SavvySugar

Savvy Savings Challenge: What Readers Are Giving Up

SavvySugar — Fri, 19 Feb 2010 04:00:07 -0800

We've kicked off a 40-day Savvy Savings Challenge in the SavvySugar Community with the hopes of helping one another make smarter choices and build our piggy banks. I've committed to forgo all unnecessary spending - most notably I won't be driving to work for convenience or clothes shopping - for all of Lent. I've invited you all to join in the savings group and make your own sacrifices and am thrilled by your dedication and goals! What indulgences are fellow Sugar friends giving up in an effort to save a bundle and improve their lives in meaningful ways?

HannahNicole is giving up her delicious, but pricey fro-yo addiction.
lmwilliams2009 won't be logging on to Facebook for a while.
Lauren is giving up the latte.
a1stbornunicorn is also staying out of Starbucks.
Angelica is going to attempt brown bagging it for 40 days.
PartySugar hopes to rid herself of negative thoughts.

It's never too late to start saving! Cheer on the savers by leaving comments on their challenge posts and jump on our budget and mood boosting effort and cut your most harmful and indulgent habits for the next 40 days! Join the Savvy Savings Challenge and share what you plan, then update the group daily or weekly with your pitfalls and success stories. The community and I will be your personal finance trainers!

Savvy Links: 'Charlie Brown' Christmas Tree Is a Money-Saver

SavvySugar — Thu, 03 Dec 2009 06:00:30 -0800

'Charlie Brown' Christmas trees a stylish way to save money. - Walletpop
Which of these over-the-top stunts would you try to save a few bucks? - Glamour
A new way to make purchases via iPhone - Would you use it? - GeekSugar
5 Little-known websites that will save you time and money when booking airfare online. - Get Rich Slowly
Where to go for holiday help on the web. - Kiplinger

News Flash: Brown Plays Copy-Cat With Stanford's Tuition Breaks

SavvySugar — Tue, 26 Feb 2008 06:21:33 -0800

Not to be outdone by its competition on both coasts, Brown University has announced their new financial aid policies that will expand this part of their budget by 20 percent. Brown's new policy mirrors the new aid plan that Stanford announced just last week: Grants will take the place of loans for families earning under $100,000, and tuition will be waived for families making less than $60,000. Students already receiving aid will see their loans reduced no matter their families' income, and both seasoned students and new ones will benefit from the new tuition breaks. Keep em' coming, colleges!

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Did You Interview With the Top Boss?

SavvySugar — Tue, 06 Oct 2009 14:45:43 -0700

Serena further explores her decision to defer Brown to "find herself" on this week's Gossip Girl and decides to find a job to prove her seriousness to her mother. She puts on a stunning Herve Leger bandage skirt and blazer and scurries around town scoping out prospects.

In one scene, she interviews with designer Tori Birch, who was just one of the many special guests on the episode. The interaction was sweet and emphasized how under-prepared Serena is for the working world, but I couldn't help but think it's a bit far fetched to have a major designer meet with potential intern or entry-level applicant. Did you interview with the top boss or company owner when you got your job, or did you meet with a hiring manager?

Photo courtesy of The CW

Travel Tip: Before You Book, Compare Apples to Apples

SavvySugar — Wed, 26 Aug 2009 12:00:21 -0700

The fine print that's tacked onto travel offers can be confusing to say the least, but when it comes to figuring out whether or not you're getting a real deal, channel something you're very familiar with - grocery shopping. Determining the value of travel promotions is a little bit like paying attention to the unit prices on supermarket products. Put the fine print aside for a moment, and focus on the numbers.

Travel writers Suzanne Rowan Kelleher and Katrina Brown Hunt suggest comparing apples to apples to figure out whether or not a deal is actually a deal. They use the "5th Night Free Plus $100" at the Wyndham Sugar Bay in St. Thomas as an example. The duo explains, the "package rate starts at $219 a night, compared to the lowest available rate of $170 a night, which is an advanced-purchase nonrefundable rate. Even after you subtract the cost of the free night, you'd pay $876 for a five-night stay, versus the $850 you’d pay for five nights at the advanced purchase rate."

Next time you're about to book a trip, take the time to compare nightly rates at the same hotel and for the same days. You might be surprised to find more savings outside the promotional hype.

Money Tip: Designate a Day For Buying Lunch

SavvySugar — Thu, 14 May 2009 12:00:13 -0700

Munching a lunch you brought from home is one of the best ways to keep food costs down. Packing a variety of lunch foods will keep you from abandoning your brown-bag system because of boredom, and if this is already getting old, give yourself a break and designate one day a week for buying lunch.

You should only consider adopting this system if you can afford to buy one lunch each week. If so, make it a day like Wednesday when work seems to pass like molasses. My trick? I keep soup in my drawer so that I have an option if I'm not in the mood to splurge on my assigned day. That way, my lunch-out day isn't wasted.

Setting up one day for buying lunch can motivate you to bring lunch every other day, and gives you something to look forward to - a small price to pay for a little boost in your work week.

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Snip, Snip: 12 Little (and Big) Luxuries We've All Cut Back On

SavvySugar — Tue, 24 Mar 2009 09:30:24 -0700

Last week readers shared some of the pre-recession luxuries they've cut back on in the last few months, and I was somewhat relieved to learn we're all scaling back on the same things. While tightening the budget and eliminating your favorite little pleasures isn't enjoyable, there's something reassuring about knowing we're all in this together. What so-called extravagances were the first to go?

Clothes and shoes: It's clear most of you are shopping less, but that doesn't mean you have to wear the same boring threads. Spectra says she's been re-purposing her wardrobe and trying to come up with new looks without having to buy new stuff.
Spa and beauty treatments: Beauty routines have gotten a make under. Facials, mani-pedis, waxes, haircuts and colorings were among the first beauty-related luxuries to go. Many of you have taken to coloring your hair yourself, or trying less pricey alternatives. luna08 says she now visits a local cosmetology school instead of a professional salon. "Eyebrow waxes for $2, mani-pedis for $10, facials for $20. Not a luxe atmosphere, but it gets the job done!"
Take out and eating out: Making dinner at home more and brown bagging it to work is a national fad these days. It doesn't have to be all PB&J though - Smacks83 allows herself to eat out about once a week and carries cash instead of a card so she can see her spending.
Bar tabs: Who can afford the lounge mark up? Most of you say you're going out less. While your wallet may be fatter, one reader reports her waist line is decidedly slimmer from avoiding alcohol!
Coffee: Sorry, Starbucks! Most of you are making drip coffee at home these days and pouring it into a reuseable mug instead of buying your java on the go. It bodes well for the new instant Starbucks packets.

For the rest of the list, read more.

Brand names: Now is not the time for labels. One reader says she now picks up the store brand soda instead of Pepsi.
Fancy cable: Premium channels were the first to go, but many of you report you've canceled cable all together.
Transportation: More of you are hopping on the bus to save on gas and car costs.
Travel: While airlines are pumping out great deals, most of you say you've cut back on travel. pia suggests vacationing at national parks instead of going overseas.
Newspaper deliveries: A number of you say you've cut your daily newspaper deliveries and get your news online instead.
Jewelry purchases: There are plenty of ways to sparkle. GlowingMoon has stopped spending on jewelry and is using extra funds to upgrade her home instead.
Books and iTunes: Many of you say you've cut back on books and downloads. You might consider swapping media with friends by starting a book, movie and music trading club.

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Ivanka Trump Wants You to Save Money on Lunch

SavvySugar — Tue, 21 Oct 2008 04:00:17 -0700

It's difficult to imagine the always-polished Ivanka Trump packing up leftovers for lunch, but she recently blogged about sympathizing with the monotony of brown-bagging it.

With gas and food prices on the rise, more and more people are skipping the deli line and bringing lunch to work to save money. This is great, but all I hear is how boring a brown bag lunch can get and how people want something different, especially when they are stuck at their desks - something I completely relate to.

Today kicks off an advertising campaign that pairs Ivanka with ConAgra Foods to promote a new line of microwave meals called Healthy Choice Fresh Mixers. Because the meals will last up to a year without refrigeration, the company is targeting busy young office workers that may be looking for an inexpensive and healthy lunchtime solution. If you are in New York or Chicago, samples of the meals will be available today at the Grace Building on 42nd Street in New York, and 1 South Wacker Drive in Chicago.

ConAgra Vice President Michael Locascio explained the company's reasoning for selecting Ivanka as the spokesperson and said, “We wanted somebody who would appeal to a younger office worker who’s technology-savvy.” Do you think she was a smart choice considering the company is trying to promote the lines as budget-friendly?

Suze Orman Is as Famous as Elton John?

SavvySugar — Mon, 20 Oct 2008 08:00:13 -0700

For a personal finance personality, Suze Orman sure has a spotlight on her that includes a share of haters - this weekend's Saturday Night Live certainly didn't hold back in its depiction of the money matron. The past year has given Suze the opportunity to take her career to the celebrity level: According to Davie-Brown (a company that tracks the appeal of celebrities), Suze Orman is now "on par" with celebrities like Elton John and Nicollette Sheridan. It's hard to wrap my head around the idea that Suze could be as famous as Sir Elton John, and there are a lot of people out there questioning the methods she's used to get herself to this place. Find out what people are saying about her when you read more.

Suze's job is to give advice about money, but her critics observe that during the past year she's been using fear mongering tactics to benefit her stardom. She appeared on Oprah just last week and the promo for the episode (video below) gives some evidence that this could be true. On top of this general criticism, her Got Milk advertisement has raised eyebrows because of the innate conflict of a personal finance adviser starring (and being paid for) an ad that aims to sell.

Do you think Suze Orman has capitalized on public fear to promote herself? Is it wrong for someone in her position to endorse products?

Famous Talents Share Their Best Money Advice

SavvySugar — Tue, 22 Jul 2008 08:03:07 -0700

Most of the 40 people CNN Money asked about the best money advice they'd ever received have actually made their fortunes in finance - the many economics professors and investment gurus they interviewed are talented with money. There were a few names in there that are making their livings off of their skillful talents that didn't involve playing with numbers or keeping track of market trends, and I've selected those to share with you.

Bobbi Brown, Founder and CEO, Bobbi Brown Cosmetics:

I started working as a freelance makeup artist in 1980, and I worried that I didn't have enough money. My father told me I'd just have to figure out a way to make more money. So I started looking through the Yellow Pages and calling agencies, magazines, photographers - anyone I could offer my services to. I'd work for free until I proved myself. Soon enough, I was getting regular calls to do their makeup. My father's advice made me feel that I was in control of my future. I realized that it was my job to find more opportunities.

Find out what advice author Elizabeth Gilbert and the Yankee's Derek Jeter shared when you read more.

Derek Jeter, Shortstop, New York Yankees:

The best financial advice I've received is that you should always know where your money is. Even if you have someone who handles your finances for you, you should always be involved in the process. I learned this from my parents.

Elizabeth Gilbert, author of Eat, Pray, Love:

My father is the most frugal human being I've ever met. His most adamant instruction was that I should never under any circumstances go into debt. To this end, he passed along the message his own grandfather had taught him: "Borrowing money is like wetting your bed in the middle of the night. At first all you feel is warmth and release. But very, very quickly comes the awful, cold discomfort of reality."That vivid image has stuck with me forever. Even when I was a diner waitress, I wouldn't let a month go by without paying off my credit card. And this adamancy has kept me warm and dry and free my whole life.

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