Dollar Tamer Helping you tame your money

I came across an article on Yahoo Finance that the issue of privitizing social security may not be dead after all.  Currently, neither Obama nor McCain want to even mention privitization.  With the down market, it’s not a popular plan in the least.  However, everyone is aware of the problems with Social Security:

• An extremely low rate of return, especially for larger or higher income families.
• The quickly disappearing funds for the entitlement.
• You have no legal rights to your Social Security funds.
• You can not pass on these benefits to your heirs once you die (with a few exceptions).

For anyone looking to take control of their finances, Social Security is not the plan to retirement.  A quick calculation shows I can expect around a 2.5% return on my Social Security “investment”.  Historical rate of return on the stock market is 10%.  Furthermore, these funds are your funds.  If you die, they are an asset in your estate.  You are fully entitled to the funds, it is your money.  In order to control your finances, they need to be your finances!

With the down market, people are blindly willing to throw more and more tax money to the government in the hopes of a secure retirement.  Relying on Social Security for your retirement is foolish.  Take the time to invest in your own retirement (401k, IRA, etc).  The market goes up and down but over the long haul, it always rises.  Don’t succumb to fear, invest with confidence and rely on yourself instead of the government.

When the privitization talk comes around again, be sure to remember these facts.  You’ll surely start to feel the attempt to ‘recover’ Social Security when the FICA taxes start going up again.

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Posted under Investing, News

There’s a couple sites you really should visit to find some free and discounted kids meals in your area: www.kidsmeals.com and www.mykidseatfree.com/Select_A_City.asp are both great places to find ways to let your kids feast on the cheap.  There are so many deals I can’t begin to list them all.

Head to those websites and put in your zip code.  You’ll be amazed how many free/discount kids meals you can find for every day of the week.  Eating out is an expensive item, especially if you have kids.  This is an easy way to cut some of the expense out of it!

Put any other related links you can find up in the comments section.  We can never have too much free food!

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Posted under Deals

Just found that you can buy any online only items on cvs.com for 25% off.  Link is here.  It’s only for items they carry online but not in the store, but you might find something you want in there at a bargain.

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Posted under Deals

I came across an article on the News Times about couponing I thought I’d share.  It explains the importance of planning your meals when couponing.  Coupons are great for buying non-perishables well ahead of time, but you need some forethought when purchasing perishables.  Spoiled food you have to throw out is still a waste, regardless of the excellent deal you got on it!

It’s an interesting read and includes her meal plans for a week (along with the total cost of each meal).  Don’t forget to check out our post about couponing! Anyone here matching or beating her deals?

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Posted under Deals, Spending

I’m sure everyone is aware of these tips, but it’s easy to get into old habits and forget to practice them:

• Combine trips when traveling to save on gasoline.
• Install low energy lighting to save electricity (check out exactly why you should install low energy light bulbs to see what a great savings this is).
• Open your windows and turn off the air conditioning when it is nice outside.
• Maximize laundry loads to save on water and dryer costs.
• Turn down your water heater thermostat to save on gas/electric.
• Re-insulate drafty windows before winter sets in.
• Open blinds on the sun-facing side of the house for free solar heating during the winter.
• Close blinds on the sun-facing side of the house during the summer to keep the house cooler.
• Use coupons to maximize grocery savings.
• Stock up on meat when it is on sale and freeze it.
• Stick to your budget!

These are just a handful of tips we should all know.  Add your tips to the comments!

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Posted under Spending