Monthly Archives: September 2008

Museum Day 2008, and Other Frugal Activities for the Weekend

Posted on by  at  6:00 am
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Photo courtesy of hoyasmeg

Fall is my favorite time of the year.  The summer heat is finally breaking, replaced by crisp days with a cool breeze and a crystal blue sky.  Backyard grills are busy cooking up tailgating meals on Saturday afternoons as friends and families gather to take in a college football game.  The milder temperatures make for a great time to be frugal because there are so many cheap activities to be enjoyed outside of the house.  I’ve included a few of them below, along with a very special frugal activity to mark Museum Day.

  • Visit a museum, for free!   Hundreds of museums across the country are celebrating Museum Day 2008 by offering free admission this Saturday, September 27th.  Museums offer a great frugal entertainment option.  We may visit a nearby arts and sciences museum where they have an area dedicated to children’s activities.  Check out this link to find a participating museum near you.
  • Plan a picnic.  With the weather finally cooling off around the country it is a great time to plan a picnic at your favorite spot.  Pack up a few homemade sandwiches, some bottled water, and your favorite fruits to enjoy a meal in the great outdoors.  Don’t forget to pack a blanket to sit on, and a frisbee, a kite, or maybe even a football for some post-meal entertainment.
  • Go for a bike ride, as a family.  Me and the kids all have our own bike, but my wife does not currently own one.  We would like to change that in the near future, but for now we may have to settle with renting her a bike at a park with a bike trail.  For just a few dollars you can rent a cruising bike all day and explore the trails and the park together as a family.  Don’t forget your helmets, Dads!  Remember, your kids will think they are cool only if you wear them (note, this is only applicable through the preteen years–after that, nothing you do is cool!).
  • Host a “Field Day” at home.  One of my kids’ favorite days of the school year is Field Day.  I remember enjoying events like the 100-yard dash and the softball toss.  Why not recreate some of those events at home?  Have a family relay race–kids against parents, or boys against girls.  Find some old potato sacks and have a sack race, or stop by a dollar store and pick up a few hula hoops for a hula hoop contest.
  • “Old school” game night.  Today’s kids do not know how to entertain themselves.  Without the help of a video game, a television, or a parent, most kids would be bored out of their minds.  Teach them some “old school” games and compete against them.  Start out with some classics like Simon Says, or Red Light/Green Light.  Then teach them a little Hide and Seek and Freeze Tag.  I remember playing games like these for hours in neighbor’s yards, and even inside on rainy days.

Spending a lot of money is not a requirement for having a lot of fun.  The two most important ingredients for family fun are creativity and togetherness.  As long as we can think up fun stuff to do together we can avoid expensive entertainment such as movies, arcades and amusement parks (which are a lot of fun, too, but in small doses).  Have a great frugal weekend!

Does Spending Less Money Get Easier Over Time?

Posted on by  at  1:00 pm
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My family has been on a mission to reduce our spending, pay off remaining school debts, and build a giant emergency fund for well over a year now.  For much of that time I’ve been chronicling that journey at Frugal Dad.  One question I am typically asked by readers, and media types, is if I started Frugal Dad to make myself more accountable.  Honestly, that wasn’t one of the primary reasons, but I think writing every day about being a better steward of money has made it easier for me to bypass impulse spending opportunities.

Finding Contentment, Not Resentment

Over time it is difficult not to grow a little resentful of your reduced spending plan.  You do not have to look far to find someone who by all appearances is doing better than you.  It is hard to see neighbors hauling in new furniture, or a plasma television, or driving home a new car, and not think, “I wish I could afford to do that, too.”  This past year it seems like everyone I know has taken a great vacation.  We haven’t taken a vacation in over a year now, and frankly we could use the break.  But, we stayed home this summer to keep plugging away towards the goal of cleaning up our finances once and for all.  We are content to pass on life’s luxuries for now while we focus on living with only life’s necessities (with some occasional fun stuff mixed in, too).

Developing Frugal Habits

Like any new habit, frugal living takes a little time to become routine.  It’s not like you wake up one morning and completely undo all the years of being a mega-consumer.  And even when you do get all that emotional spending out of your system there times of relapse.  Something shiny may catch your eye like a kid in the toy store.  It might be a new tool that you just have to buy, or maybe the object of your spending desire is a new pair of shoes that you have been wanting forever, and they only have one left in your size.  Learning to recognize those moments, and still make a frugal choice, is what separates the “men from the boys,” financially.

I still occasionally have my moments, but for the most part I am fairly content with what I have. Sure, my vehicle could use an upgrade, but it runs well and gets me from A to B.  A few pieces of furniture around our house are broken, or badly worn, and should probably be replaced.  However, we are content to “let things ride” for the time being, while we focus our efforts on other financial goals.

So to answer my own question, yes, over time it does get easier to spend less money.  At least, it gets easier to buy less things.  With the way prices have recently inflated it is still tough to spend less money!

A Half Dozen Uses for Empty Egg Cartons

Posted on by  at  6:00 am
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Photo courtesy of robsmith-qld

When you think about it, eggs themselves are a pretty frugal food.  They are just about the cheapest form of natural protein available, and are the primary ingredient in nearly every made-from-scratch recipe.  We go through a lot of eggs in our household–boiled eggs, scrambled eggs for breakfast (and occasionally, dinner), deviled eggs, etc.  Instead of tossing the empty cartons I began hunting different ways we could reuse them.  Here are a few ideas:

  • Use an empty egg carton to ship breakables.   If you are selling on eBay, egg cartons are a great thing to keep around as they offer protection to small, breakable items.  If the item is especially small, and you don’t want to pay extra for shipping a rectangular container, cut four compartments from the bottom and roughly the same-sized square from the top, clam shell them together over your breakable and place in a small box, or wrap with tape and brown paper.  Since egg cartons are light weight they won’t add much to your shipping bill.
  • Start seedlings in egg carton bottoms.  A little soil leveled off in the bottom of an egg carton makes the perfect area for starting a seedling.  Later, you can transfer the dirt and root bulb to your square foot garden!
  • Make extra ice for coolers.  Need some extra ice to ice down the cooler?  Cut the bottoms on an egg carton and fill with water.  Place them in the freezer overnight and slide out the ice “cubes” in the morning to ice down your favorite beverages.  Note, give them a good cleaning if you plan to use the ice in drinks–wouldn’t want any egg leftovers in there.
  • Organize washers, nuts and screws.  I hate putting together store-bought furniture because it usually comes with instructions no one can understand and a huge plastic pack of screws, washers, etc. that all look alike.  Save some leftover egg carton bottoms to sort and organize these items during your next DIY bookcase project.
  • Make fire starter briquettes.  Looking for a good use for a pile of sawdust from your latest home improvement project?  Melt some wax in a big pot, mix in a little sawdust, and pour the wax into the bottom of an egg carton.  When the wax cools you are left with little fire starter cakes that are great to take along camping, or use in the backyard fire pit.
  • Change sorter for yard sales.  Why buy an expensive cash box with separated compartments just to hold loose change?  For your next yard sale, hang on to an empty egg carton bottom and use it to make change. This is also a fun way for kids to learn to separate their coins.  Cut out a four-compartment section of the egg carton bottom to separate pennies, nickels, dimes and quarters.  Let the kids decorate their “egg banks” to add a personal touch.

*Got some old milk jugs sitting around, too?  Check out 12 Household Uses for Empty Plastic Containers

Do you have any other tips to share for reusing egg cartons?

Midweek Roundup: Davy Crockett Edition

Posted on by  at  1:00 pm
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“We have the right as individuals to give away as much of our own money as we please in charity; but as members of Congress we have no right to appropriate a dollar of the public money.”

- Davy Crockett

My what a difference a couple hundred years makes! Imagine if a Congressman came out and said something like that in the current political climate. He’d have my vote! Of course, in the current market turmoil you have appointed individuals drawing up plans to spend $700 billion of taxpayer’s money, but it still has to be approved by Congress. It will be interesting to see how it plays out, but I tell you I have serious reservations about setting precedents like this–imagine when the next financial disaster hits. Will taxpayers again be asked to foot the bill for government and industry fiscal irresponsibility?

Site News

One item of interest to pass along.  You may have noticed this week that I have started a two-a-day posting schedule.  I’ve decided to try this format for a while because I have lots of article ideas to share, and limiting myself to one article per day made it hard to get all my ideas in writing.  Email subscribers will likely receive both articles in a single daily email, so be sure to scroll beyond the first article to read them both.  Feel free to give me some feedback on whether or not you like the new format.

The Roundup

  • Best Places for Your Money When the Stock Market Tanks. Very timely piece! I’m lucky (I guess) to not have much money in the market at the moment, outside of retirement accounts. What I do have is sitting in high-yield savings accounts as suggested in this article. (@The Digerati Life)
  • How to Have a Frugal Vegas Vacation. Some great tips included in the comments in this article. I’ve never been to Vegas, but hope to visit one day. (@Generation X Finance)
  • 29 Steps I Took to Leave the Workforce at Age 29. This may be my all-time favorite post from Madison–incredibly inspiring, and insightful. Unfortunately, since I’m a couple years older I don’t think I’ll make it out of the rat race by 29, but 40 is still within range! (@My Dollar Plan)
  • Timing the Bottom. Timing the bottom of an individual stock, or the market as a whole, is a tough task. While there are some technical analysis tricks to use (I don’t know any personally), I would stick with a long-term approach to investing and keep plowing money into low-cost, highly diversified mutual funds. (@Brip Blap)
  • Keep My Money Safe and Let It Grow. An excellent review of available options for your money, including CDs, money market accounts, Treasury Bills, etc. (@Sun’s Financial Diary)
  • How to Make Your Job Better or Find a Better Job. Bottom line? “Life’s too short to spend it working in a job you don’t like.” Couldn’t agree more! And I’ve spent my share of time sitting in a dead end job waiting for something to change. (@Money Smart Life)
  • Buying a Car? 10 Ways to Get the Best Deal. Nice tips for buying a car, either from a dealer or an individual. With gas prices on the rise, and disposable income shrinking, it’s a great time to negotiate a deal if you’ve got the cash. (@Lazy Man and Money)
  • The Choice Between Daycare and Staying at Home. My wife stays at home with our kids, but we agreed on that from the beginning. In dual-income households it is difficult for one parent to step away, and it is not always about finances. As this article mentions, some careers require a steady stream of employment, on-going training and certifications, etc, making it even more difficult to make an exit to raise kids. (@Million Dollar Journey)
  • The Never-Ending War Against Advertising. So far I’ve cut out the expanded cable service, and am considering dropping the Sunday paper (I can get coupons from eBay) in an effort to avoid advertising. (@Get Rich Slowly)
  • The Festival of Frugality #144. David at My Two Dollars pinch hit as host for this version of the festival, and did a fine job. Lots of interesting frugal living reading material!

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Allowance Chart For Kids Chores

Posted on by  at  6:00 am
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I admit it–I was wrong to create the allowance chart as the sole source of earning allowance money. Well, I was half wrong.  Several months ago I wrote about the elaborate commission-based allowance chart I had created for my kids whereby they would earn a bit of money for each chore completed. 

The idea was inspired by Dave Ramsey’s Financial Peace Junior materials, and his reinforcement of the idea on various calls to his radio show.  However, the more I reflected on the idea, the more I didn’t like it the allowance chart we had in place.  So, I decided to change it, and created a combination comission system and allowance chart.  The plan is scheduled to start in October, and I think the kid are looking forward to the change.

The New Deal

Under the new allowance system, our kids will receive a base allowance based roughly on their age. To receive an allowance they must complete a basic set of household chores such as keeping their rooms clean, helping with the dishes when asked, putting away clean laundry, etc.  Of course, there will be some things they do as members of the family (put water down for the dog, help set the table, etc.) that will not be included in either the allowance system or the commission schedule.  After all, I don’t get paid to mow my own lawn!

Our kids will also have the opportunity to earn bonuses, or commissions, based on the completion of a variety of advanced chores and special projects.  This is not unlike most sales positions that offer a base salary plus commissions, with the base salary represented by the kids’ regular allowance.  Initially, they will be paid each week on Saturday (chore day) because I want the reward of receiving payment to happen soon after the bulk of the work is performed.  As they get older, we will likely increase this to a biweekly payment plan, and then possible monthly, as they improve their budgeting skills.

How Much to Pay for Kid’s Allowance?

This is the tough part.  There are lots of formulas floating about the web, particularly on kids and money sites and parenting blogs.  Instead of coming up with an age-based amount per allowance “pay period,” I worked backwards from a ballpark figure I had in mind that seemed a reasonable amount for each child.  For instance, my daughter is the oldest at eight, and $20 per month seems like a reasonable amount for an eight year-old to earn as a base allowance.  Subtracting a little for savings, and a little for giving, that is still enough to buy a CD, book, or something that she is wanting.  Remember, she can also do extra chores to boost that amount (more on that later).  $20 per month breaks down to about $5 per week, which is less than the recommended dollar per week per year of age plan.  That is by design.  $5 per week is plenty considering all her other needs are met, but is low enough to encourage her to work for extra money.

The Commission Schedule 

Our kids can earn extra money by doing things like helping dad with light yard work, sweeping the back porch and garage, etc. 

The commissions for each chore vary based on degree of difficulty, but most range from $0.25-$1.00.  Not a bad deal for a few extra minutes of work each week.  A commission schedule is posted on our refrigerator each Saturday afternoon after the previous week’s payments have been made. 

As the kids complete the chores they check off the chore and add up their commissions earned each day (never too early to work on those math skills!).

A Kid-Sized Budget

Our only requirements for the money they earn are that they must divide them into three categories:  saving, giving, and spending.  I want our kids to be savers and givers (yes, the two can co-exist), so to reinforce that idea we tell them to toss their money into separate jars for that specific purpose. 

My daughter has several opportunities throughout the year to participate in fund raising activities at her school, such as drives for the American Cancer Society, and other notable charities.  It is much more meaningful for her to put a dollar she earned into the collection jar, than to hand over one I’ve given her.

Do you pay your kids an allowance?  Is it based on their age, or some other factor?