Saving at the Supermarket

It looks like hubby and I will be back on a very strict budget. Thanks to Supermarket Guru Phil Lempert we can save mucho dollars at the supermarket if we follow his guidelines.

Know what you already have stocked in your pantry, freezer or fridge.

The departments at the market are run independently. You may find similar items in different departments at vastly different prices.

Buy frozen fish and meat.

Buy only durum-wheat semolina dried pasta.

Buy white eggs that are "certified humane" over more expensive cage-free brown eggs.

Try Select meat and tenderize.

Store brands are comparable to many other brands and often have money-back guarantees.

Instead of a costly cereal, consider buying a high-fiber store brand and adding your own sweeteners, fruit and nuts.

For more on boomer and senior diet and nutrition, meal planning and cooking, visit 50somethinginfo.com

Drug Prices Vary--A Lot!!

Sorry. Just took a self-imposed sabbatical. After all I think I have somewhere between 400 and 5oo blogs and a girl can get tired.

Now here's something I didn't know. You don't have to join a wholesale club like Costco or Sam's Club in order to use their pharmacies (according to AARP author Janet Kinosian).

In a recent survey of the common generic drug, simvastatin, a thirty day supply ranged from $7.71 at Costco to $19.87 at an independent pharmacy. Wal-Mart charges $24.36. CVS gets $63.39 and Walgreens rakes in $89.99 for the same thing!

Call different drug stores to check current prices before purchasing your meds. And remember to check for harmful reactions and interactions.

Teaching Your Grandkids About Money

As grandparents we often agonize about what to get the grandkids on holidays and birthdays. Sometimes it's apparent. More often we just don't know where to start.

The Wall Street Journal had an article on how to give children (probably 10 and older) the gift of investing.

Stocks: Combine interest in a toy or videogame with the company that produced it. Create a spreadsheet to follow the ups and downs. Discuss new releases and their implications on the stock price.

Bonds (with variable rate adjustments for inflation): This is a means to study the changing buying power of the dollar and risk of bonds vs. stocks.

Investment Accounts: Expose kids to more complex investments such as mutual funds. Choose a sector that particularly interests them such as a tech-sector fund.

Roth IRA: Consider opening a Roth individual retirement account in their name and matching a certain percentage of their earnings. Talk about tax benefits.

529 Plans: Consider a 529 college-savings plan in which withdrawals are tax-free as long as they are used for qualifying college expenses.

Your holiday gift can teach and inspire and last longer than we have time on earth.

Budgeting for a Happy Holiday

I know. You thought I had fallen away from the earth. Well, almost.

Being part of the sandwich generation, I've recently dealt with health issues (my mother), reworking my website (me) and wedding plans (my daughter).

The health issues are getting resolved as we speak (write) and the website is looking better than ever. But the wedding plans still have a ways to go even if the wedding is only 2 months away.

The big problem with weddings is getting what you want but staying within the budget and my kid is vigilant about that (good for her and her fiance!).

Keeping to a budget isn't specific to weddings. It pertains to yearlong (and future) plans.

Now that the holidays are upon us, some personal budgeting might be a wise way to go. Cut down your gift-giving list to the "essential" people. Think "do-it-yourself." Use last year's decorations. Use funky wrapping paper--like the comics. Forego the little things.

I want to share with you a cool site that aids you with your holiday spending. You enter the amount you've budgeted and the actual prices paid. The closer you get to the amount you've budgeted reveals how good you are at this game.

Good luck and happy holidays!

Special Times To Save Money (Consumer Reports): When You Should Buy

Consumer Reports suggests you adjust your alarm clock to get the best deals.

Find the least expensive airline seats on Tuesday, Wednesday and Saturday. Buy your seat after 3 p.m. (Eastern time), Tuesday - Thursday.

Bowl before 9 or 10 a.m. or after 9 p.m.

Shop farmers markets near closing time for the best buys.

Discounted movie tickets may be available in the morning or early afternoon.

The cost of live theater tickets may be greatly reduced within a couple hours of curtain time--but be prepared to pay in cash.

Check your utility company to see if rates are lowered during off-peak times.

Best Recession Bargains

Consumer Reports Money Adviser provides the best recession bargains in its June, 2009, issue.

For big ticket items, you can compare prices and in some cases, get alerts when prices have dropped. Try BizRate, PriceGrabber, Shopping.com, Yahoo Shopping and Nextag.

Pass on extended warranties if your research shows low repair rates.

Get as many of these as you can when you purchase a car: low interest rates, cash back, and special lease deals. (Sue's suggestion: Consider insurance costs in your decision--different models might have different rates).

Select cruises that don't involve expensive airline tickets to get to the port. And Early Saver programs can cut the cost as much as 30%.

Look for hotel bargains in cities that formerly served as convention sites.

Don't buy more than you need. For instance, a 6-megapixel camera is great for most photos. You don't need to spend more on more pixels.

Maintain a stellar credit score if you plan to purchase real estate (and take advantage of house bargains galore).

When purchasing washers, dryers, ovens and ranges, and refrigerators, consider only energy-efficient ones to save on your utility bills.

Secondhand stores are my personal favorites for clothes.

Finally, for greater discounts at many stores, ask the salesperson if he/she can "work" with you. Negotiate also on shipping, delivery and installation. Paying in cash can save the merchant for a credit-card transaction--so see if the store will pass along the savings to you.

Find more about discount shopping at 50somethinginfo.com.

Summer Vacations on a Budget

Spring has sprung and summer is close behind.  I used to look at this period as the "final stretch" before "glorious summer."  

Now seasons seem to run into each other (okay, so I don't live in cold weather) and time has a different meaning.

So does money.  Like the rest of you, Car-man and I feel the economic vise squeezing our pocketbook.  

So what does a family do for vacation on meager funds?  One suggestion is to pick a vacation destination midway between all family members.  Plan a reunion at a campground around games, picnics and potlucks.

And should even that pose a financial hardship, consider purchasing an inexpensive web cam that can be enjoyed throughout the year.