Miserly Moms

Regifting 101

2011-12-20T20:48:00.000-08:00

Did you know that we have a National Regifting Day?

It falls on the third Thursday in December. Even though we missed the national holiday last week, I am sure that you are pondering regifting as we fast approach Christmas Day. If we lived in Canada, regifting is a week long event, and we are in the midst of it today!

Regifting creates quite the stir in conversation: either you hate it or you love it!

25% believe that regifting is becoming more accepted because it is a way to save on holiday expenses.
14% believe that regifting is becoming more accepted because it is a method of recycling

Lest you think the well-to-do abstain from the practice, know that one third of households with annual incomes between $100,000 and $150,000 recycle unwanted presents.

If you choose to abide by the practice, here are some tips to keep you from embarrassing yourself:

Regifting 101:

Is the gift regiftable? Never regift handmade, one-of-a-kind items signed books or monogrammed items. Don’t regift free promotional items. If it was free in the first place, it's worth even less in round 2.

How is the condition? Don't confuse "barely used" with "brand-spankin' new." If there are any signs of wear and tear -- a broken seal, scratched part, dust, mismatched twist ties on cords, or even missing shrink wrap -- the item's not fit for regifting. Only new, unopened gifts in good condition should be considered for regifting.

Keep track of the flow chart of gifting: There's no bigger horror than giving a gift back to its original giver. Avoid this by keeping track of each gift’s past. To play it safe, its best to regift in an entirely different social circle than the one from which original item was bestowed.

Wrap it like it's new: Regift the gift, not the wrapping paper, bow, or the card. Think of it as providing a makeover, and presentation is everything. Triple-check for all telltale regifting signs: Gift tags stuck in the bottom of the box's folds, gift receipts, an actual picture of someone you know in the frame. Finally, before you present it, step back and re-evaluate the regift from the recipient's perspective to make sure it passes the test.

Can you handle it? If you don’t plan to announce the gift as a regift, ask yourself if you can keep the secret. Never feel guilty about regifting once you’ve done it.

2011-12-15T15:21:00.000-08:00

Saving Money Simply: Winterize Your Home!

by Jocelyn Anne

As winter hits us full speed and promises to only get more taxing as January and February fast approach, if you haven’t already put some thought into how you will winterize your home, now is definitely time! You can save money on your energy bill each and every month and stay warmer without having to invest in any new products or change anything drastically in your home or about how you live. Here are a few of the easiest and simplest ways to make a difference:

Do a Seal Check: In most homes, approximately 35% of heat is lost through air leakage. By going around your home and double checking for any large cracks or small openings (hiding behind light switches, by doors, etc.) that could be letting heat out and sealing them off, you’ll maintain that much more heat in your home.

Cut the Temperature Down: You should easily be able to take your normal thermostat setting and turn it down two degrees and adjust in a week or two without noticing much. Bundle up just a bit extra for the first week and by the end you’ll be acclimated and saving for the rest of the year. Always wearing shoes and socks will go a long ways to keeping you warm and cozy.

Turn the Hot Water Down: Most hot water heaters are set to 140 degrees standard but nearly no one will ever need water this hot. Turning your hot water heater down to 120 degrees will save you significantly and you will never notice the difference!

Check Your Fans: Most ceiling fans have a reverse and a forward setting. You want to make sure yours are set to reverse during the winter months. This will push the hot air that rises to the ceiling back down to the ground where you can feel it and enjoy it, eliminating the need to feel like turning the thermostat up.

Seal off the Chimney: If you have a chimney that you are not using or use rarely, consider sealing it off completely and eliminating the very large amounts of heat loss through the large hole.

Cut the Heat at Night: There’s no point in paying to heat your entire home during the night when you won’t be leaving your bedroom. Opt to use a small electric room heater or even a heated mattress pad/blanket. This will give you a chance to save on central heating all night long and save significantly on your power bill for the month.

Minimize the Rooms You Use: Even during the day, chances are good that you spend the majority of your time in just one or two rooms. This is especially true if you work out of a home office. If this is the case, see if it’s more energy efficient for you to use small energy-efficient room heaters and stay in a couple rooms, rather than heat the entire house. At the very least, make sure you close off vents to rooms you rarely use like the guest room.

Tinfoil & Your Radiator: By placing something reflective, like tinfoil, on the wall behind your radiator, you will give the heat an opportunity to reflect back to the radiator, creating a cycle that requires less heat produced. Make sure the shiny side is out.

Take Advantage of the Sunshine: There’s nothing better than the free warmth of the sun. Take every chance you get to let sunlight into your home and make sure all your shades are wide open during the daylight hours.

Wrap the Hot Water Heater: You can buy inexpensive ($10) insulating blankets for your hot water heater that will prevent heat loss and cut down on the amount of energy it drains.

Clean Furnace Filters: By changing out your furnace filters once a month, you’ll cut down on the amount of energy needed, as you won’t need the same amount of power to push through dirty filters full of dust and debris. If you don’t want to buy them once a month, make sure to at least start the season with new ones and then clean regularly.

With just some simple painless adjustments, you can take a big dent out of your energy bill and save money all winter long!

Jocelyn Anne is a heating appliance expert for www.air-n-water.com and helps write content that allows families to save money and heat more efficiently.

Do Well: When is a Second Income Worth It?

2011-12-06T16:35:00.000-08:00

Second

Incomes:

Work Outside the Home

or a start Home-Based Business?

by Jonni McCoy

http://blog.crown.org/2011/12/02/do-well/ [get your free copy!]

Q. You will

have less free time. Will your busier schedule mean buying groceries, household items and clothing at full retail prices, instead of shopping sales?

When I worked full time outside the home, our grocery bill was $400 more per month. This was partly because I did not shop sales, and paid full retail for whatever we decided to cook. Plus, we needed more ready-to-eat foods, since we were short on time. Convenience foods cost 6-10 times more than the unprepared ingredients. Since I had less time, I needed to shop at one store for everything, making some items more costly than if I could shop at various stores throughout the week.

Q. Have you calculated in the cost of driving to the extra

job (gasoline, car maintenance, etc.), lunches needed on the

job (even lunchbox food can be costly if you buy prepackaged

items in convenient sizes), and tools you might need (e.g.,

laptop, tablet, special clothing, etc.)?

Once you calculate these costs, you will see your true take-home pay.

Sometimes it becomes apparent that working the extra job is not

advantageous to the family after all. Other times the income is

much-needed and the new work hours can fit into the family plan

without significant disruption. Discuss the pros and cons with your

spouse, reviewing the time impact on the family and balance that

with the net benefit (income after expenses), then decide together

if it is still worth it.

Working at Home

Working at home can offer the best of both worlds: earning

an income while tending to the home and family. The lure of not

commuting to a job, not dressing up for work, and keeping flexible

hours make this income choice appealing. While it’s possible to

earn a very good income from a home-based business, as with any

job there are hidden expenses to examine before investing time or

money. Here are a few things to consider before launching into a

home-based business.

Q. How many hours can you devote to the job?

I remember taking on work at home when my children were

young. I started working only after everyone was in bed and continued

late into the night; that was the only time I could concentrate

on my work without interruptions. Be honest with yourself about

the amount of actual free time you have each day. Often, stay-athome

parents long for a mental challenge, and as a result, they

believe they have time available for productive work. In reality,

they usually have only a few minutes here and there.

Net Pay for a Second Job Outside the Home

Q. Do you own all of the equipment

necessary to do the work (computers, software

and workspace)?

Q. Are you self-disciplined?

When you work from home, no one is there to

remind you to stay on task. Your success is up to you.

Q. Have you factored in advertising costs?

An average business plan allows 30 percent of

the budget to be spent on advertising in order to

generate trade.

Q. Will the profit (after taxes) justify

the expenses?

Self-employment brings higher tax rates for Social

Security and Medicare. In 2011, those working for

someone else pay 4.2 percent in Social Security tax

and 1.45 percent for Medicare. If you’re self-employed,

however, you are essentially paying the employer’s

part as well, so the rates rise to 10.4 percent for Social

Security (only on the first $106,800 of income) and 2.9

percent for Medicare (on every dollar you earn).

Even after allowing for the expenses involved in

running a business from home, the net income tends

to be higher than with a “paycheck” type of job. And

depending on how much time and advertising you are

able to invest, a home-based business offers the potential

for improving your net return. At-home businesses

also allow you to work off-hours without interfering

with family time.

If working at home is the more desirable of the two

sources of additional income, choosing a profession is

the next step. Some ideas for jobs include (but are not

limited to) word processing, freelance writing, product

sales, answering service, accountant/bookkeeper

and hairstylist.

Creating a business of your own from scratch

requires a bit more work up front. It may take time

and extra advertising to inspire trust in your service

or product. Advertising could include a flier for your

business delivered to companies and individuals that

need your services, free promotional items at local fairs

or events, radio interviews and giveaways, etc. As an

aid to your success, check out books from the library

on how to begin a home business.

Many home entrepreneurs choose to become distributors

or consultants for an existing company. This

allows an instant return on your investment, and many

times the product and company already have a loyal following.

When searching for the right business for you, beware of companies

that take advantage of people who want to work from home.

If something sounds too good to be true or requires a great deal of

cash to buy in, investigate it thoroughly. Check with the following

agencies on the legitimacy of a company by typing “at-home” in

their search boxes:

The Federal Trade Commission (ftc.gov)

Better Business Bureau (bbb.org)

Direct Selling Association (dsa.org)

National Fraud Information Center (fraud.org)

FBI (fbi.gov)

Being your own boss can be rewarding and liberating. As long

as you understand what it requires of you (and you form good work

habits while maintaining your family priorities), working from

home can be a very successful experience. That said, the peace of

mind that accompanies a paycheck-based job outside the home is

also appealing. I have worked both and benefited from each. List

the pros and cons for yourself. Remember, there is no one-sizefits-

all answer; you and your family should embrace the option that

works best for you.

Do Well: Is A Home Business For You?

2011-12-05T16:49:00.000-08:00

Is A Home Business For You?

Whether you’re trying to supplement the family

income or just need extra money for a

project, you may be considering a second

job. But not all part-time jobs are created

equal. The type and location of the job can

determine whether it will be profitable. Jobs outside the home

provide a steady paycheck, but come with hidden expenses that

could cost as much as they bring in. Work-at-home jobs may offer

wonderful flexibility and potential for good return, but they also

have hidden costs that should be evaluated. Reviewing the costs of

each will help you decide which type of job will be most profitable

for you.

Working Outside the Home

A steady paycheck with no overhead or marketing burdens

appeals to most people. It’s simpler to check in and out of work

than to worry whether the business is doing well or if it needs

maintenance. However, this type of job comes with its own unique

expenses that need to be evaluated against the benefits. Some are

more obvious, such as daycare and parking fees. Others are hidden.

Here are questions to help you make a wise decision about working

outside the home:

Q. Will the extra

income bump your

combined family

income into the next

higher tax bracket?

Knowing where

your income lies on

the Internal Revenue

Service’s tax chart is

very helpful in deciding

if a second job will be

worth it. If you are close to

the edge of one bracket and the

earnings from your part-time job

bumps you into the next bracket, you will

be bringing home less of that extra income. Take a look at last

year’s taxes and see where your income fell, then add the anticipated

income of the second job to see if your income falls into the

next tax bracket. The bracket breaks are at $20k, $40k, $60k and

$100k. Any income that falls over a bracket break gets taxed at

the next highest rate.

I will continue this topic later this week!
~Jonni

2011-12-05T16:47:00.000-08:00

Top Money-Saving Apps

by Jason Price (Crown Financial - crown.org)

Evolving smartphone technology and mobile apps have changed

the way we spend money and manage our finances—for better and

for worse. For example, some apps make it easier to buy things—which

might not be so good if you’re tempted to spend every time you spot

the latest deal sites online. But there are also apps that can help you

boost your productivity and save money. Here are a few ways you can

use your smartphone to save money and manage your finances.

Calculate Your Tips

A great way to ensure you’re not under or over tipping is by using

the QuickTip app. Simply decide what percentage you want to tip on

your final bill using a nifty slider and it automatically calculates the tip

amount. You can rest your mind at the dinner table!

Personal Finance Software

Most of the major financial software brands now offer mobile apps

that allow you to create a budget and monitor purchases. By entering

transactions when you make them, you can avoid the hassle of doing

it all at the end of the day. Crown Mvelopes® is an award-winning app

that offers the simplicity of envelope budgeting on the go.

Deals and Coupons

Interested in finding a great deal? Be careful. Daily deal apps can

entice you to spend more money than you normally would by tempting

you with irresistible sales. That said, apps like Groupon provide you

with local deals in your area that can result in significant price reductions

if enough people sign up for them. Other apps that can help you

find great deals in your area include the CraigsList and Yowza apps.

Save on Gas

GasBuddy helps you locate the cheapest gas in your area. This app

provides prices and station addresses and lets you sort by the cheapest

price so you’re not tempted to stop and buy gas at the first station you

see (unless you’re out of gas!).

Keep Track of Bills

We all know keeping track of bills is important and missing a bill isn’t

a good thing. If you’re the type of person who needs a reminder, check

out the Pageonce app. This app helps you avoid late charges by sending

your bill statements to your phone with due dates.

What mobile apps do you use to help you manage

and spend your money wisely? Let us know!

Send an email DoWellEditor@crown.org.

Jason Price blogs @ onemoneydesign.com.

Potatoes: the under-valued food

2011-11-11T12:35:00.000-08:00

When potatoes go on sale, they make an excellent base for frugal meals. They can be used as the main dish, side dish or the soup. They can be baked, boiled, hashed, scalloped, mashed or stuffed.

Potatoes are actually very nutritious. It's the deep-fried, cheese-laden things we do to them that is bad for us. Alone, a potato is an excellent source of vitamin C, B6 and minerals. The skin is an important part of this nutrition. Many of the elements found in a potato have been found to lower blood pressure and help fight disease. For more on the nutritional aspect of a potato, click here.

In addition to nutrition, potatoes are a frugal meal base. We can use them in any type of meal we want to serve.

Below is a meal that uses this versatile vegetable in both the main dish and soup. Enjoy!

Spanish potato
Ingredients:
4 large baked potatoes
1/2 pound lean ground beef
1/4 teaspoon chili powder
1/4 cup diced onion
3 cloves garlic, pressed
6 ounces tomato sauce
1/2 teaspoon Tabasco sauce
3/4 cup cheddar cheese, grated Directions:
Bake the potatoes at 425 degrees F (or microwave) until tender in the center. Cut each potato in half lengthwise, and then scoop out the center of the potato with a spoon, being careful not to cut into the skin. Place the pulp in a large mixing bowl.
In a skillet, brown the ground beef. Drain the beef. Place the beef in the same mixing bowl as the potato pulp. Add the chili powder, onion, garlic, Tabasco sauce and tomato sauce. Mix well.
Stuff the potato shells with the potato-meat mixture. It will be heaping out of the skins. Sprinkle 3 tablespoons of cheese over the top of each potato. Place the potatoes on a cookie sheet and return to the oven for two to three minutes to melt the cheese. Serves four.
Cost per serving (1 filled potato): 59 cents
Per serving: 33g carbohydrates; 4g fiber; 20g protein; 18g fat; 351 calories.

Green is the new gullible

2011-11-10T12:43:00.000-08:00

The Prius, and other hybrid vehicles, are touted by many as the ultimate statement of your commitment to the environment. But how much research did these enlightened consumers do before plopping $25,000+ down.

Have they researched how long it will take to recoup the cost of the car? Some hybrids recoup their value within 2 years, while others take 7 years before they become a profitable choice. And if they are paying a finance charge on your car payment for this beast, it might take longer.

What about the battery? Have they considered what happens to the disposed the toxic battery? Some are made of lithium while others are nickel metal hydride. Batteries commonly contain hazardous elements such as mercury, cadmium, and lead, which when incinerated or landfilled, present a risk to the environment and human health.Would the gas emissions of a Hummer be less toxic than the decomposing toxic batteries of a green car? CNW Marketing thinks so, as does the Washington Post (June 2, 2009): "CNW Marketing rates cars on the combined energy needed “to plan, build, sell, drive and dispose of a vehicle from initial concept to scrappage.” A Prius costs $2.87 per lifetime mile. By comparison, an H3 Hummer costs $2.07 per lifetime mile. Then there will be the problem of disposing of the used batteries."
And have they factored in the cost of replacing their battery? They cost around $2500 per battery (new).

Don't get me wrong: green can be great and we should all be as responsible as we can with the environment. But don't be a lemming! Just because a company says "GREEN" don't believe them without researching it for yourself. Even the FTC thinks the green marketing has gotten out of hand, and issued a Green Guide that holds the marketers claims to standards.

What Can You Do?:
Be a smart shopper and use your wonderful mind that God gave you.
Read the FTC Green Guide
Don't be gullible!

Being Creative

2011-11-08T19:17:00.000-08:00

Growing up overseas in third world countries gave me a new perspective on stuff. I watched poor children who lived in boxes make shoes out of discarded tires and make toys out of old bike rims and a stick. They had nothing but were happy and content to make something out of nothing.

How often do we think we need more stuff. Do we need a separate gadget for each purpose, or can some things multi-task? The television tells us we need a special strainer for our pasta. Mine works well for anything. Do we need 12 pairs of shoes? How many winter coats do we need?

Simplifying and frugality sometimes go hand in hand.

Just a frugal thought for the day.

P.S. If you would like to make your own tire sandals, click here

Rethink Christmas

2011-11-07T18:13:00.001-08:00

As the holidays approach, the giant Asian factories are kicking into high
gear to provide Americans with monstrous piles of cheaply produced goods.
This year could/should be different. This year, Americans can give the
gift of genuine concern for others.

It’s time to think outside the box. Who says a gift needs to
fit in a shirt box, wrapped in paper? Everyone
gets their hair cut. How about gift certificates from your local
hair salon or barber?

Who wouldn’t appreciate getting their car detailed? Small, American owned
detail shops and car washes would love to sell you a gift certificate or
a book of gift certificates. Perhaps that grateful gift receiver would like his driveway sealed, or lawn mowed for the summer, or driveway plowed all winter, or games at the local golf course.

There are a many owner-run restaurants — all offering gift certificates.
And, if your intended isn’t the fancy eatery sort, what about a half
dozen breakfasts at the local breakfast joint. Remember, folks this isn’t
about big National chains — this is about supporting your home town
Americans who own their own businesses.

Local arts and crafts people spin their own wool and knit it into scarves. They make jewelry, and pottery and beautiful wooden boxes.

Plan your holiday outings at local, owner operated restaurants and leave
your server a nice tip. Musicians need love too, so find a venue
showcasing local bands.

Christmas is about caring about our friends, our local neighborhood small businesses to keep plugging away to follow their dreams. And, when we care about other Americans, we care about our communities, and the benefits come back to us in ways we couldn’t
imagine.