Are Blankets the Answer? »

Are blankets the answer to winter’s chilly weather? I saw an ad for a department store encouraging people to buy blankets, comforters and throws instead of turning up the thermostat. It sounds like a good idea but if sitting in your own home relaxing wearing a lap robe or nestled in a blanket makes you think of the 1800s you are not alone. A lot of people would rather turn up the heat than to just put on heavier clothing or put on a wrap. For those people who do not have the option (apartment or condo dwellers who have little control over their heat) wearing extra clothing and weathering are good options.

Before anyone knocking a lap robe or throw – consider the popularity of the Snuggly and other zip up blankets. Extra layers do the job and make it easier to keep warm and save on the heat. The minimum level of heat may not be enough for some people even at night so another option might be an electric blanket.

No one doubts that using a blanket will keep you warm but do you need to look stylish? If you are at home and cold looking good may be the last thing on your mind. The bulkiness of some of the clothing and blankets that keep are warm may be what keeps people from wanting to use blankets in the first place.

Wearing a sweater or sweatshirt with a t-shirt underneath is comfortable while you are sitting around watching television or working on the computer but when you are ready to go to sleep all that extra bulk may make you uncomfortable. Some turn to electric blankets or a lower tech solution the hot water bottle. Both ways will heat up the sheets and keep you warm. Though the hot water bottle will loose its warmth over time and some are afraid of sleeping beneath something attached to an electrical outlet.

Take a cue from dressing for the cold weather when you are dressing your bed… layers. A heavy down comforter (or down alternative) will be warm but might be too warm once the temperatures are in the upper 30s or 40s. A couple of blankets might give you the same amount of warmth or an added layer that will keep you warm above the sheet.

Though blankets can be very costly, many are reasonably priced, but they are less expensive than a comforter.

Modern electric blanks have timers that shut-off automatically after a half an hour to an hour later. If you are just cool when you are sitting and watching television, then you might want to check out an electric throw. The newer blanks are energy efficient and can help keep the chill off. Electric blanket lovers are very loyal and really like them. Layers work just as well and there is nothing frightening about them especially for those who feel that they are being cooked or that they might forget to turn off the blanket.

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Election Turnoff »

There is a lot of wasted paper in my recycling bin. All from candidates who want me to vote for them. I have made up my mind who I want to vote for but the flyers and pamphlets have been coming so often that I have joked to people that I was considering voting for the candidates who sent me the least amount of junk mail. That may seem harsh, but in the same way, think about stores that send a seemingly endless stream of notices of any sort to you about sales and other things. After a while it begins to turn you off.

Voting is an important part of the democratic process, but must paper and ink be wasted to try to persuade me to vote? Not only that but recorded calls urging me to vote are not making me any more likely to want to vote for a particular candidate. The same thing applies to certain foods – things that you already buy or need to buy really won’t make a big difference in your choices. You may need vinegar for a recipe or use it to clean but how often is plain white vinegar advertised?

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Coupon Taunting You? »

Is that coupon taunting you? Yesterday without any trouble I tossed some coupons in the recycling bin because I knew I would never use them. Yet, there are still a couple of coupons that I am holding on to because they haven’t expired yet and I still might use them. The coupons that I am recycling I don’t know anyone who would use the product and don’t know where the product is even sold so the next time I went to the store I could put the coupons on the shelves near the time. That was too much work since I don’t know where to buy the product.

Coupons, like cash or credit cards can burn a hold into you pocket if you are not accustomed to them. Who really wants to pass up a great deal? If the item is free but you won’t use it, then why would you want to use a coupon promising you two of the same item for free with purchase?

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Beware the Attractive Packaging »

There is fruit on sale at a local grocer. I went to stock up on apples, mangoes and other fresh goodies. The first thing I saw when I went into the store was that there was a very attractive display of apples and oranges in peck bags. That was much more than I needed so I opted to buy what I wanted. I did look at the pick apples in the bags which were the only display and noticed that many of the apples beneath the first couple were unattractive – soft, bruised and bordering on overripe.

I found some nice apples and mangoes, but this made me think that people who were in a hurry might just pick up a bag where the fruit looked decent on the top and keep going. Then later they would find that their fruit wasn’t in the best condition when they got home which is a money waster.

Fruit doesn’t have to be perfect or even underripe in order for you to eat it. Eating an apple with a blemish on it won’t kill you but buying the best fruit in the quantities that you need does help you keep tabs on the grocery dollars.

Fruit isn’t the only item that can get you with attractive packaging. There are multipacks of items that are sold in stores to make you think that you really need an extra item or two in a particular fragrance you don’t like. Case in point – gift baskets. Generally unless you put a gift basket together with items that you know a person will like or that you like yourself, make a quick calculation of how much the items cost and then make the purchase. If the items that are prepacked really do not offer a “deal” then pass it up.

Beware the attractive packaging!

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How much did you spend? »

Consumers spent an average of $811 on holiday gifts, significantly more than the $699 they initially planned to spend, according to a Consumer Reports survey expected to be released today. About 4 in 5 consumers bought gifts, and in a good sign for discretionary spending, many shoppers bought for themselves, the poll found.

While this sounds good for retailers, spending more than you intended to spend makes it difficult to stick to a budget for Christmas spending. The article continues to say that many people also used their credit cards for purchases. Spending $112 more on gifts than you anticipated can mean the difference between having money for the electric bill or a few tanks of gas. Still the results of the survey are for an average… This does not mean that everyone went over their budget or even those who went over their budget only spent $811. There still may be people who spent well over their budget but had no financial problems. If a person can afford to spend $811 or $5811 on Christmas gifts without causing problems for their budget it’s not an issue, which is where surveys such as these give the wrong impression. A person’s cost of living makes a difference in how and what they can really afford to spend. A free spender who became newly frugal or at least cut back on spending but with a higher income might see spending less than a thousand dollars a bit low for holiday gifts, especially if they have many gifts to buy.

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Tipping With Coupon »

 

Using a coupon doesn’t make you cheap. Not tipping when you use a coupon does. I am still reaping the benefits of free birthday meals from different places. Just because I used a coupon I still tip on the total amount. Just because I saved money, doesn’t mean that my server did less work.

Last night I had a free stir fry at a chain stir fry restaurant. The waitress was kind and was helpful when I was making my selection of a beverage. I told her I had a coupon and then at the end, she had to have a manager make the adjustment. My bill went from close to $25 to about $7.50. Now a cheapskate would have left a tip on just the drink and left. NO… I left her a tip on the whole thing. She was really happy.

The general rule even when using a coupon is to tip on the amount of the bill before the discount. This also goes if you were given a free drink or appetizer because you had an extra long wait. Still tip.

Tipping is something to consider when going out to eat. You don’t tip at a fast food restaurant but if you want to have a more memorable experience then you would want to remember to keep the tip in mind.

Also, tell your server that you have a coupon when you are ordering so that it will be easier to calculate the bill.

Happy Dining!

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Catharsis »

There is something cathartic about cleaning out your refrigerator and seeing how much money you have wasted on things you thought you were going to eat and yet could never finish.

Yesterday I did a thorough cleaning of my refrigerator in preparation for a party – to make room for things I am making.

I found food that I wasted money on or that should have been thrown away a while ago. When there is less than one serving of anything in a bottle or jar it is time to rise it out and put it with the recyclables.

Generally when most people go shopping they don‘t think about how much they will waste or have left over. They are fulfilling a need. If the larger item is on sale and costs less than the smaller package then sometimes you might try to save money (yes while wasting food) in order to save.

Then there are times when you have tried an item and thought that you might like to and you didn’t – don’t hold on to these extra items, toss them right away. The full refrigerator will make you think that you have lots of food, until you discover that there are containers of things that won’t make a balanced meal.

The refrigerator isn’t the only place in the home where we harbor extra junk. You know the t-shirt that you say you will wear or has some slight sentimental attachments – the one with the holes in it? Get rid of it! These extra items also take up space in your closet making it difficult to find an outfit or store other needed items.

After you’ve cleaned and thrown out the unnecessary items, you will discover more space for items that you already have and there will be no need to buy what you didn’t know you had or buy in excess.

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Harder to get an FHA loan »

“It’s going to be harder to get a government-backed mortgage from now on.

Looking to shore up its weakening finances, the Federal Housing Administration is set to announce stricter standards on Wednesday.

The agency, which insured nearly a third of new mortgages in 2009, will increase the premium it charges for its mortgage insurance and require those with weaker credit scores to come up with larger downpayments.”

The government is finally getting around to a new way of doing things. Generally people who had poorer credit had to pay more or a deposit of some sort for items. When I went to get a cell phone several years ago, I was congratulated by the sales person who said that I was only the second person that he had ever worked with who didn’t have to pay a downpayment of any sort to get a phone.


Lax policies and easy credit allowed a lot of people to purchase things they shouldn’t have, but is this enough? Private Mortgage Insurance is for anyone who doesn’t have twenty percent down which was all but unavoidable as prices skyrocketed, unless you had a property to trade. Not many have saved $50 or $60 thousand and have still have a poor credit score. Paying more or buying less house would be a better solution. Housing prices have decreased so people can afford to buy more house if they are first time buyers.


The catch to the FHA’s announcement is that only those with credit scores lower than 580 would be have to pay a higher downpayment – 10%. The average credit score is in the upper 600s so that point is almost moot. Though by increasing the down payment requirement for more people, even those with better credit and halve the amount of cash that a seller could give the buyer at the closing (potentially decreasing the house’s selling price) more people might be able to afford a reasonably priced home.


Home ownership is still a tenuous situation. When people have had to pay more into a home and have more stake in it, they are more likely to stay, but if you lose only 3 or 4% of a homes value and walk away later because you can’t pay and don’t care about your credit score then that is an issue. For those paying 10 or 20% into a home with more equity, they would be more likely to stay in a home.


The stakes are different now that there is a recession, but even before that, when prices had increased, there were still may financial products offered that allowed people to effectively get money out of a home that they had never lived in. A higher downpayment would not solve all problems but may steer the market in the right direction.

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Donating to Haiti »

 

Before giving money to a charity to help the survivors of the earthquake in Haiti, research your charity on Charity Navigator. This organization gives you lots of information and even some tips on donating to Haiti. (It is also a great resource for locating local charities).

When you are donating be wary of start up groups you have never heard of or email pleas. Phishers may try to take advantage of the situation and get your credit card number when you were just trying to help others in need. Eve if you get an email from a group, type in the URL yourself  before making a donation.

Though supplies are needed, donations of supplies is not the best route to go at this point because items such as water , clothing and food still need to be shipped. By donating to a larger organization that has been in existence for years and has some experience with disaster relief on a large scale.

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Saving to Save or Reallocate? »

When I went to the bank to take a fist full of dollars to the bank in exchange for a savings bond I was chatting with the teller who was looking at me askance since I had so many singles. I told her that I took them out of my wallet whenever I got some, because they didn’t fit in my wallet well. Her response was “ I always though about doing that but I always use my debit card so I never have any cash.”

Hmmmm… I wonder how many people are in the same boat if they use their debit cards more than using cash for everyday purchases. It may make me seem like a Luddite, but by using cash for daily purchases I am able to keep track of what I am spending. I know my limits and when I use a credit card or debit card sometimes I can lose track of purchases.

Back to the bank teller, I told her that by using cash and putting my dollars away that it was basically like free money and an easy way to save.

Saving is one thing but what is the purpose of saving money? Is the goal to reallocate for another purpose or saving money to actually put aside for short term or long term goals? Saving money on a haircut in order to afford that extra coffee isn’t allowing you to get ahead. Though I have never proscribed to the put the money aside that you have saved by using a coupon or by buying on sale theory, it could work for someone. Coupons and sale items makes your money go farther yet spending less on some items and pocketing the extra cash for unnecessary items can lead to unhealthy habits.

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