SavvySugar

Would You Take an Affordable Clothing-Optional Vacation?

SavvySugar — Tue, 17 Nov 2009 06:00:09 -0800

Clothing optional situations are typically limited to behind closed doors, but not if you're venturing off on a nakation. You don't have to bare it all on nakations - that's where the optional part comes into play - though you can if you want to. Besides the fact that participating nudists say that nude recreation is fun, there might be a financial benefit to taking a trip that encourages you to don your birthday suit.

Travel writer Christopher Elliott hasn't taken a nakation, but he also isn't opposed to it. He points out that there are many deals to be had at clothing-optional resorts (which aren't seedy as some would assume, just make sure they're represented by the American Association of Nude Resorts). Aside from affordable rates, Elliott makes the reasonable suggestion that travelers can save on baggage fees by opting for a nakation.

Got a cost-saving travel tip? Join our Savvy Travel Tips group and share your expertise!

Ask Savvy: Should I Reopen My Card After Being Deep in Debt?

SavvySugar — Wed, 21 Oct 2009 12:00:36 -0700

Dear Savvy,

I've just paid off one of my credit cards that was in the Debt Management Program through a credit counseling service, which is something I'm proud of! It's nice to have accomplished that! The only issue is, I got a letter from that company offering to reopen the credit card line since I paid everything off. I'm not 100 percent sure if it'd be a wise thing to do or not, since using credit cards got me into the DMP in the first place!

The upside would be that I'd have more available credit line, which could be a good thing for my credit rating. Since I've already learned my lesson the first time around, I know what not to do this time around, which was to charge without making sure I could pay it off pretty much immediately. The credit limit would be a lot lower than what it was originally, so I wouldn't be able to charge a lot, and it is a store credit card so it'd only work only for that store, and not anywhere else.

The cons would be . . . well, my credit card usage is kind of what got me in my debt situation in the first place, and I'm not so sure if I should be opening up cards so soon. The offer is only for 30 days, as well, so after 30 days, I don't know if I'd qualify for a new credit card due to my history. Should I go ahead and accept the offer to reopen the account and "start" over and be more wise, or should I just let it go?

To see my advice, read more.
Savvy says: Congrats on paying off your credit card! It's great that you made the effort and stuck with it - and that you feel like you've learned the important lesson of spending within your means. Even though you've made great strides in managing your money, I don't think it's in your best interest to reopen the card that triggered your financial troubles.

You say that opening the card will boost the amount of available credit and therefore help your credit score, which tells me that you are the owner of at least one other credit card. Instead of trying to manipulate your score, improve your number by working on paying off other debts and keeping all accounts in good standing by paying on time. Focusing on these habits will help you much more in the long run and keep you from reentering an out-of-control credit situation.

If you need more convincing, consider that you'd be setting yourself for a potentially damaging situation if you end up maxing out your new card, even if the limit is lower than what you had before. Store credit cards are, in general, not the most desirable pieces of plastic to have in your wallet. Aside from their typically astronomical interest rate, they can feed a shopper's rationalization that she's actually saving money by shopping because of whatever points or discounts she gets through using the card.

Get this card out of your head and stay on the right track of building a solid credit score. It takes a bit of self-restraint, but you'll be much better off when you need to borrow money for something that doesn't come in a store . . . like a car or house.

Have a question for me? Ask away by posting your questions in my Ask Savvy group.

10 Simple Ways to Go Green and Save Green

SavvySugar — Wed, 21 Oct 2009 06:00:11 -0700

One of the greatest perks about being more eco-conscious, aside from saving resources and living a more sustainable life, is that doing so encourages us to cut back. Focusing on the motto of recycle, reduce and reuse can do wonders on our budgets and help save more instead of spending on things we don't need. The secret to jumping on the green bandwagon and saving more cash is simple - you just have to commit to it. Check out my guide to 10 ways you can cut back, save money and lighten your footprint.

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Want to Work Less? Try Sharing Your Job

SavvySugar — Thu, 15 Oct 2009 12:00:27 -0700

We all know that it’s important to maintain a happy work-life balance, but sometimes that’s easier said than done. Over the past decade, more and more employees, most of them women, have turned to job sharing to strike that balance. Job sharing allows you to essentially split a job (and its title, responsibilities, and salary) with another person, meaning you both work part-time.

Aside from the obvious benefits for the job-sharing employee, a job share can actually work out pretty well for employers, too. It often results in happier, more productive employees who are extremely thorough in their work. It also means better job coverage, since one job-sharing partner simply fills in while the other is sick or on vacation.

Even if your company doesn’t currently offer any shared positions, it might be open to doing so. One friend worked herself into a job share by writing up a detailed proposal for her boss and getting a partner on board with her plan ahead of time; another friend did the same with her teaching job in order to spend more time with her young kids. Is job sharing something you’d ever consider?

5 Things You Should Consider Renting

SavvySugar — Thu, 15 Oct 2009 08:30:52 -0700

Friends and neighbors can be helpful when you need to borrow something, but asking to use an expensive possession is much different than requesting a cup of sugar. Aside from avoiding stepping on questionable boundaries, renting certain items can be smarter than buying if its cost-per-use ratio isn't favorable to your budget. Your money might be better spent by renting these five things instead of purchasing them.

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Are You Already Preparing For Holiday Shopping?

SavvySugar — Thu, 01 Oct 2009 09:00:39 -0700

Usually when October hits, I'm in a panic just trying to get my Halloween costume together. But this year, as retailers start to gear up for the holiday shopping season, I'm wondering, why not follow suit?

According to recent Wal-Mart research, 70 percent of the store's customers plan to start shopping for holiday items before Halloween, so it's no wonder that the company has already announced its holiday spending incentive - a deal that offers a list of 100 toys for just $10 each. With discounts like this already available, it's starting to seem more appealing to hit the stores now and avoid the rush closer to the holidays in December. Another incentive to start thinking holiday shopping now? Setting money for gifts aside now can make a big difference in just a couple months. With cash already stored up, you're less likely to run up a major credit card bill later.

I'll admit, it takes a lot of energy and effort to start planning for your holiday shopping now, but it seems to me there's a big pay off for the early birds. What do you think? Will these incentives get you planning ahead for the holiday season?

5 Things You Must Do in October

SavvySugar — Thu, 01 Oct 2009 06:00:32 -0700

October means it's full fledged Fall and time to kick off the holiday season. There are plenty of pretty things you must have this month, but make sure to set aside some time to take stock of your goals and gear up for the end of the year before you start spending on holiday presents and travel. What should you add to your October to-do list? Today is the day to find out!

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Money Tip: Set Aside What You're Saving on Gas

SavvySugar — Wed, 26 Nov 2008 13:45:18 -0800

Gas is now going for about half of what we paid at the pump through the Summer, and the reduced cost is a welcome retreat from the strain that filling up had been causing consumers. We can hope the days of gas price-induced desperation (remember the new dad who named his baby boy after a radio show for a $100 gas card?!) are behind us, and before we go forgetting the damage gas prices did to our budgets, let's take the opportunity to do something with the extra money we're saving.

We managed to make it when our money was going into the tank instead of staying in our bank accounts, which means we might not miss at least some of that disposable income if it was out of our reach. Figure out how much you've saved in gas this month compared to what you had been spending at the height of gas prices, and apply at least part of the difference to the amount you transfer each month into your savings account. It will feel good to watch your savings grow, rather than burning your cash on the cost of fuel.

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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.

I'm Asking: What Annoyed You During Tax Time?

SavvySugar — Thu, 16 Apr 2009 08:30:38 -0700

Tax day has come and gone, yay! Now, let's get some complaining out of our taxed systems. Unless it's your job, doing taxes is probably the worst part of earning a living. Tax software can be less than intuitive, making your taxes a very time-consuming project, and if you need to chat with the IRS or your state's franchise tax board? Forget it, you need to set aside a serious chunk of your time just to wait on the phone.

Did anything happen during this tax time that made your jaw clench with annoyance?

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