Personal Finance Blog by Money Ning

5 Tips to Reading a Restaurant Menu (and Getting the Best Deal)

Thursday Bram — Wed, 28 Jul 2010 12:00:48 +0000

The art of writing a restaurant menu incorporates more than a nice layout: psychology and marketing both play big roles. While the local mom-and-pop restaurant may not have done a lot of research into how to sell more meals with the right menu design, you better believe that any big chain restaurant invests time and money into creating menus that make your mouth water and your wallet fall open. As a consumer, a little awareness of the strategies menu designers use can help you bypass all the marketing gibberish, letting you focus on getting the best value and the best meal. Here’s five.

Half-way Down the Page: Depending on the size of the menu, there are hot-spots your eyes naturally fall on. On a one-page menu, the hot-spot is about halfway down the page, for instance. You’ll find two different type of dishes in hot spots — high-margin meals and signature meals. The signature meals are those that the restaurant knows it knocks out of the park — these are the meals that they bet will have you coming back time and again. Price and even cost-margin aren’t major considerations for these dishes because a restaurant owner can usually assume that if he can get you back in the seat time and again, you’ll keep spending money at the restaurant.
High-Profit Margin Dishes: The second type of dish that is typically highlighted are those particularly profitable for the restaurant, like pasta dishes. Pasta is inexpensive to serve, even with a fancy sauce and meat or seafood. That doesn’t mean the pasta dishes are bad, or even that they’re priced out of line with the rest of the menu. They’re just the dishes with the highest profit margins for a restaurant.
Hierarchy and Organization: Most menus are organized along the lines of how a meal might be served — appetizers, salads, entrees, and so on. But within that traditional hierarchy, a menu designer has a lot of freedom. Research has shown that readers look at the first and last items in a section. It is useful to look at those items (they’re often signature dishes) and may be the dishes that the owner makes the most money on, but looking deeper into the menu can provide some interesting alternatives.
Specific Ingredients: Menu writing is meant to make your mouth water, with descriptions of seafood from a specific location or vegetables loaded down with adjectives. There’s a reason for all those descriptors, though. Not only are writers making food sound as appealing as possible , but they’re also providing an introduction for anyone encountering a particular ingredient for the first time. You may not recognize the name of every fish in the ocean, but hearing the location it comes from, even as broadly as the Pacific Ocean, can reassure you that it is at least somewhat familiar.
Recommended Items: Your waiter will almost always have a recommendation or a special to tell you about — and it can come off as a rehearsed spiel. It can be designed to highlight the same dishes that the menus are meant to promote, but you can also use that spiel as an opportunity to get an honest opinion about what your waiter has tried.

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5 Types of Insurance You Don’t Need

Miranda Marquit — Tue, 27 Jul 2010 12:00:37 +0000

You know that insurance is a necessity in some cases. By law, you are required to purchase car insurance, and health insurance can protect against major (and possibly financially devastating) health problems and costs.

Other types of insurance, like life and disability, can be very helpful in securing your family’s future, depending on your particular situation. However, there are plenty of folks out there ready to sell you insurance that you might not actually need. While you might gain some protection from these types of insurance, they may be wholly unnecessary. Here are 5 types of insurance to think twice about:

1. Mortgage Life Insurance

There are some insurance agents that will try to convince you that you need mortgage life insurance. This is life insurance designed to pay off your mortgage if you die before the mortgage terms are fulfilled. Of course, your regular life insurance policy will do that as well. Instead of getting a separate life insurance for your mortgage, make sure that your regular life insurance coverage is adequate to pay off your mortgage.

Do not mix mortgage life insurance with private mortgage insurance (PMI). If you do not have 20% for your down payment, you will probably have to buy PMI to help protect the lender in the event that you default.

2. Identity Theft Insurance

Because identity theft is such a fast growing crime, many people are concerned about it. And they should be. You do need to keep tabs on what is happening with your accounts and your credit report in order to watch for identity theft. You can set up security flags on your reports, making it difficult for credit accounts to be opened in your name. Identity theft insurance can’t actually do something for you that you can’t do for yourself — free of charge. It may require some of your time, but paying for this type of insurance is not required to get adequate protection.

3. Cancer Insurance

My uncle is one of the healthiest people I know, the poster boy for wholesome living. If he can end up with cancer (and he had two bouts), anyone can. However, that doesn’t mean that you should buy cancer insurance. First of all, having cancer insurance can void some of the coverage in your regular health policy. Second, you need to be aware that many cancer insurance policies have loopholes in them, which can prevent a payout. Instead of shelling out for specific disease coverage, double check your health insurance policy. Make sure it is adequate for hospitalizations.

Also to avoid: stroke insurance and heart attack insurance. Like cancer insurance, these types of insurance are unnecessary, and the conditions likely already covered by your comprehensive health policy.

4. Payment protection on your credit card

The idea is that if you cannot make your credit card payments due to death, job loss, illness or disability, this protection will make minimum payments for you, until the issue can be resolved. However, it is important to note that certain conditions always apply — and the protection can get pricey since it is based on your credit card balance.

Instead of relying on payment protection, consider a disability policy that includes debt payments. Life insurance policies should have enough coverage to pay off any credit card debt you have (in addition to the mortgage). You can also build an emergency fund to help you prepare for these situations.

5. Collision coverage on older cars

You have to have some sort of auto insurance in every state (usually liability, so that you can cover damage you do to property and people). However, once your car gets older, and has declined sufficiently in value, it might not be worth it to have collision coverage. Indeed, you will only get what your car is worth according to a formula, no matter what sort of damage is done.

So do the math. Does the premium for your collision coverage cost too much for what you could potentially get from the insurance? Your policy should break down what each portion of your coverage costs, so you can decide whether comprehensive coverage on your old car is worth it as well. Set aside money in an emergency fund to cover costs, or to use toward another car, just in case.

Of course, whether insurance is worth the money is all based on your unique situation. Do you need the peace of mind that any changes in your credit report will be flagged automatically for you? Or can you monitor such things yourself? Just make sure you know what you are getting for your money before you blindly pony up your hard earned cash.

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How to Buy Safe Second Hand Goods for Less

Tracy — Mon, 26 Jul 2010 12:00:30 +0000

Buying second hand makes a lot of sense. It’s not only frugal, but it’s also good for the environment. However, it’s important that you make safety a priority when shopping for used items. It’s not a bargain if it’s putting you or your family at risk.

Examine items closely before buying. If you’re buying furniture or electronics, consider bringing a small, bright flashlight to help you examine all the nooks and crannies. You’ll want to look for:

Mold
Evidence of insect infestation
Worn or frayed wires, insulation or other electrical components
Cracked or splintered wood
Sharp edges
Rot or water damage
Rust
Evidence that it was recently repaired or repainted – be sure to ask why
And other signs that the item is not safe to use

Be aware of current safety standards, particularly in items for small children or the elderly. While it’s true that many older items feature better craftsmanship, in some cases newer models have better safety features. For example older space heaters, electric blankets and heating pads can cause burns or fire because of the lack of safeguards.

Similarly, older cribs, highchairs, playpens and other items for infants and small children often do not meet today’s safety standards. Car seats have not only improved in recent years, but older ones have probably expired and might not hold up in a crash because the materials degrade over time. Before you go shopping, do a quick search for the current safety standards and print it out and bring it with you so that you can check before you buy.

If you can, bring a smart-phone or laptop with a wireless card with you as you shop so that you can easily look up to make sure the product hasn’t been recalled. For newer products you can also look up reviews to see if the there have been complaints about safety, durability or performance.

Buy from trusted sources. You can get ripped off buying second hand just as easily as you can buying new. If a seller gets upset because you don’t trust them, it’s not your problem and feel free to walk away. Be wary about having sellers meet you at your home or meeting them in private. If you must go to a seller’s home to examine an item, bring your spouse or a friend. It’s extremely rare that anything bad should happen, but why risk it?

Trust your instincts. If something feels off to you, there is probably a reason. If it seems to good to be true or if you sense that the seller is trying too hard to pressure you into buying, take some time to think about it before committing. You don’t want it gnawing on your conscious that you might have purchased stolen or counterfeit goods or worrying what the seller had to hide.

Know that another deal will come around if you pass on this one. Being patient and taking the time to do your research are crucial to getting good deals on items that will be safe and durable.

What do you look for when buying used goods?

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Finding the Best Deals When Buying Electronics

MoneyNing — Sat, 24 Jul 2010 12:00:15 +0000

The holiday season is just around the corner and the year has been difficult for electronic retailers. People are putting off buying electronics knowing that come Thanksgiving the prices are going to drop like a rock to entice us to part with our money. If, for some reason, you need to buy now, be relieved that there are some great ways to get your electronics for less even without the holiday season sales.

Go Online

Not only is the internet a great place to find reviews of specific items, it is the best way to comparison shop without leaving the house. Additionally, many stores offer larger discounts online than in the store. If you are shipping your item from out of state, you also avoid paying tax, which can be 10% of the total price of an item. With many companies offering free shipping to long distance customers, the appeal of not having to drag a huge box out to your car is clear.

Refurbished or Open

These two gems are not tapped often enough. Items that were originally purchased and had some minor manufacturing defect return to their parent companies for repair. Once repaired, the product goes back on sale for a significant discount. I admit I got all the MP3 players my family uses from the refurbished rack. I saved 40% over the price of the same toy when purchased new. No one has complained, and more than a year later they players are doing just fine.

Open box items are often returned to the store in perfect working order. Perhaps someone measured incorrectly or made a large purchase without consulting their spouse. Whatever the reason, the item is returned, often unused to the store and rather than return it to inventory the store now offers a significant discount to have you take it off their floor. The item will have the same guarantee and warranties that any other new product carries.

Avoid the Extras

Extended warranties and service plans will add costs with remarkable rapidity. If you do your research and check out reviews on consumer information sites you will know before you start your search which items ranked best. Picking for well regarded items, evaluated by unbiased sources will help you save money in the long run when it comes to repairs or replacement.

Heading to a Store

Be prepared to negotiate if you do decide to head to a real bricks and mortar store. Gone are the days when a price was quoted and you either took it or left. Today, if you are polite, you can at least ask for a discount. Remember, retailers need to get models off the shelves if they are going to have a happy holiday season and that gives you a bargaining chip. The worst that can happen is they say no and you move on.

There is simply no reason for anyone to pay the full retail price of any electronic item anymore. Between rebates, refurbs, coupons, and comparison shopping, you can find just about anything at a range that will match your budget. Patience is crucial to finding a good price on the item you want.

Another week, another post from the How to Save Money on Everything ebook with nothing but practical money saving tips like these. Get your free copy here.

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Five Frugal Vacation Ideas to Salvage Your Summer

Guest Contributor — Fri, 23 Jul 2010 12:00:12 +0000

Sadly, the summer season is half over. Is your “What I Did for My Summer Vacation” essay likely to consist of the word “Zzzz”? Well, you’re not alone. With the economy still on shaky ground, it seems more Americans are opting to put their money in the piggy bank rather than Mai Tais on the beach.
If you thought a vacation was out of the question this summer, think again, because a super sabbatical for you and your family is still possible with a little ingenuity and resourcefulness. Read on for five thrifty tips to make the most of the remaining days of summer.

1. Visit Friends or Family

Accommodations are often the most expensive part of any vacation. So why not visit your sweet Aunt Carolyn or your “accommodating” college roommate that happens to live near the beach? Stick the kids in some sleeping bags in the living room – or even in a tent in the back yard. Trust me, they will be just as happy as if you’d paid a bundle on a hotel. Be sure to bring a cooler full of goodies and leave the house even cleaner than when you came, and Aunt Carolyn will be inviting you back year after year. It’s a great opportunity to reconnect and check out some sights.

2. Stay Close to Home

There is no need to go to an exotic locale to have a great time. Why not learn more about where you live? Once my father took us on a “history” vacation, and we never left the state. We checked out civil war battle fields and other landmark spots that marked important dates in our nation’s history. It remains my most memorable family vacation, and I bet our family never spent much on the trip.

Camping in nearby parks is also a great cheap getaway. Most parks have established campgrounds near hiking trails or recreational areas. Since camping in the US is enormously popular, you’ll want to make a reservation beforehand. If possible, wait until after Labor Day, as rates and availability are often in your favor. And the weather is usually still quite nice for hanging out in the great outdoors.

3. Vacation With Others

Why not call your siblings or close neighbors and plan a vacation rental on the lake? Not only will the kids get built-in playmates and a lifetime of memories, but you’ll have a kitchen in which to prepare meals and friends to share expenses and good times with. Check out rental sites like VRBO, which connects individual property owners with intrepid travelers for great deals on rentals – usually much cheaper than going through an agency. With rentals from Utah to Uruguay, you’re bound to find an interesting spot to share with your traveling companions.

4. Eat In

Bringing along some sandwich makings or fruit and cereal for a convenient breakfast can save you big bucks when you’re on the road. Just stock up the cooler and splurge on a buck fifty for ice. Of course sampling unique foods can be half the fun of traveling, so make a plan to spring for a lunch of regional fare, and make your budget dinner special by turning it into a scenic picnic.

5. Tap Into Social Buying

Social buying is an idea that is taking off in many forms throughout the country. Harnessing the power of crowd sourcing, a business will offer a huge savings if enough people agree to buy the deal. Perusing recent deals offered by BuyWithMe reveal opportunities for 50% off spa services, 60% off dinner in a fine-dining restaurant, and over half-off admission to a water park, golf course or the theater.

If you are already going to be using a service, why not look for deals in the area you plan to visit by tapping into social buying sites? Since the deals are usually for treat-type services and not necessities, they can supplement your penny-pinching adventures by providing special experiences at bargain-basement prices.

So, don’t give up on your summer just yet. There’s still time to make the most of the last weeks of summer fun. Do your homework, pack the cooler, and make some memories with your kids – without spending their college education money!

This is a guest post from R. Rebecca Carter, a Content Strategist for Quicken Loans who writes about personal finance, FHA loans and home refinance. When she’s not balancing her checkbook or rearranging her 401k contributions, you can find her walking her dogs and planning her next budget vacation.

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Is Financial Compatibility Important When Choosing a Life Partner?

Vered DeLeeuw — Thu, 22 Jul 2010 12:00:50 +0000

If you’re a romantic at heart, if you believe that choosing a life partner isn’t something you think about and plan for but something that just happens, if you believe in “love at first sight” and in “happily ever after,” then I suspect you will strongly object to this article.

I am going to argue here that when choosing a life partner, you should make sure their financial behavior is acceptable and that their financial belief system is compatible with yours. If you identify issues, you should address them prior to committing, and if you realize that the gap between your belief systems cannot be bridged, you should consider letting go of the relationship.

The Importance of Compatibility

When my then-boyfriend asked me to marry him, years ago, I said “yes,” and I felt that I had made the right decision, not just because I was in love with him and found him attractive, or because he was my best friend, but also because I knew we were compatible.

We were compatible on many levels, including our financial belief system. It was important to me to marry a man who shared my core belief system. I knew that it was possible to have a loving, long-lasting relationship with someone who’s very different than you are, but I also knew that those relationships can have a lot of friction. I also knew that money issues are one of the topics couples argue about the most.

Take, for example, a relationship where one of the partners is frugal and the other is a shopaholic. I just can’t imagine being in such a relationship. It seems obvious that to survive long-term, the partners to this relationship would have to openly discuss the issue and find middle ground.

Bringing Up The Subject

Even if you agree that when choosing a partner their financial behavior matters, and even if you’re certain that you have identified issues with your partners’ behavior that could cause future friction and arguments, how do you approach the subject with them? This is a delicate topic, but I hate to think that some people avoid bringing it up just because they feel uncomfortable doing so.

It’s a lot like the topic of children – if you feel strongly about having or not having kids, will you marry someone without bringing up the topic first and finding out how they feel about it?

As much as discussing finances might feel uncomfortable, or unromantic, it is crucial to address issues before committing, and the best way to do that is to be as straightforward as you can. So if you’re frugal and debt-free but have noticed that your boyfriend has splurged over the past year on a luxury watch and on a luxury car that he can’t really afford, financing both purchases with credit, you absolutely have to bring it up with him – assuming your relationship is serious. Otherwise, it’s obviously none of your business.

If You Can’t Bridge The Gap, Should You Still Get Married?

This is ultimately up to you, of course. To go back to the example of children, many people decide to take the risk and marry someone even though they want kids and their partner does not. They hope that their partner would change their mind down the road. In some cases, they do. But in other cases, the relationship suffers, because the issue of kids is a huge one.

Financial issues are just as major as the issue of kids. You can marry someone who has a huge debt, and hope that you would be able to educate them and that together you would be able to get out of debt and start saving. But you need to be confident that your partner is willing to change.

I was lucky – my husband and I feel the same about saving and spending and have very similar values and beliefs when it comes to finances. Would I have married him if we were incompatible? Should I have married him? I honestly don’t know.

What do you think? Are you and your partner compatible when it comes to financial beliefs? Do you think it’s important?

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The Importance of Politics to Your Personal Finance

Thursday Bram — Wed, 21 Jul 2010 12:00:20 +0000

No matter your own political leanings, the way you vote can have clear consequences for your personal finances. It may seem like politics only broadly touch our personal bank accounts, with promises of a chicken in every pot or plans to grow the number of jobs in a particular location. But there can be some far more direct connections between your finances and the way your representatives vote.

Local Government

Statistically, municipal and county elections have far lower voter turn outs than other elections. Ideally, those low numbers shouldn’t include anyone aware of their own personal finances due to the fact that local government has a high impact on how your money is spent. Between state, county and municipal governments, your pockets can wind up a good deal lighter. Your local governments determine your property taxes, set sales tax rates and even decides on the cost of certain services. It may seem like one vote can do little to change each of those payments you may be making, but at the local level, you can do a lot.

If you’re willing to invest time beyond simply voting, local campaigns always need volunteers and help. Due to campaign laws, a donation is not tax deductible, making volunteering a better bet for your personal finances. If you haven’t been involved in local politics very long, it may be difficult to help set policies, but it’s very easy to support candidates who agree with your beliefs.

Simply supporting a candidate who is for lowering taxes may not be the most practical approach, though. While no one wants to pay more, it’s important to see the whole picture of what you’re getting for each dollar: if you’re paying a little more in property taxes, are you getting a better education for your children at the local public school? After all, switching to a private school will be a lot more expensive.

Federal Government

As a general rule, the federal government has even more control over your personal finances — think about the chunk that the IRS takes every year — but can be harder for one person to influence. But it isn’t as hard as you might think, especially if you’re already involved in local or state government. Everyone on the national level, from the President to congressional representatives, listen to activists and politicians on the municipal, county and state levels in setting their platforms. Even the campaign platforms in a presidential race are created in consultation with state party representatives.

Even if you aren’t in a position to support a candidate or a cause with time, donating money to a campaign can help make sure that the candidates with similar stances on issues make it into office. There have been several successful efforts to turn out the vote by people with an interest in seeing a particular candidate elected. For instance, the Freelancer’s Union has taken action to educate its members on which candidates directly support issues near and dear to their hearts, such as access to health insurance. The same organization has worked hard to get out to vote for the same candidates.

The most important point, though, is that you should investigate what your candidates support for yourself. Take a look at voting records and platforms before you choose to support a candidate. The more you know, the more you can be sure that you’re voting for someone who will take action on the issues that you see affecting your personal finances directly.

The More You Know About Politics

One of the limiting factors in whether someone is able to influence their own personal finances with a vote is knowledge about the issues at stake, as well as the candidates’ stances. It’s easy to say that there’s so much to know and no reason to try to figure it out. But the fact of the matter is that, unless you’re willing to invest some time learning about politics and how individual candidates can help you, you can’t make any changes.

That could be okay: it’s not impossible to think that someone will go out and vote the way you would want to. But it is fairly unlikely. Surprisingly few people agree on what needs to be done, politically speaking, in any given situation. If you feel strongly, personal involvement is a much better bet.

It doesn’t even have to be official involvement, like volunteering for a campaign. Even something as simple as talking with a friend or relative (who hopefully votes in the same elections you do) can allow you to share your reasoning for choosing a particular candidate. Even little steps can make a difference when it comes to both your personal finances and your politics.

The More You Know About Government

It’s worth noting that government and politics aren’t exactly the same thing. Government is the organization, such as the IRS, who collects a portion of your paycheck, whereas politics is when a representative campaigns to reduce the amount of taxes you pay. A good working knowledge of the government can have a positive impact on your personal finances and requires less involvement than politics. Just learning something about the tax code can help you save money, if only on tax preparation.

Local government can also have an incredible impact on your life if you run your own business and knowledge is necessary to navigate the rules established by your county and municipal governments. While the federal government may have some impact on your business, especially if you’re operating in multiple states, licenses, fees and all sorts of other factors have to be considered no matter what city you live in. That means a good working knowledge of the local government is particularly crucial for business owners.

There’s very few situations in which more knowledge of both politics and government won’t serve you well. Even if you aren’t at a point where actively getting involved makes sense, adding a few political sites or books to your reading list can help your personal finances in ways that you may not even expect.

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Salary vs. Discretionary Income

Miranda Marquit — Tue, 20 Jul 2010 12:00:15 +0000

One of the ways we measure our financial success (and, in some cases, success as a person) in our society is to look at our salary. However, just looking at your salary provides an incomplete picture or your financial situation. This is because your salary does not always provide an accurate representation of how much discretionary income you have.

Discretionary Income

In the most traditional sense, disposable income is meant by what you bring home for saving or spending after taxes are paid. Discretionary income takes it a bit further, including what you have at your disposal for saving or enjoyment after you have made your credit card payments, your housing payments, loan payments (such as a car loan or student loan), your utility bills, insurance and maybe even your groceries. If you have money automatically deducted from your paycheck for savings or retirement investing, this is also taken out before you calculate your discretionary income.

Discretionary income is what you have the freedom to spend as you wish, on things that you enjoy, rather than on bills and other obligations that may not give you much pleasure. In terms of personal finances, I believe that discretionary income offers a better picture of your situation than your salary.

Factors that Influence Discretionary Income

Yes, your salary is related to your disposable income. But what you have left over from your salary to use as you wish depends on a number of other factors, including:

Cost of housing.
Cost of transportation.
How much debt you have.
Cost of food in your local area.
Expense of your utilities

These items, and others, that influence discretionary income can vary, depending on where you live. My husband’s cousin recently complained that his salary is smaller since he moved to our town in Utah, than the salary he had where he used to live in California. My husband and I asked him, though, to take a step back and look at his discretionary income.

Lower Salary Can Equal Higher Discretionary Income

In California, even though his salary was higher, he spent more than half of his monthly income on a rented one bedroom apartment located far from his work. His family spent more on utilities, as well as on transportation and groceries. Now they live in a two-bedroom townhouse with a fenced yard, and it costs less than a third of what they paid in California. He doesn’t have to drive as far to get to work, saving them money on gas, and food and utilities are less expensive. Indeed, once we pointed it out to him, my husband’s cousin realized that in California, even though he made more, his family spent every penny on the basics of survival. Here, his salary is smaller, but he has more discretionary income to do things he enjoys: going to a movie occasionally, or going out to eat. Plus, his family’s house is the best he’s lived in since he married his wife.

Before you go off chasing a higher salary, consider the area. It could be that you enjoy a better quality of life, even with a lower salary. Salary isn’t the be all and end all of income.

Paying Down Debt

One of the biggest drains on discretionary income, though, is debt. No matter where you live, or how much you make, debt is an obligation that cuts into your financial freedom, and limits what you have available. When you are paying interest, you are no longer using money for what you want. Consider paying down debt so that you have greater financial freedom, and more discretionary income.

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12 Super Cheap, Super Nutritious Foods You Should Be Eating

Tracy — Mon, 19 Jul 2010 12:00:39 +0000

Ramen noodles and store brand bologna are dirt cheap but not only are they unhealthy, the flavor is torture to most people’s taste buds. On the other hand, a diet of artisan cheeses, organic arugula and wild caught salmon is delicious, healthy and far too expensive for me to feed my family every night.

To eat well on a budget I look for foods that are packed with nutrients, naturally delicious and cost pennies a serving. Often, they are so cheap and abundant that I can afford to go for the organic version and feel great about what I put on the table for my family each night.

Here are twelve of the most delicious, inexpensive and nutritious foods your dollar can buy.

Sweet Potatoes: These are full of fiber and vitamins and taste terrific. I like them best simply roasted in just a tiny bit of olive oil; prepared this way they are gorgeously rich and sweet without adding butter or sugar. Sweet potatoes are also terrific in curries and stews.

Winter squash: Butternut, acorn and other hard squashes are terrific sources of vitamins and fiber. An added benefit is that they keep well, so you can buy them while doing your weekly shopping and not have to worry about them spoiling after just a day or two. One of my favorite dishes is a simple soup made of pureed squash served with homemade bread.

Lentils: Unlike beans, lentils do not require any presoaking and cook in just 20 minutes. They contain a good amount of protein and are very filling. While they have a pleasing flavor on their own, they also stand up well to strong spices and can be a good substitute for meat in dishes like curry and chili.

Collard greens: I happen to love traditional, long cooked mushy collards greens but if you’re not a fan try cutting them into thin strips and briefly sauté. Collards and other greens such as mustard, turnip and beet greens can all be prepared this way for an inexpensive and nutritious side dish. All dark green leafy vegetables contain vast amounts of phytonutrients and nearly all of them are extremely affordable.

Kale: I separated kale from the other dark green leafy vegetables because it can also be used in green smoothies as it’s not as tough and strong tasting as the others. In most areas, kale is a lot cheaper than chard or spinach or other salad greens, which makes it a budget friendly as well as healthy choice.

Cabbage: There is a reason that so many cultures have relied on cabbage as a dietary staple. It’s inexpensive, easy to find and prepare and tastes pretty good, too. Try shredded cabbage instead of iceberg lettuce on your tacos or slice it thinly and sauté lightly in olive oil with a bit of cumin.

Carrots: Don’t overlook the humble carrot, they are delicious eaten raw and are a great way to stretch more expensive vegetables in stir fries, stews and other dishes. They are also fairly hardy and can live in your crisper for quite a while so that you can always have them on hand.

Oatmeal: It’s not only for breakfast! You can use super healthy oatmeal in your baking to beef up the nutritional content of your goodies without spending a lot of cash. It can also be used in meatloaf and meatballs instead of bread crumbs. Steel cut oats are particularly delicious; they are more expensive than rolled oats but if you buy them from bulk bins at your health food store they are cheaper than processed cold cereals.

Bananas: These are one of the least expensive fruits that you can regularly find in your supermarket and are packed full of fiber and nutrients. They are so easy to set out on the counter for quick snacks and if they are starting to brown, you can pop them in the freezer, skin and all, to use later for smoothies and baking.

Strawberries: Don’t bother with strawberries off season, when they are expensive and not very flavorful, but in the spring and early summer when they are abundant and cheap, take full advantage. Strawberries are known for being loaded with antioxidants and fiber. They freeze beautifully so if you find a good price, save some to enjoy later in the year in smoothies, sauces and baked goods.

Dried beans: Beans are extremely versatile along with being cheap and nutritious. If you include meat in your diet, you can still stretch many soups and stews with beans to make a delicious, protein rich, filling one dish meal. Bean burritos, bean burgers and bean chili are all easy to make, very tasty and budget friendly.

Quinoa: This can be expensive if you buy it in boxes at the supermarket; however health food store bulk bins often have it for a very affordable price. You can use quinoa in the place of rice or potatoes as the starch component of a meal or cook it like oatmeal for a hearty breakfast cereal. Quinoa is a complete protein on its own and also contains a fair amount of iron and magnesium. One super easy way to prepare quinoa is by using a rice cooker.

If you are not familiar with any of these foods, try Googling the name of the ingredient plus recipe. Ethnic cuisines are a fantastic source of recipes and can give your diet a lot of variety while using inexpensive ingredients. Cheap food doesn’t have to equal low in nutrition; a lot of humble foods are incredibly good for you.

What are some of your favorite ways to prepare nutritious, inexpensive ingredients?

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Remodel Your Home Without Remodeling Your Bank Account

MoneyNing — Sat, 17 Jul 2010 12:00:00 +0000

Remodeling your home is often just wishful thinking, but you can turn that dream into reality without going bankrupt if you make a few wise decisions. There are places where you can save money without compromising quality, and other areas where you should plan to spend more to ensure a good result. Here are a few tips to get you started.

Make Complete Plans

Before you start calling around to shop for contractors, figure out exactly what you want to accomplish. If you have any unusual elements you want to include in your design, sketch it out, preferably with measurements, and present it to the contractor when you first meet. Figure out your budget in advance, then add 10% minimum to deal with the unexpected, and set up your financing. Do as much research as you can before you meet with the contractors. The more knowledge you possess, the less likely you will get a quote with a high price.

Pick materials you want by visiting home improvement stores and specialty stores. Remember, the things that are most popular or high end will cost the most. This is an area where you can compromise and select something just as lovely for a lot less money. If anything is going in your walls, pick the best because taking apart a wall because the water pipe or valve is leaking is an expensive proposition.

Picking the Contractor

This is one of those places where cheaper isn’t better. Recommendations and referrals are your best source for finding a good contractor. Check them out with the Better Business Bureau as well. Avoid any contractor with a history of complaints.

Ask for an estimate on price for the job you planned. Show any unusual elements you want incorporated. If the job comes in at a higher price than you expected, ask where you can cut expenses. A contractor understands that you are working on a budget, just like he is. They are in the best position to tell you what elements you can sacrifice without impacting the whole project.

Who Purchases What?

Sometimes you will hear people say that they opted to purchase their own supplies when engaged in a home remodel. Under just about every circumstance, this is a poor choice because your contractor will usually have access to the best prices. If you are purchasing an unusual, high end item, it may pay to price things on your own, but always compare with your contractor to see who has found the best deal.

Contract Confidence

Make sure you hire a contract lawyer to check and recheck your contract before you sign on the dotted line. This is one area where you don’t want to skimp. While it may seem like a lot of money, it really is just a fraction of the total price and it can save you loads of money if things go wrong, and something almost always does in renovations.

Renovating your home is a messy, and an often expensive process. It takes time, creativity, and a great deal of patience. Make sure you have a good time line from your contractor, work with someone you trust, and accept that as long as work is ongoing you will have a mess in your home. In the end, even if you don’t recoup all the costs when selling the home, you will have the home you wanted for as long as you live in it.

This is another post from the How to Save Money on Everything ebook. Get your copy for free here.

The post is also an editor’s pick for Festival of Frugality.

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