The Frugal Files: Respect Your Money; It'll Reciprocate!!

Welcome back to the Frugal Files!!

We're spring cleaning around here; learning how to tend to our money so, like the flowers in the springtime, it will grow and flourish. I know we see cliches and clever sayings all the time about "getting our money right", "taking care of our money" and "letting our money work for us", but if you apply a few simple principles those things really can come to fruition.

If we truly want to obtain wealth, we have to look at it different than we have in the past. Really, if you're not where you want to be financially, how well are those current thought patterns working for you? I'll wait...

Okay, well then, let's chat!! Years ago, I remember watching a video from one of my favorite money gurus, Suze Orman. It was an older video with late 80s/early 90s hair and dresses, but the advice I took away from that video was not only timeless, it was priceless (literally, it was a library video; just had to add my frugal spin)!! That advice seriously changed my life and my mind about money and it's relation to my life. Since then, I've been on a path to RESPECTING MY MONEY!!

Having respect for money can be determined any way you like because it is exactly how it sounds. Respect it like you would a person you love. That may sound crazy to some, but if you've practiced this, then you know it's not crazy at all; it's imperative to your money life. It's the Law of Attraction and whether you are versed in it or not, you live it out every day of your life regarding yourself, your family, your career, your own happiness and of course your financial existence. Whatever you are feeling about your money, it will react to you based on those feelings.

Want to foster a good, positive relationship with yours? Then take heed to the following advice:

1) Expect to have it. This is self-explanatory. Simply EXPECT to have money; in your pockets, your wallets, your bank accounts, etc. Develop the feeling of what it's like to have the amount of money you desire. Instead of complaining about "all these bills", envision money constantly coming to you. Things may not go your way all the time, but does that mean you should expect bad things? Try changing your mind and expecting the good. Wake up and face the day with gratitude for what you do have, then the good will begin and continue to flow.

Here's an easy affirmation you can use several times daily:
"Money comes easily and frequently." Say it, believe, expect it!!

2) Speak good to it and of it. Speaking of affirmations, adopting them into your fiscal life will prove to be profitable...literally. Even before I really starting using them, there were signs that I should watch what I say about myself and of course my money. This is one quote I found and it resonated in me so heavily, I had to take it seriously. It is by Brian Tracy, a self-help author and motivational speaker.
"Never say anything about yourself you do not want to come true".

These word truly motivated me to change my words, so I gave my vocabulary an upgrade, especially when it came to my finances. I removed words of lack like "broke" and "poor" along with the "I ain't got it" mentality. I replaced them with positive affirmations and a wealthy living mindset. Adding "prosperity" and "abundance" proved to give me a lift in spirits and it showed in my wallet.

3) Physically treat it well. Take a look in your wallet or wherever you keep your money. How does it look? Do you have bills all over the place? Crumpled and torn? What about your checkbook; is it balanced? Do you know how much you have available at any given time?

If your money is out of order, take a look at your life. Is it out of order too? Chances are, it is. If your money is wayward, so is your life. When you take time to learn about it, neatly put it in your wallet, balance your checkbook and review your bank account, life will follow suit and be easier. If you are not where you want to be financially, organizing your money is the way to begin the wealth journey. Order allows you to address issues directly instead of being forever bogged down with searching for this receipt or trying to recall where you put that $20.00 you had earlier.

Learn to respect your money and your money really will respect you back; growing to it's fullest potential. Since we're getting organized, you will be in position to address next week's topic: credit reports. Again, we are getting finances in order this spring. We will see the growth and the fiscal bloom before you know it. See you next week.

Frugalicious Diva

Money Matters: The Budget Belle

I don't know about you, ladies & gents, but this time of the year is always one where I want to try and get more fit. Financially fit, that is. A few months ago, we told you about mint.com, a website where you can track all over your saving and spending.With just a few clicks (and complete trust in giving a third party your account information) Mint.com helps you see how much you are spending, how much you are saving (or not), and your current estimated net worth (which was personally all I needed to see to say, yeah, it's time to get serious about saving some funds).

Money Matters: The Frugal Thanksgiving

The Frugal Thanksgiving - 5 Ways to Save
By Jamie Jefferson

With all the food preparations and travel arrangements, Thanksgiving isn't cheap. Save some money on this year's festivities with the help of the following tips.

1. Watch the turkey sales.
Because the turkey is the most expensive part of the Thanksgiving meal, it makes sense to try to save money on it. Starting around Halloween, start keeping an eye on the price of turkey at your local supermarket so you know when to buy. Watch for sales, coupons or special free gifts from your supermarket. Some stores even offer a free turkey with a certain amount of groceries purchased on one trip. Take advantage of these deals to get your costs under $2 per pound.

2. Carefully weigh made-from-scratch foods against convenience foods.
It's a well-known fact that most convenience foods (canned, pre-packaged foods) are more expensive than foods that you can make from scratch. The biggest problem most people have with making dishes from scratch is the recipes and the prep time. Fortunately, there are hundreds of resources online that can teach you everything from making perfect mashed potatoes to making your own cranberry sauce. You can also make several items ahead of time, such as green bean casserole, and heat them up on the big day.

3. Decide on one "splurge" item.
If you're making everything from scratch, you might be too tired to enjoy the meal. Do yourself a favor and look for a good deal on an important store bought item, besides the turkey. Pie, cranberry sauce or stuffing are all good choices to help relieve some of the pressure off the cooking without breaking the bank.

4. Have everyone pitch in.
Just because you're hosting Thanksgiving dinner doesn't mean that you have to be responsible for the entire cost of the meal. Having a Thanksgiving potluck is very customary these days. Assign each person or family group something to bring and then concentrate your energy and your budget on the turkey.

5. Don't forget the train or bus line.
If you're traveling a distance to see family for Thanksgiving, driving may not be your best option. With gas prices still hovering around $3/gallon, you may be able to find a better deal on the train or bus line. Calculate how many miles are between your home and your destination. Then figure out how many miles to the gallon your car gets, and how much the price of gas is per gallon. Compare this figure to the local bus or train line to see if you can get a good deal with public transportation. As an added benefit, you'll have time to relax on you trip instead of fighting with traffic.

With planning, a new perspective and some research, you can spend a lot less this Thanksgiving. Look into cooking items from scratch and plan your travel expenses wisely to save the most money.

Jamie Jefferson writes for Momscape.com and Susies-Coupons.com where you'll find wine discounts and coupons, as well as free printable grocery coupons.

Article Source: EzineArticles.com

The Frugal Files: Mint.com

We have seen and heard the stories on the news: unemployment rates are at an all time high in the US, the cost of every day living is steadily increasing, while the amount of money that is in our pockets is steadily decreasing. These times call for using the money that we do have in smart, effective ways.

The Frugal Files is a new column for Belle-Noir that will be featured both here and on our new radio show in February. We know that times are hard for everyone-us included. So when we find some great advice on money matters, be it a place to find coupons for the grocery store, a free e-book that you can download, or a website that has great tips on how to make your budget work, we will share it here.

Speaking of personal budgets, we highly recommend you sign up for the free money management & budgeting software over at mint.com. Mint allows you to track your spending and saving across all of your accounts, be it your bank account ("I took how much out of the ATM last month???") your credit cards ("I used my credit card to purchase how many lattes at Starbucks?"), even your 401K and IRAs. It also will help keep you on your set budget by sending you alerts via email or cell phone (note to the iPhone users: Mint has its own iPhone app) when you have spent past your allotted amount.

Now, mint.com can't come and cut up your credit cards and lock your debit card away where you can't spend to your hearts content. But by tracking all of your spending in one place, it will allow you to see where you spend the most and how you can save.

Did we mention that registration is free? If saving money was one of your resolutions for 2009, do more than that by signing up for mint.com today.

Living It Up Tuesday: Speedlinks

Here are this week's speedlinks! Please let us know what you think by utilizing our new Reaction buttons or by leaving a comment!

Good Food

• What To Feed Your Guests Over the Holidays [Everyday Food]
• Group Cooking: Love It or Hate It? [Epicurious]
• Drinks To Sink Your Teeth Into [NyTimes.com]
• 5 Steps To Planning Thankisgiving Dinner [Real Simple]

Money Matters

• A D-I-Y Christmas: 34 Gifts You Can Make Yourself [Get Rich Slowly]
• 7 Savvy Ways To Be A Financial Asset In Your Relationship [Girls Just Wanna Have Funds]
• 7 Steps To Saving Money On Black Friday [Money Crashers]

Money Matters: Cut Your Spending by $500 Per Month

The Consumer Reports Money Lab shakes loose a bushel of savings hiding in everyday spending.

Find Cheaper Auto Insurance
Average Savings: $65
Annual surveys of Consumer Reports readers have shown that many have stayed with the same auto insurer for 15 years. Depending on your profile and where you live, you might be able to save hundreds a month by shopping around. (In all the categories listed, the monthly savings shown are Money Lab estimates based on what average consumers spend. Your actual savings will depend on your circumstances.)

For example, a married couple without violations or accidents but with a driving-age son in Los Angeles can save $380 per month on standard coverage by switching to a lower-cost auto insurer, according to data compiled by the California Department of Insurance. But a retired couple with no violations in Fargo, N.D., can expect to save only about $30 per month by switching insurers.

How to Do It
Start at the Web site of the National Association of Insurance Commissioners, and click on NAIC States & Jurisdictions to find your state's insurance department. Most provide comparative premium quotes based on standard customer profiles. If your state doesn't, you can get quotes from insurers by phone or over the Internet. You can also compare premiums from multiple carriers by using independent Web sites, such as Insweb, Insurance.com, and Insure.com.

Optimize Your Life Insurance
Average Savings: $110
Life-insurance premiums have dropped so dramatically since the 1990s, it will probably pay for you to replace a policy bought years ago with a comparable one. A $500,000, 20-year guaranteed level term policy from Prudential, for example, would have cost a healthy, nonsmoking, 50-year-old man about $2,125 a year in 1998, according to Accuquote.com. Today the same guy, now 60, could pay Prudential $1,385 a year for the same coverage over the next 10 years. Savings: $60 per month.

Another option at any age: Adopt a healthier lifestyle and get re-rated for a lower premium. For example, a 40-year-old man with a $1 million, 20-year term policy could save $50 a month by cutting his cholesterol by 30 points; $65 a month if he dropped 50 pounds to reach normal weight; and $165 a month three years after he quit smoking.

How to Do It
Get a physical checkup and follow your doctor's advice for shaping up before applying for a new policy. You can get premium quotes at LifeInsure.com. Don't cancel your existing policy until you have a new one already in place.

Shop Smart for Food
Average savings: $200
Making different choices in the supermarket and when eating out can net monthly savings ranging from $130 to $255. The average family of four can chop its grocery bill by $190 a month by shifting to a lower-cost mix of foods, according to data from the Department of Agriculture. The agency monitors prices of four nutritionally balanced grocery baskets at different cost levels: liberal, moderate-cost, low-cost, and thrifty. The liberal basket contains more food per month than the moderate-cost one, a greater proportion of pricier food like beef and fish, and more wasted leftovers.

In 2006 American families spent 44 percent of their food budget eating out. By cutting restaurant spending in half, you can save another $30 to $60 per month.

How to Do It
Plan menus around sales on fresh poultry, fish, meat, dairy, and produce, and make use of leftovers. Avoid costly prepared meals. Eat more low-priced, high-nutrition foods such as beans and potatoes, says Andrea Carlson, a USDA economist. Shop in lower-cost stores such as Aldi Foods, PriceRite, Costco, Trader Joe's, Wal-Mart, and Sam's Club, but be sure to compare prices. Try less-expensive store brands. Sign up for store discount cards. Stock up on sale-priced staples.

When eating out, take advantage of prix-fixe meals and off-hour discounts. Eat half of the big portions in vogue today at the restaurant and take the rest home for a next-day encore.

Stop Paying Bank Fees
Average savings: $25
The American Bankers Association says 52 percent of consumers spend nothing on bank fees each month. But somebody's paying fees, and lots of them, because the Federal Deposit Insurance Corp. says banks collected $39 billion in account fees and penalties last year. That works out to an average of $28 per month per household. But with some planning, you can pay zero.

How to Do It
Bank at a large institution with lots of ATMs in convenient locations to avoid the cost of using other banks' machines—as much as $4 per withdrawal. And use the no-fee cash-back option at supermarkets.

[ more ]

Source: Yahoo! Finance

Money Matters: Is Your Money Leaking?

Is Your Money Leaking?
By Diane Palmer

Does your budget have leaks?.. or would you rather not think about it.

Most people don't realize how much money actually slips through their fingers in an average week. We are all working hard, trying to get somewhere and make a nice life, and in doing so, we don't pay much attention to the nickels, dimes, quarters and more that are slipping through our hands every day.

You know the scenario, you basically get out of bed running before your feet hit the floor, and the change you plop down on the counter for that coffee you need to keep you going, doesn't seem that big a price to pay, nor the vending machine in the afternoon at work, because you are tired, nor does the takeout pizza on the way home since you are too tired to make dinner. But it DOES matter.

Stop, for a few minutes and actually think about it. I am not suggesting that your life should consist of work and sleep and no fun, but if you could save even just a few dollars during the week, you would have that much more for the fun stuff on the weekends or weeknights, and even save some along the way.

A friend of mine told me, that she barely had enough money for her car payment, and yet she made good money. Other people in her pay range were doing not too bad, and yet she was having trouble. She figured she would turn her heat way down, and eat less food in order to save money. But in reality, she was a hard working woman, who put in many hours and just didn't pay attention to the money she was spending in order to do those long days at work.

We actually sat down, and went through her average week day, and found that she stopped for a latte and natural muffin on the way to work. Cost $3.50. At lunch she visited the deli with other co-workers and spent $10.00 dollars on a vegetarian lunch. In the afternoon, she felt the slump, and would get a coffee and a chocolate bar from the vending machine, cost $4.00. On the way home, she always picked up the latest rag magazines (which she never had time to read, it was just habit) at a cost of $5.00.

So, in the course of one day, she was spending $22.50! In five days, that is $112.50! Times that by four, and there was her car payment. I could see her eyes widening every time we added a new expense. She just didn't realize, her head was elsewhere and these were habits. She pulled money out of the cash machines and spent it.

Now, she gets up a bit early, puts on a pot of coffee, makes her lunch and snacks, but still buys her rag magazines, as this is a treat she really wants. She still saves a lot of money. I am not suggesting we all spend our cash like that. But really look at your daily habits and the spending, and see if you can cut something and you will be in control, and plugging the leaks in your budget, so it can be used for more fun stuff!
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Please visit www.budgetsthatdonthurt.weebly.com for more great tips on saving money the easy way, and get in control of your money.

Article Source: Ezinearticles.com

Money Matters: Ways to Make Savings A Habit

Ways to Make Saving a Habit
by Andrea Coombes

What's your excuse? When it comes to the sorry state of our finances, we've all got one.

Maybe your raise at work never materialized, or you charged that unexpected car-repair bill -- or that plasma TV -- to your credit card. Whatever the reason, for many of us, personal balance sheets could look better. Half of U.S. workers report less than $25,000 in savings.


Even if you've saved more, is it enough to sustain you through a decades-long retirement?

Sure, plenty of consumers now are easing back on spending, thanks to sticker shock at the grocery store and gas station. But soon enough retailers and restaurants will be pushing hard-to-resist "recession deals" -- will you be able to restrain yourself? And, what happens to your budget-minded ways when the economy recovers?

It's time to shake off the "consumer" mantle that politicians and economists are so happy to drape around our shoulders. Resist their calls for consumers to save the economy, and resist the advertisements enveloping us in the idea that we need more and more things.

The only thing most of us need more of is financial security. A lot more.

How to get there? Think thrift. For some, it's a familiar idea. For others, thrift implies denial and deprivation, and that makes for a tough call-to-arms.

So, how to save money without scrimping, be thrifty without feeling miserly -- and maintain those habits after our economy picks up speed?

It won't be easy. Expect discomfort, says Kathleen Gurney, a psychologist and chief executive of Financial Psychology Corp. Keep going, even when it's uncomfortable -- the rewards are worth it, and once this economic slowdown ends, you'll have financial habits in place to support you for a lifetime.

1. Spend less time feeling poor. Flipping through catalogs and going to the mall will make you feel like you need things, Ms. Gurney notes. Sure, you can afford some of that stuff, but the main message is: Most of this is out of your reach. Instead, do things that offer a sense of well-being. Invite friends over. Walk in the park.

2. Retrain your brain. Depriving ourselves of current pleasure is nigh impossible if we're not driven by a sense that the future will be more fulfilling, says Ms. Gurney. When you start to feel that "I'm deserving so I'm buying" feeling, visualize a smaller credit-card bill or higher savings-account balance.

3. Look around you. Are you happy with what your hard-earned dollars bought? If not, shift your spending to those things that bring greater long-term satisfaction, including retirement savings.

4. Choose your extravagances. Here's mine: I eat out about once a week. An extravagance I do without: Cable television.

5. Assess weaknesses. "If you were thrifty, how would you look different?" says Gary Buffone, a financial psychologist in Jacksonville, Fla. Identify what you want to change; then shoot for specific targets, such as a six-month hold on buying new tech gadgets.

6. Make trade-offs. Substitute small, free pleasures for those that cost. Have a movie night at home with friends -- you'd be surprised how many people are equally eager to cut costs.

7. Set goals. Meet weekly with family to discuss the spending plan (don't call it a budget) for the months and years ahead. This may involve tough choices, such as forsaking a family vacation. But think of the guilt-free trip you can take after saving the necessary cash. Good memories last longer, Ms. Gurney notes, when not trammeled by large credit-card bills.

8. Resist your children. They're going to find it hard to change their expectations. How can you help? Stand firm. The next time they clamor for the latest videogame, remind them of the bigger prize (that family vacation), and tell them their choices here and now are, say, a picnic or a movie rental. Offer options, but don't give in to their push for more consumer goods.

9. Enlist other people. Many people are reticent to talk about money worries, but almost everyone has them, so open up and tap your allies. Hold a contest with friends to see who can save the most in a month, or agree with your spouse to talk before spending more than $100, Mr. Buffone suggests.

10. Post it. Remind yourself by putting post-it notes on your wallet, mirror or steering wheel with the mantra of your choosing: "I want to go to Hawaii in January." "I want to pay off credit-card debt."

11. Automate it. Divert money monthly from your checking account to savings. It will force you to budget, based on what's left in your checking account.

12. Rethink rewards. What are some of your happiest memories? Those are the true rewards. Next time you're about to buy something because you deserve it, ask yourself whether there isn't something you deserve more, such as time at home cooking with your teenager, or a stroll with your husband or best friend.

"We've been conditioned to think that spending the money on clothes, at a restaurant, is going to be the reward," Ms. Gurney says. "But what is the ultimate reward that we want from working hard, in the end?"

Source: Wall Street Journal

Money Matters: 5 Tax Rebate Check Tips

Five Tips to Help Your Tax Rebate Check Go Further When it Comes
By Roy Primm

In few weeks millions of U.S taxpayers will find tax rebate checks in their mail boxes. Including you, if you earned under $75,000 last year. So, will you blow your rebate check ... or will you increase it?

In an attempt to stimulate the economy, Congress approved an economic stimulus package designed to jump start the economy. If you're single and earned under $75,000 or married and earned under $150,000 as a couple you're eligible.

Your rebate check will go out in May or June according to initial estimates. Congress and President Bush agreed on the amount and who will qualify. These are the terms they agreed on.

- $1200 maximum per family.

- Most individuals will receive around $600 ($1200 per married couple).

- And another $300 per child.

Although the main reason the stimulus package flew through congress and signed quickly by the President in record time is simple. They want you to immediately spend it on more consumer goods. This in turn will stimulate the economy and avoid or shorten a recession.

But many financial advisers see this as a bad idea for most families, especially in this financial climate.

More financial advisers suggest saving it for a rainy day or using it to pay down debt you've already accumulated. For example, credit cards, auto loans and student loans. Which according to the latest report by The Federal Reserve board has doubled in the past 10 years.

As consumer debt increases, salaries continue to stagnate or even decrease as more high paying jobs slowly move overseas. So if you're planning to buy that flat screen television, stereo or other depreciable item think twice.

1. Save it.
According to the Los Angeles Times the savings rates of Americans have been falling for the last 10 years. In fact, the levels has dropped to the same levels as during the Great Depression.

Those who can manage to save the most in the coming year will have the most advantages. In the coming years it won't be how much you have or earn but how much you can save that will count the most. So use this check as an opportunity to start a savings habit if you can.

2. Kill a Bill.
Another wise move to make with your rebate check is to kill a bill. credit card companies will slowly raise rates, fees and pass other cost on to consumers. Why? To make up for losses caused by the mortgage meltdown.

So, the more you can pay down - or better yet, pay off your credit cards the less vulnerable you'll be to rate, cost and fee increases of credit card companies.

3. Retire it Toward Your Retirement.
If you have a 401K plan, IRA or Roth IRA consider investing it and enjoy the tax free growth.

4. Invest in Yourself.
With many jobs getting downsized, phased out or moving overseas this could be your opportunity to invest in another job skill.

5. Start Another Income Stream
Another smart way to use your rebate is to start a home based business. Don't laugh, every 10.4 seconds someone in the U.S starts a home based business.

The key is to do your research - first! Use the internet and your local library both free - before spending any money.

The second tip is find something you like to do and you'll be on your way. You can do it. Millions like you do it everyday. You have a home, why not make it pay for itself for a change?

Note: There are hundreds of home based businesses that you start for under $500. Focus on the ones that fit with your personality, hobbies, and likes. Avoid the get rich quick schemes. Focus on the businesses that stress good customer service and value.

Starting or expanding your home based business is an excellent choice because you're not taxed on you rebate check. In addition, if you spend it on a business it's 100% tax deductible. This give you a double benefit.

Conclusion
It's my hope that you use this coming rebate check and this message - to continue looking for ways to spend wisely so you can save more in 2008. By Using these tips you won't blow your next check - but instead you'll increase it!

During the depression a reporter asked John D. Rockefeller how to grow richer in hard times. At the time John D. Rockefeller went from grinding poverty to one of the richest men on earth. His quick reply? "It's not how much you have - but how much you save that makes you richer".

Roy Primm Founder and Publisher of BlackHomeOwnerNews.com the largest source of information for black homeowners. Get free ebook 99 Ways To Live Better On Less Money at ShoppersCoach.com

Article Source: EzineArticles.com

Money Matters:: A Man Is Not A Finacial Plan

A Man is Not a Financial Plan
By Steve Hood

Do not rely on the man in your life, or the future man, to provide your financial security.With the deck stacked against you in so many ways, you must form your own plan. For the litany of challenges you face, look at what the statistics say.

*On average women earn 25% less than men.
*Women have smaller pensions and social security benefits.
*Women, on average, live 10 to 15 years longer than men.
*Almost 1 in 4 women is broke within two months of her husband’s death.
*The average age of widowhood is 56.
*Over 75% of women are eventually widowed.
*87% of the adults living in poverty are women.
***At some point in their lives 90% of women will be in charge of their own finances.

Now isn't that enough to make you sit up and take notice? All is not lost however. Now for the good news, again, based on a number of studies.

[m o r e ]