Index of Resources for Spending Less, Getting Out of Debt, Saving More, and Growing Your Wealth

read and submit comments for this post! send me your links to add! more links added Jan 16 2010!

This post is intended to be an index to my DearPennyPinchingMom posts and to resources on other blogs and the web, plus seminars and events, that help you spend less, get out of debt, save more, and grow your wealth.

DearPinchy says "Let's Beat the Recession!"

SPEND LESS: PINCH YOUR PENNIES
Dear Pinchy Advice:
Pinchy's Overall Guide to Cutting Your Expenses
How Not to Buy Everything Your Kids Want
Adjust Your Thermostat to Save Money
Save Money with Cold Water Wash
Penny Pinching Diva
Be a Customer Service Ninja
Cash for Your Gold Jewelry
Negotiate with Your Landlord to Lower Your Rent
Find Your Missing Money
Lower Your Credit Card Interest
Save Money by Cooking with What's in Your Pantry and Fridge
Angel Food Ministries Helps You Feed Your Family Great Food
Ten Tips for Saving Money in Your Social Life
Ten Tips for Saving Money on Recreation
Perfume, Beauty, and Tea Freebies
Get Another Free $5 Gift Card from Target
Ten Tips for Saving Money around the House

Info On the Internet:
All Things Frugal
Angel Food Ministries
Being Frugal
Cell Phone Recommendations
Cheap By Choice
Frugal Zeitgeist
Huddler's Green Home Blog
Hypermiling.com
The Conscious Consumer
Shopping Links
The Thrift Shopper



SPEND LESS: FREEBIES AND DEALS
(Please note that freebies do expire, so apologies if some of these are gone before you get there!)

Dear Pinchy Tips:
Get a Free $100 Gift Card from Verizon
Freebie Finds
Get a Free $5 Target Gift Card
Bank of America Launches Add It Up
Sweet Free Stuff

Info on the Internet:
CouponMom.com
Darlene's Link City
Free Leaf Free Tea Samples
SwagGrabber
What It Costs


GET OUT OF DEBT

Dear Pinchy Tips:
Pay Down Credit Card Debt

Info on the Internet:
TamarianG went from more than $60,000 in debt to financial security. She tells her story on the Fool message boards:
Part I: I owe HOW much?!
Part II: Budgeting in real life
Part III: LBYMs as a friend
Part IV: Getting those rates lowered
Part V: Getting back in the kitchen again
Part VI: Don't mourn, organize!
Part VII: Stop, Think, Plan, DO!





SAVE MORE
(links coming soon)

GROW YOUR WEALTH
Dear Pinchy Tutorials:
What is a Mutual Fund? The Basics
The Difference Between Load and No-Load Mutual Funds

Info on the Internet:
Ten Things the IRS Won't Tell You
The Motley Fool


FORUMS
(links coming soon)

SEMINARS, EVENTS
(links coming soon)

COMMENT PLEASE!
Did you find this helpful? Other resources you'd like to see added? Want to trade links? Drop a comment to DearPinchy and let me know!

DearPinchy Says: How to Beat the Recession! Ten Tips for Saving Money Around the House

There are a lot of ways to save money around the house - some are obvious, and some are things we just don't think of. You'll find that you can cut your expenses, and use that money to pay down debt or build your savings for future security.

1. Save and reuse plastic sandwich bags and paper lunch bags.

2. Wash and reuse transparent plastic wrap.

3. Use crumpled up aluminum foil for scouring pots and pans.

4. Do it yourself instead of hiring someone: cleaning, yard work, painting, home repair.

5. Use cloth handkerchiefs instead of buying tissues.

6. Use a dishcloth instead of paper towels.

7. Wash and reuse foil wrap.

8. Turn off the TV. Don't watch the ads! (Anytime that you can avoid marketing and ads you reduce the chance that you'll spend money unnecesarily. Especially, try not to watch those late nite Infomercials! You do not need Snuggies! Well, OK, only if wearing that cute blanket lets you turn the thermostat down enough to pay for itself in saved energy costs.)

9. Unplug all electrical appliances not in use. (They use energy even when they're turned off, so they are still costing you money.)

10. Use cold water to wash your clothes.

Quote of the Day: Financial Freedom

"Money frees you from doing things you dislike. Since I dislike doing nearly everything, money is handy."
-- Groucho Marx (1890 - 1977)

A Pinchy Tutorial: Learn About Mutual Funds - The Difference Between a Load and a No-Load Mutual Fund

When you are trying to decide what mutual fund to invest in, you need to understand the difference between a load and a no-load mutual fund.

Here's what you need to know:

A "load" is a sales commission on the money you invest. A load mutual fund is one that charges you that commission on money that you invest in the mutual fund. This can be up to 8.5 percent of your investment.

A "no-load" fund does not charge a sales commission. It may charge other fees, which you can identify, but it does not charge a sales commission.

The big problem with a load mutual fund is that you pay that fee upfront. So when you invest your $1000, if the load is 8.5%, you immediately lose $85.00 to the fees. That's a big chunk of your money that is NOT working for you.

So why would anybody pay a load? Maybe you think a load mutual fund is better managed and so it will make you more money. That is not necessarily true. And in fact, the load mutual fund must perform better to make you the same return, as you have less money invested. This can be a huge difference over time.

So when you are figuring out where you want to invest your hard-earned money, look at no-load funds, look at low management fees, check the fund manager's track record as well as checking the fund's track record, and always be sure to read the prospectus!

Meet the First Online Bum!

Well here's a new one! Check out the first online bum. He has set up a web site, just to ask people for their spare change!

Here's the text from his first post:
"Welcome to a selfish cause yep. You see bums on every street corner, begging for loose change. I think it's high time that we have the first bum on the side of the Information Highway. That's what donate.2.me is all about. It's not a worthy cause. Heaven knows, we have plenty of those. It's not a scam. I tell you up front what I want - your loose change. And it's certainly not a guilt trip to make you part with your money."

And guess what? People are giving him money!

DearPinchy Quote of the Day

"The mint makes it first, it is up to you to make it last."
-- Evan Esar (1899 - 1995)

What Is a Mutual Fund? DearPinchy Explains the Basics

You know that it is important get out of debt, live within your means, make a budget and stick to it, not spend unecessarily, and save. But it is also important to invest. If you only save in a savings account, you lose money over time because interest earnings don't keep pace with inflation. To make higher return on your investments, you have to take some risk. Usually, the higher the risk, the higher the possible return. Unfortunately, as everybody is now learning through experience, that risk also means that you can lose your money. What is a mutual fund, and how can it be a good investment tool for you? This article teaches you how to understand.

A mutual fund is when different people put their money into the same pot, and the fund manager invests that money. The fund manager may buy stocks, bonds, money market instruments. Your money buys shares according to the price of the fund. The price/value of the fund changes according to the price/value of the shares that the fund is made up of.

The price of each share of the fund is called its NAV - its net asset value. The NAV of the fund changes every day, and is calculated by dividing the value of the fund's investments by the number of shares owned.

If the NAV goes up 10%, your own investment goes up 10%. If the NAV goes down 10%, your own investment goes down 10%. Like buying individual stocks, your investment can go up or down. Unlike individual stocks, your investment is spread over many different stocks/bonds/money market instruments, so your risk is also spread out. One stock may go up while another is going down, and your investment can then be less volatile.

So that's the basics. What kind of mutual fund should you look for? One that meets your investment criteria (are you looking long-term, short-term? how much risk do you like? do you want to invest in companies that help the environment, companies that support social good, particular sectors, index tracking funds, or whatever.) Stick with a company with a long and good track record. Look for a fund with low overhead fees. Check out the fund manager and see how good a job he/she has done in the past. All of these things will help you choose.