Unless you’ve just moved into a brand new house, home improvement is a never-ending job. When one project is complete, we always find something else that needs work. The improvements add value to our homes, but they come with a hefty price tag.

Many homeowners feel that they must have a professional come in for each job. But if you’re willing to roll up your sleeves and get your hands dirty, you can make many improvements on your own. And since you won’t have to pay for labor, you could save hundreds to thousands of dollars on each project.

Here are some common home improvements that we can often do ourselves.

1. Painting – You don’t have to be an artist to paint the inside or outside of a house. With the right materials, just about anyone can do it. If you have no idea where to start, enlist the help of a friend or family member who has painted his own home. And if you’re really apprehensive, start with one wall to prove to yourself that you can do it.

2. Wallpapering – Wallpapering isn’t as simple as pasting paper onto the wall, but it’s not terribly difficult, either. You’ll need to prepare the wall, do some measuring and cutting and carefully paste it on so that is even and free of bubbles. It takes some time and patience, but the end result is well worth it.

3. Air conditioning – Installing an air conditioner is easy enough that most homeowners do not need outside assistance. If you buy the right size, it will fit right into an existing window. All you’ll need to do is install some brackets, slide the unit in, make sure that it can drain to the outside of your house and caulk around it.

4. Flooring – There are many types of flooring available, and some are easier to install than others. Stick-on tile is cheap and can give a room a new look in no time, but it’s not very durable. Other types of tile are more durable but take longer to install. Carpeting and hardwood flooring are a bit more complicated. Laminate is a popular choice, because it offers the look of hardwood but is easier to install and care for.

5. Insulation – A properly insulated home offers greater energy efficiency. While insulation of exterior walls is best left to a qualified contractor, homeowners can often successfully insulate attics and crawl spaces on their own. DIY books and websites offer advice on how to properly install insulation.

6. Water heaters – If your water heater has seen better days, you can probably replace it yourself. With the instruction manual and a few tools, installing a water heater is a cinch. Consider an energy-efficient model and save on your electric bill.

7. Plumbing – Plumbers have to go to school to become certified, but there are some simple plumbing tasks that the average Joe can handle. These include installing faucets, taking drain pipes apart to retrieve lost items, and installing toilet kits.

8. Accents – Small details can make a big difference in your home, and you can usually implement them with little guidance. Try changing your cabinet knobs, adding baseboards or changing your crown molding.

9. Siding – Replacing your home’s siding can give it a whole new look. Vinyl siding is easy to install with the right tools, and it’s very easy to maintain.

10. Decks – Building a deck is no small task. But if you know a little about construction, you can do it on your own. You will, however, need a building permit, and you’ll have to adhere to building codes.

Brought To You By:
Woody Alpern
CPA/PFS
www.yourwealth.com
woody@yourwealth.com

Paying bills is something that no one looks forward to doing. It’s one of those things we just want to get out of the way. So we often look at how much is owed, write a check or pay online, and forget about it. But when it comes to credit card bills, that’s not such a good strategy.

Credit card statements detail each and every charge we’ve made since the last statement. That doesn’t make for a very exciting read, but it is an important one. If you don’t carefully go over the charges on your bill, you could end up paying more than you actually owe.

Here are some of the things to look for on your statements:

* Watch for charges that you didn’t authorize. If your card is not with you at all times, someone could have used it without your permission. And even if you haven’t lost your card, someone could have fraudulently obtained and used your card number.

* Compare each charge with the corresponding receipt. Mistakes happen, and you could have been charged an incorrect amount.

* Look for double charges. Equipment malfunctions or cashier errors can cause a charge to go through twice. Unscrupulous employees or companies may also make duplicate charges on purpose.

* Review charges imposed by the creditor, such as interest, fees and credit insurance. If you see anything suspicious, check the cardholder agreement to make sure the charge is legitimate.

If You Find a Mistake

When you find an error on your credit card statement, it’s important to report it quickly. If it’s the result of fraud, notifying the creditor can prevent further misuse. And in any case, cardholders must act within a reasonable amount of time in order to be protected by law.

The Fair Credit Billing Act (FCBA) states that cardholders must report billing errors in writing within 60 days from the date the first statement containing said error was mailed. If they do so, the creditor must either correct the mistake or prove that the charge is legitimate within two billing cycles. If the charges were not authorized by the cardholder, he may be held liable for no more than the first $50.

A phone call to your creditor can be helpful if you have questions about a particular charge. And in the case of unauthorized charges, a customer service representative can tell you if other charges have been made since the statement was prepared. But if there is an error, notifying the card issuer in writing is a must. Otherwise, you may have no legal recourse if they refuse to make a correction.

Checking your credit card bill doesn’t take long. If you keep your receipts organized, you can verify the charges in just a few minutes. And those few minutes could potentially save you a great deal of money.

Brought To You By:
Woody Alpern
CPA/PFS
www.yourwealth.com
woody@yourwealth.com

Not too long ago, cell phones were a luxury reserved for the rich and famous. Today, they’re everywhere. Many users consider them necessities, and they seem to go through withdrawal if they forget them at home or lose their signal.

Anyone can survive without a cell phone. But they are very handy to have. They give us a way to communicate with friends and family from virtually anywhere, and to call for help in the event of an emergency. Those bills can add up in a hurry, though.

With all the different plans available, you might be surprised at how many cell phone users are paying more than they should. Are you one of them? Here are some ways you can talk for less.

* Avoid buying too much phone for your needs. If you won’t be browsing the Web, why pay extra for a phone with such capabilities? Compare the available phones and find one that has the features you will use and not a lot of extra ones.

* Re-evaluate your service plan from time to time. If you find that you’re not using nearly all of your minutes, see about switching to a cheaper plan. If there are several phones in your household, a family plan will probably be the best deal. If you don’t use your phone very much, a prepaid plan could save you money.

* Keep an eye on your texting habits. Are you sending lots of texts each month? An unlimited texting plan could save you money. But if you’re doing more texting than talking, consider making calls instead of sending messages. It will probably be less expensive.

* Run the numbers on your insurance plan. Unless your phone is a top-of-the-line model, you might pay enough over the course of your contract to buy a new one. If that’s the case, drop the insurance and save up that money. If something happens to your phone before the contract is up, put it toward a new one. If not, buy something else.

* Use night and weekend minutes to make calls when you just want to talk. Most companies offer unlimited nights and weekends, and if combined with free long distance, you can call and catch up with old friends and far-off family at no additional charge.

* Check each bill for incorrect charges. If you find something, call your provider and dispute it. Even if it’s only a small charge, it could be something that is billed each month.

* Don’t call 411 from your cell phone. You’ll pay even more for it than you would from a landline. There are many free directory assistance options available, such as 1-800-FREE411, that will cost no more than a regular local call.

* Take advantage of in-network calling. Some providers offer free calls among their cellular customers, or let customers choose some numbers that they can call for free. Calls to these numbers will not use up your package minutes.

* Watch out for roaming charges. Some providers even charge them on nationwide plans if you are in an area away from that provider’s towers. There should be an icon on your phone that lets you know if you are roaming. If you see it, avoid making calls unless it’s an emergency.

Cell phones are one of those modern conveniences that we can’t seem to live without, but they can nickel and dime you to death if you let them. Having the right service plan and being aware of all possible charges can save you lots of money.

Brought To You By:
Woody Alpern
CPA/PFS
www.yourwealth.com
woody@yourwealth.com

When the economy or our personal finances take a turn for the worse, we may have no choice but to cut back on spending. In most budgets, there are many items that can be eliminated completely. But there are some things we need to buy no matter how hard times get.

And even when we’re pinching pennies, we still need to do things we enjoy. Perhaps we even need these things more than we normally would, because they lift our spirits. But hobbies and entertainment can be expensive.

We don’t have to deprive ourselves of all optional purchases when money is tight. Buying items secondhand can save us lots of money. Many consumers make a habit of doing so even during good financial times, because it allows them to have more money left over to save or spend on other things.

You can buy lots of things secondhand. Here are just a few to consider.

* Clothing – Clothing is a necessity. We may be able to get several years’ worth of wear out of clothes as adults, but children outgrow theirs at lightning speed. You can find good secondhand clothes at thrift shops and garage sales.

* Toys – Toys help keep children entertained, and they often have educational value. But kids outgrow them and break them, so they frequently need something new. But as long as a toy is new to your child, it doesn’t really matter if it has been previously loved by another child. Check garage sales and your local classifieds for used toys.

* DVDs, CDs and video games – The latest movies, music and video games are far from cheap, yet they seem to fly off the shelves. But if you’re not concerned about having the newest releases, you can buy used. The pawn shop often has DVDs, CDs and video games at very low prices. Some retail stores also take trade-ins for new media, and then they sell the items that are traded.

* Books – For the avid reader, books are a must-have. The library is a great resource, but sometimes you might want a copy of your own to read again and again. By buying used, you can get them at a fraction of the cover price. Some bookstores specialize in used books, and they may even let you trade in books you no longer want for credit.

* Cars – Having a car is essential in some areas. Even if it’s not, it’s nice to have your own means of transportation. A new car can cost tens of thousands of dollars. But if you buy used, you will pay much less. You can even buy certified used vehicles that have passed a rigorous inspection and come with a warranty.

Buying secondhand can be great fun if you have the right attitude. Finding a great deal on something you saw in a store with an outrageous price tag is very satisfying. And it will help you stretch your shopping dollars much further.

Brought To You By:
Woody Alpern
CPA/PFS
www.yourwealth.com
woody@yourwealth.com

Maybe you’ve carefully crafted a budget that accounts for every penny that comes in each month. Or maybe a budget seems like a waste of time to you. Either way, impulse buying can have a negative effect on your financial picture.

There’s nothing wrong with buying something we want every now and then if we have the money. If you work hard for your money, you should be able to spend some of it on things that make you happy. But when we don’t carefully consider our discretionary spending, we may end up doing too much of it. This can leave us saddled with debt, scrambling to pay bills or skimping on the savings.

There’s a simple rule that can help us avoid impulse spending. Instead of buying something you want as soon as the thought crosses your mind, wait a month before you make your purchase. A month might seem like an eternity when you want or feel that you need something, but unless it’s food, shelter, clothing or water and you don’t have any, it can probably wait that long.

Waiting a month before buying has several advantages:

* Once a month has passed, you can more clearly evaluate whether or not the purchase is wise. When we first see something that appeals to us, it is exciting. We may get the feeling that we need it right then, when in reality it’s something that we may never even use. Waiting a while will give that euphoria time to wear off, and we’ll be able to look at the purchase more realistically.

* You’ll have time to do some research. A month is more than enough time to check prices from a variety of sources. You can also look for alternatives that might better suit your needs. When it’s decision time, you’ll be much better informed.

* The price on the item you’ve got your eye on could go down. Electronics often experience a drop in price a few months after they hit the market. So if you’re interested in a newish gadget, waiting could save you money. This is also true for clothing, so if you see something that you love mid-season, waiting a month could give it time to hit the clearance rack.

In today’s fast-paced society, it’s easy to get in the mindset that we need things right now. This way of thinking leads to impulse spending. By slowing down and giving ourselves time to really think things through, we can avoid spending money on things that we could do without. And if we do find that we really needed the item, we can buy with confidence that we won’t regret the purchase in a week or two.

Brought To You By:
Woody Alpern
CPA/PFS
www.yourwealth.com
woody@yourwealth.com

Do you have things sitting around that you’re not using? Most of us do. There are a few ways we can get rid of these items. We could have a garage sale, but pricing and organizing things takes up a lot of time. We could take it to the landfill, but that’s wasteful if someone else could use it. Or we could freecycle it.

Freecycling is a movement that encourages people to give the items they don’t need to those who can use them. It’s a great way to get rid of clutter, and for the recipient, it’s a great way to save money. But how can those with things to give away connect with people who need them? Through a local Freecycle group!

Freecycle is a non-profit organization that utilizes email groups to facilitate giving. Founded in 2003, Freecycle originally consisted of a few dozen team members who drove around the Tucson, Arizona area trying to find homes for unwanted items. Organizers realized that email would be a much more efficient means, so they set up the first mailing list. The concept spread like wildfire, and today there are Freecycle groups all over the United States and in over 85 other countries.

There are Freecycle groups in most cities, as well as many rural areas. If there is no group in your area, you can apply to start one. All group organizers work as volunteers, with the support of the organization.

How Freecycle Works

In order to use Freecycle, you must join your local group. Links to groups in your area may be found on the official Freecycle website (Freecycle.org). Most groups are run through Yahoo Groups, which makes it easy for any member to post messages to all other members. Some groups allow anyone to join, while others require moderator approval. Just follow the instructions provided to sign up.

Once you’ve joined, you can post offers. This is generally done by sending a message with the word “Offer” in the subject line, followed by the item name and location. Provide any pertinent details, and let members know if you wish to be contacted in any way other than email. Those who are interested can email you through the group. Once the item is given away, the giver is asked to post a message stating that the item has been taken.

Anyone in the group may respond to an offer, but it is up to the giver to decide who gets it. There is no rule stating that items must be given on a first-come, first-serve basis. The only requirement in most groups is that all items be completely free, and that nothing illegal or adult-themed is given away.

Members may also ask for items they need. If another member has the item, he can contact the requester and arrange for pickup or delivery. While there is no requirement to give items away, members are encouraged to both give and receive gifts.
Joining Freecycle provides opportunities to both get rid of our “junk” and receive things we need for free. Membership is also free, so there’s no risk in joining. Go ahead, give it a try!

Brought To You By:
Woody Alpern
CPA/PFS
www.yourwealth.com
woody@yourwealth.com

It feels great to get a raise. It makes us feel like we’re being rewarded for all our hard work. It provides an incentive to keep doing a good job. And most of all, it puts more money in our pockets.

It can be tempting to start spending more money when we get a raise. Just a few extra dollars on each paycheck can make it possible to go out to eat once a week or start building up your wardrobe. But saving that extra money offers more long-lasting benefits, and it is relatively painless.

Think about it. You’ve probably been living on the pay you received prior to your raise for a year or so, and you survived that year. It’s not much of a stretch to be able to survive another year without that extra money. Of course you wouldn’t want to turn it down, but why not put it away to build an emergency fund, a college fund for the kids or a nest egg for your retirement?

And just imagine how much money you could save if you saved your raise every year. If you received the same percentage raise each year, you could put away over twice as much out of each check next year as you did this year. The following year, you could add a little bit more to it than you did the year before. As long as you can live on the same amount of money, you can increase the amount you save each year.

While you’re saving your raises, consider adding your bonuses to your savings as well. It’s tempting to go out and spend like crazy when we get a windfall of money, but it’s smarter to save it. Bonuses are money that we usually do not include in the budget, so we probably won’t miss them.

How to Save Your Raises

There are many ways we can put money into savings. But which is the best vehicle for saving raises and bonuses? That depends on your goals.

When it comes to practicality, you can’t beat investing in a 401K retirement account. 401K deductions from your paycheck are tax-free, and you will never have to pay taxes on that money unless you withdraw it before you reach retirement age. Many employers also match your contributions up to a certain percentage or dollar amount, so you’re essentially getting free money.

When you get a raise, you may be able to increase your contribution by the dollar amount of that raise. Or you might have to raise your contribution by a certain percentage. Your human resources department should be able to help you adjust your contribution to meet your goals.

Investing your raise in a college savings account might be a good idea if you have kids. Or you may choose to invest in stocks, bonds, or other investment vehicles. If you have more than one goal in mind, you might choose to divide your raise up among several savings options. If possible, consider having your contributions deducted from your checking account shortly after you get paid so that you’re not tempted to spend them.

If you’re looking for a way to save some money but can’t seem to make room in the budget, saving your raises could be the answer. Instead of adding the extra money into your budget, you can simply send it directly to savings and forget about it. In time, you can save up a substantial financial cushion.

Brought To You By:
Woody Alpern
CPA/PFS
www.yourwealth.com
woody@yourwealth.com

In tough financial times, saving money is easier said than done. For many of us, once we’ve paid the bills and bought the essentials, there’s just not much, if anything, left to save. Wouldn’t it be wonderful if we could save up at least a little money each month without even missing it? Actually, most of us can.

Some people make the effort to dig out exact change when they buy something. But the overwhelming majority of us just fork over the closest thing we have in paper money. When we get change back, we stuff it in our pockets and forget about it. Once we go home, it often ends up on the dresser. We may forget about it for weeks or months, or the kids might get it and spend it on candy or toys. Just imagine how all that change that we toss aside could add up over time.

Instead of leaving change lying about where it will get lost or pilfered, try putting it into a jar, piggy bank or some other container. Avoid spending it, and use only bills to pay for everything. If you faithfully put all your change in there, you’ll be surprised at how quickly it fills up. You might even find that you need a larger container if you want to save for any length of time!

Try saving your change in this manner for a year. If you have an extra dollar bill or two, feel free to throw that in as well. Just resist the urge to borrow from your fund, and let it keep growing. At the end of the year, you could have enough money to buy something nice or do your Christmas shopping. And if the entire family pitches in, you might even end up with enough money to take a vacation!

Saving change is also a good way to start an emergency fund. It will take some time, but saving up slowly is better than not having any money put away at all. Once you’ve built up some change, you could roll it up and put it into an interest-bearing savings account or a short-term investment vehicle to add a little more to it.

Other Ways to Save Change

If you do not usually spend cash, it’s still possible to save up your change. Some consumers who keep most of their money in a checking account round their checks up to the next dollar when subtracting them in their registers. This leaves them showing less money than they actually have in their bank accounts. It takes some getting used to when balancing your checkbook, but once you get the hang of it, it’s a great way to save change without actually handling it.

Some banks have also begun to offer programs that help account holders save change when using their debit cards. They round each purchase up to the nearest dollar, and transfer the difference into a savings account. Check with your bank to see if they offer such a program.

Even the most careful budgeter can waste change without even realizing it. By making a conscious effort to save your change, you can accumulate lots of extra money in a year’s time. And best of all, you’ll probably never miss a few cents here and there!

Brought To You By:
Woody Alpern
CPA/PFS
www.yourwealth.com
woody@yourwealth.com

Fashions change from year to year, but the one thing that doesn’t change is the cost. Clothes are becoming more expensive than ever. But at a time when it is critical that we save money, this is one area in which we can effectively do so – without giving up fashion sense.

Consignment shops offer individuals the opportunity to buy brand-name clothing for less. You can be assured the clothes are good quality because these shops only take new or used (worn one time) clothing. The label on the clothing is also required.

In fact, you can sell your own clothing with these shops and earn a commission. This is another way of saving on clothing costs.

But one of the most intelligent ways of saving money on clothing is an idea that has been around for ages: Buy one or two outfits and add an assortment of accessories to change the look of the outfit. Stick to colors that can be worn year round.

Remember to always have that one basic black outfit! You can accessorize it in a variety of ways and no one would know it’s the same outfit.

For those who have a closet full of clothes, it may not be necessary to buy any new clothes at all if you have maintained the ones you have well. This, in and of itself, can save you quite a bit of money.

Take care of your clothes by changing into sweats when you come home from work, hanging them up as soon as you take them off, taking care of any stains that may occur, and storing winter and summer clothes appropriately. If at all possible, purchase clothing that doesn’t require dry cleaning. That’s a huge chunk of change in savings right there.

You may also wish to swap clothing with your friends. This is becoming quite popular online as well. There is a website where you can swap children’s clothing as they grow out of them. Imagine the savings there!

When you initially buy clothes, look for quality; that is, clothes that will last a long time. Resist impulse buying. Just supplement your clothing with those things you need, not desire.

Looking good doesn’t require that you spend a fortune on clothes. If you are creative and have that confident air about you, people will not be looking at your clothes, but at you.

Brought To You By:
Woody Alpern
CPA/PFS
www.yourwealth.com
woody@yourwealth.com

Staying disciplined with your savings is just as important as staying disciplined with your family budget.

When you open a savings account, you are given a passbook. Every time you make a deposit or withdrawal, the amount is recorded in the passbook.

Let’s say, for example, that you have an online business where payments are made to you through PayPal and then transferred to your savings account.

While you may know how much you have deposited into your account utilizing a PayPal printout, it is still important to update the passbook whenever possible. This way, you can be sure that the funds you have deposited are noted in the passbook. You also want to receive the quarterly interest from your bank.

Unlike a family budget where you have to record expenditures and income, the passbook does the work for you. Each time you make a deposit or withdrawal, it is duly recorded.

The discipline needed is in cases when you cash a paycheck and set aside money to deposit into your savings account. Both can be accomplished in one visit to the bank. If you keep deposit slips in the glove compartment of your car or in your purse, you can easily make the two transactions at the same time.

On the other hand, if you merely cash your paycheck at the bank and take the money home, there is no inducement to fill out the deposit slip until another day. Perhaps you decide that you do not want to deposit the amount you initially set aside. Or perhaps you have a deposit slip already made out but decide to rip it up because you need a few extra dollars for something else.

Let’s face it; we have all been guilty of changing those deposit slips – even with the best intentions. But doing so sets a pattern for future deposits. This is where the discipline part of saving can make all the difference.

In these difficult economic times, we cannot afford to change the numbers that can adversely affect our savings. If the household budget calls for depositing a certain amount of money into the savings account, then that is the amount that needs to be deposited. No ifs, ands, or buts.

It’s quite easy to say we will make up the difference the following month, but the odds are that will never happen.

If you have a budget that requires a specific amount of money to be deposited in the bank weekly, bi-monthly, or monthly – try to stick to the budget. That is the true test of discipline and your willingness to abide by your own financial policy.

Brought To You By
Woody Alpern
CPA/PFS
www.yourwealth.com
Woody@yourwealth.com