It must be obvious that you should only buy things in bulk if you are sure you will use them up and if you have a place to store them. This may be a good time to clean and organize your garage so you have a place to store your bulk purchases. Of course, things that will not spoil quickly are always better candidates for bulk buying. Bulk milk would not do much good for most of us, but bulk toilet paper would probay work out well.

You do not have to shop at the big bulk stores to buy in bulk either. These days, regular grocery stores offer larger sizes at a saving. This is convenient if you only want to make a few bulk purchases.

Cooperative Bulk Buying

Here are some good bulk purchases ideas. Keep in mind, these may not work out for you. If you do not have storage space, a 48 pack of toilet paper may be tough to stash away.

One clever idea that some of my neighbors started is to buy some items in bulk in a cooperative fashion.  Everybody can take their 8 rolls of toilet paper from that big pack. Either the neighbors can take turns picking up the bulk items, or everybody can just chip in their fair share for the cost. Good candidates for cooperative bulk buying may be things that would spoil if they are not used.

I often see big packs of steak on sale, for instance. If you can get each member of your coop to take a couple steaks, you can all have a great dinner on the cheap!

• Gift Giving – I have seen some big bulk retailers with gift card offers. For example, you may be able to purchase $100 worth of gift cards for 20% off. You could either use the card yourself for an automatic savings, or you could save money on presents you have to buy.
• Most Paper Goods – You can save money on paper goods from paper towels to greeting cards by buying in bulk. How many times have you had to run out for a $5 greeting card. But you can usually find packs of greeting cards for a big savings.
• Pet Food – Again, consider how you can store this safely. But I have noticed that the small bag of dry dog food is almost the same price as the much larger bag.  I can also find a large bag of parrot food for about the same price as a small plastic jar. I worry about the food getting stale if it is open too long, but a tight storage container may be a good investment over the long run.
• Light Bulbs, Batteries, etc. – Now batteries may have an expiration date, but if you run through AA’s like we do, a 12 pack will be cheaper per battery than a 2 pack! I always like to have extra batteries on hand too. By the way, it is true that your batteries can last longer if stored in the freezer. You do need to warm them up before use, and you should store them in a water tight container.

Do you have any ideas for saving money by buying in bulk. We’d love to have you register and comment.

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While we are doing our retirement planning, most of us also consider the next generation. We would all like to leave money behind to our spouses, kids, grandkids, or even a favorite charity. It is our way of trying to do some good, even after we have left this world behind. For middle class people, the problem of taking care of our retirement needs, while trying to leave an estate, is a tough and common dilemna. We consider products like annuities to provide income for our golden years, but as we think of ourselves, we do not want to leave others out of our thoughts.

Single Premium Life Insurance (SPLI)  is one way to be able to multiply an estate, and also to help our beneficiaries avoid inheritance taxes. Now keep in mind, that because this type of life insurance is paid for with one premium, it may not be treated the same by the IRS as traditional life insurance that is paid for over a span of years. When you sit down and look at individual products, with an insurance agent, they should be able to illustrate the benefits of SPLI, and you can determine if they outweight the disadvantages. 

You can learn more about this here – Single Premium Life Insurance Explained.

What Is SPLI? It is, simply, a type of whole life that is paid for with only one large premium when you buy your policy. This means that the actual coverage is funded quickly, and so the cash value can grow quickly. The cash, or asset, value of the policy will usually grow with a set interest rate or some type of market index (i.e. S&P 500).

Turn Cash Into A Larger Death Benefit

The main goal is to take one amount of money and turn it into a larger death benefit. Most people’s premium will pay for a much larger amount of life insurance. So this is good if you have some amount of cash that you can aside with the main goal of leaving a larger estate behind to your loved ones or a chartiy.

Build An Asset For Yourself Too

Secondary goals could be building up a cash value that you can use while you are alive. In order to realize any benefit from this, you must be prepared to leave the policy alone for enough time so you do not have to pay any surrender charges. Surrender charges differ by individual policy, so that will be one more factor to consider. But once you do realize some asseet growth, you can borrow against the policy, or you can cash it in.

Many policies have some additional provisons that can help you avoid the cost of long term care insurance too. They may allow you to take a portion of the actual death benefit while you are still alive if you are terminally ill or confined to a nursing home. Again, you need to look at the details of an individual policy.

You may also be able to take advantage of something called a senior life settlement to get cash out of your policy that is more than the surrender value, and is some percentage of the actual death benefit.

You can start researching this product with senior life insurance quotes.

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Kolaches are very popular in my area. They are rolls that are filled with different things. I find them sold at special kolache shops and at donut shops. But these are usually stuffed with sausage or sugary fruits. However, I found out that it is very easy to prepare kolaches at home, prepare them in a healthier way, and also freeze them for a quick and easy breakfast that my whole family likes.

Beyond serving them for breakfast, my kids also really like to have them around as snacks. They can eat them cold, or they can pop them in the mircowave for about 30 seconds for a hot snack.

Homemade Kolache Recipe

• Frozen roll dough or Biscuit Mix (You can buy low fat mix, and it is very inexpensive to make a bunch). If you use the mix, you may also need skim milk or whatever you need to make up biscuit dough.
• A cookie sheet. I like to line mine with baking parchment paper. You could also use foil for convenience. Or you can just use the plain cookie sheet and spray it with cooking spray.
• Filling. This is where you can get creative. I tend to use low fat hot dogs or turkey sausage. Sometimes I use cheese. You can also go another way and use something sweet. If you use hot dogs or sausage, slice it into 2 – 3 inch pieces.

You will have the best luck of your dough is about room temp. So if you used frozen dough, you will need to defrost it. Simply wrap your filling in the dough. Make little rolls around the filling and put them on the cookie sheet. Bake the dough according to package directions. Your filling will cook (or melt) as the dough bakes.

These are great served fresh, but they can be reheated in the microwave. I tend to make a big batch, leave some in the fridge, and freeze the rest. That way I have a prepared breakfast I just have to heat up. My whole family loves these, and they make a welcome treat after everybody is tired of cold cereal.

And this recipe is really cheap too. Frozen bread dough is inexpensive and biscuit mix is even cheaper! Turkey sausage isn’t expensive either as a source of protein. Plus, you may find yourself very popular as this is the type of breakfast that everybody actually likes.

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Look, we are all about frugal living, and some people consider us total cheapskates! But that hardly means we don’t have a heart. In fact, with all of our frugal ways, we should actually have a few extra bucks around to give!

Clinton Bush Haiti Relief

I would urge all of you to make a stop at the Clinton Bush Haiti Relief Fund Website. You will be able to learn more about the scope of this disaster, what government and charity groups need to help, and what you can do. The website does urge visitors to make a donation, but even smaller amounts of cash can help. If you can spare $25 or $50, it probably will not change your life that much. But that money, multiplied by all the other donations, can save a lot of lives.

Why Give to Haiti Relief?

• You can probably spare $25 – $50.
• The UN estimates that 3 million people in Haiti need food, water, and medical help.
• There may be a million people who are homeless right now. Homes have collapsed, and people are afraid to return to buildings because of aftershocks.
• These totals include children, the aged and infirm, sick people, and injured people.
• Many more people may die because of poor water supplies, illness that could be treated, or injuries that could be treated.
• Sick and injured people are being lined up on sidewalks. There are no beds, and many simple medical supplies are missing.
• Buddy, you can spare $25!

Read More – Clinton-Bush Haiti EarthQuake Fund

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I don’t know about you, but I find that if I don’t make some effort to plan out my finances, it leads to trouble every time. I always seem to be an eternal optimist, thinking that financial matters will just take care of themselves. The thing is, that do seem to take care of themselves as long as I am aware of how much is coming and going out. But when I neglect to pay attention to this, my savings evaporate and debt creeps up.

Famly Budget Worksheets

We have given you two resources to help you plan. The first is a family budget sheet which you can download and print. This gives you a simple way to document your income, expenses, and savings. I understand that some income and expenses are variable. It is not so important to document every expense down to the last dime. It will be enough to make a good estimate of an average month. So you could sit down with the real numbers from the past couple of months, or you could just try to make a general estimate based upon your experience.

The second resource is a sample family budget that we have filled out. We used a fairly moderate income as an example, and also some fairly moderate bills. But you will see that in the example, the family expenses actually exceeded their income, and they made no effort to save money at all. But this worksheet will also give you some tips that this family used in order to cut about $300 from their monthly budget, putting them back in the black! And these savings tips did not mean giving up on anything they really needed to have a normal life.

Your Family Budget Attack Plan

If you prepare your budget, and you see that your expenses income minus expenses actually equals a negative number, you need to figure out how to fix this. This situation means that you will not be able to save or reduce debt. But it does not mean you need to panic. Most of the time we can find some simple fixes. Of course, sometimes during periods of unemployment or underemployment, the situation is not so simple to fix. But in these cases, the adults in the family usually understand the big problem without using a budget form.

Example Budget Fixes with No Pain

• Most of us need to buy homeowners and auto insurance. You may be able to compare insurance rates, take advantage of a competitive market, and actually save quite a bit of money every month on a fixed bill! I cannot promise that everybody will save money, but I did this recently and actually saved $200 a month by switching from one top insurer to another, and by taking advantage of additional discounts the other company gave me.
• Do you really need a landline? Everybody in my family has a cell phone, and I also have an internet connection.  After awhile, I found that most of the calls to my traditional phone were from salespeople. Friends and family used our cell numbers. By taking advantage of an internet phone offer and using cell phones, I eliminated about $60 a month in landline charges and taxes. I still kept the home phone number by switching it to an internet phone that my cell phone provider sells for $10 a month.  So my net gain was $50 a month!
• I do not live in a family of stoics. We love to eat out a couple of times a week. However, I did reduce the number of times we grabbed burgers during the week by making sure I had some simple food to prepare at home. This is cheaper and healthier. I can prepare tacos at home for about $10, but it costs $40+ for our family to go out for Mexican food. We still usually eat out once during the week and once on Sunday. But I try to look for coupons in those mailers I used to toss out. Anyway, by adjusting our meals, but not eliminating some meals out, I probably save $200 a month.
• Put yourself back on cash! I know we are all used to the convenience of using debit cards. But these little plastic cards make it a lot easier to spend more money. When we used to carry cash or write checks, it was much easier to keep track of how much we spent. Give the family, including yourself, a cash allowance. If a family member goes over the budget, you may choose to give them more, but at least you will know how much money is getting spent. For example, I may give my high school age child $20 a week. If he needs extra money for an activity or gift, I give it to him. But this way, I am aware of how much money is getting spent. Likewise, I give my self a couple of hundred dollars a week for groceries, fuel, and spending money. It helps me really think about what I spend. I may go over my allowance sometimes, but I have to think about going to the ATM for more cash. It is a much better system for me than just swiping my debit card wherever I go!

So you see that by being aware of my expenses, and juggling a bit to make better use of my money, I cut out about $500  a month from the expense side. Believe it or not, most families can do this.

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It is not too late to come up with some frugal Christmas gifts. Sure, you’ve only got $75 left in your checking account until payday, and you still haven’t bought anything for Aunt Midge or that office coworker who surprised you with a gift last night. But it isn’t too late!

Regifting is the New Cool!

Regifting is totally fine, but you just have to be careful about it. If Aunt Midge knitted you a sweater last year, it had better not show up as a gift anywhere she is likely to be. You certainly do not want to break the spirit of the season by hurting somebody’s feelings.

But it is absolutely ok for you to look through your closet or pantry for stored picture frames, bottles of wine, coffee mugs, etc., and to pass them on. Use judgement, make sure they are not open and unused, and wrap them nicely. But beyond that, you are actually passing on something you do not use to somebody who might.

Make Your Own Gift Baskets

It is really very easy to make some very nice gift baskets that will make attractive and appreciated gifts. You simply need a container, like a basket or nice platter (check your Dollar Store). Then come up with a theme, load it, and finish it off with plastic wrap and a bow. You can even find colored plastic wrap in the grocery store which makes a nice touch.

Some Themes for Gift Baskets you can Make!

• Coffee Break - A tin of tea or small bag of coffee, a mug, and a tin of fancy cookies. If your gift recipient does not like coffee or tea, you can find packages of hot cocoa and hot apple cider mix.
• Movie Night – A couple of packs of microwave popcorn, a liter of soda, a couple of aandy bars, and a small (like $5) gift card to a movie rental place. This could be packaged in a plastic bowl (for the popcorn).
• Spa – A bath oil set, pumice stone, and a nice washcloth can be purchased at the grocery or a discount store for less than $10. If its for a guy, give them an inexpensive manicure set and some “not-feminine”  hand lotion.
• Wine – A bottle of wine, 2 wine glasses, and some fancy crackers would to the trick.
• Young Children – Coloring books, crayons, and a bottle of bubbles should keep them happy.
• Teens – teens are tough, but the bath set idea should work for girls. I have had teen boys appreciate some masculine grooming items that do not cost a lot.  The coffee break idea, but with hot chocolate or hot apple cider mix will also work for a teen or older child. It is fun for them to have their own mug and treats.
• For Men – Put together a battery box. Find some packs of different size batteries. This gift will probably be welcome this time of year, but is always useful.

Anyway, I’m sure you can think of a lot more ideas if you put your mind to it. You’d be surprised what you can come up with at the supermarket or dollar store when the pressure’s on.

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This will be a tough year for many families. As I am writing this, I am thinking about the stack of property tax bills on my counter, and also the holiday gifts that my kids want. This may seem like a bad time to think about being frugal, but it is probably one of the best times. So how can I cut some expenses, like holiday gift giving, while sticking to a budget.

A Holday Gift Budget is Important!

Before you buy anything, write down a realistic budget. If you can set aside $300 or $1,000, I would suggest taking that amount of money out in cash. It is a lot easier to stick to your budget if you have to spend real money instead of just swiping plastic at the register. If you cannot use cash, try to keep a register of your expenses. The act of keeping a tally and writing it down will help.

So Where Can We Find Cheap Gifts that are Still Nice?

I have written about this before, but thrift stores can be gold mines of inexpensive gifts. You will also be doing triple duty with your dollars by recycling items and helping a charity like the Salvation Army. Now doesn’t that make you feel good?

There are a couple of large thrift stores near me. They have everything from housewares to furniture. Your 3 year old won’t mind that the kitchen set was gently used by another toddler. Your Uncle Bob won’t know that the tie hung in another closet.  And sometimes you can find some really nice things, like china and candlesticks that deserve another chance at usefulness and beauty.

Gift Exchanges

At our big family holiday gift exchange, we each bring one wrapped gift. Everybody takes a number, picks a gift, and gets to exchange it with anybody who is willing. It is actually a lot of fun and works out ok. Sometimes we bring some special kid friendly gifts for children, so they go home happy. But the adults are usually very happy with whatever they end up, and they are also relieved to only bring one gift instead of dozens.

Homemade Gifts

Now I know you are groaning, but you really can make some things that will be better appreciated than some store bought gifts. Holiday cookies, arranged on a holiday plate, and covered with colored plastic wrap are always appropriate. With a mix, some toppings,  a trip to the dollar store, and a little creativity, you can make up dozens of these for the price of one gift in a department store. You won’t have to apoligize for it either!

Stopping Materialism at Home

This does not work so well with younger children, but I find that adolescents tend to want a lot of expensive things, without really realizing how much they cost. I try to find some average amount of the valud of the things they want and give them cash instead of a gift. What I find is that they tend to purchase a lot less than they wanted me to buy them, and they save some of the money for something they might want later.

So if one of my kids wants a $200 mp3 gadget or a $150 digital camera, I give them the money. It is interesting to see if they still want the item enough to part with their riches. Sometimes they still buy it, but sometimes they delay the purchase.

This is not a bad exercise for people of any age.

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Gift cards seem great. They are convenient because they are easy to wrap and seem to be the perfect gift for the person who has everything. Rather than imposing your own gift choice, why not allow your friend to shop for themselves?

So what are the problems with gift cards?

You are still imposing a choice on your friend if you give a store or restaurant gift card. You may be giving a card to a place where the recipient never shops.

And if you are giving small face value cards, they may actually force your friend to spend a lot more money to use them! Studies suggest that most people who use gift cards actually spend more than the value of them! And in the old days, stores would actually give back change in the form of cash. But now the value is left on the card. So even if your friend uses $21 on a $25 restuarant card, they will have to return to that eatery and spend more in order to use up the remaining $4. No wonder stores and restaurants love gift cards!

Lots of people forget to use them. How many times have you cleaned out a drawer and found 5 year old gift cards that are no longer valid. Many cards impose inactivity fees after a short time, and then expire the cards after more time has passed. Studies suggest that many people do not get the full value of their gift.

But Gift Cards are Such Convenient Gifts!

I agree that these little pieces of plastic can be very convenient gifts. Try to use some thought when you purchase them though. A gift card to a restaurant where you know your friend eats, or a store where everybody shops, can be a thoughtful gift.

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We found a great place to read, and to share, some great ideas for frugal food shopping! One of our sister websites, Frugal Mavens, is running a couple of contests which should help us all brainstorm and save money every week. Please visit before you make up your next grocery list!

Cheap Meal Planning Contest

This one involves meal planning for one dinner. The dinner should be healthy, tasty, and attractive to the tastes of a family with adults and kids. Entries should keep the per-person cost of each meal fairly low just to demonstrate that thrifty cooks can still provide great meals!

See the Cheap Meal Plan Tips Contest Here!

Cheap Weekly Grocery Shopping

This contest is more complex, so you may want to start with the first one. You must lay out a week’s grocery shopping for food that does not cost more than $150. The editor’s example cost about $100. With this list, you mus provide 5 breakfasts, 5 lunches, 5 dinners, and 5 snacks for a family of 4. Again, meals should be balanced and healthy, tasty, and something that you believe kids or adults would enjoy.

See the Cheap Grocery Shopping Contest Here.

Can You Enter The Contests?

You can simple register and put your entry in a comment to enter. It is all free, and is meant to draw attention to the USDA guidelines for how much a week’s worth of healthy meals should cost.  We would encourage everybody to visit the website, and either join or get some great ideas for next week’s grocery shopping yourself!

Stay Updated for more Frugal Shopping Tips!

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If you have ever smelled a bottle of milk that got left in the fridge past the expiration date, you probably already know that is something you do not want to drink or put in your cereal bowl. On the other hand, some find cheese and sour cream may actually be classified as dairy gone bad that tastes great! But beyond a discussion of the obvious, is it ok to eat food that has been packaged and marked expired?

I know you have probably seen some canned or boxed foods in your grocery store, maybe in a discount bin or maybe not, that has passed a “sell by” or “use by” date. In fact, one study found plenty of it on the shelves. And though it tended to be more common in poorer neighborhoods, it was no uncommon in ritzy places too.

Prevention magazine had an article on this subject which I think is worth a mention.

Baby food and forumula – The article says that any baby products that have passed their expiration date should be tossed. I think this is true for a couple of reasons. First, a baby many not have immunity that an older child or adult would have. But also, a lot of our ability to decide if food is bad depends upon our smell and taste, and our ability to also tell somebody that something is disgusting. A baby cannot communicate this, you may not know why Junior is crying or spitting up, and it just is no a great idea to chance it.

Date Confusion! There are different types of dates on labels too. Here is a summary.

Best If Used By and Use By Foods will stay fresh and taste and look their best until these dates. (Don’t buy or use baby formula or baby food after its Use By date.)

Expiration Food probably isn’t edible after this date, so to be safe, throw it out.

Sell By or Pull By Stores should remove products by this date; they may be edible for up to a week afterward.

Guaranteed Fresh Used for baked goods; buy before this date for ideal freshness.

This is a general idea, but in reality, some food is probably fine after its date has passed. Canned foods can last for years. And while other packaged food may not taste as good or fresh past the date, it will probably be perfectly safe. For example, at least one grocery store in my are hands out expired baked goods to a senior citizens complex right after the expiration date. The food is judged safe enough, but may not have that “just baked” freshness.

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