spending

Holiday shopping in the time of COVID.

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(Surviving and Thriving has partnered with CardRatings for our coverage of credit card products. Surviving and Thriving and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses and recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.)

Some 71 percent of U.S. residents plan to go online for most of their holiday shopping this year, according to a new survey from CreditCards.com. Will you be one of them?

I sort of hope not.

Local stores have already been hammered by the novel coronavirus. Some are barely hanging on. If there’s another stimulus check – and even if there isn’t – I plan to do much of my shopping here in town.

Note that I said “much.” A bunch of my gifts won’t actually be physical gifts, but rather gift cards that I get from rewards programs like Swagbucks and MyPoints or from my rewards credit cards.

But I’ll also be visiting some local shops with beautiful and/or practical gifts.

Sure, I could go online for pop-culture items for my nephew and niece, or cash in some of those rewards points for chain pet stores. But I’d much rather head over to Bosco’s or the Anchorage PetZoo and leave my dollars here in town.

 

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Monday miscellany: Pandemic hangout edition.

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Note: Surviving and Thriving is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.

The “miscellany” idea is one that I’d like to make a weekly (or at least relatively frequent!) feature on the site. It will be a mix of news, events and whatever crosses my desk.

This week I’ll start with what’s happening today: a free virtual hangout designed for mothers during the pandemic.

“Monday Mom” is a way for mothers to share resources, chat and, yeah, vent to other moms who Get It. It takes place at 5 p.m. PDT/8 p.m. EDT.

Monday Mom is staged by the LOLA Retreat, an annual conference that’s the brainchild of personal finance author Melanie Lockert (“Dear Debt: A Story About Breaking Up With Debt”). Lockert has two other events this week as well:

“Managing Debt During COVID” is just what it sounds like: tips and tactics to help you survive financially during the pandemic, with financial law attorney and money maven Leslie Tayne. She’s the author of “Life and Debt: A Fresh Approach to Achieving Financial Wellness.” The program takes place Tuesday at noon PDT/3 p.m. EDT.

Finally, the “LOLA Retreat Hangout” is a place to connect with other women and talk about personal finance. The topic of money is too often taboo and as a result people miss opportunities and/or make choices (or don’t make choices) that wind up affecting their entire lives.

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What to do with “extra” money.

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Recently I interviewed personal finance blogger Jordanne Wells and something she said really struck me:

“If you know having money in your pocket will make you feel like you want to spend, then don’t have money in your pocket.” 

Wells didn’t mean using cash vs. credit/debit, or walking around without any money/plastic. She was referring to having “extra” money, as in spending less than you thought you would.

For example, maybe you budgeted $100 for groceries but the total was only $80 thanks to wise coupon use and some really good sales.

What to do with that $20?

“Put it toward something right now,” Wells says.

As in, right now. Don’t wait for the monthly credit card statement, or hesitate to move those bucks into your emergency fund. Do it nownownow.

“All of those payments just help to get you in that habit of ‘When I have money, I do something (positive) with it’,” the writer says.

She’s no ivory-tower theorist. Her lessons came the hard way. When Wells came to the U.S. from Jamaica to attend college she had zero information on how to handle money. Credit cards were a revelation: “I can charge $50 and I only have to pay $10? Awesome!” What with school expenses and then “work-appropriate” clothing, Wells amassed debt that she couldn’t pay in full – and that grew to $30,000 by her early 30s.

Needing to buy a vehicle after a car wreck, she learned that she had “awful” credit; the best car loan she could get was at 11 percent interest. So she set out to improve her financial life via what she calls the “Debt S.L.A.Y.E.R” method. Wells also wrote an e-book called “How to Build Credit and Raise Your Credit: Everything You Need to Know to Understand, Build and Maintain Excellent Credit.”

 

 

Right now a lot of folks would love to be in the position of having “extra” money. Plenty of people would have liked that opportunity pre-pandemic, too. If you’re living from paycheck to paycheck, or even just on very thin margins, the notion of surplus money cluttering up the checking account is something of a pipe dream.

Or maybe it isn’t.

 

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Poor, poor (but not pitiful) me.

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(Happy Throwback Thursday! This piece originally ran on July 21, 2015. Right now seemed like a good time to remind ourselves that a lot of the things we think are necessities really aren’t.)

The response to my early-June reboot of “Surviving (and thriving) on $12,000 a year” was humbling. It was great to see reader comments about the impact this piece had on their lives.

When the post originally ran (January 2007) it got more response than anything else MSN Money published that year. The editor immediately said, “Write another one.” So I did.

The headline I chose was the one you see above; it got changed to “Living ‘poor’ and loving it.” (I refrain from comment.)

I’ve decided to re-boot the second piece as well, again in its original format vs. the MSN-edited version. Once again, asterisks indicate that updates can be found at the end.

Comedian Dick Gregory grew hungry and cold in an impoverished home. Yet his mother always assured the kids, “We ain’t poor, we’re just broke.”

 

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Don’t throw it out until you’ve smelled it.

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(Happy Thanksgiving, and Happy Throwback Thursday! In honor of all the food that will be prepared — and perhaps wasted — over the next few days, I’m republishing this piece from May 12, 2012. It’s my hope that a little judicious leftover prep and/or freezing will cut down on waste.)

I didn’t get to the supermarket for a few days after my arrival in Anchorage. Until then, I used the milk and oatmeal my hostess already had. When I mentioned that I’d be replacing what I used, she looked surprised.

“Uh, that’s really old milk. I meant to warn you off it,” she said.

It had tasted fine to me. That is to say, it tasted about as good as nonfat milk ever tastes – like the water they used to wash a cow. All that mattered to me is that it loosened up the oats in the bowl.

I nearly changed my tune when I checked the “sell by” date: April 5. It was then May 6. I was drinking milk a month past its prime.

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The REAL way to save on Black Friday.

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Having a gift closet is a great frugal hack, as it saves you money all year long. A stash of “evergreen” presents means you’re ready for any occasion.

(Especially those that sound like this: “Hey, I forgot to tell you, I’m invited to Jack’s birthday party on Saturday.”)

If you pick your spots, the first few shopping days of the holiday season are a great way to put some oomph into your gift closet. They’re also a good chance to hit some specific gift milestones, and maybe even to get something your own household needs (or wants).

Gifts for people who are pregnant, getting married, and or heading off to/graduating from college abound in sales flyers for Black Friday et al. Maybe it’s time to check a few gifts off your own upcoming events?

You’ll see towels, sheets, blankets and the like starting at just a few bucks. Last year, I spent just $5.99 for a luxuriously warm blanket in a rich mulberry color. It’s on our bed, and between it and the comforter we’ve been a little too warm lately.

Then again, poking an arm or leg out of a cozy bed is one of the great joys of a winter night. In “Dandelion Wine,” Ray Bradbury described it thusly:

“…sticking your feet out of the hot covers in wintertime to let the cold wind from the open window blow on them suddenly and you let them stay out a long time until you pull them back in under the covers again to feel them, like packed snow.”

Someone who’s setting up a first apartment might really appreciate something like that, especially if you could afford to pair it with a set of sheets. Maybe a half-dozen bath towels and washcloths would be a big help for that new apartment-dweller.

Small appliances like coffeemakers, electric fry pans and slow cookers are typical loss leaders. The Kohl’s flyer I got in the mail offers these for $2.14 after coupon and rebate.

Why didn’t they save that price for Valentine’s Day, I wonder? Maybe it’s because none of these are romantic enough. But they’d be a big help for someone setting up housekeeping – and that includes getting married.

 

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Extreme Frugality: Holiday shopping edition.

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Surviving and Thriving has partnered with CardRatings for our coverage of credit card products. Surviving and Thriving and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses and recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

(This is the first in an occasional series of articles focusing on saving serious dough. A little background can be read here.)

Black Friday? How about Black November?

Not long ago, Black Friday – the day after Thanksgiving – was considered the kick-off for the holiday shopping season. The timetable has been moved up, though.

This year, some retailers offered “Black Friday in April” or “Black Friday in July” deals, and recently the National Retail Federation reported a phenomenon called “Black November” – big deals offered on Nov. 1, with more to come before Nov. 29.

Some of the busiest shopping days of the year, however, are the days between Thanksgiving and Cyber Monday. In 2018, an estimated 165 consumers spent an average of just over $313 during that five-day period.

“People plan their attack, and where they’re going to go. It’s a sport,” says shopping expert Trae Bodge, a senior editor at Retail Me Not.

 

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Extreme frugality: An occasional series.

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During the last recession, people went to surprising lengths to make ends meet. Hypermiling. Navy showers. Dumpster-diving for food (aka “freeganism”).

Some practiced extreme frugality to keep from sinking further into the red; others did it to survive. (Some still do.)

Hailed at the time as examples of savvy consumerism, these sorts of activities don’t get a whole lot of press today. Some would say that’s a good thing, i.e., fewer people are living on the edge.

I’m not so sure.

While I’m glad the recession is technically* over, I remain sad that we seem to have learned nothing from the tough times of previous decades. There’s more things than ever to buy, especially as regards electronics – and quite a few us want these things at all costs.

In fact, a new survey from CreditCards.com suggest that 61 percent of people with credit card balances are willing to add more debt for the holidays.

Don’t get me wrong. I’m really glad I no longer have to wash all my clothes by hand, or live on the most basic of foodstuffs. But I think we could all do with a little bit more strategic frugality.

Some people think “frugal” means “impoverished,” and certainly it’s true that some people live frugally because they have no choice. It’s a way of life that can be terrifying. (Anyone else here ever raided the baby’s piggy bank** for bus fare to get to work on payday?)

In those days, and again during my lengthy divorce and return to college, I was frugal because I had to be. But even when times got better, I was still frugal – because I happen to think it’s a great way to live. To me, it means a life in which every decision is intentional. Every step I take (or don’t take) means something.

 

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How to get free stuff at the dollar store.

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Editor’s note: Some readers ask me to post periodic “read me elsewhere” updates. It’s been a while (errr, three months) so here is some of the stuff* you missed.

What’s better than finding name-brand stuff at the dollar store? Not having to pay for it, that’s what. In an article for Money Talks News called “The secret to getting dollar store items for free,” I show how shopping/coupon bloggers do the legwork for you.

Specifically, they match virtual coupons – plus any available rebates – to items found at Dollar Tree, Family Dollar and Dollar General. While the lineup varies from week to week, you can expect to find free stuff regularly (and almost-free stuff, too).

Some recent examples of completely free items: Excedrin, Purina Dentalife dog treats, Atkins frozen entrees, a three-bar pack of Zest soap, Airborne products, 3M Command Hooks, Splenda sweetener, Bounce or Downy dryer sheets, Keebler crackers, Theraflu, Advil PM, Super Pretzel Bites, Breathe Right strips, CeraVe diaper rash cream, Bic razors, Texas Pete hot sauce, Seeds of Change sauces, Suave Kids hair care products, A&D Ointment, Sucrets, Alka Seltzer Allergy, and Frigo string or shredded cheese.

The bloggers also spell out any rebate deals. Sites like Ibotta, SavingStar and Checkout 51 offer cash back on an ever-changing list of products. With coupons plus rebates you might even earn money on certain purchases.

Dollar store coupon policies vary, of course. For example, Dollar Tree lets you use a coupon with a face value of more than $1, but it will not return the difference to you in change. Family Dollar, on the other hand, will not accept a coupon with a face value greater than the price of the item. Know your store’s policies before you shop.

It’s unlikely you could take care of all your household’s needs this way. Your mileage may vary in other ways, too. Some dollar stores are smallish. Some don’t have frozen or refrigerated items. And if you live in Alaska, you don’t have personal access to dollar stores at all.

In other Money Talks News (see what I did there?):

 

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To (bleep) with the (bleeping) latte factor.

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The “latte factor” – the notion that if you don’t spend five bucks on coffee every workday you’ll have a million dollars 40 years from now – has gotten on my nerves since the moment I first heard it.

The basic idea is kinda-sorta accurate: If you spend $5 here and $5 there without paying attention, that’s a whole lotta opportunity cost. Think of what that whatever-it-is-per-week could do for you elsewhere.

So yes, that’s factual. But it’s also fictitious, as personal finance writer Jean Chatzky pointed out in a taut, blistering article called “Newsflash: The f***ing latte is a f***ing metaphor.”

“(Coffee) is just an example of something you don’t have to buy, but that you choose to buy. It’s a discretionary purchase that you make with your discretionary income,” Chatzky wrote.

“The real point here – the one I tell parents is the most important financial lesson to instill in their kids – is that money is a limited resource. And we all have to choose how we want to use it.” [emphasis added]

Hear, hear, Ms. Chatzky, and may I buy you a Grande misto an inch of 2% milk and two Sweet’n Lows at the Financial Blogger Conference next month?

 

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