It's the Most Wonderful Tiiiiime of the Yeeeear!

I've been off for a while... Not writing, not ranting (much), just more or less sitting on the sidelines watching our economy struggle to right its keel and get skipping along again.  Occasionally, I'd indulge in a little 'debate' on Facebook or whatever, but that's about it.  Truthfully, I got kind of bored with it all...  The budgeting, the slogging through sales and coupons, the endless fiscal vigilance one must have to ensure one is getting the most value out of every dollar.  It's tedious, and that's exactly what separates the financially fit from the flabby- discipline.  I'm back, though, largely in part to the inevitable wrenchings on my pocketbook as the wheel of the year turns....

That's right, kids.....  IT'S BACK TO SCHOOL TIME!!!

Yes, I realize today's date is a sultry July15th, however I live in the greater Chicaglamd area and my kids are back in class August 19th. The school supplies are appearing in the seasonal aisles of stores and the shoppers are already picking at them like seagulls at the beach.  In two short weeks, these towering notebook display sculptures of Maccu Piccu-esque artistry will look like the bottom of my purse.  All those Flair pens that teachers insist on including in the school supply lists will be gone. Ditto for the correct color of dry erase markers and double ditto for the preferred accordion folders.  The hassle of driving all over town trying to find this stuff later will more than negate any savings you'll get waiting for it all to go on sale.  I really wouldn't worry about that anyway... If you shop at Target for example, you can bring your receipt in up to 2 weeks after purchase for a price adjustment.

If you are in my shoes and have a college student to shop for, Bed, Bath and Beyond just sent out a 20% off coupon for your entire purchase. A word to the wise: find someone who has already done the whole freshman college year thing and ask them what you REALLY need at school.  They'll tell you which things are must haves and which were a waste of space and money. Personally, I'd put textbooks right at the top of the list, at least as a purchased item.  Unless the book is a title your student will want in their personal professional library, RENT RENT RENT. Example: sophomore year psych elective text rang in at a hefty $235 new, $189 used (if you could find a copy), and $39 to rent for the semester.  There are plenty of online resources for rental books and my favorite, Valorebooks.com, will send you a reminder and free UPS return mailing label at the end of the semester.

I'll be keeping an eye on the sales, but I'll also be keeping a very firm grip on my wallet.  Don't overbuy, and don't let the heady scent of art supplies, pristine notebooks, and bouquets of Ticonderoga pencils fog up your brain.  Buy what you need now and remember... These things make great stocking stuffers.

Something to do when you have no money....

Welcome to that fabulous time of year, the Post Holiday Financial Hangover.  By now, the bills are rolling in and you may well be regretting your sentimental generosity and one-more-gift-itis. Relax...  unless you can talk some of those gift recipients into returning your largess, you're just going to have to suck up these December lapses of reason and move on.  I'm not going to bawl you out like a crazed financial planner, either.  We have more important things to consider now that you're Really Flat Broke.... like...

January is a drag and you're probably Bored As Hell.

Aaaaand we got no money. 

Buuuut we're still whining for something to do.

If your city is anything like Chicago, this isn't necessarily a problem.  You may or may not know that the Art Institute is offering FREE ADMISSION to any Illinois resident...  for the ENTIRE month of January.  I stumbled on this little gem of quality info quite by accident and just about fell out of my chair.  Lesson:  Google the words FREE ADMISSION for your area and see what comes up.  Some results may surprise you....  which brings me to my second bit of local intel- some things are actually free ALL THE TIME, and these things can have the added bonus of feeling like a mini vacation.

Spot number one:  the Conservatory at Lincoln Park Zoo, Chicago.

Yes, the zoo is free, too, but unlike the Conservatory, the zoo is FREEZING and therefore kind of un fun.  The Conservatory, on the other hand, is room after room of tropicals, koi ponds, ferns, and orchids.  Not only do they fuss it up at the holidays, the Conservatory also hosts a small flower show in the winter months that is a soul-restoring break from the gray awfulness of the Chicago winter.Take a camera and shoot some of the gorgeous blooms... by the way, that screaming you hear is your dry skin happily soaking up the humid air. More info can be found here

http://www.chicagoparkdistrict.com/parks/lincoln-park-conservatory/

Spot number two:  The BAPS Shri Swaminarayan Mandir Complex in Bartlett, IL.  Do you happen to know anything about Hindu or the Indian culture?  I didn't- until I visited here.  The buildings are spectacular examples of hand crafted artistry in limestone, marble, wood, gold and precious stones, and the Mandir itself is like stepping into a shimmering jewelry box.  Docents are happy to explain the history of the compound and its construction, and an underground passageway between the Mandir and adjacent Haveli is lined with fascinating exhibits about Hindu and Indian customs and culture.  Upcoming events and more information about the complex can be found on their website

http://chicago.baps.org/index.htm

Go look around your neighborhood and find something cool to do...

The most magical words in any language...

happen to be...  (sit down)

401K WITH MATCHING.

Yes, it's true.  401K is pretty BEAST (highly descriptive word of the positive variety from my 9 year old) as it is...  you get to throw money into a savings account rather than give it to the IRS in taxes each paycheck.  Matching takes this little bene to a whole new level.  If your company has this perk, you'd be a complete fool to pass it up.  No matter what level/amount/percentage your company offers, you cannot
EVER leave this money on the table- no matter what the economy or your weekly budget says.  Allow me to elaborate....

Let's say you take home "X" amount of dollars per week; that figure is composed of:
1.  Gross Pay
2.  Pre Tax Deductions (Medical, Dental, Life (if offered), retirement, and so on)
3.  Taxes (the money they take based on what's left AFTER #2 above)

SO:  If you contribute to a RETIREMENT FUND, it's taken out BEFORE the IRS comes to visit your paycheck.  You've sheltered money (that you would have LOST TO THE IRS ANYWAY) into an account that you can access after you retire.  The impact to your take home pay is MAYBE a few dollars, because you lowered your taxable income by saving some of your gross.  If your company then MATCHES your deposit into a retirement account with THEIR money, you've just earned cash for saving money you never would have seen anyway.  Between the IRS and your future, someone is going to get that cash...  I know who I'd rather choose...   

Don't EVER throw this out....

Let's sashay over to the pile of papers and assorted whatnots that you no doubt have stacked up (neatly...) over there on the counter.  Not that one, the one 2 piles down...

Hello everyone, my name is Sharon and I am a Pile Person.  (Hellooooo, Sharon....)  I save things.  I firmly believe that my saving things is GOOD.  My house may become a fire hazard of stacked flammables, but I don't worry....

because....

my homeowner's policy is probably in that pile.  So is the number to the Fire Department.  Luckily, I saved that stuff.

Today, I am EXCEEDINGLY pleased that I saved the paperwork from the windshield I had replaced on my Expedition over 2 years ago.  That paperwork contained a secret incantation that I invoked today when I learned that my SUV was going to cost 1500.00 to fix.  Why? because the problem (a wet electrical thingie that caused my eyes to glaze over in shock when I learned of the repair bill) was directly caused by a leaking rubber seal that goes around the windshield.  That seal comes with (this is the magical part) a LIFETIME warranty.  LIFE.

TIME.  (it had been over 2 years since we replaced that baby!)

WARRANTY.  ( I paid for NOTHING. Zip. Nada. ok- I had them do an oil change while we were there, but that was only 20 bucks.)

Moral:  The words Lifetime Warranty are your very own GET-OUT-OF-PAYING card... the best that this real life Monopoly game we're all playing has to offer.  Listen to me... keep good records.  Don't throw out ANYTHING that says Lifetime Warranty on it. And stock some good champagne in the house... you're going to need it when you find out that you won't have to pay for that 1500 car repair either.  WOOOT!

The time has come!

Generally speaking, if you are a person who lives on a pretty tight budget, tax time isn't that big of a deal to you.  You probably don't earn enough to hit that huge tax increase that comes with a 150K/year income, and you generally see a check from the IRS as opposed to scrambling to pay a tax bill.  Oddly enough, most folks I know seem to need that little refund at this time of year; busted dishwasher, camp deposit for the kids, knock off some of the Visa bill you racked up at the holidays... that sort of thing. 

Most financial experts will tell you that using the IRS as a little savings account is a pretty dumb idea.  You get absolutely no interest on the money you park with them over the course of the year, and could actually realize some financial goals a bit sooner if you keep the cash with you.  Here's my problem with that:  the minor interest you'd realize on your return over the year doesn't generally add up to much- especially in this economy.  In this day and age, banks "generously" dole out a percent or so for the garden variety savings account.  BIG DEAL.  Sacrificing this little "windfall" to safeguard money that I cannot access until tax time each year means that I can count on that cash when I always seem to need some extra.  Stores have noticed this- just check out the deals to be had at tax time for items like appliances, cars, vacations and so on.  My local park district even runs a special for thirty percent off a family pool pass for the upcoming summer season.  Early bird specials for kid's camps abound; pay now, and they knock money off the bill.  Your savings alone will outpace interest realized over the year every time. 

I do have some pals who will argue the hell out of this- and they'd probably be right... to a point.  These are people who track, file, colate, and analyze every cent they spend.  Their financial virtue is without question and money management is a game they play very well.  The rest of us are possibly, oh I don't know...  less gifted in that department.  Time and organization are at the top of our resolutions every January 1st.  For those of us that mean to be fiscal tigers but somehow just wind up being meat, I think tax rebates offer us a little forgiveness, a bit of financial grace.  Here is the ready cash to cover the unforseen, the failure to plan, the sneaky bit of bad luck.  

Having blathered on about all of that, I do think now is an opportune time to deliver a small but necessary lecture, entitled STOP BEING YOUR OWN WORST ENEMY.  Yearly financial desperation of your own making is stupid.  If money management is not your best skill, understand that you will hemmorage cash out the wazoo until you learn to budget.  Not knowing where your money goes is the fastest way to lose it.  It takes energy, committment, and time to circle your fiscal wagons and get control of your cash.  You may have resources you did not realize, once you've learned to eliminate the chaff and stop overpaying (or worse paying twice) for things like cable, food, phone and internet services, clothing- the list goes on and on.  Tips and tricks, coupons, freebies, blah blah blah are all out there.  Go get 'em, Tiger.   

Your time is money, too.  I urge you to think of this the second you delude yourself into thinking that camping out on the sidewalk in front of Best Buy or wherever for their Black Friday Deals is in any way going to “Make Your Christmas.”  It won’t, and I’m absolutely DELIGHTED to tell you why; IT’S NOT ABOUT THE STUFF… and I can prove it.

A couple of years ago, I decided to conduct an impromptu (and probably not very scientific) poll/social experiment in which I asked my three children to name, in 45 seconds, five things they had gotten for Christmas the year before. Not one of them made it past three.  Of the three things they recalled, I could immediately tell from the tone of their voice which one of the three was actually THE wish gift.  Last year it was the bass guitar (15 year old daughter), the I-Touch (12 year old son), and Rock Band World Tour (7 year old son).  The rest of the chaff fell away next to these Holy Grails of holiday haul, and they are all still in heavy use today.  My daughter has mastered the base line to Pink Floyd’s “Money.”  My older son proudly used the GPS app on his I-Touch to help us find our way to a lacrosse tournament in South Bend, IN last May.  My younger son has whiled away countless hours with his friends and siblings as they morph into guitar/drum/vocal rock legends. 

I managed to obtain these things through some creative budgeting, thrifty use of Amex Rewards Points and online canoodling on places like Amazon.com (you’re not generally going to find a better price).  I don’t mind telling you that nothing will kill your holiday spirit faster than thinking you have to provide this limitless wonderland of gifts for your children, all the while knowing that you: A: Need that money for something else (like brakes for your car, a down payment for braces for one of your kids, a replacement washing machine for your family of five) or B: Can’t find that cash anyway after the beating you’ve taken in this past year’s economy.  I have some advice and I truly hope some of you see the hard earned wisdom in this:  Your kids are dreaming of MAYBE two or three things.  After that, they just want to open the boxes that those particular items came in, kiss them repeatedly, and go have some pancakes and orange juice.  If you don’t believe me, you need to watch the movie “A Christmas Story” and realize the power of just one childhood wish granted.

Have I ever succumbed to the Black Friday nonsense?  Yes- ONCE.  Last year, Old Navy was offering a FREE Lego Rock Band for XBOX 360, Wii, or Playstation, (retail value a cool 50 bucks).  The catch was that you had to be one of the first 15 people in line when they opened their Black Friday doors at 2am. 

TWO.

A. (I’ll let that sink in…)

M. (M stands for MY it’s cold out here)

THAT’S EARLY. (Aside: Was this kid REALLY good?)

I made a few Line Buddies (those of us in the Black Friday madness refer to one another as Line Buddies… yeah, I know…)

Had I not been after the whole Rock Band thing, I never would have done this (actually, I was still a little tipsy from dinner and that probably had a bit to do with it, too.) BUT, it was fun for about forty minutes until someone tried to steal someone else’s Black Friday grabs in Old Navy and I sort of soured on the whole thing.

While we are not particularly religious people, my family is definitely very spiritual.  For us, the spirit that fills us at the end of the year is the feeling that we managed to get everything we needed, wound up with a bit extra, shared a bit, and indulged a bit with our family, friends, and community.  These days, one can hardly ask for much more.  I see many, many people with much less.

Don't shop for holiday gifts until you read this...

http://www.cnn.com/2010/LIVING/11/15/cheap.christmas.romans/index.html?eref=mrss_igoogle_cnn