As 2010 comes to a close, keep some money in your pocket when bellying up to the bar or the fast food counter, considering luxury “status” purchases, shopping the post-Christmas sales, and planning your kid’s birthday party.
3 Things to Do Before Giving to Charity. It’s OK to want to get the most bang for your buck no matter if you’re shopping for groceries or shopping for the charity doing good works. With that in mind, take steps such as checking out the group’s mission statement (does it have a mission statement?), and never giving into pressure into donating over the phone, at the cash register, or at your front door unless you really know who you’re dealing with:
Don’t ever hand over money – even pocket change – without verifying who you’re donating to, even if they claim to represent a legitimate charity. If you want to donate, send a check directly to the charity.
4 ways to save money at bars. “Be an attractive, unattached woman” is known to work, though it’s not on this list. Tips such as seeking out happy hours with sites like happy-hour.com make the cut, as does utilizing discounted coupons from Restaurant.com. But only after you’ve considered the downsides:
Read the fine print carefully. The restaurant whose coupon you’re purchasing generally sets stipulations regarding the coupon’s use, including days of the week that they can be used, minimum dollar amounts of purchases, etc. Also, smaller towns have a more limited selection of participating locations. If you’re hung up on the fact that a minimum purchase is required, try convincing your group to go in on one.
5 tricks companies use to part us with our cash. It’s sometimes mystifying what’ll trigger consumers to buy. For instance, we’re more apt to purchase products with brand names that rhyme or sound musical or just plain nice:
Coca-Cola. Lululemon. Hubba Bubba. Say those brand names out loud. They all have a certain musical quality to them, and that’s intentional. There’s a reason why companies spend millions of dollars finding the perfect brand – a lousy name can sink a product. Consumers are highly influenced by names with a repetitive rhyme…
(Read: 10 Neat New Money-Saving Sites Consumers Need to Check Out)
5 species of luxury consumers. What’s most interesting here is that the richest, most stable group represented here—Old Money Households—are the most frugal of the bunch, representing just 7% of luxury spending. What species buys the most luxury goods overall? The wannabes, a.k.a.:
The Aspirationals. Those with $85,000 or more in annual income in developed markets or $29,000 in emerging markets account for four out of every five luxury purchases in the markets studied, according to BCG. They aren’t big spenders individually, but together they account for a third of all luxury spending.
6 emotional pitfalls to avoid when returning unwanted gifts. Will returning a gift from a beloved, or even merely sorta-liked family member make you feel bad? Perhaps. But there’s another question that must be dealt with:
The last thing you want to do is to hurt your grandmother’s feelings when she comes to visit and asks, “Where’s that vase shaped like a cow’s udder that I gave you for Christmas?” The second to the last thing you want to do is have a vase shaped like a cow’s udder on public display in your living room.
6 tips for “regifting” unwanted gifts on eBay. OK, once you’re over the guilt of getting rid of an unwanted gift if you don’t have a receipt and maybe don’t even know where it came from? That’s what eBay is for, and making your sale in a professional manner helps your cause:
Write concise, accurate descriptions. While you don’t need to be a professional copywriter, a small note on how the buyer will benefit from certain items can enhance the appeal. Say you’re selling a little black dress. You could write “great for that New Year’s Eve bash or Valentine’s Day dinner for two.” One phrase evokes celebration and romance — all in one form-fitting cocktail number.
8 items to pick up at post-Christmas sales. Christmas merchandise, obviously. But also consider:
Ageless Clothing Styles
A classic white shirt never goes out of style but low-slung jeans are out the door. Look through styles by Liz Claiborne, Ralph Lauren and other designers who rarely age, then shop bargain racks for similar pieces.
9 ways parents can save thousands next year. A few changes in ’11 can add up to $3,000 more in the bank. Here’s one resolution that’ll save $100 or so:
I Will Tone Down the Birthdays: If you want to have a birthday party for your one-year-old to celebrate her first year of life, great. But be honest about what it is: It’s an adult party to thank your family and friends for helping you get through the year. Don’t even think about hiring a clown. After that, stick to the age-old rule: number of guests should equal the age of the child. A 2-year-old gets two guests, a 3-year-old gets three and so on.
(Read: New Year’s Resolutions, the Good, the Bad, and the Annoying)
10 craziest money blunders of 2010. Here’s hoping you’re not on this list. But Wesley Snipes is:
Background: After being convicted in 2008 for federal tax evasion, Snipes finally began his three-year prison sentence. The actor failed to pay any income taxes for a decade, including $38 million in income earned between 1999 and 2004 alone.
The Moral of the Story: You can protest the federal income tax law all you want but, if you’re smart, you’ll still pay up.
10 worst fast food creations of 2010. Here’s hoping you haven’t eaten anything on this list. Taco Bell’s $2 “meal” deal has been nominated—not because it’s sort of a gateway snack, but because it falls short of earning the title of “meal”—and of course there’s KFC’s Double Down:
Food bloggers the world over couldn’t shut up about KFC’s infamous sandwich — bacon and cheese wedged between two pieces of fried chicken. Most expressed horror about the fact that it has 1,380 mg of sodium, while one (clearly confused) reviewer called it “man’s greatest achievement.”
15 best money-saving tips from 2010. Among other things, the folks at Consumer Reports suggest:
Switch to store-brand everything!
Or at least give these products a try. Every year we test dozens of store-brand items and we find that many of them are just as good or better than brand-name products. In 2010, we tested wines, foods, cleaners, and vitamins. And we found that store brands can save you up to 60 percent.