Updated: Top FIFTEEN Garage Sale Rules

I originally published this in May of this year, but it seems that with the warm weather waning (here at least) and kids going back to school, there's not a lot of time left to get in that last garage sale. Newly improved, we've even added a few more tips (And I put them in the middle so you have to revisit the whole post, bwa-hah-hah. No, seriously, it's just where they worked).

So in an effort to de-clutter (and because we have no desire to schlep all our stuff to Oregon), we had a garage sale. Garage sales, yard sales, moving sales are all things I've been heavily involved in. In fact, my first entrepreneurial activity was at a family garage sale when I was about 8. I bought flats of bottled water and generic sodas (to increase my profit margin). I put them on ice and sold them for 50 cents each. I netted $40. I wanted to sell lemonade like they showed on TV, but my mother graciously explained contamination and poison concerns to me.

After last weekend's sale, I've discovered there are certain rules to having a good sale.

#1: WEAR SUNSCREEN!!! I am a human lobster. In the two hours it took me to set up the garage sale and then go put on sunscreen, I laid the base for a very painful, peeling sunburn. I cannot emphasize this enough, wear sunscreen. Consider the elements, whether they be sun, rain or wind when choosing the date and setting up your sale.

#2: Get your neighborhood involved. A multi-family yard sale will always bring more interest, and someone who's only looking for sales with tools might buy your crystal vase as an impulse buy for a friend. We also use garage sales to get to know our neighbors better. After we all close up, we invite everyone into our driveway for a barbecue. Nothing brings people together more than making money followed by hot dogs and beer.

#3: Make sure you're not doing this on your own. You will need at least one other person for pee breaks, water and food runs.

#4: Have change available the night before. This is self-explanatory; if you can't make change, you can't make the sale.

#5: Follow the 10% rule. You might have paid $100 for a crystal vase, but at a garage sale you can usually expect to make 10% of the original price. It used to be (and sometimes still is) 10-30%, but people are really looking for a bargain. Case in point: People used to come to my garage sales with a handful of ones budgeted for "garage sale money." This last one I had several people come with handfuls of change.

#6: Don't think you can put vintage or antique and all of a sudden the 10% rule vanishes. Seriously, I know they now play 90's grunge music on the classic rock stations, but that doesn't mean your 1980s juicer is a priceless relic. If people are looking at you like you're crazy when you say the price, you very well might be.

#7: Have a free or 25 cent box up front, and your $1 table in back. Once people hear or see "free", it doesn't seem to matter anymore that they were only looking for yard tools, they are hooked. Once the 25 cent box reeled them into your yard, you want them to look through as many items as possible. Positioning your least expensive items in the front, and your second least expensive items in the back, generally causes people to walk through your entire sale. The more people see, the more likely you are to sell. Which brings me to....

#8: Put all of your items out clearly. Unfortunately, people are inherently lazy. While a select group likes to go searching for buried treasure, the likelihood is if your items are buried under stacks, and people can't see what they are, they won't be sold.

#9: Advertise. Post your sale on craigslist, in the newspaper if it's big enough, but more than all else have good signs. Park your car on the corner with a big neon poster on the back. Put your signs on boxes so they don't blow away. And while we don't like to think about it, send your extra person to check on your signs every once in a while. Some people like to take good signs for their garage sales or turn arrows around.

#10: Keep track of the money. If you plan on donating all proceeds to charity, then all the money can go in one jar with no worries, but if you have multiple people participating it's important to keep track of dollars and cents. We put all the money in a jar, but keep a piece of paper divided into columns with each party's name at the top of a column. When an item is sold, the amount is written in the individual's column. At the end of the day you tally the numbers and give everyone their total. If you have a hard time keeping track of whose the items are, divide your garage sale geographically, and just ask, "Where did you find this?"

#11: Be friendly. As we started to run out of things to sell, people would drive up to our sale, slow down and look, and keep on driving. A wave and a smile encouraged most to stop. Part of the garage sale culture is meeting new (and unusual) people, a chat, and maybe a good find.

#12: Leave the pets in the backyard. Not everyone likes your dog, no matter how little, or how cute you think they are. People will pay more money for items from a pet free, smoke free home, so let them think what they want.

#13: Try not to smoke in the middle of your sale. You're a smoker, I get that. I know that you have the right to, and it's awesome that you exercise your personal freedoms. I will also exercise my right not to walk through cigarette smoke to give you money. Remember, pet free smoke free = more fee.

#14: Know when to fold 'em.
We had scheduled our garage sale to run from 8 am-4 pm, but we also didn't plan on running out of things to sell. We were seriously depleted by noon, and by one, there was no reason to keep anything open. So at 1:30 we picked up our signs and boxed up the few things we had left for donation to a thrift store that supports abused families.

#15: Take you signs down! Unless you want people knocking on your door at 6 a.m. for the next three weekends, asking "When are you putting your stuff out?" I'd take down those signs.

Garage sales can be a lot of fun, but they are hard work as well. Stay organized and think about the tips above, and it should go easier.

Photo courtesy of man pikin

Money Hacks Carnival #79 - Hack The Planet Edition

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Welcome to the 79th Money Hacks Carnival, Hack the Planet edition. There were so many wonderful submissions to the carnival this week (at least a hundred, although my eyes are telling me more like two), but I couldn't include them all. In order to pare down the carnival, I selected Hacks as my theme. In this case, hacks are tips, tricks, and how-to's. Enjoy the carnival, and don't forget to subscribe to Modern Tightwad for more frugal tips and easy money management solutions.

Hack The Planet: Editor's Picks
Does anyone else remember the movie Hackers, when "Cereal Killer" was shouting "Hack the Planet!"? These picks should make you wanna holler too!

Jack Schmidt presents Remake Your Life For $22.45 posted at SectorMatic Money Journal. With so many people moving due to economic conditions, this is a timely post.

Darwin presents How Much is that Puppy? The Most Detailed Dog Cost Analysis You’ve Ever Seen posted at Darwin's Finance. Next to a home, I think a pet is the most emotional decision a person will ever make without counting the cost. (My pup says he's priceless, anyway.)

Ben presents 7 Ways to Save Money on Back to School Shopping posted at Money Smart Life. The notion that you can leave your kids at home was mind-blowing, and so brilliant!

Baker presents 25 Essentials That Are Better and Cheaper to Make at Home posted at Man Vs. Debt. He had me at in home spa products.

mfd presents Be Funemployed - Could You Do It? posted at My Findependence Day. I'm not brave enough to be funemployed, but you might be.

Hack Your Viewpoint
Big Larry presents Is Your Attitude Impacting Your Finances? posted at Out of Debt - Christian Finances and Debt Help.

BWL presents Should financial advice for women and men be different? posted at Christian Personal Finance.

Wojciech Kulicki presents Readers Weigh In: Your Worst Financial Nightmares posted at Fiscal Fizzle.

debt kid presents Depression and Debt a Dangerous Combination posted at Debtkid.com.

Wealth Pilgrim presents Become The Center The Universe In 32 Seconds a Week posted at Wealth Pilgrim: Money Management Advice, Financial Stress Management, & Resources.

Hack Frugality
Jason R Fisher presents 100+ Frugal Money Saving Tips posted at Improve The Quality.

anotherjen presents The Next Rich Girl: Recession Lessons: Public Transportation Ain't So Bad posted at The Next Rich Girl.

Wise_Bread presents Save Money on Travel Accommodations posted at Wisebread.com.

Billeater presents Cutting Down Summer Air Conditioning Costs posted at Billeater.com.

Curt presents In the Eye of the Storm, Get a Jump on Frugal Living and Start Saving Today posted at PennyJobs.com.

Mrs Bankrupt presents Genetically Thrifty Tips for Christmas in August posted at Mrs Bankrupt.

Hack School
Chris McClelland presents Tips to Surviving Business School or Undergraduate Life: Books, Textbooks, and Supplies posted at Lucrative Investing.

MatthewPaulson presents College Debt - Work Study a Unique Solution posted at Fine Tuned Finances.

Paul Van Lierop presents College Savings: Coverdell ESA vs. the 529 vs. Coffee Cans in the Backyard posted at FiscalGeek.

Hack "Home Economics"
Doug Boude presents Buying a New Home is EASY! posted at Doug Boude (rhymes with 'loud').

PT presents Details About the $8,000 First-Time Home Buyer Tax Credit posted at Prime Time Money.

J. Money presents Calculating Net Worth: Does Home Value Belong There? posted at Budgets are Sexy..

Tom @ Canadian Finance blog presents Insurance You Can Do Without - Mortgage Life Insurance | The Canadian Finance Blog posted at The Canadian Finance Blog.

Tallahassee Real Estate presents Consider Paying Home Mortgage Discount Points posted at Tallahassee Real Estate Blog.

Hack Your Income
vh presents A$K… posted at Funny about Money.

Raymond presents How To Make Money Blogging posted at Money Blue Book Blog.

Hack Free Money
FIRE Finance presents Free Money - Online Bank Account Signup Bonuses posted at FIRE Finance.

Hack Your Finances
Jason presents How To Save For A Rainy Day: Personal Finance Gives You Some Basics posted at Help for Your Personal Finance.

Tyler presents Want to Be More Green? Get Your Finances Together posted at Frugally Green.

Patrick @ Cash Money Life presents Beyond The Latte Factor posted at Cash Money Life.

The Smarter Wallet presents Best High Yield Savings Accounts posted at The Smarter Wallet.

Banker Saver presents Compare Auto Loan Financing Options Before Buying A Car posted at Banker Saver.

Hack Credit
Mr Credit Card presents What You Can Do About Rising APRs? posted at Ask Mr Credit Card's Blog.

jim presents How to Compare 0% Balance Transfer Offers posted at Bargaineering.

Ray @ Financial Highway presents Dealing with Collection Agencies- Tips on Handling Collection Agencies posted at Financial Highway.

Silicon Valley Blogger presents Your Free Credit Score: Is There Such A Thing? posted at The Digerati Life.

CreditCardAssist.com presents Credit Card Reform – How It Will Help You posted at Credit Card Assist.

Jim presents CREDIT REPAIR AND SIMPLE LIFE ARE SYNONIMOUS posted at Insurance & Finance.

Hack Retirement
20smoney presents Could You Retire Off Investing In China? posted at 20s Money.

Investing Toolkit presents Building A Retirement Portfolio posted at Investing Toolkit.

Jeff Rose presents Can You Rollover Your 401k to a Roth IRA? posted at Jeff Rose.

Barry presents Retirement Planning: Can You Make Do With Less? posted at Associate Money.

Hack Investing
Jason presents Diversify Your Investments. No, Really, We Mean It posted at Automatic Finances.

Deposit Accounts presents How to Find a Financial Planner posted at DepositAccounts.com.

Austin Frakt presents Willingness, Ability, and Need posted at The Incidental Economist.

TIP Guy presents Stock Buying Process posted at TIPBlog.in.

Miscellaneous Hackage
Miss Bankrupt presents Managing Medical Bill Messes posted at Miss Bankrupt.

Heidi presents 5 Tips for Having a Successful Garage Sale posted at Little People Wealth.

If We'd Only Known.....

by a.b.

She stands slowly, hearing the scrape of the chair sliding back on the tile floor. As she raises her head and looks around the room, she isn't really comforted by the somber, yet encouraging faces, waiting for her to speak. After taking a deep breath, she says: "My name is a.b., and I have debt."

I am revisiting this quote, because I want to be upfront regarding the frugal tips and personal finance information I post. This isn't a hobby for me; this is necessity. Through the years, I, and then dear hubby and I, have acquired student loans, car loan, credit cards, and personal loan. There are so many times we have looked back and thought, "if we'd only known."

If we'd only known about meal planning and grocery shopping, we would have saved hundreds of dollars a month during our first two years of marriage. Now, we base our meal plans around what's on sale, and stock up with really good deals. We went out to eat at least five times a week for the first six months we were married (usually fast food). I figure that cost us about $300/month alone.

In hindsight, you never need a car loan. This is where I really feel dumb because I did this twice. When we first got married, our transportation costs were running $750/month for a Dodge Dakota, between payment, insurance, and gas. The real foolishness was we lived within walking distance of work, and would've spent less just renting a car when we needed, or selling the Dodge and saving for four months to buy a little beater. It was a relief to get out from under that expense. However, three years later, (also known as enough time to forget), we ended up with a car loan again. (In all fairness we weren't near our work, and the public transportation was ridiculous.) I ended up getting a larger loan than I wanted to because the bank had a minimum loan amount and minimum year for car loans. If I had started saving earlier, or even taken out a smaller loan (like a personal loan or Prosper loan), I would've gotten an older car like I wanted, and spent far less.

Lastly, I wish we'd given more consideration before going to school. We took on excess student loans to the tune of $7000 for university that we did not finish. In the end, we found that vocational school with an occupational skill was a better fit, but the previous tuition had already been paid.

By my calculations, if we'd known better, we wouldn't have acquired at least $20,000 in debt, and would be greatly ahead in our savings. Frankly, we're probably hard-headed enough that we had to learn the hard way, but it is much more difficult to make the right decisions from a negative financial position, than even a zero position. At least we know what to do now.

Frugality Still Not "Acceptable"

by a.b.

Thank you to Automatic Finances for making this post an Editor's Pick in this week's Festival of Fruality. Check out the carnival for more great articles!

Apparently the first rule of frugal club, is you don't talk about frugal club.

Like many others, I was hoping that this "Great Recession" we are in would level the playing field between frugalists and retailists. Since so many people were forced into Goodwill stores, Savers, and Deseret Industries, one would think that money saving techniques could become common ground. Not so, according to "Cheap Chick" Lesley Mitchell of the Salt Lake Tribune. A portion of her article for the Salt Lake Tribune, "Thrifty Shopping Comes into Vogue" states:

"...a number of shoppers, including the Lexus owner, said they don't want their name in the newspaper because they don't want 'everyone to know' that they are shopping in a thrift store. The prospect of being in a photo sends another shopper scrambling to the opposite part of the store.

For some, secondhand goods still have a stigma attached to them. Several teenagers shopping at the Deseret Industries store with their parents said they wouldn't want anyone at school to know where they had bought their clothes and shoes."

It's sad to think that somewhere in the West Hills there's a housewife hiding her generic peanut butter in the bottom of the grocery bag, and waiting until midnight to check The Simple Dollar for fear one of her friends might find out.

This is nothing new for me. When I was 13, my favorite dress was a double-breasted, navy blue, Anne Klein, that I bought at Tickled Pink, a thrift store at the end of the street, for eight dollars. And I bragged about it. My mother made me budget back to school shopping, and so I went to Woolworth's (don't say anything, I'm not that old) to get reams of binder paper for 39 cents each. My exhilaration at my good deals was so contagious that I did get some of my friends involved, but that was always in addition to their regular shopping, never as a substitute.

What's sad is this reiterates many of the fears that pf bloggers have been expressing, that the newfound joy of frugality is a passing phase. In all honesty, there are some things I have cut back on that I would return to when the economy stabilizes or I'm employed again. I would buy heartier breads, Great Harvest is a luxury for us. I would encourage my husband to buy the newest Bookworm Adventures because I know he loves it. I would buy some more premade foods to have in the house for "I don't feel like cooking" emergencies.

What I will not change is the joy I find in purchasing a quality product at a second hand store, garage sale, or on craigslist. I will also not stop sharing my "great find." I am, however, preparing for a change from raised eyebrows and accolades, to one raised eyebrow with the, "Oh, that's nice." Kind of like the old days.

Photo Courtesy of David Jackmanson

Don't Ignore Customer Service Warning Signs

by a.b.

I'm really not fond of getting my haircut. I hate the smell of salons, we just moved here so I don't even know who to go see, and I hate breaking in a new stylist. However, after looking in the mirror for the past week, my hair was telling me it was time.

So I called a local salon and asked if they had any availability.

Issue #1: If you are going to answer a business phone, particularly in a noisy area, speak up! I wasn't even sure I had the right place.

I went in for my appointment, and the stylist had hair that was too "pretty" for me. I like a messy, choppy hairstyle, and the stylist had perfect 90210 hair.

Issue #2: The stylist hardly looked at my hair and didn't communicate to me what she was doing, until it was too late to stop her.

Even though I showed the stylist pictures of what I wanted and explained, longer layers in front, choppy and wispy, with a thick, longer bang, and shorter in back. Basically an a-line goes punk. What I got was shorter bangs and feathered in sides. I should've known I was in trouble when she brought out the giant 80s rolling brush. I wanted to look like I could go to a rock concert when I left, but instead I looked like I was walking into an episode of Friends.

Issue #3: After my bang was already too short, she went to cut it again and I asked her not to. I was ignored. Big mistake.

I explained that the cut she was giving me was not what I'd asked for and not what we discussed. She told me what she was doing, and I reiterated that I knew exactly what she did, and it was not what I wanted.

Issue #4: The stylist assumed I was an uninformed consumer.

I am well aware of my hair's eccentricities as I've been stuck with it for a little while now. She made a big deal about how fine my hair was, and then used a razor to layer it. Stylists who use razors on fine hair do so out of pure laziness because it strips the ends; it causes split ends! She could've used scissors; she just didn't want to take the time. Her lack of interest in me as a customer was reflected in my lack of interest in her tip.

No worries, though. The one thing I've learned through time is hair grows back, and I can do a lot with a little styling product. Too bad she won't see me again, or any of my friends or family.

If I hadn't ignored some of the customer service warning signs, I wouldn't have ended up with a cut I didn't like, because I wouldn't have been in that chair in the first place.

Truthfully, I will probably start going to a beauty school for my haircuts. It may take longer, but I've noticed that hair stylists (as opposed to hair students) are more concerned with a cut that they think looks good. They want your friends and family to say, "No, it looks great! Who did it?" despite your protests of, "It doesn't look right!" horror. (FYI, the key to warning referrals is to say, "I know it looks alright, but the stylist didn't listen to a thing I asked for.") At a beauty school, much of their grade is dependent on communication with you, and how much you like what they did. I'd rather go home with hair that will look alright in a week, a fatter wallet, and knowing I was heard, then have another bad customer service experience.

What You Won't Talk About Colors What You Will

Thank you to J.Money from Budgets are Sexy for including this in the Carnival of Personal Finance. Saving money's sexy too, so please consider subscribing for free tips and easy money management solutions.

by a.b.

Religion and politics. Aaack! I said it. There are things you just don't talk about. But how does what you won't say, affect what you will?

Even as personal finance writers, we've broken that taboo of discussing money, but how much is our writing, our concepts of a need vs. a want, and our general stance on money, colored by other taboos?

What if you knew someone was in ridiculous amounts of debt, and just found out they were pregnant? Would you say congratulations, or ask if they'd thought of any "alternatives" to their pregnancy? I bet it depends on how much huevos you got, and what your fundamental system of beliefs is.

If you blamed part of your financial status on the actions of a certain politician or governmental regulation or entity how would you comment to another person who believes it was the right thing to do?

I remember a pf blogger who's blog actually got me into this whole mishigas (don't know whether to hug him or shoot him), but he strongly believed in tithing. Out of everything, that generated the most commentary, the most discussion, and the most venom. What would you do if your atheistic financial planner dismissed it as foolishness? Would you hide that budget line when you went in for your discussions?

A while back, CNN ran a great piece called Religion and money: The price of faith. Until then, I knew the additional costs my personal beliefs entailed, but I hadn't really thought outside of my own box.

It's much harder to stick to your system of beliefs when they are under direct scrutiny. It's much easier to attack another when sitting behind a keyboard. Personally, I've always felt that the comments I read show more about the commenter than they do about the initial writer.

It's difficult to be balanced writers anymore. Maybe that's why so much of journalism has lost it's allegedly unbiased nature. There are personal opinions, fundamental beliefs (possibly what you're raised with), political investments, and spiritual callings.

I personally refer to things that fringe on the religious or political as a "personal spiritual issue" when asked in the blog world. Why? Because whether or not I believe in anything, is generally irrelevant to the topics at hand. Overgeneralizing it in the way that I do allows the reader to assume it is whatever they choose, whatever they can live with. I already know what I can live with, and am quite content in my system of beliefs, but the average person...is not me.


Photo Courtesy of scion cho

Looking For A Great Freebie This Weekend?

by a.b.

This weekend (August 15-16) more than 100 U.S. National Parks are offering free admission. To find one near you, check here.

Thank you Smart Spending for the reminder!

Great for couples and very kid-friendly.


Photo Courtesy of Wolfgang Staudt

I Can't Do Nothing

Thank you to Almost Frugal for including this post in the Carnival of Money Stories. Please consider subscribing for more money stories, along with money saving tips, and usually better humor.

by a.b.

The sign said "I may be ugly, but we're still hungry." I looked down and saw the most beautiful well-behaved mutt, laying so sweetly on the corner, while the homeless man tipped his hat and waved at everyone who drove by. It broke my heart because I was unprepared. Normally I keep a couple granola bars in my car, but I hadn't restocked. I now have granola bars, and two individually packaged cups of dog food.

I know many people have strong feelings about the homeless, that they are scam artists, drug addicts, or whatever other preconceived notion they may have. However, how I treat these individuals has far less to do with their character than it does with mine.

My parents taught me to take care of those less fortunate, even if you have nothing. My dad always rewarded hard work and would have me go give tips to street performers, telling me that is some of the hardest work you could do. When I was staying with my great-grandparents in the San Francisco marina district, my mom would take me to the park and we would give at least kind words, if not food, to the homeless there. To this day, I can't pass a homeless person without a smile and a nod. No matter what, I can try to give them their dignity. Even when we had nothing, were almost homeless ourselves, and got our food from Senior Gleaners, my mom took another person she knew needed assistance to get food.

It hasn't always gone perfectly. I remember another time in San Francisco, I asked my mom if I could give my lunch leftovers to a homeless man. An untouched half turkey sandwich. When I handed it to him, he said,"I don't like turkey," and handed it back. I looked at my mother and said, "I guess he wasn't really hungry."

Right now, I'm unemployed, and grateful for the assistance I've been given. The granola bars in my car cost me pennies, since I buy them in bulk in Costco, and two cups of dog food is hardly expensive. Most homeless I've met are more touched by kindness to their dogs, the last ones to give them unconditional love, than anything you can do for them, and I can honestly say the dogs I've seen in the care of the homeless are the most well-behaved I've seen. The most well-fed spoiled purebreds can't hold a candle.

I was devastated that the man wasn't there when I went back. I can still see him and his dog in my head, and it's haunting me. I wanted him to know that he was heard.

I know there are those out there who may not be deserving, but I could never decide who I want to punish by ignoring their cries. Could you turn your back on someone who genuinely wanted your help due to the ones out there who are attempting to profit by panhandling? I choose to live my life hoping for the best in and for people.

I see nothing wrong with giving a few calories or a bottle of water to someone stuck in the elements. I know some people think it encourages crime or for people to stay on the streets, as if it's that fun.

If you don't feel comfortable giving to someone who's on the streets, give to an organization that helps. There's even a group here in Portland called The Pongo Fund, which gives kibble to homeless pets.

But do something; I know I can't sit and do nothing.


The story of the man and his dog in the above photo can be found here. But it is a story like mine, with an unknown ending.


Photo Courtesy ofBL1961

What Constitutes An Emergency?

Thank you to Studenomics for including this article in the Carnival of Money Hacks!

by a.b.

Recently, I've encountered a $1200 expense that flew out of nowhere. I am choosing to pay this in installments (potentially on a credit card), instead of dipping into my emergency fund. Why? Because I think an emergency fund is for emergencies only.

Emergency Fund 101
An emergency fund is a set amount of savings (different from your general savings) for a crisis, so that you don't have to turn to a credit card, payday loan, or worse, your mother. Your emergency fund number should be based on your monthly expenses, not your monthly income. So if you need $2000 each month to pay your bills, you have to decide how many months of savings you need. Suburban Dollar recently had a great article on emergency funds. It is important to consider the likelihood that you and your significant other will both be unemployed, how close your kid is to needing braces, etcetera, before you decide on your magic number.

My magic number is two months total expenses, at least four months rent. Why? Because it's my comfort zone. The "baby emergency fund" of $1000 promoted by Dave Ramsey kept me up at night. I also don't see stock piling 6 months of expenses ($12000), when that would pay off all of my credit card debt!

But What Is An Emergency?
That was the recent debate for my husband and I. Did either his car needing major repair, or my need for tuition constitute an emergency? Not really. We do have a second (although gas-guzzling and in need of substantial upcoming repairs) car. I do qualify for a basic administrative position outside of my field. While the income difference is huge, and it would mean not taking advantage of paying clientele waiting for me to be licensed, that tuition would not be the difference between us eating and starving.

We did have the cash to pay for either one out of savings, but not both. We would have the money within the next few months to pay for both.

Originally, we were going to scrap my husband's car, but where else will we find a reliable car for $1500? And I found out that the college I'm looking at will allow me to pay my tuition in installments, allowing us to do both. We do have a 0% on purchases credit card as backup during this transition time.

We had the money in our emergency fund to cover both. Why didn't we use it? Because these are not emergencies. That emergency fund is the last "hail mary pass" between my family and starvation and homelessness. Nothing else qualifies. I like my husband's car very much, but I have no desire to live in it. Nor will my tuition pay the electric bill.

What each person defines as an emergency is based on their own principles. Since we lead an extremely simplified life, what some would view as emergencies, we can do without. I knew someone who used to view the Nordstrom shoe sale as an emergency. I love a pair of leather boots as much as the next girl, but that's what a savings account is for, not an emergency fund.

Financial Honesty at Saving for Serenity

Due to Alan Schram's recent wedding (congratulations!), I have the privilege of writing a guest post for his blog Saving for Serenity. Please read, "Financial Honesty Creates Personal Freedom" and check out Alan's blog as well.

Thank you,
a.b.

Sometimes Debt Is The Only Choice

by a.b.

I can hear the anti-debt minions coming up the street with torches and spikes for my head. Unfortunately, for some people debt is a necessary evil. The end goal should be not to take on more debt than you need to, and not to maintain debt.

Think about it. How many people could ever buy a house with cash? The goal is not to overpay, and to pay off your home as quickly as possible.

Right now, I'm in a bit of a no-win situation. We were saving up money to fix my husband's car because it unexpectedly blew a valve, however, I've been informed that my professional licensing from Nevada will not transfer to Oregon without an additional 40 hours of education. The cost to fix my husband's car is $1500, and the cost for my education, $1200. I am being kept unemployed by bureaucracy.

One or the other will need to go on a credit card, because I refuse to drain our emergency fund at this moment. It's a catch-22; I've been in my field for so long, I'm not really qualified to do anything else, but I can't continue in my field without spending the money. My husband's car is the fuel-efficient and (generally) more reliable one. Fixing his car will save us $100/month in gas alone.

So while I would rather not take on any extra debt, I also don't want to sit around waiting for my unemployment to run out. I am currently looking at this money as a business investment. I already have potential clientele at a value of $550/month over and above potential employment.

I will do everything possible to keep paying down all of our debt, and remember that like something else, ahem, debt happens.

Peer-to-Peer Lending Gets Vicious: Shark Tank

by a.b.

As banks tighten their hold on credit, and interest rates continue to be pitiful, peer-to-peer lending has taken on a shining light sort of quality. It allows people to continue borrowing money, and when they (hopefully) pay it back, it gives investors comprised of everyday people a better return than the banks have been offering. Now Hollywood wants their cut.

It isn't that Shark Tank is a far less genial rip-off of BBC's Dragon's Den, a show I like very much. It isn't even that the panel is comprised of business people, former entrepreneurs, that bothers me. I can't even completely put my finger on it, but I don't find this show very worthwhile.

The desperate entrepreneurs applying for the shark's money pitch their sob stories to the viewers at home, and their brief marketing shpiel to the sharks. While the panel bickers amongst themselves about company valuation, we have no idea how they reach that conclusion. Many of the people approaching them are doing so from a position of desperation, a last hope before everything in their life crumbles. It was equally sad to watch as panelists who were once great innovators shied away from anything outside of their current comfort zone; you could almost see liability warning lights flash across their foreheads.

I don't think this show will have legs (or maybe I just hope it won't). Many people who have gotten involved in peer-to-peer lending, have done so to create a supportive and mutually beneficial environment. A great example is Matt Jabs at Debt Free Adventure, who consolidated his debt with Lending Club with the help of fellow personal finance bloggers. Watching the hopeful, desperate, and innovative get scolded on national TV is not going to lift people's spirits in this economy, and I believe people are disheartened enough that they are far past "misery loves company."

If you are listening ABC, I would prefer to watch Extreme Business Makeover, where your sharks go to these people and show them how to create profitable businesses, teaching the audience important business skills in the process. At the end, the former shark can decide to be an angel investor, or not, telling us why. You can even partner with Lending Club, Prosper, or one of the other peer-to-peer lending sites so that at home viewers can invest in these businesses based on what we see.

In today's economic times, we are tired of sharks; bring on the angels.


Photo Courtesy of StormyDog

Mmmm, Seafood!

Thank you to Jenn at Frugal Upstate for declaring this an Editor's Pick at Festival of Frugality! Check out the Festival for many more great articles, and if you're coming here from there, don't forget to subscribe for more money saving tips!
by a.b.

Yesterday, when I was grocery shopping at Safeway, I saw large U-12 scallops in the seafood section with my favorite tag, 50% off. The 50% off tag is usually reserved for items expiring that day, which I don't usually risk with seafood, however, those U-12 babies looked gorgeous!

For those that don't know, U-12 scallops means there are a maximum of 12 scallops per pound. My four scallops were a third of a pound of meat! Normally at $14.99/pound ($11.99 after club card), my favorite tag dropped the price of the scallops tray to $5.74. Sauteed in a little bit of olive oil, garlic, salt, pepper, and the juice from 2 limes (50 cents each), over buttered fettucini noodles, the scallops were a complete meal. We added a little jalapeno cheese bread, and had fruit for dessert. Total cost of the meal: $9.74 for a meal that served 3, with dessert. While not my most frugal, it was still an excellent bargain for a gourmet meal.

Seafood is an excellent source of protein, but many frugalists dismiss it as too expensive. At the Milwaukie Farmer's Market on Sunday, I found a dozen fresh caught oysters for $7, whole salmon fillets for $7. Trader Joe's has excellent canned crab that I tried in a pasta at their tasting section. When I expressed how good the crab was, the demonstrator said, "Yeah, we had to try something. It wasn't selling because people didn't believe it was real crab; it was too cheap."

Don't dismiss any potential protein based on cost. If you can find the source of your seafood, and can identify how, or even if, it was processed, you can find excellent fish. The best ahi tuna fillet I've ever seen, was at Costco! Look for the bargains, and learn how to cook simply. Your budget and your palette will thank you.


Photo Courtesy of maggiephotos

Festival of Frugality #189 - Extreme Heat Edition


Welcome to the 189th Festival of Frugality! I'm very exciting to be hosting my first carnival (ever), so I hope you enjoy what the blogosphere has presented for the frugalists and retail-ists alike. Please feel free to look around the blog. A subscription here brings free money saving tips, brutal personal experiences, tasty cheap recipes and rampant sarcasm.

Considering that it's been ridiculously hot in Portland, I thought I'd offer the Extreme Heat edition. While frugality isn't taking as much heat as it used to (people aren't blaming the economy's lack of rebound on us as much), it still takes a lot of cool to go against the grain. Please enjoy.

Editor's Picks

Tyler presents Lessons From Children's Tales: The Tortoise and the Hare posted at Frugally Green. The lessons from our youth don't become less relevant because we get older.

FMF presents It Pays to Ask -- You Never Know If/When It Will Work posted at Free Money Finance. My mother always said rule #1 was: "Don't ask, don't get." Maybe she met FMF?

Francine Jay presents 10 Signs You’re Not as Rich as You Could Be posted at FRUGILLIONAIRE. This could easily be retitled 10 signs you're not as frugal as you think you are.

Patrick @ Money Saving Deals presents Free Smoothie From Jamba Juice posted at Money Saving Deals. Since this frozen treat has been my standby from the wisdom teeth removal of 2000 through last week's heat stroke of 2009, I had to get this deal out before it expired.

Cool Your Finances

PF Credit Cards takes you through the step-by-step process of creating a balance transfer with How to Save Money With 0% Balance Transfers posted at PF Credit Cards.

DR asks a question that's been on my mind lately with Balance Transfer Smackdown: 0% for 6 Months vs. 3.99% for 12 Months posted at The Dough Roller.


Cash for clunkers is a hot topic from Four Pillars with 2009 Cash For Clunkers Program - Trade In Your Old Junker For Money posted at Four Pillars and Patrick @ Military Money with Cash for Clunkers Information posted at Military Finance Network.

kathryn presents Easy Ways to Slash Bank Fees posted at Out of Debt - Christian Finances and Debt Help. Easy as pie and well worth the effort.

Silicon Valley Blogger presents Save Your Money By Paying Yourself Last posted at The Digerati Life. Since I always thought we were supposed to "pay ourselves first" this was a great different read.

Banker Saver presents Compare Auto Loan Financing Options Before Buying A Car posted at Banker Saver. It's always good to know your options before you make a decision. At least then you know you made the best one possible.

Cool Your Fun


Frugal and free summer fun - 'nuff said.

Nicki presents The Free-dom Of Summer posted at Domestic Cents.

jim presents Ten Great Summer Date Ideas posted at Bargaineering.

J. Money presents 3 Cheap & Sexy Summer Activities! posted at Budgets are Sexy.

Make it from Scratch presents Milk Jug Bird House posted at Make It From Scratch.

Eden presents 5 Frugal Golf Tips to Make the Game Affordable Again posted at Finance and Fat.

Grace presents Freebie Weekend posted at GRACEful Retirement.

The Smarter Wallet presents Have Fun For Less: Cheap Ways To Enjoy The Summer posted at The Smarter Wallet.

Cool Your Future

Wealth Pilgrim presents Two Steps To Save An Additional $55,012 On College Costs posted at Wealth Pilgrim: Money Management Advice, Financial Stress Management, & Resources. I certainly used one of his steps, and it saved my parents $28,000 a year.


Chris McClelland presents Best buys of the fall posted at Lucrative Investing. It's not to late to start planning your fall purchases, I would add gym equipment to the list too (after everyone gives up on their summer bodies).

Cool Your Lifestyle

Billeater presents Go DIY And Save Money posted at Billeater. No reason to spend money on things you can do yourself.

Tom @ Canadian Finance blog presents 10 Ways To Reduce Your Water Bill | The Canadian Finance Blog posted at The Canadian Finance Blog. Reducing your water bill is both frugal and earth-friendly, an absolute must.

vh presents Is a vegetable garden cost-effective? posted at Funny about Money. A good reminder that the latest frugal must, is not always a must for everyone.

Squawkfox presents 6 Cheap Ways To Stay Cool Without Air Conditioning posted at Squawkfox. Not sure I could've survived without an air conditioner in Vegas, but these tips worked great in Portland (especially the last one).

Patrick @ Cash Money Life presents Unexpected Ways Having a Baby Changed Our Budget posted at Cash Money Life. We never know all the ways a child will change our lives, especially in the pocketbook.

Miss Bankrupt presents My Deadbeat Television posted at Miss Bankrupt. I like her cable math.

The Apprentice presents Are YOU Wasting Your Money? posted at If Blue Eyeshadow's Illegal, I Should Be In Prison. So when I can't repeat that salon look at home, it's not my fault!

Jenn @ Frugal Upstate presents What to Do with Too Much Lettuce in the Garden posted at Frugal Upstate. I hope to have this problem soon.

Miss M presents Fresh and Easy Cares about Good Customer Service posted at M is for Money. It never hurts to share information with stores; otherwise they can't fix whatever is the source of discontent.

Cool Your Life

You just have to read these three articles for yourself.

Madison presents How to Survive and Thrive During a Recession posted at My Dollar Plan.

PT presents Thriving On A Teacher’s Salary and Inspiring Others posted at Prime Time Money.

Matt Jabs presents The Whole Armor of Personal Finance posted at Debt Free Adventure!.


I wanted to thank everyone who submitted; every article was of excellent quality, and I wish I could have included them all.

Thank you for coming by; please visit again!


Fire and Water Courtesy of peasap

Money Courtesy of AMagill

Retro Ice Cream Cone Courtesy of Pink Sherbert Photography

Blues Brothers Sunglasses Courtesty of bucklava