Self employment offers many benefits. You can be your own boss, set your own hours, and even control your income to some extent. Unfortunately, it also means walking away from corporate benefits, including health insurance, 401K plans and more. While you can easily save for retirement with an IRA, finding good quality and affordable health insurance for you and your family is much more of a challenge. Explore your options and consider what you can do to keep critical health care protection in place without draining your bank account.

If you are just starting your own business, you may be able to continue health care coverage from your previous employer for up to 18 months using COBRA. This option can be cost effective, depending upon the insurance plan. It can also prevent any lapse of coverage. In any case, this is a short term solution to a long term issue for entrepreneurs and the self employed.

Health insurance can be purchased via an online or in person insurance broker, much like home owner’s insurance or auto insurance. Insurance brokers can assist you in finding a plan that meets your needs for the best price available. Include only services that you will need and use in your coverage, if at all possible. A single man has no need for maternity coverage. Consider joining a trade or small business association for group plan options. Some trade associations offer group health insurance or discounts on individual plans. You might also consider checking with your state. In some states, health insurance plans may be purchased directly through the state for individuals without access to group plans.

Many entrepreneurs opt for catastrophic care coverage. These plans have a higher deductible, but much lower premiums. While this sort of health insurance is not ideal for anyone with regular health care needs, it can be quite adequate for young and healthy individuals. Catastrophic care insurance can be combined with a Health Savings Account can provide an affordable alternative to more comprehensive insurance plans.

If you have pre-existing conditions that preclude purchasing standard health insurance, see if your state offers a guaranteed-issue plan. While treatment for your condition may not be covered, unrelated health issues may be.

See insureuonline.org/smallbusiness for further tips and information on health insurance for entrepreneurs, freelancers and others without access to group plans.

While the current economy has made starting a small business harder than ever, many people are considering venturing out on their own. A job loss or fears regarding job security may push a thought into action, but regardless of the motivation, learning how to access the funds to start your own small business is a critical first step. Where to get small business start up loans may depend upon how much you need, your credit, and what you intend to do.

The first place to start if you are considering a small business loan is sba.gov. The Small Business Administration offers resources for new entrepreneurs, including information about start up loans and financing. Once you have a basis of knowledge, you are ready to move on to considering your financing needs in more detail.

Make a business plan. This is a critical step, and no one will offer you small business financing without a plan. Consult entrepreneur.com for assistance with your business plan. Find out what legal steps are necessary to protect your home and assets when starting up your business and taking out small business loans. You should also secure any licenses or paperwork required. If bonding is necessary for your business, be aware that the Small Business Administration offers a bonding assistance program.

If you are starting a very small business, your start up costs may be quite low. Consider asking a family member or friend to invest in your new business, if you are comfortable doing so. A microloan of this nature can allow you to start your new business with less effort and stress. Be sure to create a loan agreement in writing, complete with terms in case your business does not succeed. Avoid these sorts of personal start up loans if you need a substantial sum.

Check the possibilities for community resources in your area. In some areas, financing assistance is available via a small, community organization. In some cases, these even specialize in helping new businesses get the financing they need, especially those in poor neighborhoods or with other qualifications. While loan amounts are typically smaller in these instances, they may offer loans with easier credit requirements and some start up grants may even be available.

If a small business start up loan is not available through any of the resources in your community and you have determined in your business plan that financing is critical, visit banks in your area. Ask about the borrowing terms for a small business loan. You should be aware that your personal credit will be relevant at this point and they are unlikely to lend to a borrower with poor credit.

Happy Groundhog Day, Queercents readers! It is I, your friendly neighborhood vlogger, back from hiatus with a new blog post on holiday credit card debt.

I know the holidays are long gone, but if you’re young and just went through your first holiday season without school as an excuse, you probably racked up the charges on your card. It’s okay. I wouldn’t recommend doing it again, but it’s understandable. You’re not alone! Millions of others do the same thing. The only thing is, millions of others are in credit card debt and don’t save any money. Don’t be like that! Nurture the sugar daddy within. And please, follow my advice, which follows below.

Do you ever feel like you’re uninspired in the kitchen? I’ve written about getting into a food rut before, but this is a constant challenge that all home cooks face from time to time. Food ruts can be dangerous, because it’s easy to start relying on convenience foods and restaurants to fill the void – and there goes the food budget.

One of my goals for 2010 is to try at least one new recipe each week. So far, I’ve been exceeding my goals. I’m so excited about trying new recipes that I’ve been making 2-3 new things each week. I’m still in the honeymoon phase of my New Year’s resolutions, but I think this one’s going to stick.

I think that one of the biggest hurdles that people face when they start cooking for themselves is the overwhelming fear that you’re going to fail. Don’t worry if a recipe doesn’t come out great – you don’t have to be perfect. Even experienced cooks make mistakes. Last week I made bowtie pasta with pesto and peas. Not the best thing I’ve ever eaten, but at least I tried something new. If you make a dish that doesn’t turn out the way you anticipated, just move on – it’s not the end of the world!

Some of the other new recipes I have tried include vegan mac and cheese, cranberry and walnut cookies, and chocolate chocolate chip cookies with bacon (don’t knock it until you try it). I have been sitting down once a week to look through my cookbooks, pick out recipes, write out a meal plan for the week, then make my shopping list. I literally write the meal plan on my kitchen calendar so that I don’t forget what’s happening, and it really helps me stay on course.

Tonight’s new recipe is called “neat loaf.” It’s a vegan substitute for meatloaf that has mushrooms and walnuts instead of meat. I modified this recipe from The Peaceful Palate, by Jennifer Raymond. It’s gluten free, and if you omit the soy sauce, it’s also soy allergy friendly. I served it with mashed potatoes and lima beans, and boy, was it tasty!

Neat Loaf
Makes 8-10 servings

2 cups cooked brown rice
1 cup walnuts, finely chopped
1 cup mushrooms, finely chopped
1 onion, finely chopped
1/2 red bell pepper, finely chopped
2 carrots, shredded or finely chopped
1 cup quick rolled oats
1/2 tsp each: thyme, marjoram, sage
2 Tbsp soy sauce
2 Tbsp mustard
BBQ sauce or ketchup

Preheat the oven to 350 F. Combine all of the ingredients except the BBQ sauce/ketchup. Mix until well combined. Pat into a lightly-greased loaf pan. Top with BBQ sauce/ketchup. Bake for 60 minutes. Let stand for 10 minutes before serving.

This recipe was so easy to make. I just put my ingredients in the food processor to chop them all up, and the rice was leftover from a previous meal. If you don’t have leftovers that you need to use, why not throw this in the rice cooker while you prep all the other ingredients? And speaking of leftovers, you could use leftovers to make a tasty neat loaf sandwich to take in your lunch the next day. Double bonus!

Enjoy!

Photo credit: stock.xchng

Imagine you’re a renter. You’ve been paying your rent faithfully every month. Then you come home from work one day to find an eviction notice on your door. Your landlord has defaulted on the property, a bank is the new landlord, and they’re forcing you to get out. What do you do?

For the past two years, the headlines have been dominated about housing foreclosures. One of the aspects of the foreclosure crisis that has received very little attention, however, is the role that rental properties have played in the housing slump. Many landlords have seen their properties go into foreclosure, and as a result, many tenants have found themselves in very dire straights. In Minneapolis alone, 65% of foreclosures have been on rental properties. Nationwide, it is estimated that 40% of people to lose their homes to foreclosure are renters. And according to a report by the Center for Responsible Lending, the number of rental properties going into foreclosure is expected to rise.

Fortunately, renters have very specific rights when it comes to the foreclosure process, thanks to a bill passed in April.

Protecting Tenants at Foreclosure Act of 2009
According to the Protesting Tenants at Foreclosure Act of 2009, banks or owners who obtain a property through the foreclosure process do not have the right to evict a tenant if a lease is still in effect. The exception is if the new owner wants to live in the property. In this case, tenants have to be served 90 days notice – which is much longer than the typical eviction process. In summary:

• Leases would survive a foreclosure — meaning the tenant could stay at least until the end of the lease.  The lease survives and ends as it would had there been no foreclosure.
• Month-to-month tenants would be entitled to 90 days’ notice before having to move out
• Any state legislation that is more generous to tenants will not be preempted by the federal law
• These protections apply to Section 8 tenants, too

Relocation Assistance
If Fannie Mae or Freddie Mac owns the mortgage on a foreclosed property, renters should consider themselves lucky. Both agencies have vowed to assist renters with the relocation process by providing money to help renters pay security deposits and first months’ rent on a new place to live. The only way that a tenant would know the details of their landlords’ mortgage is to wait for Fannie Mae or Freddie Mac to contact them. That can be a bit unsettling, because you may not have an exact time frame for that knock on the door. One real estate appraiser I talked to said that their office is so backlogged with foreclosed properties that it can often take 9-12 months before Fannie Mae takes action on a foreclosed property. However, the standard is that Fannie Mae will contact the tenant within 30 days of the property going into foreclosure.

To find out if you are eligible for rental or relocation assistance from Fannie Me, click here. Although Fannie Mae will allow you to sign a new month-to-month lease in order to keep people on the property, you should be aware that the property will be on the market, and that you would have to be willing to allow real estate agents to show the home.

If you’re living in a rental property that has undergone foreclosure, here’s wishing you the best as you and your family relocate.

Additional Resources:
NOLO
Legal Assistance Resource Center

I recently had dinner with a friend who asked me if I could teach her how to cook. She and her husband eat out every night because neither one of them knows how to cook, and it’s really taking its toll on their budget. “I need to know how to cook cheap, healthy food, and it has to be easy.” I think it’s great that she has specific goals in mind, and I’m really excited to help her achieve them.

One of the first things to consider when you are learning how to cook is making a meal plan. A healthy meal has three components: protein, starch (aka “carbs”), and fruits/vegetables. If you think of your dinner plate as a map, half of your plate should consist of fruits/vegetables, and the other half is equally divided between protein and starch.

I know that many of us are avoiding carbs like the plague, but complex carbohydrates really are the cornerstone of a healthy diet. The key to carbs in picking whole grains. For instance, brown rice is healthy than white rice. Sweet potatoes are better for you than white potatoes. And wheat bread is healthier than white bread.

Protein is a really important component of healthy eating, because your body processes proteins slower than it processes carbohydrates. Fruits, vegetables, and grains are processed really efficiently by the body, and if you don’t consume any protein with your meal, you’re going to be hungry again in a short amount of time. Protein serving sizes vary depending on the type of protein being consumed, but if you are eating meat, an appropriate serving is typically about 4 ounces, which is about the size of a deck of cards. Nuts, cheese, tofu, and other soy products all count as protein, too.

There are many excellent resources out there to help you find cheap and easy meals. I highly recommend the Better Homes and Gardens Cookbook, because it is a very basic cookbook that will serve you well for years to come. Although I loathe her personality, Rachel Ray is also a tremendous resource. Her monthly magazine provides shopping lists and meal planners for the entire month, and most of her cookbooks have recipes that can be made in under thirty minutes.

If you’ve been a longtime follower of the Stretch Your Food Dollar series, you’ve probably already seen most of the recipes that I’ve shared. If you’re new to Queercents, go through the Stretch Your Food Dollar archives, because there’s lots of helpful tips and easy recipes there. Bon appetit!

It’s the New Year, and many of us are making resolutions for 2010. My 2010 goals are very similar to last year, but I’ve added some new goals, too:

• Track all my expenses
• Spend $350 a month or less on food
• Put $200 a month in savings
• Try one new recipe each week
• Write every day
• Read every day
• Meet my goal weight of 165
• Practice daily spirituality

The goal of putting more money into savings is going to be a challenge, but it’s a challenge that I am excited to meet.  It will mean slashing our entertainment expenses and keeping our utility costs in check, but I would much rather see our money going into savings than into the coffers of the electric company.

The first book that I am reading for the new year is Dan Brown’s The Lost Symbol. The book has a lot of information in it about the belief that your thoughts can literally effect the outcome of events. Although the book is fictional, it has a basis in reality. A few years ago the film “The Secret” enjoyed a wave of popularity, and many people, Oprah included, were turned onto the idea of sending positive intentions out in to the universe in order to attract abundance into their lives.

The basic premise is that our thoughts are like magnets that have the ability to attract actual matter. It’s simply a question of switching your mindset and the way that you think about your life. For example, if you constantly think about all the debt that you have, you are going to be attracting more debt, because that is the energy that you are sending out into the universe. However, if you flip the script and start expressing gratitude for your ability to meet your needs, you will start attracting more prosperity.

I know . . . it sounds a little hippie dippy. I was skeptical when I saw “The Secret,” too. But I started to read more about the idea of mind over matter, and there’s a lot of evidence to support this claim. In fact, Lana wrote a whole series for Queercents last year about building personal wealth consciousness by applying many of the same principles that are discussed in “The Secret,” as well as The Lost Symbol.

Set Specific Goals
To get started, write down your goals for the year and then post them in a place where you will see them every day. You could make just a simple list, or you could do a vision board/treasure map where you put up pictures that represent your goals. Another way to do this is to write your intentions on a piece of paper, then put the paper in a flower pot. Plant some seeds, and as your plant grows, so grows your intention. Be sure to put a small piece of bread in the bottom of the pot as a gift for the plant.

Good News is Worth Repeating
Begin each day by affirming your intentions for the year. For example, I will meet my goal weight this year, and I will save $200 each month. When you pay your bills each month, do it with a attitude of abundance. For example, I am grateful that I have more than enough money to meet my needs.

Out With the Old, In With the New
Is there something negative in your life that might prevent you from meeting your goals in 2010? Why not have a purging party, like these New Yorkers did? You could write down what you want to purge, then put it through the shredder. Another way to do it is to write it down and then burn the paper in a bowl. You could put a small amount of patchouli or witches’ hazel in the bowl if you want, because both of them have cleansing properties.

Visit msnbc.com for breaking news, world news, and news about the economy

What’s your opinion? Do your thoughts really have the power to effect your financial outcomes? If you think about wide open freeways, will you really avoid the traffic? I’d love to get your take on it. What are your goals for 2010?

Photo credit: stock.exchng

As the New Year approaches, many of us are reevaluating our budgets, looking at our goals from the past year, and setting resolutions for the year to come. Maybe you stuck to all of your goals, and maybe you fell off the wagon near the end of the year. Either way, January is a great time to recommit to fiscal responsibility.

Setting a food budget is an important part of your overall budget. Unlike your rent, insurance, or cell phone bill, your food budget is unlikely to be a fixed amount each month. You have more flexibility with this spending category, but that can be both a pro, and a con. How do you decide what a realistic number is for your household’s food budget?

Each year the USDA compiles statistics about the average cost of food in the US, and it offers guidelines for families to help them set a realistic food budget. In 2009, the average household of two probably spent $350 – $450 a month if they were on a thrifty or low-cost eating plan.

My partner and I set a goal of spending $350 a month on food, and we did pretty good until October. Then life got pretty hectic. I got a job working outside of the house, and my partner had classes two nights a week. Eating a home-cooked meal every night was a big challenge. Even with the best of intentions, we went over budget several times due to eating out once a week. I’m looking forward to regrouping and recommitting in January. When I actually take time to plan the week’s meals, taking the week’s schedule into account, it makes it much easier to plan for late nights.

If you’re in the same boat as me, how about recommitting to track your expenses? Using an Excel spreadsheet is a simple and free way to track all of your expenses – you just need to remember to get a receipt for everything you buy. If a receipt isn’t available – because you bought something from the vending machine, or from the taco vendor off of the street – then keep a little notebook in your purse so that you can make a receipt for yourself. Enter all your receipts into the spreadsheet on a regular basis – like on Sundays over coffee and the Sunday paper – and it’s easy to see if you’re staying on track with your spending goals.

Here are a few simple tips from previous Queercents articles to help you stretch your food dollar and stay on target with your family’s food budget.

1. Never grocery shop when you’re hungry – you end up buying more.
2. Always shop with a list, and stick to the list.
3. Scout the weekly food ads to find out which store has the best deals.
4. Pay attention to coupons and see if your grocery store offers double coupon days or will honor competitors’ coupons.
5. Avoid buying products on the end caps, as well as pre-prepared convenience foods. The best deals are going to be found in the produce, meat, and dairy sections. Cooking whole foods isn’t just cheaper – it’s healthier, too.

Here’s to your financial health in 2010!

Photo credit: stock.xchng

I’ve been doing a lot of research lately about cell phone providers because my contract with AT&T expired several months ago. I want to find the best deal possible, but I also want to make sure that the money I pay the phone company each month isn’t going towards political causes that hurt the gay community.

A recent issue of Consumer Reports rates the four major cell phone providers in the US in terms of cost, service coverage, and overall customer satisfaction. Verizon rates the highest in terms of customer satisfaction and cost. AT&T is the best in terms of smart phones and internet accessibility. Sprint and T Mobile are at the bottom of the barrel in every category. The article also compared the major service providers against pre-paid cell phone services and found that for customers who simply want phone service without any of the bells and whistles, pre-paid service is a very suitable option.

The article did not, however, factor in the question of politics. Queercents readers have often been asked if they would boycott a company if it supported anti-gay causes, regardless of whether or not they were cheaper than a gay-friendly company. The feedback has been mixed, but pretty heavily in favor of boycotting anti-gay companies.

The HRC Corporate Equality Index has pretty detailed feedback about the major cell phone providers, although T Mobile is not listed in the Corporate Equality Index. Verizon has a 70% rating. They provide domestic partner benefits for their employees, and sexual orientation is included in the company’s nondiscrimination policy, but gender identity is not. They also don’t provide any sort of training for managers about LGBT employment issues. And they are not listed as an LGBT philanthropic group.

AT&T has a 100% ranking. They include both sexual orientation, and gender identity in their nondiscrimination policy. AT&T provides domestic partner benefits for their employees, and transgender health care is fully covered under the company’s plan. AT&T also provides training for managers on LGBT employment issues, and they are a financial supporter of LGBT causes. I would be pretty shocked if they weren’t, though, seeing as AT&T is the only provider that supports the iPhone, and gays seem love anything that comes from Steve Jobs.

Sprint also has a 100% ranking. In my experience, though, Sprint has terrible customer service. I don’t care how many rainbow ad campaigns they might have, I would never sign another contract with them.

What about you? Are you concerned about how your cell phone company is spending the money you give it? Or would you be willing to go with Verizon simply because they have the best rates and higher customer satisfaction? I’d love to hear your opinion.

Photo credit: stock.xchng

If you’re in a rush to get some last minute gifts together, either for a friend or a coworker, or you just want to get down with your bad self in the kitchen, fudge is an awesome holiday present. Although the fudge is easy to prepare, you do want to budget enough time for the candy to cool before you cut it and package it up. I would plan to make the fudge the night before you plan to give it away.

Here’s a recipe for grown up fudge. Just a few tips before you get started. For starters, use a larger saucepan than you think you will actually need. Think twice as big. The first time I made fudge, I ended up with hot chocolate lava all over the stove, counter, and kitchen floor because I didn’t use a big enough pan.

Second, you’re going to need a kitchen thermometer that reads up to 236°. (This is not the same kind of thermometer that you use to take your temperature.) You should really consider keeping one in your kitchen, anyway, so that you can ensure that you’re cooking meat to the proper temperature. Maybe you already have one with your BBQ grill. If you’re got a digital thermometer, you won’t need to calibrate the thermometer before you get started. The easiest way to calibrate your thermometer is to stick it into a glass of ice water and set the needle to 32° when the needle stops moving on its own. And always make sure you sanitize your thermometer before and after each use.

OK, now for the good part: the fudge! Oh, did I mention that this recipe is vegan?

Grown Up Fudge
2 cups sugar
1/4 cup liquor
1/2 cup soy milk
2 ounces unsweetened chocolate, cut up
1 tsp light corn syrup
1/8 tsp salt
2 Tbsp soy butter

1. Line a 9″x5″x3″ loaf pan with foil or wax paper, extending it over the edges of the pan. Spray with nonstick pan spray and set aside.

2. Spray the sides of a 2-quart (or larger) heavy saucepan. In the saucepan, combine the sugar, soy milk, liquor, chocolate, corn syrup, and salt. Cook and stir over medium heat until the mixture starts to boil. Reduce the heat to medium-low and continue to stir while cooking.

3. Place your thermometer in the chocolate mixture and keep cooking until the mixture reaches 236°, stirring constantly.

4. Remove the saucepan from the heat. Add the soy butter, but do not stir. Cool, without stirring, to 110°.

5. Beat the mixture vigorously until the chocolate begins to thicken, and the chocolate begins to lose its gloss.

6. Immediately spread fudge evenly in the prepared loaf pan. Score into squares while the chocolate is still warm. When the fudge is firm, use the foil/wax paper to lift it out of the pan. Cut the fudge into squares following your score lines.

You can use any liquor that you think would mix well with chocolate. Kahlua or coffee-flavored brandy is an obvious choice. Butterscotch or strawberry schnaps, raspberry-flavored vodka, and Grand Marnier also mingle well with chocolate. If you really wanted to splurge, you could go for some Chambord, but that would really be going overboard on the holiday spending. Maybe it’s best to wait for that until Valentine’s Day.

Try garnishing each piece of fudge with something that clues the recipient into your secret ingredient. You could use a whole coffee bean for the Kahlua fudge. For Grand Marnier, a few shavings of orange zest would do. It’s best to garnish the fudge before the chocolate is totally cooled, because then the garnish sticks to the candy.

This recipe will make 24 pieces of fudge. You can package it up several ways. One cute idea is to put it in a coffee mug, but you could also put it in little tins that are available in the dollar bin at your local craft store. Another simple idea is to put it in a sandwich bag (not the zipping kind – the kind you fold over), then tie it shut with curling ribbon or some raffia.

I hope you enjoy your grown up fudge, and that the special someone you give it to does, too. Happy holidays!

We’re smack dab in the middle of the holiday season.  How are you doing on your spending goals?

I’ve never been one to go on a huge spending spree during the holidays.  Don’t get me wrong – I love to give and receive gifts.  However, I just don’t see the point of wracking up credit card debt to do it.  If I don’t have the cash to pay for something, it doesn’t go in my shopping cart.

Nevertheless, last year my partner and I went a little overboard buying presents for each other because it was our first Christmas together.  This year my partner and I agreed to a very low spending limit for buying holiday presents.  We agreed to limit the number of people that we bought gifts for, and we only spent $10 per person.  For gifts for each other, we agreed to stay under $75 total, including stocking stuffers.

It’s been both a challenge, and a little bit exciting to stick to our spending goals.  Lots of homemade presents are making their way to family and friends this year in order to meet our goals.  We’ve baked a lot of cookies, and this weekend was a fudge-packing extravaganza (pun intended).

Here’s how we were able to stick to our budget: 

1.    We made a list of everyone we wanted to send a holiday card, then decided if we wanted to include a photo from our wedding.  Since we kept the number of people we invited to the wedding to a minimum, we only needed to order a few prints to send out with holiday cards.

2.    Just like Santa, we made a list of gifts that we were going to give, (checked it twice), then marked items off of the list as we bought or made them.  It’s funny, but without keeping track of the gifts you’ve bought, it’s really easy to buy more gifts than necessary.  For example, I forgot that I had bought a present for my aunty, so I made her some Christmas tree ornaments.  In the end, it only adds up to a few extra dollars spent on crafting supplies, but just imagine how much money I would unintentionally be spending if I didn’t keep track of everything.

3. The dollar bins at Michael’s and Target are a great place for holiday shoppers on a budget. I got really adorable holiday cards, wrapping paper, and stocking stuffers in the dollar bins. I typically stockpile dollar bin items all year, then sort them out during the holiday season. You just never know what you’re going to find if you check the dollar bins on a regular basis.

4. Limiting holiday travel. We also made a conscious decision not to travel this year in order to build our savings accounts back up to where they were at the beginning of the year (before the wedding, reception, and honeymoon).  I have to be honest – I’m pretty excited to stay at home in Tucson, enjoy a few days away from the office, and not have to deal with any snow.

These are just a few ideas that have helped me and my partner stick to our holiday budget. What about you all? How are you doing on your end of the year financial goals? And what tips do you have for sticking to a holiday budget?

Photo credit: stock.xchng

More and more grocery stores are offering a discount or financial incentive for shoppers who bring in their own bags. Reusable bags save stores money and are a more ecologically friendly alternative. Many stores now have affordable bags available near the cash registers, making it easy to accumulate a collection of practical and inexpensive shopping bags.

While the environmental benefits of reusable shopping bags is clear, you may be surprised to consider some of the other benefits. Large reusable shopping bags can be more comfortable to carry, making it easier to bring that load of groceries in the house. Square or rectangular bottomed shopping bags line up neatly in the trunk or cargo area of your vehicle, allowing you to make the most of the available space and avoid having your purchases spill.

Depending upon the store, discounts range from 3 cents per bag to as much as 10 cents per bag. While the cost difference on a small one bag purchase is minimal, if you routinely purchase 15 to 20 bags worth of groceries, the discount can be much more substantial. Even the minimal amount saved per bag adds up over time. Saving $2.00 a week with bag credits will add up to $104.00 per year (and as anyone shopping for a family knows, 20 bags a week would not be uncommon).

Many health food stores, locally owned groceries and some major discount chains offer bag credits. At CVS drugstores, every 4 purchases without a plastic bag results in a $1.00 store credit. Whole Foods stores offer between a 5 cent and 10 cent credit per bag. In November, Target stores around the country will begin offering a 5 cent discount for every reusable bag. Stores like Sam’s Wholesale Club and Costco have never offered bags, but are phasing out boxes in lieu of affordable large reusable shopping bags. Other stores, including IKEA, have taken another tactic. Disposable plastic bags come at a 5 cent charge, while a reusable bag is available for $.59.

Encourage your local stores to offer bag credit programs and consider spending your money at stores that do. Some retailers, including Wal-mart are behind on this smart trend. While Wal-mart does offer inexpensive reusable bags at the register, there is no incentive to skip the plastic.

Queercents.com is back and we thought it would be good to start out with an article about money making in these tough times.

In today’s tight economy, many people are finding themselves in need of extra money due to a job loss, higher bills or other worries. While fewer people are spending, you may still find that you can bring in a little extra money online. Keep in mind that some services may charge fees and have additional costs that can reduce your overall profits. Working smart can help you make extra money off items you have around the house or simple old fashioned hard work.

E-Bay remains a popular choice for both buyers and sellers. While seller fees have risen in recent years, e-Bay remains a good option if you need to sell collectibles, electronics, or higher quality items. Small items and handmade goods sell rather poorly on e-Bay and fees may eat up your profits if the margin is slim. Avoid selling items with a poor profit margin and take advantage of flat rate shipping options offered by the US Postal Service for the most convenient shipping. You can even have packages picked up at your home if you print postage online.

Craigslist is an excellent choice whether you need to sell something or offer a service. Be sure to carefully read the terms of use and make sure that your ad is acceptable. Furniture, cars, boats, clothing and household goods can all be sold via Craigslist. You can also offer up cleaning services, yardwork, home maintenance or any skill you may have that someone else can use. Consider offering skills for both cash and trade. You may be able to swap house cleaning for hair cuts, yard work for a new television or computer repair services for car repair.

Small scale service businesses remain a good source of side income. Consider your marketable skills. While today’s economy is tight, home organization, cleaning, and party planning can still be profitable if your prices are reasonable. Baby sitting, pet sitting or elder care are also necessary businesses even in a tight economy. Computer repair, car repair and handyman services are also in need. You may want to make simple flyers and post them on bulletin boards in your community, as well as in local online resources. Collect references or examples of your skills if at all possible and market yourself well for success. While it’s unlikely you can make a significant income, these options can help provide a critical financial cushion.

After drawing 1.5 million page views with nearly 2,500 posts from over 50 contributors; Queercents is taking a time out.

More precisely, its leader needed a break. Since 2006, Queercents has consumed my early mornings and a good deal of my weekends, but it’s time to pass the torch to someone better equipped to write its next chapter. By the end of the year, an improved Queercents will live on, albeit without me, at a gay destination attracting 10x the traffic than we ever could.

In the meantime, we’re on pause, but our searchable archives remain with more than a few timeless ideas about money. So feel free to stick around.

Over the years, it’s been a pleasure leading a team of committed volunteers producing relevant financial content for the LGBT community. I consider Queercents a collective success because of these writers. I also extend my appreciation to Serena Freewomyn, Paula Gregorowicz and Elizabeth Byrne; each put in extra effort behind the scenes. I’m proud of our accomplishments, excellent content, brand awareness, and loyal followers… after all; a blog is only here for its readers.

And a reader I will become. And then maybe I’ll become something else. When I’m done resting. But rest assured, whatever it is, it will probably touch on the topic of money… because I like money. I like to think there’s some good in money. I hope this site helped you see the good in it too! Be well and prosper!

Queercents will be back in new form soon…

Growing up, we never discussed the stock market. It just wasn’t part of my household, my neighborhood, or (to my recollection) the national zeitgeist.

My parents probably had some money tucked away in a mutual fund or two that were recommended by my Uncle. The Sunday newspaper had a thick section filled with the weekly summary of stock and mutual fund trading values printed in impossibly small print. The subject was a foreign language, full of arcane symbols.

The only investments ever discussed were savings accounts and certificates of deposits. I would take my birthday money to the bank along with my savings passbook. The clerk would fill out the deposit slip and enter the deposit amount in the passbook, initialing the entry.

Growing up with inflation

The bank paid 5% on deposits. We never shopped around for a better rate, because it would have been too inconvenient to travel elsewhere to transact business. During my high school years, inflation grew to 5%, then 7%, then 10%, finally reaching a peak of 13.5% in 1980. As I recall, the bank continued to pay about 5% on my savings. Even with my measly high school math I knew I was losing ground. Inflation was the story of the day. It dominated the nightly news. President Ford encouraged the nation to “Whip Inflation Now,” with his big red WIN buttons.

I don’t mean to bore you with tales from this old geezer’s childhood. I’m telling you this in case you are too young to have lived through inflationary times.

The graph below shows the relative changes in the Consumer Price Index (CPI) and the S&P 500 index over my lifetime (so far). Both values are normalized to 1. If someone had bought stock in the year I was born, and held it through my college graduation, they would have lost money, relative to inflation. No wonder no one talked about the markets!

Since 1980 we have had very steady* but slow, controlled inflation, at an average annual rate of about 2.3%. Some conspiracy theorists believe that the government has been cooking the books to keep the inflation calculation artificially low, so it doesn’t have to give senior citizens a Social Security cost-of-living raise. But when I think back to the cost of common items like a candy bar or milk I think it’s probably actually increased by a factor of 2 since the 80’s, which is what the chart says, so I don’t think the government has been cheating.

Note also that since 1980, or maybe a bit before, the S&P 500 has been on a tear, increasing at an average annual rate of about 8.8% (ignoring the internet bubble of 2000). That’s a real return of 6.5% (8.8% - 2.3%). That made saving (and investing) worthwhile.

Will inflation return?

Isn’t that the $64 question? Our government’s been printing money to pay for bailing out the banks and carmakers. It’s ok to print extra as long as the economy grows to absorb the cash infusion, but we’re not growing much right now. If we can’t absorb it, then we need folks to buy it in the form of T-Bills and the like.** Thankfully, China and others continue to support our excesses. However, we need to consider what would happen they stop buying. Or if the imbalance between printing and growth stays out of whack for very long.

How can I protect my investments, should inflation return?

There are a few things you can do now to help guard your nest egg against the ravages of inflation.

• Bonds. Check that your bonds and bond funds have a relatively short duration. That means that they’ll be more able to respond to interest rate changes. Interest rates received on deposits usually rise during inflationary times (despite my childhood experience). For example, you probably wouldn’t want to buy a 30-yr Treasury today. You’d be locked in to its 4.5% payout. Better to go for a shorter term note. It’ll pay a lower rate, but you can reinvest it sooner at what is likely to be a higher rate.
• TIPS. The principal of a Treasury Inflation Protected Securities rises with inflation. The rate is fixed, but since the principal rises, so does the semi-annual interest payment. When the security matures, you receive back the inflated principal. The minimum purchase is $100. A recent issue rate for a 10-year TIPS is 1.875% vs. 3.625% for a non-inflation-indexed Treasury note.
• I-bonds. A version of the venerable Savings Bonds, the return on I-Bonds is also pegged to inflation. You can buy these in denominations of $25, with a maximum purchase of $5,000 per year per person.
• Inflation “plays.” You could short long bonds. (That’s just fun to say.) Short sell an ETF that invests in long-term bonds, for example, Vanguard’s EDV. If inflation rises, the value of the long bonds will fall.
• Commodities. Inflation means that the price of basic stuff rises. Copper. Gold. Timber. Commodity ETF’s can take the edge off.

I hope inflation doesn’t return. The Fed has a 30-year (and counting) track record of matching the money supply to national growth. Perhaps we’ve actually learned to to manage it. This year was extraordinary, of course. The next few years should tell the real story.

*Note that the vertical axis on the graph uses a log scale. A straight line indicates a constant rate of change.

**This version of the Federal Monetary Policy has a bit of “poetic license.”

Disclaimers: This information is provided for educational purposes only. It may not apply to your personal financial situation. Before investing, you may want to discuss your plan with an investment advisor or financial planner. Investments in ETF’s and in mutual funds are not FDIC insured and can cause loss of principal. (You can lose money).

Full Disclosure: No position in EDV.

By day, Helen engineers new materials to make computer chips cheaper, better, and faster. When the son goes down (pun intended), she writes about personal finance at Affine Financial Services.

“Spending is quick, earning is slow.” – Russian Proverb

For the past eight years, my wife and I have been self-employed.  We correspond at least quarterly with our CPA to ensure that we pay the correct amounts on our estimated taxes.  Since our business income and expenses can vary so wildly, we’ve pretty much given up on trying to forecast the number at the beginning of the year.

Our most recent communication with our CPA delivered some very good news.  Our daughter’s adoption, which was finalized in April, means we will qualify for the Adoption Tax Credit.   Since the adoption was considered a special needs adoption, and qualified for the Adoptions Assistance Program, we’ll be able to claim the full 2009 credit of $12,150.

That’s quite a windfall.

Although we knew that we’d be eligible for the Adoption Tax Credit when our daughter’s adoption was finalized, we didn’t count on it happening this year.  Even though she’s lived with us for nearly three years and was never going to be reunited with her birth family, a queer-unfriendly social worker turned what should have been a straightforward older child adoption into a year-long legal battle.  Even after we won the right to adopt, our agency stalled for another six months before finalization.

We didn’t count on the credit because, quite frankly, we weren’t sure the adoption would ever be finalized.

Since we’ve been dutifully paying our estimated taxes assuming we wouldn’t get the credit this year, we’ll probably be able to skip our Q4 tax payment altogether, and we’ll likely end up with a refund after we file.  This is amazing news, because in all the years we’ve been self-employed, we’ve never had a refund.  Most years, we’ve ended up owing more on April 15th.

Our initial reaction was a collective shout of “Whoopee!”  Once we finished cheering, we started listing all the wonderful things we’d like to do with the money.  There were repairs to be done around the house, holiday and birthday gifts for ourselves and our friends, and maybe even a vacation somewhere.

Then, I had to be the killjoy.  As lovely as repairs, gifts and a vacation sounded, I realized we needed to be sensible.  Windfalls like this don’t come around very often, so we needed to use the money wisely.  After considerable discussion, my wife and I came up with the following ideas:

Emergency Savings – Although my wife and I have managed to save up about $7,000 for emergencies, it’s not enough to sustain our family over a long period of illness or unemployment.  Adding a large amount of money to that account would go a long way towards our peace of mind.  It wouldn’t be a hedge against all disasters, but emergency savings to cover four to six months of living expenses could go a long way to help.

Investment – My wife and I have several retirement accounts each, including 401(k) rollover accounts from past employment, and SEP-IRA accounts that we’ve used since we’ve started our business.  Despite making efforts to contribute to these accounts over the years, we don’t anywhere near enough to retire.  The drop in the stock market really hurt our accounts, shaving off nearly 50% of their value.  It’s tempting to invest a large part of our windfall, so we can play catch up.

Debt Abatement – Since my financial implosion and my wife’s episode of financial infidelity, we’ve made keeping the credit cards paid off a high priority.  Not having any high-interest debt is a great relief, but we still have 27 years of payments remaining on our home mortgage, and another 18 months on an automobile loan.  Retiring the automobile loan would be nice, as it would free up $325 per month that could be allocated to emergency savings, investment, or higher payments on our mortgage.

After carefully weighing all the options, we came up with the following plan:

1.    Pay off the auto loan.  Although the interest rate is fairly low at 5.64%, we decided that paying extra money for the car just doesn’t make sense.  Our savings accounts and investments aren’t doing nearly as well, so saving 5.64% in interest is worth more to us than earning the 1.3% our savings account collects.

2.    Contribute to emergency savings.  Whatever is left after the auto loan is paid off will go to our emergency savings account.  We’ll also redirect our former car payment to emergency savings as well, until we’ve accumulated enough cash to cover at least six months of living expenses.

3.    Invest after the emergency savings are funded.  Although we’ll continue to contribute small amounts to our retirement accounts as we’ve done all along, we are going to redirect the bulk of those contributions to our emergency account.  Once we’ve got our rainy day fund covered, we’ll redirect our old car payment to our retirement accounts.

4.    Accelerate our mortgage payoff later.  Once all our debts are paid off, our emergency account is funded and we are making steady contributions to our retirement accounts, we’ll start adding a little bit extra to our mortgage payment every month.  As the economy gets better, we’ll try to increase this amount in the hopes that we can ultimately shave five to ten years off the life of our mortgage.

Next in series: The Importance of not Counting Chickens

Photo credit: stock.xchng

Or more likely the cost of your subscriptions getting you down… just got the annual renewal for The Economist… $109… Ouch!

I think most everyone has subscribed to a magazine or twelve in their life and while it is much cheaper than buying individual copies on the news stand is it really worth it?

Sigh… another question with a yes and no answer… don’t you just love Grey? There are so many different shades of it.

Being old enough to predate the Internet I remember when magazines were the source of specialized information about just about anything.

The internet hasn’t done away with them though… it’s probably made them more widely available as people read about them on Google and order a sample copy… they might even then subscribe.

There are still thousands of magazines that you will never see on the newsstands and are only available through subscription… and they tend to be the priciest.

I’m sure you can tell me stories about the one you have to subscribe to to keep up with new “whatevers” in your field at work that costs the same a car payment.

Because I am an avid curious reader off the top of my head I can recall subscribing for varying lengths of time to the following over the years… and definitely not all at once.

I still might pick up an individual copy if I see it at the newsstand and it has an article I want to read but I had to start limiting my subscriptions a good number of years ago when I figured out I was shelling out about $50 a month to feed the cat killer (curiosity).

• Gleanings in Bee Culture (I DO miss my beehives)
• American Beekeeper
• National Geographic (still do and have an almost 60 year collection of them)
• Smithsonian
• Discover
• Popular Science
• Popular Mechanics
• Motorcycle Magazine
• Cycling (motor not pedal)
• American Motorcyclist (comes with my membership in the American Motorcycling Association)
• AARP (again comes with membership)
• Artist Magazine
• Watercolor Magazine
• Sail
• Latitudes and Attitudes
• Wooden Boat
• Restaurant News
• Confectioners Magazine (trade publication)
• Manufacturing Confectioner
• Food Arts (still get…its free)
• Gourmet
• Cuisine
• Chocolatier
• Tea Time
• Bon Appetit
• Vegetarian Times
• Stylus (pens)
• Ornament
• Bead and Button
• Rock and Gem
• Lapidary Journal
• Time
• Newsweek
• US News and World Report
• UTNE Reader
• The Economist
• The Mother Earth News

Gay Themed:

• Advocate
• Monk
• Frontier
• Gay and Lesbian Review
• White Crane
• RFD
• Passport
• OUT

At one point I literally was subscribing to a dozen different ones… but then I was a college student and the student discounts made them really cheap… maybe $10 a year each or around $10 a month.

Contrast that with today. Most monthly magazines are in the $25 to $30 a year price range so even a few subscriptions can run into big money.

I’ve pared down to about 4… National Geographic at $45 a year.

American Motorcyclist comes with my annual membership in the American Motorcyclist Association but that includes free towing and a whole list of other benefits for around $30 a year.

AARP Magazine comes with the $15 annual membership in the American Association of Retired Persons… and they seem to think 50 is a perfect age for you to be considered “retired” and thus eligible to join.

The Economist though is the biggie… 50 issues a year and $109 for the subscription but it’s the one I really read from cover to cover every week.

Food Arts is still Free.

Because of the high cost of The Economist (not really at just over $2 a copy but it does add up) I’m still spending about $15 a month overall on subscriptions.

Because I don’t really need them for other than entertainment I just have to put them down as part of the entertainment budget.

But what do those of you do who have to get something specialized and therefore pricey?

And do you find yourself with more magazines than you have time to read?

Is it one of the those little “leaks” in your budget where the “I don’t know where all the moneys gone” bubble floats back up?

Photo credit: stock.xchng.

I was astounded last week to read statistics that show that people ages 16-24 have been the hardest hit by unemployment during the recession. Although a slew of economists are claiming that the recession is over and we’re headed into recovery, the New York Post is reporting that:

The unemployment rate for young Americans has exploded to 52.2 percent — a post-World War II high, according to the Labor Dept. — meaning millions of Americans are staring at the likelihood that their lifetime earning potential will be diminished and, combined with the predicted slow economic recovery, their transition into productive members of society could be put on hold for an extended period of time.

And worse, without a clear economic recovery plan aimed at creating entry-level jobs, the odds of many of these young adults — aged 16 to 24, excluding students — getting a job and moving out of their parents’ houses are long. Young workers have been among the hardest hit during the current recession — in which a total of 9.5 million jobs have been lost.

One of the reasons that unemployment among young people is so high is that many of those entry-level jobs are going to “adults.” There were several news reports over the summer that places like Sea World and other theme parks, which typically rely on high school and college students to run the joint, were hiring more and more seasoned workers this year. In the past, someone with a BA in English might be unlikely to apply for a job picking up trash at Six Flags, but this year that’s a desirable job.

I think both the Democrats and the Republicans have a big problem on their hands. This generation turned out in record numbers to vote last year. Yes, health care reform is important. But as both parties pander to the retirement-age voters, this generation of unemployed voters is likely to remember their economic struggles for a long time to come.

Photo credit: stock.xchng

Happy Saturday everyone! It’s a beautiful day and I’ll be spending it the best way I can think of…doing homework. Ok, that’s totally not the best way I can think of (a bike ride would be way better) but apparently being a grad student takes a lot of work. Who knew? Of course, there’s always time for the roundup.

• Mawlynnong has been touted as the cleanest and most environmentally conscious city in India. Check out how they pulled that off here. (Read it at BBC)
• An AIDS vaccine is showing some success in Thailand. (Read it at NYTimes)
• Today is Museum Day! That means free admission to hundreds of museums. (Read it at Lifehacker)
• Listening is one of those important little skills that can substantially improve your business and personal relationships. Here’s are some steps to improve your listening skills. (Read it at Dumb Little Man)
• Being an conscientious shopper doesn’t have to mean you go broke. Here are some tips to save green when you shop green. (Read it at Wise Bread)
• Looking to take the next step to get on track with your finances? Trent does a round up of eleven books that rise above the rest. All you need is your library card. (Read it at The Simple Dollar)

Queercents Flashback: Speaking of taking the next step, Helen has great way to ease into investing with the Three Minute Portfolio.

Photo Credit: Elizabeth Byrne

My grandfather grew up during the Great Depression and though I have very few memories of him–he died right before my thirteenth birthday–I remember the stories. Someone told a story at his funeral about how his mother would scrap the insides of egg shells with her finger just to make sure she got all the egg out. My uncle, who is a master builder, recounted how, when building a porch for him, my grandfather would have him straighten out bent nails with a hammer so they could be used again. One year, he gave my aunt a can of dented, generic peas from the grocery store, partly as a joke and partly to teach her that it wasn’t necessarily the package but the product that mattered and to save where she could.

The most prominent stories for me though are the countless examples of what we called “The Bob Gene”, because the family referred to my grandfather simply as “Bob”. Clearly influenced by growing up during the Depression he was unwilling to let anything go to waste. If he noticed someone throwing away something good or useful, he would salvage it and put it to good use. Over the years my mother has teased me for inheriting this gene, but if you want to save money (and resources, and the environment…) it’s a good habit to cultivate. Even as a high-schooler, I was making my grandfather proud, rescuing an arm chair and a futon from a dumpster. My father often encouraged this habit by pulling over to check out what people were throwing away. Though furniture is one of the more common things to find, kitchen appliances are my new favorite grab: often old but functional appliances don’t fetch enough to sell but still work. My roommates now even alert me if they see something while they’re walking that they think I might like.

Curbside collecting like this can often have bad associates but with a good scrubbing, vacuuming or otherwise cleaning often you have a perfectly functional item for the fantastic price of free. And though my mother and sister have habitually teased me for it, I love the sense of history my objects had and the sense that if my grandfather were here, he’d be proud.

If you’re interested in dumpster diving and free cycling, Dawn has some great posts on it here and here.

Photo Credit: Stock Xchng