Angie says:
I know that here on this site we're trying to save money, but part of saving money and being thrifty is knowing what to spend money on and what not to spend money on. I'm notoriously cheap when it comes to certain things. Let me tell you about a few lessons learned about this.
A few years ago my husband and I bought a vinyl shed to put our stuff in. for $50 bucks the store would come and put it together for us. Nope, I was going to save $50 bucks and do it myself because I'm a handy person. About $150 and three days taken off of work (to get it done before the snow fell) later I was kicking myself for being cheap. That shed was really hard to figure out. My brother even came over for a few days to help and didn't have much better luck.
If a company offers to put something together FOR you, for a good deal, let them. That shed was a pain in the tuckus.
My next lesson was just recently. In order to save money on painting our house my husband and I have been doing it by hand (I hate T-11 siding, oh how I hate it). Because it has rained almost all the time since we started we've been running outside whenever the sun peeks out. We haven't done anything really this summer because we've been staying home in case it turns out sunny. I broke down and rented a paint sprayer yesterday. Best thing that I did in a long time.
So the moral is: be cheap elsewhere, make your own coffee, don't buy trendy clothes, don't buy a plasma tv when your tv works just fine. Do rent a paint sprayer if it's been raining non-stop for over a month; Do let someone else put together an extremely complicated shed.
Monday, August 4, 2008
for all you gen exers
Molly says:
Here's an article I found interesting -- all about how my fellow gen-xers need to start saving, saving, saving for retirement. Not the most scintillating of topics, I know, but time's a-wasting and those baby boomers are gonna suck the teet dry of all the money we're putting into social security. Those bastards.
Generation X's Last, Best Hope for Retirement
It's not too late yet -- but it's getting close.
By Chuck Saletta
Motley Fool
July. 27, 2008
If older Americans are in trouble when it comes to their retirement planning, Generation X is in big trouble, because:
Pensions have become things of the past.
The Social Security system is failing.
Debt, debt, and more debt.
We Gen Xers are staring into a financial future bleaker than anything our baby boomer parents imagined.
From bad to worseUSA Todaypublished an article that painted a grim future for the generation born from 1965 through 1980. The employer and social safety nets are gone. Life expectancies are on the rise -- so retirement will last longer. That might sound great, but with insufficient retirement funds, those years won't be so golden after all.
While time is less of an ally now, this problem can be solved.
Tick, tock!The oldest members of Generation X are 43 years old. In 20 or 25 years, they'll be ready to retire -- if they have the nest egg they need. Unfortunately, it gets a lot tougher to amass that nest egg the longer you wait. Time is the enemy here. The less time you have to let your money compound, the more you'll need to come up with out of pocket every month to reach your goal.
Say, for instance, you figure you'll need $1,000,000 and a paid-off home to live comfortably in retirement. If you've been working on your home but not your nest egg, the battle is already starting to get tougher, and the longer you wait, the nastier it will get.
For instance, assume you can get an 8% annual return on your investments. Depending on how much you've got socked away, here's how much you'd have to invest every month to retire with that (see link above to view graphic)
Unless you're a leading-edge Generation Xer who's already got a decent nest egg -- and statistics show that there aren't many in that camp -- this may well be your last realistic chance to retire comfortably at a reasonable age.
Start soon, but start smartlyTime may be running out, but that's no reason to panic. Even the oldest members of Generation X can retire comfortably without stretching beyond the contributions they're likely eligible to make across both their 401(k)s and IRAs.
To get started, make these three priorities:
Invest enough every payday to be able to reach your goals.
Diversify appropriately to protect yourself from the failure of any one company.
Keep your retirement a top financial priority, no matter what life may throw your way.
The diversification part is particularly important, as investors in Bear Stearns or Countrywide can attest. Almost nobody called the size and speed of their implosions accurately. If they were the only companies you happened to own, then you might have been wiped out.
One of the big benefits of a broad index fund is the fact that you get a stake in many, generally successful, companies. In an S&P 500 fund, for instance, you get a stake in 500 companies. If a dozen or so of them hit the skids, then you still own 488 others that should mute your downside. Just look at the wide swings in performance for a handful of companies in the S&P 500 index over the past year: (again, see link above to view graphic)
While the index itself is down 16% over the past year, it has done far better than some of its constituents. I admit that this is a crude example of diversification, and I'm not suggesting you own nothing but a single index fund. But even the stock pickers among us can recognize that having at least a portion of their savings in a broad-market index will cushion them even if they've happened to pick the next abject failure within that index.
There's still hope yetAll is not lost for Gen Xers, but if the power of compounding money isn't put to work today, that dream retirement will be just that. So start saving with vigor, diversify appropriately, and make your retirement plan a reality, not an abstraction.
Here's an article I found interesting -- all about how my fellow gen-xers need to start saving, saving, saving for retirement. Not the most scintillating of topics, I know, but time's a-wasting and those baby boomers are gonna suck the teet dry of all the money we're putting into social security. Those bastards.
Generation X's Last, Best Hope for Retirement
It's not too late yet -- but it's getting close.
By Chuck Saletta
Motley Fool
July. 27, 2008
If older Americans are in trouble when it comes to their retirement planning, Generation X is in big trouble, because:
Pensions have become things of the past.
The Social Security system is failing.
Debt, debt, and more debt.
We Gen Xers are staring into a financial future bleaker than anything our baby boomer parents imagined.
From bad to worseUSA Todaypublished an article that painted a grim future for the generation born from 1965 through 1980. The employer and social safety nets are gone. Life expectancies are on the rise -- so retirement will last longer. That might sound great, but with insufficient retirement funds, those years won't be so golden after all.
While time is less of an ally now, this problem can be solved.
Tick, tock!The oldest members of Generation X are 43 years old. In 20 or 25 years, they'll be ready to retire -- if they have the nest egg they need. Unfortunately, it gets a lot tougher to amass that nest egg the longer you wait. Time is the enemy here. The less time you have to let your money compound, the more you'll need to come up with out of pocket every month to reach your goal.
Say, for instance, you figure you'll need $1,000,000 and a paid-off home to live comfortably in retirement. If you've been working on your home but not your nest egg, the battle is already starting to get tougher, and the longer you wait, the nastier it will get.
For instance, assume you can get an 8% annual return on your investments. Depending on how much you've got socked away, here's how much you'd have to invest every month to retire with that (see link above to view graphic)
Unless you're a leading-edge Generation Xer who's already got a decent nest egg -- and statistics show that there aren't many in that camp -- this may well be your last realistic chance to retire comfortably at a reasonable age.
Start soon, but start smartlyTime may be running out, but that's no reason to panic. Even the oldest members of Generation X can retire comfortably without stretching beyond the contributions they're likely eligible to make across both their 401(k)s and IRAs.
To get started, make these three priorities:
Invest enough every payday to be able to reach your goals.
Diversify appropriately to protect yourself from the failure of any one company.
Keep your retirement a top financial priority, no matter what life may throw your way.
The diversification part is particularly important, as investors in Bear Stearns or Countrywide can attest. Almost nobody called the size and speed of their implosions accurately. If they were the only companies you happened to own, then you might have been wiped out.
One of the big benefits of a broad index fund is the fact that you get a stake in many, generally successful, companies. In an S&P 500 fund, for instance, you get a stake in 500 companies. If a dozen or so of them hit the skids, then you still own 488 others that should mute your downside. Just look at the wide swings in performance for a handful of companies in the S&P 500 index over the past year: (again, see link above to view graphic)
While the index itself is down 16% over the past year, it has done far better than some of its constituents. I admit that this is a crude example of diversification, and I'm not suggesting you own nothing but a single index fund. But even the stock pickers among us can recognize that having at least a portion of their savings in a broad-market index will cushion them even if they've happened to pick the next abject failure within that index.
There's still hope yetAll is not lost for Gen Xers, but if the power of compounding money isn't put to work today, that dream retirement will be just that. So start saving with vigor, diversify appropriately, and make your retirement plan a reality, not an abstraction.
Tuesday, July 29, 2008
Entertaining On The Cheap Part II
Angie Says:
Earlier I told you about a little get together that I was having. Everything went over really well (as long as you don't as about the pie. Just don't ask). In a couple of weeks I'm having another little crafty get together and thought that I should start thinking about what inexpensive but fantastic foods I might whip up.
It got me thinking about a certain recipe. I don't think that the show is on anymore but on the Food Network there was a show called Good Deal with Dave Lieberman where he showed you how to entertain on a budget. Even though his budget was often larger than what I would spend his ideas were fantastic. The following is an adaptation of one of his recipes.
Empty the cans of beans into a colander and rinse them briefly under cold water. Drain thoroughly and empty the colander into a large serving bowl. Toss the beans together with the red onion and arugula. Shake the olive oil, vinegar, chopped basil, salt and pepper in a sealable container until the salt is dissolved. Pour the dressing over the salad and toss well. It's best to make and dress the salad about an hour before you serve it. Let it stand at room temperature, tossing every time you think about it. Just before serving, adjust the seasoning with salt and pepper, to taste.
Earlier I told you about a little get together that I was having. Everything went over really well (as long as you don't as about the pie. Just don't ask). In a couple of weeks I'm having another little crafty get together and thought that I should start thinking about what inexpensive but fantastic foods I might whip up.
It got me thinking about a certain recipe. I don't think that the show is on anymore but on the Food Network there was a show called Good Deal with Dave Lieberman where he showed you how to entertain on a budget. Even though his budget was often larger than what I would spend his ideas were fantastic. The following is an adaptation of one of his recipes.
Cannellini Bean, Red Onion, and Basil Salad
4 (15-ounce) cans cannellini beans
1 medium red onion, thinly sliced (about 1 1/2 cups)
1 bunch arugula, thick stems removed, washed and dried
1/2 cup extra virgin olive oil
1/4 cup balsamic vinegar
Handful washed basil leaves, roughly chopped
1 teaspoon salt 20 grinds black pepper
4 (15-ounce) cans cannellini beans
1 medium red onion, thinly sliced (about 1 1/2 cups)
1 bunch arugula, thick stems removed, washed and dried
1/2 cup extra virgin olive oil
1/4 cup balsamic vinegar
Handful washed basil leaves, roughly chopped
1 teaspoon salt 20 grinds black pepper
Empty the cans of beans into a colander and rinse them briefly under cold water. Drain thoroughly and empty the colander into a large serving bowl. Toss the beans together with the red onion and arugula. Shake the olive oil, vinegar, chopped basil, salt and pepper in a sealable container until the salt is dissolved. Pour the dressing over the salad and toss well. It's best to make and dress the salad about an hour before you serve it. Let it stand at room temperature, tossing every time you think about it. Just before serving, adjust the seasoning with salt and pepper, to taste.
So that is EXACTLY his recipe. You know that here in Alaska it's often hard to find certain food items. I hardly ever make this recipe with Cannellini beans because they're hard to find. I use navy beans and it's just as good. I also hardly ever find arugala so I just skip it. It's still very tasty and pretty inexpensive to make.
His recipe makes a lot (because it's for entertaining) so you can halve it, or quarter it really. In my book, it's just plain tasty.
A few things:
1. Make sure you rinse the beans and drain them well.
2. Make sure you're using a brand of canned beans that are still firm when you open them. Canned or not, they should still be fairly firm.
Monday, July 28, 2008
Sale alert!
Molly says:
I was at Walmart in Wasilla this weekend and saw tons of wedding favor boxes and invitation kits on clearance -- perhaps to make way for all the new Martha Stewart merchandise Walmart is now carrying. And it was good wedding stuff too. Not that tacky crap you see so much of. I bought several packages of small favor boxes, not for wedding stuff, but just to put in my stash of giftwrapping stuff for future gift-giving and -wrapping. They were a nice multi-purpose design, not to wedding-ish. 50 little favor boxes for $3. There were boxes of really pretty invites for the wedding and shower. Just tons of stuff that looked great -- I wish I could have found these back when I was in the market. The rack was in an odd spot in the store -- in a front corner amongst seasonal gardening stuff, so you might have a challenge finding it but it's worth the search.
Also, Lowe's had all its outdoor plants clearanced for half off. Trees were 75% off!
I was at Walmart in Wasilla this weekend and saw tons of wedding favor boxes and invitation kits on clearance -- perhaps to make way for all the new Martha Stewart merchandise Walmart is now carrying. And it was good wedding stuff too. Not that tacky crap you see so much of. I bought several packages of small favor boxes, not for wedding stuff, but just to put in my stash of giftwrapping stuff for future gift-giving and -wrapping. They were a nice multi-purpose design, not to wedding-ish. 50 little favor boxes for $3. There were boxes of really pretty invites for the wedding and shower. Just tons of stuff that looked great -- I wish I could have found these back when I was in the market. The rack was in an odd spot in the store -- in a front corner amongst seasonal gardening stuff, so you might have a challenge finding it but it's worth the search.
Also, Lowe's had all its outdoor plants clearanced for half off. Trees were 75% off!
Friday, July 25, 2008
trim your grocery bill
Molly says:
MSN Money has some really good articles lately on spending less at the grocery store.
In this article, a woman answers the call to try to feed her family of four on $100 a week. You can read the full story at the link above. Some of the key things I got from her:
The average food stamp allowance for a family of 4 is $117 per week.
The U.S. Government consider $182 per week a moderate budget for a family of four with ages similar to the author's.
$100 per week came to $1.19 per meal per person.
To stick with a budget like that requires meticulous planning of each meal and snack and everyone in the family has to stick with the plan.
Buy enough food to cover all the meals for the week -- returning to the store later might lead to overspending on impulse buys.
Instead of steak, buy lean stew meat and cook it in stew or soup. The crockpot works wonders.
Add three bean-based meals each week.
In terms of meat, consider canned: salmon, clams, tuna, and chicken are great in casseroles, wraps, and pasta and rice.
Stockpile stuff when you see a sale.
Cheap and healthy snacks: raisins, popcorn (cooked on the stove, not the microwave), carrot sticks, pretzels, cheese, and bananas.
Check the article to see the results of their weeklong experiment.
MSN Money has some really good articles lately on spending less at the grocery store.
In this article, a woman answers the call to try to feed her family of four on $100 a week. You can read the full story at the link above. Some of the key things I got from her:
The average food stamp allowance for a family of 4 is $117 per week.
The U.S. Government consider $182 per week a moderate budget for a family of four with ages similar to the author's.
$100 per week came to $1.19 per meal per person.
To stick with a budget like that requires meticulous planning of each meal and snack and everyone in the family has to stick with the plan.
Buy enough food to cover all the meals for the week -- returning to the store later might lead to overspending on impulse buys.
Instead of steak, buy lean stew meat and cook it in stew or soup. The crockpot works wonders.
Add three bean-based meals each week.
In terms of meat, consider canned: salmon, clams, tuna, and chicken are great in casseroles, wraps, and pasta and rice.
Stockpile stuff when you see a sale.
Cheap and healthy snacks: raisins, popcorn (cooked on the stove, not the microwave), carrot sticks, pretzels, cheese, and bananas.
Check the article to see the results of their weeklong experiment.
Tuesday, July 22, 2008
staycations!
Molly says:
This article has a nice little round-up on travel deals here at home. I have my eye on at least two of them.
This article has a nice little round-up on travel deals here at home. I have my eye on at least two of them.
Monday, July 21, 2008
What to Do
Angie says:
Anchorage:
Wednesday:
Peter Cooper and Eric Brace in concert Free.
Sixteen noted authors to give nine evenings of free readings
Friday
Music in the Park: The Derry Aires- Free. I love this group
Saturday:
Saturday Cultural Series: cultural dancers, Schultz & Hammer with Mz. Lona Free.
Potter Marsh Grand Opening Free.
Dingy Sailboat Regatta Free.
Soldotna:
The fourth weekend in July, Soldotna celebrates its biggest event of the year - Progress Days. The main event is a parade with more than 100 participants. Other activities include art & crafts booths, car races, a rodeo, community barbecues and much more.
Free.
Homer:
June thru August –
Pratt Pods Art & Science programs, Tuesdays & Thursdays 1:00 pm at the Pratt Museum, 235-8635
The Object at Hand Mondays and Fridays 3:00 pm - 4:00 pm at the Pratt Museum. Meet with a Museum docent and take an even closer look at some of the unique objects in collections storage, 235-8635
Creatures of the Dock Tours Tuesday through Saturday. Center for Alaska Coastal Studies yurt on the Homer Spit, 235-6667
Weekly Children's Programs at Wynn Nature Center 235-6667 Pre-schoolers, Bio-kids (ages 5-10), Wynners Wilderness Survival (ages 7-10), and Wynners Passport Program (ages 8-12)
Alaska Wildlife Ranger-Led Talks & Walks Wednesdays and Fridays, 11:00 am - 12:00 pm at Alaska Islands and Ocean Visitor Center, 235-6961
Wildlife & Birding Hotspots Sundays & Mondays, 1:00 pm - 2:00 pm at Alaska Islands & Ocean Visitor Center, 235-6961
Beachwalks Tuesdays, Thursdays & Saturdays, 11:00 am - 12:00 pm at Alaska Islands & Ocean Visitor Center, 235-6961
Estuary Hikes Tuesdays & Thursdays, 1:00 pm - 2:00 pm at Alaska Islands & Ocean Visitor Center, 235-6961
Discovery Labs Wednesdays, Fridays & Saturdays, 1:00 pm - 3:00 pm at Alaska Islands & Ocean Visitor Center, 235-6961
Historical Harbor Walking Tours - Days and times TBD
Anchorage:
Wednesday:
Peter Cooper and Eric Brace in concert Free.
Sixteen noted authors to give nine evenings of free readings
Friday
Music in the Park: The Derry Aires- Free. I love this group
Saturday:
Saturday Cultural Series: cultural dancers, Schultz & Hammer with Mz. Lona Free.
Potter Marsh Grand Opening Free.
Dingy Sailboat Regatta Free.
Soldotna:
The fourth weekend in July, Soldotna celebrates its biggest event of the year - Progress Days. The main event is a parade with more than 100 participants. Other activities include art & crafts booths, car races, a rodeo, community barbecues and much more.
Free.
Homer:
June thru August –
Pratt Pods Art & Science programs, Tuesdays & Thursdays 1:00 pm at the Pratt Museum, 235-8635
The Object at Hand Mondays and Fridays 3:00 pm - 4:00 pm at the Pratt Museum. Meet with a Museum docent and take an even closer look at some of the unique objects in collections storage, 235-8635
Creatures of the Dock Tours Tuesday through Saturday. Center for Alaska Coastal Studies yurt on the Homer Spit, 235-6667
Weekly Children's Programs at Wynn Nature Center 235-6667 Pre-schoolers, Bio-kids (ages 5-10), Wynners Wilderness Survival (ages 7-10), and Wynners Passport Program (ages 8-12)
Alaska Wildlife Ranger-Led Talks & Walks Wednesdays and Fridays, 11:00 am - 12:00 pm at Alaska Islands and Ocean Visitor Center, 235-6961
Wildlife & Birding Hotspots Sundays & Mondays, 1:00 pm - 2:00 pm at Alaska Islands & Ocean Visitor Center, 235-6961
Beachwalks Tuesdays, Thursdays & Saturdays, 11:00 am - 12:00 pm at Alaska Islands & Ocean Visitor Center, 235-6961
Estuary Hikes Tuesdays & Thursdays, 1:00 pm - 2:00 pm at Alaska Islands & Ocean Visitor Center, 235-6961
Discovery Labs Wednesdays, Fridays & Saturdays, 1:00 pm - 3:00 pm at Alaska Islands & Ocean Visitor Center, 235-6961
Historical Harbor Walking Tours - Days and times TBD
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