The economic stimulus checks are trickling in ahead of schedule. I can’t wait to get mine. Many retailers are offering deals for customers who turn over the check. Wal Mart is cashing the checks for free. There will be no retail excursions on my check, no matter how "gracious" the offer. I know businesses are hurting from the slow economy but personal finance matters the most. I say pay off debts or save. I went to the mall last Saturday and noticed a $15 sweater from the week before was now $40. I think some of these stores are jacking up prices in anticipation of the mini-windfalls. Meh.
Here is the new timeline for when most of us will get the loot.
Will you do any retail therapy with the government check? What do you think about the retailers and their stimulus check marketing? Is it a savvy business practice or are they preying on the little person?
Baskin Robbins is having a $.31 night. It’s $.31 for a scoop of ice cream from 5 to 10 p.m., Wednesday. Proceeds are supposed to benefit the National Fallen Firefighters Foundation. I’m not a big ice cream person. It makes my teeth cold. If you’re interested, here’s the link.
What restaurant do you wish would have a cheapie special? Or, if you know of any that are having a great deal, let me know and I’ll post it!
On NPR, I got a call from a guy who said he cooks at home but is gaining weight. I also know a lot of people who say that eating healthy is more expensive. Take a browse around Whole Foods or The Fresh Market and you may not see the same prices as say, oh, a big box grocery store. I keep running across articles like this one, which roasts the food press for pushing extravagant recipes. Personally, my meals are rather basic: meat, grain and a vegetable. Dishes sound great but would take a lot of grocery time and I’m a babe in cooking. I’m not breaking the bank for an exotic dish I may hate. But, cry not for me. My paper has a story today about seniors struggling to pay for food with the rising costs.
I found this article on the personal finance blog Get Rich Slowly on how to eat healthy for less.
Among the tips:
Drink water, not soda
Eat fruits and vegetables
Prepare vegetarian stir fry
Do you think it’s possible to eat affordable food that’s also healthy? What are your favorite healthy recipes that are budget minded? Do you think that organic food is worth the extra dollars? Calling all frugal foodies!
Fortune magazine wrote about a luxury recession. Luxury hotel and yacht sales are down for some companies. Studios are offering group pilates classes which are more affordable than private sessions. It seems that there is a frugal elite out there. I know The Financial Times mentioned how Martha Stewart’s followers are asking for cheaper ingredients in her recipies.
I know some of my splurges may seem like luxuries, but I’m not quite to the point where I’m pondering whether to buy a yacht.
What do you think about the wealthy cutting back on spending? Can it really even be considered frugal if you don’t eat fine steak anymore to save money? Are these indicators of slow luxury sales a sign of the times? How are you cutting back?
Hello! I’m going to be on NPR’s Talk of the Nation on Thursday. I am going to be frugalizing and carrying on. Please tune in if you get the chance.
*UPDATE*
Here’s the audio link.
Ok, so last night I chatted with my friend, Tiffany. She works in the fashion industry. As part of a gift bag from a designer, she got a $27 Thymes candle during Fashion Week. Tiffany can’t stop raving about this free candle. The scent is red cherie, and everyone in her office says the candle gives them a sense of peace. She eats at her desk and the scent whisks away any old food smells. She even says it takes away her stress. Did I mention she works THREE jobs? I mean, this candle sounds like joy in a jar. Tiff says she would have buyer’s remorse for spending $27 on candle. But if something is that thrilling, I say budget for it. Everyone has their own way of budgeting, but I think purchasing the candle could come out of the miscellaneous or entertainment section. Right now, I’m working on retooling my budget so I won’t have anymore blousegate stories. A frugalisto friend, JD, recommended mint.com .
How do you divide your budget? Do you have a miscellaneous file for treats such as, oh, high-end candles? Do you think that no matter what, $27 for a candle is nuts? What software for budgets do you use?
I am a big Googler. I Google my friends, dates and yes, myself. I ran across this article in the Financial Times. Chrystia Freeland is the U.S. managing editor of the international business publication’s New York office. She refers to my Vow of Frugality article and The Frugalista Files blog.
Freeland writes about what it’s like to see America tighten its belt. Private prosperity, she says, has always been an important part of America’s appeal. But now, this is what she’s noticed:
…it is with some sadness that I note that America’s age of indulgence seems to be giving way to an era of frugality. Earlier this month, for instance, Lee Scott, chief executive of Wal-Mart, told me and my colleagues that his careful customers had started to switch from buying 32oz pasta packages to the 48oz size, with a lower price per ounce. Martha Stewart’s fans appear to be feeling the squeeze, too. According to Susan Lyne, the chief executive of Stewart’s eponymous company, they have started to ask for recipes that use less lavish ingredients.
I agree with her. While I do think a culture of spending is detrimental, the ability of the middle class to buy nice things and still have money in the bank were benefits of American culture. Nowadays, many people are cutting back just to stay afloat financially. I wrote an article last week about American charities needing more money so they can afford food for Haiti. The non-profits, just like many regular working Americans, are worried about having enough money to feed people.
In all, I’m glad that I am taking this spending timeout. It needed to happen years ago.
What do you think? Is it a good thing that people are being forced into frugality? What do you think of Freeland’s perspective? What does the international community think of America’s spending habits and now LACK of spending? Is this a wake up call?
Every year, the National Association of Black Journalists holds a convention. I missed early bird registration, so I must pay $375. A flight to the host city , Chi-Town, will be at least $200. I have a place to stay while I’m there. If I go, I won’t have to spring for a hotel room. The convention is for professional enrichment. There are workshops, parties, err, networking opportunities and guest speakers. My company is giving $100 toward costs.
Over the last year, with the changes in the economy and media industry, I’ve been brushing up my skills. I didn’t do a grad school stint, but I took some courses on new media at this place. I took a $600 course on content for websites that I loved. I took a $400 course on Flash, which made me run out of the room with my head pounding. I took a community college course for $120 dealing with new media. Heck, I even launched a website for not a small fee (think tax return spent).
I’m saying all this to say that I have been spending a lot of money upgrading my internet skills because it’s an interest of mine. I don’t regret taking the classes, but I wonder if organized learning is something I will have to factor in my budget. I know a coworker who spent tens of thousands learning video, which is all the rage at newspapers.
Is it worth it? Now, my blog has done very well. I got a mention last Saturday in America’s fav paper (other than the Miami Herald). For a writer, it’s HUGE that a reporter from the New York Times would notice what I’m doing. So maybe paying for my new skills has "paid off." Well, maybe paid off in recognition. I still haven’t "cashed in."
What do you all think? Have you had to invest in your career? Do you worry about spending too much on courses? Do you feel like it’s something you must do to stay relevant? Do you only go to career development courses that your company pays for? Do you wish you spent more money getting new skills at work? Or, do you think people need to learn how to pick up a book and self educate? Advice, pretty please.
Ok, so a lot of Frugalista Files readers who checked out my budget were aghast that I bought a $16 shirt. I consider myself a savvy shopper and considered the black, blouson shirt a great find. I can wear it to dinner, to a club, heck, even to work. Also, I think Arden B. has decent quality clothing. I know I’m saving money, but you have to buy clothing sometimes. I created a little poll below to get the views of the masses. Please vote!
The economic stimulus checks are trickling in ahead of schedule. I can’t wait to get mine. Many retailers are offering deals for customers who turn over the check. Wal Mart is cashing the checks for free. There will be no retail excursions on my check, no matter how "gracious" the offer. I know businesses are hurting from the slow economy but personal finance matters the most. I say pay off debts or save. I went to the mall last Saturday and noticed a $15 sweater from the week before was now $40. I think some of these stores are jacking up prices in anticipation of the mini-windfalls. Meh.
