This post was featured at GreenStyleMom.
Butternut Squash Soup
This hearty soup is really quite delicious, perfect for cold days. Besides being low calorie, squash is a great source of vitamins and fiber. This is a great option for a 'meatless' main dish...satisfying, but saves you money and calories.
Prep time: 15 min.
Cook time: 25 min.
Ready in: 40 min.
Servings: 4
Price per serving: $0.83
Ingredients:
1 tablespoon canola oil
1/2 cup diced onion
3/4 cup diced carrots
4 cups peeled and cubed butternut squash (about 1 squash)
3 cups chicken broth
salt and ground black pepper to taste
ground nutmeg to taste
Directions:
In large pot, cook and stir the onion in oil until tender. Mix the carrots and squash into the pot. Pour in vegetable stock, and season with salt, pepper, and nutmeg. Bring to a boil, reduce heat, and simmer until vegetables are tender. In a blender or food processor, puree the soup mixture until smooth (I use a hand blender in the pot). Serve warm with a dash of nutmeg.
Check back each Friday for more inexpensive recipes for around $1 per serving!
Cheap Eats: Recipes for Around $1 Per Serving
Work Hard + Work Smart = Wealth and Success
This post was featured at The Dividend Guy, Savvy Frugality, The Gonzo Papers, and The Skilled Investor.
While attending a university commencement, I received some sage advice that I will always remember. Ira A. Fulton, a self-made millionaire and active philanthropist, gave the commencement address. In it, he advised the graduates to 'work hard, and to work smart.' I have often reflected on these words, realizing that in today's world, just working hard won't always get you to where you want to be.
When at work, give your employer your full attention. Working hard also means working honestly. If you are getting paid for working 40 hours a week, you need to be wholly 'present' for those 40 hours. While on the job, do you spend an unreasonable amount of time away from where people can reach you, on the internet, taking coffee breaks, etc? If so, can you really expect to become truly successful at your job? Working honestly also creates good karma, which I'll touch on again.
If you aren't employed, work hard at keeping what comes into the house. I stay at home, and don't earn a paycheck, but that doesn't mean that I don't work hard. I do work hard, and my work has value. Besides raising children to be contibuting members of society, I save money aggressively by constantly learning to be economical, invest that saved money in diverse ways, and am steadily increasing our family's net worth. Despite not being the family breadwinner, I work hard at being successful, and at gaining wealth.
Work Smart
Increase your efficiency and productivity. Entire books have been written about this subject, so I'll just add this: do whatever works for you to increase your productivity--prioritize, once-a-week planning, use a timer, take breaks, create routines--but don't get so caught up in figuring out what to do that you waste a lot of time.
Get educated. Constantly learning is one of the best and most literal ways to 'work smart.' A high school degree won't get you much these days, with average earnings at $28,645. Those 
with a bachelor’s degree earned an average of $51,554, and those with advanced degrees earned an average of $78,093. Taking the time to get a degree can prove very beneficial. In addition to formal education, self-led education can be invaluable. Learning about running the small business you've always wanted to start, or figuring out the best investment strategy for yourself are great ways to start 'working smart.'
Keep your eyes open for new opportunities. On the job and in life, opportunities will come and go, and you've got to keep an eye out in order to catch them. Working hard and honestly at your job is one way to align yourself with these opportunities; you'll stand out above others around you. Having a long-term plan with goals is also a smart way to achieve success and wealth.
Get your money working for you. One of the best ways to 'work smart' is to get more work done during the 24 hours we are all alotted each day. There is a limit to human capacity, but money can work on your behalf 24/7 without fatigue, and it doesn't even charge you anything. Find ways to invest your money so it can grow while you work, and accelerate your path to wealth. On the flip side, avoid debt, because that money is working tirelessly against you.
How To Build a Financial Safety Net
This post was featured at Dollar Frugal.
Nothing will bring you greater peace of mind in an emergency than knowing you are financially secure. A financial safety net is often the difference between going into debt-sometimes life-changing debt-and keeping your head above water. Not only is this safety net vitally necessary, but it's within anyone's means; it only takes a little planning, a little discipline, and a little time. But where to begin? Financial planning can be quite intimidating, but far from impossible. Here is a step-by-step plan for your own financial safety net:
Step 1: Investigate insurance. Insurance is of the utmost importance because it can off-set or even prevent a financial emergency. If you have others who depend on you financially, it is important to have both life insurance and disability insurance. Life insurance provides income in the event of your death, and disability, should you become injured and unable to work. Check with your employer to learn what insurance programs are available. If you are self-employed, speak with an insurance expert at a company you trust to see what options you have.
Perhaps the most important insurance to have is health insurance. In the United States, health care costs are astronomical and can ruin you financially. Protect yourself, and protect your money.
Step 2: Lose the debt. What good is a safety net if you're already at rock bottom? Decide now that you've had enough of debt, and make a plan to eliminate it from your life. Begin by identifying areas where you can cut costs and save money. This could mean anything from cutting up credit cards, getting better rates on your insurance, downgrading to a more affordable car or home, etc.
Once you find ways to save, apply that money to your highest interest debt first. Once you pay that off, apply all that payment money to your next highest interest debt, and so on. Once you are debt free...
Step 3: Build an emergency fund. An emergency fund is money used for just that: emergencies. It is not for splurges and other expensive luxuries. This fund is an important aspect of your financial safety net, providing you with a chunk of money to be used when life throws unexpected and unpleasant surprises your way. Try to save 3-6 months worth of living expenses, or more if possible. This fund will keep debt at bay, and help to protect your assets and your credit score.
This money is best kept in a money market, where it can be accessed easily and quickly, and where it can earn a little money for you while it sits unused. Online money markets, such as through INGDirect or HSBC, offer you interest rates as high as 5% for keeping your money with them, helping to build your fund even faster.
Step 4: Invest for the future. The final step is building a safety net for your financial future: retirement, children's education, whatever that may be. Once your debt is controlled and your emergency fund in reserve, you can begin socking away cash for the future. Great ways to do this include contributing to your 401(k), a Roth IRA, 529 savings plans, and others. Research on your own, or talk with a financial adviser to map out a course for your future finances.
Completing these four steps will provide you with a financial safety net so you can feel secure...no matter what life throws at you.
Cheap Eats: Recipes for Around $1 Per Serving
This post was featured at A Pot of Gold.
Slow Cooker Pulled Pork Sandwiches
A quickly prepped, easy, and tasty recipe. It's also great for a crowd. If you get any of the ingredients on sale or make them yourself, the recipe is even more inexpensive.
Prep time: 5 min.
Cook time: 6-8 hours
Ready in: 6-8 hours
Servings: 6
Price per serving: $1.16
Ingredients:
1 (2 pound) pork roast
1 onion, sliced or chopped
1 18 oz. bottle of barbecue sauce
8 hamburger buns
Directions:
Place pork roast (frozen or thawed) and onion in crockpot. Pour bottle of barbecue sauce over roast. Cover and cook on low setting for 6-8 hours. Shred roast and mix well. Arrange hamburger buns inside up under broiler and broil until toasted. Spoon pork onto toasted hamburger buns and serve warm.
Check back for more inexpensive recipes for around $1 per serving!
What is APR?
This post was featured at DebtFree-Revolution.
APR...that ubiquitous number you see all over your junk mail and credit card statements. Although it's often in the fine print, it has big meaning for your money.
APR, or Annual Percentage Rate, is the amount of interest, plus fees, that you are charged for borrowing money. The APR is a way to compare what it would cost you to borrow money from different lenders. It is often different than just the interest rate, and represents the true cost of borrowing that money.
This is where the APR gets really important. The APR is a reminder that spending money you don't have doesn't come cheap. For example, if you charge $1000 on your credit card this month, and don't repay that money within the grace period, you will be charged interest and fees. Let's suppose those interest and fees total an APR of 20%.
If you choose to only pay the minimum monthly payment, usually 4% of your bill, you are going to continue getting charged interest and fees on that borrowed money. If you continue to pay only the minimum payment each month, it will take you over 7 years to repay that $1000! In addition to taking so long to be free of that debt, you will have paid over $500 dollars in interest...more than half of what you borrowed in the first place!
Your APR suddenly seems very imporant, doesn't it?
Cheer up...there is one way to be able to ignore your APR altogether: pay your credit card balance in full each month. If you haven't borrowed any money at the end of the grace period, you can't be charged any interest. Brilliant! Your APR could be 237%, but you wouldn't be charged a dime as long as you paid your credit card off every month.
And a few more important points about APR:
- Many credit cards offer low 'introductory' APRs. Be wary and read the fine print; the low rate will often jump to a high rate after a certain amount of time...sometimes as little as one month.
- There may be different APRs for late payments, cash advances, or for charging lower or higher amounts on your card (tiered APRs). Check the fine print for information on these as well.
- A good credit score will allow you to get a better APR, and a low credit score may stick you with sky-high rates.
- Sometimes your APR can change. If your APR is fixed, you will receive notice before this happens, but a variable rate can change without warning.
If you owe money on your credit card, use this calculator to figure out how much it's costing you and how long you'll owe that debt. Knowledge is power, and knowing about APR will save you time and money.
5 Smart Financial Moves for Teens
This post was featured at anja merret, Confessions of a Novice, and The Skilled Investor.
It hasn't been long since I was a teen. Now that I'm an 'adult,' there are many things I wish I had known and done during my high school years, particularly when it comes to money. Not only would starting then have given me precious time to sock away and grow the money I had, it would have given me invaluable practice for when I had more serious cash and obligations to deal with. Smart teens will take advantage of this time and make these smart money moves:
1. Learn the value of a dollar. This does not mean knowing that a dollar is worth 100 pennies. It means knowing what a dollar will buy, what it takes to earn money, and how to get the most from the money you earn and keep. This is the most essential step in becoming financially successful. Teens with no concept of the power of money are unable to make good decisions about what to do with it. A great way for teens to learn this is by getting a job and/or having to pay for things on their own. This will quickly teach them about the 'real world' of money.
2. Learn to save. This goes hand in hand with learning the value of money. Regularly saving money is a vital part of finances that seems to be going out of style here in America. Teens today must learn to save if they are to ever be financially stable. Whether a teen has a job or gets an allowance, they should be encouraged to save a set amount of all their income. When the time comes to make a purchase larger than a $15 DVD, she will be proud that she was able to buy it on her own.
3. Get a savings and checking account. This is the place to hold those regular savings. The purpose isn't so much to protect or grow assets, as it is to teach teens about how money moves around in the world, and how to keep track of it. It can also be the first lesson in investment as they learn that money can make more money, but not if it's sitting in a can on your dresser.
4. Get a credit card and learn how it works. Credit cards are a way of life these days. No teen should be deprived of the opportunity to use one while still under the watchful eye of an adult. Many naive college freshmen have racked up serious debt because they used their first credit card without a clue.
Teens would be wise to get a card with a low limit, make affordable purchases, and always pay off the balance due each month. This will help them to understand that credit cards are for building credit and protection of transactions, not for purchasing things you don't have enough money to buy. They will also quickly learn the consequences of late payments, as well as high interest rates, should they choose to only pay the minimum payment.
5. Get a Roth IRA and learn the basics of investing. Although teens may give you a glossed-over look when you say 'retirement,' learning to plan for their financial future while they are young is a very smart thing to do. They have the most important financial ally on their side: time. Learning about risk, the power of compounding, the plethora of investment options available and more will start teens down the right financial path early.
Consider opening a Roth IRA for a teen with a job. This will give them the chance to practice what they have learned about investing, and their little nest egg will grow tax-free over the next decade. Parents can give their kids an even greater advantage by funding part of their teen's Roth IRA, as well: match the amount the teen earned, or up to $5000, whichever is less.
Teens can really make some smart financial moves when given the guidance and opportunity to do so. Even if they roll their eyes about 'financial responsibility,' they will surely show some excitement at watching their money grow.
Today's Two Cents:
Lack of savings and too much debt are the biggest conflicts among couples.
--The Allianz Women, Money and Power Study, 2006
The Gross Net and Your Income
Gross? Net? What in the world do these words have to do with your money?
A look at your pay stub will show your pay divided into these categories: gross pay and net pay. Let's look closer at these seemingly unrelated terms.
Fix Your Finances in 15 Minutes a Day
Have you ever thought...
- Why is my credit card bill so high?
- I want to invest, but I don't know a thing about it.
- Shoot, my (car died, fridge broke, spouse got laid off, etc). Where will I get the money to pay for that?
- Everyone talks about retirement, but why does it matter to me now?
- I have so much debt, and I'm sick of it!
- I'm tired of living paycheck to paycheck.
- How can I earn more money?
- I need to spend less money.
- How in the world do I get ready for retirement?
- Why is it that the more I spend, and the more stuff I get, the worse I feel?
- I owe so much money, and it's overwhelming.
- When I see everything that those around me have, I feel poor and deprived.
- I wish someone could just tell me what is best to do with my money.
Many of us think these thoughts every day. Our money is our enemy, rather than our friend. It is our greatest source of stress, and even fear. Our finances are out of control, and we lack the will and education to change that. Well, no longer! You--yes, you!--can whip your money into shape! You can make it work for you, rather than against you. You can learn to let go of your fears and preconceptions about money...the very things that are keeping you from becoming wealthy. And we can help you!
Our simple SYSTEM will Save YourSelf Time, Energy, and Money. We'll send you emails with simple steps to guide you to financial security. We make it easy by coming right to you. Each step takes less than 15 minutes...you have 15 minutes today! Go for it! In less than the time it takes you to eat breakfast, you could be on your way to solutions to the problems above. What have you got to lose? Only fear, stress, and worry.
This year, resolve to fix your finances! Together, we can do it.
Become Your Husband's Hero
This post was featured at Mom Is Teaching.
How can you become like Michael Jordan or James Bond in your husband's eyes? You may not have an amazing vertical leap, but you have what it takes to really 'wow' him. How can you become your husband's hero? Make smart moves with your money. Nothing will impress him more than showing him how you are using your money to make your lives easier and more rewarding. Here are three things you can do that will have your husband saying, 'You're my hero!'
Start saving regularly. It's been said that a woman can spoon more money out of the house than a man can shovel in. Basically, don't fritter away money...try to hang on to it! Women do more than 80% of the discretionary spending in the US, and thus, you have the power to save money by not spending it.
It's true that you must spend some money, but ask yourself (and answer yourself honestly) if you really need to spend all that you do. Your (honest) answer will be 'no,' and so you will be able to save at least a bit of money each month. To make it even easier to save, set up an automatic deposit into a savings account each month (just call your bank, or check online.) You won't even notice that the money is gone if you never see it.
Even if you can only save $50 a month, by this time next year that will be $600! $600 that you didn't have saved before! If you can save even more, you will be that much more delighted to report to your hubby that you have a nice chunk of money socked away. And when you tell him, he will probably look pleasantly surprised, dumbfounded, or just haul off and kiss you.
Create a retirement plan. A goal is just a wish until it's written down, and your retirement is just a dream until you have a plan. Take the time today to ponder what you want when you retire. Each time you are waiting at a stop light today, ask yourself, 'What is going to happen when I retire?' Later, write down the things that matter most to you, and what it will take to get them(example: I want to take one trip per year, so I will need $6000 set aside per year for travel.)
Next, look at the total needed for your retirement. Then decide how you will get to that total. Will you save up the entire amount? Will you save some and invest for the rest? Will you accumulate a part of it and work part time in your retirement? The options are as diverse as the retirees. Once you have your retirement plan outlined, pursue it!
Create an investment plan. This one will really blow him away. Use the money you are now regularly saving to invest as you see fit. What is more wonderful than earning money without having to actually do any work? That's right; make your money work instead!
If you don't know a thing about investing, don't be scared. You can be a great investor. You just need to learn a few things to do it. A great place to start is a website called The Motley Fool. Click on their 'Investing' tab, then 'Basics,' and start reading away! If you prefer something more hands-on, pick up the book 'Investing For Dummies' by Eric Tyson. Both of these resources will give you a great start.
Do a bit at a time, no need to be rash. Just telling your husband that you plan to begin investing will delight him, and when you have your plan in motion...well, he'll probably be kissing your feet in adoration!
If you don't have a clue where to start, but really want to be a hero to your husband (and yourself!), sign up for our system and get step-by-step guidance for your money. Just like that, you're on your way to being a real Super Woman.
Personal Finance Fun!
One of our posts has recently been featured on the Carnival of Personal Finance, which was held this week at a blog called The Digerati Life. What is a 'carnival,' you ask? Well, my friend, it's pretty great, is what it is! A carnival is like a blog magazine online. There is a subject for the carnival, and then bloggers can submit posts they have written about that subject. It is a great way to find lots of articles about a certain topic in one place. And it's fun! For this carnival, you will find a myriad of posts about personal finance to choose from, so one is certain to strike your fancy. It's also a great way to learn new things about finance, and we're always a big fan of that! Enjoy!
Retirement Savings: What If You Get Divorced?
Plans for retirement don't usually include a divorce. Thus, most couples that go through this unfortunate split often don't have a clue about what happens to the money that has been accumulated over the years. Divorce is a tragedy in any case, and can wreak havoc on a couple's finances. For this article, we'll focus mainly on what to do with what has been saved for retirement. (There are many things relating to divorce and money that should be addressed, but we'll talk about those another time.) Sometimes the retirement savings can be a substantial amount, and make a serious difference in the lives of both spouses. For this reason, it is essential to have a lawyer who is familiar with this type of law.
By law, each spouse is eligible for 50% of retirement savings, regardless of who contributed the most. These savings are considered a marital asset. Divorcing couples will need to agree on the value of the retirement assets to proceed dividing them up. A good lawyer will help with this. While the dividing of retirement assets is negotiable, women often give up all of the assets in exchange for the home. Each situation is unique, and this may not always be in the best interest of the woman. Sometimes it is more beneficial to procure part of the retirement savings rather than the whole house. Spouses should consider their immediate and long-term needs and assets, and work with their lawyer from there.
Many divorcing couples worry about paying penalty fees to the IRS for moving their retirement savings around. Luckily, there is a court order designed for this situation. A Qualified Domestic Relations Order is used to transfer money from one spouse's employee retirement account to the other spouse. It can be used to put the money into the spouse's IRA, or--for those with more immediate needs--transferred directly to the spouse to be spent as needed. The IRS 10% early withdrawal penalty does not apply, but the usual taxes still do.
Retirement savings can have a big impact on a divorce. With a good lawyer and the many policies already in place, the money can be divided in a manner that is best for everyone involved.
