Sunday, March 08, 2009
News, In this Issue...
Hints for Hard Times
Some businesses can save you money and bring you happiness, even if you’re broke
Atlanta-based consumer guru Clark Howard
Basic money-management principles
Consumer Credit Counseling Service of Greater Atlanta offers these tips:
- Spend less than you earn.
- Have an emergency fund that covers six months of living expenses in an account you can access if you need it.
- Pay off and stop using your credit cards.
- Be prepared for the unexpected—have the following in place:
- Insurance, to protect your home and other large assets.
Savings, to cope with a loss of income until you can replace those dollars.
- Employment, Keep your resume up to date. You can’t always plan for a job loss, and good preparation will help make the search for a new job easier.
- Retirement: Contribute to your financial future, even if it’s just a few dollars per pay period.
- A will to protect your loved ones
- Health care: If at all possible, ensure that you have medical coverage for yourself and your family at all times.
Source: www.cccsinc.org
By Diane Loupe
I’ve been a semi-employed, stay-at-home mother since late 1999. I earn a few bucks by freelance writing or substitute teaching, professions that are in no danger of making me rich, J.K. Rowling aside.
And yet, though I may not wear Oscar de la Renta (unless I found it at a thrift store), my credit is excellent, I’m in no danger of defaulting on my home mortgage, I own and manage a rental property and credit card offers fill my mailbox.
My main secret is a husband who earns a decent, but not Buckhead-enviable, salary. But a stable paycheck isn’t the only secret to living well on a budget.
If you’re squeaking by, here’s some advice from reputable local sources that could help you live better on less.
Entertainment
When you’re on a budget, you gotta separate essentials from luxuries, and entertainment (sorry, Hollywood) is a luxury. That doesn’t mean a life of perpetual boredom: It means finding stuff to do that is cheap or free. Watch the latest movies when they come out on DVD, and use entertainment listings to find free concerts. I stretch my entertainment dollar further by purchasing memberships to the places my family and I enjoy visiting, like Zoo Atlanta, the High Museum of Art or the Georgia Aquarium. Right now, Six Flags Over Georgia is offering season passes for $49, just $10 more than the admission price you’d pay at the gate for a family of four.
For $25 per year, an Arts Card (www.artscard.com) gives you a shot at free passes to movie screening and shows, discounts on local arts and cultural venues, and invitations to special events.
If you enjoy art and people-watching, you can’t beat an evening of gallery-hopping. Galleries usually pour free wine and offer free snacks at openings. I brushed elbows with Elton John at one opening, a fact that still impresses my teenage kids. Local newspapers list gallery openings; you can also get on the mailing list of your favorite.
Restaurants are so desperate for your business, they’re making deals. Why not take advantage of them? Half Off Depot (www.halfoffdepot.com) offers good deals on upscale and budget restaurants, as well as spas, concert tickets, pubs, clubs and bars. (Full disclosure: Half Off Depot is a sister business of The Sunday Paper.) If your favorite restaurant isn’t there, check its Web site to see if it’s offering any deals. For example, if you enjoy Pricci, the Atlanta Fish Market or any of the Buckhead Life restaurants (www.buckheadrestaurants.com), you can purchase gift cards and get 20 percent more for your purchase.
If you like to read, you already know about your local library. You can also recycle your used books and CDs through a Georgia-based company called Paperback Swap (www.paperbackswap.com). You get credits for mailing your books to someone else, and the site lets you buy and print postage from your computer, so you don’t have to wait in line at the post office. Then you can use your credits to shop for posted books.
SHOPPING
I rarely buy new clothing, because I can usually find stuff at thrift stores and garage sales. But you have to learn to control yourself: Buying something at a bargain really isn’t a bargain if it doesn’t fit, isn’t repairable or you won’t ever wear it. Always have cash when garage-sale shopping, try to negotiate a lower price and be sure to make the seller prove to you that something is working before you buy it.
Everybody knows that thrift stores have deals, but did you know that even thrift stores sometimes have sales? The Last Chance Thrift Store chain (www.lastchancethriftstore.com) sells everything in the store for half price on Mondays, which makes shopping on that day awfully crowded. Thrift stores are getting hit pretty hard by this economy, so clean out your closet (you know you’ll never fit into those pants again) and donate those unused items for store credit or a tax break.
The very best deals can be found in thrift stores in more affluent neighborhoods. My fave? At the Nearly New Shop on Howell Mill Road, run by the Junior League of Atlanta (www.jlatanta.org/nearlynew), you can find designer brands—Oscar de la Renta, Kate Spade, Ferragamo—at absurdly low prices (it also sells used books at great prices). Get on the mailing list for information about regular half-price sales. Another jewel in the rough is the thrift shop run by the Cathedral of St. Philip at 1837 Piedmont Road (www.cathedralofstphilip.org).
For a better selection of items at higher (but below retail) costs, try consignment stores. Or, better yet, see if you can earn some cash from your good-condition and still stylish clothing. Finders Keepers in Avondale Estates (www.finderskeepersconsignment.biz) offers furniture in addition to clothing and other goods. My teenage daughter loves shopping Little Five Points’ Rag-O-Rama (www.ragorama.com), which carries an eclectic collection of used and new threads that appeal to urbane hipsters.
KID STUFF
If you’re raising children on a budget, get yourself linked into the network of consignment sales in the city. Visit www.kidsconsignmentsales.com, and ask some other moms in your area about good sales and see if you can get yourself a seller ID number. In exchange for putting up some gently used children’s items for sale, you can get a preview ticket to the sale. You won’t be able to bring any children to the preview, but you’ll get first crack at the clothing, books, toys and other items at these semi-annual events. Bring a laundry basket for your purchases and expect to spend some time shopping. Be cautious of buying anything that might have lead paint or loose parts, or any safety-related item, such as car seats or bike helmets.
FREE STUFF
The four-poster bed in my bedroom, the blender on my counter and my fax machine all cost me the same thing: nothing. That’s because I’m a member of an e-mail network called Freecycle (www.freecycle.org). The objective of all Freecycle groups is to keep stuff out of the landfill by giving it to people who might need or use it. You can get rid of unwanted household items and ask for items that you might need. You must follow the group’s guidelines, including keeping your offers and wanted postings in balance.
You could furnish an entire apartment from stuff that’s been left out on the curb, and I’ve been known to stop and throw items into my minivan. If I can’t use it, I post it on Freecycle.
Instead of throwing away things that are broken, why not fix them? Paint and glue are relatively inexpensive ways to add new life to a broken chair. A tube of Shoe Goo can extend the life of a pair of tennis shoes. Talking to the staff at your friendly local Ace Hardware store will get you advice on how to fix, replace or paint just about anything.
As a homeowner, if I’m going to spend a lot of money on something, I want to cut through the bull and find someone who’s going to do a good job for a good price. And that means shopping around. Check with your network of neighbors, friends, co-workers and church members to get recommendations for handymen, mechanics, accountants, etc. I’m also a fan of Kudzu (www.kudzu.com), which allows users to give quality ratings to service businesses. I do my homework and always try to get several estimates before choosing a service provider.
Web sites with budget advice
If you’re truly in over your head financially, talk to a professional. The non-profit Consumer Credit Counseling Service offers individual counseling and debt-reduction advice. Consumers can speak to counselors in English and Spanish 24 hours a day, year-round, by phone at 800-251-CCCS, and online at www.cccsatl.org and www.cccsenespanol.org, where live-chat counselors are available around the clock.
Atlanta consumer guru Clark Howard maintains a Web site (www.clarkhoward.com) with loads of budgeting tips, including links to free online college courses, coupons and oodles of other stuff. My favorite tip was Zenni Optical (www.zennioptical.com), a mail-order site that offers deep discounts on prescription eyeglasses. You won’t get your glasses in an hour, or be able to try on the frames, but you’ll save a lot of money.
The Motley Fool (www.fool.com) maintains an array of message boards where you can seek and offer budget advice on investing, dealing with debt, credit cards, financial planning and other matters. The plain-old folks who frequent the board offer valuable advice at no cost.
Being thrifty shouldn’t mean being cheap. Buy Girl Scout cookies, donate to the food pantry, donate to the thrift store, keep in touch with unemployed friends, and drive safely and sanely. I know it’s ugly out there, but let’s all try to stay civil.
SP