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IconHow to Teach Kids the Value of Money By A. B. Jacobs www.onthemoneytrail.com/ I'll admit, up front, that the care and feeding of juveniles is not my recognized specialty, though perhaps I can claim pseudo-expertise on the subject-somewhat akin to the late comic Jimmy Durante from his quotation: "I ought to know something about teenagers; I've been one all my life." Nonetheless, money is my field of expertise, and indoctrination into its proper use by youths of all ages is fundamental if they are to mature into financially responsible adults. Apparently the habits developed early in life become indelibly ingrained, and there are few capabilities more important than the wise use of assets. With that said, I'd like to share a few thoughts based upon situations I've witnessed over the years relating to the use and misuse of money. I'll preface my comments with the observation that whatever praise or criticism you may direct at the American public school system, one thing must be acknowledged: The handling of personal finances is not a subject to which much attention is devoted. Whatever the average American knows about monetary matters did not come from the classroom. This is understandable, of course, if only because the typical classroom teacher is equally mystified by the world of money. It's for this reason I'm convinced that a child's indoctrination into financial matters must be rooted at home. On this score, the fundamental guidelines that a parent can convey will be by precept and example. What a developing child witnesses in the behavior of an adult role model will prove far more persuasive than admonitions extolled or lectures delivered. If sound values are not demonstrated, they will not be learned. There's no surer way not to get a lesson across than to operate on the timeless but faulty principle: Do as I say, not as I do! This means that the parent must regularly practice prudence, and in a way to which the child can relate. Consider, as an example, an 8-year-old girl witnessing her mother's selection of cosmetics. Whether the choice of lipstick is the $25 Chanel selection from Macy's, the $6.87 Max Factor brand from Osco Drug, or the 99cent; Wet 'n Wild tube from Target, recognize that the essential ingredients are the same. The difference is packaging, promotion, and mystique, which is what the cosmetics business is all about. An explanation of the options to the child at the time of purchase will not soon be forgotten. The use of plastic is another opportunity to deliver a lesson in rationality. All children should be cautioned in their formative years that a credit card serves a single purpose: a convenience when neither check nor cash is handy. They must understand that when the monthly statement arrives, the cash balance is paid in full before the date that interest is charged. And most importantly, if the lesson is truly to sink in and be believed, the parents must live by this rule. If for any reason credit card use cannot be regulated in this manner, the cards ought to be destroyed and family life fashioned accordingly. There are other habits that wise parents will adopt and make a part of normal family discussions. These include institution of a systematic savings program, refusal to go into debt for an automobile or incur loans for expenses such as vacations, and avoidance of nonsensical purchases such as whole life insurance policies, variable annuities, timeshare projects, and lottery tickets. As to the myriad of financial matters that arise, children deserve to see how sensible decisions are reached as each instance arises. And as they mature to the point where decisions begin to affect them, encourage them to contribute to the discussion. There is another basic precept to which I subscribe. It is that persons will not relate to circumstances in which they're uninvolved. Let me offer an actual case in point. The daughter of an extremely wealthy man in her mid-thirties with three children and husband-albeit an indolent one-proved incapable of monitoring her personal checking account. She wrote checks regularly with no knowledge of the account balance. As they bounced, a bank official phoned her father who periodically made deposits into the account. Over the years he summoned her to his office where he futilely attempted, time and again, to instruct her on how to balance an account. Although a self-made multimillionaire, he never grasped a basic reality: to his daughter, balancing a checkbook seemed an exercise in the abstract. As all checks cleared, why need she pay attention to the balance? The significance seems obvious: If a child is to learn about money, he or she must sense some meaningful connection to it. And what better connection can there be than that accomplishment leads to reward? It's my belief that as soon as practicable, earning money becomes an element in family life. If your 12-year-old son hopes to spend Saturday afternoon at a movie matinee with friends, the source of the admittance might well be the fifteen dollars he earns by washing the family autos or mowing the lawn. Similarly, if your daughter wants to sport the latest fashion in teen-aged footwear, its purchase may come from the bonus she received for her school grades last semester, perhaps $100 for each "A" and $50 for each "B." And above all, whatever payment programs are instituted, responsibility and reward must be fully understood. Let me add a final comment on the matter of your kids' personal earnings. Though it's the parents' responsibility to advise their offspring on sensible spending and saving, they must not dictate how the youths handle their earnings. The decision on how money earned is to be spent-or horded, if that's the choice-is that of the recipient. When mistakes are made, the repercussions are the most valuable part of the learning process. Managing finances is a lifelong challenge, and the sooner experienced, the better. AL JACOBS has been a professional investor for nearly four decades. His business experience ranges from real estate, mortgage, and securities investment to appraisal, civil engineering, and the operation of a private trust company. In addition to managing his investments on a day-to-day basis, he is a featured financial columnist for both online and print publications. He is the author of Nobody's Fool: A Skeptic's Guide to Prosperity. You may subscribe to his financial Newsletter, "On the Money Trail," at no cost or obligation, by visiting www.onthemoneytrail.com/ . Permission granted for use on DrLaura.com More >>

IconMake Meals in 30 Minutes or Less By Jill Cooper www.LivingOnADime.com I was having dinner at my son's house the other night and my daughter-in-law had fixed "old fashioned" baked potatoes. You know, the kind you make in the oven and not the microwave. Boy, they were good. It seems that so many things taste better slow cooked in the oven. We started talking about how much longer it took to cook them in the oven compared to the microwave. That started me thinking. Yes, it does take longer in actual cooking time but in some ways it is easier. When I bake potatoes in the oven, I get them ready and in the oven an hour before dinner and then just forget about them until dinner is ready. Then, all I have to do is set them on the table and dinner is served. When I microwave them, I tend to start cleaning them and preparing them at the same time that I'm trying to make a salad and heat up the veggies. While I'm doing all of that, I have to remember to keep turning the potatoes and if I am cooking several, I have to put a few in the microwave and when they are done, pull them out and add more, all of this at the same time that I am trying to prepare the rest of the meal. Why is it that, even though we have faster methods of cooking our meals, they seem to have become more frenzied and hurried than years ago? Then it dawned on me -- With the introduction of the microwave and the idea that meals can be prepares in 30 minutes, most people do nothing to prepare or plan their meals until 30 minutes before they are going to eat. So 30 minutes before dinner you find yourself trying to thaw something, cook it, and slap it on the table and at the same time talk and deal with tired, hungry, cranky kids. Let's not forget how exhausted you are at this time of day, too. We need to warm up our ovens and start using them again the way our grandmothers use to do. Here are some tips and ideas that prove that cooking meals in a conventional oven instead of a microwave can be just as quick and easy, not to mention how much more delicious they taste and smell. I think we underestimate the power of coming home and smelling something yummy cooking. We automatically seem to relax, feeling that "all is well with the world". I really think it can change the whole atmosphere of your home for the evening. I am not living in a dream world. You can fix meals the way our grandmothers did. I hear some readers saying, "Our grandmothers weren't ever as busy as we are and so they had time to fix large meals." I can hear our grandmothers chuckling at that statement. My husband's grandmother had to help on the farm from early in the morning until evening. She took care of a large home garden, canned, cleaned house every day, did laundry without a washer or dryer and still provided meals not only for her family, but up to 20 farm hands as well. She had to do it all without a refrigerator, microwave, or a grocery store and the nearest water was a mile away from her house. My mother-in-law would go to work as early as 7 am and work until 9 pm 6 days a week, but she still managed to make three large meals each day. If you're thinking, "That's great if you want to spend all your spare time in the kitchen," consider that they spent less time in the kitchen than we do with less of the conveniences and still managed to have well balanced delicious meals each day. What was their secret? -- They had never heard of 30 minute meals. Even if they had they would probably have laughed and wondered who would spend so much time on a meal? They knew that the key to a quick meal wasn't how fast you could cook, but how organized you were. You can easily have a meal on the table in 15 minutes if you are organized and plan ahead. No, this doesn't mean you have to microwave or fry everything to have a quick meal. Slow cooking something in the oven not only makes things taste better but sometimes is quicker. Our grandmothers' secret to quick meals Keep your meals simple. Be organized. Decide what you are preparing the night or the morning before. Thaw anything you need the night or the morning before. Prepare as much of the meal as you can during the slow time of your day and when you are most refreshed. (This is very important.) Slow cook meats in the oven or in a crock pot. Keep your kitchen clean so you have an uncluttered work area. Here are some ideas on what to prepare. These aren't elaborate gourmet meals. If you are too busy to cook dinner, then you are to busy to make gourmet dinners. Stick with the basics and keep it simple like our grandmothers did. Roast: Place a roast in a crock pot or pan. Peel five potatoes and carrots and drop them in with it and turn on the oven. This takes five minutes. Clean and cut broccoli, celery and cucumbers for a salad -- five minutes. At dinner time, chop lettuce and tomato for the salad, adding the already prepared veggies. Then put the meat and the fixings on a platter -- five more minutes. Voila! Dinner in 15 minutes. Stew: It takes me seven minutes to cube meat*, peel five potatoes, carrots and onions, toss it into a pot and to season it. At dinner time, I put bread or dinner rolls on the table -- one to two minutes and I have dinner in nine minutes. *Ask your butcher to cube or slice all your meat for you. They usually charge nothing or just a few cents per pound. It saves not only time in cutting but in clean up too. Chicken: Toss a chicken in a pan or crock pot -- two minutes. Clean potatoes to put in with chicken or to bake in the oven -- three minutes. At dinner time, warm a veggie -- two minutes. Slice some fruit -- three minutes. Dinner in 10 minutes. Lasagna: Put noodles in a pot to boil -- one minute. Fry hamburger, get out cheese, tomato sauce and the rest of the fixings; mix sauce while noodles boil, 7-8 minutes. Layer everything -- two minutes. Cover and put in the fridge for dinner the next day or that evening. Put the lasagna in the oven to heat while getting out of your work clothes, checking the mail, etc. Set the table and cut a salad -- five minutes. Dinner is served; 15 minutes. Beef stroganoff: Make your beef stroganoff in your crock pot. (If you don't want to use a crock pot, this recipe usually takes very little time just stirring it up in a pan.) Dump everything but sour cream and noodles, into the crock pot -- three minutes and simmer all day on low. Clean carrots, celery sticks and broccoli for a relish dish (five minutes) and put it in the fridge. At dinner time, boil egg noodles (5-7 minutes). While they are boiling, add sour cream to sauce and set the table. Total time: 15 minutes. Chili: Mix everything in a pot the night before. Depending what you put in, it should take 5-10 minutes. Simmer throughout the next day. Soup: Do the same as with the chili. These are just general example of ways to fix meals easily and quickly. It isn't really a matter of time as much as it is a matter of being organized and getting things done before you are too exhausted to think. If you have meats thawed and the ingredients on hand, most things can be tossed together in about the same time as it takes to order and wait to get your food at a fast food place.Also, remember when you have your oven going to try to cook more than one thing in it. For example, if you are going to be baking a casserole, bake a pan of brownies, muffins or baked apples at the same time. Jill Cooper raised two teenagers alone on $500 a month income after becoming disabled with Chronic Fatigue Syndrome. She is the co-author of Dinging On A Dime Cookbook. To read more of Jill's articles and for free tips and recipes visit www.LivingOnADime.com Permission granted for use on DrLaura.com More >>

IconTo Roast or Not to Roast! By Tawra Kellam www.LivingOnADime.com Peter Piper Picked a Profoundly Plump Pumpkin -- Now What does he do with it? Every fall I get many questions about what to do with pumpkins. Many people find curious fascination in imagining what it would be like to grow these versatile little gems, as if growing something that produces a large fruit is somehow more respectable than growing, say, a serrano pepper. Many people eventually venture into pumpkin experimentation. Some succeed and many fail. Much like a dog that chases a car, many people never give thought to what they would do if they actually succeeded in successfully raising a patch of these fall favorites. Whether you have found yourself with more pumpkins than you know what to do with or you are one of the people who had to buy pumpkins and duct tape them to the vine, these tips for roasting and using pumpkins are sure to help you make the most out of them (no matter how you acquired them)! How to Roast a Pumpkin You can only do this with a freshly carved pumpkin! Do not use on a pumpkin that has beencarved and sitting out for several days. To bake a fresh 6 to 7 pound pumpkin, halve the pumpkin crosswise and scoop out the seeds and strings. Place halves, hollow side down, in a large baking pan covered with aluminum foil and add a little water. Bake, uncovered, at 375 for 1 frac12; to 2 hours or until fork-tender. Remove. When cool, scrape pulp from shells and puree, a little at time, in food processor or blender. Mix with a little salt. To freeze pumpkin puree. Put 1-2 cups in freezer bags along with spices and use in pies. To use pumpkin puree for recipes: Line a strainer with a double layer of cheesecloth or a flour sack dish towel and let the pumpkin sit to drain out the extra moisture BEFORE cooking with it. Pumpkin is very moist, so in order for your recipe to come out correctly, you MUST strain it. Roasted Pumpkin Seeds Boil seeds in water for 5 minutes. Drain well. Sprinkle with salt or seasoned salt. Place a thin layer on a cookie sheet. Bake at 250 . Stir after 30 minutes. Bake frac12;-1 hour more or until crunchy. *Squash seeds may also be used. Pumpkin Smoothies frac12; cup pumpkin 3/4 cup milk or vanilla yogurt frac14; tsp. cinnamon 1/8 tsp. nutmeg 2 tsp. brown sugar 4 ice cubes whipped cream (optional) sprinkles (optional) Place all ingredients in a blender. Blend until smooth. Pour into 2-3 glasses. Serve with a small amount of whipped cream on top. You may also add orange sprinkles if you like. Serves 2-3. Pumpkin Pancakes 2 cups flour 2 Tbsp. brown sugar, packed 1 Tbsp. baking powder 1 frac14; tsp. pumpkin pie spice 1 tsp. salt frac12; cup nuts, chopped (optional) frac12; cup pumpkin 1 large egg 2 Tbsp. vegetable oil 1 cups milk Combine ingredients. Stir just until moistened; batter may be lumpy. Heat griddle or skillet over medium heat; brush lightly with vegetable oil. Pour 1/4 cup batter onto hot griddle; cook until bubbles begin to burst. Turn and continue cooking 1 to 2 minutes. Serve with Pumpkin Maple Sauce and nuts. Pumpkin Maple Sauce 1 cup maple syrup frac14; tsp. ground cinnamon or pumpkin pie spice 1 frac14; cups pumpkin Mix together until well blended. In 5 years, Tawra Kellam and her husband paid off $20,000 personal debt on an average income of $22,000 per year. Tawra is the author of the frugal cookbook Dining On A Dime. Dining On A Dime has over 1200 recipes and tips to help you eat better and spend less. For more free tips and recipes visit her web site at www.LivingOnADime.com . Permission granted for use on DrLaura.com. More >>

IconAre "THEY" Ruining Your Finances? by Jill Cooper www.LivingOnADime.com They say that it is impossible for a family to live on one income. They say you need a bigger house for the tax deduction. They say schools need to budget for palm pilots for students, even though they can't afford to pay the teachers. They say that you need a compact car because we're going to run out of gas. They say you need a big SUV so you'll be safe on the road. They say you need to be a vegetarian or you'll die. They say you should eat a lot of meat so you'll lose weight or you'll die. Over the centuries human beings have been compared to sheep over and over again. I never cease to be amazed at how true that is. If one sheep decides to head down a road that goes right over a cliff, they all follow. Even in history when people march and demand the right to be individuals they still always seem to dress and act alike. Remember the "flower children" of the 60's? Even with their "free to be me" attitude, they were horrified if a man walked in with a suit and tie, since it was different from what they would wear. If children are doing drugs, drinking or just wearing strange outfits, they justify it because "everyone is doing it". So often, the parents' response is "If everyone jumps off a cliff that doesn't mean you should do it, too." Is that the story we tell them with our actions? Kids are very shrewd and have no tolerance for hypocrisy. We hurt our families and ourselves if we blindly follow the crowd. " They " (I still haven't figured out who " they " are but I don't think I like " them " or " their " ideas.) have set a standard of living that we must live by-- no matter what the cost. "They" say you can't live on one income, so many moms who strongly feel that it is best for their families if they stay home get jobs outside the house because " they " say "you can't make it." Never mind that the extra expense of child care, work clothes and (for many) "guilt offerings" purchased for their kids often exceed the extra income. " They " say that's the way it's supposed to be. How many dads have become only figures the kids wave good-bye to in the morning before heading off to two jobs because " they " say that is the world in which we live. Too many people who do this find that later in life their marriages are suffering, their kids are rebellious and resentful of their absence and the employer for whom they've invested all their time "providing" for the family lays them off. "They" say you have to pay to send your children to college so they can become a success and make a lot of money. When did " they " come up with the idea that going to college makes a person successful? How many parents have accrued $40,000 in debt for their son or daughter's degree, only to find the student working in a field that has nothing to do with his degree? Certainly, a college education can be a useful tool, but it is one that is wasted if the student doesn't need it or fails to use it. I find that the most successful human beings are those whose parents spent time with them and had the time to teach them values, self confidence, self reliance and love. You can always lose your stuff, but you can't lose your values or the knowledge that your parents love you. Stop basing your financial decisions on what " they " think you should be doing. Financial worries are the biggest cause of stress for Americans, leading to all sorts of physical and emotional problems. These worries are almost always avoidable, but many choose the worries over the common sense. The point of this story is not that you should never spend any money on anything. The point is that it is important that you decide whether or not spending your time or money some particular way is a good idea for your family. Keep in mind that when " they " tell you you should do something, " they " are often trying to sell you something you don't really need. Whenever you find yourself reflecting on your life and you realize you are doing something because " they " expect you to do it, tell " them " to butt out of your life, decide yourself what is really best for you and your family and do it! Jill Cooper is a frugal living experts and the co-editor of www.LivingOnADime.com . As a single mother of two, Jill Cooper started her own business without any capital and paid off $35,000 debt in 5 years on $1,000 a month income. Permission granted for use on DrLaura.com More >>

IconHow to Invest When Your Money Supply is Short By A. B. Jacobs A recent request from a newsletter subscriber was short and to the point: "Would you please give us some suggestions on how to invest when you don't have much money?" This sounded like a challenge I'd enjoy tackling. But as I wrestled with it, I realized the question involved far too many variables. Among them: How old is the individual? How little money is available to invest? What assets are currently held? I sensed that nothing less than a massive treatise could do justice to the subject. So I've narrow it down to something manageable, with the question becoming: I am single, 35 years old, possess few assets, and set aside $250 in surplus funds each month. How can I sensibly invest? Before I suggest how these funds might best be utilized, I'll risk irritating 95 percent of investment advisors by suggesting how they should not be invested. These monies should not go into the customarily recommended mutual funds, whether they be managed, index, balanced, sector, exchange traded, hedge, or any combination thereof. To the further displeasure of insurance company representatives, none of the cash should find its way into annuities of any sort. And lastly, the prospect of dabbling in precious metals, such as gold or silver, dare not even be contemplated. The reason I avoid conventionally promoted investments is because they are subject to market vagaries. The appropriate goal for this individual will be a measure of assured financial security upon retirement age. With only modest funds available, all of which must perform productively, there is no room for uncertainty. With the parameters established, the logical question becomes: What can $250 monthly be invested in that will predictably generate a sufficient return to guarantee financial self-sufficiency for a person in thirty years? I'll offer what some persons may regard as an unconventional reply. The assets should be placed into sound interest-bearing vehicles such as certificates of deposit, treasury notes, or corporate bonds. Though such a strategy may seem unglamorous, value can grow remarkably over a long period, with thirty years being sufficient time for favorable maturity. The secret ingredient is compound interest, which is as close to magic as you'll ever experience. To give you an appreciation of the potential, consider how $250 monthly will grow if it can be invested at a reasonably obtainable 71/2 percent return, compounded semi-annually, over 30 years. At the end of that time, it will become $341,500. What occurs, simply, is that when paid, the interest earns interest, which in turn earns more interest, which in turn . . . I think you get the picture. This multiplying effect resembles a geometric progression-a sequence in which the ratio of a term to its predecessor is always the same. Perhaps it passed over your head when first exposed to the principle in high school math, but as a get-rich-steadily device it is a winner. Although the investment technique I've just described is valid, there nonetheless is a fly in the ointment, for we've ignored an important element. The numbers I've calculated do not take into consideration income taxes. As all interest generated will be taxed at the top of the taxpayer's marginal bracket, a portion will be unavailable to benefit from the compounding effect. We must contemplate what this will mean in dollars available at retirement. We'll presume this individual receives enough salary and other revenue to fall into a combined state-federal tax bracket of about 33 1/3%. In a state like mine-California-it doesn't take much income to get there pretty quickly. Losing that one-third translates to lowering the 7frac12;% annual rate of return to 5%. The effect on the size of the retirement stockpile after thirty years is disheartening. Instead of the $341,500 we previously anticipated, there will only be $214,700 in the pot. That $126,800 reduction can mean the difference between a comfortable retirement, as opposed to just scraping by. Before we throw in the towel, let's consider whether there's some way of fixing things , for much of success in life is analyzing our options and carefully selecting from among the choices available. Luckily, just such an opportunity presents itself, thanks to a tax provision that first became available in 1998. It is the Roth IRA, a type of retirement account, available to certain taxpayers, from which all income is forever tax-free. By opening a self-directed Roth IRA account with a brokerage firm-preferably a discount one with minimal fees-all investments are held as IRA assets with the interest income accruing to the account free of taxes. Withdrawals in any amount, with neither tax nor penalty, are allowed from the account when the taxpayer reaches the age of 591/2. By taking advantage of this type of account, we fully restore our 7frac12;% annual return, subject only to a modest administrative charge. There is a final factor we must consider in this analysis-that of increased cost of living. Just what buying power will $341,500 actually command in thirty years? It's my belief that there's a correlation between inflation and interest rates. Most likely the dollar's decline will reflect the bond interest obtainable. Other economies usually perform this way; a hefty interest rate compensated for the 68 percent per year average decline in the Russian ruble during the period 1992 through 1999. Thus if thirty years of inflation results in a dollar with greatly diminished purchasing power, the obtainable interest rates, together with the corresponding multiplier effect, should greatly increase the total number of dollars. In short, there will likely be a trade-off. AL JACOBS has been a professional investor for nearly four decades. His business experience ranges from real estate, mortgage, and securities investment to appraisal, civil engineering, and the operation of a private trust company. In addition to managing his investments on a day-to-day basis, he is a featured financial columnist for both online and print publications. He is the author of Nobody's Fool: A Skeptic's Guide to Prosperity . You may subscribe to his financial Newsletter, "On the Money Trail," at no cost or obligation, by visiting www.onthemoneytrail.com . More >>

IconSave Up To 50% On Your Grocery Bill! By Jill Cooper www.LivingOnADime.com I have discovered the secret of saving money feeding babies, toddlers and preschoolers. Well, I can't take the credit for it. My mom taught it to me many years ago but I didn't put it into practice until the first financial crisis we had when my husband was laid off. What I have been practicing now for many years has now become one of the new buzz phrases -- "portion control". Usually when we think of portion control it is in connection with dieters and not young children or saving money. Most American parents serve themselves and their children huge portions of food. Their families eat only part of it, and then they discard the rest. Next time you scrape those half eaten plates of food into the trash, think about this: 30% to 50% of the food and drinks we buy, whether we eat at home or out, get thrown away. If you don't believe it's true, observe your own family this week. How many half full bowls of soggy cereal do you throw away? What about half empty glasses of juice, milk or pop? It is easy to forget that children under the age of four have only about a quarter of an adult's body weight. Often, we feed them adult portions and when we do give them smaller portions, each portion is usually only reduced to about half an adult portion. Do you use that large serving spoon and dump a full spoon of food on your child's plate? Say you give yourself two spoons of green beans and your child one-- That means that you have given yourself about 24 green beans and your child 12 when in reality, that child needs only about six. When deciding how much food to give your kids, start small and work your way up. Remember, if they eat what is on their plates you can always give them more. Use the same method for drinks. Even a small sippy cup should only be filled half full. This not only reduces the amount that you throw away, but also reduces the losses from spills. Another great way to save a lot of money is to give children more water. In addition to serving children overly large portions, failing to give them enough water leads to obesity. At this point, many parents point out that young children need lots of milk and juice. That is true to a degree, but consider this: The USDA recommends 12 oz of milk per day for children under 4. That is equal to two sippy cups. Don't forget that kids get milk from other sources too, including milk with their cereal and cheese. We think the more juice and milk they get the better, but once kids have had as much as they need nutritionally, the rest just adds calories. If you are ready to cut the waste from your food budget, here are a few more tips to save money and make your life easier: Cut the crust off your child's sandwich before you give it to him. I have tried for years to get my children and grandchildren to eat the crust and have discovered that it is like trying to climb Mount Everest. It can be done, but I'm not sure if it is worth all the work and headache. So give in and cut off the crust. Throw it in a bag and use it for bread crumbs or croutons. Then the kids will eat their entire sandwiches instead of just that hole in the middle and you won't waste the sandwich filling that would have been tossed with the crust. . Cut kids' sandwiches into small squares or triangles. Their hands are smaller then ours. Imagine always manhandling sandwiches that are two to three times normal size and you can relate to kids with full adult-sized sandwiches. This goes for all their food. Cut anything they have to hold in their hands into manageable sized pieces. Spills always happen, but they can be minimized. Try placing a paper doily at the top of your child's plate or someplace where you know a cup won't be likely to spill. Then teach the child that the cup belongs on the doily. Start giving your little ones only half of items like candy bars, gum, and popsicles. When you go out to eat, split a hamburger or order of fries between two younger children. You can even ask for an extra cup and split milk shakes and drinks. Control snacks. Don't just let the kids graze all day on candy and chips. Give children healthier things to fill them up, like popcorn or a piece of fruit at specific time intervals. Feed toddlers and preschoolers your leftovers. They usually don't balk at them like older children do. All those two tablespoon leftovers that are hardly worth saving are usually just the right amount for younger children. Jill Cooper is the editor of www.LivingOnADime.com . As a single mother of two, Jill started her own business without any capital and paid off $35,000 debt in 5 years on $1,000 a month income. Permission granted for use on DrLaura.com More >>

IconFrugal Ethics When Frugal Becomes Just Plain Cheap By Tawra Kellam www.LivingOnaDime.com There are times when it's tempting to lie, steal or break one of the other 10 Commandments to get a good deal but, in living frugally, we all need to stick to being honest. This is not always easy to do, but I want to give some examples that may help you stay honest. Here are some common tactics that some people use that are unethical and sometimes illegal: You need some pens because you are running short so you take a handful from a store that is giving them out. This is stealing. If you take one, that's fine. Unless they tell you to take them all, it is tacky to take a large number of them. They're offering them simply as a courtesy. You buy an item and you use it a few times and then return it because you're done with it. Stealing and lying. You probably won't tell the sales clerk you just needed to use it for a few times and even if you do, that's only OK if it is a rental store. If an item breaks, doesn't work or is not the right color, it is fine to return it. If you just needed it "for a few times" (like a dress for a special occasion) and know you won't use it again, you're stealing if you return it. If you eat a food item with a guarantee on the box and it tastes nasty, return it. That's why they offer a guarantee. If you eat the entire contents of the box first and return the mostly-empty box, it probably wasn't actually nasty. If you try to pass off your 14 year old child as a 12 year old so that you only have to pay for a child's meal, you are lying and teaching your child that lying is good when it benefits you. If you find a "great deal" that you can't live without but you don't have the money in your checking account, don't write a check. Let it be the "one that got away" If you knowingly write a bad check, you are stealing and lying. If you find a "great deal", buy it and then hide it from your husband, you're lying (unless it's his birthday present ;-). If you have to hide it, you know you're doing something wrong. If you charge up your credit cards with frivolous things like shopping and eating out and then declare bankruptcy, you are stealing from the credit card company and from everyone who does business with that company. Bankruptcy is intended to help people who end up financially strapped because of reasons beyond their control, like catastrophic medical expenses or the death of a spouse. It is unethical to declare bankruptcy because you went on a shopping spree, because you bought something you couldn't afford when you bought it or because you decided to change careers and no longer want to pay the student loans for your old career. You signed that piece of paper when you purchased the item saying you would pay them back and you didn't. It's up to you to pay them back any (legal :-) way you can, even if it does mean feeling "deprived" for a time. One more thing about bankruptcy: It is unethical to incur lots of debt "keeping up with the Joneses" and then go bankrupt because the debt is so large. Many people look at others and say to themselves, "Those people are the same age as me. I work hard. I deserve that too." or "our house is too small" or "our car is a real clunker so we need to buy a brand need one to "save" on repair costs ( a huge myth, by the way!). If you can afford these things, by all means, buy them. If you can't afford those things, find a way to make more money or learn to be happy with what you have. Frugal living is about making good financial decisions. There are so many things you can do to spend your money more wisely, so when you think you can get a "good deal", but it requires doing something that hurts someone else, pass it up. Whenever you're in doubt about whether something is ethical, ask yourself if it would be OK with you if the situation were reversed and you were the person potentially coming up short. Be honest. We've all heard "Do unto others as you would have them do unto you." If you would object to others doing it to you, you better look for a better way to save. Tawra Kellam is the editor of www.LivingOnADime.com . Tawra and her husband paid off $20,000 debt in 5 years on $22,000 a year income. Permission granted for use on DrLaura.com. More >>

IconSlow Down and Enjoy the Magic of Summertime By Patti Teel www.pattiteel.com "Summertime, and the living is easy..." Summertime is in full swing. And I don't know about you, but I'm finding it difficult to stick to a schedule and to buckle down and work. Perhaps childhood memories of long summer days spent at the neighborhood swimming pool have forever altered my cell memory-triggering an age-old urge to slow down the pace and enjoy life's simple pleasures. Rather than swimming upstream and fighting the urge to slow down, I've decided to go with the summertime flow. I hope that you and your children decide to do the same and enjoy a magical summer that includes carefree time to explore, dream and play. Soon enough, we'll once again be asking ourselves, "Where did the summer go?" Before fall arrives and back to school activities take precedence, be sure to enjoy the magical days of summer. Unexpected, delightful events are part of the fun and wonder of the summer. But if our children's days are overscheduled, they're likely to miss these unexpected delights-and so will we, as we frenetically drive from one activity to the next. Even though your intentions may be good, avoid being overzealous about providing structured activities for your children. Be sure not to fill all your children's time with lessons, summer camp, team sports, or other organized events By eliminating the summer activities that are not particularly enjoyable or important to your child, you are likely to find the time and space to enjoy the surprises of the day as they arise. Even the smallest events can be exciting to children, and it's a wonderful gift to be able to see the world through their eyes. If you unexpectedly see a beautiful butterfly, follow it with your child. If you make a wrong turn while driving, see where it takes you. If your son or daughter wants to have a last-minute lemonade stand, go for it. Enjoy the effortless flow of summertime. Each and everyday this summer, leave some time for your children to do whatever they want-even if it appears that they are choosing to do nothing at all. Don't think of it as wasted time. Children are naturally creative and you will be providing them with the necessary time and space to use this natural ability to be resourceful, self-sufficient and independent. At first, when you step back from your full time role as the summertime entertainment director, your children may not know what to do with themselves. This will change as children gradually become more accustomed to relying on their own devices to creatively entertain themselves. Many families find that they do best when they strike a balance between free time and planned activities. For example, you may wish to keep a calendar of scheduled activities such as trips to visit relatives, outings to the zoo, library, museum, or the family vacation. But don't be tempted to over schedule, and make time at the end of each day to relax, talk or read. Take a few quiet moments to reminisce on the simple summertime activities that brought you pleasure when you were a child. Perhaps they can become family traditions that you share with your own children and one day, with your children's children. About the author: Dubbed "The Dream Maker" by People magazine, Patti Teel is a former teacher and the author of The Floppy Sleep Game Book , which gives parents techniques to teach their children a nightly ritual to independently de-stress, relax and fall asleep. Children who know how to quiet themselves and turn inward will be able to relax and fall asleep-even when they are far from home, such as on a family vacation or at summer camp. Visit Patti online to subscribe to her free newsletter - www.pattiteel.com . Permission granted for use on DrLaura.com. More >>

IconFive Money Issues Couples Must Never Fight Over By A. B. Jacobs www.onthemoneytrail.com It's normal that spouses harbor different opinions on a variety of subjects. The two maroon shirts I occasionally wear-and love-are regarded by my wife as particularly ugly. As she's kind enough to humor me on this matter, it's only fitting that I don't openly criticize the TV melodrama she chooses to view at 9 o'clock every Thursday night. Although we seldom bicker over things, at times our respective differences, particularly on the matter of money, are clearly stated. And this is as it should be, for income and expenditures are at the heart of any partnership, family as well as business. With that said, it's my belief that there are five basic issues in which both spouses must be in firm accord. These represent the most prevalent omissions and commissions that lead to untold grief for many couples. 1. If I should die before I wake. As a very first consideration, every family provider must arrange financially for his or her survivors in the event of untimely death, meaning the spouse and all minor offspring. A common way to accomplish this is with a life insurance policy. This is where controversy arises, for there exists an industry devoted to selling products that minimize death benefits while maximizing profits for its marketers. Regardless of sales pitches to the contrary, you want an inexpensive and unadorned 20- or 30-year level benefit term policy, of sufficient face value (normally no less than ten times the insured's annual income), from an insurer with an A.M. Best rating of A+ or A++. Once the company is chosen and the face amount of the policy is determined, neither husband nor wife should question the wisdom of the periodic premium outlay. 2. The minimum payment is a road to disaster. No single implement has lead to greater misery for more families than the credit card. Over the past couple of generations it has been promoted in a way to financially destroy the unsophisticated user. It's my belief that a credit card should serve a single purpose: a convenience when neither cash nor check is readily available. Purchases should only be made in a manner that the account balance is paid in full each month before any interest can be charged. Both spouses must conduct their lives by this rule. If either cannot do so, all credit cards should be destroyed with members of the family adjusting their lives accordingly. 3. All hail the horseless carriage. With the exception of hearth and home, the motor vehicle constitutes the typical American's single most important fixation. No other product is more forcefully marketed, and far too many people succumb to its allure, forfeiting a substantial portion of disposable income. I'll put it bluntly: No one should drive a vehicle that is financed or leased. You should acquire your transportation 100% cash on the barrelhead, even if it means you drive a 1984 Toyota Corolla. Each spouse should enthusiastically embrace this concept. At a later date, when your fortune is deservedly secure, you may feel free to sport brand new matching Rolls Royces-but again, devoid of any financing. 4. Education doesn't make you smart-merely educated. Too many dollars that go toward tuition and ancillary expenses are wasted. The educational establishment has convinced the nation that post secondary schooling must appear prestigious and be costly. The result is that untold numbers of college graduates and their parents are in hock big time, some never to emerge from debt. What a waste! I advocate college-on-the-cheap, with the freshman and sophomore years spent at a community college, commuting from home, and the junior and senior years at a reasonably priced local state university. For a bright and diligent student, the education received is as good as four years at Harvard. Both spouses should be in accord on this principle. The finest gift a parent can give an offspring is the assurance that child will never need to support an indigent parent. 5. It's never too soon to plan for the future. A most repeated statement of persons in their late 50's and beyond is: "I never thought I'd get here this soon." It's for this reason that a wise couple will plan for their retirement at the earliest age. There must be no question that retirement accounts, whether they be IRAs, 401(k)s, or other private programs, be established, and funded, from the earliest working days. In addition, funding should continue year after year, as though future well being depends upon the assets accumulated-for indeed, it does. It is true, of course, that regular allocation of meaningful sums toward retirement reduces what is available for current luxuries. This is where mutual resolve, together with a healthy dose of discipline, is vital. Above all, neither spouse should undermine the efforts necessary to insure that retirement years will truly be a period of prosperity, free from the financial worries in which the majority of citizens are immersed. I've long contended that the benefits of wealth only intensify with the passing years. Let me sum things up: It's been said, and rightly so, that personal satisfaction and financial contentment is not dependent as much upon the amount of income earned, as the way in which that income is used. It should surprise no one that the marketing of services and products is now the most pervasive industry in the world, employing highly effective methods to create demands for goods of all sorts. The social and psychological pressures brought to bear on prospective customers are more than many persons can resist. If you hope to prosper, it's vital that you avoid the impulse to purchase unwisely. As pleasing as childish illusions may be, they invariably lead to disappointment. Keep this constantly in mind as you conduct your financial affairs. AL JACOBS has been a professional investor for nearly four decades. His business experience ranges from real estate, mortgage, and securities investment to appraisal, civil engineering, and the operation of a private trust company. In addition to managing his investments on a day-to-day basis, he is a featured financial columnist for both online and print publications. He is the author of Nobody's Fool: A Skeptic's Guide to Prosperity. You may subscribe to his financial Newsletter, "On the Money Trail," at no cost or obligation, by visiting www.onthemoneytrail.com . Permission granted for use on DrLaura.com. More >>

Icon"No Money, No Time"- Sorry Mom, But I Ain't Buyin' It By: Carrie Lauth This week on Work at Home Moms Talk Radio, my friend Kelly McCausey talked about Moms who say they don't have enough money to start a home based business. She went on to explain that she wasn't born with a silver spoon in her mouth either and had to scrape together $15 from her grocery money to start her online venture. Her diatribe got me thinking. I don't buy the No Money excuse either. I've known women who did whatever it took to get the cash to start their business. Let me give you some examples. One Mom took her little girl's fancy Sunday dresses to a consignment shop and used the cash to buy her Direct Sales kit. You think her daughters are upset with her about that? Nah. Now she takes them with her when she travels around the world. One Mom had a yard sale, and used that $80 to invest in a business. She also gave a flyer that she had printed up on her computer to the people who visited her sale. (They can't run away! Added bonus.) One Mom went around pre-selling the product. She told everyone about how great the stuff was, took orders, and collected the money. She deposited the checks and used that money to buy the product at distributor price. She then turned around and sold the product to those customers at retail. You can quite literally start a business online for around $20. For instance, Dayana will host your website for an entire year for $15. You can buy a domain name for $2.99-$10. You can start with that, and as you begin to earn money, reinvest in your business. You'll need a mailing list manager and a couple of other tools to really succeed, but the point is to start somewhere. In this country, if a person cannot come up with that little cash, they're likely either extremely lazy or totally uncreative. That kind of person isn't a good candidate for a home based entrepreneur anyway so it's just as well. Other ideas:Get a loan from a friend or family member, complete with a written agreement to pay back the money. If you're really hard up and don't have a family member or friend who loves you enough to loan you a few bucks, then you have other problems! You could even approach your sponsor if you're considering joining a Direct Sales company. Tell her you will book 5 parties in your first week and give her all the profits until the money is repaid. If you got that down in writing, told her your plan of attack and are sincere, I can't imagine her saying no! She knows you're a temporarily broke but highly motivated, "out of the box" thinking person who she knows will likely be an awesome addition to her team. Sell some stuff on eBay. You can clean out your closets (or somebody else's!) or go to a thrift store and buy some Baby Gap clothes to sell on eBay for extra cash. CDs, DVDs, and hardcover books also sell well. Do a quick, temporary odd job. I know a Mom who put up a handmade sign at a local health food store: Non Toxic Cleaning Services. She pocketed $150 for a few hours work, and guess what- she used her own natural cleaning product and likely made a customer too. Cancel the cable. Contrary to popular belief, cable television is not a need. Use that $60 a month or more to build a business. That will give you a leg up on the other favorite excuse too... Another excuse I don't buy? The "No Time" Excuse We all have 24 hours in a day. Some people are able to do amazing things with their gift of time. Remember the Mom who sold the dresses at the consignment shop? She had 7 kids. 7 home schooled kids. She built her business one person at a time, just by inviting them over to her house for a cup of tea while her kids played around her. If anyone had "no time", it was her. But she took the time. Now she enjoys a residual income that allows her to go on cruises and spoil the grandkids. People have time to watch their favorite TV shows every day or every week, but they don't have time to exercise? To quote Homey the Clown, "I don't think so." If you have kids, why not work out a babysitting co-op with another working Mom? You could watch her kids for a few hours two or three days a week and she could do the same for you. During that time you could focus on building your business. If you're very careful with how your spend your time, a few hours 3 days a week could be enough to start and build a profitable business! As you begin to earn a profit, you should then commit to reinvesting in tools that will save you time and automate different tasks. You could also outsource some of the easier activities, or the things you don't enjoy so much, to someone else so you can focus on the things you're good at that really earn you money. When you have a home based business, you get good at making the most of your time around the house. You become more efficient with household tasks, and you ask for help and delegate more too. Those things save you time. I know what I've said here may step on some toes, but I speak truth. Stop making excuses. Get creative and figure out how to solve these problems so you can move forward with your goals. Now go get 'em! Carrie Lauth is a work at home Mom of 4 and is excited about helping other Moms succeed online. Sign up for her free newsletter and get a free report on how you can earn money from your own online magazine: www.Business-Moms-Expo.com Permission granted for use on DrLaura.com More >>

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