44 ways to ruin your financial life

It was not until I reached 30 that I started to turn my own financial life around. Unfortunately, by then, the damage was done. In retrospect, I often knew the decisions I was making were not-so-smart, but I did them anyway because I could always “pay it off later” or “just save more money when I’m older.” One of the cruel facts of life is that it gets harder when you get older.

Hopefully, by sharing a few of these bad money moves, it will prevent others from doing the same. And don’t worry, if you are over 30 and still doing these things, it is never too late to start living frugal.

Is Tuition Cheaper at the School of Hard Knocks?

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Think You Could Have A Party For Cheap?

Hosting a dinner party is always fun, but right now I need my get-togethers to be budget-friendly as well. Remember when I made crab cakes? That was for a group of 5 or 6 friends. The crab cakes were delicious and everyone loved them, but, crabs are expensive! Two pounds of crabs cost $20 out the door. Add in the other food and ingredients and I’m looking at $40 that night. I love to entertain and I want to do it often, but I can’t spend $20 on one dish more than once in a while.

That’s where a budget dinner party comes in. When I decided to host another dinner last night, I decided to look to a humble ingredient – the potato. I also had a few pescatarians and vegetarians in my party, so I decided to serve a scalloped potatoes (without bacon bits) as the main dish. It’s perfect for a chilly night: filling, tasty, and easy on the wallet.

Here’s how you can host dinner parties on a budget, and keep your stress level low:

1. Serve a main dish that uses low-cost ingredients (eggs, potatoes, flour, etc.). This strategy will help keep costs down. After all, if you are serving lobster tails with truffle butter, your costs will not be low no matter what you do (but oh, will your dinner be scrumptious!). Using inexpensive ingredients also mean that if you somehow mess up during the course of cooking and have to use more material, it’ll be okay. Even if you drop a whole carton of eggs, you’ll only be out $2 or $3. Unlike, say, if you drop a bowl of crab on the floor. That will be $10 down the drain.

2. Skip the decorations but fire up the ambiance with candles or mood lighting. A dinner party doesn’t need fancy decorations to be fun. After all, laughter is free! Most of the time, I don’t bother with theme or decor or all that jazz! Some candles (tea lights are $1.99 a package at IKEA) will do the trick nicely.

3. Ask your guests to bring wine / dessert / side dish. If your guests are as great as mine, they will ask you what they can bring. Don’t be shy to let them know that beverages or side dishes would be appreciated. I always say, “if you can bring something, wine or dessert would be great!” And my guests usually all bring a little something to share with the group. This cuts down on your costs, but most importantly it minimizes the time you spend preparing and cooking so you have more time to spend with your guests.

What are your best tips for hosting a dinner party on a budget?

Source: WellHeeledBlog.com

Saving with credit cards? Really?

Finances: Saving Money on Credit Card and Banking Fees to Save Money for Yourself


By JASON RICH


Credit cards are not all alike. How much you pay for the convenience of utilizing one or more credit cards will depending on the issuing bank, your credit score, the card offers you apply for. After a divorce, as you make decisions about establishing credit cards in your own name, finding the best deals can help you save money in fees and interest charges.


ANALYZING A CREDIT CARD OFFER

]The first step to finding a great credit card deal is to select a card that has no application fee or annual fee. Next, look at the APR (Annual Percentage Rate). The Introductory APR may be much lower than the standard APR, and the account will automatically switch after a pre-determined period. The Introductory APR or standard APR is the interest rate you’ll wind up paying on balances. Credit card issuers charge different interest rates for different types of purchases. For example, you’ll typically pay a higher interest rate for cash advances, and a different rate for balance transfers. Charges can really start to add up.

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