When times are hard, it is difficult to imagine giving money to charities when you are searching for money yourself. When times are hard, people get very caught up in everything around them and forget that there are other people out there that might be a little bit worse off. Giving back to your community or to families in need does not always have to be costly. Donating does not always have to be expensive.

Here are some ways you can give back this holiday season:

Soup Kitchen – Donating your time is the best thing to do (and free for you!). Soup kitchens and shelters are always looking for help and volunteers around the holiday season. Get some friends together and do this together! It will make you feel really great and all you have to do is donate some of your time. Yes, everyone is busy around the holidays, but one day (or even just a few hours) of your time can make all the difference in someone else’s holiday season.

Canned Food Drive – Search through your cabinets! Many times people buy canned food because it is on sale or just because at the time they thought they would use it. If you find cans in your cabinet that you don’t think you will be using anytime soon, donate these to a canned food drive. If they are just going to sit in your cabinet in the kitchen until they expire, they can make a difference for someone else when it comes to making dinner one night. If you are like my mum, you always stock up on canned food during the winter just in case a storm hits. Clean out your cabinets and donate what you don’t need.

Used Clothes – Purge, purge, purge…this will feel great, trust me! There are always clothes that you can’t get rid of. I’m not suggesting get rid of your basics (or clothes that you wear all the time) but there are always clothes in the way back of your closet that you haven’t worn forever. Or perhaps they just don’t fit anymore! Donate old winter coats that your kids have grown out of or that might have a broken zipper. If the zipper is broken and that is why you aren’t wearing it, it doesn’t necessarily mean that it wouldn’t keep someone else warm this winter. You can look online for drop of locations for good will and other places that take used clothes. Also, if you keep track of what you donate and it adds up to a significant amount of money, you can put this on your taxes and get a tax break!

Donate More Than is Necessary – Recently my job had a Turkey Dinner Day where you got a whole turkey dinner just for donating a dollar. We raised over $4,000 but we could have done much better than that if everyone donated just a little bit more. I figured that lunch in the café costs about $5 (or more) anyway, so I gave a little bit more than was necessary. Giving an extra $4 that I would have spent on lunch anyway can make all the difference in how much money was raised.

It isn’t always easy to take a step back and think of other people outside your friends and family during the holiday, but if you do remember it can make all the difference for someone else (and also for you!). Donating your time (or a little bit of money) can make you feel that you are able to help out someone else just a little bit. With times being so hard for everyone, nobody is expecting much, but every little bit counts!

Photo: Malinda Welte

I know that everyone has had that moment when they wish the price tag on an item was much lower than it actually is. The truth is, there may be times when you are able to bargain your way to a better price. Don’t get me wrong, this won’t work in every situation, but it can’t hurt your situation to ask right?

1.) Competitive Shopping
This can work to your advantage in so many ways. If you do your research in stores, the newspaper, and ads, you can sometimes find a price below the store that you actually want to buy the product you are looking for at. If you go to that store, remember to bring the competitors price with you. When talking to a salesperson make sure to mention that you found the same product at another location for cheaper and if there is a way to do better than that price. Often, stores advertise that they will offer you the best price if you show them a price that is lower. Make sure you give them the chance to prove this to you!

2.) Offer Cash
Retailers must pay credit card companies a processing fee when you use a card at their stores. For independent retailers (or more mom and pop type stores) often times the retailer may offer you a lower price if you offer to pay them upfront in cash. It never hurts to ask and if you have the cash to pay upfront it also helps you out in the long run. Although you won’t get the points on your credit card, you will ensure they you aren’t adding to debt that you might already have.

3.) Search the Internet
Places such as Amazon.com offer deals if you buy bundled products together. Especially with DVDs, you can get a lower deal if you buy more than one DVD that they bundle together with one another. This happens a lot with TV seasons. If you are in the market for related products, see if you can get a bundled deal and save some money. For instance, if you need a computer and printer, see if the cost goes down if you purchase both items together. These bundled deals are offered a lot of the time on the internet, but that doesn’t mean that some retailers might offer similar deals.

4.) Haggle with Your Bank and Credit Card Company
Banks and credit card companies need your business. Without you, they would have nothing. According to an article from MainStreet.com, requesting a lower interest rate can work more than 50% of the time. Make sure your history allows for a lower interest rate and often times you can get one.

Just ask! Bargaining happens all the time at car dealerships, garage sales, and other retailers. Take your chances and ask to see if you can get a lower price. In such a tough economy, you might be surprised if people are willing to offer a little bit of a lower price if they are still making a decent profit. Times aren’t easy and every sale counts!

Photo: Kevin Rosseel

It isn’t easy to say “no”…especially when the deals and offers seem so appealing. The problem is that many people live in the now and don’t think about what the future may hold. Spending money today will definitely affect how much you have in the future. You need to consider everything and realize how much you are spending before it is too late.

There are times where it might seem great to say “yes” now, but you need to consider the future repercussions and make your decisions based on the whole picture.

1. Would you like to open a tab?
This one will get you every time! Yes, it is easier to open a tab at the bar but it isn’t always the best decision. To be safe, take out as much cash as you want to spend that night and only use that. Leave your credit cards at home if you don’t feel as though you have the will power to say no. Sometimes tabs can get mixed up at the bar and you can end up paying for someone else’s drinks. If you always want to use your credit card, don’t open a tab but pay and sign every time. This may seem like a huge hassle, but at least you can watch how much you are putting on your card.

2. Do you need a cash advance on your credit card?
Unless you are in desperate need for cash, taking a cash advance on your credit card is a bad idea. The problem is that many times some younger people don’t always understand what taking a cash advance may mean. Typically, cash advances on your credit card come with a great deal of interest (and usually that interest starts as soon as the cash is removed from your credit limit).

3. Would you like to save 10% today by opening one of our cards?
Store credit cards are the worst kind. Not only do they usually hold a higher interest rate that regular credit cards, but it is easy to forget about them. Keeping track of all your bills can be overwhelming at times and sometimes store credit cards are overlooked because they don’t seem as important. Also, opening credit cards that you might forget about can hurt your credit score as well. Although the 10% off your purchase may seem like a great deal at the time, it isn’t worth it in the long run.

4. Want to go out for some drinks?
If you do not have a great deal of money to spend on drinks, ask your friends if they wouldn’t mind hanging in for the night and having a few drinks at your house. 2 drinks at the bar can cost you $20 depending on where you go, but if you stay at home a whole bottle of vodka or tequila (whatever your alcohol of choice may be) can cost you the same amount. I’m not suggesting that you always say no to going out with your friends because obviously that won’t happen, but if you feel yourself in a crunch for money I’m sure your friends will understand and wouldn’t mind having a few people over instead.

5. Do you want to cash these checks?
Unless you need the cash right away, put the money into your checking or savings account. You spend much more cash when the money is right there in your wallet than when you actually have to go to the ATM to take more out. Try to put as much money as you can into your bank account in order to keep track of how much money you are spending and where it is going. Cash disappears so easily, make it a little harder for you to spend (even if it might be a little bit inconvenient).

All of these questions are situational and vary person to person, but if you are questioning your decision about doing something it is probably best to not do it. Spending money and avoiding bills will just put you in a worse position for the future. Stay on top of your credit cards, budget, and spending with Geezeo to make sure that you are giving the correct answer when asked these types of questions.

Photo: Iván Melenchón Serrano

What is the point in having a credit card and not getting points for it? Although the interest rate may be higher on some of the reward cards, if you are being responsible with your spending and paying off your debt, earning the points should be practically free! If you are going to spend, then you might as well earn something back for all your valuable spending.

Credit cards can get complicated and understanding what your card has to offer definitely takes some research. But with the internet, all this information is right at your fingertips!

Here are some tips that might help you make the most of your credit card rewards:

First: Choose the Best Card for You
There are so many cards out there and you should choose the one that is right for you. Do your research and make sure you read the fine print before signing up for a card. You don’t want to be stuck paying yearly fees or extremely high interest rates if you aren’t able to pay off your credit card right away. Check out this article from our partners at MainStreet.com on how to pick the best credit card.

Compare Your Prices
If you get a credit card that offers both cash back and rewards make sure you are comparing your prices. Often times you might be able to get something like an iPod shuffle for 12,700 points but can get $80 in cash for 10,000 points. If you compare how much an iPod shuffle costs in the store ($69.00 for the same size), you would realize that getting the cash back and purchasing it in the store would cost you less (and you would have some cash left over too!). Doing your research helps! If you see a product on your credit card rewards website, make sure you are comparing how much it also costs in the store.

Don’t Cash Out
If you don’t need the money, don’t cash out or claim your rewards until you see something you really want. Yes, having cash right then would be great, but seeing your rewards grow is a great way to save. Your credit card points don’t usually expire, so once they are there they are yours! Make sure you are getting the most for your money and not blowing it on something that you won’t use. In the long run, you will be happy that you took the time to save.

Pay Off Your Card
I love putting purchases on my credit card because I get the points. It is great to see that my money actually goes somewhere. The one thing that I have found extremely helpful is to pay off my credit card as I spend. If my money sits in my checking account I see my balance and think I still have money to spend, but if I pay my credit card off as I go, I realize that I don’t actually have as much money as I would like. It makes me watch my spending and keep my debt down while earning great points.

There are some people that still don’t have credit cards that they earn points with and it makes me wonder why. Earning points is a great way to spend, especially if you are putting purchases on your credit card anyway. You might as well get the most out of your spending and either get cash back, merchandise, free flights…the list goes on. However, don’t let yourself get caught up in the points and remember that paying off your credit card is all part of the deal…otherwise you and just throwing the points away by spending extra money on your interest. Make sure to check out the Geezeo Marketplace for credit cards that will work great for you and recommendations from people who already use them.

Photo: Andrea

Related Articles:
Tame Your Credit Card Interest With Transfers
Now Even Credit Cards Are Green! Here Are Your Five Best Bets
Why Store Credit Cards May Not Be Worth It
Digital Cash: It’s a Credit Card - It’s Digital and its Safe

By Farnoosh Torabi | MainStreet.com

Few Americans can say their net worth’s equal what they did this time last year, amid depreciating home values and sliding stock market.

Add that to an unpredictable job market and you have a nation eager for extra revenue streams. If your 9 to 5 fails to foot your bills, here are our favorite part-time jobs that work around your schedule.

Direct-Selling
This $30 billion dollar industry, according to Ernst and Young, attracts some 77 million Americans each year thanks to its flexible format. Avon ladies (Stock Quote: AVP) put this industry on the map back in the late 1800s. Today, direct sellers sell cosmetics, clothes, exercise equipment, food, magazine subscriptions, tools and more!

Babysitting
Consider giving up a weekend here or there to help out a neighborhood family. Babysitting rates for out-of-college young professionals can run around $10 to $15 per child per hour.

Tutoring
Speak a second language? Scored high on standardized tests? Have a teaching degree but can’t make ends meet on a public school salary? Make money during your free evenings and weekends by offering up your skills to students in need. Leave no child behind, right?

Catering
How do you think Martha Stewart became a multi-million dollar home and garden maven? Catering and event planning from her Connecticut home while being a stay-at-home mom. That’s how. Do you have a knack for cooking but don’t know how to profit off of it? Kick off your part-time business by inviting neighbors, family and friends to your house for a free tasting session. Book appointments after they fall in love with your delicious menu.

Fitness Instructor
This is a great way to stay in shape and turn your free time into cash and with most gyms open around the clock and weekends, schedules are flexible. If you’re already a fitness buff, inquire about teaching a part-time class at your local gym, YMCA or YWCA.

Freelance Writer
Sites like mediabistro.com and journalismjobs.com regularly post freelance opportunities for skilled writers. But writing experience is not always necessary. If you are an expert in certain industry, such as a lawyer, doctor, teacher, engineer, advertising agent, then consider guest writing for business-to-business or industry trade magazines.

Web Site Designer
Every business needs a web site. Not all business owners, however, can afford to hire expensive web designers to create even a basic web site for them. If you have HTML skills or are fluent in web design, post your skills on craigslist.com or scour through the listings to find interested clients.

Related:

Carrying Cash - Dangerous?
The 10% Rule
Learn How to Turn Collectibles Into Cash

By Michele Steinberg. FinanceGrrl

We’ve all heard the call:  pay off your credit card debt!  This current financial crisis is going to result in tighter lending standards, higher interest rates, and also golden opportunities to invest the cash you’re currently using to pay off debt.

Hopefully everyone with debt knows the basics: stop using the card; take it out of your wallet; pay off the highest interest rate first; and pay more than the minimums.  This is all great advice, but here are five more ways to pay off your debt even faster.

1.  Make weekly payments
The credit card companies will accept your money any day of the week.  Instead of trying to save up (or not spend) the money you need to pay down your debt each month, make payments weekly.  This is easy to do online, and as credit cards typically assess their interest daily, you’ll be saving more in interest every week.

2.  Give “found money” a purpose
Found money refers to funds that were misplaced or forgotten and then rediscovered. A great example is $20 found crumpled in your jeans pocket when doing the laundry. Put that $20 in your wallet, and immediately go online and send $20 from your checking account to the credit card company.  Get $50 from grandma?  Send it to Visa.  Are you paid bi-weekly?  In those wonderful two months each year when you get three paychecks, send as much as you can to the credit cards.

3.  Use savings
In this situation, “savings” does not mean an interest bearing money market account.  Did you go out to buy a new winter coat with $100 budgeted and spend only $80?  Send that extra $20 to the credit cards.  Did you clip coupons and save $10 at the grocery store?  Send it along.  No amount is too small.

4.  Sell your junk
You know you have things that can go.  Get onto ebay and sell your stuff, and then send your profits to the credit cards.  Make a great use of these last days of good weather to have a yard sale, and then pack up the profits for the debt companies.

5.  Pat yourself on the back
Stop being down on yourself about the debt!  Instead, focus on the progress you make.  Celebrate any extra payment - not by spending more money - by feeling good about the progress you are making.  Constantly harboring negative thoughts about your debt will only cause more harm.  Focus on the good and feel proud each time you make even a small dent in the debt.

The primary concept is simple:  make extra payments beyond your usual monthly payment.  Do this, and the balance will go down much faster and you’ll be out of debt before you know it.

Related

Focus on the Payoff to Eliminate Your Debt
Four Ways to Legally Clear Credit Card Debt
Four Ways to Avoid Excessive Credit Card Use

It is extremely easy to get caught using your credit card over and over again. Taking your card out of your wallet feels like you aren’t spending any money at all (until you check your credit card bill later on). This past weekend I was caught doing just that, I have gotten into the habit of putting almost anything on my credit card because it is easier to do and I like seeing my points add up!

I went to see a movie and although I had about $50 in cash on me, I still put the ticket on my credit card. Afterwards I turned to my friend and told her I had no idea why I just put that onto my credit card since I had so much cash in my wallet. It seemed unreasonable and it probably was, but luckily I have found a few ways for me to keep my credit card purchases in line.

Things that may help control your credit card use:

Continually Check Account Online – This is really important. Making sure all of your purchases are correct and remembering all the purchases you have made will make all the difference when it comes to paying your bill. Adding all of your accounts to Geezeo can also help you budget and plan with your credit cards and bank account(s) information all in one location.

Pay As You Go – This has helped me out a lot. If I see too much money in my checking account I get the tendency to spend more. However, if I pay off my credit card online as I go, it takes the money from my checking and pays off my credit card account. It has been helpful to let a few transactions go by and then pay it off because then at the month you don’t have a huge bill that has piled up on you unexpectedly.

Make Sure You Spend on Top Priority Items First – An article from our partners at MainStreet.com lists several high priority items that will help you to prioritize your debt. Some of these high priority items include food, housing, child support, taxes, student loans, etc. Making sure you have enough money for these types of items will help you prioritize your spending. MainStreet.com explains why these priority items may be more important than your credit card bill.

Transfer Into Savings – When possible you should always transfer money into savings accounts. When I transfer money into my savings I try to forget about it, that way I am not tempted to spend what I have already saved. This tactic works really well for me, I use ING Direct and they make transferring money from my checking to savings extremely simple. Check out the Geezeo Marketplace for a savings account that will work great for you!

Keeping on top of your debt is important because if you don’t you will find yourself drowning in it later. With online banking and Geezeo, keeping track of where your money is going is so simple! Get advice from other people in groups such as Credit Card Info and Getting the Best Deals Around for spending/saving tactics that have worked best for them or share your ideas too! Don’t fall into the credit card trap!

Photo: Belén

Related Articles:
DIGITAL CASH : It’s a Credit Card - It’s Digital and its Safe
Carrying Cash - Dangerous?
MainStreet Explains: Prepaid Debit Cards
10 Money Lessons From the Great Depression

Since I moved back home after graduating from college, I have wanted to have a garage sale. Not only have I been saving all my clothes that I have outgrown or no longer like, but I have also been packing up odds and ends into boxes in anticipation of a sale. However, as summer came and went, I still have yet to hold that garage sale but have boxes and bags piled up in my garage still waiting. The question that is left for me now is if it is really beneficial for me to even go through with the sale at all anymore.

There are many benefits and drawbacks to having a garage sale and everyone may have a different situation depending on where they live, how much time they have, etc.

Benefits
• Get a little extra money – Since times are hard, it is easy to benefit from a little bit of extra cash in your pocket. This money could go towards gas, into your savings, or even to purchase something you have been wanting.

• Trash = Treasures – Obviously the things you are getting rid of you may think nobody would want, but you would be surprised how much people will be willing to buy at garage sales. Some families even look in local papers for sales they can travel to on the weekends.

• Include your neighbors – We asked our direct neighbor if she wanted to be a part of the garage sale as well. Not only does this make the sale more appealing to people, but it gives you more space to use for parking and putting tables, etc. Your neighbor may also have a different group of friends or different ways to get the word out in order to draw a larger crowd.

Drawbacks
• Time consuming – Planning and executing a garage sale can take a great deal of time and effort (sometimes too much for the amount of money you get out of it). Really decide if what you are selling is worth your time and the time of people who might come to your sale. You want to include some attractive products to draw the crowd and make sure it is worthwhile.

• Have to keep the prices low – People are looking for a bargain at garage sales and not necessarily looking to spend a lot of money. Think of what you would do with the items if you weren’t able to sell them and price accordingly. Even a few cents/dollars are more beneficial to you than throwing something in the trash.

• Spend money to make money – According to our partners at MainStreet.com there are many times when you hold a garage sale that you must spend a little bit of money in order to get an audience to attend your sale. Some of these extra costs may include advertising and supplies for signs and pricing on your items to be sold. When we were thinking about having our garage sale (although it may still happen) my mum was going to put an advertisement in our local paper and also a larger publication in order to generate more awareness. Many people also put ads on Craigslist.org which usually draws a decent crowd looking for sales.

So, the longer my boxes and bags sit in the garage the more impatient my parents get with having so much junk just sitting around. Make sure that if you do have a garage sale you also figure out what to do with what is left over. Donations are always great and often times if you donate clothes you can get a receipt to use for your tax deductions.

Weigh the pros and cons to decide if a garage sale is really worthwhile for you to hold. You could either be surprised by how much money you actually make or you could come away with little to no profit. It is a hit or miss situation, but often times seems to work out for the best when people execute a garage sale correctly, efficiently, and at the right time of the year.

Photo: Andrea Church

Related Articles:
The Politics of Trendy Book Sales
How to Deal When Price Hikes Outpace Your Paycheck
Four Ways to Help Strangers Save Money

Do you tend to carry cash in your wallet?  Or do you prefer to have a plastic card?  Do you think you tend to spend more when you have cash?  Or less?

I personally spend more, or at least spend it faster.  Jim, over at Blueprint for Financial Prosperity says this:

“carrying a fat roll of cash gives you a sense of power, confidence, and bravado that you don’t have carrying a couple pieces of plastic…. Anyone who has put on a nice suit can attest to this. Suits boost your confidence because you look good in them. You look professional, smart, and powerful. Does a roll of money do the same?”

I’d say that I would agree that this can be true.  There are those that seem to have more confidence in themselves when they can whip out the cash to pay for that nice dinner.  However, I’m slowly beginning to not care about the feeling of power you may get for safety reasons.  As Jim says:

“If you lose cash, it’s gone. If you lose a credit card, you cancel it and get a new one.”

So how do you feel about carrying cash?  What are some of the advantages to having cash?  What about having plastic?

Related Articles:

• Cash Challenge
• Why You Should Stash Cash At Home
• Best Starter Credit Cards

When I started my very first summer job - lifeguarding - my father simply laid down the law. He told me that I had to save 10% of every paycheck, and we opened a checking and savings account at the local bank. My dad was the resident expert: a former CPA and manager of the family’s finances, so I just assumed this was how everyone handled their paychecks. By the end of that summer I’d saved up enough money to last me through the first part of the school year. I was completely surprised when my friends had to keep their jobs going into the academic year. What happened to their 10%? I was even more shocked to hear that none of them had saved any of their summer money – or even thought to do so. That one lesson has been invaluable to me over the years, and I’m here to spread the word!

Establishing a savings cushion is a goal of many, and it’s so much easier to do than you think:

Start small – but start! Even 10% of a summer of 1991 lifeguard’s paycheck adds up. If all you can manage now is $10 a week – do it! As an adviser, I like to recommend my clients start with a number just beyond their reach because it is easy to pull back, but really difficult to increase. If you think you can do $10 a week, try $15.

Make it habit. If you don’t trust yourself to sock money into savings at regular intervals, set up an auto-deposit from your checking account to your savings account.

Save even if you have debt. Debt should be a priority, but it should not stop you from saving a few dollars every week.

Online banking makes it easy. There are so many benefits to online banking. You get a higher interest rate than is offered at most “offline” banks; transferring money back and forth between your checking account couldn’t be easier; establishing a separate savings account apart from your checking will keep the funds even more separate in your mind – which cuts down on the potential to use the money; and you typically won’t receive an ATM card with an online account. This last benefit eliminates the 2AM cash run you know you’ll regret later.

Check out Geezeo’s new marketplace which makes selecting an online bank even easier. Compare rates and minimums and get to it! Open your savings account now – and strive to save that 10%.

- Michele Steinberg, FinanceGrrl