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.

* Look at your current situation - Ask yourself why you want to refinance your mortgage. Is it because everyone says you should, or is it because you need to do so to drop your mortgage payments? Is your credit as good as or better than it was when you took out the first mortgage? A worse credit score could actually raise your interest rate. Is your house worth more than you owe? If so, then you may not be able to find a lender willing to take on that risk.

* Try your current mortgage holder first – If you have been a good customer, your current mortgage holder could be your best bet for obtaining a refinance. They may make you a better offer just to keep you as a customer. There also may be some advantages such as a reduction of fees.

* Investigate the interest rates – Shop around and find out what the best interest rate is that you can get with your current credit and income. Your rate may not be the one advertised by the lender and don’t forget the PMI, points, and other factors. It makes no sense to refinance your mortgage if you are going to end up paying more in the long run.

When you add up all the factors, if your new interest rate will be less than half a percent lower than your current one, then you are better off staying with what you have.


* Pay down your mortgage – If you owe more than your home is worth, you will probably not be able to refinance in a tight mortgage market. If possible, pay down your mortgage by several thousand dollars over the next few months before attempting to refinance. Your chances of refinancing, and of reducing or eliminating PMI, should be better afterwards.

* Wait it out - Even though everyone is touting the benefits of refinancing, you might find it’s not worthwhile to you. If you plan to sell in a year or so or if you can’t get a better deal, then just wait. Selling in a few years could net you more profit if you continue making your normal payments now. If you aren’t selling but have paid down more of your mortgage and improved your credit rating, you could get a lower interest rate even if overall rates have gone up.

Refinancing your mortgage can be frustrating, but keeping these tips in mind will help to smooth the process.

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.

The author, Ellie Kay, a family financial expert, talks you through specific cost cutting strategies, such as coupon cutting, comparison shopping, cutting food bills in half, cutting debts and clothing costs, saving money on vacations.

I like the fact that the book comes with charts, worksheets and plans to work from to explore the feasibility of staying at home and living on one income. Also included are real life stories, which make this book a very interesting and informative read.

Overall, the book is a great guide for any couple trying to figure out if they can live on one income and make it work.

Drain Unclogger and Freshener – The next time your drain is plugged, choose a safer and more cost-effective way to unclog it. Pour ½ cup of baking soda down the drain. Add 1 cup of hot vinegar. Wait 5 minutes. Flush the drain with 2 quarts of hot water. Repeat if needed.

Home-Made Glass Cleaner - To clean glass, combine 2 cups water, ½ cup white vinegar, and ¼ cup rubbing alcohol. Store the mixture in a clean spray bottle. To use, spray the solution on a rag or paper towel then wipe glass.

Home-Made Furniture Polish - Make your furniture shine by mixing 1 cup of olive oil with ½ cup of lemon juice in a clean spray bottle. Shake the solution well before each use. To use, apply a small amount to your cleaning cloth or rag. Spread the polish over the furniture evenly. Dry the surface with a clean cloth.

Home-Made Multi-Purpose Cleaner - You can easily keep bathroom and kitchen surfaces clean with this solution. Mix 1 cup of white vinegar and 1 cup of water in a clean spray bottle to create your own multi-purpose cleaner.

Home-Made Floor Cleaners - Commercial cleaners are handy, but these are very simple to make and much more affordable. To make a cleaner for your wood floor, mix ½ cup of white vinegar with ½ cup of vegetable oil. This will make your floors shine as beautifully as any commercial cleaner. To clean your linoleum or tile floors, mix 1 tablespoon of liquid soap, ¼ cup of baking soda, 2 gallons of water and ¼ cup white vinegar.

Home-Made Car Cleaning Products – You can save money by cleaning your car yourself using these environmentally friendly recipes. To wash the exterior of the car, all you need is a bucket of water and some liquid castile soap. Add a few drops of soap to the water and wash.

For an environmentally safe chrome cleaner, mix equal parts of white vinegar and water. Spray the solution on your wheels and rub with a sponge or cleaning rag. You can make a carpet and upholstery stain remover with white vinegar and baking soda. Make a paste with the vinegar and soda. Work the paste into any stains with a small scrub brush. Let the paste dry then vacuum. Any stains should be gone.

Now you can keep the environment clean while cleaning your home and car. Using the above recipes will also keep your cleaning costs down.

* 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!

#1 Roasted chicken. A whole chicken is incredibly inexpensive and it’s also much healthier than a burger or ribs. You can find whole roasted chickens already cooked at your market or you can cook it at home and take it to your picnic to eat warm or cold.

#2 Fill your basket with fruits and veggies. When you buy foods that are in season they’re much less expensive. Summer is a great time for finding tasty fruits and veggies in season. This means you don’t have to spend an arm and a leg filling your picnic basket. And because fruits and veggies are rich in fiber, you’ll fill up quickly. For even more savings, visit your local farmer’s market to buy your fruits and vegetables.

#3 Tuna, chicken or egg salad. Tuna salad, egg salad and chicken salad are all delicious and they’re inexpensive. And if you use light mayonnaise or yogurt as your dressing base, they’re healthy too. Add carrots, celery and other chopped veggies for a good crunch and more nutrition.

#4 Beverages. Skip soda and beer; it’s expensive and not so healthy. Instead bring water, tea or lemonade to drink. If it’s just not a picnic without beer, limit yourself to one and consider light beer for fewer calories.

#5 Make kebabs. Kebabs are great on the grill and they’re easy to make. Chop chicken, beef or lamb into cubes. Cut vegetables like peppers, tomatoes, onions, and squash into cubes. Skewer, marinate in an Italian dressing for an hour and then pop on the grill. They’re healthy and fairly inexpensive to make.

#7 Have fruit for dessert. If fresh fruit just isn’t enough dessert, consider making fruit popsicles.

Here’s a great recipe to try:

2 c. plain yogurt
1 c. bananas, strawberries, blueberries, etc.
1/2 c. orange or apple juice
Blend all ingredients together and pour into small paper cups or popsicle molds. If you’re using paper cups you’ll need to insert popsicle sticks. Place in freezer, remove when frozen and enjoy!  

There are many ways to make summertime picnics fun, inexpensive and healthy too. Step outside of the traditional foods like ribs, burgers, brownies and chips and embrace a healthier and more frugal lifestyle. Enjoy!

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!

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