Life Insurance Savings

Wednesday, June 10th, 2009

Saving money comes in all shapes and sizes; this week, I thought I’d touch upon saving money in the life insurance arena.

Now I hate those TV ads as much as the next mom–all of the fine print and the lines like, “Life insurance for just $10 per month!”  The question is, for who?  A 70-year old with heart problems?  A 21-year old firefighter?  I mean, really.  Life insurance is such a personalized thing that you can’t make these statements reasonably.

However, term insurance can be pretty inexpensive, compared to the benefits you receive.  And whether you shop it through a website or use an agent, you are going to pay the same amount.  So if you can find an agent that you trust, I would definitely do it that way.  Agents can find out how different life insurance companies treat different health situations, and save you a lot of money in the process. 

Here’s a recent example as to why:

A client of mine had been told that due to certain family history, she had no chance of getting a term policy on her own.  So she went through her employer, where the cost  increases each year.  I didn’t believe that she was un-insurable, so I asked around.  As a result, she has a new policy, costing her less than the employer’s policy, at a fixed rate.   And they gave her the healthiest rating possible!  This is going to result in a $6600 savings over the life of the policy!

So if someone tells you “no”, you can’t get a better policy, seek a second opinion from an experienced insurance agent.  It could literally save you thousands of dollars.

Copyright 2008-2009 Kristin Delfau, author of Turbo-Mom's Guide to Saving Money Without Wasting Time a womens' personal finance book, and Aji Publishing.

Tags: big stuff, life insurance, saving money
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“Redoing” a Kitchen Without Spending Anything

Sunday, May 31st, 2009

Sorry for the lack of posting the past couple of weeks–being in France visiting with family made it tricky to fit everything in.   However, we are now home and I am back to blogging!

Spending almost a month with my in-laws and away from home allowed me to reflect a bit on how we manage our household.  When I see a system or product or idea that works for someone else, I am always trying to figure out if it can work for us as well.

In this case, it was a kitchen makeover.  Now, our kitchen was cluttered, but not over the top.  But the junk drawer started to have problems closing and I often felt like I was searching for things in the middle of a meal.

In contrast, my mother-in-law has the most organized kitchen I have ever seen, but without being OCD about it.  Everything has its place, which makes for cleaner countertops and a more relaxed state of being.

So, after we got home and unpacked the suitcases, my husband and I spent our Saturday putting our kitchen in order.  It took us the better part of the morning, but it was a free makeover!  Here’s what we did:

• Putting like with like. We had drinking glasses in 4 different cabinets.  Instead, we rearranged the organization so we are down to 2 cabinets on 2 different shelves.  And those college-years shot glasses were stored away instead of cluttering up the wine glasses. We also washed a bunch of glasses because being in cabinets and not being used can make them icky.
• Tossing stuff previously we couldn’t part with. Like the old pasta pot from my husband’s first apartment with a broken handle and a leak when the water went past the handle level.  And the old Brita filter water pot that hadn’t been used in years.  Tupperware lids that had no mates.  All of these things take space.  Of course, whatever we could throw in the recycling bin, we did.
• Re-purposing kitchen items.Our fridge/freezer with ice maker also came with a plastic dish for holding extra ice cubes.  Instead of continuing as a empty space taker in the cabinet, it is now holding rubber gloves and dishwashing soap under the sink.  Ditto for Tupperware bottoms with missing lids; they are now holding sippy cups and lids.
• Ditching the dish rack. This was harder for me than my husband.  But in the end, we tossed it.  Instead, we place hand-washed dishes on a large dish towel, which makes us put them away faster.  And when we are finished, the dish towel either hangs out to dry or goes in the washer.  No more grody water lingering at the bottom of the dish rack.  And a whole lot more counter space!

When I look at our kitchen now, it is almost the kitchen of someone who just moved in.  I quite like the “new” feel–without spending anything but a few hours doing it!

Copyright 2008-2009 Kristin Delfau, author of Turbo-Mom's Guide to Saving Money Without Wasting Time a womens' personal finance book, and Aji Publishing.

Tags: clutter, home decorating, home improvement, organizing, remodeling
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Prescription Sunglasses at a Reasonable Price?

Tuesday, May 12th, 2009

Since summer is theoretically on its way, I thought I would talk about the wallet-draining experience that is purchasing prescription sunglasses.

My husband hated wearing contact lenses.  He wore them for all of 2 days.  Since he drives a fair distance to get to work, he needed prescription sunglasses so he wasn’t reduced to wearing the stylish “over the glasses” wraparounds favored by certain retirees.  But when we went to the optical store, there were two problems:

1. They were horribly expensive, even without his astigmatism correction factored in and

2. No one was willing to try putting his prescription in a wrap around-style frame that he wanted so that he could also play sports/ski with them.

So, as usual, I went online and found an excellent vendor: http://www.heavyglare.com/ Also known as Sun Ray Optical and based out of St. Paul, MN, these folks specialize in prescription sunglasses at a reasonable price.  His last pair (after he lost the first pair) cost $170, including lenses and a frame he actually liked.  Which, in the world of brand-name prescription sunglasses, is quite a good deal. 

We’ve been working with these folks now for several years and I have only had good experiences with them.  www.heavyglare.com has around 90 brands to choose from, including names like Ray Ban, Bolle, and Arnette.  They also do goggles.  And since I am usually the one dealing with customer service when there is a problem in the Delfau household, I can tell you their customer service is excellent.  At this time last year, they even offered to send my husband’s new sunglasses to France since we would be here visiting family when they would be ready to ship.  I was quite impressed!

And, of course, prescription sunglasses are reimbursable through your FSA and HSA, if you have one of these accounts!

Copyright 2008-2009 Kristin Delfau, author of Turbo-Mom's Guide to Saving Money Without Wasting Time a womens' personal finance book, and Aji Publishing.

Tags: health insurance, prescriptions, sunglasses
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Long Haul Traveling

Tuesday, May 5th, 2009

Sorr that it took me a bit longer to write than expected since Nicolas and I were preparing to travel to France to visit my in-laws.  When getting ready for our trip, I wanted to share some great money and time saving tips that I thought you’d appreciate:

• When packing, use those Space Bags (www.spacebag.com) to arrange your clothes.  It compresses them so that you can fit a lot more in your suitcase–this is particularly helpful if you are traveling in winter with a bunch of bulky, space-taking sweaters. But just be careful that you don’t go over your airline’s weight limitations if you are flying!
• If you are flying with a child that requires a car seat on the plane, check out Go-Go Kidz’s Car Seat Travel carrier.  It is basically a wheeled cart that you attach any car seat to and then pull your child through the airport with and check the stroller at the gate.  It takes the misery of dragging a car seat around the airport–which I’ve done and can attest that it is not fun at all.  This accessory doesn’t come cheap, (the best price I found was at www.happymothers.com for about $75 including shipping) but is worth every penny if you end up in this situation.
• Bring new toys your child has never seen on the plane with you.  The days of “getting your wings” and special treatment on airlines is long gone–heck, even the free drinks on many international flights are finished too!  Save as much space in your carry-on bag for said toys, because you will need them!  I started to panic when our flight was delayed for 1 1/2 hours–half of it after we were already on the plane!  We went through 2 books, crayons and a coloring book, a Thomas Color-Forms set and Aquadoodle before take-off.  Thankfully Nicolas fell asleep before we ran through all of his snacks as well.  (My discerning child did not like the airplane food and I’ve learned that kids’ meals aren’t an option.)
• If traveling overseas, use your credit or debit cards as infrequently as possible.  Yes, I know carrying cash for some folks is painful and makes them nervous about getting pickpocketed.  However, the lousy exchange rates coupled with the hefty transaction fees levied by your credit card company are nothing short of breathtaking–particularly if you make a bunch of small purchases. And if you are going to be in another country for an extended period of time (or have children doing a foreign exchange), find out if your bank or a bank in your area has branches or agreements with local banks in the host country.  Then open an account there while still in the U.S. and save yourself both fees and hassles.

If anyone has any other tips to add, please do share!

Copyright 2008-2009 Kristin Delfau, author of Turbo-Mom's Guide to Saving Money Without Wasting Time a womens' personal finance book, and Aji Publishing.

Tags: credit cards, travel
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When AAA is more than just towing your car

Tuesday, April 28th, 2009

Hello from a toasty day in Connecticut!  Since we had visitors last week (or was it the week before? I am losing track), I thought I would share with you some AAA savings that we’ve used while they were visiting…

Our friends came to visit us from overseas and they have a particular affection for Six Flags New England.  So instead of paying face value for the tickets, we go to our local AAA office and buy them there–for almost 40% off!  Usually, the day pass is $41, but at AAA, they are $26.  And they have a discount on parking as well.  All told, our group of 6 (Nicolas is free because he is under 2) saved $97 on park entrance and parking fees! 

Again, I am not a big membership person (note my lack of Costco member status), but even though AAA can seem expensive, I have found them to be worthwhile.  There have been times that my car battery died in our driveway after my husband left for work (thanks to me leaving the interior light on overnight) and AAA had someone out to jump the car within 15 minutes. 

Also, I believe I’ve mentioned this before but it bears repeating: if you have lost your prescription coverage at work, lost your health insurance all together, have a medication that isn’t on Walmart’s generic list, etc., get your AAA prescription discount card.  It’s free with membership and it just might save you a few bucks.  And the prescription card works for pet meds as well–as long as the medication can also be taken by humans.  So things like insulin, heart meds, etc. all qualify!

Copyright 2008-2009 Kristin Delfau, author of Turbo-Mom's Guide to Saving Money Without Wasting Time a womens' personal finance book, and Aji Publishing.

Tags: aaa, discounts, health insurance, prescriptions, saving money
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What the heck is Open Source?

Monday, April 20th, 2009

A few years ago, I was introduced to the concept of Open Source software, that is software that is non-proprietary and in other words, free.  In the world of Open Source, you have simplified, user-friendly versions of the Microsoft Office suite (i.e. Open Office) as well as pretty much anything else you can imagine.  Mozilla Firefox is a great example of Open Source software that works very well.

If you like this concept, are a tiny bit computer savvy and are tired of paying through the nose for various types of software, Open Source might be the way to go.  To get you started, here are two great Open Source sites:

Open Source As Alternative: www.osalt.com  This site will help you find Open Source alternative to your favorite proprietary programs.

For Windows users, there is also: www.opensourcewindows.org. 

Finally, definitely check out www.cnet.com.  They have a giant proprietary and non-proprietary download database plus user reviews that are extremely helpful–which is where I learned about my favorite encryption software, TrueCrypt.

Because of the nature of my work, I need to have my data and backup sources encrypted at all times.  And encryption software and support can be expensive, time consuming, and not to mention scary if you don’t install it correctly.

After carefully reading through the TrueCrypt instructions, and following them step-by-step, I found it quite easy to use.  If you have a need for this type of software, check it out on www.truecrypt.org.  It works with Windows, Mac & Linux.

Have a great week!

Copyright 2008-2009 Kristin Delfau, author of Turbo-Mom's Guide to Saving Money Without Wasting Time a womens' personal finance book, and Aji Publishing.

Tags: downloads, free stuff, open source, software, top 10
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Traveling on the cheap

Tuesday, April 14th, 2009

hello all! Now that tax season is winding down, my brain will start to function more normally shortly! And with springtime technically in full swing, a lot of folks start thinking about planning summer vacations…so I thought I would talk about 2 of my favorite websites for saving money and headaches!

First off is www.travelzoo.com. Sign up for their Top 20 deals and get an email once a week of excellent deals for domestic hotels, domestic & international flights as well as shows & events all over the country. If you are the kind of family who ends up last minute planning your vacations because of work, school/sports commitments, this is the site for you.

Once you find a deal, but before you book, I encourage you to check out www.tripadvisor.com. This site has saved us from many a headache and disappointment from booking what we thought would be “good” hotels. TripAdvisor is a website where regular people write review about their vacations, hotels, etc. and some even post photos so you can see what places really look like, not what their brochures have to say!

Have to be short since we are having visitors from overseas this week and the house needs a major clean-up. If anyone else can chime in with favorite travel websites, please do so!

Copyright 2008-2009 Kristin Delfau, author of Turbo-Mom's Guide to Saving Money Without Wasting Time a womens' personal finance book, and Aji Publishing.

Tags: hotels, saving money, travel
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Boring (but Necessary) stuff

Tuesday, April 7th, 2009

This is probably going to be a shorter post today because we are at the height of tax season and I am up to my eyeballs in tax return work!

However, here is a non-tax related but important item for Turbo-Moms everywhere. Tax time is also a good time to get thinking about other information that we need to get in order, such as life insurance policies, wills and such.

Here’s why:

• Have you had another child or 2 since you took out that term life insurance policy? Be sure to contact your agent and get a “change of beneficiary” form and add your newest family members to the policy. 
• Do you have a will?  If not, there are all sorts of programs out there to help you along with the process.  The best deal I’ve found is the Family Lawyer software package offered by Broderbund Software (www.broderbund.com), the same company that manufactured “Print Shop” and still does.  For $20, you have a whole suite of documents, including wills, trusts, etc. as well as hundreds of other documents (example: if you need to sell your car or need to complain to someone but aren’t sure what to say).   What I recommend is drawing up your basic will using the software and then taking it to a trusted estate attorney to review it to make sure that it fits your state’s laws.
• Did you have a big refund or owe a lot this year? If so, it’s time to adjust your W-4, i.e. your tax withholding from your paycheck.  Check out www.paycheckcity.com for an easy to use calculator to help you adjust it.

Gotta get back to taxes but have a great week!

Copyright 2008-2009 Kristin Delfau, author of Turbo-Mom's Guide to Saving Money Without Wasting Time a womens' personal finance book, and Aji Publishing.

Tags: important documents, insurance, taxes
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To Refinance…or Not to Refinance

Wednesday, April 1st, 2009

Hi Everyone!

Sorry for  delay in getting these posts out on Mondays…tax season is busy and so my schedule gets shifted around  a bit!   This week, I thought I’d delve into the world of refinancing for those of you who might be curious about whether it is worth it or not, given that interest rates are quite low these days.

DISCLAIMER: I am not a mortgage professional, I do not sell mortgages, and I do not get kickbacks from people or banks financing mortgages.

There has been much word out there about help available for those who are being forclosed upon or who are upside down on their mortgages (i.e. they owe more than the property is currently worth).  But what about those who have some equity?  Is there any saving grace in this economic situation for those of us who fall in this category?

Considering refinancing right now just might be a good idea.  Generally, the rule of thumb is if you can go down 1% on your mortgage interest rate (i.e. from 6% to 5%), it’s worth doing the refinance, particularly if you pay no points to get there.  It might even make sense if you can shave .75% off your mortgage, depending on your situation.

If you are planning on going this route, here are a few things to keep in mind when shopping around (because, after all, it is shopping!)

• Bankrate.com and lendingtree.com are not the be-all and end-all of mortgage comparisons. Yes, both sites can be useful as a starting point, but I would really encourage you to also take a look at your local banks to see what they have on offer.  In our area, I have found that the local banks are offering better rates, clearer explanation of (and lower) closing costs, and have a more friendly, personable attitude toward the mortgage process.   Two local banks in my area that I have found to be great are Webster Bank & Savings Bank of Danbury.   Webster Bank has an added incentive for customers who have both their mortgage and a bank account w/ them–they shave an extra 1/4% off your mortgage if you have the payment direct debited!  That is a great deal.
• Shop around for attorney fees.  If your state requires an attorney at closing for your refinance, get recommendations from your mortgage person and call around.  The fees can vary widely for a generally straightforward process.  So unless you know a particular attorney is really lousy, spending a lot on an attorney is not really necessary.  Also, if you live in a town where attorney fees are high because of your zip code, call up some attorneys a couple of towns over and price shop that way.  This approach also works for plumbers and electricians!
• Don’t be afraid to negotiate and play the banks off of each other.  If you are uncomfortable with this, read (or re-read) the “Ask Ask Ask” chapter of Turbo-Mom’s Guide to build up your courage.  After all, the worst that could happen is that someone tells you “no”.  And so what?  It wasn’t meant to be.
• Try to shave years off your mortgage in the refi if you can.  I have come to a “meeting of the minds” with Dave Ramsey’s approach.  Getting rid of your debt sooner rather than later (including your mortgage) is a healthy thing.  Yes, if you pay off your mortgage you lose that tax deduction.  But on the flip side, you have that much more income in your pocket–and you are saving yourself a boatload of interest!

Any good mortgage (or refi) stories/tips are welcome!

Copyright 2008-2009 Kristin Delfau, author of Turbo-Mom's Guide to Saving Money Without Wasting Time a womens' personal finance book, and Aji Publishing.

Tags: mortgages, refinancing, saving money
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Guilt-Free Shopping

Wednesday, March 25th, 2009

Hi Everyone! Sorry for the posting delay…tax season makes it a bit crazy for me!

A special hello to all of the new visitors coming from the Blog Party at 5minutesformom!

So what is guilt-free shopping? It’s when you buy something and you know you can afford it because there is money in the bank to pay for it!  In our house, we stick to a debit/cash payment style 95% of the time.  The only time we use a credit card is when making an online purchase for something like airfare, where we don’t find it to be a good idea to put our debit card number out on the web, even if it does have a Visa logo on it. 

But what happens when you are not in guilt-free shopping mode?  What if there are credit card bills piling up?  Where do you start to undo them?

The lousy part of this economy is that it brings out the vultures in our society–those who prey on people suffering.  Those who say they can “fix” your credit if you just pay them $500 or $1000  and they will get everything fixed for you.  Or they tell you you can “just declare bankruptcy” and that will work.  And then when it doesn’t work out you feel double-ripped off and helpless.

If you or someone you know is having problems managing their debt, there is a legit non-profit out there to help.   Try www.debtadvice.org.  This is the website for the National Foundation for Credit Counseling, a branch of Consumer Credit Counseling Services (www.cccsinc.org).  With these folks, you have the opportunity to work with a trained, certified NFCC counselor.  And you can achieve for free or very little cost what these debt settlement companies may charge thousands of dollars for. 

I actually called these folks and interviewed one of their staff members for my book and asked every question I could think of to determine their legitimacy and understand how they work to make sure I wasn’t recommending a group that would rip off my readers.  These are good folks that can get you on the right track when you are ready to take control of your debt.  Then it is 100% guilt-free shopping!

Copyright 2008-2009 Kristin Delfau, author of Turbo-Mom's Guide to Saving Money Without Wasting Time a womens' personal finance book, and Aji Publishing.

Tags: credit cards, debt, free stuff, guilt-free shopping, saving money
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