Penny Thots

Ode to the Penny

admin — Mon, 20 May 2013 17:56:09 +0000

On February 5, 2013, distribution of the penny was discontinued in Canada. Canada joined 9 other countries that have discontinued using this small denomination coin. What in the world are we going to do with all those phrases that have been passed down for a generation about this copper coin – will the eventually become passé’?

Penny Quotes

As a tribute to the demise of this centuries-old coin, I’d like to look at some of the phrases that pay homage to it. Probably one of the most common phrases that most everyone knows is “A penny saved is a penny earned.” This little ditty is contributed to Benjamin Franklin and shows that saving money is hard work and is earned one penny at a time. Another of my favourites is “Find a penny, pick it up and all the day you’ll have good luck.” Were you ever told that you only had good luck if the penny you found was lying heads up? If so, did you leave the ones lying tails up lying where you found them? In my research for this article, I came across another stanza to this quote that says “Find a penny, leave it lay and you’ll have bad luck all the day.” I don’t ever remember hearing this part but maybe this is why I always felt guilty leaving those pennies laying where I found them…:-)

A couple of proverbs are attributed to the penny – let’s look at these. “A penny is a lot of money is you have not got a penny” is a Yiddish proverb. “A bad penny always comes back,” is a German proverb and I’ve heard many different meanings for this…..what is your take on its meaning?

Worthy Thoughts

Were you ever offended when someone offered you a “Penny for your thoughts?” I have always felt that my thoughts were worth a lot more than a penny but hey, that’s me. There are also a few songs that mention pennies – “Penny Lover” by Lionel Richie and “Pennies from Heaven” was sung by Johnny Burke in 1936.

“Pennies from Heaven” was also a film released in 1936 and again in 1981 but what in the world will happen once the penny is completely obliterated from thought? If our grandchildren or great-grandchildren never know of the penny’s existence, what will these phrases mean to them – or will they just cease to be?

Which now brings us to our beloved blog here – Penny Thots……will it even be meaningful years from now or will it just be phased out and become passé. I would love to hear your thoughts on this and hope you will take the time to share some of your favourite penny quotes.

Thought to Ponder

I will leave you with a comment I came across from one of my favourite authors, Barbara Kingsolver – “Few people know so clearly what they want. Most people can’t even think what to hope for when they throw a penny in a fountain.”

This is a post by Mary Cunningham.

How to Save on Groceries by Shopping Deals

Edward Antrobus — Thu, 16 May 2013 13:30:08 +0000

I previously wrote about saving on groceries by meal planning. But if you aren’t basing your menu off of available sales and coupons then you are basically giving money away. By being a savvy shopper, you can minimize your grocery bill while still eating the foods you enjoy. The key to saving money on groceries is knowing what deals to take advantage of, and which to let pass by.

Cartbuster Events

Cartbuster events are also known as mix-and-match sales. Several different brands will be available for sale and any combination of them can be used.

As food conglomerates have gotten larger, they have been able to create cross-brand sales that leave a substantial portion of the store on sale. Kraft is especially big on cartbuster events. Typically, these sales work by requiring a certain number of items to be purchased to get the sale price. A common cartbuster sale will require you to buy 10 items to save $5, or 50 cents each.

The downside is that you have to buy 10, or else everything is full price. Food companies use this tactic to get you to buy more, or to buy their brand over another. It pays to know your prices. If you switch brands on an item to get a 10th item, make sure that you are saving more with the sale than you are paying extra with the higher priced item.

10 for 10 Sales

You know what I call this one? I call it a sale. When people see “10 for $10,” they usually assume that they must buy 10 items, like in a cartbuster sale. But check the fine print. Usually, there is no requirement fora certain number of items to be purchased. Northeast chain Shop-Rite also calls this a Can-Can sale, because canned goods are the most common sale item for this type of sale.

These sales can have different dollar values as well. Maybe 10 for $5 or 10 for $15. 2 for $3 is another common one. While 10 for 10 sales don’t require that you buy identical items, usually they are similar, like canned vegetables, or soup.

Supermarket Sales Cycles

It’s well known by now among bargain shoppers that supermarkets work on 3 month cycle. When Hamburger Helper goes on sale, it will be on sale for a week and then back to full price for the next 12. Then it will go on sale again. So for those items, it makes sense to try to buy 3 months worth at once. Or arrange your menu “seasonally” so that you go heavy on the items that are on sale during that period and buy light on items that won’t be on sale again for a while.

There are two different strategies you can take with coupons with respect to sales cycles. On the one hand, you can save your coupons until the item goes on sale again. This will give you even bigger savings. Use this option for items that you buy in-cycle and can avoid or at least limit buying when it is not on sale.

The other strategy is to use the coupons in between sales. If you have an item that you can’t stock up on and can’t limit or skip when it runs out, using coupons in between sales will give you steady savings throughout the year.

Do you take advantage of cartbuster sales? What is your favorite way to save money at the supermarket?

What is Bitcoin?

Don — Wed, 15 May 2013 15:24:10 +0000

If you’ve been paying attention to the news lately, you’ve most certainly heard of the term Bitcoin being used. It’s an online currency that you can use to buy things with. I know this sounds crazy, so I am going to try my best to explain what Bitcoin is all about.

The History of Bitcoin

Bitcoin began back in 2008 by a developer as a peer-to-peer electronic payment system. The allure of Bitcoins are that they are free from central authority. In the United States, we have the Federal Reserve overseeing the money supply. With Bitcoins, you don’t have this authority. It was pre-programmed that the total number of Bitcoins will never exceed 21,000,000. Every year, fewer and fewer Bitcoins are released to the public. In roughly 2040, no more Bitcoins will be produced.

The entire process of creating Bitcoins is very technical and I will not be going into the details in this post.

There are no physical Bitcoins. They are not even on one computer, as they are a peer-to-peer system. This is much like Napster was back in the day. Bitcoins can be used as real cash. As of this writing, 1 Bitcoin is worth $90 USD.

How to Get Bitcoins

There are various ways to get your hands on Bitcoins. For starters, you can go online to a Bitcoin exchange. This works just like a currency exchange does. You hand over money and will receive virtual Bitcoins in your online wallet. There are other ways to get Bitcoins as well:

Accept them for goods and services
Find someone to trade with in a private transaction
Mine for Bitcoins (This involves solving mathematical equations and earning Bitcoins as a reward. These equations are fairly complex and as a result, “pools” have developed where multiple people join forces to solve the equations and then split the Bitcoins)

What Can I Use Bitcoins For?

You can use a Bitcoin for just about anything, assuming the buyer accepts them. There have been stories of people buying illegal drugs with Bitcoins. Because of this, there is the fear the US Government may shut down the service. It will only do so if illegal transactions are occurring; drug purchasing would fall into that category.

Should You Join In?

Before you jump into the Bitcoin craze, understand that the prices of a Bitcoin are extremely volatile. At one point they were trading at $1 BTC to $260 USD because of the issues in Cyprus and then dropped in value by almost half.

I do give credit to the creator of Bitcoin as it clearly states on the site that Bitcoins should not be used for savings. Because of the volatility of the currency and the possibility it could be outlawed, you don’t want to be overly invested in the currency.

The Biggest Issue with Bitcoin

However, the biggest issue with Bitcoins is the fact that there is a finite supply of them. If we reflect back on basic economics of supply and demand, we know that as supply decreases, demand increases. This will apply exactly to Bitcoin. As the years pass and less and less Bitcoins are produced (and eventually production stops), demand for them will increase. Because of the increase in value, many people will choose to hold onto the coins instead of spending them. This will lead to people hoarding the coins which will drive the price up even higher.

Then at one point, because the value is so high, no one new will enter into the system to buy Bitcoins. The holders won’t spend them because of their value. The result is deflation or a crash of the entire system.

Final Thots

Bitcoins are an interesting new concept in the electronic payment system world. Up until now, no real alternative currency has taken root, simply because of the barriers of entry and the regulations. I foresee Bitcoin as a pioneer, but an eventual failure. This is not to take anything away from the system. I think that it is ingenious and lays the groundwork for version 2.0 of virtual currency to expand upon Bitcoins successes and correct its failures. It will certainly be interesting to watch how it unfolds.

How To Avoid Comfort Food Eating

Miss T — Tue, 14 May 2013 10:16:04 +0000

When you’re stressed, bored or upset, do you find yourself reaching for sugary or fatty foods to help you cope? Many people – especially women – turn to food during times of emotional distress. Emotional eating may well make you feel more positive in the short term but it’s not the most positive way to react.

Why It’s Bad

Most of the time, comfort eating involves foods that are rich in fat and sugar so they’re almost definitely going to do damage to your waistline unless you’re doing enough exercise to burn off the calories. This can create a vicious circle in which you feel bad or guilty about eating comfort foods and this prompts you to eat some more to cope with these feelings.

Eating the ‘wrong’ type of foods can also lead to a spike in blood sugar levels, which may give you some energy in the short term but can lead you to ‘crash’ afterwards and make you feel worse than you did before. This can also compound the vicious cycle.

Foods that are high in fat, salt and/or sugar are well-known for being bad for your health so you could be setting yourself up for lifestyle-related conditions such as high blood pressure.

How to Stop Comfort Eating

If comfort eating is a habit that you frequently fall back on to try to make yourself feel better, it can be hard to know how to break the cycle. It can be done though, and here are some tips to help you overcome emotional eating.

Look at your reasons. Most people indulge in emotional eating for particular reasons such as when you’re stressed, bored or upset. It can be helpful to keep a diary recording when you engage in emotional eating and how you were feeling at the time so that you can spot the pattern(s) behind your indulgences.

Decide if you’re really hungry. Sometimes, you may think that you’re hungry but this may not actually be the case. Before you head for the fridge or cupboard, ask yourself whether you’re genuinely hungry or not. If your stomach isn’t actually rumbling, you may not really be hungry. If you suspect that you’re bored rather than hungry, distract yourself and see if you’re still hungry afterwards.

Tackle your stress. The stress hormone, cortisol, is thought to encourage cravings for sweet or salty foods so you may find that you want these kind of foods when you’re stressed or under pressure. If stress is a big factor behind your emotional eating, take steps to reduce your stress levels. This can include relaxation techniques such as deep breathing, meditation, yoga or getting professional help through counselling.

Do some exercise. Instead of aiming for a short-lived boost from comfort foods, get a natural high from exercise. This encourages the release of mood-boosting endorphins, which can give you the same effect but without the calories and slump in mood often associated with comfort eating.

Get enough sleep. If you’re not sleeping properly, you may find yourself snacking more to boost your energy levels.

Bin it. If all else fails, stop keeping unhealthy treats in the house. Willpower is often compromised when you’re stressed or upset so if you’re not sure whether you can resist the temptation, make sure that they’re not in your cupboards at all. That way, there’s no possibility of falling off the wagon. On a similar note, try not to do your food shopping when you’re feeling stressed or upset as you’re much more likely to stock up on unhealthy treats.

Stock up on healthy ‘treats’. If you’re still struggling to curb emotional eating, swap comfort treats for healthier alternatives such as fresh fruit or raw vegetables so that you can still snack without the downsides of high-fat, high-salt or high-sugar indulgences.

5 Ways to Help Your Kids Make Better Choices

admin — Fri, 10 May 2013 14:11:39 +0000

If there’s anything we as parents want for our children, it’s that they grow up to be happy, healthy and wise adults. Learning to manage their money, as well as their life, can be an excellent influence.

You can be that helpful influence, too. Here are five ideas:

Life is not a democracy. It’s not always fair, either. It would be wonderful – or so kids often think – if they always got their way. Unfortunately, some of those demands wouldn’t be good for them, or the family in general. You have the opportunity to spoil them when they’re young — don’t do it. It only teaches them that they can repeat the same behavior as adults.

Everyone works. You must work, in order to bring in food, transportation and a place to stay. They need to work, too, to help out with family chores. Even little children can fold towels or set the table. Besides, this is an excellent opportunity, as they grow, to teach them the skills they’ll need for succeeding on their own: laundry, cleaning, food prep, etc.

Need something? You’ll have to work for it. Kids can not only do chores for you, but the neighbors, as well. Working part-time is an excellent source of income for many teenagers, and helps fund college, as well. (Ambivalent about whether kids should work? You might find this post interesting.)

No secrets. But no unnecessary burdens, either. Kids can handle the truth that money is short, now Dad’s unemployed, or a large bill must be paid. Questions should be answered honestly, as well. But they don’t need to know every awful detail, especially about difficult issues like infidelity and divorce. That’s a hard burden for adults to carry.Why crush your children with it, as well…

A good name and reputation are priceless. ”Remember whose name you carry,” Husband would say to our daughters, as they left with friends. I was reminded of this during my dad’s funeral. A big quiet Dutchman, he left very little, except a paid-off farm, a wife who loved him…and a few tractors, still needing repairs, in the barn. But during the visitation at the funeral home, our family met literally dozens of farmers who talked about his honesty, his skill in tractor repair and his reliability. The good name my father left was worth far more than any fat bank account, and its good effects will last for generations.

We intend to carry it on. Hopefully, our girls will make the same decision.

Cindy Brick and Husband have two adult daughters, who they raised and love dearly. See more of Cindy’s work on the Penny Thots author page.

When Life Gives You Poop….Plant a Garden

admin — Thu, 09 May 2013 12:01:18 +0000

We all have to deal with difficult items now and then.

Nasty things — like leftover fish bones, crabshells or spoiled eggs.

Dear things — like a favorite pair of shoes, too stained and tattered to wear anymore. Or the body of your beloved pet.

Smelly things — like spoiled cheese, chicken manure (We’ve got plenty of that nowadays), and those nasty socks with big, unrepairable holes in the toes.

Make those things go away — plant ‘em.

A good-sized hole can hold any amount of vegetable scraps and old bones. Dig it deep — then plant squash or zucchini seeds on top, for a good source of nitrogen as the garbage decays. (I still remember reading somewhere that the “grandest grapevine in Britain” grew where a number of horses were buried some time before.) Native Americans often buried a fish in each hill of squash and corn, for better yields; in fact, this method kept the Pilgrims’ first corn harvest alive and flourishing. Also works for planters and deck pots.

Bury your beloved friend in the herb or flower garden. They’ll enrich the soil, and you’ll have a healthy, nourished plant to keep their memory evergreen. (Buck, our 14-year-old Weimaraner, rests under a thicket of sage — because he was a “sage” dog. Goonie, his companion for more than a decade, literally “brings up daisies” nearby. Somehow these silly puns are just as comforting as the memory of the animals we loved so much.)

Any kind of natural material decays and adds humus to the soil. Try lining your next raised garden bed with old newspapers, towels or t-shirts — then pile the soil on top. Keeps weeds at bay longer. Or put a sock or dishtowel in the planter first: the potting soil won’t leach out as you water the plants.

Composting is good. (A helpful guide is here.) So is manure. One warning note, though: if you use manure, spread it a few weeks before you plant — or keep it well away from the seedlings. Fresh manure can ‘burn’ new plants if it comes in contact with them.

It can only do you — and your garden — a world of good.

Cindy Brick lives and gardens at 6250 feet…she may not grow tomatoes easily, but her sage and mint look wonderful. See the Penny Thots author page for more of her posts.

Divide and Conquer

admin — Tue, 07 May 2013 11:47:57 +0000

…Plantwise, that is.

In many parts of the country, perennials are just beginning to show their green, leafy heads. Lilies; herbs like thyme and sage; daisies; lambs ears, snow in summer or dusty miller (that fuzzy green/gray fill-in stuff); iris…even rosebushes are just starting to grow. Now is the perfect time to divide them, and get double the plants for this growing season!

These iris are starting to crowd each other — a perfect time for dividing

It’s not difficult. Get a good sharp-edged trowel or shovel ready, along with a bucket or pan to put your plants in. (A pocketknife can also help.) Dig around the edge of the clump you plan to divide until it’s loosened and can be lifted out of the ground.

Find the center of the plant, then use your sharp edge to make a quick, clean cut. (Banging the plant a little, if it has a clump of roots, like iris or daylilies, also encourages the roots to separate.) Pull or cut the plant apart into 2-4 sections; plant one back in the original hole. (Add a little fertilizer or compost. Soothing words also help.) Your ‘new’ plants are now ready for their new home. (Warning note: it’s said that iris will not bloom that season if you disturb their roots early. I’ve done it – and seen plenty of iris. But if you’re not sure, wait to separate them until after they’re done flowering. Better yet, try it both ways, and see what you prefer.)

Give daylilies like this a chance to ‘breathe’ by separating them

Bulb plants, like daffodils, tulips, hyacinths (especially grape hyacinths) have often produced additional bulbs — they can be dug up and separated after the plants have bloomed. (Make a note on the calendar about June 1.) Add a little bonemeal and fertilizer in the planting hole to give them a boost.

Another way to ‘make more:’ take cuttings of your favorite plants. Roses, lavender and other woody-stemmed plants do well with this method. Take a clean twig with at least one set of leaves on it, dip in rooting hormone powder, then gently push into a pot of soil or sand. Pull a plastic bag over, to keep the cutting moist. Check occasionally and water as needed. Some cuttings won’t root. (I’ve had about 33% success.) But the ones that do will start putting out new growth. Set them out (with fertilizer, naturally) past frost, when the ground is warm.

Some plants, like geraniums and petunias, will root if you place the cuttings in a jar of water. In a few weeks, when the roots form, plant them in an enriched mixture of potting soil and fertilizer. Put out after the frost date. (I’ve literally filled a long stone planter this way, beginning with a hanging planter of geraniums a friend was going to throw out.)

Then sit back and enjoy your newly-expanded garden.

Cindy Brick gardens in ‘high desert’ Colorado, with high altitude and little water — perfect for daylilies and green beans. See more of her posts on the Penny Thots author page.

Amazon.com Widgets

3 Big Money Mistakes

admin — Mon, 06 May 2013 11:47:18 +0000

There are all sorts of bad money moves we make. Here are three big ones that many people make today. If you find yourself making these mistakes, do your best to correct them sooner rather than later.

Chasing Yields

Certificates of Deposits and savings accounts are yielding squat today. I remember back in the early 2000’s when I was getting 5% from my online bank for my savings account. Now I’m excited if I see 1%. Since I am young, the low interest rates don’t affect me too much when compared with senior citizens who many rely on bond interest and certificates of deposit interest to supplement their incomes.

Because of the low yields, many investors are chasing higher yields. You see ads in magazines and newspapers all of the time and on TV and radio ads as well. In most cases the advertisement doesn’t correctly mention the risks involved with the higher yields. When it comes to investing, you always have to remember that the higher the return (yield) the higher the risk.

If everyone is offering you products that yield 2% and someone comes out of nowhere offering 6%, the alert that something is wrong should be going off in your head. You need to figure out how much risk you would be assuming if you invested in that product. Don’t let the salesman try to convince you that there is little to no risk, because there is a lot of risk.

In fact, the Securities and Exchange Commission has warned about the huge increase in phony high-yield investments recently. Again, remember that a higher return means you are taking on more risk of possibly losing money.

Going into Debt to Send Kids to College

You want the best for your children. Maybe you never went to college so you want to make certain that your kids have that opportunity. The reality is that they do have that opportunity, regardless if you go into tens of thousands of dollars’ worth of debt to fund it or not. Make certain your child understands how much certain schools cost and how much you can afford. Then explain to them how much money they will have to repay if they take out loans in order to afford the high priced school.

Starting out at a community college for two years and then transferring to a four year school is a great option that doesn’t cost an arm and a leg. Another option is to apply for all of the financial aid you can get along with grants and scholarships.

It is important to save for your child’s education, but make sure you are taking care of yourself first. There are no loans for retirement. And if you think that you will just live poor, think again. In most cases, your now adult child will step in and assist you. So if money is tight for them, you just made it tighter by going into so much debt to send them off to college. Going to college is important, but not so much so that you ruin your financial life over.

Taking Social Security Early

I have many years to go until I can collect Social Security. But when I do, I am going to try to put off taking it as long as possible (that is assuming it is still around!). The reason is because the longer you delay taking it, the higher your monthly check is going to be. Likewise, the earlier you take it, the less your monthly check is.

When Social Security was introduced, it was to help you financially for the few years you had in retirement. Fast forward to today, and we are living well into our 80’s and 90’s. This means you are going to need more money for a longer period of time because you will be in retirement for a longer time. You certainly don’t want to run out of money when you are 75.

But by taking Social Security early, you run that risk. When you factor inflation into the equation, your monthly check that covers the bills now might not cover them in 5-10 years. Delaying Social Security helps reduce the chances of you running out of money as you age into your 80’s and 90’s.

Final Thots

These are just a few mistakes that people make with their money. Do you make any of them? If so, make sure you correct them as soon as possible so you can have a stronger financial foundation.

Readers, what other mistakes do people make with their money?

This post is from Don at Money Smart Guides who can help you from making too many money mistakes. Check out his blog.

Waiting for What You Want

admin — Fri, 03 May 2013 12:00:50 +0000

You need - no, let’s face it, you WANT - a new car. (After all, your current one is getting old, too many miles, needs repairs, is getting rusty, etc etc etc.)

Or tickets to the next Prince concert. (They start at $250 this summer in Denver!)

Or clothes…plus a stop at that interesting new restaurant, on the way to shop for clothes.

Or a vacation – Aruba, Albania, anywhere that isn’t here. Plus new suitcases, maybe a cruise thrown in…and oh yes, those clothes.

Want to get the most out of it, at the least amount possible?

Wait.

Sure, you can go out and buy a new car this weekend: emphasis on the word “can.” But will you get the best deal? Probably not. For one thing, you haven’t done any research yet. What’s the best vehicle for your needs? How much mileage can you get? (With gas prices mostly edging up, this is always important.) Most of all, what can you really afford? Don’t listen to the salesman — he or she isn’t going to pay that bill every month. You are.

How much better to start looking now…at the dealer’s or online. Ye olde Craigslist is a good place to start for the latter. (You’ll find helpful info here for rating and pricing.) Don’t miss out on local opportunities — perhaps someone in your Zumba class or church group wants to sell. (Husband works for the school district, which offers an employees-only marketplace. Do you have a similar digest for your job…or school.)

It may take a while — months, even. You might have to do just enough repairs on the old car to keep it going while you’re searching. But eventually you’ll find the right car, at the right price. (Don’t forget to haggle, while you’re at it.) And you will save.

Now on to the rest of your “wants.” Which store will give you the best price on clothing or household items? (Don’t forget online sale websites like Fab, who offer high-style clothing and unusual items at pennypinching prices.) Can you find a coupon – especially a coupon you can use during a sale? (Our local Kohl’s department store is famous for offering this.)

Do you have access to a higher-end area? Check their thrift shops: often you can find higher quality designer items there for very low prices. What about discount shops like Marshall’s, Tuesday Morning or Loehmann’s? J.C. Penney’s is offering a surprising amount of stylish looks right now under the “jcp” label.

Take your time. Don’t forget to check the clearance rack. And by all means, you should have a coupon for the restaurant you stop at. (Or choose the special, or try some of these tips.) You will save.

If you take this approach not only for needs, but luxuries, you often will find higher-end items at a discount. The trick is being patient, while others grab and pay higher prices. Take your time. (Well, maybe not if you love Prince — he’s only going to be in town for one night around here.) Check your options.

Then… pounce. And don’t forget to brag about that great bargain you just snagged.

Cindy Brick lives and blogs in Castle Rock, CO; see more of her work on the Penny Thots author page.

Enjoying a Responsible Gaming Environment

admin — Thu, 02 May 2013 16:46:23 +0000

Online casinos provide a vehicle through which people can enjoy casino gaming right from their own home. When someone joins an online casino, they expect to be treated in a fair manner. While many casino sites found online are reputable and safe sites, sadly there are some that are not. There is no governing body that regulates the online casino industry. However, there are certain independent bodies that have been formed in order to keep tabs on online casinos.

An example of one of these bodies would be eCOGRA. This entity provides certificate of approval to the online casinos that meet certain criteria. These include appropriate customer support, fair marketing practices, 100% random games and legitimate payout systems. Any online casino passing all of the stated criteria obtains eCOGRA’s “Play it Safe” seal. When looking for an online casino, any site that has attained this qualification can be considered a reputable site which will provide players with a responsible gaming environment. Another benefit of an online casino have this seal is that the agency can also provide arbitration services in the event a dispute arises between the player and the endorsed casino.

After you’ve determined a site with the eCOGRA’s endorsement, then you are ready to sign up with the casino and start playing. If you’re new to the world of casino gaming, then slots machines may be a good place to start. Slot machines come in a variety of monetary denominations which means that you can wager small amounts of money if you’re just learning the ropes. These casino games are easy to operate and simply require a button to be pressed in order to spin the reels. Most provide some sort of bonus round. However, you usually have to bet so many paylines in order to be eligible for these bonus rounds. Checking the information about the machine can help you to determine this.