Frugal Tip 15: Generic Can Save You Money

Recently I started posting a more in depth look at each of the frugal tips. Over the next few weeks I will publish the frugal tips that I have collected. Please note that not every tip will work for everyone. Chose as many of the tips that will work with you and your family and start implementing them. Today we will proceed with Tip #15 Buy generic (store brands) over name-brand.

Walk down the aisles and look at the prices. One thing you will notice is that the generic and store brand products can save you a lot of money over name-brand products. This topic is one of the most talked about topics in the personal finance world. However, it is still one of the areas that a lot of people waste their money.

On Jul 13th (my birthday) last year, Aaron Crowe of Wallet Pop wrote a piece titled 10 products to always buy generic.

The generic labels may not be as fancy as the brand-name products, and the taste of generic items, such as soda, may not appeal to you depending on your tastebuds, but it's worth trying generic brands to see if you like them. The savings can add up over a lifetime, as a savings calculator can quickly show you. And if the savings isn't enough, or the brand name is much better than the generic, you can always go back to the branded product. You can even buy popular brands from the past.
- Wallet Pop

So what is Aaron's top 10?

Over-the-counter medications

That should be a given, and that is probably why Aaron put it in the number one spot.

Cereal

When it comes to taste. The taste is exactly the same. The difference is the price. When I lived in Kansas, there was a much bigger disparity between the store brands and the name brands in the cereal aisle. Here in Texas, the store brands are still cheaper then the name brands but are about twice what I paid in Kansas for the store brand cereal. Especially the bagged cereal. For example, in Kansas I paid $1.99 for a bag of Always Save cereal. Here in Texas I pay $3.50 for a bag of Hill Country cereal. The boxes of store brands of cereal are about the same in both regions.

Pantry staples

When it comes to flour, sugar and such don't waste your money on name brands. Buy the store brands instead. They are the exact same product, just in a different label.

Soda

In some ways I disagree with Aaron on this one. Like him I can tell the difference between Coke and Pepsi in a blind taste test. When it comes to cola, I haven't found many store brands that I can tolerate. I love my Coca-cola, and no other cola can substitute that for me. Other flavors though, I can easily drink the store brands. So, I will give the same advice Aaron gives, taste them and see if you like the taste. You may just find a cheaper alternative that will be easier on your wallet.

Gasoline

You don't need to go to a name brand gas station to get your gas. Instead fill up at the most economical station. Even if it isn't a brand name. In my area I have 3 Chevrons with in 2 miles of me. Two are currently selling gas at $2.92 while the other one is selling it at $2.89. The same can be said about the shell stations in my area. For me I would have to drive several miles before I found an no brand station and the would still be paying the same price as one of the closer stations.

Electronic cables

If you're going to spend $1,500 on a new TV, why not $100 or so on HDMI and other cables to connect it? At least that's what you hear from the salesman. Because $9 cables will make the same connection and work just as well, Gurwin said. People are afraid they'll screw their TV up if they don't buy the highest-priced connecting cables, and sales people pounce on that fear. The copper conductors on the expensive cables are claimed by the manufacturer to give a better signal transfer, but in reality any cable will work just as well, Gurwin said.
- Wallet Pop

Makeup and other beauty products

Batteries

Salad mix and produce
Corn is corn. Lettuce is lettuce. Bananas is Bananas. No mater what the label is on these produce items they are the same. So why pay more for a name brand?As you see

Baby formula

Buying generic can save thousands over your lifetime.

Save just $5 a day, or $150 a month, for 30 years — earn 10 percent on it — and you'll end up with a nest egg of $342,000. Would that make a difference in your life? (By the way, if you're wondering how the heck you can make 10% on your savings, you can't — at least without risk. It is possible, however: see my stock portfolio.)
- Yahoo Finance

Think about that. Could you use an extra $342,000? I know I sure could. In yahoo's top 7 list, I found 3 items of interest. Those three I will list below:

3. Milk

I'm sure there are connoisseurs of moo-juice that could distinguish name-brand milk from store-brand — but I'm not quite sure how they'd do it. Bouquet? Finish? Sounds like a bunch of bull to me.

Name-Brand Milk: $5.45
Store-Brand Milk: $3.39
Difference: $2.06 (60 percent)

4. Margarine

It's already a substitute for butter. Is it really going to negatively impact your quality of life to substitute the substitute?

Name-Brand Margarine: $1.79
Store-Brand Margarine: $1.19
Difference: $.60 (50%)

5. Bleach

You're taking a cup of chlorine and adding it to gallons of water in your washing machine. How could any TV commercial possibly convince you that a brand name will make your clothes come out better?

Name-Brand Bleach: $2.25
Store-Brand Bleach: $1.67
Difference: $.58 (35 percent)
- Yahoo Finance

So, now what's your excuse? Why aren't you using the store brands?

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Thank You Wonga Forum

I would like to thank a great finance forum for becoming a sponsor of the blog through our fiverr gig. A great place to discuss finance with others interested in the same topic.


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Frugal Tip: Avoid Vending Machines

Recently I started posting a more in depth look at each of the frugal tips. Over the next few weeks I will publish the frugal tips that I have collected. Please note that not every tip will work for everyone. Chose as many of the tips that will work with you and your family and start implementing them. Today we will proceed with Tip #14 Refrain  from buying things in vending machines.

Listen, I understand vending machines can be convenient. They keep your soda pop or water cold until you purchase it. However, they are a waste of money. The snacks are horrible for your health (as is the pop, truth be known). But, my point is not focused on the health aspects. I am solely focused on the costs. You can purchase a case of pop at the grocery store (I wait for the sales) and take your lunch (and pop) to work with you. If you want a snack for your break, then take that along with you to. Stop wasting money with those overpriced vending machines.

Think about it. Where do the owners of those vending machines get the pop or products to put in them? They buy the products at the store and then fill their machines. Marking them up to make money for themselves.
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Freebies Saturday - 1/29/11

It is time once again for this weeks Freebie Saturday. This makes the 11th weekly edition of this feature. I make every effort to make sure that the freebies I list are real free offers. If you have to answer a survey and then go to through 50 pages of ads to get the so called free item, I consider that spam. That is why I make every effort to make sure that those websites are never included in my list.

I first wrote about the free Yoplait original yogurt offer in December, but it’s still going strong so here’s a friendly reminder. Just like their facebook page (if you haven't already) then click on "Get Your free cup," think I am going to make another request. That one in December was soooo good.

Organize your financial life today with these free forms. Today I would like to mention one of the best freebies. These freebies are available 365 days a year. Twenty-four hours a day. That is various budgeting forms on our sister website. Click here to download and print them off. Forms include, grocery shopping list, monthly budget form, Non-Monthly Expense Form, Newlyweds Who Owes What Form, Financial Goals, and more.
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Big Thank You to End of Life Celebration

We here at Debt Free 4ever would like to give a great big shout out for designing some sleek, affordable online memorials as our newest sponsor (through our fiverr gig). We really appreciate it. And the service they provide is great. Helping people remember their loved ones at the end of their lives with respect and dignity. Thank you again End of life celebration.


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Frugal Tip 13: Thrifty Shopping

Recently I started posting a more in depth look at each of the frugal tips. Over the next few weeks I will publish the frugal tips that I have collected. Please note that not every tip will work for everyone. Chose as many of the tips that will work with you and your family and start implementing them. Today we will proceed with Tip #13 Go to thrift stores, yard sales, and auctions, rather then buying new.
Many people are now looking for more and more ways in which they can save money, especially on many of the basics, such as clothing. Thrift stores offer you the consumer a way to get necessities, and even a few luxury items, at a fraction of the cost of those same items in larger retail stores.

In fact, if you shop the sales at these stores you can save even more money. Every thrift store has it's own way of running sales – one store may discount items with a certain color tag, while another may offer a percentage of off a different department each day. Find out how sales are handled at the stores around you. Then, make the most of them.

Recently this idea has become more of a concern then I ever remember it being. That is because the number of incidents of bedbugs has risen. So what do we do to avoid getting bugged by these pests?

Sure, it's a sweet deal in theory, but scoring a sidewalk sofa isn't necessarily a harmless act anymore -- at least not as long as bedbugs are as serious an issue as they are right now.
- LemonDrop.com

First if it is on the curbside (instead of donated to a local charity) that should be a red flag. It is probably there for a reason. Perhaps because the previous owners are dealing with the little critters themselves. So stay away from those items on the street corner.

Still, take heed against thrift store furniture, too -- especially if it's wooden or porous, like wicker furniture. Bed bugs can hide in wooden cracks and wicker crannies unseen to the human eye.
- LemonDrop.com

As for clothing LemonDrop.com also suggests,

Before buying, give your thrift store find a 360-degree look to determine bedbug risk. Stretch knitting between your fingers to expose any resting critters, and look along the inner lining of a winter jacket. If it seems suspicious, pass it over.
- LemonDrop.com

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Frugal Tip 12: Cut Your Own Hair

Recently I started posting a more in depth look at each of the frugal tips. Over the next few weeks I will publish the frugal tips that I have collected. Please note that not every tip will work for everyone. Chose as many of the tips that will work with you and your family and start implementing them. Today we will proceed with Tip #12 I only cut my hair 3-4 times a year...this last year I gave myself a crew-cut and was able to go six months before getting another hair cut. Last year I shaved my head bald. Kind of getting used to when I actually do go bald (LOL). Anyway, there was one time I actually spent the $8 to get my hair cut. I had let my hair grow back, and before my wedding I got a professional cut. Which brings me to my concern about cutting my own hair.
That being, How do I cut it so it looks good? I mean I really don't want a military style cut all the time. Nor a shaved head. So what can I do? One idea may be an answer that the following video (from WonderHowTo.com) attempts to answer.

Learn How to cut your own hair to save money. For more Hairstyling How-To Videos & Articles, visit WonderHowTo.

Of course, I would be scared to go out in public if my hair looked like his does at the beginning of the video (from WonderHowTo.com). The final haircut looks okay, but I prefer my hair to lay flatter. More "professional" if you will. Perhaps though, I can learn how to give myself that haircut style I prefer, so that I can dispense with the crew-cuts.



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The Benefits of Bridging Finance

Alban is a personal finance writer at Home Loan Finder, a home loan comparison website.


When you are buying a new home, you are focused on getting the best value for money, in the nicest neighborhood, with the right features for your family. However, if you are upgrading your family home, then you will also need to be thinking about whether you want to sell your existing home before buying a new one, or whether you will buy your new home and then worry about selling your old one.

If you opt to buy a new home before selling your old one you won’t have to worry about finding a new home before settlement on your old home and you won’t have to worry about being homeless if it takes longer than expected to find your new dream home. However, what you will need to work out, is how you are going to buy your new home before selling your old one, because few people have the cash for a new home lying around, and you’re probably relying on the equity in the sale price of your old home, to finance your new one.

That is where bridging finance comes in as it can help you own two properties at once, as your lender advances you the funds you need for your new home, without calling in the loan on your existing home until it sells.

How does bridging finance work?

Bridging finance is usually a short term loan for around one to six months and helps make the transition from your old home to your new one smooth and easy. A bridging home loan will be approved based on the amount of equity you have in your existing home. Your lender will then advance you the amount you need to buy your new home, which can often also include the money you need to cover fees and other home buying costs.

Once you have bought your new home you can move straight in, and then take your time selling your old home to the right buyer, at the right price. In some cases you can also capitalize your interest into your equity amount so you may not have to make repayments on two mortgages at the same time, instead the costs come out of the sale price.

The interest rate on bridging finance may be calculated monthly or yearly and can be as low as 1.5% or as high as a normal home loan at around 6% interest.

What are the advantages of bridging finance?

When you are looking for bridging finance it is important to remember that the features of a bridging loan can be as varied and inclusive as those you compared when looking for your original home loan. Therefore, make sure you look for features and benefits such as:
Interest only repayments during the bridging period.
Flexible repayment options on your bridging loan, and on your standard loan once your old house is sold.
Your choice of term where some bridging finance loans can have a loan term of up to 12 months.
Standard variable interest rate, rather than an inflated bridging interest rate.


When you are buying a new home, there is pressure from all sides – your children each have their own demands for their new home, your parents want you to stay close to them and there is the all important matter of proximity to your partner’s friends. Therefore, when you are able to remove the pressure to sell your old home, and be free to enjoy the house hunt and the excitement of moving into your new home, then relieving the pressure of the move can be the biggest advantage of all.

Bridging finance is also advantageous because it is usually quick to organize, and so there is little risk you’ll miss out on your new dream home thanks to approvals processes. Plus, you can use bridging finance to buy at auction, as a first or a second mortgage, to renovate your home, build a new home or consolidate debts.

Most importantly, look for the added advantage of deferring fees and repayments until your new home is completed or your old one is sold as this will reduce financial pressure too.

What to watch out for with bridging finance?

Before you decide that bridging finance is the right option for you, make sure that you can minimize the risks such as:
Your old home takes longer to sell than expected. Before you apply for bridging finance, do some research into your neighborhood, asking local real estate agents should be informative, and find out how long houses are usually on the market for. It may also be useful to find out if there is anything you can do to ensure your house sells more quickly, such as some minor renovations or repairs. When your old home doesn’t sell as quickly as you’d hoped, the interest on your bridging loan can add up, and eat into your equity.
Can you rent your home? If the market is particularly slow, it may be possible to bring in short term tenants to rent your home while it is on the market. This rental income can go some way to cover the interest costs of your bridging finance.
Do you have enough equity? To be approved for a bridging loan you may need to have sufficient equity in your home to cover the amount, so make sure the budget for your new home and the funds you have to finance the bridging term match up.
You may have to sell your home for a lower price. Even though bridging finance is easy to use and obtain, you will still be aware of the interest charges adding up, so you may be forced to sell your home for a lower asking price, just to be free of a drawn out bridging loan contract.
Watch for higher interest rates. Some lenders will apply a higher interest rate to bridging finance because it is perceived to be a greater risk. Therefore, you will need to shop around for the best interest rate deal.

When should bridging finance be used?

If you weigh the risks and advantages of bridging finance for your situation you can make just about any buy and move easier and less stressful. You can also using bridging finance if you are building your new home and you simply stay in your old home until your new one is completed, at which time your old home can go on the market.

You can also use bridging finance to cover a short time period, for example a gap between the settlement period of your old home and your new home. While you are not waiting to buy your new home or sell your old one, there is still a period where you will have two home loans until sales are processed.

Remember that you don’t have to obtain bridging finance from your existing lender, you can shop around for the best deal and have your new lender who is offering you a great deal on your new home loan, provide the bridging finance as well.

Bridging finance is not used only in the home and investment loan markets and can be used for cash flow purchases or to cover unexpected costs in a business, or to fund the expansion of a business or premises. You can also use bridging finance to purchase shares, other investments, or pay your tax bills, while the bridging finance is still secured by the equity available in your property.






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Frugal Tip 11: Put Raises or Bonuses in Savings or Apply Towards Debt

Recently I started posting a more in depth look at each of the frugal tips. Over the next few weeks I will publish the frugal tips that I have collected. Please note that not every tip will work for everyone. Chose as many of the tips that will work with you and your family and start implementing them. Today we will proceed with Tip #11 Put raises or bonuses in savings or apply towards debt.

This is something that I believe is the best way to help you get out of debt. You have been living on $x every week then you get a raise. Take that raise and apply the difference in your paycheck towards your debt (or put it in savings if you are debt free). The same is true for any bonuses you might get.

Bonuses, raises and overtime: Anytime you get a raise, bonus or earn overtime, you should use at least a portion of that money to pay towards your debt. Since this is “extra” money that you didn’t have before, you shouldn’t miss the money that you put towards your debt.
- Mommies Magazine

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Paying Off Debt Using Credit Cards? You Might Want to Think Twice About It

This article was written by Atlanta Bankruptcy Attorney Marty Adkins of the Adkins Firm. Marty has been helping people get out of debt for over two decades.



I often hear people ask the question: "Is okay to pay off various loans with my credit card?" It's easy to see why someone might find this option appealing in the short term. After all, there is something about handing over cold hard cash that seems so much more real than using plastic, and not having to deal with it for a while. These people simply aren't thinking in the long-run though, and in order to be financially responsible and successful, this is what one must do.
The idea of paying off your debt, only by taking on more debt is, in most cases, simply irrational. Honestly, there is rarely a case where putting outstanding debt on a credit card should be seen as a responsible financial decision. This shows that you're relying too much on credit, and bankruptcy might be in your future.

A Few Reasons Why It's Not a Good Idea

Your credit score will suffer!

You really need to look out for your debt-to-credit ratio. This is one of the major factors that ultimately dictates weather your credit score is good or bad. When the money you owe is greater than the amount of credit given to you, chances are, you're credit score isn't the best.

You'll have to deal with more interest!

In most cases, interest rates on credit cards are higher than interest rates on other loans you might have, like for your car or mortgage. Using a form of payment that already comes with a high interest rate to pay off other loans (even if they need to be paid promptly), just does not make any financial sense.

Is There An Acceptable Circumstance?

I'm reluctant to say it, but yes, there is. This is in the case when the credit card has a time slot in which you do not have to pay any interest. When you accept a new credit card, make sure it offers the introductory no-interest period or no-interest on balances that have been transferred. With that in mind, just know that credit card companies eventually plan on profiting from you. Many times cardholders will fail to make a payment once the preliminary period is over.
All in all, in rare cases you can use a credit card to pay off other balances, but more often than not, it's just a bad idea. Continue to make your regular credit card payments, and only use it in extreme emergencies. If you are having sincere problems keeping up with your regular monthly payments: rent, mortgage, utilities, outstanding debt, you may want to consider speaking with a bankruptcy attorney.




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Contest

Mark at Buy Like Buffet is giving away an iPad and three gift certificates, with 20 entries available per person. Ends 1/31. I have been so wanting an ipad for a very long time. I hope that I win this one. In the meantime, I wanted you to have a chance at winning one of these great prizes as well.


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Freebies Saturday - 1/22/11

It is time once again for this weeks Freebie Saturday. This makes the 11th weekly edition of this feature. I make every effort to make sure that the freebies I list are real free offers. If you have to answer a survey and then go to through 50 pages of ads to get the so called free item, I consider that spam. That is why I make every effort to make sure that those websites are never included in my list.

Request a free 3 year subscription to CBS Watch! magazine by filling out the form and choosing to receive the print edition. You'll get your first issue in 6-8 weeks.

This freebie is only for those in the U.S. and expires on March 1, 2011 or until 50,000 requests are received.

Request a free Sample of Greens+ Omega 3 Chia (pronounced chee’ah) Seeds, is the richest and only unprocessed, whole food source of pure Omega3. A member of the mint family, Chia is native to Central America and has been used traditionally for over 3000 years. Ancient Aztec warriors prized Chia as an endurance–promoting Superfood, eating it in bread just before battle and drinking it in water before running long distances. Fill out the form for a free sample! U. S. residents only.

Free sample of Herbal Essence shampoo and conditioner. They are giving away 6,000/day. Check in at 12 pm EST (11 am central 9 am Pacific) today to see if you can grab yours before they are gone.

To receive your free sample of LACTAID® Fast Act Dietary Supplements, please provide your information in the form at the link.

Get a free sample Color Catcher® from Shout. With Color Catcher® you can mix whites, lights and colors without worrying about color runs. No need to separate clothes by color! Color Catcher® traps loose dyes and dirt released during the wash cycle. At the end of the wash, the dye and dirt come out on the Color Catcher® sheet, not your clothes. The Proof is on the Sheet.™


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Frugal Tip: Rounding Up

Recently I started posting a more in depth look at each of the frugal tips. Over the next few weeks I will publish the frugal tips that I have collected. Please note that not every tip will work for everyone. Chose as many of the tips that will work with you and your family and start implementing them. Today we will proceed with Tip #10 Round up in checkbook and place excess in savings at end of the month.

This is something that I have done over the years as has several of my blogging friends, such as Dawn over at Frugal For Life.
The idea is a simple one, make a rounded entry in the check register for the check you've written. When you do, make sure you round up, never down for deductions. You want to subtract a little more than you actually wrote the check for. For example; if you wrote the check for $15.06, make a register entry for $16.00. This will leave extra in your bank account and will be a hedge against overdrafts. At the end of the month, move the excess to your savings account.

Most checkbook registers have extra columns that are rarely used, often labeled “Code” or “Fee”; if you write a check for $23.78, enter it in your checkbook register as $24.00; record the $0.22 in one of those spare columns. Similarly, if you deposit $468.37, enter the deposit as $468.00 and record the $0.37 in the same column where you recorded the $0.22. As you complete a page in your checkbook register, total the “spare change” column at the bottom of the page. Carry this amount over to the next page; when you complete that page, add the carried over total to the current page total, and carry the sum to the next page, and so on.

At least once per month, total up your “spare change” and transfer that amount into your savings account. Once you’ve transferred the funds, your “spare change” column starts over at zero. Depending on how often you utilize your checking account, you may find you can quickly add a few hundred dollars to your savings with this method.

- Suite 101

There are some banks that help do this for you. However, the banks that do this rip you off elsewhere and are not banks that I am interested in using. I can do it myself and not have all those extra fees that those big mega banks charge.


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Country Strong

Wednesday morning I was listening to a local talk radio station and they asked for caller number 2. Caller 2 would win a pair of tickets to see the movie Country Strong. This was one of the movies that both my wife and I had wanted to see. So Thursday after got home from work, we had a date night and went to see the (now free) movie.
There were only 2 other people in the theater besides us. Prompting me to tell my wife that this movie wouldn't last long. That it would soon be pulled for another movie. When we left a couple of theater employees were on a ladder changing the Mylars (banners) on the lighted sign at the beginning of the hallway. I looked up and didn't see Country Strong up there. As we were looking at the sign to see what movies were going to be there starting today, the one on the ladder asked how we were and what movie we had seen. We told him and he said that he had liked the film when he had seen it to. I asked if that was the last night for the film. His reply as I suspected was an affirmative. He then asked me something that surprised me. That being if I wanted the Mylar. I said, 'sure," so now my wife and I have that Mylar hanging on our bedroom wall (as can be seen in the picture) as a reminder of the terrific night.




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Many Thanks To A New Sponsor

I would like to thank pharmacy discount card for sponsoring this blog. It is a good fit for this website since the card is dedicated to saving money for people who don't have insurance on their prescriptions. A card that thousands are already using.

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Frugal Tips: Pick that Penny Up

Recently I started posting a more in depth look at each of the frugal tips. Over the next few weeks I will publish the frugal tips that I have collected. Please note that not every tip will work for everyone. Chose as many of the tips that will work with you and your family and start implementing them. Today we will proceed with Tip #9 Pick up money from the ground and save in my change jar.

One thing I am amazed at is the number of people that will walk right over dropped coins. I don't care if it is a penny, nickle, dime, quarter or whatever other denomination it may be; the change is money you didn't have before. So pick it up and take it home to put in the change jar. Ben Franklin is famously quoted, "A penny saved is a penny earned." That cannot be more true then found money such as the money found on the ground.

Maybe it is because I grew up poor. Maybe its because I think stuff like this through more. Whatever the reason I cringe when I hear people say "it's only a penny." That money can add up especially when it goes into your savings account and begins earning interest.

What about you? Do you pick up money off the ground? Will you start after reading this post? Why or why not?




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Frugal Tip: Wash clothes in cold water to save on heat

Recently I started posting a more in depth look at each of the frugal tips. Over the next few weeks I will publish the frugal tips that I have collected. Please note that not every tip will work for everyone. Chose as many of the tips that will work with you and your family and start implementing them. Today we will proceed with Tip #8 Wash clothes in cold water to save on heat.

This is something I begin hearing and learning about when I was in the full -time ministry. Until I started researching this topic for this article.

Eighty to ninety percent of the energy used to wash clothes heats the water, a practice that is increasingly unnecessary as advances in clothes washers and laundry detergents have made it possible to get white and colored clothes perfectly clean in cold water. Except when washing out particularly tough stains, such as oil, every load of laundry done in hot water wastes energy.
- Charity Guide

Unfortunately my current washing machine won't let me do this. It has no temperature control knob. Instead it sets the temp automatically based on if you set it for casual or normal laundry. Still that doesn't change the facts that you can get your clothes clean in cold water.

Here's one easy way to clean green: turn the dial to cold water.

With most clothes, you really don't need hot water to get a good cleaning. Ninety percent of the energy used by washing machines goes into heating the water. The higher the temperature of the water, the more electricity you're running and the higher the cost in terms of both energy use and money.

Add in one of the earth-friendly laundry detergents available everywhere these days and chill out about any harm to your clothes or the environment.
- The Daily Green

So why not set your washing machine to cold wash/cold rinse and save yourself a few dollars on your energy bill? Your clothes will still get clean and your pocketbook will thank you (not to mention mother nature).



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Spend Less by Reducing your Exposure to Ads

This guest post is contributed by Raine Parker, who writes on the topics of online accounting degree. She welcomes your comments at her email Id: raine.parker6@gmail.com.

I know what you're thinking. How can cutting down on ad-heavy media like television, the Internet, and radio, possibly save me money? Perhaps you are one of many consumers who are convinced that advertisements don't affect their spending behavior. Well I have news for you: ads are extremely sophisticated (and expensive) these days for a reason they have an unprecedented power to affect your spending habits on a subconscious level. So if you want to save some money, consider the advantages of cutting down your family's exposure to advertisements. Here are a few tips for doing just that:

1. Half your time on the Internet.
Just like television was in the latter part of the 20th century, the Internet is now the new frontier for purveying advertisements. They're practically everywhere on Facebook, on your favorite news sites, in your inbox. Even though everyone's is touting the democratization of consumer wants and needs via social media, it's really just another form of advertising in disguise. By cutting down on your Internet time, your desire to spend will be reduced.

2. Hit the mute button during commercial TV breaks.
While advertisements are very deeply embedded in the Internet, on television, they're a little bit easier to control since they're basically sectioned off in very specific break times. During these times, hit the mute button and have a short conversation with whomever you're watching TV, or even go for a quick walk outside.

3. Before going to the grocery store, make a list and stick to it.
The grocery store is one of the most ad-heavy physical spaces that we encounter on a regular basis. Even though there aren't any overt advertisements like commercials or billboards, items at the store are covered in packaging that tries to sell the product. While all these extra items sound tempting because they promise certain results, make a pact to yourself that you will only buy what's on your list and nothing more.

4. Spend less time among big spenders.
Sometimes it is other people who can be the most influential advertisements out there, and they may not even work for the company whose products they promote. You know precisely who I'm talking about that one friend who has to have the latest gizmo, who can't stop talking about the effectiveness of X health product or Y instructional video. By spending less time with people who are avid consumers, your desire to spend will also be lessened.

5. Enjoy your leisure time in ad-free zones.
Yes, despite being completely entrenched in our consumerist society, there are places we can go where there is no advertising. For example, instead of taking your loved ones to the movies (which now precede their showings with ads) go for a walk in a city park. Instead of going to your traditional retail bookstore, where additional frills like coffee vendors and toy sections will tempt you to spend more, go to a public library. Turn off that annoying, ad-filled pop radio station, and switch on your public or non-profit options, which often expose their listeners to a wide variety of music, including classical and world beats.

While you may be skeptical about the power of advertisements to affect your spending decisions, studies have shown that ads can especially affect children's psychological and developmental health. At the very least, you'll be relieving brain from a lot of unnecessary market-driven stimuli if you make it a point to avoid ads. For more information on the effects of advertising, check out this article published in New Internationalist Magazine.






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Frugal Tip: Cook meals at home

Recently I started posting a more in depth look at each of the frugal tips. Over the next few weeks I will publish the frugal tips that I have collected. Please note that not every tip will work for everyone. Chose as many of the tips that will work with you and your family and start implementing them. Today we will proceed with Tip #7 Cook your own meals at home rather then eating out.

If you are one to eat out every day. Even if you eat out only once a week. This is probably the tip that will save you the mot money. For those of you that only eat out for lunch during work hours, taking your own lunch that you prepared at home is the key we are talking about here.

I know in some cases it can be difficult. For example I work in a fast food chicken place. There is no break-room and no microwave to heat up my own lunch in. The chicken is broasted in peanut oil and is very healthy for you. As is the yogurts and salads that they serve. Still, it is not cheap. Even with my 50% discount. It is not always in the budget. How do I eat my own lunch without getting odd looks from co-workers and customers. I mean if you are a customer and you seen an employee that won't eat the restaurants food. What kind of message does that send? I need to find that balance.
Some might suggest sitting in my car. However, right now it is cold. Which means I would have to turn on the car and waste gas (and the money spent to buy it) to keep the car warm. I know it is possible not only for you, but for me to. It is important to our budgets to cut expenses everywhere that we can.

When I worked at the grocery store, it was a lot easier. Same with working in an office. However, how do I do it while I am working in a fast food restaurant?

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Comparing Budget Percentage and Guideline Recomendations

I thought today, I might take some time and help define, the recommended budget percentages. These personal budget category percentages will help you get your budget into line and on track.

One of the hardest things to do when you're creating a household budget, is to try and see where your money is going. The first thing you need to do is track your spending and see where you are overspending.

The chart below shows what some budget category percentages should be, based on four different sources. Each source has a slightly different range and your budget will change based on your income and spending needs.

Category	Dave Ramsey	Typical Credit Counseling Advice	Consumer Credit Counseling Services	Prince Of Thrift
Charitable Giving	10-15%	4%	-NA-	10-15%
Housing	25-35%	24%	20-30%	30-40%
Utilities	5-10%	included in Housing	4-7%	included in Housing
Food	5-15%	14%	15-20%	5-15%
Transportation	10-15%	17%	6-20%	10-15%
Medical	5-10%	6%	2-8%	5-10%
Clothing	2-7%	6%	2-4%	2-7%
Invest/Savings	5-10%	13%	5-10%	5-10%
Debt Payments	5-10%	13%	15-20%	5-10%
Misc. (Personal,Recreation,Life Ins.)	5-10%	5%	5-10%	5-10%

For example, a person with a lower income will have a higher percentage on basic needs than a person with more income, who may put more money into savings, recreation, or charity. Or, if you live in a more expensive area, you’ll spend more on housing, etc. Remember, these are only guidelines, you situation may call for numbers outside these percentages.

If you haven't already done so, you may want to check out my free downloadable budget form. Available at PrinceOfThrift.com.
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Growing Pains

DebtFree4ever is growing. Looking at the stats on sitemeter.com this month is already the second best month in the past year. October thus far has come in first with 7,554 unique visitors. November came in third with 3,570. Thus far on this 15th day of January (as you can see in the image here) we have received 4,324 unique visitors. If these numbers hold up January 2011 will see more visitors then October. Already there has been more visitors then last January (2,289) and February (1,696) combined (a total of 3,985).




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Freebies Saturday - 1/15/11

It is time once again for this weeks Freebie Saturday. This makes the 10th weekly edition of this feature. I make every effort to make sure that the freebies I list are real free offers. If you have to answer a survey and then go to through 50 pages of ads to get the so called free item, I consider that spam. That is why I make every effort to make sure that those websites are never included in my list.

Fill out the form under this link to receive a free sample of Crest 3D Whitestrips.

Try Amazon Video On Demand With a Free Hit Movie. This offer expire March 31, 2011.

You can get your free sample of Cream of Wheat Cinnabon by clicking the link in the bottom right corner that says Want to Get a Free Sample of Cream of Wheat Cinnabon? Fill out the freebie form and click Submit to request your free sample.
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Thank You

I want to give a great big Thank You to how to make $1,000/month taking surveys ebook for becoming a sponsor on this blog through my fiverr gig.







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Turn off all lights when not in a room

Recently I started posting a more in depth look at each of the frugal tips. Over the next few weeks I will publish the frugal tips that I have collected. Please note that not every tip will work for everyone. Chose as many of the tips that will work with you and your family and start implementing them. Today we will proceed with Tip #6 Turn off all lights when not in a room.

This one we all have heard for years. There was even a time when people would claim it would cost more to turn the light off and turn it back on if they were gone only a couple of minutes. But today we are going to look at the facts. What is true and what isn't?

First, the cost effectiveness of when to turn off lights depends on the type of lights.

Incandescent Lighting

Incandescent lights (or bulbs) should be turned off whenever they are not needed. Nearly all types of incandescent light bulbs are fairly inexpensive to produce and are relatively inefficient. Only about 10%–15% of the electricity that incandescent lights consume results in light—the rest is turned into heat. Turning the light(s) off will keep a room cooler, an extra benefit in the summer. Therefore, the value of the energy saved by not having the lights on will be far greater than the cost of having to replace the bulb.
- EnergySavers.gov

It absolutely doesn't affect the lamp life of an incandescent bulb very much at all. So it makes sense to always turn them off when you a leave room, even if it's only for a few minutes.

Fluorescent Lighting

The cost effectiveness of turning fluorescent lights off to conserve energy is a bit more complicated. For most areas of the United States, a general rule-of-thumb for when to turn off a fluorescent light is if you leave a room for more than 15 minutes, it is probably more cost effective to turn the light off. Or in other words, if you leave the room for only up to 15 minutes, it will generally be more cost effective to leave the light(s) on. In areas where electric rates are high and/or during peak demand periods, this period may be as low as 5 minutes.

Fluorescent lights are more expensive to buy, and their operating life is more affected by the number of times they are switched on and off, relative to incandescent lights. Therefore, it is a cost trade-off between saving energy and money by turning a light off "frequently" and having to replace the bulbs "more" frequently. This is because the reduction in usable lamp life due to frequent on/off switching will probably be greater than the benefit of extending the useful life of the bulb from reduced use. By frequent we mean turning the light off and on many times during the day.

It is a popularly held belief that fluorescent lights use a "lot" of energy to get started, and thus it is better not to turn them off for "short" periods. There is an increase in power demand when a light is switched on, and the exact amount of this increase depends on the type of ballast and lamp. The ballast provides an initial high voltage for starting the lamp and regulates the lamp current during operation. There are three basic types of ballasts: magnetic (of which there are energy-efficient and not so energy-efficient types), cathode-disconnect, and electronic. All types can operate two or more lamps simultaneously. There are three main methods that are used in a lamp's ballast to start the lamp: preheat, rapid-start, and instant-start.

In any case, the relatively higher "inrush" current required lasts for half a cycle, or 1/120th of a second. The amount of electricity consumed to supply the inrush current is equal to a few seconds or less of normal light operation. Turning off fluorescent lights for more than 5 seconds will save more energy than will be consumed in turning them back on again. Therefore, the real issue is the value of the electricity saved by turning the light off relative to the cost of relamping a fixture. This in turn determines the shortest cost-effective period for turning off a fluorescent light.
- EnergySavers.gov

Yahoo Green helps explain it this way,

Compact fluorescent light bulbs, on the other hand, are a somewhat different story. Flicking them on and off repeatedly will affect how long they last, although, Rubinstein points out that the impact is minimal for most households.

How much flicking on and off is too much? The general consensus is that it's best to turn off CFLs when you are leaving for 15 minutes or longer. In fact, Energy Star recommends installing fluorescent bulbs in fixtures that are used for at least 15 minutes at time. So it doesn't make sense to use them in places where you'd need to switch them on and off constantly.

The rule of thumb is a little different when you're at the office, according to Rubinstein. Turn out fluorescent lighting when you're leaving for at least 5 minutes. The reason? Full-size fluorescent systems aren't as sensitive to frequent cycling as CFLs and won't impact the life of the bulb as much.
- Yahoo! Green

LED Lighting

I searched and searched but could not find anything on the web that talked about how this strategy affected LED bulbs. Perhaps because they are still to new. Still I would like to find a definitive answer for these types of bulbs as well.

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Frugal Tip: Reuse Food Containers

Recently I started posting a more in depth look at each of the frugal tips. Over the next few weeks I will publish the frugal tips that I have collected. Please note that not every tip will work for everyone. Chose as many of the tips that will work with you and your family and start implementing them. Today we will proceed with Tip #5 Reusing plastic food containers.

Reuse the plastic margarine, cottage cheese, etc, etc bowls to store leftover food in.


This is something I learned from my mom. It is a great way to save money. In stead of purchasing the plastic containers to store food in from the department store reuse the ones you empty of it's original contents. My mom was doing this before microwaves even came onto the scene.

Recently though there has been some warnings about using such containers in the microwave.

When food is wrapped in plastic or placed in a plastic container and microwaved, substances used in manufacturing the plastic (plasticizers) may leak into the food. In particular, fatty foods such as meats and cheeses cause a chemical called diethylhexyl adipate to leach out of the plastic. This certainly sounds scary, so it’s little wonder that a warning is making its way across the Web.
- Family Health Guide

That doesn't mean you can't use the containers for storage. It just means you can't use some of these containers for heating your food. Which a lot of people will dish their food onto their plates and then heat their plate of food. However, if you are one that would heat your food in the microwave using the same storage container, here are some important things to know.

If the container originally contained cold food or beverages that was not intended to be heated (margarine, butter, cream cheese, cottage cheese, water, etc) it is not safe to heat with.

Microwavable takeout dinner trays are formulated for one-time use only and will say so on the package.

Don’t microwave plastic storage bags or plastic bags from the grocery store.

Before microwaving food, be sure to vent the container: Leave the lid ajar, or lift the edge of the cover.

Don’t allow plastic wrap to touch food during microwaving because it may melt. Wax paper, kitchen parchment paper, or white paper towels are alternatives.

If you’re concerned about plastic wraps or containers in the microwave, transfer food to glass or ceramic containers labeled for microwave oven use.
- Family Health Guide

It is important to remember,

Plastic food containers are lightweight, durable, often transparent and cheap. Although the Food and Drug Administration assures us that it carefully approves only materials that are "safe for their intended use," there are serious concerns among consumers about using some approved plastics in your kitchen.
- E-how

Some plastics are fine for reusing. The best way to know for sure is to look on the bottom. That little (recycling) triangle has a number in it. If it is a #2 (HDPE or "high density polyethylene"), used for milk jugs, is considered safe. Likewise so is #4 (LDPE or "low density polyethylene"), used in some plastic wraps and sandwich bags, is likewise considered safe finally the same is true for #5 (PP or "polypropylene"), which yogurt tubs are made of, is considered safe for reuse.

However, Soda and water bottles are often #1, which is (PET or "polyethylene terephthalate"). Its safety is still being debated, and you should probably not reuse these bottles.
Vegetable oil bottles and plastic wrap are likely #3, which is (PVC or "polyvinyl chloride") should be avoided, as it contains phthalates. Phthalates may cause reproductive and development problems.

I hope this clears up the myths and facts around reusing plastic food containers.
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2011 - The Future and Career

Good morning. Hope everyone is doing well this morning. Last night, while I was at church I had a thought about this post. When I got home and briefly checked my messages before retiring for the night I found someone had asked me a question about this very topic. In fact it was about the same time I was thinking about it at church.

What's going on with the career search? Any new leads, interviews, etc. or will fast-food part-time work be "it?" You certainly were brave to jump ship in the middle of a recession without a large safety net in place.....
- Robert

It is a very good question. I came to Austin because I felt the Lord my God was guiding me here. I knew when I left and gave up a $30,000/year job that there was some risk. I knew also that I would have to start over. That is all part of serving the Lord. Especially those that are in the ministry. While I am not in full-time ministry I am still in His service and am more involved in ministry then I have since I left full-time ministry (in Chicago) back in 1996. I am keeping my options open actively looking for other opportunities. I have not had an more interviews in the past month. However, I am getting a few more hours at work. This week I am working 24 hours which is more then the 15 hours I received the previous few weeks. It is still not enough to get insurance which needs to be at least 30 hours.

At the same time though, they are Christian owned and operated and understand the help I do around the church. They are willing to work around the church activities which is huge plus. The best thing is that the corporate policy of their chain (from coast to coast) is that they are closed on Sundays. Which is a huge advantage for those of us that want to be able to attend services and spend time with our families.

I truly do believe God lead us here and the ministry and blog can become the primary source of our resources. It may not happen overnight. It may mean I become supported more missionary style. I don't know what God has planned. I do know I need to finish getting my finances and Bible series written so that each message is ready to deliver at church. Not to mention so that I can get it published and spread that message through other churches. Not to mention the other books I need to work on, finish and get published.

I expect great things for 2011 and am eager to see what God has in store for me and my family.



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New Look

Last week I sat in and started trying to make my blog more user friendly. Some reported having a hard time to get the page to open. Figuring that it could possibly be a problem to much stuff on the page rather then individual server issues. I set out to find a way to ease the load time. What I found was to create tabs. If you look across the top of the page I now have tabs up there. Theses tabs helped me get some of the information out of the sidebars and hidden behind their own respective tabs. If you want to watch some of my videos, they can be found under the "video" tab. If you want to see all the press that I have received, that can be found under the "news" tab. All the honors and memberships and such are under the "honors" tab and so forth. I hope this will ease loading times and increase the experience each of you have on my blog. I hope also that every visitor will also use the budget forms that we have placed on the sister site at PrinceOfThrift.com.
Thanks be sure to let me know what you think of the new design.



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Frugal Tip: Pay Bills Online

Over the next few weeks I will publish the frugal tips that I have collected. Please note that not every tip will work for everyone. Chose as many of the tips that will work with you and your family and start implementing them. Today we will proceed with Tip #4 Pay Bills Online.
This is something I began doing several years ago. Paying nearly all my bills online eliminating the cost of stamps and checks. You can pay bills on a regular schedule without having to send or write checks and pay for postage. In addition, paying online simplifies your paperwork, allowing you to automate certain aspects of your budget. While you could pay online through most billers websites, I prefer to do so through my own financial institution. By using my own financial institutions website I save time from going to what could be dozens of separate websites. Besides, by using my financial institutions website I am not giving each of those billers access to my financial accounts.

It is something I have come to love. Besides the money and time it saves it also better for the environment as there is less paper. The best part is I can automate it and have a payment in $x sent to bill X each every month. I don't have to think about it or remember it. All I have to is be sure there is money in the account before the transaction occurs. Then once it does, I just need to record it in my check register.

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Frugal Tip: Insulation

Over the next few weeks I will publish the frugal tips that I have collected. Please note that not every tip will work for everyone. Chose as many of the tips that will work with you and your family and start implementing them. Today we will proceed with Tip #3 Insulation.


Insulation is the most effective way to improve the energy efficiency of a home. Insulation of the building envelope helps keep heat in during the winter, but lets heat out during summer to improve comfort and save energy.
Insulating a home can save 45–55% of heating and cooling energy.

Benefits of insulation:

comfort is improved year-round;

it reduces the cost of heating and cooling by
over 40%;

it pays for itself in around five to six years;

there is less need for heating and cooling which
saves non-renewable resources and reduces
greenhouse gas emissions;

it virtually eliminates condensation on walls and
ceilings; and

some insulation materials can also be used for
sound proofing.

If you have a home that isn't insulated (or is under insulated) I highly recommend that you get insulation added ASAP. In the house I recently sold, I went several winters with no insulation. I finally got insulation blown into the attic and it made a real difference. Now that I am in an apartment I hope that the owners were smart enough to install insulation when they built these buildings in the 1980's.


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1st Two Bank Failures of 2011

The first two bank failures of 2011 has been announced. On Friday Jan 7, 2011 seized the assents of Legacy Bank of Scottsdale, Arizona. Both branches of Legacy Bank will reopen Monday morning (Jan 10) as branches of Enterprise Bank & Trust of St. Louis, Missouri.
The other ban seizure was in Orlando, FL where the First Commercial Bank of Florida was closed. The former First Commercial Bank of Florida locations will reopen as branches of First Southern Bank, of Boca Raton, FL during regular business hours.
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