Money Tips Network

What To Buy (and Avoid Buying) in May

As the weather continues to hammer certain parts of the US, it's hard to believe that summer is just around the corner. For many of us, spring is hardly getting the chance to poke its head through the dark clouds. But, there are May bargains to be had, and if you know what to look for you can save a bundle. Oh, and Mother's Day is on May 11th, so if you haven't started looking yet, use the list below for some money-saving gift ideas.

What to Buy

Memorial Day is in May, and that brings some very memorable bargains with it. If you're looking for deals on certain items, the top ones are listed here.

5 People You Should Have in Your "Personal Emergency Kit"

They say it takes a village to raise a kid, but the truth is, it takes a village to get through life in general whether you have kids or not. And to exist in a relatively peaceful village, you have to ensure that you're surrounding yourself with the right people — especially for emergency situations.

I'm sure you can think of plenty of folks in your own life who lend a helping hand when you need it. That's great; keep them around. If you don't have these people, however, it's time you let your guard down and let some new folks in; you never know when you're gonna need them, but when you do, you'll be glad you found each other.

You Won't Believe How Much You Can Save With an Ice Cube Tray

People are surprised that I had the ice machine in my very swanky freezer removed. But I needed the extra space for ice cube trays.

Why have an ice machine that only freezes water, when I can freeze so many other things in an ice cube tray?

Ice cube trays are powerful kitchen tools for the home cook. They speed up prep, reduce food waste, and make portion control a cinch. I have NINE different types of frozen cubes stored in my freezer right now, but that's just the tip of the proverbial iceberg of what can be frozen.

Best Money Tips: Essential Steps to Take Before a Job Interview

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some awesome articles on essential steps to take before a job interview, reducing stress in your life, and making money for your monthly bills.

Top 5 Articles

10 Essential Steps to Take Before a Job Interview — Before a job interview, turn off your phone and take deep breaths. [PopSugar Smart Living]

Reduce the Stress in Your Life — Eating right and exercising can help reduce the stress in your life. [Parenting Squad]

Is This Hidden Cost Sapping Your Retirement Savings?

Mutual funds are the most commonly discussed investment vehicle. They are an option in almost all 401(k) retirement plans, individual retirement accounts (IRAs), and brokerage accounts. However, there is more than meets the eye when it comes to underlying expenses. Over time, this minor detail can have a severe impact on the growth of your money.

The Secrets of History's Most Successful Savers

History divides penny-pinchers into three categories: the frugal, the misers, and the savers. They make for entirely different types of stories.

There is overlap, of course, but the media also loves to find billionaires in blue jeans instead of Armani suits and label them skinflints. The world's richest man, Carlos Slim Helu, has lived in the same six bedroom house for 30 years and still drives himself to work, albeit in a $300,000 Bentley. Warren Buffett, the Sage of Omaha, worth $62 billion, still lives in his hometown in a house he bought in 1955 for $31,000.

10 Awesome Credit Card Perks You Didn't Know About

When you sign up for a credit card, chances are you are looking for something specific. You might be signing up for the travel rewards, or for the 0% APR balance transfer (see our picks for best transfer balance credit cards).

But you might be getting more than you bargained for when you sign up for some credit cards — in a good way. When you look through your welcome packet, check to see if you have any of the following little-known credit card perks.

Money challenges: Why I’m OK with them, and a few of my favorites

This article is by staff writer Kristin Wong.

I’m not usually a fan of gimmicks. But if the sole purpose of a gimmick is to save some extra cash, I guess I’m OK with it.

We talked about this recently, but there seems to be a heightened interest in frugality lately. Maybe that’s why I’ve noticed a whole crop of money-saving challenges popping up all over the Internet, from personal finance blogs to Pinterest.

And then, the other day, my boyfriend asked: “Have you heard of this thing called the 52-week challenge?”

I was a little surprised. My boyfriend doesn’t spend much time on the Internet, and he doesn’t keep up with personal-finance trends. Turns out, a friend of his mentioned the challenge during a recent hangout, as he and his wife are giving it a go.

How to Sell a House

If you're looking for the details on "how to sell a house", I'll cut to the chase:

Bury a St. Joseph statue upside-down in your yard, facing toward the for-sale house. After the house sells, the seller is supposed to dig up the statue and place it in a spot of honor in their new home.

:)

I stumbled upon this piece from the Wall Street Journal that talks about the inverse relationship between the housing market and sales of St. Joseph statues. When the market is bad, sales of the statues rise (because people are looking for ANYTHING that will help sell their house, even if it doesn't work.) When the market is good, homes sell quickly, so no help is needed from St. Joseph.

I find this piece interesting because:

Have you considered these low-cost healthcare options?

We have a nephew who lives in Switzerland whose wife recently gave birth to their second son. She stayed in hospital for an entire week and the blessed event cost them … nothing. Contrast that with this report from the New York Times, detailing the high cost of childbirth in the States. Obamacare is an attempt by the Government to “do something” about the problem. Whether you’re a fan or hater of Obamacare, there can be no doubt that the real problem isn’t the political party on either side of the argument — it’s the high cost of healthcare in America. That’s why I started to look beyond Obamacare to find other solutions.

The Problem

Naked With Cash: Jake and Allie, March 2014

Naked With Cash is an ongoing series at Consumerism Commentary in which readers share their households’ finances with other readers. These participants benefit from the accountability that comes from tracking their finances publicly and the feedback of the four expert Certified Financial Planners (CFPs).

For more information, read this introduction.

The new way to get rich slowly

This article is by staff writer William Cowie.

The face of getting rich slowly is changing right before our eyes, even as the status quo is failing. Before this year’s State of the Union address, the President’s media supporters, fretting about his low approval rating, fumed“…never during his time in office has the state of the economy been better — yet rarely has he gotten such low marks from the public for his handling of it.”

Why savers are a necessary evil for banks and credit unions

The credit union my family belongs to had their annual meeting a couple of weeks ago.  During the question and answer session, one of the members asked that the credit union look for ways to increase the rate of interest earned on savings accounts.  “They’re not paying a whole lot these days,” the member lamented.

The board and the management listened and sympathized with her, while they gently reminded her how the credit union makes money:  loans.

What they didn’t say

They didn’t go on to say that savers like her not only don’t make the credit union any money, they cost them money.  The credit union accepts her cash and coins, allows her to withdraw it from dozens of ATMs a few times a month without any surcharges, and automagically transfers money to the cable company with free bill-paying services.

Creating a Problem Where None Exists

Recently, I was in a doctor’s office waiting for an appointment with my youngest son (who had a strange rash that he apparently contracted during a hike in the woods). As he sat at the kid’s table and played with a few toys, I flipped through a magazine.

While browsing, I came across a brief article about toothpaste. This article lauded some new toothpaste that contained a new cleansing agent and was incredibly gentle on the teeth while getting “astounding” cleaning results. The catch was at the end of the article – it cost something like $15 per tube.

Reader Mailbag: Children’s Television

What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to five word summaries. Click on the number to jump straight down to the question.
1. Home purchase question
2. Cheap non-tacky home decor?
3. Gardening for salads?
4. Car repossession question
5. Feeling guilty about spending
6. Replacing magazine subscriptions
7. Big celebration? Or wait?
8. Credit score estimates
9. Old shoes

Podcast 174: Zac Bissonnette, Good Advice From Bad People

Today’s guest on the Consumerism Commentary is author Zac Bissonnette. Zac last appeared on the show four years ago, and he’s back today to talk about his new book, Good Advice from Bad People: Selected Wisdom from Murderers, Stock Swindlers, and Lance Armstrong.

The study of hypocrisy seems to be infinite, but it is particularly evident in the self-help and motivational genres — and you don’t have to look far from personal finance advice to find some of the most egregious examples of experts and gurus living by rules different than those they preach. Zac’s book is a fascinating read about the lives of notorious people who, if judged by their words of advice alone, should be saints.

Book review: “Eventual Millionaire”

This article is by staff writer Honey Smith.

There are many personal finance books and tools out there that are useful to people in all stages of personal finance. I have a lot to learn before reaching financial independence, and the editorial elves thought it would be helpful if I shared some of what I learn with you.

Turn tantalizing foreign cuisine into budget meals

“Well, if I’m going to cook an authentic Argentinian meal, I’m going to have to buy grass-fed beef,” I said to myself. “But the spousal unit is totally going to kill me when he sees how much this meal cost.” It’s thoughts like that that almost derailed the personal challenge I had taken to to [...]

Turn tantalizing foreign cuisine into budget meals from personal finance blog Bargaineering.com.

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Do You Rebalance These Days?

Here's a piece from CNN Money that asks whether you should rebalance your portfolio or not. Their thoughts (FYI, this piece was published at the end of 2013, hence the numbers below are not for 2014):

Learning to live with risk

The stock market has had some rocky sessions lately, but we should be used to that. The 21st century has already dished out two major bear markets in stocks, not to mention what has happened to real estate, oil futures, and gold at various times in the 2000s. We are having to learn to live with risk.

That is not natural for me. I am not a risk-taker by nature. People who study economic decision-making talk in terms of risk-averse and risk-seeking behaviors; my instinct is almost always to come down on the risk-averse side of the decision. And yet, I’ve learned to live with risk. A substantial part of my net worth is in the stock market, meaning that on a typical day I make or lose far more due to the whims of Wall Street than I earn by working that day. For the most part, I am comfortable with that.