Are you Spending too Much on Valentine's Day?

Chocolate...flowers...cards...clothes...jewelry...a fancy dinner...a weekend getaway...

It's no wonder why Valentine's Day is easily one of the most expensive holidays. According to a research conducted by the National Retail Federation in 2008, men spend an average of $163.37 for Valentine's Day, while the average woman only spends about $84.72.

If you're like most Americans today, saving money and cutting back on expenses is a priority. Therefore, this year, why don't you try something a little more financially creative. Instead of an expensive dinner out, try cooking a meal together or plan a picnic. For gifts, rather than spending $100 on meaningless items, make a homemade photo album with your best memories, write a poem or song, or simply create a card from the heart.

Remember, Valentine's Day is only one day; celebrate love everyday!

Resources:

http://blog.seattlepi.com/singleout/archives/131628.asp

TFCU 18th Annual Scholarship

It’s that time of year again! The 2010 New Year is right around the corner and it seems like this year, more people are vowing to keep their New Year’s resolutions. Whether it’s quitting an old habit, reaching out in new ways or even bettering your health, you’re not alone. Here are the top ten New Year’s Resolutions for 2010:

1. Spend more quality time with family and friends.
2. Make more time to work out and get into shape.
3. Lose weight.
4. Quit smoking.
5. Quit drinking.
6. Enjoy life more and learn not to sweat the small stuff.
7. Get out of debt!
8. Learn something new.
9. Help others.
10. Get organized.

If you’re like me, by the time January 14th rolls around your New Year’s resolution is a part of the past and long forgotten. If so, here are some tips to help you create achievable resolutions and stick to them:

1. Be realistic. Make sure your goals are achievable for you and that you have a plan to make it work throughout the year.
2. Tell everyone you know. If you have the support of your family, friends and coworkers, it will be much easier to achieve that goal.
3. Pick one or two resolutions and stick with it. Most people make the mistake of changing 10 aspects of their lives and quickly realize how difficult that can be. One or two goals is much easier and attainable.
4. Be specific. Create a plan with specific details. For example, if you plan on losing weight set monthly goals instead of one large annual goal. This will keep your goal in perspective and your plan on track. Smaller achievable goals will boost confidence and motivation.
5. Get to the root of the problem. Figure out why you’re doing something that you don’t want to do. If you don’t have time to work out because you’re not organized and get home late from work, get more organized.
6. Reward yourself!

Resources:

http://easyexpat.blogexpat.com/blog/expat/2009/12/28/top-five-new-year-resolutions-and-tips-to-help-you-keep-them

How much does it cost to return unwanted holiday gifts?

Have you ever opened a gift and felt highly disappointed? How many of you have made trips to stores after Christmas to return those gifts that just weren't for you? If you answered yes to any of these questions, you are not alone. The day after Christmas is rapidly becoming one of the busiest days at retail stores due to gift returns alone. But how much are you really getting back when you return an item?

The Massachusetts Consumer Affairs office conducted a survey in which more retailers are charging restocking fees for items returned if they're opened or not in their original packaging. Most companies charge restocking fees anywhere from 10-25% of the product price, with some retailers charging as much as 60% in restocking fees!

Retailers can charge these restocking fees on anything sold including electronics, jewelry, appliances, tools, and clothes. To avoid this fee, simply don't open the package if you know you don't want what's inside. Also, always make sure you know the return policy and the restocking fees when purchasing gifts for others.


Resources:
http://money.cnn.com/2009/12/16/pf/saving/returning_gifts/index.htm

Get your Money's Worth When Purchasing a Vehicle

Consumer Reports recently updated its top ten most reliable cars list and a great list it is! While Asian automakers continue to dominate the charts, American automaker Ford received great ratings for its consistent reliability and prices. So the next time you are searching for a new vehicle to purchase, make sure it is reliable, affordable and enjoyable. After all, you want to get your money's worth! Check out the list of the top ten most reliable cars:

1. Honda Insight
Sticker price: $19,800 - $21,300
Mileage: 43 mpg Hwy, 40 mpg City

2. Toyota Prius
Sticker price: $21,000 - $27,670
Mileage: 48 mpg Hwy, 51 mpg City

3. Infiniti M35
Sticker price: $45,800 - $45,800
Mileage: 23 mpg Hwy, 16 mpg City

4. Lexus SC
Sticker price: $67,505 - $67,505
Mileage: 23 mpg Hwy, 16 mpg City

5. Toyota Venza (4 cylinder)
Sticker price: $26,275 - $29,550
Mileage: 29 mpg Hwy, 21 mpg City

6. Honda CR-V
Sticker price: $21,545 - $27,745
Mileage: 28 mpg Hwy, 21 mpg City

7. Toyota FJ Cruiser
Sticker price: $23,680 - $25,270
Mileage: 21 mpg Hwy, 17 mpg City

8. Mercedes-Benz GLK

9. Toyota Sequoia
Sticker price: $38,530 - $58,905
Mileage: 19 mpg Hwy, 14 mpg City

10. Toyota Tundra V6
Mileage: 19 mpg Hwy, 15 mpg City

Sources:
http://money.cnn.com/galleries/2009/autos/0910/gallery.consumer_reports_most_reliable_cars/index.html

Save $1000 by the Holidays

A coworker of mine recently forwarded me a wonderful article with tips and tools on how to save $1000 by December. The best part about this article, is that you won't even notice the small amounts of money that you are setting aside each month. According to Yahoo Finance, there are six simple tips to start following to avoid holiday debt next year. Practice these tricks for the months of October and November, and you could have $1,000 saved by December:

1. Adjust your tax withholding. The average tax refund last year was about $2,700. If you got a refund, that means you paid Uncle Sam too much money! Keep it for yourself to add to your holiday savings instead. You simply need to change your tax withholding by filing a new W-4 with your employer's human resources department. The changes will go into effect on your next paycheck.
Two months of savings = $450 (based on the average refund)

2. Take fewer trips to the grocery store. Make biweekly larger shopping trips so that you can stick to your budget. This will eliminate impulse buys. If you spend $10 each trip on impulse buys, and you visit the brochery store three times a week, that adds up to at least $120 extra each month. Shop with a list and think about what you'll need for the week in advance.
Two months of savings = $160

3. Kick a habit that is costly, yet not necessary. Perhaps it's those three Cokes a day, your lunches at Baggins, or your daily runs to Starbucks or workplace vending machine. Instead, bring a bottle of water, snacks and lunch from home -- and make your own coffee! Other tips include reading your magazines and newspapers online and walking the extra block to your bank's ATM to avoid paying the out-of-network fee.
Feeling extremely motivated? Look at bigger habits in your life that are costing you, such as gambling, smoking or even shopping as a hobby. You will be surprised as to how much you can save!
Two months of savings = $200

4. Eat out one less time per month. Dining out can be really expensive these days. But there's no need to go cold turkey. Resolving to eat at home just one time more per month than usual can make a big difference. Considering a meal at a casual dining restaurant costs about $20 per person, you would spend $80 for a family of four to eat out. Instead, you could cook a family meal at home for less than $20 total, saving you at least $60 each month.
Two months of savings = $120

5. Put on a sweater. For every degree you lower your thermostat, you save 5% off your heating bill, according to the Alliance to Save Energy. So on a $300-per-month bill, dropping your thermostat just two degrees and donning a sweater will save you $30 a month.
Two months of savings = $60

6. Examine your phone and cable use. Do you really need all those cable and movie channels? Drop your premium channels and you could save $15 per month or more.
Then there's your phone bill... Do you really need caller ID? Call waiting? Voice mail? Internet service on your cell phone? Dropping one or more of these extras could shave $5 to $50 off your phone bill. You might even consider dropping your landline phone service altogether in favor of your cell or a free online service like Skype. That could save another $20 to $50 per month.
Two months of savings = $100

Total savings by December = $1,090

Article taken from http://finance.yahoo.com/banking-budgeting/article/107928/find-1000-by-the-holidays.html?mod=bb-budgeting

Halloween Costume Savings Tips

Halloween is just around the corner, and with costumes, decorations, candy and gatherings, it can really add up! Halloween is a one night event, therefore it's ok to be frugal and watch your expenses for this particular night. Here are some tips to save money on Halloween costumes:

1) Be creative! Use old clothes, material, foil paper, whatever you have in your home to make a costume.
2) Borrow from a friend. Sometimes they have pieces you can borrow, and some friends may lend you the entire costume they wore last year.
3) Purchase unisex costumes for kids. That way when one kids outgrows it, the next one can use it!
4) Shop yard sales. A lot of people sell costumes that have only been worn once for $5-$10.
5) Shop after-season clearance sales. Costumes usually go on sale the night of Halloween of the following day. I have seen even 90% off of costumes the next day!
6) Shop online early! Most costumes are fairly priced in February or March. The early bird gets the work.
7) Check out thrift stores such as Savers. They sell some new and used costumes and accessories at excellent prices.
8) Wear a costume you wore three years ago. No one will even remember that you have already worn that costume.
9) Save between $5 and $10 every month starting in November so if you prefer to buy a new costume, you will have the means to do so without breaking the bank.
10) Remember you will be wearing this costume for one night! Have fun, be creative, but remember that your costume does not have to be elaborate or expensive for that matter.