money tips Archives - Page 8 of 16

What my cat taught me about other people’s money

July 18, 2012 by Jana 4 Comments

boots — My cat, Boots. She’s not a fan of pictures.

Once again, where I live is under an extreme heat advisory. Which is totally awesome.

I learned this when I was checking the weather with my daughter (she’s obsessed) and noticed the little red exclamation point next to my ZIP code. I clicked on it and it told me, among other things, that the most humane thing to do for outdoor pets is to bring them inside, into the air conditioning.

No shit.

But what if you have, like I do, an outdoor animal who absolutely refuses to come inside no matter how much coaxing and bribing you do? There’s not much, except try to accommodate the animal in every way possible. Provide shade, water, and something to cool her down (we use ice packs, but I’ve also been told that if you fill an ice cream container with water, freeze it and then put it outside, that works). That’s about it. Well that, and hoping the animal’s instincts will kick in and she’ll also find ways to help herself.

It sucks having an outdoor pet who you can’t help more than she will allow. Just like it sucks having people in your life who you can’t help with their finances, no matter how much you know they’re in distress. But if I’ve learned any lessons taking care of this cat that can apply to those people, it’s these:

Sometimes, they’re just more comfortable in the situation they’re used to. My cat was originally a stray. She spent the first two or so years of her life outside, so regardless of the fact that we allowed her inside, she refused to do it. Because it was new. Just like going from letting your finances run you to you running your finances is new. Getting control of your money is not easy. It takes tons of effort, organization, planning…the list goes on. For someone who’s not used to it, it’s just easier to keep plodding along in financial distress because it’s easier to stay there than working to change their station. There’s also the whole attitude of “well, this is just how it’s always been so this is just how it’ll always be”, which is virtually impossible to change. So you give them options and hope they realize that the uncomfortable option may actually turn out to be the better one in the long run.
New choices are scary. For a cat that’s never lived in a home, being confined to 4 walls and sleeping in a bed is frightening. Toys are strange. Using a litter box is freaky and bizarre. These are all choices that, upon seeing them for the first time, are overwhelming but eventually the animal will learn what to do (unless you’re my cat. Then you just snub them). Just like having choices with your money. As I learned through paying down my debt, when you start to have money that’s free and available and not designated for debt repayment, you get confused and overwhelmed. You don’t know how to handle having choices with your money. Occasionally, you might go on a spending binge or take a really expensive vacation. After awhile, though, you learn how to apply that money properly and secure your finances for the future.
It’s easier just to let them be. In the almost two years I’ve had my cat, I’ve learned that no matter how hard I try, she just wants to live outside. So, I’ve stopped forcing the issue. If that’s where she wants to be, then I let her. I provide for her the best I can, spend time with her when I can but other than that, I let her go about her business. It’s the same for people who are bad with money. I have a friend who is terrible with money. She complains and complains about how she never has enough and how she hates to work but she never does anything to improve her financial situation. I don’t even bother talking to her about it anymore because she doesn’t want help. She doesn’t want things to get better. She just wants to complain. So I let her. Because, just like trying to coax my cat inside, my efforts to help her are absolutely futile. Rather than banging my head against a wall and getting frustrated, I just sit back and let her complain and watch her make poor choice after poor choice. Because honestly? I’m convinced that’s what she really wants.

It’s difficult to sit by and watch people you love and care about suck with money. But, as I have to do with my cat, we have to let them make their own choices and live with the consequences. That doesn’t mean we have to stop supporting them or neglect them; it just means we have to recognize that not everyone wants our help. And when you want to help, that’s the most difficult part of the situation.

How do you handle people you want to help but refuse to accept that assistance?

Find your one inch

July 6, 2012 by Jana 16 Comments

As I’m behind the curve on this whole “I want to be a writer” thing, I have just recently got around to reading Bird by Bird by Anne Lamott. It’s an excellent book and I highly recommend it to anyone who is even contemplating doing any sort of writing (yes, blogging counts, too). Anyway, my favorite part of the book thus far is where she discusses the one inch picture frame.

Let me explain.

In one particular chapter, she describes the neuroses that follow most writers, as well as how overcome we can get with our ideas, leaving us paralyzed and unable to start writing even one small word. To combat this, she keeps a one inch picture frame on her desk. When she gets stuck, she looks at it and thinks about writing just enough to fill the space in that frame. It makes the task less daunting and before she knows it, the words start flowing enough to quiet the crazy talk.

Clearly, I love idea. I love it for its simplicity, its genius, its practicality and its application to so many other areas. Especially money.

Like writing, the thought of getting your finances together is overwhelming. You know there are so many places to start and figuring out which part makes for the best beginning fills you with anxiety, dread, fear and self-doubt. There are even the little voices that tell you things like “why bother? You’ll always live paycheck to paycheck” and “debt is just a part of life”. Not exactly productive thoughts (which, incidentally, is what I experience when I start to write). And these thoughts and feelings do exactly what they intend to– they prevent you from doing anything, and you remain stuck.

Stuck sucks. No one likes to be stuck. It’s a terrible place to be. And being stuck only plays into your fears and anxiety that nothing will ever be different. The next time that happens to you, think of the one inch frame. Think of one thing you can do, just one, that will get you started. If you’re not sure of what you can do to start, here are a few ideas:

Create a budget.
List your debts.
Read a finance blog or newspaper article.
Take out a personal finance book from the library.
Balance your checkbook.
Remove your credit card from your wallet.
Open a savings account.
Transfer money into an existing savings account.
Analyze your paycheck.
Start a spending journal.

Remember, whatever you choose to do doesn’t need to be perfect. It just needs to be done. Because once you get over that hurdle of unsticking yourself, you’ll be surprised at how quickly the rest falls into place.

One more thought: don’t let the negative thoughts consume you. That’s what they want. They want you to become so insecure and negative and feel like a failure that you never get anywhere other than where you are. Don’t let that happen. You can conquer your money, debt, bad habits, writer’s block or whatever else is plaguing you.

How can I be so sure? I’m proof.

Posted with Blogsy

10 tips for keeping summer cooling costs down

June 29, 2012 by Jana 6 Comments

dobie sunglasses — Cool doggie. Okay, not exactly the kind of cool we’re talking about but still…cute, right? Also, I don’t know why it’s sideways. And I can’t fix it.

I don’t know where you live, but where I live, it is hot. Like really hot. Almost unbearably hot. So hot that my child who never naps got so worn out from the heat, she napped for 2 hours (which was nice because I also got a nap. But I digress). It pretty much sucks.

What also sucks is the fact that in the summer, my electric bill goes up. Of course we do everything possible to keep the rates down: programmable thermostats, running appliances at night, using the grill instead of the ov…

I’m sorry. I fell asleep in the middle of my own sentence because it was so boring. We all know this shit. And I just can’t rehash the same information we’ve all been reading for years. You’d hate me and then stop reading and then I’d be sad and lonely. But fortunately, the king of dumpster divers is also a certified energy auditor and has worked in the energy and environmental field pretty much as long as I’ve known him (almost 16 years). Since I run a finance site and my readers like to, on occasion, save money, I talked him into sharing some unconventional or uncommon ways to save money on your electric bill (warning: some of you may know these tips. I commend you for that. Because I? Did not. I mean, why bother? That’s what I have him for).

So here we go. My husband’s Top 10 Unconventional Ways to Keep Your Summer Cooling Costs Affordable (and Other Random Tips):

[Read more…]

Using family meals for financial lessons

June 27, 2012 by Jana 18 Comments

I recently read an article detailing how family dinners are back in vogue. Although study after study shows the benefits of family dinners, for most families on the go, it was difficult to attain. However, more and more, families are starting to once again realize the benefits of sitting down to share a meal together. And by sitting down, I mean gathering around a table, not all sitting in their respective seats in a car or on bleachers.

I think this is a great thing. To me, the reason behind why a family sits down to dinner together several nights a week is irrelevant. The article I read said that more families are eating together as a byproduct of the Recession—unemployment, smaller restaurant budgets, less kids’ activities are all cited as reasons. The intended point is that less money equals more meals at home (not to mention the health benefits, and long term effects on the kids such as better nutrition, better school performance, lower rates of drug use, etc).

But why not use these meals as a learning experience? After all, for most of us, our financial education begins at home. This comes into play particularly if a family is experiencing a reduction in income. Family meals are the perfect time to discuss what’s going on, answer questions the kids might have, as well as provide a lesson in home economics. For instance, during these meals, families can discuss:

The cost of eating at home versus in a restaurant. Let’s say your family is eating hamburgers and French fries, with the whole meal prepared at home with ingredients purchased at the supermarket. Ask the kids how much they think the meal cost to prepare and then ask them how much they think it would have cost at a mid-priced restaurant. Compare the prices. Talk about why it costs less to make the meal at home. Explain why your budget needs the savings. Or, if you’re not on a strict budget but want to reduce your dining out budget, discuss with the kids what the family as a whole can do with the saved money (day at an amusement park or the zoo or a new game or toy, for example).
Having a grocery budget. And how to maximize it. Talk to the kids about why it’s necessary to review what’s in the pantry and freezer before you go to the store. Share why you do (or don’t) use coupons and shop sales. Discuss stockpiling. Explain why you need to have a strict budget and why you can’t just grab whatever you see on the shelves anymore. You can even ask the kids for their input on what items they think they can do without and which ones they can’t. Including them in the process makes it less difficult. Kids can process more than we think they can, and sometimes in our efforts to protect and insulate them we leave them confused. Talking to them about the budget makes them feel included in the process which in turn makes it easier for them to handle the adjustment.
Menu planning. Explain to your kids why you need to plan your meals carefully. Discuss how menu planning impacts the overall grocery budget, and how by menu planning meals and snacks, there might be some extra room in the budget for treats like a half gallon of ice cream or an additional bag of chips. Ask them for their input on what foods they’d like to eat. You can even use this an opportunity to come up with a way for creative menu planning. For instance, each family member is assigned a day of the week to pick that day’s meals. Talk about weekly meal themes (ex., the first week of the month is new foods week or the last week is Mexican food week). Try to make menu planning fun and interesting for your kids. This way, they won’t really notice the change in habits.

These suggestions should be adjusted based on the age of the kids in your home. Older kids might be more resistant and younger kids might not even notice. But that doesn’t mean you should stop trying to include them in the process.

And if the biggest impact you’ve made is creating some family memories, well, that’s okay, too.

Survive Wedding Season Debt Free

June 25, 2012 by Jana 6 Comments

This is a guest post from my friend Suzanne Cramer, social media specialist with Care One Credit and blogger at A Straight Talk On Debt.

I have surpassed the threshold of having multiple friends I grew up with, or went to school with making us all about the same age getting married in what seemed like at the time—all at once. There was a span of about 3 years where I attended or was in fifteen weddings—the expenses killed my finances. I never calculated the actual amount I spent, the shock may have given me a heart attack, but I would venture to guess I spent an average of $750 for the 5 weddings I was in and roughly $200 for those I attended, making the total over $5,000. What I could have done with $5k…

With summer right around the corner, wedding season is upon us. According to The Knot, June, August, September and October are the most popular months for weddings.

So if you have a slew of weddings to attend this summer, proper planning can help you “be there” for your friends and family without going into debt. I’ll be sitting this season out as I don’t have a single wedding to attend.

In the Wedding