My post 4 Ways to Flog the Inner Impulse Shopper is up in Free Money Finance’s March Money Madness tournament. Please take a moment to vote for me(Flog).
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Disclosure
I’m not terribly commercial, but I do enjoy making money.
As such, it is safe to assume that any company, entity, corporation, person, place, thing, or other that has a product, service, post, or link has in some way compensated me for said product, service, post or link. That compensation–direct or indirect–may be in the form of money, swag, free trips, gold bullion, smurf collectibles, super-models, or just warm-fuzzies. That list is NOT in order of preferred method of compensation.
To reiterate: If it’s commercial, and it’s here, I’m probably being paid for it.
Saturday Roundup: Evil Dead
- Image via Wikipedia
Last night, my wife and I went to see Evil Dead: The Musical. I’m a die-hard zombie-movie fan, and the Evil Dead Trilogy is among my favorites. I don’t recognize a difference between Candarian demons and zombies, so it still fits the genre.
The musical beats either of the first two movies, hands down. I was rolling. If you are in the Minneapolis area tomorrow, check it out at the Illusion Theater. If you are elsewhere, watch for it. It’s entirely worth the time and money.
Best Posts:
Sometimes, shopping can save you money, but don’t let it get out of hand.
I’ve never had food poisoning, but my wife has. It was unpleasant.
Bacon soda. Yum. No further comment.
Bad marketers. No donut.
Carnivals I’ve been in:
AAA – Save Some Cash was included in the Festival of Frugality.
The Spending Styles of the Rocky Horror Picture Show was included in the Carnival of Personal Finance.
Crack was included in Foodtastic Favorites.
If I missed anyone, please let me know. Thanks for including me!
Budgeting tips – sticking to your budget
If you are looking to get out of debt, or you are currently debt-free and want to stay that way, then it is important that you get a grip of your financial situation and live within your means.
A good way to do this is to create a budget as this gives you a clear indication of how much money is coming in, how much is going out and also highlights any areas where you may need to make cut backs should you be falling short each month.
Once you have sorted out the figures and made necessary amendments, for example paying bills by direct debit in order to make savings or cutting existing debts by carrying out a balance transfer to a lower rate credit card, it is time to start focussing on the lifestyle changes.
As you will find, it is one thing to create a budget and quite another to stick to it, but by adhering to the following steps and exercising a certain amount of will power, you should be able to ensure that you live within your means and resist the urge to reach for that credit card.
Keep focussed
Before you start to look at how you can stick to your budget you need to clarify why you need to stick to your budget!
A budget can initially seem like something that has been devised with the sole intention of stopping you having fun and buying or doing the things that you want. So it is important to remember that, though some cutbacks may be necessary in the short term, a budget is a long-term strategy that will allow you to take control of your finances and, all being well, live a happy life that is free from the worry of excessive debt.
Change your habits
Unfortunately, a successful budget can require a change in lifestyle and this can be one of the most difficult things to adhere to.
For example, if you have previously enjoyed eating out regularly then you may have to make cut backs in this area to ensure that you are living within your means. But, instead of seeing this as a negative, try to focus on the positives and remember the reasons why you are budgeting.
And a change in habits doesn’t necessarily mean that you have to cut back on your enjoyment of life and it may actually open your eyes to other pursuits you may not have previously considered.
For example, instead of eating out try preparing a meal at home and turn your dining room into a restaurant. This means that you can still have the fine dining experience but at a fraction of the price and without the worry of making a reservation!
Shop smarter
Lists figure heavily when creating a personal budget and list-making is a habit that you should get used to when trying to stick to your budget.
When budgeting it is vitally important to avoid impulse buying and a great way to do this is to always make a list of things you need before you go shopping.
This means that you will have a clear idea of what you need and you will be less inclined to make random purchases that may just turn out to be an unnecessary drain on your finances. It’s also worth mentioning at this point that you should always differentiate and prioritise the things you need over the things you simply want.
If you are unsure how to make the distinction then put off making the purchase for a couple of days and then reconsider if you actually need it. This cooling off period will often convince you that you can do without it and save you money.
In addition, savings can be made on your shopping by simply swapping big name brands for supermarket own varieties, using discount coupons and looking for any special offers.
Overall, it is important to be fully focussed and committed to your budget plan and to be aware that a change in finances may require a change in lifestyle. But a few short term changes may well add up to better finances in the long term.
Article written by Les Roberts, budget reporter at Moneysupermarket.com.
Funeral Costs: How to Keep it Inexpensive, Without Being Cheap
The average funeral costs $6500. Many people die with absolutely no savings. Even if there is life insurance, it takes weeks to get the money, while a funeral is completed within a week.
Funeral homes have an easy sales pitch. Nobody wants to sully the memory of their loved ones. The tiniest hint of a guilt trip will have most families upgrading to the silk pillow in a second. Here’s a secret: Your loved one doesn’t care. I’m not recommending using garbage bags and a dumpster. By all means, treat your loved ones with care, but don’t go overboard.
Not everyone is comfortable with cremation, and some religions don’t permit it, but it is probably the least expensive way to process a body. It costs approximately $1400 to cremate a body and you can get very attractive urns for under $100. Compare that to a $3500 casket and storage & transportation fees, and–from a strictly monetary standpoint–the choice is clear.
Don’t worry too much about decorating. Flowers aren’t cheap and florists don’t tend to offer discounts to people who aren’t emotionally prepared to negotiate and who are in a time crunch to find the flowers they need. Get a few bouquets for a small display around the casket or urn, and let the rest take care of itself. Many of the guests will bring flowers, so the entrance will soon be decorated for free, and that’s the part that makes the first impression.
Shopping online can save you a lot of money on an urn. Funeral homes will try to sell you a $500 urn, which may include a 1000% markup. If you buy online, you will have to pay for overnight shipping, but that’s a small cost compared to the standard markup. You can also find a huge discount on attractive caskets by shopping outside of the funeral home. Federal law prohibits funeral homes from requiring that you buy a casket from them or charging you a fee for getting one elsewhere.
This may be the most ghoulish part of this article, but you can dig the grave yourself. It’s probably not worth it for a full-size casket, but for an urn, you can save hundreds of dollars. An urn generally only needs to be buried 18 inches deep, as opposed to the 6 feet required for caskets. Just be sure to check with the cemetery and get the burial location right. If you think it’s ghoulish to dig the grave, just picture digging it up. Not fun.
Planning a funeral is never enjoyable, and it’s often expensive. Nothing you do will make it fun, but it is possible to make it affordable.
Have you had to coordinate a funeral? Did you take the funeral director’s recommendations, or did you cut some costs?
Consolidating Student Loans
This is a guest post.
If you owe on multiple student loans, you may have heard of or are considering consolidating your student loan debt. Whether you are fresh out of college or struggling with making multiple student loan payments, consolidating your debt can relieve you of that burden in exchange for one manageable monthly payment.
What is Student Loan Consolidation?
Student loan consolidation is one personal loan big enough to cover the amount owed on multiple student loans. The loan amount you receive is used to pay off the other student loans which leave you with a single monthly payment to make. You can consolidate all federal student loans with a debt consolidation program through the US Department of Education. Although FFELP, or Federal Family Education Loan Program, no longer offers debt consolidation, you can still be eligible through the US Department of Education. You may also still qualify for the federal student loan consolidation program even if your college does not participate in the Direct Loan Program. Many private lenders also offer student loan consolidation options as well.
Eligibility Requirements for Student Loans
You may be eligible to consolidate student loans if you are enrolled at part time status or less or if you are no longer in school. You would also be considered eligible by most lenders if you are within the loan’s grace period or are currently paying on your loans. You should also have your loans in good standing and have at least $5,000 owed in student loans. Each loan consolidation lender may have their own eligibility requirements, so it is best to check with the specific ones you are considering.
The Benefits of Loan Consolidation
There are numerous potential benefits to consolidating student loans including streamlining multiple payments into one affordable monthly payment. You may have multiple due dates on loans and you may be struggling to remember which one is due on which date. Streamlining your student loans is simpler and easier to remember, it also allows you better control over your budget.
Another benefit of choosing to consolidate student loans is extending the repayment terms. Many student consolidation loans can be obtained as long-term debt. Although it will require you to pay your loan for a longer time period, it does reduce the amount paid each month into a more affordable payment.
You will also pay a lower interest rate with a consolidated loan. The interest rate is determined by weighing all the interest on your loans and finding the average rate. You may have variable interest rates on your student loans and consolidating them can give you a fixed rate which is highly advisable given the uncertainty of the US economy.
A lowered interest rate and a longer repayment term mean a lower monthly payment than what you were currently paying on multiple loans. A smaller monthly payment leaves more money in your pocket at the end of the month and allows you to use that money elsewhere.
The Disadvantage of Debt Consolidation
It is important to be aware of all aspects of a student debt consolidation loan in order to make the best and most informed decision. There are some drawbacks to consolidating debt including having a higher repayment term which means you, in the end, will be paying more than if you paid it off sooner. You will also end up paying more in interest on a long-term loan than a short-term as less of the monthly payment is applied to the principle. You may also have to pay prepayment penalties depending on your original student loan terms. There are some student loans that prohibit paying them in one lump sum or ahead of the schedule without incurring a monetary penalty. You may also be required to repay any waived fees or rebates. Check your current student loan contracts to find out if you may be penalized for paying off the debt through a consolidation program.
Unfortunately, there are countless fraudulent and unscrupulous lenders trying to talk you into consolidating your student loans with enticing introductory rates or temptingly low monthly payments. However, it is essential to read all the small print before signing any contract in order to avoid the numerous scams out there. You should be wary of any lender that is promising really low interest rates. You can determine your potential interest rate by compiling all the student loans, adding their interest rate and determine the average. You may have to round up to the nearest one-eighth of a percentage. Beware a lender that promises an interest rate significantly lower than that interest rate.
