The mailer also included some great energy savings tips. I’ve highlighted the easy ones here and added some additional ones:

1. Lower your thermostat at night and when you aren’t home.
2. Use a programmable thermostat to do the above automatically.
3. Replace incandescent light bulbs with compact fluorescent light bulbs.
4. Turn off the TV and lights when not in use.
5. Wash laundry in cold water.
6. Buy Energy Star appliances.
7. Use the air-dry setting on the dishwasher.
8. Switch providers if you live in a state that allows competition between energy companies.
9. To determine which appliances are the biggest energy users, check out a portable energy meter from the library.
10. Save money on the largest category by trimming heating costs.

Extra Credit

If you made approved energy efficient changes last year, be sure to claim the energy tax credit on your 2007 taxes.

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Here’s some details about the program from the IRS: 

You may access free commercial online tax preparation and electronic filing services through the IRS website. Eligible taxpayers may prepare and file their federal income tax returns using commercial online software provided by the Free File Alliance companies – not the IRS.

Free File is only available to taxpayers who have a 2007 Adjusted Gross Income (AGI) of $54,000 or less. Individual company offers may be limited to specific states and include other criteria. Carefully review the Free File offer criteria before selecting the company. Each participating software company sets its own eligibility requirements.

I actually used the program a few years ago to complete a basic return for a family member. It was easy to use and I would do it again.

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Background

We have a 23 month old and a 3 month old. I tried to make a wishlist to give to grandparents of what the little one needs, after the failed college contribution idea. I could only come up with two things. The truth is, he really already has everything he could possibly need as a hand-me-down from his big brother. Therefore, we are just going to buy him a couple small things. We are not going to spend as much on his presents as we do for the our toddler.

Reasons

• It is a waste of money to buy things that aren’t needed just to meet the price quota.
• I don’t want to start the practice of the kids adding up the value of their presents to compare. This is a result of focusing on the dollar values of gifts rather than the gifts themselves.
• Excess isn’t necessary. We have hundreds of toys; we don’t need anymore.
• I want to set the stage for the future: sports, college, weddings, life, etc. If we gift one child money for a wedding and the other chooses not to be married, I have no intention of writing a blank check for the same amount.
• All Financial Matters brought up some additional reasons discussing the financial dilemmas of treating siblings equitably.

The bottom line is that being fair is not the same as being equitable. I’m treating my children fairly by meeting their needs, even if those needs come in different dollar amounts! Accept frugality when it faces you head on. There isn’t a need to spend the same amount on both kids, so don’t!

Action Plan

Of course this might be easier said than done, since my kids are both under 2. When they are older I’ll have to fight harder. At least for this Christmas, the little one is getting a couple small things. I’m sure he’ll be quite content… or probably asleep.

What do you think? Do you spend the same amount of money on your kids?

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Christmas is only 5 days away. If you are like me, some shopping is done but not all of it. The last few gifts sometimes turn into impulsive buying just to get the shopping done! Here’s some ideas to finish off the shopping without breaking the bank.

Gift Cards

A gift card is probably on the list for someone in your family. We purchased two this year. One was for my brother at Best Buy. I bought it at our grocery store where I was able to get 5% cashback on my credit card. To do the same use the list of gift cards Five Cent Nickel found at the grocery store. See Cash Money Life’s  how to buy gift cards at a discount for more ideas. In addition, many of the restaurants here are offering a free $5 in gift cards for every $25 you buy.

Regifting

My extended family has a fun tradition; all the gifts are regifts. We play white elephant style when we open the gifts and allow stealing of the gifts. It’s fun to see what people will pull out of their basement each year. If you are considering regifting, check out: Is regifting ok? by Free Money Finance. Opinion Mom debates whether or not to regift and Queercents discusses the art of regifting.

Return Gifts

Take a look at all the gifts you have bought so far. Are any of them above your budget? Did you use your credit card because it cost “a little” too much? Separate the gifts into two piles. Pack up the gifts that fell into the over budget pile and return them! One of the best ways to pay down debt is to avoid incurring it in the first place! You still have time to purchase a more affordable gift for the person on your list. Gather Little by Little recently stopped himself while in the store from overspending on a gift.

Wait It Out

Because we have 4 different family Christmas celebrations, our holiday starts early and ends late. Take advantage of the later events buy buying gifts after they go on sale after Christmas. Read more about buying gifts after Christmas and waiting until January to purchase gifts.

More Ideas

Do you have more ideas? Feel free to share them in the comments.

Stay tuned to see how I’m spending less on my kids by not conforming to the equality mindset.

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I have mentioned before that I have completed tax returns for Volunteer Income Tax Assistance (VITA). If your are wondering what it is all about, here’s more information about the program:

Summary from the IRS website:

The VITA Program offers free tax help to low- to moderate-income (generally, $40,000 and below) people who cannot prepare their own tax returns. Certified volunteers sponsored by various organizations receive training to help prepare basic tax returns in communities across the country. VITA sites are generally located at community and neighborhood centers, libraries, schools, shopping malls, and other convenient locations. Most locations also offer free electronic filing. To locate the nearest VITA site, call 1-800-829-1040.

Locations

Many sites partner with local organizations or revenue departments and maintain an online list of VITA sites. Here are some I found:

• California
• Wisconsin
• Utah

Purpose

The IRS also sponsors a Tax Counseling for the Elderly (TCE) Program for people age 60 and older. The idea behind both programs is to help people navigate through the difficult tax law and get money back into the hands of those who need it the most. For example those who qualify for the earned income credit or homestead credit. Without these programs, many filers who are due to get money back simply would not file.

My Experience

Our local site offers free efiling. We do not have an income limit at our site, but rather a requirement that the returns be straightforward. We target those who cannot afford paid assistance. However, we don’t want to keep volunteers idle either; often on slow days we will prepare other returns. When you call to find your local site, ask about the requirements.

Volunteering

If you have a basic knowledge of taxes, it is also a great organization to volunteer for:

• During training, you review the new tax law changes for the year.
• You learn about commonly missed items to watch for.
• Often you can efile your own return during downtime. (This is encouraged during our training session to give you a dry run).
• Tax returns are filed using Tax Wise software.

Many sites are beginning training sessions now and open in January and early February for filing. It’s a great organization to check out whether you want to use the service or volunteer!

See 2007 tax information for all the limits you need to know to get ready for tax season.

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Have you seen any good credit card offers lately?

Cashback, 0%, and signup bonuses all come to mind. There are others that are already maintaining lists of the best cards. Here they are:

• Consumerism Commentary has a list of 0% APR Credit Cards: 79 Cards Offering 0% APR on Purchases, Balance Transfers, or Cash Advances.
• The Fatwallet Finance forum maintains a great list of cashback cards.
• App-o-rama, also has a list of 0% cards and signup bonuses.

Here’s the cards we use:

• FIA Card that deposits 2% cashback into our kids 529 plan.
• Chase card that refunds 5% for groceries, gas, and drugstores.
• Store cards for promotions: Target, Old Navy, and Kohl’s.

We also have many more cards that get dusted off when an irresistible offer comes in the mail.

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Using themes also makes decorating easy each year. Group items of the same theme together in the same room or area. Because the decorations are coordinated, you can get away with less, and it still looks great.

Other fun tips for holiday decorations:

• Have an ornament exchange instead of exchanging presents. It’s cheaper, more fun, and is a reminder of the person the ornament came from each year.
• Make decorations and ornaments using food: candy canes, strings of popcorn, etc.
• Use handmade ornaments. Kids love to make ornaments, especially with pictures in them.
• Build a gingerbread house! I’ve been wanting to do this for years.

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Easy enough, just pay it off before the rate changes. So when exactly is that? The closing date on the last bill I got was Nov. 12. The next payment is due Dec. 2. I can’t tell when the next closing date is or the next due date. I need to pay my card in full by one of these dates, I just didn’t know which one:

• December 1 (day before due date)
• December 2 (due date)
• Day before next closing date
• Day of next closing date
• Day before due date of December bill
• Due date of December bill

For each day that I miscalculate the date by, I’ll have to pay either $22.20 or $36.75 in interest per day. Even that I really can’t tell because there are two APRs stated (13.74% and 22.74%). Either way it is a hefty price.

With good intentions to pay off the balance before the interest accrues, the credit card companies make it really difficult to figure out. Ultimately, I decided to call because I really couldn’t tell.

I asked when the 0% expired and American Express informed me that I had 0% through billing period ending December 2007. Yeah, I already knew that. When I pressed for a calendar date, he told me December 10 (my next closing date). When I confirmed that if I paid it on December 10, I wouldn’t have to pay any interest, he stated, “To avoid any interest you need to pay it on December 9 by 11:59 pm. I didn’t ask which time zone!

Action Plan

I’ll pay it off in the next couple days just to be sure. In this case I couldn’t have known the exact date without calling. The lessen here is to always call and confirm. The end dates of intro rates are always worded somewhat vaguely and differ with each company.

See how much credit card debt we have and why.

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As with all things kids, the equipment is quickly outgrown and often only lasts one season. Here’s where a swap sale, or resale will be a great solution. There is lots of selection, new or gently used equipment, and great prices. It also offers a place to resell our old equipment and recoup some of the cost.

Tips for getting the right equipment

• Arrive early. Kids equipment is usually a hot item and sells fast. Find out ahead of time when the lines begin to form. Here people wait in line for hours before the sale starts.
• Do your research ahead of time so you know exactly what you want. Make sure you know the appropriate sizes and conversions.
• When buying used sports equipment, make sure the organization is checking for and avoiding selling outdated or recalled items.

I prefer the swap sales over rentals because you can usually resell the equipment for a similar price. In the long run, it is often cheaper to purchase used equipment rather than rent. In addition, the sales attract many sellers, so you can be much more efficient than shopping on Craigslist or eBay.

Look for other clubs and organizations that offer swap sales for sports equipment, as I’ve heard about them for other sports.

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College Saving Tip: Heating Water Energy

Consider installing a drain water waste heat recovery system. A recent DOE (Dept Of Energy) study showed energy savings of 25% – 30% for water heating using such a system. If you save only $15 a month, you could save over $4,500 in 15 years. — EERE.Energy.gov

Did You Know: Air It Dry

If your dishwasher has an air-dry setting, choose it instead of the heat-dry setting. You’ll knock 15% to 50% off your energy use. If there’s no air-dry setting, turn the dishwasher off after its final rinse and open the door. The dishes will dry without using any extra electricity. — Seattle.gov

I’m going to have to check on the drain water waste heat recovery system. When we built our house, we built an energy efficient green-built home, but I’m not sure if we have this recovery system. We do have some kind of hot water “loop” but I’m not sure exactly how it works.

Using the air-dry setting on the dishwasher, however, should be a relatively simple idea to put into action!

Here’s some more posts on energy saving tips:

• Ten Easy Energy Savings Tips
• Slash Your Winter Heating Bills – 10 Inexpensive Ways to Save Big This Winter @ Cash Money Life
• Frugality in Practice: Keeping Warm in Winter @ Get Rich Slowly

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Last time I checked the post office didn’t offer any Black Friday sales or holiday discounts. Here’s the various methods of buying stamps to save some money and the discounts available:

• At the grocery store or drugstore using a 5% cashback credit card.
• On eBay, where the discounts average about 5.5% plus 1% cashback from Fatwallet.
• Buying drugstore gift cards on eBay or craigslist averaging 11% off, then using those to purchase the stamps.
• Direct from discount sellers, who obtain them in bulk from collectors saving 3% for current stamps and up to 16% for vintage stamps.

Two years ago, we did a mailing with vintage stamps. It was a lot of fun and we got a lot of comments about our unusual stamps. Because they are old, you often need 2 or 3 stamps to add up to the current stamp price.

In addition, keep your eyes peeled for unusual places that sell stamps. I have a nearby convenience store that recently offered giftcards at half-price. They sell stamps, so I’ll be getting a 50% discount on my stamps this year!

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That’s it. Because of the latter condition, most women probably have a section of the closet devoted to a pile of dresses. Only worn once, and usually in such a color that they can’t really be worn again, the bridesmaid dresses will likely never see the outside of the closet again.

Get Rich Slowly recently had a guest post Beating the High Cost of Weddings: How We Did It, and How You Can Too. It made me think about one of the costs that is hard to beat: being an attendant in a wedding. It’s a great honor, and I have truly enjoyed being in lots of weddings, but it is a cost that you cannot really control once you accept. Bridesmaid dresses have the hefty pricetag of a formal gown, but not much use besides the wedding itself.

Dress Donation

I wasn’t sure what to do with the dresses until I found Brides Against Breast Cancer. They accept donations of wedding gowns that they resell. The money raised is used to grant wishes for terminally ill breast cancer patients. The dresses (including shipping cost) are tax-deductible.

Last year I donated my wedding dress*. This year I’d like to box up the bridesmaid dresses and send those off too. In fact, I might just have all the women that attend our yearly holiday party bring their dresses and we’ll send them all off. Readers, I encourage you to send off your (or your wife’s) dresses too!

They currently accept the following:

• Contemporary wedding gowns (1995 to now)
• Bridesmaid, mother of the bride and flower girl dresses
• Wedding specific items such as veils, shoes, purses, slips, bras, etc….

Stop by when I raid the rest of my closet!

*Technically I kept the dress I wore on my wedding day as a keepsake. But I had two dresses due to a “bridezilla moment” two weeks before my wedding. I donated the one I didn’t wear.

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