By Deborah Sweeney As the holidays approach, and home-based entrepreneurs take the time to conduct an end-of-year business review, chances are, they’re drafting up some early resolutions to get out of the New Year starting gate with a bang. These resolutions are usually created after a little trial and error. Knowing what you know now […]
The post 3 Signs Your Business Blog Needs a Content Revamp appeared first on The Work at Home Woman.
How much do you spend over the holidays? It might be more more than you’re willing to admit.
GoBankingRates asked 2,000 adults about their holiday spending for Thanksgiving and Christmas, and they spilled the beans.
*Note: While GoBankingRates’ report says that 57% of those surveyed will spend one full paycheck on the holidays, that only includes people who said they would spend one paycheck or more on holiday-related expenses. It doesn’t include respondents who said they would spend less than an entire paycheck or nothing at all. We compiled the numbers above using all responses and found that 61% of those surveyed will not spend an entire paycheck on the holidays.
While the amount of each person’s paycheck can vary widely, we can probably all agree that when you look at your paycheck, it feels like a lot of money — at least, until you pay your bills with it.
And holidays come with a lot of responsibilities, whether you’re hosting your extended family for dinner or your parents expect you to fly across the country for the holidays.
What can you do to keep your budget — and yourself — sane?
First, let’s be upfront about the holidays: Whatever amount you feel comfortable spending is A-OK with us, as long as you plan for it. If you save up throughout the year to spend without worry during the holidays, you get a pat on the back from us.
Christmas flights and gifts? Not great reasons to dip into your emergency fund. They’re not great reasons to overspend and go into debt either.
If your wallet’s already feeling the pressure of the upcoming holiday season, take a deep breath and make a list. By knowing the items you’ll need to purchase during the holidays, you can start doing price research and keeping an eye out for sales.
For example, if you know you’re cooking turkey for 20, you may be able to leverage your spending at your favorite grocery store to get that bird for free.
If you know which Black Friday deals are duds, you can better strategize your gift shopping — and maybe sleep in on Black Friday!
If you know you need to travel over the holidays, you probably know it’s too late to get the best deals on flights. (There’s always next year.) But you may be able to save a bunch if you’re willing to fly on Thanksgiving or Christmas Day. And there may still be time to score more affordable train or bus travel.
But you can’t do any of that unless you know what you need to buy or book this holiday season.
Take inventory now, or you’ll be counting out those paychecks in a few weeks.
Lisa Rowan is a senior writer and producer at The Penny Hoarder.
This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.
When someone requires assistance with daily living or medical tasks, family members are often the first people to step in and help.
The National Alliance for Caregiving estimates around 43.5 million caregivers are providing unpaid care for an adult or child with special needs. The combined value of the care they provide adds up to around $470 billion.
But that figure doesn’t account for the mental, physical and emotional strain of being a caregiver, or the financial impact it has on families.
Work-life balance is also a challenge.
A recent survey by estate settlement service Legacy Navigator reveals that 68% of caregivers also work full time. Unfortunately, trying to work and provide care causes some people to quit their jobs altogether.
But that creates another set of problems.
“Leaving a job to take on more caregiving responsibilities not only puts pressure on the day-to-day consequences of individuals and their families, it can also have longer-term consequences for the family caregiver’s financial security,” says AARP.
In 2012, President Barack Obama proclaimed November National Family Caregivers Month.
“Family members, friends, and neighbors devote countless hours to providing care to their relatives or loved ones. During National Family Caregivers Month, we recognize and thank the humble heroes who do so much to keep our families and communities strong,” Obama said.
Being a caregiver is difficult, but these five tips may help.
Lisa McGreevy is a staff writer at The Penny Hoarder.
This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.
As you already know, saving for retirement can be a drag. In fact, some studies show nearly half of Americans have nothing saved for the golden years at all. Nada. Zip.
Right now is a great time to start saving, but what if you’re nearing retirement and thinking it might be too late to hope for a major savings windfall?
Well for one, it’s never, ever too late to start saving. And two, thanks to insights from a recent GoBankingRates study, there are definitely affordable cities you should consider retiring in.
GoBankingRates used a measure of livability from city and neighborhood ranking site AreaVibes, and cost-of-living data from Sperling’s BestPlaces to rank the 30 best cities where you can retire for less than $1,000 a month.
We do have to note one big caveat: The study assumes you own (or will own) your home and have already paid off the mortgage at the time of retirement. That means your only housing expenses would be taxes and maintenance.
Thanks to its low taxes, Texas has seven cities listed in the top 10 places to retire for under $1,000 a month. So you should probably practice your “yeehaws” and the chorus to “Deep in the Heart of Texas” if you want to retire on a budget.
The study also broke out grocery, health care and utilities spending.
For the cheapest groceries, your best bet is Corpus Christi, Texas, where you can expect to spend about $241 a month at the store. Birmingham, Alabama, wins out in monthly health care spending, while you’d pay the least for utilities in Tucson, Arizona.
Here are the 30 best cities to retire for less than $1,000 a month, weighted for their livability and cost of living. The number is the estimated total monthly expenditures for a potential retiree — but remember, that’s only if you’ve already paid off your mortgage.
Now you have an idea of some retiree-friendly communities with a low cost of living. But that doesn’t mean you should start spending cash like a drunken sailor. Here at The Penny Hoarder, we know that every penny counts.
Here are five ways to pad your savings so when you do move to El Paso, Texas, you’ll have plenty of money left over for the good life.
With RVshare, you can make some extra retirement savings by renting out your recreational vehicle to someone else. Come on, you’ll have plenty of time in the golden years for cross-country trips.
In 2018, the U.S. government will increase the maximum contribution to a 401(k) by $500 to $18,500. That’s an extra, untaxed $500 for you to spend on Arnold Palmers on the links in Winston-Salem, North Carolina.
Make your money work for you. Apps like Stash or Acorn can get you onto Wall Street for as little as $1.
A Roth IRA, a type of individual retirement account, is a good companion to the classic 401(k).
SmartAsset has a retirement calculator that will help you put your financial future in perspective without a bunch of spreadsheets. It’s just a starting point, but it could help motivate you to shoot for more than living on less than $1,000 a month.
Disclosure: This post includes affiliate links. We’re letting you know because it’s what Honest Abe would do. After all, he is on our favorite coin.
Alex Mahadevan is a data journalist at The Penny Hoarder. He’s currently breathing into a paper bag after thinking about retirement savings.
This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.
Ever feel rushed to make it to the pharmacy in time to pick up your meds at the end of the day?
You’re not alone. And CVS Health is here to do something about it: It will soon offer next- and same-day prescription delivery.
On Nov. 6, CVS Health announced it will offer next-day prescription delivery nationwide starting in 2018.
And beginning Dec. 4 of this year, CVS will also offer same-day prescription delivery in Manhattan. In early 2018, this same-day program will expand to select markets, including Miami, Boston, Philadelphia, Washington, D.C., and San Francisco.
The buzz is that CVS’s plans are in response to growing speculation that Amazon is moving into the pharmacy market.
In late October, The New York Times reported that Amazon purchased wholesale pharmacy licenses in at least a dozen states.
However, the licenses also allow Amazon to sell other products, such as cosmetics and medical devices, leaving it unclear just what Amazon is trying to dive into.
A representative for Amazon told the Times that the company refuses to comment on “rumors or speculation.”
While Amazon’s future in the pharmacy industry is blurry at best right now, retail pharmacies are getting a head start should Amazon move into their territory.
CVS hasn’t announced the delivery service’s price, but it did announce the same-day delivery in Manhattan will be free. As for the rest of the market, CVS spokeswoman Erin Pensa said the company has been “able to use our scale to negotiate low-cost, affordable options for all CVS Pharmacy customers,” as reported by The New York Times.
If the delivery fees are low, this could be a convenient option for nearly everyone who takes prescription medications. Plus, there’s added benefit for disabled people who may not be able to drive themselves to the pharmacy.
In a world where we have access to cars, shopping, food and other services at the touch of a button, it seems like pharmacies are finally catching on.
Will Amazon bite back with another competitive alternative, though? Looks like we’ll all have to wait and see.
Kelly Anne Smith is a junior writer and engagement specialist at The Penny Hoarder. Catch her on Twitter at @keywordkelly.
This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.
Last week, House Republicans delivered their long-anticipated plan to overhaul the U.S. tax code.
When the $1.51 trillion Tax Cuts and Jobs Act was made public on Thursday, it immediately ignited debate.
Supporters, including President Donald Trump, say it would make America more attractive to businesses, allowing us to gain ground in the world business market while growing the economy. Critics say the plan would benefit corporations and the super-rich at the expense of small-business owners and the middle class.
The plan will likely be revised before it’s voted on, but here’s what it would mean for you in its current form.
All but three deductions — mortgage interest, charitable contributions, and state and local property taxes — would be eliminated, The New York Times reports.
Those eliminations could mean fewer tax breaks, but they also make it possible to nearly double the standard deduction — the dollar amount those who don’t itemize their deductions can subtract from their taxable income.
The current standard deduction is $12,600 for married couples and $6,300 for single people.
But the standard deduction would rise to $24,000 for a married couple and $12,000 for singles.
In many cases, this would make up for the individual deductions that would no longer be available.
On top of the increased standard deduction, the child tax credit would increase from $1,000 to $1,600 per child.
According to The Washington Post, the child tax credit is especially important to larger families that will not longer be able to claim personal exemptions. The plan also includes a new $300 credit for non-child dependents.
The changes for student loan borrowers won’t be as welcomed. The new tax plan proposes eliminating deductions of payments toward student loan interest, which about 30% of student loan borrowers claimed in 2015, CNBC reports.
Borrowers can currently deduct up to $2,500, though the amount you can deduct is gradually reduced once you make more than $65,000 if you’re single or a combined $130,000 or more if you’re married. Single people who make more than $80,000 and couples who make more than $160,000 can’t claim this benefit.
According to Forbes, the average benefit is $202.
Mortgage interest and property tax deductions won’t disappear, but the proposed bill would cap both, according to USA Today.
The property tax deduction would cap out at $10,000, and only home loans under $500,000 could deduct mortgage interest payments. That means one less deduction for high-earning taxpayers. But the change in the mortgage interest deduction would only impact newly purchased homes; those with existing mortgages would continue to deduct interest payments under the current terms.
The change is intended to provide relief for middle-income families while offsetting the lower rates corporations will pay, House Ways and Means Committee Chairman Kevin Brady told USA Today.
The tax rate for corporations would drop from 35% to 20% under the proposed plan.
The idea is that a tax break for companies will create more jobs in America because more multinational companies would do more business here rather than overseas, where corporate taxes are lower.
But critics believe the tax cut could mean a break that only benefits the rich who could exploit loopholes and end up paying a lower tax rate.
The tax plan would also consolidate the seven tax brackets, which currently range from 10% for the lowest earners to 39.6% for the highest earners, into four tax brackets: 12%, 25%, 35% and 39.6%.
The new brackets would mean a tax cut for families earning between $480,051 and $1 million that now pay in the 39.6% bracket.
Families that earn between $19,050 and $90,000 each year and paid between 15% and 25% in taxes under the current tax code would also see a tax break, because their tax obligation would drop to between 0% and 12%.
The poorest families — those that make less than $19,050 — would technically see their income tax percentage increase, but the higher standard deduction would mean their income wouldn’t be taxed.
If you want additional information on all the tax brackets, CNBC neatly breaks them down for single filers and married couples.
Desiree Stennett (@desi_stennett) is a staff writer at The Penny Hoarder.
This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.
Global funds, thanks to the diversification they offer, have proved a big hit with investors, particularly since the financial crisis when many UK investors suffered burnt fingers for placing too much faith in their home market.
Over the past decade, global funds have seen their assets jump from £30 billion to £90 billion, while today around £16 billion is held in global equity income funds – an Investment Association (IA) sector that has only been around since the start of 2012. In terms of global growth funds, Fundsmith Equity is a firm favourite with investors, while among income funds Artemis Global Income features highly in the popularity stakes. Both have been stellar performers on a five-year view, positioned 2/208 and 1/27 in their respective sectors at the end of September.
But the views and investment philosophies of the fund managers at their helms – Terry Smith and Jacob de Tusch-Lec – couldn’t be more polarised. Smith focuses on "quality growth" and believes the secret to investment success is to buy and hold a small selection of long-established firms with big brands and a high return on capital. In stark contrast, de TuschLec is a value investor; while acknowledging Smith’s success over the past five or so years, he argues that there will be different winners when the interest rate cycle turns.
According to de Tusch-Lec, shares that fit the quality growth description have been the big winners from unorthodox monetary policy in the form of quantitative easing (QE). But, he argues, this tailwind is now coming towards an end. "This bull market has been odd as it is being driven by low interest rates and boring bond proxies, rather than by earnings or growth," he says. "Once you press interest rates down, all the bond proxies go up. But, in my opinion, when interest rates rise you can’t expect the same thing to happen – there will be different winners, and I’ve positioned my portfolio accordingly."
It is over 10 years since an interest rate rise in the UK, but while the Bank of England’s Monetary Policy Committee has previous form for hinting that a future rate increase is on the cards, only for it not to materialise, the general feeling is that it is now only a matter of time before rates do start to move upwards. Moreover, there is talk of QE being reversed in the US and the UK, although the policy is likely to remain in place in Europe.
In the US, the Federal Reserve has already moved interest rates higher twice in 2017, a trend that de TuschLec is hoping will benefit the big sector bet he is currently running in the portfolio – a 40.9% weighting to financials. De Tusch-Lec does not shy away from the risk involved. "It is big enough to lose sleep over," he says.
According to de Tusch-Lec, banks are one of the two value plays in town, alongside miners, but the latter is largely hamstrung by the performance of the oil price. "Rather than trying to second-guess the oil price, I can more accurately predict that when interest rates rise the yield curve will change, resulting in bond yields rising. In this scenario banks will be the biggest beneficiaries," he argues.
Banks have cleaned up their act since the dark days of the financial crisis yet remain cheap, he notes. Over the summer months he added to a selection of banks, including Citigroup, Nordea, Danske Bank and Intesa Sanpaolo.
He puts the cut-price valuations on offer down to market participants being obsessed over the "good stuff" – consumer staples, the likes of Unilever and Diageo, as well as tomorrow’s perceived success stories such as the US tech-based giants. "Banks are becoming dividend machines, but the market is not giving them the credit. The market is instead more interested in paying a higher price for the future, so Tesla, for instance, is preferred over say General Motors, one of my holdings. But from where I am sitting, General Motors is on a low earnings multiple and has a rock solid dividend, so I think it is worth investing in,’ he says.
Turning his attention towards consumer staples, which over the past 10 years have been one of the hottest areas of the stock market, de TuschLec cautions that the sector’s best days may soon come to an end. 2Gearing levels are much higher than they were 10 years ago, so some of these bond proxies may find themselves in trouble when interest rates go up.’ Moreover, he adds that in a world where deflationary forces such as competition-boosting internet comparison sites are at work, even well-established companies will find the going tough to maintain pricing power and their grip on customers.
Another area that carries rich valuations is the US stock market, a consideration that de Tusch-Lec acknowledges and is reflected in his portfolio’s modest 28% exposure to North America. In contrast, the average global fund holds 47 per cent, according to figures supplied by Morningstar.
Instead, de Tusch-Lec favours Europe, which accounts for 45% of the fund. While dividend payments are important, given the fund’s income obligations, de Tusch-Lec also ‘wants to make money on the shares’, which is why he places a heavy emphasis on not overpaying.
In the case of Europe he points out that he can find shares offering sky-high dividend yields of 7% or higher. "Europe’s economy is going gangbusters. It may not be contrarian anymore, but I am still finding value. We have over 10% in Italy, for example, which may be viewed by some as risky, but I’m not losing sleep over that position."
Elsewhere, emerging markets have been an area where de Tusch-Lec has been focusing more attention, in August moving to an "overweight" position. The weak dollar has postponed any risk of an "emerging market meltdown", he says, while adding that as long as global economic growth continues to look healthy, the emerging market rally that started around 18 months ago still has legs. "I do think there’s more to come, so we have been beefing up our exposure to emerging market banks. There are risks, however, most notably a mountain of debt in China that needs to be dealt with at some point."
Outside of financials, the rest of Artemis Global Income is split across a wide range of sectors, including telecoms, industrials and businesses in the information technology field. De Tusch-Lec describes the way he invests as "contrarian and multi-cap", and he avoids any prescriptive set of rules – such as a minimum yield requirement for each individual holding. "We mix it up, holding firms that are returning to the dividend register as well as companies that regularly distribute cash, whether that be through dividends or share buybacks."
While the past decade has been a miserable one for value investors, Artemis Global Income has managed to buck the wider trend. On a five year view the fund has returned 115%, comfortably ahead of the IA global equity income sector average return of 73.2%.
On a three- and one-year timespan the fund is also ahead of the average global equity income fund. "We’ve been investing against the tide now for around three years, but thankfully stock-picking has carried us through," he says. "Defensive growth-style funds are where the appetite remains, but we hope to be the contrarian play for value investors who want to profit from the different set of winners that will emerge when interest rates rise. We are 20% cheaper than the wider global market (MSCI AC World) when using various valuation measures, so I think we are well-positioned."
This article was originally published on our sister website Money Observer.
One reader wants to invest her pension pot in funds that are socially responsible, but should she put all her eggs in one basket?
I have £63,700 invested in workplace pensions from previous employers. Of this, £52,000 is in a group self-invested personal pension (Sipp) with Hargreaves Lansdown. I prefer to invest ethically, so have chosen the F&C Responsible UK Equity Income fund and the Kames Ethical Equity fund.
I also have £11,500 in an Aviva company pension plan through its ‘Mixed Investments Annuity Lifestyle Approach’ in the Mixed Investment (40%-85% shares fund).
Should I transfer the Aviva pension into the Sipp? Or should I keep them separate and put the Aviva money into an ethical fund?
Having everything in one place will make everything simpler, but comparing charges can be tricky, according to Mark Stone, a chartered financial planner at wealth manager Whitechurch Securities Ltd.
“You need to ask both providers to send you full details of the charges applying specifically to your own policies so you can compare them on a like-for-like basis,” he says.
“The Aviva scheme may have in-built Guaranteed Annuity Rates, which may give you a much higher pension than you would get by buying one in the open market, or a protected tax-free cash sum, that is higher than you would get elsewhere,” he adds. “There may also be a penalty for moving the Aviva plan.”
The Hargreaves Lansdown Sipp is attractive as it offers flexible drawdown, which allows you to take unlimited withdrawals from the pension, plus it has a wide choice of investment funds. It won Best Sipp for beginners at the Moneywise Pension Awards 2017.
Justin Modray, founder of Candid Financial Advice, says: “It’s on the pricey side, costing 0.45% a year versus rival Fidelity at 0.35%, but, based on the amount you have invested, it’s cost effective.”
The Aviva pension, meanwhile, is harder to appraise. “There are no standard charges for this type of pension. It depends on exactly which company pension you have and whether your old employer negotiated a discount,” he adds.
So check if the Aviva pension offers flexible drawdown in retirement, and if you’ll incur penalties by transferring.
“If it offers flexible drawdown and costs are similar to Hargreaves Lansdown, the only reason for transferring to Hargreaves Lansdown would be simplifying your pension by holding one account,” he adds.
Note that the Lifestyle fund in your Aviva pension will be inappropriate if you plan to use drawdown in retirement rather than buying an annuity.
“Lifestyle funds assume you’ll buy an annuity at retirement, hence why they gradually shift your fund in to bonds and cash as retirement approaches,” explains Mr Modray.
Jason Witcombe, director of Evolve Financial Planning, points out both funds in the Sipp are UK equity portfolios, so returns will be heavily dependent on the performance of shares in companies listed on the London Stock Market.
“Consider what justification there is for not having more international exposure – and maybe an element of diversification away from equities,” he says.
Both funds are actively managed and, therefore, more expensive than passively managed.
“The Vanguard SRI Global Stock fund is available via Hargreaves Lansdown and is 0.5% a year cheaper than your current funds,” he says.
This fund invests in larger companies in developed markets around the world that satisfy a screening process for socially responsible investing, which takes into consideration factors including corruption, the environment, human rights, labour, and weapons.
Note that the term ‘ethical’ covers a variety of funds, which are labelled as green, socially responsible or sustainable.
“They have different approaches, so it’s worth reading the fund factsheets and any supporting information to help decide which approach you prefer,” he adds.
With everything considered, Mr Witcombe believes a Sipp offers some attractive benefits. “There is the flexibility to reduce fund costs, better diversify, and make sure that the funds that you invest in meet your ethical criteria as closely as possible,” he says.
Mr Stone says your decision to transfer comes down to whether the most important consideration is choice or flexibility.
“You could argue you currently have the best of both worlds,” he adds.
Rob Griffin writes for The Independent, Sunday Telegraph and Daily Express.
Do you have a question for the Investment Doctor? Email editor@moneywise.co.uk
My niece had her first child a few months ago and seeing that little baby has reminded Sarah and I of our own experience with having babies around the house. Our children are long past the baby stage, but for almost an entire decade, we were in a constant cycle of having at least a toddler, a baby, and/or a pregnant mom at home. We have baby experience, in other words.
Seeing this new little one pop into our extended family has made Sarah and I reminisce a little and talk about some of the routines and other things we used to have with our own children when they were babies. We tried lots of different things for different purposes, like trying to make sure our children had a good healthy start in their physical and mental development, making sure they were safe, and also making sure that the things we did weren’t overly expensive.
We tried a lot of frugal strategies with our kids during the first couple years of life. Some of them were big money savers and some weren’t. Some ended up requiring huge time investments, while others did not.
From the vantage point of today, I find myself thinking about one question: which of those strategies actually provided a lot of savings for the time investment? In other words, which of those strategies would I actually recommend to my niece?
I went back through some of my old posts and notes from that era in my life, along with my own reflections, and ran some things through a calculation or two to make sure that my perception of the savings actually matched reality.
Here are the twelve biggest things I found in terms of saving money with a baby/toddler during the first couple years of life that don’t involve large time investments. (For example, Sarah and I used cloth diapers and it saved a tremendous amount of money, but there was a significant time investment in doing that beyond using paper diapers, so I didn’t include that here.)
I am absolutely not a breastfeeding zealot. The choice of whether or not to breastfeed is based on a lot of factors, many of which are far outside the control of the mother, and simply judging someone on whether or not they choose to breastfeed is a gross oversimplification of a complex decision.
Having said that, unless there are real, tangible reasons standing in your way, strongly consider breastfeeding your baby. Breastfeeding is an incredibly cost effective way to get your baby the nutrients he or she needs in order to grow, as compared to formula. Any opportunity you have to feed your baby this way is not only healthy, but it’s going to be less expensive (unless there are unusual extenuating factors).
What about pumping? My wife used a pump with all three children and we got incredible value from that. Our calculations were that the pump – a rather high-quality device from Medela – paid for itself around the eight month mark for our first child and she continued to use it for all three children. Not only did it produce milk that we were able to use later with our baby, it also helped her continue to flow. If you are willing to commit to pumping, especially over the course of multiple children, then a breast pump will pay for itself easily. (Having said that, I suggest renting one to try it first for a short period; many hospitals and other services will rent them out at a low cost.)
Making a large quantity of baby food is far cheaper than buying the equivalent amount of Gerber or store brand baby food containers. It does require a bit of up-front effort, but it’s not bad at all.
Our process was easy. We’d simply take some fresh vegetables (like carrots or green beans) from our garden or from sales in the produce section) and cook them all day long in the slow cooker while we were at work (filling up the slow cooker if possible). When we got home and those vegetables were super-soft, we’d simply put them in a blender and puree them, adding some water when they were younger to make it thinner but slowly adding less and less water as they got older. We then poured the puree into ice cube trays and froze them. After they were frozen, we put the puree cubes into gallon-sized Ziploc baggies and labeled the bags clearly with the contents.
Whenever we needed baby food, we’d pull out a couple of cubes, microwave them gently until melted but not hot, and feed them to our baby, or if we were planning ahead, we’d put a couple in a small sealed container and let them thaw in the refrigerator or even on the countertop.
(We’d follow the same process with fresh fruits, except without the cooking part.)
This enabled us to turn low-cost on-sale produce into large quantities of baby food, and that food became the consistent food that our babies ate from about four months to a little over a year (when they began to transition to our table meals). Most of the time, the cost of our homemade purees was a fraction of the cost of buying baby food packets and it really didn’t cost us much time, either.
Most babies outgrow their clothes incredibly quickly, leaving parents with quite a few outfits that have been worn only a couple of times. However, those outfits are still used, even if they basically look new.
So, what can a new parent do about this? They can buy clothes for their babies used, picking up outfits that have only been worn a couple of times for a fraction of the price of new clothes.
There are a lot of ways of doing this. Yard sales and garage sales are a good place to start, as are Goodwill stores and secondhand shops. You can often find baby clothes on Craigslist and Facebook Marketplace for local pickup, too.
In general, the price you pay for used clothes is a tiny fraction of their cost when buying new. If you buy all used clothes and are selective, you’ll have an entire wardrobe of clothes that appear new but cost you very little, and then you can then sell those items when your baby outgrows them for most of what you paid for them (or save them for your next child).
(Another tip: don’t sweat “gender colors” much at all. Babies don’t draw conclusions about their gender based on the color of pastel onesie that they’re wearing, and no one should care about the gender conclusions that a random person on the street draws.)
I won’t delve into the child development debates regarding toys and other “educational” items for babies other than to say that much of what I said about clothes above is true: most baby toys are scarcely played with and are sold in practically new condition at used prices if you shop around at places like yard sales, Craigslist, Facebook Marketplace, and so on.
There is really very little need to buy new toys for babies, toddlers, and young children. Their development is so fast that they’ll play with a toy for a very short period before they’ve outgrown it and moved on to other items. Buying a new toy just to have it played with a few times and then sold at a huge loss used doesn’t make much sense when you compare it to buying a toy that’s only been played with a few times at a used price, having your baby play with it a few more times, and then selling it at a used price, probably breaking even on it or losing just a small fraction of the sticker price.
Another approach – one that we used with our own kids – is to look for items that you already had on hand that are baby-friendly and toddler-friendly and just allow your little one to play with them. Our kids would play the “drums” using a wooden spoon on pots and pans. They would play lots of “peekaboo” with a drying towel. They would roll around a well-sealed coffee can or a plastic container with some pocket change in it. They’d play endlessly with cardboard boxes and things of that nature when they were a bit older.
For most families, one of the biggest costs associated with a baby is child care. If both parents need to work, someone has to take care of that child during overlapping working hours.
One solution to this problem that works well for many families (and worked well for us) is to find a trusted babysitting partner – another parent who has a child close to the same age as yours who lives near you and may be in a similar situation. You can often meet such parents at prenatal classes at your hospital or by being involved in your local neighborhood or in community groups.
If you can identify a working schedule that includes times where you can simply swap babysitting rather than taking a child to child care, you’re drastically reducing the cost of child care.
For example, let’s say you need to return to work, but you can work ten hour days four days a week – say, Monday through Thursday. You find a babysitting partner who works five days a week, but only three of those days overlaps with you and one of the other two overlaps with that person’s partner – say, Tuesday through Saturday, with that person’s partner having Saturday off. Make a proposal – you watch that person’s child on Fridays and that person watches your child on Mondays. That way, you both only have to spring for child care three days a week, which is much cheaper than four days a week.
In other words, simply look for nearby parents with differing schedules than your own and swap babysitting sessions. You can also do this in the evening, giving each of you one free evening a week while the other family watches your child. This can completely eliminate the cost of babysitting.
Another strategy – one employed very successfully by my older brother and his wife – is to simply live very close to trusted family members who may be able to occasionally babysit, provide child care, or handle emergencies.
Every family is different, with different levels of trust and different relationships and different arrangements, but there is almost always significant value in living near family because of those types of benefits.
Perhaps your mother or father can watch your children for an afternoon once a month, enabling you to get a bunch of tasks done so that you’re less stressed out. Maybe you have a sibling who would be happy to watch your baby for you for a day every once in a while. Perhaps you might live near a cousin with a child a bit older than yours and receive a constant gravy train of hand-me-downs. Maybe your parents will have a family dinner once a week, saving you the hassle of preparing a meal that night.
Simply living close to family members you trust can provide value in ways you can’t possibly expect.
It is often tempting to take your child to a portrait studio or to a photographer for some great pictures. That might be wonderful, but you often find yourself paying $50 or more for just a few prints and probably even more to have the digital negatives.
The truth is that most people take amazing pictures already with their smartphones and a bit of planning. Such pictures might not be technically perfect, but they’re often far more personal as the picture can incorporate tons of personal detail, like the baby’s favorite blanket or stuffed animal, or be staged in a favorite park.
Instead of using a studio, try taking your own portraits using some thought, your smartphone camera, and some nice staging. You’ll end up with some beautiful digital negatives, full of personal elements that have real meaning, and you can then do with them as you wish – printing exact quantities you need or sharing the digital negative with friends.
Local libraries are abundant with resources for all ages, and babies are no different.
For starters, libraries are known for books, right? Libraries tend to have enormous collections of board books and picture books perfect for reading with your baby. You can constantly cycle through them and find some “perfect” ones to own, rather than taking a shot in the dark at a bookstore.
Many libraries also have a “story time” for babies and toddlers, where someone reads aloud a story. These sessions also often provide social time for newer parents, which can be wonderful.
Many libraries also facilitate support groups for new parents, enabling parents to find ways to meet each other and build friendships while also sharing advice on the challenges of new parenting.
The best part is that all of these resources are typically completely free. All you have to do is stop in and see what’s available.
I can’t even tell you the number of times in which a simple trip across town to a grocery store or a fifteen minute drive to an event or a trip to the grandparents turned into a logistical nightmare, sometimes even resulting in turning around and going home. Babies blow out their diapers and outfits. Babies spit up all over the place. Babies cry endlessly from teething. It goes on and on and on.
Our best solution for this was to have a “baby emergency” bag in each vehicle for the first few years of life. This wasn’t just the ordinary diaper bag – it included at least two full outfits appropriate for the season and the baby’s current size, several backup meals, snacks, teething rings, cleaning supplies, and countless other items that one might need in a pinch. We’d update these bags once a month or so, but they’d usually just reside in the trunk of the car.
These bags were tapped during logistical emergencies. Having that bag along saved us from simply turning around and going home many times. It salvaged long road trips. It saved us hours upon hours over the years. The fuel savings alone added up to a lot.
It also saved us money on the supplies themselves. Without some preparation, an unexpected event can result in an emergency run to Target where you’re buying overpriced items in a rush. If you have a prepared bag for almost all emergencies, then you can buy those supplies at reasonable prices or make them yourself so that you’re not buying things in an emergency.
The offices of most pediatricians are deluged with samples for things like formula and other baby health care products. These products are often distributed to new parents fairly haphazardly, but the reality is that many parents will get much more in terms of samples if they simply ask. So, ask.
Quite often, a simple request for samples of formula to help you figure out what’s best for your baby will result in an armload of options which you can then use to figure out which one’s right for your baby without additional cost. That way, you don’t have to try out several formulas out of pocket to find the one that works for you and your baby.
Our pediatrician was pretty friendly with samples of all kinds of products, but you could always get even more if you simply asked for them. It was a great way to try out different products to see if they worked well with our babies without having to actually buy them.
It can be tempting – especially at first – to immediately schedule an appointment at the pediatrician or to run for the emergency room whenever there’s a minor problem with your baby. It’s often not clear what you should be doing and what’s actually a cause for alarm, so parents often respond with maximum caution – and that’s a good thing.
However, it’s also an expensive thing, and given that many such matters are completely normal situations without any need for special care, it can add up to a lot of unnecessary expense, especially if you don’t have world class insurance.
The best solution is to talk to your child’s primary pediatrician and ask about the availability of a nurse consultation service for minor medical issues. Many doctors, particularly those in larger clinics, have a 24 hour nurse service line that people can call if they are patients of that clinic to ask basic medical questions without a cost.
Such calls can help you quickly figure out if that rash is something to really worry about or if it’s normal, and if it’s normal, how you can easily treat it. It beats trusting your interpretation of a website by a long shot and it can really help you figure out whether you need to actually make an appointment or go to the ER or you can just handle the situation at home with much less expense and time commitment.
If you find yourself settling into a routine of using a particular product for your baby, such as a particular brand of formula or a particular brand of diaper (which is usually a good idea for consistency’s sake once you find something that works), sign up for coupons for that item. Go to the manufacturer’s website and see if they offer coupons.
Quite often, you’ll find that such sites will send you coupons both in your email and in the snail mail quite regularly, usually more often than you’ll actually use them. If you’ve settled into using a particular product, those coupons basically equal cash, and they’re often coupons with a nice face value attached, such as $1 or $2 off a large can of formula or $4 off a jumbo pack of diapers.
I looked at these coupons as basically being free money for new parents, so I was happy to receive them. Sure, you sometimes got coupons for items you didn’t really want or need, but the value of the worthwhile coupons was immense.
One tip: if you haven’t already done this, create an email address just for coupons and promotional offers. Gmail allows you to easily do this. Then, sign up for coupons using this new email address alone and then just check it whenever you need to buy coupons. This keeps your main email from receiving any additional spam.
There are lots and lots of different strategies one can use to save money with a baby at home, but these tips were the ones that really provided a lot of value for us during the baby years. They provided a ton of value for very little additional effort on our part, which was great because new parents are almost overwhelmed with things to do with the sudden addition of a baby to care for in their lives.
Good luck to you and the new baby in your life!
The post Twelve Big Tips for Saving Money with a Baby appeared first on The Simple Dollar.
You can never be 100% sure of just when a natural disaster will strike, nor can you predict the damage (and the cost). The best anyone can do is be prepared with a list of precautions and contingencies for before, during, and after the disaster. Managing your finances is especially important, as is coming up with a plan of action. Don’t worry, we can help you get started.
Sometimes you know when a natural disaster is making its way to your state or city. Oftentimes, they take us by surprise, which is why it’s always good to take some necessary precautions and be prepared.
Insurance is a lot like a safety net: easy to take for granted until the moment you need it. Some customers pay their premiums for years and are fortunate enough to never file a claim. That can make insurance seem like a costly investment with no immediate pay-off, especially when the basic home insurance policies can have you paying between $500 and $1,000 a year.
Nevertheless, your costs to repair an underinsured home or car damaged in a disaster could be astronomical compared to the cost of your policies. The same applies to an apartment dweller shouldering the entire cost of replacing damaged personal belongings without the benefit of renters insurance. Let’s explore this in a little more detail.
There are other types of property insurance, but those are the big three. Now that we know the basics, let’s answer another very important question: Is insurance worth it? While the policy costs will ultimately vary based on location and other factors, we can attempt to generalize these costs in the following visual.
| Insurance | Potential cost |
|---|---|
| Homeowners insurance | About $35 per month for every $100,000 of home value* |
| Auto insurance | Average amount spent to insure a car in the U.S. was $815 a year (2012)** |
| Renters insurance | About $184 a year*** |
Compare those policy estimates with the tens of thousands of dollars you could pay for uninsured or underinsured damages and it’s easy to see why insurance is worth it. Plus, you can often offset the costs by bundling multiple plans (home + auto) and making improvements to your home (smoke detectors, for example). Just make sure you fully understand the details of your policies so you know exactly what will be covered. It’s also wise to take photos of your possessions, home, and vehicle to make filing a claim easier down the road.
A poll by the American Red Cross found that less than half of the parents discussed fire safety with their families. And that was just when it came to fires. Home emergencies can come in many forms including flooding, hurricanes, and blizzards. Having an emergency plan can make all the difference in the world.
Fire emergency plan [Download PDF]
Hurricane emergency plan [Download PDF]
Flood emergency plan [Download PDF]
Blizzard emergency plan [Download PDF]
What about the pets?
And while it’s true that you should always prioritize the lives of your loved ones during an emergency, that doesn’t mean you should forget about important financial documents. Prior to a home emergency, you should put together a contingency plan to preserve all of your important licenses, certifications, ID, bank information, and other financial documents. We’ll cover this in more detail when we talk about bug-out bags.
An emergency fund is a cash buffer that helps soften the blow whenever life throws the occasional curveball. As Dave Ramsey puts it best, “The reason to have an emergency fund is simple: You don’t know what’s going to happen.” This is especially true when it comes to natural disasters, but where do you start? Here are a few steps to help you get started:
Ultimately, these steps will vary based on your income and how much you’re willing to put aside each month. You might also want to invest in a fire-resistant lockbox to keep all of that flammable cash safe and sound. There are also budgetary tweaks you could make to your day-to-day life to have more money for the fund. Things like eating out less and limiting your Starbucks purchases can really add up.
Things are getting increasingly more automated as technology continues to evolve and the same is true for bill payment. Many different utilities, insurance providers, and credit card providers now offer the option for auto-payment. You either go online and opt for this in your account settings or you can call a representative and they can walk you through it.
Among the many benefits of auto-payments is that you can rest assured your bills are being paid. As long as the card and account you associate with the process are current, you don’t have to worry about sending any payments via mail. That means that, even during a disaster, you’re still able to keep up with those monthly payments.
A bug-out bag is usually filled with everything you’ll need in the event of an emergency. This can include first aid, MREs (Meals Ready to Eat), batteries, flashlights, important documents, etc. By having these, you don’t need to worry about gathering up necessary provisions. All you need to do is grab the bag and head out the door.
Here’s a list of things you should include in your own bug-out bag [Download PDF]:
We recommend placing these and other essentials in a backpack you can easily sling around your shoulders. You might need multiple bags to carry other essentials like sleeping bags, emergency blankets, and changes of clothes. A great place to store these bags is in the same place where you’re keeping your emergency fund.
So disaster has struck and you’re riding out the storm. Now, more than ever, you need to keep up with your finances and prioritize your costs and responsibilities.
One of the first things you’ll want to do in the wake of a natural disaster is make sure everyone is safe. Once that has been established, it’s time to assess the damage to your property. You’ll want to make sure you file a claim with the applicable insurance policies you’ve taken out on your home, car, or apartment. Here’s how you get started:
This is generally how it can go with home and renters insurance claims. A similar process can take shape for filing an auto insurance claim. Make sure you keep copies of everything from your claims form to anything the adjuster hands over.
FEMA can provide disaster assistance to homeowners in the wake of a major disaster. In order to see if you qualify, you’ll need to visit the site disasterassistance.gov. Once you’ve applied online and filled out all the necessary information, you should get a call from FEMA within 10 days of submitting the application. A home inspection will be scheduled and, if you qualify for assistance, you’ll receive a check by mail or a direct deposit to your checking account.
This assistance is extended to homeowners, small businesses, and even renters. By law, FEMA assistance cannot duplicate assistance received from insurance claims, but you could receive assistance on items that were not covered by insurance.
No one wants to get penalized for late credit card payments and you might have some room to breathe given the extenuating circumstances. Contact your creditor(s) to let them know the situation, and they may be able to work with you to prevent any negative impact to your credit score.
In some cases, a lender can’t report any delinquent payments until a full 30 days after the due date. That doesn’t mean you should get into the habit of paying late.
If your home requires repairs and you won’t be able to live it in for a month or more, consider halting utility services. There’s no reason you should be paying for electricity and water if you’re not able to use any of it. In such an event, contact your utility service and have them temporarily suspend service.
All anyone can do in situations like these is do their best to be prepared. By having a plan going into a natural disaster you’ll have the tools necessary to minimize the financial impact of it. Then, in the aftermath, you’ll have the tools and information necessary to pick up the pieces and move on.
The post An In-Depth Guide to Financial Emergency Preparedness appeared first on The Simple Dollar.
By Holly Reisem Hanna Have you ever worked with a difficult client? (As someone who waited tables throughout college, I know I’ve dealt with my fair share of impossible-to-please customers!) But the beauty of owning your own business is you get to choose who you want to work with. Turning down work isn’t limited to […]
The post How to Turn Down Business Clients, Professionally appeared first on The Work at Home Woman.
I think we can all agree there’s nothing better than free food.
To give you — or rather, your kids — the gift of free food, I scouted nationwide restaurant chains to figure out where kids can eat for free.
Here are 17 restaurants where kids eat free (or almost free).
Disclaimer: Always call your local restaurant before going to make sure they offer the same deal. I contacted my local restaurants to confirm some deals, but not every location will have the same offers.
Kids eat 100% free at these 14 restaurants. Deals vary by location. Many have age restrictions and happen only on certain days of the week.
I couldn’t find any mention on its official site, but I reached out to Beef ‘O’ Brady’s on Facebook. The chain informed me that many of its restaurants have kids-eat-free nights on Tuesdays, although participation varies by location.
On Mondays, kids eat free with the purchase of an adult entree at Bennigan’s. I called a local restaurant to confirm this; make sure to double-check with your location.
Kids eat free every Wednesday at Bertucci’s with the purchase of an adult entree of $10.99 or more. Kids menu choices include pizza, pasta and even a healthy grilled chicken salad.
My local Bob Evans confirmed that kids eat free Tuesdays after 4 p.m. with the purchase of an adult entree. Bob Evans’ kids menu is also pretty adorable, as it features pancakes arranged to look like a cute little pig, Little Piggy Hotcakes.
On Mondays and Tuesdays, kids 10 and under eat free at Cody’s Original Roadhouse with the purchase of an adult entree. The limit is two kids per adult entree. Choices include a cheeseburger, chicken tenders, a pulled pork sandwich or pepperoni pizza, plus a side of fries.
Kids eat free at Denny’s every Tuesday from 4-10 p.m. Your kid can choose anything from pancakes to spaghetti for their free Tuesday night meal. Denny’s has a pretty generous kids menu — options range from dinosaur-shaped chicken nuggets to a Jr. French Toast meal.
At Dickey’s Barbecue, get one free kids meal Sundays with a $10 purchase per adult. You guys know about the free soft serve at this place, right?
Every Wednesday from 3:30 p.m. to close, kids eat free at East Coast Wings and Grill. You get one free kids meal per adult entree.
On Tuesdays, kids eat free at Genghis Grill. Menu choices include teriyaki fried rice and a Future Warrior Bowl. I called my local franchise to confirm this.
OK, hear me out on this one: IKEA has delicious food. So why not get free food for your kids while dealing with the labyrinth that is the IKEA showroom? Head to IKEA on a Tuesday and score up to two free kids meals with the purchase of one adult entree.
On Tuesdays, kids 12 and under eat free with the purchase of a $5 adult entree at Moe’s. Kids meals include mini burritos and quesadillas, and they come with a small drink and cookie.
At locations in South Dakota and New York, kids 8 and under eat free all day on Mondays. All Quaker Steak locations provide free goldfish for toddlers upon request.
Every Tuesday from 5 p.m. to close, kids eat free at Ruby Tuesday. This deal is limited to one free kid entree per adult entree purchase. They can enjoy the garden bar or choose from one of the kids meals, such as tomato-basil pasta or mini cheeseburgers.
Kids 12 and under eat free all weekend at Steak ‘n Shake. Get one dine-in kids plate for every $9 you spend. Let the kiddos enjoy a free steakburger or chicken fingers while you savor a classic milkshake.
These three restaurants don’t offer complete free food for kids, but it’s pretty darn close. With deals ranging from just 99 cents to $1.99, here’s where kids can almost eat free.
My local Applebee’s confirmed that kids eat for 99 cents on Tuesdays from 4-9 p.m. with the purchase of an adult entree.
Tuesday night at Fazoli’s is kids night, which means you can score a kids meal for only 99 cents with the purchase of an adult entree from 5-8 p.m. This cheap kids meal includes a pizza or pasta with a breadstick and drink.
My local Golden Corral confirmed that kids eat for just $1.99 on Wednesday nights.
Jacquelyn Pica is a junior writer and SEO specialist at The Penny Hoarder.
This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.
When I was first dating my now-husband, the first meal I ever cooked for him was lasagna.
I was by no means an accomplished cook, but my stepmother had taught me how to make a few basics, including a kick-ass lasagna. Back then, it featured ground beef and not too many veggies.
Then, about eight years ago, I decided to go vegetarian. I knew I needed to tweak my lasagna recipe and find a way to make it just as tasty as before but without meat.
After reading thousands of recipes for inspiration, I finally came up with a combination that is easy to make and tastes amazing. It’s a hit with my meat-eating husband — and my super-picky toddler.
You can easily change the ingredients for this lasagna depending on what you have on hand.
I’ve used leeks, zucchini, yellow squash, spinach and even sweet potatoes in my recipe. The main thing to remember is to keep the quantities around the same. So, maybe you nix the mushrooms and use zucchini instead or ditch the shredded carrots and throw in some shredded sweet potatoes. The beauty of this recipe is it’s easy to make substitutions depending on what’s in season.
You also might notice that I use whole-milk ricotta in my recipe. If you want to make this recipe lower in fat, stay away from fat-free ricotta. I tried making the lasagna with the fat-free stuff and found it produced a weird texture that made the lasagna dry and pretty gross.
If you want to reduce this meatless lasagna’s calories, use low-fat cottage cheese instead of ricotta and ditch the egg.
Ingredients
Servings: 8 to 10
1 tablespoon olive oil: 10 cents
1 onion, chopped: 49 cents
4 garlic cloves, minced: 24 cents
1 bell pepper, chopped: 99 cents
8 to 10 ounces mushrooms, sliced: $1.99
2 teaspoons dried basil and oregano: 32 cents
1 teaspoon dried thyme: 10 cents
Salt and pepper to taste
2 15-ounce cans diced tomatoes: 99 cents
1 6-ounce can tomato paste: 49 cents
16 ounces whole-milk ricotta: $2.99
1 egg: 17 cents
½ cup parsley: 99 cents
½ cup Parmesan cheese, shredded: 89 cents
1 ½ cups mozzarella cheese, shredded: $1.09
1 12-ounce box lasagna noodles: $1.49
Total: $13.33
Cost per serving: $1.33 to $1.67
Saute the onions and bell pepper in olive oil for about 10 minutes, or until the onions start to look translucent. Add 3 cloves of minced garlic and stir to combine, cooking for another 2 to 3 minutes.
Add the mushrooms to the mixture and saute for another 5 to 7 minutes, or until the mushrooms have reduced in size by about half. Add the diced tomatoes and mix thoroughly, then add the tomato paste and stir well to combine the paste with the rest of the sauce. Add the herbs, salt and pepper to taste, and mix well.
Cook for 25 to 30 minutes, or until the sauce is warmed through and delicious (tasting is highly encouraged).
Meanwhile, grab a 9-by-13-inch pan and heat your oven to 375 degrees Fahrenheit. Mix together the ricotta, egg, parsley, Parmesan cheese and ½ cup of mozzarella cheese in a medium bowl and set the mixture aside. Once the sauce is ready, set up your lasagna-making station with your pan, sauce, ricotta mixture, lasagna noodles and mozzarella cheese close by.
Ladle a couple spoonfuls of tomato sauce into the pan and spread it out to cover the bottom. Add 3 to 4 lasagna noodles, then top with half the remaining tomato sauce and ½ cup mozzarella. Add another layer of noodles, then spread the entire ricotta mix over the noodles and top with more noodles. Finally, add the remaining tomato sauce and top with the remaining ½ cup of mozzarella.
Cover the lasagna pan with aluminum foil and pop it in the oven for 30 minutes. Remove the foil and bake uncovered for another 15 minutes, or until the mozzarella on top starts bubbling.
This recipe makes 8 to 10 servings depending on your hunger level. To make it go further, steam some broccoli and carrots to serve on the side or throw together a quick side salad. Enjoy!
Catherine Hiles is a Dayton, Ohio based editor, writer, runner, mother and amateur cook. She likes to spend her weekends running really far and then eating all the food.
This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.
