Rainy-Day Saver

Ceiling Beams Are Up

noreply@blogger.com (RainyDaySaver) — Mon, 09 Nov 2009 13:00:00 +0000

Dad and brother came over Sunday to raise the ceiling in the spare room from 7 feet to 8 feet. Bro brought over a ton of lumber yesterday, including 12-foot 2x6s that we had to push up to the second floor over the roof of the first-floor porch room and through the upstairs window. That was fun.

First, we installed the new beams at the 8-foot level, then took down the old ones. I'm working the early shifts this week and am off on Wednesday, when Dad and I will be using 2x4s to rebuild a wall that for some reason had the studs facing flat instead of outward. After that, replacing all of the electrical stuff (outlets, switches), insulation and drywall. Things are finally shaping up!

Since we spent the entire weekend at home, it was a no-spend weekend, which makes me happy. That's more money to throw at our credit card balances. In fact, the one card I thought would be paid off by February will actually be finished by January! That will leave us with about $2k to pay off on the second credit card. After that, our only debt will be our truck (financed at 0%) and our mortgage.

Saturday Link Love

noreply@blogger.com (RainyDaySaver) — Sat, 07 Nov 2009 16:20:00 +0000

It's the weekend! We're going to do some projects around the house, and hopefully put up the ceiling in the upstairs bedroom we're (slowly) renovating.

I keep finding new and exciting personal finance blogs out there -- it's nice to see so many people are interested in their finances and want to help educate others. Here are a few of my favorites from the past week:

FreeFromBroke talks about the newest homebuyer tax credits, signed by President Obama this week. See if you qualify at "It’s Official: First Time Home Buyer Tax Credit Extended Now For Existing Owners, Too"

At Consumerism Commentary, we learn that Quicken Online will be phased out and users changed over to the Mint software, in "Quicken Online Users Will Be Migrated to Mint"

"Five 'Forgotten' Financial Habits to Develop In Your Twenties" at MoneyUnder30 reminds twentysomethings that it's never too early to plan your financial future.

Budgets Are Sexy has a good conversation about when talking about salary is appropriate in "Why are you asking about my salary again?"

Have a great weekend!

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Too Many Kitchen Gadgets

noreply@blogger.com (RainyDaySaver) — Fri, 06 Nov 2009 17:06:00 +0000

Need to make bread? There's an gadget for that. Want to have homemade ice cream? There's an gadget for that. Grind your own coffee beans? There's an gadget for that.

The list goes on and on. Nowadays, there's pretty much a kitchen appliance or gadget for every cooking or baking task. And they don't have to be electric-powered, either. Could be a garlic press, a mandolin slicer or an apple corer. Truth is, we've becoming super-lazy when it comes to cooking.

I'm willing to 'fess up to having quite a few gadgets in my kitchen. In no particular order:

– Manual chopper: Think Slap Chop, but different brand, 7 or 8 years old and minus the prostitute-beating spokesperson.

– Apple corer: I love this thing, especially in the fall. Managed to slice my finger pretty deep with it, though, because I'm a klutz like that.

– Ice cream maker: Who wouldn't want one of these? Only makes about 2 pints of ice cream at a time, but that's plenty.

– Countertop grill: Better than the two-sided George Forman grill. It has a drip pan and cooks foods like an outdoor grill.

– Food processor/blender: This does double-duty, but I hardly use it.

– Small food chopper: I think my dad got this electric chopper through the old Marlboro Miles program. He had a lot of miles from the cigarettes.

– Toaster: An absolute necessity in our house, since I think I live on English muffins, between topping them with butter and strawberry jam and using them for sandwiches like taylor ham, egg and cheese, and hamburgers.

– Microwave oven: I've been wondering how much we really need one of these. It's good to reheat leftovers, but I don't use it all that often. Much prefer to use a pan to cook taylor ham (see a theme here?) or heat up tortillas. And Mr. Saver is fond of just picking up or spoon-scooping cold food out of the plastic containers in the fridge.

– Stand mixer: Another must-have in my kitchen, for all of the baking I like to do in the winter months.

– Hand mixer: Electric, but relegated to the bottom shelf thanks to the aforementioned stand mixer. May it rest in peace in its box.

– Breadmaker: Received as a much-wanted wedding gift, but yet to be removed from its box. Perhaps I'll put it to use this weekend, because it deserves to see the light of day after seven months.

– Coffeemaker: Mr. Saver didn't even know we owned one until a few weeks ago. Hardly used, up on a shelf. I'm a tea kind of gal.

– Crockpot: Not often utilized. I don't like to leave it on if I'm not home, so that pretty much KOs its use during the week.

– Showtime Rotisserie: Set it and forget it! We made a few meals in here, and forgot about it, all right. Now sleeping on the pantry floor.

– Salad spinner: This one makes me laugh, because I hate salad. So why did I buy it?

Sounds like a lot of crap – and it is – but I'm going to call out other people I know who own far more: pasta makers, deep fryers, deli slicers (that's going overboard), electric carving knives (huh?), electric can openers (lazy?), meat grinders, sausage stuffers (needs a better name).

Exempting those who cook ALL THE TIME, do we really need this stuff? Granted, a lot of it makes life easier and is used on a regular basis, but seems like a lot of wasted money.

Oh well – at least we received most of our kitchen gadgets as gifts.

Switch To An Online Bank for Higher Interest Rates

noreply@blogger.com (RainyDaySaver) — Thu, 05 Nov 2009 14:00:00 +0000

Sure, brick-and-mortar financial institutions are reassuring. It's nice to interact with the bank tellers and know that your hard-earned money is going right into your account or coming right into your hands. Transfers between accounts can be done on-site, while a customer service rep or manager will sit with you if you want to open an account.

But nowadays, I find myself doing more and more of my banking online. I pay all bills and make transfers through my bank's website. My paycheck is direct deposited. My debit card is used for most cash transactions -- I just don't carry much cash on me. Other than checks for invoiced work, I have no need to go to the bank.

Where are the perks for customers like me? Sure, my direct deposit allows me to bypass a monthly fee, but my interest rates aren't showing any improvement -- savings rate is .75% right now. That's why I'm now considering moving our savings fund to an online bank, where the interest rates are markedly improved over those offered by local banks.

A sampling of rates for savings accounts:

ING Direct -- 1.30%
A very popular online bank. I know a number of people who have accounts with them. The $25 referral bonus for both the existing and new account holders is a nice deal-sweetener. Requires a $250 initial deposit.

SFGI Direct -- 2.25%
One of my Twitter friends brought this bank to my attention (ED. NOTE: Flexo @ Consumerism Commentary blogged about it), but it only allows people to open accounts at certain times. The banks puts a moratorium on new accounts as it sees fit. Requires a $500 initial deposit.

HSBC Direct -- 1.35%
Large bank's online branch. Just $1 to open an account.

It's important to keep in mind that transactions take a few business days to complete and that interest rates are subject to change.

Any of these banks would greatly increase the interest on our savings account. While it seems easy enough to transfer money back and forth, I would keep a small savings cushion in my "real" local bank in case an emergency crops up and I'm unable to move the money around fast enough.

I'd likely go with ING Direct, since it has the best track record, from what I read and know. Plus, the $25 referral is nothing to sneeze at. With a $250 initial deposit, the $25 is like making 10% on your savings from the start. And 1.30% is better than .75%.

Do You Need Pet Insurance?

noreply@blogger.com (RainyDaySaver) — Wed, 04 Nov 2009 15:39:00 +0000

Tuesday was a busy day -- between straightening up the house and going food shopping, my dad and I had another brainstorming session about the bedroom we're renovating. But the morning started off with a trip to the vet for our older cat, Krashy.

Our furry little 11-year-old man had an odd black spot on his gum that I wanted to get checked out. His gums are pink, but he's always had a pigmented black spot on one side of his jaw. On Sunday, I could actually see the black spot, so I opened his mouth (much to the cat's chagrin) and took a look. To my untrained eye, I thought I saw a blood blister of some type. Thinking our younger cat, 2-year-old Misfit, got the best of him during one of their little tiffs, I made an appointment with the vet. He was overdue for his shots, anyway.

Well, let's just say that Krashy had a very bad day. Not only did bad Mommy let him see the cat carrier before it was time to drop his butt into it (I can't get him in there on his own and have to lower him into it while it stands on end), but he got manhandled at the vet -- two shots and bloodwork. The poor thing was so frazzled after it was over, he piddled in the carrier on the way home as he lay there, totally shot.

Needless to say, this warranted a bath -- something on a cat's top-hated list, I'm sure. So after we got home, I had to give him a thorough washing in the tub and dry him. He spent the rest of the day giving me the stink-eye from under the bed and hissing when I dared to pet him.

Grand total spent at the vet: $280.
--Shots: $100
--Exam: $50
--Bloodwork: $110
--Cleansing solution for his ears: $20.

Yes, $20 for the solution. Krashy has a lot of wax buildup and icky stuff in his one ear, so the vet offered the solution for it. It's a 12-oz bottle -- I'm sure something smaller would have been sufficient, but this is what I got. That means I'll have to clean the furball's ears soon, too, but we're saving that torture for another day. Krashy's JUST come around to me again after a few hours stewing upstairs.

Krashy, after bath.

I'm not going to complain about the $280 -- as an animal lover, I want to take care of my pets. The bill was paid in cash, not credit, which is good. But it left me wondering about pet insurance. Is that the way to go? I know when it comes to people, health insurance is a big necessity -- especially with the ridiculous costs involved.

But what about pets? I've spent a lot of our two cats over the years. Krashy had $900 dental surgery two years ago, and when we rescued Misfit from the streets as a kitten, we easily spent $1,000 at the vet getting him "house-ready" (he had tapeworms, needed shots, neutering, etc.).

There are pet insurance options that include coverage for accidents, illness and wellness. For example, Purina offers its own program, with deductibles between $100 and $1,000. But like life insurance, the premiums go up by age. Misfit, 2, would have a premium anywhere from $7 to $20 monthly depending on the options chosen. Krashy, at age 11, would cost $45 to $60 monthly. That's $720 a year for the most comprehensive plan. Over a few years, that really adds up. But for the younger cat, $20/monthly is $240 a year.

A normal exam and shots averages $125 yearly, taking into account one shot is biannual, while rabies is annual. This doesn't take into account any illnesses, such as Krashy's gum disease that led to his dental surgery and removal of most of his teeth (poor kitty).

It's not cost-effective to get pet insurance for our older cat, but it is an option for our younger one. But is it worth it? Does anyone have pet insurance on their cat or dog?

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Unfinished Projects Around the House: Making More of a Mess

noreply@blogger.com (RainyDaySaver) — Mon, 02 Nov 2009 17:58:00 +0000

I finally got out of the house this weekend, after being home from Tuesday through Friday due to illness (except for a trip to the doctor and the pharmacy). We attended two different Halloween parties Saturday night -- Mr. Saver was Popeye, and I was Olive Oyl -- even though I abhor dressing up, I do it every year.

It was while at party #1 that I was admiring the nice, clean aesthetics of our friends' house. Each room was painted a different, neutral-but-pleasing color complemented by white trim. That's when I fully realized what I wanted to do to our house -- paint all of the crappy wood trim.

We have nice hardwood floors, but all of the baseboard and door trim is unevenly-stained wood in various shades of golden oak tone. Some pieces are darker than others, and most have specks from the ghost of paint jobs past. Even the doors are stained in the same golden color. It irks me to no end.

So while our upstairs room is still gutted (put on hold due to weddings/sickness), I'm going to fill the time in between with this new project. I plan to sand and prime the trim, remove any quarter-round molding by hand to paint, since it's flush to the wood floor, and make everything nice and white. It will be painstaking work, but will contrast nicely with the light cream walls.

Today, I took off the door-stop molding in the kitchen doorways, left behind when I took off the doors to the dining room and the hallway -- why they were there, I'll never know. The wood underneath is unstained. I'll have to fill in the spaces left by the hinges, but the paint will cover that up nicely. I want to paint the door jambs in all doorways for consistency's sake.

This means another trip to Home Depot for semi-gloss paint. I already have primer left over from the porch room revamp.

Eventually, I want to re-paint the living room another color once we decide what color living room furniture we'll be getting, but that won't be until March or so, when our tax refund comes in. For now, I'm content just browsing the websites of every furniture store imaginable.

Hopefully, we can get the lumber in this weekend and start finishing up the second-floor bedroom. Gotta get it done so we can torture ourselves by doing the other room after the holidays.

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Saturday Link Love

noreply@blogger.com (RainyDaySaver) — Sat, 31 Oct 2009 13:21:00 +0000

It's Saturday, and it's Halloween. Time to sugar-up the little Trick-or-Treaters with candy and get our own costumes going. A lot of friends have been going to haunted houses and other Halloween-themed events, but I'm not into the scary stuff. I don't even like to watch horror movies!

You know what's REALLY scary? Our fridge after me being sick for a week!

This looks like the fridge of a few bachelors I know. I haven't gone food shopping or made a real meal all week, so Mr. Saver has had to fend for himself.

And don't forget, daylight savings time starts late tonight. Turn back those clocks at 2 a.m. -- those of you who will still be out partying at that time will love the "extra hour" you'll be getting.

As for the links I liked this week, I'm going to try to do this every Saturday -- but don't get mad if I slip up now and then!

This Saturday's links:

"Cash is king, but do you really spend less when you pay with it?" by Adam at Your Money Relationship.
He explores what's "safest" when it comes to spending -- cash, debit or credit.

"Lunch for under 2 bucks" by Little House at LittleHouseintheValley.com. She breaks down how much her breakfast and lunch cost her, and it's impressive. I can totally relate to that!

"What you lose when you cash out a 401(k)" by Miss M at MisforMoney.net. She believes tapping your 401(k) for money is a mistake. Should it only be a last resort?

"How much interest am I paying? Hint... It's less!" by Matt Jabs at DebtFreeAdventure.com. Calculate how much you're paying in interest on your debts, and you might be surprised by what you discover. Matt offers ways to reduce how much interest you're paying each month.

"13 minutes to a lower cable bill" by Stacy Johnson at Wisebread.com. An example of how it's possible to haggle with your service providers. Although I've never only spent 13 minutes on a call -- being on hold takes at least that long, if not 30 minutes to an hour...

"How to pay off your mortgage early (4 methods)" -- by me! -- at ChristianPF.com. It's my first guest post, so I'm pretty proud of it. Find out how you can pay down your mortgage before the term is up.

PSE&G Finally Caught Up With Us

noreply@blogger.com (RainyDaySaver) — Fri, 30 Oct 2009 19:56:00 +0000

It was bound to happen. The day we closed on the house, our utility provider, PSE&G, read the electric and gas meters. Well, read the gas incorrectly, it turned out. And it's time to pay the piper.

Since moving in at the end of June, we only got one utility bill -- $54, for 3 weeks. It was still cool-ish out, so we didn't need the air conditioner all that much. I let the meter reader guy in to do his thing in mid-July, and found that it wasn't 9300 (i read the meter myself and knew it was off), it was more like 8900. So from mid-July until now, we had not received a bill. I thought, "Hey, maybe we're getting the 400-therm difference as a credit. Wouldn't that be great?" So I put off calling PSE&G to figure it out. I would log onto my online account, and it would just say "0" for the meter reading every month for the past three months. Awesome, right?

Wrong.

Today, the PSE&G mystery was solved -- we got our bill. And it was only $400, despite covering the months of high A/C use (August/September) and the last month of heat usage (I turned up the thermostat a LOT earlier this month).

Looking at the fine print, it seems the utility provider credited us that $54 we actually paid from the July bill, and recalculated everything from then to now. That's four months. And $32 of it is our Worryfree contract, which covers the oven, cooktop and furnace. So 400 bucks divided by 4 is $100 per month. How awesome is that? Of course, the gas bill is estimated, since I haven't been home to let the meter reader in since July, but I just read the meter myself and they're only a few therms off.

I'm quite pleased, actually. Not that I have a big $400 chunk of a bill to pay in the next two weeks (along with all of the other bills that have arrived), but I have hope that the winter may not be as terrible on our heating bills as I thought it would. I budgeted $300/month for PSE&G, so we're below budget on that. It's more than likely we'll reach that figure in the colder months of December/January/February, but at least the money's there.

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Halloween Candy Is Not My Friend

noreply@blogger.com (RainyDaySaver) — Fri, 30 Oct 2009 02:52:00 +0000

After a trip to the doctor this morning -- where I was further tortured thanks to my 1-hour holding pattern in the waiting room -- I went straight to CVS to fill my prescriptions. Verdict was the flu and a sinus infection, by the way. Two comments that cracked me up the past two days: "It's not that swine flu shit, is it?" and "You should ask for a new immune system for Christmas!" Yes, yes, I know. My immune system apparently isn't a friend of mine. I've already got an autoimmune disease, what's another bout with the flu?

Thanks to the 15-minute wait, I wandered over to the candy aisle. Mr. Saver wanted me to wait until the very last minute to buy the candy, because he didn't want it in the house too long. I don't blame him; we love our candy. And between the two of us, there wouldn't have been any left if I'd bought it further in advance.

So I came home with two bags of mixed candies (Reese's, M&M's, Skittles, Starburst, KitKats, Whoppers, Jolly Ranchers and Take 5). And a third bag of Mounds bars. Oh, how I love the mix of coconut and dark chocolate... like manna for my soul.

And I probably should mention that I dropped $30 on those three bags of candy, had no coupons, and nothing was on sale -- whoa, Nic is off her rocker. Sadly, that's about as impulsive as I get, going to the store without coupons or a plan. But I'm sick -- that's my excuse and I'm sticking to it.

We've already ripped into two bags, despite the fact that I can't taste a damned thing, can hardly swallow and have been barely conscious, sleeping most of the past two days.

Now I'm going to finish watching the rest of the Yankees game and pass out, once again. I'll tackle our stack of bills tomorrow evening.

Tips for Avoiding the Flu

noreply@blogger.com (RainyDaySaver) — Thu, 29 Oct 2009 14:00:00 +0000

Well, based on the fact that I slept until 2:30 in the afternoon yesterday, had a 101-degree fever, chills, headache, cold and extreme fatigue, I'm calling it as I see it - I've got the flu, again. Couldn't get a doctor's appointment yesterday afternoon, so I'm going this morning. Still feeling incredibly crappy, but with a lower fever. Wonder if they'll bother to swab me to see if it's "regular flu" or swine flu. Last time I went to the doctor with the flu, I couldn't even get the antiviral prescription filled, as the pharmacy was out of it. And you're supposed to take it no later than 48 hours after the onset of flu-like symptoms.

Except for last fall/winter, when I got the flu shot, I've been a top target for the flu, getting it at least once per season, and more often than not, twice. I was on the list for the seasonal flu shot, but it's been five weeks and I got no phone call to get stabbed in the arm. I guess my body just refuses to fight off this kind of illness. This despite the fact that I've been a maniac with the hand sanitizer at work for the past year or so.

Here are a few tips for stopping the spread of the flu -- trust me, you don't want it:

1. Wash your hands often with soap and water, and supplement with alcohol-based hand sanitizer.

2. Cover your mouth with a tissue when you sneeze or cough, and throw it out immediately. My father likes to throw tissues in the toilet to really contain any germs.

3. Avoid touching your face Putting your hands on your mouth, nose and eyes just gives the germs an easy way in to your body. I'm a face-toucher, so that's probably my main problem.

4. Stay home if you're sick. Don't go to work or school, as that will cause the flu to spread to others.

5. Avoid contact with sick folks. Easier said than done if you have a spouse or children at home.

6. See you physician. Your doctor can prescribe antiviral medicines like Tamiflu to help manage your symptoms.

Hopefully I'll be over this quickly, because being sick is no fun... no fun at all. I'd rather be at work!

Check Out My Guest Post Over at ChristianPF.com!

noreply@blogger.com (RainyDaySaver) — Wed, 28 Oct 2009 19:05:00 +0000

I'm happy to announce that my first guest post, "How to pay off your mortgage early (4 methods)" is up over at ChristianPF today. Thanks to Bob Lotich for featuring it. Readers, please check it out, he has a very informative site.

Making Progress

noreply@blogger.com (RainyDaySaver) — Wed, 28 Oct 2009 16:00:00 +0000

We haven't had much time to work on the upstairs room, but I did start to put up the rafter vents. I did the lower portions of the roof, but we need to grab my father-in-law's ladder to do the higher ones. And since I'm scared of heights, by "we" I mean not me!

Hopefully we can finish up the venting and do the roof insulation this weekend, then start to dismantle the electrical in order to replace all the BX with Romex. I'd really like to get the room set by the holidays. I'll still have to decide what color to paint the walls. It will temporarily be our bedroom, while we're doing the other room, but it could also stay as our permanent bedroom -- it's the same size and shape as the other room, but only has two closets, instead of three (oh, the tragedy, I know... but I am a chick).

I have so many ideas for this house, but I have to remember that I also have plenty of time to accomplish everything.

Lower Your Interest Payments

noreply@blogger.com (RainyDaySaver) — Tue, 27 Oct 2009 17:41:00 +0000

Matt Jabs over at Debt Free Adventure has a thought-provoking post today -- "How Much Interest Am I Paying? Hint... It's Less." That inspired me to total up the monthly interest payments on our debt.

1. Mortgage -- This is the biggie. $1200/month to interest alone!
2. Credit Card #1 -- $10.91 this month
3. Credit Card #2 -- $14.25 this month
4. Auto loan -- 0% financing means no interest. But it's still a debt.

Thanks to a low-interest balance transfer, we're have a 1.99% interest rate on credit card #1. We're focusing most of our efforts on credit card #2 due to its 10.9% variable interest rate, but I plan to have that paid off by January.

Besides the interest payments, think of what we could do with the extra $700 or so we throw at credit card debt per month! That would be a nice chunk to add to our monthly savings.

Apparently, I unintentionally subscribe to the Suze Orman school of thought when it comes to saving for an emergency fund and paying off CC debt. I like to do both, because our EF is a bit anemic, in my opinion, thanks to the home purchase (we put 20% down to avoid private mortgage insurance and to get a better mortgage rate). So I'm not putting as much toward the credit cards as I could each month, because I'm also funding our emergency savings. I'd rather have some money set aside for a rainy day than have the credit cards paid off and nothing to fall back on, leading us into the trap of using credit again. I think we have a nice balance right now, and although it will take us a bit longer to pay off the credit cards, it's the way to go in our situation.

Planning For the Future

noreply@blogger.com (RainyDaySaver) — Mon, 26 Oct 2009 15:54:00 +0000

No one knows what the future will bring. You could find yourself steadily working for 40 years and retired. You could be awash in debt. You could find yourself with a nice inheritance -- or flat broke. That's why it's important to always watch your finances -- not just in times of uncertainty.

Sure, we all had a good scare last year with the recession (which I'm not sure we're out of, yet). Many people have been losing their jobs as a result, or facing pay cuts, and suddenly realized they were likely living above their means. Household budgets were adjusted, and being frugal suddenly was the thing to do.

Now that the stock market at least is bouncing back and things don't seem so ominous for the economy, how many people out there are still practicing their frugal ways? I'm willing to guess less than half, with that number dropping as more positive news emerges.

Mr. Saver and I have been lucky -- we're still both employed and have been able to pay our bills and save and spend as we have been. I'd like to think that my frugal ways have helped our cause, but the truth is, there are still things we could work on when it comes to spending less and saving more. We're still working on paying off our credit card debt and still need to pad our savings account to have 6 months worth of expenses in case of emergency. Our 401(k)s are still being funded, although not to the point that J. Money's been doing over at Budgets Are Sexy.

I'm still working on ways we can become more frugal. Now that our wedding obligations are done(congrats to the new Mr. & Mrs. Scott Wiese!), we'll have more cash at our disposal to put toward the credit cards and emergency fund. I've been slipping up a bit with missing deals at the grocery store, but I'm ready to get back on track. I've still been putting extra toward the mortgage each month, and trying to have a light touch on the heat this season.

I don't intend to stop being as frugal as I can -- it's just in my blood, I suppose.

Weekend of Fun

noreply@blogger.com (RainyDaySaver) — Sat, 24 Oct 2009 15:00:00 +0000

Mr. Saver and I are in our friends' wedding tonight, and we're so looking forward to it! It's a shame the weather doesn't plan to cooperate -- rain, rain, rain all day. I may be a "rainy-day saver," but I like my rainy days in the figurative, not literal, sense! Should be a minimal-spending weekend, except for the hotel room we're staying in after the wedding.

I probably won't be making much progress when it comes to the upstairs room we're renovating, but I plan to try to put up some of the roof ventilation covers this weekend, thanks to my handy new tack hammer.

Other than that, we're going to take it easy, enjoy the beautiful, colorful changing leaves and relax. Unfortunately, where there are colorful leaves, there are tons of dead leaves on our lawn. I'm not looking forward to raking, that's for sure.

We have two Halloween parties to go to next Saturday (and had to turn down a third invite). I'm not much for the dressing up part of the holiday, but I'm definitely in favor of the candy part! Maybe I'll grab a few pumpkins on Sunday and carve them to decorate for Halloween.

Hope everyone is enjoying their fall weekend!

8 Ways to Save on Heating Bills

noreply@blogger.com (RainyDaySaver) — Fri, 23 Oct 2009 14:00:00 +0000

It's that time of year again where I go off on my tangent about heating bills. We had a few days last week where the high temperatures were in the 40s and evening temps around 30 degrees, so it was time to fire up our furnace.

Our utility company has lowered prices compared to last winter, which will be a boon to a lot of people in New Jersey. Of course, this comes after the prices were raised the last two winters. The difference for us now is that we have an entire house to heat, rather than a smaller apartment. We're going to have to get creative to save money on our heating bills. We don't have zoned thermostats. Also, our back room (four-season porch) had a gas heater, but it was leaking and I had them cap the line back in the summer, so now we either leave the door closed and keep it unheated (probably bad for the TV back there!) or keep it open and let the heat flow in from the rest of the house.

We're also going to insulate the hell out of the upstairs room we're renovating. This includes putting new insulation on all exterior walls and the ceiling rafters, and also laying insulation across the ceiling from the attic. The 50-year-old wool insulation we pulled out just wasn't doing the trick.

Here are a few ideas for saving on your heating bills and winterizing your home:

1. Installed zoned thermostats. Why heat the first floor at night when you're sleeping on the second floor, and vice versa during the day?

2. Buy a digital thermostat. Many can be programmed for weekdays and weekends, with 4 or 5 temperature changes during the day. Use it to drop the temp down at night, raise it in the morning, drop it again after work, raise it for evening and lower it again at bedtime. It's easier than trying to remember to make all the temperature changes each day, and is generally more accurate the typical mercury-filled thermostats.

3. Close off unused rooms. Shut off the radiator or close any heating vents in empty rooms and keep the door closed. Why heat a room you're never in?

4. Use high-grade insulation. Naturally, this isn't a reason to rip down your walls, but if you're renovating, use the best stuff you can get to keep as much of the cold air out as possible.

5. Seal the windows. Drop the storm windows down for the season, and use foam weatherstripping or caulk around windows. Or try clear plastic sheeting for a tighter seal. If all else fails, replace the windows.

6. Insulate electrical outlets. Little did I know when I took off the old metal outlet covers that the foam inside wasn't for padding -- it was for insulation purposes!

7. Stop drafts from the attic space. Line the roof and ceiling rafters with insulation, or add more to existing insulation. Up to 12 inches thick is recommended to best results.

8. Replace your furnace filter. Dirty filters make the furnace less efficient -- replace it every month or two, as needed.

Why Coupons Aren't All They're Cracked Up to Be

noreply@blogger.com (RainyDaySaver) — Thu, 22 Oct 2009 15:02:00 +0000

Don't get me wrong, coupons save you money. I routinely save 10% off my order with manufacturer coupons alone, clipped from the newspaper each week or printed out from websites. And it's especially great if your store doubles or triples them, for extra savings.

Some people can do amazing things with couponing, like getting $100 worth of groceries for $20. They live for clipping coupons, comparing deals at different stores, and combining offers so that they wind up getting some items for pennies, or even for free.

While I don't mind getting toothpaste for 25 cents or shampoo for nothing, I don't always need a free scent warmer or a million spray air freshener cans on buy-one-get-one deals. I can only use so much stuff, and half the time, the scents are awful.

Here's the big question: Do coupons make some people spend more than they normally would, just to get a "deal"? Sure, that's the intent of coupons -- to make you become loyal to their brand, no matter the price, or to just get you into the store. My local ShopRite does this with circulars that offer a coupon for $5 off a $50 order. Sounds good, right? But what if you only planned to spend $30? They're counting on folks spending $50 so they can use the coupon to get a "deal."

Same goes for the "Spend $300 and get a free turkey or ham" promotions. "Oooh, a free turkey!" But don't spend $300 on groceries just for the freebie. You might save more money by just shopping as you would, spend $200 on groceries during those few weeks, and then buy the darned turkey yourself for $15. That's $85 you kept in your wallet.

I only use coupons for the products I actually buy, and I'll buy a different brand of a certain product if it's a better deal and the same quality. And sure, when a new product is offered, sometimes the initial coupons are enticing enough for me to try the new, free roll of Marcal Small Steps paper towels, or a new cereal. But I won't buy things just because there's a coupon for it. We avoid most prepackaged food like macaroni and cheese or Hot Pockets, so that eliminates a lot of coupons for us. But I'd rather have the peace of mind that we're eating (relatively) healthily.

Do you get conned by coupons? Could they be enticing you to spend more than you normally would?

Bummed Out by Tacori Earrings

noreply@blogger.com (RainyDaySaver) — Wed, 21 Oct 2009 15:09:00 +0000

Yes, they are Tacori -- but Tacori for QVC.

A few weeks ago, I explained how I lost my darned diamond hoop earring during Phase One of Operation Knotty Pine. Well, I decided that instead of gold-and-diamond earrings, I'd go with silver and cubic zirconia or something similar. Found a really cute pair of Tacori "huggie" hoop earrings (meaning they "hug" the earlobe, the way I wanted) on QVC.com for $88, in silver with a platinum overlay.

No way was I paying full retail price -- I found a pair on eBay for $32.

They came in the mail, really quick shipping, and I couldn't wait to wear them.

But I'm disappointed. While they're pretty, they're not the "huggie" style -- they're more like a small-to-medium-sized hoop. And they're HEAVY, pulling on my earlobe. Bummer, dude.

Perhaps I may actually have to buy myself another pair of the hoops I originally had. I can perhaps sell some old gold jewelry I'm no longer fond of to make up some of the price!

Making Passive Income Work For You

noreply@blogger.com (RainyDaySaver) — Wed, 21 Oct 2009 13:12:00 +0000

How great would it be to have a revenue stream (or three) that provides you with income without you really trying? That's passive income.

There's nothing wrong with having more money in your pocket, right? Of course not! Especially if that extra cash helps knock out your debt, pay your rent or mortgage, or fund your retirement.

Passive income can come from a number of sources:
1. Interest off savings you've socked away
2. Dividends from stocks you own
3. Advertising income from a web site
4. Book or music royalties
5. An invention you've patented

I know a few people who are looking to go this route. But it's important to remember that you can't truly COUNT on passive income. It's nice to have, but you never know exactly how much it's going to net you. Unless you have multiple revenue streams, you'll still need a day job. For example, I get royalties payments for my book, "Images of America: Belleville," twice a year. Each check could be $200, or it could be $50. While $100 or $400 a year is nice to have, it's not going to pay the bills. But I can put that money toward credit card debt or savings -- I usually choose the latter.

Initially, creating passive income requires SOME of your time -- setting up a blog or a website, writing that book, making those investments. But once you have a (fairly) steady stream of income, it will be worth it.

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Wedding Expenses

noreply@blogger.com (RainyDaySaver) — Tue, 20 Oct 2009 13:01:00 +0000

While Mr. Saver and I got married back in April, we're in another wedding coming up this weekend. We're super-excited and have been looking forward to the festivities. But it does seem a good time to point out the expenses involved in being in weddings --- dresses, tuxedos, events, gifts, hairdos, nails.

If you haven't been in a wedding before, here are a few things to budget for if you're asked to be a bridesmaid or a groomsman:

WOMEN:

-- Bridal shower
-- Bridal shower gift
-- Bachelorette party
-- Bridesmaid's dress
-- Dress alterations
-- Accesories (shoes, purse, jewelry)
-- Hairstyling for the wedding day
-- Makeup by a professional
-- Manicure/pedicure
-- Wedding gift
-- Hotel (if wedding is a distance away)

MEN:
-- Bachelor party
-- Tuxedo & shoe rental
-- Wedding gift
-- Hotel (if wedding is a distance away)

If it's a destination wedding, the costs go up exponentially -- factoring in airfare, lodging, transportation and food/entertainment costs.

For me, it's costing about $1,000 to be in the wedding (Fair's fair: the soon-to-be-newlyweds were in ours, too!). Mr. Saver had it easy at $300. But we did something smart: Instead of us just trading wedding gift $$$, since our weddings were only 6 months apart, we just called it a wash. Why pass money around? We thought it was a good idea.

Of course, there are ways to cut costs, but this is how we do it in Jersey. Plus, it's nice to pamper yourself with a makeup artist and hairstylist every once in a while. And in true Rainy-Day Saver fashion, I'm using a gift certificate for my manicure/pedicure, so all is not lost, my friends!

Skinned knees and homeowners insurance

noreply@blogger.com (RainyDaySaver) — Mon, 19 Oct 2009 12:00:00 +0000

In another glaring instance of my lack of balance and grace, I fell UP the front steps of a friend's house over the weekend. It was all of two steps, and somehow my sneaker-clad feet tripped up on the first step, causing me to fall forward and land on my left knee. Both heels of my hands took the brunt of the fall without major damage, but my left knee was not so lucky. I skinned it pretty good, also bruising the top somehow. Some peroxide and a big bandage later, I joined the party I was there to attend. Unfortunately, my favorite jeans were not so lucky -- there's a nice, wide rip in the knee.

While I was fine with nothing more than a little-bit bloody scrape (like I would have gotten as a 10-year-old falling off my bike), the scenario brings to mind the importance of homeowners insurance. What if a visitor fell down the stars and broke a leg, or worse, their neck or back? Legally, they can sue you to cover their medical bills and for pain and suffering. Would your insurance cover any such liabilities?

In this litigious age, it's more important than ever to have homeowners insurance with a personal liability clause to cover incidences where someone gets injured on your property. But is the $100,000 or $300,000 coverage enough? Choose as high of a limit as you can afford -- sometimes, the difference between $100K and $200K is only $15-$20 more annually.

You can also purchase an umbrella policy. Think of it as extra insurance -- that's what it is! It goes above and beyond your homeowners insurance's personal liability coverage to help cover any loopholes. Insurable amounts can be in the millions. Consider your assets and total worth, and go from there.

For example: Someone slips and falls in front of your property on an icy day. They sue you, and you're ordered by the court to pay $500,000 in damages, but your homeowners insurance only covers $200,000 of the judgment. Who's stuck with the other $300,000? You! That's where an umbrella policy comes in. With a higher amount of coverage, it would then pick up the other $300,000.

Of course, no one wants to be in that type of position, but it's better to be safe than sorry!

New Look for Rainy-Day Saver

noreply@blogger.com (RainyDaySaver) — Sat, 17 Oct 2009 15:00:00 +0000

It's been a long time coming, but a blog post over at Jessie's Money finally got me to move on it. I had altered the look of Rainy-Day Saver earlier this year, trading the hard-to-read colorblock background for white, but I wasn't really satisfied. So I've found a nice, clean template theme to make it easier to read and navigate around this blog. Hopefully, everything is place correctly. If not, please let me know by using the "Contact" button up in the navigation bar.

A little Saturday Link Love -- posts that piqued my interest this week:
-- J. Money @ BudgetsAreSexy's "So What If People Make Fun of Our Frugality" post is featured on MSN's Smart Spending blog -- and yours truly plays a small part in it. One of an ensemble cast, of course!
-- Little House @ Little House in the Valley's post "Stocks Going Crazy...Is That a Sign the Economy is Improving?" wonders if the economy is officially in recovery mode, and hopes consumers have learned to, well, consume less.
-- Frugal Dreamer @ Frugal Dreamer posted "Grocery Spending & Meal Planning," which inspired me to think about planning and making our dinners in advance.
-- And in the "things that make you go hmm" category is MoneyMateKate's "Indecent Proposal: We All Have a Price -- What's Yours." It's exactly what it sounds like -- you do remember the infamous Robert Redford/Demi Moore flick by the same name, don't you?

My Metro Area Is In "Recovery" -- How About Yours?

noreply@blogger.com (RainyDaySaver) — Fri, 16 Oct 2009 12:00:00 +0000

I came across an interesting chart yesterday that claims the "recession has ended" in 79 metro areas across the United States. Msnbc.com and MoodysEconomy.com broke down the information into an interactive map that shows the states that are in expansion, recovery, at-risk and in recession -- although as far as my half-blind eyes can see, all states fall into either the "recovery" or "in recession" categories.

Click on your state, and it breaks down the data for particular metro areas. Mine, the Newark-Elizabeth metro area, is one of 2 of New Jersey's 10 metro areas said to be in recovery (sounds like an addict!). Interestingly enough, 3 of the NJ "metro areas" include portions of New York, Pennsylvania and Delaware. We just can't have ANYTHING to ourselves, can we, my poor Garden State? It's bad enough we have to share the Giants and the Jets, while NY is trying to steal the Nets. But that's a sports post that you, dear readers, will never see.

With the Dow Jones Industrial Average topping 10,000 this week (and staying there the last two days), it certainly feels like things are looking up, economy-wise. But I think the real test will be how consumers spend this holiday season, and whether jobless claims and unemployment rates come down.

I can't say I've been putting much money into the economy, and it's looking to be a no-spend weekend, unless we can get moving on the electrical upstairs in our now-stripped spare room. With the nor'easter we're getting, it will be the perfect opportunity for staying home, cleaning and cozying up with comfort food and maybe a movie or two. Whatever you do, have a great weekend!

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$8,000 First-Time Homebuyers Credit May Be Extended

noreply@blogger.com (RainyDaySaver) — Thu, 15 Oct 2009 17:09:00 +0000

The Associated Press is reporting that the U.S. Senate may "extend and expand" the first-time homebuyers tax credit that's set to expire December 1, which was part of the original stimulus package back in May. Buyers who haven't owned a home in the past three years are considered first-timer homebuyers, and make less than $75,000 ($150,000 for couples), can claim the credit on their 2009 tax returns.

The proposal would extend the credit to June 30, 2010, and up the income levels to $150,000 for singles and $300,000 for couples.

While I applaud the government for wanting to keep a good thing going, I'm against raising the income levels. Call me cynical, but if you make that much money, you don't need this "stimulus." The help should be for those struggling to buy their first home, not those who want to "buy big" and get $8K for doing so.

As first-time homebuyers well below the salary threshold, we qualified for this tax credit, and we can't wait to file our tax return for this year, that's for sure. Combined with the deductions for mortgage interest and property taxes, our refund will give us a nice savings cushion for next year.

Capital One Raising Credit Card Spending Limits?

noreply@blogger.com (RainyDaySaver) — Wed, 14 Oct 2009 19:46:00 +0000

At least they are, for me. I've had a Capital One credit card since 2003, and the credit limit has always been the same: $5,000. Yesterday, lo and behold, I got a letter from the company essentially telling me, "Hey, we doubled your limit to $10,000! Go spend!"

I find it extremely odd, given just a few months ago, credit card companies were tightening their belts in the face of the recession, dropping spending limits and customers who weren't actively using their cards. Not only did Capital One warn me that my interest rate will rise in January 2010 (conveniently, less than 3 months away), I have a credit card company cut my limit in half, from $30,000 to $15,000 (granted, I didn't reach anywhere near either limit, EVER), and I had Chase outright cancel my card due to inactivity.

Originally, I was concerned about how the closed card and the reduced credit limit would affect our house-hunting -- would banks give us a higher interest rate because of a less-favorable debt-to-credit limit ratio, despite excellent credit? Luckily, we didn't have to worry about that.

Now, knowing our Capital One card will raise rates in January, I've been on a tear to pay it off by then, and it's looking good for January being the final payment toward that debt. That would leave us with one card left to pay off. I've been throwing less at it because the balance is at 1.99% interest, and focusing on the Capital One card, which has been fluctuating monthly from 9.9% to 11.99%.

So what's with the loosening of credit lines? I figure companies would still be reducing available credit to customers.

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