PT Money » Frugal Living

15 Cheap and Creative Halloween Costumes for 2011

Kevin — Wed, 19 Oct 2011 06:21:34 +0000

Halloween is just around the corner. If you’re like me you usually get an invite to a Halloween party about 3 days before the party. If it’s a costume party, you’re out of luck. The stores are picked over and you end up with some garbage cheap Halloween costume that everyone silently mocks.

The best costumes are unique, creative, memorable, and instantly recognizable. So while going as Fat Elvis is instantly recognizable and perhaps somewhat memorial… it isn’t unique. Anyone can be (or buy the costume for) Fat Elvis.

As with most things in life a little planning ahead of time can lead to some pretty incredible costume results — and at a cheap price, too. I’m not a huge fan of spending hundreds and hundreds of dollars for a costume I’ll wear once even if there is a contest for best costume.

Halloween Costume Predictions for 2011

Nicki Minaj – File this in “things I wish I didn’t know”. Nicki Minaj is picking up where Lady Gaga left off last year. Like Gaga, her on-stage and on-video costumes make her a perfect fit for a Halloween time favorite. Pink wigs will be unstoppable this year. As will chants to Super Bass. Dang it if that song hasn’t been stuck in my head all day.

Angry Birds – Anyone with a smart phone or tablet has played the addictive game Angry Birds. In a way, it’s the new Tetris. I love it, but I’m too cheap to spring for the paid version. These make great group costumes because there are many different types and sizes to choose from. Plus, you get to run around bumping into things all night.

Morph Suit Guy – These full body stockings are surprisingly growing in popularity. You may have seen them at sporting events and other event marketing settings. Slightly creepy and revealing. But now that they are available in different patterns and prints, they will be more prevalent as Halloween costumes. If you choose this one, do us all a favor and wear some boxer shorts on top.

Charlie Sheen – “Winning” is kind of played out at this point. But this is such a low-maintenance costume that many will sport it (and the “winning” catch phrase) all night long at the Halloween party. Just don’t party too hard and get fired the next day.

Will and Kate – Feel like getting dressed in your best for Halloween? Why not bring your partner along and dress as the new royal couple. Going solo, just buy one of those funky hats that the royal family was sporting and wear a nice dress. You’re sure to impress. Bonus points if you talk in a British accent all night.

Maybe too soon to try and pull off? Amy Winehouse, Osama bin Laden (although Zombie Bin Laden might be kind of cool), and Casey Anthony (probably never a good idea to go as her).

15 Cheap and Creative Halloween Costumes for 2011 is a post from: PT Money: Personal Finance by PT.
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How to Overcome Frugal Fatigue

Miranda Marquit — Fri, 12 Aug 2011 10:30:57 +0000

Tired as heck from saving too much?

One of the issues that has arisen with the recent economic troubles (and is likely to rise again with concerns about the U.S. deficit and the recent S&P credit rating downgrade) is that of frugal fatigue.

Many people began living more frugally after the 2008 global financial crisis, and continue making efforts to live frugally in the face of further economic uncertainty.

However, after a while it can become wearing to save too much. We make restrictive budgets, and we try to avoid spending money.

Over time, all this restrictiveness can result in a condition known as “frugal fatigue,” in which you simply get tired of always pinching pennies and trying to deny yourself. In some cases, frugal fatigue can result in getting a little crazy with the spending in order to “make up” for all of the ways you have denied yourself.

Before you let frugal fatigue get the best of you, here are some things you can try to combat the feeling:

Focus on What You Already Have

Take a look at what you already have. In many cases, frugal fatigue comes from wishing you had something else. Before you get too wrapped up in what you have been denying yourself, take a look at the good things in your life. Some of these might include:

Good food to eat
A few comforts at home
Family
Good friends
Your health
A roof over your head
Good books to read
The park nearby
Family game night
The occasional treat

In many cases, you might have more than you thought. Focusing your energy on being grateful what you have, rather than always pining for what you don’t have, can really help you get over frugal fatigue.

Splurge on Something Small

Another great way to avoid falling prey to frugal fatigue is to plan small splurges. You can set money aside each month in a “splurge fund.” This will allow you to get something fun, and keep you going.

Rather than just getting sick of it all and splurging big, a few small splurges, when they make sense for your budget, can help you feel as though you are enjoying life without breaking the bank or sacrificing your frugal lifestyle.

Some small splurges might include getting ice cream, buying a new book, visiting the cheap theater, buying a piece of sports equipment, or getting an inexpensive used video game. When you take the time to enjoy yourself, and use some of your money for “fun,” you will be less inclined to give up your frugal habits altogether.

Look for Discounts on Things You Like to Do

You can also enjoy yourself, and avoid frugal fatigue, by looking for discounted activities. Look for discount passes to amusement parks, or join a daily deal site to help you get access to great deals. (Just make sure you are careful of what you buy.)

You can also look for discounted activities around town, such as summer concerts in the park, sledding at a local hill, camping, bike riding, and checking out books and movies at the library. Keep an eye out for free museum days, or kids eat free days at local restaurants.

This will help you stay on top of your frugal budget, while still ensure that you have some fun and avoid frugal fatigue.

What are some of your ideas for avoiding frugal fatigue?

Photo by MandCo

How to Overcome Frugal Fatigue is a post from: PT Money: Personal Finance by PT.
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Downsize Your Lifestyle for a Lighter Future

Miranda Marquit — Wed, 29 Jun 2011 22:06:39 +0000

Could you use to downsize your stuff?

It occurred to me last Christmas, as my husband asked me what I wanted, that I had too much stuff.

I couldn’t really think of anything that I really wanted — much less actually needed. And, as I looked around at a house full of things, I began fantasizing about getting rid of some of our stuff.

The fact that my family might have to move has me even more interested in downsizing, since I don’t want to take it all with me.

But where do we begin with downsizing the lifestyle? It isn’t always easy to get rid of stuff, and it can be just as hard to break habits of spending money on more stuff. So, as I work toward downsizing my lifestyle, here are some things I want to try:

Stop Buying Stuff

The first thing you need to do as you begin downsizing your lifestyle is to stop buying stuff. Impose a waiting period on anything you think you need. After a couple of weeks, you might realize that the “need” is actually a want.

When you do buy items, consider how you will use it, and how often it will be used. Consider instituting a balance rule: Whenever you buy something, get rid of an item you already have.

I have to admit a weakness in this area, though. I love books, and I have a hard time not buying a book. With the Borders in my town closing, I went a little crazy and bought a bunch of books on discount.

I could probably downsize my lifestyle with the help of some sort of e-reader, but I’m just not there yet. But I’m trying to work up to it.

Start in One Area of Your Home

It can be overwhelming to try and downsize all at once. Instead, start in one area of your home. The closet is a good place to start; you can get rid of the clothes that don’t fit anymore, or outfits you haven’t worn in years.

Also, concentrate on boxed items. If you haven’t thought about it in a long time, why do you need to keep it? Make a plan and move through different areas of the house.

Find a Way to Lessen the Blow

It can be hard to get rid of stuff. We become emotionally attached to things quite often. In order to overcome this, it can help to find a way to soften the blow. Sell your stuff at a yard sale, or online.

You can donate your items. This will help you feel better about helping others, and you can get a tax deduction for the value of donated items in good condition. You can also consider how much time, energy and money you will save now that you don’t have to worry as much about maintaining, storing and buying stuff.

Shift Your Focus

Finally, it can help to shift your focus. I’m more of an experienced-based person. Without spending so much money on stuff, I would have more disposable income to enjoy dining out (which I love to do), and travel.

Additionally, having less stuff means being creative about finding ways to spend quality time with my husband and son. Shift your focus to relationships and experiences, and try to break the tie between material possessions and feelings of status and worth.

When you shift your focus to developing desired inner traits, rather than focusing on outward material things, you might find it easier to downsize your lifestyle.

Photo by striatic

Downsize Your Lifestyle for a Lighter Future is a post from: PT Money: Personal Finance by PT.
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30 Free Things to Do in the Summer

Philip Taylor — Wed, 22 Jun 2011 21:42:07 +0000

It’s official. Summer is here.

Let’s have some fun!

Here are 30 fun and free (minus the fuel costs) things you can do while it’s warm outside.

I have a little two year old so some of these may be slanted for folks with kids.

Free Things to Do in the Summer

1. Go to the park. Explore what your city has to offer. Plan a frugal family outing. Make a goal to see all the parks in your area and swing on every swing set.

2. Swim at your community pool or spray park. Slather on the sunscreen and head out to the pool for a few hours. This is my favorite kind of summer fun.

3. Visit the library. This place is awesome. The library can save you money. It is the perfect place to grab some free air conditioner in the summer months.

4. Play in the sprinklers. Throw on your bathing suit and run through the sprinklers. You know you want to.

5. Go for a hike. Scout out a nearby State Park for good hiking trails. Bring some water, a compass, and your map.

6. Play a board game. Enjoy the cool air conditioner and gather around the kitchen table for a fun family board game.

7. Learn a new skill. Learn to play an instrument, knit, etc. At the end of the summer, you’ll have “mad skillz”.

8. Take pictures. Find a few subjects and go to town. Better yet, why not organize the pictures you already have.

9. Make popsicles. Poor some of that cool-aid in the ice trays, or in some small cups. Add a spoon for a holder.

10. Watch a movie. You can rent one from the library, watch it on an over-the-air channel, or go to a movie in the park event. h/t @JayFleischman

11. Read a book. They have these things for free at your local library. Curl up next to the air conditioning vent and read to your heart’s content.

12. Play some online games. Look up some free games on your computer, tablet, or smart phone. There are plenty of fun, free games. Angry Birds, anyone?

13. Visit a free zoo/museum. Find out if there are any free zoos or museums (or at least free days) in your area. Show up.

14. Learn to cook something. Try out a new recipe. Fire up the grill to cook a rare meat (i.e. ostrich burgers).

15. Start a blog. WordPress.com is free. So is Blogger.com. Starting a blog is a blast. Use your creativity and build a following.

16. Write a book. Don’t stop with a blog. Write your own book. Self-publishing is easy these days. You could have your book on Amazon in a few days.

17. Play a sport. I like basketball. What about you?

18. Attend a free workout class. Many gyms, bootcamps, etc. will let you try their facility or program at least once for free to help you get fit this summer.

19. Blow bubbles. Make some bubbles using dish washing soap, water, and sugar (for consistency).

20. Have a garage sale. Have fun (and make money) getting rid of all of your stuff. A successful garage sale helps you meet your neighbors too.

21. Visit a Vacation Bible school. There’s one going on each week in your town, I just know it. These are free and they teach your kids awesome life (and eternal) lessons.

22. Start a garden. Find some scrap lumber to make a square foot garden in your back yard. Seeds are cheap.

23. Watch the sun rise. Get up early. Find a good spot. Look East.

24. Go to the beach. Bring a towel and take a dip. Watch out for sharks.

25. Ride your bike. Take off from your house or find a nice trail in the region. Always wear a helmet.

26. Build a fort. Pillow and blanket forts are awesome. Or go big with a fort made of scraps of lumber.

27. Write with sidewalk chalk. Unleash your inner artists and show the neighbors what you got. After it rains, do it again.

28. Have a picnic. Instead of eating lunch at your kitchen table for the umpteenth time, breakout the pic-a-nic basket and blanket. Get some sun while you eat.

29. Go to a festival or county fair. Check out your community calendar and find free events in your area. h/t @2MinuteFinance

30. Volunteer. Find a local person or organization in need (it could be your older neighbor). Offer to help out for an afternoon.

Your turn! What are your favorite free things to do in the summer? Add to the list by leaving your comment below.

Photo by Todd Baker << technowannabe

30 Free Things to Do in the Summer is a post from: PT Money: Personal Finance by PT.
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Donating Your Body to Science

Sandra Parker — Wed, 01 Jun 2011 16:55:07 +0000

Would you consider donating your body to science?

There are few things in this world that are guaranteed, but taxes and death are two of them. Speaking of death, have you seen the commercials with those lousy actors that want you to buy extra insurance after letting you know just how much the average funeral costs. The commercial might be bunk (at least in theory simply because they want you to buy more life insurance) the cost of the average funeral is not. It’s really about $5,000 and before you say it, you really don’t save that much by being cremated.

So, what can you do to defray some of your final expenses AND help someone out? Are you sitting down? Donate your body to science! Hold your horses before you give yourself a heart attack. Yes, you read the last sentence correctly. Donate your body to science.

How Donating Your Body to Medical Science Works

Scientists need bodies in order to understand how things work AND you get to completely forgo any of the costs associated with the handling of your remains.

No embalming costs (this damages the tissues and prevents certain tests from being performed),
no coffin costs (you can rent one from the funeral home for the memorial service, if you choose to have one),
and no cremation fees.

As a matter of fact, you don’t have to pay one dime in final expenses if you choose to go this route and have a private memorial service. Here’s how.

The easiest way to do this is to pre-register with your local medical teaching hospital. In order to complete this step, you’ll have to complete the forms included in the registration packet those wonderful people at the school give you.

Sign the consent form and whatever you do, don’t forget to add this language to your will so that your family won’t get into a big argument over whether or not you were kidding. Make sure that the folks handling your final affairs are well aware of your directive so that they will actually tell the funeral service to call the school when you kick it. Proper arrangements will be made by the service in charge of your body so that you are properly preserved.

You might want to ask to see what the hospital or school plans to do with your body after their done with you, if you or anyone in your family cares. Most will cremate you at their expense and turn you back over to your family after you have served your purpose.

Donating Individual Organs to Save Lives

If you would rather your organs be used to help save someone else’s life instead of being used as a practice surgery cadaver, you have to register with the Network For Organ Sharing as well check the little box on your driver’s license. Just checking the box won’t get it done. Then, your family can choose to have the memorial service of their choice at the venue of their choice and spend as much or as little as they choose.

Donating Your Body to Science for Money is Illegal

One thing to keep in mind is that no matter how much the school or organ network needs your body, they won’t pay you for it. By law, they are unable to actually purchase bodies to use for science. Can you imagine what life would be like if they did? Talk about a new perspective on grave robbing.

Donating your body to science is a noble (and cheap) way to make sure that you are properly taken care of after you’ve taken your final breaths. The work done on your body can mean saving the life of someone else. Plus, it’ll save you a boatload of cash.

What about you? Would you consider donating your body to science?

Donating Your Body to Science is a post from: PT Money: Personal Finance by PT.
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PTM 004: Making Money by Starting Your Own Summer Camp with Lori Martin of Cub Creek Science Camp

Find the Cheapest Gas In Your Zip Code

Philip Taylor — Tue, 24 May 2011 17:45:53 +0000

Are you finding the cheapest gas in your zip code?

Hands down, the best way to find the cheapest gas in your zip code and cut fuel costs is by using GasBuddy.

They have a website at gasbuddy.com and they have their very popular mobile device app, GasBuddy available for the Android, iPhone, Window Phones, Blackberry, and they also have a mobile browser compatible site.

How GasBuddy Works to Find the Cheapest Gas

The website and app are both completely free. I just downloaded the app for the iPhone. Once you allow the app to know your location, or once you put in your zip code, you can start sorting through a list of gas stations nearby.

The app will show you gas stations in a list format or on a map if you like. You can sort the list by location (closest) or by price. Even when you sort by price, the distance from you is listed along with the station information. That way you can make a determination if it’s worth it to drive to that station to get the gas.

But the absolute best way to find the best station is to look at the map. By pulling up the map, you get to see little icons representing gas stations in your area. You can quickly and visually see which is your best option. You know where you’re headed and what would be out of your way, so you can use the map to help find the best place.

How is GasBuddy So Smart?

How does gas buddy get their prices? You! That’s right, the whole system is built on a community of self-reporters. Millions of GasBuddy users across the nation report prices everyday. How does GasBuddy keep users interested in self-reporting? They provide a bit of incentive.

GasBuddy offers points for each report you make. These points can be collected and turned in for entry into a weekly giveaway. 1,000 points gets you one entry into the weekly giveaway. Right now you can earn 150 points for reporting a price. When you sign up for an account you get an instant 100 points.

I can see how this points and prizes thing can become very addicting for someone who’s on the road all day, or who has a very long commute. Used in combination with one of the best gas rewards credit cards, you can really save some money on gas.

Are you using GasBuddy? What’s your favorite feature?

Find the Cheapest Gas In Your Zip Code is a post from: PT Money: Personal Finance by PT.
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10 Simple Steps to Cut Fuel Costs and Improve Fuel Economy

Philip Taylor — Tue, 24 May 2011 16:25:59 +0000

Don't have a smart car? Take steps to lower your fuel costs!

How are these gas prices affecting you?

With gas prices hovering around $4, and even higher in some parts of the Country, consumers are rightfully concerned about keeping their monthly gas budget in check.

People with long commutes or those who drive for a living are painfully aware of even the slightest uptick in prices. These high prices have to be killing some folks.

To be honest, it’s not been too big of a deal for me. I have an extremely short commute to work every day (either to the local library or to my desk across the bedroom). Mrs. PT does as well. She commutes down stairs.

The increase in prices is something I’ve noticed (due to the media), but not something I stay up at night worrying about. Except when we went on our trip to Destin, FL. Gas expenses were almost 50% of our costs. Crazy.

Regardless of what type of commute you have, Summer is usually a time when we all need to start paying attention to this stuff. So, if you’re in the same boat, pay attention to these simple steps to help you improve fuel economy:

1. Keep Tires Properly Inflated

This could cut your fuel cost by $65* every year. I’m assuming the flatter your tires, the more friction they create with the ground and the harder your car has to work to get going.

I mostly rely on the mechanics who change our oil to check the pressure, but more recently I’ve been checking them with the cheap little tire gauge that I have. I also recently bought a small air compressor, which I use to keep them properly inflated.

Here’s an informative post explaining how to care for your car tires.

2. Proper Motor Oil Grade

Do you know what type of oil your car uses? I couldn’t exactly spout it off from memory. Check your car’s manual to find out, because using the correct grade could cut your costs by $40 a year. Get your oil changed regularly.

3. Keep Your Car Tuned Up

Beyond tires and oil, you should strive to keep your car in good running order. This means keeping things like air filters, spark plugs, and belts and fluids in tip top shape. Before the heavy traveled summer months hit, take your car in for a tune up.

Investing $100 today could save you hundreds over the length of the summer. It certainly helps to have a trusted mechanic to rely on, but you don’t have to take it in to someone else.

Do a bit of research online and with your car’s manual to see if there are things you can do yourself.

Checking the oil and the air filter aren’t hard on most vehicles, and replacing filters is usually very easy. See if you can do it yourself.

4. Combine Your Trips and Walking

I’m bad about this. Some days I go out to work, drive home for a lunch I could have packed, and come home after work only to go right back out to run an errand.

If I’d only spend an extra 10 mins in the morning preparing a lunch and preparing for errands, not only would I save time, but I’d save gas. Those 10 mins seem like an eternity when I’m rushing out in the mornings though.

Walking is a different story. Here in the big, spread out metroplexes of Texas, you’d be crazy to try and walk or even ride a bike anywhere. Although, I’d like to be able to do this sometimes.

It’s just not feasible for me. These two changes though could cut your costs by $100 a year.

5. Shop More Online

These days you can buy just about anything you want online, and with the advent of the many free shipping sites, you can just about get everything you need without having to pay to have it shipped in. Some people even have their groceries delivered from an online service.

Not only does this save you a bit of fuel expense, it can possibly save you time running around.

6. Eliminate Speeding and Jackrabbit Stops and Starts

Slow down, dude! When I see people pass me up speeding only to be caught by the red light a few hundred yards away, I just have to laugh. We all get in a hurry sometimes, but it’s still funny to me to see people do this.

I’m certainly not immune to this type of driving, but I have mellowed out tremendously over the past few years. This is the big tip which could cut your costs by $260 a year. It might also save your life.

7. Don’t Idle for More Than a Minute

If you know you’ll be sitting idle in your car for a few minutes, turn it off. If there is a long line at the drive through, consider parking your car and walking in. Stuck at a train? Turn your car off.

Experts say it’s better to restart your car if you know you’ll be idle for more than a minute. One last tip, if you’ve been avoiding getting that zip pass for the tollway, consider the cost of idling to pay the toll at the booth.

8. Removed the Junk from Your Auto

Got some junk in the trunk? Clear it out and cut your costs by $40 a year for every 100lbs. We keep our cars pretty clear of stuff so we’re all good here. How about you?

9. Buy the Cheapest Gas

Duh! To keep fuel costs down, you should buy the cheapest fuel. But don’t let your efforts to get the cheapest send you all over town, wasting precious gas, to find the cheapest. Get smart about it.

Download the Gas Buddy app for your mobile device and you will quickly find the cheapest gas in your zip code. It can help you save as much as .10 per gallon just by going to the right gas station.

10. Consider Discounts and Cash Back

If you shop often at Kroger, like we do, consider becoming a loyalty member. Each time you buy $100 worth of groceries, you’ll qualify for .10 per gallon off your next gas purchase. Another way to save at the pump is to get cash back for using a gas rewards credit card or debit card.

Of course, as always, only use the credit card if you can pay off the balance in full each month. Interest on credit cards will defeat the purpose of using them for cash back rewards.

*Cost estimates based on a family that drives 12,500 miles in a year in a vehicle with a fuel economy of 20.1 miles per gallon.

Know any other ways to improve fuel economy? Leave ‘em in the comments below…

photo by SqueakyMarmot

10 Simple Steps to Cut Fuel Costs and Improve Fuel Economy is a post from: PT Money: Personal Finance by PT.
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The Best Things to Spend Money On: Spending that Reflects Your Values

Miranda Marquit — Thu, 12 May 2011 19:05:39 +0000

Are you spending on the things that you value?

Often, we think about spending in terms of whether or not we are getting a “good deal,” or whether we are going to use the item we are buying.

Sometimes we forget that we will feel better about different spending decisions we make based on our values.

Take a few minutes to consider your values, and whether or not your spending is in line with what’s important to you.

What Do You Value?

Honestly evaluate what you value. Do you like to help others? Do you enjoy time alone? Do you want a more secure financial future? Think about what you prefer to do with your time, whether it’s hang out at your favorite restaurant, volunteer at the local food bank, or sit in a comfy chair surrounded by your family.

There are no “right” or “wrong” answers. This exercise is supposed to help you pinpoint what is important to you so that you can determine what sort of lifestyle you want.

Think about what you like to do now, and what you would like to do in the future. Sometimes, what you are able to do now is different from what you plan to do down the road. If you want to make your dream a reality in the future, you will need to make sure that your money choices now reflect the values that will help you reach your goals, whether they are savings goals or spending goals.

Take some time to think about it, and then alter your habits to reflect your values.

Changing Your Spending Habits

Once you know what you value, it’s time to examine your spending habits. If you keep track of your spending with the help of personal finance software, this is fairly simple: All you have to do is make a report that breaks down your spending for the last couple of months.

If you don’t have personal finance software, you can look at your last few bank statements, or start a ledger to keep track for the next two months.

Look at where your money is going. Do your expenditures help you reach your goals? Does how you spend your money reflect what you value? Not too long ago, I realized that I didn’t care very much for trinkets.

What I really value are experiences. So, instead of buying things, I have decided to put more of my discretionary spending toward experiences, like eating out and travel, that I enjoy. If you value financial security for the future, it doesn’t make sense to spend money on a huge new TV if you haven’t maxed out your IRA.

Consider your financial goals, and prioritize your expenses. Change your spending habits so the things you value are taken care of first. Funding your emergency account, donating to charity, and purchasing a new board game for your family should be the things you take care of first if you value security, helping others and quality family time.

If you take care of funding your values first, then you won’t be so disappointed at the end of the month when you don’t have money for the things that aren’t as important.

Photo by johncarljohnson

The Best Things to Spend Money On: Spending that Reflects Your Values is a post from: PT Money: Personal Finance by PT.
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The Cheapskate Mom’s Guide to Clothes Shopping

Emily Guy Birken — Fri, 01 Apr 2011 19:47:41 +0000

Time for new pants?

Budgeting for family clothing purchases can be tricky. If Sis and Junior aren’t growing out of the clothes you just bought them last week, they’re wearing the new duds to do some amateur spelunking under the porch.

Or worse, they’re insisting that the icky old off-brand sweater isn’t good enough because they must have a Hollister sweater. Never fear, just follow these tips to dress your kids well without taking out a second mortgage:

Clothing Swaps

This is a fun update to the age-old practice of hand-me-downs. To organize a clothing swap party, invite families with children of various ages to bring gently used clothing to trade. Everyone will go home with new pieces to add to their wardrobes, and any unwanted items can be donated.

This can also be a fun way for Mom to update her look if you’d like to do a swap just for women’s clothing. Clothesswap.meetup.com can help you find an existing group of clothing swappers near you.

Buy Secondhand

We all know that it’s possible to find great clothes for tiny prices at thrift stores and consignment shops. If you’re looking for particular name brands, however, it’s important to know which bargain shops to go to.

The consignment and thrift stores in the most affluent areas of town will often have barely worn or brand new name brand clothing only a season “behind.” If your child is a budding fashionista, this is an excellent way to show her dressing well does not necessarily mean spending a fortune. The best online place for secondhand clothes is eBay.

Buy Big

We all remember the clothing that we were supposed to “grow” into. While some clothes, like smock style dresses, two-piece pajamas, tube socks, and lace-up or Velcro shoes, lend themselves to growing, others just make your child look like he’s playing dress up in Daddy’s clothes. The solution? Learn your way around a sewing machine.

Hemming durable pants and skirts with a hem that can be let down will buy you multiple seasons from a single item. And while you’ve got the sewing materials out, reinforce the knees and elbows of play clothes with patches ironed on the inside.

Even if you’ve got two left thumbs when it comes to sewing, the tutorials on youtube can get you started.

Shop Clearance Racks

At the end of the season, you can pick up clothes for bargain prices. You just need to plan ahead in terms of how big your child will be once that season comes around again.

And you might not even have to do that. Spring and fall clothing can often be worn year-round, as long as you don’t mind pastels or football themes on the clothes.

Invest in Unisex Clothing

If you have multiple children, it’s a good idea to keep your clothing purchases simple, easy to care for, and unisex. That way you can pass clothing down from one child to the next without anyone objecting to aggressive pink frills or super masculine camouflage.

Use the Clothing Budget as a Teachable Moment

It can be difficult for a child to understand why she can’t have the name brand clothes her friends and classmates wear. So use budgeting as a means to help her understand.

Let her know that she may spend the budgeted money where she wants, but when it’s gone, it’s gone. So if she uses the entire $50 budget on one pair of jeans, that will be an important lesson for her about the cost of name brands.

Photo by sean dreilinger

The Cheapskate Mom’s Guide to Clothes Shopping is a post from: PT Money: Personal Finance by PT.
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Festival of Frugality: Cheapest Man Alive Edition

Philip Taylor — Tue, 04 Jan 2011 10:30:46 +0000

It’s time once again for the Festival of Frugality, a place where all good articles discussing the frugal life come together to party. I thought I would dedicate this festival to the newly crowned cheapest man alive, Edward Wedbush, founder and president of Wedbush, Inc. He’s worth over $100 million!

Welcome to the Festival of Frugality!

Edward has been making the news recently. Not for his business successes, but for his extreme frugality. It’s the classic example of frugality turned cheapness. The roof of one of his homes in L.A. has been in need of repair for quite some time. His neighbors have had enough of his run down roof, which he has been covering with several blue tarps (ideal for local real estate prices). They complained to the City who is subsequently suing him. The water damage from the roof has created a mold problem in the house and Edward’s health has “suffered”.

The 78 year old Wedbush was deemed one of the most admired CEOs by the L.A. Times. It was once said of him that although he doesn’t have a lavish lifestyle, he could afford it. He “brings his lunch from home and drives a 1992 Lincoln Town Car.” I like Edward up until the point he’s letting his cheapness get the best of them. What do you think?

Now let’s head of to the festival to see what the past two weeks of frugality writings has produced (my favorites are in bold):

Christmas and Holiday Leftovers

Think Your Way to Wealth presents 5 Ways to Deal with Unwanted Christmas Gifts. Wondering what to do with that ugly sweater your aunt got you? Check out these tips. I’m thinking craigslist would probably be a good solution. The trick is how do you clue them in next year not to get you anything. Or better yet, give you a gift card. Does that make me a bit of a scrooge?

Frugal For Life presents A 2 in 1 New Year’s Resolution. Money and health: a match made in heaven. If you’re going to try and tackle one this year, it’s not a stretch to take on the other while you are at it. What are your new year’s resolutions?

Personal Finance By The Book presents Rethinking Our Family Christmas Gift Exchange. I prefer the secret Santa or the gifts for the kids only route. We did the later for one side of our family this year and it worked out great. It ended up still being a boat load of gifts and the adults got to enjoy the smiles on the kids faces.

The Sun’s Financial Diary presents Great Gifts without Great Costs. Take note of this one for next year. But really these are some very unique ideas for any time of the year.

Networth Journey presents What Does That Gift Really Cost. This is a great breakdown of the rules involved with the gift tax. Did you know there is a tax on the money you give to another person? Kinda stinks doesn’t it? Don’t worry, several thousand dollars are exempt from the tax. My question is how do they enforce this?

Debt Kid presents 10 Ways to Make New Years Resolutions Stick. “It’s not the taking that counts, it’s the holding.” Anyone can make resolutions. But can you stick with them? These tips are sure to help you out.

Sweating The Big Stuff presents Why You Should Donate More Money to Charity. Don’t wait till your filthy rich, make donating a part of your financial plan. If money isn’t an option, give your time.

Go Banking Rates presents Top 12 Money Mistakes You Make During Christmas. Christmas is a time to celebrate. It’s also a time of great financial stress for some people. Don’t get tripped up. Avoid these mistakes.

Planting Dollars presents All I Want for Christmas is Stocks!. Kind of selfish, don’t you think? Actually, no. I love it. I’ll take some stock too, please.

Frugal Home and Family

Wise Bread presents 7 Ways to Get Warm on the Cheap. Time to bundle up with more clothes, I know that’s step one. Read this post to find out more ways to pay less this Winter.

Northern Cheapskate presents Hosting a Gathering on a Budget. I rarely have someone over to spend money on. But if you do this kind of thing often, there’s no sense in spending money that you don’t have to. Party for less.

MoneyNing presents OMG Kids Are So Expensive!. If you go by the stats, they are. I’ve found our little one to be pretty economical though. She’s already practicing her parents frugal ways.

Funny about Money presents God’s Free Carwash. Here’s a really frugal idea. Click though to see how this free car wash takes place. I bet the cheapest man alive washes his 92 Lincoln by himself.

Sea Of Savings presents Make your own Carpet Deodorizer. Clean, green, and frugal. Smells like a good idea.

Live Real, Now presents 3 Things You Need to Know About Homeowner’s Insurance. Get the facts about home owners insurance. Including what to do about flood insurance.

Money Help For Christians presents Home Improvement and Repairs. Feeling like doing it yourself? Good, here are some ways it might save you some money.

Dewey’s Treehouse presents Use-What-You-Have Doll Wardrobe. Make your dolls original. Give them their own homemade cloths. See what’s new in doll fashion.

Free From Broke presents The Greatest Impact On My Finances And My Best Financial Tool. How many points do you think FFB scored with this post? Good work, my friend. No seriously, it’s great to have a mate that is on board with improving the finances. It’s always good to celebrate (aka encourage) that behavior. They’re called our better halves for a reason.

Provident Planning presents Is Renting Throwing Away Money? Personal finance is personal. Do your own analysis and determine which type of real estate decision is best for you. Think renting is just wasting money?

Frugal Shopping

Spruce Up Your Finances presents Why I Buy Tires At Costco. A well laid out case for buying your tires at this discount warehouse. The best part is that you get to actually do something while you are waiting on tire repairs.

Personal Cents presents Saving Money at the Grocery Store. One of the biggest expenses in the monthly budget is often food. When you can maximize savings in this area you’ll be saving a lot. Includes some unique ideas.

Wisdom From Wenchypoo’s Mental Wastebasket presents An Example of How Futile Savings Efforts Are Using Coupons vs. Cost Per Unit. If buying bulk makes sense for the item you are buying, then by all means go for it. Bulk will usually beat coupons for smaller items. Check out this post for more on the real-life analysis.

My Wealth Builder presents Athletic Shoe Usage Cycle. A good technique for getting the most from your old running shoes. I make the mistake of wearing my running shoes too much around town. Not good if I wanted to keep them in top shape for running longer.

Christian Personal Finance presents Netflix for Books?. Would you ever rent books through the mail, like you do with movies and Netflix? Check out this post to see the cost of such a service.