Money Matters Q and A: Saving Money at Halloween, Part 2

Q. How can I save money on the things I do need to buy for Halloween?

A. Avoid the fancy Halloween party stores and opt for other options instead. You can buy Halloween decorations through Goodwill and similar secondhand stores. Halloween decorations and certain costume elements can easily be purchased inexpensively secondhand and, when you are done using them, you can donate them back to these stores to pass the savings on to someone else. You can also get a receipt for your donation from the Salvation Army and take the deduction on your taxes next April. Check their website for the value they allow for each item you donate and be sure to get a receipt from them for everything you bring.

Another way to save big is to check out 99 cent stores. They often have cheap decorations, paper goods and coloring books and activity books with holiday themes that your kids can use for decorations, placements, costume ideas and patterns, and more.

Check Pier 1 as soon as the season is over and save up to 90% off on any leftovers of their holiday line. Then put them away until next year.

YOUR RECESSION SURVIVAL GUIDE: How to Save Money and Even Boost Your Income in This Recession

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Money Matters Q and A: Saving Money at Halloween, Part 1

Q. How can I save money on Halloween decorations?

A. Let your children participate in the decorating. Buy craft paper in a variety of colors and help each child create their own decorations. Create leaves, pumpkins and other seasonal items in various appropriate colors. (Hint: You can keep these kinds of decorations around the house right the way through to Thanksgiving.)

Also let them make some more scary ones, ghosts, zombies, witches and so on.

Tape them into the windows or mount them on the fridge door our your outer door. You can cover the ones on the outer door with plastic film to protect them from the wind and rain. For example, using just plain white computer paper, your kid could make a huge life-sized skeleton for your door.

Go online to some homeschooling or teachers’ resources sites to download free coloring sheets and more. You don’t have to go the expensive route for excellent Halloween decorations. Let the kids use their imaginations, and keep the pumpkins and leaves for Thanksgiving. Save the more spooky items for next year and they can be keepsakes for years to come.

YOUR RECESSION SURVIVAL GUIDE: How to Save Money and Even Boost Your Income in This Recession

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Frugal Shopping Ideas for October

October signals the arrival of fall. With the autumn comes a bounty of foods from nature. The holidays are also rapidly approaching, so you will want to start shopping slowly now so that you are not burdened all in one month. You will also want to pounce on any bargains you can find and start stocking up in the house before the snow starts to arrive (it can sometimes come as early as October!).

During October, shop for savings on these groceries:

*Soups
*Broths
*Canned fruits
*Canned vegetables
*Dried fruits, like raisins

Supplement meals this month with plenty of fresh produce. Try local farmers’ markets, warehouse clubs and vegetable wholesalers.

Look for bargains on these produce items:
*Broccoli
*Pumpkins
*Sweet potatoes
*Winter squash
*Cranberries
*Apples

If you’re in the market for large appliances, cookware, or accessories for your vehicle, October is a great month for the following items if you want to shop frugally:
*Trees and flower bulbs
*Tools used to landscape-garden
*Large appliances such as refrigerators, freezers, washers, and dryers
*Cookware
*Grills
*Lawn mowers
*Car accessories
*Tires for your car

October can mean big savings for items like trees, shrubs and other gardening needs. You might also consider planting winter crops of vegetable in your garden to save even more on food this year. Take advantage of October deals to replace large appliances and get end-of-season summer items like grills and lawn mowers. October equals great bargains as we move from summer to fall and start getting ready for winter. Keep your eyes out for those special items already on your gift list.

And don’t forget to buy Halloween candy in the early part of the month before the prices go up due to the fancy wrappers. Then shop the sales starting November 1st as they have to clear away all the remainders in order to make more room for the Christmas items. You can get candy and décor at up to 90% off. Shop for the items without Halloween wrappers if you can find them or opt for orange and use them over the Thanksgiving holiday to treat family and friends. This little trick can save you a lot on candy this year.

FURTHER READING

YOUR RECESSION SURVIVAL GUIDE: How to Save Money and Even Boost Your Income in This Recession

Smart Spending Strategies

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Financial Calendar October

 

October 1-31 National Disability Employment Awareness Month.
Perhaps you or someone you love is disabled and working. Take some time this month to talk to your children about this special “branch” of the workforce. Stress that people from all walks of life can earn and support themselves.

Breast Cancer Awareness Month.
This is pink ribbon month, so look out for the pink packages in stores which show that the companies that have joined in have pledged certain monies to help sponsor charity events. Also keep an eye out for walks and other special charity events you can participate in. Or just make a donation through free clicks at theanimalrescuecenter.com. The purple button donates food to animal shelters and the pink donates money toward free mammograms for women who can’t otherwise afford them.

October is also the start of the next fiscal quarter. Keep an eye on all your business finances, and if you are not ready for the holiday selling season yet, well, what are you waiting for?

5th World Teachers’ Day.
Today is set aside to honor teachers and their contribution to the education of children all over the world. Reflect on how you might honor your children’s teachers today and take some time to talk with your children about what they want to be when they grow up. Mention the importance of financial responsibility in order to plan for your financial future and meet all of your goals. Also stop off at theanimalrescuesite.com and click on the purple button to donate food to animal shelters. Then click on the Literacy site button to donate free books to children all over the world.

8th National Children’s Day.
This day is to celebrate children. If you have children, you know just how important they are to your life. Why not take your children to the bank today and help them open their own savings accounts? Go to theanimalrescuesite.com and click to donate food to animal shelters, then click on the free link for Children’s Health to donate money from the sponsors to support child health care initiatives all over the globe. Also remember that you and the kids can play free sponsored games from the site. The more minutes you log in, the more money the sponsors donate to the worthy causes listed at the site.

Columbus Day.
Columbus Day celebrates Christopher Columbus’s first voyage to the Americas in 1492. Use this day off to review your budget for the past few months and check where you are in terms of savings for the upcoming holidays. You can also head over the theanimalrescuesite.com to click on the purple button to donate food for free to shelter pets, and the green button for the rainforest site to help preserve the last of the world’s great rainforests from further incursions and the loss of habitat that can bring animals living there to the brink of extinction.

15 Sweetest Day.
Sweetest Day was established to do something special for others, particularly for those who are less fortunate than yourself. On this Sweetest Day, make a donation to your local foster care organization or a world hunger cause. Go to theanimalrescuesite.com and click on the purple button to contribute free food to animal shelters. Then click on the yellow hunger button to donate food to end hunger worldwide.

16 National Bosses’ Day.
Celebrate your boss today. After all, it’s most likely because of him or her (directly or indirectly) that you’ve got a job. Even if they can be a pain, think of all the ways your steady paycheck makes your life easier.

16-22 Record all the money you spend for a week.
Beginning today, record every purchase and every bill you pay for the next week. Doing so will help highlight any unnecessary spending and help you curb these habits in the future.

24th United Nations Day.
It was on this day in 1945 that the UN’s document was signed and accepted by Security Council members. This date reminds us of UN’s mission, goals and achievements. Speaking of mission, goals and achievements, what are your missions, goals and achievements related to your finances so far this year? This is a good time to check to see if you are on target with your financial goals.

31 Halloween. “Treat” each of your children by making a $50 deposit into their individual savings accounts this Halloween instead of spending a small fortune on candy, costumes and decorations.

These are just a few ideas on how to make October a profitable and productive money when it comes to money matters.

For more how tos on a variety of money-related topics, see the Money Matters Series from Evelyn Trimborn, published by Eternal Spiral Books.

August 1-31
Family Fun Month.
Celebrate your family all month by planning a fun activity for your family each week: a barbecue one week, a walk through the park the next, and more. Take advantage of the family time together to teach your kids about managing money – a skill that will benefit them the rest of their life.

August 1st-Take time today to find out if your state has a sales tax holiday for back-to-school shopping. Mark your calendar with the dates and plan to do your shopping then. Set a goal to save big money on back to school-shopping this year.

7th-National Sisters’ Day. If you’re lucky enough to have a sister on this day, plan to spend some time with her. You can swap savvy saving and shopping tips to help save even more money.

12th-International Youth Day. This United Nations observance day pays homage to the world’s youth – their achievements and incredible impact on the world. Talk with your kids today and listen to their dreams for the future. Emphasize the importance of education and employment in creating their best lives possible. Discuss how your family saving for their goals needs to start now and might mean sacrifices today for a better tomorrow.

13th-National Garage Sale Day.
Believe it or not, there’s a day to celebrate the garage sale. Definitely plan to have yours this month. Use the money that you earn to make a difference to your family budget. For example, apply your takings to back-to-school shopping, save it, or invest it.

19th World Humanitarian Day.
This day observes the incredible perseverance by all the world’s humanitarian workers and to promote humanitarian causes. In particular, those who have lost their lives in the fight for humanitarian reasons are honored on this day. Consider a donation to the humanitarian effort of your choice. Think how you can make a difference in the world through your time and efforts. Also remember that wealth is relative. You may not think you have a lot, but you are far better off than many people around the world and there are some things that money can’t buy. Freedom is one of them.

24-Start shopping for a new car.
At this time of year, dealers are selling their remaining inventory of this year’s models at great savings to make room for next year’s new cars. To save some real money on your next new car, shop now for the best deals. Do your research carefully and see if now is the right time to buy.

26th-Women’s Equality Day. Celebrate the date that women were first given the right to vote in 1920 by purchasing a $50 savings bond for each of the favorite women in your life, such as your wife, sisters, and daughters. Women can treat themselves to their own $50 savings bond to celebrate this landmark day. Or, put the money into an interest bearing account and add to it, setting your own goals, hopes and dreams to improve your future.

31th. Make a call to reduce the interest rate on your credit card. It’s so important to try to save dollars however you can. Put some effort into reducing your credit card interest rates. Any reduction in the rate, no matter how small, is extra money in your pocket. The America’s Debt Diet and other websites have sample scripts you can use to help you get started saving money.

Don’t forget to check your budget and emergency fund to be sure you are on track. See the guide Emergency Fund 101 for more information. Also learn How to Use the Internet to Save Money.

Further Reading:

How to Slash Costs and Save Money on Everyday Expenses (More for Less Guides)

Smart Spending Strategies (More for Less Guides)

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Saving Money All Year Round-September Hints and Tips

Here are some great ways to save this month.

1-31 “Fruit and Veggies – More Matters” Month.
The month of September is designated as Fruit and Veggies – More Matters Month by the Centers for Disease Control to encourage everyone to eat more fruits and vegetables. Focus on eating seasonal fruits and vegetables to save money this month and for the rest of the autumn as the harvest comes in. Visit your local farmers’ markets to get the best prices on local produce or find a vegetable wholesaler for rock-bottom prices.

1st
If you have health insurance coverage through your employment, review your coverage today. Do you need to make any changes to your plan? Speak to HR to ensure you have the coverage that works the best for your family. You will need to sign up for coverage by the end of the year for next year, so start doing your research today instead of just rolling over last year’s coverage without reviewing it.

Labor Day.
Enjoy your well-earned day off. Rather than spend your dollars on eating out, put the money you would spend towards a barbecue, or have a picnic with your family.

8th International Literacy Day.
Consider going through your book collection and deciding which books you can either sell or trade in for credit at your local second-hand book store. Read a current financial expert’s book with wealth-building tips today. Make a donation to the Literacy Site, click to donate free books, or shop in their charity store to get an early start on your holiday shopping.

11th Grandparents’ Day.
Visit your grandparents or your kids’ grandparents today. Ask them to share some tips about how they stretch their dollars. You might be surprised with how much they know about getting more miles out of your money.

15 Third Quarter Estimated Taxes are Due.
If you’re self-employed or run your own business, remember to mail your estimated tax payment in plenty of time for the IRS to receive it before this date.

19-24th Take your lunch to work this week.
One way to preserve your cash this month is to carry your lunch each day. At $5 to $10 per weekday, you’ll save a fair amount of money to put into your emergency fund or save for one of your family’s other financial goals. You can also put this money into your end of the year holiday fund.

21st International Day of Peace.
This date reminds us all to do what we can to bring about world peace. Make a donation to a cause that promotes world peace and nonviolence. Don’t forget to keep all your charity donation receipts in order to deduct your donation on your taxes when you file them in April of the following year.

23rd First Day of Autumn.
Review your budget and begin planning and preparations for end-of- the-year spending for the upcoming holiday season. If you have not already been shopping and saving now, is the time to get started so that you are not stuck with a lot of bills all in one month this year.

30th Review your debts.
Make a list of all your debts and vow to pay them off. Start with the card with the highest interest and pay off that bill first. Then go to the next highest interest rate and pay that one off. Do not plan on using your cards for any holiday expenses. Pay down each card, keeping only one card with the lowest interest rate for emergencies.

For more information on frugal living all year round, see:
Smart Spending Strategies and How to Use the Internet to Save Money

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Finance Calendar for December

1-31 Universal Human Rights Month. The month of December is designated as Human Rights Month – a time to acknowledge the importance of human rights throughout the world. Celebrate your freedoms in this country, including the freedom to build and keep your assets as your own.
1 If you’re retired, the deadline for withdrawing the minimum annual mandatory payments from your retirement funds is the 31st of this month. Review now what you’ve already withdrawn to ensure you’ve taken what’s required.
5 Now’s the time to donate dollars to your favorite charities. Doing so will win you a big tax deduction for the year.
7 National Pearl Harbor Remembrance Day. Take time to acknowledge soldiers who fought during World War II by donating to your local veterans’ groups or charities.
10 Watch your last-minute holiday buying. This is the time of year that you might start to overspend. Rather than continue to buy more gifts, make the decision to decrease or stop the holiday debts.
17 Wright Brothers Day. Do you remember Orville and Wilbur Wright? They made their first flight on this day many years ago. Acknowledge their ingenuity by purchasing a savings bond for each of your children today.
19 Buy a new computer. Score huge savings on a new computer – up to 50% off at many retailers during this month. So, if it’s time to replace yours, check out prices as the holidays approach to find your best deal.
21 Hanukkah. Begins an 8 day celebration that commemorates the rededication of the Second Temple in Jerusalem. Even though you’ll be gathering with family and friends, you can stay in your budget with planning and discipline.
25 Christmas Day. Enjoy the exchange of gifts during this time. Starting tomorrow, vow to set aside at least $10 per week all year to avoid holiday budget stresses next Christmas.
31 New Years’ Eve. Take some time today to make your New Years’ resolutions. Plan a budget for next year. Set a target amount to have in the bank by this time next year.

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How To Find And Flip Your First Property

It’s exciting watching those programs on television where the investor goes out, purchases a property and flips it for a fast $10k + profit.

Is it possible to do that yourself? Is it a scam or is it a viable way to make some money? Can you really do it without any money or credit like you hear on those 2:00 am infomercials?

It is possible, but you must do a lot of things that make the average person uncomfortable. That’s not to say you have to do anything unethical; simply that the activities involved are not pleasant for most folks.
Like any business you need a couple of things:
➡ Inventory
➡ Customers

And these two things will be accumulated through marketing and prospecting. Real estate investing is largely a marketing business.
The Basic Process

In a nutshell, you need to find someone that is willing to sell their house at a deep discount, typically at no more than 60% of the retail value. Then you need to find someone else to buy it from you at 70% of retail value.

Your first question is probably, “Who would sell me their $100,000 house for $60,000?”

Have you ever had an old car you didn’t really use anymore? Maybe it didn’t even run anymore. The car just took up space in your driveway or on the side of the house. Eventually, you would reach the point where you’d had enough. You just wanted the thing gone, regardless of what you could sell it for.

Like your car, some houses aren’t providing any value to their owners, and these owners would be willing to give you a deal. Other owners are just looking for some cash and will also come way down on the price if you can close quickly. So such owners are out there, but it may take a lot of work to find them.
Your second question is probably, “Why would I sell that house for only $70,000?”
The short answer is because you can sell it quickly for cash. Especially if you’re trying to put together deals without any money or credit, time is critical.
Finding a House to Buy
We’re looking for a house that fits certain criteria. In most cases, your best buyers will be rehabbers that will either resell the property or rent it out. As with any business, you need to figure out what your customers want. In most cases, this will be houses with 3 bedrooms in decent, but not really nice areas (in the case of properties that will be rented). Houses that will be resold can certainly be of any size, and higher price ranges are acceptable.
In general, you’ll look for properties that are 70-100% of the median home price for the area. So, if the middle-of-the-line house in the area is $100k, you’re going to be looking at houses that would sell for $70-100k after they’re repaired.

Here are some ways to find the owners that are willing to sell their house at a deep discount:

1. Bandit Signs. These are those 12×18 or 18×24 signs you see hung on telephone poles all over the place. Check out the legality in your area. You see them all the time because they work.

2. Craigslist. Call all the ads for properties that are for sale or rent. If you call enough people, someone will be thrilled to give you a great deal.
3. Ads: Put your own ads in Craigslist. The newspaper is fine, too, if you have the funds.

4. Abandoned Houses: Even some nice neighborhoods occasionally have abandoned homes in them. Frequently, the owners are out of state. Track them down and send them a letter or give them a call.

What Do You Say to These Owners?

It’s perfectly fine if you’re not some slick salesman. The people you’re looking for are looking for relief and they’ll take it wherever they can get it.

Your basic message should be, “I can give you cash for your house very quickly, but I’m only going to be able to give you about half of what your house is worth.”

Expect that it will take approximately 30 phone calls with sellers to find a property that fits your qualifications. Out of those sellers, the number will be much greater to actually get a deal.

You could easily make 100 or more calls before you make a deal. But consider that many telemarketers are expected to make 400+ calls each day at their jobs.

All in all, it’s not a lot of work for a good payday.

How Much Do You Offer?

The basic formula is: 70% ARV – Repairs – Your Fee

ARV = after repair value; this is the retail value of a home in great shape. You can get the value of the home from a real estate agent or by doing some legwork yourself. You can get free estimates for repairs from contractors.

 

Selling the House

Now that you have the house under contract, your job is to find someone to take it off your hands at closing. There are two basic ways to get paid:

1. Assign the Contract. You can assign your rights to the house to another person for a fee. This is the easiest and cheapest way to get your money. The only potential issue is that your buyer will know how much money you’re making.
2. Do a Double Closing. In this case, you’re reselling the house to your buyer during the same closing as you buy the house. This keeps everything more confidential, but there are two sets of closing costs: one set from buying the house and one set from selling the house.
Finding a buyer is usually quite easy. Once again, you can advertise with bandit signs and classified ads. Your message should be something along the lines of, “3 bedroom house for sale. 40% off. Cash only.”

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