Nov
11

Holiday gifts you can share with the whole office

If your office is like most offices, you find yourself inundated with treats and sweets during the holiday season. Vendors send towers of gourmet fudge, and couriers bring barrels of popcorn and cheese. Co-workers bake Christmas cookies and brownies. Before long, the sugar high wears off, energy levels plummet, and everyone’s clothes fit a bit tighter in the afternoon than they did in the morning.

This holiday season, share a refreshing gift with your colleagues – one that doesn’t have to be eaten to be appreciated. Your co-workers will thank you for being creative and generous, and for resisting the impulse to bring another gift of food.

Fun office supplies

Bring color to the supply closet with vibrant office supplies that you and your co-workers can all use and share. Brightly colored Post-It notes, paper clips, rubber bands, pens, labels, tags, and file folders will make work seem more like fun. Post a holiday card on the door to the supply room, inviting one and all to enjoy. You’ll smile next summer when you run across a neon green paper clip in a boring manila file.

Handmade knitwear

If you know how to knit or crochet, buy discount yarn throughout the year and make simple scarves or caps for your colleagues. Learning to crochet is easy, so try it if you enjoy crafts. Some of the big box discount stores have clearance events where brand-name skeins of high quality yarn sell for one, two, or three dollars apiece. With a simple crochet hook or a pair of knitting needles, you can make gifts for the entire office while you watch TV during the year. Give these items as individual gifts, or bring a box full in during the holiday season, letting everyone pick an item for their own.

Fun and games

Is there a break room or kitchen at your workplace with common table or countertop space? Bring a set of dominoes, cards, board games, crossword puzzle and Sudoku books or jigsaw puzzles that you and your colleagues can enjoy before work or during the lunch hour. Shop for items that won’t take up much room when they are stowed away.

Lending library

Bring used magazines, paperbacks and audio books to the office that you would otherwise have discarded or given away. Encourage others to do the same. Let everybody know that the materials are free to be borrowed, and encourage others to bring their cast-offs to build an office lending library. Don’t let the book-swap turn into a dumping ground. Recycle stale material when it starts to pile up.

Holiday decorations

Adding Christmas stockings, artificial greenery, twinkling lights, and paper snowflakes to the office decor is an affordable way to share holiday cheer. A modest investment in these decorations, especially at the end of the season when everything is on sale, is a great gift to share with colleagues. Set aside some time before or after work to put up the decorations and take them down for storage.

The gift of giving

Nothing is more rewarding than helping others less fortunate than yourself during the holiday season. Work with a local agency to “adopt” a needy family for whom the office can buy gifts and provide holiday meals. Organizing this endeavor is a gift that demonstrates your maturity and leadership skills – and gets the attention of management. Similar alternatives include arranging a Saturday volunteer shift for colleagues to work together serving meals at a soup kitchen or sorting perishables at a food bank, or wrapping gifts at the one of the gift-wrapping fundraiser stations at the local mall.

The holiday season can bring too much of a good thing when sweets and rich food overwhelm the workplace. Instead of bringing more food and contributing to the problem, give creative gifts that the office can share during the holidays without adding extra pounds in the process.

Nov
10

Start a small business on a shoestring budget

Starting your own business is the best way to take control of your financial future. When you’re your own boss, you alone are responsible for your success. High start-up costs keep entrepreneurs from getting a foothold in some industries, but there are several types of companies you can start on a shoestring.

Messenger/Courier

If you have a bicycle or a vehicle, start a delivery business. The types of businesses that need a messenger or courier are virtually unlimited:

  • Deliver pastries and donuts to coffee shops
  • Deliver flower arrangements from florists to customers
  • Deliver real estate documents from the title company to the recorder of deeds
  • Deliver deposits from small businesses to banks.
  • Deliver meals, groceries and liquor to apartment dwellers in cities.

A delivery service has no inventory to buy and no employees to hire, making it an ideal “shoestring” business for an entrepreneur with limited start-up capital. 

Professional Organizer

Do cluttered countertops and overflowing junk drawers drive you crazy? You could start a career as a professional organizer. These wizards transform chaos and clutter into a neatly organized, easy-to-use environment.

Much of a professional organizer’s work involves sorting through piles and setting up a system to keep the same mess from building up again. You may have to give your customers bins, trays and containers to help them stay organized, but you can charge the customer for these items.

Notary Public

The function of a notary public is to authenticate signatures on legal documents. Some notaries maintain an office, but others go to their customers. A mobile notary goes to the signer’s home or office and passes his travel expenses on to his clients.

The requirements for becoming a notary public vary from one state to the next. In general, you must pass a notary public test and be of sound moral character. Start-up expenses are minimal. In Nevada, for example, you pay a nonrefundable fee of $35 plus the cost of an insurance bond. You also have to purchase a notarial journal and seal.

Consultant

There are consultants who provide information and guidance about virtually everything. Do you have advanced knowledge about a topic that others would find useful? Start earning money by becoming a consultant on that topic.

Consultants help people navigate complex processes such as setting up their Medicare coverage, choosing a college, selling stuff on eBay, choosing a day-care, etc. You need a license if you’re going to provide medical, legal or tax advice to your clients, but you can provide many other types of consulting services without being licensed.

Stylist

If you have a flair for fashion, start a fashion styling business for next to nothing. You’ll go through your client’s closet and put together outfits. Photograph each “look” so the client can put it together when you’re not there, and give the client the photos.

Successful stylists also recommend new items that clients should add to round out their wardrobes, and they sometimes shop for clients. Start-up costs include the cost of putting together a portfolio that shows your work. Get started by styling your own closet and making “look books” for your friends.

What have I left out? What other businesses can you start on a shoestring?

Nov
09

Investing in bonds

Frugal folks invest their money so it keeps up with inflation. Bonds are an attractive option for investors who have a low tolerance for risk. Never invest in a vehicle you don’t understand. Today, let’s talk about corporate bonds and treasury bonds as investment vehicles.

Basics

A bond is a debt security where you lend money to the bond issuer, and the issuer pays you interest for the life of the bond. The most common type is a fixed-rate bond, where the issuer of the bond makes regular interest payments to you in a specified amount until the bond matures. When the bond reaches its maturity date, the issuer repays your
principal investment.

Treasury Bonds

Treasury bonds are a long-term investment. You invest as little as $100 and keep adding money in $100 increments. Treasury bonds often sit in retirement and education accounts because of their long-term stability. Treasury bonds mature over 30 years and pay a fixed interest rate every six months. You don’t have to pay state or local income tax on your bond interest, but they are subject to federal taxes.

Corporate Bonds

Corporations issue bonds to raise money for a variety of purposes. Unlike stocks, corporate bonds, don’t provide equity ownership in the corporation. Instead, a corporate bond is an IOU from the corporation to you. You lend the corporation money, usually in increments of $1,000 or $5,000. The corporation makes regular interest payments to you and repays your principal invesment on the maturity date. If the corporation goes belly-up before your bond matures, you lose your investment. Interest on corporate is subject to state and federal taxes.

ROI

To calculate the ROI on your bond investments, divide your earnings by your initial investment.

Nov
07

Almost $33k in debt: gone forever!

Today I went back over all the numbers for our all-time high totals of debt last spring. The results are impressive. Frugal Husband and I have reduced the combined balance of all our debt by $32, 948. It’s worth celebrating, but not by spending money or incurring debt. Two accounts are go

Nov
06

Motivation

Now that we’ve been budgeting and hitting the debt hard for about eight months, the temptation to go back to our free-spending ways can be powerful. Here’s what temptation sounds like:

  • I need that latte in the morning to function at work! 
  • If I pay for it with a credit card, it means more cash in our emergency fund.
  • There’s zero interest for the first six months. We’ll pay it off before then. 

Frugal Husband and I are years away from calling Dave Ramsey and screaming, “We’re debt-freeeeeeee!”  Oh, we’re motivated all right, but we know that the light at the end of the tunnel is a train that’s not going to get to our station for a long time. What are some ways to keep the big picture in mind?

Books and Podcasts

Y’all know I’m a Dave Ramsey fan, so I listen to his podcasts every day — and I realize there’s a commercial on his radio show that suggests doing just that for motivation. I’m not a DR affiliate, and I don’t get any revenue if you click a link through to his site from here. There are dozens of other money-saving and money-making podcasts on iTunes, and radio program archives. Check out books and audiobooks on frugal living out from your library. You won’t agree with everything you read, but you will expand your inventory of money-saving ideas, you’ll adopt new concepts into your own personal money management style and you’ll deepen your understanding of budgeting and investing.

Analytics and Visuals

Another way to stay motivated is to track your successes. Use Microsoft Excel or Google Documents to keep track of how much you reduce your debt every month in a spreadsheet. Once you have data in the spreadsheet, make a line chart that shows your debt going down. Another way to use analytics for motivation is to figure out how much disposable income you have now vs. how much you’ll have when you’re debt-free, and create a bar graph that shows the difference. A simple debt reduction ticker can be a useful tool to help you see where you’ve been and how far you’ve come. Seeing the numbers in a visual form can be a powerful motivational tool. You’ll find yourself thinking of ways to put a downward spike in the debt-reduction chart and to get to that big pile of disposable income even sooner than you’d hoped.

Meditation

Yes, meditation. Give it a chance. You already think of something all day long. Just focus your thoughts on money management for a few minutes every day. Close your eyes and turn off the TV to help you focus. That’s all meditation is. Spend a few moments before you go to sleep at night  imagining how great it would feel to have no debt. Take two minutes out of your lunch hour to imagine what life would be like if you had the wealth to give money to the causes you care about. When you feel discouraged, visualize your debt as a deep pit, and visualize yourself making progress as you climb a long ladder to get to ground level.

These are just a few of the ways  you can stay motivated on your journey out of debt.

Nov
05

Demand Media cleans house

News from Demand Media Studios (DMD – NYSE) in the last few weeks has shocked and stunned the online writing community.

Once a source of easy money for freelancers — myself among them — Demand has separated the wheat from the chaff in its pool of writers and and dramatically cut back on the amount of available assignments.

First, Demand axed its worst writers by putting through the so-called Writer Development Program — an initiative that cut many mediocre writers from the site. Next, the Studio announced it would  have fewer assignments for writers “for the foreseeable future.” Most recently, Demand implemented the “First Look” program, that gives the highest-rated writers a 48-hour window to claim assignments before Demand makes them available to lower-rated writers.

All the content-producing sites (Suite 101, Bright Hub, Helium, etc.) are struggling to regain traffic since Google launched Panda, an algorithm that reduces search results pointing to low-quality sites.  Demand’s pool of available assignments for eHow and eHow Home writers has dwindled to 16,000. Hundreds of thousands of assignments were available just a few months ago.

The best writers have found other work with traditional media or other clients. Still, the online writing community is in a state of flux waiting for the Demand dust to settle. Stay tuned.

Oct
30

I’m ba-aack

Okay, I made the same mistake every new blogger makes — not adding new content! Sorry, readers.

The debt reduction is going OK. I took a vacation earlier this month and spent more than I’d planned, but haven’t used credit cards in almost a year. Debts are down to:

  • Visa card
  • car loan
  • student loan
  • unsecured personal loan
  • 401k loan

I’ve been following the Dave Ramsey plan, which means says start with your smallest debts and pay them off, so I did that. But I’m not sure it makes sense to go with that plan.

  • The Visa is a good one to pay off next because of the high interest;
  • The student loan would be good because it can’t be discharged in bankruptcy.
  • The 401k loan would be good to pay next because it would be due right away if something happened with my job, and paying it off would free up the most monthly income.

For now, I’m working on the Visa bill because of the interest. But I’m open to suggestions.

Jul
01

How to start your own delivery service

A delivery service is one of the few businesses that can be started with virtually no money. If you already have a bicycle or a car, you can start a delivery service with a minimal outlay of cash for equipment. A word of warning is in order: You must be temperamentally suited to a delivery business. If you are impatient, chronically tardy, or prone to fits of road rage, you should try another line of work.

Before you start

The most important decision you will make in starting your delivery service is to determine who your customers will be and what you will deliver for them. Based on this decision, you will research what kinds of regulations govern your delivery service and what kind of vehicle you will need.

Every delivery service needs some form of business insurance. Meet with an insurance agent to discuss the kinds of risks associated with a delivery service, and purchase business insurance to protect your customers and yourself from those risks.

Once you have decided what you will deliver and how you will deliver it, once you have researched the regulations that govern your deliveries and created a plan for complying with the regulations, and once you have assessed and managed your risks, congratulate yourself. You are now ready to implement your plan and start your delivery service.

Finding customers

How will find customers for your delivery service? Perhaps the best way to get started in a delivery service business is to contact an existing delivery service and ask if you can work as a subcontractor, taking their overflow business and making the deliveries they do not have the resources or personnel to make.

To go into more detail, the best way to describe implementation of a new delivery service is to use two hypothetical examples of two very different delivery services: a document delivery service and a baked goods delivery service.

Document delivery service

A document delivery service carries important documents between businesses. You can start a document delivery service with a bicycle and a messenger bag. Your customers will be law firms, banks, real estate offices, and other businesses that need deliveries of documents that can’t be sent by email.

When you go about marketing and promoting your document delivery service, get to know the administrative assistants and office receptionists in the area where you want to work. Introduce yourself, leave a business card or price list, and offer a free delivery to establish your reliability.

Many document delivery services find a niche need and fill it: one delivery service picks up bags of metered mail from tenants in office buildings and delivers the bags to the post office; another document delivery service picks up checks and deposit slips from law firms, doctor’s offices, and other service who receive check payments by mail, and delivers the deposits to the customer’s bank.

Notary Public service

In combination with a document delivery service, becoming a notary public can be an excellent way to add value to your business. A notary public authenticates signatures on documents. Most of the documents being delivered need to be signed – and often notarized – and returned to the sender. If you are a notary public in addition to being a delivery courier, you can earn a fee for delivering the documents, a fee for notarizing them, and a return fee for the round trip delivery.

Becoming a notary public is not difficult. The procedure varies from state to state, so consult the secretary of state where you live.

Baked goods delivery services

Every morning, scones, muffins, and donuts magically appear in coffee shops and cafes, thanks to baked goods delivery services. Some food delivery services require refrigerated vans, but if you focus on early morning baked goods deliveries, your daily deliveries can usually be completed before the weather heats up, even in the summertime.

Perhaps the best way to get customers for a baked goods delivery service is to find a store or coffee that does not offer fresh baked goods, and offer to deliver baked goods daily to the store. Once you have an order for baked goods, find a small, independent bakery to fill the order. Generally speaking, a smaller business is likely to have more flexibility than a big chain or franchise.

Many independent bakeries already have a customer list and a delivery service, but if you make them aware of your reliability and your availability, they will be willing to give you a chance when their regular delivery person goes on vacation or quits.

Pizza delivery service

Delivering pizza by bicycle is one of the most lucrative delivery services one can perform. With a bicycle and a handlebar rack that holds insulated pizza boxes, you have everything you need to start your business. Hungry people are glad to get hot pizza delivered to their door, and they tip generously.

Again, look for local businesses that serve a specific neighborhood, preferably one where few people own their own cars, or where urban traffic congestion makes driving by car unpleasant. Ask the proprietor to add a set delivery charge to the price list, and collect that sum daily from the proprietor. That way you can easily collect payments made by credit card and cash in addition to tips from customers.

Deliveries in rural areas

If you don’t live in a city that supports delivery services for business documents or baked goods, use word-of-mouth advertising to let everyone in town know that you are available for all kinds of deliveries: delivering pets to grooming appointments, delivering packages to the post office, delivering prescriptions to home-bound patients, picking up magazines in the city and delivering them to local customers or news stands, and so forth.

Dependable delivery services are hard to come by. You will find that customers value your entrepreneurial spirit and reliability. With a little planning and a very small cash outlay, you can have a successful delivery service of your own.

Jul
01

Budgeting for July

It’s time to finalize July’s budget.  I’ll edit it and print it out, and Mr. FrugalWriter and I will go over it today and agree on it.

There are few changes from June’s budget. I’m hosting my book club this month, so I budgeted carpet cleaning and extra money for food, but I’ll be making all the dishes this time instead of buying them at the deli like I did last time–boy, was that spendy!

Gas prices are so high that we came in over budget for gasoline last month. We made up the difference by not spending our entire food budget, but that’s another adjustment I’ll make for July.

Jun
29

Are debit card fees in your future?

Now that credit card debt is so unpopular with consumers, banks are feeling the pinch as more and more of us pay off our credit card balances and cut the cards. Consumer-friendly legislation means card companies make less on merchant and overdraft fees.

E. Scott Reckard of the L.A. Times thinks banks will phase out rewards programs, then tack on charges like monthly membership fees.

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