This change is weighing me down.
Grab your wallet and examine the contents. Are you carrying around things that make you vulnerable to identity theft? Are you needlessly carrying around receipts and cards that weigh you down? Are you missing important documents should you get into an accident? In my case, the answers are yes, yes, and yes.
Here is what’s in my wallet:
Vitals – license and current insurance card
Money – $41 in cash plus $4.91 in change
Plastic – main credit card, debit card, and AAA card
Plastic money – gift cards to Starbucks, TJ Maxx, Jo-Anns,
Plastic that is occasionally useful – loyalty cards for FedEx Kinkos, The Body Shop, Club Bev, Anthropologie, and the Ocean State Library system
Paper – 18 receipts, 8 coupons, two business cards, and a sticky note with two ID numbers I use for work
Lists – contents of boxes that I put in storage and carried in my cheap cross country move
Personal – two pictures of me and friends, two bobbi pins, half of a picture frame mount
My excavation was promoted by an email I received from a women’s personal finance site called LearnVest.com. According to the site, there are only 10 things you should carry.
1. Your main credit card—only.
2. $25 to $50 in cash.
3. A.T.M./debit card.
4. Driver’s license.
5. Insurance card for both health and auto insurance.
6. Transportation card, such as an unlimited rail pass.
7. Reward cards for stores you visit frequently (grocery, drug store, etc.).
8. Gift cards.
9. Membership cards (such as to your gym).
10. Airline cards.
Now for what not to carry in your wallet.
1. Personal information like your PIN (although a first name and phone number is OK in a note to someone who find’s your wallet)
2. Account numbers
3. Social Security card
4. Back up credit cards (they belong in a safe place at home)
Opps! I made three mistakes. Carrying around two ID numbers for work could make me vulnerable if someone know how to also log into that account. My receipt load is way too high; it’s time to sort out what I need to file and shred the rest. And I took my health insurance card out a few days ago and forgot to put it back in, which is a no no.
How did you do?
Best website logo ever.
Here are four cool new money-saving sites I’ve been meaning to share with you, plus a link to a explainer piece on invite-only shipping sites like Gilt Group.
Clicker.com – the site’s motto – “what’s on online” – had me fantasizing about finding free episodes of my favorite TV show, 30 Rock. Sadly, Clicker.com is so comprehensive it took me 8 minutes to find the show’s homepage. Once there, I see glorious links to every episode ever with links to watch. Many are paid, i.e., require me to pay for access.
Clicker.com has similar pages for movies, music, web originals, live TV (FIFA World Cup, for instance), and there is a page for trends. You can create playlists and get a notification when a new episode is available. Clicker.com is a bit confusing at first, but I recommend setting aside 15 minutes to familiarize yourself with the site. If you are really confused, scroll over the teeny tiny arrow to the right of each tab, and when that teeny tiny arrow expands into a drop down menu, click on the “browse by alphabet” link.
SiteJabber.com -this site aims to inform consumers about websites and online businesses to avoid fraud by collecting reviews from regular folks like you and me. It also has tips for consumers on evaluating sites, which I wish more people did. Plus, SiteJabber.com has one of the best slogans ever, pictured above. This site is supported by a grant from the National Science Foundation.
HalfOffDeals.com – this is an oldie, actually. HalfOffDeals sells gift certificates for restaurants, spa, golf courses, and a lot more for 50% off flat. The discount isn’t as big as say, Restaurant.com, but there are many fewer restrictions. In Los Angeles, a $50 certificate to La Fonda Restaurant, which is renown for its mariachi show, is $25. You can search for deals within 10, 30, and 60 miles of a particular zip code. The site makes a cut of each certificate sold.
BillShrink.com – also an old site, but it has a new feature that may apply to you. The site, which suggests credit cards and phone plans that save you money over your current ones, now lets you compare the price of TV services in your area. The site earns a referral fee for each person who signs up for a new service through the site.
Bonus: Curious about how invite-only shopping sites like Gilt Groupe work? Switched.com explains how they work and reviews the major ones.
kevin/Flickr
This post is brought to you by Mint.com, an excellent source for a budget planner.
I’m getting fed up with consumers – the little guys like you and me – taking the blame for the economy. We as a nation spent like crazy, lost a ton of money in the housing and stock market, and now are getting blamed for being careful with our money. “Even as the economic recovery plods ahead, many American consumers are refusing to come along,” says an AP story published today. “They’re not spending freely – and they have no plans to.”
The story makes it seem as if “spending freely” were a good thing. Craziness!
The headline of the story in my local paper (it might have been different in yours) is, “Economy’s new threat: frugality.” If so, here is the face of the enemy: Marjorie Feldman of St. Louis, who owns a home that lost 20% of its value and who saw her retirement account shrink by 15%. Marjorie’s confidence in the economy will “never” recover, according to the story.
That’s code for she’s not spending like she used to. Marjorie’s new frugal spending habits, which many Americans have adopted, are important because consumer spending accounts for about 70 percent of our nation’s economy. If Marjorie and others in her situation would max out their credit cards, we could see the economy recover, the story seems to say.
Or…we could recognize that our economy has an unhealthy dependence on consumer spending that is not sustainable.
Instead of spending beyond our means, we could budget and live within our means. We could save money to retire before we croak. We could save so that social security, Mediccare, and unemployment are not our only safety nets. We could save so our kids can get through college without crippling debt. We could save so that when times get tough we have emergency savings to rely on.
Americans currently save an average of 3.1 percent, down from last year’s peak of 6.4, the story says. I save 10-20% of my income because I feel responsible for my fiscal future. Why do you save?
Evil Erin/Flickr
I’ve gotten a lot of questions from readers about my month-long cash-only experiment. Why am I only spending cash in April? What is the goal? Did my “emergency” mattress purchase come from savings or the regular budget? How much money do I have left to spend this month? Answers below.
Q: Is the mission of your cash-only experiment to find out how much money you need to live on per month? How much you want to live on per month? Or some combination thereof? – Concetta
A: Neither. I know how much money I have to spend after bills and savings every month. And most months I’m good at staying within the limit I’ve set for myself.
Q: Is the point just not to use credit? Or is it more about how to use credit smartly? – Concetta
A: Yes and yes! I usually rely on credit heavily because I spend cash quickly, don’t like going to the ATM, and prefer not to carry gobs of money. But studies show people are more reluctant to spend cash over credit. An NPR story from 2008 says psychology is responsible. I was curious if spending only cash would change my habits and reduce my overall spending. In the process, I’m learning how to use credit smartly.
Q: Part of an exercise like this is to be able to defer those expenses until they do fit into the budget. Is the point of this to simply pay cash for everything (no matter if the budget is met) or is it to begin the process of defining wants from needs? – Janet
A: Yes, the point is to pay cash for everything, even major purchases. In my book, defining needs versus wants is unrelated to how you pay for them. Instead, defining needs versus wants is about sitting down with paper, pencil, and a calculator and creating a first budget. Once you have taken into account regular bills, irregular expenses, and fixed expenses, you will know how much money you can actually spend each month on fun stuff like meals out, movie tickets, and clothes.
Q: What happened to the mattress!? – Sarah
Back story: I put off buying a mattress for so long that after three sleep-deprived nights I had to start sleeping on the couch or shell out for a new mattress. I chose the latter, seeing how the couch is covered in dog hair. From browsing mattress sale flyers, I knew I could get one for under $1,000. I researched coils, padding, and natural fibers online and realized only two things mattered. Was the mattress comfortable? If so, did it fit my budget? A good friend highly recommended IKEA and from the website I was confident I could find a mattress within my budget, less than $500.
A: I went to IKEA, found a comfy mattress within budget, and lugged it home with the help of a burly friend. I’m sleeping easy, but debating whether the $533 mattress should come out of my monthly budget or savings? I tossed around the pros and cons for a week, asked readers to weigh in, consulted friends, and decided the mattress will come out of my savings.
Here’s why. I have ample savings to cover a big last-minute purchase like this. Even though I put off the mattress purchase until it became an emergency, for weeks I had been mentally preparing myself for the big purchase.
Q: What I want to know is how you researched this mattress for the features you wanted and price before spending the money. For example, did you consult Consumer Reports? Tell all, BB. – Diane
A: See above.
Q: So how much money do you have left to spend this month? (I submitted this one!)
A: My target spending was $1,200 for April. If that number seems high, hang tight. I’m writing a future post about my budgeting system and why my so-called discretionary spending is higher than other budgeting systems. So far I’ve made three ATM withdrawals totaling $1,200, but the $533 mattress came from savings so I have $667 left to spend this month. Not bad!
We have a winner, folks! More than 650 readers entered the GoBankingRates contest on BargainBabe.com for a chance to win $500 worth of groceries. The randomly selected winner is…April from Dayton OH. Congrats!
Oh my gosh! I’m replying!
What all do you need from me? I’m so excited! Thanks so much!April
Thank you to everyone who participated! There will be another giveaway in a few weeks.
Brithanglishman/Flickr
Time to play that game again where I review my monthly credit card bill and pick one purchase. That I really. Should not. Have bought.
Groan.
This month’s dishonorable mention goes to the $10.99 I spent getting my car washed and vacuumed. Yes, my mother was coming to town and I wanted her to think my car is always neat and tidy.
But making time to wash it myself at the drive-in car wash would have done the job just as nicely – and only cost $4. Last month’s regrettable credit card purchase was a USB postal scale that cost me $8.10. Readers had plenty of spending problems, too.
On a happier note, my credit card bill last month dropped significantly – a few hundred dollars. Was it tied to the self-induced public credit card bill flogging? Perhaps!!
What do you regret buying this month?
UPDATE: Christine regrets a sweet birthday purchase.
Oh boy! I’ve got a doozy! My daughter turned one year old this past weekend and we were having a SMALL party. Nothing fancy, just cake and appetizers. I was in a hurry and had heard about a great bakery in Canoga Park. I went in and spent $70 on a cake for a one year old. I must have been out of my mind. I could have gone to Costco and spent $16.99. ARGH!!! DUMB, DUMB, DUMB. The cake was good, but not THAT good! Lesson learned!
Mike has NO regrets. Kudos to you!
This is my favorite post of the week. Because it makes me look back on my week and go “what shouldn’t have I bought?” I did good this week! I only bought necessities! Go me!
Gwenypics/Flickr
I’ve been feeling generous towards a low-income friend lately. Not that he needs any help, but I am able to give it. I’m not interested in giving this friend a loan, but I’m considering subsidizing various activities with him, like picking up the lunch tab or treating him to a movie.
The prospect of giving gifts to a friend outside of Christmas, birthdays, and special occasions makes me nervous. Is this even appropriate? Will I hurt his pride? I called etiquette expert Nancy Mitchell for tips. Here’s what she advised.
What are the rules when it comes to giving gifts to friends?
I think the number one rule is to know the friend and know how to proceed. Would the person be wiling to accept things or is the person extremely proud and you’ll have to use subterfuge?
Let’s start with the person who may be very proud and not be willing to take what they think is charity. You can call them up and say, I got a gift certificate to a restaurant or theater. I would love to have you come with me, are you available? They might not have to know you went out and bought the gift certificate yourself.
Or say, Someone gave me two tickets to the hockey game. Would you like to go? If you had a friend who had children, give child care once and a while. I’d love to babysit sometime. Can I babysit and give you an evening out? Or say ‘I’ve got too much of a certain product. Pass things on, share some of the wealth. Offer to share frequent flyer miles.
Is it ethical to give gifts like this to friends who, if they knew the whole story, would say no?
I think it is because you don’t have an ulterior motive. You are giving from your heart and you are showing great sensitivity to someone’s situation. It’s not going to hurt anyone, it’s going to help.
What are the no-nos of giving?
You would never let anyone in on the secret. It’s between you and whoever is the recipient. Because if the cat got out of the bag there could be some hard feelings.
What about if your friend is open to receiving gifts? (more…)
Reader Debra wins my review copy of Creative Unemployment: How To Transcend Job Loss
I would love to read this book. I have been looking for work since the end of April – it is very emotionally draining.
I hope this book helps you get through this difficult time, Debra. If you missed my review of the book, author Harlan Kidwell Jr. focuses on the emotional journey that follows getting laid off. One thing that comes up often – even when you have a job – is how to talk about money with friends who want to spend more than you do. Socializing can be a minefield when you are cutting back!
To reduce spending, go over your budget again or attend a totally free swap meet.
FruitsAndVeggiesMoreMatters.org
Here is an updated list of in-season fruits and vegetables, which are almost always cheaper than buying out-of-season produce. Greater supply…lower prices. The price of items on the winter fruits and vegetable list will be rising.
This list comes from FruitsAndVeggiesMoreMatters.org. Almost all of these spring fruits and vegetables are familiar to me, unlike many of the items on the winter fruits and veggies list.
In-season produce for March, April, and May
Apricots
Artichokes
Asparagus
Belgian Endive * this is good fresh or lightly sauteed with olive oil, salt, and pepper
Broccoli
Butter Lettuce
Chayote Squash
Cherimoya
Chives
Collard Greens
Corn
English Peas
Fava Beans
Fennel
Fiddlehead Ferns * no idea what this is – any recipe suggestions?
Green Beans
Honeydew
Mango
Morel Mushrooms
Mustard Greens
Oranges
Limes
Lychee
Pea Pods
Pineapple
Ramps * again, I have no clue what this is – any ideas?
Rhubarb * pictured above
Snow Peas
Sorrel
Spinach
Spring Baby Lettuce
Strawberries
Sugar Snap Peas
Swiss Chard
Vidalia Onions
Watercress
Click on the items that are underlined in blue for recipe suggestions and fun facts about the fruit or vegetable. Did you know Chayote Squash is a good source of vitamin C and will keep for up to a month if refrigerated in a plastic bag? Or that you should never eat Rhubarb leaves? Deep red Rhubarb stalks are sweet and rich. Unlike some produce, size does not indicate tenderness.
A longtime reader sent me this series of photos depicting origami using one dollar bills. It is incredible! These paper figures are apparently made by an artist named Won Park, who does amazing things with paper. (Thanks to reader Andy for sharing Won’s homepage!)
The email forward that is circulating the web says “Origami is the traditional Japanese art of paper folding. The goal of this art is to create a representation of an object using geometric folds and crease patterns preferably without the use of gluing or cutting the paper, and using only one piece of paper.
“Won Park is the master of Origami. He is also called the “money folder”, a practitioner of origami whose canvas is the United States One Dollar Bill. Bending, twisting, and folding, he creates life-like shapes in stunning detail. Be sure to see his home at the end of the art.”
One Dollar
One Dollar Butterfly
One Dollar Camera
Two Dollars Battle Tank
Two Dollars Chinese Dragon
One Dollar Crab
There are another 10 origami images after the jump. (more…)
This post is brought to you by PlayMe.com, which provides free streaming music from their catalog of more than 2 million songs.
Below is a guest post from Abby who blogs about her personal observations, including ocassional posts on coupon clipping. Abby grew up in Kentucky, works in PR, and is a very spunky gal. Below she explains how she used coupons to get a cart full of groceries for 57 percent off!
During my last trip to Kroger, I got $71.79 worth of groceries for $30.98. 25 items—all ones I like and won’t waste—at an average cost of $1.24 each.
I’m the Coupon Queen. It’s a terrifying, exciting spectacle to behold. And I’m here to say that if you shop regularly at Kroger, and you don’t use coupons, you’re being crazy with your money.
(Why Kroger? Given my current city of residence and based on three-plus years of shopping around at each available area retailer, Kroger is my favorite because of selection, location, and they double coupons up to 50 cents.)
Manufacturers use coupons for promotion of an item and may sometimes work with retailers to slightly increase the price of a product. While consumers still save, manufacturers don’t “lose” as much. And retailers don’t lose anything, as far as money. If you’ll notice on your coupons, there’s a note to the retailer with instructions for sending them back to the manufacturer for reimbursement. (It would be interesting to see statistics for retailers doing the work to get their money back. I bet those coupons are transported in armored cars!)
So how did I get my groceries for almost 60 percent off? Here are my rules:
- Seek out coupons: Sunday newspapers, magazines, coupon Web sites, product Web sites (I’ll list my favorite coupon Web sites below)
- Before you go into the store, pull out the coupons you want to use for only the items you need (saves time in the store AND it helps you stick to your list)
- At the same time, take all your coupons inside the store, just in case there’s a fantastic deal on an item you don’t need, but you kind of want to try and you know you’ll use, and it’s so cheap you have to buy it. Just keep separate stacks. But you rarely dip into this second stack.
- Make time for shopping: I spent 1.5 hours buying 25 items. I realize not everyone has the luxury of such browsing, but if you really want to save money, you’re going to have to find the time.
- In order to really save, you have to purchase items that are on sale AND that you have a coupon for. Example: a few weeks ago, a brand of 12-grain bread was 3 loaves/$5. I just needed one at $1.67/loaf. I had a 50-cent coupon, doubled, and I got my loaf of bread for $0.67. Yummy.
For this recent trip, I used manufacturer’s coupons and my Kroger card, of course. In addition, Kroger was having a promotion within their store: mix and match 10 participating items and get $5 off your entire order (50 cents off each of the 10 items). Oh, and don’t forget, coupons up to 50 cents are doubled.
Let’s break my shopping cart down:
*note: even among remembering coupon values, doing math late at night and deciphering my receipt, the margin of error for the figures below still is pretty minimal.
4 – 24 oz bottles of Propel water (2 black cherry, 2 peach mango)
On sale with Kroger card: .99/bottle
Mix and match promo: .49/bottle
Manufacturer’s coupon: -1.00/4 bottles
Final cost: $0.24/bottle
This is a guest post by Nicole of Nicole’s Nickels, a great coupon blog that I’ve been a fan of for awhile. I interviewed Nicole months ago about how to make money as a mystery shopper. Now she’s back with advice on how to make money doing online surveys.
If you’re looking for ways to earn some extra money each month from the comfort of your own home, online surveys may be just the thing for you! I have been doing surveys for over a year now and earn approximately $100 per month. It’s certainly not enough for me to retire but it is my gas money that I don’t have to worry about!
I love that I can sit in my pjs or while I watch TV and earn money. You can also get product tests from doing surveys where they send you not yet released products to report back about. There are a lot of survey sites out there and I am signed up with over 30. I only blog about the ones I have had no issues with.
Before signing up with your first survey company, get a new separate email address for surveys only (I use gmail). I don’t get any spam in my surveys email account but I do get a lot of survey invites which could clog your inbox. All of the survey companies I blog about are completely free to sign up for. Remember, they are paying YOU for YOUR opinions!
Many surveys are looking for people that fall into certain demographics so you won’t qualify for every survey you do. I qualify for approximately half of all surveys I attempt. Don’t get hung up on why you’re not qualifying, it’s just the way it is.
Each survey company handles payment differently. Some pay in cash while others may pay in merchandise. Read the terms and conditions as you sign up to make sure you understand how you’ll be paid and if there is a minimum amount to be paid. I make an effort to redeem every month so I can maximize my monthly earnings.
Here are 6 survey companies I recommend:
My Survey
HCD Surveys
Ipsos-I-Say
Opinion Outpost
Global Test Market
Toluna USA
To read more about the survey companies I am signed up with, check out the survey page on my blog, Nicole’s Nickels.
