Having a limited budget doesn’t have to limit the fun you can have with your friends and family. You can still plan a party that everyone will enjoy. Here are some frugal ideas for your Labor Day party this year.

* Host a potluck. Who doesn’t enjoy a potluck meal? As the host, having a potluck is an easy and frugal alternative for you. The food is often the most expensive part of any gathering. When you invite your guests to bring their own, this will cut down on the cost considerably. As well, your guests will enjoy sharing their favorite dishes. With so many different foods to choose from, there is sure to be something that even the pickiest eaters will like to eat.


* Bring your own side dishes and desserts. If you don’t want to host a potluck, you can still cut down costs by inviting guests to bring side dishes and desserts to share. This way you can prepare a main course, but still save money by not spending for other foods. You might want to make a list of what everyone is bringing so you don’t end up with a table full of desserts and no potato salad.

* Borrow party equipment. When you’re having a party, everyone wants to come. You don’t want to hurt anyone’s feelings by leaving them off the list. Besides, the more the merrier! But you may not have the equipment you need to host a large gathering. Instead of spending your money on extra chairs and tables, invite everyone to bring their own. See if you can borrow an extra barbeque instead of renting one to grill burgers for everyone. You may even want to see if anyone has a canopy you can borrow so you can stay outdoors where there’s more room if it rains.

* Plan a party in the park. Hosting a party in a local park could be a great way to keep things under your budget. There is usually a covered area you can use, as well as fire pits or grills. You might have to pay a fee to rent the area. However, you can also split the costs with other friends or family members who want to co-host the party with you.

* Play old-fashioned party games. Entertainment can take a big bite out of your party budget. If you’ll have kids at the party, see if any of your guests would like to paint their faces or make balloon animals for them. Old-fashioned party games like horseshoes or a scavenger hunt can be fun for everyone at the party.

Labor Day is definitely a day worth celebrating! These frugal ideas will help you celebrate the last long weekend of summer while still staying under your budget.

Here are some ideas for finding last-minute Labor Day getaways for less.

* Check out expedia.com. Expedia.com lists last-minute deals and offers for travelers looking for a quick getaway. When you find a trip that appeals to you and is in your budget, be sure to book it right away. Their great deals are often scooped up almost as quickly as they are posted.

* Tell your friends. Spread the word that you’re looking for a last-minute Labor Day getaway deal. They might know someone else who isn’t going to be able to make theirs, and connect the two of you. They also may have heard of other getaways you haven’t.

* Check for seat sales. Airlines often have last-minute deals for travelers on some of their flights. If you’re flexible as to where you travel to, you may be able to fly there at a much cheaper rate than normal. You may not be able to travel on the exact date or at the exact time you want to, but if you can pick up a seat sale, you can travel for a lot less than you normally would.

Call your local airlines to find out if they have any sales and what their destinations are.  Your savings on the flight could mean you have more money to spend on fun once you get there.

* Read the newspaper ads. If your local newspaper has a travel section, start scanning it for ads for cheap travel packages. As Labor Day approaches, you might start seeing some of these. When you find one you like, be sure to book it right away as they are usually booked quickly by other savvy frugal travelers.

* Call your favorite hotel chain. They might have a sale on room bookings. Call and see if they have any special sales on for Labor Day. Again, you might not be able to be picky about where you go, but the savings could make it all worthwhile.

* Search on the internet. The internet is always a great source of last-minute information. Search for cheap trips to your destination and see what comes up. Remember to research any opportunity thoroughly before sending any money.

The Labor Day weekend is summer’s last hurrah! Make the most of it by booking a last-minute getaway without breaking your budget.

* Instead of renting out a hall or a venue for your party, consider having it at the park. Some parks will charge a deposit or a small fee to rent the park area for the day while others require a permit for parties, so be sure to check the local regulations.

* It can be tempting to want to hire a caterer or to order food for the party, but your budget could be better served if you made your own food. You can also hold a pot-luck where all guests are responsible for bringing one food or drink item. This can help to ease the cost on a tight budget. For birthday parties, instead of buying a cake, bake one yourself or have a family member or friend bake the cake for you. This will save money and you can have fun decorating the cake yourself.

* Planning ahead always helps to ease the budget as well. Decorations and such can be purchased beforehand so that all expenses are not paid for at once. Sometimes putting items on layaway can be a big help as well.

* Instead of buying favors at the store, consider making them yourself and involving your family, including children, in the process. Making handmade favors or paper goods can be a great bonding activity. So, in addition to getting a task accomplished, you will be enjoying some family quality time as well.

* Bring your own music. Some events may call for music, but skip the DJ – instead bring a stereo with CDs or even an iPod with songs pre-loaded. DJs can cost several hundreds of dollars but a stereo will keep playing music long after your guests are gone.

Planning a party is a fun endeavor, but not budgeting properly can make the party cost a lot more than planned. Consider having your party in a park atmosphere and providing the food and music yourself. You can enjoy family quality time if you make your own party favors and enlist the family help while doing so. Remember, it’s not the amount of money spent that makes a good party, it’s the company.

Using the internet is one of the top ways to save money on your next trip. Not only are the prices the cheapest, but it can be smarter than booking months in advance where if your plans change, you are out all that money. Here are four last-minute tips to help you save a serious amount of cash:

#1) Get on travel sites’ email lists

If you are really flexible, this is a great option. These companies will often times send you last-minute deals. And don’t forget about the airlines themselves. Getting on their mailing list is another great way to find the top deals.

While this can offer great savings, you have to be ready to go at a moment’s notice. And you have to be flexible about the location. Since most people are unable to do this, you have little competition for these deals. This is one of the best ways to save money if you are completely flexible.

This can be a really fun strategy in addition to saving you money. Often times over-planning takes all the fun out of a trip. This strategy will force you to keep planning to a minimum. You just claim the deal and leave.

#2) Book your trip 1-2 days prior to leaving

Remember, airlines and hotels hate empty rooms and seats. Therefore, they often lower the prices for short-term travel if they have vacancies. Most people mistakenly think you need to book months in advance to save money, but this is not the case.

Where should you book?

Orbitz and Expedia are great places to start. And to get further savings, try to plan your trip between Tuesday and Thursday. This ensures you avoid the long weekend price hikes.

#3) Use auction sites

After you’ve looked on the traditional sites, consider bidding on auction sites like Priceline.com and others. Often times this enables you to save even more money.

#4) Do not go during peak times

Avoiding the weekends is your best bet. Consider going offseason as well. In most instances the fall, spring and early winter are the least busy times.

One of the best travel dates is the first week of December, because this is the time the fewest people travel. Therefore, going then will save you money.

The bottom line is, last minute trips can be great deals when done right. It won’t work if you are going to Disney World during Christmas Break, but if you avoid the peak seasons you will save a lot of money.

Avoid going to the grocery store without a written list of what you’re there to buy. If you don’t have a plan, then it’s easy to fall prey to impulse shopping and add unnecessary items (cookies, chips, and sodas are common culprits) to your cart. An important way to make sure you stick to your list is never to go to the grocery store while you’re hungry.

2. Plan Your List with Store Ads

When you’re preparing your shopping list, it’s often a good idea to check your grocery store’s newspaper flyers. This way you can plan your meals based on what meats, fruits, vegetables and other items are on sale that week. If you don’t read the newspaper, don’t worry – most chain grocery stores also publish these flyers on their websites.

3. Compare “Per Unit” Prices

We all know that we should be comparing prices, to make sure that we don’t pay too much when we have choices between brands. But we also need to compare the “per unit” prices – so that if there are two different package sizes of the same item, we can make sure we’re getting the best deal.

The price tags on the shelf will usually (in smaller print) give the “per ounce” price (or the “per unit” price if it’s sandwich bags or something that isn’t sold by weight or volume). This makes it easier to compare the price of two different-sized packages, so that you can see how much you’d save buy buying the larger package. Make sure you’ll use everything you buy, though – if you end up throwing away half of the larger package because it goes bad, then you’re probably not saving!

4. Store Shopping Card

If you haven’t done so already, sign up for your store’s shopping card or loyalty card program. Doing so generally only takes a few minutes, and it makes it extremely easy to save more on your grocery bill. Just present your card when you’re at the checkout and you’ll automatically save.

5. Don’t Forget about Coupons

Of course, there’s always that old money-saving standby – coupons. Many magazines, and probably your local newspaper, still publish them. Chain grocery stores and food companies also let you print out coupons from their websites. And don’t forget that many stores still have days where they double the value of the coupons you use.

By using one or two of these tips you’ll save a noticeable amount on your weekly grocery bill. If you use them all, you can help your family’s budget even more!

I like that he doesn’t preach, instead he brings his ideas across in an entertaining, easy-to-read, but very practical and down-to earth style. He talks about the important parts of achieving financial independence, banking, saving, budgeting and investing, and how to do it wisely.

The book - I Will Teach You To Be Rich can be read in conjunction with his website, iwillteachyoutoberich.com, where he provides you with the latest and up-to-date information, a financial blog, and more advice on how to build your own personal wealth.

Overall, I like the fact that the author writes in a clear and to-the-point language on how to implement his many suggestions on conscious budgeting and spending. Learn how to manage your student loans, the low-down on credit cards and bank fees, how to be frugal without being cheap and other invaluable advice.

One of the Customer Reviews By Susan Roberts

5 stars: Not your parents’ money management book, March 23, 2009
This review is from: I Will Teach You To Be Rich (Paperback)

First, here’s what this book is not: It’s not your parents’ money management and investing book, although as a parent I wish I had done in my twenties what Ramit Sethi tells the twenty-somethings they should be doing right now.

Ramit starts with the premise that most people are so overwhelmed by the sheer amount of financial information available that they just shut down and do nothing. So Ramit tells you exactly what to do with your money and why. Want to know whether it’s smarter to pay extra on your student loans or put that money into your 401(k) instead? Ramit will tell you. Want to know some specific financial companies that offer the low-cost index funds you should invest in through your Roth IRA? Ramit will tell you. Do you not even know what the heck an index fund is? Ramit will tell you!

Ramit also tells the truth about brown bagging your lunch and curbing your latte habit; and the truth is that these actions on their own are virtually pointless. Instead, you should go after the big wins, like getting the lowest interest rate and the best price on your next car because you have impeccable credit and negotiated “like an Indian” (negotiation scripts included).

Ramit maps out exactly how to get from where you are now to where you want to be financially, including how to create a personal money management system that practically manages itself. Ramit’s system starts with a no-fee checking account and an online high-interest savings account. (He even tells you which online bank he uses.) He then walks you through setting up automatic bill payments and regularly scheduled transfers to your investment accounts. Throughout, he includes easy-to-understand charts, as well as short pieces by other personal finance bloggers.

I wish I could quote some of the passages that I found especially useful or entertaining–Ramit writes with an appealing, if oddball, humor–but I have already mailed my copy of the book to my 24-year-old son, who called me last night to tell me it never would’ve occurred to him to ask his bank to waive an overdraft fee. (That gem is in chapter 2, I think.)

Thank you, Ramit! I hope this enthusiastic review by an “old person” will not stop the young people from buying your book!

Get the Book NOW:

For example, people often purchase cars based on the status symbol level of that car. So even though budget-wise a small car might suit a particular family, depending on where they live and how pressured they feel they may choose to purchase a car too large for their purposes and beyond their budget – just because of the image it presents.

Let’s say the Jones family lives in a well-paved suburb with no rough terrain, yet they choose to purchase a high-end, rough terrain vehicle like an SUV. They do so because the car company marketers create ads that position this vehicle as the choice of successful families. Add to the fact that those buying into that ideal are filling up school parking lots where other parents can take a visual sample of what their peers are driving, and you have post-elementary school peer pressure at its best.

This kind of pressure permeates so many aspects of our lives and can lead us further away from our financial goals and closer to damaging debt. Here’s how to take steps to get rid of the “keeping up with the Jones’” mindset:

1. Envision the activities and lifestyle that will honestly bring your family happiness. Then think about how your life would be without major debt. It’s likely a far better lifestyle than life with debt. Make a plan with a start and end date to clear off your debt. Take it in manageable chunks, clearing off a bit of your debt every month or bi-weekly.

2. Before you make any major or minor purchases, think about how that purchase will impact your finances. To do this you need to first create a family budget (one that includes your debt reduction plan) and follow that budget. Then before you go shopping, determine what is necessary and what you can purchase using cash – and stick to that strategy.

3. Start to appreciate what you have in your life, instead of what you don’t have. You may think you want a BMW or a larger house, but would it really make you any happier – especially if the bank owned most of it?

4. To help you appreciate what you have, take a deeper look at your home, your career and their impact on your family life. Instead of incurring greater debt by moving to a home you “think” you need, perhaps there are affordable improvements that you can make to your home that will increase their value to you and your family. Maybe you can start a business or change jobs to improve your satisfaction with your career or earning potential.

5. Be selective with respect to the people you bring into your family’s life. If there are neighbors or friends who have a materialistic approach to life that causes you to want to spend, spend, spend, limit your interaction. Don’t feel obliged to surround yourself with people who don’t share your values just because they’re neighbors or old friends. It may take time to build up your resistance to old habits, and you’ll need to keep negative influences at a minimum.

Appreciating the real assets in your life – family, your health and a home you can afford, are good things to value now and always.

Taking a vacation is supposed to help alleviate stress, not add to it. But for those of us who do not have unlimited funds to work with, it can do just that. Planning fun for the whole family and providing for transportation, meals and accommodations can be tricky, and paying for it all can be even trickier.

We all know how important it is to have a household budget. But we tend to forget about budgeting when it comes to vacations. If we can create a vacation budget and follow it closely, it can help us enjoy our getaway without worrying about money.

How Much Can You Afford to Spend?

In order for a vacation budget to work, we must first determine how much we can afford to spend. If you have money set aside in a vacation fund, this might be the easy part. But if you’re working with money from general savings or a tax refund, it will require some thought.

Spending every penny you have that isn’t required for bills on a vacation is not a good idea. Having an emergency fund is important for any family. If you already have plenty of money put away for emergencies and the bills are paid, using your tax refund for a trip isn’t such a bad thing. Otherwise, take care of the more important stuff before you allocate funds for vacationing.

If you just have a savings account but haven’t decided how you will use the money, resist the urge to spend it all on a vacation. Setting some money aside for a rainy day will do you a lot more good than hitting all of the hottest spots on your trip. The general rule is to have at least enough money put back to pay all of your expenses for at least three months. If you’re nowhere near that point, try to keep enough to at least have a good start toward that.

What to Include in Your Budget

Vacation expenses have a way of sneaking up on us. And that’s exactly why a budget is so important. It forces us to consider all possible expenses and account for them so that there are no surprises. Here are the basic expenses you’ll need to account for:

* Transportation – This could be airfare, bus, or train fare, or gas for a road trip. If you’re not taking your own vehicle, you’ll probably also need to rent a car when you reach your destination. And then there’s the gas you’ll use while you’re there.

* Accommodations – Unless you’re doing an at-home vacation or staying with a friend or relative, you’ll have to pay for a place to stay.

* Food – You have to eat while you’re on vacation. Some packages include a meal plan, but if yours doesn’t, you’ll need to budget for your meals. You can save money by taking your own food to prepare if you rent a place with a kitchen.

* Entertainment – This is a biggie. You have to pay to get in to the beach, amusement park, or whatever other attraction you’re visiting. But there may be times when you or other family members want to do something else, so be sure to account for that as well.

* Shopping – When most people go on vacation, they come home with souvenirs. So it’s important to set aside some money for them.

Money should not be a constant worry when you’re on vacation. It will be if you do not set a budget.  So, if you set a budget and stick to it, it doesn’t have to be.

Account for all of your income. Include all the regular monthly jobs that you receive a paycheck from. Even if more of your income goes to pay the bills, include both incomes in the household. Single parents that receive alimony or child support payments from a former spouse can include this as a part of the regular earnings for the month.

What are your expenses? The usual expenses include rent/mortgage, car payment, insurance, utilities, and credit cards. We all have other expenses that we can think of and those are included when you calculate how much you spend.

The budget is taking shape. When you add up the expenses and subtract them from the earnings, there will be a positive or negative number at the end of that equation. A positive number is good. It doesn’t mean that you don’t need a budget, but it is a clear sign that you are already making progress in the right direction.

A negative number means that you are living beyond your means. This doesn’t include any impulse spending, unless that is why you have credit card bills. A negative means that you have to find a way to cut spending and bring more money into the house.

Examine those credit card bills. For one thing, the interest rates on those things are outrageous. Leaving a balance at the end of each month is a costly thing to do. The finance charges and interest compounded daily will kill you if you ever fall behind on a payment.

If you are using the credit cards to pay for necessary items like groceries, car repairs, and unexpected bills, consider adding an emergency fund category to your budget. This is a place to keep money to use in the event of an emergency. An emergency fund keeps the budget going despite a need for cash.

Treat the emergency fund like another savings account or investment. Make allowances for contributing money to each of these. For a regular savings account, that means money that will be shifted to investment vehicles like IRAs and CDs when the amount reaches a certain limit. The emergency fund money is at your disposal should anyone need it.

Once all numbers are plugged in and you’ve set up spending limits for categories, it is time to put the budget in place. If you have to, withdraw cash from the bank and put it into separate envelopes that represent each category. When the money in the envelope is gone, so is the spending for that category.

Budgets are not set in stone. As you go from month to month, have a review to change amounts as needed. If you have set aside even five or ten dollars each month, that is five or ten dollars more than the previous month. Success can come in small steps.

To learn how work a budget for yourself, check out this book to help yourself The Budget Kit: The Common Cents Money Management Workbook

One of the most popular best-selling books, Judy Lawrence’s The Budget Kit is exactly what a family needs to manage their finances.

The product review description of this book highlights how you can learn to:

* “Create a simple, functional system for managing your finances, with or without financial software
* Navigate the latest developments in the paperless world of electronic banking
* Discover the freedom of being able to achieve your personal and financial goals
* Make a plan to pay off debt and plan for the future”

At an affordable price of $13.57, this book has been used by more consumers than any other. The Budget Kit utilizes a system of accounting that is easy to follow due to the included work sheets that gives you the opportunity to track every expense down to the last penny.

The book is an 8 ½” x 11″, and the inside pages are perforated so each worksheet can be torn out and placed in a binder. The book contains a year’s worth of monthly worksheets.

Families who have used this book for their household budgeting have found it to be an “eye-opener.” Moreover, it allows you to keep track of what you actually spend each month. It has afforded those who have not been able to stick to a budget to do so in a realistic manner. The Common Cents pages in this book have made a significant difference in how money is tracked and spent.

The book itself contains worksheets for tracking income, recording non-monthly expenses, recording subscriptions, recording credit card purchases, recording debt payment, tracking debt payoff, tracking savings, planning gifts, planning holiday expenses, recording online and mail order purchases, recording wants and needs, recording financial goals, a Monthly Budget Worksheet, and more.

Everyone who has used The Budget Kit agrees that they have saved money time and time again because this system is better than any software available today.

Oftentimes, when presented with new financial software programs, they work as long as you have the commitment to follow through. But, after a while, you may skip a few months and then abandon the program altogether.

With The Budget Kit, you don’t need a computer – all you need is to devote two hours a month recording income and expenditures. Think of it as a visual aid that can teach you what habits need to be modified in order to change the mindset that will lead you to a healthier financial outcome.

For more information on this book, go to Amazon.com at: The Budget Kit: The Common Cents Money Management Workbook

Review
“A foolproof way to organize and maintain a personal budget.”—Publisher’s Weekly

“I recommend The Budget Kit over other budget books because it doesn’t just give you blank spaces to fill in. It really explains the hows and whys. Even if you’re already in debt it can help you pay off those debts when you know where the money is.”—Terry Savage, Author, The Savage Truth on Money