toptenThe end of the year always brings about a multitude of top ten lists, and I thought I would get a jump on 2009 with my top ten eleven tricks for saving money:

  1. Don’t go to stores unless there’s something you actually need. This one is big, as it’s really easy to find cool stuff to buy in just about any store. So just stay out. Period.

  2. Pull out all your utilities and really look them over. Is there a lower rate plan to go with? A quick call to a customer service rep can help you locate potential savings.

  3. Go through your closet and pull out any clothing or accessories that don’t get worn or no longer fit. Invite your friends over for a clothing swap and feed that craving for new outfits without spending a penny.

  4. Get to know your local library. Not only can you get books, but DVD’s, CD’s and audio books. Library websites make it easy to put materials on hold, and even have instant downloadable digital media available. And the best part of library websites is the ability to renew online. Gotta remember to renew.

  5. Bring your own lunches to work. This is a great way to get those leftovers eaten, plus you’ll save a bundle. And, when you don’t have to physically leave to buy food, your lunch break will actually last long enough for a little relaxation.

  6. Throw on a cardigan and turn that thermostat down. Start with a 2° decrease every week until you find your lowest comfort level.

  7. Be willing to give less expensive gifts or even give from what you already own. A book from your bookshelf or an admired household object is just as welcome as a packaged brand new gee-gaw.

  8. Be willing to not have all your belongings be the-best-of-the-best. There are no winners in the game of keeping up with the Joneses, and the ability to find happiness with where you are in life will serve you well.

  9. Become your own staff. Do you pay for others to mow your lawn, clean your house and prepare your meals? Don’t let yourself fall into the trap of thinking that these conveniences are a need. If your life is so overwhelming that you don’t have time to carry out your own tasks, then ask yourself these questions. Are you unwilling to be less than perfect? Are you so busy doing for others that you don’t have the energy or time to care for yourself?

  10. Cook from scratch and save restaurant meals for special occasions. Even a fancy meal cooked at home will most likely be cheaper than a low end restaurant meal.

  11. Join The buy-nothing-new Compact for the new year. Not sure if you can make a full year commitment to buy nothing new? Give it a one month trial and surprise yourself with what you’re capable of.

Do you agree with my top ten eleven list? Did I leave out your favorite money saver? Please share your ideas in the comments section below.

Please feel free to use the “share this” link below to share this list with others!

Katy Wolk-Stanley

“Use it up, wear it out, make it do or do without.”

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Obama — “Insulation is Sexy”

by Katy on December 16, 2009 · 9 comments

insulation

I have spent the last two days giving interviews about the No Heat Challenge, and pretty much feel like an authority on staying warm in a drafty old house at this point. Yes, I’d like to experience what it is to stay warm in a non-drafty house, but we simply don’t have the money to winterize the house at this time.

But it looks like the U.S. government is putting together an incentive plan to help us get our homes properly insulated. A Cash for Caulkers, if you will.

President Barack Obama spoke yesterday in a Virginia Home Depot about this tentative plan:

“I know the idea may not be very glamorous, although I get really excited about it. We were at the roundtable and somebody said, “Insulation’s not sexy,” and I disagree. Frank [Frank Blake, CEO of Home Depot], don’t you think? Insulation is sexy stuff. Here’s what’s sexy about it: saving money. Think about it this way. If you haven’t upgraded your home yet, it’s not just heat or cool air that’s escaping, it’s energy and money that you are wasting. If you saw $20 bills just sort of floating through the window, up into the atmosphere, you’d try and figure out how you were going to keep that. But that’s exactly what’s happening because of that lack of efficiency in our buildings.”

I’m apt to agree with Obama, as I’m pretty darned excited about the possibility of getting a financial incentive to help with the winterization, (and frankly summerization) of my 96-year-old home. Insulation is sexy.

Click here to watch the video of President Obama giving his “Insulation is Sexy” speech. I especially like how he ties together how this program would provide jobs, support American businesses, decrease energy usage and help consumers to save money. An easy sell for me.

Would you take part in a Cash for Caulkers incentive program? Please share your thoughts in the comments section below.

Katy Wolk-Stanley

“Use it up, wear it out, make it do or do without.”

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Yesterday’s USA Today interview has brought about a maelstrom of media attention, including two radio interviews and a TV news crew that came to the house, filming both me and my sons in the wee hours of the morning. (The story will run tomorrow and I will post a link when it comes available.)

Click here to listen to my interview with Joe Anderson of WCCO of Minneapolis, Minnesota. Note: This link is no longer working, and may be lost to the universe.

Thank you very much to Mr. Anderson for inviting me to talk on his radio program. It doesn’t take much to get me talking about frugality and decreasing one’s energy usage.

Katy Wolk-Stanley

“Use it up, wear it out, make it do or do without.”

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Why The Compact is a Shrewd Investment

by Katy on December 14, 2009 · 1 comment

The following is a reprint of a previously published column. Enjoy!

Wall Street

When I tell people that I do The Compact, (buy nothing new) they seem to assume that I am filling my house with tons of second-hand junk. Nothing could be farther from the truth.

It is because I do only buy used, that I can afford to fill my home with wonderful high-end antiques.

Even the most un-savvy investor has heard the term, “buy low, sell high.” This is exactly what I am doing. I buy everything for less than it’s worth, and I only shop at thrift stores and garage sales.

That cool looking Scandinavian mega-store dresser with the frosted glass panels? It depreciates sooner than it takes to digest those must-have Swedish meatballs.

That pretty 1920’s garage-sale dresser with the beveled glass knobs? Immediately worth more.

By following this mindset, I have been able to fill my home with classic, high quality furnishings.

  • 1920’s white-oak craftsman-style Carnegie library chairs for the dining room (11 for $75).
  • 1919 Maxfield Parrish print in original art deco frame ($21.50).
  • Vintage channel-back mohair couch ($125).
  • Free 1914 piano.
  • Assorted alabaster lamps (free to $15).

None of these furnishings will ever look dated. But if I did ever choose to sell them, it would be for more than I paid.

I also employ this “buy low, sell high” strategy for clothes, gift giving, toys and books. Pretty much all consumer goods.

Because it’s used, I can afford the very best quality.

Ask yourself this the next time you go shopping. What am I buying? Is this an investment?

Katy Wolk-Stanley

“Use it up, wear it out, make it do or do without.”

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The Non-Consumer Advocate in USA Today

by Katy on December 14, 2009 · 8 comments

Click here to read an article from today’s USA Today titled, “Households Take up Challenge to be Chilly.” Although my interview was pretty short, it’s still an interesting article and definitely worth a read.

The No Heat Challenge was officially over on November 1st, but we’re still keeping the thermostat set at at 64 during the day when the kids are home; 60 during the day when they’re at school and 57 degrees at night.

Go ahead and throw on an extra layer and turn that thermostat down. If nothing else, it gives you an excuse to snuggle with loved ones.

Katy Wolk-Stanley

“Use it up, wear it out, make it do or do without.”

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The Gift of Silence From a “Hemulen”

by Katy on December 14, 2009 · 9 comments

Hemulen

In today’s interconnected digital world it can near to impossible to allow oneself the gift of silence. There’s always a tempting e-mail to check, phone call to return or Facebook to update.

Sometimes when my kids are at school and my husband’s at work I am overwhelmed by the silence in my house. And as much as I appreciate the calm, it can be hard to concentrate with the vast nothingness of a quiet home. (I suppose this is part of why I’m able to be so productive while listening to audio books.)

I was reading a chapter of Tove Jansson’s Tales From Moominvalley aloud to my younger son at bedtime tonight, and this passage jumped out at me:

“The Hemulen threw himself headlong into the green, friendly silence, he gambolled in it, he wallowed in it, and he felt younger than he ever had before.”

And suddenly I craved nothing but that vast nothingness. I wanted to “gambol in the green friendly silence.” I wanted throw myself into silence. Me.

It’s easy to become addicted to constant stimulation and input, to never have that cushion of quiet to let ideas swirl and take form. I have a tendency to come up with great ideas while showering, and I know it’s because there’s nothing to do except think. Nothing to look at, nothing to listen to, no tasks to perform.

Even activities that used to serve as space cushions of silence no longer perform as such. Drivers chat with friends, pedestrians listen to their iPods and even the brief wait in line at the store becomes an opportunity for one more quick phone call.

My mother grew up the fourth child in a family of seven, and she can’t concentrate if it’s too quiet.  She’s a writer, and when she needs to buckle down and finish a chapter, she heads out to a restaurant. I have many childhood memories of sitting with her at the Newberry’s snack bar, while she put the finishing touches on an article. I, on the other hand, can’t write if there’s chaos around me. (Which is why I do almost all my writing after 11:00 P.M.)

I had already decided to take a break from Facebook until the end of the month, and may actually extend that. I want my thoughts to be enough. I don’t want to rely on constant stimulation. I want to gambol in the “green, friendly silence.”

Do you find that the cacophony of the external world is making silence the exception rather than the norm? Please share your thoughts in the comments section below.

Katy Wolk-Stanley

“Use it up, wear it out, make it do or do without.”

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Say “Sayonara” to Savings Barriers

by Katy on December 13, 2009 · 9 comments

Japan

I started a personal savings challenge at the beginning of last summer. I knew my 14-year-old son would be going on a class trip to Japan the following April and that the cost would be somewhere in the $2000 range, before spending money. He had gone on a similar class trip at the end of fifth grade, and although we were able to cover the $800 from our budget, the $2500 for my husband to chaperone had to be borrowed from my retirement 403b.

This time, I wanted to be more on the ball.

So I started to put any and all unexpected windfalls in my credit union savings account. From pennies found on the ground to the $400 from a garage sale, no amount was too small. And it’s amazing how quickly this money has added up. I decided that this savings project could only come from non-work related income, as I didn’t want to derail our debt repayment.

One aspect of my savings plan that made it more satisfying was moving our money over to an online ING DIRECT bank account. Not only are we actually earning interest on our savings, (1.3% vs. the 0.25% we were getting at the credit union) but we’re now able to subdivide our savings goals into named accounts. For example, we have:

  • Japan Trip
  • Japan Spending Money
  • Hiring a Web Designer
  • General Savings — 14-year-old, 11-year-old, etc.

I know that it’s kind of dorky, but this seems to be the extra impetus that I needed. It’s somehow more fun to add money into a named account rather than a general numbered account. I have no illusions that Warren Buffet handles his finances in this manner, but it works for me.

So far I have put over $2500 aside, which I’m pretty proud of. And starting in January, our mortgage will be going down around $200 per month due to a refinance, which will propel our debt repayment that much faster. (%$$ #$##@&% Money-pit of a house issues. Don’t get me started.)

I had always thought that I should not be putting money into savings until I was debt free. But this method made preparing for known large expenses next to impossible. Reading Dave Ramsey gave me permission to prepare for foreseen expenditures while simultaneously paying down debt.

One aspect of my savings project that I would not have foreseen, is that although I’m not working any extra shifts at work, (I’m a labor and delivery nurse) I have been willing to do extra money making tasks that I normally wouldn’t bother with. Like saying yes to taking all my mother’s pop cans for recycling or play cleaning lady here and there for my mother’s guest cottages. Part of my frugal living lifestyle meant that I didn’t have to try and scrounge extra income. That was the point. But now, I’m really enjoying seeing that extra cash build up and not just get sucked into the abyss of a generalized bank account. Clicking on my ING DIRECT accounts to view my balances is fun! Well . . .  Katy Wolk-Stanley fun.

I pretty much have enough money saved up for my son’s Japan trip at this point, and it has been completely painless. And when I switched the blog over to self hosting, I didn’t bat an eye at the expenses, (theme, web hosting, domain renewals, web designer, etc.) And last time I checked, I’d made a whopping 35 cents from the ads.

No over-time shifts or bizarre deprivation required.

So what will I save for after my son’s trip? I’m thinking I want to set up an official emergency fund, plus there’s another Japan trip during high school that’s for an entire summer.

That’s a lot of pop cans. But I’m not worried.

Are you working on your savings more than ever? Or are you living off an emergency fund? Please share your stories in the comments section below.

Katy Wolk-Stanley

“Use it up, wear it out, make it do or do without.”

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Non-Consumer Mish-Mash

by Katy on December 12, 2009 · 7 comments

Pressure Cooker

It’s time again for Non-Consumer Mish-Mash, where I write a little bit about this and a little bit about that.

Holiday gift giving stimulates people’s creativity and talent. Everywhere I turn, people are knitting, sewing, crafting and other such impressive endeavors. But I want to clarify that you don’t have to be crafty to be creative. I consider myself to be fairly creative, but not in the traditional sense. I am supremely mediocre in the visual arts, and have zero interest in making handcrafts. Where my creativity lies is in finding solutions and opportunities where others don’t.

No knitting needles required.

It’s time to check in on the $100 Holiday Gift Challenge which I proposed last month. I’ve been doing my Christmas shopping over the past couple weeks and doing pretty well. I’ve probably spent around $30 so far, but will actually be going over the $100 mark. This is mostly because my husband and I like to give his parents a gift certificate to their favorite restaurant, which is pretty pricey.

Have you ever noticed how easy it is to give a frugal present to people you know really well, yet end up spending much more on those you don’t? Case in point — I’ve bought a ton of great gifts for my sister’s birthday next week, yet I’ve probably only spent around $15. For my in-laws whose taste I’m not as familiar with, we’ll spend a big chunk.

In the category of “at least I tried” I have tonight’s dinner. My plan was to make a hearty black bean soup, with cornbread and a salad. However, I accidently let all the water boil out of the pressure cooker, thus making the beans completely inedible. My husband and I were in the living room when we heard a loud “pop” and then a sharp hissing sound from the kitchen. I was picturing black beans all over the ceiling, but it turned out that the tiny round gasket, (apparently a safety feature) exploded from the lid and yes, it did hit the ceiling.

Instead we ate packaged Mandarin Orange chicken from Trader Joe’s with rice, no salad. It’s important to have a plan B.

And I now have a small black circle on the ceiling above my stove. And that tiny rubber gasket? Nowhere to be seen.

Katy Wolk-Stanley

“Use it up, wear it out, make it do or do without.”

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The following is a guest post (and reprint) by Jonathan Bloom of wastedfood.com. And remember, it’s never too late to join The Non-Consumer Advocate’s Waste-No-Food-Challenge!

Katy Wolk-Stanley

“Use it up, wear it out, make it do or do without.”

Eggs

From individual eggs to bottled water (water!), expiration dates are printed everywhere these days. While they ultimately do more help than harm, expiration dates and the confusion they create usually send a lot of perfectly good food straight from the store to the Dumpster.

So here are eight things to keep in mind about expiration dates on food.

  1. “Sell by” versus “use by.” The former term is intended for vendors, to let them know how long to display items on store shelves. The latter term is for consumers. But you’ve probably also seen such terms as “best before,” “use or freeze by,” and “enjoy before.” These terms are also geared to consumers, and are pretty self-explanatory. Just promise me that you won’t treat all dates on food products as “toss-by” dates. Most food is perfectly good for about a week after the sell-by date passes, and the same can usually be said for items with use-by dates.
  2. Date labels are conservative. Once food producers ship their goods, plenty can go wrong with getting the product safely to the consumer. A truck’s refrigerated unit can malfunction, or goods can linger on a loading dock on a hot day. Manufacturers factor in that uncertainty by planning for just about the worst-case scenario. Food producers naturally want to ensure that their products are consumed at peak freshness (and, of course, avoid lawsuits). Consider how careful the USDA is with theirsuggested storage times, telling consumers that chicken or ground beef should only be stored for one or two days after purchase. Most of us keep our chicken breasts or ground chuck in the fridge much longer, with no ill effects.
  3. Some eggs are etched with expiration dates.

    Flavor goes before freshness. Most foods are safe to eat for a few days after their expiration dates; they won’t instantly grow mold on the day after a use-by date. They’re just not quite as fresh as the producer would like.

    As the USDA explains, “‘Use-by’ dates usually refer to best quality and are not safety dates. But even if the date expires during home storage, a product should be safe, wholesome, and of good quality — if handled properly and kept at 40 degrees or below.”

    With that in mind, you just have to come up with finding appropriate uses for items as they wane. Leftover chicken converts to chicken salad. Bread becomes French toast orcroutons. And so forth.

  4. Overzealous producers and packers. Many food products are actually tossed long before their actual expiration dates.This early chucking occurs when a grower or packer determines that a product won’t make the cross-country trip to stores in time. Most producers want their products to arrive in stores more than a week before their sell-by dates. So as a result of distance and caution, our food chain sends tons of bagged spinach, for example, to the landfill a full two weeks before the use-by date printed on the label.
  5. Wasteful retailers. To keep up their image of selling only the freshest foods, most grocery stores pull some items from their shelves well before their stamped sell-by dates. And almost all food items are removed by the morning of their sell-by dates.At the extreme end of this practice, it’s common for stores to pull baby formula — the only food item required by federal law to have an expiration date — from shelves 60 days before its expiration date. (That said, several national retailers have been sued recently for selling infant formula that had expired several weeks earlier. So buyer beware.)
  6. Donations bonus. Expiration dates are a boon for food donations, as they create a steady supply of edible but not sellable food. If the dates didn’t exist, stores might keep items on the shelves until they actually started going bad. Instead, these sell-by casualties are staples at most food banks across the country. Food-recovery groups rescue these goods from supermarkets that recognize the folly of throwing away perfectly good food. However, the donations can only occur if there’s a nonprofit organization willing to collect the food and a store manager who knows his company won’t be held liable (under the Good Samaritan Act) should anyone get sick from food donated in good faith.
  7. Donations hindrance. Because some stores view expiration dates as binding, they choose not to donate items at or past their sell-by dates. This occurs most often with meat and produce, which many stores are reluctant to donate.This is doubly unfortunate, as the expiration dates on fresh proteins, fruits, and vegetables are just as cautious as for other food products, and fresh foods are the toughest items for food banks to amass. Bread products, on the other hand, are a common donation from supermarkets.
  8. Use your nose. Trust your senses, not the date labels. If an item that’s past its expiration date still looks good, take a sniff or have a taste and decide for yourself. And keep in mind the fact that if you’re not sure if you’ve ever smelled rotten milk, you haven’t.

Jonathan Bloom is a journalist writing a book on wasted food in America. When he’s not combing through the discount produce rack, he’s blogging on the topic at Wasted Food.com.

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Non-Consumer Holiday Ideas and Book Winner

by Katy on December 10, 2009 · 4 comments

Unplug The Christmas Machine

Thank you to everyone who shared their holiday customs and ideas to enter and win a copy of Unplug The Christmas Machine: A Complete Guide to Putting Love and Joy Back into The Season. Your stories were a true inspiration.

Congratulations to Lisa for her award winning comment, which was chosen at random.

Here are just a few of the 77 entries:

From Lisa:

My Christmas budget is non-existent this year (as it has been many other years). So gifts will be homemade or second-hand. My brother’s family and ours will get together for a holiday feast and exchange of gifts. Last year my sister in law gave us a used food processor. :-) It has been a godsend especially at harvest time and is used almost daily. I gave them a quilt top that my mom and I had put together years ago. There are no small children in our family. We big “kids” can have just as much fun without the hassles of crowded stores and forced good cheer.

From Tiffany:

It’s too late for this year, but the day after Christmas I’m going to try to talk my extended family into doing some sort of secret santa so everyone buys and recieves only ONE gift. None of us need, or really want, anything. I’m hoping everyone will go along with it, wish me luck!

From Judy:

Every year I try to cut back a little more. We are giving experiential gifts to our grandchildren, taking my grandson to a couple of train shows, taking my granddaughter to a performance of the Nutcracker. The rest of their gifts are used books purchased at public library, Goodwill and one new one each purchased at Borders clearance and an educational game for each, also purchased at Borders with discount coupon. My mother is also getting books, purchased used and Borders clearance, CDs made by my husband. Our daughters and spouse and fiance are getting gift cards to restaurants. I did buy a couple of items such as candles and wine(consumables, no clutter) to go with gift cards. I am regifting a small family sculpture to our oldest daughter and family. Our decorating is a small artificial tree purchased years ago(I would no longer buy artificial for environmental reasons). We have switched to LED lights to conserve energy. A few greens, holly and red candles scattered through the house completes the decorations. During the year if I find things at the Goodwill that will work as gifts, I buy them and put away.

From 365Girl:

My journey toward restrained consumerism and socially aware purchases started March 2009. This is my first Christmas seriously considering each purchase – the problem I have is my family and friends aren’t on the same journey. I cannot ‘not buy’ this year – the shock would be too immense – so I have opted for experience purchases where they get to do something rather than fill their homes with clutter. Next year however I may not hold back – I have pre-warned a few close members about my intentions!

From April:

This year, my family have all agreed to give only practical, consumable items for Christmas. I am buying the food for the meal, and we are all chipping in to buy my cousin a case of toilet paper (her request), ordering a load of firewood for my grandma who has only wood heat…stuff like that. These gifts don’t require hours of shopping, and won’t end up being one more unwanted item shoved in the back of a drawer somewhere. We know they will be used and appreciated, and especially this year, with money so tight, practical gifts seem the way to go.

Katy Wolk-Stanley

“Use it up, wear it out, make it do or do without.”

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