Post-Holiday Sales you Just Can’t Miss!

Posted by on December 24, 2011 1 comment

Yesterday, I ventured out to Staples to get a keyboard that a friend had gotten me for Christmas and had sent to the store. Thankfully, Staples isn’t on the list of “top places to go” in my town before the holidays. I was there maybe 15 minutes tops. That wasn’t the case for the rest of the plaza that Staples is located in; Kohl’s, Target, Five Below, and Giant (our grocery store) had full parking lots. It took me longer to get in and out of the parking area than I did in the store.

The few days before and after Christmas are hectic. Stores are packed; the days before Christmas involve getting last minute gifts, while the days after are full of returns. Because of this, many retailers take advantage of the moment and put out some amazing sales. Hey, if people are going to be there anyway, why not take the time and get them to buy other stuff while they’re there, right? If you’re brave enough to fight the crowds, there’s a few things that you should go out and look for in the few days after Christmas.

- Holiday items. Many of the holiday decorations that I possess are from post-holiday sales. This isn’t only the case for Christmas; many retailers will greatly discount holiday and/or seasonal items after they occur. The Christmas tree that sites in my living room was only $10; the decorations on it came to a dollar total.

- Electronics. Did you not get the TV that you wanted? Well, check out your local electronics store and see if it’s on sale. Manufacturers of electronics usually put out new products during late January/early February. So, after Christmas is the best time to slash prices and get the old stock out of there.  Also, in the same token, video games usually get reduced by a lot after Christmas, even if they’re ones that came out just in time for the holiday season.

- Vehicles. Like electronics, the new models are brought out toward the end of the year. Clearing a car lot of old models has been difficult in recent years (the most difficult since Cash for Clunkers a few years ago), so end-of-year sales that fall right after the holidays have become popular. If you’re even thinking about getting a new car, after the holidays may be a great time to look.

- Getting fit. Manufacturers and retailers alike take advantage of New Year’s resolution-makers in this regard. Home gym equipment, fitness videos, gym memberships, and even simple things like dieting journals and pedometers can be found for big discounts.

These definitely aren’t the only things that are great to buy after the holidays roll around, but they’re definitely some of the most popular. Also consider looking at jewelry and candy (maybe get ready for Valentine’s Day early?), baby items, and winter clothing (especially coats). There’s probably a ton more that I’m missing, but at least this gives you a starting point. So brave the crowds and look for those great end-of-year deals. Happy Holidays!

4 Tips for a Financially Freeing End of the Year

Posted by on December 16, 2011 1 comment

It’s that time of year again! Holidays really stress everyone out. Today, I’m stressed out. I have friends coming to town, my house is a mess, baking needs to happen (my sister is currently in the kitchen doing some of it). I have a dinner tonight and Tuesday night. I have an event I’m hosting tomorrow. It’s just a really crazy month for so many people.

Why should finances add to your stress? We’re going to share 4 tips that can save your end of year budget from crashing and burning like so many other people deal with every year. Here are a few things that you can do to make your end of year a little less stressful for everyone in your family.

1. Stick to your budget and reevaluate for next year. Stick to it! If you have a budget set, you need to try and get to the finish line. Don’t overspend on gifts and groceries because you’re caught up in the moment. Also, take the month of December to sit back and reevaluate your budget for next year. Were you saving enough? Did any of your bills increase or decrease? Are you struggling financially, and if so, what can you eliminate to make your burden a little lighter? It’s never a bad thing to reevaluate, even if your conclusion is that your budget is fine as-is.

2. Get your stuff together for your taxes. I know, you aren’t required to get your W-2′s until January, but what about everything else? Charitable contribution receipts, medical bills that weren’t covered by medical insurance, home office expenses. If you have everything together, it’ll make the whole process easier when your W-2′s finally do come.

3. Cut expenses for holiday travel. It’s too late to buy tickets super early (my usual tip for travel), but it’s almost to the point where you may get the last-minute discounts, if you can find somewhere that has extra seats. Don’t check a bag if you don’t have to; many airlines have increased the cost of checking bags. Don’t eat on the premises unless you’re stuck for a long time. Gas prices have been going down and it’s starting to get cheaper to drive than fly to some places; calculate that before you go.

4. Be creative. If you’re struggling for cash, be creative in all of your end-of-year endeavors. I write letters to the teenagers I work with because there’s too many to get gifts for. Having a New Year’s Party? Make your own favors, get creative with inexpensive appetizers. Utilize free movies you may have access to via your TV or computer. Or, just stay at your house and play games!

The end of the year should be a fun and exciting time for everyone involved. You shouldn’t be stressing in any way, but hopefully, these tips help you out so that your finances are one less thing to worry about. Have a great weekend!

5 Easy Ways to Increase your Home’s Value

Posted by on December 9, 2011 1 comment

In today’s economy, homeowners have really been getting the short end of the stick. Whether you’ve lost your home due to foreclosure, tried to move and sell your home, or tried to refinance and discovered that your home is worth less than what you owe on it, you’ve probably gotten bitten a couple of times.

Are you looking at the possibility of selling your home soon, or are you considering refinancing sometime soon? If you fit into either one of those categories, then today, we’ve got 5 easy tips that could help you increase your home’s value.

1. Consider building a deck or adding to your current one. My family added a deck to the house that they live in just after moving in (I’ve since moved out). Since then, it’s been used for multiple reasons, anything from just hanging out to hosting parties. So not only are you adding on something that’s especially useful, but you’re potentially adding several thousand dollars worth of value to your home, depending on the size of the deck and what material you use (wood decks give a little less value than composite ones).

2. Remodel your basement. Have you been thinking about making your dingy basement into a finished one? Do it. Many people who are in the market to buy a home are looking for unique traits like finished basements. More people are entertaining in their homes nowadays, so this home improvement (and adding a deck, like mentioned above), can also help you save some money in the long run. It’s always more fun to hang out at home when you have a room specially made for that purpose!

3. Make your yard pretty! Is your yard just some grass and maybe a tree or two? Consider putting in hedges or other decorative foliage. Don’t make it tacky; subtly make changes that make your home and acreage just a little more appealing to the eye when you first come upon it.

4. Energy efficiency is key. This is the buzzword for everyone. Consider replacing your windows, shingles, and insulation if you’re able to. If you can swing it, get energy efficient appliances that will stay with the home after you leave. The less energy it takes to run the home, the more appealing it is to many of today’s potential home buyers.

5. Take a look at your kitchen. Whether you actually eat in there or not, the kitchen is the most-used room in the home. Everyone has to eat, don’t they? Don’t think that this means that you must totally tear up your kitchen and start all over. Is the look modern? Do you have energy efficient appliances (like I mentioned above)?  Do your cabinet doors need to be fixed and/or replaced? Is there plenty of shelf and/or counter space? Do you have a pantry? All of these things should be taken into consideration when evaluating your kitchen.

If you’re not in a rush to sell your home, don’t disregard this advice!   Doing home improvements over a long period of time can be helpful when you finally do decide to sell your home. Have a great week, and we’ll see you here next week!

4 Economic Factors to Keep an Eye on in December

Posted by on December 2, 2011 1 comment

Good afternoon! I hope you’ve had a great week, and we’re glad to see you again here on Money Walks. October was one of the best months the American economy has had in a few years. Then, November happened. The economy started to go on the fritz and we all felt it.

Now, it’s December, and a few of those factors have cooled down a bit. The economy’s on the rise again. Today, we’re going to look at a few economic factors to keep an eye on this month, as they’ve already started to affect the economy (for better or worse) and we’re only two days in!

1. Unemployment. In November, employers added 120,000 new jobs to the market. Because of this huge influx, more people were able to get out of the unemployment pool. The unemployment rate, as of this morning, is 8.6%. This is the lowest that it has been since March 2009. Two and a half years ago. This has already affected the economy positively; as of 12 PM EST, the stock market was up 1%.

2. Europe. The European Union has been the center of attention for many economists as of late. Greece, Ireland, and Portugal have all been walking a fine line and economists have been predicting defaults that could have a catastrophic domino effect on the rest of the EU if it isn’t taken care of quickly. Germany has started to spearhead efforts to qualm the European debt crisis, and with Germany’s leadership and persistence, a solution is more likely to happen. If they continue to go forward with it, it may help to stabilize the economy world wide.

3. Retail Businesses. Retail has struggled more in the past two years than it ever has before; many popular chains have succumbed to bankruptcy due to the poor economy, the most recent of which being Borders Bookstores. November and December are popular months for retail merchants; with Black Friday and Cyber Monday spearheading the beginning of the holiday season, sales are always up a bit. Early estimates say that this Black Friday was more profitable than those that occurred over the last two years.

4. Automobiles. Cash for Clunkers, the government program implemented in 2009 where you could trade in your old car for cash toward a newer, more gas efficient and environmentally friendly model, gave the automotive industry a boost that they needed during that time. Now, there’s no incentives, but it appears that November was a huge month for the automotive industry; sales increased by and average of 13.9%, making it the best month for sales (other than the Cash for Clunkers surge) since September of 2008. What companies should you be watching? Chrysler made out the best by a landslide; their sales increased 45%, followed by Ford (20%), GM (15%) and Toyota (6.7%). These numbers are encouraging, especially because all of them are domestic automakers. These boosts put every domestic automaker in a position to gain market share in the same year; something that hasn’t happened in decades.

So, watching your stocks? You should be watching other economic factors too. Keep an eye on these in December; we may close out this calendar year better than we have in a few years. Have a great week!

9 Fun Money Facts

Posted by on November 25, 2011 No comments

Good evening! I hope that you found a bunch of great deals today, and I hope you continue to through Small Business Saturday and Cyber Monday. If you were like me, you probably spent a lot of cash today, and we’re going to talk about those dollar bills that you placed in people’s hands.

1.  Cows were one of the first forms of money. In 2000 BC the first pieces of money looked like cattle, but the value on those coins where done by the weight of the bronze. Another form of currency was also deer skins… ever wonder why we call a dollar a “buck?” Yep, that’s why.

2.  By law, no one is required to take your money in order for debts, taxes, or dues. They can take other stuff, like your TV. Or your car. But they have to warn you that you’re doing so first. They can’t just come and tow your car away… at least, I hope they can’t.

3.   Three quarters, four dimes, and four pennies is $1.19. This is the largest dollar value that you can put together without being able to make change for a dollar.

4.   In 1916, you could drive to DC and they’d clean your money for you so that you could use it more. Guess what they called it? Laundering. That’s definitely not the definition that we use for that word now…

5. $1 gold coins currently have  American presidents on them. Before that, they had famous American women on them. Even though coins have starred famous American women, the only woman to have ever appeared on paper money was Martha Washington. Her portrait was on the $1 Silver Certificates printed in 1886, 1891, and 1896.

6. Ever wonder why Monopoly money is so small? “Funny money” has to be at least 50% larger or 25% smaller than a normal bill, or it’s considered to be counterfeit.

7. The first paper money printed in the United States was distributed by the Massachusetts Bay Colony in 1690. In 1775, the Continental Congress printed similar bills, called Continentals, that had no true value, only anticipated value. Because of this, the money was frequently counterfeited, and the phrase “not worth a Continental” became popular during this time.

8. The phrase “In God we Trust” was first put on Union coins during the Civil War. It became universal on all coins in 1955. It’s a shame that they’re trying to take it off of coins now, huh?

9.  The Secret Service was created because of money problems. Why? Because, right after the Civil War, a lot of people were broke, and between 1/3 and 1/2 of the money in circulation was counterfeit.

I hope everyone has a great weekend, and we’ll see you here next week!

 

Stopping that Holiday Stress

Posted by on November 17, 2011 No comments

It’s the holidays, and  that means big dinners, family gatherings, gift exchanges, and piles of cookies and other sweet treats. Sadly, for many, it’s also been proven to be the most stressful time of the year. Not only on your emotions, but also on your wallet. Want to prevent some of the strain on both? Check out these tips.

If you’re hosting a meal:

- Set a budget and stick to it. We all like to go all out for the holidays, especially when it comes to our families. But, the economy is still pretty rough. Set a budget; say that you want to spend no more than a certain dollar amount on dinner and stick to it! Coupons and grocery store fliers can help you in making this number a reality.

- Consider hosting a potluck. If you’re hosting the meal, anything goes. If the price may be a little heavy on you, consider asking each of your guests (or, if they’re all different families, set it by family) to bring a side dish or two. Some families have a specific person who always brings dessert, year in and year out. If that will help you from getting stressed and going broke, do it! Everyone else probably appreciates that you’re the one sacrificing a clean house to the holiday festivities.

- Or, just go out to dinner. More and more restaurants are open on Thanksgiving day, to allow for people to eliminate their stress totally and come in for a nice meal prepared by someone else. If your family is willing to change tradition a bit, maybe this is a great option for you.

If you’re buying gifts:

- Consider setting a dollar limit.  Like with making a meal, set a budget for your holiday shopping. My grandmother used to spend $100 per grandchild every year; I have no idea how she afforded that, but she set that number and stuck to it. Whether you set the dollar limit per person or for your overall holiday shopping plans, set that limit and stick to it. 

- Utilize Black Friday and Cyber Monday sales.  The best deals happen on Black Friday and Cyber Monday.  Also, many stores announce their sales way ahead of time; do a search on Google and you will find countless websites that have already done all of the work for you. You simply have to search for the item you seek and see if there’s a sale on it. Also, make sure to stick it out to Cyber Monday; electronics and other big ticket items can be delivered right to your doorstep for significantly less than what you may have spent ahead of time. 

- Organize a gift exchange.  Most of the kids in my family are now adults, and the topic of a Secret Santa-style gift exchange  has come up. No one’s really willing to budge, but, it’s a thought that has come up. Instead of having to buy for everyone, the gift exchange would make it so each of us only had to buy for one person, making each of our Christmas burdens significantly cheaper. If your family is in a similar boat, why don’t you consider doing this too?

So, eliminate the stress of the holidays and enjoy it as you should! Have a great weekend!


3 Ways People Abuse Credit

Posted by on October 20, 2011 1 comment

Credit abuse; it’s not likely to make the papers or end up in a courtroom (even though it can), but it’s a chronic issue in the United States today. The issue is exacerbated by the fact that even our government is billions of dollars in debt and continues to dig itself further into it! Seems like a lot of people abuse what credit they have, and their credit scores are lackluster because of it. Today, we’re going to explore three of the ways that people abuse credit and what we can do about each of them.

  1. They try to live off of it. Please don’t do this, ever! Some people use their credit as a rolling source of income, and it’s not actual money. When this happens, those same people are wasting hundreds of dollars throughout their lifetimes because of extra fees and the insane amounts of interest. It also demolishes your credit score; making heavy use of your available credit and maxing out your credit cards results in a lot of red marks that lower your overall score. Instead of living off of it, why don’t you consider adjusting your budget (which often means adjusting your lifestyle a well) and cutting costs so you don’t feel like you have to live off of your credit?
  2. They try to hide stuff with it. This is one of the saddest things that people do to abuse credit. Many times, instead of using a bank account that a spouse or loved one would have access to, someone will use a credit card that only they have access to in order to hide an addiction or affair. It’s usually a sign that, whatever the situation is, it’s gotten out of control and help is needed in order to get out of it. If this is you, please talk to your loved ones and seek out help before it becomes bigger of a mess than it already is.
  3. They avoid it entirely. You’ve never owed a dime in your life. That’s great, but what if you end up in some situation where you would need to, like in the case of buying a home? Unless you’re going to be saving money and living in an apartment for 20+ years (which, some people do, and that’s okay), you’re going to have to borrow something. Then, they’ll look at your credit score and it really won’t be that great because there’s nothing there. A lot of people avoid it because they’re afraid of abusing it, but avoiding it is just going to make that problem worse in the long run. If this is you, consider getting a credit card with your bank or credit union and utilizing it on occasion, paying it off immediately when you do. This allows you to build a credit history and also helps you be more comfortable with the idea of having credit.

So, don’t abuse or neglect credit. In the long run, it’ll end up destroying you if you don’t change whatever bad credit habit you have now. Have a great weekend!

Tips for Throwing a Frugal and Fun Halloween Bash

Posted by on October 18, 2011 No comments

Whether it’s because your little guys talked you into it, your teenagers need something to do to stay out of trouble, or your friends nominated you as a host, you’re stuck with it, a Halloween party. If you love the holiday or hate it, you’re about to be celebrating it and you don’t want to dump your life’s savings into it. Okay, maybe that’s exaggerating a bit, but here are some tips to help you keep the costs down for some Halloween fun!

For kids:

-        Free ice cream! Well, not free for you, but if you’re looking for party favors, go to your local Wendy’s or McDonald’s and get a few books of their special Halloween coupons. Everyone can get a free Frosty or ice cream cone. These work really well as a part of bags to hand out to trick-or-treaters too.

-        Make your own and take them home party favors. Party favors and an activity wrapped into one? What a novel idea! There are tons of ideas online for inexpensive crafts that you can do with the little guys, and they get to take them home too! For a fun Halloween twist, have it be something that they can throw some candy into as well.

For teenagers:

-        Ghost Tours. Are a couple of your teens’ friends coming over? If your area has a historical flair like mine does, many of the small towns offer inexpensive ghost tours for individuals and/or groups. I’ve never been on one, but I’ve had friends who had and they say they’re a lot of fun.

-        Scary movie night. RedBox and Netflix make a movie night cheap and fun! Get some popcorn (the kernels are a lot cheaper than microwave popcorn, if you have the means to pop it) and soda, curl up on the couch and scream. A lot. You may want to get the other members of your household earplugs for this one.

For adults:

-        Have everyone chip in a bit. Yeah, sometimes it’s awkward to ask for people to bring stuff when you’re hosting a party, but they are invading your house. Okay, maybe you don’t see it that way, because they are your friends. Let me reassure you, if you’re hosting something and say “bring something,” people really won’t mind. They’ll probably be grateful that it’s not their house that’s a mess in the end.

-        Frugal costume party extravaganza! One of the best ideas I’ve ever heard for a fun, cheap party is a costume party where your costume has a price limit. How creative can your friends get with only $10? Most costumes you buy from the store are usually twice that, so it forces your friends to use their imaginations and their creativity in order to make the best costumes. For even more fun, have a contest with prizes that are just as creative and under the same types of restrictions as the costumes!

So, maybe it won’t be so bad, and your bank account won’t suffer from this holiday that is meant to be fun! Have fun planning your fun and frugal Halloween event, and until Thursday, have a great week!

3 Ways to Save Up for (Almost) Anything

Posted by on October 13, 2011 No comments

You want a car. Okay, maybe not. How about a vacation? The beach sounds lovely right now, considering the window that my desk faces has a view that is rain, rain, and more rain. Maybe you want to save for your child’s education. That’s really not a fun thing to think about, but hey, start early, right? Anyway, no matter what you’re saving up for, today we’re going to look at three things you can do to help you out with the process.

  1. Open a special account just for that. Many financial institutions have special accounts that you can open for different purposes. Vacation and Christmas club accounts sometimes accrue a little higher interest and get deposited into an account of your choosing in April or October respectively. You can open a 529 account for your child or a 401k for your retirement. The best part (or maybe the worst) about these? They penalize you for taking out money early. That’s a good thing because you’re less likely to take money out, but if you have an emergency where you really should take money out; it can be a big inconvenience.
  2.  Get a piggy bank or jar. I keep a change jar in my home, but it doesn’t necessarily have any sort of purpose right now. But, other times I’ve used the money from my change jar for charity, to help a buddy out, or to go toward a vacation. I know you’ve seen the funny piggy banks; a family member of mine has one that says “Harley fund.” The intention of those is to be silly, but at the same time, they can help you remember that you’re saving with a purpose. Even if you don’t have a silly piggy bank, use a jar and label it, do something so that you remind yourself not to use what’s inside of it.
  3. Pay ahead. I have some friends who went on a cruise this past summer. Part of saving up for that cruise involved them putting a down payment on it and then making monthly payments until they went on their cruise in July. Sometimes other vacation stuff will allow you to do the same exact thing. If you’re going on a trip or doing something that involves buying multiple things, buy them in intervals. That’s why you should consider planning as far ahead as possible. College usually can work out payment plans with you, not years ahead of time, but during the semester if that will help you out as well.  

Save with purpose. Think ahead when you’re going to make a large purchase such as a home, car, college education, or vacation. Save ahead and then you won’t be as likely to be slammed financially when the time comes to cough up the cash. Have a great weekend, we’ll see you on Tuesday! 

How Do I Save on Bills That I Can’t Just Eliminate?

Posted by on October 11, 2011 No comments

A couple of weeks ago, I wrote about the possibility of eliminating your cable bill. It’s not a radical idea; it’s something that’s become a lot more feasible in past years. But what about those bills you can’t eliminate? What can you do to save on electric, phone, water and everything else that you may not be able to totally get rid of? Today we’re going to look at a few of those and talk about different ways that you may be able to reduce their impact on your budget.

Electric: Now, I’m not going to sit here and tell you the common sense answers, but I do want you to know a couple things you may not have known could save you.

-        Shop around. In some states, like my home state of PA, you’re allowed to find who provides your electric. Your company stays the same, but they have various providers. Shop around, you could save a few cents.

-        Utilize the sun. I don’t turn the lights on when the sun’s out, except in my bathroom because there’s not any windows in there. The sun is there, why waste your precious electricity if there’s natural light? It’s better for you too. It also helps keep your house warm.

-        Prevent latent electricity usage. Electricity is used when items are plugged in, even if they aren’t being used. Unplug things that you don’t use often, or if you’re going away for vacation.

               Water:  I, thankfully, don’t pay for my water, but here are a couple things you can do to lessen your water and sewer bills if you’d wish to.

-        Enviromentally-friendly toilets. If you own your home, the low-flow toilets are a great idea. They use less water when you flush!

-        Fix leaks. Leaks totally kill your water bill. Calling a plumber to fix it is cheaper than letting it linger.

-        Take shorter showers. I grew up with a well. I learned how to take a 10 minute shower. It’s not as hard as it looks.

               Phone: Most homes today don’t have a house phone because so many people have cell phones. But in case you do, I’m sharing some ways to save on both your house phone bill and cell phone bill.

-        Consider a house phone. I use my house phone for a few purposes, and since it’s bundled with my internet, it costs me like $10 a month. This has helped me reduce my cell phone bill, first cause I can use it

-        If you have both a house and cell phone, drop long distance on your house phone. Your cell phone already has a certain amount of anyone, anywhere minutes. Why waste the money on long distance on your house phone?

-        Consider VoIP clients. My best friend and I don’t have the same cell phone provider, so if we can, we chat on Skype instead. Skype’s free if you aren’t using it for actual phone calls, but you can also consider it for phone calls for a small fee.

So, there you have it. Some easy ways for you to reduce necessary monthly bills. Until Thursday, have a great week!