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السبت، 1 يونيو 2019

Inspiration from Yuval Noah Harari, Notability, Heraclitus, Rhiannon Giddens, and More

Once a month (or so), I share a dozen things that have inspired me to greater personal, professional, and financial success in my life. I hope they bring similar success to your life.

1. Yuval Noah Harari on putting off your “real” interests

“How many young college graduates have taken demanding jobs in high-powered firms, vowing that they will work hard to earn money that will enable them to retire and pursue their real interests when they are thirty five? But by the time they reach that age, they have large mortgages, children to school, houses in the suburbs that necessitate at least two cars per family, and a sense that life is not worth living without really good wine and expensive holidays abroad. What are they supposed to do, go back to digging up roots? No, they double their efforts and keep slaving away.” – Yuval Noah Harari

This single paragraph, from Harari’s book Sapiens, sums up so much of the challenge of modern life. The best of our intentions are shaved away, bit by bit, day after day, year after year, by the relentless grind of modern life. Our jobs are mentally exhausting, leaving us with little mental energy to enjoy what we have. We’re constantly being distracted and tempted by things around us, most of which are fleeting. Our sense of what life ought to be like and our desire to be liked and accepted leads many of us to follow what others are doing and the path of others before us in getting a house somewhere, getting a car, getting a mortgage, and so on and so forth without really considering whether that’s what we really desire or whether it’s in line with what we want from our lives.

We’re wired to do this. All of this takes advantage of the natural instincts we all have, passed down to us from our ancestors on the savannah.

The challenge of modern personal finance, of modern life, is to figure out how to overcome all of that. If we’re predisposition to follow this kind of path even though it makes us unhappy and unprepared for the later stages of our life, how can we overcome that predisposition to find a better path for us in this modern world? That’s the real question, and there are no easy answers to it.

2. Elizabeth Dunn on how helping others makes us happier — but it matters how we do it

From the description:

Research shows that helping others makes us happier. But in her groundbreaking work on generosity and joy, social psychologist Elizabeth Dunn found that there’s a catch: it matters how we help. Learn how we can make a greater impact — and boost our own happiness along the way — if we make one key shift in how we help others. “Let’s stop thinking about giving as just this moral obligation and start thinking of it as a source of pleasure,” Dunn says.

If we spend $15 on a movie ticket and spend two hours watching the latest Hollywood blockbuster, many will feel as though it’s a worthwhile use of money – after all, you got some entertainment out of it, and that feels good.

On the other hand, many people simply won’t give $15 to a good cause. They feel like they get nothing out of it or that the recipient is somehow undeserving of that $15.

Why do we see the negatives in giving $15 to someone in need but see the positives in giving $15 to a movie theater? Why do we value the good feelings that a Hollywood movie might give us but undervalue the good feelings we might get from helping someone out that really needs it?

It’s an interesting question to think about and it starts to dig into how we’re really wired.

3. The Dalai Lama on taking and using the best of what you learn

“Don’t try to use what you learn from Buddhism to be a better Buddhist; use it to be a better whatever-you-already-are.” – The Dalai Lama

Over the last several months, I’ve read a number of books on secular Buddhism, as I’m very interested in what it can teach me about being more in tune with my inner voice and also helping me to quell desire for things I don’t really need. I wrote about some of what I’ve learned in this article, if you’re interested.

In that journey, the above quote has given me a lot of value. For me, this isn’t so much a quest to change religions but a quest to understand myself better using insights I’ve never really had access to before. I’m not particularly interested in becoming a Buddhist, but I am interested in what Buddhism can provide that will help me become a better version of who I am, and I think there’s a lot of value there.

Too often, we want to draw strict lines between things, building up walls and rules that tell us that we must think A, B, and C, and that we must not think X, Y, and Z. There were perhaps times in the past where such walls and rules were useful, but a healthy thinking person should be able to look past such walls and rules, pulling together what works for them to build their best life.

4. Notability

As I wrote about last week when describing my journaling practices and how they help my finances, I was on the fence about moving to journaling with a digital tablet and stylus. After writing that article, I gave it some thought and realized that, over the long term, it would be much more cost efficient for me if I were able to move to an all-digital system for journaling. No more cost for pens or paper, just an irregular replacement of my tablet and stylus, and I already have an iPad with an Apple Pencil that I use for some types of note-taking and brainstorming.

So, I decided to engage in a thirty day challenge next month to do all of my journal writing on my tablet, and as a “warm up,” I wanted to spend some time figuring out what apps and tools to use to make it go as smoothly as possible.

Pretty quickly, I figured out that Notability on an iPad with an Apple Pencil is a pretty good solution for this. I already used Notability for other note-taking purposes, but after spending a lot of time with it in the last week or so, I’m pretty well convinced this will work splendidly for me going forward. The fact that I can date entries and keep individual ones for as long as I want while trashing ones I don’t want to keep is wonderful, as is the ability to easily search my own handwritten material.

I’m pretty happy with Notability as my journal going forward for at least a while. I’m going to stick with it through a thirty day challenge regardless, but it really seems to work almost perfectly for what I want.

5. Heraclitus on drawing on your own past

“No man ever steps in the same river twice, for it is not the same river, and he is not the same man.” – Heraclitus of Ephesus

I don’t actually find much value in looking back at my past beyond the past few months. I enjoy having nice memories of relatives that have passed and some of the best moments of my childhood and young adult life, but beyond that, dwelling on the past does me almost no good at all.

The reason is that I recognize that I can’t undo the past, and even if similar opportunities come my way in the future, I won’t be the same person in the same situation any more. You can’t undo the past. All you can do is take care of the present in the best way you can and prepare yourself for the future.

When I do fall into the trap of looking back, the deeper I look at myself, the less I recognize. I am not the same person who made those choices. Ideally, I’ve grown and become a better person in some ways, and time naturally changes all of us by adding experiences to our life and age to our body.

I look back at the recent past and do some after action reviews, and I like some of the best memories of my life, but I prefer to keep my eyes forward rather than backward. What can I do to make the rest of my life great? What can I do to make my children’s lives great? What can I do to be a positive force in the community? Those are the questions that really matter.

6. Rhiannon Giddens – I’m On My Way

Rhiannon Giddens is one of my favorite musical artists actively performing today. Her music is stunningly beautiful, soul wrenching, and socially conscious all at once. Her solo performances and some of her older stuff with the Carolina Chocolate Drops and her side project Our Native Daughters has made me yearn to pick up a banjo and flail badly with it.

Her latest album, There Is No Other, came out last month and, I’ll be honest, it didn’t really click with me at first. The one song that did was “I’m On My Way,” which felt like it would have fit perfectly on her last album, and it was that song that nudged me into giving the full new album a few listens, and now I thoroughly enjoy it as well.

Give her music a listen with an open mind and an open heart and I suspect her voice and her banjo will blow you away.

7. John Wooden on the value of argument

“Whatever you do in life, surround yourself with smart people who’ll argue with you.” – John Wooden

To be clear, this quote isn’t talking about arguing in the negative or antagonistic sense. Rather, Wooden is talking about having people in your life that will question your ideas and assumptions and push back on your thoughts in a way that’s intended to make you both better.

These kinds of relationships are surprisingly rare. It requires a level of trust between the people involved so that they all understand that everyone else inherently has value and that pushback is not intended to be negative or to cut someone down. It’s done out of respect and out of a desire to make everyone involved better.

I’m not always the biggest fan of sports, but I find that really good coaches often develop this kind of relationship with their players. It’s one of the good things about sports, in my opinion. I also find that this is one of the best parts of mentor relationships.

If you’re really lucky, you find friendships like this, and those are truly invaluable relationships that you never want to wither.

8. Terence McKenna on your plans

“If you don’t have a plan, you will become part of somebody else’s plan.” – Terence Mckenna

Whenever I hear this quote, I think of the workplace.

Some people go to work just to clock in, do what they’re told, earn a paycheck, and go home. They’re collecting a paycheck in exchange for some work. They’re just part of someone else’s plan.

Others look at work as a tool to move to where they want to be in life. They’re constantly evaluating their job in terms of the value it gives them, not just in terms of pay, but in terms of career improvement, personal improvement, relationships, and so forth. The job is a part of their plan for their career and their life.

Are you a part of someone else’s plan? Or are the parts of your life a part of your plan?

9. The Brothers Green provide advice on home cooking

This is actually a three part video series from one of my hands-down favorite Youtube channels, The Brothers Green Eats. I was originally just going to link to the third part, but the whole series is so good that I want to just share the whole thing.

Here’s the first part, “The Home Cooking Survival Guide For Your Busy Work Week“:

… and the second part, “How to Create the Perfect Meals to Bring to Work“:

… and the third part, “The #1 Skill to Master as a Home Cook“:

(That “number one skill” is improvisation – the ability to make meals out of whatever you have on hand.)

What I love about this series is that it really addresses in a visual way the challenges of meal preparation at home on a day-in-day-out basis when you have a busy family. It’s hard, and I know – Sarah and I both work full time and have three kids that frequently have weeknight activities, and Sarah and I are both involved in various things as well. Preparing and cooking meals and cleaning up afterwards can be hard.

While the ideas they offer here are pretty much in line with what Sarah and I already do – plan meals in advance, make a grocery list, get the ingredients on that list, do some of the meal prep during the weekend, improvise a little later in the week, and so on – these videos explain the ideas so well in a nice visual form that I had to share it.

Plus, The Brothers Green Eats is one of my absolute favorite Youtube channels, so I am glad to be able to share some of their work that’s really widely applicable. They’ve entertained me for a long time and they’ve often convinced me to make unusual things in my own kitchen.

10. Yongey Mingyur Rinpoche on choosing your discomfort

“Ultimately, happiness comes down to choosing between the discomfort of becoming aware of your mental afflictions and the discomfort of being ruled by them.” – Yongey Mingyur Rinpoche

Every single one of us has mental quirks. Every single one of us has things that make us happy and make us unhappy. The question is, are we each aware of those thing? Are we really aware of the sources of what makes us happy and unhappy? Furthermore, are we able to understand how malleable those things are?

If you’re willing to accept being ruled by your emotional whims, you don’t have to worry about any of this. You can just be led along by the ups and downs of your emotions and react to everything in the moment.

On the other hand, you can peer deep into what drives you. It’s sometimes unsettling and confusing, but the deeper you look and the more you understand, the more you realize how much power you have to control the waves of your internal life.

Both paths have penalties and benefits. I find the latter to be much more worthwhile – although it’s really difficult at first, it ends up bringing greatness.

11. Kimberly Noble on how income affects childhood development

From the description:

Neuroscientist and pediatrician Kimberly Noble is leading the Baby’s First Years study: the first-ever randomized study of how family income changes children’s cognitive, emotional and brain development. She and a team of economists and policy experts are working together to find out: Can we help kids in poverty simply by giving families more money? “The brain is not destiny,” Noble says. “And if a child’s brain can be changed, then anything is possible.”

I grew up fairly poor, with my family having less money than almost everyone else I know today. We lived in a small home in the country and there were times when things were really lean. I know I missed out on a bunch of opportunities because my family couldn’t afford certain things: musical instruments, school trips, and so on.

Naturally, having the resources for those things would have had some real impact on my childhood. I don’t know what it would have changed, but I know that the changes would have been positive ones.

Money, on the surface, seems like the reason for that, but it’s worth noting that it’s just as important that I had parents that genuinely cared for me and would have used such money to give me educational opportunities.

I would be in favor of a system that rewarded parents with a tax credit for exceptional spending on educational opportunities for their children. Things like buying them a musical instrument, paying for lessons, and so on. That way, involved parents can catch a break on some of those extra expenses that really matter but can be hard to justify. Remember, that money would cycle straight back into the economy.

12. Emily Maroutian on being stuck

“You’re not stuck. You’re just committed to certain patterns of behavior because they helped you in the past. Now those behaviors have become more harmful than helpful. The reason why you can’t move forward is because you keep applying an old formula to a new level in your life. Change the formula to get a different result.” – Emily Maroutian

If you want new results, try new approaches. If you want the same results, keep doing the same thing.

If you want to get ahead financially, you have to change something about your finances. You need to spend drastically less or earn drastically more or, ideally, both. There’s no magic way to keep spending like you are and not have an increase in income and somehow start having splendid financial results.

If you want to lose weight, you have to improve your net balance of calories for the day. The most effective way to do that, by far, is to eat less, but exercise is definitely helpful, too.

If you want something different, you have to start doing things differently.

The post Inspiration from Yuval Noah Harari, Notability, Heraclitus, Rhiannon Giddens, and More appeared first on The Simple Dollar.



Source The Simple Dollar http://bit.ly/2EJvCF9

Be Prepared: 5 Strategies for Building a Budget-Friendly Emergency Kit

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We’ve officially entered hurricane season, meaning it’s time to evaluate — or create — your emergency kit.

Are you ready for the worst if faced with a hurricane or if another disaster strikes? Preparing doesn’t have to be expensive. These five tips will help you get ready without spending a lot.

How to Build Your Emergency Kit for Less

Sure, you could plunk down more than $200 or so on a one-size-fits-all emergency kit filled with stuff you probably won’t need.

Or, try the budget-friendly option: Build your own customized, cost-effective kit. Here’s how.

1. Decide What You Need

First of all, know what you need.

The Red Cross suggests keeping bare essentials like water, non-perishable food, clothes and medicine on hand..

You definitely need a stash of those. But what other goods make sense for where you live?

In my part of Florida, I can’t think of a disaster scenario that would necessitate the hand chain saw or rope in the $200 kit I mentioned, but maybe I’d feel differently if I had to deal with tornadoes or earthquakes, or if I lived in a wooded area.

Figure out what your kit needs and prioritize those items. And don’t get carried away — you probably just need to be able to feed yourself for a week or so, not build a shelter on a desert island.

2. Prep for Free

Some of your preparation won’t cost you a dime. It’s all about gathering stuff you already have, like important documents, cell phone chargers, maps and spare emergency cash.

Instead of buying it by the flat, consider bottling your own water. Use bleach-purified, leftover two-liter bottles and treated municipal water. Just don’t use milk or juice cartons, which can harbor bacteria. Date your bottles and replace them every six months, and you’re good to go.

If you’ll need water for hygienic purposes, clean your bathtub, then fill it with cold water. It won’t be potable, but you can use it to flush toilets and keep yourself clean.

Don’t forget your protein! Beef jerky is a great survival snack — but it isn’t cheap. You could dehydrate your own and save money and sodium content. Plus, you get to make your beef jerky the way you like. Check yard sales or Craigslist to find a dehydrator on the cheap.

Whenever you’re doing your own food prep, make sure you’re meticulous. Items undergoing long-term storage can get contaminated if they’re not perfectly sanitized and sealed — and you don’t want to discover your food stash is useless when an emergency arises.

3. DIY to Save

In my area, hurricane shutters are important, but expensive.

The good news is you can make your own out of plywood or polycarbonate from Home Depot — just make sure to factor in the cost of waste when you’re doing your comparison. You may not be able to find much use for raw material scraps once you cut out shutters.

4. Collect Cost-Effective Items

When you have to buy items, use coupons and your penny-hoarding knowledge to your advantage: Shop on the right day, use cash-back sites to earn rebates and use hacks to get the best deals at stores like CVS and Walmart.

When you pick up batteries, hydrogen peroxide, bleach and bandages, make sure to buy generic — they’ll work just as well as the brand-name stuff. Check out the dollar store for these items, and while you’re there, pick up some emergency entertainment: crayons and coloring books for the kids and a pack of cards for adults.

You probably already know how much you can save by buying in bulk. Emergency rations of paper towels, toilet paper, canned goods, batteries and bottled water are a perfect opportunity to take advantage of those savings.

Finally, consider battery-free emergency additions, like wind-up flashlights and weather radios. If you’re going to be without electricity, you’ll definitely want a handheld cell phone charger, which you can keep charged and prepared beforehand.

5. Plan Ahead

One of the best ways to save money on disaster preparedness is to play the long game: Look for sales in your day-to-day life and stock up, way before your storm season approaches. Cans of tuna on BOGO? Put your “get-ones” into your stash.

The more you can avoid a last-minute disaster-prep rush, the better: Vendors do price gouge. Here in Florida, the price of canned goods and gallons of water goes up in June and falls steeply in December, after hurricane season ends.

In case you do need a last-minute item, include disaster prep in your savings budget. Set aside $20 a month or so, and consider it part of your emergency fund — because that’s exactly what it is.

Stay safe, Penny Hoarders — and don’t forget your can opener!

Jamie Cattanach is a freelance writer whose work has been featured at Ms. Magazine, BUST, Roads & Kingdoms, The Write Life, Nashville Review, Word Riot and elsewhere.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.



source The Penny Hoarder http://bit.ly/2HQndC6

الجمعة، 31 مايو 2019

Amid rising tariffs, Dollar Tree starts selling items for more than $1

Dollar Tree is revising its playbook.The retailer known for selling everything for just $1 is now offering merchandise for than a buck at about 100 of its stores, according to Business Insider.The new Dollar Tree Plus! model is being rolled out at the [...]

Source Business - poconorecord.com http://bit.ly/2JQiSky

5 Ways to Save Money This Summer and Still Have Fun

Retiring, Sooner or Later

Marie wrote in with a really nice mailbag question:

Do you think it’s better to retire a few years early and have to live with a tight budget or keep working for a few more years which will probably be your healthiest years so you can have more money when you retire? I’m 57 and can retire now but things would be lean for me. If I work until 60 things will be much better as I will have a lot more in retirement savings and less time to wait until Social Security kicks in.

There are a ton of ways to look at this question. I’ll just walk through how I would look at it.

The big question I’d have in Marie’s shoes would be what does my downside plan look like? In other words, what exactly will I do if I get into retirement and realize that I need more income?

If I needed to, could I can easily return to the workforce, get a job of some kind that earns enough to really make a difference for my life, and start earning enough money so that I can at least reduce how much I’m drawing down my retirement?

For some, that might mean that they ned to easily return to their previous career path in some way or be able to utilize some skills they have in order to earn a relatively nice wage. For many others, that means that their health is sufficient to be able to do an entry level service job like working as a cashier at Target. It really depends on your situation.

For me, I’m not really sure what a return to the workplace would look like. When I “retire” from The Simple Dollar, I won’t give up writing, but it will change form and take up somewhat less of my time. I plan to write science fiction and/or fantasy. Ideally, I will earn some degree of income from that, even if it’s just a trickle of ebook sales. If I had to move to something that brought in more direct income, it would likely be some entry level position just to bring in cash in exchange for my hours.

Once you know what that downside plan is, how miserable would that downside plan make you? Would it be something that would completely demoralize you? Or would it be just another curve in life’s long road?

This depends a lot on the person and on their downside plan. Some people will be fine with whatever may come. Others would be devastated by any return to the workforce. Still others would find some types of work quite acceptable, while other forms might make them unhappy.

As for me, I’d probably not relish having to work at a service job in my fifties and sixties, but there are far worse outcomes in life. I could do it if I needed to and it wouldn’t be a devastating outcome. I know that, given what I have now, it would not be a permanent thing and would likely just happen as a bridge to Social Security.

Once you have those questions answered, it’s time to look at the numbers regarding retirement.

If you retire with just enough to live off of if you take a 3.5% or 4% annual withdrawal from your retirement savings, then there’s a decent chance that any significant life bump will send you right back to the workplace.

That’s fine if you don’t find your downside plan to be dreadful. After all, for most people in this situation, the downside plan is likely just a relatively temporary thing. Retiring early probably makes sense for you.

On the other hand, that’s a terrible outcome if you really dread having to return to work again after choosing to retire. If the idea of your downside plan fills you with horror, then you should probably make a choice to avoid it. Retiring later probably makes sense in this case.

There’s also the issue of contentment with your current life. If you’re happy with your life as it is now, with a career and a current position you enjoy, why not stick with it? Is there anything pressing that you want to do in retirement that you couldn’t delay for a few years if you’re pretty happy right now? If that’s the case, retiring later makes a lot of sense.

On the other hand, perhaps you loathe your current career or job or simply have big dreams regarding things you want to do in retirement (things you can afford, that is). In that case, retiring sooner is probably the better path.

Given these factors, I would probably make my decision using my feelings about my downside plan as my primary deciding factor, and my second factor would be my happiness with my current life. The interesting thing is that your feelings about your current career likely provide some shading as to your downside plan. If you dread your current career intensely, then your downside plan probably doesn’t seem too bad in comparison, and that nudges you toward retiring now rather than later. Of course, the reverse is true: if you’re pretty happy with where you are, your downside plan might seem quite bad by comparison, and that would nudge you toward sticking with work.

As for me, I’ll probably retire as soon as it makes financial sense for Sarah and myself. Some of my plans in retirement do involve bringing in a little additional income and my own downside plan doesn’t fill me with dread – if things go that way, it’s okay.

So, if this question is on your mind, here’s your step by step game plan.

First, sit down and really think about what your downside plan is if you retire and things don’t work out financially. What kind of work would you end up doing in that situation? Could you fill in using your current training, like a teacher or a pastor might be able to? Could you actually still find full-time work in your field after a few years of retirement? Or would it be a return to entry level work? Honest evaluation of your career and your skills is absolutely vital here.

Once you’ve figured out what the downside looks like, honestly assess how you feel about it, particularly in comparison to your current career situation. Does the downside plan seem a lot worse than your current job? Or does it seem like another turn in the road? It might even seem like an improvement over your current situation (which begs the question of why you’re not making the shift right now).

If the downside plan seems awful and far worse than your current job, then it’s probably a good choice to delay retirement and give yourself some padding so that there’s much less likelihood of having to execute that downside plan. Aim for 120% or 150% of your target.

If the downside plan seems palatable and you are ready to get out of your current job, then take that leap if you have enough money saved up to live on. The downside plan is significantly more likely to happen in this case, but if you’re equally happy or more happy with your downside plan than with your current career, it’s all good.

The challenge comes when you’re happy with your current job and your downside plan or you’re unhappy with both. In those cases, I would let the vision of the downside plan still guide you. I’d set it down side by side with your current situation, compare things like salaries and working conditions, and also consider the fact that you’re likely to be several years older when executing your downside plan. If you still can’t decide, I would stay put for now, because you are never, ever going to be harmed by having more in retirement savings.

Good luck!

The post Retiring, Sooner or Later appeared first on The Simple Dollar.



Source The Simple Dollar http://bit.ly/2HQNDDP

Dear Penny: When Does It Make Sense to Use a 401(k) to Pay Off Debt?

Dear K.,

It’s so tempting to take a bite from the 401(k) apple when you have debt. And your 401(k) funds probably look especially appealing since you’re at or approaching that magical age of 59 ½ when the IRS will let you tap into those funds without paying a 10% penalty.

I’d urge you not to spend your 401(k) to repay your debt, but the tax implications you mentioned aren’t my primary concern.

Your 401(k) is an asset that’s almost always protected from creditors with just a few exceptions, such as if you owe child support or back taxes. The same goes for IRAs and pensions.

That means if you can’t make your debt payments and your student loan servicer or credit card company gets a court judgment against you, they won’t be able to touch your $17,000 in retirement savings. Your retirement accounts are also typically protected if you file for bankruptcy.

That $17,000 could be a lifeline in a crisis — say, if you have a medical emergency or lose your job before you’re eligible for Social Security.

OK, now let’s talk taxes: Your 401(k) withdrawals are taxed as what the IRS calls “ordinary income.” In other words, it’s taxed like a paycheck. So how much would you pay in taxes if you added $17,000 to your paycheck for the year? Without getting into the weeds of how tax brackets work, let’s just say that as a single filer in 2019, you’d need taxable income between $84,201 and $160,725 before any of it would be taxed at the 24% rate you mention.

Specifics aside, let’s just assume that when you start working again, your income will be higher than it will be when you retire. By holding off on 401(k) withdrawals until you’re no longer earning a paycheck, you’ll probably pay less in taxes.

But you’re wise to be focused on getting rid of that $28,000 in debt, especially since your retirement years are approaching.

The good news is, you’re starting a new chapter. You’re about to start a new job, so you’re in a better position to knock out what you owe so that you can be debt-free when you retire — and afford your rent in the meantime.

You don’t say whether the income you’ll earn at your new job will be enough to cover your basic necessities and make your debt payments. If you have extra money left over after bills and minimum payments, start by putting whatever you can toward paying off your credit cards, which probably have higher interest rates than your student loans.

Regardless of how much your new job pays, consider pursuing opportunities to make money on the side so you can tackle your debt quickly and start padding your retirement savings. Even earning an extra $200 or $300 a month through pet-sitting, delivering groceries or driving for a ride-hailing service could help you pay down your debt significantly faster.

By resisting the temptation to take money out of your 401(k) now, you’ll sleep better knowing you have money saved that no creditor can touch.

Robin Hartill is a senior editor at The Penny Hoarder and the voice behind Dear Penny. Write Dear Penny and you might see your question answered in an upcoming column.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.



source The Penny Hoarder http://bit.ly/2JP7hSE

Selling up? Don’t let knotweed ruin your chances

Selling up? Don’t let knotweed ruin your chances

It’s all very well cleaning the windows and painting the walls, but if you have Japanese knotweed in your garden, you’ll find buyers could run a mile. Here’s how to beat this fast-growing weed

The presence of this invasive plant can threaten a property’s foundations, impact on its value – and in some cases make it almost impossible to sell.

It is not unusual for lenders to refuse to lend on a property if the weed has been found, while others will put strict conditions in place and force you to agree to a treatment plan and insurance.

Here we take a closer look at what the presence of Japanese knotweed means when you’re trying to sell up ­– and what you can do to improve the chances of your sale going through.

What is Japanese knotweed?

Japanese knotweed is a notorious non-native species that has been thriving in the UK since its introduction in the 1820s as an ornamental plant.

A fast-growing weed that chokes out other greenery, it has a root system considered to be strong enough to grow through asphalt, cracks in concrete, drains and cavity walls. If left to spread, it can potentially threaten the foundations of buildings.

Eradicating this troublesome weed is a far from simple task because cutting it down can simply cause it to grow back fast.

Issues if you are trying to sell

In the UK, Japanese knotweed is widely believed to pose a significant risk of damage to buildings that are within seven metres of the parts of the plant that are above ground.

Paula Higgins, chief executive of the HomeOwners Alliance, says: “Japanese knotweed is a huge headache for homeowners, and the impact it can have on your ability to sell can be much more serious than you might have thought.

"This invasive weed has a root system that can spread wide and, if it reaches a property, it can cause damage to the foundations.”

Lenders may refuse to lend

If your buyers carry out a survey that finds that the plant is less than seven metres from your home, their lenders may get jumpy.

Many lenders have policies that restrict their ability to lend against a property that has the weed growing in the garden. And those that are willing to lend will usually insist on seeing evidence that a full treatment plan from a knotweed contractor has been put in place, together with a 10-year insurance-backed guarantee against its return.

Lenders may stipulate that you use a contractor that is registered with an organisation such as the Property Care Association (PCA) or the Invasive Non-Native Specialists Association (INNSA).

Peter Mugleston, managing director of Onlinemortgageadvisor.co.uk, says: “Some lenders will refuse point blank to lend if a property has a knotweed issue.

"At the very least, most will want to know that treatment is being undertaken to control the knotweed before they’ll agree to lend.”

Take note, however, that while professional removal programmes may offer a solution, the treatment does not come cheap.

Findings from the Crop Protection Association (CPA) show the average cost for homeowners after knotweed appeared is £1,880, while one in 10 faced costs of more than £4,000.

'My management plan saved the sale process'

Liz Betteridge was able to successfully sell her home despite having Japanese knotweed in the garden after she put a management plan in place that kept both her buyers – and their lender – happy.

The 53-year-old had lived in her three-bedroom property in Torquay, South Devon, for around 17 years before putting her home on the market in 2016.

“Japanese knotweed had been present in the garden the whole time I lived there, and gardeners who had come to do work for me had warned me about it,” says Liz. “But I wasn’t too worried as there were only a few shoots on one site located further down the garden and the plant wasn’t affecting my home in any way.”

When Liz was preparing to sell her home, she started doing a lot of research into Japanese knotweed on the internet.

“I read all the horror stories, but I was determined not to get sucked into all the panic and hype,” she says. “I’d read about the importance of having a management plan in place to make a property sellable, and got in touch with the Japanese knotweed removal specialist Environet.”

Liz instructed the firm to treat the knotweed using herbicide. “The first application happened that summer, and a second application took place the following year,” she says. “A third ‘check’ visit was scheduled for the third year to make sure there had been no regrowth.”

The site visit and treatment cost Liz around £5,000 in total and included a guarantee.

“This was quite expensive, but I saw it as a ‘treatable nuisance’ and a cost that I just had to pay as part of my moving costs,” she says. “Things went well, and I was able to market my home and find a buyer.”

Liz asked her estate agent to be upfront to the buyers about the Japanese knotweed in her garden, as she didn’t want the issue rearing its head further down the sale process – possibly causing the buyers to pull out.

“But I also asked my estate agent to explain to the buyers that I was dealing with the problem,” she adds. “And, with a management plan in place, the buyers weren’t deterred – and neither was their lender – and the sale went through without a problem. It was a big relief.”

Cutting down this invasive weed can simply cause it to grow back fast

Risk that buyers will pull out

In some cases, buyers will pull out at the mere mention of Japanese knotweed, while others will withdraw their offer further down the line owing to difficulties in getting a mortgage. Not only this, but the weed's presence can knock tens of thousands of pounds off the value of a property.

Further findings from the CPA show that one in seven people with knotweed saw a property deal fall through as a result, while one in five saw the value of their house drop.

In the worst cases, Japanese knotweed can render a property almost unsaleable.

Is the problem overhyped?

While this may make for gloomy reading, a recent study from global infrastructure services firm Aecom and the University of Leeds raised doubts over just how damaging Japanese knotweed is – and suggested that it may pose no more of a threat to property than many other plants.

Dr Mark Fennell, principal ecologist at Aecom, says: “We found nothing to suggest that Japanese knotweed causes significant damage to buildings – even when it is growing in close proximity – and certainly no more damage than other species that are not subject to such strict lending policies.”

The research goes on to say that automatically refusing mortgages on properties where the plant is found is “out of proportion to the risk posed by this invasive species”.

According to the findings, knotweed only causes problems where a property already has existing structural faults. In response to this, lenders are being encouraged to reassess their stance on knotweed.

However, you shouldn’t expect lenders to change their approach to knotweed any time soon.

Jane Erskine, deputy property ombudsman at The Property Ombudsman, says: “Despite this new report suggesting knotweed is relatively harmless to properties, its presence has – and probably still will – affect residential property sales.”

"If you do find the weed, take action before marketing your property”

What action should you take?

If you do find the dreaded weed on your property, you need to take action to tackle the problem before marketing your property. Nic Seal, managing director of Japanese knotweed removal specialist Environet, says: “Sellers have a legal obligation to disclose if their property is – or even has been – affected by knotweed, as a direct question is now part of the TA6 property information form.

"Those who are dishonest are leaving themselves wide open to legal action from the purchaser once they come to realise that the property is blighted by the weed.”

Crucially, you should never try to remove knotweed yourself, as you may inadvertently cause it to spread. Instead, you should instruct a professional firm to treat the plant, remove it, and dispose of it safely.

You should check that your chosen firm offers an insurance-backed guarantee lasting for at least 10 years, which transfers with the ownership of the property.

Japanese knotweed removal specialists include Environet (https://environetuk.com) and The Knotweed Experts (theknotweedexperts.co.uk); the latter recently launched a 35-year guarantee, which ensures that homeowners are now covered for the entire length of their mortgage.

Treatment options for knotweed include 'excavation', which is an instant fix, removing the plant within a matter of days; this involves the whole area being dug out. The alternative is herbicide, which is cheaper, but can take up to three years to complete.

Provided there is a planned eradication programme in place, lenders should be happy to proceed – and nervous buyers should be reassured.

Mr Seal adds: “While the knotweed will still need to be declared, this will keep most buyers and lenders happy – and will give you the best chance of a smooth, successful sale.”

Cases at the Court of Appeal

In a recent landmark case, the Court of Appeal ruled in favour of two householders whose properties had suffered from Japanese knotweed encroaching on their gardens from neighbouring land that is owned by Network Rail.

This court ruling has stimulated discussion as to whether landowners can claim damages if the plant has spread to their property.

Paula Higgins, chief executive of HomeOwners Alliance, says: “In future, homeowners may be able to sue their neighbours to cover the costs of removal and loss of value.”

ESTHER SHAW is a freelance journalist who writes about money and property for The Guardian, Observer and the Sunday Sun

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Be wary of ticking any boxes!

Be wary of ticking any boxes!

Buying online often requires vigilance to ensure you don’t buy extra things you don’t need.

Reader MB of London got in touch about his experience when he used international company Vistaprint to order some posters online to be printed.

He takes up the story: “All seemed well. But I was struck by an odd email I received from Vistaprint, which said ‘We’re sorry you’re leaving us’.”

MB was confused because in fact he had last used the company some 18 months previously to buy some T-shirts. So what was going on?

After some investigation and checking his bank statements, he noticed a regular £11 payment to the firm.

“It turned out that in my previous order I appeared to have been defaulted into some sort of website consultancy club,” he told me. “I don’t need and wouldn’t want such services as I have a website already.”

He worked out that he had been charged £164 for the service that he did not use.

MB contacted the company to complain and it instantly refunded his cash.

Its quick response made him wonder whether it had happened before. He asked: “Could you please look into this for me and my fellow consumers?”

I was glad to and I put MB’s story to Vistaprint. Its response was interesting.

“Read carefully boxes you’re asked to tick”

The company said that MB had selected its website builder “in a cross-sell placement” when he bought his T-shirts.

In other words, there had presumably been a box, which MB is likely to have ticked.

It can be easy to tick boxes or not untick boxes and end up signing up for things you don’t want.

Vistaprint denies that’s the case in this instance.

It said: “Customers are not defaulted into purchasing a website builder and need to expressly select to have it added to their basket.”

So how MB ended up subscribing we may never know, but it’s clear he ticked a box by mistake.

However, the company has promised to act positively after we shared this story.

It said: “We are exploring a new process whereby customers that try our website builder will not be charged until they publish it. Additionally, we’ve engaged our website team to test our checkout procedures and improve the customer experience during the ordering process.”

Two points rise out of this. First, read and re-read any boxes you’re asked to tick – or untick when buying online. Second, check bank or credit card statements, so you don’t get hit by months of rogue payments. It’s easy to miss small regular payments, so look at the destination of the payment as well as the amount.

OUTCOME: Vistaprint agrees to improve its procedures

SIMON READ is a a money writer and broadcaster. He was personal finance editor at The Independent and is an expert on BBC1’s Right On The Money

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Can I transfer part of my buy-to-let property to my daughter to reduce my tax bill?

Question

I wish to sell my buy-to-let property in the next few years. Can I transfer part of the property to my daughter each year to minimise capital gains tax by using my yearly allowance? While it would take about six tax years to transfer all of the property, it is likely we would do this for the next two years and sell up in year three.

From

TM/Chester

In law, you can dispose of your property in the way you envisage. However, a piecemeal transfer in the way you suggest is likely to be deemed a tax avoidance scheme under the ‘Ramsey’ principle. This says one should look at not only a transaction but the series of steps around it and their effect.

Clearly, this series of transactions would be to avoid tax and, in this way, the scheme would be disallowed under the anti-avoidance legislation and potentially taxed as if you had transferred the property to your daughter on the first transfer.

There is further anti-avoidance legislation that taxes in full on the initial transfer in a piecemeal transaction, where there is a commitment to transfer all the property from seller to buyer. In a similar fashion, the transaction would be taxed if you had transferred the property to your daughter on the first transfer.

In any event, a transaction that involves a related party would be valued at an arm’s length basis and therefore the disposal value for tax purposes would be the value of the property on the open market.

For inheritance tax purposes, the transaction would be deemed to be a potentially exempt transfer and would be free of tax seven years from the last transfer from you to your daughter, or taxed at up to 40% if you don’t survive seven years from the last transaction.

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This article was written in response to a reader’s question. If you have a financial or work/career question that has left you scratching your head ask our panel of experts who will aim to shine some light on the matter.



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الخميس، 30 مايو 2019

Midwest farmers stuck

DES MOINES, Iowa (AP) — Between the country's trade dispute with China and the seemingly endless storms that have drenched the central U.S., Iowa farmer Robb Ewoldt has had plenty of time to think about whether it's too late to plant this season, how much federal aid he might get if he does or whether to skip it altogether and opt for an insurance payment.Instead of driving his tractor, he's driving a truck these days to earn a living while wondering how long it will be before [...]

Source Business - poconorecord.com http://bit.ly/2WhNdin

Tips for Avoiding Credit Repair Scams

As someone who’s working to pay off significant credit card balances, as well as student loan debt, there’s rarely a week that goes by when I don’t receive some sort of debt relief marketing.

I often find myself flummoxed by the increasingly creative ways that these companies find to get their message in front of me. In addition to emails and filling my real mailbox with offers, I’ve even received robocalls and text messages.

While I’m sure I’m not alone in receiving this steady stream of advertising, I have become increasingly concerned with how one might actually attempt to sort through all of these offers to find truly legitimate assistance and not fall prey to scams designed to sink already vulnerable people further into debt.

Even more troubling is that perhaps none of them is legitimate. The Better Business Bureau Scam Tracker received more than 740 reports of debt relief and credit repair scams in 2018, costing consumers hundreds of thousands of dollars.

With these questions and concerns in mind, I reached out to several debt repair and personal finance experts and asked them to share the best ways to separate the con artists from legitimate debt relief companies.

Spotting Debt Relief Scams

Debt relief scams come in all forms. Perhaps the most common involve companies promising cash-strapped consumers who have significant credit card debt that they will negotiate with creditors on the consumers’ behalf and reduce repayment obligations.

According to the Federal Trade Commission, these predatory operations often charge consumers a large upfront fee, but then fail to help them settle or lower their debts – if they provide any service at all.

Some companies even promise to create “a new credit identity” for you, says the FTC, suggesting they can “hide” your bad credit history or bankruptcy for a fee.

Bogus auto loan modification offers are another take on the scam theme. This approach involves false promises to reduce a consumers’ monthly car loan or lease payments in order to help avoid repossession.

Step 1: Find out exactly what service is being offered.

When you’re contacted by companies offering debt relief, be sure to find out exactly what type of service they’re seeking to provide, says Leslie Tayne, a consumer debt resolution attorney with more than 20 years of experience.

Are they offering a consolidation loan? Are they going to have you declare bankruptcy (which you may not want to do), or perhaps offering credit counseling?

“If you aren’t sure exactly how the process works after the first phone call, then likely there’s a reason it’s convoluted,” Tayne explained.

It’s also a good idea to ask who will be doing the debt-relief work: Is it outsourced, or done in-house?

“Most of the companies that contact you are really lead generation companies who take your info and sell it to several other companies, which is why you may be inundated with mail and calls,” said Tayne. “You should consider asking if this is a lead generation, or are you the company that will be working with me?”

Reputation and time in the industry are important.

Conduct thorough online research about a prospective debt relief company before signing on for any assistance. If you can’t find information about the company or there’s only scarce history available, there’s probably a reason for that.

“They likely just change names and move when they’re about to be pinched; you’re interviewing someone to do an important job for you, so make sure you ask questions and do some research,” Tayne continued.

While sifting through the information online, avoid putting too much stock in glowing testimonials about a company, which can easily be bought or made up, particularly if you see hundreds or thousands of these sorts of reviews.

“In our experience, most clients… don’t want to write reviews because they’re embarrassed and want to remain anonymous,” said Tayne.

Some of the ways to vet credit repair companies include reading reviews about the company on the Better Business Bureau‘s website and searching the Consumer Financial Protection Bureau’s complaint database, suggests Dana Marineau, vice president and financial advocate at Credit Karma.

“Be diligent in your research of companies to find one you trust and one that will help you reach your financial goals. It’s okay to be picky,” said Marineau.

Google Reviews and Trustpilot are still other places to find out if a company is on the up and up, says James Lambridis of DebtMD.com.

“If they have a bunch of disgruntled customers, you can rest assured you will find many negative reviews online,” said Lambridis. “If you see way too many negative reviews compared to positive ones, you should look elsewhere for credit repair or debt relief services.”

Big promises are red flags.

Scam artists in the debt relief and credit repair world prey on consumers who are stressed out and overwhelmed by their financial situation.

Such individuals are often “easily swayed by callers who assure them that they will resolve the debt for pennies on the dollar,” says Tayne. “That’s completely unrealistic in today’s debt world. The moment there are promises for time frames or settlement amounts, it’s a red flag that the company is trying just to sell you and won’t deliver. It’s impossible to predict what a creditor will do, and anyone who says they can doesn’t know this industry.”

What this means for you as the consumer is that you must do your homework, says Tayne. Don’t jump at any offer you get, particularly from a company making unrealistic claims about resolving your debt. Take the time to read the fine print.

Additional red flags include companies that:

  • are pushy and unprofessional;
  • claim they can stop all debt collections calls and lawsuits;
  • refuse to send you any information about their services unless you provide personal/financial information;
  • have no official name or address on their website, just a 1-800 number.

Mike Pearson, of Credit Takeoff, adds two more red flags to this list. A legitimate company, he says, must provide you with a written contract before they begin services, and give you at least three days to cancel.

In addition, while they can dispute items on your credit report and prove them to be erroneous, they shouldn’t promise to remove correct items.

There should be no upfront cost.

A reputable debt relief company will not make you pay for services before they do anything to help you and will be willing to send you free information about their program and services.

“A very common red flag is the company gets paid before your creditors do, or they charge monthly service fees,” explained Tayne. “No way is that legit, and no way is that necessary other than to make them money. Once they’re paid there’s no real incentive for them to work on your accounts.”

If a company asks you to pay them over the phone right away and won’t answer questions about the fees clearly, avoid working with them. The same goes for companies seeking a large sum of money upfront or monthly service fees.

In fact, Federal Trade Commission rules prohibit a debt relief company from collecting any fees until it has negotiated a settlement on a debt – and the customer has accepted the settlement, says Sean Fox, co-president of Freedom Debt Relief.

“Also watch for companies that claim they can settle all debts for a single interest rate reduction. The debt settlement process is more complex, involving negotiating with each creditor. Each settlement will likely be different, and will depend on the creditor, the amount of the debt and other factors,” said Fox.

There are legitimate debt relief offers.

The best arrangements with a debt relief agency or company are those in which expectations are managed and the company contacting you is the one you’ll deal with throughout the entire debt relief program.

“You can’t go into one of these scenarios with unrealistic expectations, and that’s another way to know if you’re dealing with the right people,” said Tayne. “Are they managing your expectations from the beginning, or are they just telling you, ‘Don’t worry, we do this and that and will save you lots of money,’ and tons of one-liners.”

In addition, all of the company’s practices should adhere to the Federal Trade Commission’s Credit Repair Organizations Act and you should be provided with a copy of those regulations, said Justin Lavelle, chief communications director for Been Verified, the online background check platform.

No two debt cases are the same.

The company you’re working with should treat you as an individual, know your short- and long-term goals, and be able to lay out a clear road to recovery, said Tayne.

“If it doesn’t feel right, then it isn’t, and just move on. There are legitimate companies out there to help you,” said Tayne. “Go with your instincts.”

And one last point to keep in mind – there’s nothing a credit repair service can legally do that you can’t do on your own, said Lavelle.

For instance, it’s your legal right to request a credit report, yearly, free of charge. And once you obtain the reports, you can review them for negative items.

“Then, you can contact the credit bureaus and dispute any items you feel are inaccurate,” said Lavelle. “From there, you can contact the specific company who has your account, possibly a collection agency and negotiate a settlement agreement directly with them.”

Mia Taylor is an award-winning journalist with more than two decades of experience. She has worked for some of the nation’s best-known news organizations, including the Atlanta Journal-Constitution and the San Diego Union-Tribune. 

Read more: 

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JCPenney closing 20 U.S. stores: Is yours on the list?

Add JCPenney to the list of retailers closing stores.The Texas-based department store chain said it will shutter 20 locations this summer, according to Country Living.JCPenney has about 800 stores nationwide. It joins a number [...]

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10 Super Simple Ways to Save on Food While Traveling

Finding Grocery Store Value: 10 Inexpensive Food Items That Work in a Lot of Meals

One of the most transformative things you can do to alter your spending habits is to learn how to cook at home while using inexpensive staple foods as the backbone of your diet. In other articles – most of all, this one, which is one of my favorites I’ve ever written – I’ve identified six key staples that can make up the backbone of a healthy, tasty, and culinarily diverse diet: rice, beans, oatmeal, pasta, eggs, and on-sale fresh produce. Every single one of those items is incredibly inexpensive, at least reasonably healthy, and can be used in an absurd number of dishes in very different styles.

Still, you can’t just subsist on those items alone. While they’re the big leaders in terms of “bang for the buck” in the grocery store, there are many other items that I consider a tremendous bargain in terms of being healthy, tasty, and useful in a lot of different ways. I consider these items to be the “second tier” of value in the grocery store – if you’re filling your cart up with these items and the staples listed above, heading home, and making meals with all of this stuff, I’ll almost guarantee that you’re eating a healthy and low cost diet.

Let’s dig in!

Cottage Cheese

You can easily find a pound of cottage cheese for $1 or $1.25 in my area, which is an amazing deal. I enjoy eating three or four ounces of cottage cheese (about a quarter of the container) with some pepper on top for a snack that costs about $0.30, or using it as a really easy side dish for a lot of meals, but that’s just the start.

For starters, cottage cheese is a pretty solid low cost substitute for ricotta cheese in a lot of dishes that use ricotta, such as lasagna. You can puree it and add a few additional ingredients and it works as the foundation for a delicious and simple alternative to cheesecake (I’ve enjoyed these “cheesecake” bars and they’re tremendously tasty.). I love putting it on apple slices to make an apple have a little protein in it as a snack. You can puree it and use it as a spread for bagels or toast – it can be savory or sweet depending on what you add to it. You can use it to make a fantastic paneer, like this or this. You can even use cottage cheese to make scones!

It’s a really diverse ingredient in a lot of different dishes and different styles, it’s tasty on its own, and it can easily be remixed into sweet and savory items. Given that it’s also only a little more than a dollar a pound, it’s one of the better bargains on store shelves, and it’s a pretty healthy protein source to boot.

Carrots

Whole carrots are almost always inexpensive in our area. I can typically find a pound of whole carrots for less than a dollar, which is far less expensive than buying baby carrots (which are basically cut up whole carrots. Not only that, whole carrots are actually easier to use for most purposes that aren’t centered around convenience snacking, and you can easily cut up whole carrots into discs that work well for a convenience snack like baby carrots.

Carrots, as with everything else on this list, have a ton of different uses. They’re pretty good just cooked on their own with a simple glaze, like these bourbon-glazed carrots. They shred really well and work in a lot of salads. You can puree carrots and basically use them alongside chickpeas in hummus. They’re amazing in all kinds of different soups, even as an unusual ingredient in things like chili. I loved mashed carrots with a bit of maple syrup for just a hint of sweet – you basically cook them and mash them like mashed potatoes. And then there’s carrot cake…

The best part is that carrots are extremely healthy. They’re one of the best foods you can eat and are a great source for beta-carotene. The fact that they’re tasty as a finger food, can be used in so many different ways, and don’t ding you at the cash register should make carrots a part of almost everyone’s shopping list.

Potatoes

Potatoes are incredibly inexpensive. You can easily get a pound of potatoes for less than $0.50, depending on variety, and they have such incredibly varied uses.

You can bake them by simply wrapping them in foil, popping them in the oven, and then cutting them open and putting on some sour cream or butter. You can mash them by cutting them into cubes, boiling them, and then mashing those softened potatoes. You can cut them into strips and fry them in a deep fryer to get some delicious French fries. You can cut them into discs or wedges, wrap them in aluminum foil with a bit of olive oil and some herbs, and toss them on the grill for thirty minutes for amazing roasted potatoes. You can cut them into discs and cook them in a skillet with a bit of oil for fried potatoes. You can shred them, form them into discs, fry them in a skillet, and make amazing latkes. You can also just cook the shredded potatoes (or cut them into tiny cubes) for hash browns. You can take leftover mashed potatoes and make all kinds of things – I particularly love potato pancakes. You can cut them into thin discs and fry or bake them to make chips. All of these things have infinite variations and infinite flavor possibilities.

The fact that the humble potato can make a wonderful side dish for grilling, for a big family brunch, for a formal dinner, for a burger, for pretty much any meal and have it work in some variation is amazing, and the fact that you can pick pounds of them up for just a few bucks speaks to the value that potatoes can add to your diet. Naturally, you wouldn’t want a diet made entirely of potatoes, but they can definitely fill a role in a healthy, balanced diet.

Cabbage

Cabbage is one of my favorite unsung cheap foods. Not only is cabbage absurdly cheap, with a large head available for pocket change almost all year round, it’s got a ton of different uses for such a wide variety of foods.

When I was growing up, cabbage rolls were a frequent meal, consisting of small individual meatloaves wrapped in a large cabbage leaf and baked. There are infinite varieties on this – you can wrap almost anything in a cabbage leaf and bake it. Cabbage is also the backbone of a lot of great salads and slaws – shredded cabbage, a bit of shredded carrot, and some mayonnaise makes for a great quick side dish, for example, or you can get a little funky with it. Cabbage also cooks well in vegetable soups and stews and is an essential part of corned beef and cabbage which is incredibly popular around St. Patrick’s Day. You can slice it up for stir fry, roast it in the oven, or even use it for one pot pasta.

My favorite use, though, is sauerkraut. My father and grandfather both made homemade sauerkraut in crocks in their garages and sheds, shredding several heads of cabbage, adding salt, weighing it down, and covering it for several weeks until it was perfect – gently sour and salty and wonderful to eat as a side dish or on top of mashed potatoes or on a hot dog or bratwurst. I make mine like this, in individual wide mouth quart Mason jars with rings, these fermentation lids, and these glass weights to keep the cabbage below the brine. All you need beyond those things is cabbage, salt, and a little water, or maybe a few other ingredients if you’re experimenting with sauerkraut variants. I love sauerkraut and would eat it every day; kimchi is a similar fermented cabbage food that I also quite enjoy.

Cabbage is an item that’s easy to overlook in the grocery store, but don’t. There are many delicious uses for this humble vegetable.

Apples

Most apple varieties can be found for $1 per pound or so, making them a pretty inexpensive food. There are a few varieties that are more expensive – honeycrisps come to mind – but I like Galas and Granny Smiths and those are usually easily found for about $1 a pound or about $0.20 to $0.25 per apple. That’s a pretty sweet deal.

Apples are wonderful for the obvious reason – you can just grab one and start eating it for a sweet but still pretty healthy treat, and the core can simply be tossed. They also work as ingredients in tons of other dishes, from simple things like smoothies (just toss in a sliced apple) and apple cider (just cook apples into near-oblivion and strain out the big pieces with a cheesecloth) and apple butter to dishes like apple crisp and apple pancakes and apple pie and apple-cranberry chicken… it goes on and on.

One of my favorite uses for apples is to make apple cider vinegar, which is basically the liquid from fermented apple scraps. You basically just fill a jar mostly full with apple scraps, add some sugar to a cup of water, add water until they’re submerged, put a fermenting lid on top, and wait for three weeks. Strain it, put the liquid back in the jar, and let it sit for another three weeks with the fermenting lid on, and you’ll have apple cider vinegar. It’s actually very similar to making sauerkraut, as described earlier. Here’s a detailed recipe if you’re interested.

All of that for a buck a pound or so? That’s a pretty good food bargain if you ask me.

Bananas

I can buy bananas at the store for $0.20 a pound. Now, it’s worth noting that at least some of that weight is the skin itself, but that’s still an astoundingly low price for the deliciousness and versatility of bananas. Much like apples, their default use is wonderful – grab one, start eating, toss the peel when you’re done – but there are many, many more uses for them.

Banana pancakes. Banana splits. Smoothies. Banana bread. Baked bananas. It’s an amazing topping on French toast. Banana pie. Fruit salads. Banana chips. Even banana ketchup (seriously).

Bananas are quite sweet, so you’re usually limited to sweeter things with them, but their extremely low cost, ease with which they can be eaten raw, and the diversity of dishes that they can be used in is quite wide. (And you really should try banana ketchup.)

Peanut Butter

Peanut butter is one of my favorite foods to have around the house. Often, when I want just a tiny snack, I’ll pull out a spoon, get a big spoonful of peanut butter straight from the jar, and pop it in my mouth, and from there the spoon goes right in the dishwasher and the jar right back in the cupboard. It’s such an easy and inexpensive little snack, since a one pound jar of peanut butter is just a little more than a dollar and it’s so filling.

Of course, peanut butter can be used in tons of other things, from the simple things like peanut butter and jelly or peanut butter and banana sandwiches and as an ingredient in smoothies to other items like peanut butter cookies, peanut butter pancakes, and peanut butter and chocolate brownies. I like putting a spoonful of it right in my oatmeal or on top of waffles or French toast in the mornings.

Where it really stands out for me, though, is when it’s used with savory foods. I love making pad thai with peanut butter right in with the vegetables (often along with a few peanuts, too). One of my closest friends swears by the use of peanut butter as a burger topping. It actually makes a really good salad dressing. On top of that, one of my favorite condiments is Dutch peanut sauce, which makes for an amazing condiment and French fry dip.

Our pantry wouldn’t be complete without a big jar of peanut butter in there, and as soon as we run even a little low, it’s instantly added to our grocery list.

Canned Tomatoes

While I absolutely love fresh tomatoes, they can be somewhat expensive when they’re not in season. On the other hand, canned tomatoes in all of their varieties (diced, crushed, tomato sauce, tomato paste) are all incredibly inexpensive, incredibly useful, and quite tasty, too. They’re really the only canned vegetable we use, and we use them quite often.

I can’t even begin to list the uses of diced tomatoes, tomato sauce, and tomato paste. I use them in all kinds of things, from making my own quick pasta sauce to making any number of different soups, from making salsa to producing a quick pizza topping or sauce, from making sloppy Joe sandwiches to making a delicious liquid for cooking grains (I’ll often use tomato sauce right in the liquid when cooking rice to imbue the rice with extra flavor and color, for example). We’ll use them in goulash and as a taco topping and in lasagna and as a topping on margherita pizza. I love mixing diced tomatoes with macaroni and a little salt for an excellent side dish or a quick lunch, or just simmer tomatoes with beans and cheese for an easy and quick dinner.

The uses for canned tomatoes in all forms – whole, diced, crushed, sauce, paste – are nearly infinite. I pretty much always have a few cans of each type in the pantry and I will stock up hard every time they go on sale.

Sweet Potatoes

Sweet potatoes might just be Sarah’s favorite food on the entire planet. She eats them constantly and in all kinds of different ways, and they’re generally not much more expensive than regular potatoes.

For the most part, Sarah likes to mimic the use of normal potatoes with them. She’ll bake them just like baked potatoes. She’ll make fries with them. She’ll mash them (except that she’ll often add a bit of maple syrup for just a bit of sweet). She’ll even grill them. She’ll also use them in things like stir fry, cutting them into little pieces and tossing them right in with the other vegetables.

However, what really makes sweet potatoes stand out is their use in sweeter dishes, things that don’t really click with normal potatoes. She’ll toss cooked sweet potatoes into smoothies. She’ll make sweet potato pie. She’ll put them in salads. I swear she’d sneak sweet potatoes into every meal we eat.

I’ll be the first to admit that sweet potatoes would not be my number one choice on this list, but given the low price and the love my wife has for them and the number of uses that they have, I have to give sweet potatoes a big mention.

Whole Chickens

With this last entry, it’s worth noting that I am on a pretty strict plant-based diet for health reasons, so this isn’t something I actually eat myself lately. Having said that, whole chickens are, in my opinion, the absolute best meat bargain in the grocery store and would be on my list constantly if I were eating them. To be clear, when I refer to whole chickens, I mean both raw whole chickens from the store as well as the somewhat more expensive precooked rotisserie chickens. They’re both bargains.

With a rotisserie chicken, you have a ton of meat that’s ready to eat almost immediately. At the prices for which they usually sell, that’s enough food for several meals if accompanied by other items.

It’s easy to cook a whole chicken at home on the grill or in a slow cooker. If you prefer, you can also cut it up into pieces and cook them separately in any number of ways – grilling, frying, roasting, whatever works. You can remove the meat – cooked or otherwise – from the bone and use it in countless dishes, from chicken noodle soup to chicken salad, from white chili to chicken sandwiches, from chicken pot pie to fettuccine alfredo with chicken. The uses are nearly infinite, and the dark meat is often just as useful as the white.

In any case, when you are left with the carcass and any unwanted meat and skin, it’s wonderful for making chicken stock. Just put the carcass in a slow cooker, cover it with water, add a few peppercorns and some salt, and let it cook on high for many hours. Strain it and save the liquid – it makes for the backbone of many wonderful soups that use other ingredients in this article.

Whole chickens are a tremendous bargain, not only in the meat they provide, but in the delicious broth that you can get out of the carcass.

Final Thoughts

If your grocery list looks something like this…

Rice
Beans
Eggs
Oatmeal
Pasta
Produce that’s on sale
Cottage cheese
Carrots
Cabbage
Potatoes
Apples
Bananas
Peanut butter
Canned tomatoes
Sweet potatoes
Whole chicken
Seasonings and spices

… you’re probably eating a pretty healthy and pretty low cost diet with a lot of day-to-day variety. It wouldn’t be hard to take the items on that list and make a pretty varied diet with just those items alone, nothing else. If you add a few items here and there for a few meals, you’ve got yourself a splendid low cost, nutritious, and healthy diet with a ton of variety.

Make yourself a meal plan and a grocery list with these essentials in mind and head out the door. You might just find the path to cheaper and healthier food is easier and tastier than you thought.

Good luck!

The post Finding Grocery Store Value: 10 Inexpensive Food Items That Work in a Lot of Meals appeared first on The Simple Dollar.



Source The Simple Dollar http://bit.ly/2Qz6qGd

How to Stay on Top of Your Finances Without a Budget

If you grumble at the thought of budgeting, you’re not alone.

The Penny Hoarder recently conducted a financial literacy survey of approximately 1,500 adults and found 40% do not budget their money.

Despite the resistance, creating a budget is what most financial professionals recommend, said Holly Peterson, financial consultant and owner of Elite Retirement Strategies in Pocatello, Idaho. But if you hate limiting your spending with a budget, you might want to take a few months off and focus instead on expense tracking.

“By tracking their spending, people can see where they’re overspending or where certain financial problems are,” Peterson said. “For instance, you might realize that you should probably start packing a lunch from home instead of buying every day. But if you’re not confronted with how much money you’re spending each week or month on takeout, you might never feel the need to change.”

Keep a small notebook with you and jot down whenever you make a purchase throughout the day. The day-to-day record keeping may seem tedious, but try your best to stay consistent.

“Everyone makes mistakes, and there might be days where you forget, but track every purchase, even if it’s an impulse buy, and keep up with your tracking,” Peterson said.

She said you may find yourself being less impulsive with your money now that you have to write everything down and hold yourself accountable for what you buy.

Pro Tip

Peterson recommends taking your tracking one step further and color-coding your purchases by spending category or designating between essentials and nonessentials.

If tracking your expenses manually isn’t your style, download a budgeting app that links to your bank and credit card accounts.

“Mint is a great example, because it automatically breaks down your spending into categories, like food and entertainment,” Peterson said.

At the end of the week, total everything up and review how you spent your money.

“Tracking your spending is a great way to make sure that your long-term priorities are matching up with your everyday actions,” Peterson said. “If you want to retire by a certain age, but you’re spending too much to add to your retirement fund, you have an issue.”

While expense tracking is a good first step to managing your money, you shouldn’t stop there. After a few months of recording and reviewing what you buy (and making necessary changes), it’s time to — hold the groans — create a budget. Instead of feeling restrictive, however, your new budget should mirror your actual spending while prioritizing what’s important to you.

Peterson said some people dislike budgeting because they aren’t starting with realistic budgets.

“If you’ve never tracked your expenses, you may have no idea how expensive your lifestyle really is, so suddenly cutting down on everything feels painful — when in reality, you could just take a month or two to track your average daily spending and then figure out where there’s room for improvement,” she said.

Nicole Dow is a senior writer at The Penny Hoarder.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.



source The Penny Hoarder http://bit.ly/2XlKocQ

Get Your Money Under Control: 7 Smart Ways to Organize Your Finances