day,'' Zegans says.
''Selecting a light fixture is more than just choosing a beam of light. Lighting sets the mood and tone for a home,'' Sepulveda says.
Home Depot offers these tips for selecting fixtures:
• Pendant lights that dangle from ceiling are a great source for general lighting.
• For the best visibility, hanging lights or chandeliers in an entry way should measure two inches wide for every foot of width in a room.
• Track lights can be combined with other fixtures for general lighting or used as accent lighting.
This is from my latest column in the home & design section of the Miami Herald.
______________
The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
My husband found an attractive fixture -- $10, marked down from $40 -- in the clearance aisles of Urban Outfitters, a national chain. We also upped the wattage by changing our light bulbs to energy-efficient compact fluorescent lights (CFLs) that use 75 percent less energy than a standard 60-watt bulb and will save energy and money.
''Lighting accounts for nearly 20 percent of a home's electricity costs, with the average home containing more than 30 light fixtures, so it represents an opportunity to save on energy bills,'' said Anibal Sepulveda, regional communications manager for The Home Depot.
With our new fixture and bulbs, we expected more light, but we were surprised by the transformation of our living room. Everything -- the wall colors, the furniture and the accessories -- looked upgraded.
Affordable lights are available at high-end specialty stores, national chains, garage sales and thrift stores. Melissa Zegans, store supervisor for six Salvation Army stores in Broward County, says light fixtures and chandeliers are sold there for as little as $10. Her inventory includes one-of-a-kind lights, antique crystal chandeliers ($50) and Tiffany-style lights.
''We get new shipments every day, usually earlier in the day,'' Zegans says.
''Selecting a light fixture is more than just choosing a beam of light. Lighting sets the mood and tone for a home,'' Sepulveda says.
Home Depot offers these tips for selecting fixtures:
• Pendant lights that dangle from ceiling are a great source for general lighting.
• For the best visibility, hanging lights or chandeliers in an entry way should measure two inches wide for every foot of width in a room.
• Track lights can be combined with other fixtures for general lighting or used as accent lighting.
This is from my latest column in the home & design section of the Miami Herald.
______________
The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
Thursday, October 25, 2007
Breaking the Bottled Water Habit
One community group is throwing down a challenge: Can we break our addiction to bottled water? The group: Center for a New American Deam offers these suggestions:
There are other strategies. I recommend checking it out. Here's the link:
______________
The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
"This Month: Break the Bottled Water Habit
* Switch from disposable to reusable water bottles
* Buy a filter for your tap water if necessary
The first step is making sure you have a non-toxic reusable water bottle to use on the go. Find a few options on Conscious Consumer.
You should also find out about the quality of tap water in your area. In much of the country it's just as, if not more, healthy than some bottled water."
There are other strategies. I recommend checking it out. Here's the link:
______________
The Frugal Duchess Booktique
The Frugal Duchess of Beauty Store
Book Shop of Fear
The Poetry & Drama Queen
Frugal Jazz & Blues
Frugal Comic Book Connection
__
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