Just because you make some mistakes, and end up in debt, that doesn’t mean that you have to feel poor.  In fact, there are several things you can do to make yourself not feel as though you are missing out.  Cap over at Stop Buying Crap shows us 10 simple ways to feel rich without materialistic means.

At Free Money Finance, they give their take on Yahoo’s list of 20 Reasons You’re Not Rich .  However, there is a 9 Step Economic Action Plan that you can follow over at My Dollar Plan.

And as a warning, Money Ning gives some possible credit card scams to watch out for.  And in case you do fall victim to these scams, here is some good information from Discover Debt Freedom that show you how to report identity theft properly.

By Jeffrey Cretan | MainStreet.com

With everything going on in the world- the credit crisis, election showdown, bank bailouts- Halloween has snuck up on you. But you can still throw a last minute Halloween party that won’t lighten your wallet.

While you might be short on time and money, you’re not short on effort. “It’s all about getting people together,” says Sally Strebel, CEO of BestPartyEver.com, a party planning social networking site. Here are some suggestions for planning a last minute, tight-fisted Halloween party.

Decorations
Score some basic décor from your local market to make your place look spook-tastic in no time. Fake cobwebs are easy to drape across furniture and tree branches, and can be balled up and reused every year. Strebel also suggests picking up a fake tombstone or two for the front yard. “They’re only about 20 bucks. Not as expensive as people think,” she says. Tape black cutouts up on walls, windows or any flat surface. Just grab some construction paper at any store, cut out a few bats and witches and you’ve got an instantaneously spooky scene on the walls.

“When your guests first walk in, you want to hit their five senses,” says Strebel. Download some scary sounds off the Internet for when people walk up to the door. Or turn on an Internet radio station, like Live365.com, that plays Halloween songs all night, which won’t cost you a dime. As for smell, Strebel suggests something subtle, like a pumpkin scented Yankee candle ($9.99), to put your guests in a festive mood without overwhelming them.

Food
With everyone in costume, you’re probably not going to be serving up a five-course gourmet meal. Since you’re short on time, think of simple decorative additions to normal party food. “You can make cupcakes and put pipe hanger spiders in them,” says Strebel. And while caramel apples might be a bit of a time drain, grab a caramel dip to drizzle on apple slices.

If you feel like going with an international flare, head to a local bakery and pick up a Pan de Muerto, or Bread of the Dead. These loaves are often shaped like skulls or are round loaves with strips of dough that look like bones on the surface.

Drinks
Cocktails add extra spirits to any party. Pick out your favorite ghoulish concoction, preferably one with only a few ingredients. If you don’t want to spend the whole night bartending, Strebel suggests setting up a bar station with recipes on cards so people can make their own Witches Brew or Bloody Brain Shooter. Another way to liven up cocktails is to play with the ice. “Plastic spiders in ice cubes can add a lot,” Strebel says, “And it’s really easy.” She also suggests adding dry ice to drinks, but if you do, make sure it’s only a tiny amount because if used improperly dry ice can be dangerous.

For the non-cocktail loving crowd, swipe a few six packs of Dead Guy Ale ($10.99), a German maibock from Rogue Brewing Company. Or pop open a couple bottles of Poizin ($24.99) from Armida Winery, a blend of Zinfandel and Petite Syrah decorated with a blood red skull and crossbones.

Entertainment
A costume contest is an easy way to keep people talking about their costumes all night. Strebel recommends not just having prizes for best costume, but for other categories like funniest and most creative. And if kids are involved, make sure there are prizes for all of them. The last thing you want is to have Superman start crying because he lost out to Dora the Explorer.

For those who want a more focused Halloween party, consider a murder mystery game. One caveat for this option is you need a small group, and Strebel suggests no more than 20 guests. Games can be found in hobby stores or online at sites like Host-Party.com, where you can download it for as little as $24.95. When your guests arrive, assign them each their role and let the murder mystery begin.

And the next day, with all the money you’ve saved on your low-budget party, head to the supermarket to splurge on some half-priced bags of Snickers and Milky Ways.

Happy Halloween! Banks have had some scary times recently. Geezeo Expert Farnoosh Torabi talks with Jim Cramer about one bank to buy now.

The “dirty dozen”, or, twelve fundamental truths of investing and managing money, courtesy John Hancock Insurance. Actually, they aren’t “dirty” at all…

1. Over the long term, stocks have had greater total returns than bonds.

2. Over the long term, bonds have had greater total returns than money market funds.

3. On average, stocks are much riskier than bonds.

4. On average, bonds are much riskier than money market funds.

5. You will make investments that go down immediately after you buy.

6. You will sell investments that continue to go up after you are out.

7. You will hold some investments too long.

8. The value of opportunities missed will dramatically exceed those in which you participate.

9. Someone, or some group of people, will always do better than you.

10. You don’t pay a financial adviser for information — you are paying for knowledge, wisdom and personal guidance.

11. Accept uncertainty. No one knows where the market will be next week, next month or next year.

12. Money can only be made in the future — it’s impossible to invest in past returns.

Just as important, consider your own, “personal money truths”. These are the guidelines you hold closely because they represent challenges in your own life. For example: “It is easy for me to spend money I don’t have. Therefore, it’s important I always buy when I have the cash in hand.” These little matras can go a long way toward changing your behavior.

Speaking of behavior, did you see yesterday’s fact that in a recent survey, seventy-five percent (75%) of Geezeo users who actively use our budgeting tools save $1,200/year or more. Cool! Get your own set here!

Related:

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Image is everything. You can’t go anywhere without somewhere judging what you are wearing or how you present yourself. However, staying on top of your style does not have to be expensive. Yes, I will admit that the brands such as Burberry, Gucci, and Prada will dig a huge hole in your pocket…but there are other ways to stay on top of your game without spending a lot of money.

1. Consignment Shops – A lot of times people do not want to shop at consignment stores because they don’t want to wear other peoples clothing. However, you can find the best deals! Consignment stores only buy the best products from consumers which means they have to be in great condition. They can then turn a profit by selling it to you for a little bit above what they bought it for. But honestly, the quality of the clothes is great and you can find some amazing brands. I suggest taking whatever you purchase to the dry cleaner. Although this will cost you a little bit extra money, if it is for something such as a winter coat it is definitely worth it. Maybe you could even sell off some of your old things that you no longer want and purchase some new!

2. Off Price Retailers – Stores such as Burlington Coat Factory, TJMaxx, and Loehmann’s offer great deals on brand name products. I love shopping at these stores because often times they still have the original tag on them from the brand which will state the full price that was charged in their stores. You then compare it to the tag of the store you are in and you realize how much of a great deal you are actually getting. The clearance section at these stores is also amazing! Take the already discount price and usually slash that price by about 50% and you get your clearance item. Nothing is wrong with these items but typically these types of stores will rotate through their inventory fairly quickly and older merchandise will get moved to the clearance section. Often times the products in these stores are still on the floors of Bloomingdale’s, Nordstrom, etc. but you are getting the product for much cheaper!

3. Shop Online - There are so many great websites that will give you brand names for cheap, all you have to do is search. Sometimes even your favorite stores at the mall will offer promotional deals online that they aren’t offering through the store. If you don’t have time to go out after work to shop, looking/buying online makes your life much easier. Our partners at MainStreet.com found 2 great websites that offer virtual sample sales to consumers. These websites are gilt.com and hautelook.com. With most sample sales you aren’t able to return your items, but MainStreet.com explains that these websites allow you to return your purchases if they don’t fit you. The sample sales are set for certain times and will last for a few days only. The worst part is that with any great sale involving big brand names, the best items are gone first (and fast)! With gilt.com you do have to be invited by someone to shop their website so hautelook.com is probably your best bet for this type of shopping.

In these tough economic times everyone wants to save money where they can. This doesn’t mean that you have to cut shopping out of your life (although that route will save you the most)…it just means that you have to be more frugal with your money and look in the right places. The above 3 places offer you great deals for much cheaper. If you are into brand names and want to keep up with the latest trends (and just plain love to shop) definitely check out the above to see what you can get yourself. If you don’t find anything the first time, continually pop back in to see what you can get for a steal.

Photo: Carolina Jimenez-Garcia

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By Jeffrey Cretan | MainStreet.com

With everything going on in the world- the credit crisis, election showdown, bank bailouts- Halloween has snuck up on you. But you can still throw a last minute Halloween party that won’t lighten your wallet.

While you might be short on time and money, you’re not short on effort. “It’s all about getting people together,” says Sally Strebel, CEO of BestPartyEver.com, a party planning social networking site. Here are some suggestions for planning a last minute, tight-fisted Halloween party.

Decorations
Score some basic décor from your local market to make your place look spook-tastic in no time. Fake cobwebs are easy to drape across furniture and tree branches, and can be balled up and reused every year. Strebel also suggests picking up a fake tombstone or two for the front yard. “They’re only about 20 bucks. Not as expensive as people think,” she says. Tape black cutouts up on walls, windows or any flat surface. Just grab some construction paper at any store, cut out a few bats and witches and you’ve got an instantaneously spooky scene on the walls.

“When your guests first walk in, you want to hit their five senses,” says Strebel. Download some scary sounds off the Internet for when people walk up to the door. Or turn on an Internet radio station, like Live365.com, that plays Halloween songs all night, which won’t cost you a dime. As for smell, Strebel suggests something subtle, like a pumpkin scented Yankee candle ($9.99), to put your guests in a festive mood without overwhelming them.

Food
With everyone in costume, you’re probably not going to be serving up a five-course gourmet meal. Since you’re short on time, think of simple decorative additions to normal party food. “You can make cupcakes and put pipe hanger spiders in them,” says Strebel. And while caramel apples might be a bit of a time drain, grab a caramel dip to drizzle on apple slices.

If you feel like going with an international flare, head to a local bakery and pick up a Pan de Muerto, or Bread of the Dead. These loaves are often shaped like skulls or are round loaves with strips of dough that look like bones on the surface.

Drinks
Cocktails add extra spirits to any party. Pick out your favorite ghoulish concoction, preferably one with only a few ingredients. If you don’t want to spend the whole night bartending, Strebel suggests setting up a bar station with recipes on cards so people can make their own Witches Brew or Bloody Brain Shooter. Another way to liven up cocktails is to play with the ice. “Plastic spiders in ice cubes can add a lot,” Strebel says, “And it’s really easy.” She also suggests adding dry ice to drinks, but if you do, make sure it’s only a tiny amount because if used improperly dry ice can be dangerous.

For the non-cocktail loving crowd, swipe a few six packs of Dead Guy Ale ($10.99), a German maibock from Rogue Brewing Company. Or pop open a couple bottles of Poizin ($24.99) from Armida Winery, a blend of Zinfandel and Petite Syrah decorated with a blood red skull and crossbones.

Entertainment
A costume contest is an easy way to keep people talking about their costumes all night. Strebel recommends not just having prizes for best costume, but for other categories like funniest and most creative. And if kids are involved, make sure there are prizes for all of them. The last thing you want is to have Superman start crying because he lost out to Dora the Explorer.

For those who want a more focused Halloween party, consider a murder mystery game. One caveat for this option is you need a small group, and Strebel suggests no more than 20 guests. Games can be found in hobby stores or online at sites like Host-Party.com, where you can download it for as little as $24.95. When your guests arrive, assign them each their role and let the murder mystery begin.

And the next day, with all the money you’ve saved on your low-budget party, head to the supermarket to splurge on some half-priced bags of Snickers and Milky Ways.

As we approach the end of 2008, now is the time to start thinking about your retirement contributions.  Most people are aware of the rules for corporate 401(k)s, Traditional IRAs and Roth IRAs, but here are four retirement plan options that you might not know.

1. Individual 401(k)
Sometimes known as the Individual(k) or the Self Employed 401(k), the Individual 401(k) was created by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA).  It is designed for owner-only (or owner and spouse) small businesses, and allows them to establish an Individual 401k plan, similar to those run by large companies.

Compared to other self employed retirement plans, the Individual 401(k) allows for greater contributions, and thus greater tax deductions.  In 2008 the contribution limits for an Individual 401(k) is $46,000, or $51,000 if the owner is over age 50.  This is made up of a maximum salary deferral of $15,500 and profit sharing contribution of up to 25% of compensation. In addition, like a corporate 401(k), the Individual 401(k) allows for tax free loans of up to 50% of the total value, to a maximum loan of $50,000.

2.  SEP IRA
The Simplified Employer Pension (or SEP) plan is another retirement savings vehicle for small business owners and the self employed.

The annual contribution limit is 25% of W-2 compensation, to a maximum of $46,000 for 2008.  Like a Traditional IRA, monies invested in a SEP IRA are tax deductible and earnings are tax deferred.  To make the maximum contribution into your SEP IRA as a self employed or small business owner, you must declare at least $230,000 in earned income.

3.  Simple IRA
A Simple IRA is an employer sponsored plan for small businesses with up to 100 employees.   It consists of two parts: an optional employee salary deferral and a mandatory employer match.

Like a 401(k), employees can defer up to 100% of their compensation, to a maximum of $10,500.  This amount is tax deductible for the employee.  Employers are required to match the employee’s contribution on a dollar-for-dollar basis, up to 3% of the employee’s compensation.

4.  Spousal IRA
There are two flavors of Spousal IRA: nonworking spouses, and both working spouses.

A nonworking spouse can make a tax-deductible 2008 IRA contribution of up to $5,000, as long as the couple files jointly on their tax return, and the working spouse has enough earned income to cover the contribution.  There are income limits and rules surrounding the working partner’s coverage in an employer’s retirement plan (such as a 401k) which phase out the deductibility of this contribution, so always check with your tax specialist before making any contribution.

If both spouses work, and neither participates in a qualified retirement plan at their job, both can make deductible IRA contributions of up to $5,000 as long as there is enough earned income between them to match the amount of the contribution.  For example, a wife works a regular 9-5 job (which does not offer a retirement plan) and the husband has a small part time business at home.  Her income is $65,000 and his is $4,500.  They can both make deductible IRA contributions of $5,000 (for a total of $10,000) because combined their income is over $10,000.

Spousal IRA contributions can be made into either a Roth (non-deductible) IRA or a Traditional (deductible) IRA.

There are pages and pages of rules and regulations surrounding all of these options, so please talk to your financial advisor and tax professional first.

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By Lyneka Little | MainStreet.com

If I could write an ode to any entity, it would be the Internet.

The ditty would describe the thin line between love and hate for a technological advancement that has changed the way we all go about our daily lives.

But unlike idealized romantic love, there’s a charge for reciprocity from the Internet. (That kind of love can hurt.)

My connection to the Internet has evolved to the point that it is my job.

But if you, like me, between work and your real life, only spend one waking hour at home online, the question stands: Are we getting value for our dollars? While reverting back to usage fees on an hourly or minute-by-minute basis come across as far from appealing, that against-the-grain thinking could mean big savings for Internet users who rarely find time to use the Web at home.

Much like cable, looking at ways you use the Internet and how LONG you are on the Internet are important to determining the value of your monthly fees.

A Bundle Is Not Always Best
If you’re only on the Internet to check email a few minutes a day, then it makes sense to get rid of what you don’t need. Purchasing the Internet as a bundle with other services such as phone service might sound like a good deal, it’s like a two for one, but it’s not always the best deal.

Before you bundle your service, ask your provider about billable Internet hours. Some don’t know the breakdown between cable and Internet fees. You want to know what you’re paying for. In my household, it’s about 1/3 of our cable package. That may be a steep price if you only use the Internet for email and a few shopping searches. Do the math: Spending $50 a month to use the Internet for a total of five hours costs you $10 an hour –that’s more than online access at a New York City coffee shop.

Consider-Pay-Per-Usage
Services such as Aristotle offer the option of billing based on usage volume. The service charges about $0.50 an hour for time spent online, that rate would equal savings of $32.17 a month for daily Internet usage of about 90 minutes (versus what you would cost for a bundle deal). On the other hand, if you’re an active user, a flat rate might offer more bang for you buck. If so, there’s still the question of which package.

Surprise, Unlimited Not Always Best
Before you head towards unlimited, consider how you use the Internet. “Users should step back and assess what they have, and decide if they are really using it to its maximum or if they could be just as happy with less expensive service,” says Kevin Brand, of Earthlink. “If you have high speed Internet, and you’re only using it for email or sports scores, you might be fine with having a less expensive dialup.”

Consider this: Unlimited Internet sounds as appealing as all-you-can eat popcorn at the three hour movie, but remember you’re also paying for what you don’t eat or, in this case, don’t click. If you lack the appetite, why pay the price? Cox Communications has plans that range from $19.99 to $43.99, Optimum Online and Road Runner start pricing at $29.95. (Of course these figures mean nothing if you don’t know your usage time per month.) If you choose the $44 plan over the $20 plan and spend five hours a month on the Internet, you’re paying $528, which is a lot more than $240, for the year. That’s an overpayment of $288 for an individual with limited Internet access. If the price doesn’t make sense, it should not cost you cents.

While Internet caps have become a hot topic, the most important part is to avoid paying for excess. During these recessionary times, $288 could go towards basic needs, travel or even stocks.

How long are you on the Internet? Do you have unlimited Internet access? Do you use DSL or dialup? Talk to us.

In this week’s Random Acts of Fashion, Kristin Bentz, The Talented Blonde, points out a consumer retail stock that is winning in the ‘new economy.’

We recently surveyed the Geezeo community and asked, “what is your biggest concern with the economy right now?”.

Here’s what you had to say:

36.11% — Rapid decline in the stock market and it’s impact on 401(k)s and other investments
30.56% — Collapse and subsequent banking crisis and the short- and long-term ability for banks to lend money
19.44% — Falling home values and the potential of massive foreclosures
11.11% — Other
2.78% — Escalating gas and heating prices and the resulting ability for people to pay bills

Given our economy what aspect of your finances are you focusing on right now?

33.33% — Budgeting: understanding where my money goes and what I can cut back on
30.56% — Debt reduction: paying off those credit cards to get a firmer financial footing
19.44% — Savings: beefing up my ‘rainy day’ fund because things are so uncertain
16.67% — Investing: taking advantage of the down markets - buying low

For more discussion about this economy, log into any one of our discussion groups. And don’t forget: our budgeting tools are free to use. Even better? According to a recent seventy-five percent (75%) of regular users save $1,200/year or more using Geezeo’s budgeting tools! Click here to see how they can help you.

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