Most Americans spend the greatest amount of money and go into debt during the December holiday season. This year get a jumpstart on holiday shopping and start shopping in October. When shopping for gifts during the holidays, many shoppers are filled with anxiety, pressure or guilt about spending money during the holidays.
If you don't have the money to buy gifts be honest with yourself first, then with your family and friends. The holidays about not about spending money, they are about spending time with family and friends. If you have a small amount of buy to buy gifts buy what you can and don't use your credit card to buy gifts unless you have the money to pay the debt off in two or three months.
Here are some reasons why you shouldn't spend money this holiday: 1) you owe more than $5,000 in debt, 2) you are not a homeowner, 3) you do not have a savings account, 4) you do not have a retirement account or have a low balance, 5) you owe more on your home or car than what it is worth, 6) you have bad credit, 7) you are considering filing for bankruptcy or foreclosure, 8) you live with your parents.
Here are 5 ways to help you save money during holiday shopping.
1. Visit the local dollar store to find gifts for children.
2. Visit local vendors, you can probably negotiate a good deal on the same items you find in the department stores.
3. Think of creative gifts to give that you can make yourself.
4. If you have to buy gifts for several family members try doing a "secret Santa" or "grab bag" so only one family member has to buy a gift for one family member and set a limit on the amount spent. That way everyone gets a gift and you don't have to worry about buying several gifts.
5. Shop online, some companies waive shipping and handling fees during the holiday season.
Showing posts with label money mangement. Show all posts
Showing posts with label money mangement. Show all posts
Friday, October 01, 2010
Friday, July 30, 2010
How to Save Money At Starbucks
Americans love drinking coffee but love drinking Starbucks even more. Americans have even become addicted to Starbucks. Americans who never drank coffee now go to Starbucks to drink coffee or some variation. The Starbucks marketing team is great to have that kind of affect on people but how has it affected you?
For the past several years Starbucks has dominated the coffee industry but now have a little competition from companies like McDonalds and Dunkin Donuts. This is especially true now during the slow economy. Americans are most conscious of their spending and some are making a great effort to live below their means and reduce their spending on extra treat such as Starbucks.
In January 2010, Starbucks increased their prices in certain areas and customers are not happy about the price hikes. Some customers have skipped the Starbucks and opted for coffee from Starbucks competitors.
Some Starbucks lovers are buying their Starbucks from other retailers such Safeway, Kroger, Walmart, Target, CVS as or online at sites such as discountcoffee.com or amazon.com.
The average price of one cup of Starbucks coffee costs $5.50 and in one year that equals to $1,375. If you buy a complex or specialty coffee with extras you could pay up to $9 for one cup. What would you do with that extra money?
Although Starbucks now offers an instant coffee for $1 you can still get coffee cheaper at the grocery store or buying in bulk at discount stores such as Costco or Sams Club. If you buy coffee from the grocery store a 27.8 ounce can of ground coffee can range from $7.39 to $10.99. Costco sells 18 – 2.5 ounce bags of coffee or 45 ounces for $42.03. Compare that with 1-12 ounce bag of Starbucks ground coffee for $9.99. If you love coffee here are some ways to save money.
1. Regular Coffee – Drink regular coffee instead of Starbucks. Remember what you did BS (before Starbucks) - you drank regular coffee. People seem to be addicted to Starbucks as though they never drank regular coffee. Unless you have several shares of Starbucks stock which earns more money each than you spend a month at Starbucks skip it. Every once in a while splurge on a cup of Starbucks but don’t make it a daily habit.
2. Short Cappuccino (Short Cap) – Order a short cap which is only available by request. It is smaller and costs less than the “Tall” Cappuccino.
3. Starbucks Regular – Buy the Starbucks coffee instead of a latte. You can save approximately $1.50.
4. Pairing – Starbucks sometimes offer customers options when purchasing a latte and a desert. Ask about their "pairing" specials. You can save approximately $1.00-$1.40.
5. Substitute Latte – Order 1-2 shots of expresso or macchiato in a large cup and fill with milk. You can also use half-n-half instead of milk in the macchiato. You can save approximately $.50-$1.20.
For the past several years Starbucks has dominated the coffee industry but now have a little competition from companies like McDonalds and Dunkin Donuts. This is especially true now during the slow economy. Americans are most conscious of their spending and some are making a great effort to live below their means and reduce their spending on extra treat such as Starbucks.
In January 2010, Starbucks increased their prices in certain areas and customers are not happy about the price hikes. Some customers have skipped the Starbucks and opted for coffee from Starbucks competitors.
Some Starbucks lovers are buying their Starbucks from other retailers such Safeway, Kroger, Walmart, Target, CVS as or online at sites such as discountcoffee.com or amazon.com.
The average price of one cup of Starbucks coffee costs $5.50 and in one year that equals to $1,375. If you buy a complex or specialty coffee with extras you could pay up to $9 for one cup. What would you do with that extra money?
Although Starbucks now offers an instant coffee for $1 you can still get coffee cheaper at the grocery store or buying in bulk at discount stores such as Costco or Sams Club. If you buy coffee from the grocery store a 27.8 ounce can of ground coffee can range from $7.39 to $10.99. Costco sells 18 – 2.5 ounce bags of coffee or 45 ounces for $42.03. Compare that with 1-12 ounce bag of Starbucks ground coffee for $9.99. If you love coffee here are some ways to save money.
1. Regular Coffee – Drink regular coffee instead of Starbucks. Remember what you did BS (before Starbucks) - you drank regular coffee. People seem to be addicted to Starbucks as though they never drank regular coffee. Unless you have several shares of Starbucks stock which earns more money each than you spend a month at Starbucks skip it. Every once in a while splurge on a cup of Starbucks but don’t make it a daily habit.
2. Short Cappuccino (Short Cap) – Order a short cap which is only available by request. It is smaller and costs less than the “Tall” Cappuccino.
3. Starbucks Regular – Buy the Starbucks coffee instead of a latte. You can save approximately $1.50.
4. Pairing – Starbucks sometimes offer customers options when purchasing a latte and a desert. Ask about their "pairing" specials. You can save approximately $1.00-$1.40.
5. Substitute Latte – Order 1-2 shots of expresso or macchiato in a large cup and fill with milk. You can also use half-n-half instead of milk in the macchiato. You can save approximately $.50-$1.20.
Monday, May 31, 2010
Are You Stressed Over Debt
Are you stressed about your debt, you are not alone, so is most of the country. Over 1.3 million people have foreclosed on their homes this year. The unemployment rate remains at 9.9%.
Many people are still struggling to pay their bills while others have given up looking for employment. Others are living on fixed incomes that have not received a yearly increase to match the rising costs of food, housing and other basic necessities.
Americans who once traded in older homes, cars and clothing for updates each year are now forced to take care of their things and hold on to them longer because they simply can't afford to buy anything new.
Before the recession many Americans only lived day to day and didn’t worry about their future. Now many Americans are worried about their future and are struggling to live day to day. Americans are stressed about their homes, their jobs, their cars and other debts that they are unable to pay.
There has also been an increase in the number of judgments filed since the recession. More Americans are being dragged to court to pay delinquent debts that they don't have the money to pay. Hopefully the judges will be easy and setup payment plans that the consumers can afford instead of filing in the creditor's favor.
The recession has forced many Americans to live well below their means and watch their spending by reducing expenses, eating out less, canceling certain luxuries and look for new ways to save money. The good news is that more Americans are saving. According to the Department of Commerce, Americans saved 4.2% of their income last year.
The groups who are the most stressed according to a survey by AP-GfK are: households with income less than $20,000; women; married couples, and Americans aged 30-44. Groups with the least stress are: men, retirees, Americans aged 60 and over, singles, households with income greater than $100,000 and the wealthy.
Many people are still struggling to pay their bills while others have given up looking for employment. Others are living on fixed incomes that have not received a yearly increase to match the rising costs of food, housing and other basic necessities.
Americans who once traded in older homes, cars and clothing for updates each year are now forced to take care of their things and hold on to them longer because they simply can't afford to buy anything new.
Before the recession many Americans only lived day to day and didn’t worry about their future. Now many Americans are worried about their future and are struggling to live day to day. Americans are stressed about their homes, their jobs, their cars and other debts that they are unable to pay.
There has also been an increase in the number of judgments filed since the recession. More Americans are being dragged to court to pay delinquent debts that they don't have the money to pay. Hopefully the judges will be easy and setup payment plans that the consumers can afford instead of filing in the creditor's favor.
The recession has forced many Americans to live well below their means and watch their spending by reducing expenses, eating out less, canceling certain luxuries and look for new ways to save money. The good news is that more Americans are saving. According to the Department of Commerce, Americans saved 4.2% of their income last year.
The groups who are the most stressed according to a survey by AP-GfK are: households with income less than $20,000; women; married couples, and Americans aged 30-44. Groups with the least stress are: men, retirees, Americans aged 60 and over, singles, households with income greater than $100,000 and the wealthy.
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