DIY Life

While we are not TECHNICALLY in a recession (A friend pointed out that the definition of recession requires 2 quarters in a row of declining GDP) we are definitely in economic doldrums.

We have had four quarters of definitely sub par growth as a nation, the housing bubble has definitely burst, and more and more companies are looking to trim any fat they can.

Economically unstable areas already hit hard by the economic down turn now have even more bad news headed their way. One of the staples of these areas has always been self reliance, and the entry of big box home improvement stores into unstable areas has been a boon to these areas in terms of jobs and the ability to find cheap materials to do their projects. This is about to change for the worse. Especially for states east of the Mississippi.

My local moms' group is in the middle of a community service project right now -- raising money to buy backpacks and school supplies for students whose families need a little financial help. One of the ways we are doing this is through bake sales.

We have a good, active group of women who have really come together to share ideas, and now you can benefit from what we've learned about how to have a successful bake sale.

Look for events / locations where there are already lots of hungry people.
Some of our ideas are: at T-Ball and soccer games, at the local concerts in the park, and in front of a local grocery market. Always check with your town to see if permits are required for set-up.

OK, this is a trick that I used to use when I was really, really poor. You know how it is; your bar of soap gets so small that it's really hard to use? Or if you happen to use Ivory, it always seems to break into unusable chunks prematurely?

Well, here's a solution. I salvaged one of my old cotton socks. Whenever a bar of soap got into one of the afore mentioned conditions, I would pop the chunks or slivers into the sock. In fact, I would do it early. Once the sock had a decent content, I would wash with it.

It seemed to be a great solution because it turned out to be soap and washcloth all in one. Of course, if you're handy with a needle and thread, you could grind out something a little more elegant. I probably would have, but hey, I was just a wild young bachelor!

Yesterday, I put $20 worth of gas into my car. I can remember the day when that would have filled it up, but instead it gave me just over 5.5 gallons. Gas prices are definitely at a high point, and it's predicted they could rise further by summer.

Though you can save money at the pump by reducing the number of miles you drive, sometimes it's impossible to cut back enough to make a difference. You can, however, save a few bucks by following these few tricks from Yahoo Finance.

• Consider checking a website like GasPriceWatch.com, which is fed by tipsters but also has a Certified Pricing Program. (Driving all over town looking for low prices, however, will burn any pennies you save. Look for a station near where you'll be anyway on your daily travels.)
• Fill up at low peak times when prices are likely to be their lowest -- before sunrise, late at night, and -- in some states -- mid-week.
• Fill up when you hit 1/4 tank. Make sure the price on the sign matches the one on the pump and that it's set to zero when you begin fueling.
• Investigate ways to improve your gas mileage.
• Take good care of your car. Check your tire pressure regularly and unload seasonal items such as snow tires.
• Though many financial experts don't recommend using credit cards, according to Yahoo Finance, using a credit card with cash rewards can help you earn rebates when you buy gas.
  

It may not take all of the sting out of today's rapidly rising gas prices, but by planning ahead, you may be able to save a few dollars off your monthly gas bill.

I consider myself a frugal person. When it comes to buying anything new, I check my local thrift stores or shop on eBay to see if I can get the item cheaper. It seems that the only time I decide to spend too much money is when I go to the grocery store hungry.

Besides clipping coupons and going without a night on the town with my husband, I wondered what else I could do to step up my frugality. Lynnae over at beingfrugal.net asked her readers to send her their frugal tips on surviving when money is tight and dollars need to be stretched. Her readers came through in a big way, so she compiled a list of 168 frugal tips to survive a recession.

From saving money on grocery shopping, utilities, transportation, and clothing to saving money on miscellaneous necessities, Lynnae breaks down the great tips her readers have offered into nine categories. While not all the tips are feasible for everyone, there certainly are tips that everyone will be able to utilize.

[via: Curbly]

Whenever I travel I spend hours watching HGTV in my hotel room. It is a guilty pleasure because I don't have television service at home. In case you're like me and don't always spend hours watching home improvement networks you might not know about the Troy-Bilt Love-Your-Yard sweepstakes.

The winner receives $3,000 in cash to implement Justin Cave's personal plan for your yard. The winner will also receive a riding mower, push mower, tiller, and string trimmer that converts to an edger, leaf blower, and hedge trimmer.

You can enter once per day and the contest closes on May 25, 2008.

I love this site: Get Rich Slowly. It's chock full of ideas that ordinary folk can relate to. Ideas to help you pay your bills, and also sock money away for future needs. Therefore, Get Rich Slowly blogger J.D. thinks it's bit of a waste to spend almost $70--yes: seventy hard-earned dollars--on budgeting guru Suze Orman's Ultimate Protection Portfolio.

The UPP is currently on backorder at The Suze Shop and priced a bit lower--at $58.74. Yet that's $58.74 (plus shipping) you're spending on what is basically an expertly-marketed expanding file! That's why J.D. recommends a low-budget DIY alternative. By assembling the components yourself, you'll save a bundle of cash, yet still enjoy the benefits of having all your important life and money-related documents in one, secure kit. This includes bank account information, your will, birth certificates, passport, and so on.

Thanks to the wonderful Lifehacker for putting me onto this tip!

OK, as we all know the economy is in a downward spiral. The housing market is so far down the drain you can't even get at it with a plunger. The dollar has fallen farther and faster than Elliot Spitzer's trousers at a gentleman's club.

The only thing rising is gas prices. (Think mushroom cloud here) As a result we are all scrambling to find new and exciting ways to pinch pennies hard enough to make Abe Lincoln cry.

I used to do a lot of work on my previous car myself to save some money back in the day. When my wife and I purchased our '05 Touareg from VW I decided that with the new car, vast jumps forward in technology, and our economic stability, I would let the dealership deal with all the issues that arose. As economic fortunes have turned I have decided to start doing some easier things myself. Ooops...

We have all seen LEDs become more and more prevalent in our daily lives. They are as common as traffic signals in major cities (after the whole energy rate fiasco a few years ago) and power indicators on most items. They are also as frivolous as LED hats to support your favorite team.

Manufacturers and retailers are starting to see the future in LED items as well, as they realize that a lot of people are looking to save energy. People want to support being "greener," sure, but they also want to keep a few more dollars and cents in their bank accounts.

Here are a few items I have come across that demonstrate how LED products will continue to make inroads in new categories of retail.

Ah, Spring: the time of year when flowers bloom, bunnies hop, and the sound of dozens of "For Sale" signs being hammered into the ground echoes throughout every neighborhood. While you can go house-hunting at any time of year, Spring is the season traditionally associated with buying or selling a house.

But home purchasing is full of potential pitfalls: what should you look for? How do you protect yourself and your family from shady sellers and predatory lenders? Who's the best inspector for the job? Do you even like the neighborhood? And what does a Realtor mean when they say "cozy," anyway?

All these questions (except maybe that last one), and many more, are addressed in a fantastic Ask Metafilter thread: Chunks of homebuying wisdom from The Hive Mind. Dozens of people weighed in with what they know -- and what they wish they had known -- about buying a house for the first time. It's invaluable reading for anyone who is in the market for a new residence, or just thinking about it.

[via Not Martha, a little while ago.]

Sometimes we choose DIY for the love of DIY, but other times it's for the monetary savings. Doing a project yourself, getting exactly what you want, and not paying through the roof makes DIY projects appealing to so many of us. Labor costs account for half (sometimes more) of construction costs. Doing work yourself can be your biggest savings, but only if you really know what you're doing, or have the time to learn. First, go through this quick checklist and figure out if you should do it yourself or not. If you do decide to take it on, this list of money saving tips will help you get the most for your dollar and the best end result.

The article suggests setting priorities and re-evaluating the scale of improvements. They offer tips on choosing which improvement will yield the greatest return, and suggest ways to obtain moderately priced materials instead of higher end expensive ones. They also warn what corners not to cut. Saving money is great, but not at the expense of safety, or quality. There are ways to do it well without re-mortgaging your home. With 10 tips in all, finishing with the DIY option, you'll find great pointers on how to save money on your home improvement projects. Check them out and let me know what you think is missing. How else do you save money with home improvement projects?

I'm a sucker for contests. RentalHQ.com is running a $1,000 Do-It-Yourself with Rental Equipment Sweepstakes until June 30, 2008. Part of the entry is explaining what your next DIY project will be and since the official rules state "The winner will be determined at the discretion of ARA" it is a good bet that they are looking for some good answers. If you had $1,000 in extra money what project would you put it toward?

You can enter once a day and the contest is open to residents of the United States and Canada. Read the full rules on the contest entry page for more details.

For (insert event here, such as Christmas), you received gift cards for books, electronics, coffee shops, etc., and while you did use most of them, you are still wondering what to do with the other 50 cards you were lucky enough to receive, right? Whatever you do, don't throw them away, cause remember; one man's trash is another man's treasure!

Wisebread has a wonderful article telling us what to do with our accumulated, unwanted gift cards that we know we will never use. Gift your unwanted cards to people that you know can use them. You can sell them online or donate them to charitable organizations.

I try to use the gift cards I receive right away, but I must admit that I still carry cards from years ago that I know are no longer valid. For that time period, I only keep them for sentimental value, otherwise I was just throwing my unwanted cards away. Leave us a comment, and let us know what you do with your unwanted gift cards.

It's that time again -- time for many of us to start considering when and how we'll prepare our taxes for 2007. If you have a small business that you run out of your home -- like babysitting, writing or even a cleaning franchise, you should know about all the tax breaks and deductions you are entitled to. that is, if you prepare your own taxes with the help of software like Intuit's TurboTax.

Taking every legal deduction you can is standard practice for those that own a small business or are self-employed. Expenses, home office deductions and receipt tracking are just the minimum requirements for really getting the most benefit from taxation procedures in the U.S. Do you know about these deductions, for example?

If you want to take control of your personal financial situation, you probably set some of your New Year's resolutions to the tune of 1) saving more money, 2) investing more wisely or 3) creating a household budget that tracks every penny in and out of your household. After taking a survey of some relatives this past Christmas, I was amazed to find that many consider balancing their checkbook to be keeping up with a 'budget.' Wrong, oh so wrong.

If you really have the will to take control of your finances, and have written your financial resolutions down somewhere, how are you going to start? How are you going to measure success? What will be your milestones, and will they happen every month or quarter? Things like these are requirements for succeeding in being rich over time.