A new retirement is here.  The retirement landscape has changed!

There.  I said it.  But you already knew that didn’t you?

Things are different than they were three years ago in 2007, when the Dow Jones was above 14,000, your home increased by 15% every year and cats and dogs played nice together!

But now, in 2010, dogs are chasing cats again, your home has dropped by 15% or more and the Dow has woken from the dead of 6,600 but can’t seem to sit above 10k for more than a few weeks.

Things are different.

And that’s okay.

It’s okay because there has been a shift in the definition of retirement for the last several years, one that’s not totally dependent on the market or housing.

What is the new retirement?  It’s not just sitting at home watching Drew Carey destroy the Price is Right or even doing positive things like double checking all your beneficiaries so you know you have the right ones listed.

Here are 10 guiding principles for the New Retirement:

New Retirement Principle #1: Don’t Stop Working

More and more folks these days are working beyond age 65.

They enjoy working and want to continue to be a contributing member of society.

Gone are the days where you worked for 30-40 years, stopped and then veg’d out for the next 15 or so.

In the new retirement work still exists, it just looks a little different than your normal 9-5.

New Retirement Principle #2: Do Something You Love

Work looks different in the new retirement because folks are becoming more interested in doing something they really love.

Instead of dragging your feet to work every day, a lot of baby boomers are fulfilling their life’s dream to do what they love – what they’re passionate about.

That will look differently for everyone, but think about what it is that makes you tick – is there a way to make money at it?

New Retirement Principle #3: Become More Concerned With True Wealth

Speaking of doing things that you’re passionate about – I believe that True Wealth is really defined by the 3 P’s – People, Passion and Purpose.

The new retirement focuses on investing into the lives of people, pursuing what you are passionate about and living life with purpose!

This brings greater fulfillment than any amount of comma’s alone could bring.

Use your material wealth to pursue True Wealth!

New Retirement Principle #4: Become More Charitable

Keeping it all for yourself is a surefire way to become a crotchety old man or woman!

Be generous.  Be charitable.  Look for ways to benefit others, not just yourself.  Here’s is one blogger’s strategy for giving away millions!

The new retirement is concerned about others well-being, not just your own.

New Retirement Principle #5: Become Debt Free

The new retirement is intent on getting out of debt!  Living high on the hog while you mortgage your future isn’t the way to a happy retirement any more.

If you can pay off your mortgage, your cars and get rid of all debt – you’ll be much more free to do what you want, when you want in retirement!

You’ll be able to enjoy yourself much more and will be less worried about a “fixed income” or a lower income for that matter.

New Retirement Principle #6: Become More Frugal

Frugality is the new game in town.  And it’s also the name of the game in the new retirement.

Make frugality fun.  Being frugal doesn’t mean being cheap – there is a difference.

It does mean that you consciously shop for deals, bargains, and use your money wisely – not frivolously.

New Retirement Principle #7: Become More Entrepreneurial

Don’t be afraid to tap the creative juices and become an entrepreneur.

There is sometimes a stigma with entrepreneurship, that you must be filthy rich in order to be an entrepreneur.  I don’t think that’s the case.

You can easily start up an online business, or a consulting gig and start marketing yourself.

Just be sure you weigh the costs and the benefits.  Keep the costs down and go for it.  What have you got to lose?  You may find you love building something from scratch!

New Retirement Principle #8: Become More Diversified With Your Income

Folks in the new retirement don’t rely on Social Security or their pension.  They seek ways to create additional income.

Ranging from turning your hobby into a business, becoming an avid e-Bay seller, blogging to create income, becoming a freelance writer or any other number of things that can diversify your inflows – getting multiple sources of income is a smart thing to do.

Of course, there are some things you’re better off not trying when it comes to diversifying your income.

But again, as I said with principle #7 – be creative – figure out some alternative ways to make a little extra cash.

New Retirement Principle #9: Develop a More Simplified Lifestyle

The New Retirement understands that just because you can “have it all” doesn’t mean you should.

Folks in the New Retirement are quite content with living a minimalist lifestyle.

A simplified lifestyle leads to less clutter, more contentment and can help free up the frantic pace of life we often lead in our pursuit of bigger and better!

If you’re just getting into the simplified or minimalist lifestyle, you may want to check out Minimalist Living 101.

New Retirement Principle #10: Serve the Common Good of Your Community

I’m reminded of Jeremiah 29:7:

But seek the welfare of the city where I have sent you into exile, and pray to the LORD on its behalf, for in its welfare you will find your welfare.

God’s command to Jews exiled into Babylon was to serve the common good of the community.  How much more should we serve the common good of the places we live, work and play?

Folks in the new retirement seek opportunities to build up the community by volunteering, mentoring, teaching and simply investing time and energy to make their communities attractive.

What are Your Thoughts on the New Retirement?

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It’s been a busy week, but a great week – we’re finally getting over our sicknesses at the R2 household! 

It’s also a great week because the NCAA tournament begins!  I love March Madness - the games are always full of good sports drama and usually very exciting! 

But, it’s another week in the books and it’s time for a quick tour.  This Week in Personal Finance takes a look at interesting articles, posts and news from the past week in the personal finance arena. 

So give these articles a click!

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• Consumer Boomer talks about all kinds of rules with Roth IRAs
• My Journey to Millions discusses a bartering concept in Cairo called LETs, which is designed to sustain communities longer.
• Sweating the Big Stuff identifies some lessons learned from Who Wants to Be a Millionaire.
• Here’s a scary stat: 43% of American workers have less than $10,000 saved for retirement!  20′s Money talks about this here.
• The Canadian Finance Blog posts about passive income in retirement.
• Want to sell your car?  Fiscal Fizzle shows you how to sell your car on Craigslist!
• Here’s an interesting post from Ultimate Money Blog - Is it More Frugal to be a Minimalist or a Hoarder?
• Financial Samurai gives a pointed review of Michael Moore’s new documentary called “Capitalism a Love Story”.
• Planting Dollars discusses a Fear of Success!
• Money Help for Christians talks about how to help teens work through consumerism and spending.
• Consumerism Commentary makes a good point about using less detergent when washing clothes and therefore saving money.
• The Consumerist reports that banks are so inept at handling mortgage modifications that many folks have less than a 50-50 chance of getting one done!

Have a great weekend everyone!!

Want to win a FREE Netbook?  Head over to Couple Money and follow the rules!

If your family’s growing and you need extra space, get it without buying a new home or building an expensive addition onto your house. Here’s how.

Clear the clutter in every cupboard, closet, drawer and storage area. Evaluate your keepsakes. Scan photos to revive the memory later. Do you really need nine things to remember Aunt Lucy by?

When it comes to furnishings and décor, think vertical. Get as much off the floor as possible to create more space. Reduce the amount of furniture you have. Instead of using plant stands, hang them on hooks.

Simplify and Sell

Get rid of some of your seating, especially if kids enjoy plopping on the floor instead. Remove clutter catchers like extra tables. Minimize the scale of your furniture, too. Sectional sofas and giant coffee tables gobble up more space than separated seating and diminutive end tables.

A friend sold her oak entertainment center/curio cabinets, her children’s outgrown movies, and standard television. She then used that money to buy a wall-mountable flat screen TV with a built-in DVD player and two slim storage towers for her DVDs and found extra floor space without blowing the budget.

My family started keeping electronic records, which eliminated two filing cabinets in the home office. Downsizing from a sprawling desk to a taller, slimmer desk also created space.

On eBay, Craigslist or on a community bulletin board, list items that you wish to sell.  Hosting a garage sale is a perfect way to create some extra space.Search Ebay’s Want it Now section to see if anyone’s looking for your items.

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Maximize Space and Decorate Effectively

Now that you have more room and cash, you can really make strides in expanding your space. Select lighter colors to make your rooms open up visually when painting. Certain things can visually shrink rooms, such as heavy drapes, dim lighting, dark woodwork, busy patterns, and an abundance of knickknacks.

Efficiently use your storage areas. This will make your rooms seem bigger because you have fewer items in sight. Also, as an added benefit, you may be able to thin out more furniture per room.

By adding shelves in large cupboards, hanging shoe holders in closets and using over-the-door hooks, I’m given more closet space and the need for a coat tree is eliminated. I also like cascading closet hooks so shirts, skirts and folded pants use much less space.

Stow more with tables and ottomans that have built-in storage space. For example, using small, freestanding cabinets for nightstands lends us more storage than many tables would. Bunk beds with built-in drawers spared us from crowding the kids’ room with two beds and dressers.

I maximize the space under beds, couches and under the rod in closets. Plastic storage containers provide storage for whatever you want to stow nearby, such as throw blankets, board games, extra sheets, and toys.

Strategic Functionality of Your Rooms

Get more value from each room by multiplying its functions. This strategy may even garner an additional room. To merge his family room and home office and get an extra bedroom, Rich, a Pennsylvania dad, installed a tuner chip in his computer.

It functions as their television and DVD player, which eliminated the need for an additional screen and piece of furniture to house it. They aren’t big TV viewers, so this solution worked well for them.

Tuck a computer armoire in a kitchen or den because when the armoire doors are closed, it blends seamlessly with the room and nixes the need for a separate office.

Dale, a New York dad, gained two new bedrooms and a bathroom for his growing family by finishing off half his basement (check the building codes of your city before making structural changes). By completing most of the work himself with the help of knowledgeable friends, Dale saved quite a bit.

Compared with the cost of buying a larger home or building an addition, selling furniture and things you don’t need to “buy” more functional pieces and dividing large, open spaces to gain rooms still makes plenty of sense.

This has been a guest post by Deborah Jeanne Sergeant.  Deborah writes from her home in Wolcott, N.Y.

You can also find more room in your home by selling unwanted items. Hosting a garage sale is a perfect way to create some extra space.

Tip #10 – Start Packing Lunches!

Welcome to our tenth and final day of our journey, where we are looking at 10 money-saving tips to help save $10,000!  

This has been a really fun series of posts and it’s garnered a lot of great comments!  Keep ‘em coming everyone!

If you missed the introductory post of 10 Money-Savings Tips to Help You Stash $10,000 you’ll definitely want to check it out so we’re all on the same page.

But to sum it up – here’s our mission:

• The Goal: Save $10,000
• By When: This time next year
• How: By implementing 10 money-saving tips

For the last couple weeks we’ve looked at one money-saving tip each Monday through Thursday.  If you have a tip that hasn’t been mentioned, or you’d like to add some additional thoughts to one of our existing tips, please let me know your best money-saving tip here!

We’d love to hear your stories of what you did and how much money you saved by implementing your tip!  If you’re a blogger and have posted about your money-saving tip, please include a link to your post!

Remember – each of these alone don’t seem to add much savings, but when combined they add up to over $10,000 of savings over this next year!  Even if you don’t reach that $10,000 mark, saving a few grand this next year will help build an emergency fund or get you started on investing!

Here’s what we’ve been through so far:

Tip #10: Start Packing Lunches!

Ok, so this one is similar to Tip #1, but I think it’s different enough to make a distinction and a separate post.  I guarantee there are some families that don’t go out to dinner very much as a family, but eat out for lunch almost every single day.

This was definitely the case for some folks I use to work with at former places of employment!

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How Much Does It Cost?

Well, this depends if you only have a half-hour for lunch and need to grab something quick, or if you’ve got an hour for lunch and like to hit a sit-down spot!

If you figure the average fast food meal costs anywhere from $5 to $8 depending on what you get and where you live and the average sit-down meal is somewhere in the $8 to $12 neighborhood, you’re looking at $25 – $60 a week if you’re eating out every day! 

Not only does going out for lunch all the time decrease the wallet size, but it increases the belt size!  Going out for lunch all the time is not good for you – unless of course you are disciplined and always make the healthy choice – I know I don’t!

But Leftovers Might Kill My Career…

Think I’m crazy?  Think again.  Helena Echlin from Chow.com says that bringing your leftovers makes you look less successful and also makes a statement to others that you are anti-social!

Maybe you should stop bringing your leftovers in your Superman lunch box – seriously, no one wants to know that you’re a big Clark Kent fan!

I don’t know, maybe bringing a lunch does ding your image.  As a self-employed, independent contractor, I guess I never really had to worry about the silliness of climbing the corporate ladder.  But I guess i can see the point.

Image vs. Reality – What’s More Important?

So bringing some leftovers to work makes you look like you’re at the bottom of the food chain!  It’s like anything else in our society these days – do we live for our image or do we live in reality?

How many people do you know that seemingly have it all – a lot of toys, a big house and nice cars – yet they’re up to their eyeballs in debt!

They aren’t rich, they just act like it!  So, let your co-workers rip on you because you’re bringing your leftover casserole while they throw their $15 lunch on their credit card and have some laughs.

You’ll have the last laugh after you’ve gotten out of debt and stashed $10,000 over this next year!

But I Don’t Know What to Pack!

Need some ideas for packing lunches?  Check out Alan’s Kitchen and his list of quick and easy lunch recipes!  If you have a plan in place you are much more likely to act on it.

One of the biggest tips to help you start packing lunches is to prepare a “leftover container” right after dinner that you can take with you for lunch the next day.  I know for myself that if the food isn’t in an easy-to-grab container the odds of me putting it in one in the morning decrease dramatically!

Estimated Savings: $25 – $150 per month

Let Us Know in the Comments

1. How much have you saved by packing lunches
2. Have you felt the temptation to go out for lunch to protect your image?

Check Out All The Tips From Our Series

Tip #1: Cut Back on Going Out to Eat

Tip #2: Evaluate Your Entertainment

Tip #3: Cut Your Cable

Tip #4: Turn Your Heat Down

Tip #5: Negotiate Your Cell Phone Plan

Tip #6: Get Rid of Your Land Line

Tip #7: Slash Your Grocery Bill by Cutting Out Junk Food!

Tip #8: Use Coupons, For Everything!

Tip #9: Negotiate Your Home and Auto Insurance

Tip #10: Start Packing Lunches!

Tip #9 – Negotiate Your Home and Auto Insurance

Welcome to day nine of our roughly 10-day journey, where we are looking at 10 money-saving tips to help save $10,000!   This has been a really fun series of posts and it’s garnered a lot of great comments!  Keep ‘em coming everyone!

If you missed the introductory post of 10 Money-Savings Tips to Help You Stash $10,000 you’ll definitely want to check it out so we’re all on the same page.

But to sum it up – here’s our mission:

• The Goal: Save $10,000
• By When: This time next year
• How: By implementing 10 money-saving tips

For the last couple weeks we’ve looked at one money-saving tip each Monday through Thursday.  We’ll be finishing up our series this week!

If you have a tip that hasn’t been mentioned, or you’d like to add some additional thoughts to one of our existing tips, please let me know your best money-saving tip here!

We’d love to hear your stories of what you did and how much money you saved by implementing your tip!  If you’re a blogger and have posted about your money-saving tip, please include a link to your post!

Here’s what we’ve been through so far:

Tip #9: Negotiate Your Home and Auto Insurance

This is one tip that most people have probably thought of, but perhaps haven’t paid much attention to.  For whatever reason, we all get into a rut and so when our renewal notice comes we just pay the premium and on we go for another six months.

For many of us, the thought of getting auto insurance quotes and home insurance quotes isn’t all that appealling right?  So what do we do with things that aren’t that fun?  C’mon now, be honest – we put them off!  

 But, this is one area that you can really save some big money with a little front-end effort of getting some quotes!

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How Much Coverage Do You Need?

Before you get carried away and start raising your deductible and dropping coverage, you really need to do a little homework up front to figure out how much coverage you actually need.

Smart Money has a great article on auto insurance that walks you through the different options for your auto insurance and gives an idea of how much coverage you should be looking for.

Shop Around For Home and Auto Insurance Quotes

Ok, now for the fun part.  Before you give your existing company a call, you’ll want to give competitor’s a call and start comparing insurance quotes.  You’ll also want to check to see if your employer offers any discounts with certain carriers.  If you’re a Costco member, you get a discount as well. 

Make sure you know all the angles – most companies will offer you big discounts for buying both home and auto insurance – among other things through them!

Get as much information as you can and write it down.  You want to make sure you’re comparing apples to apples.  To help get you started here are some toll-free numbers to call so you can shop around:

Geico: 1-800-861-8380

AAA: (866) 539-8033

Allstate: 866 704 9900

Progressive: 1-800-776-4737

Or, you can always go on the web and get some free auto and home insurance quotes as well.

Simple Financial Lifestyle mentioned they recently shopped their car insurance and ended up saving $500 annually!  There’s some great potential savings because this type of insurance is very competitive – and companies want your business!

Call to Negotiate

Once you’ve got a pretty good idea as to what other companies will offer, you want to give your existing company a call first. 

Let them know that you’ve got a quote for “X” amount and you’re wondering what they can do to retain your business.  This works!  It’s amazing how many companies scramble to throw you a deal when they realize you’re about to walk.

There are some crazy discounts offered by the competition these days – ask your current company if there are any discounts you’ve been missing out on, like a safe driver discount, or a “I haven’t had a cold in two years” discount.  Anything!

If your existing company can’t match or beat the lowest price you shopped around for then it’s time to switch.  Yes it’s a pain, but it’s worth it.

Side Note: I don’t advocate going by price alone – you want to make sure you are with a legitimate company that has good claims-paying ability!  The last thing you want is to get into an accident and have a company that can’t pay!

Estimated Savings: $25-$100 per month

Don’t Forget To:

1. Check out the other money-saving tips in this series!

2. Leave a comment below letting us know how much you’ve saved by negotiating your home and auto insurance!

Check Out All The Tips From Our Series

Tip #1: Cut Back on Going Out to Eat

Tip #2: Evaluate Your Entertainment

Tip #3: Cut Your Cable

Tip #4: Turn Your Heat Down

Tip #5: Negotiate Your Cell Phone Plan

Tip #6: Get Rid of Your Land Line

Tip #7: Slash Your Grocery Bill by Cutting Out Junk Food!

Tip #8: Use Coupons, For Everything!

Tip #9: Negotiate Your Home and Auto Insurance

Tip #10: Start Packing Lunches!

Tip #4 – Turn Your Heat Down

Welcome to day four of our roughly 10-day journey, where we are looking at 10 money-saving tips to help save $10,000!  If you missed the introductory post of 10 Money-Savings Tips to Help You Stash $10,000 you’ll definitely want to check it out so we’re all on the same page.

But to sum it up – here’s our mission:

For the next couple weeks we’re going to look at one money-saving tip each Monday through Thursday.

On Thursdays we’re going to look at a tip, but also hear Personal Finance bloggers’ and hopefully some readers’ ideas and experiences on how they’ve saved money!

If you’d like to be included in the Thursday posts – please let me know your best money-saving tip here! We’d love to hear your stories of what you did and how much money you saved by implementing your tip!

If you’re a blogger and have posted about your money-saving tip, please include a link to your post!

Tip #4: Turn Your Heat Down

Friends who know us will laugh at this one.  Our house is always the cold house!  We try to turn the heat up when we have company over to accommodate, but they’ve wised up and started bringing sweatshirts and slippers now!

We do this mainly to save money on our heating costs.  As my wife always says, “There is no reason why you shouldn’t have to put on a sweatshirt and a blanket in the winter time!”

We also do this because we love to sleep in colder temperatures.  Neither one of us sleep well when it gets hot, so we turn that thermostat down to 63 degrees at night.

If no one is going to be home for the day, we leave the temp set at 63.  If someone is home, then we crank that puppy up to a balmy 65 – sometimes 66 on a really cold day!  We throw on sweatshirts and deal with it.

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You’re Nuts!

That’s usually the response we get when we tell people what we set our thermostat to, but I’m glad we are not the only ones out there. 

As promised we wanted to take a look at some PF Bloggers ideas on how they’ve saved money as well.  Take a look at these two submissions I received regarding turning the thermostat down:

Rainy Day Saver says:

We set our thermostat to 63 degrees to reduce our heating bill. It’s worth saving about $200/month.  Yep. The 7-degree difference from 70 degrees to 63 saves us a lot of moolah!

Kyle, from Suburban Dollar says:

I work from home all by myself, and to cut down on heating costs I keep the thermostat set at 63 degrees inside and bundle up while I work. 

Great job guys!!  In Kyle’s post, he had a link to an article by USA today that talks about the Challenge to Be Chilly.  They go on to say that some folks are doing this to save money and some are doing this in an effort to go green and conserve energy.  One family saved over $800 last year by turning their heat down and employing some energy-saving tips!

How Much Can You Really Save By Conserving Energy?

For most of you out there, you’re probably thinking, “OK, that’s great, but how much can you really save?  After all, it’s not worth saving $5 or $10 if I’m going to freeze my fanny off!”

According to Bill Pindle, deputy director for the nonprofit American Council for an Energy-Efficient Economy (ACEEE), “The rule of thumb is that you can save about 3% on your heating bill for every degree that you set back your thermostat”. 

If you turn down the thermostat 10 degrees when you go to work, and again when you go to bed — a total of 16 hours a day – you can save about 14% on your heating bill, says Prindle.

That’s a pretty good savings! 

Where I live, in the Chicago area, the average monthly heating bill in 2007 was $218.  In New York it was almost twice that, just shy of $500!  A 14% savings on those two numbers is roughly $30 – $70 per month in savings!!

Fight the Temptation to Crank It Up!

It will only take one day of you freezing your tail off to say, “Forget this, it’s not worth it!”.  Don’t do it.  Start with turning your thermostat down a few degrees to save some money and get used to the chill.

Buying a programmable thermostat will be a good investment for you as well, that way your temperature will automatically drop when you go to work and when you go to bed so you don’t have to always remember!

Give it a shot and see what happens!

Estimated Savings: $25-$200 per month!

How much have you saved by turning the temperature down?

Check Out All The Tips From Our Series

Tip #1: Cut Back on Going Out to Eat

Tip #2: Evaluate Your Entertainment

Tip #3: Cut Your Cable

Tip #4: Turn Your Heat Down

Tip #5: Negotiate Your Cell Phone Plan

Tip #6: Get Rid of Your Land Line

Tip #7: Slash Your Grocery Bill by Cutting Out Junk Food!

Tip #8: Use Coupons, For Everything!

Tip #9: Negotiate Your Home and Auto Insurance

Tip #10: Start Packing Lunches!

Tip #3 – Cut Your Cable

Welcome to day three of our roughly 10 day journey to save $10,000 over this next year. If you missed the introductory post of 10 Money-Savings Tips to Help You Stash $10,000 you’ll definitely want to check it out so we’re all on the same page.

But to sum it up – here’s our mission:

For the next couple weeks we’re going to look at one money-saving tip each Monday, Tuesday and Wednesday.

On Thursdays we’re going to hear Personal Finance bloggers’ and hopefully some readers’ ideas and experiences on how they’ve saved money!

If you’d like to be included in the Thursday posts – please let me know your best money-saving tip here! We’d love to hear your stories of what you did and how much money you saved by implementing your tip!

If you’re a blogger and have posted about your money-saving tip, please include a link to your post!

Tip #3: Cut Your Cable

I know I’m stepping on to some thin ice here, but I just have to do it.  The average digital cable subscriber spends approximately $75 per month and many pay well over $100!

Now before you get too upset – I am NOT suggesting you need to get rid of your cable altogether, although there are some who are in full support of cutting cable completely and have saved a lot of money doing it!

Take for example, Kita – from Personal Finance Journey.  She recently posted about how she got fired up to knock out some debt and made a radical decision to cut off her cable completely and saved over $70 per month!!

What I’m suggesting here is at the very least taking a look at your bill and sacrificing a bit to help shave some expenses.  Especially with all of the technology out nowadays like streaming from Netflix, Xbox or even just using your computer to watch shows online – there is no reason why you can’t find the shows you want.

Seriously, do you really need 800 channels? 

My wife and I just recently moved in our new house and after some debate we decided to go with the Direct TV family package, which includes channels we like HGTV, DIY and Food Network.  It also has all the cartoon and kids programming that we wanted as well since we have a daughter that is totally into Dora.

 It only has 50 channels, but the regular rate is $43 per month with taxes! 

It doesn’t have ESPN, but can I get by without it?  No – I mean Yes, yes I can.  I can actually check any highlights I want on ESPN.com! 

Will I miss some games I really want to see?  Sure, but I can see most of the games that I’m into and if there is something I want to see, I can always find a friend or family member and invite myself over!

I remember talking to someone a while back who was loaded to the gills with credit card debt.  It was so bad that the interest being paid was similar to most people’s mortgage payment! 

One of the things they staunchly refused to cut back on was their $150 cable bill stating they “needed” all those movie channels and premium packaging for their teenage boys.

One of the things you can do also is to negotiate with your cable provider for a lower rate.

So, take a look at your cable bill – see if there are some channels that you can do without for a while and give your cable company a call!  You’ll be glad you did.

Estimated Savings: $25-$75 per month

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Check Out All The Tips From Our Series

Tip #1: Cut Back on Going Out to Eat

Tip #2: Evaluate Your Entertainment

Tip #3: Cut Your Cable

Tip #4: Turn Your Heat Down

Tip #5: Negotiate Your Cell Phone Plan

Tip #6: Get Rid of Your Land Line

Tip #7: Slash Your Grocery Bill by Cutting Out Junk Food!

Tip #8: Use Coupons, For Everything!

Tip #9: Negotiate Your Home and Auto Insurance

Tip #10: Start Packing Lunches!

Tip #2 - Entertainment

So, we’re on day two of our roughly 10 day journey to save $10,000 over this next year.  If you missed the introductory post of 10 Money-Savings Tips to Help You Stash $10,000 you’ll definitely want to check it out so we’re all on the same page.

But to sum it up – here’s our mission:

For the next couple weeks we’re going to look at one money-saving tip each Monday, Tuesday and Wednesday. 

On Thursdays we’re going to hear Personal Finance bloggers’ and hopefully some readers’ ideas and experiences on how they’ve saved money!

If you’d like to be included in the Thursday posts – please let me know your best money-saving tip here!  We’d love to hear your stories of what you did and how much money you saved by implementing your tip!

If you’re a blogger and have posted about your money-saving tip, please include a link to your post!

Tip #1: Cut Back on Going Out to Eat

Tip #2 Evaluate Your Entertainment

Over the course of this journey, we’re breaking down the US Bureau of Labor’s statistics on average consumer expenditures and taking a look at some ways to cut back. 

Next we tackle your entertainment.

Maybe your entertainment budget includes going out to eat like ours does, but even so you should probably evaluate your other forms of entertainment.

According to the most recent survey, the US Department of Labor reports that the average American family unit spends $2,698 a year on entertainment costs – or roughly $225 per month!

Are you movie buffs and love going to the theatre?  You’re well aware it’s easy to drop a 20 spot without blinking.  After your ticket, a popcorn and a soda, your Andrew Jackson is throwing you a goodbye kiss on the way to the register!

Maybe you enjoy going to professional sports games, going out for a night on the town with some friends or hitting up the local Starbucks several times a week while reading a book. 

Again, the challenge here is not to get you to stop doing these things – it’s to challenge your conventional thinking to see if there are some ways to trim the fat.

Finding Frugal Entertainment Alternatives

If you’re a social butterfly, this doesn’t mean you have to turn into a homebody or that you can’t get out of your house to have some fun, but think about some alternatives.

How about starting a Frugal Club like Tisha talks about over at Wise Bread.

The first rule of Frugal Club is you don’t talk about Frugal Club!

Sorry, just seeing who’s on their toes.

Try waiting for a movie to come out on DVD or going to the town’s local theatre if you have one.  Sure, you won’t get to see the latest and greatest, but you’ll save some money.

Try getting together with some friends at your house and enjoy a game night! 

We just did this last weekend with some friends.  We ordered pizza, played some games, had great conversation and a ton of laughs!!  Total cost?  $10! 

Get your friends on board with your saving challenge so they’re not enticing you to go out every night. 

Try alternatives like local museums that offer free or discount days. 

You get a bunch of friends together and go camping.  My wife and I do this every year and we love it!

Get creative, frugal living doesn’t have to be boring! 

You don’t have to stop spending on entertainment, just look for some fun ways to cut back.

Estimated Savings: $25-$100

Share Your Thoughts!

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Check Out All The Tips From Our Series

Tip #1: Cut Back on Going Out to Eat

Tip #2: Evaluate Your Entertainment

Tip #3: Cut Your Cable

Tip #4: Turn Your Heat Down

Tip #5: Negotiate Your Cell Phone Plan

Tip #6: Get Rid of Your Land Line

Tip #7: Slash Your Grocery Bill by Cutting Out Junk Food!

Tip #8: Use Coupons, For Everything!

Tip #9: Negotiate Your Home and Auto Insurance

Tip #10: Start Packing Lunches!

Who doesn’t love to save a little extra cash each month? Finding ways to save money, trim the fat and pocket some coin each month isn’t easy, but it is simple.

The question is, “Will you do what it takes – and if so, what will you do with the extra savings that you find each month?”

Saving the extra cash is critical because let’s face it, the average American spends more than they make! 

Most people find other ways to spend their money rather than socking it away into an emergency fund or long-term savings.

But, just imagine if you got on board with this challenge - how much better financial shape would you be in? You’d feel better about yourself and your future and you’d be in a position to do things you really want to do with your money.

So here’s what we’re going to do: 

• The Goal: Save $10,000
• By When: This time next year
• How: By implementing 10 money-saving tips 

The Plan to Save $10,000

For the next couple weeks we’re going to look at one money-saving tip each day.

On Thursdays we’re going to hear Personal Finance bloggers’ and hopefully some readers’ ideas and experiences on how they’ve saved money!

When all is said and done and you’ve implemented each of these 10 tips, you’ll have saved over $10,000 this next year! 

Of course, not everyone will be able to save 10 G’s, but even if you don’t save quite that much, saving a couple thousand bucks will be worth it!! 

So, are you ready to come along for the ride? 

Let’s save some money!!

Tip #1: Cut Back on Going Out to Eat

Let’s be real here.  We probably all spend a little too much on going out to eat.  It’s hard to walk out of  a chain restaurant and not drop $30-$40 on a meal if you get an appetizer, two entrees and a couple drinks!

How often do you do that per month or even per week?  As you’re well aware, this can add up pretty quickly.

According to the Bureau of Labor Statistics in their 2008 Consumer Expenditures press release - they cite the average 2.5 unit household spend approximately $2,698 on food away from home! 

That works out to be roughly $225 a month on going out to eat!! 

Let that sink in a minute.  $225.

Now, I love going out to eat – who doesn’t right?  It’s fun, it’s easy and there is some pretty good food out there.  But hear me out for a second -

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What if, instead of going out three, four or five times a month you cut that back by two!  Only two! 

I’m not asking you to give up eating out completely – that’s just silly and you and I both know YOU WON”T DO IT!  It won’t be a goal you can commit to for a long period of time.

But, giving up two meals is a goal that you can reach!  Give it a shot next month and see what happens. 

What should you do instead?  Well, invite some good friends over, grill out or cook a good meal and enjoy conversation at home rather than in a restaurant.

Or, why not invite a few couples over and each have them bring something.  You can do dinner theme’s so everyone brings something that goes together. 

Start rotating houses every month and have a good time with great friends eating good food and saving some good money.

You’ll be surprised at how much fun you can have by doing this and you’ll feel good about yourself that you saved some money!!

Estimated Savings: $40-$100 per month

Share your thoughts below on how much you’ve saved by cutting back on eating out!

Check Out All The Tips From Our Series

Tip #1: Cut Back on Going Out to Eat

Tip #2: Evaluate Your Entertainment

Tip #3: Cut Your Cable

Tip #4: Turn Your Heat Down

Tip #5: Negotiate Your Cell Phone Plan

Tip #6: Get Rid of Your Land Line

Tip #7: Slash Your Grocery Bill by Cutting Out Junk Food!

Tip #8: Use Coupons, For Everything!

Tip #9: Negotiate Your Home and Auto Insurance

Tip #10: Start Packing Lunches!

February 14 approaches quite quickly on the heels of the Christmas and New Year spending sprees and as such you may be dreading the approach of Valentine’s Day this year because you are still struggling with credit card debt, or trying hard to stick to a New Year’s savings plan.

Instead of splurging on your beloved this Valentine’s Day and forgetting all of your financially responsible New Year’s resolutions, check out these 10 tips for an inexpensive, romantic Valentine’s Day:

1 Have dinner at home

Every couple seems to go out on Valentine’s Day.  Instead of sharing a crowded restaurant with hundreds of other couples, all trying to outdo each other, save the cost of the meal and drinks and dine at home. It is easy to create a romantic atmosphere at home with a nice tablecloth, the good dinner set and a few candles. Plus you can still get dressed up for dinner, but enjoy the much more romantic and private atmosphere of your own home.

To make the entire day romantic, share the meal preparation duties too. Spending time together in the kitchen won’t cost you a thing, but makes for quality time, and a romantic meal that’s a team effort.

2 Have an affordable night out

If you still want to get out of the house, but want to avoid the restaurant meal, capture the romance and excitement of a Valentine’s Day date night with just one portion of the evening. To save you money on the full cost of a night out on Valentine’s Day, go out for coffee or dessert and enjoy an affordable night out.

3 Celebrate on a different day

Romance on Valentine’s Day doesn’t always have to be in the traditional activities of candle-lit dinners and the like; and it doesn’t always have to be on Valentine’s Day either. Since February 14 falls on a Sunday this year, take the Friday or the Monday off and spend the day together. There will be fewer people around, and a simple walk on the beach, a trip to the movies, a picnic or a hike can make for a romantic day because you’re celebrating with just each other, in your own way.

side note from Jason: This is much harder to do in winter landscapes, but you can go ice skating or sledding!

4 Give thoughtful gifts

There are a number of alternatives to expensive flower displays and chocolates which become over priced at this time of year. Think of something which your partner will actually want – it might even be cheaper than flowers and chocolates and will be much more appreciated.

Show your love at home and bake heart shaped cookies or muffins for your partner. Or if your loved one is heading off to work this Valentine’s Day, cut their sandwich into a heart shape as a special surprise.

Offering yourself as a gift is an old favourite, but a book of vouchers can make a thoughtful and affordable Valentine’s gift. Make up vouchers for cooking a special meal, cleaning the house, giving a massage or seeing a movie of your partner’s choice. You know your loved on the best, so give them what they really want.

A mix tape may sound old fashioned but the sentiment is still sound, even though tapes may not be. Make a list of the songs which you and your loved have shared, or songs which make you think of them. You can then burn the songs to a CD and put it into your partner’s car CD player as a special surprise, or download them to your partner’s MP3 player with a short recorded message from you.

However you choose to give your mix tape, just because the tapes have gone out of style, the thought, love (and affordability) hasn’t.

5 Not just roses

Roses are one of the most expensive flowers available, especially on Valentine’s Day. Therefore, look at alternative flowers which are likely to be cheaper, and try and choose your partner’s favorite flower. Does she prefer daisies, lilies or gerberas? All of these are much more affordable than a dozen roses so you can save your flower budget, or spend the same amount of money for a much more impressive display.

You could also buy just the flowers from your florist, rather than the expensive boxed displays. You can then buy an affordable vase and put your bunch of flowers in the vase for a beautiful Valentine’s gift, and a vase which your partner can keep for when you buy her flowers next time.

6 Leave romantic notes

You don’t have to get just one Valentine’s card for your partner this year. Instead, make a gift out of a number of cards with special messages hidden all around your home, their car and even their office if you can arrange it. Make some cards and notes easy to find and others a little harder so that this can be a gift which keeps on giving.

7 Write down how you feel

You can write a poem for your loved one, but it doesn’t have to rhyme and it doesn’t have to be filled with soppy romantic clichés.

Instead, write down how you feel about your partner, mention important memories or special times you’ve spent together. You can then copy it into a blank Valentine’s Day card if you feel self conscious about giving a poem as a gift, and the card is something which can be kept and displayed for years to come.

8 Do something your loved one wants to do

Every couple has those things one person wants to do, but doesn’t interest the other. Valentine’s Day is the perfect time to do those things your partner wants to do, but which you normally say no to. For example, she always wants to go to the beach, he wants to go to a baseball game; she wants to go for a walk, he wants to see the new 3D movie. 

Valentine’s Day gives you the opportunity to do these things together, and while the actual acts may not be romantic, it is the fact that you want to do something which will make your partner happy.

9 Make a love scrapbook

Valentine’s Day is all about showing your love, and everyone wants to feel loved, special and admired. Therefore, fill an entire scrapbook with everything you love about your partner. Dedicate an entire page to each memory or attribute which you love about your partner and accompany it with cut outs, photos or memories like ticket stubs or restaurant menus which are meaningful to the two of you.

You can then fill pages with contributions from your partner’s friends and family, about why they love and admire your partner. They can contribute their own photos and write out their own memories to make a special lasting display, and make your partner feel like a prince or princess whenever they look at their love scrapbook.

10 Save for next year

Giving a meaningful and thoughtful (and frugally affordable) gift this year may set the bar quite high for Valentine’s Day next year. Therefore, you may want to accompany your thoughtful gifts with a stunning present too, so start saving up now. You may be able to cut back on a coffee on the way to work each day or eat less take out.

Or, saving for your Valentine may be as simple as starting a savings account dedicated to February 14 next year, and contributing regularly. Plus, if you plan your purchase for next Valentine’s Day you’ll know exactly how much you need to save, and your gift is sure to be meaningful and well thought out.

Having debt in a relationship is a sure-fire way to add stress and tension and that is the last thing you want to do on Valentine’s Day. Instead, agree with your partner to have a frugal Valentine’s this year and put some thought into being thoughtful without over spending.

This has been a guest post by Fred from Credit Card Finder.  Fred  helps people to compare credit cards and find the best credit card for their needs.

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