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10 Inexpensive Weekend Getaways Anyone Can Take

Myscha Theriault — Thu, 24 May 2012 10:36:08 +0000

With time away from work at a premium and day-to-day expenses on the rise, many people are turning to weekend getaways to let off steam. What can you accomplish in a two to three day adventure, you ask? Here are 10 weekend getaways that offer something for everyone. (See also: Are Groupon Getaways a Good Idea?)

1. Camping

Whether you’re planning on family camping or taking a romantic tent getaway with your significant other, embracing the great outdoors is an affordable way to get out of town. Check out your nearest national or state park for stellar scenery at a suitable price.

2. Foodie Frenzy

For couples who like to dine out, taking a weekend trip to a nearby foodie destination ensures a manageable financial outlay for your favorite menus — since you won’t be dishing out for an entire week, there’ll be more money to splurge on. Norfolk, Virginia, has a great food scene, as well as a number of free museums and walking tours. Park City, Utah, is another example of a foodie town with affordable activities such as hiking trails and mountain views.

3. A Wander Towards Water

Whether you enjoy weekend beach getaways with white sand or need to stick closer to home with a water park or lake resort, incorporating water into your weekend plans is a huge it with the kids. Sand castles, water slides, and lake kayaking are all fun activities to enjoy, demonstrating that you don’t have to be able to afford the Caribbean to have some fun with the family this summer.

4. Fairs and Festivals

If dining destinations don’t seem doable for your budget, consider checking out area fairs and festivals within driving distance. Entry costs are typically nominal if not free, and the food carts — while priced at a level similar to theme parks — are affordable indulgences compared to swanky restaurants. Besides, there’s no law that says you have to eat all of your meals at the fair. You can go there just to enjoy the live music, cultural demonstrations, and skill competitions. Budget for an indulgence or two and cook healthy food at your vacation rental.

5. Seeing Some Shows

For those who enjoy a bit of culture during their weekend getaways, plan your trip to a place where live performances are prevalent. Indie theater, discount Broadway tickets, and even classical presentations in the park can all be affordable, provided you plan ahead with ticket purchases and are controlling your other vacation line items such as accommodations and souvenir shopping.

6. Sporting Events

For the sports crowd, planning a weekend getaway to enjoy a particular event is the ideal summer experience. Some might choose to visit Boston for a baseball game, while those closer to a car-racing venue might choose something along that line. The point is to take advantage of what’s near you for the greatest savings.

7. Hiking

Whether you’ve booked a rustic cabin or will be hauling your own tent on your back, hiking is one of several affordable dates you can incorporate into the weekend getaways you’ll be taking this summer. Scenic vistas, refreshing waterfalls, and babbling brooks abound all across North America, making a hiking vacation doable for nearly everyone.

8. Scenic Drives

Whether you’re exploring California wine country or driving along the Maine coast, scenery is always a draw for family road trips. Which routes near you offer the prettiest auto outing? Pick one with affordable overnight lodging and make a weekend out of it. You can stop to check out attractions like wineries and lakes along the way to break up long stretches of sitting in the car. Don’t forget to pack some healthy road trip snacks.

9. Animal Encounters

Up close and personal wildlife experiences are a hit with any age group. Roughly 45 minutes away from our home, we were able to snorkel with the manatees and stay at a historic plantation near a wildlife sanctuary. Folks in Washington, D.C., can hop over to Shenandoah National Park to spot bears, deer, and more while hiking and enjoying gourmet lodge food as a splurge. The wild mushroom ravioli and blackberry cobbler are faves of mine, but there are other great meal choices as well. Snorkeling to see colorful sea life is a great way to go, as is canoeing in hopes of spotting a moose or two.

10. Wine Touring

Wine tasting is a great way to experience classy dating on a budget and is possible in a variety of locations throughout North America. I’ve sipped ice wine in Nova Scotia and Vermont, but other corners of our continent have lots to offer in terms of wine experiences as well. Virginia has an extensive winery network, as does Northern California. Other scenes of note include southern Arizona and the state of Michigan.

Clearly, there’s more to be done than driving to a hotel and lounging by the pool. These 10 weekend getaways represent a small sampling of the activity roster at your disposal. What are some of your favorite ways to enjoy an out-of-town weekend?

Written by Myscha Theriault and published on Wise Bread. Read more articles from Wise Bread.

12 Tricks to Make Groceries Last Longer

SavvySugar — Thu, 24 May 2012 10:24:13 +0000

Saving on groceries doesn't just stop at the supermarket checkout. Have your dollar go even further by preserving your food and using some tricks to extend the life of your groceries. If you're throwing away food, you're wasting cash, and all the tips you've used to save money at the grocery store will be for naught. By learning how to preserve food, you're helping your wallet and the environment by reducing waste. Read on to find out the best ways to make your groceries last a good while.

RELATED: Items Not to Buy in Bulk

Get an Ethylene Gas Guardian

The E.G.G. or Ethylene Gas Guardian ($25) is a product that will absorb ethylene, which is emitted by most fruits and veggies. Some types of produce that are sensitive to this ripening agent will spoil more quickly when exposed to this gas. A solution is to separate the items (there is a nice list of Ethylene-sensitive foods on Real Simple), and you can also choose to use the E.G.G. and put it in your produce drawer.

Educate Yourself About the Life of Your Grocery Items

Know how long each of your grocery items will last. For those without an expiration date, there is a handy list on Ziploc's website that gives an estimate of how long different types of produce and meats last when refrigerated and frozen.

Don't wait until the food spoils and you end up throwing it away. Keep in mind the life of each item and eat it based on which one perishes the fastest.

Don't Cut Fruits and Veggies Till You Need Them

Keep fruits and veggies whole (until you need them) if you want them to last longer. Don't break off a stem, break it apart, or chop it into pieces if you're not going to eat it. "As soon as you start pulling fruits and vegetables apart, you've broken cells, and microorganisms start to grow," says Barry Swanson, a food scientist at Washington State University.

Put Bread in the Fridge or Freezer

I have friends who immediately put the bread they buy into the fridge, and my mom puts slices of bread into the freezer to make it last longer. If you're not going to finish the bread in a few days, don't leave it out on the counter, or it will start to grow mold. The best method is to leave half of it in the freezer and half of it in the fridge.

Be Smart When Buying Organic

Even if you're a fan of organic foods, you might want to be smart when you're buying organic. For example, think about how long you take to eat a certain kind of food and choose to go organic based on that because organic foods spoil faster. If you find yourself constantly throwing away grocery items like eggs and milk, make a note of which ones and go for the normal kind the next time you're at the supermarket.

Invest in an Herb Savor

The Herb Savor ($30) from Prepara, which was also one of Oprah's Favorite Things, will lengthen the life of your herbs for up to three weeks, according to the website. It's not just a container, this kitchen gadget will keep the roots of your herbs "slightly submerged under water."

Cook Foods That Are About to Perish

If the foods are approaching their expiry date or are starting to lose their luster, cook them before it reaches the point in which you have to throw them away. For example, make a stir-fry out of the old produce or make baked goods from the really ripe fruits such as banana bread out of old bananas. Start digging around the Internet for ideas!

Use Food Containers

Store your leftovers in containers and any fruits and vegetables that you have chopped into pieces. The seals keep the air out which helps the food stay fresh longer.

Consider a Sealer

Get a nifty sealer ($10) to reseal your packaged goods. It'll keep the air from escaping, and it's more convenient than pouring the item into a food container.

Avoid Bagged Veggies and Pre-Cut Fruits

Bagged salads and pre-cut fruits certainly will save you a few minutes since there isn't any preparation time, but they also tend to spoil faster. Reach for whole, fresh produce at the grocery store to ensure that your veggies and fruits will last longer.

Throw Out the Bad Apple

Carefully look at your produce and throw out ones that are rotting because it can cause the surrounding foods to spoil faster as well. Mold spreads really quickly, so be sure to trash anything that has been infected by the fungus.

Make Fresh Produce More Visible in the Fridge

For foods that are perishable, try to make them more visible in your fridge and put them in front of processed food items. This is so you won't forget your fresh produce, and you're more likely to reach for them.

Although it is recommended to keep produce in its respective drawers, you should try this technique if you find that you keep forgetting about the items in the drawers.

It's no use buying tasty, inexpensive food if it goes bad before you eat it. Follow these tips to keep all that grocery goodness fresh.

Guest Post Blurb:

This is a guest contribution from our friends at SavvySugar. Check out more useful articles from this partner:

Written by SavvySugar and published on Wise Bread. Read more articles from Wise Bread.

Best Money Tips: How to Prepare for a Road Trip

Ashley Jacobs — Thu, 24 May 2012 10:00:19 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some fantastic articles on preparing for a road trip, using your credit cards to make and save money, and getting reduced prices on Amazon.

News & Events

Wise Bread Tweetchat (#WBChat) — Don't miss our weekly #WBChat at 12pm PST! We will be giving away prizes!

Be sure to check out our News & Events Calendar to see all the awesome upcoming events in the personal finance world!

Written by Ashley Jacobs and published on Wise Bread. Read more articles from Wise Bread.

Cancel Student Loans to Save — and Receive an Interest-Free 120-Day Loan

Elizabeth Lang — Thu, 24 May 2012 09:48:16 +0000

Student loan debt is all over the news. There are concerns that student loans might be the next "bubble" and finger pointing by Congress, universities, and of course, students. There's a lot of blame to go around, but at the end of the day, you are the one who has to repay the debt. So, what's an easy way to have less debt?

Return money you don't need. In federal loan lingo, it's called "canceling" your loan. (See also: Student Loans: How to Make Post-College Decisions)

Buried deep in the Federal Loan documents, there's a provision that tells you, "before your loan money is disbursed, you may cancel all or part of your loan at any time by notifying your school."

But here's the better deal — "Within 120 days of the date your school disbursed your loan money (by crediting the loan money to your account at the school, by paying it directly to you, or both), you may return all or part of your loan to us."

So Why Would You Want to Return Part of Your Loan?

You want to return (aka cancel) your student loan because then you don't have to pay interest — even back interest that accrued since you took out the loan. Here's the official language:

You do not have to pay interest or the loan fee on the part of your loan that you return within 120 days of the date that part of your loan is disbursed. If you received an up-front interest rebate on your loan, the rebate does not apply to the part of your loan that you return. Your loan will be adjusted to eliminate any interest, loan fee, and rebate amount that applies to the amount of the loan that you return.

Any unsubsidized federal student loan starts accruing interest immediately, so the sooner you can pay back the money the better. And with Grad PLUS loan interest rates at 7.9% and origination fees of 4.0%, every $100 you return is saving you nearly $12 today (and more as the interest compounds). So when you get all interest accrued and fees paid returned to you, you've now got a 120-day interest-free loan.

Why You Would Need to Cancel Part of Your Loan

Now, I would never advocate taking out an interest-free loan for 120 days just for the sake of taking it. Instead, there are two really good reasons to cancel your loan.

1. You Took Out Too Much Money

One of the issues with student loans is that it's hard to figure out how large of a loan you need and easy to take out too much money. At the beginning of the school year when you make your loan elections, you might think you need $5,000 of spending money during the second semester, but by the time the loan gets dispersed in January, you realize you only need $3,000. Instead of blowing the extra $2,000 on clothes or rounds of drinks for your friends, do the responsible thing and cancel this money you don't need.

2. You Get Extra Money or Are Working During School

Many students (especially graduate students) work while going to school. So take part of your earnings for the first few months of each semester and use it return part of your loan money. Or perhaps you got lucky and receive an inheritance or some unexpected birthday cash. Instead of spending it all, cancel your loans and get your interest and fees back.

How to Cancel Your Loan

I've canceled multiple students loans because of earning more by working or taking out too much money in the first place. (One semester, my tuition dropped due to course load adjustments, so I was able to return a large part of a loan.) I've used the following two methods to cancel my loans.

1. Contact Your School's Financial Services Office

The easiest way to cancel your loan is to contact your school's financial services office and ask them to cancel all or part of your loan. If the money has only been disbursed to your student account (and not all the way to your personal checking account), the school can easily take the money back and return it to the government.

2. Contact the Direct Loan Servicing Center

If the loan has already been disbursed to your personal account from your school's student account, you'll most likely need to contact the Federal Direct Loan Servicing Center. My experience has been that they will tell you to send in the money to a payment address or "make a payment" online; then you'll have to follow up and tell them that they money was for a cancellation. I recommend calling them at 1-800-848-0979 and not emailing through myedaccount.com. Always use the term "cancellation" or "cancel." (I have had several experiences with email where the email reply has been that they made the adjustment, but the interest in my account still showed, resulting in me having to follow up multiple times. Calling has always resulted in the cancellation showing the first time.)

This student loan hack only works for federal loans and makes the most sense to use for unsubsidized loans where interest is accruing from day one. But it's a great way to lessen your debt burden after you finish school.

Have you ever canceled a loan within the 120-day period? What hacks have you used to lighten your student loan debt?

Written by Elizabeth Lang and published on Wise Bread. Read more articles from Wise Bread.

Join Our Tweetchat on Thu 5/24, 12pm Pacific for a Chance to Win Prizes

Ashley Jacobs — Wed, 23 May 2012 22:59:13 +0000

Join our Tweetchat this Thursday at 12:00 pm Pacific for lively conversation and a chance to win prizes! Use #WBChat to participate.

This week's topic: DIY. Learn about doing repairs and routine maintenance tasks on your own. Tell us about when you DIY and when you leave tasks to a professional!

For an easy way to keep track of the conversation, try using our special Tweetchat Chatroom.

Anyone can participate, but you must be following @WiseBread and RSVP below to win our prize!

To make it easier for us to keep track of attendees and pick our winners, please RSVP below with your twitter ID (put that in the "Link Title" field), email address, and your twitter URL (put that in the "URL" field, do not put your blog's url in there). Winners will be selected at random from RSVPs. If a winner is chosen who RSVPed but did not attend a 2nd winner will be chosen.

New Parenting Chat Immediately Before #WBChat

Our sister blog Parenting Squad (@ParentingSquad) will be hosting a parenting chat every Thursday at 11:00 am Pacific. Drop by for fun parenting conversations and a chance to win prizes! Use #PSChat to participate.

Written by Ashley Jacobs and published on Wise Bread. Read more articles from Wise Bread.

13 Things to Teach Your Kids About Credit Cards

Elizabeth Lang — Wed, 23 May 2012 10:36:08 +0000

This article is made possible by our underwriter Equifax.

Whether your kids are 5 or 15, you should to start teaching them about credit cards now, before they start being inundated with credit card offers. (Some parents report their 4-year-olds receiving offers in the mail!) It is much better for your children to learn about credit cards from you than to make a mistake when handling their cards and learn the hard way. Below are 13 things to teach your kids about credit cards.

What Young Kids Need to Know About Credit Cards

Depending on the age of your children, they may not be ready for a fully loaded lecture about credit cards. But that doesn’t mean you should ignore the topic completely. Here are three things even young children should be taught about credit cards. I’ve written these as things you can say directly to your children.

Credit Cards Are Not Toys

A credit card is not something that you should play with. While they aren’t fragile like glass, they can be broken if bent. More importantly, because of the size of a credit card, it can be easily lost. If you are playing with mommy’s credit card, you might leave it somewhere she can’t find it. Then she will be very upset and have to look a long time for it. Or she might think it is stolen and have to cancel her card, which will make her even more upset. The best thing to do is to leave mommy’s credit cards in her wallet where she keeps them.

Credit Cards Are Not Magical

When mommy uses her credit card to pay for something, it is just like real money. When you take dollars and coins from your piggy bank to buy a model airplane, you don’t get that money back. You have to trade your dollars and get the airplane in return. When mommy uses her credit card, it is just like she is taking dollars from her piggy bank. [Yes, this is slightly simplified and should be clarified as a child gets older, but it gets the basic point across.]

Credit Cards Are Private

Every person has his or her own credit card. Mommy doesn’t give her credit card to her friend Susan to use. And she is very careful about who she tells her credit card number to—on the phone or on the internet. It is important that you don’t ever tell anyone the numbers on mommy’s card, type the numbers into a form on the internet, or give her card to someone else to use.

What to Teach Your Kids about Credit Cards When They Are Older

If your kids are a little older—certainly by the time they are teenagers—you need to begin educating them about the ins and outs of credit cards. Here are ten more things to tell them.

Understand That Your Credit Limit Is Not a Suggested Target

Don’t spend up to your credit limit. It’s a bad idea for a number of reasons, including the fact that you likely won’t be able to pay it off. And if you can’t pay it off, you’ll spend tons of money on interest. Worse, if you can’t make a payment at all your credit card company can report you to a collections agency or charge you outrageous fees.

Don’t Accept Every Offer You Get

Credit card companies will start sending you offers before you’re 18. Don’t ever fill out one of these offers without talking to me first. When the time is right, we can discuss when you should be able to get and use your own credit card. When you are 18, don’t apply for every card offer you get.

Keep Track of Your Credit Cards

Once you do have a credit card, keep track of it. If you needlessly sign up for multiple cards and then forget about one, it could result in someone stealing your information. If you’ve forgotten about the card altogether, you wouldn’t necessarily know.

Pay Them Off in Full Every Month

It’s best to pay off your credit cards on a monthly basis. Interest adds up quickly.

Watch Your Interest Rate—It Can Change

Credit card companies will get you in the door with too-good-to-be-true low interest rates. These rates don’t last, so read your offers carefully and keep a close eye on your interest rate month-to-month.

Always Read the Fine Print

There’s a lot of it on credit card offers, but it’s essential to be aware of what you’re signing up for. Credit card companies count on you reading the “0% APR!” and skip the fine print about the APR jumping to 28% in 18 months.

Know That Identity Theft Is A Real Problem

The FTC estimates that at least nine million Americans are victims of identity theft each year. If you have a credit card, it’s even easier for identity thieves to steal your identity. Make sure you take steps to protect yourself, including making careful decisions about who you give your credit card number to and getting your credit report at least annually.

Be Careful When and Where You Use Your Cards

Be savvy with your credit cards, especially when you’re shopping online. Only use secure payment sites - these are sites whose addresses start with “https” - and use your best judgment. If a something doesn’t seem right, it probably isn’t.

Get Your Credit Report at Least Annually

You can get a free credit report every year, so take advantage of it. The information in your credit report is used to determine your eligibility for everything from employment and insurance to car loans and credit. Make sure everything is accurate; if it’s not, find out why and dispute the errors. To get your free credit report at the official government sanctioned website visit Annual Credit Report.

You Don’t Need to Have Money In Your Bank Account to Use Your Card—But You Should

Unlike with a debit or charge card, you don’t need to have the money in your account to spend it with a credit card. This means you can spend well beyond your means and still not reach your credit limit. But that doesn’t mean you should. It’s easy to get carried away with credit card spending and rack up a ton of debt without meaning to. Be careful and spend responsibly.

With all of the risks of credit cards, should you still tell your kids to get one? Absolutely. They’ll need credit to get a mortgage, a car loan, or even an apartment. I recommend opening a bank account for your kids when they’re in elementary school, and making decisions about when they get their first card based on the needs and personality of each child.

Written by Elizabeth Lang and published on Wise Bread. Read more articles from Wise Bread.

Cheap Cheese, Please!

Myscha Theriault — Wed, 23 May 2012 10:24:11 +0000

While we may be eating less of it at our house these days, cheese is still a major food staple for many North American families. Not so long ago, it represented roughly 30% of my family's monthly grocery budget. It’s more of a party, accent, or holiday item now, but I still like to save what I can as a matter of principle. Here’s how I get the best cheap cheese for my money. (See also: Quick, Easy, and Festive Cream Cheese Appetizers)

Shopping Strategies

If you’re serious about reducing your bottom line with cheap cheese purchases, then you’ll need a few shopping strategies up your sleeve in order to succeed. Here are a few of my favorites.

Buy the Block

The more any food item has been prepped for your convenience, the more it will cost you. That’s why when I was still buying large amounts of cheese, one of my top bargain picks was the large packages of block mozzarella available at Sam’s Club and similar stores. In fact, I’m still prone to purchasing one of them if I’m having a large gathering. You can cut it up into string cheese snacks, make homemade fried mozzarella stick appetizers, or prepare simple snack kabobs with toothpicks or miniature barbecue skewers.

Also, if you like the idea of doing a food topping bar, you can prepare a few different kinds of pizza sauce, chop up a few toppings, and mix up some homemade pizza dough. Then, just shred a moderate batch of the cheese to finish off the individual pies. You can use this same cheap cheese strategy with other flavors as well, such as cheddar.

Discount Retailers

Discount retail options exist for more than clothing and auto parts. I have several favorite bargains at Save-A-Lot stores for example, including the occasional cheap cheese purchase. They have a number of affordable dairy deals, including several suited for international cuisines. Quesadillas, tacos, party dips, and more can be pulled off by shopping there, and they are certainly not the only discount chain at your disposal. Others include Aldi, local cooperatives, and even Walmart.

Warehouse Stores

Those who have been reading my Wise Bread work from the beginning know that I’m a huge fan of bulk buying in order to save money. If you’re looking for cheap cheese in particular, then this strategy works especially well for you. For example, when shopping at Costco or Sam’s Club, you’ll not only find giant bags of shredded taco cheese and restaurant-sized packs of low fat Swiss for your brown bag lunches, you’ll also find great deals on gourmet cheeses as well. For instance, a pound of Pecorino Romano is nearly half the price I’m able to purchase it for at my local grocery store. Ditto with Brie, feta, and French goat cheese.

Inexpensive Recipes

Now that you’ve got all of that great-tasting, cheap cheese home, what do you do with it? Well, here are a few recipes to get you started.

Quesadillas

These are so easy and simple to make. Not only are they a huge hit if you’re cooking for kids, but grownups tend to like them too, especially if you’ve got a homemade salsa on hand for dipping. What’s more, quesadillas are also a very flexible food since you can stuff them with whatever you want. These simple cowboy quesadillas are great, and a spinach and sundried tomato version works well for brunch or a happy-hour-at-home menu.

Baked Into Breakfast

Melted into a baked dish, cheese makes a hot breakfast even better. There are several inspirational ideas for breakfast casseroles available. My favorites include Bisquick breakfast pies, baked grits, and savory stratas.

Canned Salmon Party Spread

This is a huge hit at parties whenever I make it. It’s one of my favorite ways to use canned salmon, along with affordable cream cheese. The recipe pairs well with club crackers, cucumber slices, and pita crisps. Serve with white wine and a fruit tray for a simple pre-theater event at home.

Fondue

For date night, grown-up gatherings, and family nights alike, fondue is tough to beat in the fun department. This fondue recipe is designed for finicky family palettes and can be served with vegetables, pre-cooked shrimp, and crusty loaves from your collection of homemade bread mixes. Personally, I think fondue works well at any time of year. During the summer, buy your bread instead of making it to avoid heating the house up with the oven. When it’s cold, such as after a day of family sledding, bake up a loaf for extra warmth and a great smell that will have you salivating.

Incorporating cheap cheese doesn’t have to mean a chintzy menu. There are plenty of stylish options at your disposal.

Written by Myscha Theriault and published on Wise Bread. Read more articles from Wise Bread.

Best Money Tips: Improve Your Resume With Travel

Ashley Jacobs — Wed, 23 May 2012 10:00:21 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some awesome articles on improving your resume with travel, avoiding using your emergency fund, and affordable presents for dad.

News & Events

Get Rich Slowly's #moolah Tweetchat — Don't miss Get Rich Slowly's #moolah tweetchat at 4pm PST!

Be sure to check out our News & Events Calendar to see all the awesome upcoming events in the personal finance world!

Written by Ashley Jacobs and published on Wise Bread. Read more articles from Wise Bread.

Healthcare 2.0: Websites to Help You Save on Doctors, Dentists, and More

Mikey Rox — Wed, 23 May 2012 09:48:15 +0000

When I graduated college, there was a period of time that I was without health insurance. Two years, in fact.

During that time, I avoided the doctor at all costs and kept my fingers crossed that I wouldn't have an accident that would require me to visit the hospital. I already had plenty of school loans, and the last thing I needed was a sky-high medical bill that would plunge me further into debt.

Of course, that was nearly 10 years ago (I need a defibrillator — stat! — after writing that), and times have changed. Technology has brought us lots of resources to help manage healthcare bills and expenses. Here are six that I think you should know about. (See also: How to Find Free (or Cheap) Health Resources)

Simplee

Simplee is like Mint for your health costs. You can track health expenses (medical, dental, and pharmacy bills) based on you and/or your family’s history. Simplee breaks it all down in an easy-to-understand dashboard. You can also shop for a health plan based on expenses and doctors.

DentalPlans.com

Many major insurance carriers offer discount plans in addition to traditional dental insurance. You can search, compare, and select from more than 30 discount dental plans at DentalPlans.com. Just type in your ZIP code to find out what plans are available, how much they cost, and what dentists in your area participate.

DRX

Check out your prescriptions at DRX for lower-cost generic equivalents and therapeutic alternatives to save money on your meds. DRX will also show you how much you can save by ordering through the mail or pill splitting, the latter of which can save you a lot of money when you ask the doctor for double the dosage and cut the pills in half when you get home.

EyeBenefits

Members of EyeBenefits search an online database and receive significant discounts on vision care from providers in their area, including routine eye exams, contacts, lenses, and frames. There is a nominal fee associated with membership to EyeBenefits, but you may be able to take care of that with your Flex Spending Account (if you have one) to save you from having to pay for it out of pocket.

eHealthInsurance

At eHealthInsurance you can compare the basics and find an affordable health policy available by type and ZIP code. The site will give you a list of plans by area, monthly premiums, deductibles, and co-pay and co-insurance amounts. You can also check to see if your current doctor is in-network.

Healthcare Blue Book

Find fair prices for surgery, hospital stays, doctor visits, and medical tests, based on the average fee that providers in your area accept as payment from insurers. Healthcare Blue Book also provides money-saving tips for each procedure and a pricing agreement that makes it easier to negotiate with out-of-network providers.

Why should you think about looking into these pocket-protecting healthcare options? For starters, an estimated nine million adults have lost their health insurance in the past two years, according to a 2011 report by the Commonwealth Fund. In addition, an estimated 29 million people have used up all of their savings to pay medical bills. Our healthcare problem in the United States doesn’t discriminate; lack of coverage can happen to anyone at any time. These resources will help you better manage the situation if you’re ever in a financial bind or find yourself unemployed.

Do you have more healthcare resources that will save readers money? Let me know in the comments below.

Written by Mikey Rox and published on Wise Bread. Read more articles from Wise Bread.

Ask the Readers: Are You Planning a Summer Vacation?

Ashley Jacobs — Tue, 22 May 2012 10:36:08 +0000

Summer is right around the corner! The kids will be out of school, the weather will be gorgeous, and people are starting to make travel plans. Summer tends to be one of the best times for families to get out of town and have quality family time. However, some families tend to stay close to home during the summer to avoid breaking the bank.

Are you planning a summer vacation? If yes, where are you headed? Will you make a travel budget? How do you plan to save money on your trip? If you aren't traveling this summer, will you be staycationing?

Tell us if you are planning a summer vacation and we'll enter you in a drawing to win a $20 Amazon Gift Card!

Win 1 of 3 $20 Amazon Gift Cards

We're doing three giveaways — one for random comments, one for random Facebook "Likes", and another one for random tweets.

Mandatory Entry:

Post your answer in the comments below

For extra entries (1 per action):

Go to our Facebook page, "Like" us, and leave a comment on this article telling us you did, or
Tweet your answer. You have to be a follower of our @wisebread account. Include both "@wisebread" and "#WBAsk" in your tweet so we'll see it and count it. Leave a link to your tweet (click the timestamp for the individual URL) in a separate comment.

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Contest ends Monday, May 28th at 11:59 pm Pacific. Winners will be announced after May 28th on the original post. Winners will also be contacted via email.
You can enter all three drawings — once by leaving a comment, once by liking our Facebook update, and once by tweeting.
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Written by Ashley Jacobs and published on Wise Bread. Read more articles from Wise Bread.

Sock It to Me: 15 Uses for Old Socks

Mikey Rox — Tue, 22 May 2012 10:24:12 +0000

As sure as the sun will rise tomorrow, so too will the dryer eat one of your socks. What can you do with the lonely leftover? Of course you can make a puppet — but if you’re not nine years old, these ideas will suit you better. (See also: 15 Ways to Recycle and Reuse Old T-shirts)

1. Make a Potpourri Bundle

Want your undies to have the fresh scent of apples and cinnamon? Stuff an old sock with potpourri, tie up the end with a rubber band, and pop it into the drawer. You can put the potpourri-filled socks wherever you want. For instance, I have very smelly shoes because I rarely wear socks; the potpourri helps make my stinky sneaks a bit more bearable.

2. Wash Your Baby

If you’re all out of clean wash clothes, grab a single sock, slip it on your hand and wash your bundle of joy until he or she is squeaky clean.

3. Dust and Polish Furniture

Forget those expensive Swiffers; you’ve got a whole drawer of makeshift dust rags at your disposal. Spray a bit of furniture polish on the sock, put it on your hand, and dust away.

4. Level a Table

Have a wobbly table? I hate that. To eliminate the shakes, cut off a few small pieces of an old sock and stuff them under the leg until the table is level.

5. Apply Heat to Sore Muscles

When you’ve got a pain in your neck — or any other part of your body — fill a sock with dry beans or rice, and pop it in the microwave for 30 seconds or so to create an instant, no-cost heating pad.

6. Keep Game Pieces Together

It totally annoys me when I’m ready to play a game and set it up just to discover that some of the pieces are missing, rendering the game unplayable. To make sure that happens never again, the next time you pack up the game, put the small pieces in a sock so they all stay together. This is an especially great idea if you have kids.

7. Soothe Skin Irritation

When I was about three years old, I got chicken pox. Just a few of them. When I was 14, I got chicken pox again. A lot of them. It was one of the worst experiences of my life because my family and I were away from home, staying in a hotel, to attend a wedding. To help calm the itching, my mom put oatmeal in a sock and told me to take a bath with it. Afterward, I had to put dry socks on my hands so I didn't scratch myself to death. I also had shingles at age 25 — basically adult chicken pox. My body seems to reaaally love that virus.

8. Create a Pet Toy

For a cat, fill it with catnap and decorate it to look like a mouse. For a dog, take a long sock and stuff the sewn end with a tennis ball, then play tug-of-war with your buddy.

9. Cover an Ice Pack

You shouldn’t apply an ice pack directly to your skin because you could inadvertently get frostbite. Instead, stuff a plastic baggie with ice and pop it in a sock so you can have a buffer between you and the cold.

10. Polish Shoes

You can use all manner of old fabric to polish your shoes, and a sock is no exception. Dip, shine, stroll.

11. Protect Your Valuables When Moving

You wrap large breakable items in bubble wrap or newspaper, but what about those small items? Rather than wasting valuable supplies that you’ll need for other items, put the small stuff in socks to keep them safe in transit.

12. Donate to Pet Charity

What use does your local ASPCA have for old socks? For starters, they can cut them up and make nice, soft beds for lonely, homeless animals. Helping those cuties out will make you feel fuzzy inside, I promise.

13. Slip on Golf Clubs

This isn’t the most attractive way to protect your clubs, but if you’re in a pinch an old sock will do the trick.

14. Avoid Paint Stains on Shoes

This is another thing that really burns my muffin. I always kick myself when I’m painting and I get the paint someplace I don’t want it. To keep the paint off your shoes — although you should be wearing your worst shoes for this anyway – slip an old sock over the shoe so it won’t matter if you make a mistake.

15. Clean Dry Erase and Chalk Boards

I wish I had thought about this in college, because the eraser for my dry erase board disappeared quite often. If that happens to you, just find an old sock to clean the board. You can be sure that nobody will steal the sock. And if they do, you might want to keep an eye on that guy.

Have other cool uses for old socks? Let me know in the comments below.

Written by Mikey Rox and published on Wise Bread. Read more articles from Wise Bread.

3 Life Lessons I've Learned Since Becoming a Parent

Camilla Cheung — Tue, 22 May 2012 10:00:12 +0000

The past few months have been a blur as my husband and I welcomed our first child into our lives. Between 3 a.m. feedings, poopy diapers, walking and rocking the baby, and trying to fit a shower into my day, the parenting learning curve has been a steep one. I’m learning more every day, and in the midst of this dramatic life change, three glaring lessons have stood out to me since I brought my daughter into the world; three life lessons that took becoming a parent for me to learn. (See also: 7 Important Lessons Frugal Parents Teach Their Children)

1. Don’t Judge

I have to confess that before I had a baby, I subconsciously (and let’s admit it, consciously) judged other parents. This included parents frantically trying to calm a screaming baby while shopping, mothers quickly mixing a bottle of formula to give their children while on the run, frustrated parents yelling at their kids, parents who put their kids to sleep in a swing, etc….

I guess the universe had a karmic lesson to teach me — after my baby was born, I had difficulties breastfeeding, and finally, when my baby wasn’t gaining weight, I was forced to supplement with formula. Good gracious, now I was the one feeling judged and guilty when I whipped out a bottle of formula in front of other breastfeeding moms in the nursing lounge at the mall! Additionally, while I had sworn I wouldn’t be one of those moms who bought every swing, bouncer, or toy available, now I found myself desperately spending money on any gadget that promised to let me put my baby down for a few minutes and have a cup of coffee. Lesson learned — don’t judge other people’s parenting choices, or life choices in general. Instead, I’m learning to accept that everyone makes the best choices they can given their unique circumstances.

I’ve found a new level of acceptance and camaraderie with other moms, even if they’re just strangers I meet at the grocery store. We swap stories of staying up late at night, which swing works best for calming a baby, and “crying-it-out” versus “attachment” approaches to sleeping. The best thing is, although we’ve all made different choices, our babies are all doing fine.

2. It's OK to Accept Help

Whoever coined the saying “It takes a village to raise a child” never said a truer word. While I admire superhero moms who seem to manage to take care of their families on their own with nary a helping hand, I accept that I am not one of them. After days without sleeping, I finally accepted offers from family and friends to watch the baby while I napped, or to clean the house while I held the baby. I was grateful to relatives who bought groceries and made dinner, and I stopped feeling bad about asking the in-laws to take the baby for an evening so I could have some time to myself. I realized that although I felt like I was inconveniencing my friends, they were genuinely happy to help, and I finally found the freedom to feel grateful rather than guilty.

In fact, I’m starting to believe that modern American life is not conducive to raising children well. Think about it — in traditional cultures, the entire extended family lives in close proximity, so that grandparents, as well as aunts and uncles, are close participants in the raising of a child. It’s not all on the mom or dad. But in our modern culture, where extended families are separated by large distances, all the responsibility falls on the two parents, one or both of whom are probably working full time. Instead of relying on a network of relatives, parents now have to find community through parenting groups, play dates, lactation workshops, and other modern inventions. There’s probably nothing we can do about the culture, but it’s helpful to realize that we were meant to raise our kids in a community, and that there’s nothing wrong with needing help.

3. Beware of False Guilt

There are so many things that make you feel guilty as a parent, as I’m sure all you seasoned parents can attest. As a first-time mom, I tend to feel guilty about everything. A short list includes giving my baby a pacifier, letting my baby sleep in her swing, bonking my baby’s head on the car seat handle, and more. That’s not to mention the guilt I feel when well-meaning friends ask me what I do all day at home (because I should be working) or when I have to decline doing someone a favor because it will interfere with my daughter’s naptime.

As a natural people-pleaser, there are days when I feel like everything I’m doing is wrong. But I’m slowly starting to learn that I have the right to make mistakes and say no to other people’s requests, and I don’t have to feel bad about it. I’m able to bring a lot more happiness and joy into my family’s life when I’m not guilt-ridden. In fact, I hope that my daughter will learn the same lesson and will eventually grow up to be a joyful, confident person who can learn from her mistakes and stand up for herself without being burdened by false guilt.

Written by Camilla Cheung and published on Wise Bread. Read more articles from Wise Bread.

Best Money Tips: Controversial Moves That Will Save You Money

Ashley Jacobs — Tue, 22 May 2012 09:48:14 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some great articles on controversial moves that will save you money, saving on your grocery bill, and creating a budget.

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Written by Ashley Jacobs and published on Wise Bread. Read more articles from Wise Bread.

City Shopping: Finding Your New Frugal Home

Kentin Waits — Tue, 22 May 2012 09:36:36 +0000

Living frugally means more than paying attention to the small details of our financial lives. Sometimes the broad brushstrokes we make can affect our lifestyles more than anything else. People seldom talk about how the place we choose to live can add to — or detract from — our frugal goals. Besides the obvious factors like job opportunities, proximity to family, and property prices, what are some other things we should consider when exploring cities and deciding where to make a new frugal home? (See also: Live Where It's Cheap)

Cost of Living

Typically, when we think of cost of living, we look at things like the prices of property, food, and education. But some other costs have a way of sneaking up on you.

Property Tax/County Tax

When I moved from Chicago to Portland, Oregon I didn’t realize there was a temporary county tax in place. Though it only lasted a few years, I hadn’t budgeted for it, and it was an unpleasant surprise. Research property tax rates and special taxes imposed by the country that might affect your bottom-line.

Climate/Weather

Harsh winters and brutal summers can add up to high energy bills. Consider how typical weather patterns year-round will affect your budget — especially if you’re moving from a temperate climate to one with bigger seasonal extremes.

Transit Options

Transportation costs can be a budget-buster. Communities without bike lanes, a well-organized mass transit system, or pedestrian-friendly streets mean you’ll be depending on your car almost exclusively. Don’t forget to look at airport options for longer trips too. Is there a regional hub nearby? The size of the airport often dictates what airlines service the area, how often flights leave, and how expensive tickets will be.

Community

A lively and engaged community can be a boon to savers. Strong communities mean neighbors help neighbors and interact with each other through a wide range of social and commercial activities.

Like-Minded Neighbors

Every town is different. Though it might be hard at first, try to get a read on the local vibe. Do neighbors seem to congregate together or go solo? Are there clubs, coffee shops, or organizations where people connect with each other to explore interests or network professionally? A strong community can help frugal folks meet, encourage each other, and exchange ideas.

Resale Environment

Thrift stores, charities, yard sales, and farmers markets help make up the fabric of a local community. Do a bit of exploring and find out if your new town has any thrift stores, encourages yard sales, or hosts farmers markets. All are great venues for finding bargains or making a few bucks on the side.

Entertainment/Activities

Well-designed communities don't forget about play. Opportunities to enjoy nature, explore, meet your neighbors, and be engaged culturally are important parts of a well-rounded frugal life.

Colleges and Universities

The presence of colleges or universities may be the single biggest clue about what frugal resources can be found in a community. Colleges host symposiums, lectures, plays, debates, concerts, and authors from around the world. These cultural events are often free for students and open to the broader community for a nominal fee. Besides these formal events, college campuses bring energy and liveliness to a town that’s hard to match in any other way.

Parks and Natural Attractions

Sure, sometimes it’s great to splurge on a movie. But communities that lack public spaces, parks, hiking trails, or natural attractions make movies the only option. Explore what destinations or activities you can find that are nearby and free.

Choosing a new place to call home is a big decision. How a city or town is designed to support a thrifty lifestyle is just one piece of a much bigger puzzle. But many of the qualities outlined above go far beyond simple frugality; they’re also important parts of rich civic life — and that’s hard to put price on.

Have you made a major move recently? How has your new town helped or hurt your frugal pursuits? Were there any pleasant surprises that ended up saving you some serious cash?

Written by Kentin Waits and published on Wise Bread. Read more articles from Wise Bread.

20 Frugal Ways to Brighten Your Spouse's Day

Mikey Rox — Mon, 21 May 2012 10:36:07 +0000

With everything that my husband and I have going on in our lives, it’s often easy to forget about each other.

I don’t mean that we forget that the other person exists, but it’s not uncommon to get so wrapped up in our work and other responsibilities that we neglect our relationship at times.

I know we’re not alone in this. There are lots of other couples out there in similar situations. The good news is, letting your spouse know that they’re on your mind isn’t hard (and it doesn’t have to cost much either).

To help you show your sweetie that he or she is still the one for you, here are 20 frugal ways to bring a smile to their face today. (See also: 21 Frugal Ways to Reward Yourself Right Now)

1. Write a Love Note

Tell your sweetie how much you love them in a quick note that you put in their lunch, briefcase, or bag. If you prefer the tech route, tweet the love note in 140 characters or less for all your followers to see.

2. Draw a Heart on the Bathroom Mirror

Express yourself when your partner isn’t looking, drawing a heart when the glass is all fogged up from the steam.

3. Take on a Chore

Do something that your partner normally does, like take out the trash, walk the dogs, wash the dishes, or clean the bathroom. I sincerely hope my husband reads this entry.

4. Serve Breakfast in Bed

Who doesn’t like breakfast in bed? Eating in your undies is the best! To make the breakfast even more special, use a heart-shaped cookie cutter to mold pancakes or cut a heart shape out of toast.

5. Give a Massage

Tell your partner take a load off while you rub their back, neck, and shoulders for at least five minutes.

6. Make a Special Playlist

A special playlist doesn’t have the same appeal as a tangible mix tape, but the sentiment is still there. Steal your partner’s iPod and upload a few songs that let him or her how you feel.

7. Stop by the Office for Lunch

Pop into your partner’s office at lunchtime and surprise them with a quick bite to eat at a nearby restaurant.

8. Give a Compliment on a Physical Attribute

Guys are notorious for never noticing that their partner got their hair did. Make up for it by letting your partner know how great they look in a new outfit or that their diet/exercise routine is working well.

9. Wash the Car

Break out the bucket and soap, and make your partner’s car shine.

10. Dedicate a Love Song

Call the radio station that you partner listens to and dedicate a song.

11. Declare Your Love on Facebook

You probably post a lot of nonsense on Facebook. Make at least one status update count by letting all your friends know just how special your man or lady friend is.

12. Make a YouTube Video

Record a video letting your partner know those things about them that make your heart flutter and post it for the world to see.

13. Run a Bubble Bath

Did you partner have a long day at work? Run a bubble bath and set up the tub with a glass of wine and a magazine.

14. Slow Dance in the Living Room

Turn on a slow jam and ask your partner to dance. Yes, right inside your house.

15. Pick Up the Phone to Say "I Love You"

Do you talk on the phone anymore? I don’t. I prefer texting. Which is why sometimes it’s nice — nostalgic even — to pick up the phone and call your lover just to say that you love ’em.

16. Turn Off the TV

Don’t pretend like your TV isn’t on when you’re having adult time. Turn it off so you can give each other the undivided attention you want and need.

17. Plan a Picnic

Make a few sandwiches, grab a blanket and a couple of board games, and head to the park for a relaxing afternoon filled with quality time.

18. Pitch a Tent

You don’t have to go anywhere. Pitch the tent in your backyard so you have the romance of camping but the convenience of home.

19. Cook Your Partner's Favorite Dinner

Make that special meal that makes your partner melt. The key to a person's heart is through their stomach, after all.

20. Leave Your Partner Alone for a Few Hours

I love spending time with my husband, but sometimes I just need a few hours to myself. Give your partner the space they deserve by exiting the house on a Saturday or Sunday so you honey can relax however they want to.

Have even more ways to brighten your partner’s day in a low-cost way? Let me know in the comments below.

Written by Mikey Rox and published on Wise Bread. Read more articles from Wise Bread.

Deal Killers: 5 Phrases to Avoid When Negotiating

Kentin Waits — Mon, 21 May 2012 10:24:07 +0000

To the uninitiated, the process of negotiating can often seem stressful. Sellers get defensive about their prices; buyers hesitate to haggle for a better deal. In this potent of mix of awkwardness, we toss out phrases that don’t do us any favors and offer information that can hurt our chances of coming out ahead. Whether you’re new to negotiating or haggling is old hat, avoiding a few phrases can make all the difference. (See also: Why Women Don't Negotiate)

1. “I Haven’t Done Much Research, but…”

Researching value helps sellers determine a fair asking price. For buyers, research informs the purchasing decision and prevents over-paying. Whatever side of the negotiating table you’re on, operating without information (and worse, confessing it) puts you at an immediate tactical disadvantage and shows that you’re not prepared.

2. “Somewhere Between…”

I’ve always wondered why sellers offer a range of sales prices to a buyer. I have yet to meet a buyer who opts for the higher end of the range (if you know of one, please send him my way). Instead of pricing that used bike “somewhere between $100.00 – $150.00,” just settle on a specific price and go from there. Buyers, take the same advice. Begin your negotiation with a reasonable number and avoid broad and gray areas.

3. “How About…?”

Negotiation is a bit of dance. In it, each person makes an advance and then retreats, offers and counter-offers. I’ve always found it best to form my offers as statements rather than questions. It’s a fine point, but saying “how about $100?” seems to invite a counter-offer more easily than saying “I’ll give you $100.00.” That doesn’t necessarily mean $100.00 is my final offer, but a statement draws a verbal line in the sand better than a question.

4. “Let Me Get Back to You.”

Besides major negotiation deals like salary, homes, and cars, be prepared to seal the deal on-the-spot or walk away if you’re not comfortable. Since negotiating happens in real-time, don’t assume a deal or agreed-upon price-point will be valid tomorrow or the next day. Offering to get back to a seller is typically seen as a de facto “thanks, but no thanks” anyway, and it leaves the door open for other buyers to swoop in and steal the deal.

5. “I Haven’t Got Any Cash on Me Right Now, but…"

Buyers, this might be the worst thing you can say to a seller that you’ve been haggling with for 45 minutes. Unless you’ve just stumbled on a random sale or very recently been pick-pocketed, you should have cash on-hand and be ready to make a deal happen. Resorting to this phrase communicates one of two things to the seller:

I’m mildly interested, but afraid to pull the trigger, or...
I’m chronically cash-poor and will probably never be able to finalize the deal.

In either case, you’ve wasted at least two people’s time.

Some might say it’s just semantics, but when it comes to the art of deal-making, words make all the difference. So the next time you find yourself in friendly game of haggling — whether as buyer or seller — improve your chances of getting a killer deal by avoiding deal-killing language.

Written by Kentin Waits and published on Wise Bread. Read more articles from Wise Bread.

Best Money Tips: How to Save Money on Gas

Ashley Jacobs — Mon, 21 May 2012 10:00:19 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some fantastic articles on how to save money on gas, ways frugal travelers save on trips, and fun on a cheapskate's budget.

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Written by Ashley Jacobs and published on Wise Bread. Read more articles from Wise Bread.

When Avoiding Debt Is the Losing Strategy

Philip Brewer — Mon, 21 May 2012 09:48:17 +0000

I must have written a dozen articles about the dangers of debt, but there are circumstances where taking on debt is the winning move. Here's an analysis.

Borrowing for consumption is almost always bad. (I say "almost" only to allow for cases where you're borrowing for necessities like life-saving medical care.)

Borrowing for investment is another matter altogether. In a growing economy, refusing to use debt to grow can cost you your business.

Here's an example. (See also: Good Debt, Bad Debt)

Debt-Free Growth

Suppose you have $20,000 in capital and want to open a coffee shop. You get a lease on a storefront, buy a machine to make espresso and cappuccino, order supplies, hire a few employees, and open for business.

Let's further suppose that your business is a success. Right from the start you earn enough money to pay your rent, utilities, taxes, suppliers, employees — and have enough left over to support yourself. In fact, let's suppose you're making a little more than that.

Finally, let's suppose that you figure your town can support four, maybe five coffee shops, and that you start putting aside that little surplus you're earning with an eye toward expanding just as soon as you've saved another $20,000.

That's a reasonable-sounding strategy. But it's a losing strategy if you're up against someone who's willing to take on a little more risk.

Debt-Fueled Growth

Suppose there's another guy in town with $20,000 in capital, and that he also thinks there's room for four, maybe five coffee shops. But let's suppose this guy takes his $20,000 and goes to the bank and borrows another $80,000. Then he takes the $100,000 and opens five coffee shops.

If you're both right about the number of coffee shops the town can support, his shops may well be successes right from the start too. Like you, he can pay all his expenses. But whereas you're only taking home a little more than you need to support yourself, he's taking home five times that.

Now, granted, he's going to have to pay interest on his debt. But how much is that going to be? Right now, no more than 7% or 8% — call it $6,000 a year in interest. Even after paying his banker, he's still making a lot more than four times as much as you.

Now, this may all seem okay. I mean, he's making almost five times what you're making, but he's taking on a lot of risk, plus he's working five times as hard as you. You may figure he's earning every penny, and be pretty glad that you're not in his shoes.

Except for one thing — you both figured that there's only room for four or five coffee shops, and now there are six.

You can expect competition to get pretty fierce.

Advantage: The Debt-Fueled Guy

The problem is, the other guy can compete a lot more fiercely than you. You've got a little money to compete with — that surplus you were hoping would let you save up to open another coffee shop. You could spend that money on advertising, or you could cut prices until they ate into your profits by that much. After that, any further fall in your profits cuts directly into your standard of living.

Your competitor can cut his profits by 80% and still have enough support himself.

Your competitor has other advantages as well. He does five times as much business with his suppliers as you, so he may well be able to get bulk discounts that you can't. As a larger business that employs five times as many people, he may get extra consideration from the city council when it comes to regulations that affect the business — rules about putting tables out on the sidewalk or having live music or how the dumpsters are arranged.

The Role of Risk

Now, it's true that the other guy has taken on a lot of risk.

In particular, if you're both wrong, and the town really only has room for two coffee shops, he's probably screwed. He's got five coffee shops, and they're all losing money. Your coffee shop is losing money as well, but you don't have any debt. If you can find some way to bring a little money in — maybe getting a part-time job — you can keep your shop open for a good long while. Your competitor has no hope — he can't get a part-time job, because he's running five stores and has no spare time, plus he's got those interest payments on top of everything else.

But there's always risk in running a small business. Any of a thousand things could go wrong.

If you're a risk minimizer like me, you might be surprised to learn that one thing that could go wrong is that you're not willing to take on a bit of debt, if that's what it takes to get big enough to compete.

Written by Philip Brewer and published on Wise Bread. Read more articles from Wise Bread.

9 Costly Things New Homeowners Don't Prepare For

Paul Michael — Fri, 18 May 2012 10:36:08 +0000

When you’re buying a new home (and that could be a new build or a used home that’s new to you) you are caught up in a whirlwind of things to do, people to see, papers to sign, and plans to make.

Most of all, you’re excited. And rightly so.

Then, moving day comes. Once all the boxes are unloaded, and the furniture is shoved roughly into the right rooms, you grab a coffee and take a breather. And that’s when it dawns on you. This is only just the beginning.

As a new homeowner, there are whole lists of things you need to take care of, and almost all of them cost money. Sometimes, a lot of money.

So, if you’re planning to buy a new home, have just signed the paperwork, or are moving in next week, this list is for you. And if you know someone who's moving in, be a buddy and warn him or her as well.

Note: The figures next to the titles are rough guides based on an average sized U.S. home (2,700 sq. ft.) with a typical yard (1/5th of an acre), but obviously they could be much higher or lower depending on the size of your home, its location, and the condition it’s in.

1. Window Coverings and Treatments – Up to $2,000

“Oh, look at all the windows! It’s so bright, so spacious, the views are lovely!” Well, yes they are. But you don’t want people viewing you at night, or looking in whenever they want, so all those windows need coverings. If it’s a new home, you’re going to be spending hundreds (and probably thousands) of dollars on blinds, curtains, curtain rods, tie backs, valances, and shades (even more if you're not too handy and have to have someone come and fit them for you). If it’s an old home, you may be fine for a year or two, but you’ll need to decide if you want to live with the old owner’s treatments or have your own. To offset the high costs, remember to look for deals on blinds and other window coverings long before you move in.

2. Landscaping and Groundskeeping – Up to $30,000

Walking around new neighborhoods, you see all sorts of beautiful landscapes. And often, on new builds, the landscaping at the front of the house is included in the price. Hurray! Oh, but then there’s the back. And there, almost always, you’re on your own. Depending on the size of the yard and the HOA rules and restrictions, you could be looking at $10,000 - $30,000 worth of landscaping materials and labor. Want a deck or a patio? That’s even more money. And then you may need sprinklers, irrigation, and other services. If you move into an old home, that’s no guarantee of a great yard. Many foreclosed homes may have been left vacant for a long time, and a once attractive yard could be a wreck, if it was even finished in the first place. So, do your homework. See if you can hustle the homebuilder for a finished back yard too, or ask the seller to drop the price to cover landscaping. If it's foreclosed, a short sale, or some other kind of repo, guess what? Yep, you’re on your own. Time to dig into the savings.

3. Major Appliances – Up to $10,000

New home builds usually include a dishwasher, microwave, and stove, with the option of a fridge/freezer, washer, and dryer. They are basic, unless you opt for the upgrades in your contract, but if you do, they could add a chunk to your monthly mortgage payment. If you buy a used home, you may not have any appliances included, especially on a repossession, short sale, or foreclosure. You could always hunt around on Craigslist for used appliances, but they won’t come with a warranty. So figure on spending a nice chunk of change when the time comes to upgrade.

4. HOA Fees – Up to $700 a Month

Many new homes come with a Home Owners Association, and most used homes have HOAs as well. In theory, they’re a sound idea. They are their to keep the neighborhood looking great, and deal with trash collection, playgrounds, community pools, street lighting, common areas, snow removal, and so on. Of course, in practice many people hate the HOA because they extend their reach far beyond what most people consider fair. They can tell you what colors you can and can’t paint your house, what type of blinds and window treatments are allowed, what you can and can’t put in your yard, and the list goes on. Oh, and it costs you. A typical HOA can run $100 a month. Some are just a few hundred a year, while in the higher-end neighborhoods, you may not see much change out of $1,000 every month! Did you see that one coming? Before you buy, make sure you know what the HOA dues are, but remember, they can go up annually and you have little say in the matter.

5. Furniture – Up to $20,000

That’s a very rough estimate. Clearly your particular tastes can range from Ikea to custom-built furniture, but what you need to know is that most homeowners completely underestimate the amount of furniture they’ll need. This is especially true when moving into a bigger home. You may now have two areas for relaxing, a living room and family room. You could also have a den, a library, a nook or study, extra bedrooms, guest rooms, or even a game room. Depending on what you’re moving into, you could have a very empty-looking house that needs to be filled. Get ready to go shopping.

6. Insurance – Up to $2,000 Annually

There are a few different types of insurance you need to have when buying a home. First, you must have homeowners insurance. The average cost of this is around $700 annually, but this again varies by state. If you live in a duplex or other type of connected building, the insurance may be covered in your HOA dues or your monthly escrow. You should also have contents insurance, based on the value of your possessions. You could, of course, skip this payment. But if tragedy does strike, you could lose everything.

7. Property Tax – Up to $10,000

When it comes to property tax, a lot of people get sticker shock a year after they move into a new construction. The reason for this is simple; the taxes are based on the empty lot the home was built on. But a year later, the assessors come around and put a new valuation on the lot, which now has a beautiful home sitting on it. Many people see their initial tax payment double, or even triple, in just one year. You can also face much higher taxes based on the particular school district you live in. And of course, taxes vary greatly by state. The average property taxes paid in New Jersey are almost $8,000, as opposed to $2,000 in Colorado.

8. Utilities – Up to $400 Monthly

Again, if you live in the Playboy mansion that figure will be greater. And in a new one-bedroom apartment, much less. But on average, when moving into a new home, you will see utility bills in the hundreds of dollars. This can be quite a shock, especially if you were formerly in a small apartment or even living with your parents. And what’s worse, depending on when you move in, you could really get a wake-up call. Bills in the summer months can come with higher rates, so you may budget based on the winter bills, only to be unprepared for summer. The best thing you can do to prepare is ask the utility companies for the history of the property, if it’s used. If it’s new, ask neighbors who have already moved in what they’re paying. If you're first on the block…good luck!

9. Repairs and Maintenance – Who Knows!

I saved the worst till last. One of the biggest unknown expenses of owning a home is the repairs and maintenance costs that can hit you out of nowhere. If you were formerly renting, that was all taken care of. Now it’s all on you. If the boiler blows up, you pay. If the roof leaks, you pay. If strong winds blow your fence down, you pay. If vandals put rocks through your windows, you pay.

Basically, you pay. And these bills can be steep. You’ll soon find out that hourly labor costs for plumbers, electricians, and builders are usually a lot more than the hourly wage you get paid. There are standard call-out charges, which you pay before they even look at the problem. It can be a nightmare. You can, of course, buy insurance to cover appliances, boilers, A/C units, and so on, but there are deductibles to pay. And like any insurance, the small print can really bite you.

Are you a new homeowner? Did a situation or expense recently pop up that you were not planning for? Let us know.

This article was made possible by the support and inspiration of Genworth Financial, a S&P 500 insurance company with more than $100 billion in assets. Check out Genworth's website for more information on their mortgage insurance and reverse mortgages products.

Written by Paul Michael and published on Wise Bread. Read more articles from Wise Bread.

19 Frugal Ways to Entertain Teenagers

Julie Rains — Fri, 18 May 2012 10:24:10 +0000

Teens can be a tough audience to entertain. Their free time is precious, especially for those loaded with AP classes, sports and music commitments, work, and extra-curricular obligations. For many, down time is spent looking at screens, interacting with friends via social media and Skype, or both. So coming up with ways to engage them without resorting to digital devices is hard. (See also: Timeless Money Lessons From Teens)

But even the most restless and demanding teens will enjoy these frugal activities.

1. Learn Family Secrets

Your kids have most likely been protected from family information or just were bored or confused by your stories when they were younger. But now that they are teens, they are ready for greater honesty and more grown-up tales. Intrigue them with explanations of how grandma paid for college, why great-grandma got divorced, how family members lived during the Depression, what unpopular stances your parents took on controversial topics, and why a distant cousin ran away from home.

2. Enter a Contest

Teens like working with adolescent companions, being inventive and competitive. A contest that is neither sponsored by the school nor graded by school officials is especially inspiring to this age group. The research, collaboration, and execution of ideas involved in winning a competition are great sources of entertainment for extended periods of time.

For example, my oldest son assembled and entered a team in a church-sponsored dodgeball tournament. He especially wanted to win first place for uniforms and so coordinated concept meetings, shopping trips to Goodwill, and uniform construction sessions. I think he spent more time planning and executing his uniform design than he did filling out college applications. (Epilogue — his team won "best uniform," and he got into the university of his choice.)

Similarly, I envision teenagers happily and eagerly getting together to do science experiments, create engineering marvels, practice for mud runs, etc. in hopes of winning a competition. Not only is contest preparation a frugal activity, but this kind of entertainment could reap financial rewards as well as bragging rights.

3. Get Away From It All

Arrange an outing that you enjoy and invite one of your child's friends. At first, the teen will probably not get excited when you mention hiking in the woods, camping at the lake, or picking berries on a farm. But if a teenage buddy or a colorful friend of the family accompanies you on the trip, then they may actually look forward to such activities.

Many teens who are otherwise sullen and whiny on a family only trip often become polite and even fun people when they are around those who are not mom, dad, and sibling. Friends provide both a distraction from what the teens might consider boring and serve as entertainment through conversation, humorous insights, and funny stories.

4. Go Bargain Shopping

Shopping is entertainment for many people, including teens. But rather than seeing how much your teen can spend, set a budget and let her have fun putting together outfits for nearly nothing while perusing fashion apparel and accessories at discount stores, consignment shops, and thrift shops.

5. Eat Outside

Teenagers will go wherever the food is. Serve a meal outside on your patio or deck to get them out of their element. Take a picnic to a nearby park, careful to find a spot where friends or classmates are unlikely to appear. Linger to spot wildlife (we have squirrels, rabbits, and the occasional deer in our backyard), enjoy the view of a pond at the park, or watch the sunset.

6. Attend a Play

Catch a theater performance at one of the local high schools, colleges, universities, or community centers. Many of these are free or cost $5 or less, though it’s wise to check the ticket prices and suggested arrival times instead of making general assumptions. Plays can be frugal sources of entertainment for teens, especially if their friends are performing or helping stage the performance.

7. Listen to a Concert

Free or low-cost concerts are also often available at area schools and community gathering places. If friends of your teens are performing, they may like to see and hear the concert band, jazz band, orchestra, chorus, or choral groups.

In addition, look for times when professional groups perform at low-cost venues, such as college campuses, street festivals, and community events.

8. Go to a Sporting Event

Go to a ballgame, track or swim meet, or other sporting event at the local high school or college. Most are priced reasonably, and some are free. Athletic competitions are often gathering places for teens, so they can enjoy being a spectator and hanging out with friends.

9. Visit the City

For those who live in the country or suburbs, visiting a large city can be an adventure. Teens may like to do simple things that city dwellers find tedious, like ride the metro, commuter train, or light rail to the city center. They may enjoy just walking around, doing some window shopping, analyzing architecture, and sampling treats sold by street vendors.

10. Visit the Country

If you’re looking to entertain city kids, take them to the country. Many rural areas and small towns offer attractions that teens find entertaining even if they won’t admit to having fun.

Plan ahead to make sure there is something to do. Look for outings to natural attractions like waterfalls and mountain vistas; quaint downtowns with full-service stores, fine art shops, and old-fashioned diners; and interesting historical sites.

11. Ride a Bike

One of my son’s friends recently got a low-priced road bike to ride around town and in the mountains near his home. When students were asked to submit photos to the school newspaper to show what they did over spring break, he was featured smiling broadly with his bike and helmet next to photos showing teenagers in much pricier locales such as the Caribbean, ocean cruises, and amusement parks in Florida.

Take teens on a spin on lightly traveled roads. If you don't want your teen on the road, visit mountain bike trails or multi-use trails.

12. Take Photos or Videos

Another friend of my son’s is an aspiring filmmaker. I’ve seen him recording quirky teen activities (such as the aforementioned dodgeball tournament) and imagine that he spends much of his free time in this pursuit. Likewise, teens with strong visual or storytelling abilities will be entertained by capturing images on camera.

13. Visit a Museum

I know that a lot of teens find anything that might involve learning to be painful. But some museums are so well designed that even boredom-prone teenagers may consider them entertaining. Newer and updated museums with lots of ways to interact (watching video, listening to audio, playing trivia games, touching stuff, etc.) as well as zoos, aquariums, and art galleries can be enjoyable.

14. Tour College Campuses

Many teens will eventually go to college and, though visiting campuses is most prominently featured on the parent’s to-do list, such a trip can be entertaining for adolescents. There are campus tours focusing on academics as well as those highlighting architecture. Plus, there is usually free or inexpensive entertainment, such as plays, concerts, and sporting events along with lectures and campus festivals.

15. Make an Art Project

Creative teens are entertained by participating in artistic endeavors, particularly those not associated with academics or grades. They especially enjoy working with other teens, either on the same project or side by side (just like when they were younger). Challenge them to make art out of trash for a fun project.

16. Go to the Park

Teens can enjoy going to parks without being loiterers or worse. There are lots of fun and frugal activities for teenagers, such as renting canoes and paddleboats, swimming, playing tennis, or strolling in the rose garden.

17. Take a Walk at Night

Add a bit of mystery to an otherwise dull activity — teens will love walking at night. Look at the stars and planets, planning evening outings in sync with astronomy events.

Choose a safe, preferably out-of-the-way place. Be careful, carry a flashlight (or wear a headlamp), and wear reflective gear.

18. Let ‘em Play Pick-Up Ball

Pick-up ball and similar spur-of-the-moment games were a mainstay of my childhood, but my children never wandered miles from home to an open lot to play with neighborhood kids. Such things just didn’t happen because well, kids rarely walk around neighborhoods unattended, and an open space without organized sports is rarely available. By the time they are teens, though, they should be fine playing pick-up basketball games or working out in public areas accompanied by friends.

19. Volunteer

Most of the teens I know are involved in an organization that requires community service. Though many of these hours are spent fulfilling obligations, volunteering can be entertaining, particularly if the teen is pursuing an activity that he really enjoys, working alongside friends, and getting a free meal. My sons, for example, like the country ham biscuits at the church's yard sale and pizza at community recycling days.

Beyond regularly scheduled volunteer activities are even more intriguing and engaging opportunities. For example, one of my sons enjoys hanging out with younger kids in the inner city and their adult teachers in a childcare setting, which syncs (partly) with his career goal of teaching at-risk high school students. A friend’s son loves serving at the animal shelter. Find meaningful volunteer gigs to entertain them while helping others.

By the time they are 13, your children ought to be able to entertain themselves. But, sometimes, they can use a prod toward a healthy, wholesome, and frugal activity.

What do the teens in your life do for cheap entertainment?

Written by Julie Rains and published on Wise Bread. Read more articles from Wise Bread.

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