Hope for your financial life and beyond

Save Money on Food by Ignoring the Best By Date

Have you ever wondered about the best by date on food? I learned something recently that made me rethink what I thought about that. It all happened the other weekend when I took our church youth group to the Georgia division of the Midwest Food Bank.

The Midwest Food Bank is a faith-based organization whose mission is to alleviate hunger and poverty by gathering and distributing food donations to not-for-profits and disaster sites without cost to the recipients. They distribute nearly $7 million dollars of food each month – food that is donated by food manufacturers, distributors, grocers, community and organizational food drives and from individual donors.

best by dateSeveral times during the night the kids noticed the items we were packaging looked old. The mini-Snickers bars we were counting by the thousands had Valentine’s wrappers on them. The cardboard packaging of the Cheez-It boxes was crushed and the Pop-Tarts boxes were open.

The director explained that as long as the interior packaging is not compromised the item is safe to use. He also mentioned this astonishing fact – Americans throw out 40% of the food whose label says it’s past it best by date. That’s millions and millions of dollars worth of food being discarded each year.

But should all that food be thrown out? How do you know whether it’s safe to eat?

As you are going to see it all depends on the wording.

Understanding Food Product Dating

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40 Money Saving Tips That Also Help Preserve the Environment

I’m not a “SAVE THE PLANET!” type of guy. I fail to see how the earth is in any danger of being destroyed or irreparably harmed by the progress of mankind. I don’t worship the earth, view it as our Sacred Mother, or think it has a higher priority than the people who live on it.

money saving tipsBut I’m also not a “slash-and-burn” guy. I don’t believe progress should come at the blind expense of what it does to the earth. Nor do I hold to the theory – often expressed in religious circles – that since the whole world is going to burn in the end we can do with it now as we please.

I see extremes when thinking about either of those positions. To me a more balanced approach is called for that recognizes and supports the need for human progress and at the same time develops constraints for the purposes of conservation.

It’s more about wise stewardship than saving or using/abusing.

To that end I believe there are certain issues on which SAVE-THE-PLANET-guy and slash-and-burn-guy could even agree.

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How We Save Money on Healthcare

Enjoy this post today on healthcare by my good friend Laurie from The Frugal Farmer.

Brian talked recently about the 5 lessons he learned from his recent surgery. Brian is an active guy, and I can only image how much fun he had being sidelined a bit by his torn meniscus and the subsequent surgery. Not to mention the money it costs these days for anything from a simple doctor appointment, a necessary prescription drug or, as in Brian’s case, a surgery.

Not all medical expenses are avoidable: there are many diseases and conditions for which medical treatment (so far, anyway) is the only known help. However, there are many health conditions that are in our control, and many ways for people to cut down on their share of the 3+ trillion dollars that Americans spend on healthcare each year.

4 Ways to Cut Down on Healthcare Costs

Here are some of the things our family does to cut down on annual healthcare costs.

#1: Eat Well

I know most people don’t like to hear it, but a diet that consists of a large amount of fresh vegetables and fruits, healthy fats and minimally processed foods can do wonders for a person’s health.

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Would You Use Cheap Toilet Paper For a Penny?

Would you save money by buying ultra cheap toilet paper? I had an encounter recently at the grocery store that led me to consider it.

Several weeks ago I’m in the checkout line waiting to pay for my groceries. As I’m loading the items onto the conveyer belt a sweet, older lady steps in line behind me. She had only a few items in her hand to purchase so I immediately felt bad that she would have to wait for me – because I had a fully loaded shopping cart.

cheap toilet paperShe began to comment on the size of my haul to which I’ve come to have a standard reply – “Yeah, it takes a lot when you are shopping to feed six.” But then she began to analyze my purchases. Evidently I’d done really well that week, as she was excited to see fresh fruits and vegetables in my cart and the assortment of buy-one-get-one products I snagged.

Then she asked me if I’d got “the penny item” on sale that day. I had a vague recollection of seeing somewhere along the way that my store promoted a penny item but I’d never paid attention to it. I don’t usually coupon so stuff like that is never on my radar.

So I told her, “No, I missed that” to which she proceeded to tell me that it was a four-pack of toilet paper. Not only that but she would go get me one if I wanted it.

Oh boy…what to do?

Should I Let Her Get the Cheap Toilet Paper?

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Saving Money Throughout College

Enjoy this guest post today from my blogging friend Glen at www.howtosavemoney.guru.

glasses and highlighter resting on bookAs Brian has been talking all things college lately, I thought I would chime in with my own take on how college students can save money.

Avoid borrowing more money than you need

When I was first told that people in the US borrow money to go and live on campus (essentially borrowing to pay rent), I actually couldn’t believe it. Not only that, but my friend (who is from the US) told me that it is common place for students to do this.

I live in Australia, and while there certainly isn’t as many colleges to choose from as there are in the USA, the idea of getting a loan to pay for accommodation close to college just wasn’t an option.

Instead, I decided that I would attend a local college and utilize the public transport system to get to and from my classes. I had to plan my journey to fit within the transport timetable, but I also saved so much money.

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4 Sneaky Ways to Save More Money and a Giveaway!

Enjoy this guest post (and giveaway!) by Brent from VOSA. Brent’s a world record holder, inventor, engineer, entrepreneur, world traveler & eternal optimist. You can read more of his writing about personal finance, entrepreneurship and travel at VOSA.com.

shoes and tv

Do your personal finance habits have you lost?

Left sock, right sock. Left shoe, right shoe. Right shoelace, left shoelace.

That’s the routine I’ve followed when putting on my shoes for as long as I can remember.

It’s so engrained into my mental and muscle memory I literally have a hard time doing it any other way even when I try.

Now I’m sure there are some behavioral psychologist reading this saying “claaaasssiiic O.C.D.”.

O.C.D. or not, habits like this rule our lives more than we know it.

Just think about how you put on your shoes, or the first three things you do every morning when you wake up, or how you respond when someone ask you “how are you?”

Chances are, that you too, have some standard routines that you weren’t aware about until just now.

Don’t get me wrong, habits are a great thing. They allow us to save mental capacity for when we have to make bigger and more important decisions than which sock and shoe I should put on first or weather you should brush your teeth before or after your shower in the morning.

Studies have proven that willpower is a finite element that you can exhaust over the course of a day.

This is why you’re more likely to eat that piece of cheesecake at 11 PM after a long and stressful day compared to 9 AM when you’re putting out fires and savings lives at your day job.

How Habits Form

Knowing how habits can govern your actions can help you financially. In this post I’m going to focus on four different sneaky ways to use habits to save more money.

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Guess Which Age Group Is Starting To Save?

Young woman with broken down car

Will you have enough saved if this emergency happens?

You may have seen this article last week in the Wall Street Journal that detailed the current status of Americans and their emergency savings. I probably don’t have to describe to you the article’s tone. Your intuition tells you it was filled with negative statistics.

The study from Bankrate.com showed that:

26% of Americans have no emergency savings…

66% of Americans don’t have the recommended six months of expenses saved…

Those with enough saved to cover expenses for three months shrank to 40% in 2014, compared to 45% in 2013 and…

Only 46% of those earning $75,000 or above have six months of expenses saved.

That last one is especially disturbing. $75,000 is a fine yearly income. That equates to 300k earned in 4 years time, assuming no raises or bonuses. Throw a tax refund or two in there and you are telling me 54% of the people in this situation can’t save six months of expenses in four years? That’s fascinating.

Of particular note, guess who the most likely savers are turning out to be according to the study?

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After 7 Years of Wedded Bliss We Are Dumping Costco

Costco wholesale warehouse entranceSeven years ago, I was introduced to and fell in love with Costco. For those who may not be familiar with its format, Costco is a membership only wholesale warehouse club that sells a wide selection of merchandise in bulk sizes. It’s a giant of a company coming in only behind Walmart on the 2014 list of largest U.S. based retail stores for total worldwide sales.

The allure of Costco is palpable the moment you walk in the doors. Big open spaces, big shopping carts, big packaging, big slices of pizza at the food court…it’s all big. Add to that the big savings of buying in bulk and you have a shoppers dream.

Indeed, I was intoxicated all those years ago at its format and the prospect of saving money. “Look how much we are saving on diapers!” I remember exclaiming the first time we shopped there. It only took one trip for me to become hooked.

Two years ago the unthinkable happened. I began to fall out of love with Costco. The reason was simple…the company began to rethink its target audience.

Costco Business Centers

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How We Are Paying For Summer Vacations With Cash

summer vacations

Niagara Falls

Our school is out for the year, so for me that means summer has arrived. I know the official start date of summer here in North America isn’t until June 21st. The astronomers and weathermen can push that date all they want. Once the kids start sleeping until 9 am or later, I know something has changed.

Summer brings with it summer vacations, which our family thoroughly enjoys. We usually take one big trip (a week+) and one short trip (3-4 days) each summer. This year will be no different as we will be embarking on a week long trek from Atlanta to Niagara Falls and back, followed later in the summer by a weekend cruise to the Bahamas.

Neither of those trips will be cheap, although we did get an incredible deal on the cruise (more on that in a moment). Nevertheless, we won’t be going into debt for either of them. All our vacation expenditures will be paid for in cash (through using our debit card).

How are we doing that?

Two words: “planning” and “saving.”

Summer Vacations With Cash

Here’s how we pay for all our summer vacations with cash:

Early Planning Leads to Deals

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6 Awesome Lessons for Managing Through a Financial Crisis

Hidden Nuggets #32 – “Then Pharaoh said to Joseph, “Inasmuch as God has shown you all this, there is no one as discerning and wise as you.” – Genesis 41:39

financial crisis

Will you be prepared for the next crisis?

At some point in our lives we will face a financial challenge. Perhaps it will reach the level of severity that we would deem it a crisis. Where the financial crisis will come from or how long it will last, we will never know. However, this is for certain – one will be coming and we will have to deal with it.

That fact alone should give us an incredible incentive to plan.

The life story of the Biblical character Joseph would make Hollywood giddy with the prospects of a full-length motion picture. The plot has everything you’d want: from family conflict and deception to seduction, slavery and redemption. Joseph faced it all. And it’s in his redemption phase where we learn a great deal of what it’s like to plan for and through a financial crisis.

The Bible describes a time where the Pharaoh of Egypt had a series of dreams as he slept one night. Pharaoh knows the dreams hold significant importance but he, nor his magicians can interpret the imagery. Enter Joseph, a man whom God had already blessed with the ability to decipher a dream’s meaning.

Joseph listens as Pharaoh shares the dream sequence. Then, with Godly assistance, Joseph explains to Pharaoh the good news and bad news:

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18 Ways to Reduce College Costs, Plus One Huge Bonus Tip

In case you missed it, in Part I of this series covering college costs, I talked about the five most popular ways students pay for college.

college costsThe focus today will be on reducing the total college costs in whatever way possible. Of course things like scholarships, grants and military funding are all givens as I discussed in Part I. But what other practical things can a student do to bring down college costs?

I’ve divided the cost cutting topics into three categories: things that can be done in high school, things that can be done in the preparation phase and things that can be done while enrolled in college.

And at the end I’ll provide one bonus tip on how to dramatically reduce the cost of college.

Cut College Costs While in High School

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