Finance Friday: 50 Gifts That WON’T Break the Bank

1. Disposable cameras: Young children may be too young and seniors too old to deal with digital cameras. A disposable camera with prepaid development envelope allows them to catch the excitement of Christmas Day.

2. DVDs: New or used, there’s a special movie DVD out there for everyone. You can pick up a used DVD at DVD4Music.com for less than $5.

3. Magazine subscriptions: Buy one subscription to a magazine and you often receive a second subscription for free. Subscriptions also are provided as freebies or at a greatly reduced price for filling out survey forms, subscribing to online newsletters, etc. If the recipient really loves the magazine, you’ll have an evergreen present that can be repeated year after year. Magazines.com is just one place you can find subscriptions to a wide-variety of magazines for less than $10.

4. Special events: Instead of heaping presents under the tree, buy tickets to a special event tailored to your recipient’s tastes and spend an entire day or evening with them.

5. Discount gift cards: A $20 gift certificate needn’t cost $20 anymore. Check comparison-shopping gift card web site GiftCardGranny.com, for discount gift cards and save anywhere from 5 to 50 percent on gift cards.

6. Books: The right book will provide hours of enjoyment and almost any book can be purchased online. Christmas price wars have seen prices on popular titles tumble to $10 or less. Cookbooks are welcome in many households and will be on hand for many years. You can find like-new books at cut-rate prices on Amazon.com. Just click on the “Used” button for each book’s page.

7. Dress-up boxes: Clean out your closet and visit your local thrift stores to create a dress-up box for the young children in your life. You can include the ingredients for everything from superheroes to a princess, depending upon the preferences of the child.

8. Personalized calendar: Bring rare and treasured family photos and a list of important dates (i.e. birthdays, anniversaries, etc.) to your local copy shop. They’ll whip-up unique calendars for your entire family. Just be sure to begin the project early. You can also create calendars online with a minimum of fuss at FedEx Office.

9. Coffee or tea: Combine gourmet coffee with a personalized mug or a teacup with herbal teas.

10. Gourmet chocolate: Chocoholics always appreciate quality chocolate bars wrapped in a ribbon.

11. Wine or sparkling cider: You can find good wines for less than $10 a bottle these days. Sparkling cider makes a good substitute for those who don’t drink or if you’re uncertain of the recipient’s preferences. Slip the bottle into a nice bag from the dollar store to dress it up.

12. Food: You can rarely go wrong with food, although it’s best to avoid the monthly club gifts, which are expensive and don’t always deliver on quality products. On the other hand, gourmet popcorn, a pound of pistachios, homegrown herbs and such may never make it home.

13. Frame your child, brother’s, sister’s artwork: What grandparent wouldn’t love a nicely framed piece of their grandchild’s artwork. It’s fascinating how much more professional a child’s work looks in a nice frame. Your child will enjoy having their work appreciated for many years.

14. Frame a photo of yourself, your family or an event important to the recipient. Picture frames measuring 5×10 or less are fairly inexpensive and you can reprint photos for 50 cents to $2.

15. Flashlight with batteries: This may not seem very “gifty,” but the recipient will bless you the next time the lights go out.

16. Reusable shopping bags: Most grocery stores and many big-box stores sell reusable shopping bags for $1 to $3 a bag. Pick up five of them for the perfect eco-chic gift.

17. Restaurant.com gift certificates: A $25 restaurant gift certificate usually costs $25, but restaurant.com holds frequent sales that allow you to purchase a $25 certificate for as little as $5-$10.

18. Road atlas: Your traveling friend or family member may already have an atlas, but chances are it’s gotten pretty tattered over the years. A new atlas also includes the latest information on roads. A small world atlas that can be tucked into a suitcase comes in very handy for world travelers.

19. Staple-less staplers: Perfect for the home or office, these staplers never need to be refilled. If the gift recipient is a fan of the movie “Office Space,” make sure the staple is a bright red.

20. Hiking guides: Pocket-sized trail books are now available in many areas, making this an excellent gift for those who love to hike. The guides provide maps to well-known and out-of-the-way trails, along with useful information about the area.

21. Rechargeable batteries and a recharger: Not only is this a fairly inexpensive gift but it will save the recipient money throughout the year.

22. Water bottle: Know someone with a costly bottled water habit? Buy them a high-quality water bottle and help them break the habit. Nalgene 1-quart BPA-Free Water Bottles are very popular with kids and are priced from $7-$14.

23. Membership to a museum or zoo: A good gift for one person or a whole family, memberships usually cover entrance fees as well as special, members-only events. Choose a museum that belongs to the Association of Children’s Museums or the Association of Science-Technology Centers and the recipients will also get free admission to hundreds of other museums across the U.S. and abroad.

24. Christmas ornaments: There’s such a wide variety of ornaments available it’s fairly easy to match a gift recipient’s interests to an ornament. You’ll find ornaments to match every hobby, animal, breed of dog and cat, musical instrument and more in boutique shops. Most cost under $10. Alternately, you or your children can decorate solid-color or clear-glass ornaments with glitter glue, holiday stickers or craft paints.

25. Plants: A low-maintenance plant for the office or window can make a fun gift, but make sure the recipient has a green thumb and won’t resent having to care for the plant.

26. Sachets: Sachets that keep clothes smelling good used to be very popular, but they seem to have gone out of vogue as a present. Why not restart this trend? You’ll find them in the homewares department of stores or at such stores as Bed, Bath & Beyond. An easy sachet for children to make is an orange stuck over the entire surface with cloves.

27. Golf ball monogrammer: Make a duffer’s life easier with a self-monogrammer that makes it easier to identify his golf balls. These make excellent business gifts. Prices start at $10 for a Wilson monogrammer.

28. Record yourself: Long-distance grandparents might make a DVD of them reading a book or telling a story to their grandchild. This works in reverse as grandparents always love to see their grandchildren at play.

29. Board games: Board games have rapidly increased in popularity, which means the number of games has also increased. Look past Monopoly and Clue for games that suit the gift recipient’s interests and skill level. BoardGameRatings.com provides reviews, game breakdowns and pictures so you can assess a game without opening the box.

30. Movie tickets: A pair of movie passes or a movie gift card make good gifts for film fans who can’t afford the cinema anymore. Get AMC Theaters gift cards at a discount.

31. Book gift pack: Gather some books you have already read and enjoyed but don’t want to keep and pack them together with a ribbon. An unread book is a sin.

32. Car wash kit: For the car lover, create a kit for washing the car with a sponge, tire brush, bug remover, car soap, etc.

33. Electronic money jar: This handy jar counts change as it’s deposited. Children can watch money add up every time they put coins into the jar.

34. Snuggies: Much derided in the media, Snuggies truly are cozy and can help reduce heating bills. They’re on sale during the holidays at many web sites and in most large-box and department stores. Target carries cute costume Snuggies for children, beginning at $16.

35. Candles: Some people are candle addicts and can never have enough. Others can make do with one candle for blackouts. Make sure you know which category the recipient falls into before giving them a candle. On the plus side, unique and good-smelling candles are available everywhere for less than $10-$15.

36. Earrings: Keep an eye on your girlfriend’s ears. What kind of earrings does she wear? When you hit the Christmas holiday bazaars, look for similar earrings, usually the least expensive item for females at these fairs.

37. Reusable coffee filters: Save your favorite java junkie time and money with a reusable coffee filter. Maybe now she can splurge on some better beans. Prices for various sizes of filters at Amazon.com start at $9.

38. Coffee-bean grinder: Even if they only use it on weekends, coffee addicts will enjoy the fuller flavor of freshly ground beans. The popular Krups grinder can be found at Amazon.com for $18.

39. Mini-mixers: These compact mixers are useful for making pesto, chopping onion or mixing up smoothies. The very popular Black & Decker One-Touch Chopper sells for just $13.50 at Amazon.com.

40. Dish towels and dish cloths wear out rapidly in a busy kitchen. Make note of the cook’s color scheme and make sure you match it. If you’re not sure, white always works.

41. Angled measuring cups: So much easier to read, the inexpensive, angled measuring cups ensure measurements are exact without squinting. Comes in three sizes from a variety of manufacturers. Oxo makes the most popular cups with their Good Grip technology, starting at $6.

42. Kitchen thermometer: Is your mother or grandmother still using the kitchen thermometer she bought in her 20s? Replace that faded relic with an electronic kitchen thermometer featuring easy-to-read dials, shatter-proof clear lenses and a remote beeper, among other options.

43. Heat-resistant silicone spatula: Heat-resistant silicone has revolutionized the modern kitchen. One item useful to all cooks is a silicone spatula that can withstand 600 degrees or more, depending on the brand.

44. Homemade cookie mix: Mothers too busy to bake during the holiday will appreciate homemade cookie mix with instructions for baking. They can just pop the cookies in the oven for a special treat and to fill the home with that delicious holiday smell.

45. Microplane graters: Replace your mother’s rusted old grater with a microplane grater and she’ll sing your praises every time she uses it. These inexpensive graters speed up food preparation and reduce wear-and-tear on the knuckles. At $12, the Microplane Grater/Zester is an invaluable tool and stores easily.

46. Olive oil sprayers: With so much focus on eating healthy, these kitchen oil sprayers come in handy to reduce the amount of oil used in cooking and on salads. The Misto aluminum sprayer receives the best rating from cooks and runs around $10.

47. The Joy of Cooking: For the new cook, this is the basic bible. Like-new used copies of The Joy of Cooking starting at $12 or used for as little as $5.

48. Latte frothers: When your espresso machine has no umph left in its frother, a hand-held milk frother takes over. Also useful for those without an espresso machine. The BonJour Primo Latte Frother is priced at $19, comes with a stand and works when you need it to work.

49. Collapsible colanders: Colanders are a pain to store since they don’t nest well with other kitchenware. Most collapsible ones are both stain and heat resistant. If you want to pay a bit more, the Norpro Silicone Collapsible Colander at $14 will stand the test of time.

50. Chopping mats: Avoid cross-contamination in the kitchen with chopping mats specific to the type of food being preparing. These mats can be found anywhere kitchen prod, roll-up for easy storage and come in a variety of styles and colors.

Joblessness in America: What you can do to weather the storm.

The unemployment rate rose from in October from 9.8% to 10.2% according to U.S. Bureau of Labor Statistics.  Some studies estimate the rate is actually upward of 17.5% of Americans unemployed. With out questions, America is facing an economic crisis only comparable to the Great Depression. As we enter the holiday season, rest assured that each and every family in this country has seen and felt the effects of people they love being unemployed, scared and unsure what their future holds.

Here are a couple tips on how to ride out this storm and keep your financial house in order. Remember, unemployment is temporary. The following tips will help you hold onto what resources you have and survive this financial crisis.

Important things to remember:

• Don’t panic. You can still control your financial situation, if you plan carefully.
• Communicate. Analyze what is important and decide on a plan of action.
• File a claim for unemployment insurance right away.
• Don’t default on payments. Go to your creditors, explain your situation, and work with them to make adjustments.
• Be prepared to change your standard of living, at least temporarily, so you don’t have to give up essentials.

Talk to your family about the situation. Let family members know what decisions must be made. Talk about what is important and what is not so important.

Talking with each other helps the family share concerns. If they understand what choices are available and what actions are necessary, they will be more willing to help.

File for unemployment benefits. Take your social security card and go to the unemployment office or location nearest your home as soon as possible. They will help you file your claim. If there is a waiting period between the time you apply for unemployment benefits and the time your check begins, you may be eligible for public assistance. Also, if you are not eligible for unemployment benefits or if your unemployment benefits run out before you find another job, you may be able to get public assistance.

Evaluate the ways your family uses money. Many times people buy things, not because they need the things, but because they want to spend money. Now is the time to tighten the purse strings and eliminate needless spending. Do you see yourself in any of the following examples?

• Do you have a “get even” philosophy? In other words, do you feel you deserve to buy something for yourself just because someone else gets something new?
• Do you buy things you don’t really need now because you think, “tomorrow it may cost even more?” Or because “we might be even less able to afford it later?”
• Do you use money to bribe or reward others? Or do you withhold money as punishment?
• Do you spend money as a way to work off frustration or to relieve boredom or anxiety?

Now is the time to abandon these self-defeating spending habits! One of the most difficult things about being unemployed is to realize you cannot spend the way you did before. Pretending to yourself and to others that nothing has changed will not make things easier. Spending less is a must.

All fixed expenses, such as rent or mortgage payments, installment payments, insurance premiums, and other payments due on a specific date must be paid. Cutting out waste and unnecessary purchases can reduce other expenses, such as for food, clothing, and recreation.

Take a financial inventory. Look at what your family now owns. A few minutes spent calculating your family’s net worth just might boost your spirits. Add up the total value of all your belongings and subtract from that total the amount you owe. Remember to figure the value of everything at today’s market prices, not the price you paid for it. In other words, how much could you sell it for?

Find ways you can cut corners. To do this, you must know exactly how much money you have coming in and going out each month. Use all your check stubs and receipts to list your fixed expenses (housing, insurance premiums, taxes, installment payments, and other debts). Then estimate what you spend on food, clothes, school, gifts, and other expenses. You may find that you don’t have a clear picture of where the money is going. If that is the case, try the following plan:

• Cut down on your spending.
• Make a list before going shopping and weigh the importance of each item before buying.
• Write down everything you spend money on for two to four weeks.
• Reduce the number of shopping trips you make.
• Plan ahead for big bills, such as insurance payments.
• Agree with your family that every purchase over a certain amount, say $50 or $100 will be brought to the family for discussion before buying.

Talk to the people you owe money to. Don’t ignore bills or you may lose what you already have. Immediately contact your creditors: the finance company, bank, credit union, and department stores. Make an appointment to explain your problem.

Don’t forget to work out a way to handle your monthly mortgage payments. If they are too high for you to pay, go to your lender and explain. Ask the officer in the mortgage-lending department to permit you to pay only the interest for a certain period of time. Or perhaps you can postpone one or two payments until you have pulled yourself out of your financial crises.

The important thing is that you talk with your creditors about your problem and come to an agreement about what you can do and keep from losing what you have.

Examine your insurance policies. Chances are that you were insured under your former employer’s group health plan. If you were, the Comprehensive Omnibus Budget Resolution Act (COBRA) of 1985 provides you the opportunity to continue group health insurance for up to 18 months after you have been laid off. You will need to apply for this. You will have to pay the premiums but you have 18 months to find other insurance. If your former employer provided you with group accident and life insurance you will probably have a 30-day period from the day you left the company to reapply for an individual policy with the same insurance company without having a medical examination. The premiums for an individual policy will probably be higher than the premiums you paid for the group policy. But you need insurance now perhaps more than ever.

In many life insurance contracts there is a so-called automatic premium loan clause. This clause says the company will use your dividends to pay your premiums or will deduct the premium payments from the cash value of your policy. Check your permanent life insurance policies or call your agent as soon as possible to see if you have this clause.

When you need cash, you may need to decide whether to withdraw some of your savings or to make a loan. What you decide will depend on your individual circumstances, but there are disadvantages either way.

• When you take money from your savings account, it will no longer earn interest.
• If you take out a loan, you will pay interest for using someone else’s money.

One solution might be a passbook loan that is a loan against your savings. You’ll lose interest on your savings account and pay 1-1/2 to 2 percent interest in addition, but the total cost might be less than the interest charged for another type of loan.

If you decide to withdraw money from your savings account, take the money from a regular account first and leave any certificates of deposit untouched. You’ll lose interest (early withdrawal penalty) on the certificates if you cash them in before they mature.

In any case, think very carefully about taking on additional debt while you’re unemployed.

If you find you need outside help, turn to social agencies. Several programs, such as Food Stamps and Medicaid, are available for families needing financial aid.

Contact the Department of Children and Families’ Food Stamp Office of to find out if you are eligible. Your family’s resources and family income determine eligibility.

When you apply for the Food Stamp Program, take with you your rent receipts or housing payment book, utility bills, proof of medical bills (doctor, hospital, etc.), and proof of income for all working members of your household, including all benefits such as Social Security and public assistance, bank books, or any papers showing what you have in savings.

Finance Friday: Confessions of a Reformed Shopaholic (Part 5)

 5) Restaurants, and going out

I hate eating out. Why?  Because, I just paid a ridiculous price for something that may or may not have been worth it, and all I have to show for it is my amazing jeans, now slightly tighter. Plus, that glass of wine I paid $12 dollars for is on sale at Harris Teeter for $14.99. Total outrage.

Eating out can be fun, convenient and a great escape from the dishes. But why not try to cook an interesting and host a fabulous casual dinner party with friends. Plus, you will wind up eating much healthier eating in. And cut out the bar tab at your local watering hole, ask everyone to bring their favorite bottle and host your own dance party in the living room.

Bonus tip – to whet your appetite for next week’s Finance Friday tip, I will give you a little homework. Visit my website to sign up for my Borrow Smart America program. You can’t expect to become a reformed shopaholic until you start getting smart about the financial education system and about your own financial situation. Complete the free online program and you’ll not only learn how to save, budget and repair your credit, but you’ll also qualify for a free gift – Quicken Software donated to us by Intuit to help your reformation transformation.

Finance Friday: Confessions of a Reformed Shopaholic (Part 4)

4) Credit Cards

I got my first credit card on my way into a University of Georgia football game when I was 19. MBNA was giving away free t-shirts to every person signing up for a new card. Two years later, I still had that UGA t-shirt, along with an amazing wardrobe and a credit card balance of $4,000.

Lucky for me, I was able to pay off that hefty debt, but, there was a point, during which I was barely paying the minimum balance, which happens to be a recipe for disaster. Credit card companies love to make credit easy for you to get and will often extend your line of credit, “as a courtesy.” Well, how nice of them. Now they can raise your interest rate and really make you pay.

Tips from a Reformed Shopaholic:

1. If you carry a balance; never, only pay the minimum balance.  Make paying your balance off your highest priority.
2. Call your credit card company and ask them to lower your APR.  Odds are they will. If they don’t shop around and find a card that allows you the transfer your balance with a 0% or low APR.
3. You do not need more than one credit card, period. Pay those store cards off and cut them up. You are totally over it.

Bonus tip – to whet your appetite for next week’s Finance Friday tip, I will give you a little homework. Visit my website to sign up for my Borrow Smart America program. You can’t expect to become a reformed shopaholic until you start getting smart about the financial system and about your own financial situation. Complete the free online program and you’ll not only learn how to save, budget and repair your credit, but you’ll also qualify for a free gift – Quicken Software donated to us by Intuit to help your reformation transformation.

CFEF to Host Financial Eduation Night At Newark Bears Baseball Game August 31

On August 31, the Bears present Community Financial Education Foundation Night at Bears & Eagles Riverfront Stadium in Newark, NJ. The Community Financial Education Foundation will host a financial education booth on the concourse in a community outreach effort.

Trivia questions with great prizes will be part of the evening’s fun as well as the Bears vs. Revolution game beginning at 7:05 p.m.!

To purchase tickets, visit ticketmaster.com or call the Bears Box Office at 1-888-85-BEARS (1-888-852-3277).

For driving directions to the stadium click here.

Financial Education Night at Newark Bears Baseball Game

Finance Friday: Confessions of a Reformed Shopaholic (Part 3)

3) Car buying

Never lease or buy new. I am a firm believer in getting a slightly used vehicle with a little mileage and a couple years left on the warrantee. Let the “new car” buyer take the depreciation hit when they drive it off the lot. You will enjoy lower monthly payments and a nice car.

Bonus tip – to whet your appetite for next week’s Part II, I will give you a little homework. Visit my website to sign up for my Borrow Smart America program. You can’t expect to become a reformed shopaholic until you start getting smart about the financial system and about your own financial situation. Complete the free online program and you’ll not only learn how to save, budget and repair your credit, but you’ll also qualify for a free gift – Quicken Software donated to us by Intuit to help your reformation transformation.

Finance Friday: Confessions of a Reformed Shopaholic (Part 2)

Tip 2)  Invest in Real Estate

As a military spouse, your life may seem like a never-ending stream of moves. Once you and your hubby get settled in a place and will certainly be there for the next three years, take the plunge and buy your own place. Renting is convenient and has that no strings attached feeling. But, consider every month you write that rent check as you paying your landlord’s mortgage and giving him a couple extra clams each month to take his kids to the movies. Plus, there are great tax advantages to owning a home. If you don’t understand this now, take the time to learn more about it because it will cost you more by not knowing.

Tips from a Reformed Shopaholic:

1. Play it safe. You may be able to afford that larger house with the garden tub, but don’t. It is not worth it. Buy a condo or starter home that is not going to leave you strapped at end of each month.  Plus, if you move, that home will be a great rental house – which means someone else pays your mortgage and you build equity.
2. ONLY use a 15 or 30 year fixed mortgage product. ARMS, Balloons, and all that other trash may sound tempting, but we have all learned what they do to people. Hello, Housing Crisis!

Bonus tip – to whet your appetite for next week’s Finance Friday tip, I will give you a little homework. Visit my website to sign up for my Borrow Smart America program. You can’t expect to become a reformed shopaholic until you start getting smart about the financial system and about your own financial situation. Complete the free online program and you’ll not only learn how to save, budget and repair your credit, but you’ll also qualify for a free gift – Quicken Software donated to us by Intuit to help your reformation transformation.

CFEF to Host FREE Financial Education & Money Management Workshop in Houston

Houston Financial Eduation & Money Management Workshop Invitation

Finance Friday: Confessions of a Reformed Shopaholic (Part 1)

My journey in life has taken me many places in 29 years. I have been small town drama queen, a broke college student, an underpaid young Capitol Hill staffer, a wife and finally a newly single young professional starting over again. One constant theme has been making the most of my limited means and living well along the way.

Over a year ago, I started the Community Financial Education Foundation (CFEF), a non-profit dedicated to educating the Americans by teaching meaningful financial life skills and encouraging positive financial behavior. With little knowledge of financial matters and questionable financial behavior of my own, I knew starting this was going to be a challenge in many ways and it all started with changing my own financial behavior.

The phrase “knowledge is power” is one of those cliché terms that annoying online college commercials used to dupe us into earning our Associates’ degree in Fashion Merchandising. However, after a year of researching the ways credit cards work, discovering the meaning of “compound interest” and paying off all personal debt (sans my 2006 gas guzzler), I understand the meaning of the phrase and can offer you ten smart tips for Finance Friday.

Over the next 10 weeks, I’ll bring these tips to you in 10 installments. Be sure to check back each week for tips that will bring you one step closer to smarter savings and better money management.

Tip 1) Find a financial adviser, invest and plan for retirement.

This may seem like questionable advice, considering the current state of the markets. However, seeking expert advice and investing in individual retirement accounts (IRAs) can pay off lucratively – over the long-term. You should always balance your investments with an IRA or Roth IRA. These retirement accounts allow you to invest after taxes (traditional IRA) or before taxes (Roth IRA).

But, remember, these accounts are INDIVIDUAL Retirement Accounts. A huge mistake I made was allowing my EX to invest our savings into a Roth IRA. Sounded like a great idea at the time. During the big D, and don’t mean Dallas, I learned my name was nowhere on that account and I was out $3,000. Young, dumb, and stupid.

Bonus tip – to whet your appetite for next week’s Finance Friday tip, I will give you a little homework. Visit my website to sign up for my Borrow Smart America program. You can’t expect to become a reformed shopaholic until you start getting smart about the financial system and about your own financial situation. Complete the free online program and you’ll not only learn how to save, budget and repair your credit, but you’ll also qualify for a free gift – Quicken Software donated to us by Intuit to help your reformation transformation.

New Foundation Tackles Financial Literacy Issues

Washington, DC.  – The Community Financial Education Foundation (CFEF) announced today that it will begin offering services and programs designed to assist consumers with financial education development. CFEF was created specifically to address the growing need for financial literacy programs within the broad spectrum of consumers desiring help in understanding and managing their finances.

The mission of the Community Financial Education Foundation is to work with leaders of the online lending industry to assist national, state, local and community groups with the on-going task of education consumers of all ages about personal financial management and independence.

“We are excited about the prospect of helping people understand more about their finances and the importance of credit” commented new Community Financial Education Foundation Executive Director Miranda Harwell. “We believe financial literacy is absolutely vital for individuals and families. We are going to help however we can.” she added.

CFEF will be actively soliciting participation from America’s National Banks and their corresponding bank partners thus providing a resource for expanding operating capabilities and developing additional financial education programs.

For more information, please contact Miranda Harwell, Executive Director at (202) 629-0363 or visit our website at http://www.communityfef.org/index.php