The five Simple Mom readers who’ve won an Inkubook photo book of any style and size are:

• Kim, who’s reading The Creative Family by Amanda Soule
• DeeAnna, who’s reading Bend in the Road by Nicholas Sparks
• Julie Weaver, who’s reading Harry Potter in French (impressive!)
• Kealoha Kagawa, who’s reading Louder Than Words by Jenny McCarthy, and
• Nikki, who’s “reading blogs - nothing else” (I understand completely)

Congrats! Be looking for an email from me soon. And everyone else, don’t forget you have until November 30 to create your own free digital scrapbook. When you use the code PBK266, all you have to pay for is shipping. When you create your account, use the “invite others” feature to have others create an Inkubook account, and they’ll get a promotion code for a free book, too.

Check back here tomorrow, where I’m reviewing quite a few of the same thing, each from different companies. And several of you will get a chance to win some! They’re eco-fabulous.

• Planners LTD - A convenient way to organize your ideas for the holidays


• Chickpea Designs - Order your Christmas photo cards now and save


• Shopwise Bags - Artisan grocery bags & housewares


• Annie & Olive - Little handmade goodness

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It all started when I got an email from David at My Two Dollars who was looking to compare self employed tax deferral options for his own business. As I was pointing out some pros and cons, I realized that I could use one of these myself!

Even though I’m beginning to withdraw retirement contributions, instead of contribute them, I remembered that it would allow me an easy way to facilitate my unconventional Roth IRA strategy to lower our tax bill.

Contribution Deadlines

One of the big advantages over a traditional 401k, is that you don’t need to contribute until your tax filing deadline (plus extensions). It will open up an option to shelter additional money, if needed, after you file your taxes.

The deadline to set up a new plan is December 31, however, you don’t need to make any contributions when you set it up. I don’t plan to make a contribution until we know exactly how much we will need to defer at tax time.

Calculating Contributions

The contribution limits for 2008 are:

• $15,500 deferral of your pre-tax income (less any contributions made to a 401k at your regular job).
• Profit sharing contribution up to 25% of your pay, with a maximum of $46,000.
• Total contribution is the sum of the deferral and profit sharing, limited to 100% of your pay.

Because of the two different types of contributions, it can get a little tricky to figure out, because you must account for self employment tax in the calculation. Here is a helpful calculator to determine your maximum contribution.

Selection of Administrator

I chose the self-employed 401k at Fidelity, mainly because Vanguard didn’t offer one when I set it up a few months ago. (Now they offer one.)

Fidelity has great fund choices for low cost index funds, and no plan fees. My Money Blog also completed a review that confirmed my research.

The only downside is that to access the index funds with .10% expense ratio, you need a minimum of $10,000 in each fund.

The process to set up the plan was easy. I couldn’t do it online, but I filled out the forms and sent them in. My new accounts were established within a week. It was painless.

Solo 401k Tidbits

Reporting. Once the plan reaches $250,000 in assets, you must complete a Form 5500. I used to complete these for clients back when I worked in Employee Benefits, so that shouldn’t be a problem.

Employees. The solo 401k is for you and your spouse only. Part-time employees who work less than 1000 hours per year can be excluded.

Pros and Cons. Checkout a complete rundown on the pros and cons of a solo 401k at Chance Favors.

Other Self Employed Tax Deferral Options

I selected the solo 401k, mainly because it usually gives the option to shelter as much income as possible, allowing more room to execute various tax strategies.

If you have a small business, there are other options you can consider including a SEP IRA and Simple IRA. Here is a great comparison of all three.

Thanks to Patrick at Cash Money Life for reminding me that I needed to write about my solo 401k!

This is an article from My Dollar Plan.

• 2009 Roth 401k and Roth IRA Limits
• 7 Moves You Haven’t Made in Your 401k
• Public Employees can Double-dip on Retirement
• Roth 401k: What Is It?
• 2008 Roth 401k and Roth IRA Limits

Check out our new CONTESTS BLOG updated daily with free sweepstakes entries from around the web!

Quitting is not the same as failing, but it is scary

If it scares you, it might be a good thing to try.  ~ Seth Godin

It is often frightening to let go of something we have committed to doing.  We have been trained to equate quitting with failing.  This is simply not true.  Seth points out that sometimes winners do quit.  In fact, most winners have quit a lot of things to get to where they are.

Often, it takes quitting one thing to pursue something better.  We may need to quit to take the next step toward our dream.  Here are a few examples:

• You quit a job that is no longer rewarding or moving you forward to find another job that will take you to the next level.
• You quit offering certain products or services so you can focus all your effort in your core competency.
• You quit a business before it completely drains your bank account so you can pursue a new opportunity.

Quitting is not the same thing as failing.  It is simply a change in tactics.  It is a change in strategy.  We don’t give up our ultimate dream when we quit.  We just pursue it from a new angle.

How do you know when to quit?

You should quit if you’re on a dead-end path.  You should quit if you’re facing a Cliff.  You should quit if the project you’re working on has a Dip that isn’t worth the reward at the end. ~ Seth Godin

This is the crux of the issue, isn’t it?  How do you know when to quit?  If we had a crystal ball, it would be easy, but we don’t.  We can’t see into the future.  However, Seth Godin believes as I do that deep down inside we usually know.  At the very least, if we don’t see it everyone else around us does.  Ask around.

Seth says there are two main situations we need to recognize to know to when to quit immediately.  They are:

• The Cul-de-sac - This is the situation where you work and work and work and nothing much changes.  No matter how hard you push, people just aren’t buying what you’re selling.  Lots of people get stuck here.  The dead-end job is the proverbial cul-de-sac.  You are stuck and there is no way out.  The only solution is to quit.
• The Cliff - The Cliff is the situation where you can’t or won’t quit until the whole thing falls apart.  This is riding a business into bankruptcy or staying with a failing job until you find yourself out on the street.  The pain of quitting the Cliff just gets bigger and bigger over time.

If we find ourselves in either of these two circumstances, then Seth advises us to quit immediately.  Do not pass go, do not collect $200, just quit as quickly as humanly possible.

The Dip is the weed out zone

If you want to be a superstar, then you need to find a field with a steep dip.  ~ Seth Godin

The Dip is the valley between the honeymoon of starting up and achieving real success.  Every worthwhile venture has a Dip.  It has a time when reality sets in and we start questioning whether the pain of continuing is worth the reward at the end.

I relate to this most easily by thinking about the weed out classes in college.  Almost every degree program worth pursuing had a class widely labeled by students as “the weed out course”.  It seemed that the course was designed to be exceptionally challenging in order to weed out the students that weren’t fully committed to the program.  It was a test to see if you could cut it.  It was the Dip.

Becoming a doctor has a Dip, it is called medical school.  Becoming a professional athlete has a Dip, it is years and years of training.  Becoming CEO has a Dip, it is committing yourself to exceptional performance over the long haul.

Everything worth doing has a Dip.  If you quit in the Dip, then you give up all the rewards on the other side.

Things to ask yourself before quitting

Realizing that quitting is worth your focus and consideration is the first step to becoming the best in the world.  ~ Seth Godin

Seth Godin goes even further to help us recognize when to quit.  He gives us three easy questions to ask ourselves.  They are:

• Am I panicking? - We often quit when a painful or particularly scary moment hits us.  This can be dangerous and expensive!  Quitting when panicked is the path of the weak.  Quitting in the Dip could be a bad move.
• Who am I trying to influence? - Who is it that you have to convince to get what you want?  Make sure you are clear about this and think about what might change their minds before giving up.
• What sort of measurable progress am I making? - In any situation, you are either moving ahead, falling behind or standing still.  Which is it?  If you are still moving forward just slower than expected, then you may be in the Dip.  If you are putting forth a lot of effort and you are not moving forward, then it is probably time to quit.

These three questions should help you discern where you’re at.  Remember, those that succeed know when to quit!

Go ahead and quit your way to success!

Is doing nothing better than planning on quitting and then doing something great?  ~ Seth Godin

We can waste our lives in dead-end jobs, failing businesses and archaic industries or we can quit and do something remarkable.  Which is it going to be for you?  I know that quitting isn’t as easy to do as it is to write about, but what is the alternative?  Doing nothing is safe, but where will you be in another five years?  In the same place?  Quitting and pursuing something with a big Dip might just pay off!

Should you quit?  What has been your experience with quitting?

Photo by slopjop

Buffets are designed to do only two things:
1. Take your money.
2. Fill you up … quickly. Nutrition has nothing to do with it, but there are some healthy choices you can make.

Here’s some buffet secrets:

Buffets will give you oval plates that seem large, but since you don’t use plates like these at home, you aren’t always aware that they’re smaller. When you’ve filled one up twice, you probably still aren’t caught up to just one dinner plate from home.

Buffet plates tend to be shallower than the plates you use at home. You just can’t heap up the mashed potatoes and turkey tetrazzini like you can at home. Those little dessert dishes never seem to hold enough for me either…

Buffets love for you to drink sodas. Those fizzy bubbles tend to fill you up and make you eat less food. And besides, sodas are cheap! To make you drink even more, a buffet will over season many foods so you get and stay thirsty.

Buffets want you to eat lots of those big fat yeast rolls. Bread is relatively cheap when compared to meats.

Buffets will take their time in removing empty plates from your table. Five people eating at a buffet, two trips each = 10 plates. When your next door neighbors walk by, they will think you have some sort of eating disorder! Result: you leave sooner (or you bus your own table).

Buffets use uncomfortable chairs. An aching backside will make you long for the sweet comfort of your car’s bucket seats with the fine Corinthian leather.

To get the most from a buffet, look for the highest quality, freshest food you can find. Buffets can be worth it when they give you a nutritional punch, but to get that, you gotta avoid the overcooked, deep fried, high fat hog slop that characterizes so many. Opt for raw vegetables if they’re offered, baked chicken or fish, salads, and fresh fruits or sorbets for dessert. Personally, one of my favorite buffets is the mega salad bar, you know, the one with 9 different kinds of lettuce and greens and that has a dedicated salad bar attendee constantly bringing out fresh vegetables? By making selections like this, “all you can eat” isn’t really that bad!

photo credit: heldr

Technorati Tags: buffet, food, restaurant, eating out, dining out, maximizing money

You might also like:

• Smart Moves and Hedges in a Bad Economy
• What If I Don’t WANT To Retire?
• Money is 100 Percent Emotional
• Think Outside the Grocery Store Box
• Get Over It: 10 Challenges President Elect Obama Faces Going Forward

This year, The Home Depot has 17 holiday gift card styles to choose from including a scratch-n-sniff gingerbread man that can be decorated with stickers, and a card that looks and feels like it is covered with every handyman’s wrapping paper–duct tape (my personal favorite).

Rules for entry are similar to previous contests here at Frugal Dad.

How to Enter The Home Depot Gift Card Giveaway:

• Leave a comment on this post sharing your favorite holiday memory (be sure to complete your email address in the comment entry form).

Comments feature will close at 11:59pm(ET) on Saturday November 22nd. I will announce the winner on Sunday, November 23 and contact you via email. Each commenter or email will be assigned an entry number, and winners will be selected using Random.org to select a random number from the total number of entries.

Good luck!

*The Home Depot gift card can only be used in the United States, but international readers are welcome to enter the contest if they would like to pass along the gift card to a friend or relative living in the United States. No email addresses collected as part of this contest will be shared with any 3rd parties.

Post from: Frugal Dad

But believe it or not, there actually ARE reasons you may not want to retire.

1. You may really enjoy your work. If your work situation provides challenges, some fun, and a healthy dose of interest and respect to you, leaving those behind to putter around the house and carve old fashioned Santa’s will be a mistake. If you have a passion for solving problems, retirement may not be your best bet.

2. Your skills and experience may be in higher demand than ever. With an anticipated shortage of knowledgeable workers just around the corner, you may find that your need to be needed is nicely fulfilled by companies who genuinely DO need you.

3. Remaining in the workforce pays … literally. No matter how small the income your job generates, it will stretch your resources to fund a longer retirement down the road … should you desire make extra money to pad your retirement resurces!

4. By continuing to work, you delay tapping into your retirement accounts. A delay of several years can mean a bigger payout over time. Waiting to access your Social Security benefits, your 401(k), or other retirement accounts allows them to grow all the more, potentially allowing you to lower your withdrawal rate (if you haven’t saved enough) or allow you to withdraw more (if you have saved enough).

5. If you wait until 65 to retire, you can potentially maintain your healthcare coverage. Some experts say that a 65-year-old couple retiring today would need some $200,000 in extra savings to cover basic medical costs. By delaying, you save on individual premiums and allow your nest egg to grow.

6. Speaking of your health, according to the National Bureau of Economic Research, complete retirement leads to an 11 percent decline in mental health, an 8 percent increase in illness, and a 23 percent increase in difficulty performing daily activities over a six-year period. Continuing to work keeps your mind sharp, your joints flexible, and your muscles limber.

7. Continuing to work may be better for your marriage. The Power Years: A User’s Guide to the Rest of Your Life says that couples think about their retirement years in terms of finances or long-delayed travel plans, but what they often neglect to prepare for is how to handle so much togetherness. Experts say that constant togetherness magnifies any existing problems and can bring long running tensions bubbling to the top. That closeness means more chances for daily battles with no office escape.

8. With no job demands bearing down, many retirees feel a loss of connectedness. For some, that isn’t so bad, but for many others, that loss of people to talk to about Monday Night Football or Dancing With The Stars at the water cooler is awful. The American Association of Retired Persons (AARP) cites multiple studies that depression is a rampant but often overlooked problem among retirees and that the loss of connectedness is a contributing factor.

9. Deciding to continue to work opens the door to more options. By not retiring, you might be able to start an entirely new life. You can teach, you can turn a hobby into a business, you can consult, you can try out a whole new career path. If you have saved enough, you can move to the coast, chase your grandchildren (if they’ve moved away), become a Grand Canyon tour guide, start a Bed and Breakfast Inn, or any one of a number of things. Working for a longer time doesn’t mean you have to continue doing exactly what you’re doing now, you CAN start another job if that is your choice.

10. Though many people cite financial reasons for not retiring, it all boils down to the desire to make a meaningful contribution. AARP says that 79 percent of all baby boomers plan to never retire. Some researchers have found that workers over the age of 50 actually are more engaged in the workplace than their junior peers in terms of time, dedication, and energy. We have a deep need to be involved, to voice our opinions, to make a significant contribution, and to feel that our efforts are important.

Retirement doesn’t have to be the end, it can be a whole new beginning. Don’t get backed into the corner of thinking that retirement is just waiting to die. It isn’t just sitting around becoming an expert on Oprah, You may decide, like so many of your peers, that retirement can be the greatest time of your life by continuing to make contributions to life, to a company, or to society.

Retirement can be the opportunity to make your life exactly what you want it to be.

Resources:

• Don’t Retire, REWIRE!
• Too Young to Retire: 101 Ways To Start The Rest of Your Life
• How to Retire Happy, Wild, and Free: Retirement Wisdom That You Won’t Get from Your Financial Advisor
• Retire Retirement: Career Strategies for the Boomer Generation

photo credit: lexdennphotography

Technorati Tags: retire, retirement, vacation, money, work career, job

You might also like:

• Turning Around Your Financial Life (Part 2 of the story)
• 7 Common Interview Questions For The New Graduate (or anyone else)
• Is Your Job A One Hit Wonder?
• Smart Moves and Hedges in a Bad Economy
• Say I love you By Being Negative

Preparing to lose your job is much easier if you still have a job. Why not take action right now to handle a job loss with more financial certainty?

Benefits

Investigate health insurance costs. Familiarize yourself with COBRA rules and find out what the premium will be from your HR department. In addition, get a quote for private insurance, now. If you have a medical condition, that you know the only way to afford health care is on a group plan, find out exactly how long you will have before you need to have another job.

Evaluate your entire benefit package. What other company paid benefits would you lose? Life insurance, disability insurance, a company car, etc. What back-up plan do you have in place to replace these benefits or go without?

Determine if you’ve really accrued some benefits. Are you vested yet in the retirement plan? What will happen to your sick leave, vacation, and any future bonuses? Make sure you understand which items are accrued and will be paid out, and which ones you will lose.

Beware of unintended consequences. Do you have 401k loan out? If so, you would be forced to pay it back immediately, or face penalties. Brainstorm other costs you might incur without active employment.

Cash Flow

Put together a budget. Actually, make two. The first is how much you’ll need to keep your desired spending level. The second is the “absolute minimum” you’ll need to keep going.

Calculate money on hand. Figure out how much liquid money you can get your hands on in a week, a month, and three months. Consider your emergency fund, savings, and any other sources of income that you can reasonably tap. What penalties will you have to pay to access the money?

Educate yourself on unemployment rules. They vary by state. Determine how much you would be eligible for, what filing requirements are, and obtain any documentation you might need. In addition, find out the impacts with a partial work arrangement.

Brainstorm alternative income. In the situation, how much additional money could you generate from various side jobs or money raising efforts. It’s much easier to make the list now to use as a resource in the future, than starting from scratch in a state of panic. In addition, look for other ways to save money in an emergency.

Calculate your time frame. How many months can your money (liquid savings, unemployment, alternative income, etc.) meet your absolute minimum? This is the most important piece of information. It’s your time line and knowing it ahead of time will prepare you to not waste any time taking action if you know how long you can last.

Take Action

Negotiate. Be prepared to negotiate a severance package, if one is offered. Know your most important need and be ready to negotiate for it when the subject of a severance package is discussed. While it’s probably a long shot at a large company, it may be worth the effort at a small company, especially if you have a good relationship with your employer.

Discuss options. Inquire about the possibility of other positions, part-time work, or relocation options. Don’t let someone assume that you wouldn’t be interested in another opportunity.

Ask for assistance. Find out about available programs for retraining, job placement, or employee assistance. Don’t be afraid to use these programs.

Evaluate financing. Evaluate the long term stability of your loans. Is now the right time to lock in fixed rate financing? Remember, it will be very hard, if not impossible to refinance without a job.

Diversify your income. Now is a great time to set up some alternative sources of income so you are less reliant on your current job. Before I left my job, we were actively working on diversifying our income.

Check your credit report. Make sure there are no errors on your credit report (get a free copy). A future employer may check your credit and the last thing you want to deal with is an error.

New Job

Update your resume. Work on it now to polish it up so it’s ready to go. Be sure that you can make yourself marketable outside your current company.

Create your networking list. And take it home! Touch base with your contacts now to check in.

Watch job postings. Many times people see the writing on the wall before it happens. Keep your options open.

Retrain yourself. Would you consider or be forced to change your line of work? If so, start pursuing the training now (and maybe even get tuition reimbursement from your current employer.)

Self

Prepare yourself mentally. It’s hard for me to comprehend what it feels like because I haven’t faced the same situation. Watching a family member go through the process right now has shown me that you might experience a flurry of changing emotions: self-doubt, sadness, anger, fear, etc.

While you can’t prepare yourself to know exactly how you’ll feel, you can prepare yourself that you may experience a range of strong emotions. Some can interfere with your ability to focus, so it’s good to prepare lots of the above tasks ahead of time. Create a support network of family and friends to help you through it.

Have you gone through a job loss? What do you wish you would have done ahead of time to prepare?

This is an article from My Dollar Plan.

• Be Prepared to Retire in Two Weeks!
• Diversification of Income
• 7 Sneaky Ways Your Health Insurance Can Save You Money
• Saving on Insurance Premiums
• End of Year Tax Planning and Finance Checklist

Check out our new CONTESTS BLOG updated daily with free sweepstakes entries from around the web!

Changing our attitude and beliefs toward an area of life that is an obstacle to our success will change our behavior and therefore change the outcome.  Continually doing the same thing over and over again and expecting a different end result is crazy.

Are there areas in your life where you have hit a glass ceiling?  Does it seem like you keep trying and trying, but fail to make any progress past a certain point?  Are you frustrated that you cannot get ahead in an area of your life?  Read on!

How can we change our thoughts to overcome obstacles?

Changing how we think about certain situations in life is often difficult, but essential.  Otherwise, we end up continually fighting the same problem repeatedly without ever making any progress.

As an example, we seem to get into the same arguments over and over again with our spouses.  We feel stuck in dead-end jobs.  We continue bad habits even though we know they aren’t good for us.  Why?  Because we persist in looking at the problem from the same angle.  We cling to inaccurate or incorrect thinking without really reevaluating our position.

It often seems that changing our point of view is almost impossible.  How can we change the way we think about these things so we can overcome these obstacles?  I ran across an illustration that I think will help.

Imagine that you are holding a glass of dirty water in your hand.  It’s full of all kinds of particles, sand and dirt.

If you were to pour fresh, clean water into that glass continually and just let it overflow, eventually all the dirty water would be gone.

All you would have left would be the pure, clean water.  And you wouldn’t have to really do anything to get rid of the dirty water except allow the new, clean water to flow.

~ Joel Osteen

Overcoming obstacles is easy once we understand

You might want to reread the quote above.  Isn’t it amazing?  It basically says that we can overcome the biggest and most difficult obstacles in our lives very easily.  All we have to do is allow the pure, clean water to flow into the place where our impure thoughts exist.

We just need to continually pour the right thinking into our minds so that it eventually forces the inaccurate thoughts out.  In other words, we can retrain our thoughts by simply repeatedly and frequently filling our minds with the right thoughts.

We can essentially brainwash ourselves to behave in anyway we want.  It just takes good input, an open mind, and time. 

Start to retrain your thoughts for success

Give this a try.  Choose an area of your life where you seem stuck.  It could be your marriage, your finances, your career, or your relationship with your children.  It can be any area of your life.  Just pick an area where you want to experience more success.

Once you’ve chosen the area, then start locating the fresh, clean water.  Find new inputs that will help you change your thinking.  Please realize that you need new inputs with a point of view that is different than what you hold now. 

You need to change your thinking and the only way to do that is to fill you mind with new thoughts.  Don’t choose inputs that simply reinforce the way you think now.  It won’t help.  Instead, find people that have already accomplished what you hope to accomplish and then find out how they did it.

Go fill your mind with their thoughts.  If you want to be a millionaire, then find someone with lots of money to talk to.  If you want to be a great spouse, then find someone that has been successfully married for 50 years.  If you want to become CEO, then find heads of companies and ask them how they did it.

How to keep pouring the right thoughts into your mind

It is likely that you will need to keep pouring the right kind of thinking into your mind for weeks, months and maybe even years before you will succeed.  How do you do this?

You can’t sit with a person 24 hours a day.  Therefore, besides just finding others who have succeeded in the area you have chosen, you also need to find other inputs.  Of course, you want to be sure that you only follow the advice of those who have already accomplished what you want to do.  This is crucial. 

Here are some ideas:

• Read books by successful people in your chosen area
• Read good blogs
• Join a group, club or association
• Locate free videos on YouTube on the subject
• Listen to talk radio shows
• Find a friend with the same interest to trade ideas
• Do all of the above and more!

Obstacles will disappear once we see things clearly

The dirty water will eventually disappear if we keep pouring in the fresh, clean water.  It will take some time, but we can retrain our thoughts and overcome the obstacles that have held us back.  Follow others that have gone before you and learn to think like they do.  This is a surefire way to think your way to success!

In what areas do you need to retrain your thinking to overcome obstacles?

Other articles that might interest you:
Top Ten Tips To Overcome Obstacles to Success
Gaining Perspective Helps to Achieve Excellence in Life
Resist Change At All Costs Even If It Is For The Better

Photo by DISC0STU

You’ve all heard the predictions about home heating costs going up this winter

• Save Money Up-front: Not only are most gel fuel fireplaces inexpensive to purchase, but they are also extremely easy to maintain, which translates into less money spent on repairs. Gel fireplaces are perfect if your home isn’t already equipped with a traditional fire place, or if you are looking for a much less expensive, lower maintenance home heating option. Free-standing gel fireplaces are also super easy to install yourself, with most taking no more than an hour or so. While you can purchase a recessed gel fuel fireplace insert to replace an existing fireplace, these free standing units are just as attractive and a lot easier to deal with.

• Breathe Easier: Not only are gel fuel fireplaces easy to install and maintain, but they are vent-less and do not emit smoke, toxic fumes or odor. Highly heat and energy-efficient, gel fuel fireplaces comply with all of the industry’s safety standards; gel fuel itself is a cleaner burning fuel than traditional wood and gas stoves. Gelled alcohol fuel burns clear, smoke-free and a can last anywhere from 2.5 to 3 hours. And for added peace of mind, gel fireplaces are free of the dangers of harmful combustion of toxic products.

• Stay Cozy and Warm: A majority of gel fireplaces produce an average heat output of about 3,000 BTU (British Thermal Units) which is actually comparable to many electric fireplaces on the market, perfect for heating a modestly sized room.

• Complement your Home Decor: Available in a variety of finishes and styles, gel fuel fireplaces can blend in with any home decor. From modern to traditional, black, white or natural hardwood - you’re sure to find the gel fireplace that suits your style. For even more versatility, opt for a portable fireplace.

• Alternatives to Gel Fuel Fireplaces: As far as frugal home-heating options go, gel fuel fireplaces aren’t an end-all-be-all. Another viable option for you to consider is a pellet stove. If you’re dead set on having some kind of a fireplace, there are some recessed pellet fireplace inserts available, however pellet stoves are more commonly used. Instead of using gel fuel, gas or wood - pellet stoves burn pellets made from recycled sawdust, wood chips, bark, agricultural crop waste, recycled paper or other organic materials. Pellet stoves have a much higher combustion rate than wood stoves or gas fireplaces and are the cleanest of all solid fuel-burning heating appliances. Most pellet stoves have an average heat output of between 8,000 to 90,000 BTUs and are suitable for homes, apartments and condos. Unlike gel fuel fireplaces, however, most pellet stoves require electricity to power several internal fans. Pellet stoves may also cost more for you to in maintenance and repairs.

However you decide to heat your home this winter, just make sure that you read all of the installation instructions carefully and try and purchase a product with a good warranty. The last thing you want is to be stuck without heat when it’s cold outside!

Photo courtesy of CSN Fireplaces

Post from: Frugal Dad

This is why simplicity is more important than ever.

Just Why Simplicity Is Important Now?

Your opinion is at stake. You need a moment of silence in order to hear your own voice. Opinions are coming at you from all directions. And with marketing becoming more sophisticated, it’s even more of a challenge to distinguish sincere sentiment from paid opinion. You rely on your internal monologue (or your gut feeling) for more decisions, and more important decisions. I truly think that while your analytical process is strengthened by challenges, it needs a silent incubation period from time to time. Granting yourself moments of silence is a chance to get back to thoughts that are truly your own.

Your confidence is at stake. Since micro-cultures are way more visible than in the pre-YouTube era, you have access to people and ideas that previously would have been unknown to you. These can provide opportunities to learn and grow, as well as chances to criticize and doubt. Are you as desirable as that LA celeb? Are you as well-spoken as the off-the-cuff pundit? Are you as knowledgeable and skilled as that newly minted millionaire? If you don’t guard your confidence by focusing on your key priorities, it’s easy to doubt yourself instead of focusing on what’s important in your life.

Your happiness is at stake. Happiness is being defined in a million different terms. As always though, the terms you live by are entirely up to you. With so many different values sets and worldviews, the importance of whittling down your core beliefs becomes obvious. Even happiness research is showing that fewer choices lead to increased happiness. Limiting, or simplifying, the choices and factors in your life is essential.

Your future is at stake. From your mutual funds to your multi-vitamin, there’s no shortage of advice. Listening to it all is possible. Following it all? Not so much. There’s simply not enough bandwidth to follow every bit of advice that comes across your reader. Without a plan for simplifying the input you take in, overload is an inevitability and analysis paralysis is a likelihood. Securing your future–whether that means your legacy of volunteering or your 401k portfolio–is in your hands, and in the choices you make everyday. You can’t take everyone’s advice, making simplicity a key part of controlling (or at least optimistically directing) your future.

Cultivating Simplicity in Complicated Times

So being simple is important. Got it. Where do we go from there? Choosing to live a simpler life is one thing, taking action to do it is quite another. If you’re ready to take the plunge (or dive down deeper), consider focusing on these paths to simplicity.

Create media blackout times with specific parameters. Staying updated and aware of the world around you is a good thing. But like any other good thing, too much of it transforms it to a vice. By limiting your inputs for at least a short period each day, you give yourself time to incubate information, listen to your gut, and remember your perspective.

• Send calls straight to voicemail for the first part of the evening.
• Delay checking your email and feed reader until you’ve completed any creative tasks on your docket for the day.
• Keep the TV turned off for the last two hours before you hit the sack.
• Browse the internet on a timer, and then commit yourself to stepping away from the screen when the time is up.

Encourage independence in yourself and those around you. It’s wonderful to be needed, isn’t it? But there’s a difference between being truly needed and being needed to help your roommate decide what kind of frozen pizza to buy. Encouraging or enabling neediness in those around you benefits no one, least of all you. Your life is simplest when your inner circle isn’t calling you every five minutes for your advice. If you’ve got family, friends, and acquaintances who rely on you to make decisions, you can:

• Ask them leading questions instead of providing answers. “Which is your favorite?” helps them stay in tune with their own opinions instead of trying to anticipate yours.
• Create a buffer zone. If contacts don’t have instant access to you, they won’t be trained to wait on your opinion. This can mean removing yourself from IM for part of the day, checking email only at set times, or screening your phone calls and purposely avoiding your friend’s latest “crisis.”
• Set “office hours.” Give the needy folks in your life when it’s always okay to reach you. It’s like the concept of empty space: by emphasizing what’s there, you simultaneously emphasize what’s not there.
• Be busy. Friends and family aren’t going to be thrilled to hear that you blew off their urgent “What game should I buy?” moments because you were watching reruns of Family Guy. If you were out on a date, spending time with your spouse, or volunteering, there’s less chance of those people in your life feeling left behind.

Carve out time for what you’re most passionate about. On rare occasions, simplicity isn’t about paring down life. In fact, the most important habit in a satisfying simple lifestyle just might be adding value and enjoyment. So as more and more tasks and goals are piled onto your schedule, learn to prioritize the most important ones. Those are things that keep you happy and refreshed, able to enjoy the world at your fullest and most vibrant.

• Keep a happiness journal to figure out what activities you truly enjoy. Write down two to three things you did each day that were your happiest moments of the day and tally them up after a few weeks.
• Schedule in your favorite activities–literally. Don’t just say you’re going to curl up and read a book with the phone turned off. Pencil it in your calendar from 7 to 9. Don’t just talk about how you love to go for long bike rides when you can find the time. Commit to taking that ride at a specific time each week and don’t let anything beyond an emergency take precedence.
• Pay yourself first. Use that classic personal finance mantra as a time management technique and schedule your favorite and most important activities first. Let the inconsequential things slide.
• Start with the best, forget the rest. Why not begin the day with your favorite activity? It won’t get bumped aside, and lets you begin each day on a positive note.
• Be ready to let go. Sometimes our passions change. Be ready to evolve and step away from things that no longer move you. This makes room for new adventures and passions without overcrowding your life.

Let’s go back to the original idea for a moment: simplicity is more important now than it’s ever been. Is that really true? In my opinion, absolutely not. It’s exactly as important as it’s always been: paramount.

photo credit: Son of Groucho

photo credit: lucianvenutian

photo credit: Matt Callow

I love to read. My childhood memories are defined by well-loved books, its pages worn from devouring eyes. I still love reading - but I rarely make the time for it I want.

I also love running my home. I love every part of it - the organizing, the money management, the cleaning (well… okay, not the cleaning), the hospitality, and especially the parenting and establishing a legacy with my husband.

A mom has very little time, and the spare time she does have is often spent prying her eyelids open in order to finish folding the laundry, or to have an adult conversation with her spouse after a long day of work.

We do our best to provide an environment of twaddle-free books, playtime, and learning for our kids. So why do we so often let ourselves have the scraps that fall off the floor?

Won’t we be much more productive, effective, and influential women in our homes if we take care of ourselves?

We need to keep our minds sharp. Learning what happens when we give a moose a muffin is important, to be sure - but so is learning about mutual funds. And how to maintain a compost pile. And how to parent with love and logic. We give our children mental steak. Let’s do the same thing for us moms.

Starting in January, I’m starting a little book club here on Simple Mom. We’ll tackle six books in 2009 - that’s one book every two months. I think we can manage that, don’t you?

It’s called the Sound Mind, Sound Mom Book Club. These books will be practical, full of time-tested wisdom and helpful advice we can apply in our everyday lives at home.

Fiction is great, of course, and I’m all about immersing in a great novel over a cup of joe. But I’ll venture a guess that you haven’t enjoyed a useful book in awhile - and I could wager even more that you haven’t enjoyed a conversation over a useful book with fellow women in an even longer while.

Topics covered will be what’s covered here on the blog - food and drink, green and frugal living, making your home a haven, kids and parenting, money management, organizing, productivity, and taking care of yourself.

Anyone and everyone is welcome to join the book club. It will be geared towards moms, but you don’t have to be a parent to join in the conversation. All I ask is that if you join, you get into it.

I’m still working on the details of how it’s actually going to work, but I’m thinking it’ll be some sort of forum or message board here, with a possible live chat once a month. I’ll cook up some questions based on the book of the moment, and we can take it from there. And I’ve got a few books in mind, but I’m still mulling over a few more.

And if you want to be a part, feel free to share the Book Club’s button on your blog.

Are you up for it? Do you have a book to suggest? What’s one you’ve always wanted to read? Or perhaps you have a favorite you read regularly… Please share your thoughts in the comments!

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It didn’t take long to hear stories from fellow patient’s families who were there watching their loved ones fight to regain their physical and mental abilities. Many patients are young (the center’s average patient age is 34), and it is sad to see so many people with their entire lives ahead of them cut down by an injury or illness. It is also inspiring to watch the human spirit overcome amazing difficulties to restore health to those often not given much of a chance.

The entire experience of nearly losing my mom at 53 years young, watching her fight to regain things we take for granted (sitting up, swallowing, talking, etc.), and now meeting dozens of other people going through similar challenges, has had a profound effect on me. It is rare that a day goes by that I don’t stop to reflect on the things I have to be thankful for.

I know it is a couple weeks early to give thanks for all the blessing in my life, but I felt like sharing them with you now. Some are related to finances, some are not. All are things I wish we would all do a better job of appreciating, while putting aside our own petty differences and problems.

Be thankful for the roof over your head. I don’t care if that roof is rented, mortgaged, or paid for, if it keeps you dry and warm at night you ought to be thankful to have it. It might not be the roof you want, or you might want a bigger roof, but at least it provides some shelter against the elements. If you are not grateful for the roof over your head, drive around the downtown area of any major city in the country and look at the lines filling up for shelters, or those making “homes” from boxes and beds of newspapers.

I’m grateful for my health. Sure, I could stand to lose a few pounds. My shoulder still gives me trouble two years after rotator cuff surgery, and my back aches occasionally from an old football injury. But I am able to walk, talk, work, care for myself, and care for those I love. Our health is definitely something we take for granted until we lose it.

I am blessed to have an income. I have to wonder if the people I’m encountering at the rehabilitation center will ever return to their careers. In fact, my mom’s own ability to return to her previous job remains in question. Without an emergency fund in place, and/or a short-term disability policy, those who are unable to return to their jobs are basically without an income for months until a long-term disability plan kicks in. Even then, they only earn a fraction of what they did prior to their injury or illness. This can be financially devastating to a family, and is a good reminder to shop a short-term disability plan and beef up your emergency fund, just in case.

I am lucky to have a window in my office. I worked six years in a cube farm before taking my current job, and spent the first two years at my current employer working in a storage area with no view to speak of. At least I could get up and walk to the front door,and I could see the outside world during my commute. My mom spent 45 days in neurological ICU, and 17 days in a “step-down” unit before being transported by ambulance to the rehabilitation hospital. Her exit from the back of the ambulance was the first time she saw sunshine in 62 days. Take a minute and look out the window nearest you. Have an appreciation for the things you see–birds, squirrels, grass, blue sky, rain, sunshine, flowers, trees, etc.

I am most thankful for my wife and children. While my mom was in neuro-ICU she was unable to see her grandkids for over six weeks. My kids talked to or saw their “Grandma” every single day of their lives, and keeping them apart for six weeks was heartbreaking. Fortunately, Mom doesn’t remember much of that time, but I do, and I remember my kids crying each night as I returned home from the hospital and told them they still couldn’t go see Grandma. It is a reminder that we should never again take for granted time spent with our loved ones.

Finally, I am grateful for all of you. If you would have told me a year ago that I would start a blog, and have the opportunity to share my daily thoughts with 4,000 subscribers (and thousands of visitors), I would have never believed it. It has been a blast (virtually) meeting so many wonderful people who share a similar philosophy (and a few that don’t), and I’m grateful for the opportunity to interact with you on a daily basis. I hope you get half the enjoyment from reading this blog as I get writing it. My only regret is that I didn’t start it earlier.

We spend a lot of time here at Frugal Dad discussing sacrifices, proudly sharing the things we’ve given up to lead more frugal lives. But every now and then we should all stop and reflect on the things that we do have. I’d encourage you to take a moment today to list a few things you are most thankful for, and feel free to share them with us in the comments below.

Post from: Frugal Dad

After doing a little more research, I discovered the reasons that Canadian banks are so strong: Canadian banks hold reserves of 9.8 percent while US banks typically hold 4 percent and European banks 3.3 percent. What’s interesting is that Canadian banks are required by regulators to maintain only 7 percent reserves. The additional reserves appear to be sound management practices, not regulation. You can’t regulate common sense.

Another reason is that investment banking houses in Canada are held to the same high standards as their regular commercial banks, in stark contrast to US banks, which operate like a mix between a Wild West cowboy, a suckling piglet, a guy who wants to sell you a Rolex from the trunk of his car, and a two year old throwing a fit while screaming “MINE! MINE! MINE!”

Here’s the Top 40 if you’re interested. It’s a shame, but I had to go all the way to 40 to include the United States …

1. Canada
2. Sweden
3. Luxembourg
4. Australia
5. Denmark
6. Netherlands
7. Belgium
8. New Zealand
9. Ireland
10. Malta
11. Hong Kong
12. Finland
13. Singapore
14. Norway
15. South Africa
16. Switzerland
17. Namibia
18. Chile
19. France
20. Spain
21. Barbados
22. Bahrain
23. Slovak Republic
24. Brazil
25. Estonia
26. Austria
27. Panama
28. Mauritius
29. Kuwait
30. Qatar
31. United Arab Emirates
32. Trinidad and Tobago
33. Senegal
34. Israel
35. Portugal
36. Iceland
37. Cyprus
38. Botswana
39. Germany
40. United States

If you’re an economics junkie like me, check out the report. I personally found it fascinating!

If economics isn’t your thing, you can check out some other great articles and posts from the Life Skills Network and beyond!

Apparently not everyone in Canada is a genius! Check out how NOT to sell your house at Quest for Four Pillars.

Over at Frugal Dad, he’s advocating planting trees now to help your energy bills next year. He has some other great ideas to help us use less energy as well.

David from My Two Dollars notes the small changes you can make to save big on groceries. There are some really great tips here!

Sara, who writes at On Simplicity, says that play is the ultimate act of simplicity. The world needs people who are ALIVE and play helps you come alive!

Pete at Bible Money Matters explores 401(k) loans to pay off debt. Considering the tax and future earnings consequences, you probably already know the answer, but head on over to check out the article.

Madison examines rate chasing with high yield savings accounts. There are a lot of options out there. Check out this post to get the latest scoop!

Lynnae is also planning on spending her . She has a great list of ways to get some good deals.

In case you’re wondering, YES! Now IS a good time to be living on a budget. Jeff at My Supercharged Life walks you through the steps.

Tired of seeing those tip jars absolutely EVERYWHERE? So is Glblguy. He wonders if tipping is getting out of hand.

Patrick at Cash Money Life knows