Money and Finance

10 Holiday Entertaining Ideas That Won’t Flatten Your Wallet

Jill Brooke — Wed, 19 Nov 2008 08:56:24 -0500

‘Tis the time to think about entertaining. As a divorced woman, inviting people over to your house expands your social circle — but not necessarily your waistline — and has the added bonus of being cheaper than going out. If friends invite you out to dinner, you have to reciprocate, and entertaining from your home is often 1/5 the cost of a restaurant.

Plus, you want to create happy memories in your home for your children, and just because the Ex isn’t there doesn’t mean you can’t create — and maintain — cherished traditions.

Having been an editor in chief of several magazines, I have learned quite a few tricks for entertaining on a budget. Here are some that may appeal to you.

1. Lights in winter. People may remember the ambiance more than the food. You can make Santa Fe candles (and the kids can help) to line the sidewalk: a small brown paper bag, some sand for the bottom, and a candle set inside. Roll down the top of the bag, light the candles and there you have an inexpensive and charming way of decorating outdoors. As for inside, try paper globes hung from an archway, lighted with fairy lights, or invest in some nice fat candles. Buy them in bulk online (a four-inch-tall pillar is as little as $2.99 at www.candles.com) or try Pier One or Ikea. Use the candles all over the house. Et voila! It’s romantic, cheery, and will make the house beautiful. But avoid scented candles, which could be suffocating.

2. Decorate with fruit. Fill a bowl with polished apples. I have also used one large red bowl and two smaller ones filled with green apples as a holiday centerpiece. Apples can hold place cards for a sit down dinner. And then, after the party, the apples can become apple crisps or apple pies. Oranges studded with cloves are another holiday classic.

Mothers Are Tightening Their Purse Strings

Jill Brooke — Fri, 14 Nov 2008 11:14:16 -0500

Leave it to Moms to give researchers a spoonful of reality. A poll of online mothers conducted by Allen & Gerritsen on the economic challenges facing the US found that 80 percent thought Americans had been encouraged by the culture to overextend themselves and that 58 percent believed the average American is too greedy.

The researchers recognized that moms “teach and enforce family values” – and manage family pocketbooks – and believe that these findings may predict more saving and less spending. That seems confirmed by figures for retail sales for October, released this morning, which showed a 2.8 percent decline from the previous month. That’s the biggest drop the Commerce Department has recorded since measures began in 1993.

Maybe that isn’t so good for Coach and Gucci but it certainly will be for the culture at large. And this way Mom won’t have to ask Junior to support her down the road.

A&G surveyed moms to get a pulse on how the economy will affect their purchasing behavior. The report didn't make distinctions between divorced or married moms but I would bet the single moms have already been on a fiscal diet for some time and are quite good at it.

According to the report, 65 percent of the mothers said they were eliminating purchases that are not absolutely necessary, and 52 percent were cutting back in general. Some 71 percent say they have made more sacrifices this year than last. Only 49 percent say that the economic situation may improve within the next year, but perhaps President Obama can alter that view.

6 Tips for Weathering the Current Economic Climate

Jill Brooke — Wed, 12 Nov 2008 15:42:34 -0500

There's no sugarcoating that these economic times are tough and are creating the need to be resourceful with the money we have. That’s why we want to be your source for reSOURCEful spending.

Our FWW financial experts know how to stretch a dollar like salt water taffy and how to devise money-saving tips that won't leave a saccharine aftertaste in your wallet. The sweet life can still exist, as long as you’re smart and nimble with insurance, stocks, cars, your work, your home and your life.

Below we have gathered the best "nougats" from our experts. They provide nudges, hints, and suggestions for actions you can take to put the power back into your hands — where it belongs. And it's written in ways that anyone can understand. While it’s not a cure-all, it may be the needed spoonful of sugar in the castor oil of recession.

1. Save Money Wisely. Yes, we know it’s easier said than done. But with a little creativity, you can trim your budget with a scalpel, not a hatchet. First, try out 10 Painless Financial Slimmers to cut out your financial fat with very little pain and lots of gain. Next, spend a weekend Winterizing Your Home — we promise it works, whether you’re in Walla Walla or Williamsburg. Last but not least, Turn Off Your Financial Leaks — you know, the little things like ATM fees, insurance deductibles, and hidden airline costs. If you know the right tips, you can make like Moses and stop the flow before your pocketbook is drained.

How to Buy a Used Car

Linda Lee — Thu, 06 Nov 2008 09:04:00 -0500

If you see an appealing ad on Craig’s List, or in the newspaper, or online, the first thing you should do is check the year, make and style of the car on www.kellybluebook.com. Kelly will immediately (for free) give you a range of prices, from a car in poor condition to one in excellent condition, for your specific area.

If the price seems reasonable, and if you are seriously interested it’s time to go see the car in person and do a walk around. That is, walk all the way around, and look down the length of the car. It’s best to do this in bright light, during the day. Are there ripples in the paint? If so, it may have been in an accident. Are there different color paints on the door and the frame or uneven gaps around the hood, doors, and trunk? Those too are signs it has had body work after an accident. Check inside the trunk: is the body color overlapping any rubber or plastic? Then it’s been repainted, and — say it with me now — you know it’s been in an accident.

Why shouldn’t you get a car that’s been in an accident? No. 1, airbags (see Part 1), and No. 2, the possibility of a bent frame, or serious cracks that can’t be repaired.

A Test Sit

Now, sit in the driver’s seat. Is it worn? Does it sag? Does it adjust to a height and angle that you find comfortable? Can you see easily over your left and right shoulders? If the car doesn’t feel right for you, it’s not right for you. Check the back seats too, if that's where family will be sitting. Can they see out? Can they have a conversation with someone in the front seat? Are the seatbelts readily accessible?

What You Can Check Yourself

Glutton for Punishment: Is a Second Marriage in My Future?

Faith Eggers — Thu, 06 Nov 2008 06:00:50 -0500

"Sometimes I fantasize about getting married again," I said to my friend Rachel. We both looked at each other stunned — even I couldn't believe the words that had just come out of my mouth.

"But," I continued, "I don't really see the point."

Both statements are true.

There is a part of me that dreams of sharing that bond with someone again. This is the more emotional part. But the other part — the more cynical part — says, why even bother?

Consider the cost of marriage (which can really be anywhere from fifty bucks to fifty thousand bucks — and even more if you're totally insane), factor in the sky-high rate of divorce, then throw in the cost of getting a divorce. Truthfully, marriage can seem like nothing but a bad investment. And that does even cover the emotional energy that you'll spend, the heartbreak that you'll endure, or the cost of your therapist.

It's 2008, and the rules have changed. People live together for years without being married — something that once upon a time was frowned upon. Now, single women give birth to babies every day. Quite simply, times have changed and sometimes it seems that marriage is becoming more and more outdated.

But then why does that other piece of me yearn for it?

What is it about marriage that despite the obvious pain in the ass that it can be, that keeps up coming back for more?

Post-Divorce Jewelry: A Follow-Up

Alice Brooks — Wed, 05 Nov 2008 01:20:59 -0500

There's nothing like posting your procrastination on a blog to give you that needed nudge. Today, I sold what I referred to recenly as my post-divorce jewelry — the gifts that Jake gave me over the course of our marriage.

The thing about the Internet, it really leaves us no excuses. There's no use pleading, "But I don't know where to go!" Logging on to yelp.com makes it difficult to get away with that kind of thing.

I dumped my wares before the jeweler: a necklace, earrings, and anklet set in amethyst and gold. The giant gold pendant that won the My Husband Gives Me Uglier Gifts Than Your Husband contests for years. A dozen pearls I never got around to stringing. And my wedding ring.

Much of it the jeweler didn't want. Pearls, he said, he's seeing "by the buckets." No one wants pearls these days, he said. The amethyst set he didn't want either, but gave me the card of a place that might. The pendant he took. And the ring he took.

I hadn't initially thought to bring the wedding ring. All that other jewelry, I never wore. I had never liked any of it. I kept it all in a box and never thought about it. Strangely, I had never thrown the ring into that box. I grabbed it last minute, an afterthought, as I left the apartment.

Seeing it there on the counter, waiting to be weighed — it was a strange feeling. As the jeweler and I filled out the surprising amount of paperwork involved in the transition, it just sat there, looking at me. And I had a pang. I'm not sure why. I've hardly looked at it since the day I put it away. That whole last year, I found excuses not to wear it. I'd been glad to take it off permanently.

What to Know Before Buying a Used Car

Linda Lee — Mon, 03 Nov 2008 12:26:08 -0500

When I split with my husband, I left him the Volvo, the apartment, the wall-to-wall carpeting, and the TV. That’s how badly I wanted out. Then I bought myself a used car, a junker with a gaping hole where the radio should have been. The glove box wouldn’t stay closed. The car sometimes stopped for no reason. Belts snapped, tires blew, engine heads were blown.

So I speak from experience when I tell you there are right ways and wrong ways for divorced women to buy a used car. Obviously if you and your husband have divided the six vintage cars in the garage, this doesn’t apply to you. But if you and he had one car, and he keeps it, and you need one... and if your credit is pretty much like everyone else’s, and if banks and car dealers are not making car loans... you may find yourself as a free agent, trying to pay cash for a car that will run, won’t break down, and especially won’t kill you.

For argument sake, I’ve chosen a budget of $5,000 to $6,000. At that price you are not likely to find a lot of cars at dealers showrooms (if you can find a dealer’s showroom, since they are all closing.)

Did I say “kill you” back there? Here’s a little known fact: some used cars have been in accidents where airbags have been deployed. And because airbags cost $1,000 or $2,000 or more to replace, sometimes the garage, sometimes the owner, just don’t replace them.

Then the car is put up for sale, “as is.”

So you may buy a car that is equipped with airbags — but instead of functioning airbags there are plastic packing peanuts, or Styrofoam cups, or a used airbag. Based on information from the National Highway Traffic Safety Administration, www.carbuyingtips.com, a friend who has worked at a dealership (he calls it a “stealership”) and a source who has bought and sold many cars, here is the FWW guide to buying a used car.

The D-Word: Just A Break-Up? & Speaking Of Rings…

The D Word — Sun, 02 Nov 2008 23:06:18 -0500

This week’s “D-Word” is a special double feature! First, the ladies delve into the nature of divorce itself. Is it just a break-up with paperwork, or does the very word “divorce” imply something much more significant? And, next, what does one do with the wedding ring once a divorce is finalized? The answers just might surprise you…

Click the following for a further community discussion on the social network titled, "What Did You Do With Your Rings?"

Click the following to see all of the D-Word episodes

10 Painless Financial Slimmers

Jill Brooke — Tue, 28 Oct 2008 15:28:08 -0400

The same reason I hate the word “diet” is why I am repelled by the word “budget.” Makes me feel like I’m starving and undernourished. However, as someone who now is being forced to trim costs in this economy, I have found some painless solutions to increase your cash and save you sleepless nights.

Plus, they’re so easy that, once you accomplish them, you will feel virtuous and safe.

1. According to the Department of Labor, the average American family of four will spend $8,513 on groceries per year. But prices have soared — milk is now twice as expensive as last year — at a time when we need them to be reduced. Making bigger shopping trips less often, however, will slash what you spend and reduce waste. Most of us go to the market at least three or four times a week and according to the Marketing Science Institute, buy 54 percent more than planned. Make a list and stick to it. The average impulse buy is $10 - $40 a week. You could be saving as much as $160 a month.

2. When at the grocery store buy generic. It saves you a fortune — as much as ten cents to a $1 on each item ranging from cereals, canned tomatoes to club sodas. You can also have similar savings on items at the pharmacy ranging from aspirin to mouthwash. Another money slimmer is buying in bulk at places like Costco once a month. This is where I have loaded up on items like detergent, paper towels and dog food. But as divorced moms, if you are also doing triple duty as soccer mom, career mom and gymnastics mom, another solution is using the delivery services like Stop n’ Shop. They charge a little extra for delivery but drop off all the bulk items so you save time and costs of transportation and lugging all the groceries to your house. As long as you buy a huge amount at one time — and they do have good savings there — it is truly worth it.

Heather Mills Blows Through Settlement

Maureen Dempsey — Mon, 27 Oct 2008 13:53:14 -0400

Take this as a lesson in how not to manage your money (should you ever acquire millions)...According to The Denver Post, Heather Mills has spent roughly one-third of her divorce settlement from Paul McCartney. Yes, one-third of the $48 million she was awarded in March.

Granted some of this covered a $300,000 public relations bill and a hefty lawyer tab, a New York City apartment, and renovations on her Sussex, England, home. Additional funds covered her pledge of $6 million to charitable organizations. Throw in a few vacations, a lavish divorce party, and a $1 million staff bill, and...hey, where'd all that money go?