Personal Dividends - Money+Lifestyle

Kids and Restaurants – Are You Wasting Money?

Kevin Mercadante — Mon, 28 May 2012 12:00:24 +0000

Everyone knows that eating in restaurants can add up to a large expense and is one of the first, best areas of your budget to cut when you’re looking to save money. But this is even more true if you have children, and it isn’t just about having extra meals to pay for either.

I’m talking mostly about full service, sit down restaurants, where you select from a long menu of choices, and have your food served to you at your table. This isn’t just high end restaurants either, but also the moderately priced ones.

As much as we as adults might like to go out to dinner, it isn’t usually the best situation for kids. Bringing them into restaurants can be a huge waste of money.

Kids don’t always eat what they (or we) order in restaurants

Restaurants typically have kid’s menus with meals aimed at kids—sometimes that works, sometimes it doesn’t. McDonalds does an excellent job with this, in part because the entire operation is set up to be kid-friendly, but also because they’ve virtually institutionalized Happy Meals (and the all-important toys they contain), Chicken McNuggets and other kid favorites. Kids know what they are before they even get there, and that’s half the battle.

Full service restaurants do their best on this front, but few of them have child oriented meals that anyone immediately recognizes. Kids, it seems, are more susceptible to the power of marketing than we assume. If they don’t recognize it, if they didn’t see it on TV or hear that their friends had it the other day, they may not want it.

Kids don’t generally find food to be entertaining. We may find an oriental restaurant, a seafood restaurant or a steak house to be just what we’re looking for in a quiet, relaxing dinner, but kids prefer the chaos and finger foods of Chuck E. Cheese.

Kids get bored

Small children usually can’t sit still for more than a few minutes, and that’s exactly what they’re expected to do in full service restaurants. Boredom can lead to resistance, rebellion or even tantrums, which can result in a meal not eaten. End result: money wasted.

Fast food restaurants have this concept worked out. They understand that with kids, eating is tied to activity and often provide indoor or outdoor play facilities to make it happen. Kids will run around, get hungry and eat enough to justify the parents buying them at least a Happy Meal. Everyone is happy!

None of that is typically available at full service restaurants. Once junior gets bored, the meal is over and mom and dad spend the rest of their dinner time trying to keep him happy. Failing at that can mean an early departure, with mom and dad eating suddenly left-over restaurant food out of a Styrofoam container a couple hours later.

The kiddy discount disappears earlier than we think

So far we’ve been talking about small children, but the restaurant situation doesn’t necessarily improve as kids get a bit older.

When kids are little, they get the often drastically lower-priced kids meals and that helps. At moderately priced restaurants these meals are often priced at levels comparable to adult meals at fast food restaurants. So far, so good.

But well before they turn 18, those discounted meals disappear. At certain restaurants they’re gone as soon as a child turns 10! They’re hardly adults at that age and don’t have adult appetites, but poof—no more kiddy meals–or their budget friendly prices.

At that point the whole game changes. You’re no longer paying for two adults and, say, two “children”. When your youngest comes “of age” in the restaurant world, those $40 quick dinners out rise to $60. If you do that once a week, you’ll spend over $3,000 in a year.

Kids like going to restaurants, just not the same ones we do

I’m not plugging for them, but let’s face it, fast food restaurants are much better suited to kids. No, the food isn’t healthy, and they aren’t the kind of places for parents to relax and enjoy a leisurely dinner. But prices are a lot lower, kids can have fun and they’ll usually eat what you buy.

As much as we might have the best of intentions in bringing them into full service restaurants, kids may not like the food and refuse to eat it. But an hour or so after you leave the restaurant, they’re hungry! Now you have to either feed them at home or head for the nearest golden arches. Result: two meals paid for one child.

When our first child was born, my wife and I found that our restaurant wings were clipped. It was either fast food joints, or stay at home. Anything better cost more than it needed to. We learned quickly that kids and restaurants are a budget-buster.

If you have (or had) children, what has your restaurant experience been? What can you recommend to parents who want to eat out, but don’t want to spend a lot of money>

Full article at Kids and Restaurants – Are You Wasting Money?

Money + Lifestyle Roundup

Tom Drake — Fri, 25 May 2012 12:00:12 +0000

This week Get Rich Slowly shared some great money saving advice with their post, Thinking Outside the Lunchbox: Brown Bagging Without Boredom.

Groceries are a large part of anyone’s budget. That’s why Wise Bread wants you to know these 12 Tricks to Make Your Groceries Last Longer.

Moolamony wants to know, Do You Really Need $150,000 A Year To Live Comfortably? You might just be surprised.

If you’ve been working with your brokerage lately, you’ll want to read this post by Bargaineering that answers Should You Bank at Your Brokerage?

This week Couple Money gave some great financial advice in their article on Effective Ways to Save On Your Electric Bill (Infographic).

For some people, investing in the stock market can intimidating. This week the Financial Samurai discussed Investing in the Stock Markets: Jumping Completely Back In!

If you really want to add stress to your wedding and completely waste your money, Five Cent Nickel lets you know Nine Great Ways to Blow Your Wedding Budget.

Speaking of weddings, Enemy of Debt wants to make sure you Survive Wedding Season Debt Free.

This week Mint Life shared some Consumer IQ: Over a Barrel: 5 Tips to Avoiding the Money Trap.

So many of us nowadays are caretakers for elderly parents. The Senior Resource Central wants you to know How to Take Time for Yourself While Caring for Your Kids and Your Senior Parents.

Full article at Money + Lifestyle Roundup

How Much Could a DUI Cost You? [Infographic]

Miranda — Thu, 24 May 2012 12:00:06 +0000

When we think of DUI offenses, we often think about the dangers posed to society. And, while we don’t want to minimize the dangers associated with driving under the influence, it might help some to re-think their habits if they really take a look at how much a DUI could cost over the long term.

The following infographic from Total DUI offers a look at some of the possible costs associated with a DUI violation.

from TotalDUI.com

Cost of Insurance

One of the biggest costs to you as a someone with a DUI is the insurance cost. This is because it’s ongoing for years. According to the infographic, the cost of insurance for a DUI can increase by between $5,000 and $10,000 over the course of five years following a DUI/DWI conviction. Additionally, some states require you to carry extra liability insurance after a DUI. That can further boost the costs associated with insurance.

Your DUI conviction can remain on your auto insurance record for a few years, and that means that any time your premiums are reviewed, you could end up paying more. Get too many convictions, and you could become uninsurable.

Other Costs of a DUI

There are other costs for a DUI as well. Of course, costs vary by state, since state laws governing the enforcement and penalties for DUI/DWI vary. But some of the costs you might run into include:

Required treatment costs
Engine interlock devices
Community service
Court fees
Fines
Costs associated with liability if you damage property or become involved in a collision

Overall, the costs of a DUI can start to add up. Even if you don’t end up in a wreck, if you are caught the costs are high, and the consequences last for years. According to the infographic, it can cost between $9,000 and $24,000 if you end up with a DUI. It seems clear that a better option is to ride with a designated driver, or hire a cab. Indeed, even if you have to pay a relatively steep price for the cab ride, you still come out ahead.

Think of the Long Term

As with so many issues related to personal finance, it’s important to think about the long term. Before you head out for a night on the town, think about the long term costs of your actions. In many cases, it’s wiser to plan ahead by not driving your own car, and instead opting for some form of public transportation. That way, you don’t end up in a situation where your judgment is impaired, and you think you can handle driving, even though you probably can’t.

Consider the impact that one DUI could have on your finances. What could you do with that extra $9,000 to $24,000? There are a number of options, from investing to going on vacation to buying a car. That’s a lot of money that ends up going for nothing if you are convicted of DUI. What do you think? Does this infographic do a good job of illustrating the costs of DUI?

Full article at How Much Could a DUI Cost You? [Infographic]

For Superhero Movie Lovers, The Next Couple of Years Should Be Great

Miranda — Tue, 22 May 2012 12:00:45 +0000

I enjoy superhero movies based on comics. I love comic books and comic book characters, and I love the movies that they spawn. Mainly because I like my movies to be escapist. While I do like a good movie that explores deeper human motivations and issues, for the most part — especially during the summer — I like a blockbuster that’s all about the entertainment value. (Besides, who says superheroes can’t teach you about life?)

This point was hit home with me once more. I went and saw The Avengers on opening weekend. Was it an earth-shattering cinematic masterpiece? No. But it was entertaining and chock-full of awesome if you like to see superheroes doing what they do, and if you are a fan of Joss Whedon’s humor. From that standpoint, The Avengers was everything I want a summer superhero blockbuster to be. And it falls in line with other superhero movies that I’ve enjoyed in the last few years.

And, for someone who likes this sort of thing, the success of The Avengers and other comic book superhero movies means that there’s still more fun to come.

More Superhero Movies on the Way

Just this summer, of course, there are more superhero movies coming. I’m extremely excited for The Dark Knight Rises because Batman is my favorite superhero. The Nolan reboot movies have been great, and I’ve enjoyed them quite a bit. I’m excited for the conclusion to the trilogy, and excited for the Bane storyline. Also coming this summer is The Amazing Spider-Man, a reboot that will, hopefully, erase the bad taste from the last Spiderman movie, which was disappointing.

Other superhero movies that are on the way for 2013 to 2014 look to be a lot of sequels. Which is fine, since I liked a lot of the movies from the last few years:

Man of Steel (2013): I think Superman’s a gomer, which means that the only comic book movies that I don’t automatically love are Superman movies. And this reboot can’t be any worse than the last Superman movie.
Iron Man 3 (2013): Even though a lot of people didn’t like Iron Man 2, I thought it was still a lot of fun. But mainly for the Senate Committee hearing scene. And I’m excited for another Iron Man movie because I like him almost as much as Batman (my favorite superheroes are a little darker, and have flaws).
The Wolverine (2013): Go Wolverine! Probably one of the more interesting origin stories in the X-Men universe, and this one supposedly has Hugh Jackman’s Wolverine headed to Japan to learn about being a samurai.
Thor 2 (2013): Sadly, Kenneth Branagh isn’t directing this one. I know lots of people didn’t like Thor, but I thought it was a lot of fun, even with the mangled Norse mythology.
X-Men Sequel (2014): This is supposed to be a sequel to X-Men First Class, which I liked better than the X-Men movie trilogy that came out a while back (although I did think they were fun movies).
Captain America 2 (2014): I liked that last year’s Captain America focused on the origin story. The sequel is supposed to look at how Steve Rodgers adjusts to modern living.

There are rumors of another Batman Reboot to come in 2015 (because you can never have too much Batman), and other comic book movie ideas kicking around include Wonder Woman, Aquaman, the Flash, Fantastic Four reboot, and a Justice League movie that can be released after movies surrounding Justice League members are released.

What do you think of the comic book movies on the way? What are you looking forward to?

Full article at For Superhero Movie Lovers, The Next Couple of Years Should Be Great

Don’t Let Money Rule Your Life

jesswagner — Mon, 21 May 2012 12:00:45 +0000

How many times have you heard someone say, “I hate money. It’s the bane of my existence?” How many times have you said that yourself? Usually, the speaker of these words isn’t being literal, but rather referring to how much time he or she spends thinking about money problems, which contribute to psychological stress. If you have said this or thought this, you’re not alone.

A number of studies support the claim that money ultimately makes people unhappy. The pursuit of money causes stress; the inevitable debt that comes with spending money causes unhappiness; and the struggle to get out of debt creates an unrelenting cycle.

So how does one get out of this cycle? How do you make it so that money doesn’t rule your life? Here are a few tips:

Pitch your credit cards. Prepaid cards are on the rise and the reason is simple: it prevents people from spending money they don’t have. As opposed to credit cards which enable spending sprees that compound people’s financial difficulties, prepaid cards assure a certain level of frugality. Take a Green Dot overview to learn more about how prepaid cards compare logistically with credit cards, debit cards, and traditional checking accounts.

Only use your savings for an emergency. Your savings account, if you have one, is not for buying yourself a new video game system. Your savings account is there for the future, and for emergencies. If you find yourself making excuses for why you should be able to withdraw money from a savings account, you should ask yourself if what you’re going to purchase is really necessary and, more importantly, will it contribute to future growth.

View your job as your greatest asset. Right now the economy is still witnessing a relative weakness in the stock market and in the housing market. A person’s greatest asset is most likely their job which, unlike a home, will continue to produce value each year. View your job not as the source of discretionary spending, which creates a cycle of having to work in order to live, but rather as the engine behind your savings account.

Want money to take a backseat to your happiness? You have to make the effort to reduce the kinds of poor life decisions that allow money to gain so much leverage. This means not using money on credit, not squandering your savings, and dialing in to your own future.

Full article at Don’t Let Money Rule Your Life

Money + Lifestyle Roundup

Tom Drake — Fri, 18 May 2012 12:00:10 +0000

The New York Times released some interesting news that Coffee Drinkers May Live Longer.

This week Expert Enough dispelled 3 Ridiculous Popular Beliefs About Learning That Hold Us Back. How many do you still believe?

Get Rich Slowly tells you How to Buy Brand Name Items at Generic Brand Prices. There are some great tips you’ll want to read here.

The Consumerism Commentary shared some frightening news this week with their post on how Half of All Americans Are Not Saving for Retirement.

No one likes calling customer service but Mint Life listed 4 Tips to Avoid Becoming a Consumer Lost Cause. These could save you hours!

Man vs. Debt continued on their podcast series this week with Regrets of the Dying and Lessons Learned on our Film Tour – Episode 5 – Man vs. Debt Podcast.

This week Credit Karma discussed the difficult question, Is the Student Loan Debt Bubble Ready to Burst?

Moving costs can be terrible be swallow but thankfully Frugal Dad shares How to Save Money on Moving.

If you’re in the job market, you’ll want to read this post by the Financial Samurai that tackles what to do if you Got A Job Offer But The Pay Is Too Low: Tips On Negotiating A Higher Salary.

Cash Money Life discusses the Facebook stock issue and explains Why I’m Not Buying Facebook Stock.

Full article at Money + Lifestyle Roundup

What is an IPO?

Miranda — Thu, 17 May 2012 12:00:56 +0000

With all the hoopla surrounding the anticipated Facebook IPO, many people are wondering what, exactly, an IPO is. When you understand this, you have a better chance of figuring out whether or not getting in on an IPO is worth it to you. Besides, it helps to understand terms like this if you are going to bandy them about in conversation.

IPO: Basic Definition

An IPO is an initial public offering. It is basically the first time a company decides to sell stock to the public. Often, when a company decides to launch an IPO, it is said to be “going public.” The stock is no longer just offered to company owners and employees, and the company is no longer considered private. Now the public can buy shares, and anyone with the money to purchase the shares can have a degree of ownership in the company. The company is considered a public company.

Why Do Companies Have IPOs?

Companies are interested in IPOs because they offer the opportunity to raise more money. In an IPO, investors are buying shares from the company, so the money from the sales goes directly to the company. This provides the company with an infusion of capital that can be used for a variety of purposes. If a company wants to expand, an IPO can be a way to raise a large amount of capital — especially if the IPO is highly anticipated as the Facebook IPO is.

Once the IPO is over, though, the money for shares is exchanged between investors. If I buy 10 shares of Facebook stock during the IPO, the money goes to the company. However, if I decide to sell five of the shares in two months, I receive the money from the investor that buys the shares from me. Facebook doesn’t get the money anymore. In order to raise more money, Facebook would have to issue more shares, or go through a buyback and then sell those shares again later.

Should You Invest in an IPO?

Investing in an IPO is an interesting opportunity. However, you need to be aware of some of the realities of investing in an IPO. While some of documented that IPO prices are often low, they don’t always pan out to big profits for the “regular” investor. Indeed, if you think that you are going to get the Facebook IPO for an amazing deal, you might be disappointed. Insiders actually get the first crack at low initial costs set by investment bankers and the companies themselves.

In the first few hours or days of trading, a share price can skyrocket. However, they often settle down and the gains aren’t as huge as expected. Indeed, you might be disappointed when you go to sell a week or two later, only to find that the share price hasn’t moved as much as you would like. Getting the jump on a good IPO price is hard work for the average investor, and it’s even harder to determine if you will be able to see decent profits.

If you believe in the company, though, an IPO might be just the thing to help you get in on the bottom floor, and see a solid buy and hold stock.

Full article at What is an IPO?

Do Children Make Us Happy?

Miranda — Tue, 15 May 2012 12:00:01 +0000

With Mother’s Day over, and with Father’s Day just around the corner, many of us reflect on what it’s like to be a parent. Many of us say that we find parenting fulfilling, and that we are happy, but some studies suggest that this isn’t the case. Indeed, over the course of decades, many studies find that parents are unhappy as they have more children.

Over the years, since the 1950s, researchers have been trying to measure levels of happiness in parents. With married couples, some studies find that satisfaction decreases as children are introduced into the mix, and only really increases later in life — after the children have left the house. However, parents continue to insist that having children make them happy, even though it doesn’t seem as though they really are. Or, at the very least, there are indications that parents could be happier with fewer children, or with no children at all.

The Reality: Raising Kids is Challenging

Children can change the relationship dynamics in your family, and it can sometimes be difficult to raise them. Children require a lot of time and effort. They can’t do anything on their own at first, and it can be frustrating to try and reason with them. Additionally, you might be restricted in the activities you can do if you are committed to spending quality time with your child. Plus, if your child is involved with activities, you can feel as though your time is being commandeered by baseball games and school plays. It’s easy to begin to feel as though you are no longer in control of your schedule.

Indeed, some of the realities of raising kids involve feeling as though you aren’t completely in control. That can be hard sometimes, and it takes practice to put someone else’s needs and wants ahead of your own. The potential for resentment can increase. This is especially true if you begin toting up the cost of having kids. While there are plenty of ways to reduce the costs, you still sometimes think about what the money could have been spent on instead.

Raising children is probably one of the most difficult things you can do, and there are times that you just may not be happy with what you are doing.

Does that Mean It’s Not Worth It?

Of course, the fact that you aren’t delirious with happiness all the time doesn’t mean that it isn’t worth it to have kids. Even though there are times I am annoyed with my son, or times that I am frustrated, overall I don’t regret having him. I don’t wish that he hadn’t been born. And, when I see him make good decisions, or succeed in some way, I feel a surge of pride that makes the hard work worth it.

Sometimes, worthwhile things aren’t “fun.” Sometimes obligation and duty don’t make you happy all the time. But, in the long run, the difficult things can be worth all the trouble. Especially when you feel as though you succeeded in raising a person you’re proud of. Everyone is different, and has to decide for themselves how many kids to have — or whether to have kids at all. But if you approach it with a good attitude, chances are that, in the long run, it will be worth it, even if there is a little unhappiness now.

What do you think?

Full article at Do Children Make Us Happy?

The Importance of Negotiating the Perfect Relocation Package

Danielle — Mon, 14 May 2012 12:00:20 +0000

Part of dedicating your time and energy to a particular company means you may face the need to move to a new location when business expands. Even with your company’s help, moving is an expensive proposition. To protect your income and savings, you’ll want to negotiate a relocation package with your company. If your company is a good one, it will extend you the courtesy of making this transition as stress free as possible.

Know the Costs

What are the costs of a corporate relocation? You are going to need to pay movers, purchase moving insurance, work through the sale of your home, purchase a new home, travel to your new location, and secure temporary housing. The more knowledgeable you are about the costs of your move, the better your position will be when it’s time to negotiate the package.

Consider Your Security

Moving is always a bit scary. There are questions, concerns and expenses that will arise through this process. Having a strong relocation package in place will help give you a sense of emotional security as you face the move. It will ensure that some, if not all, of the costs of the move are covered, so your family does not have to worry about adding that to your existing budget.

Research Potential Cost Increases

Any time you move, you face the potential to have a cost-of-living increase. Utilities may be more expensive, or houses may cost substantially more. These increases on your budget will add strain to your family if you do not have a relocation package in place. It is not unfair to ask your employer to help keep you lifestyle consistent upon moving.

Stick to the Facts

As you negotiate for your relocation package, stick to the facts. Do your homework to determine how much the various aspects of the move will cost, what real estate costs are in the new location and what changes your family may experience along the way. A carefully constructed proposal backed by facts is more influential than a simple plea for help.

Look at Your Family’s Needs

If you have a family, you’re not the only individual affected by this move. Consider your family’s needs, such as your spouse’s need to continue working or your children’s need for quality education. If, for example, the public schools in your new location have poor ratings, you may need to negotiate a salary increase to cover some of the cost of private school tuition. If your spouse is not going to be able to find work in his or her industry after the move, that change in income needs to be considered as well.

Once you know the costs, prepare your proposal for the hiring manager. Arrange it to show how the package would be mutually beneficial, and take the position that the company values your input and wants you in the new location, so they can afford to offer you some help with the move. If your proposal is backed by good supporting data, then you’ll be in a good position to get the assistance you need for a smooth move.

Full article at The Importance of Negotiating the Perfect Relocation Package

Money + Lifestyle Roundup

Tom Drake — Fri, 11 May 2012 12:00:11 +0000

Most of us have trouble realizing what we really want in our lives. Copyblogger wrote an insightful post about How to Craft an Offer That Can’t Be Refused. This is a great read for business owners.

This week Man vs. Debt talks about the 5 Things We Love About Being a One-Car Family.

We all love Target and this week Wise Bread shared some of their Best Money Tips: How to Save Money at Target.

If you’ve recently made the switch from car to bicycle, you’ll want to check out A Beginner’s Guide to Bicycle Maintenance by Expert Enough.

This week the Canadian Finance Blog discussed a tricky question, Should You Donate to the Homeless?

Body language can easily dash your hopes for getting the job of your dreams. Learn How to Put Style in Your Body Language thanks to Forbes.

Staying on a budget can be very hard. This week Money Ning explained how to go about Saying No to Spending More Money.

If you’re a stay at home parent, you will want to read this post on Moolanomy that discusses 3 Financial Implications to Consider for Stay at Home Parents.

It’s nearly summer time and that means warm weather treats! This week Oh She Glows shared 3 Ready-in-a-Jiffy Warm Weather Snack Recipes! They’re easy to make and vegan, which means you’ll start your summer off healthy.

Gold is still all the rage but Free From Broke investigates Is Gold a Good Investment Right Now? You may be surprised.

Full article at Money + Lifestyle Roundup