Budget Advice by GivingGrinch.com

Healthy food, fast and cheap (USA Today)

2010-01-28T15:07:00.000-06:00

The usual January diet drill has an unusual proponent in 2010: the fast-food industry. Many of the nation's largest fast-food chains — better-known for their often fatty, high-calorie foods — are loudly touting diet and low-calorie offerings. Familiar brands from Taco Bell to Starbucks to Dunkin' Donuts are rolling out new products and ad campaigns in an attempt to lure calorie-conscious consumers during the month when the $170 billion fast-food industry typically sees sales slide. USA Today reports.

FAQ on new credit card rules (Kiplinger)

2010-01-20T20:45:00.000-06:00

Striking a blow for freedom and transparency, consumer-friendly rules mandated by the Credit Card Accountability Responsibility and Disclosure Act of 2009 take effect on February 22, Washington’s Birthday. Not sure what this means to you, this article by Joan Goldwasser of Kiplinger should help.

Five ways to improve your credit

2010-01-18T20:35:00.000-06:00

Whenever—wherever—you’re trying to get credit, your credit score plays a part. Trying to rent an apartment? Your landlord may well check your credit score. Need a car loan? Your dealer or bank will check your credit score. Buying a house? Your mortgage interest rate will be affected by your credit score.

With so much resting on your credit score, you can’t afford to ignore it. Here are some basics to help you understand what to look for and why courtesy of Charles Schwab.

How good is your 401(k)?

2010-01-13T20:32:00.000-06:00

Americans increasingly rely on their 401(k) plans for retirement, yet typically understand little about how their plans work, or how they compare with offerings at other companies. Is your 401(k) cheap or expensive? Does it offer good investments or mediocre ones? A generous match or a stingy one? And most important: Will your 401(k), and the way you take advantage of it, get you through retirement without running out of money? Business Week discusses a novel concept by BrightScope, a San Diego start-up.

How to fix your finances in 2010 (WSJ)

2010-01-08T20:59:00.000-06:00

To help you accomplish your many New Year's ambitions, here's a year's worth of personal-finance aspirations, timed to major holidays to raise your chances of success.

Your Ultimate Shelf Life Guide - Save Money, Eat Better, Help The Environment

2010-01-06T22:45:00.000-06:00

Not sure how long that Costco sized salsa bottle will last? Can it be frozen for later use? I was referred to this site by a reader and wanted to share it with my readers. Check out StillTasty.com and learn how long foods last and what you can do to maximize its shelf life.

Condoms and canned goods

2010-01-04T17:41:00.002-06:00

What's the last thing people want in a recession? More kids, apparently. According to data-tracking firm the Nielsen Co., dollar sales of products in the "family planning" category, which include condoms and over-the-counter female contraceptives, were up 10.2%. In fact unit sales were up 1.5%, which indicates that consumers are willing to pay higher prices today to prevent crib expenses tomorrow. This is an article run my Time Magazine in mid-2009, but it's full of observations and advice. Read more, click here.

Living large in lean times

2009-12-29T09:01:00.001-06:00

Mens Health Magazine brought together a roster of contributors and peered into the pocketbooks of more than 1,000 men in their largest-ever financial survey to help readers find ways to live better, for less. Read on, and start reaping the rewards.

Happy New Years!

Cavities, tap water & fluoride (WSJ)

2009-12-26T18:44:00.001-06:00

From the WSJ: The prevalence of cavities in children aged 2 to 5 decreased steadily through the 1970s and 1980s, thanks largely to the expansion of water fluoridation and to advances in treatment and prevention, dental experts say. The trend appeared to hit a low around the mid-1990s, when about 24% of young children had cavities, according to data from the Centers for Disease Control and Prevention.But tooth decay then began heading higher. A CDC survey found that 28% of small children had cavities in the five years ended 2004, the latest data available. The reasons for the increase aren't entirely clear. But dental experts suggest it may be due to children drinking more bottled water that doesn't contain fluoride, and to changes in dietary habits. You can read the rest of the article here: Link. And, an article I wrote about water consumption for this blog here.

Free airport Wi-Fi for the holidays

2009-12-13T18:21:00.001-06:00

Google is footing the bill for WiFi access at 47airports in the United States through mid-January. For a list of locations, click here.

Gift for all seasons and reasons (re-post)

2009-12-10T17:59:00.000-06:00

Gifts for all Seasons or Reasons

Gift giving, in this country, is a social norm and therefore a social need in our hierarchy. We’ve all received gifts for which we have little or no use. Unknowingly, we may have given gifts like this as well. For many of us gifting can be time consuming and expensive. With the holidays behind us, now is the perfect time to get this year’s gifting in order – GivingGrinch style.

Imagine always having the perfect gift – something personal that anyone would appreciate – on hand. I have three gift ideas you can make today, but first the criteria I came up with:

1. Something personal (preferably homemade)
2. Something anyone can use
3. Ability to make and store in bulk
4. Economical to make, but not something others will find cheap
5. Long shelf life

Spices and Rubs
There are tons of spice and rub recipes available on the web. One you can buy at the store is Emeril’s Essence. Instead, make your own and “spice it up” as a gift. Mr. Lagasse provides this recipe on his website, http://www.emerils.com/. Adjust the ratios to make in bulk.

• 5 tablespoons sweet paprika
• 1/4 cup salt
• 1/4 cup garlic powder
• 2 tablespoons freshly ground black pepper
• 2 tablespoons onion powder
• 2 tablespoons cayenne
• 2 tablespoons dried oregano
• 2 tablespoons dried thyme

Spice/Rub Shelf life: Dried leafy herb mixes will last 1-3 years, ground or powdered herbs retain freshness up to a year.

Homemade Herb Infused Olive Oil (for drizzling or dipping)

1. Choose your herbs. Popular choices are rosemary, basil, mint, tarragon, thyme or marjoram. Another option, whole garlic.
2. Wash and thoroughly dry the herbs. Slightly tear or bruise the herbs so that they release their aroma and flavors.
3. Heat olive oil over a low flame until warm (not hot). Use a pot or pan with a wide base, like a sauce pan, to evenly warm the oil.
4. Stuff herbs into bottles. A little goes a long way.
5. Pour oil into bottles.
6. Let the bottles sit for a while until cool.
7. Place cork or rubber top on bottle and set in a cool dark place for about a week. If you use garlic, refrigerate the oil to avoid botulism.
8. Strain out herbs or garlic and you’re ready to consume or gift.

Storage: Cool, dark place

Homemade Jam

My family picks berries every year to make jam. I asked my Mom to send me a starter recipe. Here is her No Cook Strawberry Freezer Jam Recipe:

1. Measure 1 1/2 cups sugar into bowl.
2. Add contents of one Ball Company Fruit Jell Freezer Jam Pectin pouch (available at large grocery stores)
3. Stir until mixed
4. Crush fruits, 4 cups (crushed) and add to pectin mixture.
5. Stir 3 minutes
6. Ladle jam into clean jars leaving half inch headspace; apply lids.
7. Let stand until thickened (about 30 min.)

Yield: Five 8 ounce jars. Refrigerate up to 3 weeks or freeze for longer storage - up to one year.

So there you have it - gifts with personality and utility without tasking your mind or breaking your bank.

Direct Buy Commentary

2009-12-10T17:45:00.000-06:00

Kiplinger's December 2009: From the vantage point of your own couch, the furniture, cabinetry and other household items seen on Direct-Buy commercials seem attractive. So do claims that you can save thousands of dollars on your purchase. Don’t take the bait until you find out how much you’ve got to ante up before you can realize any savings. That number is frustratingly hard to nail down, but it, too, can be in the thousands. Link

Five ways wireless carriers try to gouge you

2009-12-06T17:53:00.000-06:00

A recent article in PC World brought to light some tactics mobile carriers use to get more from your wallet including text fees, contract requirements, overseas calling charges, overseas data charges and a few zingers found in the fine print. For the full article, click here.

Goodwill...charatable giving on a budget

2009-12-03T22:50:00.006-06:00

Want to support a worthwhile cause, but money is tight? Charitable giving takes can take on many forms and donating items to Goodwill is a very affordable way to help those in need in your community. The San Antonio Current recently listed a few good things that happen when you donate to the Goodwill.

Job seekers get help through Goodwill operated job banks
Careers get launched at the Good Careers Academy
Those who want to work gain valuable skills working at the Goodwill
Individuals with disabilities find jobs at the Goodwill
Recycling reaches new heights
You may get a break at tax time
Your clutter gets cleared
Good deeds lead to great feelings

WSJ: Gift cards are useful; give me cash

2009-11-22T22:44:00.001-06:00

Suppose someone invented a gift card so versatile it could be used almost anywhere to buy almost anything. It would be available in multiple denominations and sold in multiple locations. You could bend it in half—or even leave it in the pocket of your trunks when you went for a swim—and it would still work fine. Wait a minute. Somebody already invented that go-anywhere gift card. It's called cash. Read the rest of the article here.

Teach children the value of thrift

2009-11-18T20:11:00.005-06:00

By Sharon Cece of Examiner.com (Raleigh)

Children are amazingly resourceful when given the chance. Teaching children how to budget, shop for sales, sort and clip coupons is good for their future resourcefulness.

Continue reading at Examiner.com by clicking here.

Life on severance ...is time running out?

2009-11-10T18:02:00.007-06:00

If the article below resembles your circumstance, you need my help...

Twitter: http://twitter.com/BudgetGrinch
Columns on Examiner: Link
LivePerson Consultations: Link
Email Contact: nanavati@givinggirnch.com

Paul Joegriner hasn't worked since March 2008, when he was laid off from his job as chief executive officer of a small bank. But you wouldn't know it by appearances. His wife, Marzena, shuttles their two young children to private school every morning. The family recently vacationed in Virginia Beach, Va., and likes to dine on Porterhouse steaks.

The family's lifestyle over the past year and a half has been propped up by a $200,000 severance package and another $100,000 in savings -- funds the family has burned through rapidly. By Mr. Joegriner's own calculations, the family will be out of money in six months if he doesn't find work.

Read on...http://online.wsj.com/article/SB125780714976639687.html

Free credit scores...really.

2009-11-02T20:30:00.004-06:00

By Shreyas Nanavati
Most sites that offer a “free credit report,” are not really free. Many require you to sign up to some monitoring program that starts off around $15/month.

Free credit monitoring
A do-it-yourself approach exists courtesy of the Fair Credit Reporting Act. This act requires each of the credit reporting firms (Equifax, Experian and TransUnion) to provide one free copy of your report, upon request, every 12 months. You can obtain your report, no strings attached, by visiting annualcreditreport.com. By Staggering your request every 3-4 months you can monitor your own credit report. I’ll talk more about this later.

Free credit score
Want to know your credit score? With annualcreditreport.com you’ll have to pay a fee, but there are now credible sites that will give you a credit score with no strings attached. I evaluated two of these sites: Quizzle and Credit.com.

Quizzle.com is an independent company founded by Quicken Loans. In less than five minutes I set up my account, answered a few questions and received a free Experian credit report and my Experian credit score. Quizzle also provides tailored advice on how to improve credit, home value, budget, mortgage or savings.

Some of these recommendations shed light as to how this site makes money, but none of these features obstruct access to your credit score and report. Overall, I like this site. I was under no obligation to take part in any of the services and I can request a new credit report and score (for free) every 182 days. This means I now have two more opportunities to monitor my credit report.

Credit.com is the second site I reviewed. This site does not give you an actual credit score. Rather, it provides a credit grade based on payment history, debt usage, credit age, account mix, and credit inquiries.

The grade is tied to credit score ranges so you’ll have a good idea of how you stack up. Credit.com is more up-front about the various pay and subscriber services they offer. You must enroll if you want to know your actual credit score or to receive a copy of your credit report. For my purpose, I found the credit range a viable alternative.

Why check your credit report?
A credit report includes information on where you live, how you pay your bills, whether you’ve been sued, arrested or have filed for bankruptcy. Make sure the information is accurate and up-to-date before you take out a loan, apply for insurance or a job.

Check for identity theft
I’ve given you five opportunities a year to check your credit report. Use these opportunities to check against identity theft. Identify theft occurs when someone uses your personal information (name, social security number or credit card) to commit fraud. For example, identity thieves may use your information to open a new credit card in your name. When they don’t pay the bills the delinquent account is reported on your credit report. Inaccurate information could affect your ability to get credit, insurance or even a job.

Report errors
If you find any errors in your credit report, contact the credit reporting agencies and the information provider (credit card, loan agency, etc) to advise them of what you think is inaccurate. They will investigate the matter and provide you with written results. Learn more about report errors by visiting annualcreditreport.com.

Where the (every day) chear air fares are

2009-09-18T11:08:00.014-05:00

Air Fares: A Short-Term Forecast

According to the Bureau of Transportation and Statistics (BTS) domestic U.S. air fares had the largest percent decline since 2002. With summer in our rear view mirror, the prospects of a slow economic recovery and a decrease in airline capacity many experts believe prices have stabilized. There are still great deals out there; you just have to know where to look. The following suggestions may improve your odds.

Destination Selection

* Trips to business markets, especially those dominated by one carrier (a fortress hub) generally cost more. A fortress hub is a large airport dominated by one carrier. American at Dallas-Ft. Worth, Continental at Houston Intercontinental and Delta at Cincinnati are examples. In these markets the dominant carrier provides non-stop service to points throughout the nation. This level of service allows the carrier to maintain pricing power.

* Pick a destination that is served my multiple carriers (ideally both major and low cost carriers).

* Carriers like Air Tran, Southwest, Frontier, JetBlue, Virgin America, Spirit and Allegiant have taken market share from major carriers by introducing lower fares. This doesn’t mean they always offer the lowest fare. To maintain market share, major carriers will price match. Austin, Las Vegas and Ft. Lauderdale are three examples of markets with a healthy mix of major and LCC competition.

* Select a destination with multiple airports. Below are the average itinerary fares for Houston, New York City, Los Angeles, San Francisco and the Washington D.C. area. As you can see, the fares vary greatly by airport. If you are flexible research fares to an alternative airport. Tip: add ground transportation costs (taxi, car rental, public transportation) to your airfare to compare the total cost of each option.

Source: Bureau of Transportation and Statistics

The Lowest Average Fares in America

Of the top 100 airports (by originating passengers) the most affordable destinations are Long Beach, Oakland, Burbank, Dallas (Love Field) and Las Vegas. Conversely, the most expensive airports are Huntsville, Cincinnati, Grand Rapids, Savannah and Des Moines. Below are the top 30 from both ends of the spectrum. It should not shock you that many of the expensive markets have fortress hubs or limited competition.

Source: Bureau of Transportation and Statistics

A Final Tip: The Best Time to Travel in 2009

The period between Thanksgiving and Christmas is a low period for air travel. During this time both business and leisure travel drop significantly. In an attempt to generate bookings airlines open their inventory to their lowest fares. But don’t buy your ticket too soon...we’re still in a recession after all! There is likelihood even lower/sale fares will emerge between 60 and 21 days to departure – especially in competitive markets. Of course, the only thing less rational than air fares are trying to predict them...buyer beware and happy trails!

Haggle Your Way To Savings Redux

2009-09-08T23:34:00.001-05:00

In July I wrote this column "Haggle Your Way To Savings." This month Kiplinger's published an article on Bartering by Laura Cohn presenting another tactic to get the things you need and want. Ms. Cohn notes that barter requests have jumped nearly 80% on sites like Craig's List. In addition, she offers tips you can use before venturing into the barter foray. You can read a full article here: http://www.kiplinger.com/magazine/archives/2009/08/lowdown-bartering.html

For Your Budget, Your Planet and Your Behind

2009-09-01T15:24:00.006-05:00

Improve personal hygiene, be environmentally friendly and save money.

Let's be honest, toilet paper is not a hygienic solution. Yet, we find novelty in the bidet.

The average American uses 60 sheets of toilet paper a day. Ladies, credit your men...we're bringing down the average! This amounts to over 37 billion rolls of toilet paper every year. If we assume a 24 pack of Charmin costs $10, we're talking about a $15 billion/year industry. The environmental costs are equally astonishing, according to sustainlane.com toilet paper production consumes 15 million trees and over 473 billion gallons of water annually.

What can you do?

I'm not advocating the elimination of toilet paper. I'm pro-T.P., but I'm also pro-hygiene and pro-environment. As a compliment to toilet paper and a means to limit its use consider these solutions.

A bathroom sprayer is easy to install, costs less than $50 and will pay back in just a few months. Home Depot sells this model.
For gadget geeks, a high tech bidet (if you've ever seen one, they're pretty cool) can run anywhere from a couple hundred dollars on up. Toto, a Japanese manufacturer, is just one firm launching a campaign to push awareness.

Go Green!

Auto Insurance Advice from Kiplinger's

2009-08-31T10:04:00.000-05:00

Kiplinger writer Jessica Anderson provides a good summary on 'What You Need to Know About Auto Insurance,' online and in their September 2009 issue.

A few highlights, paraphrased from the article:

The number of claims filed by other drivers, including how costly those claims are, has an impact on your premiums.
Cars that are inexpensive to repair are less expensive to insure.
If your car is worth less than ten times to cost of coverage, consider dropping collision and comprehensive. Note: lender may require collision.

You can read the full article at www.Kiplingers.com.

Want more auto insurance advice? Click insurance from my list of topics and you'll find tips to maximize the value of your plan while maintaining a BudgetFree lifestyle.

Access to Health Care: A Survey

2009-08-20T14:03:00.003-05:00

Your health and what it will cost you are critical safety needs. With that in mind, I recently read this article regarding patient wait times by Katie Connolly of Newsweek: Link.

According to the Commonwealth Fund, Americans wait longer to see primary-care physicians than patients in Great Britan, Germany, Australia, the Netherlands and New Zealand - all countries with public health systems. Nearly one quarter of Americans report waiting six or more days for an appointment with their doctor. Canada came in below the U.S. with a third of respondents waiting six or more days to see their physician. Note: Both the U.S. and Canada came in last for ability to make a same day appointment.

But...

When it comes to elected surgery, America came out on top. Only 8 percent of respondent had to wait more than four months while 62 percent waited less than a month. The worst was Britain where 41 percent had to wait four months or more.

The cause for this disparity is the shortage of primary care physicians in the States. The U.S. produces more specialists because they earn a lot more than primary care. Source: Newsweek.

Chime In: Without getting into a political discourse, what are your opinions of health care in your country?

Is Spending Patriotic?

2009-08-10T16:02:00.001-05:00

By Shreyas Nanavati

Individual savings rates in America have risen to 6%. Studies indicate the savings rate will reach 8%. All it took was a crash in the home and stock markets, high unemployment and fear of a slow, painful recovery to turn our debt-happy society into a nation of savers.

Not only are individuals and families cutting back, companies continue to trim expenses in hopes of strengthening their balance sheet. As long as the consumer and corporate sectors feed off each others' uncertainly we're in a a vicious cycle.

Advertisers have been trying to link spending with patriotism. It's true, for the economy to prosper, consumers and corporations need to pull out their wallets, but is it patriotic to spend?

Incentives Favor Saving

Key market forces are fueling our growth in savings. Credit is harder to come by. Home equity loans, once a cheap source of cash, are no longer a given option. In addition to deteriorating home prices, investment and retirement portfolios are no longer a source of security or riches. On top of that job loss, record government debt, a slow to materialize stimulus package and uncertainty about the future of social security have all nudged our spend-first culture to save more, manage debt and make rational spending decisions.

Balance In Due Time

As savings accumulate, economic uncertainty dissipates and the stock/home markets stabilize these patterns will tip in favor of spending. Until then, it’s not our obligation to support the economy by consuming things we do not need or can not afford (cars for clunkers enthusiasts, heed my warning). Do what is in your best interest, eventually balance will be restored and the nation will be stronger for it.

Restaurant.com Redux

2009-08-03T16:35:00.002-05:00

I've written about this site before, but the deep discounts are becoming more and more frequent and the restaurant selection more robust.

Restaurant.com is a great site if you are planning to go out to eat and looking to save a few bucks along the way. This site offers certificates to 11,000+ restaurants. Here's how it works. A $25 gift certificates are available for, say, $10 every day. A good deal if you use the certificate, no doubt. Better yet, promotion codes can push the cost down to $2. Hint: sign up for their emails and wait for the 50%, 60%, 70% or 80% discount offers to hit your inbox.

Free 411 and Q&A from Google & ChaCha.com

2009-08-01T14:37:00.001-05:00

Google offers a great service...and it's FREE! Store 1-800-466-4411 in your cell phone. When you need a business number, dial this number. You'll be prompted for the city, state, business name, etc and than you will be connected directly to the business you are trying to reach.

Have a question and you can't recall the answer. Try 1-800-2-ChaCha. You can also text them at 242242. Careful, under certain circumstances a service change may apply so do your diligence before using their service.

Note: Neither of these services sponsor this site, GivingGrinch.com or ThinkBox, LLC.

Prime Steak within Reach

2009-07-16T10:31:00.009-05:00

The WSJ notes that the best cuts of beef cuts are making their way into a supermarket near you: Link

Bon Appetit!

Haggle Your Way to Savings

2009-07-08T17:18:00.006-05:00

Haggling does not come naturally. Fortunately, I’ve had the pleasure of travelling to places where the first price is rarely the final price. Having seen this process at its finest, I’ve compiled a list of best practices to help you haggle your way to a better deal.

What is Negotiable
Haggling extends beyond garage sales, open air markets and your next car. You can haggle to improve your situation on a variety of items: phone, cable, gym membership and home improvement jobs come to mind. While there are many things we can haggle on, it’s important to temper expectations if a product or service is non-negotiable. This could be the case at national retail outlets, dining establishments, etc. A strategy in these situations is to ask if the seller offers specials or is planning to have a sale soon.

Start by Asking for a Better Deal
Competition, especially in highly competitive industries dominated by independent business owners, is fierce. Start the process by asking for a better price. Smart Money Magazine even suggests that medical costs are negotiable: http://www.smartmoney.com/spending/deals/how-to-cut-your-health-care-costs-14650/.

Do Your Diligence
It’s common for businesses to beat a competitor’s price. This is especially true in situations where many sellers offer the same or similar product. Craft markets or touristy places are classic examples. Walk around and get a feel for the going rate of an item before you haggle with a vendor.

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For tips on a wide-range of money matters, visit this GivingGrinch.com recommended site: www.moneyreallymatters.com
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Be Even Keeled & Not Afraid to Smile
Have fun with the haggling experience. The best hagglers I’ve seen have a price in mind and a strategy to achieve their objectives, but they also maintain a pleasant disposition. This allows them to be persistent without being unpleasant.

Grease the Wheel

• Offer to pay in cash
• Offer to purchase on the spot
• Offer to recommend shop/service to your friends and colleagues

Work the Variables
Often there are several variables inclusive or exclusive of the final price. If you are unable to reduce one area try to improve your situation in another. Earlier this year while on a trip we walked into a hotel without a reservation. After chatting with the front desk manager and determining that the hotel was only 70% occupied, we asked for a lower rate than was quoted. The manger was not willing to reduce the rate, but we were able to secure a larger room and a welcome basket with snacks and beverages at no extra cost.

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Business owners, hiring a virtual assistant can save time and money: www.integrityofficesolutions.com
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Be Willing to Walk Away
If you don’t get the price you require and are able to make due leave your information with the seller, ask them to contact you if they are willing to meet your terms.

Don’t Walk Away After You Agree on a Price
It is bad etiquette and a waste of time to negotiate in bad faith.

Reader Tips
Bartering or swapping goods is a bit like haggling and another way to save money. There are a bunch of websites that offer these services. Here are a few:

• HomeExchange.com
• Craigslist.com (barter section)
• MakeupAlley.com
• PaperBackSwap.com
• SwapThing.com
• TargetBarter.com
• TextSwap.com
• BarterBee.com

Submitted by Shefali in NYC

Share Your Haggling Tips:
Share your haggling tips and success stories with our readers. You can post a comment on our blog or send me an email: advice@givinggrinch.com.

Your Tax Refund

2009-05-06T15:49:00.032-05:00

BudgetFree Approach
by S. Nanavati

This year the Internal Revenue Service reports an average tax refund over $2,700. Use the principles of the BudgetFree for Life System to prioritize how to use your refund.

Survival Needs:

Food, Warmth, Water, Shelter…

Utilities: If you’re having trouble fulfilling critical survival needs (electric, water and heating, for example) your refund should be used to address these matters.

Mortgage: For those without debt and job insecurity consider lowering monthly housing payments. Refinancing isn’t for everyone – you need home equity, a high credit score to qualify for the lowest rates and $2,000 - 3,000 for closing costs. To figure out whether refinancing is right for you, try this online calculator: http://www.bankrate.com/.

Safety Needs

Are you protected against uncertainty or disaster (insurance, home security, etc)? Do you have an emergency fund? Is your job secure? Do you have the skills necessary to compete in the market place? Are meeting your long-term retirement objectives?

Emergency Fund: If your survival needs are met, building a cash fund should be a priority. My September 2008 Newsletter “Your Emergency Fund,” discusses the importance of maintaining a 6-month emergency cash fund.

Tip: Beyond security, a cash fund allows you to save money. Insurance deductibles are one example. According to the Insurance Information Institute raising your deductible from $200 to $500 can cut 15-30% off your premium. Increasing your deductible to $1000 can bring up to 40% in savings. If disaster strike, your emergency fund will cushion the blow of a higher deductable.

Credit Card Debt: Putting money in the bank when you are paying a higher interest on debt doesn't make financial sense. If your job situation is secure and you're carrying credit card debt use your refund to pay down high interest obligations. Start by addressing the cards with the highest interest.
Long Term/Retirement Investing: The correction in the stock market has created an investment opportunity for those with a long-term horizon. If your credit card debt is paid off, you have an emergency fund and don’t have a need for your refund money for the next 3-5 years put it towards your long-term/retirement goals.

Retirement versus College Fund: There are many ways to fund a college education (loans, scholarships, ROTC, work study, etc), but saving is the only way to fund your retirement. Make certain your retirement plan is on track before addressing a college fund.

Social Needs:

If you're on top of your debt, secure in your job and up-to-date with short/long-term financial planning focus some of your refund on personal aspirations – vacation, membership, whatever lifts your sense of belonging and acceptance.

Esteem Needs:

Invest in Yourself:
• Hire a career coach or personal trainer
• Attend classes that enhance knowledge and skills
• Attend a conference to network, increase knowledge and possibly find your next job

Tip: Adjust your withholding so next year’s refund isn’t so large. The IRS provides a withholding calculator so you can fine-tune your taxes to get more in every paycheck. Make sure to automatically transfer this extra money to a savings account so it’s put towards your goals, not your whims.

Guest Blogger: Money Smart

2009-04-16T21:20:00.011-05:00

This month’s guest writer is Vijai Anand. Vijai writes articles on becoming “money smart” for his website www.moneyreallymatters.com. Last year, when I started www.GivingGrinch.com, Viaji was the first person to interview me (link). This year he agreed to share his financial philosophy with my readers.

Money Smart by Vijai Anand (www.moneyreallymatters.com)

In recent months financial security has become a priority. Are you in control of your finances? Are you Money Smart?

What is Money Smart? Is it clipping coupons, being the first in line for a big sale, signing up for freebies or raffles or comparison shopping online? I don't see anything wrong with saving money, if fact a dollar saved is two earned. Need proof? Check out this article: (Link). Nonetheless, these activities do not make a person Money Smart.

Money Smart is about Making Extra, Spending Wisely, Saving Graciously and Managing Right.

Make Extra

I encourage everyone to profit beyond your job. There are many ways to make extra money. You can turn your passions or hobbies into an income stream. Visit a local farmers market for ideas. You’ll see people selling homemade soap, spice rubs, jewelry, craft work, etc. Another example is to write an eBook. Maybe you’re a musician. Put together a book of lessons and sell it online for a nominal amount (say $10). Even if only 10 people buy your book every month, it adds up to $1200/year in passive income! Bottom Line: Tap into your abilities and you will find a niche to making extra cash.

Spend Wise

As our needs grow so do our costs. We need a roof over our head, food, clothing, gas and so forth. Therefore, it’s important to prioritize how we spend our money. Always keep in mind the difference between a need and a want.

An example, if you don’t own a television, buying a new one for a reasonable price is spend-wise. If you already a have nice TV and buy a big screen set in time for Super Bowl, that’s a different story. This is not a need, but a want. Everyone has different income considerations, but the need versus want principle can be applied to purchases (and incomes) big or small.

Save Graciously

Savings are like antibodies. If you have enough you become resistant to bad diseases. Without ample savings you will struggle when there is an unplanned need for money. Remember, patience is virtue so put money away on periodic basis. If you have children, take a queue from them. You don't have to open a bank account. Use a piggy bank and every day toss in your spare change. Some people have a five dollar rule, every time they receive a five dollar bill, they put it to savings. You’ll be surprised how quick it can grow to hundreds of dollars. If you’re a “spend first, save later” type set up an automatic savings plan with your bank to ensure you only spend what remains.

Manage Right

It’s your money - you earned it - you should have some control of it. Don’t let others make decisions for you. You can take the advice and guidance, but you need to know enough to be able to manage your money the way you see fit.

For example, if you plan to buy a home or save for a child’s education you can talk to an expert, do research on the internet or discuss with peers. The point is to collect information so that you can make an educated decision on how to channel your money to meet your goals.

Money Smart

By now you’ve probably realized that becoming Money Smart is not a bunch of tricks and tips. Money Smart is about changing your thought process and taking actions to make a positive, long-term difference in your life. You can start out slowly, but be consistent.

1. Think about ways you can make extra, spend wise, save graciously and manage right.
2. Learn good money management tips and techniques from various resources (Internet, community groups, expert advice, etc).
3. Read books and magazines that focus on money management, savings ideas, etc. I recommend a few books on my site, www.moneyreallymatters.com.
4. Attend free seminars or workshops arranged by libraries, banks and financial institutions, but filter out the marketing (sales) pitch and scare tactics; take only the information you need. Remember, if a pitch sounds too good to be true, it probably is.
5. Steadily change your habits and implement the ideas and strategies you’re learning.
6. Teach your kids about money to cultivate a culture of saving.

As Lau Tuz said, “A journey of thousand miles always starts with a single step.” When you put it all together, being Money Smart is about personal financial literacy – the first step to financial security.

About the Author

Vijai Anand is a senior web developer by profession and the owner of a web design shop www.igurus.net. By passion he is a husband, father, self made investor, money mentor (pursuing his CFP) and entrepreneur. He writes freelance and for his website www.moneyreallymatters.com.

BudgetFree Investing

2009-04-08T20:02:00.028-05:00

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GivingGrinch.com
BudgetFree for Life!
Editor: Shreyas Nanavati
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Blog: http://www.givinggrinch.blogspot.com/
Website: http://www.givinggrinch.com/
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BudgetFree Investing

Having short-term financial security and a long-term savings are crucial SAFETY needs. Whether you invest individually or work with a professional it is important to understand how your money is invested and the risks involved.

Know Your Goals
Planning for retirement is an on-going process. You must know how much income you’ll need to live comfortably, provide adequate health care and ensure financial security for dependents. Online sites like http://www.schwab.com/ and http://www.bankrate.com/ provide tools to help you with this process.

Know What It Takes
North Americans are notorious for living beyond their means. Saving rates are very low and in decline.

Because of this, an above average return on our investments is a requisite to meet retirement goals. To get higher returns, one must take higher risks. A simple example:

Assumptions
Work Life: 40 years
Historical Inflation: 3%
Historical 5-Year CD Rates (lower risk): 5%
Historical Stock Market Returns (higher risk): 8%
Calculator: http://www.bankrate.com/calculators/savings/saving-million-dollars.aspx

Saving $275/month for 40 years (8% market return) will result in a million dollars. Saving $675/month for 40 years (5% CD return) will also result in a million dollars. The difference goes beyond risk and $400/month. Historical information does not account for market timing or inflation fluctuation. In the past 20 years the average stock market return, adjusted for inflation, has been 8%. Over the past 10 years, that number falls to 1%. Since January 1, 2000 the number falls to -4%. Meanwhile inflation rates in the past 20 years have fluctuated between 1% and 6.3%. Higher inflation impacts real income invested in less risky vehicles (CDs, Money Market, Treasuries, etc). Source: http://www.moneychimp.com/features/market_cagr.htm

Bottom Line: Market volatility has hampered the retirement plans of millions – especially the average investor who takes greater risk to make up for lack of savings. I’m not advising you how to invest, but I am pointing out the importance of saving so you are not completely dependent on the market to make up the difference.

Know Your Investments
Underfunding your retirement is unsettling. Not understanding what is in your portfolio is downright scary – especially when the market takes a turn for the worse. Before making an investment decision make sure you understand the investment, its upside and downside. Three suggestions:

1. Beware of False Promises: There is no such thing as a no risk investment or a get rich fast scheme (the only person getting rich is the one selling the scheme). Do not agree to anything on the spot or act on testimonials from strangers.

2. Don't Gamble With Money You Can't Afford To Lose: The less you can afford to lose, the more conservative you should be in your choice of investments. A young person with a long-term horizon can absorb more risk because they have the benefit of time. If you’re close to retirement a volatile portfolio can wreak havoc on your golden years. Tip: If you are meeting your investment goals and want to invest for fun set up a separate account that is isolated from your essential savings.

3. Diversify: Don’t put all your money in one stock, bond, fund family, sector, commodity, industry or region of the world.

Self-Help
Even if you choose to work with an investment advisor it is important to understand a wide-range of investment topics. My recommendation is to subscribe (or read at the library) one or more of the following every month: Kiplinger’s, Money Magazine or Smart Money. These magazines cater to a general audience. If you are new to investing, don’t get frustrated if topics seem foreign. Over time you will gain familiarity.

Know Your Advisor’s Place
If you choose to work with an investment professional, remember you are buying their service and they must work for you and your interests. Interview several before settling on one. Although I personally do not work with an investment professional, I would recommend a fee-based advisor rather than one who makes money on commission (annuities, mutual funds and frequent trading generate a lot of commission for a broker).

Secure Your Short Term
Make sure your current financial needs are addressed. For advice on an Emergency Fund, see my September 2008 Newsletter: http://givinggrinch.blogspot.com/2008_09_01_archive.html

BudgetFree for Life Consulting
Tailored for individuals, couples or families, this package comes with all the training, tools, techniques and support you’ll need to live BudgetFree for Life. It’s an affordable way to bring fiscal and personal balance to your life. To learn more, check out my 60 second presentation:

Reader Tips

Survival: Explore the Bulk Section and Eat Healthy for Less

The food industry makes it easy for us to eat processed foods, but they good for us or the environment. With food prices rising and incomes shrinking it’s time to make grains and beans the centerpiece of our diets.

Begin your day with whole grain cereals topped with nuts and dried fruit. For lunch combine whole grains with beans, veggies and a sauce or dressing. For dinner casseroles, pilafs and stir fries. Need a quick snack? Try Bulgar, couscous, instant black beans or re-fried beans with veggies. Submitted by Susan B. in Hancock, Michigan

Social: Road Trip Clip

I clip coupons from restaurant chains and keep them in the car to use on road trips.

A Nation of Value Shoppers

2009-03-06T22:57:00.014-06:00

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GivingGrinch.com
BudgeFree for Life!
Editor: Shreyas Nanavati
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Blog: http://www.givinggrinch.blogspot.com/
Website: http://www.givinggrinch.com/
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March 2009: A Nation of Value Shoppers

Everyone is talking about cutting costs. It’s en vogue in daily media discussions. What encourages me is how this topic is being approached. We’re willing to spend, but demand more for our money. We still travel, dine out, go to the theatre, etc. Extravagance is in a downward spiral, but if the price is right our wallets will open. One example is travel. A family trip is no longer considered a luxury; it’s an annual activity. This year travelers want to know exactly what they are paying for in advance and are opting for all-inclusive or packaged vacations over a la carte. Meanwhile, hotels and airlines offer deep discounts to lure you their way. It’s not surprising that corporate travel is down this year, but leisure is not. To the chagrin of hoteliers, trips planned around stays with friends or family is also on the rise. If your family vacation is on the fence, download the Master List from either http://www.givinggrinch.com/ or http://www.givinggrinch.blogspot.com/ for more value-oriented travel suggestions.

BudgetFree for Life Consulting (2.0)

Based on feedback from my clients, I’m putting the finishing touches on my BudgetFree for Life Consultation Service. Tailored for individuals, couples or families, this package comes with all the training, tools, techniques and support you’ll need to live BudgetFree for Life. It’s an affordable way to bring fiscal and personal balance to your life. To learn more, check out my 60 second presentation:

GivingGrinch: Budget Consultation Service

View more presentations from Shreyas Nanavati.

BudgetFree for Life Tip: Annualize to Minimize Habit Spending

If you want to understand the magnitude of habit shopping think annually. For example, a $2 cup of coffee may seem like chump change, but repeating this habit daily costs $730/year. Take stock of your habits and determine if they are getting in the way of more important needs like health care, an emergency cash fund, eliminating credit card debt or even saving for a vacation. The solution isn’t necessarily to stop the habit. Rather, it’s to understand how it brings value to your life so you can find ways to fulfill the need in conjunction with meeting the needs of other areas. For instance with coffee, here are three suggestions: cut back on the frequency, brew at home or bring your favorite blend and brew at work. Habit shoppers must also beware of check-out lines. Annualize all the magazines, candy, gum and other small dollar items you reach for than ask yourself, how exactly is this adding value to my life? Here are a few examples clients and readers have shared:

Safety Needs:

It’s only a $45 parking ticket; unfortunately I seem to get one monthly by forgetting to feed the meter. Annually, that’s $540 I could have put towards replacing my worn out tires! – P. Johnson, Reader

Social Needs:

Once a week I go out with friends from work. I always order Grey Goose vodka. After a couple drinks, my tab with tip is around $30. I really didn’t care what I drink; Grey Goose just rolls off my tongue. I still go out, but ordering happy hour specials cut my bar tab in half. Annual Savings $750. – S. Hanson, Reader
The only reason I still have HBO, Showtime, Star and Cinemax is because I didn’t cancel after the free trial expired. It costs me an additional $40/month and I rarely watch those channels. I also have NetFlix. I kept NetFlix and cancelled the pay channels. Annual Savings $480. – J. Hayes, Client

Coupons Hot, Clipping Not
Coupons can save a lot of money, but not everyone likes to clip. In the future we may not have to. There are now services that link coupons to loyalty cards or to personal PDA/cell phones eliminating paper clippings at checkout. The Wall Street Journal recently discussed this trend. http://online.wsj.com/article/SB123551425475363603.html?mod=most_emailed_day.

A few sites to get you started:
Shortcuts.com is linked to the Kroger loyalty card
Smartsource.com is linked to Giant Eagle
CellFire.com has partnerships include Kroger and Hollywood Video and sends coupons to data network-enabled cell phones
Coupons.com will soon launch electronic coupons linked to a number of chain store loyalty cards as well as a cell-phone based application

Before you jump on this bandwagon, I would like to remind you of advice I offered in the Houston Chronicle last year (http://givinggrinch.blogspot.com/2008/10/welcome-houston-chronicle-readers.html).

“Coupons are marketing messages. If you know what you are shopping for and you find a coupon to match that, then you worked the system, but if you get something unplanned because you had a coupon, the system worked you.”

Another tip, a coupon does not guarantee you the best deal. Always scan the aisle for alternative.

Gifts for all Seasons and Reasons

2009-02-08T13:20:00.031-06:00

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Blog: http://givinggrinch.blogspot.com/
Website: http://www.givinggrinch.com/
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Gifts for all Seasons or Reasons

Gift giving, in this country, is a social norm and therefore a social need in our hierarchy. We’ve all received gifts for which we have little or no use. Unknowingly, we may have given gifts like this as well. For many of us gifting can be time consuming and expensive. With the holidays behind us, now is the perfect time to get this year’s gifting in order – GivingGrinch style.

Imagine always having the perfect gift – something personal that anyone would appreciate – on hand. I have three gift ideas you can make today, but first the criteria I came up with:

1. Something personal (preferably homemade)
2. Something anyone can use
3. Ability to make and store in bulk
4. Economical to make, but not something others will find cheap
5. Long shelf life

Spices and Rubs
There are tons of spice and rub recipes available on the web. One you can buy at the store is Emeril’s Essence. Instead, make your own and “spice it up” as a gift. Mr. Lagasse provides this recipe on his website, http://www.emerils.com/. Adjust the ratios to make in bulk.

• 5 tablespoons sweet paprika
• 1/4 cup salt
• 1/4 cup garlic powder
• 2 tablespoons freshly ground black pepper
• 2 tablespoons onion powder
• 2 tablespoons cayenne
• 2 tablespoons dried oregano
• 2 tablespoons dried thyme

Spice/Rub Shelf life: Dried leafy herb mixes will last 1-3 years, ground or powdered herbs retain freshness up to a year.

Homemade Herb Infused Olive Oil (for drizzling or dipping)

1. Choose your herbs. Popular choices are rosemary, basil, mint, tarragon, thyme or marjoram. Another option, whole garlic.
2. Wash and thoroughly dry the herbs. Slightly tear or bruise the herbs so that they release their aroma and flavors.
3. Heat olive oil over a low flame until warm (not hot). Use a pot or pan with a wide base, like a sauce pan, to evenly warm the oil.
4. Stuff herbs into bottles. A little goes a long way.
5. Pour oil into bottles.
6. Let the bottles sit for a while until cool.
7. Place cork or rubber top on bottle and set in a cool dark place for about a week. If you use garlic, refrigerate the oil to avoid botulism.
8. Strain out herbs or garlic and you’re ready to consume or gift.

Storage: Cool, dark place

Homemade Jam

My family picks berries every year to make jam. I asked my Mom to send me a starter recipe. Here is her No Cook Strawberry Freezer Jam Recipe:

1. Measure 1 1/2 cups sugar into bowl.
2. Add contents of one Ball Company Fruit Jell Freezer Jam Pectin pouch (available at large grocery stores)
3. Stir until mixed
4. Crush fruits, 4 cups (crushed) and add to pectin mixture.
5. Stir 3 minutes
6. Ladle jam into clean jars leaving half inch headspace; apply lids.
7. Let stand until thickened (about 30 min.)

Yield: Five 8 ounce jars. Refrigerate up to 3 weeks or freeze for longer storage - up to one year.

So there you have it - gifts with personality and utility without tasking your mind or breaking your bank.

Reader Tip: Fill a brand name prescription medication for free. Even with insurance, brand name drugs are expensive. In order to get people to try their medicine, pharmaceutical companies often offer a free or discounted trial. The best place to check is their website. For example, Vesicare has a free 30-day prescription form you can print out. If you prefer, they can mail you the form.

Manage Your Time & Take Back Your Life

2009-01-22T19:45:00.014-06:00

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www.GivingGrinch.com
BudgetFree for Life!
January 2009 Mid-Month Newsletter
Editor: Shreyas Nanavati
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Website: http://givinggrinch.com/
Blog: http://givinggrinch.blogspot.com/
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Earlier this month I mentioned the addition of guest writers to share their particular expertise, with an emphasis on either money advice or a balanced life. My first featured writer focuses on the latter. I hope her tips will improve your daily life. Regards, Shreyas Nanavati

Manage Your Time & Take Back Your Life by Jackie Nees, Integrity Office Solutions

These days we are more overworked, stressed out and unhealthy than ever before. We’re so busy all the time and yet the “to do” list never seems to end. Why is this? Well one reason is because we have become accustomed to over-scheduling ourselves because we are trying to be everything to everybody. Another reason is because we are managing our time ineffectively. We are falsely lured into thinking that having the latest gadgets, tools and systems will keep us organized and things running smoothly.

Now don’t get me wrong, I love gadgets as much as the next person, but as great as they are they can be a distraction from accomplishing the actual work at hand. We feel obligated to constantly check our email, respond to text messages and grab every phone call that comes in. These activities sure do keep us busy but what do we accomplish at the end of the day? Not a whole lot. The following are some time zappers that may be keeping you from managing your time:

Checking or writing emails
Instant Messaging
Texting
Social Networking (i.e. Facebook, Twitter, LinkedIn)
Organizing your desk
Trying to find files on your computer

All of these things, though you may feel productive while doing them, don’t always benefit your bottom line. Here are some suggestions to help manage these activities so you can maximize your productivity and your free time.

Check Email Twice a Day
I know it’s a scary concept but it can be done. Most of the email that comes through your inbox is not so crucial that it can’t wait a few hours. Decide which times each day you will check and respond to email and stick to it. Create an auto responder in your email program that says something like, “Hello and thank you for contacting me. In an effort to increase my productivity during the day I have decided to check my email only twice per day at 10 a.m. and 4 p.m. If this is an urgent message, please call my cell number at (555-5555) otherwise I will respond to your message as soon as possible.”

Stealth Yourself
If you’re a Yahoo Messenger fan like I am you know they have this really great feature called “Stealth Settings”. If you must have your messenger program running throughout the day because you need to stay in contact with a client, customer or other important contact then you can make yourself visible to that person only and appear “offline” to everyone else. This is a great way to eliminate unwanted interruptions from well meaning friends.

An Hour a Day for Social Networking
Social networking has become one of the fastest growing, most effective ways to make valuable personal and business connections. I highly recommend social networking to everyone and use it myself every day to grow my business. However, this type of networking can be very time consuming. Between setting up profiles, interacting with users and updating your status, you can see how this can take a huge amount of time out of your day. My recommendation is to limit your social networking to an hour a day by following these simple tips:

Limit your networks to 3-4 high quality sites that you know and trust.
Rather than updating your status on each individual network, use an application like ping.fm to update multiple networks at once.
Respond only to direct messages or replies that involve you or that interest you.
Don’t feel the need to read the updates of all of your contacts if you’re short on time.
Choose quality over quantity when following others.
Be selective about who you follow and who follows you.
Follow people you know, trust or who come recommended by other people. This will help to maintain the quality of what you are reading and responding to.

If you are an avid Twitter user like I am, manage your tweets easily with TweetDeck which allows you to group all of the tweets in your network by direct message, @replies and all tweets. You can even create groups to read tweets from your favorite people (or Tweeple).

Organize Your Workspace
Having trouble finding things on your desk or on your computer? You can reclaim your work space by following a few steps:

Designate a day once per week to organize your workspace and file paperwork.
Create a desktop filing system consisting of an Inbox, Outbox, To Read and To File slots. Whenever something comes across your desk, put it in the appropriate slot to make sure it is handled properly.
Keep one project at a time on your desk to avoid having to look for files or important information.
Color-code your files according to project or client so they are easily located and easily returned to their appropriate spot.
Create folders for your computer and keep important files on a flash drive. This serves two purposes: 1. Your files are backed up in case your computer crashes 2. You always have them with you if you need to work out of the office.

Play Beat the Clock
One of the most effective and inexpensive ways I have found to stay on track during the day is using a kitchen timer. I got this idea from a coaching friend of mine who recommends it to her clients. When you have a project to work on or any task for that matter, set a timer for how long you’re planning on working on it. When the buzzer rings, time’s up! This trick is fun and it helps keep you focused.

Delegate
If you are constantly wishing that you had more hours in the day to get things done, why not consider delegating? Business owners should use a Virtual Assistant (or VA) to handle the administrative, marketing or technical tasks you don’t have time for or simply don’t want to do. Virtual assistants are a growing trend in the small business world and are extremely cost effective since you only pay for the work assigned. There is no need to worry about additional costs such as salary, benefits, purchasing equipment or payroll taxes. Most virtual assistants work on an hourly or retainer basis and many are specialized in specific areas. By delegating tasks to a VA you are allowing more time in your day to work on other projects or do things you enjoy.

Learning to manage your time is a process but by doing so, you will not only have reduced stress, increased energy and more free time but you’ll also feel more in control of your work, your activities and your life.

About the Author:
Jackie Nees is a virtual assistant, freelance writer and blogger. She specializes in working with women entrepreneurs and “helping women who want it all, have it all”. Subscribe to Jackie's monthly eZine "Integrity Insights" by visiting http://www.integrityofficesolutions.com/. Her latest report “The Modern Girl’s Guide to Marketing Your Business Online” is available free when you subscribe.

Grocery Tips and Organics

2009-01-11T13:29:00.022-06:00

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www.GivingGrinch.com
BudgeFree for Life!
Editor: Shreyas Nanavati
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Website: http://givinggrinch.com/
Blog: http://givinggrinch.blogspot.com/
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Setting the stage for 2009

In December I attended a personal finance seminar; the speaker mentioned that 80% of our money decisions were emotional in nature. Eighty percent can be debated, but the point is valid. A lot of our money is spent to fulfill an emotion. On occasion it’s OK. There’s a saying - you can take all the good ingredients off of a pizza and it’s still a pizza, but nobody will want to eat it. The same can be said for living a balanced life. BUT, if money is spent chasing short-term emotional fixes this pattern will repeat over and over. Bottom line: money used to replace or distract us from attaining important, sustainable needs is unfulfilling and expensive.

You don’t have to clip coupons, crunch numbers, live on ramen noodles or learn how to use a spreadsheet to get control of your money matters. You just have to understand what is necessary to live a balanced life and how you’re meeting those needs in the short and long-term. There are many approaches, but I’m biased, I believe in the BudgetFree for Life system. Learn more by visiting my website: http://www.givinggrinch.com/.

Get More in 2009

This year guest writers will share their unique perspectives and insights. Some will touch on budget advice; others will share insights on living a more balanced life. If you would like to guest write, drop me a note with your idea and expertise: contact@givinggrinch.com. I would love to work with you.

Grocery Tips, but first Organics

The drop in oil prices has brought price relief for many of our survival and safety needs - food and gas, for example. Unfortunately, the economic outlook is tenuous and personal consumption has contracted. This does not mean you should cut corners on quality foods. Check out the tips at the end of this article to get more for less the next time you’re at the grocery store. If you have any suggestions on this subject, send them my way.

A few thoughts on how to get more bang for your buck when shopping for organic foods. Organic foods are grown without the use of pesticides, hormones, chemical additives or antibiotics. Unfortunately, the cost for these products is prohibitive for many.

Fruits and Vegetables

According to Greenopolis.com, fruits are in constant threat from pests and therefore subject to more pesticides. A rule of thumb - thick, inedible skin will protect the fruit from pesticide build up. Examples include avocados, bananas, pineapples, kiwi, mangos and papayas. In addition, vegetables such as onions, broccoli, asparagus, frozen peas, frozen corn and cabbage, are less susceptible to pests and therefore require less pesticide.

Conversely, fruits and vegetables with thin or edible skins will take in pesticide residue that will not wash off. Some of the worst offenders: apples, celery, strawberries, lettuce, pears, spinach, potatoes and carrots. FoodNews.org provides a reference guide rating 43 fruits and vegetables on their pesticide load.

Meats & Dairy

The DailyGreen.com states that meats typically contain less pesticide than plant-based foods, but non-organic meats still come from animals nourished with hormones to speed growth, antibiotics to resist disease and pesticides in their feed. The same can be said about milk, although residue detection is rare and of low concentration, concerns arise because this product is a staple of a child’s diet.

Grow your Organics

Growing your own greens is convenient, cost efficient and environmentally friendly. A simple 4 foot square box will produce one meal’s worth of vegetables for one adult per day. A Rutgers University nutritionist noted that gardeners – especially children – became so enthusiastic about growing their own food that they eat more vegetables and less junk food. For more information on how you can start your own square-foot garden visit squarefootgardening.com.

Grocery Shopping Tips & Tricks

Stick to a prepared shopping list to avoid impulse purchases
Size Matters: In order to avoid raising prices, many of the products are now being packaged in smaller containers.
Grocery shopping while hungry leads to the unnecessary purchase of junk foods that provide a quick fix.
Cut down on more costly convenience items like pre-cut fruits and pre-mixed salads.
Avoid fresh vegetable spoilage by buying frozen alternatives when applicable.
Eat more greens and beans, cutting back on expensive meat products.
Avoid convenience stores, they usually charge higher prices for less quantity than discount grocers.
Grocery stores carry on average 45,000 items. In order to improve their bottom line, they rarely raise the price on top selling items (people would notice), rather, they raise rates on specialty products or non-food items.
Try store brand products, but check prices…sometimes to name brands cost less.
Use store discount cards, but still comparison shop, discount card promotions are not always the better value.
Grow your own vegetables helping feed both a physiological need and, quite possibly, a social or esteem need.
Purchase non-perishable items in bulk (or when on special). Suggested by Clarence in NYC!

Thank you for reading this month’s letter. I wish you a BudgetFree Life in 2009.

The Gift of Time

2008-12-04T21:14:00.008-06:00

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www.GivingGrinch.com
BudgeFree for Life!
Editor: Shreyas Nanavati
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Visit the GivingGrinch Website: http://givinggrinch.com/
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This Thanksgiving my family came to town. We cooked, ate, played board games and drank lots of wine. Over the weekend I made a few observations and came to a conclusion that we don’t need to break our budget to celebrate the holidays.

The first observation was my dog’s tail wagging like crazy simply because there were more friendly faces in the house. Second, I noticed a friend’s young child vying for attention (in the cutest way) with her younger sibling. Finally, I was reminded by an elder that when it comes to family and friends it’s not what you show, it’s what you share that matters.

My conclusion – and I’m not saying you shouldn’t shop for gifts – we can all learn from the basic needs of our pets, kids and parents. What people really want is for those we care about to budget more TIME for us this year.

I’m sure by now you’ve heard about the Wal-Mart employee killed when a mob of shoppers – camped out overnight – broke down the doors and trampled him to death to get dibs on whatever items they valued more than a Thursday night and Friday with loved ones. A new electronic will become outdated in a year and clothes are destined to collect dust in a closet. Dear readers, it’s the season for family and friends, not Macy’s and Nordstrom’s. Two suggestions for a stress free/BudgetFree holiday from Niki in Houston:

Organize a white elephant party instead of buying a gift for every single person on your annual list. This saves quite a bit of money since you purchase one nice gift instead of several moderately priced gifts. On an emotional level, this eliminates the anxiety of shopping for the perfect gift for each person.

For family and friends separated by distance consider a secret Santa holiday. Have one person put the names in a hat and select the individual you will shop for this year.

A few more tips to spread cheer where it is most needed this holiday season:

Gifts of Time:

Offer to babysit – sitters don’t come cheap anymore and the savings are often more then what you would have spent on a gift. Plus, you get to spend some time with their kids

Make your own gift – baked goods, crafts – provides a personal touch and are fun to make and share

Help with a large or labor intensive project

Invite friends over to a pot luck instead of going out

Offer to teach a valued skill

Organize a group or community outing. One idea, volunteer as a family or community at a local shelter

Gifting:

If you have friends in common, go in on a gift together; usually you can give a nicer gift for less by splitting the cost. Suggested by Saheli in San Francisco

Reuse gift bags. Suggested by Kristin in Michigan

Gifts that WILL go forgotten:

Don’t buy gifts for your pets. Give them (safe) old toys
Don’t buy gift for babies

Happy Holidays!

Shopping Tips & Selling Tactics

2008-11-02T22:22:00.027-06:00

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www.GivingGrinch.com
BudgeFree for Life!
Editor: Shreyas Nanavati

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Website: http://www.givinggrinch.com/
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Shopping Tips and Seller Tactics

It comes as no surprise that the economy is on everyone’s mind. If you’ve been reading this newsletter, I’ve written about how you can improve your personal outlook without any negative impact on your lifestyle. In May we discussed water consumption. July and August focused on gas and electricity, respectably. I’ve also discussed tactics to build an emergency fund (September). You can find these articles, and June’s Travel Tips, on our Blog. You can download Word and PDF versions via the website.

A promise may lead you into a marketer's trap

Ever wonder why hot holiday items are never in stock? The answer isn’t just demand - manufacturers suppress supply. They do this to capitalize on a promise. Faced with a barrage of “please can I have this, please, please, please,” we often promise (out loud or to themselves) to buy a certain gift for Christmas. What happens if this item is out of stock? You still have to buy a present so you get something else. BUT, the last thing you want to do is break a promise. After the holidays you will most likely buy the item you promised. This happens over and over again. Remember the Cabbage Patch dolls craze? A solution to avoid this trap – pick up the hot items before the shopping season. You can always return it if you find it for a better price.

Online Comparison Shopping: Three easy steps to a great price

There are thousands of sites on the web to help you comparison shop. To find the best deal, I recommend this three step process:

Step 1: Comparison shop across hundreds of sites at once at Shopping.com and settle on a few stores offering a great price. Don’t forget to add shipping and tax.

Step 2: Search for an online coupon to further reduce your cost. My favorite site is RetailMeNot.com. Type in the URL of an online store you and this site will display recent coupons.

Step 3: Check for a last minute deal on Dealsea.com or Dealigg.com. A word of warning, if you’re an impulse shopper these two sites are not for you.

Say NO to Extended Warranties: Your credit card may already provide one

Check your credit card benefits to see if it provides purchase protection. Features on my American Express include protection against accidental damage or theft for up to 90 days from the date of purchase and a one-year extension on the original manufacturer's warranty. These benefits will save you money. Two personal examples:

My iPod died outside of the manufacturer’s warranty period. Since it was within American Express’ extended period, they credited me my purchase price ($179).

Days after I purchased a floor rug, my dog tore up a corner. I called American Express and they credited the full ($400) purchase price. I still use the rug, though torn in one corner it’s barely noticeable.

I don't abuse this benefit; I've had my AMEX since college, but have only filed claims on four occasions.

GivingGrinch.com: In the Press

Houston Chronicle: Click
Great Day Houston (TV): Click

Welcome Great Day Houston Viewers!

2008-10-26T19:40:00.038-05:00

That was a fast three minutes! It was an thrill to be on this show, everyone was very friendly. I'm so passionate about this topic I wish I had more time to share.

Newsletter: Free newsletter subscription CLICK.

Upcoming Class Information:

BudgetFree Boot Camp: CLICK
BugetFree for Life (through Leisure Learning): CLICK
One-on-one, small group or corporate consultation: contact@givinggrinch.com

Media & Speaking Requests: contact@givinggrinch.com

GivingGrinch in the Press: Houston Chronicle

2008-10-18T20:29:00.017-05:00

The Houston Chronicle ran an article by Jemimah Noonoo titled, "More people clipping, saving with coupons." The author was kind enough to ask for my thoughts. Here is a link to the article:

http://www.chron.com/disp/story.mpl/life/main/6067104.html

Subscribe to newsletter, click here.

When Nature Attacks

2008-10-01T20:48:00.021-05:00

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www.GivingGrinch.com
BudgeFree for Life!
Editor: Shreyas Nanavati
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Visit the GivingGrinch Website: http://www.givinggrinch.com/
Subscribe to newsletter, click here.
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When Nature Attacks

We pride ourselves on providing sound budget advice for a balanced life, but this month lets deviate from tradition and focus on emergency survival needs for a balanced life.

As I write this, Hurricane Ike is about 40 miles away from my house. In case the outside world impacts my indoor life, I’ve stocked my home with essential supplies to meet my basic physiological and safety needs over the next 72-hours. I want to share with you my survival list.

Home Emergencies

Water & Food:
Store one gallon of water per person per day – for up to three days and keep an ample supply of ice on hand. You can never have enough water. Before the hurricane, I stored extra water in food storage containers.
For food, think non-perishable, non-salty items that do not require preparation or refrigeration. A few examples: ready-to-eat canned beans, fruits and vegetables. You should also stock dry cereals, bread and high energy foods and drinks. For babies, have enough infant formula. And, for pets, food and water for a week (pet food maybe hard to come by). Have disposable plates, cups and utensils on hand in case your water is turned off.

Communication:
Access to outside information is critical – especially if you lose electricity. Keep a battery-powered or hand crank radio on hand, a whistle to signal for help, flashlights and fresh batteries. Store matches in a water-proof container, but don’t light candles in the middle of a storm. If a window breaks the wind may knock over a candle.

First Aid:
Every home should have a first aid kit. You can assemble our own or by ready-made. A first aid kid should include sterile dressings, cleansing agent, antibiotic wipes to disinfect, antibiotic ointment, burn ointment, various size band-aids, eye wash and non-prescription drugs such as aspirin and anti-diarrhea medicine. Keep a supply of your prescription medications in the kit as well.

Hygiene:
Hygiene is paramount. For maintaining proper sanitation stock up on moist napkins, tissue, toilet paper, diapers, pet waste bags, feminine supplies and other personal hygiene items. Clean clothing may be a concern so store a complete change of clothing including long pants and durable shoes in a water-proof bag. A sleeping bag or warm blanket for each person might come in handy. In addition, have several heavy duty trash bags at your disposal – you may need them for waste or as water-proof waders in case of flooding. Finally, fill your bathtub with water. With a bucket, you will be able to flush your toilet with this water if your system is turned off.

Documents & Currency:
Cash is king, have enough to last several days. ATM machines will not work during power outages and businesses may not take credit cards. Put your important family documents including insurance policies, identification and bank account records in a safe place.

Miscellaneous: Duct tape, Scissors, Fire Extinguisher…am I missing anything? Add your comments to the end of this month’s blog post.

Auto Emergencies

Car incidents can occur just about any time - a flat tire, dead battery, engine problem, lack of gas or an accident. Basic car care knowledge is essential – even if you have AAA, you should know how to change a tire or jump your battery. If you don’t, watch these videos:

How to Change a Tire: http://www.youtube.com/watch?v=WPqs3ZykE3A

How to jump a car: http://www.youtube.com/watch?v=cB3SnrgsycA

Here is a list of important items to keep in your car in case of emergency.

For Automotive Emergencies
• Jumper Cables
• Two quarts of oil
• Screwdrivers (Phillips and flat head)
• Adjustable wrench
• Tire inflator (such as a Fix-A-Flat)
• Tire pressure gauge
• Rags
• Pocketknife
• For Winter Driving: Gallon of antifreeze, Ice scraper

For Personal Emergencies while driving:
• First aid kit (see above, in addition you may want to pack ice and heat compresses)
• Blanket
• Granola or energy bars
• Bottled water
• Flashlight and extra batteries

In Conclusion

As I wrap up this newsletter, I’m happy to say there was minimal damage to my property. Thousands of others in the Houston and Galveston area were not as fortunate.

In home and auto emergencies, you can only prepare for what you have control over. Keep this newsletter handy and stock up on the items listed and you will improve the odds to meeting your core physiological and safety needs through natural disasters or road hazards.

Your Emergency Fund

2008-09-01T21:48:00.008-05:00

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http://www.givinggrinch.com/
BudgeFree for Life!
Volume 1, Issue 5
Editor: Shreyas Nanavati
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Visit the GivingGrinch Website: http://www.givinggrinch.com/
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September 2008: Your Emergency Fund

Six months cash is an essential safety need. Not only does it bring short-term security in times of uncertainty, it’s also a hedge that allows you to lower costs associated with other safety needs.
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GivingGrinch.com interview: I had the pleasure of being interviewed by moneyreallymatters.com. Read the interview and visit the blog: http://www.moneyreallymatters.com//
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Experts tout the need to have a fund to cover living expenses in case of emergency, but how much is enough? In this newsletter we’re going to answer three points:

1. Why six months cash is ideal
2. How to determine the amount you need
3. Some tactics you can use to trim three costly safety needs without negatively impacting your lifestyle

Why Six Months
This logic is based on the average duration of unemployment. Presently the average length of unemployment is 18 weeks – just over four months. This period can vary based on factors including where you live, your qualifications and willingness to relocate. Having six months cash gives you the flexibility and security necessary to make sound decisions during times of distress without having to tap other sources of credit, savings or assets.
How to Calculate your Six Months
Having enough in your emergency fund to ensuring you continue to live a balanced life is crucial. The checklist below will allow you to calculate your major physiological, safety and social expenditures. If you need a refresher on how the hierarchy works, click here: http://www.givinggrinch.com/.
Physiological Expenses:

• Mortgage/Rent
• Food
• Utilities: Electricity, Gas, Water
• Prescription Medicine

Safety:

• Health Insurance: Medical (COBRA?), Dental (optional), Eye (optional)
• Other Insurance: Auto, Home, Life
• Utilities: Phone, Cell Phone, TV, Internet, Home Alarm, etc.
• Transportation: Gas, Public
• Taxes: Property, School, etc.
• Education/Daycare/Childcare
• Debt Obligations: Auto, Credit

Social:

• Personal/Entertainment Fund
• Personal Care/Grooming

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Need suggestions for how you can fulfill these and other categories for less? You can download our Master List of Budget Advice from either our website (http://www.givinggrinch.com/) or Blog (http://givinggrinch.blogspot.com/).
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Buoy your emergency fund with this simple tactic
Finding the money to build an emergency fund is not easy. The tactic I’m going to discuss will help immensely. Once you have a couple months cash stashed away, you have enough to cover most short-term uncertainties such as family emergencies, auto accidents or other unanticipated events. This will provide enough security to pursue a strategy that will save a lot of money in another safety area – insurance.
Many people choose the minimum deductibles for their home, auto or health insurance. That doesn’t mean you should. An emergency fund provides a cushion to manage minor mishaps. With this buffer you can avoid high premiums by focusing your coverage on major catastrophes.

Home Insurance

According to the Insurance Information Institute (III), raising your deductible from $500 to $1000 can cut your premiums by 25%
Combine your auto and homeowner’s policy under the same company can reduce your premiums an additional 5-10%
Review your policy; make sure the information used to estimate the reconstruction of your home is accurate.
Call your provider and ask for a list of all the discounts they offer. Some discounts you may not be aware of: home security, new home, auto/home, non smoker and claim free.
Shop around

Auto Insurance

According to the III, raising your deductible from $200 to $500 can cut 15-30% off your premium. Increasing your deductible to $1000 can bring up to a 40% savings
Have an older car? Do the math on the premium you’re paying for collision (damage) and comprehensive (theft) coverage. Insurance companies will only pay the vehicle’s current resale value. To find out what your car is worth visit Kelly Blue Book at www.kbb.com. Compare the value with the amount you are paying annually for collision and comprehensive coverage. Consider cancelling this coverage if it's costing you more than the insurer will pay or if you have enough cash on hand to cover the difference if your car is totaled
Call your provider and ask for a list of all the discounts they offer. Some discounts you may not be aware: low-mileage, longtime customer, defensive driver, anti-theft device, multiple car, passive restraints, ETF and home-auto discount
Do you really need tow and rental car coverage?
Shop around

Health Insurance

While it’s important to be able to visit a doctor when necessary this is not the primary reason for having health insurance. The main purpose of health insurance is to make certain that you're covered against the high cost of hospital visits and specialty care. If you and the individuals on your plan are healthy, make infrequent doctor visits and rarely require prescription drugs consider the following:

Co-Pay: Raise this amount if doctor visits and prescription medication needs are few and far between
Deductible: Same as with home and auto, raising your deductible reduces your premium
Health savings accounts (HSAs) or similar programs allow participants to set pre-tax dollars for medical related expenses.

Where should you put your emergency fund?

Keep this money safe and liquid, but not accessible for daily use. Saving accounts pay very little interest. Money markets offer a better return. You can also put a portion of your emergency fund in a CD where your principal is preserved even if you have to withdraw funds before maturity. Bankrate.com makes it easy to shop around for the best rate: http://www.bankrate.com/.

The Bottom Line

Having a emergency cash fund to cover life’s unexpected – and often untimely – events will not only bring you peace of mind; it will also open other avenues towards building a balanced life.

The Hottest Month

2008-08-05T12:34:00.015-05:00

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www.GivingGrinch.com

Volume 1, Issue 4

Editor: Shreyas Nanavati

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August 2008: The Hottest Month

With energy prices on the raise, the following stat may no longer surprise you – the average family spends over $2000 a year on home utility bills. What may surprise you is that a large portion of energy usage is wasted. Here is a “best of” list for quick, easy, NO COST solutions to stretch your energy dollar.

Climate control (heating and cooling) accounts for 45% of a typical utility bill.

AC: Setting your thermostat to a colder than normal setting will not cool your home any quicker. The excessive cooling will result in unnecessary expenses.
AC: Replace air filters once every three months. Dust and dirt can block airflow which forces heating and cooling systems to work harder increasing operating costs by 10%. Ok, there’s a cost associated with this, but it’s a GivingGrinch no-brainer.
AC: Don’t place lamps or TV sets near your AC thermostat. The thermostat picks up the isolated heat from these devices causing the air conditioner to run longer than necessary.
Fan: A fan will create a wind chill effect allowing you to raise the thermostat about 4 degrees without reducing comfort.
Vent: Turn off kitchen, bath and laundry room vent fans within 20 minutes of use to avoid sucking out the climate controlled air in your home.
Space: Close unoccupied rooms and shut off the vents in areas that do not require heating/cooling.
Windows: During winter nights, close drapes and blinds to limit heat loss; over summer days do the same to prevent the sun from heating your home.

Appliances & Electronics make up 20% of your home energy consumption. Refrigerators, washers and dryers are tops in consumption.

Dishwasher: Cold wash and air dry dishes instead of using the heat/dry cycle.
Washer/Dishwasher: Wash only full loads of dishes/cloths.
Washer: Wash with cold water. Up to 90% of the energy used for washing clothes can come from heating the water. Today’s detergents work just as well in cold as they do in warm water.
Dryer: Clean out the lint filter after each drying cycle.
Dryer: If cloths don’t dry in one cycle, make sure the vent (back of machine) is clear of debris. Editor’s note: I found an abandoned bird nest blocking air flow from my vent.
Dryer: Don’t over dry your cloths. Use the cool-down cycle to finish drying with residual heat. Or, air dry your cloths.
Refrigerator: Maximum efficiency occurs between 37 - 40 degrees for refrigerators and 0-5 degrees for freezers.
Refrigerator: Do not leave door open, up to 1/3 of the cold air can escape every time you open the door.
Oven: Cooking temperatures can drop as much as 50 degrees ever time the over door is opened.
Cooking: Use small appliances, like water boilers, crock pots, toaster ovens and microwaves to save electricity/gas when cooking.
Electronics: Electronics draw a small amount of power when they are switched off. This drain can add up. According to the U.S. Department of Energy, 75% of the electricity used to power home electronics is consumed while tuned off. Use a power strip to avoid individual plugging/unplugging.

Water heating is the third largest expense accounting for 13% of your utility bill.

Shower: If the hottest setting in your shower is uncomfortably hot you’re wasting money. Play with the settings and find your tipping point; 115-120 degrees is idea for a nice, hot shower.
Shower: Cut down daily shower time from 15 to 10 minutes.
Washer: Wash cloths in cold water (see above)
Water Heater: Many websites suggested putting an insulation coat around your water heater to reduce heat loss. This is generally the case with older water heaters. Newer tanks do not require insulation. A quick test – if your water heater is not warm to the touch you do not need additional insulation.

Lighting makes up 11% of home energy bills.

Use task lighting to target work and leisure activities
Turn lights off in rooms that are not in use
Use a timer to light a single bulb lamp for a safety light when not at home

Sources: 2005 Buildings Energy Data Book, Table 4.2.1., 2003 Energy Cost Data; U.S. Department of Energy

Question of the Month:

Is it cheaper to turn the air conditioning off during the day and let it run full blast for a few hours to cool the house when I get home from work, or to let it run during the day at a slightly warmer setting?

“Mr. Electricity,” Michael Bluejay says, “yes.”

Leaving the AC on at a higher temperature while you're away does not use less energy than turning it on when you get home. Why? Heat goes to where it's not. With the AC off, your house will absorb heat from outside, but at some point it will be so hot it can't absorb any more heat. When you come home and turn the AC on it has to remove the accumulated heat once. If the AC is on when you're gone, then your house is constantly absorbing heat because your AC is constantly cooling down the house.

You can learn more by visiting his site: http://michaelbluejay.com/electricity/cooling.html.

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GivingGrinch.com Newsletter Updates

June 2008: Tips for Air Travel. A few people have asked me where they can find information on airline fees. Here it the link from last month’s newsletter to RickSeaney.com: http://rickseaney.com/domestic-airline-fee-chart/

July 2008: Hypermiling. I know lead foots, it’s not easy. Don’t give up; the benefits extend beyond your pocket book.

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Your Suggestions: Keep them coming: advice@givinggrinch.com. You can find the master list of GivingGrinch.com suggestions on this page: http://www.givinggrinch.com/2.html

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Physiological (Basic needs - food, warmth, water and other necessities critical to our survival).

Clothing: If you have a choice, choose garments that do not require dry cleaning and save the added cost and nuisance. Suggested by Patricia in San Antonio.

Safety (Our desire for a predictable, orderly world secure from injustice and uncertainty).

Build a secondary income stream to keep you above water in case of job loss. Realtor, investment advisor, landscaping, “handy man”, jobs you can do, and will enjoy doing on part-time, while also having a full-time job. Suggested by Kristin in Michigan.

It takes money to save money. Have six months cash to cover expenses in the case of job loss or personal emergencies and you gain the ability to raise your deductable to reduce costs on other necessities like auto or health insurance. S. Nanavati,GivingGrinch.com.

Social (Our desire for belonging and acceptance).

Easy Upgrade: Car rental agencies rarely stock “economy” sized cars even though they offer them to be price competitive. If you’re travelling light, increase your odds of an upgrade by renting an economy sized car. Suggestion from Walter in Houston, TX.
Inquire about “kids eat for free” days at your local restaurants. Suggested by Pamela in Houston, TX.

Interview with MoneyReallyMatters.com

2008-08-02T19:53:00.005-05:00

Special Interview with guest, Founder of GivingGrinch.com

Hi folks, this week post is going to be an interview from special guest Shreyas Nanavati (MBA, Vanderbilt), founder of GivingGrinch.com, an on line budget and lifestyle advisory service, and the BudgeFree for Life System. He accepted my request in a short notice to talk about his model for you readers.

I met him a week ago and we had an interesting conversation about money, life and budget and so much more. I was so surprised to meet a person who exactly reflected my thoughts on Budgeting and money management ideas. So I wanted him to do an interview with me to share his ideas and introduce to you all about his model.

Vijai>>Shreyas, Welcome and Thanks for talking time for us.

Shreyas>>It's my pleasure vijai.

Vijai>>Let me start by asking you, What made you to come with this Balanced Life - Budget model ?!

Shreyas>>I wasn’t a budget guru until I experienced my job loss. After a few days of sleeping in, I became restless. I created a daily routine that included having someplace to be in the morning – as if I had a job – and I made sure two or three objectives were accomplished daily. The other thing I did was keep a journal of this experience: standing in the unemployment line, attending networking events, sending out resumes, working through my finances, making sure I meet my social and emotional obligations, etc.

One morning I was typing in my journal and the dots connected – without a job I choose to organize my life in a manner similar to Maslow’s Hierarchy of Needs. This hierarchy encompassed every facet of life and if broken down into individual expenses it shows us how the money we spend, the money we build and the life we lead impacts our overall well-being.

From this experience, I created the BudgetFree for Life system which became the foundation of my website:

www.GivingGrinch.com: Budget Advice for a Balanced Life.

Vijai>>That is an interesting story.

Can you kindly, explain more about your model for my readers?
Sheryas>>Maslow's Hierarchy categorizes an individual's needs into five levels: physiological, safety, social, esteem and self actualization.

Physiological are basic needs - food, warmth, water and other necessities critical to our survival.

Safety needs represent our desire for a predictable, orderly world secure from injustice and uncertainty. Insurance – auto, home, health are examples of safety needs. So is a professional and financial security.

Social needs emphasize our desire for belonging and acceptance. They can range from participation in organizations (professional clubs, support groups, religious affiliations) to intimate personal relationships (family, friends, partners).

Esteem represents our need to be respected by our self and others; our desire for recognition, to participate in activities - professional or personal - that bring a sense of contribution and self-worth.

With this structure, the BudgetFree for Life system is able to determine how your monetary decisions fit to the hierarchy – what levels those decisions attempt to fulfill. You can read more about it on my website: www.GivingGrinch.com.

Vijai>> It like pyramid system of meeting each levels first to move on to the next level? That means, we never go above the next level if one level is not satsified. Don't you think thats stops you from moving above the ladder?

Shreyas>>That’s not correct. Life is not this black and white. It’s true, Maslow believed lower level needs had to be met before higher levels could be pursued, but I believe fulfillment should occur in unison. Another point I would like to make, the hierarchy is a foundation for a balanced life. This includes, but is not solely focused on wealth. The definition of wealth will vary on an individual basis.

Vijai>>Tell me how is it different from the usual mantra of budgeting we all hear out there?!
Shreyas>>There’s a saying: you can take off the good ingredients off of a pizza and it’s still a pizza, but nobody will want to eat it. The same is true for life – we advocate a balanced life. The hierarchy is a foundation for balance, a philosophical approach that helps you create a budget and a lifestyle to ensure each level is being enriched.

Our approach was unlike anything else I’ve read. It’s simple yet holistic. The pyramid crystallizes an approach to life in a neat and easy to remember system. You don’t have to clip coupons, crunch numbers or learn how to use a general ledger. You can it you want, but you don’t have to. Believe in the system, practice the system and you’ll find ways to reduce expenses and build security without thinking about it, without negatively impacting your lifestyle. The numbers work themselves out.

Vijai>>Really, I might have to try myself and check it out.

Tell me, how can one start savings even they are struggling to meet their needs?! Gimme some examples which you use this model practically in your life?
Shreyas>>You asked a simple question, but I want your readers to understand short-term answers are easy, long term meaningful change requires an understanding and transformation of behavior and habits. Working through the system helps you understanding what your expenses, savings and actions aim to fulfill.

On my website you can download a laundry list of suggestions broken down by categories within each level in the hierarchy:

http://www.givinggrinch.com/2.html .

Now, let me answer your question. Sometimes we find big expenses that can easily be replaced with an alternative activity and still maintain balance. More often it’s a culmination of minor adjustments – finding bits from multiple areas where you are leaking cash. For example, building a social life around experiences – entertaining friends, outings to the park, pot lucks instead of socializing a restaurants or bars. A few other examples:

Physiological: Self auditing your energy and water consumption (see my August newsletter)

Safety: Evaluating the benefits of add on features in many utilities – cell (ringtones, text plans, internet plans), TV (premium versus basic), internet (high speed DSL versus low speed DSL), home phone (caller ID, call waiting, long distance), alarm (ADT versus NextAlarm or other online services), etc.

Safety: Modifying your driving habits (see my July newsletter on how to become a hyper miler).

Social: Developing strategies to fulfill our social needs in a more cost effective manner (visit my website: www.GivingGrinch.com for a list of suggestions).

Esteem: Participating in altruistic pursuits (volunteering, for example) versus the accumulation of high-end material goods.
Another tip, I tell my clients to annualize their expense. For example, a morning coffee at Starbucks is only $3, but annualized it can exceed $1,000/year.

If you visit my BudgetFree for Life page, you’ll see an example at that bottom that can save $1214 from basic utilities without neglecting any of your needs. http://www.givinggrinch.com/8.html

Vijai>> That is some good tips. Do you provide any service to help people get on to this model?!
Shreyas>>Absolutely. I love helping people and I believe a balanced life should NEVER cost arm and a leg. I have a basic package, but each client receives personalized consultations for a very affordable price. You can learn more by visiting my website: www.GivingGrinch.com or email me: contact@givinggrinch.com.

I also write a monthly newsletter. It’s free. No spam. Send me an email I will add you to my list. You can find prior newsletters in two places: www.GivingGrinch.com and www.GivingGrinch.blogspot.com.

Vijai>>Thank you Shreyas for taking time to share and shed some light about your model to our readers.

Shreyas>>Thank you for giving this opportunity to visit with you and your readers.

I hope you had a nice read of this interview and got to know more about this new BudgetFree model. Please go ahead and contact him if you need more information.

Car Talk/Gas Talk

2008-07-01T23:52:00.019-05:00

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www.GivingGrinch.com

BudgetFree for Life!

Editor: Shreyas Nanavati

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Word or PDF Version, click here: http://www.givinggrinch.com/2.html

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Car Talk/Gas Talk

We’re spending more and driving less: http://www.usatoday.com/news/nation/2008-06-19-drivingless_N.htm. Every day I see a new article on how to reduce gas consumption. I sifted through the suggestions and put a few to the test. Here are some safe, simple and cost effective do-it-yourself solutions to improve fuel efficiency without sacrificing your standard of living.

Actionable

1. Keep tires properly inflated. According to fueleconomy.gov under-inflated tires can lower gas mileage by 2% through increased friction with the road. Edmunds.com puts the number at 5%. Either way, it’s a quick and easy fix with an added benefit of improved vehicle safety and longer tire tread life.

2. Replace your air filters every 15,000 miles (more often if you frequently drive on dirty roads). Your air filter keeps impurities from damaging the inside of the engine. Not only will replacing a dirty filter improve gas mileage by up to 10%, it will protect your engine. Don’t know how? It’s easy! Watch this video: http://video.about.com/autorepair/Replacing-Air-Filter.htm.

3. Remove excess weight from your car. Stop using your trunk for storage and you will improve fuel efficiency 2% for every 100 pounds of loose weight.

4. Keep windows shut while driving on highways. When driving in town the A/C is a efficiency killer, but close your windows on highways or an increase in drag will reduce fuel economy by 10%.

Behavioral: Be a Hypermiler.

Hypermilers are drivers who exceed EPA estimated mileage on their vehicles by modifying their driving habits. A few simple adjustments can improve overall fuel economy by up to 8% for city and 33% for highway driving. Hypermiling also makes you a safer, calmer and more aware driver. All it takes is a rational head and a patient foot.

1. Cruise (control) on highways: Cruise control cuts down on unnecessary speed fluctuation. It also prevents the tendency to gradually drive faster over long trips. Edmunds.com's measured the mpg for a Land Rover LR3 and a Ford Mustang on cruise control at 70 mph versus driver controlled with fluctuations between 65 and 75 mph. On cruise, the Land Rover got 14% better mileage while the Mustang improved 4.5%.

2. Zero to 60 in 20 seconds? Your car’s engine requires more fuel when you accelerate quickly. In Edmunds.com tests accelerating from zero to sixty in 20 seconds cut fuel consumption for the Land Rover LR3 by 35%, the Mustang by 27%.

3. Coast to Zero: Stop and go driving guzzles gas, especially in city traffic. Avoid it when it’s prudent and you can improve fuel economy by up to 8%. Two suggestions: (1) time lights, don’t floor it on green only to have to stop at the next red and (2) limit quick stop and go behavior by coasting - instead of accelerating - towards a yellow/red light or stop sign.

Test A: Your need for speed

Does hyper-miling mean longer commute times? I tested this concept by making two round trips to my dentist’s office. The round trip journey is 16.2 miles. The route I took included residential, business and highway driving. To face similar traffic congestion, I left at 1215PM on a Tuesday and Wednesday. Trip A (a.k.a. the rabbit), I drove aggressively. Trip B (a.k.a. the turtle), I hypermiled.

Results: Trip A (rabbit) took just over 29 minutes while Trip B (turtle) completed in 30 minutes, 20 seconds. A minute difference, but the turtle was safer and cheaper. Another plus, I was less agitated by stop lights and slow drivers. Traffic and stops are the great neutralizer. Simply put, saving a minute is not worth the added financial and emotional costs.

Test B: How much can hypermiling really save?

I only fill up once every 2-3 weeks. About 90% of my driving occurs in town so my fuel efficiency is on the low end for my car. I created a log and compared my mpg after two fill-ups. For the first fill up I drove normally and averaged 17.8 mpg. For the second, I hypermiled and averaged 19.3 mpg, an 8% increase! Annually this amounts to about a $150 savings. Not much, but I’m driving safer and smarter while saving a few dollars without any sacrifice.

How about you? According to Cambridge Energy Research the average American drives 13,600 miles per year. The National Highway Traffic Safety Administration determined the average mpg of vehicles sold is 24.7. Test these numbers:

Assumptions:

Average annual miles: 13,600

Average mpg: 24.7

Driving Conditions: 50/50 city/highway = 20% improvement in fuel economy by hypermiling

Average hyper mpg: 29.65

Cost per gallon: $4

Results: $383 annual savings!

Number of Gallons Used Annually: 550 (13,600/24.7)

Annual Cost = $2,200 (550 gallons x $4 per gallon)

Number of gallons hypermiling: 458 gallons (13,600/29.65 mpg)

Annual Cost = $1,832 (458 gallons x $4 per gallon)

Annual Savings: $363 ($2,200 – $1,832)

Find out your savings: http://www.fueleconomy.gov/Feg/findacar.htm

In closing, if you live for the thrill of the ride, it won’t be easy becoming a hypermiler, but try, it’s really not that difficult.

TIPS

Physiological (Basic needs - food, warmth, water and other necessities critical to our survival).

Two food and beverage tips from Kristin in Michigan:

1. Make a week’s worth of lunches on Sunday and put them in a spot in the refrigerator that you can grab and go. For example - a sandwich (ham lasts a week), yogurt, carrots, and an apple (or other fruit) are easy to transport, won't go bad sitting and won't smell up the office when you eat it

2. Take tea bags or instant coffee bags to work. All you have to find is hot water to get your caffeine fix.

Three tips to reduce water consumption:

1. Water your grass at night when evaporation and wind minimize water waste

2. Cut shower time in half (sing elsewhere)

3. Turn off running water when brushing or shaving

Safety (Our desire for a predictable width='100%', orderly world secure from injustice and uncertainty).

Reliable transportation is a safety need. Here are four tips to reduce transportation expenses:

Car pool
Public transportation
Bike to shorter distances
Minimize trips by grouping your errands

Social (Our desire for belonging and acceptance).

It’s summer time; spend your weekends enjoying many free events your area has to offer: public festivals, free concerts in the park, etc. Submitted by Andy Sarasota, FL.

Travel Tips

2008-06-01T00:02:00.019-05:00

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www.GivingGrinch.com

BudgetFree for Life!

Editor: Shreyas Nanavati

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Word or PDF version, click here.

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May Newsletter Redux: The Wall Street Journal recently discussed the book “Bottlemania: The Marketing of Thirst,” by Elizabeth Royte. It supports what we discussed in our May Newsletter. Here is the link.

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For the summer newsletters we’re going help off-set the raising costs of travel and transportation and improve your overall experience.

June 2008: “Balanced” Travel Tips

1. Trip Research: Online or check out travel books from your local library.

2. Hotels: Before making a bid, compare notes with other Priceline or Hotwire shoppers at http://www.biddingfortravel.com/ or http://www.betterbidding.com/

3. Consider Renting an apartment at your destination: More space, a fully functional kitchen and the feeling of being at home away from home…perfect for family or couples.

4. Passport Photos: Instead of paying $15-20 for “professional passport photos,” use your digital camera. Take several picks up against a neutral backdrop, select the best 2x2 of your face and print/cut the quantity you need.

5. Packing for Travel: Avoid baggage check fees by packing light. Coordinate your outfits and shoes so you can mix and match. For those with children consider (a) buying diapers upon arrival (b) bringing disposable bibs that cover outfits to prevent frequent change and (c) packing disposable toys to occupy your child’s attention. Suggested by Kristin in Michigan!

6. Airport Transport: Compare the cost of taxi, shuttle, bus services and airport parking before choosing your mode of transportation to and from the airport.

7. At the Airport: Bring an empty water bottle; after security fill it up at the food court water/soda fountain. Good for the pocket book and the environment. Suggested by Kanak in Michigan!

8. Local Transport: Buy local transportation passes in bulk if you’re going to use the service frequently. Consider staying next to a local transport hub for quick and cheap access around town.

9. Overnight Travel: In Europe overnight trains with sleeper accommodations more than offset a hotel night, it actually gets you to your destination while you sleep.

10. Staples: Instead of room service, visit a local grocery store and stock up on water, foods, snacks and drinks saving time and money. Suggested by Kristin.

11. Museums for Less: If you’re not a museum buff, drop right before closing time. Many are free the final 30 minutes.

12. Communications: Use internet cafes or public libraries to communicate to avoid over-priced hotel internet services or international calling fees.

13. Drink for Less: Beers, not spirits. A local beer carries the pride of a region…unless you’re in a vodka producing nation (than drink vodka). For those with children, stock up on libations at the local grocery store so Mom and Dad can have a drink after the kids doze off. Suggested by Kristin.

14. Less (foreign) Change: Get rid of extra foreign currency by paying as much of your hotel bill with your remaining local currency before using your credit card.

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How about some of your ideas? Drop me an email at: advice@givinggrinch.com

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Advice from our Readers:

Physiological Tips

When buying furniture, U-Haul rental costs $19/day versus $100 for home delivery. Suggested by Niki in Houston!

When looking for an apartment always ask for specials and waived application fees. Also, apartments without “views” tend to cost less. Suggested by Niki.

Safety Tips

Electricity: In many states competing energy companies charge different rates to attract customers. The delivery of energy is regulated so it doesn’t matter who you buy from, but the price difference can really add up. Suggested by Niki.

Social Tips

Gifting Giving suggestions from Kristin:

a. When you see a good gift idea on sale purchase it and put it in a dedicated area so you can 'grab and go.' Keep good re-gifting items, but post a note so you know where the gift originally came from.

b. Buy $1 cards for every occasion and keep them in a box (in the gift closet). Write out a full year's worth of birthday cards every January and keep them organized by date.

c. Reuse gift bags

Dining out? Look for BYOB (Bring your own bottle) restaurants. They charge a small corkage fee (for beer or wine), but you’ll always come out ahead. Suggested by Niki.

Water Consumption

2008-05-26T00:05:00.016-05:00

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www.GivingGrinch.com
BudgetFree for Life!
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A Giving Grinch Commentary: Give back to Mother Nature (and your wallet)

I never understood the stigma against tap water. I grew up drinking from a faucet, most of us did. Today people pass up drinking fountains for a $2 bottle of… Dennis Miller once noted “Evian spelt backwards is Naïve,” and I think he was onto something.

Last year, in America alone, we spent over $11 billion on bottled water. What is the cost of this once free resource? According to http://www.thegreenguide.com/, it costs 1.5 million barrels of oil annually to produce the over one million bottles of water we consume daily takes and every year over 22 billion empty plastic bottles wind up in the trash.

Don’t misunderstand; I grew up in a corner of God’s country free of industry and pollution and water tasted like water should. These days I live a large metropolitan area and the tap water tastes of the urban environment. Still, there are win-win solutions. Consider home filtration products, like PUR, Brita or your refrigerator water filter (replace it annually and the water tastes great). Not only is it a cheaper solution for you, it is better for environment.

This just in, research has proven that we really don’t need to drink 8 glasses of water a day. http://www.belfasttelegraph.co.uk/health/article3574829.ece

I’m not trying to be preachy; I drink bottled water from time to time, it has its time and place, but hopefully this column makes financial and environmental cents of the matter.

And now, some of your suggestions…

Physiological Tips

Use a power strip to turn your devices on/off when not in use. Suggested by Shefali in NYC!
Close walk-in closet and bathroom doors when heating/cooling rooms. Suggested by Sonali in Bangkok!
Let dishes in the dishwasher air dry instead of heat dry. Suggested by Sonali in Bangkok!
Keep your freezer full (an empty freezer uses more energy to remain cold than a full one. Suggested by Kaen in Bangkok!
Shop at discount, outlet or big box (Costco, Sam's) stores for your basic clothing needs (T-shirts, socks, etc). Submitted by Shefali in NYC!
Purchase non-perishable items in bulk (or when on special). Suggested by Clarence in NYC!
Use mail-order drug providers (ExpressScripts, MedCo) for routine prescription refills. Submitted by Sonali in Bangkok!

Safety Tips

Study your employers benefits, many offer insurance (life, disability, etc) up to one year's salary (or longer) for a deeply reduced fee. Submitted by Sonali in Bangkok!
Request periodic job reviews to know how you stand with your employer. Submitted by Shefali in NYC!
If your company is experiencing trouble, stay ahead of the game by networking, looking for alternative employment opportunities. Submitted by Sonali in Bangkok!

Social Tips

Make your own gifts (jams, jewelry, knit-wear, etc)! Submitted by Sonali in Bangkok!
If you have friends in common, go in on a gift together; usually you can give a nicer gift for less by splitting the cost. Suggested by Saheli in San Francisco!
Visit your library to quench your reading, movie and music fix. Submitted by Clarence in NYC!
Don’t shop to curb your stress – exercise instead. Submitted by Nick, NYC.
Shop for trendy clothes during the off-season for a deep discount (winter clothes after Christmas, summer clothes in the Fall). Submitted by Sonali in Bangkok!

Consultation Service

2007-12-02T20:05:00.004-06:00

GivingGrinch: Budget Consultation Service

View more presentations from Shreyas Nanavati.

BudgetFree for Life: The Class

2007-12-01T18:48:00.013-06:00

Space is Limited, Register Today (it will be the best money you've ever saved)!

BudgetFree for Life: The Class (offered by Leisure Learning)

2009
Where: Houston, Texas (Greenway Plaza Area - Richmond & Kirby)
When (Time/Date): 1:30PM, 21February (Saturday)
How Much: $26 (credit cards accepted)

Register: http://www.llu.com/sdc/group_classes_llu.html?classgroup=35029

BudgetFree for Life: The Boot Camp

2007-11-01T18:46:00.010-05:00

Space is Limited, Register Today (it will be the best money you've ever saved)!

BudgetFree for Life: The Boot Camp
SATURDAY NOVEMBER 1, 2008

Budgets, like diets, don't work. You can take control of your finances. You can live the lifestyle you truly desire. This class teaches you how to approach matters of money and life in a rational, hands-off manner. Say "yes" to having control of your money and becoming BudgetFree for Life!

When: No classes scheduled

Where: TBD

Time: TBD
Cost: $30/per person, $55 per couple

Payment: Checks/Cash accepted, paypal preferred to: nanavati@givinggrinch.com

Information: nanavati@givinggrinch.com/Cell: 281-451-4998

RSVP: nanavati@givinggrinch.com/Cell: 281-451-4998

Budget Advice by GivingGrinch.com

Healthy food, fast and cheap (USA Today)

FAQ on new credit card rules (Kiplinger)

Five ways to improve your credit

How good is your 401(k)?

How to fix your finances in 2010 (WSJ)

Your Ultimate Shelf Life Guide - Save Money, Eat Better, Help The Environment

Condoms and canned goods

Living large in lean times

Cavities, tap water & fluoride (WSJ)

Free airport Wi-Fi for the holidays

Gift for all seasons and reasons (re-post)

Direct Buy Commentary

Five ways wireless carriers try to gouge you

Goodwill...charatable giving on a budget

WSJ: Gift cards are useful; give me cash

Teach children the value of thrift

Life on severance ...is time running out?

Free credit scores...really.

Where the (every day) chear air fares are

Haggle Your Way To Savings Redux

For Your Budget, Your Planet and Your Behind

Auto Insurance Advice from Kiplinger's

Access to Health Care: A Survey

Is Spending Patriotic?

Restaurant.com Redux

Free 411 and Q&A from Google & ChaCha.com

Prime Steak within Reach

Haggle Your Way to Savings

Your Tax Refund

Guest Blogger: Money Smart

BudgetFree Investing

A Nation of Value Shoppers

Gifts for all Seasons and Reasons

Manage Your Time & Take Back Your Life

Grocery Tips and Organics

The Gift of Time

Shopping Tips & Selling Tactics

Welcome Great Day Houston Viewers!

GivingGrinch in the Press: Houston Chronicle

When Nature Attacks

Your Emergency Fund

The Hottest Month

Social (Our desire for belonging and acceptance).

Easy Upgrade: Car rental agencies rarely stock “economy” sized cars even though they offer them to be price competitive. If you’re travelling light, increase your odds of an upgrade by renting an economy sized car. Suggestion from Walter in Houston, TX.

Interview with MoneyReallyMatters.com

Special Interview with guest, Founder of GivingGrinch.com

Car Talk/Gas Talk

Social (Our desire for belonging and acceptance).

Travel Tips

Water Consumption

Consultation Service

BudgetFree for Life: The Class

BudgetFree for Life: The Boot Camp