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Make Sense of Your Money: 3/13/09
Finance at a glance brought to you by Geezeo
Shift Your Habit – And Save Money, Too!
by Katie McCaskey
“In this time we are all in the same position, looking at ways to be efficient with our money.”
ShiftYourHabit.com founder Elizabeth Rogers pointed out how the simplest changes can be a cost effective advantage. For example look at the difference of a refillable water bottle versus a plastic:
Refillable water bottle:
Total Cost after Five Years = $25
Total Waste Generated after Five Years = 0 pounds
Disposable plastic water bottle
Total Cost after Five Years = $1,825
Total Waste Generated after Five Years = 125 pounds
Five-year savings by switching from disposable water bottles to a refillable one: $1,800 and 125 pounds of plastic.
“The thing I want people to take home from this example, is that going green isn’t just for rich people and hippies,” Elizabeth emphasized. “And if often doesn’t cost money.”
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Beans, Your Food Budget’s Best Friend
by Allison Fishman
Why? They come cheap. A one-pound bag can cost about 40 cents and a single serving costs about six cents,” Mainstreet.com writer Allison Fisher points out. ”At the same time, one serving combined with rice or grain provides a perfect amount of protein and all the amino acids required to sustain life.”
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How to Be the Family CFO: 4 Simple Steps
by Katie McCaskey
Book author Kim Snider urges people to consider an alternative to the “asset accumulation” model. This common model assumes that what you invest in today (stocks, homes, etc.) will increase in value. Eventually, says this logic, you can sell your investments for retirement income.
Her key suggestions on making this happen:
Step 1: Be the Family CFO
Step 2: Plan Prudently
Step 3: Save Prodigiously
Step 4: Invest Wisely
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Stimulus Plan: What’s In It For Me?
by Galia Gichon
Are you getting unemployment? If so, one of the oxymorons of receiving unemployment is that you have to pay taxes on that money. With the stimulus plan, the first $2,900 received is now tax free.
Better health coverage. If this works, it is huge. I have personally seen many people using COBRA as their health insurance. The benefits are great but it is expensive! If you were laid off between 9/1/08 and 12/31/09, your monthly COBRA premium can be as low as $130 a month. That can save hundreds of dollars a month! You must meet income qualifications.
Paying for college. The HOPE credit, which was already in place, offered a credit of $1,800 and it has increased to $2,500 if you are currently paying for college.
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Want to make more sense of your money? Check out Geezeo.com.
photo credit: Morgue File
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Reader Comments
Thanks for including some of Geezeo’s financial tips. By taking control of your family finances you assure that you’re able to maximize the family resources for their best and highest use.
It can be intimidating, but it doesn’t have to be difficult.
Common sense and a commitment to specific goals is what’s required. So ask yourself, what financial goals would I like to achieve with and for my family?