Crush Your 2016 Resolutions: 23 Strategies to Help You Save Money and Meet Your Goals

Whatever your New Year’s resolutions are, you’re a Penny Hoarder.

No matter the resolution, you’d probably like to spend less money accomplishing it, right?

To help, we’ve rounded up some tips and tricks for saving money on the most common New Year’s resolutions.

Whether you want to eat healthier or travel more, here are 23 ways to do it more cheaply.

Quit Smoking

We don’t need to tell you how much money you’ll save by quitting smoking — you already know.

Instead, here’s how to save money while quitting smoking.

1. Get Free or Discounted Smoking Cessation Aids

If you want to try the patch or gum, look online for coupons before making your purchase.

Many state-supported health campaigns also provide free smoking cessation aids, as well as other resources and support.

Find a full list of coupons and state campaigns here.

2. Join a Free Support Group

If you want to quit cold turkey, it might be smart to join a free support group.

Try in-person groups like Nicotine Anonymous, or apps and virtual forums like quitSTART and The EX Plan.

3. Enroll in a Class With a Money-Back Guarantee

Have you heard of Allen Carr’s Easyway to Stop Smoking seminar?

Friends of mine have had success with this class. It guarantees you’ll quit smoking — or get a full refund.

You do have to pay $450 upfront, but you’ll quickly make the money back if and when you stop buying cigarettes. And, if you sign up at least one month ahead of time, you can often get a $50 early bird discount.

4. Get Paid to Quit

It might sound crazy, but you can actually get paid to quit smoking.

Sponsored by the National Cancer Institute, WebQuit doesn’t only provide support and resources — it’ll pay you $105 to take surveys while you quit.

Lose Weight

Losing weight helps you feel better — both physically and mentally. It could also lead to reduced medical costs down the road.

Here’s how to save money while losing weight:

5. Find Free Ways to Exercise

You don’t need to the gym to get your sweat on. (Though we do know of a way to get into 24 Hour Fitness for free!)

Even if you live somewhere cold, you can exercise with high-quality home workout YouTube channels, or these 11 cheap or free winter workouts.

6. Do a Discounted Downward Dog

Yoga is my favorite way to exercise. Not only is it a fantastic workout, it also helps me clear my mind.

The only problem? It can be expensive. If you want to find yoga on the cheap, here are 10 creative ways to enjoy free or low-cost classes, and where to find the best free online yoga classes.

Or, if you really love yoga, become a yoga teacher.

7. Try Classpass or Groupon

There are always discounts for local gyms and fitness studios on Groupon.

Or, if you live in a major metropolitan area, try Classpass. It lets you work out at several different studios each month.

8. Get Paid to Exercise

There are few better motivators than money.

Here are 17 creative ways to get paid to work out — plus a guaranteed way to earn big bucks just for losing weight.

Travel More

Want to travel more this year, but afraid it’s going to cost too much?

9. Save on Flights, Lodging and More

Rather than list all the ways you can travel on a budget, I’ll direct you to my comprehensive post: 16 Ways to Save on Travel in 2016.

Eat Healthier

Eating healthier comes with myriad benefits.

Not only will you feel and look better, but you’ll also save money by eating out less frequently.

10. Hack Grocery Coupons and Apps

People often complain coupons are only for processed food.

But The Penny Hoarder founder and resident couponing expert Kyle Taylor knows lots of secrets for finding discounts on healthy food. Check out how he got almost $50 in groceries for under $5.

Or, read about how these couponing moms still manage to eat healthy:

• This Mother Rarely Pays for Groceries. Here’s Her Couponing Strategy
• How Couponing Derailed This Mom’s Eating Habits — and What She Did About It

11. Get Paid to Watch Cooking Shows

A commonly cited reason for eating out all the time? “I don’t know how to cook.”

It’ll no longer be a valid excuse after you get paid to watch cooking shows. (Yes, really!)

12. Find Organics on the Cheap

Eating local and organic doesn’t have to mean spending a ton of money.

From sponsoring a farm animal to joining a CSA, these two posts should give you some smart ideas:

7 Ways to Fit Organics Into Your Grocery Budget

How One Writer Eats Local, Organic Food for Just $300 a Month

13. Subscribe to Budget Food Blogs

With all the cooking blogs out there, you have no reason not to try cheap and healthy recipes this year.

Some of my favorites are $5 Dinners and Budget Bytes.

You’ll also learn some fun cooking techniques here at The Penny Hoarder, like how to make a month’s worth of freezer meals for less than $300.

14. Get Cookbooks From the Library

Though recipes abound on the internet, sometimes you just want to leaf through a cookbook…

But you don’t want to invest in one without trying it first.

My solution? Check them out of the library — a free way to learn lots of new recipes!

Get Organized

Want to finally get on top of everything this year? Getting organized can undoubtedly save you money.

Here’s how to do so without spending a closetful of cash:

15. Buy Discounted Organizers

One of the easiest ways to clear clutter is to buy physical organizers: folders, plastic tubs and the like.

They don’t have to be expensive, though. You can often find used ones at garage sales and thrift stores.

Or, purchase clearance items at retailers like Bed Bath & Beyond and Overstock. Both offer coupons when you sign up for their email lists.

16. Grab a Tax Break

Getting rid of all your extra stuff?

Be sure to record what you donate to the thrift store. This time next year, you’ll get a nice little tax write-off.

Spend More Time With Family

Spending time with loved ones doesn’t have to be costly. There are plenty of ways to get in some QT — without spending a dime.

Even better, we’ve got a whole list of ways you can earn money while spending time with family!

17. Participate in Hundreds of Free Activities

Whether you have kids or not, here are some free activities sure to please:

• 100 Free Summer Activities for Kids, Adults and Everyone In Between

• Don’t Let the Weekend Destroy Your Budget: 102 Free Activities

• Need a Fun and Free Activity? Try Geocaching

• 16 Free or Low-Cost Activities for Kids

18. Exercise Together

Why not kill two birds with one stone? If you want to get in shape and spend more time with your family, try working out together.

Whether it’s a walk, hike or round of pickup soccer, getting in shape with your family is free and fun.

19. Get Netflix for Free

What’s better than a family movie night?

Instead of paying for a costly cable subscription, subscribe to Netflix. You’ll have thousands of movies at your fingertips.

Best of all, we’ve figured out how to get Netflix for free!

20. Buy Board Games

Board games rock because once you collect a few, they’ll provide entertainment for years to come.

Walmart and Target often have sales on board games. But be sure to visit Ebates first — you can get 1-5% cash back on all your purchases.

Plus, if you get really good, you could even earn money playing in Monopoly tournaments!

Learn Something New

Smart Penny Hoarders know learning something new can often lead to extra money in your pocket.

Here’s how to boost your brainpower on a budget:

21. Check Your Community College

I’m amazed by how many courses my local community college offers.

You might think they only have academic courses, but they often have offerings as wide-ranging as belly dancing and cake decorating.

And if you’re a resident, they’re often really affordable.

22. Take a Free Online Course

Thanks to the internet, you can learn anything from nutrition to computer programming — and many courses are available for free.

OpenCulture and Coursera are two of my go-to sites for finding free classes.

23. Barter Your Skills

Just because we live in a cash economy doesn’t mean you can’t barter.

If you know someone with a skill you’d like to learn, think about what you could offer them in return. Do you know how to speak Spanish? Can you brew beer?

Find a skill to trade and learn something new — without spending a dime.

The beginning of the year is a great time to improve your life and your finances. With these tips, those two goals don’t have to be mutually exclusive!

Your Turn: What’s your New Year’s resolution? How do you plan to save money on it?

Disclosure: We don’t hesitate to pick pennies off the sidewalk when we spot them. But the affiliate links in this post help our earnings grow even quicker. Plus, it’s a lot cleaner than sidewalk money.

Susan Shain, senior writer for The Penny Hoarder, is always seeking adventure on a budget. Visit her blog at susanshain.com, or say hi on Twitter @susan_shain.

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Visit a National Park for Free on One of These 16 Days in 2016

If you’re already looking ahead to road trips or family vacations this year, here’s one way to do it on the cheap.

While most of the 409 national parks in the U.S. are free to use anytime, 127 of them charge an entrance fee of anywhere between $3 and $30. To encourage travelers and campers to visit new places, the National Park Service waives this cost on 16 fee-free days:

• January 18: Martin Luther King Jr. Day

• April 16 through 24: National Park Week

• August 25 through 28: National Park Service Birthday

• September 24: National Public Lands Day

• November 11: Veterans Day

Some of the nation’s most popular parks are among those that normally charge a fee. Fee-free days are an opportunity to see places like the Grand Canyon, Yosemite, Yellowstone, Death Valley and Crater Lake and save upwards of $30.

Not the outdoorsy type? Even some national historic sites, like Vanderbilt Mansion in New York, are included.

If you’re interested, you can find all participating parks by state, or search through the full list of national parks, including those that are free anytime, to find a park near you (or your next destination!)

Note that you may still face some fees for things like camping, parking, reservations or concessions. The fees waived on fee-free days include entrance fees, commercial tour fees and transportation entrance fees.

(But if you are camping, here are a few ways to make your trip even cheaper!)

More Ways to Use National Parks for Free

If you can’t make it on a fee-free day, you may be able to get free or discounted entrance to national parks year-round some other way.

The National Parks Service offers an $80 annual pass that covers entrance to national parks, lands managed by the Bureau of Land Management and other sites.

Military members can get the annual pass for free.

Through the national Every Kid in the Park program, fourth-graders can get a free annual pass for their families. Educators can also get involved through this program, obtaining free passes to take students on a national park field trip.

Seniors age 62 and older can buy a Lifetime pass for just $10 in person at a federal recreation site, or for $20 through the mail or online.

People with disabilities can get a free Access pass in person, or for a $10 processing fee through the mail or online.

Both the senior Lifetime pass and the Access pass offer a 50% discount on some amenity fees for things like camping, swimming, boat launching and specialized interpretive services.

Volunteer with participating federal agencies for at least 250 hours, and get a free Volunteer pass.

If you want to learn while you travel, you can apply for an Artist-in-Residence program with the National Park Service and stay at a participating park for free while you work on your next project.

However you do it, consider including national parks or historic sites in your travel plans this year. For families — and curious travelers of all ages — it’s a fun, educational and affordable way to spend a vacation.

With more than 400 to choose from, there’s probably one not far from you!

Your Turn: Will you visit a national park this year?

Dana Sitar (@danasitar) is a staff writer at The Penny Hoarder. She’s written for Huffington Post, Entrepreneur.com, Writer’s Digest and more.

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Frugality, Financial Independence, and Social Situations

Maggie writes in:

How do you handle social situations with family and friends who read The Simple Dollar and know about your financial state? Does it make things awkward? Do they expect you to pay?

This started off as a response to a question for yesterday’s mailbag, but as I kept thinking about the question and adding to it, I realized that I wasn’t simply writing about me. I was actually writing about every frugal person out there, every person who is actively spending less than they earn and using that difference to build a bright financial future for themselves. The only difference is that I expose my own financial progress and spending preferences right out here in the open on The Simple Dollar, but that honestly isn’t that big of a difference.

The reality is that we live in a country where 76% of us are living paycheck to paycheck. Most people are spending every dime that they bring in and not saving for the future and it is actually relatively unusual that someone saves a significant amount for their own future.

The tricky part is that the fact that someone is following a different financial path than the norm can sometimes seep into social situations of all kinds and create problems, whether real or imagined. I have actually seen this in my own life and I’ve definitely received reader questions about this over the years.

So, the rest of this article highlights some common social situations that people who are frugal or financially independent or on their way to being financially independent may find themselves in and how to handle it.

The most important thing to note is that most of the time, the fact that you’re on a different financial path won’t matter at all in social situations. The majority of the time, the other people won’t know about it, and at other times they won’t care.

The focus here is on those remaining situations, where your finances may actually have an impact on a social situation.

Splitting a Check

Most of the time, when I go out to eat or do something with friends, the expectation is that we will all split the check fairly and evenly. I’ll pay for my food, you’ll pay for your food, and we’ll move on from there.

You would think that this would be a completely understood social norm… but it’s not. I have gone out to eat with very wealthy friends (before our current steps toward financial independence) and found the check situation to be a little awkward. I’ve also recently gone out to eat with a friend with little money (currently a college student) who is a Simple Dollar reader and it was again slightly awkward.

The reason for this is simple: sometimes, people will bring a mild assumption to the table that the person in the best financial shape should pick up the check. The reality is that if you’re frugal and spending less than you earn, there’s a pretty good chance this person is you, especially if you also have a decent income.

This is not an assumption that everyone shares, but it is an assumption that’s out there and is a bit prevalent.

Because of this, I adopt three simple rules for eating out with others and picking up the check.

First, I will always vocally say that we are splitting the check ore should be receiving separate checks unless trumped by the other two reasons. This quickly alleviates any uncomfortable conversations that might come about from splitting the check. If the other person is disappointed in this, then that’s really not my problem. If it does come up in conversation, simply handle it by saying, “Look, I view this meal/activity as something we’re doing as equals. I don’t want it to be any other way.”

Second, I will pick up the check for someone who is doing me a favor by doing something together, providing advice, or helping with a project. These situations are pretty distinct from just doing something with a friend. If I’m getting a lot more value from the other person right now than that person is getting from me, then I am going to pick up that check. Again, I usually tell the server or cashier this as soon as it is reasonably possible. If the other person objects lightly, I just tell them this is my way of saying thanks for their help, but I don’t overrule a strong objection as some people really feel uncomfortable with others paying for them.

Third, I allow others to pick up the check if they insist on it. If someone simply insists on paying for my meal or my drink or my round of golf or my movie, I’m going to allow them to do so. It is not worth any kind of social disagreement to avoid it. Usually, if someone insists on paying for you, that’s because they feel good for having done so, and that’s not something I’m ever going to interfere with.

Eventually, if a friend becomes a close friend, it can become okay to talk about these things more openly. I have a small handful of friends with which I have directly discussed these things. We’ve usually quickly come to the agreement to just split all checks unless you’re doing something like buying someone lunch because they helped you out with something.

What if the others think you’re ripping them off because of all of the money you have? If they genuinely feel this way, then they don’t really understand you or your values very well and their personal greed is showing through. In both cases, that’s a person I would be less inclined to be friends with.

Giving Gifts

Sarah and I exchange holiday gifts with many different people, friends and relatives alike. It’s something that we both cherish because of the joy of giving a well-considered gift as well as the joy of opening one.

Of course, this can be a difficult thing when there is a large gap in the financial state of the people exchanging gifts. One gift giver might be in a very good financial state, while the other one is just getting by. Plus, there might also be an underlying assumption that the person who is in better financial shape might spend more on a gift in an exchange.

The solution to this is clear communication beforehand. If you’re thinking of giving someone a gift, talk to that person (or a parent) and set some simple boundaries for the gift. A price limit is a very good boundary to set, and it’s also worth noting if you’re making a gift. Just have this conversation in advance so that you’re not spending far more than would be expected by the other person.

We usually find that homemade gifts work very well in this regard. They work appropriately at a wide variety of valuations because homemade items often have different values and they can be bundled, too. If you make a variety of homemade items, as Sarah and I often do, you can bundle them in different ways to match what you think is a good expected value for the exchange. (I prefer to give consumable homemade items.)

Still, clear communication is at the key of making gift giving work when there may be particular expectations. Part of the reason for clear communication is to avoid putting someone else in a really awkward situation. For example, we recently included a new couple in a long-running gift exchange that we had been doing for many years. This exchange was largely fine, but it would have gone better with clearer communication on all parts involved.

The key thing to remember with a gift exchange is that the purpose is for everyone to feel happy at the end of it. If that’s not the case, then gift giving is rather purposeless. It should be all about the joy, and one way to ensure that is by simply having a brief conversation before the gifts are made or purchased.

Talking About Careers

At this point in my financial journey, when people ask me what I do for a living, I usually just say I’m a freelance writer.

However, what will I do when we actually reach our goal of full financial independence? At that point, I plan on dabbling in a number of things – charitable work, political volunteering, writing a novel, and so on. I’ll probably be doing a big mix of things all at the same time.

When it comes to small talk about “what I do for a living” at that point, I’ll likely just tell them about whatever I’m most passionate about at the moment. If I’m doing volunteer work and that’s my focus right now, I’ll describe the volunteer work without mentioning the pay. If I’m focused on a novel, I’ll say that I’m a nonfiction writer working on my first novel.

I’m a person that can’t sit still and thus “financial independence” is going to mean a variety of short “careers.” I think that many people who have the internal drive to pull off financial independence are going to be much the same way, and thus it makes sense to describe your job as being related to whatever “short career” you’ve chosen at the moment.

Talking About Finances

Every once in a while, I find myself in a conversation about money. People who know me and know that I write so much about money online – and particularly those who read The Simple Dollar – already know quite a bit about my financial state, so they take that as a given.

But what about conversations where the other people don’t know your financial state? In those situations, I recommend staying as vague as possible. You can easily carry on a conversation by focusing on financial facts that are independent of your own financial state and simply avoiding any revelations involving your own finances.

For example, it doesn’t matter how much you have saved to be able to comment on how prices are going up or how tax rates should go up or down. It doesn’t matter how much you have saved to be able to discuss the difficulty of paying back student loans or shopping for a car. It doesn’t matter what your financial state is to offer thoughts on how to invest money.

If you’re ever in conversation with people you don’t know extremely well and people are talking about very specific things involving their personal finances, just avoid that part of the conversation. Don’t participate. Don’t share. There’s no good reason to do so, as it doesn’t really cement any financial bonds. Some people might be fishing to see whether or not you’re wealthy, but that’s frankly none of their business and it will often be used against you if they find that you have saved money.

This is part of why I’m not extremely specific about the dollars and cents of our financial state here on The Simple Dollar. I don’t mind talking about the general state of our finances – we’re free from debt, we’re saving money for financial independence, we basically live off of one salary – and the tactics we use to improve that state, but the exact specifics are really only relevant to Sarah and myself.

Charity

There are a lot of good charities out there, many more than I can ever possibly support. Charities are doing good things in my community, my country, and all across the world. Whenever I hear about the good work that a charity does, I’m tempted to donate, which is something that can run in opposition to my goal of becoming financially independent. I’ve also had people come to me for donations simply because they’re aware of our financial state and thus believe that I’m going to be an easy “mark” for donations.

Because of that, I have set up a few guidelines in my life about giving to charities and carrying on conversations about charities.

First, my wife and I give a certain percentage of our income each year across all charities. This is something we decide together, at home, without any input from any charities. We talk about the things we care about most in our community, our country, and the world and we contribute money accordingly.

Because of that, we never agree to charitable donations in conversation. Ever. It’s simply not something that we do. We want to have the opportunity to research charities on our own and make our own decisions independently. We don’t mind being made aware of the overall mission of a charity, but that won’t convert to an immediate donation and we’re clear about that up front.

The exception to that is door-to-door sales and donation drives from neighborhood children, which we give to without hesitation. That’s because our own children will likely do the same in reciprocation and it’s an opportunity to help all children involved learn how to present themselves, describe a product, and build skills that will only help them in life.

Dating

If there’s one area where the issue of having a lot of money in the bank can cause some problems and real apprehension, it’s dating. It ties into many of the things described above, and yet goes beyond them.

For starters, on early dates, all you really need to share about yourself is your career, which you can describe as mentioned above. Describe your career as being what you’re passionate about at the moment if you’ve already achieved financial independence. If you’re not there yet, then this is simple – just mention your current job or career. That’s really all that needs to be said at this point.

Early on in a dating relationship, there is no reason to reveal the nuances of your financial state. There’s no need to go into any kind of detail about how you pay the bills each month or how much you have in your savings account or how much you have in your investments. Not only is it irrelevant, it’s also potentially unsafe to do so until you know the person pretty well.

Until then, you should behave as though you’re at least on the same financial level as the person you’re dating. Don’t overspend or underspend compared to that person. If you find that the level of spending that you’re doing is making you uncomfortable, whether it’s too little or too much, you’re already noticing something that might be a compatibility issue down the road.

I recommend behaving in much the same way as you would in your normal everyday life when on a date. If you’re not a big spender, don’t be a big spender on a date or else you’re going to give a wrong impression to the person you’re dating. They will think of you as a person who spends freely and will come to expect that from you. If that’s not what you do in the other areas of your life, then you’re bound to run up against some rough spots over time.

In fact, there’s no real reason to discuss financial independence unless it becomes a direct issue in your relationship for some reason. In other words, if you choose to move in with the person you’ve been dating, a conversation about how the bills will be paid is likely relevant here, and a person with sound financial sense will want to know that you’re going to be able to pay the bills, so that will likely be a time to reveal it. If you’re just dating, it really doesn’t matter how you’re able to afford those dates, so there’s no reason to discuss it.

In general, I believe that when you are dating, you should behave as normally as possible and not put on a “false front.” If you’re not naturally a big spender, don’t be a big spender. If you’re interested in certain things, don’t hide them. Be yourself, because if you’re not, you’re setting up some false expectations in the other person.

Final Thoughts

Most of the time, your financial state and financial practices really aren’t anyone else’s business. What you choose to reveal about your financial state is up to you.

If I have one central principle regarding financial situations and social situations, it’s this: when in Rome, do what the Romans do, and if you don’t feel comfortable doing that, then don’t go to Rome any more.

In other words, when you’re in a social situation, you should try to match the choices that the people around you are making. If you’re at a bar and people are buying rounds, buy a round. If you’re going out with a group and they all want to go somewhere expensive. go ahead and go.

If you find that this makes you uncomfortable, then that means that there is some degree of incompatibility between you and the other person or people in the group. That can be resolved with something as simple as a quick conversation where you suggest doing other things next time, but if that’s something that is rejected, it may mean that you should spend some time thinking about whether or not that relationship is one you want to continue to build.

I’ve found that these guidelines have helped me to navigate a lot of social situations that touch upon money, and I hope they’ll do the same for you.

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Gas Prices Predicted to Plummet, Could Bankrupt Oil Producers

Oil prices are getting closer to just $30 a barrel, the lowest they've been in 12 years.

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Clydesdale and Yorkshire launch £150 switching bonus, but how does it compare?

Helen Knapman

bank image.jpg

Current account holders can now earn £150 for free, as Clydesdale and Yorkshire banks become the latest to launch a new year switching incentive.

Current account holders can now earn £150 for free, as Clydesdale and Yorkshire banks become the latest to launch a new year switching incentive.

 Until 31 March 2016, current account holders who request to switch to any of the banks personal or private current accounts using the Current Account Switch Service, will get £150 if they also do the following:

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Be Your Own Boss with cabi

By Holly Reisem Hanna Are you ready to be your own boss and work from home? Are you unsure of how to get started? If you’re interested in a home business opportunity that mixes fashion and fun — cabi has what you’re looking for. Blending stylish clothing with personalized in-home fashion experiences, cabi gives Stylists […]

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Republicans Must Take a Stand for Kids and Minorities

The great Jack Kemp used to say about politicians that "voters don't care what you know until they know that you care." Republicans say they care about the poor and minorities, but do they really?

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Don’t Buy Powerball Tickets. Instead, Here’s How to Use That Cash to Make More Money

You know the odds are slimmer than being struck by lightning. Twice.

But you just can’t resist buying a ticket or two. Or five. Because after all, you can’t win if you don’t play.

Listen: I get it.

Even though I knew it was a waste of money, I spent $20 — $22.25, to be exact, after the cash-only gas station ATM fees — on Powerball tickets. Once the jackpot crossed the $1 billion threshold, I knew I would kick myself if I didn’t at least try.

A Guaranteed Way to Win the Lottery: Don’t Play

With mind-bogglingly slim odds, whatever money you throw at the lottery — be it $2 or $2,000 — is almost definitely a waste.

Instead, what if you invested that cash in a guaranteed way to make money?

Hey, it probably won’t pay out $1.4 billion — but I’d rather have a real $100 than an imaginary $1 billion any day.

Here are some better ways to make money with the cash you’re tempted to blow on Powerball tickets.

$2 — One Entry

Take that $2 and spend it on some chocolate mints to lay on the pillows in your spare room. Then, open your house to guests using platforms like AirBnB or Homestay.

Don’t have a spare bed? If you’ve got a way with words, buy yourself a cup of coffee and sit down to do some freelance writing for blogs that pay for guest posts.

If you’re not much of a writer, you could sip while you get rewarded for searching the internet, watching videos on Swagbucks, filling out online surveys, or cleaning up Google’s mess.

$10 — Five Entries

With $10, you could buy three cases of water to sell for $1 per bottle at a busy event.

Heck, on Jan. 13, there might be a hot, thirsty line of last-minute lottery ticket purchasers at the convenience store — though the shop owner might not be thrilled with your business if he’s selling bottled water, too.

$20 — 10 Entries

Got $20 in your pocket?

Hit your local thrift shop or flea market and find some awesome things to dust off, clean up and resell for a higher price.

$50 — 25 Entries

$50 is a pretty penny to spend on an idle daydream.

Instead, invest the money in learning a skill to jump-start your new career on a platform like Udemy.

Or make like this woman and start a whole business!

$100 — 50 Entries

If you’ve got a Benjamin in your hand, the possibilities are endless.

If you like the idea of not knowing exactly what it’ll become, why not go ahead and invest it? Apps like Betterment make it super simple.

While it’s not guaranteed cash, your odds are way better than your chance of winning the Powerball jackpot.

You could also take any of the ideas listed here to bigger, more lucrative heights. Check out how many businesses you can start with less than $100!

Your Turn: Are you going to buy Powerball tickets anyway? Don’t worry. We won’t tell.

Disclosure: Our friends stopped inviting us over because we were always digging for loose change between their couch cushions. We use affiliate links instead so we still get invited to a few parties.

Jamie Cattanach (@jamiecattanach) is a junior writer at The Penny Hoarder. She also writes other stuff, like wine reviews and poems.

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Get These Right, and America Could See a Dramatic Turnaround

The last decade of financial upheaval has been one of the worst in our nation's history. Is there any way out of the mess we're in? Steve Forbes says there is -- and he has a plan.

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Cars We Remember: The Mustang that didn’t get away

Q: During the spring of 1964 I was an Army National Guard enlistee doing my active duty at Fort Ord, California. In April of 1964 Ford introduced the Mustang, and one of my buddies and I were on a three-day pass and drove to Los Angeles in my old 1953 VW to see the new Mustang. We went to a Ford dealer in San Fernando and while my friend John checked out the Mustangs I was more interested in the 1930 Ford Model A coupe they had on display as I don’t recall being particularly [...]

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Silvio Calabi: Volvo XC90 ushers in the future

This is what we’ve been waiting for, the first truly new Volvo since they went to China. Well, since Ford sold Volvo to China’s Geely Group in 2010; Volvo is still in Sweden, and clearly its traditional culture of safety and technology expressed in Scandinavian Moderne design remains unchanged. So how new is the new XC90? It’s so new I wonder why they didn’t call it the XC100. It’s so new I had to consult the owner’s manual to open the glove [...]

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Want to Earn Up to 120% More From Your Job? Here’s Where You Should Move

Wondering how to make more money? You might want to consider relocating.

Sure, moving is expensive and a hassle — but what if it meant a significantly higher paycheck? It might be worth it then, right?

The folks at Business Insider looked into it and discovered the most disproportionately high-paying job in each state.

In other words, they created a map outlining “the occupation in each state with the biggest percent difference between the state average salary and the national average salary.”

Their findings surprised me, so I wanted to share them with you.

Here’s Where to Move If You’re a…

Welder: Alaska, where you could earn 80% more than the national average: $71,910 vs. $40,040.

I’d bet this figure includes a lot of underwater welders, which means you’ll need to be certified in SCUBA.

Printing Press Operator: Washington, D.C., where you’ll be in the heart of national politics, and potentially earn 120% more than the national average: $80,690 vs. $36,700.

Lifeguard: Hawaii, where average salaries are 73% greater than the national average: $36,280 vs. $21,030. Plus, you get to live in Hawaii!

Tile or Marble Setter: Massachusetts, where the average tile or marble setter earns a whopping $75,050 — 70% more than the rest of the country’s $44,160.

EMT or Paramedic: Washington, where you’ll save lives while earning 65% more than the national average: $57,850 vs. $35,110.

Of course, you might need to account for a higher cost of living in many of these states, but if you’re itching for a change, this research might be just the excuse you need!

For the full list and map, head over to Business Insider.

Your Turn: Is your job on the list?

Susan Shain, senior writer for The Penny Hoarder, is always seeking adventure on a budget. Visit her blog at susanshain.com, or say hi on Twitter @susan_shain.

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Pet Cost Calculator

Pet ownership represents a large emotional – and financial – commitment. Whether you buy from a pet store or a breeder, adopt an animal from a shelter, or take in a stray, initial costs are just the beginning of the story.

What Does Owning a Pet Really Cost?

If you want to get a more concrete idea of what a dog or cat may cost you during the first year, our pet calculator can help give you an estimate. For instance, a dog that needs standard first-year medical care, grooming every two months, regular food, and other supplies could run roughly $835. Throw in premium food, a fenced backyard, and group training sessions, and you could be looking at a $2,550 investment.

One important thing to note about these numbers: They include typical preventative health care (yearly checkup, shots, flea/tick prevention), but not the cost of spaying or neutering your cat or dog. If that’s not something that’s already done for you when you get your cat or dog, you could be looking at an added $200 for a medium-size dog or $145 for a cat, according to the ASPCA.

Pet Cost Calculator

To get a better idea of total estimated costs for your pet, use the calculator below.

The cost of dog ownership

Dogs can be fantastic, faithful companions — but they can also be an unexpectedly large drain on a household’s budget if you fail to think ahead.

Remember to factor in your dog’s lifespan when you’re thinking about costs. If you get a puppy or young dog, you may have a faithful friend for roughly a dozen years, according to PetMD. So if you’re paying $695 annually on pet-related expenses for your medium-size dog, that’s $8,340 over Fido’s lifetime — and that doesn’t include the one-time costs incurred when you first buy the dog that you can estimate with our calculator.

If you want a dog, one of the first decisions you’ll face is whether to buy a puppy from a pet store or breeder, or adopt a dog from a shelter. Choose wisely, because it will have a big impact on your bottom line.

Buying a puppy: Pet store or breeder?

If you have your eye on a specific breed, you’ll probably be buying a puppy. There are two major routes to do so: Pet stores and breeders.

Pet stores may be a less expensive option. You’ll shell out an average of $800 for a pet-store puppy, according to Bankrate. But as many animal lovers will caution, buying a puppy from a pet store might not be worth the initial savings. The pet store probably bought that pup, cute as it may be, from a high-volume breeder that is primarily concerned with pumping out animals — not whether those animals are healthy. Accordingly, pet-store puppies are at greater risk for a range of problems, from severe aggression to heart conditions.

If you go with a professional breeder, you could pay nearly $2,000 (or even more), depending on a host of factors, including breed and litter size. But reputable breeders make sure pups’ parents are in tip-top shape — both from a medical and behavioral standpoint — reducing the likelihood that you’ll have to shell out a huge amount for unexpected issues later in your dog’s life. Often, a breeder will even take the puppy back if you decide it’s not a good fit for your home.

One way to save a buck is to go with a nonprofessional “backyard breeder” that may match or even undercut the price of a pet store. However, many of the concerns here are similar to those when buying from a pet store: The puppies may have been bred from parents that weren’t screened for medical or behavioral issues, and they may not get proper veterinary care after birth. Living conditions may also be questionable, and you probably won’t be able to return the puppy if you encounter problems.

Adopting a puppy from a shelter

Getting your dog from a shelter is a much cheaper (and, some would argue, more humane) way to go. Adoption fees vary greatly by area, shelter, and the age of the pet you’re adopting (puppies and younger dogs are typically more expensive than older dogs).

One of the biggest shelters in my hometown of Knoxville, Tenn., charges as little as $50 for older dogs, and up to $150 for younger ones. Our local Humane Society charges a flat $150 for most dogs, or $200 for puppies. Breed-specific shelters and rescues were a bit more expensive, charging up to $400 for dogs.

Why pay at all to adopt that dog? You’re helping the shelter cover the cost of spaying or neutering the animal, shots, a microchip, an initial exam, and other medical costs such as heartworm or flea medications. In most cases, even if you got a dog for free, you would pay more to do all that on your own.

The cost of cat ownership

If you’re more of a cat person, there’s some good news for your budget: Cats are almost always initially cheaper than dogs. According to our calculator, a cat that needs standard first-year medical care, grooming every few months, regular food, and supplies will cost about $665 the first year. The ongoing annual cost of ownership may also be a bit lower: According to the ASPCA, you’ll pay about $670 a year for food, litter, medical care, and other costs, while a dog may cost as much as $875.

Remember to factor in lifespan, though. According to PetMD, you may have your cat a bit longer than your dog. The average lifespan of a cat is 10 to 15 years, but the lifespan for an indoor-only cat is likely to fall at the far end of that range. So paying $670 a year for 15 years means your cat could cost you more than $10,000 over its lifetime — no small drop in the bucket.

Getting a kitten: Buy or adopt?

Again, one of the first decisions you’ll encounter is how to get your new cat: From a pet store or breeder, or from a shelter. The pet store will be cheaper than the breeder, but you have the same risks that apply to dogs: The pet-store kitten is almost certainly at greater risk for medical or behavioral problems that will cost you more over the long run.

Certainly, it’s pricey to buy from a breeder. Like dogs, you’ll pay more depending on breed, demand, and where you live, but for the most in-demand breeds, you could pay more than $1,000. Again, you’re better off avoiding “backyard breeders” who undercut professionals’ prices, as they probably don’t screen the parent cats for problems.

If you go with a shelter, cat adoption fees are often going to be lower than they are for dogs. Our Humane Society charges a flat $75 for most cats (dogs are double) or $125 for kittens (puppies are $200). The fee covers the cost of spaying or neutering, microchips, shots, and a follow-up visit to a vet after adoption.

How to Save on Pet Care Costs

You’ve probably heard this old saying: “An ounce of prevention is worth a pound of cure.” That’s particularly true when it comes to pets. Spending a little where it counts can save you a lot of money in the long run. Here are some dos and don’ts for saving on pet care:

• Look at places other than your veterinarian for routine medications. It’s easy to go through your vet for all pet medications. It’s also expensive. Many common meds, such as flea or tick prevention and heartworm pills, are available online or at big-box stores for less.
• Don’t skip your pet’s annual checkup with the vet. If your vet can catch and treat a problem early on, you will invariably pay much less than you would by shelling out for care if an illness gets to an advanced stage.
• Consider grooming your pet yourself. Grooming may seem like a luxury, but it can also help you spot potential medical problems such as eye or ear infections. Each session with a dog groomer can cost between $30 and $90, with smaller, shorter-hair breeds costing less, according to Angie’s List. If you take your pet once a month or even every other month, that can add up fast. The ASPCA provides DIY grooming tips for both dogs and cats. Just be sure to start early and be consistent to keep your pet used to the process.
• Don’t overspend on pet food. While you may not want to buy the absolute cheapest pet food on the market, the vast majority of pets do just fine on non-premium chow. Brands that tout special health benefits probably aren’t worth spending extra unless your pet has a proven need, experts say. Other ways to save include shopping at big-box stores instead of pet stores, as well as buying in bulk, Consumer Reports advises.
• Be wary of overfeeding your pet. About 25% of dogs and a third of cats are overweight or obese, putting them at higher risk of costly medical problems. Be sure to consult your vet on proper portion sizes — chances are, you can save a nice chunk of change by sticking to what’s best for your pet. Be especially careful of providing high-calorie treats and human food.
• Get creative when it comes to toys. You probably don’t need to buy expensive – or maybe even any – toys for your pet. Your cat may be happy to bat around a plastic ring from a gallon of milk or a foil ball; your dog is probably content to tug on an old braided dish towel or chase a tennis ball.

How to Pay for Pet Emergencies

It’s easy enough to budget for routine vet visits, but unexpected medical costs can be one of the biggest budget-busters of pet ownership. Treatments for a pet’s sudden illness or injury can easily cost hundreds and even thousands of dollars — particularly shocking to those of us who have medical insurance that insulates us from the true cost of our own healthcare.

Pet insurer VPI provides a list of 10 common medical conditions for dogs and cats, and the average amount it costs to treat them. The most common canine condition, treating a benign skin mass, averaged $552 — but an ACL rupture, also common, could run more than $3,000. More exotic health problems can cost much more to treat, such as this dog’s $6,000 gallbladder removal.

Unfortunately, prices like these mean pet owners may find themselves in a terrible bind: Cough up thousands in an effort to save the animal’s life, or put them to sleep. If that doesn’t sound like a pleasant choice, make sure you plan ahead by either buying pet insurance, saving up for unexpected pet costs on your own, or both.

Pet insurance: Is it worth it?

The pet insurance industry raked in an estimated $870 million in 2014. What you’ll shell out to insure Fido or Fifi each month varies widely depending on factors such as your pet’s age and how comprehensive you want the policy to be, but plans begin anywhere from $17 to $64 a month with Nationwide, parent company of VPI.

But is buying pet insurance worth it? That’s a good question — and there’s no right answer. Even if you’re willing to pay the monthly premium, there are several potential “gotchas” you’ll need to consider:

• You still have to pay up, at least at first. You usually still need to pay upfront for your pet’s treatment. If you have pet insurance, you’ll then be reimbursed for covered costs after submitting a claim.
• Your premium isn’t all you’ll pay. Just like regular health insurance, you’ll still have a copay or deductible — possibly both. And while your own major medical insurance can no longer put a cap on the amount of care you receive in a given year, Fido can only receive so much before you’re on the hook again.
• Pre-existing conditions aren’t covered. A pet insurer won’t shell out for treatment of any condition that your pet had before the policy was in effect. Seems standard enough, but be sure you know exactly how the policy defines pre-existing conditions.
• There will be other exclusions. Even if your pet doesn’t have a pre-existing condition, many pet insurers specifically exclude problems that your pet may be particularly prone to, such as hip dysplasia or hereditary and congenital problems.

Save up on your own

Yes, pet insurance can help cover your pet’s unexpected bills — but it’s costly, and it comes with plenty of potential pitfalls that may leave you high and dry. If you can afford $35 a month for pet insurance, you might consider saving that money in your own pet emergency fund instead. Do that from the time your pet is a puppy or a kitten, and after five years you’ll already have $2,100 to put toward medical bills. Be sure to keep saving, though, since your pet is more likely to have problems as it ages.

A word of warning: If you already have your own emergency fund — as you absolutely should — avoid dipping into it for pet expenses. That money should be firmly earmarked for your own financial emergencies, such as keeping a roof over your head if you lose your job. If it’s so amply padded that you feel comfortable using some on your pet, you may still want to make a separate pet account. That way, “some” won’t become “almost all,” and Fido won’t be responsible for your own potential financial crisis.

Related Articles:

• How Much Should You Spend on Your Pet?
• Health Care for Buster: All About Pet Insurance

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Savings update: top-paying accounts begin to close

Sylvia Morris

Flying piggies.jpg

Fixed-rate deals are falling with several banks closing their top-paying accounts to new savers.

Fixed-rate deals are falling with several banks closing their top-paying accounts to new savers.

The best one-year deal comes from RCI Bank at 2.06 per cent before tax (1.65 per cent after).

With this French-owned bank your money is covered by the European compensation scheme, which gives €100,000 (around £74,500), rather than the UK scheme.

Savings update: top-paying accounts closing

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Fixed-rate deals are falling with several banks closing their top-paying accounts to new savers. The best one-year deal comes from RCI Bank at 2.06 per cent before tax (1.65 per cent after). With this French-owned bank your money is covered by the European compensation scheme, which gives €100,000 (around £74,500), rather than the UK scheme. Paragon Bank pays 2.01 per cent (1.61 per cent) and Aldermore Bank 2 per cent (1.6 per cent). For two years the best deal is 2.35 per cent (1.88 per cent) with RCI Bank, or 2.25 per cent (1.8 per cent) with Close Brothers. Easy access accounts On easy-access accounts you can earn 1.65 per cent (1.32 per cent) at best from internet accounts run by both RCI and ICICI banks. Virgin Money pays 1.41 per cent (1.3 per cent) both online and in the high street, but you are restricted to making three withdrawals a year from your account. On easy access cash Isas Coventry Building Society pays a top 1.5 per cent, while Virgin Money has relaunched its Defined Access Isa at 1.41 per cent. It limits you to three withdrawals a year. The best one-year fixed rate cash Isa comes from Tesco Bank with a tax-free 1.75 per cent, followed by Virgin Money, Shawbrook Bank and Leeds Building Society all at 1.65 per cent. For two years the top rates is 2 per cent from State Bank of India (UK), while Leeds Building Society pays 1.9 per cent.

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Here’s How to Get a Brand-New Nursing Pillow for Half the Price of a Boppy

I’m not a mom, so I don’t know too much about babies.

One thing I do know from being around my friends’ babies? They eat.

All the time.

And when they’re hungry, my friends always reach for their nursing pillows.

If you have a newborn — or are expecting a new addition — you might want one, too.

Well, I just found out about a way to get a free nursing pillow. All you have to do is pay shipping and handling.

Keep reading to learn more…

How to Get Your “Free” Nursing Pillow

The nursing pillow is available from NursingPillow.com.

Just add one of its basic nursing pillows to your cart (value: $39.95). Then enter coupon code FREE4MOM.

This takes $40 off your total, but you still need to pay shipping and handling.

The site quotes $14.99 for “economy shipping,” which takes 15-25 days, plus a $2.95 fee for “Exchange and Return Insurance,” which basically allows you to return the pillow if you don’t like it.

Your total should come to $17.89 — about half the price of the ultra-popular Boppy.

Though it’s a great price for a nursing pillow, this product has received some negative feedback online.

Complaints include: It’s not firm enough, doesn’t have a removable cover and it’s too small and tears easily.

If you’d rather purchase a Boppy or other brand-name pillow, check on baby forums, local mom groups and in thrift stores. You can often find used Boppys for $15 to $20. Since they have washable covers, you don’t even need to worry about germs.

But if you’re in need of a nursing pillow and want to get a new one at a greatly discounted rate, this one might be worth checking out.

Your Turn: Do you want to try this nursing pillow?

Disclosure: You wouldn’t believe how much coffee The Penny Hoarder team goes through. This post contains affiliate links so we can keep the grinds stocked!

Susan Shain, senior writer for The Penny Hoarder, is always seeking adventure on a budget. Visit her blog at susanshain.com, or say hi on Twitter @susan_shain.

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The Downsides of Winning Big: 21 Lottery Winners Who Lost Everything

When I was a repo man, one of my more unusual assignments was repossessing a Cadillac from a recent $1 million lottery winner.

While investigating to determine where the vehicle was hidden, I learned that when the annual lottery checks arrived she quickly spent them partying, leaving her without enough to make her car payments. One night, I drove her car away while she slept.

It’s tough to say how often lottery wins have happier endings. Given the many national lotteries around the world and the 44 state lotteries in the U.S., there have probably been thousands of $1 million-plus winners, and some of them must responsibly manage their winnings.

But sadly, some lottery winners lose it all very quickly. It’s too easy to find one tragic real-life case after another. Here are 21 of the worst.

And what if you win big in the lottery someday? What mistakes should you avoid? The lessons are pretty clear, and they’re right there in the stories if you pay attention.

1. A Typical Story?

Lisa Arcand won $1 million in the Massachusetts lottery in 2004. She bought a house and went on vacations like many winners.

Of course, a million dollars isn’t much after taxes, so she also opened a restaurant to make some additional income. Sadly, within a few years she ran out of money and closed the failing restaurant. In 2007, she said of her lottery experience, “Actually, it’s been very depressing.”

2. From Millionaire to Factory Worker

Michael Carroll was a garbage man in England when, at age 19, he won £9.7 million (about $14.4 million at the time) in the lottery in 2002. A mansion, drugs and gold jewelry ate up the money quickly.

By 2012, Carroll was broke and living off unemployment checks. Now he works on an assembly line in a cookie factory, making £204 (about $300) per week.

3. Party Down… and Down, and Down

Gerald Muswagon, of Winnipeg, Manitoba, won $10 million in 1998. He bought cars for friends and family, and made his new house into a “party pad.”

Eventually, he’d spent all his money and he took a minimum-wage job to support his six children and his girlfriend. In 2005, just seven years after his big win, he took his own life.

4. Generous to a Fault

Janite Lee won $18 million in 1993.

Although her gambling habit reportedly cost her more than $300,000 per year, she may have spent more on charitable and political donations. Her generosity included $1 million for Washington University to build a new library. In 2001, she filed for bankruptcy.

5. Millionaire or Murderer?

Willie Hurt won $3.1 million in the Michigan lottery in 1989.

The money didn’t last long. Within two years Hurt wrecked his marriage, lost custody of his kids and was charged with attempted murder. He spent his winnings on his divorce and drugs, according to his attorney.

6. Big Winner Goes Deep in Debt

Suzanne Mullins won $4.2 million in 1993 in the Virginia lottery. She split the prize with her husband and was supposed to receive 20 annual after-tax payments of $47,778.

But when money got tight, she borrowed from a company that lends cash to lottery winners. In 2000, the lottery rules changed, allowing Mullins to collect the rest of her money all at once. She apparently spent the money rather than pay back what she owed to the lottery lender, and in 2004 a court ruled she still owed the company $154,147.

7. $31 Million Gone in Two Years

Billie Bob Harrell Jr. won $31 million in the Lotto Texas game in 1997, and he no longer had to stock shelves at Home Depot.

He bought a ranch and a few homes, gave money to his church and made loans to friends. Everyone wanted a piece of his money, and soon his marriage was in trouble as he lent and spent all of his winnings. In 1999, less than two years after his big win, Harrell took his own life.

8. Big Spending

Sharon Tirabassi, of Hamilton, Ontario, won $10.5 million in 2004. She treated friends to vacations in Cancun, Las Vegas, California, Florida and the Caribbean.

She got married and bought a house for $515,000 — and got a $360,000 mortgage loan rather than paying all cash. She bought numerous cars, including one that cost more than $200,000, and gave millions of dollars to family and friends.

By 2007, half of her money was gone. By 2008, with her husband in jail for a DUI, Tiribassi lost their home. Now, to pay the rent and support her kids, she takes the bus to her part-time job.

9. Living for the Moment

Lou Eisenberg won $5 million in 1981, which at the time was the largest lottery win ever. After taxes, he received payments of $120,000 annually for 20 years.

He bought a condo in Florida, took trips to Europe and Hawaii, and gambled. He also gave cash to whoever he figured needed it. Of his spending, he says, “I lived for the day.”

Shortly after cashing his last check in 2001, Eisenberg was broke. Now 81 years old, he lives in a mobile home on social security and pension income that amounts to about $1,000 a month.

10. Elderly Lottery Winner Looking for a Job

Vivian Nicholson, of Castleford, England, won £152,300 in 1961, the equivalent of about £3 million today ($4.5 million). She famously vowed to “spend, spend, spend!” She bought expensive designer dresses, vacations, and a new car every six months.

By the 1970s, Nicholson was broke. In 1998, she received money from “Spend, Spend, Spend,” a musical about her life, and spent it all quickly.

By 2007, at age 71, she was living on a pension of £87 weekly ($131), and was looking for a job. After sending out 25 resumes, she still hadn’t found one.

11. Karmic Lottery Loss

Denise Rossi won $1.3 million in the California Lottery in 1996. But instead of telling her husband of 25 years — who thought they were happily married — she asked for a divorce, and said she wanted it done quickly.

Soon after the divorce, Rossi’s ex-husband discovered her deception. In 1999, a judge determined that she had broken asset disclosure laws, and he awarded her husband every penny of her winnings.

12. “Nightmares”

William “Bud” Post won $16.2 million in 1993, and five years later said, “Everybody dreams of winning money, but nobody realizes the nightmares that come out of the woodwork, or the problems.”

Post’s brother tried to hire someone to kill him and his wife. A landlady forced him to give her a third of his winnings. He was convicted of assault for firing a shotgun at a bill collector, and for passing bad checks. He declared bankruptcy.

When Post died in 2006, he left behind little or nothing for his seventh wife and the nine children he had with his sixth wife.

13. Killed for His Money?

Urooj Khan won $1 million in the Illinois lottery in 2012, and opted for the lump-sum payout of $424,500 instead of annual payments. He planned to use the money to expand his dry-cleaning business.

Sadly, Khan died less than a month after winning, the day after his check was mailed. While his death was ruled natural at first, a test later revealed that he had been poisoned with cyanide. The police have not named a suspect, and a subsequent autopsy revealed nothing more.

14. Another Lottery Winner Poisoned

Ibi Roncailoli won a $5 million Lotto prize in 1991, in Ontario, Canada. Soon afterward, she gave $2 million of her winnings to a child she had secretly had with man who was not her husband.

When her husband, gynecologist Joseph Roncailoli, discovered the truth, he poisoned his wife. He went to jail for manslaughter, but not before reportedly asking Ibi’s family for help in paying for her funeral.

15. Two Lottery Wins, Very Little Money

Evelyn Adams won the New Jersey lottery twice, in 2005 and 2006, collecting $5.4 million in total. Spending sprees, bad investments, gifts to family and a gambling habit all helped her get rid of the money quickly.

16. Defrauded by a Friend

Marva Wilson won $2 million in the Missouri lottery in 2012. Freya Pearson, whom Marva considered a friend, tricked her into giving Pearson unrestricted access to her bank account.

Pearson used the money to travel, gamble and buy cars and an apartment, spending more than $640,000 of Wilson’s winnings. Just two years after cashing in her winning ticket, Wilson was broke.

17. Tax Fraud and Other Problems

Alex Toth won $13 million in the Florida lottery in 1990. He lived well for a few years, then went broke, split up with his wife, got in trouble for filing false tax returns and spent some time in a mental institution. He avoided going to trial for the tax fraud charges by dying, penniless, at age 60 in 2008.

18. Yet Another Lottery Divorce

Lara and Robert Griffith won £1.8 million ($2.7 million) in the Lotto in 2005. They bought a home for £670,000 ($1 million), along with a Lexus 4×4 and a Porsche convertible. Robert paid for his band to have a record made, and Lara splurged on designer handbags. They set up a beauty salon business.

Then, six years later, Roger disappeared with the Porsche and Lara discovered suspicious emails on his computer. He denied having an affair, but the marriage ended, the money was gone and now Lara is an employee at the salon they used to own.

19. Too Young to Win?

Callie Rogers is perhaps the youngest big lottery winner. At age 16, she won £1.9million ($2.9 million) in 2003. Her winnings went toward cosmetic surgery, drugs and partying. She says she attempted suicide three times.

Now married and a mother of three, she has only £2,000 ($3,000) left in the bank, but says she is finally happy. She says of the experience, “I was too young to win the lottery — I don’t think 16-year-olds should be eligible.”

20. A $27 Million Spending Spree

David Lee Edwards split a $280 million Powerball jackpot with three others, a win that came while he was unemployed and living in his parents’ basement. After taxes, he received a lump sum of $27 million.

He bought a $600,000 house, a $1 million fleet of cars, a $78,000 watch, a $1.9 million jet, 200 swords and other medieval weapons, and a $4.5 million fiber-optics installation company. He also married a woman 19 years younger than he was.

Within a year, he had spent $12 million. The house was soon lost to foreclosure, his wife was arrested for stabbing a boyfriend, and David died at age 58 in 2013.

21. A Millionaire Wins the Lottery

Jack Whittaker was already a millionaire when, on Christmas of 2002, he won $314.9 million, the biggest single-person lottery win in history. He opted for a lump-sum payment, which after taxes, left him with $93 million.

His contracting business, which employed over 100 people, provided a great living, but his humble lifestyle meant few people knew how much he made. The lottery winnings were apparently a different kind of income.

Whittaker spent money at strip clubs and casinos. He gave millions to charities. His habit of leaving cash in his car resulted in thefts of $545,000 one time and $100,000 another, and his house was robbed. He showered gifts and cash on his beloved 16-year-old granddaughter, who spent much of the money on drugs. A year later, she was found, apparently murdered.

Whittaker rarely speaks to the press now, and some reports say he is broke. When asked if life was easier before his big win, he said, “Yeah, it was a lot easier then.”

Your Turn: What would you do if you won a big lottery prize? Do you think you would be better off than these winners after ten or fifteen years?

Steve Gillman is the author of, “101 Weird Ways to Make Money” and creator of EveryWayToMakeMoney.com. Of the more than 100 ways he has personally made money, writing is his favorite (so far).

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You Didn’t Win the Jackpot, But Your Losing Lottery Ticket Might Still Be Worth Thousands

If you’re like me, you ignore the lottery most of the time. The chances of winning are way too slim, and I’d rather spend my $1 elsewhere.

However, I admit that — every so often — I get caught up in the hype and flirt with temptation.

And when I do, I don’t worry about playing lucky numbers because I go straight for the scratch-off tickets. I like knowing instantly whether giving up my $1 was a good idea or not.

But recently, my cousin was bragging about the free blender and other things she had won by entering non-winning scratch-off tickets online.

That got my attention, so I did some investigating and discovered second chance lotteries.

What are Second Chance Lotteries?

As the name suggests, they’re a second chance to win cash and prizes. Second chance drawings are available in 43 of the 44 states that hold lotteries.

Rules vary by state, but the general concept is this: If you buy lottery tickets — drawing-style or scratch-offs — for certain games, your non-winning tickets can win you prizes in random drawings.

Tickets are only eligible during certain dates and some drawings occur more frequently than others.

Cash rewards range from $500 to over $1 million. And prizes vary from NFL tickets to brand-new cars!

A Kansas woman won $25,000 in Home Depot gift cards, a Georgia man won a Kia sedan and a California woman won $500,000 — all within two weeks.

Some state lotteries provide additional ways to win.

For example, Tennessee’s lottery allows players to enter any non-winning, drawing-style ticket — including the Powerball — online to gain points.

Then, players can use those points to purchase items like watches and espresso machines.

Ohio has a similar system called MyLotto Rewards.

Why States Offer Another Chance to Win

Different lottery tickets have different top prizes for each game.

However, once the last top prize for the ticket has been claimed, a lottery ticket can no longer be sold.

With second chance drawings, states choose to set aside one of these top prizes for one final drawing after the lottery game closes.

This allows them to sell tickets for a longer period of time, bringing in more revenue to help fund games’ prize structures.

Also, winners have to pay taxes on each claimed prize, bringing states even more money.

How to Get Started With Second Chance Lotteries

First, visit your state’s lottery website to find out if it participates in second chance drawings — and what the rules are.

What you’ll want to know:

• Which games are eligible

• How often drawings occur

• Entry deadlines

Of course, you’ll also need to know how to play.

Not all states have an online entry system. Wisconsin’s Super Second Chance drawing actually requires players to mail in their tickets. That’s too big a hassle for me, but maybe not for you.

If you can, also look at the odds.

Colorado’s second chance lottery provides an online list of prizes still available. It also shows the odds of winning those prizes, based on how many entries have been received.

Knowing the odds can help you better determine which games are worth your dime — and your time.

For online systems, joining is free and only takes a few minutes. To create an account, just enter your first and last name, date of birth, an email address and an account password.

Then, follow the ticket entry instructions. Be sure to use the correct information for your account — you don’t want another Jane Smith falsely claiming your earnings!

What to Do When You Win

One of the downsides to winning the lottery — even a second chance lottery — is you may not be able to do so anonymously.

Each individual state decides whether to make lottery winners’ names public. Unfortunately, only five states grant winners anonymity, The Washington Post reports. And sometimes, that fame and fortune has its downsides.

Instead, protect yourself, and join the list of past lottery winners who’ve invested their money wisely for a shot at a happy ending.

Sign your winning ticket before you go to cash it in. Some experts even suggest you consult with a tax professional right after you discover you’ve won, especially if it’s a large sum. They can help you protect your assets and decide whether to take a lump-sum payout or receive payments over time.

Finally, enjoy it. How often do you win the lottery and what’s the likelihood it’ll happen again?

Remember: Any loss could be your gain.

Your Turn: Have you ever played a second chance lottery? If so, did you win anything?

April Bailey is a freelance journalist, writer and rookie filmmaker based in Atlanta. She is a Nashville native who prides herself on being frugal.

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