Hopefully you don’t raid trick or treaters’ bags when you “give” them treats because too cheap to buy candy. If you choose not to give out candy, then make sure that you don’t have any lights on, or even put up a sign that says “no candy” clearly so that kids and their parents know that you have no candy to give them.

When you run out of candy don’t be tempted to give out unwrapped candy, even if it is to kids you know because if it goes in the bag, it will be loose and can get contaminated. Just turn out the lights.

Sounds like an ogre? Unfortunately, I don’t get trick or treaters so I didn’t even bother to buy candy this year.

There is still time to send free e-cards to your friends for Halloween.

Saving for retirement and saving for emergencies are not the same. Since there are many people who are feeling the crunch and want to save money on basics, cutting back on your financial obligation to yourself is not a good thing to do, especially if you are reducing your contributions because of the declining stock market be aware that some companies are cutting their matching contributions for workers so that extra “bonus” money that you put into your 401(k) might not be there anymore.

True the savings rate may be considered by some to be an inadequate measure of how much savings a person has, a retirement account just like a Christmas savings account or a special fund that is going to pay for a specific goal or item, should not be considered the same as regular savings. If you spend the money that is supposed to be for your vacation or your child’s college fund, then you aren’t using the money for its intended purpose. The same is for retirement. So if you seem to be wealthy on paper because of your retirement account but rely heavily on plastic with no other savings in sight, then this could be very problematic if a pressing need arises.

Don’t give up on separate savings. Consider your retirement and goal savings accounts (college, vacation, house down payment, etc.) as separate bills that you have to pay each month. Retirement is a goal with different needs and requirements than saving for Christmas. When saving for Christmas or a short term goal, you aren’t looking for compounding interest to really do that much for you.  Compounding interest and time to let your money grow even in a downward economy will be beneficial when saving for retirement.

Like drawer liners but don’t like the cost?

Use a fabric softener sheet in your drawer which will definitely impart a scent.

Use sachet in your drawers. Sachet can be costly but you could take an old handkerchief, fill it potpourri or inexpensive tea bags, then cinch it up with a ribbon or fold it in half, and sew the open sides.

Spray cologne onto cotton balls and put them in your drawer if you want some scent in your clothes.

Just be careful with this method, because it could stain your clothes, also if you choose to use potpourri that is dyed.

Old scraps of your favorite soap can also provide a light fragrance to a drawer. Make sure the soap is dry and you can put the pieces in a piece of tulle or an old handkerchief.

Scented perfume ads can also be used to give your drawer a nice fragrance. Just make sure that you like the fragrance before you try it. If not, you could always use the perfume ads in your bathroom garbage can to brighten up the smell of your bathroom.

If you actually want to line your drawers, you could use wrapping paper. The wrapping paper may not be scented, but you will have something pretty to line your drawers. For scent just add your own. If you want to line any drawer with an unscented paper, wrapping paper or any other heavy weight unscented paper is the way to go.

A personal bright spot to the economic crisis and strengthening dollar is that I will be sending cash to my friends in Italy for Christmas because this is the most cost effective way for me to send them a gift of the greatest value. 

I have known my friends for years and after a while there are no truly “American” gifts to send them that are not terribly expensive to ship or that aren’t perishable. One friend got married last year and while I was not able to attend the wedding I sent her and her new husband some Euros to spend on what they wanted. They enjoyed the gift. One time I had some left over lira and sent them to my friend for her birthday. Instead of spending $20 to send a mediocre gift (remember shipping constraints), I sent the cash in a card. Rather than spending $35-40 on a gift, plus shipping, I could send the equivalent amount in currency. Even with the transaction fees and if I choose to have the card insured, for an additional dollar or so, the gift is worth more. I could send $50 in Euros or in a money order and everyone is happy.

Additionally, another bright side to this is that I do not have to worry about sizes and can stick to a set budget. That is the benefit of buying a gift card or giving someone cash locally as well. There are no taxes or shipping costs to ruin your budget. While it is nice to receive a package from someone with a treat inside it is also nice to know that the sender didn’t blow his/her budget by sending a heavy inexpensive gift.

Has the financial crisis changed how you use and perceive money?

We’ve seen this movie before, and it’s not a happy one. Japan’s financial sector imploded in the 1990s as bubbles in real estate and stock prices (sound familiar?) burst. Eventually, Japan’s central bank drove interest rates to near zero to stimulate the economy. But it was, as the economists say, “pushing on a string.” Banks were reluctant to lend because they needed to hoard capital to repair their balance sheets — just as they need to do now in the U.S. Economic growth slowed, and demand for the credit that was available diminished. The result was Japan’s infamous Lost Decade: 10 years of low or no growth. 

I have always had an interesting relationship with money. I always thought that it was important to save. This was basically because of how my family used money. No one had a lot of debt and just because you were offered a lot of credit whether for a loan or credit limit on a credit card, if you couldn’t pay for it… then you didn’t buy it. Paying for an item didn’t mean you paid right then but would making the payment on a new item force you into hardship and dissuade you from doing things that you liked or wanted to do? If so, then you really couldn’t afford it.

Since people are moving to cash because they can’t afford to use credit like they used to, then it is difficult to justify spurious purchases. Even though gas has dropped, getting a loan from any source is difficult. Debt was a way of life for many Americans and now that lifestyle has taken a hit the economy is in turmoil.

Like many other people, I have spent less and have looked for great deals and try to avoid looking at my 401(k) and mutual fund statements. My online bank has decreased the interest rate three times in the past year. My mortgage is locked in at a fixed rate and I went with a 20-year mortgage instead of a 15-year even though I’m paying off extra so I will pay it off in about 15 years. Just in case I wanted to jet off to Italy, or needed extra money for something, I would have some extra leeway in my budget. 

Many people are probably in the same boat, spending less unless they have to and hoping there is no drastic increase in any area that would throw their budget into chaos. Just in case, the wallet stays closed and opening it has to be absolutely necessary. Fewer trips to restaurants, fewer purchases at the mall and going out only when necessary have changed the financial landscape of our nation.