Subscribe to our newsletter!

Archive for June, 2009

« Older Entries

Mucho Moolah! Monday’s Money Saving Tips…Blowout sales…

Monday, June 29th, 2009

This weekend, Americans all over the nation will be in their backyards, grilling out, having friends and family over and setting off fireworks to celebrate the independence of our nation (we hope that they are remembering the 4th for our independence from Great Britain, but I digress). Another tradition on this holiday, however, is the 4th of July blowout sales that most stores have and most women shop. These are the sales of the season, where everything is on dramatic discount, to clear away the old and make room for the next season’s clothes. The problem is that most people don’t shop right, and so they spend a bunch of money they either don’t have or should’ve spent on something else (i.e. a bill). So, today’s money saving tip is my motto while shopping for clothes: “shop often, but buy sparingly”.

I am all about a deal. I love the idea of getting something on sale, and the steeper the discount, the happier I am…but I don’t buy something simply because it IS on sale. If, for example, you are holding a black purse in your hand, intending to purchase it because it’s on sale for $10, but you have 5 other black purses at home that are roughly the same shape and size as that one…put the purse down and walk away! I have seen people buy purple, faux fur scarves because they were on sale. I mean, it’s bad enough that someone manufactured purple faux fur, but to be convinced that it’s a good deal because it’s on sale is lunacy. Here’s a hint: If you weren’t going to buy it in the first place, or didn’t need it, then it’s not a good deal no matter what the discount, since you’re spending money you didn’t intend to spend! In other words, don’t buy stuff just to buy stuff…that’s what
children do, not grown ups!

When you go out to the stores this weekend to shop the deals, keep these tips in mind:

  • When you shop for clothes, you should keep a list of what, if anything, you need (i.e. black pants)
  • Don’t buy it unless you are absolutely sure you will wear it
  • Only purchase it if you feel at ease in it (if you think you look short, fat etc. in it, you won’t be comfy or confident, and won’t EVER wear it)
  • Unless you can name to yourself at LEAST 2 things at home that you can wear with it, don’t even think about purchasing it

That’s it! Good luck, and remember: Shop OFTEN, buy SPARINGLY!

Tags: , ,
Posted in Mucho Moolah, Monday's Money Saving Tips! | Comments Off

Friday’s Financial News…Give the gift of financial planning!

Thursday, June 25th, 2009

The article I found for today’s post is very interesting. A lady wants to get a good gift for her son and future daughter-in-law for their wedding, and wanted some advice on whether or not the gift she settled on was any good. The article, Give a wedding gift they can really use
, is absolutely wonderful. The lady wanted to get the happy couple a gift of a session with a financial planner/coach, and didn’t know if it was appropriate. It is! It is probably one of the best gifts you can give a young couple starting out! They are new to responsibility, financial planning, budgeting and saving. They probably have a little debt already, and the financial planner/coach can put them on the right track to getting out of debt. They can help them set up a budget, explain terms like 401(k) and APR, answer any specific questions the couple has (to the best of their ability) and offer suggestions and tips on ways to work together with their money. Because, let’s face it, couples need to work together on their money so their money works for them.

So, go check out the article. It is a very cool read. Anyone who is trying to decide between a gravy boat and 1 place setting of china for a good wedding gift should consider this option instead. No, it’s not on their registry, but they probably won’t end up with 2 of them, and people need this type of gift, whether they know it or not!

Tags: , ,
Posted in Friday's Financial News! | Comments Off

YOU are an emotional piggybank…

Monday, June 22nd, 2009

I love piggybanks. They are such a good example for so many things in our life. While talking with Jerrill this past weekend, he used it as an example for our emotions, and I wanted to share our insights today.

The fact is, most of us are an emotional piggybank. There are both deposits and withdrawals made to the piggybank, and to stay on track with your piggybank, you need to keep the “in-flow” equal to or greater than the “out-flow”. So, how do you keep the in-flow up? By surrounding yourself with the right type of people.

There are people in the world who are emotional drains. They are negative about other people, about themselves and about the world. They bring our mood and our spirit down and we feel worse after we have been around them. These people TAKE from our emotional piggybank. They are doing nothing for you emotionally except wearing down your spirit and your nerves. Now, they probably do not know that they are emotional drains to their friends and family, and it’s not like they have intentions of being this way…they just are.

The other side of the spectrum is the person who is an emotional boost to your life. They are the people who brighten your day. They are positive about other people and about the world in general. You leave their presence just as happy, if not happier, than when you arrived! These people GIVE to our emotional piggybank.

A person who once was a boost can become a drain if they have had something bad happen in their life and an emotional drain can become a boost if their life changes for the better. Hopefully, the drains in your life will eventually become a boost, but don’t count on it. Some people will always be a drain. It is your choice whether you keep them in your life.

In theory, you would do well not to have any emotional withdrawals from your piggybank at all. I have people in my life from each category, and being around those who deposit in my piggybank is a lot easier than being around those who make withdrawals. Your goal, like mine, should be to surround yourself with more emotional boosts than emotional drains so that your emotional piggybank is overflowing with deposits, and not impacted by the negativity of others.

Tags: , ,
Posted in Wild Card Wednesday | 1 Comment »

Mucho Moolah! Monday’s Money Saving Tips…Cut back on the indulgences you don’t need!

Monday, June 22nd, 2009

I love summer! It is always so great when the weather warms up, because we can go outside, play games, wear sandals etc. Something else we do in the summer is indulge. So, today’s tip is to skip the guilty pleasures of the season!

For those of you who need to save a few bucks, cutting back on some of the guilty pleasures in your life can really add up! Things like sporting events, concerts, manicures, pedicures and blowouts etc. can all be cut back to half of what you normally indulge in! As an example, if you cut back on pedicures throughout the year, and only got 1 every 2 weeks instead of every week (and let’s be honest, they do last that long) then you would save a minimum of $780 a year! That’s a lot of money that could be used in other places! Want to save the full $1560, which could take your family on a week long vacation in the summer? Do your own pedicures at home for a year! I personally do my own pedicures…are they wonderfully relaxing etc??? No. But they still look nice.

All of these “guilty pleasures” are great ways to save some cash! For those of you trying to pay down debt, I would suggest that you abstain from all guilty pleasures until the debt is paid off. After all, some of those guilty pleasures could have been a contributing factor to the debt in the first place. For those of you just trying to add to your savings or find some extra cash for the summer, cutting your guilty pleasure expenses in half will help you do that!

A tip for those thinking of doing their own pedicures at home: be sure your files, clippers etc. are kept clean. To sanitize them, wash with soap and water, then either use barbacide (from your local beauty supply store, like Sally Beauty Supply) to sanitize them or use a solution of 10 parts water to 1 part bleach…same effect. However, if you use bleach, rinse afterward, as the bleach may rust the instrument. Here are ideas on how to do a 2 minute,
5 minuteand
35 minute pedicure. Enjoy!

Tags: , , , ,
Posted in Mucho Moolah, Monday's Money Saving Tips! | Comments Off

Friday’s Financial News…Why you need a lawyer!

Friday, June 19th, 2009

Today I am not covering an article of importance, but rather, a person of importance…a lawyer. Now, before I make everyone “run for the hills”, let me explain.

A good lawyer is a necessity for those people who want to be resposible with their lives and money. At the bare minimum, you should have a will drawn up by a lawyer. Yes, I know that it is cheaper to go to one of the websites out there that offer the forms to be filled out for a fee (usually less than the fee the lawyer charges), however, the form can’t tell you important things about the law that a lawyer either knows off the top of his/her head, or knows the best place to research the answer. Here’s an example: In Kentucky (your favorite southern couples state of residence), if you are married with children, and have no will, when you die, your assets (that do not have beneficiaries identified) are divided up amongst your spouse and either your children or your parents! I would’ve thought it would all go to my spouse, and I would’ve been wrong. Thanks to my lawyer, I now know better.

Most people wait too long to go to a lawyer, and for my part, I don’t know why. When you are sick, you don’t wait too long (think pneumonia or death) to go to a doctor! If your car starts smoking, you don’t wait to take it to an auto mechanic! So, why do people wait until they are in a mess to see a lawyer? I honestly do not know. They shouldn’t, because seeing a lawyer when the problem is minor costs a whole lot less then seeing a lawyer when the problem is huge! Lawyers are there to help you. They are experts on the law, the way a doctor is an expert on your health. If you need legal advice, don’t Google the problem…look for a lawyer! Some words of advice: You should research or ask around (friends or neighbors) about a lawyer you are thinking about hiring. Make sure that their work ethic and personality line up with yours. You should be able to feel comfortable with your lawyer. If you aren’t comfortable with your lawyer, you won’t be as likely to ask for their help, or tell them the whole story, which means they might not fully be able to help you.

Today we are featuring a local lawyer who has just opened his own practice in the Frankfort Kentucky area. Doug Howard is an attorney licensed to practice law in Kentucky, Indiana, and Ohio. He is originally from Frankfort, Kentucky where he currently resides with his wife and children. He graduated from the University of Notre Dame with a B.A. in History and earned his law degree from the Catholic University of America in Washington D.C. Doug’s approach to his law practice is refreshing. I believe he cares about doing the right thing, teaching his clients about the law as he goes, and the best part is that he doesn’t speak in legalese! If you would like to get in touch with Doug Howard, please check out our “links” page to send him an email!

Tags: , ,
Posted in Friday's Financial News! | Comments Off

You have to win the battles before you can win the war!

Tuesday, June 16th, 2009

Today I simply wanted to talk about and remind our readers how important it is not to focus too much on “winning the war”, i.e., achieving your goal, without first focusing on the “battles” or small hurtles that you have to overcome along the way.

When we set goals for ourselves, it’s easy to get bogged down in the details of that goal. We get lost and sidetracked…this is how people “fall off the wagon”. When you focus on overcoming each small problem, however, at the end of the journey you have accomplished your goal! This is a great way to approach budgeting and paying off debt! As an example, if you have 3 credit cards, and each has $1000 in debt on them, don’t focus on the $3000 you have to pay off, focus on the $1000 you have to pay off! When that card is paid off, focus on the next card etc. until you have paid them all off and achieved your goal! With this approach, you don’t become overwhelmed and derail yourself. When you focus on winning these small victories another crucial part to achieving your goals falls into place: Positive reinforcement. When you pay off that first $1000 credit card from the example above, you are ECSTATIC! You want to jump for joy! That reinforcement simply makes you want to stay on track and keep working toward your goal.

That’s it! Just focus on overcoming the small obstacles as they appear to achieve your goal and you’ll be fine! Take the positive reinforcement you get from overcoming them (and wherever else you can get it, i.e. a spouse) and use it to motivate you even more, so that the goal is easily attainable!

Tags: ,
Posted in Wild Card Wednesday | Comments Off

Mucho Moolah! Monday’s Money Saving Tips! Tips for men!

Monday, June 15th, 2009

Usually my Monday tips are geared toward the head household shopper. You know, the person in the house that buys the groceries, the clothing and all the other necessities a family requires…which is, in most cases, the women. Not today! Today is geared more toward the men in the house! I felt it was about time we helped out some men out there…

So, today we’re talking about ways to save money when you go to play or watch sports. Now, I know not all places offer discounts, but maybe there is a way to change what you normally do to save money. Here are a few examples:

  • Golf – Golf is a great sport to save money. Firstly, don’t get a cart! Let’s face it, you do get a workout in your upper body from swinging the clubs, but maybe a little cardio wouldn’t hurt your waistline, now would it…and you save big bucks, because they charge ridiculous amounts to rent them! Also, some golf courses will offer a discounted playing fee if you go in the evening! They know you can’t play the whole course, so they give you a price break! Check it out sometime when you need to save a little cash!
  • Tennis and Basketball – Both of these sports are high intensity and lots of fun, but renting the courts to play them on can be ridiculous, especially if no one else chips in! So, I say you should check out your local Parks and Recreation website/office. Parks and Rec usually have several places in your city/county that offer free tennis/basketball courts, among a whole lot of other wonderful amenities, some free, some pay, but ALL reasonable…check them out!
  • Watching Sports (either at the game, or at a sports bar) – 1 chilidog, 2 chilidog, 3 chilidog…floor! Let’s face it, when it comes to watching sports, we get so distracted we have no IDEA how much food or alcohol/soda we consume. Now, I wouldn’t dream of telling our readers to completely stop going out to a game or buying food and drink there, but I would ask you to cut back! The tickets are expensive, so maybe you go to 3 of the 5 games you would have went to this year. And skip some of the food. This time, only get 2 chilidogs versus 3 (and all the chips and other stuff you would get) and 2-3 beers instead of 4-5 and save yourself tons of cash. Only watch the game at your favorite sprots bar? That’s cool…you’re already saving on the cost of admission (i.e. free)! Now, look at the menu…whatever food you were going to order, either order half, or order items that were half the price of your usual food! You’ve already saved! Now, the same goes for the beer! Drink a little slower, and drink half as much as you normally would! You could be surprised at how much you save!

That’s it! A few good ways to save cash when playing or watching sports! I encourage our readers to try these tips and see how much they can save!

Tags: , , , ,
Posted in Mucho Moolah, Monday's Money Saving Tips! | Comments Off

Friday’s Financial News…The decline in America’s wealth.

Friday, June 12th, 2009

Today’s financial topic is a little bleak, but unfortunately, it is something that we feel our readers should know about. Today we will be talking about the decline in Americans’ wealth. This post will be a little different than the previous posts as it will only be a brief summary. I encourage our readers to click on the link and read the full article.

Today’s article is Americans’ wealth drops $1.3 trillion By: By Tami Luhby

Brief summary: The wealth of Americans has been dwindling over the last 7 quarters, to amount to a hefty overall decline. Only only good news from the decline in our wealth is that the average American’s debt has also declined for the first time EVER. During the first quarter of ’09, $1.3 trillion of wealth disappeared from our wallets, and the stock market and home values are still declining according to a government report. Some things may be changing, but not quick enough. Luckily, at least some Americans have learned that debt is a bad thing. According to a source from Moody’s economy.com, “Consumers are cutting back on their borrowing to some extent, but the decline in value of assets is swamping that.” Household debt fell at an annual rate of 1.1% to $13.8 trillion for the first quarter of 2009, after falling off 2% in the fourth quarter of 2008. That was the first time household debt shrank…EVER. All I have to say is that it’s about time.

Alright, there is the brief summary. Now, it is up to you to click the link above and read the rest of the article. We’ve given you the tools, now go use them!

Tags: , , ,
Posted in Friday's Financial News! | Comments Off

Never forget where you started…

Wednesday, June 10th, 2009

As we get older our lives change. We graduate high school, go to college or enter the work force and eventually settle on/start a career. During this 10-15 year timeframe, we usually meet someone special. Someone that we get excited to see and are happy to hear their voice. That person who gives your belly the “warm fuzzies” when you think of them. Now, not everyone follows this track, but the majority of people get engaged, married and then start a family. Unfortunately, some of these marriages fail and end in divorce. Now, for many of these marriages, money woes were a major part of this failure, but there are other silent problems that we can’t recognize easily that can lead to the destruction of a marriage. Recognizing and protecting against these troubles is what helps keep the “Successful” in your favorite southern couples’ marriage. Even if you already know what they are this will be a good refresher for you.

  • Miscommunications – In my opinion, communication is the number one, absolutely most important part of any marriage, period. Why is that? Because MIScommunications are a major cause of arguements. Think about it. Your spouse says something to you and it sounds hateful. Instead of being hateful back to them, ask them if anything is wrong! You do love them, remember? Maybe you said something to hurt their feelings. Maybe they had a tough day at work. Whatever the case, they love you too, and wouldn’t be snapping at you without a reason! They are MIS-communicating their feelings, and you are about to “stir the pot”! Instead, sit down as a couple and discuss what happened. If you hurt their feelings, apologize! Not an unfeeling “oh, I’M sorry YOUR feelings are hurt” apology, but a “wow, I’m sorry I hurt your feelings…I didn’t mean to do that” kind of apology. I mean, you didn’t intend to hurt their feelings, did you? Did they have a bad day at work? Ask them to tell you about it, which helps relieve their stress. At the end, if the comment they made to you was hurtful, tell them so, and ask them to be careful in letting their work affect how they speak to you. The more you communicate, the better you will understand each other!

  • Don’t Yell! – In a related topic, why are you yelling at each other? Are you not capable of controlling your anger? Do you not have to control yourself at work when you’re angry? So why do you think you should yell at home? Yelling at someone demonstrates that you can’t logically discuss a problem and tells them that all you care about is “winning” the arguement…let me tell you a secret…you can’t win an arguement by yelling, all you do is make the other person decide it isn’t worth the effort to try to communicate with you. That isn’t a win…it’s a failed relationship, because if they give up on communicating with you, the 2 of you will not last as a couple!

  • You both have a veto – In my house, we put bills/laws up to be passed or vetoed, just like the White House. For example, if I want chicken and he wants pasta, he can veto my chicken and suggest pasta. If he wants a big screen TV, I can veto it. If I want to move to Alabama, he can veto that. This goes on til we agree. It’s not important what the final decision is, but rather that we made it together and were both heard in the process.

  • Don’t forget to show respect – This is a problem that a lot of marriages have. We tend to focus on oursleves and what we are doing for the family so much that we forget to show respect for our partner. You should treat you spouse as though they are the most important person/thing in your life, because, frankly, they should be.

  • You both have to be on the same plan – It doesn’t matter what plan you’re on (although I could suggest a couple) as long as you’re on the same plan! If one of you isn’t ready for children, the other should not be decorating a nursery! Working together (are you seeing the trend) and following a plan to acheive your goals works so much better than 2 people trying to acheive their own goals separately, but in the same house. Your actions will affect the other persons life! I’m likely to offend some people here, but I beleive that when you become “man and wife” you become one. That means no his and hers, that means ours! Don’t try to define what belongs to whom and who pays what bills! And things like separate checking accounts only promote division in the marriage!

  • Ackknowledge each others efforts/accomplishments – Last time I checked, it feels good to be praised, and everyone likes it. So then, wouldn’t it stand to reason that when your spouse accomplishs something (even something small) you should praise them? And don’t think you have to spend thousands of dollars to do so! The praise should be commiserate with the deed. It’s not what type of praise you’re giving, it’s the fact that you are giving praise!

  • Your marriage is sacred, and your children need to know/see that - This is another topic that will likely upset some people, but in my house, the marriage comes first. I do not have children yet, but when I do (which will be soon), I plan to make sure that my children know that I love them with all my heart…but that mommy and daddys’ relationship comes before their plethora of extra cirricular activities. Date nights are a must. Family nights are a must. Mommy and daddy being in love and wanting to do things together teaches healthy relationships to the children, and I think we can all agree that children these days need examples of strong, loving relationships!

So, I say to never forget where you started…that happy in love, sweet, caring, respectful and appreciative couple you were in the beginning can continue to old age if you try! I am sure that I have left out other parts to a happy marriage, but this will get you started in the right direction! If you have specific questions, feel free to leave a comment!

Tags: , ,
Posted in Wild Card Wednesday | Comments Off

Mucho Moolah Monday! Monday’s Money Saving Tips! Redecorating for less!

Monday, June 8th, 2009

Today’s money saving tip is how to redecorate a room in your home on the cheap! We’ve all been there…the day we come into a room in our home and say “Ewww, this really doesn’t reflect me/my taste/the house anymore!” And once you’ve realized that, it’s hard to think about anything except that when you walk into that room! Of course, you know that to totally redo a room will cost A LOT of money! Luckily, there are a few things anyone can do to spruce up a room inexpensively!

First, you need to fall in love with throw pillows! They are useful in so many rooms! Bedrooms, living rooms, family rooms etc. can all be updated with a change of throw pillows. Now, the prices/quality of throw pillows can vary greatly, so keep these tips in mind:

  • If it has beading, it will not be cheap.
  • Shop online for good deals from reputable stores…remember, you don’t have to worry if it will fit!
  • Buy end of season/discontinued patterns. They will be marked up to 65%-70% off.
  • Don’t be afraid to buy them from the big chain retailers…if you like to redecorate a lot, you will save even more from these discount stores over time!
  • You can add beading/lace to a pillow with just a basic knowledge of sewing.
  • The most important thing about a throw pillow is its’ stitching…you don’t want it to fall apart at the seams!

Another great way to redecorate on the cheap is by changing the paint color of the room. This is a very cheap (depending on the size of the room) solution to “the room blues”! When changing your paint color, keep in mind:

  • The paint swatches at the store are your friend, and they’re free…take them home.
  • A big color change should be considered carefully, and if you don’t like bright colors in your clothes, you might not like it on your walls!
  • The color of the paint changes based on the lighting in the room…Incandescent, CFL and natural light all look different!
  • Don’t forget that whatever color you pick has to match the accessories in the room!
  • You have to buy rollers, brushes, edgers and painters tape…that all adds up, so budget accordingly!

Artwork on the wall is an easy way to revamp the look of a room. It shows your personality and will always be a good conversation piece. Artwork can be hung in ANY room, bathrooms and mudrooms included. Some tips to keep in mind:

  • The size of the piece should be carefully considered for the space…a too small piece will look odd on the wall, and a too large piece will dwarf the room.
  • The frame should reflect the fixtures/style of the room. For example, an extremely modern room should not have a rustic wooden frame.
  • Craft stores like Michael’s Arts and Crafts and Garden Ridge have great deals on artwork, and a large selection of themes and sizes that should help you stick to your budget, so don’t forget about them! Kirkland’s Home is another good choice!
  • You should never worry that your Van Gogh is not a REAL Van Gogh…and no true friend will think worse of you for having a print on your wall, and you will be happy with the price tag!
  • 2 other good places to check for inexpensive artwork: Flea markets and hole in the wall stores on college campuses…nobody could sell expensive artwork to broke college students!

There you have it! 3 easy ways to redecorate a room on the cheap! I am interested to know if any of the readers have any other redecorating on the cheap ideas! Keep in mind, $200 house fixtures and $150 throw rugs are not what we’re looking for here. These should be things that ANYONE can afford! If you have an idea, post a comment and let us know!

Tags: ,
Posted in Mucho Moolah, Monday's Money Saving Tips! | Comments Off

« Older Entries