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Archive for March, 2010

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More about tax refunds and a friendly reminder.

Tuesday, March 30th, 2010

I was in the locker room at the gym the other day and overheard a conversation that disappointed me.  It was a discussion about tax refunds, and the 2 women were discussing how desperately they needed their tax refunds to pay off this and that.  I felt for them.  I mean, I know that they can’t be that desperate if they are still paying for a discretionary expense like a gym membership, but to know that people rely on their tax refunds for regular expenses is terrible.

In general, it’s not a good idea to even have a a tax refund.  It’s better for your bottom line as well as mathematically to get that money in your paycheck throughout the year, instead of giving the government an interest free loan for a whole year, but I understand that some people just like to get that lump sum at the end of the year.  That’s fine.  However, if you choose to get the lump sum refund for your taxes from the government, you shouldn’t be counting on it for regular bills or expenses.  This money should be used to pay down debt, start (or add to) an emergency fund or invest for your retirement.  These choices will help better your life and your future, whereas buying a big screen TV will only give you short term entertainment.  Do yourself a favor and don’t budget your tax refund into your budget!

Also, I wanted to share a friendly reminder.  Tomorrow is the first day of April, which means that summer is only a couple of months away.  Have you started planning your vacation yet?? More specifically, have you started planning how you’re going to pay for your vacation?  If not, now is the time to start!  Review your budget and see if there is money left over (assuming you have no debt other than your house and are already saving for retirement) for a vacation, and if there is, you should start saving for it now!  Nobody likes to be caught off guard, and that is usually what happens at Christmas time and vacation time.  People are always surprised that vacation time and Christmas came as quickly as it did, and so they aren’t prepared.  This reminder is an effort to be sure that doesn’t happen to our readers!

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Posted in Wild Card Wednesday | 2 Comments »

Great tip for those unused gift cards!

Monday, March 29th, 2010

Whether it is our birthday, Christmas, Valentine’s Day, or some other occasion, at some point we all have received a gift card to a store, restaurant etc. that we’d rather not have received.  Most of us upon seeing it probably all think the same thing,  ”What am I going to do with this???”. 

In the past, our only solution was to go to the store and try to find something that we would want or just forget about the gift card altogether.  These days, we have another alternative: plasticjungle.com.  Plastic Jungle is a website that allows you to sell your unwanted gift cards for up to 85% of the value or swap the card for another card from a store you would actually shop at of the same value!  It’s incredible!  We don’t ever have to be stuck with a crappy gift card again!  Now we can trade for gift cards we like or get cash for the ones we don’t.

Another idea?  It’s a great place to get discounted gift cards for friends and family!  This way you can give them a gift you want to give them and save some money in the process! 

This website offers many options in a world where there weren’t many just a few short years ago.  With gift cards becoming the top choice gift for many people, it’s nice to know that unlike the Scottish terrier sweater your grandmother gives you for Christmas, you can exchange the Bass Pro gift card for something a little more “you”!

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Posted in Mucho Moolah, Monday's Money Saving Tips! | 4 Comments »

How innovating can save you…if you don’t wait too long to do it!

Friday, March 26th, 2010

It’s probably been awhile since most of us have thought about the once magnificent movie giant Blockbuster, but they are about to be on our radar once again!  Today’s article, Blockbuster is bleeding to death, is a lesson to us all in why it’s important to innovate.

Now, in the case of Blockbuster, I am referring to the fact that they have been lagging behind in innovation for years at this point, and appear to finally be doing something about it.  You see, when Netflix came around, 13 YEARS ago, I guess Blockbuster didn’t see them as a threat, and ignored them.  They ignored them until 2004, when they finally launched their own DVD by mail operation!  This gave Netflix a 7 year head start, which means that Blockbuster wasn’t innovating, they were merely trying to catch up.  You see, innovation is defined as a new way of doing something, and that isn’t what Blockbuster was doing.  They were merely trying to compete.  Now that they are almost near bankruptcy, with actual brick and mortar stores becoming obsolete, they are trying everything they can to get out from under their $1 billion dollars in debt, and luckily for them, that includes innovation.  They have announced a deal that makes them the first in the market for mobile devices.  What does this mean?  Smart phone owners will be able to purchase or rent movies from Blockbuster over their phone to watch on the go.  The problem?  Right now the service is only available at T-Mobile.  It has been said it will be available on Android and Windows Mobile phones soon, but not now.  What about the I Phone?  Well, Apple is in talks (rumored) with Netflix.

As far as things go, I applaud Blockbuster for trying to innovate to save their company, but I fear it is too little too late.  Their business model of their brick and mortar stores became obsolete a few years ago.  Not only do people find it easier to just “update their queue” with the movies they want to watch, but they can stream movies live and save money since the monthly fee generally works out to be cheaper (and no late fees).  I mean, I remember when Blockbuster was charging almost $5 to rent a movie, and would charge a late fee if it wasn’t back in 2 days.  There is NO WAY that business model can compete with Netflix, or Redbox with its $1 for 1 day movie rentals.

What is the lesson here?  Don’t let the opportunity to innovate your job, your business or your life pass you by.  If you figure out a new way to do something in your business or your life, see what you can do with it.  Maybe it’s just a way to make some darn fine chili very fast (I am very proud of my chili), or maybe it’s a way to revolutionize how we look under our clothes, like the inventor of Spanx, Sara Blakely.  Maybe you decide that there is a better way of doing something at your job that will save the company money (and possibly get you a nice bonus), or maybe you decide to innovate your whole life, and do everything in a different way.  Either way, don’t wait to act on an idea! 

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Tolerance.

Wednesday, March 24th, 2010

There are a thousand wonderful traits a person can have, and a worthwhile trait of note is tolerance.  Tolerance, simply put, is enduring hardship or having patience.   I’m talking about more than just being tolerant of other races and religions.  I’m talking about tolerating quirks, attitudes and irritating traits that the people (possibly friends, family or coworkers) around you display that make you want to scream.  Why is this important?  Well, I’ve learned over the years that being intolerant can cause you more trouble than it’s worth. 

Why does it cause you so much trouble?  Well, because when you’re intolerant of something, you’re the one experiencing the turmoil, not generally the person of whom you are intolerant.  So even though they might be the one acting like the idiot, you are the one irritated and fuming.  That doesn’t exactly help your mental well being (or your blood pressure)! 

It’s a personal growth experience when you learn to tolerate someone or something.  The drama that occurs during that “experience” is something that I’m sure most of us would rather avoid (as pointed out above), but instead, we need to learn from it and create a working/lasting relationship with the person(s) in question. 

How can you give yourself a better opportunity to be a tolerant adult?  Well, honestly, I’m still learning myself, but my advice from what I’ve learned so far would be to learn tolerance as early in your life as you can!  Learn to accept that people are different, we do things differently, and if someone does something that irritates you, try to be understanding of them and their point of view.  Don’t let them get to you! 

A quick note:  Before you read this and quickly move on, saying to yourself that you are tolerant and this doesn’t apply to you, I really want you to stop and think about how you handle those types of situations…we all have room for improvement!

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Even more ways to save around the house!

Monday, March 22nd, 2010

I’m always talking about ways to save around the house, and today I have even more tips for you!  Check out the following ideas:

  • If you haven’t done an energy audit of your house, then you should!  Contact your local utility company to see if they will do it for free (they usually will), and if not, then check out energystar.gov, and use their guide to do it on your own!
  • Buy and use a programmable thermostat.  These things are great.  We love ours!  We set it to lower the temperature in the house at night when we go to bed, since we’re going to be under the covers anyway, and raise the temperature shortly before the alarm clock sounds.  It’s a great way to save a few bucks!
  • Buy CFL bulbs!  Compact fluorescent bulbs will save you money over the long haul and the last longer as well.  I won’t deny the color is a little different and the bulbs  look weird, but they are well worth it!
  • Put on or take off that sweater!  I know that our preference is for a nice temperature controlled house, and most people don’t have a problem with putting on the sweater in the winter, but it’s just as important in the summer!  I know that we can only take off so many clothes, but the wearing lightweight fabrics, fewer clothes, and running the thermostat at a higher temperature is a great way to save in the summer.  We all (well, a lot of us) love to go to the beach, right?  So why is it that we can stand high temps at the beach and not in our house?  I say if the temperature is hot, deal with a little heat and raise the temp!  For each 1 degree you lower (in the winter) or raise (in the summer) your temperature, you will save roughly 1% off your bill each month!

As of Saturday, we are officially in spring.  Make these tips part of this years spring cleaning to do list, and save yourself some money this summer!

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The census. What’s normal & what’s a scam.

Friday, March 19th, 2010

The census.  It’s what everyone is talking about right now.  I am happy to fill out the form, because I want to make sure that our area has proper government representation.  However, with everything else, when something “a little unknown” comes along, there will always be people around to take advantage of the uninformed.  Today’s article, Beware census scam artist tricks, makes sure that the reader is informed about what’s normal and what’s not when it comes to the census.

The first thing you should know is that the census has 10 questions (some with multiple parts), and none of those questions should ask you for a bank account, credit card or Social Security number.  If the actual form is followed up by an email or phone call, that is a scam.  The census will never contact you by e-mail.   Another little tidbit that most people don’t know:  If you don’t mail back your census form, it’s possible that a census official will come to your home.

If and when a U.S. census worker shows up on your doorstep they will have a badge.  You should ask to see their badge and personal identification and write down that information.  Do not answer any questions before seeing their ID.  They should only ask the same questions that are on the form (no bank account, credit card or SSN questions) and should not ask for any cash.  You DO NOT have to pay for the census.  If you are unsure about the form you have received or anyone who has contacted you about your census, check out the U.S. Census Bureau’s website to be sure.

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Don’t forget to say please and thank you!

Wednesday, March 17th, 2010

One of the great ways to give your relationship and the emotional piggy bank (read more about this here) of your significant other a boost is to remember what you learned in elementary school.  For example, saying please and thank you.  It’s not much, but this little showing of respect and love is a huge boost to your emotional piggy bank that makes you feel better.  Why does it make you feel better?  Because it shows respect and appreciation.

Now, I am quite positive that most of us have heard people say that communication is the key to a good relationship.  Well, that statement is not only inaccurate, seeing as it has to be GOOD communication to be worthwhile, but it also leaves out a couple of other very important parts of a healthy relationship: Respect and appreciation.  Although we all know that respect and appreciation are important, we are all generally so self-centric that we only focus on when we aren’t receiving them.  And what I have to say to you is this: Why?  Why do you think that your partner should show you respect and appreciation if you aren’t showing them that same respect?  It isn’t a one way sort of thing!  It’s just like saying please and thank you!  You should WANT to show respect and appreciation to the person that you love, just as much as you want to receive it.  I don’t wake up in the morning wondering what ways my husband can show me his love, respect and appreciation!  I wake up wondering what ways I can show him my love respect and appreciation! 

Here’s the short and tall of it:  You can communicate until you’re blue in the face, but if that communication (or any other part of the relationship) doesn’t include respect and appreciation, then the relationship will suffer.  Not sure how to get started??  How about saying please and thank you?  How about asking your partner if you can do anything for them?  That way, their emotional piggy bank fills up and overflows, making it easier on them to reciprocate!

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Posted in Wild Card Wednesday | 1 Comment »

DIY…We should get back to taking care of ourselves!

Monday, March 15th, 2010

These days we hire out all sorts of things that we used to do ourselves.  We pay people to mow our lawns and shovel our driveways.  We pay people to clean our houses and carpets and vehicles.  Why do we do this?  Are we lazy?  Too busy?  Do we have too much money?  No matter what the reasoning is, as individuals who need to save for our future (I don’t know anyone who doesn’t need to do that), we should be doing these things for ourselves as opposed to hiring them out! 

So you say you don’t know how to do certain things around the house?  Learn.  Lack of knowledge is no excuse for not doing something!  Check out the Diy Network for instructions on how to fix lots of common things around the house.  Every time you fix something yourself, you’re saving money for your future!   If you’re hiring out lawn mowing and driveway shoveling, stop.  Unless you are not physically capable, there is no reason you should be paying someone to do things around your house!  Besides, a little extra physical activity is good for us all!

Your favorite southern couple hates to hire out work.  We try to do as much as we can ourselves, and only hire out when absolutely necessary (having a broken tree removed from our yard, for example).  If we don’t know how to fix something, we research it.  We do understand that not everyone is “handy” around the house, however.  If you’re not handy, then befriend someone who is, and trade services.  Whatever your talent, exchange that for their help.  Maybe they fix your toilet and you help them (as a personal trainer, for example) teach them a basic fitness program in return. 

Whatever the circumstance, figure out a way to do things for yourself!  Not only will you save money, but you will become more self sufficient!

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Posted in Mucho Moolah, Monday's Money Saving Tips! | 2 Comments »

If you save it, then you choose how to spend it!

Friday, March 12th, 2010

Today’s article is titled Spending a school fund on CNNMoney.com.  It brings to question a subject that many of us either don’t think will ever happen, or, at least we hope it won’t!  The question?  What happens when your child decides not to go to college, and you’ve saved lots of money in an ESA, 529 or other savings account for them to use on that schooling?  Worse, what happens when you have 2 children, and 1 of them used the college fund, and the other decides against school and says you should just give them the money?  I bet you can guess my answer!

If the child decides not to go to school, there will be penalties in an ESA or 529 account that isn’t used for schooling, so you can just kiss some of that money goodbye.  Now, this isn’t a totally terrible thing, since had you not saved it for education, the money would’ve been taxed anyway, but I’m sure it will still sting a little.  I don’t have a huge problem with a child that decides not to go to school, financially anyway, because it’s not impacting your budget, only (possibly) their future. 

My problem, as I’m sure our regular readers know, is with the child who asks for (demands?) the money you saved for their education, to be paid out to them in cash, since you paid for their siblings education.  In spite of what your child seems to think, your money is NOT their money.  I know that you want to be fair with your 2 children, but this money was set aside for their education, not for their amusement.  It’s your money, and if the child decides not to go to school, it should STAY your money!  Like the article says, if the child wants money, tell them to get a job! 

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Posted in Friday's Financial News! | 2 Comments »

Creative income and sacrificing for what you want.

Wednesday, March 10th, 2010

In this world, there are many different types of people.  We all approach a difficult situation differently.  While one person might attack a problem with voracity, another might decide to shelf it until a solution presents itself, while still another person might decide that they aren’t capable of solving the situation, and either seek outside help or give up entirely.

I know a woman who demonstrates a dedication and voracity that is rarely matched, with an eye for creativity in the face of her problem.  This woman has 2 children, both boys.  She would very much like to try for a girl, but she needs to have a surgery to be able to try for her baby girl.  This will cost several thousand dollars that is not covered by her insurance, so, she was faced with a difficult situation.  She did not cower or give up, though.  Instead, she has decided to start a side business outside of her normal job.  She is quite talented at decorating cakes, and so, she has taken that talent and turned it into income!  She is offering cakes to friends, family, and anyone else interested in visually interesting cakes for a reasonable price.  Her goal is to save up enough money to pay for the surgery.  This is not a woman beaten by her circumstances.  I always say that you can’t let life happen to you, you have to happen to your life…and she is doing just that!

What type of dedication do you have?  Do you rise to the occasion when you are faced with a problem, or ponder on it too long, or do nothing?  Whatever your answer, you can be sure that others are starting businesses in their kitchen, getting their extra slice of the money pie.  Will you let your opportunity pass you by, or rise to the occasion?

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