The Frugal Files: The Real Scary Stuff!! Happy Halloween!!

Happy Halloween frugal folks!!

Today is one of those fun holidays where people celebrate with parties and candy, as well as take part in festive outlets such as parties, dressing up in costumes and scaring little kids. I’m sure you’ve been blasted with ideas and images on how to make this year’s Halloween event more creative, frugal or not. During this time, most people find ghosts, goblins and witches scary, but today we’re going to talk about what scares adults or should scare them…into taking care of their financial business.

First, let’s talk about GHOSTS, also known as DEBT!! Debt is something that people have that often lurks around because we get caught up in life and forget about it. Of course, we know what our immediate debt is: house and car notes, credit cards, school loans. However, do you pull your credit report yearly to make sure you didn’t leave something in the past? If you don’t address it, like a ghost, it will haunt you and show up and scare you when you want to do something with your life. When you go to buy a house, it’s there. When you want to be considered for a business loan, there it is.

So, how do you eliminate ghosts? Find their source and close the case, making it comfortable enough to move on to the next life, which for us is called PAID OFF. Pay your old debts off and send a letter to the credit bureaus with the proof that you have done so. Then move on to your next phase of life, debt free!!

Second, let’s address some GHOULS and GOBLINS, which are sometimes little and annoying but have the potential to consume us or our money if we don’t address them right now. It’s getting cold now and Winter is not far away. It’s time to get prepared for it. My heart goes out to all those affected by Hurricane Sandy. If you can, join me in sending aid to those in need. I’ll be looking for items to send them.

Start winterizing your home. Put in your storm windows, clean out your gutters, rake up the leaves and trim back the trees to minimize damage from the snow. Get your salt, shovels and snow blowers ready to take care of your yard and help out a neighbor too. Put plastic over the windows to keep out air that might seep in older windows. Stock up on food, especially those that will warm you up: soups, stews and cocoa. Plan for inside activities, so no one is bored enough to want to go out for outings. It will be safer to be inside on some days.

Get your car ready too. Its care will make the difference when going through the winter months. Get your tune up, new tires and make sure your heat is in proper working condition. Keep an emergency kit in your car that includes flares, blankets, a first aid kit and some non-perishable food and water. Carry around your pet’s food or sand to help with traction after it’s snowed. That will help you move through the snow. At all times, be cautious and careful while driving. Pay attention to the road and keep your phone put away.

Last, let’s talk WITCHES and ZOMBIES, which for the sake of this conversation is about insurance and wills/trusts. Both are topics people shy away from addressing because no one really wants to talk about death and illness. Unfortunately, that is part of life and people do get sick and pass away. The key is to celebrate life while we’re here and to let our loved ones continue to celebrate even when we’re gone. They can’t do that if they are worrying about how to bury loved ones; how to pay for bills left by loved ones or how to divide up an estate because that loved one didn’t take time to prepare before leaving this earth. No one wants the witch, called probate court, to decide where your family’s property and belongings will go.

Talk candidly to your family about preparing for the future. Make sure you have ample coverage in case of an emergency. Contact a professional and put your requests in writing. It’s the only way to secure your future and the future of those after you. Let’s take care of our business and cast out those financial demons that threaten us and our families!! This is my candy for you. Trick or Treat!! Happy Halloween!!

Frugalicious Diva

Follow Me on Twitter at @FrugaliciousDva

The Frugal Files: Spring is the Time to Grow Your Green

Hello there frugal folks!!

Welcome back to The Frugal Files!! I hope you enjoyed our Flip Flop week and that you took notes on Marcy’s tutorial on navigating CVS, Rite Aid and Walgreens. I am especially grateful to Marcy for sharing her expertise. With me being fairly new in the coupon game, they were the stores that intimidated me the most. I just didn’t know how to shop in those places for the best price. Now, I’m much more comfortable and I hope you are too.

It is now April and Spring is here; one of my favorite seasons of the year. The sun is out, so we’re leaving winter and debt behind. As the saying goes…April Showers bring May flowers. I love flowers because they are beautiful, but also because of what they represent: GROWTH. Just as seasons change on the earth, it is mirrored in our bank accounts. As we continue to chat about Savings, Debt and Decluttering, it is only right that we now clear that space as the new ground is ready for planting and growth!!

We talked about basic savings and that should continue always. Now where can your money go from here? My first piece of advice is to seek out and hire a Financial Advisor. It doesn’t matter how much money you have because if you have the vision I know you do, you know that what you see is not where you will always be financially.

Ask for referrals and get started on your search. At your first meeting, listen to what they can offer, but bring your own questions. Ask them to help you calculate your current Net Worth, then allow them to help you write down some of your financial goals, both short and long term. It could be saving for a home, your children’s college fund, a mutual fund or other investments. Not sure which investments are best for you? Ask them about that too!! The more questions you ask, the closer you are to growing your own personal financial portfolio.

While you are securing your advisor, do some of your own financial gardening. There are some moves you can make without an advisor. For instance, you can commit to raising the amount of your Automatic Savings draft; the money you are saving regularly and automatically. Purpose to put more aside. If you want to step it up a notch though, ask your advisor about mutual funds. Open one and begin putting money there. It’s like a savings account, but it’s set up to be long term for you and can include low risk bonds and high-risk stocks. You can choose your own risk level. The long-term benefit of this type of fund is GROWTH!!

Another way to grow money is to get it from someone else. I know they say nothing in life is free, but I don’t think they have been exposed to it. If your employer offers a 401k/403b AND matches your investment, you have just proved those people wrong!! It is free money and you should take full advantage. If they will match up to 6% of your check, then you should be saving 6% of your check in your 401k fund. The amount you save is before taxes, so that means there are less taxes being taken out of your paycheck. This is an awesome long-term tool for retirement. If you really want to live well in your retirement, then start saving now. The greatest part is…the money grows as you grow older.

Just like you need a new wardrobe for the new season, you also need a refreshing look at your money. It is great to save it, but if your goal is true wealth, then it’s time to financially grow up. The season has changed and it is time you do the same. If you want to change the way you think about money, then you need to change what you say about money. Instead of thinking of stagnant saving, speak and act toward abundance and GROWTH. I have a financial affirmation for you that will do just that:

I Give Thanks For All My Prosperity that is Rapidly Multiplying!!

Frugalicious Diva