A “Financial Meterorite” Doesn’t Necessarily Mean the End of the World

August 10, 2012

My friends have told me for a long time that I just might be one of the nerdiest, geekiest people they know.  I’m starting to believe that they might just have a point.  I was absolutely fascinated earlier this week (who says fascinated anymore?) when I read a story about a massive meteorite crater that was found in the Canadian Arctic.  Somewhere between 130 million and 350 million years ago (when I was a young man according to my children) a meteorite crashed into Earth and left a crater that is 15 miles wide.  15 MILES!!!!  That thing came falling out of the sky at a ridiculous rate of speed and created a huge dent in the Earth’s surface.  There was also one found earlier this summer that was 62 miles wide and 3 billion years old.  The photos of these craters are absolutely amazing.  When you think about how something falling out of the sky, completely unexpected, can have significant disruption to the Earth’s surface, it reminds me of some of the stories I’ve heard from people about how they’ve rebounded from severe “financial meteorites”. Continue reading “A “Financial Meterorite” Doesn’t Necessarily Mean the End of the World”

The Best Cell Phone Carriers You’ve Probably Never Heard Of

August 09, 2012

A couple of months ago, I wrote a blog post titled “Is Your Cell Phone Contract Becoming Obsolete” about how you can save lots of money each month on your cell phone bill using a prepaid service. Since then, there have been several innovations that have made prepaid carriers even more attractive, especially some of the lesser known ones that you probably haven’t even heard of. If you’re thinking of breaking free from the Big Four contract carriers (Verizon, AT&T, Sprint, and T-Mobile) but aren’t sure which alternative might be best for you, here are some questions to consider: Continue reading “The Best Cell Phone Carriers You’ve Probably Never Heard Of”

How to Eat Fresher, Healthier, and Cheaper

August 08, 2012

It’s common knowledge how good fresh farm produce is compared to what you get in the grocery store, but growing up in New York City, I apparently never had learned it.  For years, I used to pass by a crowded local farmers’ market, usually wondering why people would stop there to buy produce when the grocery store carried more variety and offered one-stop shopping, sometimes at cheaper prices.  Continue reading “How to Eat Fresher, Healthier, and Cheaper”

What Eating the World’s Largest Lollipop Can Teach Us About Spending Money

August 02, 2012

Last week, my fellow Financial Finesse planner Michael Smith wrote a blog post titled “What the World’s Largest Lollipop Has to Do With Our Financial Problems” about how the “bigger is better” mindset can lead us down the path of debt. The problem is that a desire for growth and improvement in all areas of our life, including materially, is arguably ingrained in our culture, if not our very DNA. Don’t we always want to become more fit and healthy, more educated and knowledgeable, more liked and respected, more financially secure and yes, more materially comfortable? Continue reading “What Eating the World’s Largest Lollipop Can Teach Us About Spending Money”

What I Learned About College Savings from Being a Hoarder

July 30, 2012

“Is it better to save part of my annual bonus each year for my son’s college or save monthly?” was the question I fielded from a caller to our financial helpline.  The image of seven cameras in my downstairs closet popped into my mind.  You might ask what a pile of cameras has to do with college funding.  A lot actually – in fact the decision making process behind the pile of cameras may be a major determiner of success in saving and investing for college (or any other goal for that matter).  Continue reading “What I Learned About College Savings from Being a Hoarder”

Ladies: A Fun Way To Save Money on Clothes —a High Tech Wardrobe Capsule

July 23, 2012

Engaging your emotional self (or inner child) when it comes to managing your cash flow will make the difference between making or breaking your budget. We all know rationally what is good for us – like eating an apple instead of a cookie.  We know we “should” reach for the apple but our emotional self wants the cookie and a battle ensues. Continue reading “Ladies: A Fun Way To Save Money on Clothes —a High Tech Wardrobe Capsule”

Show Me the Money — to Pay Down Debt

July 09, 2012

One of the common complaints I hear from people who are trying to get out of debt is they are financially strapped.  “How can I pay down debt when I can barely make ends meet?”  Since the economic downturn in 2008, overtime pay has gone away, salaries were cut and haven’t come back up, and those who lost jobs and found new ones are unfortunately getting paid less.  It’s tough to find extra money to pay off credit cards and other loans but it can be done. Continue reading “Show Me the Money — to Pay Down Debt”

“The Andy Griffith Show” Meets the Kardashians

July 06, 2012

I just heard that an iconic American TV personality has died.  Andy Griffith was one of the most beloved characters of not just a generation, but of a few generations.  After I heard the news, I started scrolling through the channels and watched a few episodes to remember the good old days in Mayberry.  It took me back to a time that was much simpler, when the rules were clearer and business and personal ethics seemed to be in a better place than they are today. We tend to only see the positive when looking backward.  But, in looking back at the way life was portrayed in Mayberry, I noticed something that seems like an even more far away concept.  Continue reading ““The Andy Griffith Show” Meets the Kardashians”

Is the iPad Really Worth It or Just a Waste of Money?

July 05, 2012

I write a lot in this blog about ways to save money and live frugally. However, I do have to admit that I have a weakness for technological gadgets (this is one area where analysis paralysis actually works in my favor by stopping me from buying a lot of things I’m tempted to buy). Yet despite this, I’ve never bought an iPad or one of its many would-be competitors. Frankly, I just don’t get it. Continue reading “Is the iPad Really Worth It or Just a Waste of Money?”

A Unique Way to Find Things to Do This Summer for Under $100

July 02, 2012

Summer is all about the outdoors. With sunlight lasting well into the evening, it certainly extends the weekend.  These long days bring back memories of when I was a kid in the suburbs of Washington D.C., playing in the backyard or going to the community pool with my girlfriends. I also remember all the gnats flying around my face, which I don’t have here in the high desert of Utah.  It seemed like the weekend lasted a lifetime back then.  As adults, most of us don’t have the whole summer off so we want to make the most of our weekends and there are plenty of activities we can do that don’t break the bank.  We have to start locally since flights out of town and gas to get out of town are expensive and we want to stay within our $100 limit. Continue reading “A Unique Way to Find Things to Do This Summer for Under $100”

Painless Ways to Pay off High Interest Debt

June 28, 2012

Are you struggling with credit card debt? If so, you’re not alone. Paying off credit cards and other higher interest debt is one of the most common goals that people try to save for. Unfortunately, having to pay off a large amount of debt with ridiculously high interest rates can make you feel hopeless, especially if your budget is already stretched. But it turns out that you don’t necessarily need to make huge sacrifices to become debt free much sooner than you may have thought was possible. Continue reading “Painless Ways to Pay off High Interest Debt”

The 2nd Biggest Problem With Free Credit Score Websites

June 27, 2012

I’m sure you’re quite familiar with those uber-annoying commercials with that band peddling “free” credit scores. By now, most of us have caught onto the trick behind these offers; they’re only free if you cancel your membership during the trial period. If you don’t cancel, your credit card will be charged a big fat fee – typically $15 to $30 per month. Worse yet, some of these services will charge you for 3 months at once when you forget to cancel… ouch! Continue reading “The 2nd Biggest Problem With Free Credit Score Websites”

What I Learned About Overspending From Grand Funk Railroad

June 25, 2012

The beer commercial “find your beach” is very popular and with reason — a reason that ends up unknowingly costing us money.  The basis of the commercial if you haven’t seen it or one of the many iterations is this: an attractive couple sits with their backs to us in a couple of Adirondack chairs with a low table between them and an ice filled bucket containing cold beers and limes.  They are sitting doing nothing – not a care in the world on a tropical beach in paradise.  We’re told to find “our beach.” Continue reading “What I Learned About Overspending From Grand Funk Railroad”

Boomerang Kids: How to Avoid Getting Financially Whacked When Your Adult Child Returns Home

June 20, 2012

It’s been said that a parent’s greatest gifts to a child are roots and wings. But what happens when a child must return to his roots because he cannot fly? This is the situation faced by many parents today: their adult children are moving back home, unable to find jobs or to afford life on their own. Continue reading “Boomerang Kids: How to Avoid Getting Financially Whacked When Your Adult Child Returns Home”

How to Slash Your Entertainment Budget This Summer to Less Than $100!

June 18, 2012

Entertainment seems to be a universal budget crasher.  My son Brian told me that he tries to stay in his budget but sushi night always puts him over.  He has subsequently switched to the 10 cent wings night at his local barbeque place and bragged to me that he ate something like 35 chicken wings in one sitting. Entertainment, which inevitably involves expensive food, will bust a budget every time. My friends and I went on a hike this past weekend (free!) but afterwards we grabbed lunch with a group of friends so each couple ended up spending something like $35 bucks on lunch and libations.  There goes the benefit of the free entertainment. Continue reading “How to Slash Your Entertainment Budget This Summer to Less Than $100!”

Is Your Cell Phone Contract Becoming Obsolete?

June 14, 2012

Back in January, I wrote a post about ways to save money on your phone bill. One of the things I mentioned was using a much cheaper prepaid cell phone plan instead of a more expensive contract with one of the big 4 carriers: Verizon, AT&T, Sprint, and T-Mobile. A lot of the prepaid plans actually use the same network as one of the big 4 so you’re essentially getting the same coverage for a lower price and with the flexibility of not being tied into a contract. Continue reading “Is Your Cell Phone Contract Becoming Obsolete?”

How to Have a Great Birthday Party for Your Kids — For Less

June 11, 2012

If I could have back even half of what I’ve spent on kids’ birthday parties over the years, I could probably retire today. What brought this on is my youngest son just turned 22 and my husband and I gave him the world’s greatest present for $25 plus shipping.  Our son Rick plays guitar as a hobby and he is known as the family “greenie” as he promotes having a small carbon footprint, recycling, using less, eating locally grown foods, etc.  So we got him a guitar pick punch, which he can use to recycle credit cards, hotel room keys, or just about anything to make guitar picks to use or give as gifts to his musician friends.  He immediately called when the package came (instead of his usual texting) since he wanted to know where the heck we found it and agreed it was the world’s greatest present (for him). Continue reading “How to Have a Great Birthday Party for Your Kids — For Less”

Want to Make Better Financial Choices? Know Thy Future Self

June 07, 2012

In his last two blog posts, my colleague Michael Smith wrote about two young guys in their early 20’s who are earning about the same amount of money but making very different choices about what to do with it. One is living frugally so he can save for emergencies and a down payment on a home and contribute 15% of his income to his 401(k). He is on track to have a home with no mortgage and $1 million in his 401(k) by age 50. Continue reading “Want to Make Better Financial Choices? Know Thy Future Self”

Why Spending Less Can Mean Living More

June 06, 2012

This morning on the radio, I heard an ad for refinancing your home mortgage, targeting us listeners by explaining that the savings that come from a lower interest rate could be used to buy a new car or take a luxury vacation.  But there was nothing about using the savings to actually, well, save!  Ads like this remind me that we live in a society where other people often judge your quality of life based on the amount you spend, while the amount you save is seen as painful deprivation, belittled as “cutting back.”  But if spending less in order to save more is seen as something that limits your life rather than enhances it, something to be suffered rather than celebrated, it’s no wonder that it becomes so difficult for so many people to do. Continue reading “Why Spending Less Can Mean Living More”