Money Feuds

Secondhand Shopping

2010-04-27T16:32:00.000-07:00

Photo credit: Jules, Flower Power linens

My husband and I both love used books. Often after visiting the library, we browse the secondhand book store before heading home. And neither of us mind using these 1970's flower powerbed linens. They were originally my parents, but since they've upgraded their bed size, I snagged them (I love the colours and the pattern).

As for clothing, shoes, and bags, though, our enjoyment of secondhand deals differs completely. I'm the one who loves thrift stores - when I'm in one, I'm a child in a candy store . My finds range from ecclectic vintage threats to professional, classy, up-to-date name brands. And all of these are always at a fraction of the price. However, since secondhand boutiques are gaining popularity, this doesn't always equate with a "cheap" find. I've seen jeans selling for more than $60 and some of the vintage labels are a bit spendy, too.

As for my husband, while he likes to find a good deal at TJ Maxx, he is freaked out by getting clothes at thrift stores or drinking glasses at antique stores. We just don't get each other on this one.

The way I look at it is, don't people try things on at Carolina Herrera and Macys? And don't you wash the stuff when you bring it home? Some goes for the glasses. So for me, I don't fret about where the item has been. Plus, I feel very content buying used because it is a green choice as it not contributing to the creation of new products.

How about you? Are you keen on thrift stores or do you steer clear? Also, if you have any recommended secondhand stores in your city, please do tell.

How to Live Greener Without Spending Money

Earth Day poem

Money Hint #2: Use gift cards to purchase gifts

2010-03-12T20:18:00.000-08:00

When you receive a gift card as a present and don't have an immediate or near future use for it, consider using the value on that card to purchase a lovely gift for someone else.

Money Hint #1: Free Gift Wrapping

2010-03-11T20:18:00.000-08:00

Whenever you purchase a gift for someone, ask the store if they provide free gift wrapping. It can save you time and money on supplies, while providing you with an expertly wrapped present.

Cut Your Losses or Throw in the Toalla de Playa

2010-01-12T18:57:00.000-08:00

A recent money drawn has resulted in my family throwing in the toalla de playa, or beach towel, so to speak.

About 6 years ago my husband was so adoringly smittening after his stay at a lush Mexican resort that he ended up buying a time share into that Mayan Riviera property. Up to this point he hasn't regretted it. However, 2009 was the first year in which no one in our family was able to go and enjoy the spendy purchase from years past. Plus, it was a year that the rennovation fee went into place. So for a year in which we did not step foot on the resort (or in Mexico for that matter... que lastima!) we were looking at a fee of $500 (for the annual membership dues) plus $700 for the rennovation fee (which is charged every several years), for a grand total of $1200.

Granted, we would have loved to returned to those gorgeous blue waters, enjoy fish tacos (and pizza de camarones - one of my favourites!) and spend leisurely days exploring the natural and urban areas near us, however we just couldn't stomach paying over one-grand for not having a proper holiday get-a-way in 2009. Plus, with money tight for everyone, we would have had to make major sacrifices in other areas of our lives over the course of several months even to come up with the extra money to pay those fees (note: we could use some from our regular savings or emergency fund, however for this type of expense we avoid doing so by tweeking our bills for several months to free up incoming month and putting it towards the current travel/vacation-related expenses).

The negative part of this is that we have forfeited our timeshare with that lovely resort. However, we believe that when the time is right for us to return to Mexico, we can find our own deals and create a new tradition south of the border.

When have you thrown in the towel for a money drain or cut your losses temporarily in the present to prevent further losses in the further?

Money & Marriage Article Link

2009-10-11T21:57:00.000-07:00

Interesting article from MSN Money: Why savers and spenders marry by MP Dunleavey. What do you think? Are you paired up with your opposite, financially speaking? If so, are you the saver or spender?

Green Habits Keep Green in the Bank

2009-09-19T09:21:00.000-07:00

I was thinking about it the other day... what are my most eco-friendly habits and how do those effect my personal finances. Here's the list I came up with of those green-tinted habits:

*paper: completely use both sides of paper, make grocery lists on envelopes that are mailed to me, use those same envelopes for storing coupons, receipts, etc.

*beauty: don't use hair dye, rarely use make-up (only a few times a year, if that!)

*water: take short showers, use the clothes and dishwashers only when full, don't leave the water running when not in use

*driving: minimal driving, group trips together, drive a fuel-efficient Japanese car, being a conscious driver (no quick stops or speeding)

*clothes: buy second hand clothes, happily accept hand-me-downs, mend and rotate clothes currently have, wash clothes only when necessary to increase their life

*books & videos: borrow from the library

*computer: hibernate or shut down when not in use

*rubbish: compost foodstuff for garden soil, recycle what I can, reduce purchases that have lots of packaging

Those are some of the areas that I feel I at least a little green in and that may be helping me to hold onto more of my greenbacks. How about you? What green habits of yours are allowing you to keep more green in your bank?

Money Mistake: Lost Costco Gift Card

2009-08-05T17:36:00.000-07:00

My top financial mistake this week was misplacing (losing?) my new Costco gift card. About a week ago I received a $50 card in the mail (as a gift for signing up for a Cable/Phone/Internet bundle). Excited to use it, but having enough insight to delay my Costco run until firming up my list (me + no list at Costco = bringing lots of cool stuff home while leaving lots of my money at the store), I "safely" set it on my mail counter.

Yet, today, wah-lah, the gift card is MIA. It's missing! Lost! Stolen (that one's probably dramatic, but still)! No matter the reason for its disappearance, I am highly saddened, frustrated, and disappointed by this recent financial mistake. Gift cards rock, but I always seem to hold onto them too long... so they end up getting lost or they expire before I use them. This is the anti-thesis to peaceful finances when you are counting on that card to cover some needed costs.

How about you? Have you ever lost a gift card or let it expired unintentionally?

Prime Time Money's Review of High-Yield Online Savings Accounts

2009-05-12T08:46:00.000-07:00

Prime Time Money has recently posted a handy review of the major players in the online high-yield savings accounts. To read his post, check out High-Yield Savings Account Mini-Reviews. It's a nice article to get an idea of some of the online banks and what their current offerings are.

Go Green, Gain Green

2009-02-02T06:18:00.000-08:00

Image by author, March 2008, Oxford

The green movement is quite trendy today. Yet, many people have been living green for a long time, maybe without even realizing it. No matter the reason for "going green", green choices are often economical. A big (broad) example is that reducing one's consumption is probably one of the most environmentally-friendly things a person can do. Decrease your amount of consumption (of cars, clothes, energy, electronics, fuel, food, paper, plastic, toys, water, etc.) and you will inevitably save money as well.

Green (our environment) and green (your money) go hand in hand. "Going green" does not only mean buying expensive pairs of organic jeans (but props to you if you can afford them and want to spend your dough on them) or having the latest, coolest Hybrid. Driving a 1998 used-Honda that is well-maintained can be what makes sense for you. And it can be especially green if you are conscious about your driving habits (no quick starts or stops) and you try to lump trips together when you do drive (instead of walking, taking public transportation, or biking). Likewise, buying new (even if it supposed to be eco-friendly), while trashing something older, doesn't necessarily make sense, especially if the old goes directly to the landfill.

Being conscious and reducing what you consume are things that can easily earn you more green [since more green money (at least for those in the States) will remain in your savings account]. At the same time, you are being "greener" and more eco-savvy.

For more thoughts on being a clean, green machine:

How to Live Greener Without Spending Money

Quality vs. Cost

2009-02-01T07:08:00.000-08:00

I'm slowly learning that quality needs to be a bigger factor in my consumeristic decisions.

As a college student, cost ruled my world. At TJ Maxx, I picked the running shoes with the lowest cost. Score! At the thrift store, I'd snag some sweet finds. Vintage Levi's for $8. Say hello to mama! A free avocado-green blender, from my Aunt, that hasn't been used in decades. Sweet!

TJ Maxx, thrift stores, and hand-me-downs still have a role in my life (especially for cool clothes deals), but as I'm getting older and my husband and I are starting to purchase appliances and furniture for our home, I am becoming more aware of the importance of quality. For example, when I'm looking for pots and pans, I don't necessarily want to get the cheapest ones I can find. The greenest and most economical decision is to get quality pots and pans, with a timeless look that will withstand the test of my experimental cooking for years and years and years. Basically, I want those babies to last.

So, for me, no more really cheap deal on a blender that will only lasts through one smoothie-making blitz! I'm looking for stuff that will go the distance. That is good business for my pocket book and for the Earth.

How about you? How do you weight quality versus cost in your decisions?

Dave Ramsey's "Drive Free, Retire Rich" Video

2009-01-21T08:26:00.000-08:00

I just watched a video about the cost of car ownership. Dave Ramsey addresses the obvious to the not so obvious in this cute but effective video. While this was created to demonstrate what a money drain cars can be, especially when they are purchased new and replaced soon, the concept can be extended to other aspects of one's financial life.

Increase the Peace: Fizzle out the Feuding

2008-12-19T15:45:00.000-08:00

Feuding from time to time about money is natural for most couples. But never is it fun or the best use of time, especially in the dwindling free time of modern day life. So taking steps to prevent arguments and reduce the intensity of ones that may occur is vital are to creating more positive interactions regarding finances. Some of the basic ways feuds can be curtailed are communication, openness (being honest and sincere!), and being a team in developing (and adapting, etc.) a budget along with short-term, medium-term, and long-term financial, personal, and family goals.

Here are some great articles regarding ways to reduce the feuding and opening the lines of communication to help stamp out the feuds:

From Prime Time Money - 6 Ways to Argue Less About Money
From Get Rich Slowly - Ask the Readers: How Can I Get My Wife to Talk About Money

Reduce the feuding and increase the peace!

Yin vs. Yang or Saver vs. Spender

2008-12-05T10:11:00.000-08:00

Often relationships are composed of one person more inclined to spend and the other person more inclined to save. Sometimes the difference between the "spender" and the "saver" are vast, while other times, the difference is subtle. Even the categorization of who is the "spender" and who is the "saver" may switch depending on the scenario. However, any difference in personal finances has the potential to cause some degree of conflict.

Having these differences does not have to be an all out battle call, though. Despite being opposing energies, yin and yang are naturally complementary. So, too, can it be with the saver and the spender when they come together in a relationship. A better, more balanced partnership can result.

To spend. To save. Those are two essentials of modern day life. Actually, those two concepts have been a component of life, spanning the stretch of time. Today we usually think of these verbs in terms of money. But energy and time are also things that can be spent or saved. One can choose to conserve or expend energy, which is closely tied to how one selects what activities they devote their time to. There have always been these options in life when one really thinks about what "spending" and "saving" means. And when viewing these verbs from a broad scope, one can see that each act is important. Each act is needed to sustain life. And that each act has its own place and importance in living.

When we jump back to saving and spending in relation to money, we can likewise see that only saving or only spending really makes no sense. You can't really live life being on the extreme of either end. A balanced life requires a thoughtful approach to saving and a thoughtful approach to spending.

In the rare case that the "saver" in the relationship hoards money to an unnatural degree and the "spender" is spending money with reckless abandon, finding a healthy balance will be more of a challenge, but nonetheless, not impossible to merge. Working as a unit, this pairing can create a more natural, balanced approach by helping each other step outside of their normal relationship to money so as to find a more healthy way to deal with their financial life.

Luckily, most couples that differ on the financial spectrum don't approach money in such a contrasting way that they are on the opposite ends of the spectrum. And since most couples come together in the hopes of creating a healthy, joyful, responsible, and purposeful life, obtaining a general conscious on financial matters does not have to be approached as a battle between opposites. Spending and saving are both components of creating such a life together, so recognizing the importance of each element in money management can go a long way in coming together as a team regarding finances.

Family Feuds when Opposites Attract

2008-12-04T19:25:00.000-08:00

Opposites may attract, fall in love, get married, and live happily ever after. But when a couple has opposite views on the financial front, things can get a little intense at times.

Many people stress the importance of marrying someone who has similar values regarding money. That's wise fodder for consideration, but even when this occurs, the financial spectrum is huge, and thus, varying values on different financial aspects are a possibility. And even if there is a general consensus (e.g., that building an emergency fund is important), couples may assign different degrees of importance to a goal (e.g., one thinks that saving 3 months of income is plenty while the other wants to fill that fund with a year's worth of expenses).

This blog is an acknowledgement to the fact that even the most cohesive families may feud at times due to money matters. Yet, while these disagreements about financial topics may occur, our purpose is to find a way to calmly approach family finances, compromise as needed, and obtain a healthy balance so that these different view points don't override what should be a cozy atmosphere of love and joy at home.