Financial New Years’ Resolutions
December 19, 2011
What happened to 2011? 2012 is almost here and it’s amazing how time flies. Think back to this time last year, what was going through your mind then? Did you make some financially related new years’ resolutions last year only to see them not be reached? How do you make sure that you reach your goals this year? Remember that most people don’t keep most of their new years’ resolutions every year, so you’re not alone. Financial resolutions can be the toughest ones to keep, so here’s some advice on how to get them done this year.
Simplify Larger Goals
The main key to reaching financial goals is to set them so that it is realistic to think they can be reached. A lot of times thinking about financial issues and goals can be overwhelming. You have the best of intentions but you don’t know where to begin. For example, you might say, “I want to get out of debt this year.” Break that statement down. Ask yourself; is it realistic to be able to totally pay off my debts this year given my current budget? If the answer is no, you might want to set a more realistic goal. Maybe you could say, “I want to reduce my unsecured debts by 25%.” Now that goal becomes much more attainable. And, if you’re able to surpass your goal, you’re going to get a boost by achieving what you thought was realistic.
Specific Is Terrific
If you have a goal in mind, and you don’t have specific actions planned out to meet that goal, you’re already setting yourself up for failure. Try to think of specific actions that you’re going to use to reach your goals. For example, your goal might be to pay off some debt this year, but how are you going to go about doing that? Try to be more specific like saying, “I’m not going to pay any late or overdraft fees this year.” Then you can get a calendar for the fridge to mark your due dates. Be specific not only about the goals themselves, but also in the actions needed to attain those goals. It will help you to be more successful.
Simple and specific goals are much easier to follow and attain than goals that are not. So begin where it’s easy and then start pushing yourself in 2012.
Getting Ready for Winter
December 14, 2011
Did you have a moment of shock after you opened your natural gas bill last month? For those of us who live in cold weather states, the utility bills shoot up pretty quickly when old man winter comes around. With the economy struggling and utility rates rising every year, it’s getting tougher and tougher to make ends meet. But how many sweaters can you put on and still be comfortable? It’s time to consider some winter weatherization measures to keep you warm in the winter without breaking your budget.
Start With Windows
A majority of heat that you will lose this winter will sneak out through your windows. The windows are where most air leakage occurs, forcing warm air out and cold air in. You can use putty or foam to seal any cracks and/or seams around your windows. Old windows will warp with age, especially if they are made of wood. Check the edges to see if there is any warping, and fill in the gaps. The key with filling cracks in is to start low and work your way up your home. Warm air rises, and as warm air rises through your home cold air will seep in from down low first. Use something that smokes (like incense) and place it near low areas in your home. Low location windows, where the sill meets the foundation, and basement storm doors or windows are good places to start. Once you get up higher in your home look for leaks along attic hatches and any areas where utility lines may come out of your home. Filling in these leaky spots will help to keep heat in your home.
Down Below
While you’re down in the basement, there is one simple thing you can do to winterize. Insulate your hot water tank. Remember, either your gas or electric is working 24/7 to keep that giant tank of water hot. By just putting a blanket on your water heater you can reduce the amount of energy it takes to keep it warm. Just turning it down a few degrees can really make a difference also.
So before those high winter utility bills come around do a little bit to help you budget by winterizing first.
Saving on Christmas
December 12, 2011
Buy Christmas decorations right after Christmas
Saving on Christmas Supplies for Next Year
The holidays this year are as busy as they ever were, but you’ve done a good job this year. You finished the shopping, got the food for the big meal, and other than a last minute gift you might actually be getting ready to relax and enjoy yourself. But don’t let your guard down just yet. If you went over budget a bit this holiday you won’t regret it until you get the bill in January. But by then it will be too late to realize some great savings that you can take advantage of right as the holiday season is winding down. By using a couple of these tips and a little planning you can save a ton on your holiday season next year.
Inventory What You Have
While doing your Christmas clean up this year try to save as much as you can. Although a lot of us remember what we got for Christmas last year, you probably don’t remember what color paper was used to wrap it. Reusing old boxes and paper when possible is a simple and easy way to save. Once you figure out what exactly you have leftover, it’s time to hit the stores.
Timely Bargain Shopping
Many of us might not want to go shopping right after our holiday shopping experiences. But if you want the best deals on Christmas décor and supplies, now is the time to act. Stores offer deep discounts on holiday supplies right after Christmas to clear out the shelves. Wrapping paper, bows, and ribbons are just a few of the many items that will be discounted heavily. Some of these supplies can be had for 90% less than they were priced at before Christmas! If you have one good bulk trip you might be able to get enough supplies to last you for several Christmases to come. Just remember that planning is the key. Be sure to make a list of what supplies you need so that you don’t go overboard impulse buying when you see all those low prices.
By using a little planning and timely shopping, you can greatly reduce the cost of Christmas for your family next year.
The Cost of Being Overweight
December 9, 2011
The Good News: just recently, the U.S. was passed by on being the world’s “fattest” nation.
The Bad News: we’re in second.
Is it any wonder that we are, and have been, atop of the worlds fattest nations? Just look outside, down any road and you are bound to find some sort of eatery. Whether it is a fast food chain, or just a local diner, we as Americans are surrounded by food, unhealthy food at that. We all know the affects of eating unhealthy and not exercising, but let’s look at it from your pocket book’s perspective.
In 2009, Americans spent nearly 10% of our annual income on food. Granted, that number is down from previous years, but has remained relatively steady. In the last two years we have also spent about 15% of our annual income on health insurance. Now these numbers alone represent the average American. There are even higher costs for the obese (30%+ Body Mass). In 2010, a study compiled by researchers at George Washington University estimated that the cost of being an obese woman is $4,879/year, and $2,646 for a man. Staggering numbers, and with money I’m sure we would all like to have in our accounts.
Now being overweight does not just affect your budget to that trip to McDonalds, think about the health and life insurance costs, sick days and loss productivity at work, and many more to mention. Not only do overweight people cost themselves money, but they also cost employers too. Reverting back to sick days and loss of productivity, you aren’t just missing a paycheck, but employers are not getting work out of you. To many employers you are an investment, and if they are not getting the full amount of work out of you, you become a bad investment. Being of healthy body and healthy mind, you can change all of that!
In short, our bodies are machines. We have to put the right fuel in them to make them run properly and efficiently. If we don’t maintain our machines, we will certainly be faced with maintenance fees along the line. By being smart about your eating habits and getting regular exercise you will not only extend your life, but also your budget.
Holiday Tipping Guide
December 7, 2011
The holiday season is the time of year for giving. This usually means that most of us try to give people that we see in our daily lives a little extra thanks for everything that they do for us. But how do you let everyone know that you’ve thought of them this year without blowing your holiday budget? Remember that it’s the thought that counts and you can let people know you’re thinking of them without breaking the bank. By using this holiday tipping guide you can make sure everyone knows how much you appreciate them, not spend your whole budget, and not seem insincere while doing it.
Babysitter- This gift deserves at least a night’s pay, but try to avoid cash. A personalized gift card for a store that fits their interests is much more thoughtful.
Full time nanny- At least a week’s pay amount for a gift is appropriate. Just make sure that you buy a designer hand bag and not a diaper bag, you don’t want to make it seem like your gift is giving them more work.
Day care staff- A small cash gift is okay, i.e. less than $20 per staff member. You can personalize your gift by having your child pick out a small token gift to go along with the cash.
Teachers- A small gift is good, or if you and other parents want to chip in for a larger gift that’s okay too. Just be sure to check your school’s policy on what types of gifts teachers are allowed to accept.
Postal Carriers- A small gift works, but don’t give cash! Civil servants (such as postal carriers) are not allowed to receive cash tips. This also includes gift cards. Something to help keep them warm in the winter would be thoughtful.
Hairstylist/Beautician- A gift in the amount of one typical visit is good enough. If you go more often you might want to go for a bit more.
If there are others who you want to buy a gift for, that’s great. Just remember to make a list with people and amounts first so you don’t go over budget this year.
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