Hope everyone had a safe 4th of July weekend. I took a bus road trip and saw quite a few RV dealers in Illinois and Wisconsin and not that many on the road.

For inexpensive overall travel an RV would be a good way for a group to see the country. At a couple of places where we stopped there was parking available for RV and some pretty nice looking ones (from the outside) as well.

Taking an RV for a vacation would work but you must remember that you have to do the cleaning, some one has to drive and in order to save, you also need to do the cooking as well. If  that isn’t something you are interested in, then consider another type of vacation.

For some taking a vacation does not include the same things you have to do at home : cooking, cleaning and driving. Although you can control what you eat when you eat and if you have ever been to a not-so-clean rest stop, you will appreciate knowing about the cleanliness of the facilities.

Seeing the open road seems great but if you are thinking of seeing an urban area for vacation you may not need an RV. An RV vacation is for the open road, wide spaces and less congested areas. Then during the highways in the cities, you see very few RVs.

An RV offers the opportunity to see what you want, but there is still gas, food and the driving to consider. Plus,  you need to find where RV parks or places where you can park your RV are located.

Vacation to me spells hotel, doesn’t include driving and not having to cook.

Ponzi schemes. When things sound too good to be true, they usually are. Even if someone is a friend, check out what they are telling you.

Bernie Madoff received the maximum sentence for his crime. Yet, his incarceration won’t bring back the life savings to those that he bilked out of millions of dollars.

He apologized.

“I live in a tormented state for all the pain and suffering I created,” Madoff said. “I left a legacy of shame. It is something I will live with for the rest of my life. Saying I’m sorry is not enough. I turn to face you. I know it will not help. I’m sorry.”

The Securities Investor Protection Corporation already has over $61 million in claims made by nearly 9,000 Madoff investors. The SIPC will also pay up to $500,000 for eligible claimants who lost money to Madoff.  The SIPC works with a trustee in the even that a brokerage firm fails and owes money to investors.  Hardship cases are also being given priority and their claims are being expedited.

The worst part about this is that with so many people out of work, it is possible that there are more similar illegal schemes like multi-level management and Ponzi schemes just looking for more gullible folks to participate. The unemployed need to be wary of “great opportunities” offered by a company seeking salespeople for their products and require that you bring in more people to sell or asking you to refer friends to a great opportunity.

When something is great or horrible you want to tell your friends. It is when things are mediocre that you say nothing. When you have a great experience anywhere you tell others – a great return of your income or a great chance to make more money. Good or bad, check it out.

Investigate on your own, if something doesn’t seem right even if it legitimate, then don’t go any further with a “job opportunity” or investment.  Investments are not mandatory, they are optional. When you want to work and have been out of work for a while, some work opportunities seem great – this does not mean that they are legitimate. With investments, the best option is not to put all of your money into one type of account. Nothing is certain and sincere is are many way that people have spent their money. For a job opportunity ask how much you have to spend in order to get a position. If you are required to recruit a certain number of people or do something that you are uncomfortable with, leave the opportunity.

We all have those silly things that we do to save money. They may take time, or not be appealing to anyone but ourselves, yet we do them anyway.

Things like reuse a piece of foil that you used to cover a dish while warming or cooking something in the oven. If it’s still clean, why not use it again?

• Saving scraps of soap, material, pieces of paper to reuse.
• Collecting things from a friend to reuse for a project.
• Buying larger quantities or sizes of food than you will actually consume.
• Taking things just because they are free.

None of these are necessarily bad, but if you don’t reuse the items that you are saving or in the case of food (or materials) waste the extra – are you saving money? Buying an item just because it’s cheap or free is wasteful in itself and cheats another person who really wants the item.

For a little money saving humor – check this out!

What is the overall impact of increased savings? Since more people are saving because of uncertainty, even those who are not having financial problems. What does that do to our economy?

Saving is imperative and for decades, Americans did not save enough. Now that the tide has turned and people are saving more there is a battle between the people who save and those who are financially fit but more tightfisted with their cash. Americans are spending less. This of course also includes those who are out of work and not contributing to the economy in tangible ways – other than for food or gas. People who are not nervous about their jobs or incomes are still cautious about their spending.

This is what makes me worry. Saving when you do not necessarily need to or saving more than you need to can make someone into a miser. Then someone who suddenly sees that they aren’t saving for a goal or for a good reason, could snap and then spend recklessly.

“It will likely be a difficult quarter for consumer spending because consumers are still very nervous about their jobs,” said Ryan Sweet, a senior economist at Moody’s Economy.com in West Chester, Pennsylvania. “They’re going to be very cautious in their spending until there’s concrete evidence the recovery has really taken hold.”

The recession is taking hold in other countries as well. Canada’s GDP has fallen by over 5%, retail sales in Hong Kong are down 4%, European governments are rethinking their employment schema in order to have more workers.

There is no easy solution to this problem, but no extreme will make our financial problem improve. Reckless spending created this problem, stockpiling and not spending will not end this problem. A happy medium of spending within reason needs to be reached. Reasonable spending differs for each person, yet spending nothing when you have money to spend is also foolish and deprives yourself of what you may truly need (or want).

Luxury. Now the word has become synonymous in some circles with waste. Luxury does not have to be wasteful. Though since more people are spending more time with friends at home, they are also spending more money on their home. Money Magazine listed several household items that you might want. All of the items cost less than five hundred dollars. Depending on where you live, $500 is a good chunk of change – like almost a mortgage payment or monthly utilities. 

The luxury items that are being showcased are ones that I could really do without – a heated towel rack or  a counter wine chiller. The other suggestions such as a hammock for my yard would be too small for my balcony, ditto for an orchard.

Household improvements that could be made for low or no cost could be selling books or dvds (or other media) that you no longer read or watch. Either way you will have more space in you home. 

Don’t scrimp or buy the cheapest gadgets or items that you know you will use. Any item that you like but will not use, start saving for it and revisit the idea of the purchase. You might just want to pass on by it. If you like cappuccino but drink it only occasionally, then walk on by that stove top cappuccino maker and just treat yourself to one when the mood arises. You will save space in your home and keep some extra cash.

What we consider necessities and luxuries has changed since the economic downturn, The Pew Research Center has indicated that from those surveyed there have been some changes in what people consider a necessity. Luxury and necessity are relative terms depending on who you are and your situation but thinking about a serious purchase before you make it would be a wise decision in any economy.