The Super Bowl is just around the corner and if your house is about be invaded by party-goers, you might be worried about what hosting a huge party is going to cost you.

Potlucks and BYOB are always a good way to host a party on the cheap, but if you want to keep the burden off of your guests, here are a few way to keep the costs down on the food, decor and entertainment.

1. Food

A Super Bowl party is one event where you can get away with serving cheap food. Fact of the matter is, most people aren’t looking for prime rib. They want salty chips and cold beer.

Here are a few things that are easy to make and cost less than $5 each:

Deviled Eggs – Less than $3,00

Bag of Chips & Salsa – $4.00-$5.00

Vegetarian Chili – Around $5.00 for 8 servings (Add another $3.00 if you want the ground beef)

Carryout Pizza – $5.00 for a Large 1-Topping at places like Little Caesars & Hungry Howies

2. Decor

The elaborate, Martha Stewart-like decorations that adorn some football parties are fun, but truth be told, most folks won’t miss them. Save a few bucks and skip out on all of the team decor and football shaped piñatas.

If you’re insistent on decorating, a couple rolls of streamers in your favorite team’s color can go a long way to transforming a room. And if you’re feeling REALLY creative, decorating the party food can be a fun, cheap way to add some life to your party. Check out this massive football stadium we found made out of Doritos, Twinkies  and Guacamole. LOL! It’s brought to you by the fine folks over at HolyTaco.com and here are the step-by-step directions if you want to make your own.

Photo by HolyTaco.com

3. Entertainment

Once the game starts, all eyes will be on the TV, but try adding a little bit of entertainment to keep your guests engaged and socializing. Here are a couple of ideas…

• Start a friendly pool on which team will win how large the spread will be. I recommend setting a house maximum of $20 a person so that it doesn’t get out of control.
• Have all your guests guess how many beer commercials will air during the Super Bowl and send the winner home with a bottle of liquor.
• The folks over at HolidayCentral.com suggest putting together Superbowl Commercial Bingo. They advise you to “create or purchase 5 x 5 bingo cards. Each card must be unique for each player. Play the game like traditional bingo, but the squares on the bingo card will be based on things you will see in commercials during the Super Bowl. Some suggestions include:  Pizza Delivery Guy, Kick to the Groin, Soda Commercial, Talking Babies, Movie Trailer, GPS Commercial, or CarInsurance Commercial.  Any five squares in a row represent a Bingo win.”

Have fun everyone!!

*Superbowl party photo by jasonlam on flickr*

Many parents seek to adopt children for a variety of reasons.  Perhaps they are unable to have children of their own, or they already have biological children but cannot or do not want to have more or they simply want to expand their family and take care of a child in need.

While people enter the adoption path for a variety of reasons, most of them struggle to afford the high cost of adoption, which can cost upwards of $20,000.

If you are looking to adopt, here are some ways to raise the money to do so:

1. Use your skills to generate extra income.  There are many women who excel at a craft and sell their products on sites such as Etsy.  With the extra money that they make, they partially help fund their adoption account.  Likewise, both spouses could look into working additional hours or a side job to raise money to fund the adoption.
2. Slash your budget.  If you have any extras in your budget such as cable, a gym membership, dining out money and others, consider temporarily foregoing the luxuries and instead putting the money in an adoption fund.  When you receive tax money or other extra money, put it in your adoption fund.
3. Create an adoption website.  A woman I know who was adopting as a single parent created a website documenting her journey through the adoption process.  She also had a button where people could anonymously contribute to her adoption fund.  Friends told friends about the blog, and she raised quite a bit of money this way.
4. See if your employer offers assistance.  Many employers are now beginning to offer adoption assistance, sometimes offering as much as $4,000.  Check with your Human Resources department to see if this is a benefit your employer offers.
5. Apply for an adoption grant.  Obviously, these are very competitive, but organizations such as showhope.org offer grants to partially fund the adoption process.  People can apply after the home study visit.  All applicants at showhope.org are also eligible to take part in the Shirts of Hope program, which does not require any upfront costs and allows you to make a commission on t-shirts you sell to help fund your adoption.
6. See if your church offers assistance.  Some churches are willing to work with parishioners to help find ways to raise the money for adoption or to assist with fundraisers.  Check with your minister to see if your church can offer any support.
7. Borrow money.  Paying for your adoption without debt is ideal, but there are ways to finance it.  Although not recommended, some people have taken cash advances from their credit cards, borrowed from their retirement and taken out second mortgages.  However, remember that after you complete the adoption, you will have plenty of expenses associated with the baby, so it is best not to go into debt for the adoption.

Adoption is a process that helps unite children in need of loving homes with parents who want to raise them.  Whether you adopt domestically or internationally, the adoption process can cost thousands of dollars.

While you can borrow the funds for adoption, raising the money upfront yourself through slashing your budget, bringing in more income and pursuing grants and fund raising is preferred.  While it may take a bit longer to adopt if you raise the money upfront, doing so is possible, and you will be thankful that you did so when you are holding your new baby and don’t have to worry about how to pay off debt.

*Photo by mlaaker*

I call it pre-coffee ergophobia. It’s that 30 minute window between the time the coffee begins brewing until the time when the coffee has fully stimulated all of the neurons in your brain. During that time, you’re awake but still fearful of doing any type of work which might require brainpower.

It’s also the time that I find myself completely unable to fight off the calling of early morning infomercials.

Now mind you, I’ve never actually bought anything off of the TV, but I seriously think I’ve seen all of them. The Showtime Rotisserie. OxiClean. The NuWave Oven. And of course, my favorite, the ridiculous “No Money Down” real estate products. If you haven’t seen it or already wasted $360 buying it, allow me to spill the beans.

Here are a few of the ways they suggest getting a “no money down” mortgage…

“Buy to Let” Mortgage

These types of mortgages were very popular before the financial crisis, but they are a bit harder to get now. These loans are for rental properties and in order to qualify for the loan you have to use your future rental income as your collateral. It’s a bit easier to qualify if you can present a business plan and applications from prospective applicants.

However if you’re using a buy to let mortgage calculator, you’ll probably notice that your are going to be required to buy PMI insurance with this type of loan. That’s because loans issued with less than 20% down are usually required to buy this costly insurance which may reduce or eliminate your profit potential.

VA Loan

If you’re a veteran, active duty personnel, national guard/reserve or a surviving spouse, you’re probably eligible for a no-money down VA loan. Another huge advantage of VA loans are the exceptionally low rates (The mortgage interest calculator show the rate at 4.08% this month).

However, in order to qualify for a VA loan, you have to guarantee that you will personally live in the domicile within 60 days of the close. That all but eliminates your ability to rent out the property, unless you buy a home and rent out one of the rooms inside.

Collateral

A little obvious, but if you have another high-value item in your name, the bank may accept it as collateral.

A lot of the programs suggest leveraging your personal home or another rental property in order to qualify for a “no money” down loan. But, who hear has enough equity left in their home to leverage it? Anybody? Cricket…Cricket…

USDA Loan

The Department of Agriculture’s has a program for guaranteeing loans for “rural development.” However, the definition of “rural” is very loosely defined term. Take a look at the USDA’s website to see a map of eligible areas. Unless your looking to build downtown, you’ll probably qualify, although there are restrictions on household income and usually need to be a first-time homebuyer.

Another advantage of a USDA mortgage comes from a bank, is that you aren’t required to buy mortgage insurance. Instead, the USDA levies a 2 percent guarantee fee, which can be rolled into the loan amount.

So, fess up. Anybody else have an infomercial addiction? And, do you think “No Money Down” loans are a good idea?

*Photo by InAweofGod’sCreation*

One common New Year’s resolution is to lose weight and eat healthier.  Yet, with the high price of groceries now, many believe that buying healthy food is not possible without spending a small fortune.

Buying foods like potato chips, soda, and frozen processed foods on sale may seem to be the only way to keep down grocery costs.  However, buying healthy foods on a budget is possible, if you are conscious of what foods you choose.  Try these tips:

1.  Eat in season.  In January, grapes can run $2 to $4 per pound.  While our family loves grapes, we don’t eat them now.  We buy them in the summer when they are cheaper.  Good fruits to eat now include all citrus as well as bananas and apples.
2. Look for cheap sources of protein.  A one pound bag of beans can cost as little as $1.00 to $1.50.  Beans are an excellent source of protein and complex carbohydrates and are a nutritious food to eat.  Try to have at least two bean based meals a week to cut costs and improve your health.  Some meals to try include bean burritos, bean based chili, and baked beans, to name a few.  Another cheap source of protein is eggs.  You don’t have to limit eggs to breakfast only; consider making vegetable quiches, omelets, and soufflés for dinner.  At 10 to 15 cents per egg, eggs are an excellent source of low cost protein.
3. Use meat as a condiment.  Americans consume too much red meat.  Overconsumption can have a detrimental effect on both your health and your wallet.  Instead, save the red meat as a condiment.  If you are having chili, just add enough meat to give it flavor, maybe ½ pound, and instead get the protein from beans.  Rather than steak for everyone at dinner time, just buy one and slice it for stir fry loaded with veggies.
4. Consider frozen vegetables.  On sale, frozen vegetables can be had for as little as $1 per pound.  Even better, you can stock up and keep them in the freezer for up to a year.  Buy enough bags of vegetables to last you until they are on sale again, usually in 8 to 12 weeks.
5. Grow your own.  In the spring, if you have the space, consider growing your own vegetable garden.  For the cost of a few seeds and your time, you can pick vegetables right from your own back yard.  There is no need to pay for expensive organic vegetables as you are growing them yourself.
6. Eat classic breakfasts.  Boxed cereal can be very expensive.  If you are a savvy shopper and manage to snag it on sale with a coupon, the price may be more reasonable, but most cereals have additional additives and sweeteners that aren’t good for your body.  Instead, buy oatmeal or make homemade whole wheat waffles and serve with fruit.

While it may seem that it is cheaper to eat pre-packaged food, eating fresh food that you prepare at home is better for both your body and your wallet.  Take advantage of sales and these tips to get the best bargains on healthy food.

You will be surprised how much better you feel and how much money you save.

*Photo by Moon Stars and Paper*

Signing up for a mission trip is a wonderful way to share your faith and give back to those who are less fortunate.

Unfortunately, as you start to consider the costs of a plane ticket abroad, passport/visa fees, and living expenses, you may find that the costs are rather expensive.

Here are a few ways you can use to help pay for your mission trip…

1. Fund-raise from local businesses

Try sending out letters from your parish to local businesses asking them to donate to your church’s mission. Remind the business owner that the donation is tax deductible – something that might be most appealing at the end of the year when businesses begin to think about their upcoming tax liability.

It can also be good idea to put together a small portfolio of what you hope to accomplish on your trip. Will you be building infrastructure? Will you be teaching school children? Have you been on a trip like this before? How did it go? Businesses are a lot more likely to donate to efforts when they can visualize the impact they’ll be having.

If a business is not able to donate cash to your trip, see if they can donate supplies. Or, see if they will let you put a change bucket by the cash register so that customers may donate to your efforts.

2. Ask your pastor about a mission fund

A lot of churches have a mission fund that is used to finance trips abroad. In some churches the fund can be used to pay for your entire trip, while others require that you donate a certain amount to the fund every month for a year and then they church will pay for the rest of your trip.

If you are using your church’s mission fund, please be aware that that fund is financed by fellow churchgoers. They’re obviously supportive of your efforts, but be sure to share the results of your mission upon your return. Bringing pictures, letters, and personal updates will make them more likely to support the fund in the future.

3. Save up

It’s likely that you’ll have to contribute some of the funds to finance your trip. Remember that your service is not only about helping others, it’s about self-sacrifice. Try giving up cable television for the year and adding the savings to your mission fund. You might be able to save up to $1200 over the course of a year.

Another idea is to try packing your lunch two or three days a week instead of buying lunch at work. You could easily save $15-$20 a week which adds up to more than a $1,000 over the course of a year!

4. Take out a loan

It might be the least desirable scenario out of the four, but in some situations in might be necessary to take out a loan. They are several banks that offer financing for trips like this although they may be packaged under the label “vacation loans” or “personal loans.”

Many banks will require that you have collateral or high credit rating in order to take out a personal loan, however check with your local bank to see if they offer loans with no credit. If you already a loyal account holder and you mention that the funds are being used for a mission, they might be able to make an exception.

*Photo by KidMoxie*

I received the following email the other day. Here is the email below and my reply. What other stories / advice can you offer this reader. I asked her to check back here for more info from this great community!

I am currently taking the Dave Ramsey Financial Peace University class that is being offered by FREE by my employer. At first I was excited but now it seems I have just fallen off. Since I have been taking the class I gotten a tax refund and money from a car accident.  I didn’t do the things I was suppose to,  not even start the $1000 emergency fund.  However, I did pay off a few bills.

I feel that I just wasted the money.   Let me add that I didn’t go out and splurge on things like new cars and flatscreen TVs.  I didn’t by anything come to think of it, but we did eat out more than we usually do but surely all of the money didn’t go to eating out. I was also going to ask what do you think of this.

My husband hurt his back and has been out of work for a year. My job alone can’t pay our normal household bills not to mention excess bills. I just got a part time job and if I take my entire check from my full time job it can pay all the bills and the part time we can use or gas, food, etc. What do you think?

- Sandra

My reply:

First I’d like to thank Sandra for reaching out and allowing me to publish her question and my response.  There are other readers who may have a similar situation and hopefully the responses from the community will be a benefit to others!

I see 3 issues and I’ll attempt to address each of them:

1. Financial Peace University ~ Don’t beat yourself up for not completing this.  I am a HUGE advocate of FPU and while it is a proven way to financial stability it is not the only way.  Dave Ramsey says that when it comes to finances it is 80% behavior and 20% head knowledge.  Ask yourself “why” you didn’t complete this task and address that.

2. It’s good that you paid off a few bills.  However you probably feel you’ve wasted it because you can’t account for a good chunk of it.  You’d be surprised how fast money flies when you are eating out.  Whatever your plan of attack, YOU NEED AN EMERGENCY FUND. I can’t stress the importance of this enough.  If $1,000 is out of reach right now, set a goal of $500.  Practice saving!

3.  I’m sorry to hear about your husband’s back injury.  It can be a drastic change to go from 2 incomes to 1.  I think your part-time job solution is a decent short term solution, but you need to think long term.  You need to immediately increase your cash flow.  A part-time job will do that, but how long do you think you can sustain 60 hr work weeks?  Are there expenses you can cut / decrease?  Cable?  Cell phone plans?  Insurance premiums?

Hope this helps!

Readers, it’s your turn!  What advice can you offer Sandra?  Leave your responses in the comments!

Every once in a while I like to do a financial check-up to make sure I’m getting the best deal possible.  Sometimes, what was a good deal in the past is no longer a good deal.  As old habits die and new habits emerge it’s important to make sure you’re not paying for something you no longer need.

The Background:
Many readers may remember how I saved over $70/month by cutting the cable completely off.  That season lasted for 8 months and I was able to save money to put towards other things, including beefing up the emergency fund.

However, since then, I have bought a house, gotten married and turned the cable back on.  When choosing a service provider,  the cable bundle beat out satellite dish / DSL combos.  Also, I was going to install a land line phone, something I didn’t need in my apartment, solely to keep the alarm system activated.

Fast Forward 7 months….

I have a cable 3-in-1 bundle with a home phone that I rarely use.  But, I keep it around because I assume I need it for the security system to work.

There has to be a better way….the call….

I decide to call the security company to see if there is a way to keep the service without a land line phone.  It turns out, they can install a cellular \ wireless box with a one time installation fee of $250 and an additional $12/month.

Since my phone bill is $30, eventually this would pay for itself.  But it gets better….

I ask if they have any upcoming promotions with a lower priced installation fee.  The salesman tells me no.  I then ask if they offer military discounts.  Again, I am told no, but they do offer discounts for AARP and USAA members.  HEY, I’M A USAA MEMBER!

As a USAA member my installation fee is $230 plus $10/month.  Cha Ching!

Next, I ask him to help me get a Certificate of Installation, so I can get my insurance discount.  (Sidebar – This is something I should have done about 7 months ago!)

I was guided through how to print that from the website and immediately sent it to my home insurance representative.

Let’s Tally the Savings!

Phone bill ($30) – Cellular Backup ($10) = $20 saved / month
USAA discount = $2/month
Home Insurance discount = $5/month

Total savings ($27) * 12 months = $324/year

Not bad for a 5 minute phone call that is going to result in recurring savings.  Since I have to front the $230 for installation, I won’t start truly saving until around month 7.  But there will be an immediate extra $27/month that can be applied to building savings or paying off debts.

What about you? Do you have services or subscriptions you rarely or never use?  What would you do with an extra $324 / year?  Are these check-ups worth it?

Guest post from Bailey Harris. Bailey writes about insurance and other topics for Homeownersinsurance.org.

Buying an insurance policy can be tricky. Every company offers different levels of coverage for different prices. You should look your policy over carefully on a regular basis to make sure there aren’t any gaps in your coverage. The following guidelines will help you review your policy and make decisions about your coverage levels.

Dwelling
The term “dwelling” refers to your house. But this portion of your insurance policy also covers attached structures and fixtures in the house, such as built-in appliances, heating and cooling systems, plumbing systems, and electrical wiring. Your dwelling should be insured for the amount it would cost to rebuild. Although experts used to recommend purchasing enough insurance to cover 80 percent of replacement costs, you are much further ahead getting a policy that offers 100 percent replacement value coverage. This ensures that you don’t have to cut corners if you’re forced to rebuild.

Other Structures
If you own a garage, shed, barn, gazebo, fence, patio, or another type of structure that is not attached to your dwelling, it will fall under the heading of “other structures”. As with your dwelling, you will want to make sure that you have enough insurance to cover 100 percent of the costs required to rebuild.

Personal Property
Personal property insurance provides coverage for the non-structural items in your home and on your property. There are two types of personal property insurance: cash value and replacement value. Cash value coverage will pay you the value of the property at the time of loss. You will not receive the amount paid for the possessions or the amount needed to replace them. Replacement value coverage pays the actual cost of replacing your possessions. Cash value coverage is cheaper, but replacement value coverage is the better deal.

Loss of Use
Not everyone has loss of use coverage, but it is worth including in your policy. This type of coverage will pay for your living expenses if you are forced to temporarily live somewhere else because of a fire or some other disaster. You may also be reimbursed for restaurant bills, commuting costs, and other fees associated with living somewhere other than your home.

Liability Protection
Personal liability coverage protects you against a claim or lawsuit that might be filed because someone was injured on your property. This type of insurance may also cover damage to other people’s property. In addition to general liability coverage, you can also purchase medical payment coverage that will pay the medical expenses of people (not you or your family) that have been injured on your property. Liability levels can vary. You should speak with your insurance agent if you need help assessing your risk.

Additional Coverage
The average home insurance policy does not cover flood or earthquake damage. You will need to purchase separate policies to get this coverage. You can buy both flood insurance and earthquake insurance from private companies. Flood insurance is also available from the Federal Emergency Management Agency. Coverage can be expensive but should be purchased if you live in a high risk area.

Hopefully, you’ll never have to file for unemployment.  But, if you find yourself looking at a pink slip, reduction in force letter or other job termination notification you’ll need to know how to claim your benefits.

1.       Realize that unemployment is an entitlement, not a charity.  Many people put off applying for unemployment because they view it as some sort of government handout.  Unemployment is actually an insurance paid by employers to help with the financial instability that often accompanies job loss.  It is there for you to take advantage of when necessary.

2.       Determine if you are eligible and file your claim as soon as possible. From the department of labor:

You must meet the State requirements for wages earned or time worked during an established period of time referred to as a “base period”. (In most States, this is usually the first four out of the last five completed calendar quarters prior to the time that your claim is filed.)

You must be determined to be unemployed through no fault of your own (determined under State law), and meet other eligibility requirements of State law.

Contacts for Unemployment by State >>>

3.       If you live near a state border, it is possible to live in one state and work in another.  Typically, you file the claim in the state you worked.

4.       Pay attention to the criteria to file claims!  Typically you have to file weekly or bi-weekly.  Forget to file and you won’t be receiving a check.  Most states allow you to file in person, online or by phone, so set a reminder and don’t forget to file by the deadline.

5.       While collecting unemployment, you are required to actively search for employment.  Keep your records because you may be required to provide proof of your efforts.

6.       Disclose any income you earn while unemployed.

7.       Your unemployment income is taxable.  Be prepared to report this during tax season.  From the IRS:

Unemployment compensation is includible in gross income. You must report unemployment compensation on line 19 of Form 1040, line 13 of Form 1040A, or line 3 of Form 1040EZ.

8.  There is a time limit on how long you can collect unemployment.  Typically 26 weeks, but may be as long as a year.  Know that the clock is ticking.  Be proactive in your job search!

Hopefully, you have an emergency fund to help during the unemployment phase.  Keep a positive cash flow by decreasing your spending.  Minimize eating out, consider programs like Angel Food, cut the cable.  Do what you have to do to keep your head above water.

What about you?  Have you ever been unemployed?  Do you have any other advice or stories to share?

This is a guest post from Michael Trinkle, Forex Investments Have you ever thought about how much money you will make in the course of your lifetime?  Not how much money you will be worth, but how much money you will make actually make in lifetime career earnings.  Let’s break down a real-life example. Let’s assume you enter the work force at age 25 and secure a job that pays only $30,000 per year.  If you were to retire at age 60, and you were able to earn only a 3% raise each year (which is standard in all industries), your lifetime earnings would be $1.8 million!  Most people who have a college degree will earn much more than this during the span of their lifetime.  The truth is that most college graduates will earn well over $3 million in their lifetime.  And yet, so few actually become millionaires.  In this article, we will discuss first of all what a millionaire is, second of all why most people never become millionaires, and third of all how you can become one. A millionaire is a person who has amassed a personal net worth of $1 million.  Net worth is determined by taking your assets minus your liabilities.

The chart above is a brief list of common assets and liabilities.  Basically, unless a person comes from a family with substantial money, most people enter the work force with a negative net worth.  That is how the American economic system unfortunately operates.  Most new workers in the workforce have college debt, credit card debt, and possibly a car loan.  Most people work their entire lives trying to continually finance liabilities instead of purchasing and developing assets.  Thus, your first step in becoming a millionaire should be to eliminate your liabilities. Most people never become millionaires because as they progress through life and begin earning more money, they likewise increase their spending habits.  Thus, many people never make significant headway in developing a substantial net worth.  Instead, as their earning power rises, so too does their debt level.  The cars get nicer, the vacations get nicer, and the house gets nicer.  Unfortunately, they finance most of these purchases with debt, and, therefore, continue in the trap of having liabilities constantly controlling their finances. So we have discussed briefly why most people never become millionaires.  It’s not that they do not make enough money because, in fact, most Americans with college degrees and decent jobs will earn enough money to become millionaires.  The problem is in the management of the money that is made.  Now let’s discuss the practical steps a person needs to take in order to properly manage career earnings. First of all, liabilities must be eliminated.  Many people want to get into investments because of the exciting possibilities of earnings lots of money by doing nothing but investing it in the right place.  That, however, is a major mistake.  Instead of focusing on investments, a person needs to first focus on eliminating liabilities, especially bad debts such as credit card and other high interest debts.  The reason is simple.  If you can eliminate your liabilities, you can then direct that extra cash flow each month into purchasing assets that will pay you money.  But if you don’t take care of the liabilities, they will continue to financially suck you dry over time. There is one step you should take even before you begin to eliminate liabilities, though, and that is building an emergency savings account.  Most personal finance professionals agree that it is essential that you have an emergency savings account of at least $1,000.  This should serve to cover payment of any unexpected daily expenses that arise such as car repairs, doctor visits, etc.  Many people get fooled into financing these unexpected expenses with a credit card, and that is a major mistake.  By building an emergency savings fund of at least $1,000 you should be able to finance these unexpected expenses without having to tap your credit card.  This helps end the debt cycle and set you on the path toward building a substantial net worth. Once you have the initial $1,000 emergency fund in place, then begin paying down as much debt as possible.  Consider cutting back on discretionary spending such as meals out, extra clothes, etc, and, instead, funnel that extra money into paying off debt. Finally, after you have paid off your debts, which can usually be done in a surprisingly short amount of time, then you are able to begin purchasing assets such as forex investments and investing in BullionVault.com.  Over time as you build your portfolio of assets, your net worth will continue to grow and increase, and that is a great feeling!!  The best thing to do is sit down with a financial professional and sketch out a plan for how you plan to tackle each stage of becoming financially independent.