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Cutting Grocery Costs without Cutting Nutrition
Simple, healthy, and affordable ways to weather the rising price of food
by Karen Collins, R.D., American Institute of Cancer Research
Grocery prices are projected to increase again in 2008 – that’s following 2007’s highest annual increase in 17 years. But surviving these tough economic times doesn’t have to mean sacrificing good nutrition. Some simple strategies can help you cut food costs and eat more healthfully, too.
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Got a Cute Baby Pic? Free Entry! New $2500 Winner Every Month
Using Insurance to Reduce Risk
econ4u.org
All Choices Involve Risk: There are no risk-free choices. Usually, the best way to reduce risk is to take action yourself. For example, to reduce health problems, eat right, get plenty of exercise, get enough sleep, don’t smoke, avoid drugs and so forth. But, since there is no way to avoid risk completely, a common approach is to buy insurance to help reduce the financial losses that can result from bad things that happen.
How Insurance Works: ...In the real world, the fee (premium) would have to be large enough to cover not only the losses but the cost of operating the business and earning a profit. And because things don’t always go according to plan, an insurance company needs to be prepared for unexpected costs. If 10 residents have their apartments robbed, the insurance company needs to have enough cash in reserve to pay them back, for instance...
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How to Save on Your Grocery Bill
A full cart doesn’t have to leave you with an empty wallet
by Kati Neville
Don’t buy non grocery items at the supermarket. Health and beauty goods are usually cheaper at mass-market retailers, like Target. And you’ll find the best deals on paper products at warehouse clubs.
Purchase oranges, onions, and potatoes in bags rather than individually. You’ll pay roughly half the price.
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Fix, Freeze, Feast
by Kati Neville and Lindsay Tkacsik
In addition to recipes they also have tips for organizing your shopping list, packaging meals and preventing freezer burn...
Are women paid less than men?
by Diana Furchtgott-Roth
One of the concerns of working women is the “pay gap” – the alleged payment to women of 78 cents for every dollar earned by a man. But there are more behind these numbers than first meets the eye, because women work different hours, major in different subjects, and choose different careers.
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Gut Decisions May Not Be Smart
by DEIRDRE VAN DYK
If you have ever struggled with a difficult decision — new job vs. new boyfriend, sports car vs. minivan, read the book vs. see the movie — you have likely also been offered a heap of decision-making wisdom. Make a list of pros and cons. Go with your gut. Sleep on it.
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econ4u.org
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Sometimes known as payday, cash-advance or deferred-deposit check loans, short-term loans are repaid on the borrowers next payday (up to 14 days away).
Which are more expensive, late fees or short-term loans?
• The average credit-card late fee is over $30.
•Overdrawing your checking account can cost you $40-$60 for each check since both the bank and the merchants are likely to charge bad-check fees. Plus you still have to pay the amount on the checks!
•Some banks provide bounced-check protection. However, a fee is charged for every check, ATM withdrawal and debit-card purchase once the account is overdrawn. The average fee is $29 and additional daily fees are usually added if the overdraft has not been remedied within five days. A handful of small purchases can cost hundreds in fees even though the total amount overdrawn is less than $100.
•A $100 short-term loan typically will cost $15 for 2 weeks.
In addition to the fees and penalties, late or skipped payments can hurt your FICO score. One impact of a lower FICO score can be hundreds or thousands of dollars in additional interest payments on just one future loan.
A short-term payday loan can be a better option than overdraft fees, reconnect fees, late payment fees or a damaged credit rating when the loan is repaid promptly. However, these loans are not suited for longer repayment periods.
While many forms of credit have a lower APR than short-term payday loans, sometimes the costs of borrowing can be deceptive.
Short-term Payday Loan Facts:
•Banning short-term payday loans in North Carolina and Georgia led to more Chapter 7 bankruptcies, more bounced checks and more customer trouble with debt collectors. -Donald Morgan and Michael Strain, Federal Reserve Bank of New York Staff Report # 309, November 2007
•Sixty percent of short-term payday loan customers have “maxed out” their credit cards. -G. Elliehausen and E.C. Lawrence, “Payday Advance Credit in America: An Analysis of Consumer Demand.”
•While payday lenders took in fees of $6 billion dollars in 2003, consumers paid nearly $80 billion in late fees to merchants and overdraft fees to banks. -The Annie E. Casey Foundation
How do short-term loans work?
The typical short-term loan requires payment of $15 for every $100 borrowed. That is, a $15 fee for borrowing $100, $30 fee for borrowing $200 and $45 for borrowing $300. However, fees can be higher depending on the lender.
Once the borrower proves they will be getting a paycheck, they write a check to the lender for the amount borrowed and the fees combined. The check will be dated for the next payday. On payday, the lender will cash the check and the loan will be closed. Usually, the borrower can extend the loan for another pay period by paying another fee for the current loan.
Due to their convenience, short-term loans may make sense in some situations. However, extending the loan six times means that the borrower pays more in interest than they borrowed—all for a 3 1/2-month loan.
Being realistic about budgeting can help avoid the need for short-term borrowing.
Short-term Payday Loans vs. Bounced Checks
Perhaps it is surprising, but access to short-term payday loans helps people with limited access to credit.
Economists at the Federal Reserve Bank of New York studied what happened when well-meaning legislators in North Carolina and Georgia passed laws that shut down their payday loan industries. These economists found that Chapter Seven bankruptcies went up and consumers bounced more checks. The estimated overdraft fees in Georgia alone were $36 million.
Note: The New York Times reports that payday loans are transparent, but expensive, while banks offer hidden fees.
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9 Cash-Saving Tips That Pay Big Bucks
complaintsboard.com
The expression "a penny saved is a penny earned" doesn't cut it these days. But saving a few dollars here and there can add up...
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more...
Try out these Thanksgiving recipes from tasteofhome
You May Have Too Much Debt But You Also Have Options
How Life Works
If you feel like you're in over your head with personal debt, you're not alone. Millions of Americans have become overextended, many as a result of easy credit and the recessions. Credit cards, medical bills, personal loans and raising interest rates do not make a good financial mix.
read more...
Suze Orman's Recession Rescue Plan - helps you survive in times of financial crisis
OPRAH.com
Do you know what your family would do if you lost your job - or worse, your home? Financial expert Suze Orman is ready to help you
devise a recession rescue plan to survive - and possibly thrive - during this deepening financial crisis...
read more...
Could fat babies mean fat toddlers?
A new study from Harvard Medical School found that babies who gained weight quickly had a sharply higher risk of obesity. The study
followed close to 600 babies and found those in the top quarter of weight for their length at 6 months had a 40 percent higher risk of
obesity by age 3 than smaller babies.
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more...
The 10-Ingredient Shopping Trip
By Tara Parker-Pope and Mark Bittman
... In his latest “How to Cook Everything” segment on the Today Show, New York Times food writer Mark Bittman makes it
surprisingly easy to cook a week’s worth of dinners with just a 10-ingredient shopping trip.
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more...
Finding last-minute tuition money
There's still time to find funds for this semester's college tuition. But you'll have to move quickly.
By Gerri Willis
It's only a couple of weeks or even days until school begins. And if you don't think you'll be able to get a handle on your college
tuition bill, here with your guide to last minute money.
read more...
Short-term Payday Loans
econ4u.org
...Which are more expensive, late fees or short-term loans?...
A short-term payday loan can be a better option than overdraft fees, reconnect fees, late payment fees or a damaged credit rating when
the loan is repaid promptly. However, these loans are not suited for longer repayment periods...
Being realistic about budgeting can help avoid the need for short-term borrowing.
read more...
Your Just-in-Case Emergency Plan
by RealSimple
Who do you call if you can't make it home in time to meet the kids' bus? Who do
you trust to take in your mail when you're on vacation? Who do you trust with
the extra set of keys to your house?
read
more...
How to save $10,000 in 2009
By Liz Pulliam Weston
If you were hoping for a list of small tweaks you could make in your spending to save $10,000 a year, sorry. The reality is that
$10,000 is a lot of money. And saving big money usually means making big changes in the areas where we spend the most, such as:
Housing, Transportation, Food.
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more...
The Super, Sexy, Single Mom on a Budget
by Renee Rayles
A quick reference guide designed for the busy, single mom who has
little time to read while running the mom taxi, cooking dinner, helping with homework, and trying to fit in a date night every now and
then.
32 and Counting? Finding Your Happily Ever After Today
by Gi Gi
The author talks about the struggles a single mom goes through and the discovery that you can have HEAT (Happily Ever After Today) just
as you are, being single, taking care of your kids...
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Single Mothers &
Male Role-Models / Mentors
Single mothers carry an enormous load of responsibility, especially those having sole and/or primary custody of minor children. They
nourish, they nurture, they teach, they discipline, they shelter, they protect, and they provide… all without the assistance of another
equally-invested adult.
read more...
Your 5-minute guide to protecting your identity
20 steps to protect yourself from identity theft, and seven ways to clean up things if you become a victim.
read more...
TheOnlineMom.com offers parents and consumers a guide to the top-rated, age-appropriate, kid-tested and parent-approved tech toys and gifts.
read more...
Diary of a Wimpy Kid: The Last Straw
by Jeff Kinney
For those wondering why tween boys don’t read very much, the answer is that more books aren’t like this...
read more...
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