Quote of the Day
You have brains in your head. You have feet in your shoes. You can steer yourself, any direction you choose.
~Dr. Seuss
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Office chaos
The Frugal Bugle office is in a state of chaos. We discovered 1796 pine planking under the ugly carpeting and plywood and have the entire office torn apart. Once we sand and finish, I’ll be back.
Happy New Year!
From the folks at the Frugal Bugle, we wish you the best year ever and we hope we can help you achieve your goals.
How to make money with an income property
Lately we’ve become mesmerized with the show “Income Property” on HGTV here in Canada. The host, Scott McGillivray, shows homeowners how to effectively build an apartment in their home to generate income in order to lower the mortgage payment.
It’s a brilliantly done program and he shows the “house poor” owners how they can maximize the space to earn the most income. He stages the apartment to get a higher rental income. Some of his tips include making sure the cost of renovations pay back in two years, budgeting enough money and considering the options. He believes that your number one priority should be making your home into an income source to offset the mortgage expense.
Perhaps you are not handy. There are free seminars at Home Depot on laying tile, installing drywall and plumbing. I’ve noticed that local community colleges have handyman courses for even the person who can’t tell a Robertson from a Phillips screwdriver.
In talking to a real estate agent who always had a basement apartment in any house he owned, he stressed to me that he would have a really good lease agreement done up (he used one from Staples) and screened them carefully. He tended to charge slightly less than the going market price so that his tenants would never leave.
How to negotiate with the IRS
Early this year, we had a US tax bill. Yes, we are Canadians but that is another story. Unfortunately, the filing had been done late and the US government added on a hefty amount in interest and penalties.
Moral #1: Always file and pay your taxes on time.
With the payment, I decided to send along a letter requesting some leniency on the interest and penalties. I cited the recent economic situation and, hey, cut us some slack. Not those words exactly but you get the idea. I even neatly hand wrote it so that they would think I didn’t even have the money for a printer.
Months pass. Naturally the cheque is cashed but no word from the IRS. And so, two days ago, the IRS sent us a cheque (actually it would have been a check because it was from the US) reimbursing us for the interest and penalties and they even tacked on $17 for the interest they earned in the meantime.
Moral #2: It never hurts to ask.
Darn - your mother was right
My mother could make possessions last forever. She would routinely clean and service everything in the house. Windows were removed and scrubbed twice a year. Appliances were checked regularly. The car was kept up according to the manual. We had the same vacuum cleaner for 20 years. I think she had one of those old-fashioned bonnet hair dryers that lasted for decades. Everything was had a place and was put away properly.
If you fix those loose stitches in your comforter, clean it regularly and air it out, you’ll have it a long time. Proper car maintenance - undercoating in cold winter climates, regular oil changes and checking fluids and replacing worn bits - can make your car last longer than the payments. You meet many old ladies with the same sewing machine they had when they were young.
But, you say, my stuff just falls apart. When you make a purchase, look at how it’s made and whether it’s built to last. I have bought furniture on Craigslist that you could run a truck over. You don’t have to spend a fortune. Glued sawdust furniture just isn’t going to last.
Some of Frugal-Bugle’s most popular
I thought I would recap some of the most popular posts for the last 14 months.
Learn to catch an invisible ball in a paper bag. An easy, impressive trick to play with your kids.
An Invisible Ball and a Paper Bag
Struggling to lose those last few pounds? It’s free.
An Easy Way to Lose Weight
Make a low-cost, healthy dinner.
Pizza Dinner
Surprising and easy way to stay young for free.
How to Stay Young (and it doesn’t cost anything)
These cookies sold out first at every school bake sale.
Winning Bake Sale Recipe
An inexpensive, useful and easy-to-make gift.
Microwave Corn Bags
My felines are philosophers, I have discovered.
Things My Cats Have Taught Me About Life
Here’s a device you might remember.
Heating Up Your Bed
We eat these all winter.
What Food is Nutrition-Packed for Pennies?
Ten Frugal Things to do in Niagara Falls
Well, I live here so I thought I’d give the place a plug.
Someone should fill in that rut so we don’t end up in it
Sometimes we get into a rut in our financial thinking. If you change, it means you were doing something wrong, right? You really don’t want anyone saying, “I told you so.”
Wisebread has done a marvelous listing of the top 100 Personal Financial Blogs. If you look on the right-hand side of this chart, you can view the latest article from that blogger. Some of the articles are a little dry but you can just skip past those ones. Get inspired.
Things that cost a lot in the long run
For decades, I wouldn’t buy a car with power windows. I couldn’t afford to fix them if they broke. I just considered it was an added expense that I wasn’t going to pay. When you buy a car, consider the cost of gasoline, repairs/maintenance, licensing, insurance and financing. When you break it down to a daily amount, it can be startling.
I had a friend who received an old fridge from a neighbour. One of those energy-sucking behemoths.
According to Michael Blue Jay, she could save about $150/year replacing her old fridge with a new Energy Star rated one.
When you buy something, consider how much the beast is going to cost you just to sit there and maintain it.
This applies to appliances, vehicles and possibly ex-wives.
Recession proof your business
There was an interesting article in the Toronto Star a week ago on how businesses are surviving in these tough economic times. If the link gets broken (and often newspaper links tend to die), some of the points covered were exceptional customer service, a sense for what sells, hiring people who know what they are doing, having an Internet community through a blog or Facebook or Twitter, being in control of the business, understanding the business you are in and doing what you know best.
Here at the campground, we offer a fun, friendly and clean space. Lots of bang for your buck. I think that is the key.
Make yourself indispensable. In my post, Fear Mongers Keep Us in Recession, I said, “As a business, keep your image looking sharp (clean your office, dress well and tidy up). Be friendly, answer communication (phone calls, faxes and emails) promptly and give great service.
If you are an employee, be on time, work hard and do your job exceptionally well. Dress a notch higher and promote your company at every opportunity.”
