Kitten Heels Recommends....

Although I’ve eased up some on my budgeting, i.e. eating out occasionally versus never, I still enjoy finding ways to save! A couple of years ago, a friend sent me a link for online coupons. The website is www.couponmom.com. Many may have heard of this site since the Coupon Mom, Stephanie Nelson, has appeared on The Oprah Winfrey Show, The View, Today and others. Ms. Nelson has also two books, THE COUPON MOM’S GUIDE TO CUTTING YOURGROCERY BILLS IN HALF and GREATEST SECRETS OF THE COUPON MOM. I’ve not read the book, but am familiar with the website. To start saving, simply sign up with an email address (I use a free “junky” email address that I set up on yahoo.com), pick a password (pick something super simple that you’ll remember), your first name, select your state, and answer one question, and you’ll receive emails with loads of savings. Millions have taken advantage of the savings and best of all it’s free!

According to the site you can cut your grocery bill in half. Since I only shop for one, I’ve not experienced that level of savings, but I’m sure that if shopping for a family the savings would be huge. It really is great because there are online deals, grocery coupons, drug store deals, and even links to Groupon, Living Social and Restaurant.com. Another nice feature is the tutorials on couponing.

I enjoy finding bargains and saving money. I search through the coupons at least once or twice a month and usually always find a coupon that will save me anywhere from .50 up to $2 on items.

This site is not only informative, but also a one-stop shop for savings. Check it out!

Kitten Heels

Real Life, Real Talk, Real Women

PPP's Tip of the Week

As women our financial needs can be very different from men. The following article courtesy of LendersMark.org By Sharon Secor, LendersMark.org Staff Writer talks about financial tips specifically for women.

Thinking About Money: Financial Tips For Women

Different Financial Needs
Women, as a statistical group, have different financial needs than men do. Women, on average, live longer than men do. Therefore, it is essential that women plan financially for their elder years, as the odds are that they will outlive their spouse or partner. The number of widows living in poverty is astounding, but smart, forward-looking financial planning can help to avoid this.

Another significant difference in financial needs has to do with the rearing of children. With the rate of divorce being what it is, many mothers find themselves raising their children on their own. After divorce, it is still the woman that typically experiences a decline in lifestyle and a decrease in financial stability.

Women raising children alone make up a huge percentage of the nation’s poor. Even with child support payments from fathers – something a large number of women do not have the benefit of – the real life, day-to-day expenses involved in rearing children can be overwhelming. For women, particularly mothers, financial planning should take into account this potential. It’s better to be safe than sorry, and if the marriage survives and single parenthood doesn’t happen, then there’s a tidy little nest egg for college, retirement, or a celebration of making it through the good times and the bad times successfully and together.

Financial Tips For Women
Those are just a few of the issues that can make women’s financial planning needs differ from those of men. Here are some tips that take those differences into account:

1. Take the steps to become educated about money and finance in both the broad sense and within your personal life. Be an informed and active part of your family’s finances and fiscal decisions.

2. Invest in yourself. Too often, women don’t make real investments – buy a house, start retirement accounts, engage in serious financial planning and investing – during their 20’s and 30’s or while they are single.

3. Question your spending motives. Don’t fall prey to emotional spending, to using shopping as a means of feeling better when experiencing a period of stress or of feeling down, or something more serious, such as depression. If there is an underlying issue, address it. You and your bank account will be better off.

4. Budget like you really mean it.

5. Recognize that the odds are that, as a woman, your overall earnings are likely to be less. Increase the percentage of your income that you save to offset that difference.

6. Prepare for potentials that are unpleasant to consider, such as marital breakup and single parenthood. Do your best to have separate, private just in case savings.

7. As a woman, you are likely to live longer than your spouse or partner. Be sure that your retirement planning reflects that likelihood.

If you would like to read the full article click here.

Here's to your finances!

Pumps, Purses & Positivity
Real Life, Real Talk, Real Women

A Penny Saved is a Penny Earned!

Have you made mistakes when it comes to your savings? I think we all have. The below article, courtesy of Yahoo!Finance, talks about the top 20 savings mistakes. I have listed the top 5 but please read the entire article by clicking here or on the title to see all 20.


20 Savings Mistakes People Make

It's less costly when we learn from other people's mistakes than if we have to learn them the hard way. We asked Bankrate's newsletter subscribers if they had any regrets related to saving for retirement. Below are their responses. Some wish they could go back to their 20s and reset the "save" button. Others regret making particular investments. Still others would not spend so much. But one person wishes she had spent more and invested less…

As you read about the experiences of these people who were gracious enough to share their wisdom, see if there are any lessons you can learn so that you can avoid having retirement regrets.

1. Make Transfers Inconvenient
Pay yourself first. So simple, but our problem was always dipping into the savings for various emergencies. I think if about twice a year we had moved the automatic savings money into another account that was not as easy to use for transferring money to the checking account, we would have thought twice about using that money as often. When we look at what that simple $50 per month would be at this point in our lives, we kick ourselves for not being more disciplined.
-- Name withheld

2. Tithe Thyself
I would have saved 10 percent automatically from my paycheck by direct deposit into a savings account earning the best possible interest compounded daily. I would have also disciplined myself to deposit 10 percent of any additional money from gifts, refunds or other earned income.
I would have bought a small house outright with the money I had saved (instead of renting an apartment for over 30 years).

I would have found a job that I loved and devoted my life to it. At least you could be happy even if you were not where you wanted to be financially. Hope this helps someone out there.
-- D. Lorinser

3. Redo the Pension Payout
At retirement my husband and I arranged that when we passed away, the spouse would receive the same pension. This reduced our pension amounts. We should have taken the (single life) maximum and, after calculating how that raised our monthly pensions, we should have used the extra money for life insurance purchases to benefit the spouse instead.
-- Name withheld

4. Aye for I Bonds
I (started) to buy I bonds in 2000. In hindsight, I should have started buying them in 1998 when they first became available. But no complaints, I bought them to the maximum allowable for my wife and I for seven years. They're the safest and best investment that I've ever made.
-- Andy Greenstein

5. Save for a Rainy Day
(I regret) not saving a certain percentage for a rainy day. Put it away and don't look at it. If I knew then, what I know now, at age 66, I would be extremely wealthy. Should have definitely taken (my) parent's advice, but can't cry over spilled milk.
-- Name withheld


Here's to your finances!


Pumps, Purses & Positivity
Real Life, Real Talk, Real Women

PPP's Tip of the Week

12 New Rules For Your Money
by Kiplinger's Personal Finance Magazine courtesy of Yahoo!Finance

In this era of high unemployment, flat home prices and do-it-yourself retirement savings, some traditional rules of saving and investing are due for an overhaul.

1. Renting may beat buying.
Buying wins hands down when home prices are rising. But when they're flat or falling, it makes sense only if you get a great deal, your monthly payment won't exceed rent on a comparable home by much, and you'll own the home long enough to recoup your costs for both buying and later selling your home.

2. Consider a Roth.
Although the traditional rule of tax planning is never to pay a tax bill today that you can put off until tomorrow, Roth IRAs and Roth 401(k) plans stand that rule on its head. With a traditional IRA or work-based retirement plan, you get an upfront tax deduction, but every dime you withdraw in retirement is taxed at your ordinary income-tax rate. With a Roth, you forgo the upfront tax break, but all withdrawals — including decades of earnings — can be withdrawn tax-free. If income-tax rates rise, a pot of tax-free retirement income could be a financial lifesaver. To contribute to a Roth IRA, your income in 2010 can't top $120,000 if you're single or $177,000 if you're married. Anyone, regardless of income, can now convert a traditional IRA to a Roth IRA, but you'll owe taxes on the entire amount. There are no income-eligibility limits to contribute to a Roth 401(k), but not all employers offer them.

3. Focus on dividends.
Invest in stocks that pay dividends. Your options should continue to expand — more companies are paying dividends, and many of the elite dividend-paying members of Standard & Poor's 500- stock index are upping their payouts to shareholders. True, dividends do not guarantee that a stock will be a winner. Some failed big banks used to pay high dividends, while highfliers Apple and Google don't pay a penny. But during periods of market volatility, when stock prices tend to bounce around in reaction to political and economic gyrations rather than accurately reflect corporate fundamentals, dividends can provide a predictable income stream. That's not going to make you rich, but it is a comfort when other traditional sources of income have slowed to a trickle.

4. Personalize your emergency fund.
The standard advice is to keep enough in savings to cover three to six months' worth of expenses. But a lot depends on the stability of your job and the predictability of your income. The greater the risk your income could drop, the larger your emergency fund should be. If you think your job is in jeopardy, aim to save at least a year's worth of expenses; ditto for individuals with erratic incomes, such as those who work on commission. Retirees should keep two to three years' worth of expenses in money-market funds, short-term CDs or other liquid investments. The goal is to keep enough cash on hand so that you don't have to sell stocks or rack up expensive credit-card debt if you have an emergency, but not so much that you miss out on the higher returns you can earn on longer-term investments.

To read the other 8 money rules, please click here.

Here's to your finances!!

Pumps, Purses & Positivity
Real Life, Real Talk, Real Women