Holiday Shopping Tips

Here is a good quick read article with some good advice on how to save around the holidays. The reason I put up this article is because I think it has a couple different ideas. (Ten Ways to Fatten Your Wallet on Black Friday)

Costs of Raising Children

Here is a depressing article that reminds me that it is going to be very costly to have kids. This article claims that the cost to raise a kid are way above what they should be and economically speaking it doesn't make much sense to have children. This is a good read, but keep in mind most people don't make the decision to have children based on economics. On the other hand several people do chose not to have children based on finances. Just keep in mind when planning for children that there are great impacts on your finances. (Is Raising Kids a Fool's Game?)

Pet Ownership Costs

This is a fresh look at the cost of owning a dog. The author brings up the fact that there is more to money than just want it buys you. When you buy a dog you don't just get shots and food with the money you put out. You get a friend which you can't measure the benefits of. (A Not So Shaggy Dog Story)

Before Baby Set Up Costs

The following has the costs of individual items required before bringing a baby home. The ranges are varied for simple reasons. You can go all out on every little thing or can get reasonable pieces that work.

Nursery Setup: $2,000

Crib with a mattress ($160 and $750)
Bedding set ($35-$270)
Crib blankets and sheets ($8-$20 each)
Mattress cover ($10-$20).
Changing table ($70 and $600) then add $40 for a changing pad and cover.
Dresser ($90 and $650)
Rocking chair ($90-$500).

Ways to save: Do your nursery furniture research and prioritize. You may want to spend more on the rocking chair to use for future generations, and less on the crib and dresser.


Items for outside the nursery: $1,500

Stroller ($30-$300)
Car seat ($35-$280)
Playpen or portable crib ($60-$180)
Baby carrier or sling ($20- $140)

For at home:
Swing ($45-$130)
Play center ($50-$125)
Bouncer seat ($30-$90).
Monitor (about $80)
High chair ($45-$240)
Diaper bag (about $35)
Baby gate ($35-$250).

Ways to save: Buy double-duty gear. Some strollers convert to high chairs for an easy switch at the restaurant; and many diaper bags can take you from newborn to toddler in function and style.

10 Little Expenses That Add Up

Coffee: According to the National Coffee Association, the average price for a cup of brewed coffee is $1.38. There are roughly 260 weekdays per year, so buying one coffee every weekday morning costs almost $360 per year.

Cigarettes: The Campaign for Tobacco-Free Kids reports that the average price for a pack of cigarettes in the United States is $4.54. Pack-a-day smokers fork out $1,650 a year. Weekend smoker? Buying a pack once a week adds up, too: $236.

Alcohol: Drink prices vary based on the location. But assuming an average of $5 per beer including tip, buying two beers per day adds up to $3,650 per year. Figure twice that for two mixed drinks a day at the local bar. That's not chump change.

Bottled water from convenience stores: A 20-ounce bottle of Aquafina bottled water costs about $1. One bottle of water per day costs $365 per year. It costs the environment plenty, too.

Manicures: The Day Spa Magazine Price Survey of 2004 found that the average cost of a manicure is $20.53. A weekly manicure sets you back about $1,068 per year.

Car washes: The average cost for a basic auto detailing package is $58, according to Costhelper.com. The tab for getting your car detailed every two months: $348 per year.

Weekday lunches out: $9 will generally cover a decent lunch most workdays. If you buy, rather than pack, a lunch five days a week for one year, you shell out about $2,340 a year.

Vending-machines snacks: The average vending machine snack costs $1. Buy a pack of cookies every afternoon at work and pay $260 per year.

Interest charges on credit card bills: According to a survey released at the end of May, the median amount of credit card debt carried by Americans is $6,600. The average interest rate on a standard card is about 13%. Making the minimum payment each month, it will take 250 months (almost 21 years) to pay off the debt and cost $4,868 in interest. Ouch!

Unused gym memberships: Costhelper.com reports that the monthly service fee at gyms averages between $35 and $40. At $40 per month, an unused gym membership runs $480 per year.

Mistakes in Retirement Planning

(Nine Dumbest Retirement Moves) This article has a good list of common mistakes that take place on the way to retiring. It brings out some good points about what people do and what people think about retirement that can change how they exist in retirement. It also mentions several times that miss planning for retirement can turn your dream into a nightmare. When you don't save and plan adequately your dream of life in the beach house can turn in to a place of struggling to make your payments and looking for help from your family. Even when you are young simple things like cashing out of a 401K plan when leaving your job can create a financial hole when you retire. When you are young you should consider how your descisions are going to affect the long term.
The key to this advice is to learn from the problems that are being found commonly in those that have already retired. People struggling from payment to payment due to inflation is a lot more common then you might think.

The Declining Dollar

(What the falling dollar means for you) I keep hearing about the declining dollar and no one will stop to take the time to explain what it means to the average person. This article gives a short list of how this affects the average person.

Wedding or a Million Dollars?

(Want $1 Million? Elope) When you are looking at the front end of getting married you should remember the aftermath of your decisions. Your wedding day is only one day of your life. The debt you accumulate can literally affect the rest of your life. This is an article that points out that if the average amount spent on a wedding was invested, that by the time the couple retires they could easily have a million dollars. The article points out that the typical wedding involves debt to cover the costs. This debts pulls the opposite effect of the investing your wedding fund money and ends up costing you even more and impacting your life for even longer. The article then gives some tips on how to manage your spending for your wedding day, because not having to tell your mother your eloped last weekend can easily be worth the cost of your wedding.