In the age of high-speed Internet, fast food chains and non-stop transcontinental travel, it’s easy to fall into the thinking that everything can and must happen in the blink of an eye. You want to set up a business on your own? Click click and click—your website is up and running, you have an e-newsletter ready to be sent to your mailing list and your servers are in high gear, waiting for site traffic to pick up.

These days, we think in terms of seconds and minutes, not days or months or years. We want everything instantly because we think we are entitled to it. As entrepreneurs, we fret and fidget at the slow trickle of sales and site visitors over a week-long period. As customers, we tap our foot impatiently whenever the pizza guy is late by a couple of minutes.

The sad but hard truth is that not everything can be hurried along, even with all the fancy technological gadgets and the cool new toys we use to make our everyday lives more convenient. Success, happiness, and achievements don’t happen in an instant. You have to spend time, money and effort to turn things your way and make something of yourself.

On that note, it’s important to remember that get-rich-quick schemes rarely ever succeed. If you hang in there long enough and hard enough, you just might see your dreams coming true one by one. This is called delayed gratification.

The marshmallow experiment

Psychologists were able to verify the concept of delaying self-gratification with a simple test: they put a marshmallow in front of a kid and told her to wait until they came back so she can have two marshmallows instead of just one. If the kid rang the bell to call for the tester before he’s back in the room, she can eat the marshmallow in front of her, but the other one will be forfeited.

Sounds simple enough, right? Delaying self-gratification is the idea of giving up one thing now in order to gain something better in the future. The psychological test outline above illustrated how important it is for people to hold out just a little if they wanted a bigger prize.

But this is much easier said than done. After all, why wait for another marshmallow when you already have sitting on a plate right in front of you?

This kiddie test didn’t just demonstrate how kids behave when they are tempted. Later on the psychologist followed up on the lives, careers and school habits of the children who were included in the experiment. He found out that the kids who were able to wait for the second marshmallow were generally better off emotionally, mentally and psychologically than those who settled for just one marshmallow.

The secret to success

The whole idea behind delayed gratification is that you can ultimately get what you want if you only wait long enough and work hard enough for it.

Nothing substantial comes cheap and quick. Those overnight dot com millionaires among us are the exception, not the general rule. It’s not so bad to get inspired by people who built up their wealth through fast and foolproof methods, but you have to remember that there’s no instant formula to instant success.

Scratch that—there’s something you can do to guarantee your success, but not the instant way. If you can delay gratification now and still keep working for what you want to happen, your efforts will eventually pay off. Consider the marshmallow your reward for patience and perseverance, and the victory tastes even sweeter.

Delayed gratification builds your character and makes you a more powerful force. Keeping a lid on your impulses shapes you into a better person and gives you time to rethink your options. Translated in business terms, you don’t always have to implement the first strategy that comes to mind, or grab the first client who walks in your door. With time, you can come up with an even better solution to your current business troubles, or you can close the deal with a far more important customer.

It’s all a matter of timing and willingness to look beyond what’s happening now. The marshmallow test doesn’t just gauge a person’s self-control, but also his vision and dedication. If you really want that other treat bad enough, you must bide your time until you can lay your hand on both marshmallows. With every knee-jerk reaction or impulsive decision you shy away from, you save yourself the trouble of patching things up when they go wrong later on.

This is a guest post from Ally, who is part of the team that manages Australian Credit Cards, a blog that covers topics on the psychology of personal finance. Before joining ACC, she was a Media Planner with McCann Worldgroup Philippines, Inc., with award-winning executions, including the Levi’s 501 “Live Unbuttoned” global campaign.

The Little Known Psychology of Delayed Gratification is a post from: Think Your Way to Wealth a Personal Finance Blog Copyright 2008-2010

• Mastering Frugality Series- Delaying Gratification
• Weekly Personal Finance Links- Cool Front Edition
• Developing A Burning Desire to Improve Your Finances-Part I- Motivation
• 6 Key Tips for Starting a Part-Time Business
• Amazon- $2 Free in Mp3 Downloads, $5 Video on Demand Credit

According to a Yahoo finance article yesterday, food prices rose the most in 36 years last month (from the previous month), with wholesale prices (the Producer Price Index, or PPI, which includes other things besides food prices)up the most in over 2 years. According to the article, most of this was due to a nearly 50% increase in the price of vegetables, although prices of other foods have gone up as well.

Not a good thing, if you’re trying to plan cheap and healthy meals.

Besides other factors (such as heavy rains which damaged some crops), the rise of oil prices due to unrest in the Middle East (and some speculation I’m sure) and the tragedy that is still unfolding in Japan has the potential to drive food prices even higher, at least in the short term.

My family’s grocery bill is one expense that I seem to have trouble with. Because a grocery bill varies depending on what you are buying, it’s easy for it to fluctuate; unlike your phone bill, for example. It sometimes gets higher than I would like, so I find myself trying to reduce regularly.

Here are some tips on combating rising food prices now and stop rising food prices from affecting you in the future:

Cut back on more expensive items- Even though prices on just about everything are going up, if you focus on things that are more expensive and substitute cheaper alternatives, you will have more money left over for other items in your food budget.

Eat out less- Cooking at home definitely saves you money, and if you are trying to cut down your overall food bill, cutting back on eating out is a great place to trim costs, as restaurant prices will be going up as well.

Grow your own herbs and vegetables- Growing your own vegetables or herbs can help trim your grocery bill as well. In many parts of the country, now is the time to start planting.  Want to start small? Try container gardening with herbs and other easy to grow items that don’t take up a lot of space.

Get Back to the Basics- Use staple foods like rice, beans, and basic cheap cuts of meat or poultry more often, and your food preparation prices will drop.   Check out a site like cheaphealthygood (or others) for frugal recipes and other money saving cooking tips.

Batch cook and freeze meals in advance- Preparing multiple meals at the same time can not only save money, but time as well. Cook two or three servings (for yourself or family) at one time, and freeze the extra. You’ll save off the top, and if prices keep rising, it’s almost like putting food in the bank, so to speak, hedging price increases, depending on how long you freeze them for, of course. Along those same lines, consider stocking your pantry as well.

Shop smart at the grocery store- Make a list, use coupons, check what is on sale, and follow these other tips for spending less at the grocery.
photo credit: Roebot

How to Fight Rising Food Prices is a post from: Think Your Way to Wealth a Personal Finance Blog Copyright 2008-2010

• 30 Ways To Save on Your Grocery Shopping and Food Bill
• 5 Rules for Stretching Your Food Dollar
• Save Money Grocery Shopping- Try Shopping at a Salvage Grocery Stores
• Is it Cool to be Frugal? 10 Frugal Practices You’ve Always Done That Are Now “In” Again
• Eating on the Cheap-Give Ethnic Restaurants a Try

The big new yesterday, in the tech world at least, was the announcement of the iPad 2, with a release date of March 11th in the U.S. The main upgraded/new features include:

• 2 cameras- one on each side, so you can use the Face Time  for video phone/conferencing
• Faster processor
• thinner and lighter
• video out support via HDMI
• Options for 3G via AT&T or Verizon
• New magnetic smart case that can double as a stand-  $69 extra though…..come on, Steve ;(.

Wow, sounds great, huh? Makes you want one, doesn’t it? They aren’t cheap, though.

So how does a frugal person buy an iPad?

Buy an discounted new original iPad (or iPad 1) at the Apple Store

The new version is the same price as the original iPad (what’s it called now, the iPad 1?) at least until  Apple discounted the price of the original iPad by $100 yesterday .

So if you can do without the new features, you’ll save $100 right off the bat. In other words, if  you can do without some of the upgrades- like the cameras  and Face Time, for example, you’ll save 25%.

Are you really going to walk around taking pictures with something the size of the iPad? Maybe, but maybe not, either. Do you know that many people you can chat with on Face Time that you have to have it? It seems like something you could probably do without.

Buy a used iPad 1

Some people are so fanatic about Apple, that even if they own an iPad that they bought a year or less ago, they are going to buy the new iPad 2 as soon as it comes out. Since they were originally released on April 3, 2010 (April 30th 2010 for wifi+3G model), no original iPad is even 1 year old yet.

If you are willing to buy used- and for something that is less than a year old, and likely taken care of, it’s something I would buy used if I was going to buy one-you can probably get a great deal on a used iPad in the coming weeks on the secondary market, like eBay, Craigslist, or through a private seller. Make sure they are legit though!

According to this article on mashable, the secondary market for used iPads already started dropping as of the announcement of the iPad 2, as well as Apple discounting the price of a new iPad 1 from the Apple store. So there should be good deals out there to be had on a used iPad.

Keep waiting-Don’t buy one yet

This is kind of a cop out answer, but a legitimate option. There are still a lot of things that the iPad doesn’t do, and it is not a full blown replacement for a desktop or laptop computer as of yet- I mean, you have to hook it to a computer to update it, sync w/ iTunes, etc.

There is still no way to transfer files (like a usb port), and other shortcomings that make it more or a “tech toy” than a full blown replacement for a computer.The longer you wait to buy an iPad, history tells us, the cheaper it will likely get (certainly for older models, but not definite for the latest version), and the more useful features it will have- making it more a work tool than a toy.

Now, I’m not knocking anyone who gets one, either the iPad 1 or iPad 2. I am not an Apple fanatic, but I do have an iPhone (only the lowly 3G though), which I really like, and I’m sure one day I’ll get an iPad or some other tablet computer. But when I do, I’m certainly going to try to get the best bang for my buck.

If you can avoid “techno-lust” and do without the latest and greatest, you can save some real money and still get what you want- it’s just the lure of getting the newest version of something or being one of the first to have something can be powerful, and appears even stronger with Apple products .

The iPad 2 Release Announcement and How a Frugal Person Buys an iPad is a post from: Think Your Way to Wealth a Personal Finance Blog Copyright 2008-2010

• Two Free Software Programs That Can Protect Your Computer
• Gold as an Investment: A Gold Rush or Fool’s Gold?
• Free Download of TurboTax Basic
• H&R Block At Home Federal Premium Online Tax Return- Free Code Giveaway
• Free Money Saving Tips- 66 Ways to Save Money

Over the weekend, as I was taking load of clothes out of the dryer, I realized they weren’t dry. Thinking I maybe had forgotten to even turn it on in the first place, I turned it on. 10 minutes later I checked it though, and everything was wet and cool- meaning no heat. Great- a dryer with no heat isn’t really a dryer any more.

I told my wife, and she asked how old it was, and after I told her about 8 or so years old she asked if maybe it was time for a new one.

I thought about it for a few minutes, and even checked a few prices online. I was probably looking in the $400-$500 range, at a minimum. To replace it with a comparable model would probably be more, around$500-$600.

Thinking about it a little more, I realized:

The dryer had been working perfectly fine before it stopped heating, and it is in good shape physically, not rust, etc. Also, a very handy relative had replaced the belt on the dryer about 6 months ago (the belt
itself was only about $20 or so), so that part was fairly new.

With a new belt, and after replacing whatever part it needed now, I figured it’s probably good for a couple of more years, so I decided to get a repair man out to check on it.

Turns out the dryer needed a new thermostat, and the total price including labor was about $130. Not exactly cheap, but better that $500 or so bucks.

I know this repair doesn’t guarantee me several years without having to purchase a new one- it could crap out in a few days.

But to me, I’m willing to take that risk for an outlay of 20-25% of a new one.

I don’t know what the magic ratio is, but if I start hitting 50% on a repair vs. replacement cost I would definitely consider buying new one, although new doesn’t even have to mean “brand new”. You can find lots of appliances like refrigerators, washers and dryers, and others available or sale in the paper or on craigslist- and particularly from people who are moving and don’t want to have to move large appliances.

How Do You Know if You Should Repair or Replace a Large Appliance?

Some things to consider:

• How old is the appliance?-If its really old, you may not get much more life out of it even after a repair.
• How much will the repair cost be?- Again. if the repair cost starts to become a significant amount vs. buying a new one, you may want to buy new.
• How much will a replacement be?
• Does it still operate properly?-i.e., does it have any other problems?
• Are you happy with its performance before repairing it? If you weren’t happy with how it was performing before, it may be time to replace it.
• How much do you estimate the yearly operating cost vs. a new energy efficient model? This isn’t always easy to calculate, but you may save a decent amount of money on operating costs and reduce your energy use if you buy a new, energy efficient appliance and your older one isn’t very efficient.

What about Repairing Small Appliances?

In my experience, for small appliances such as a toaster oven, coffee maker,
microwave, or even TV these days usually isn’t worth it to try to get them repaired. Unfortunately, in our throw away society these days, it often just doesn’t make sense monetarily speaking to repair these things.

Overall, I happy with my decision, and hopefully I’ll get a few more years out of it. It’s not always easy to make that decision in the spur of the moment, but I do prefer to err on the side of repair vs. replace when I can and it seems to make sense money wise.

When Should You Repair or When Should You Replace a Large Appliance? is a post from: Think Your Way to Wealth a Personal Finance Blog Copyright 2008-2010

• Cash for Refrigerators or Cash for Appliances Rebate Program Coming- Is This a Little Too Much?
• 20 Ways To Reduce Your Household Energy Use
• Cash For Appliances- Latest Information for all 50 States
• 5 Ways to Make Your Things Last Longer
• List of Tax Free Holidays by State for 2009

When you’re sitting around the house during the winter, there’s nothing worse than checking your heating bill to see how much money has gone towards heating up your cold house. In fact, in some houses, you can actually feel the money leaking from your bank account in the form of drafts around the doors and windows.

When this happens, it’s really time to take a close look at your heating bill and figure out ways you can reduce your expenses. The following are four tips for lowering that heating bill; hopefully they can apply to your situation. Feel free to add your own at the end!

Weatherproof and Insulate

It may be near the dead of winter, but it’s still never too late to make sure you have insulated everything in your house correctly. This means taking an afternoon on a weekend and checking all the points of entry in your house, areas where you think cold air can enter and warm air can escape. The most obvious places to look are your outside doors and windows, so be sure to check the weather stripping around each one. Also, examine the areas around your pipes, your sockets and switches on exterior walls, and your attic or basement entryway. You can buy specific covers for attic pull-down ladders, and you can use a spray foam for the areas around the pipes and sockets. Finally, you can choose to install storm windows for added protection.

Adjust Your Thermostat

Although there is some debate as to whether or not programmable thermostats are all they’ve been cracked up to be, there is still merit to the idea that you should use your thermostat to regulate the temperature in your house throughout the day. According to your habits, you should adjust the thermostat to comfortably heat the house when you are home, and to keep it relatively decent when you’re away or asleep. Be careful with your fluctuations and monitor your bill one winter. You’ll notice how your house and furnace adjust to the demands you are making on them; just know that it might take a little time to get the right system down.

Change the Décor

Well, this isn’t exactly décor, but it does describe some things you can do inside the house to help control the heat. You can hang heavy drapes over the windows for added insulation at night. You can put down a heavy rug over wood floors. You can use old blankets to block drafts under doors. You can rotate space heaters around the home. You can manage the registers in various rooms in a way so as to block the heat to one room you don’t use often. Really, there are all sorts of little things you can do inside the house to stay comfortable while saving money.

Wear a Sweater

Finally, you should adjust your own habits around the home. Wear more clothing, especially sweaters and robes and house slippers. These will keep you from fiddling with the thermostat. If you stay at home throughout the day, try to sit in the part of your house that gets the most sun. If you know that you need to wake up early to get to work, consider getting up ten minutes earlier in order to turn up the thermostat and start the coffee. Then you can jump back in bed for a few more minutes until the house warms up.

This guest post is contributed by Raine Parker, who writes on the topics of online accounting degree. She welcomes your comments at her email Id: raine.parker6@gmail.com.

Four Ways to Stay Warm Around the House and Save Money is a post from: Think Your Way to Wealth a Personal Finance Blog Copyright 2008-2010

• 15 Ways to Save Money on Heating Bills This Winter
• 20 Ways To Reduce Your Household Energy Use
• Watch for Companies Adding “New” Fees When Changing or Upgrading Service Plans
• Gas Under $2.00 a Gallon- Good or Bad?
• Ways to Make a Good Impression Without Spending Money

When it comes to frugality, little things do add up. The problem with small savings or “wins”  is that it takes time for small savings to equal a significant, big dollar savings.

We all have heard about giving up a latte once a week, but at $4 a week, you are looking at a savings of $208 over a year’s time. It’s good, but not necessarily enough to motivate you towards frugal living all of the time.

We like to see bigger results, and faster- $100, $500, or a $1000 in a shorter period of time seems more appealing than taking almost 5 years, like a savings of $4 per week will get you. If you just can’t get your self to cut your spending in a noticeable way, make a game out of it or a challenge- with a reward at the end, if you so desire.

Saving $1000 in 6 months seems like a good place to start- a large enough amount in a short enough period of time.

Below are a few ways you could save up $1000 in 6 months- Many of you may already be doing some or even most of these- but there are a lot of people who don’t. Even if these don’t work for you, you can probably come up with some other areas you can cut back on to reach your $1,000 goal in 6 months.

We don’t always look at where we are spending there money, and whether everything you buy or pay for is something you really need. Examining all expenditures can  lead to some areas  in your life you can cut back on expenses or ways you can save on what you spend.

photo credit: A Girl Next Door

Save $1,000 in 6 Months

Coupons- Coupons do work, if you use them properly. If you use them consistently, and only use them for things you were already going to buy, you can easily save $5 per weekly grocery trip if you spend $100 or more regularly.

$5 a week for 24 weeks = $120

Drop down a tier on your cable bill- Do you pay for more channels than you watch or really need?
Drop down a tier on your cable TV service, and you could save $15 to $20 a month.

$15 a month  x 6 = $90

Reduce your socializing- Do you go out once a week for a few drinks, or other social activity-the movies, golfing, etc.? Cut back on one a month, and the savings can add up.

$20 a month  x 6 = $120

Eat out less every month- Skipping one meal in a restaurant a month or just a couple of lunches a month during the work week can add up to real savings.

$25 x 6= $150

Cut Your own Hair (Or color it yourself for the ladies)- I just started cutting my hair again (I cut it short with clippers), so I am doing this one myself. If you are a woman and aren’t so excited about cutting your own hair, consider coloring it yourself if you pay a hair stylist to do that now.

$20 a month x 6 = $120

Buy in Bulk-You can save money buying in bulk, especially items like toiletries, household products, diapers if you have small kids, and even food. You do need to compare prices, because not everything is cheaper at a warehouse club. Also,  make sure you’re going to use it up if it has an expiration date.

$20 x 6= $120

Reduce your cell phone plan- See where you can cut back on your cell phone plan. For example, if you have a smartphone like the iPhone, you can get a separate number from Google Voice and use the Google voice app for all of your texting. Unlimited texting for AT&T is $20 a month! If you have a lot of roll-over minutes, try reducing your plan so you don’t carry them over. (This is the case for me!) Let’s assume at least $15.

$15 x 6= $90

Pay off High Interest Debt- If you can pay off a $2,000 balance on a credit card bill of $2,000 @ 20% interest in 6 months instead of letting it sit there for a year, you just saved approx. $200 (actually probably more, but you get the idea).

1 x $200= $200

Cut back on lawn or gardening costs- If you pay someone to cut your grass, consider doin’g it yourself. At the very least, instead of them coming once a week, tell them to come every 10 days- you
just saved 1 payment a month. Assume its $25/week (on the low side around here) and you eliminate one per month.

$25 x 6 = $150

Total saved in 6 months time= $1,160

As I mentioned above, these are really just examples that can add up to significant savings over a 6 month period- there are countless others out there. If you feel like you just have trouble saving try these out or think of where in your life you can make cuts that will add up over time- saving on gas, bringing your lunch to work, or others.

Once you make these cuts or changes, you need to SAVE the money you are saving, or you may end up spending it on something else!

Start sending automatic deposits to an online savings account, or stash it somewhere else instead of leaving it in your checking account you use for all of your other purchases.

Do you have tips on other ways to save $1,000 in 6 months? leave them in the comments!

How to Save $1000 in 6 Months is a post from: Think Your Way to Wealth a Personal Finance Blog Copyright 2008-2010

• 10 Ways To Develop a Saving Habit
• Mid-Year Update on My Health Savings Account (HSA)-How is it working?
• Dealing With Techno-Lust- Avoiding Chasing the New or Latest Tech Gadgets
• May 2008 I Bond Fixed Rates Go to 0.0%, Total Rate 4.84%-What Does This Mean?
• Making Your Hard Earned Dollars Work Harder For You

I suppose there is a fine line between being an ungrateful gift recipient, and not wanting something to go to waste, and being somewhat frugal/practical.  But sometimes, a gift you’ve been given just isn’t right for you- you may already have the same thing, or something very similar, or just don’t think you will ever use it.

Personally, if I’ve given someone something that they aren’t going to use or don’t really like, I’d rather them exchange it or somehow put it to good use rather than it just sitting there cluttering up their house.

It doesn’t always mean it was/is a bad gift- although that avocado green sweater vest you got from your great aunt probably won’t look good on anyone . You may have the same item already, or it may just not be for you.

All kidding aside,  if you are not going to wear something, use it, or eat it,  my preference is to get rid of it unless it has sentimental value because of the gift giver- give it another purpose, and get it out of your life- someone else may be able to enjoy it even if you can’t– Here are some ways to do that:

• The Return/Exchange- If you know where it came from- what store, and even better, if you have a receipt or gift receipt, you can return it or exchange it. Personally, if  I was going this route, I’d wait until about a week after Christmas to avoid any post Christmas holiday shoppers and long return lines. Some stores may have restrictive return policies, so it’s always a good idea to check them out before making the return or exchange, if possible.

• The Regift- Even if the gift isn’t right for you, you could give it as a gift to someone else. This works best if it is something you already have- a duplicate item, for example, which seems fairly common with kids’ gifts. (Although, if they are like my son, they already know that if they get something they already have they can go back to the store and exchange it for something new!) You can regift it as a late Xmas present or save it for an upcoming birthday or other gift giving occasion. You may get accused of being a regifter if someone finds out like on that Seinfeld episode, but is that really so bad?

• Sell it- If it is something someone else might want, you can probably sell it. Either online somewhere like Ebay or Craigslist, or at your next yard sale.

• Donate it- If you don’t think you can return it or sell it, consider donating it.  It could be useful to someone in need, and you may be able to take a tax deduction based on its value if you itemize.

• Give it Away- A last alternative, but still a good way to put something to good use, is to give it away to someone you know who might be able to use it or might want it.

Now none of this means you have to get rid of something just because you don’t like it- obviously, you want to use your judgment, but there are certain gifts you know you aren’t going to use, and it seems like a shame to let them go unused for a few years before you finally end up throwing them out.

What do you do with unwanted or unneeded gifts? Do you just keep it, exchange it, or do you find some other way to get rid of it?

photo credit: arne h

5 Ways to Deal with Unwanted Christmas Gifts is a post from: Think Your Way to Wealth a Personal Finance Blog Copyright 2008-2010

• 10 Tips for a Financially Stress Free Christmas
• The Freshman Fund- A Great Idea for Increasing 529 Plan College Savings
• How To Save Time and Money on Your Last Minute Christmas Shopping
• Use 2008 Expenses and Spending to Plan for a More Financially Successful 2009
• Personal Finance Links- Start of the New Year Edition

Bank of America is teaming up with museums, zoos, and other venues across the country to offer free admission to selected sites throughout the country.

With your Bank of America debit or credit card, you can get one free admission on the first weekend of each month, now through September, with more dates potentially coming.

Remaining dates listed for 2010:

May 1st & 2nd

June 5th and 6th

July 3rd and 4th

August 7th and 8th

September 4th and 5th

According to the website, more dates for 2010 will come, so be sure to check the site in the coming months.

Some examples of the museums and other venues, such as zoos and aquariums, include:

New York City

Metropolitan Museum of Art

Bronx Zoo

New York Aquarium

Intrepid Sea, Air, and Space Museum

Whitney Museum of American Art

Chicago

Art Institute of Chicago

Chicago History Museum

Museum of Contemporary Art (No Sundays)

Shedd Aquarium

DuSable Museum of African American History (closed April 4th & July 4th)

Dallas

Dallas Museum of Art

Dallas Museum of Science and History

As noted above, there are some restrictions on dates for certain venues, particularly if they are not open, so be sure to check it out ahead of time.

There are over 100 museums and other venues participating, in several dozen different cities across the country.  Unfortunately for me, there are none in New Orleans as of yet, but it looks like there are some pretty good museums, zoos, and aquariums participating  around the country.

Check it out if there is one close by you!

Get Free Museum Admission with Your Bank of America Card is a post from: Think Your Way to Wealth a Personal Finance Blog Copyright 2008-2010

• Smithsonian Magazine Museum Day- Free Museum Admission Today Sept. 25th Only
• Will Closing Your Checking Account and Switching Banks Hurt Your Credit Score?
• Independence Day, Financial Freedom, and Being Thankful for What You Have
• Weekend Roundup- Keeping Busy Edition
• Celebrate “America Saves” Week

I first came across Swaptree in early 2008, I believe, which was not too long after it started. Swaptree is a website for swapping books, music, movies, and video games that you no longer want for one that you do want.  As opposed to buying and selling items, you can swap  one item for another- basically bartering, and turning 2 transactions (selling your unwanted items and buying a new one) into 1, with no money changing hands but a swap of goods.

After you register and create an account, you create two lists, a “want list” and a “have list”.  Items that you have that you are willing to trade, you put on your have list, while items that you want, you put on your want list.

Swaptree’s computer system will search for people with items that you want, and in turn want items that you have, and will propose a trade.  One key point is that their automated system will work out multi-way trades, so you may end up trading with a 3rd party who does not get the item you have for trade, but something different that was worked out in a multi-person swap.  Once you accept a trade, you mail it to the person who will receive your item.  Since Swaptree deals with books, movies, and games that qualify as media mail, the postage is usually quite reasonable, usually in the $2-$3 range.

After you create your “have list” swaptree will also show you a list of items you can get that are not yet on your “want list”. If you see any of these, you can click a button to get a trade started.

I’ve recently begun trading again with Swaptree after not doing so for a year or so (you can pause your account at any time so that your items are not available for trade- this is for times when you don’t want to trade or are unable to do so in a timely fashion-like being on vacation, etc.)  As before, I like it quite a bit, and in the 10 trades or so I have done since I first started,  I have been happy with the service and satisfied overall.

The only caveat I would have is that if you have a more valuable item on your have list that you are willing to trade, you may lose out dollar wise slightly if you accept a trade for a less valuable item that is on your want list.  To avoid this, I normally list books in the $3-$10 range that I am willing to swap, so I am not too terribly concerned if I lose out a buck or two here and there, as it will likely even out over time. If you did this regularly, though, you may want to consider selling those items somewhere like Amazon or Ebay.

Keep in mind though, just like buying used books from ebay or Amazon, sellers can vary, both in their responsiveness and in their ability to describe an item properly. Swappers are rated based on previous trades, so be sure to check out a person’s rating before swapping. Overall, I am a big fan of swapping items, and plan on using swaptree more frequently to get rid of some of my older books and CD’s and get some new material.

Have you tried out a bartering or swapping service like Swaptree or Paperbackswap? How was your experience?

Swaptree Review- Trade Your Unwanted Books, CD’s, Movies, and Games for Ones You Do Want is a post from: Think Your Way to Wealth a Personal Finance Blog Copyright 2008-2010

• Ways to Save Money on Books and Reading
• Get 20 Free Stock Trades When You Sign Up With Zecco
• Finding Great Deals on the Internet and How to Avoid Buying Things You Don’t Need
• Flexible Spending Account Changes Starting in 2011
• Flexible Spending Account (FSA) Reminder for this Year and Planning for Next Year

Festival of Frugality #218- America Saves Week Edition

Welcome to the Festival of Frugality #218- America Saves Week Edition.
It is America Saves Week this week, February 21st -28th, 2010,  and what better way to save money than by practicing frugality! Honestly, the fastest way to save money is by being frugal and spending less than you earn, as for most people it takes time in order to increase their income. Since the theme is saving money this week as well as frugality, I tried to include as many money saving related articles as possible with this week’s festival.  My thoughts or comments follow each article in italics. Hope you enjoy!

To read more about the America Saves Campaign and America Saves Week, visit America Saves and America Saves Week.

Editor’s Picks

It was tough to pick, but here are my favorites from this week’s submissions:
Frugal Babe presents When The Going Gets Tough posted at Frugal Babe. Great thoughts and tips for avoiding “frugality fatigue”.

Silicon Valley Blogger presents How To Use Electronic Coupons With Your Grocery Card posted at The Digerati Life. This is something new to me-have you tried electronic coupons yet with your grocery card?

Jason presents Finding Happiness: How You Can Own More by Owning Less posted at Redeeming Riches. Living on less can lead to a more rewarding life.

Nicki presents Drawing The Line With Cell Phone Plans posted at Domestic Cents. Waiting as long as possible before upgrading electronics and other gadgets is a great frugal tactic.

Now, on to the rest of the festival!

Frugality and Spending Less

PT presents Fun, Frugal, Family and Friends Outings posted at PT Money. Good tips on getting frugal outside of the house.

J. Money presents Life in Grad School Doesn’t Have to Suck…All Your Money posted at Budgets are Sexy. Some great tips from Mrs. Sexy (had to point that out-its not often you get to use “Mrs. Sexy” in a personal finance blog post unless you happen to be J. Money ) on saving money in grad school.

Jeff Rose presents How to Keep Your Computer Files Safe and Sound posted at Good Financial Cents. Ways to back up your important files on the cheap.

Sally presents 5 Ways to Save Money On Cosmetics and Toiletries posted at Money Crashers. Tips on saving money by examining your habits and the brands you buy.

FMF presents Save Money by Shipping Your Luggage posted at Free Money Finance. With all of the extra fees most airlines charge for luggage these days, it may save you money to ship it separately, believe it or not.

Selina Johnson presents Cheap Date Night Ideas posted at Tips and Snippets. Just because Valentine’s Day has passed doesn’t mean you can’t be romantic on a budget on a regular basis.

Oilandgarlic presents Simple Living, Italian Style: The Kitchen posted at Oilandgarlic’s Blog.  Do you really need the latest kitchen appliances and gadgets to cook- or is it really a want and not a need?

Joe Johnson presents How to Be Fashionable on a Budget posted at Fashion Merchandising. I don’t know much about fashion, but these are good tips on spending less whether you are fashionable or not, I think.

Nicole presents Fix-It Friday: Cat Door posted at Rainy-Day Saver. Doing it yourself is a good way to be frugal.

Polly Poorhouse presents Negotiating camp prices posted at Economic Crunch. Always ask if there is any type of aid or discounts for camp and other school activities or functions-it could save you money.

Bucksome presents 4 Steps to Successful Gift Giving posted at Buck$omeboomer’s Journey to Retirement. Simple tips, but effective!

Financial Samurai presents Let “Freement” Reign! Spending Paralysis, Material Lust And Obsession posted at Financial Samurai. If freement becomes a word in the Oxford English Dictionary one day, you can say you knew the guy that coined the word!

Penny presents Tomato Tandoori Seitan, and Miso Seitan Stir Fry posted at Penniless Parenting. Kick your frugal cooking skills up a notch!

Dawn presents A Crockpot Succeed and Failure posted at Frugal For Life. My wife uses the crock pot all of the time (she does let me turn it off for her sometimes but that is the only time I’m allowed to touch it), she would be totally bummed out if her’s broke! (Read part 2 of the article for positive results though!)

Kyle James presents Frugality In Practice: Needs Vs. Wants posted at Rather-Be-Shopping.com. Have your needs vs. wants changed over time?

Taxes & Credit

Four Pillars presents How Long Before I Get My Income Tax Refund? posted at Quest For Four Pillars. Get your money back as quickly as possible to start saving right away! Giving free loans to Uncle Sam isn’t really frugal.

Peak Personal Finance presents Don’t Forget These Home Office Tax Deductions posted at Peak Personal Finance. Not taking deductions you are entitled to is definitely not frugal!

Single Guy Money presents Taxes Filed – Results Not As Bad As I Thought posted at Single Guy Money. Minimizing your tax refund can be a great way to increase your cash and save more during the year.

Craig Ford presents How To File Federal Taxes Online For Free posted at Money Help For Christians. A good guide to free tax filing online, and we know free = frugal.

David deSouza presents Tax Rebate Forms – Tips and Advice posted at Tax Return Blog. Tax rebate tips for those in the U.K.

Money Beagle presents How Citibank Paid For Our New TV posted at Money Beagle. If getting a TV for free isn’t frugal, I don’t know what is!

MDP presents New Credit Card Laws to Protect Consumers Begin posted at My Dollar Plan. Make sure you know what effect the new credit card rules may have on your finances.

FIRE Finance presents Annual Fee Introduced for Citi Cash Returns Credit Card posted at FIRE Finance. Paying unnecessary credit card fees is undoubtedly “unfrugal”. So don’t do it!

Budgeting and Debt

The Smarter Wallet presents Dave Ramsey: A Debt Fighting Guru’s Money Philosophies posted at The Smarter Wallet. Frugality and debt reduction can be a powerful combination.

Jim presents  Budgeting Is About Your System, Not Your Tools posted at Bargaineering. Budgeting can be a great way to live more frugally and save money.

Jason presents Budgeting Bulimia posted at Live Real, Now. The binging in government spending has been going on for a long time know-when will it end?

Other Great Frugal & Money Saving Articles

vh presents Rant: Costco’s consumer-proof packaging posted at Funny about Money.  It is ridiculous how much waste some companies use when packaging their products- and how hard they are to open!

DR presents Are Discount Health Plans a Scam? posted at The Dough Roller. Getting ripped off while trying to save money  is definitely not cool- especially on something as important as health insurance.

The Investor presents Should you lose pay when snow keeps you from work? posted at Monevator.com. Not getting paid is certainly no way to save money-avoid it if you can.

LeanLifeCoach presents The Space Pencil posted at Eliminate The Muda!. I must admit, I love my Fisher bullet pen (fits easily in my pocket), but how many things are wants instead of needs? I am still not sure what I would do with an apple iPad (what is it supposed to be used for?), although of course, they do look cool!

Wealth Pilgrim presents Financial Aid Forms ? Best Way To Increase College Aid for Free? posted at Wealth Pilgrim. Saving money on college expenses can be huge.

Joe Plemon presents Lessons Irvin Taught Us on Driving, Finances and Life posted at Personal Finance By The Book. Great tips on driving that relate to  finances learned from a father-in-law.

Paul Williams presents How to Find $50 a Month to Give to Charity with Minimal Effort posted at Provident Planning. Want to give more? Start by cutting your personal spending.

Financial Uproar presents The Solution To Financial Literacy Doesn’t Lie In Public Schools posted at Financial Uproar. Is school really a good place for kids to learn about personal finance? Is it better than nothing?

Darwin presents Is Paying Kids for Good Grades Wrong? posted at Darwin’s Finance. Is it OK to bribe kids for good grades? It may not be frugal for parents, but it could save them money in the long run.

Case Ernsting presents Unemployment Doesn’t Have to Suck posted at FinditLocal411 Blog. Some tips for staying positive & cutting expenses if you lose your job.

Next week’s Festival of Frugality will be hosted at Miss Thrifty, so be sure to send in your submissions!

Great personal finance photos courtesy of alan cleaver

Festival of Frugality #218- America Saves Week Edition is a post from: Think Your Way to Wealth a Personal Finance Blog Copyright 2008-2010

• Celebrate “America Saves” Week
• Weekend Roundup- Thanksgiving Week Edition
• Weekend Roundup-Cool Spring Day Edition
• Personal Finance Links- End of Summer Edition
• Weekend Roundup- Xmas Edition

Self reliance seems to be somewhat of a lost art in this day and age. 75 years or so ago, I think it was a lot more common for people to do many things themselves, that these days seem out of the ordinary for many people.

Self reliance, or self sufficient living, can mean different things to different people.

It can mean practicing sustainable living, simplicity, homesteading, or just learning to do more things yourself and for yourself, that you might have to pay , hire, or depend on someone else to typically do.

When I refer to self reliance, I generally think of doing more things my self, such as cooking, cleaning, yard work, growing your own food, minor home and auto repair and maintenance, and similar activities.

It also means fixing or repairing things instead of just throwing them away. I think this is one area in which today’s society has really lost a step or two on previous generations, certainly here in the U.S. So many things today, from clothes to electronics, and dozens of other items, have become “throwaway” when they get damaged, torn, or broken.

Part of the reason I think that many people in society today is that we have this sense that we just don’t have enough time to do many of these activities ourselves, or certainly not enough time to learn how to perform new tasks.

Is this really the case? I don’t know for sure, but I often feel like much of the demands on my time are self-imposed, so to speak- I can spend hours on the internet reading if I am not careful, for example, when I could actually be learning something.

The science fiction writer Robert A. Heinlein has a great quote on what human beings should be able to “do”- some of them may be a little outdated, but you get the idea.

“A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly. Specialization is for insects.”

— Robert A. Heinlein

How many things can you do?
What are some things you would like do yourself but haven’t learned how to do yet?

Is Self-Reliance a Lost Art in this Day and Age? is a post from: Think Your Way to Wealth a Personal Finance Blog Copyright 2008-2010

• Mastering Frugal Living- Living a Simpler Life and Avoiding Consumerism
• Save Money by Practicing Moderation in Your Life
• Weekend Roundup- Fall is in the Air Edition
• Walking the Fine Line Between Being a Spender and a Saver
• Looking For a Cheaper Alternative and Deciding To Do It Yourself

photo credit: lord-helmet

What does someone in the Deep South know about cold weather? Not much, more than likely, compared to many of you living up north, where it gets really cold.

But when it is 29 degrees with a wind chill of 20 (and damp!), it is pretty cold to me. Since it is going to be the coldest it has been in almost 15 years in the New Orleans area the next few days, I figured I’d share some ways to keep warm without just cranking up the heat and “torching” your energy bills. Cranking up the heat can also dry out your skin and sinuses, causing other problems.

Lower the thermostat- Whatever you normally keep the thermostat on during the winter, try lowering it a few degrees. It is not too hard to get acclimated to a lower temperature, and will keep your heating system from running as much.

Consider a programmable thermostat too- A programmable thermostat can allow you to lower the temperature during the day, especially if no one is at home during the day, for example, and you can have it start heating up the house again an hour or so before you and the family arrive home, so it is not too cold when you get there. You can also lower it some slightly at nighttime, while everyone is sleeping, and program it to rise an hour or so before everyone wakes up.

Check for leaks and drafts- Check around doors, windows and other openings for cracks and openings that may be allowing hot air to escape.

Bundle up -in layers- Wear long sleeves and pants, and wear layers to keep yourself warm indoors.(Which of course works outdoors as well, of course). I am used to wearing shorts and a T-shirt almost year round in the house, so changing your attire inside to something warmer can definitely help.

Blankets- Use layers of blankets at night, instead of just one, to keep warm and toasty when sleeping (or napping!)

Limit use of vent fans- Vent fans, in the bathroom or kitchen, can suck up hot air and exhaust it outside your house. When it is cold outside, try to limit using a vent or don’t use it at all.

Have furnace or heating system serviced regularly- The more efficient and clean your heating system is, the better it will operating and the quicker it will warm your house up to the desired temperature. If you haven’t had your heating system serviced in several years, it may help.

Keep your air filter clean- If you have a central A/C system or a furnace, keeping the filter clean by replacing it regularly will allow it to operate more efficiently, which will allow it to heat your home or apartment better.

Set ceiling fan in reverse- This does seem to work, although it is debatable to some. The theory is that since hot air rises, by reversing the ceiling fan you are pulling cooler air from right below the fan up, where it hits the warm air (and ceiling), which it pushes out towards the walls, and then down lower where you can benefit from it.

Check attic insulation- Heat rises- so if your attic is under-insulated, you will lose hot air through the attic. By the same token though, cold air under a raised house can make you feel colder and heat can be lost there also.

Use a space heater- space heaters, even a small heater fan, can direct heat to exactly where you need it.They also use a lot less energy than running your central system.

Get a hot water heater blanket- If your hot water heater is in an unconditioned area of the house, like a garage, attic, or utility room, using a water heater blanket can help insulate it, reducing the
amount of time it runs to heat the water up.

Close drapes at night, open during the day when there is sunlight- Use natural light when possible to allow heat from the sun into your house. Conversely, at night, closing them may help a little in preventing warm air from escaping.

Wear socks indoors- Some people prefer to go barefoot most of the time, but for whatever reason, I wear socks just about year round in the house, although my wife and kids prefer to go barefoot most of the time. But these last few weeks, even they have been wearing socks around the house.

Electric blanket- I’ve never used a real electric blanket (I have used a heating pad though!), but some of my friends in the far north swear by them.

If all else fails, try a snuggie!- One of these days, I’m going to have to get one of those things !

photo credit: Howard O. Young

15 Ways to Save Money on Heating Bills This Winter is a post from: Think Your Way to Wealth a Personal Finance Blog Copyright 2008-2010

• Four Ways to Stay Warm Around the House and Save Money
• 20 Ways To Reduce Your Household Energy Use
• Top Ten Ways To Aggravate Your Spouse or Significant Other With Your Frugality
• 35 Ways To Kick Start Your Debt Snowball
• 30 Ways To Stretch and Maximize Your Dollar