Miserly Moms

REGIFTING

2014-01-21T08:14:00.000-08:00

With the surplus of gifts that always accompanies the holidays, I have begun my regifting stack in the closet. I have written about regifting for years, and covered the do's and don'ts many times. But another blogger captured many of these tips in a great graphic. So instead of writing about regifting, I thought I would share their graphic (with their permission, of course). To see their blog please visit Gumtree.
My favorite is Rule #5. I have received several gifts that had a piece of old wrapping paper (wedding paper, actually) stuck to the side that the regifter missed, or an overlooked gift note tucked in the side of the box.

If you have no problem with regifting, enjoy these tips :)
~Jonni

Black Friday Myths

2013-11-22T10:35:00.001-08:00

It's that time of year again. Pushing shoving, no sleep, etc. And is it worth it? Many say a resounding 'yes.' They found a few deals and got alot of shopping taken care of in that one day. Others, however, wonder if it's more hype that hip.

Let's look at the myths:
Myth #1. There's plenty for anyone who makes it through the door.
Stores only offer a certain amount of stock at that awesome advertised price.
The retailers would go out of business if they sold all of their stock at those low-ball Black Friday prices. They can't sell something for less than they paid for it and stay in business. so each sale price comes with a limited number that are available at that price. Sometimes there is only ONE piece of inventory that is available at that price.

Myth #2. This is the best deal you will see all year.
Watch out for other days - some are better and some are worse. Cyber Monday may have some good deals but they may be out of stock by then. And the deals may not be as good as Black Friday or they may be better. Do some research for sales prices and dates. For example, Back to School sales and Winter sales in January and February may be even better than Black Friday prices. Now there are even shopping days BEFORE or ON Thanksgiving with prices that will beat Black Friday prices.

Myth #3. The deals are in the ads.
Many of the deals stores are offering are listed online and not in the print ads, and some are only found in the store. And the online stores (such as Amazon, Overstock, etc) who don't have a brick and mortar building are offering awesome deals too.

Myth #4. Coupons are needed
Not always! Read the fine print to make sure you have what you need to get a good price. Some stores require a coupon, some don't. And some limit the number of total sale items you can have at checkout, etc. Know the rules.

Myth #5. I have to make it to 2-3 stores that day.
Each store promotes one or two awesome deals and it may take you hours to get through the lines. Then there may be another item at another store and so you trek over there. There is another option: Walmart is going to be matching other competitors' pricing, so bring any ad from any manufacturer. Here are their details on that: Walmart Turns Up Holiday Heat, Matches Competitors’ Best Black Friday Deals One Week Early

Whatever choice you make for finding your best deals, I wish you happy savings and a Merry Christmas!

TOP 20 GIFT CARDS FOR CHRISTMAS

2012-12-19T09:36:00.002-08:00

Gift cards are increasingly becoming a popular gift. They no longer carry the stigma of "oh, you couldn't take the time to buy me a gift?" that they used to have :) A research organization (GiftCardrescue.com) has been polling shoppers (20,000 of them!) over a 5 year period, and they found the top 20 cards that are well received. Some of the top 10 will surprise you, as they did me. Especially #3, which oddly has been rising in popularity every year. Who knew!?

And even though it is late in the shopping calendar, I am sure that many of you are still trying to buy gifts and would appreciate some last minute ideas that are usually a success. Perhaps you can give one of these top 20 gift cards and it will be well appreciated.

TOP 20 GIFT CARDS
listed in order of popularity:

Wal-Mart
Target
McDonald’s
Amazon.com
Home Depot
Lowe’s
Costco
Subway
Visa
eBay
JC Penny
Starbucks
Kohl’s
Darden Restaurants
Walgreens
CVS
Best Buy
Shell
Macy’s
Wendy's

Happy Shopping, and I hope you and your family have a very Merry Christmas!
~Jonni

Places to check for extra refunds

2012-09-06T10:30:00.001-07:00

After the fire, we did our usual applications for insurance refunds, and pushed a little in areas that needed to be adjusted. But there are less common places to get some cash back. We had service plans and warranties on all of our appliances and electronics that we were destroyed. I contacted each of them and cancelled the remainder of those warranties and got a bit of money back.

Every little bit adds up!

2012-08-31T06:35:00.002-07:00

GAS GAS PING PING
The gas we put in our cars is actually more important than most of us realize. Being frugalites, we tend to go for the lowest priced gas. But this may be costing you much more in the long run.

Many manufacturers have additives and even fillers in their fuel to make it less pure and less costly. These ingredients gunk up your engine and can cause expensive damage. It is for this reason that I researched and choose to buy a certain brand of gasoline even though it costs a bit more than the bargain gas.

For the past few weeks I have been running low on gasoline in the downtown area. There is only one gas station near where I have been located, so I have been filling up there. It is, however, one of the gasoline manufacturers known for its additives. After two weeks of their gasoline running my car, the engine began to ping. I learned my lesson!

DIAPERS: The Endless and Divisive Debate

2012-08-11T22:45:00.004-07:00

One of the hottest debates in the frugal mommie world is the cloth versus diaper debate. I dedicated an entire chapter in Miserly Moms to this topic, and explained in excessive detail how I calculated my comparisons. Nevertheless, I still get ugly mail about my conclusion: We found disposables (generic brand) to be cheaper. Many critics have decided I must be an unreliable source of any information since I came to "that" conclusion.
     As I explained in the chapter, the cost of electricity and water play a great role in the final results, and the cost of the disposable diaper also can sway things. The SF Bay Area was expensive so electricity and water were costly. We had found a generic brand of diapers that was 30% less expensive than the leading namebrand diapers, and they didn't leak!
     Another frugal friend developed a calculator to find out for yourself what will be cheaper. All you need to know is the cost per kwh and water rate in your area (it's on your utility bill), the cost per diaper of what you use, the cost per load of your detergent, if you have an old washing machine or new energy efficient model, and when you plan to potty train.
     I entered all of my information that I had used in Miserly Moms chapter on diapers and guess what.........he agreed that disposables (for my area) were cheaper!

Give it a try yourself:
http://www.groceryalerts.ca/cloth-vs-disposable-diaper-calculator/

Saving While Moving

2012-05-25T13:39:00.000-07:00

Tis the season to move! More rentals take place in the summer than any other time of year. And right now, many college students are moving out of their school living arrangement.

Before you rent a moving vehicle to move locally, like across town, do some calculations. Many moving rental places charge a mileage fee on top of the vehicle fee. Some of us don't think much of this fee, but it can really add up. Many of us rent the smallest(aka cheapest) moving vehicle and plan on making 2-3 trips across town, thinking we have saved ourselves the extra $20-30 for the rental fee. But this day may cost you more than you planned.

When estimating your cost, calculate in the mileage fee they are charging, as well as the gas mileage of the vehicle. The mileage fees can be $1.00 per mile or more. Then there is the gas mileage. These vehicles can get as low as 6-8 MPG. So paying more for the daily rental fee of a larger vehicle and only going across town once may be cheaper than renting a smaller vehicle and making several trips.

Just food for thought :)

Beverages: The Black Hole

2012-05-08T14:59:00.002-07:00

When I was first learning to be frugal, I did plenty of research and reading. I came across several statistics, but the one that jumped out at me the most was what the average American spends on beverages. Are you ready???
30% of our grocery bill goes to beverages!

I can hear you now...."Not me!" But, it is sadly true.

If you consider all that goes into this category, it becomes more real:

milk
orange juice
all other juices
tea
coffee
soda
wine
beer

When we realized this expensive phenomenon, we made a rule in our home: when you are thirsty, have a glass of water. If you still want the other beverage you were going to reach for, then you can have it.

This rule applied at all meals as well: water first, others second.

Our bodies need the water more than we need the other items.
I get into discussions with moms all the time about milk and calcium intake, but that is another blog for another time. But here is a sneak peak: there is calcium in other less expensive sources.

To help you understand the cost, here is a breakdown to help you see the value of water:
1 gallon of milk costs $3.50
1 gallon of orange juice costs $3.21
1 gallon of soda pop costs $1.50
1 gallon of bottle water costs $1.00
1 gallon of tap water costs $0.01

This is an area we can make a quick dent in.

Are Cheap Oil Change Stores Worth it?

2012-04-21T19:43:00.001-07:00

I dropped into Jiffy Lube this morning to have my oil changed. Before I can tell the employees that is all I want, I am being shown my dirty air filter and a PCV valve they pulled out. I did not appreciate that it got removed before I was asked if I wanted anything removed for examination. Since it was already out, and only cost $7 to replace, I let them replace that...but nothing else.
I pay for my oil and PCV valve and go on my way.

Two hours later, my check engine light has come on. I researched what this can mean in light of the recent PCV valve, and it could mean other things are now out, or the mechanics (I am unsure that is an accurate title for them) messed up something in putting the new one in.

So, off to my TRUSTED mechanic I will go tomorrow for further examination, We will see if my cheap oil change is going to be an expensive venture.

Stay tuned!

Don't Check Your Brains at the Cash Register: Whole Foods

2012-03-16T09:32:00.000-07:00

Encouraging shoppers to research what they buy has always been my mantra. In my shopping reviews of health food stores, I have mentioned that Whole Foods tends to be more expensive for the same products found at Natural Grocers and other health food stores. Once we found the identical bottle of vitamins (same brand, quantity, etc.) and Whole Foods was charging $4 more per bottle than Natural Grocers which was across the street.

But, price is not the only thing I said to watch for. Much of the fresh produce that Whole Foods sells is commercial: that means with pesticides. Why Whole Foods would sell them in the first place boggles my mind, but the unsuspecting shopper might assume everything they buy at the jolly green giant is organic, and forget to read the label.

Now Whole Foods has another black eye. They are selling products labeled "organic," "USDA certified," and "FDA certified" --- but they are grown in China. Neither the USDA nor the FDA has inspectors in China. Whole Foods says they have local farm inspectors working in China for them. However, the incoming inspections made by the USDA say most products coming in from China are poor quality and get rejected.

So, what are we buying?
Watch the ABC News investigation on this subject, and be a smarter shopper!
http://www.youtube.com/watch?v=MBiI9KcJ9UY&sns=em

Jonni

Fundraising Made Easy

2012-03-15T14:49:00.000-07:00

A reader wrote in about how she was saving money shopping with coupons and deals, while at the same time doing fundraising for her school. Her child didn't have to sell anything, she didn't have to buy anything extra..........she just looked for coupons for her normal shopping.

It is worth checking into! Visit their website at www.Justschoolit.com, register, enter your school, buy coupons and be done!

I love shopping and saving at the same time :)
Jonni

Is There a Cost of Working?

2012-02-28T12:16:00.000-08:00

Have you ever stopped to consider that working costs money? There are so many elements that go into calculating that cost. We should all do the calculation before we take on a job.

Here is some more information on that:
http://www.debtfreesquad.com/jonni_part2-1/

Free Trip to NYC Contest- Today Only

2012-02-23T14:01:00.000-08:00

Today you can enter into a contest for a trip to NYC and free teeth whitening. I entered (you can vote for me if you wish!) or you can enter too!
http://www.topdentists.com/smile/entry/247018

How I got started in frugality: my story

2012-02-21T12:30:00.000-08:00

I did an interview for DebtFreeSquad.com and they asked me to share my story. Here is the video of that interview :)
http://youtu.be/bxPPjlqhRgY

Save and be Green with Refilled Ink

2012-02-06T18:58:00.000-08:00

Save Money By Purchasing Re-manufactured Printer Ink

Printer ink is one of the most expensive office items companies spend on, and it has become a necessity for numerous homes and business. A great way to save money on printer ink is by purchasing re-manufactured ink cartridges. Re-manufactured printer ink is gaining popularity, and some publications even state that the ink cartridge hobby becomes franchise. The re-manufacturing process involves taking the previously used ink cartridges from original equipment manufacturers (OEM) and utilizing the following methods: cleaning them, replacing their parts, refilling the ink, inspecting them to ensure that they are compatible with various types of printers, and reselling the items. Re-manufactured ink cartridges are generally the same as name-brand cartridges, as they are retooled in the previously described process by a third party, but are offered at lower prices.

Low Cost

Buying re-manufactured ink results in significant savings, generally up to 50 to 75 % less than buying new name-brand options. Companies that specialize in re-manufacturing printer ink cartridges can generally set their own prices much less than big manufacturers such as Epson, HP & Lexmark. Some re-manufacturers will even buy used cartridges, and provide a credit to grant you even more savings. On top of the savings, you will notice that refurbished cartridges often last longer than the OEM's.

More Prints for Less

On many occasions you will find that re manufactured printer ink cartridges also enable you to get more prints, because OEM cartridges are often not completely filled with ink. Some original manufacturers even intentionally fill cartridges with less ink to keep consumers buying more sooner. Many re-manufacturing companies fill cartridges to the maximum capacity, with professional quality ink, which may even double the amount of pages you can print per cartridge.

Eco-Friendly

The re-manufacturing of ink and toner cartridges is an environmentally friendly effort, in that product waste is eliminated by reusing the same cartridges. It takes your average toner cartridge roughly 500 years to breakdown, and millions of these cartridges find their way to our landfills each year. Any organization or household that is seeking to go green in as many ways as possible can add recycling ink and toner cartridges to their eco-friendly list.

Tips for Choosing the Right Re-manufactured Printer Ink Cartridges

· Conduct research and look for companies that only use professional grade ink because lower quality ink can cause damage to the printer cartridge and your printer.

· Compare prices.

· Select sellers wisely, and do not buy re-manufactured ink cartridges from sellers that do not offer warranties or guarantees. Also, reputable sellers should have hassle-free return policies, so you can return the cartridge if you are not satisfied.

· Make sure to try out several products before purchasing bulk quantities of a particular type of re-manufactured printer ink.

Buying re-manufactured printer ink cartridges will save money in the long run, without sacrificing quality, and you will be contributing to eco-friendly practices each time you recycle a used cartridge.

This article was composed by Melissa Weaver of Inkpal.com. They get all of their printer ink from re-manufacturers that use the process described in this article, and offer as much as 70% off on some of their products.

Driving out of your way for a deal is usually worth it

2012-02-01T11:46:00.000-08:00

I often hear frugal "experts" telling their listeners and readers not to drive out of their way to shop where a deal is. They claim that it isn't worth it. But I never hear them back up their claim with any facts. So I did the math and must say that driving out of your way is usually worth it. If you get 20 MPG, you can do 20 miles of shopping for $3 in gas. That is alot of driving/shopping for $3. And I am sure you will save more than $3 on the items you are buying. Most of us will drive less than 20 miles and save more than $3.

Here is how I calculated this claim of mine that it pays to drive around:
one day I was shopping at 4 different stores. I drove to all four stores and tracked the mileage and calculated the gas usage: I spent $3 in gas. But I saved over $65 in my purchases.

Here is the quick formula for figuring it out:

(miles you will drive______) ÷ (Your car's MPG ________)=gallons used
(Gallons used ______) x (Cost of gas _______per gallon)

I drove 11 miles and my car gets 20 MPG. So here is the formula for this trip:
11 ÷ 20 = 0.55
0.55 x $2.98 = $1.63
My shopping trip cost me $1.63. And I saved $65 in shopping on this trip.

Hope it helps fatten your wallet :)
Jonni

The Long Term Effects of Extreme Couponing

2012-01-17T10:47:00.000-08:00

This latest craze over the extreme use of coupons could backfire on Americans. Coupons can be a useful tool if used correctly. But coupons tend to be for namebrand items (which are more costly than off-brand items), and they are for convenience foods which tend to be up to 5 times more expensive than making it yourself. Rarely do we see a coupon for a staple item such as bread, milk or eggs.

Aside from the wise use of coupons, the abuse of coupons is what we need to be concerned over. The manufacturers give us coupons so we will either try their products or return to them as loyal customers again and again. They were not issued so that we would abuse them and hoard product. And if we continue to hail the abusers, feature them on TV, and encourage this behavior in others, the manufacturers may halt couponing.

There is a certain cost to making an grocery item. And when a discount is offered on that item, the manufacturer is taking a loss. They are also losing in other ways; the cost of designing and printing the coupons, the advertising fees to include the coupons in the newspapers or websites, and the fees it pays the retailer for handling the coupon. They have factored on some of that loss, but when that loss is excessive, due to abuse of the priviledge of a coupon, then the manufacturer will have to rethink the plan. They might stop couponing all together.

I hope the few don't cause the rest of us to lose out.

Gift Cards Do's and Don'ts

2011-12-21T12:00:00.000-08:00

Gift Card Do’s and Don’ts

Some people worry that gift cards are impersonal, won’t get used, or will be eaten up by monthly surcharges the card maker charges. I find that a gift card to a store that that I like is very personal. I am pleased to receive them as gifts.It shows the giver thought about what I like.

There has been alot of discussion about surcharges on gift cards.There has been a change to allowable fees since August 2010 with The Card Act.

Gift cards purchased directly from a retailer (a store) cannot have inactivity charges placed against them until one year after the issuance date. So buy them and suggest they get used within one year.

If you don’t want to drive to several stores to get gift cards, you can get them at gift card kiosks located in most grocery and drug stores. You can also get them online (giftcertificates.com, Plastic Jungle.com, etc)

· Reloadable debit cards can still charge monthly inactivity charges. For example, a reloadable prepaid card with a MasterCard, Visa, American Express or Discover brand logo that is intended to be used like a checking account substitute is not covered by the Card Act. This means they can charge monthly inactivity fees and transaction fees. Check what type of card it is and the fees before you buy.

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!