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Ten Ways to Save Big on Baby Gear By Sandra Gordon author of Consumer Reports Best Baby Products Baby products are an 8.9 billion dollar industry in this country. There's a lot to choose from-and a lot of stuff you can live without. A typical middle-income family with one child in the U.S. will spend an average of $13,590 on baby's first year alone. But you get better value, and still buy high-quality, safe products without spending a bundle. The trick is to do your homework and research products before you shop online or step foot in the baby products super store. Also: Get more mileage out of your baby registry. Friends and relatives want to give you gifts, so take advantage. But before you add a product to your registry, make sure it's right for you and your lifestyle. Test-drive products in the store and take your baby registry as seriously as if you were paying the tab yourself. Register for big-ticket items like a stroller, car seat and crib. Who knows? Friends and relatives may go in as a group and buy them for you. And register for everyday items like diapers in all sizes except for newborn, and baby wipes. You'll need those items for years to come. Babies will outgrow newborn diapers in a flash, so it doesn't pay to register for that size. And don't register for clothes. You'll get those anyway as baby gifts. Take advantage of freebies and coupons. One of the best ways to save is to shop with coupons when products go on sale, then stock up. That's a good way to save money on baby food, diapers and baby wipes, for example. On another note, hold onto those 20 percent Bed Bath and Beyond (BBB) coupons. BBB recently bought BuyBuy Baby so you can now use BBB coupons at Buybaby Baby, too. On a $250 stroller, you'll save $50. Compare prices online. Once you know what you want, you can go online and try to find the best price. But watch shipping charges. For heavier items, it might make sense to go to the store instead. Buy used. Garage sales make sense for buying clothes and items that often aren't used every day such as backpack carrier, a bicycle trailer or bicycle-mounted seat. But, in general, a used product should either be new or look like new to you. Don't give your baby or dress your baby in something that doesn't look safe. But some products, like a car seat, crib and play yard you should always buy new because their safety standards are constantly being updated, so you want to make sure you're buying the latest version. And whether it's new or used, check the CPSC's Website to make sure it hasn't been recalled. Buy as your baby grows. Except for the basics such as a crib, car seat, and stroller, you don't need to buy many baby products until you're sure you'll need them. The wait-and-see approach gives you time to check with friends about their experiences with specific baby products and ultimately can save you money. You may be able to borrow some items. Others might not seem necessary once you understand what your baby's needs are. Stock up in the fall. Fall is prime baby bargain time, since retailers tend to clear their inventory to make room for next year's products, which arrive between November and January. Shop around. Prices can vary from one shopping venue to another, sometimes dramatically. Mega stores and discount chains such as Babies "R" Us, BuyBuyBaby, Kmart, Sears, Target, and Wal-Mart often have the lowest prices. For personal attention and informed sales help, smaller stores may be a better bet. Another plus: Mom-and-pop stores have more leeway to offer on-the-spot discounts, especially if you're a regular customer. Just be sure to ask, "Is that your best price?" Keep in mind that salespeople everywhere may have an incentive to push their most expensive wares. And beware of the emotional pull of lines like: "But it's for your baby" and "It's not every day that you have a baby." Unless you're on your guard, it's easy to be persuaded to spend, spend, spend. Watch for sales. Toys "R" Us, Babies "R" Us, and BuyBuyBaby stores routinely put out newspaper inserts and in-store fliers with big savings on brand-name baby items. Keep infant formula costs down. If you use formula, buy the store brand in the powdered version. That's the least expensive option. And stock up on sale. All infant formula sold in the U.S. must meet the same basic safety requirements, so if your baby likes store-brand formula, there's no reason not to buy it. Sandra Gordon is the author of Consumer Reports Best Baby Products . She also frequently writes about health, nutrition, parenting, and baby products for leading consumer magazines and Web sites including Parents, American Baby, BabyTalk, ShopSmart, Prevention, Family Circle, and Kaboose.com . Got a baby product question? Contact Sandra at www.babyproductsmom.com . Permission granted for use on DrLaura.com. More >>

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When An Artist Faces The "Dying of the Light" By Cliff Ennico www.creators.com "My Mom was a prominent artist in her day. She created hundreds of original paintings, most of which she still keeps in the home where we grew up. Some were sold through galleries, and a few were given to friends and relatives, but most of them she still has. Sadly, Mom is in a hospice right now, and is not given much longer to live. She and I were working on a book together, featuring reproductions of her paintings as well as some photographs I've taken over the years. I'm hoping to complete the book before she dies, but how should we handle copyright in a situation like this? I have two siblings, and while I don't want to cut them out of their fair share of Mom's estate I want to be sure I receive the lion's share of the profits for all the hard work I've done on this project. What's the best way to do that?" First, some copyright basics. When an artist creates any work of art - a painting, a photograph, a sculpture, or anything else - her copyright attaches to the work the moment it's finished. You do not actually have to register the copyright with the Copyright Office as long as there is some documentation as to when the work was created. Unless your Mom assigned her copyright to her paintings to someone else, she still owns the copyright to all her paintings, and you own the copyright to all of the photographs you took. When your Mom dies, the copyright to her paintings will pass to her estate and then to whomever she designates in her will. Even though your Mom sold and gave away some of her paintings, she still owns the copyright in those paintings. Ownership of a work of art does not give the owner the copyright. If I buy an original painting from a local artist at a crafts fair, I can hang it anywhere I like (or not at all) and can resell the painting to anyone whenever I want. What I can't do is (1) make any changes or alterations to the painting, (2) copyright the painting in my own name, or (3) make reproductions of the painting for profit, without the permission of the artist (or his estate if he's passed on). What someone is going to have to do in your case is to put together a catalogue or inventory of all your Mom's paintings - the ones she has as well as the ones she sold - and appraise them for estate taxes. Your estate attorney should be able to recommend a gallery owner or art appraiser in your area who can do this sort of work. Next, assuming your Mom still has her mental faculties and is aware of what's happening, have your attorney draw up a short document by which your Mom gives you permission to make reproductions of her paintings and include them in your book, and grants you a "nonexclusive, limited, perpetual license" to do so. Each of those words has legal meaning, and your attorney can explain them to you. Basically it means you can put reproductions of any of your Mom's paintings in the book and no one (not even your siblings) can do anything about it. To be enforceable in a court of law, it's probably a good idea for you to pay to your Mom (or her estate) a percentage of any royalties and other income you earn from the book. That will make a legal challenge from your siblings (or anyone else) much less likely. Finally, it may be time for your Mom to update her will. Now is the time to do that, assuming she's still mentally lucid. Here are some specific will provisions you may want to consider, depending on how co-operative your siblings are: a clause specifying that the copyright to all her paintings is to be held in trust for all three of her children, with you as sole trustee; a clause appointing you sole caretaker of all her paintings (as opposed to the executor of her estate, who can be someone else), and making you solely responsible for preparing a catalogue and inventory of her work (at the estate's expense); a clause giving you sole authority to make decisions regarding the sale, lease and license of her paintings for the benefit of you and your siblings (assuming you're the one who has a "head for business"); and "specific bequest" clauses transferring possession of certain individual works of art to you and your siblings (but not the copyright, which will be shared by all of you equally). Most important, sit down with Mom right now and make a list of every gallery owner, friend and relative she remembers giving her paintings to over the years. That's information your Mom probably has "in her head" and it will disappear forever once she passes. Cliff Ennico ( cennico@legalcareer.com )is a syndicated columnist, author and former host of the PBS televisionseries 'Money Hunt'. This column is no substitute for legal, tax orfinancial advice, which can be furnished only by a qualifiedprofessional licensed in your state. To find out more about CliffEnnico and other Creators Syndicate writers and cartoonists, visit ourWeb page at www.creators.com or visit succeedinginyourbusiness.com .COPYRIGHT 2009 CLIFFORD R. ENNICO. DISTRIBUTED BY CREATORS SYNDICATE,INC. Permission granted for use on DrLaura.com. More >>

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Family Financial Strategies: Credit Card Use By Al Jacobs www.onthemoneytrail.com A running debate continues over the use of credit cards. Much of the controversy involves matters like annual fees, interest rates on the unpaid balance, and the use of an account to establish credit. Articles abound on charge strategies to secure tax deductions for otherwise nondeductible interest payments. There are even dissertations explaining how balances due on one card can be financed for prolonged periods through borrowings on another. Much of the information is of marginal value, and some is preposterous. Here's the straight word: The lower the annual fees and charges, the less you pay each year. Some banks and other organizations offer a card without a fee. If so, grab it. In case you cannot find a free one, shop around for the lowest price. In this regard, let me offer the philosophy of "Cheap Charlie," a one-time Huntington Beach, California, shopkeeper who operated on the stated principal: "You can't beat cheap"? certainly words to live by. As an aside, Charlie closed up shop during an economic downturn; perhaps his prices rose too high. Nonetheless, make certain it's not merely the first year's fee which is waived. Also give thought as to whether the card is sufficiently usable. MasterCard and Visa are universally accepted; American Express, Diners Club, and others are of less value because fewer businesses accept them. Does it surprise you interest rates charged on credit card balances generate dissention, resulting in litigation and legislation? This is understandable when comparing interest paid on bank savings accounts, currently at or below 2 percent, to the interest that credit cards incur , often running to 21 percent and higher. It's true some issuers around the country offer credit card rates more in the 10 percent range, but these are the exceptions. Worst of all is what happens to those unfortunates who get tagged at the default rate , which can be triggered by any sort of contrived infraction such as exceeding an arbitrary credit limit or a single late payment. Default rates as high as 31.99% are not uncommon. To add a second whammy, the federal Tax Reform Act of 1986 phased out tax deductibility on personal interest payments. Consider the ramifications of credit card debt at a 30% default rate on a taxpayer in the 28% federal income tax bracket, forking out an additional 7.65% in FICA withholdings as well as state income taxes (at 9.3%, if a Californian like me). This poor devil must earn $1,817 to retain $1000 after taxes to pay on the credit card. This calculates out to an effective annual interest rate of 54.5%. Such thievery would have caused Al Capone to blush. In passing, be aware of other wrinkles. Many credit card issuers impose charges on users who avoid paying interest. They also collect fees, often retroactively, on a variety of pretexts. They rationalize these practices as necessary costs of maintaining the account, as if a reason to charge a fee is needed. Perhaps some relief is in sight. In an April 23rd radio address, President Obama called for legislation from Congress to reign in the credit card industry. He declared: "Rate hikes and late-fee traps have to end. No more fine print, no more confusing terms and conditions. We can't tolerate profits that depend upon misleading working families. Those days are over." What will come from all of this is uncertain. The bank and credit card lobbyists constitute a powerful interest group. This finally gets us to the bare bones of the matter. My belief is a credit card serves a single purpose?a convenience when neither check nor cash is handy. Most importantly, when the monthly statement arrives, pay the full cash balance before the date interest is charged. Follow this rule and the interest rate means nothing. If for any reason you cannot regulate your credit card use in this manner, destroy your cards, swear off cold turkey, and fashion your life accordingly. Al Jacobs has been a professional investor for nearly four decades and a nationally syndicated columnist. He is the author of Nobody's Fool: A Skeptic's Guide to Prosperity . Subscribe to his financial column, "On the Money Trail," at www.onthemoneytrail.com . Receive your free Life Stages report at www.onthemoneytrail.com/lifestages.html. Permission granted for use on DrLaura.com. More >>

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