Money Beagle

Time To Get Out Your Crystal Ball!

2010-09-03T05:33:00.000-04:00

Forty to fifty years ago, we were using products that we would never dare think of using today because we've discovered that they are unsafe and cause health issues. The two that come to mind are lead paint and asbestos based insulation.

I had a startling thought the other day, as I wondered what products we're using today that will be looked at in the 2050's as completely unsafe and banned from use.

I'm sure there are some out there, and that's not even the worst part. The worst part is that based on how much more processing we're doing, my guess is that some of the stuff we're using today is even worse than the lead paint and asbestos and/or there are probably going to be more products identified.

On that encouraging note, have a great weekend!

Thanks for reading! Please subscribe to my RSS feed. This original Money Beagle post Copyright 2010 Money Beagle is authorized to appear only on www.moneybeagle.com. Thank you for reading and remember: It's a great day to be alive!

Amazon Diapers Saving Some Big Bucks!

2010-09-02T07:18:00.000-04:00

My wife recently laid a coupon on my desk that she found in Parents magazine for 20% off a diaper purchase at Amazon.

Upon doing some digging, I found that this was a really good deal. It apparently was stackable with a promotion that they were running on a Subscribe-And-Save promotion. Subscribe-And-Save allows you to sign up and typically receive 15% automatic shipments of staples like diapers, batteries, household cleaners, etc. They were running an extra 15% off.

That means that we were looking at:
15% the original subscribe and save
15% for the bonus subscribe and save promo
20% off the coupon

The discounts all worked off the original price, so it amounted to a 50% discount! The coupon was only good off one package of product, so we made our purchase.

So a package of diapers that retails for $41 at our local store would cost a little over $43 after you add tax, plus you have to spend time and gas going to the store to get it.

With Amazon, their price was $40, which was lowered to $20 after all the discounts! Plus, they were offering free shipping on subscribe and save options, so even though we hadn't spent the normal $25, we didn't pay for shipping. Two days after placing our order, a box of diapers showed up.

Now, many people shy away from the subscribe and save option because you later get 'stuck' with stuff at a higher price. Amazon seems pretty good about it:

You can set your frequency. Right now, ours is set at every six months.
If you need something sooner, you can request a shipment earlier.
If you don't need it, you can postpone the shipment. And they will e-mail you well in advance to ensure that you get adequate notice of a pending shipment.
Your 15% discount sticks. You'll always get 15% off the current price. The wording even suggests that the extra 15% might stay as long as the order is open, but that's a bit unclear.
You can switch your product. I'm pretty sure that if we need to switch diaper sizes as Little Boy Beagle continues to grow, we can update this on the order.
You can cancel anytime. Many people would have already canceled by now. I figure I'll leave it in place and see what the price is next time I need it. If the 15% is still cheaper than the store, why not leave it and adjust the orders as needed? If the bonus 15% sticks, that's even better!

On top of all this, they also rewarded people who purchased diapers a three month Amazon Prime membership. This gets you free two-day shipping on all orders, with the normal $25 free shipping waived. This alarmed me when I first saw it, because with the typical 'free' Prime membership, you have to opt out after the trial membership expires or you'll start getting charged the monthly fee. Not so with this. At the end of it, it simply expires (though I'm sure I'll get an e-mail or two asking me to consider paying for it).

All in all, this was a pretty great diaper purchase. It just goes to show two things. First, Amazon has great service. Second, there is a huge markup on diapers if Amazon can offer all this and still make money, because you know they wouldn't be going all out on selling diapers if it weren't lucrative for them.

Thanks for reading! Please subscribe to my RSS feed. This original Money Beagle post Copyright 2010 Money Beagle is authorized to appear only on www.moneybeagle.com. Thank you for reading and remember: It's a great day to be alive!
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Watch How Much Fabric Softener You Use

2010-09-01T16:44:00.000-04:00

One of the ways we've saved a little money is that my wife now cleans my work shirts. I still work in one of the remaining few offices where you're expected to wear a button down shirt and tie (Friday's are more casual). Before my wife left her job to be a stay-at-home-mom, we would take my dress shirts in to the dry cleaner to get laundered and pressed.

She's started doing it, and for the most part it works out well. It is time consuming, mainly the ironing, but she'll usually reserve a couple of hours and combine it with other ironing to get it all done every few weeks. And, the savings have been noticeable!

One thing we've noticed a couple of times is that there appear to be stains on the shirts. I generally don't stain my shirts at work and don't come into contact with anything that would explain this, so it was puzzling. In most cases, re-washing it with a little degreaser seemed to do the trick. Still, it was annoying.

I did a little research and I guess this is somewhat of a common occurrence, and can be blamed on one or both of the following: Dryer sheets and Fabric softener.

Apparently, both of these contain some oils that can actually cause grease stains on materials which contain polyester. Most of my shirts are made of a blend of mostly cotton but a slight infusion of polyester to assist with the wrinkling, so it kind of started to fit together.

I guess with high efficiency washing machines (front loaders), it's easy to use too much fabric softener, which is something that my wife adds to just about every load of our clothes. Even though the stuff we buy is made for such machines, and even though we add what the machine reservoir indicates is a good amount, it may still be too much, and then running it through the dryer cycle with a dryer sheet, which also contains some oils, can be overload. So, from now on, we'll be using less fabric softener in every load, and hopefully that will eliminate the random occurrences of stains on my shirts.

If you have a high efficiency washing machine, follow these tips to avoid the 'fabric softener / dryer sheet' stain problem:

Use less fabric softener than is called for. Cut the recommended amount down by half and monitor. You'll find a point where your clothes are still soft but you eliminate the stains.
Clean your fabric softener line. One thing that didn't apply to us, but I saw was a problem, is if your fabric softener area gets gunked up. At this point, you could have clumps that would enter the machine during a wash cycle and oversaturate particular areas with fabric softener.
Use dryer sheets carefully or eliminate them altogether. For smaller loads, use half a sheet. Consider phasing out dryer sheets and replacing it with a dryer ball, which does not contain the oils that plague dryer sheets.
Place your dryer sheets on top of the load before starting the dryer. Placing the sheet in your dryer after your clothes are put in will reduce the likelihood that the sheet will remain stuck to one item. This happened to us on our duvet cover, and after the dryer finished running, we had a spot the exact size of a dryer sheet from where it had gotten stuck.

Washing and drying clothes has sure gotten a lot easier than the 'old days' of wash tubs and drain boards, but there's still a lot that you have to know in order to make sure that your clothes last and remain wearable for as long as possible.

Thanks for reading! Please subscribe to my RSS feed. This original Money Beagle post Copyright 2010 Money Beagle is authorized to appear only on www.moneybeagle.com. Thank you for reading and remember: It's a great day to be alive!

12 Ways to Save (And Survive) At The Outlet Center

2010-08-31T17:46:00.000-04:00

We go shopping at the nearby outlet center twice per year. For us, it happens to coincide with our birthday months, due to a chicken dinner at a world renowned restaurant that is given for free during the month of your birthday.

We have usually scored pretty well at the outlet mall, so I thought I'd offer up a few tips on how to save money at the outlet centers:

Have a game plan - If you've not been to the outlets before, think about taking a 'stakeout' trip where you don't shop. If you're a seasoned veteran, you probably know your way around, but you should have a plan from parking to stores you know you want to hit, etc.
Have a shopping list - Just like when you go grocery shopping, it's important to have a list of things you know you might need. How much you stick to that is up to you.
Have a budget - Know the upper limit of what you are willing to spend. If you have no self-control, then get cash out for that amount and leave your credit / debit / ATM cards at home. If you've got self-control, you should still have a budget number anyways.
Know when to go - Outlets, just like other stores, will have better deals around certain times of the year. We usually go around Memorial Day and Labor Day (back-to-school) so there always seem to be extra deals. You will have to deal with larger crowds, but if you have your game plan sorted out, it's a small price to pay for some big savings.
Search for coupons - If you know particular stores you want to go to, see if they have any coupons available for printout online or through the website.
Sign up for deals - Many outlet stores will have sign-up sheets in the store to get you on their mailing and e-mail lists. It might seem like junk mail, but if you're suddenly being delivered coupons for 30% off your purchase at a store you plan on shopping at anyways, it's definitely worth signing up for.
Stay hydrated - Doing effective shopping most likely means you'll be doing a lot of walking. Make sure you bring plenty of water to stay hydrated. Avoid too much coffee or soda as the caffeine will work against you in efforts to stay hydrated.
Eat - Don't be that cranky shopper that gets that way because your stomach is growling. Be prepared with some on-the-go snacks that you can use for a quick boost. Granola bars, apples, carrot sticks, and crackers are easy to carry around, wont' spoil, and will give you a much needed pick-me-up.
Leave unwilling participants behind - My wife and I (along with Little Boy Beagle) go twice per year. That's my limit. Any more than that would drive me crazy. My wife will usually go at least one more time with her mom and sister. If kids or spouses are going to mope, complain, drag, otherwise, either plan for a shorter trip if they must be there (back to school shopping) or have them find other arrangements.
Comparison shop - Keep your eyes open for deals, even on stuff you've already bought. You might love the pants you got at Store A for $20, but don't stop looking even if you made the purchase. You might find a different / cheaper option at Store B, and returns are usually easy, especially if done the same day.
Know return policies - Make sure that you know the return policy for every item you bought, so that you aren't surprised if you want to return something and can only get store credit or if you lose a receipt.
Be patient - Outlet shopping can be overwhelming and a big task, but if you're patient and keep a cool head in the midst of other crazy shoppers, you can have a fun day filled with savings.

Happy shopping!

Thanks for reading! Please subscribe to my RSS feed. This original Money Beagle post Copyright 2010 Money Beagle is authorized to appear only on www.moneybeagle.com. Thank you for reading and remember: It's a great day to be alive!
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Happy Birthday....To Me!

2010-08-30T08:30:00.000-04:00

Today is my birthday so no finance post today. I'm now officially closer to forty than I am thirty, as today is the big three-six!

Catch you tomorrow!

Thanks for reading! Please subscribe to my RSS feed. This original Money Beagle post Copyright 2010 Money Beagle is authorized to appear only on www.moneybeagle.com. Thank you for reading and remember: It's a great day to be alive!
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Link Roundup: August 27, 2010

2010-08-27T07:31:00.000-04:00

We're heading off for a final camping trip for the summer so I thought I'd leave you with some excellent blog articles I've read over the past week.

Give these a read and consider subscribing to their blogs as they have great personal finance advice and stories.

Sustainable Life Blog is a little apprehensive about spending money on vacations and wonders "How Much Fun Should You Have While In Debt?" My opinion is that you should have a balance where you make sacrifices so that you get out of debt but that you don't burn yourself out by not enjoying life at all. This article demonstrates what I'd consider achieving that balance!
Free Money Finance was introduced to "A Creative Way To Give". I've never done this or been on the receiving end of it, but it seems like you could easily make someone's day with this approach.
My Dollar Plan is "Uncovering Rewards Programs For Every Purchase You Make" and this is definitely one worth checking out as you could be missing out on rewards for items that you purchase anyways. Great tips!
Money and Such is sensing a change in the air at work and not in a good way. Rather than bury his head in the sand, he is taking the bull by the horns as he announces "My Job Search Is On"
Budgets are Sexy brought in a guest post who wrote some "Tips From A Vegas Virgin" which are helpful for anybody looking to go to Vegas for the first time or who hasn't been in a while. I've only been to Vegas once and some of these would have been good to know beforehand.
My
Financial Samurai felt a little uncomfortable in a recent social situation and wonders what do you do "When Rich People Call You Cheap". Definitely not a cool situation to be in, and made all the more difficult when it's a 'friend' making you uncomfortable!
444Express gave us a penny by penny breakdown on how you should "Save money - Eat at home" using one of my favorite treats (ice cream) as the example. Anything involving ice cream is good in my eyes!
Funny About Money had an "Estate Sale Coup" and found some great items at bargain prices. I've always thought estate sales might be a way to find some good treasure, but it sounds like you definitely have to do your homework!
Little Miss Moneybags gives some advice on "How To Eat Cheaply In New York: Dining Out". These are great tips to keep in mind not only for New York, but really anyplace where you might be looking for ways to eat out on the cheap.
Give Me Back My Money is "Dreaming About Buying Property". I love articles like these because it shows that even with the housing market in shambles and the threat of deflation and every other bit of glum economic news, there are still people that want to buy and own a house for reasons that stretch outside of the purely financial. There is hope yet!
Len Penzo has been subjected to "DVDs From Hell".where movie studios have introduced their latest intrusion into your life with previews that seemingly cannot be skipped. Fear not, though, as the ever-resourceful Len provides tricks to get past this pesky intrusion.

Have a great weekend and enjoy the reading!

Thanks for reading! Please subscribe to my RSS feed. This original Money Beagle post Copyright 2010 Money Beagle is authorized to appear only on www.moneybeagle.com. Thank you for reading and remember: It's a great day to be alive!
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Free Bike Repair Bliss

2010-08-26T05:26:00.001-04:00

I haven't been riding my bike too much this summer and that has bummed me out. We didn't even take them down last year, because Little Boy Beagle was just a newborn, and things were crazy enough without having to worry about the bikes.

This year, we took them down, but mine was cursed with a problem with it changing gears by itself, which is extremely annoying to say the least. I kept putting off and putting off taking it to a bike place, mostly because I dreaded paying the bill.

We're going on a trip for our anniversary next month where we've gone in the past and bikes are a must-have for us. I knew I couldn't put it off any longer, so last week I toted the bike off to the repair shop. I had e-mailed them and described my problem, and they had given me a 'ballpark' quote of around $80. So, knowing that things usually cost more, I was figuring on dropping at least a hundred smackers for this repair.

I wheeled it in and explained the problem. The guy working the repair area placed it on a bike stand, took a look at things, said the chain, wheels, brakes, and frame all looked good. When I told him what was going on with the gears, he looked at it from behind, said 'Oh, yeah, this things right here (the derailleur) is a little bit out of alignment and that'll do that.' He pulled out a tool, make a quick adjustment, and said 'that should do the trick'.

I asked how much it would cost, figuring he'd at least charge me $20 or whatever. He waved it off. I joked with him that I was going to go ride around the parking lot and how confident was he that I wouldn't be coming back in? He was pretty confident.

Well, I rode it around the parking lot and a couple of surrounding streets, putting it through the test of changing gears, and he was right, I didn't go back in.

I was happy as can be about the money I saved. For the record, I did walk out spending $15 for a new kickstand, which also needed replacing.

While I had been waiting, the customer before me had an issue with a tire, and the same repair guy made quick work, and again, let the customer leave with 'no charge'. I wondered how they could do that but it occurred to me that it's a great practice. Why?

It didn't take long - Both repairs he did while I was in the shop took less than five minutes. Even a handful of these per day is not taking a huge amount of time out of his work.
There wasn't a lot of other work - Because most repair work happens earlier in the season, there wasn't a long queue of bikes in the back that did need a lot of repairs that I was taking his time away from. And, most importantly....
They created a future (paying) customer- After getting a simple repair job done for free, customers will most likely go back even for repairs that they have to pay for. Plus, when it's time to replace a bike, I'm sure they'll get some sales from the goodwill that they created. All in all, the little bit of time pays for itself from money that they can potentially make down the road.

So, I was very happy from my experience. I saved money and found a place that appears trustworthy that is now at the top of my list for future repairs and sales.

The only bummer in the story is that I didn't think to do this sooner, and missed out on a good portion of being able to ride my bike during the summer months.

Thanks for reading! Please subscribe to my RSS feed. This original Money Beagle post Copyright 2010 Money Beagle is authorized to appear only on www.moneybeagle.com. Thank you for reading and remember: It's a great day to be alive!

Ally Demand Notes It Is! (Bye Bye Forever GMAC)

2010-08-25T16:53:00.000-04:00

Back in May, I wondered what would happen to the GMAC Demand Notes name since Ally seemed to be taking over the GMAC brand.

It didn't take long, probably no more than a few weeks, before I got notification in the mail announcing that it would indeed be called Ally Demand Notes as it looked like the GMAC name would be erased from anything and everything.

I can understand that since GMAC was associated with pretty much everything bad about GM, the banking industry, the housing bubble, and the credit crisis.

Everything on the website and the information I get in the mail has completely eliminated the GMAC name and they are now called 'Ally Demand Notes'.

The checks still say 'GMAC Demand Notes' but since they are underwritten by a third party bank, they are still valid and will be honored. I confirmed this with customer service.

If you are eligible for participation in Ally Demand Notes (you have to be a GM employee or retiree, or related to one), I still think it's a good investment for long term cash holdings, where you are agreeable to some risk (they are considered a money market and are not FDIC insured). The interest rate is 2.25% which is pretty much double of even the best savings account or CD rates.

Though there is the risk I mentioned, I think (for the moment) that Ally looks to be on solid footing. If my opinion changes, I will definitely let you know!

Thanks for reading! Please subscribe to my RSS feed. This original Money Beagle post Copyright 2010 Money Beagle is authorized to appear only on www.moneybeagle.com. Thank you for reading and remember: It's a great day to be alive!

I Could Never Work In The Airline Industry

2010-08-24T06:28:00.001-04:00

There's one reason that I could never, ever work in the airline industry: Because I could never knowingly provide horrible customer service. Look at the MSNBC / NYT article 'Airline Fees That Test Travelers' Limits' and just look at some of the ridiculous things that airlines get away with nowadays.

Charging for checked luggage
Charging for carry-on luggage
Outrageous change fees (up to $150 or more for re-scheduling a flight)
Charges to ride standby. That's right, the plane has room but you're still going to pay $50 or more to catch that earlier flight if some airlines have anything to say about it.

These and some of the other practices being put into place are obviously being instituted to raise revenues. The revenue part makes sense. Businesses are in it to make money. But the part I have a problem with is that these things are being blatantly done at the expense of customer satisfaction, customer service, and really, the customer in general.

Many businesses would certainly love it if they could make more money. But does McDonalds charge you for refills on their soft drinks? No, you get free refills. Does Kohls charge you to exchange a piece of clothing for a different size? Of course not. Does the guy that comes to clean the windows quote you a price but then add on extra charges like 'Fee for climbing the ladder'? Never!

Why are none of these businesses doing these? Because they know that it would anger their customers and cost them business.

But, really, these are the exact things that the airlines do. Why? Because the competition is so limited (and shrinking more with every airline 'merger') and because nobody stops them. Plus, they know that most people aren't going to walk away from flying and choose a sixteen hour car ride over a three hour car ride. They have somewhat of a captive audience.

Still, I couldn't do it. I couldn't look someone in the eye and tell them that they're being charged for the things that the airlines charge for. I couldn't ignore passengers needs. I couldn't ruin vacations and holidays and family get-togethers all while looking people in the eye and saying 'too bad'.

Really, now that I think about it, how does anybody in good conscience work in the airline industry?

Thanks for reading! Please subscribe to my RSS feed. This original Money Beagle post Copyright 2010 Money Beagle is authorized to appear only on www.moneybeagle.com. Thank you for reading and remember: It's a great day to be alive!
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Reposting: Adventures In Insulating

2010-08-23T05:53:00.000-04:00

Welcome! I've been at this blog for slightly over two years, and I thought it might be time to re-visit what became my first 'popular' post. When I wrote this back in September of 2008, I was getting just a few visitors per day (mostly my parents and family members that I was begging to come visit). This was the first post I had that someone read that was submitted to StumbleUpon or Digg (can't remember which) that got some attention, and got me a lot of traffic. Since summer is coming to a close soon, it's a good time to start planning a fall insulation project to save you money in the coming months, so thanks for reading this re-post of 'Adventures in Insulating'.

I’ve mentioned, a couple of times, adding insulation to your attic as a good way to save money in the long run. Along with my father-in-law, I added insulation to my attic this past spring. I’m hoping to realize the benefits of the extra insulation with the upcoming heating season, and of course many to follow.

I wanted to share my real-world experience. I think these are things to keep in mind, some of which I had thought of and some of which took us by surprise. Because most people use blown-in insulation, I’ll focus on this type for this post. Also know that this assumes you’re working in the attic, as this is where we did mine, and is the easiest place to add extra insulation.

Do it yourself – Adding insulation is a two person job, but one that isn’t too challenging as long as you can handle some grunt work. Chances are hiring someone to do this will double your costs, which would mean that it could take twice as long to realize the savings through your heating bills.
Understand the concept of R-value - The higher the R-value, the better level of insulation you have. Different products provide a different level of R-value, so this makes it easy to compare.
Know what you have – You’re adding insulation to what’s already there, so unless your house is over 50 years old, you should have some insulation in place. You can add the insulation right over the top of what you have. It doesn’t matter the type (fiberglass vs. cellulose) because you can mix and match with no problems. Your goal should be to get to at least R-50.
Know what you want – There are two types of insulation that you can blow in. Each has its pros and cons. The pink stuff is fiberglass. The gray stuff is cellulose. Fiberglass has a lower R-value per inch so you would need a deeper pile than you would of cellulose. It’s also a bit easier to work with and a little bit less messy (not much), but it is also very itchy and moves around easier. Celluose is a bit messier, but it is more compact, it settles in so there’s not as much in the air. It’s also made from recycled paper, so I would recommend that solely on the fact that it’s more eco-friendly.
Know how much you’ll need - Lowes has a pretty decent insulation calculator. Grab a tape measure to get some measurements of your workspace, and the store will give you a rough number of pounds that you’ll need. Use this once you get to the store to calculate how many bags you’ll need.
Get a free machine rental – Lowes and Home Depot will rent you the machine that you need. It will be free once you buy a certain number of bags (I think you need to buy at least 25 which is not a problem for most jobs).
Call in advance to ensure that they have a machine for rent - One thing to be very clear on is whether you’re blowing into an attic from the first floor or from a second floor. The power on the motors needs to be different. For the first store I went to, they had promised that machines were available, but when I got there and told them that I was working in a second-story access panel, I had to go to another store to get a different machine.
Stock up on essential supplies – When you’re at the store, make sure to get some work gloves, safety goggles as well as some masks to cover your face and nose. A lot of dust will be flying around, so you need to make sure to protect yourself. Earplugs aren’t a bad idea other for the person that will be working the machine.
Take extra insulation – We did ours through Home Depot, and the way it worked was pretty cool. They took my credit card for a deposit and counted the number of bags of insulation I took, but didn’t charge me until I got back. That was great because I could take extra without having to worry about going through the returns desk, and didn’t have to take the chance of running short.
Prepare the area – The machine will have a hose that you’ll need to run through the attic access panel. Try to have the hose in the least amount of space within the house as possible. If this involves running it through a window, then this will be the best way possible, trust me!
Get to work early – If you’re working in the attic, chances are that it’s going to warm up quickly. When we did the work, it was probably in the mid-60s outside, but it got hot in the attic quick! Beat the heat!
Plan to build up the area around the access panel – If you’re adding six to eight inches of insulation, you’ll need to raise up the area around your access panel, otherwise great amounts of it will spill out. The professional way is to buy some plywood, cut it to size, and build up the area. We didn’t quite make it to that level. We had some heavy-duty cardboard lying around that we cut and nailed into place. It should probably be replaced down the line, but it definitely got the job done, especially since it wasn’t something we thought of beforehand.
Know your jobs – The person up in the attic will be spraying the insulation in. They should get a good a feel for the hose, be familiar with how high of a pile they’re spraying (marking off a few spots on the rafters with a magic marker helps) and know how to signal to stop the person running the machine if necessary. The person running the machine will need to keep the insulation flowing into the machine at a steady pace, keep the are clean, be alert to any jams, and be able to sense when the person doing the spraying may need to stop.
Know your machine – We ran into problems with the hose jamming with insulation. Turns out we had the flue all the way open. Most machines have a setting at how much should be sent through the hose. We learned the hard way to start off at the lower end of the scale and work our way up. If you go too low, the insulation will come out in spurts. If you go too high, the machine will jam. Your ideal situation is that the machine is spraying steadily at a nice, even rate.
Prepare to be dirty - You’re going to get dirty. No way around it. The area around you will be dirty. No matter how many tarps you put down, how often you sweep up, it doesn’t matter. Afterwards, you’ll probably be tracking it into the house, so make sure you have the vacuum cleaner handy, because you’ll be using it often for the first few days following.
Congratulate yourself on a job well done – After you get everything done, the machine returned to the store, and your house put back to normal, pat yourself on the back because you are doing something that will pay dividends for years to come. As energy costs continue to rise, you’re going to save more and more.

As with any home improvement project, make sure to consult the professionals. By no means is this a comprehensive guide. The experts should be able to help you cover the basics, as well as make sure you know how to use the machine safely. The purpose of this post is to provide information that may slip through the cracks, and may end up making your day just a little easier.

Good luck and happy insulating!

Thanks for reading! Please subscribe to my RSS feed. This original Money Beagle post Copyright 2010 Money Beagle is authorized to appear only on www.moneybeagle.com. Thank you for reading and remember: It's a great day to be alive!
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Link Roundup: August 20, 2010

2010-08-20T05:51:00.001-04:00

Here are some excellent blog articles I've read over the past week and a half or so that I think are worth mentioning, and certainly worth reading if you haven't seen them yet.

Give these a read and consider subscribing to their blogs as they have great personal finance advice and stories. But, as always, make sure to come back to Money Beagle!

Financial Samurai felt a little uncomfortable in a recent social situation and wonders what do you do "When Rich People Call You Cheap". Definitely not a cool situation to be in, and made all the more difficult when it's a 'friend' making you uncomfortable!
444Express gave us a penny by penny breakdown on how you should "Save money - Eat at home" using one of my favorite treats (ice cream) as the example. Anything involving ice cream is good in my eyes!
Funny About Money had an "Estate Sale Coup" and found some great items at bargain prices. I've always thought estate sales might be a way to find some good treasure, but it sounds like you definitely have to do your homework!
Little Miss Moneybags gives some advice on "How To Eat Cheaply In New York: Dining Out". These are great tips to keep in mind not only for New York, but really anyplace where you might be looking for ways to eat out on the cheap.
Give Me Back My Money is "Dreaming About Buying Property". I love articles like these because it shows that even with the housing market in shambles and the threat of deflation and every other bit of glum economic news, there are still people that want to buy and own a house for reasons that stretch outside of the purely financial. There is hope yet!
Len Penzo has been subjected to "DVDs From Hell".where movie studios have introduced their latest intrusion into your life with previews that seemingly cannot be skipped. Fear not, though, as the ever-resourceful Len provides tricks to get past this pesky intrusion.

5 Ways To Save At The Beach

2010-08-19T16:30:00.000-04:00

We love going to the beach. It's a great way to get out of the house and to enjoy the summer heat, which has been in big supply this season.

Here are five ways that we save money at the beach:

Buy an annual pass - Our beach charges $5 for admission or $30 for the season. If you know you'll be going enough times, get the annual pass. If it's your first year, though, you might want to do daily passes just to make sure you don't fork over the money for the annual pass and then find out the beach doesn't hold your interest for the entire season.
Don't buy food at the snack bar - If I had to guess, I'd say that beaches probably make any profit they make from the snack bar. Don't give in.
Bring your own snacks and drinks - Packing a cooler full of stuff is not only going to save you money, but chances are you'll pack it with much healthier alternatives than you'll find at the snack bar.
If you must get a snack, remember your pre-school lesson (Share!) - I know that you can't always avoid the snack bar. Sometimes, on a hot day, an ice cream just sounds too good to pass up, and the cooler solution isn't going to let you bring your own. But, if you do give into that siren call, don't get one treat for everybody. Most of the time, half of a treat will give just as much satisfaction as an entire one, so split your treats and save some money.
Bring a library book - Reading a book at the beach is one of my all time favorite pastimes, and it costs me nothing (except for a few pennies in gas) to get my books from the library versus spending money at the bookstore for something I'll probably read only once.

As you can see, the beach can be a great, fun way to spend time in the hot summer time, and it can be done on the cheap!

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Small Gaps Can Mean Big Waste

2010-08-18T17:06:00.002-04:00

Our bedroom has a vaulted ceiling. It also sits on the second floor and catches a lot of afternoon sun. So, it's typically the hottest room in the house on warm, sunny days.

Even so, I was starting to get a little tired of exactly how hot it was getting and decided recently to get to the bottom of it.

I was noticing that the temperature in the room would rise much faster than in other areas in the house. I expected that the things I outlined above would have an impact, but after spending some time watching the temperature fluctuations, I figured there was more to the story. I started seeing the temperatures rising even before the sun hit it. And, later in the day, I would see the temperatures stay warm even after the sun stopped hitting it direct.

I knew that I had some sort of leak or problem somewhere and was determined to fix it.

This past Christmas, I asked for and received a Black & Decker TLD100 Thermal Leak Detector. This is a really nifty tool that will read the temperature of surfaces. It works really easy. You turn it on and point to a spot that sets your baseline. It will read out the temperature and shine a green light on the surface. Move it around to where you think you have possible leaks, and it will both update the digital readout, as well as change the color of the light that shines to blue or red, indicating a temperature chane from your 'baseline' reading.

I'd used this over the winter to find a leak around the seal for the front door. I suspected a leak, and when the light changed to blue, sure enough I found it.

This time, since I was looking for abnormally warmer temperatures, this time I was looking for the red spot.

I set the baseline on a wall, and began moving around. I suspected the warmth was coming from a window, so I trained it all around the bay windows and window box. While it was a little bit warmer, it didn't seem to be any more so than usual. I started going around the walls and up on the ceiling when, voosh, it turned red at the peak of the ceiling.

But, not all the way along the peak, just around the ceiling fan.

Upon closer inspection, I found the problem. The fan is installed at the peak of the cathedral ceiling. In order to create a flat surface to mount it, the builders installed a box that the fan hangs from (the box is attached to the rafters). When I looked, there was a small gap between the top of the fan cover and the box. Because the mount attaches directly to the rafters, I surmised that the leak was coming in from the attic.

So, the gap was allowing air to come in from the attic, and since we run the fan almost constantly, it was having an even greater effect by drawing air directly from the attic.

The temperature readout was about 12 degrees different in the area immediately surrounding the fan.

I had found my leak!

To seal it, I grabbed a little bit of insulation and stuffed it into the gap. It's not noticeable when you look up, but it has sealed that area. After I did that, I waited a couple of hours and took some new readings.

Sure enough, the temperature around the fan was normal (the light stayed green) and the room no longer heats up like it did. It still is a little bit warmer than other rooms, but it's what I would expect.

The part that kills me is that this has probably been like this for the eleven years or so that the house has been standing. We've lived here three years, so I'm just as guilty of assuming that the status quo is OK. In this case, it was probably about eleven cents worth of insulation that will save a lot of money in heating and cooling costs over the coming years.

If you suspect leaks in your house, this tool will most certainly pay for itself very quickly. I'd highly recommend it. Check it out here.

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Don't Be Wasteful When Shopping In Bulk

2010-08-17T16:21:00.000-04:00

Personal Finance Firewall did a great post a couple of weeks back on how to get the most of your products when shopping in bulk.

The best part of the post, in my opinion was going through the differences between the various dates and how they're labeled (e.g. Best By, Sell By, Use By). This information would probably be useful printed out and kept on the wall in people's pantry!

We buy quite a few items in bulk. I thought about a few things we do that weren't mentioned that might go along well with the referenced post.

Buy stuff we know we'll use - This may seem obvious, but most of the time, we'll only buy stuff that we know we use regularly. An example here is raisins. I started using raisins regularly with my morning breakfast of oatmeal. Once I knew that was part of my routine, it made sense to start buying raisins in bulk, and we've saved a lot because of it.
Stock your cupboards and pantry using First In First Out - When you get home from Costco or whatever your choice of bulk food provider may be, it's tempting to just stick the stuff you bought on the shelf in the easiest way possible. That usually involves some combination of filling in empty spots, or pushing what's there to the back. This usually means you'll have older stuff in the back, where it will often fall victim to the 'out of sight, out of mind' downfall, and end up not being used. I take the time to put our newest stuff in the back.
Re-arrange things now and then - Even if you do keep the older stuff in the front, you'd still be amazed at what you forget about. Every so often, I'll do a complete overhaul of our bulk food stuff. Most of our bulk food stock goes on a shelving unit at the bottom of the basement stairs. I'll move everything around. This accomplishes to things: It makes sure that I touch (and become aware of) every single things we have. The second is that it returns order and organization to the mix. Often, with bulk food buying, you'll need more space for one thing and less for another than you did previously. Re-arranging will allow you to make best use of your space, and reduce waste.

I'm sure there are a lot of other ways. Give the article above a read, and see if what I added on can help you make the most of your bulk food buying.

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Why The Kindle Price Wars Mean Absolutely Nothing To Me

2010-08-16T17:31:00.001-04:00

Lately, Amazon has been in a price war surrounding their Kindle with other e-readers. The Kindle has been out of a couple of years, and long story short, it allows you to read books in electronic book format.

When it came out, I think the price was somewhere in the neighborhood of $299. I remember they were in pretty high demand, as visits to Amazon's website would often indicate that they were 'Out of Stock'.

Lately, though, other e-readers have entered the market, and the price of the Kindle has now dropped to $139 last I checked. I'm not sure if this has all of the same features, or less, or maybe even more than the $299 model.

Why?

Because even at $139, I have no interest.

A cheap e-reader with a lot of features sounds cool when you consider that it's half the price that it used to be, but the fact remains that for a guy like me, that's still way too expensive.

The simple fact of things around the Beagle household is that we buy very few books. I will buy (or ask for a gift) books from favorite authors or that I know I will read often.

Otherwise, it's the library, where the books cost nothing.

Let's face it, most books I read are going to be read one time. There are some books I've read that I've loved so much that I will probably read again, but I'm totally cool with paying nothing for them at the library. If I were to 'take advantage' of the Kindle (or another e-reader), it would force me to start paying for stuff that I now pay nothing for.

Why would I do that?

I know there are a lot of people that don't have as easy access to the library as we do. Or, maybe their library doesn't carry a good selection of the types of books that they want. If that's the case, maybe a Kindle is the right answer.

But, for me, the library is close, they have a great selection, and I've developed a pretty nifty system for making sure that I always have books to read by placing things on hold via their computerized system (read about it here if you want the details). If that doesn't come through, I have no problem wandering around picking things off the shelf until I find a book or two that I think might work.

When I do that, some are great reads and some I put down after a couple of chapters. In any case, I don't have regrets because I have little invested. I'd hate to make that same mistake with an e-reader.

Are e-readers worth the money, even at a price-war enabled price? Maybe for some, but for now, it's not for me.

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Good News: The Electric Bill Was High!

2010-08-13T16:57:00.001-04:00

OK, so that's not all good news, but bear with me.

The weeks in the last billing cycle were pretty hot. We had quite a few days in the high 80's and even into the 90's. In addition, there were quite a few humid days. This meant that we were running our central air quite a bit. The front of our house (where both our bedroom and that of Little Boy Beagle face) gets a lot of afternoon sun and there isn't ~~much~~ any shade, so for us, the A/C is a necessity when it gets into the mid-80s.

Still, on nights when it cools off and isn't humid, we'll open the windows, and close them up again the next day before the house gets too warm.

Even so, I knew that we'd used our A/C more than any other month than in the past. I looked and our previous 'all-time-high' bill was $160. I was estimating that we'd probably hit in the neighborhood of $225-250 for the current bill.

So, when I got the e-bill, I hesitated for a moment, not sure what I'd find. And, while it did crush the previous all-time high, it came in at $192.

I was happy with that because it was lower than I'd estimated, plus we didn't cross the $200 threshold.

Hopefully this month is a little cooler and we can stave off another year before we have to worry about crossing the $200 mark. So, while the electric bill was high, the good news is that it wasn't as high as I'd feared it might be!

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Car Registration Fees Review

2010-08-12T16:25:00.000-04:00

One of our registrations comes due in August. As such, I always get the renewal form in late July.

In order to level out our spending, I have a 'sub-fund' dedicated to Car Registrations & Roadside Assistance (AAA) costs that I just contribute $25 per month. For the past couple of years, this has worked out great.

We bought a new (used) car last year. It actually was an SUV. I knew that our cost would most likely increase. This was mainly due to the fact that it was newer than the car it was replacing (a 2007 vs a 2003) plus that it was a bigger class of car (the state of Michigan classifies it and most SUVs as a 'station wagon', which never fails to amuse me).

So, how much did it go up?

By $65, or 73%. Last year, I paid $89 to renew the plates on my 2003 Olds Alero. This year, the cost was $154 for the 2007 Buick Rainier.

That was a few bucks more than I had thought it would be, but at least I was prepared for it going up. We will probably have to increase the amount we contribute to this fund, but it will only be by a couple of bucks per month, so we should easily be able to absorb this.

The good news is that, for the longer we keep the cars, the annual renewal price will fall. I'm not sure how most states work, but Michigan charges you based on the estimated re-sale value of the car. Since most cars naturally depreciate, this should fall. The biggest thing I'm keeping my eye on is an idea I've seen floating around as a way to raise funds for road repairs, which would be to raise the registration fees, by as much as 100%. If this ever happened, we'd have to quickly bump up the amount we contribute to this, otherwise we'd be coming up short in a hurry.

Registration fees are just one element to remember as part of the overall cost of owning a vehicle. Don't forget to set money aside, and more importantly, don't forget to renew your tabs or you could be in big trouble!

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Even The Cats Can't Escape Smaller Packaging

2010-08-11T16:21:00.002-04:00

The cats were running low on dry food, so I went to get some additional food for them.

It seemed to me as I was hefting the largest bag (best value) into the cart that it went in a little easier. As I was standing in the middle of the store feeling pretty good about my apparent increase in arm strength, something dawned on me.

Maybe I shouldn't be signing up for Mr. Universe after all!

Maybe, just like in the grocery store, they're pulling off a price increase by shrinking the product size!

I don't have definitive proof, but I'm pretty sure the bags used to contain eighteen pounds of food. Now they contain sixteen.

In fact, if I were to go way back, I'm pretty sure I remember getting over twenty pounds at a time back at one point. The cats have been eating the same food for quite a few years, so chances are, this isn't the first 'package reduction' that they've done.

So, attention makers of Pro Plan cat food, if this is your latest gimmick, then shame on you for giving into the all too common practice of shrinking your package sizes as a way to ~~rob your customers blind~~ mask a price increase.

I wish companies would just have the guts to raise prices and leave the package sizes alone! All it does is means that I have to go to the store all the more often and still pay more in the end anyways, plus having to use more gas and time because of the more frequent trips.

Thanks for nothing, Pro Plan!

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No Surprises: How To Never Be Surprised By A Utility Bill

2010-08-10T17:22:00.000-04:00

One of my biggest pet peeves is the price of water in our community. For some reason, our metro Detroit community is among the top of the list not only in overall price but also in average annual cost increases.

With this, I've done a lot of different things to try to keep our bill down. We don't water the lawn as often as we used to, we use the rain to our advantage, we have a low usage washing machine, we turn the faucet off when brushing our teeth, and probably other little things that take some of the pain away.

Lately, I've started doing one additional little thing just to make sure that the water bill doesn't take me by surprised. It's a simple thing:

Often, when I'm down in the basement (where the water meter is located), I take a look at the reading on the meter. Our billing cycle is every two months, so by looking once a week or so, I can make sure that we're not blowing our usage out of the sky. Having lived in our house for three years, I have a very good idea what regular usage is for everyday stuff (washing clothes, washing ourselves) and how that changes when we are watering. Keeping tabs on that lets me make sure that we're on track for our usage.

So, if I saw a spike in usage between one week and the next, I go over what could possibly be causing it. If there ever were a problem, like an undiscovered leak, catching it would be a lot easier and would save a lot more money by discovering it sooner rather than when the bill comes.

I have to admit, I don't typically venture outside too often to read the electric and gas meters, but the same principle could be applied, especially in high usage times like the middle of winter or the dead heat of summer, when those utility bills tend to spike. I'm thinking that, at least for the electric meter, maybe I'll start taking a peek at it when cutting the grass, which is usually a once-a-week chore. That would let me get a handle on the usage so that the bill doesn't send me into shock!

If you have access to your meters, I think this is a pretty good and easy way to keep an eye on your usage, and to make sure that you're not surprised by a utility bill. What do you think?

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Links: For One Day Only, Don't Read This Blog!

2010-08-09T05:27:00.000-04:00

I've been bad about doing a link roundup lately, so I thought I'd give it a go and catch up on some great posts that I've read from fellow personal finance bloggers.

Give these a read and consider subscribing to their blogs as they have great personal finance advice and stories. But, as always, make sure to come back to Money Beagle!

Money Reasons gave his thoughts on what he would do if he struck it big in "If I Were Rich Today" - This inspired me to do a similar article. I think this is something we all dream about so go ahead, think of what you might do if you found a pot of gold!
Monevator gives the opinion that we are not in for a lost decade in "No Lost Decade: Why We're Not Japan". The Japanese economy has not been anywhere near levels that it was even in the 1980's and 1990's, but this article gives opinions on why our situation, though it shows many signs of moving towards a 'lost decade', isn't the same.
Mrs. Nespy's Frugal World included a post called "8 Interesting Uses for Chalk" and I have to say, these are very interesting and extremely useful. I think that my next trip to the dollar store (where I'm guessing they have chalk) will include some white chalk, as it appears to have a lot of great uses especially in the laundry and cleaning areas!
We try to be frugal when doing laundry, but Fabulously Broke takes it to an extreme I've not heard of as she admits her "Laundry Secret: I Don't Use Laundry Detergent 99% of the Time". She says that the agitation gets her clothes clean that aren't stained or spotted. I'm not sure if I'm tempted to go this far, but for those daring enough, try it! At the very least, it's a great reminder that most people probably use way too much laundry soap.
Everybody Loves Your Money has seen "Impromptu Garage Sales" popping up a lot more frequently, and wonders if they are becoming more from desperation than from trying to raise a few extra bucks.
Sweating the Big Stuff asks "Are Social Shopping Sites Too Enticing?" If you find yourself buying GroupOn deals just for the sake of buying them, you might be getting a little too caught up. Remember, you're only saving if you are getting money off on something you would buy anyways. If 'buying a deal' means you spend money you wouldn't have otherwise spent, you are not saving!

My Old Condo Has Been Given Up

2010-08-06T06:20:00.002-04:00

Our family was driving through a parking lot after leaving the grocery store when my wife randomly spotted my old neighbor entering a drugstore in the same plaza. She works somewhat close to where we live, so this made sense. We stopped the car and went in, as she's a great lady and we hadn't seen her in quite some time.

She caught me up on the fact that the person that bought my condo has given it up and turned it back to the bank.

This didn't surprise me but it still left me sad. I loved the condo, it was the first place I owned, but the signs were there that her purchase might not work out:

She financed the entire purchase - She purchased at the tail end of the 'easy credit' phase and was able to finance the full purchase.
She used Countrywide as her mortgage company - They ended up being the epitome of bad loans with awful rates. Again, she was probably one of the last people to get a loan from that company before the bottom fell out.
She ended up moving out a few months later - She was a single lady, but I heard that she reconciled with an ex and moved out of the state, leaving the condo as a rental to try to stay afloat
The condo market just sucks - Condo sales around the metro Detroit area have been harder hit than any other element of residential real estate. Quite honestly, I bet the purchase price on most condos in that complex would be less than that of what I originally paid in 1999.

It pains me to see that happen to a place that will always hold great memories for me. I lived there for eight years, I proposed to my wife in the living room, I learned how to paint, and went through a lot. I always hate seeing someone walk away from their mortgage as well, and I'm not at all advocating what the owner has done, but at the same time, it doesn't surprise me in the least.

The positive is that, according to my old neighbor, the owner didn't go the route that so many people do before they leave a house, where they trash it and rip out anything of value. That actually happened to a unit behind me shortly before I moved out, and it's no fun to see. In any case, once it gets sorted out with the bank, hopefully it will sell quick and make someone happy. It's an end unit, it sounds like it's been kept up and would be in good selling condition assuming nothing happens to it in the mean time. And, I can certainly vouch that it's a great place where a lot of great memories are possible!

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Whatever You Do, Don't Buy Designer Sunglasses

2010-08-05T16:08:00.000-04:00

I saw a 'money saving' news story on one of the local news channels that discussed the value (or lack thereof) in purchasing 'name brand' or designer sunglasses.

Long story short, the extra money that you spend on a designer label, like RayBan or Oakley, simply isn't worth it. One thing that I never knew is that many of the labels (the two I just mentioned included) are actually owned by one company, Luxottica, so the competition between brands really isn't competition at all in many cases.

To top it off, Luxottica owns many of the retail outlets that sell the designer brand of sunglasses, including the staple of many malls, Sunglass Hut. It's also reported that when you shop at one of these stores and pay for a pair of 'designer label' sunglasses, upwards of 60% of your purchase is pure profit for Luxottica, and a good portion of what you're paying for at a mall store is the ridiculously high overhead that goes into operating a mall store.

In other words, don't buy designer sunglasses! They're just not worth the extra cost. Yes, you get the fancy little label on the side, and you may even get a little case to put the glasses in that makes you feel extra special, but even so, most of what you're paying for is rent, employees, and most importantly, to line the pockets of some already rich investors.

I have never had a pair of designer sunglasses. I guess I've always been too cheap to buy one, and now I'm glad of that!

My experience is that I will buy most of my sunglasses from one of the kiosk stores at the mall that sells 'compare to' styles of the designer brands. Chances are, they're identical or practically identical. I know that I'm still paying for overhead, but the overhead at a kiosk has to be pennies on the dollar compared to a store. The rent charge is obviously much lower, and there's only one employee at a time at most kiosks. Most of the sunglasses I've purchased here have been in the $15-20 range, and I've been satisfied most of the time.

Personally, I find that, for me, sunglasses reach their end of life under one of the following circumstances:

They go out of fashion and/or I get sick of them
I lose them
I drop them and scratch the lenses

I've had a couple of pairs that have started to fall apart, where a screw might start working itself loose repeatedly, but considering that I can buy five or six pairs of the type I typically buy for the same price that one pair of 'designer' pair cost, I am confident that I have still come out ahead.

Way ahead.

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Flexible Spending Account Review

2010-08-04T17:57:00.002-04:00

We have a flexible spending account option through my benefit plan, which allows me to have money deducted throughout the year which can be applied toward out-of-pocket medical costs. The main benefit with such an account is that the money is deducted pre-tax, so you are avoiding the taxes on the amount you have deducted. The main risk with such a plan is that it is a use-it-or-lose-it plan, where if you don't use all of the money in the calendar year, you lose it.

So, as you can tell, coming up with an accurate estimate is important. If you budget too little, you'll end up with out-of-pocket costs that miss the tax benefits. If you budget too much, you've wasted money.

I thought it would be worthwhile to do a quick review to see where we stand for the year.

Original Budget

The original budget was done last October / November. All of the categories are pretty straightforward, except for the 'Surgery' category. When Baby Beagle was born, they told us that he had a very minor issue which would require surgery, and that having the surgery as a baby was the recommended course of action. The underlying condition was not life-threatening, but still one that needed to be corrected. As such, we knew that there would be some costs associated with this procedure (and I'm happy to say it went great!).

I'll also comment up front on the dermatology costs, which might seem high. Both my wife and I have minor skin conditions, so knowing that regular visits are required, I used previous years costs as an estimate. Some of the medications we require can be costly, so that's why the pharmacy costs seem rather high.

Surgery: $500
Doctor Visits: $75
Dermatology: $200
Dental: $200
Vision: $200
Prescriptions: $290
Miscellaneous: $35
Total Budget: $1,500

Spending So Far:

Surgery: $607.38
Doctor Visits: $15
Dermatology: $117.35
Dental: $85.92
Prescriptions: $228.20
Vision: $98.00
Miscellaneous: $51.46
Total Spent to Date: $1,203.31

At first glance, it looks like we're in trouble as we've spent 80% of our budget, but actually we're in pretty good shape. The surgery is done and over. Between my wife and I, we've had most of our preventative dental work done for the year. We switched dermatologist offices and are all going less than we had anticipated, and my wife is the only one who will probably need glasses, so the bulk of the vision costs are done.

Revised Remaining Budget:

Surgery: $0
Doctor Visits: $85
Dermatology: $45
Dental: $30
Pharmacy: $60
Vision: $50
Miscellaneous: $30
Total Remaining Costs (estimate): $300

If this were to hold true, we would be within $3.31 of our budget, which would be pretty cool. In looking at our revised estimates, the doctor visits category got bumped up because my wife and I need physicals, and lab testing is recommended, which can add a few bucks. We also have some anticipated visits for Little Boy Beagle, as he'll most certainly get sick a time or two once the weather cools. I also have $30 for miscellaneous, which basically covers over the counter medicines, which are currently covered. This, however, is the last year that this will be the case as part of the 'health care reform' (aka Obamacare) is to remove this coverage.

I'm happy with where we're at, and barring something unexpected, we should be right on track. If we're a little bit under, we have the flexibility this year to fill it in by stocking up on some over the counter stuff. If we're a little bit over, chances are it will be a very small amount and we'll still have gained quite a bit of tax savings on the $1,500 we budgeted.

How are you doing on your health care spending for the year?
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Three Ways To Control Impulse Spending

2010-08-03T07:59:00.002-04:00

It's almost inevitable. You go to the store and you walk out dropping a bunch of money on stuff you had no intention of purchasing. Some people are worse than others at this. Some purchases have more of an impact than others. For example, an unexpected pack of gum probably isn't going to set you back as much as a 50" Plasma TV.

I use three ways to curb our impulse spending.

Identify your 'problem areas' - If you sit down and think about it, you'll probably find that there are certain areas in which you typically are prone to impulse buying. For some, it's clothing stores. For others, it's at the grocery store. Identify what you would consider your top problem spots. For me, I've discovered that my biggest pinch points are at Costco and at home improvement stores.
Make a list before you go shopping at these stores - Most of the time when we impulse shop, it's because we don't have clear direction on what we want to spend. If you set limits by creating a list, chances are you will stick to this list or at least curb your impulse spending dramatically. Now, whenever I venture out to Costco, we prepare a list beforehand, and same with the home improvement store. Though we occasionally find something that gets added, having a list has probably cut 90% of impulse shopping in these stores.
Estimate prices on the list - If possible, expand your list to also create a spending estimate by item. This obviously requires that you have an idea of what things are going to cost, which is probably a pretty good idea anyways. This worked great at Costco, because in addition to having a list, I was able to add up the estimated cost per item and generate a number of what I expected to spend. Once I had that number in my head, I found that I was going to work even harder to achieve that spending limit.
(Today's a BONUS day, so you get an extra step at no cost!) Once you've conquered your top spots, see if there are other types of stores you want to apply this to. You may only have one or two types of stores which this is a problem. Just be sure that you don't start making a list for every single trip you make out. That can have the opposite effect because you'll inevitably feel overwhelmed and give up altogether. Creating a balance here is key. For example, I don't normally create a list when I go shopping for clothes, because I typically buy too few clothes rather than too many (says Mrs. Beagle).

Follow these easy steps and I can practically guarantee that you will cut back on a good deal of your impulse spending, and that's just money that you can then stash away for more productive things like debt payment, retirement savings, or that always important emergency fund.

Thanks for reading! Please subscribe to my RSS feed. This original Money Beagle post Copyright 2010 Money Beagle is authorized to appear only on www.moneybeagle.com. Thank you for reading and remember: It's a great day to be alive!

Carnival of Money Stories: August 2, 2010

2010-08-02T08:01:00.001-04:00

Welcome to the August 2, 2010 edition of The Carnival of Money Stories.

We spent this weekend at a family members house that lives on a beautiful lake. We had a very fun time, and we never left once we got there except to leave. Our money story is that we had a great mini-vacation just for the cost of gas and a food stop on the way there. Not bad!

Editor's Picks

Kaye presents I'll Admit It - I'm an Idiot posted at Mrs Nespy's World. I thou

Intelligent Speculator presents Why Facebook is succeeding where Myspace has failed posted at Intelligent Speculator

PT presents We Never See the Money, So We Don’t Miss It posted at Prime Time Money.

The Rest

Mike Collins presents I’ve Spent $2703.59 at Amazon! posted at Saving Money Today.

Writers Coin presents The Importance of Failing Fast posted at The Writer's Coin

studenomist presents How to Write a Business Plan in Five Easy Steps posted at studenomics.com.

Silicon Valley Blogger presents Oil Spill Disaster & The Costs of the Pursuit of Profit posted at The Digerati Life

Contact presents The Unfortunate Knock-On Effects of Financial Reform posted at NerdWallet Blog - Credit Card Watch

Jim & Martha presents New Credit Card Applications Hurt Your Credit Score posted at Wanderlust Journey.

BIFS presents 7 Common Money Mistakes posted at Budgeting In the Fun Stuff

Jeff Rose, CFP presents How to Check Your Credit Score posted at Consumer Boomer

Doctor S presents One Benefit of Racking Massive Credit Card Debt posted at Finance Your Life

Big Cajun Man presents A magic number: 833.33 posted at Canadian Personal Finance Blog

BWL presents When is the right time to buy a new car? posted at Christian Personal Finance

J. Savings presents Your Take: Lending Money to Friends & Family posted at Budgets Are Sexy

Carlos Sera presents A Puzzling Tale - The Case for Bonds in 2040; Financial Tales posted at Financial Tales

Kristina presents Retiring Happy posted at Dual Income No Kids

The Wise Squirrel presents Flexibility and Embracing Change Helps the Bottom Line posted at Squirrelers

FMF presents Balancing Enjoying Your Money Now Versus Later posted at Free Money Finance

Super Saver presents Retirement Finances - What worked and what did not posted at My Wealth Builder.

Neal Frankle presents How An Immediate Annuity Payout Really Works posted at Wealth Pilgrim: Money Management Advice, Financial Stess Management, Addiction Recovery Plan & Resources

Austin Morgan presents The FF Podcast Ep. 7: Money Tips for 20-Somethings with MD from Studenomics posted at Foreigners Finances

Moneyedup presents How To Purchase Life Insurance posted at MoneyedUP

Madison DuPaix presents 11 Ways the Government is Padding Your Wallet This Summer posted at My Dollar Plan

Donna Freedman presents Old chestnuts contain a kernel of truth. posted at Surviving and Thriving

Barb presents Assertive, Aggressive, or Inappropriate? You Decide posted at Barbara Friedberg Personal Finance

Bucksome presents Shopping for Car Insurance...Again posted at Buck$ome Boomer's Journey to Retirement

Briana Ford presents How Your Online Activities Can Ruin Your Credit posted at GoBankingRates

Lauren Mendel presents Car Financing - What to Know posted at Richly Reasonable - Successes and failures, all in the name of living reasonably

Craig Ford presents Expensive Shopping is Good | How To Shop For Value, Not Price posted at Money Help For Christians

Jacob A. Irwin presents How I Saved Myself Money With Rental Cars (And You Can Too) posted at My Money Blog - Personal Finance and Investing

Submit your blog article to the next edition using the carnival submission form. Next week's host will be Simplie Forties.

I hope that everybody enjoyed the carnival and has a great week!

Image courtesy of Day Trips Canada - www.day-trips.ca/

Thanks for reading! Please subscribe to my RSS feed. This original Money Beagle post Copyright 2010 Money Beagle is authorized to appear only on www.moneybeagle.com. Thank you for reading and remember: It's a great day to be alive!
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