Gift Cards: Use 'Em If You Got 'Em

I received some interesting information today about retail stores and gift cards and given that gift cards have become extremely popular during the holiday season, I thought I would pass it along to you. It has been reported that there will be a number of potential store closings during the upcoming months and that purchasing gift cards from any of these retailers may NOT be your safest bet. The companies/stores I was told were in jeopardy include

• Circuit City ... most recent (not sure how many)
• Ann Taylor - 117 stores nationwide are to be shuttered
• Lane Bryant/Fashion Bug/Catherine's - to close 150 stores nationwide
• Eddie Bauer - 27 stores; more after January 2009
• Cache - all stores
• Talbots - all stores
• J. Jill - all stores
• GAP - 85 stores
• Footlocker - closing 140 stores; more after January 2009
• Wickes Furniture - closing
• Levitz - closing remaining stores
• Bombay - closing remaining stores
• Zales - closing 82 stores; and 105 after January 2009
• Whitehall - closing all stores
• Piercing Pagoda - closing all stores
• Disney - closing 98 stores; more after January 2009.
• Home Depot - closing 15 stores; (1 in New Brunswick, NJ)
• Macys - will close 9 stores after January 2009
• Linens and Things - closing all stores
• Movie Galley - closing all stores
• Pacific Sunware - closing all stores
• Pep Boys - closing 33 stores
• Sprint/ Nextel - closing 133 stores
• JC Penney - closing a number of stores after January 2009
• Ethan Allen - closing 12 stores.
• Wilson Leather - closing all stores
• Sharper Image - closing all stores
• K B Toys - closing 356 stores
• Loews - will close some stores
• Dillard's - will close some stores

If you currently have gift cards to any of these stores, you might want to use them before it's too late. If you were planning on buying gift cards to any of these stores this holiday season, you might want to rethink your purchase or tell the recipients of the gift cards to make sure and use them quickly.

On a lighter note, you might find some great deals at these stores if they really are closing and have to liquidate their merchandise and stock. As sad as it is to see these potential store closings, sometimes society has to break itself down in order to build itself up even stronger. Again, our economy always finds a way to rebound, but right now, it might be better to make informed choices with your money instead of taking chances.

How to Pay Off Credit Card Debt

I have been trying to get a grip on my finances lately. I spend lots of time looking at how much I make versus how much I owe. I put numbers in spreadsheets and try to forecast out how long it is going to take me to pay off credit card debt, then I speculate what would happen if I convince someone to lower my interest rate on this credit card and that loan. Evaluating my credit cards is just frustrating because I know I am the only one to blame for the situation, but it is something that I have to do to make me feel like I have some control over my money, instead of it controlling me.

I started looking around at other people's sites to see what tips they may have for helping me with my revolving door of money anxieties and came across a Credit Card Payoff Calculator and thought I would share. I started playing with it and found it to be very useful and somewhat depressing all at the same time, because it clearly shows you how much interest you are paying. But, if you are going to play with credit cards, interest is always going to be on the opposing team.

I know there are a lot of Debt Calculators out there, but I like this one because it specifically targets credit cards, and it shows a couple of graphs, which are very conducive to visual learning.


As you can see, you can calculate your payoff two different ways. One is to input a monthly payment and one is to input the total number of months in which you would like to pay it off.

It is a free download and can be used with Microsoft Excel, Google Docs, and OpenOffice. Try it out and see if it helps you get your mind around your finances. It definitely has helped me. I should be debt free in about 92.48 years...not really, but that is what it feels like sometimes! Let's hope your debt free timeframe is a lot shorter than mine. You can download your own copy of the Credit Card Payoff Calculator here. Be sure to read the entire site entry as there are some other tips to help pay off credit card debt.

Online Coupons and Discount Codes

In the 1970s, I had a paper route to earn a little spending money. It was an afternoon route except for Sundays, of course. So everyday after school, I would load up my bike and deliver papers to my 100 or so customers. Wednesday and Sundays were the worst because I could only take half of the papers with me due to the coupon sections making the papers so large. It almost seems nostalgic now to think about that even though it was only 30ish years ago. Nevertheless, coupons aren't typically used the same way today as they were back then. But should they be, especially in today's economy? Well, if you haven't thought about it before, it might be worth thinking about now. After all, every little bit helps.

Fast forward a couple of decades from my paper route days, and we find ourselves in the world of the internet. More and more people are buying online, which begs to question do they have the same opportunities for coupon usage as we did way back when? The answer is yes, although it is more often times called a Discount Code or Online Coupon Code, but work just the same as the old fashion coupons clipped from the papers.

So, if you have ever found yourself at a website checkout page and see the box that says, "Enter Your Discount Code Here" and said to yourself, where the heck do I get a discount code, then it should be a sign that the codes are out there, somewhere, lurking, just waiting for you to find them.

I want to give you a couple of places to start. Again, these are only a couple of suggestions because there are many, many sites out there that offer discount codes, you just have to find them.

RetailMeNot.com offers online coupon codes for more than 20,000 stores. The website it easy to use by offering a search function as well as a front page listing of the most popular featured stores. I am sure you are bound to find something with more than 20,000 stores to choose from.

CouponAlbum.com features coupons, promotional codes, coupon codes, and free online coupons to variety of stores, and there are a lot. Their front page lists handpicked deals of the day, featured coupons, links to popular stores with the featured current promotion.

Again, these are just a couple of suggested sites to get you started, but I just wanted to plant this idea into your head as we head into the holiday season. Wouldn't it be nice to get that extra little discount for Christmas? Here's to Happy Shopping!

State of the Ecomony: Should I Panic?

Wow, I just checked my 401k and to say I am disappointed at its current state of affairs would be an understatement, and I am sure I am not alone in my thinking. With the Dow going up and down along with all of the other market indicators, some of you may be in panic mode right about now. So what should you do? The main thing to do is not to panic! Easier said that done, right? Well, here are some things to think about.

1. Check your portfolios and review where your money is and how each of those avenues is performing at the moment. If you need to tweak your allocations a bit, be wise and do what makes you comfortable, but remember that the time to buy is when stock prices are low. If you can afford it, now is the time to buy.
   
2. I would suggest NOT pulling all of your money out of the market, bank, or other money saving realms and stuffing it in coffee cans and burying them in the backyard. The economy and stock market will rebound. History proves this to be true. It may be a little scary but you will be best to ride it out. What I can guarantee is that your backyard will give you a big fat doughnut of an ROI on your investment whereas the market may scare you a bit, but will, in time, give you a positive ROI.
   
3. Evaluate your everyday spending habits right now and cut back if you need to. If you can save a little bit now, it will pay off in the long run. Please remember, the banks are insured within the limits of what the majority of the people actually have in their checking and saving accounts.

I know this sounds easier said that done, as mentioned previously, but you just have to trust the system. Our economy has always been strong and even when tested, always bounces back. Just take a deep breath and do what is comfortable for you, but whatever you do, DON'T PANIC. Make wise and educated choices, especially now.

How Much Does It Cost To Go Camping?

Last weekend, we went camping at Palo Duro Canyon State Park, which is said to be the second largest canyon in the United States next to the Grand Canyon. I had no idea this place even existed when I moved to Texas many years ago, but I'm really glad to have found it. It is amazingly beautiful in it's own right. It is 120 miles long, as much as 20 miles wide, and has a maximum depth of more than 800 feet. Its elevation at the rim is 3,500 feet above sea level.


We had never camped there before, only done day visits for hiking and mountain biking, but we spent 3 days and 2 nights at the campgrounds this time and mainly hiked during the day. It was an amazing adventure. The only thing I didn't like about it was that, as everything does, it costs money to go there. However, I want to give you some tips on how to save money while spending time with your families at your national and state parks.

Tip 1: State Park Passes
Many state parks charge any number of fees, including entrance (resident and non-resident in some cases), parking, camping, hook-up, etc. While some of these fees are necessary and not outrageous (especially when compared to hotel and entertainment prices), some of them can actually be curtailed just a bit if you do them right. The main fee that you can curtail after a minimal initial investment is the entrance fee.

For example, our 3 day 2 night stay at Palo Duro cost us $37 for the campground fee and $16 for the entrance fee. Did you know that with a Texas State Park Pass, we could have saved the $16 entry fee not only at Palo Duro Canyon, but all State Parks in Texas? The pass costs $60 annually for one vehicle regardless of number of passengers and is good for 12 months from the time of purchase. The Texas Pass will pay for itself in 4 outings. Not too bad if you camp or visit parks a lot. And, did you know that Texas is not the only state that offers this kind of pass?

Tip 2: National Park Pass
If you and your family frequently visit state parks you may want to investigate whether or not there is a State Park Pass program you can invest in. I have included a website that lists all of the State Park Pass programs as well as a National Program that costs a bit more ($80) but gets you into any National Park in the United States and Canada.

State Park Pass Info
National Park Pass Info

Camping is a fantastic family adventure. It typically costs less than a weekend outing to a ballgame or other event, and really gives you the opportunity for quality time with our families that we so often overlook these days. Here's to you finding more ways to save money while enjoying your time in the great outdoors.

The Inexpensive Spice of Life

Spices are and should be one of the cornerstones of any kitchen. Whether you use them often or not, I'll bet you have a variety of spices, including salt and pepper, in your kitchen cabinets right now. How long have they been in there may be a question you wish not to consider (I know I didn't), but you have them nonetheless.

WHAT DO SPICES AND SAVING MONEY HAVE IN COMMON?

Plenty. Spices Are Expensive! But, they sure do help make your food taste better, so we all need some (potatoes without salt? Spaghetti sauce without oregano or basil? YUK!). You may be saying to yourself, why should I buy more spices if I have a cabinet full? Well, my question to you is how long have you had them and are they still good? One article I read stated this.

Stored in an airtight container, in a cool, dry place, spices retain their potency longer than you'd think — as long as 4 years for whole spices, 2 to 3 years for ground spices, and 1 to 3 years for leafy herbs, depending on the herb.

That sounds pretty good, but again, make sure you read the first 5 words, "Stored in an airtight container." So, once you have inventoried your spice collection and determined which ones still have some "Omph" and which ones don't, you may find yourself at the local store seeking out more spices.

SPICY TIP #1: Buy spices from bulk bins and save yourself a fortune.

Recently, my boyfriend and I decided to completely restock our spice cabinet. We threw out everything and started over. We determined we had spices older than his youngest child .... who is now 10. (Yeah, I know....Eeww was my reaction too). Instead of buying all of our spices at the local grocery store which could and will cost a fortune, we bought all of our spices from bulk bins. What a savings. For example, we bought 3 ounces of basil (yes we like Italian cooking) for about $1.00. Try topping that deal in the grocery store.

SPICY TIP #2: When you throw out your old spices, just through out the spices and not the bottles. That way, you can save the containers and just replace the spices.

This tip helped us out a lot because we didn't have to spend more money on purchasing spice jars, although you may have to if your cinnamon was packed so tightly it adhered itself to the sides of the jar. Regardless, you can reuse the bottles if you wash and dry them thoroughly. So where can I get these great deals on bulk bin spices?

SPICY TIP #3: Find a store near you and have fun.

If you are lucky enough to have a Central Market, Whole Foods, Ballard Market, or something similar, you can buy your spices from the bins and save money. They keep them stocked with fresh products, so you need not worry about getting "old" spices.

Here's to spicing up your life and your food all while saving money!

Dear Financial Diary...

"Where did all my money go?" Tell me you have NEVER said this, and I will call you a big LIAR!!!!!! Not that I don't like you or anything, but we all need to be honest with ourselves. Have you ever felt like you were financially lost way before payday because you had no idea where all of your money went? I have felt that way many a time and here is what I did about it. I kept a financial diary for a week. As painstakingly annoying as it was, I wrote down every last cent I spent and what I spent it on. It was an eye opening experience, to say the least.

Here is what you do. Get a notebook and pen that you can put in your pocket, purse, backpack, or whatever you happen to carry your stuff around in and know where they are when you need them. Then, every time you spend any money, whether it be cash, check, check card, or credit card, write it down. Write down how much you spent, when you spent it, where you spent it, and what it was for. At the end of the week, review your entries. Review your entries for any patterns or trends to show yourself where/how/when you are spending all of your money. This is a very easy exercise and one that everyone should do when they start to feel like they are spiraling out of control financially.

Here are a few of the observations I made about myself.

1. I eat out WAY to much because I am too lazy to cook when I get home from work.
   
2. I spend a lot of money on junk food and sodas at work. I guess the scale in my bathroom could have told me the same thing. Ugh!
   
3. I spend a lot of time in the same stores and have discovered that I frequent those stores because I am bored and think spending money will cure my boredom. WRONG!
   
4. I am too easily influenced by friends when it comes to happy hour.
5. I should take my lunch to work more often and not eat out so much with my coworkers.
6. I need to learn how to say no to my family when they constantly want money here and there and it is not a necessity.
   

After my little exercise, I made conscience efforts to recognize when I started to fall into my old habits. I am not saying I never eat out, go to happy hour, give my family money, or have a soda at work, but I try to watch my money a little closer so that I can still have fun, but not at the expense of getting caught up in my little drama entitled "Where Did All My Money Go?"

I bet you will be surprised at how much money you could save by just doing a one week self-evaluation of your spending habits. Try it and see if you don't find some financial corners you can cut. Good luck!