Category: Credit 101

June 25, 2021 Marcus Terry 0 Comments

The post How to Still Pay Your Bills During a Layoff or When You Miss A Check appeared first on Penny Pinchin' Mom.

More than 800,000 Americans are currently affected by the government shut down. And, while it would make sense to force our congressmen and senators to also not get paid during that time, it just won’t happen. Even though you may not be working and getting a paycheck, it doesn’t mean the bills stop.  You still … Read More about How to Still Pay Your Bills During a Layoff or When You Miss A Check

The post How to Still Pay Your Bills During a Layoff or When You Miss A Check appeared first on Penny Pinchin' Mom.

June 25, 2021 Marcus Terry 0 Comments

Substitute egg separator

When you need to separate the egg white from the egg yolk, here's an incredibly simple way to do it. Crack the egg into a bowl and grab an empty plastic water bottle. Rest the mouth of the bottle on the yolk and squeeze the middle of the bottle like a turkey baster. The yolk will be sucked right into the bottle. Watch a video of this here.

Make your own turkey baster

Speaking of turkey baster, you can make your own with a water balloon, a straw, and a utility knife. (Read this article from eHow.com for step-by-step instructions.) MacGyver would be proud.

Free trussing twine!

If you want to truss your turkey—i.e., tie the wings and legs of a bird down for more even cooking—you don't need to buy trussing twine. Use dental floss! Not only does it come in a small container, it’s very strong and won’t burn in high heat.

DIY trivet

If you have extra ceramic tiles left over from a home improvement project, you can use them as trivets. Protect tables and countertops from hot pots and dishes by affixing peel-and-stick felt corners underneath each tile. 

SEE MORE: Domestic CEO's How to Stock a Kitchen

Cooling rack stand-in

Keep your cool during holiday baking days. When you’re covered with flour, have no idea where the kitchen table used to be, and just pulled the fifth blisteringly hot tray of gingerbread men out of the oven, simply flip over cardboard egg trays (you’ll need two, spaced a little bit apart) and set the baking pan on top.

You can also use butter knives for cooling racks: Place them in rows on your counter, alternating directions. They'll keep hot baked goods elevated.

DIY bowl scraper

Have you ever seen those bowl scrapers in kitchen stores that sell for $3 to $10? These circular, plastic tools are easy to make at home. Simply take the lid of a round take-out container, cut it in half, then remove the rim. Instant savings!

Substitute rolling pin

If you're in need of a rolling pin, look no further than that bottle of vodka you have in your freezer. The chilled glass will result in a flakier pastry. Even a wine bottle will do.

Who needs cookie cutters?

Rather than buying a biscuit cutter or cookie cutter, use a wine glass or a clean, empty aluminum can. If you're making donuts, use the mouth of an empty water or soda bottle to cut out the center hole.

A simple flour sifter

Julia Child probably used a flour sifter while preparing fine pastries, but you can keep things simple by putting a mesh colander over your mixing bowl, filling it with the needed amount of flour, and gently tapping or shaking it until the flour sifts through. You can use this for powdered sugar as well.

RELATED: Nutrition Diva's Keep Your Kitchen Germ Free

Replacement pastry brush

An unused toothbrush is the perfect substitute for a pastry brush. A paper towel will also work in a pinch!

Easily make a funnel

If you have aluminum foil in your kitchen, you don’t need a funnel. Simply fold a sheet of foil in half width-wise and roll into the shape of a funnel.

You can also use an “egg shell with a hole pierced in it” for a funnel, according to the book Thrift for Troubled Times, published in 1917 by Britain's "National Training School for Cookery"!

Tenderize meat without a mallet

An unopened can of beans or vegetables makes a great meat tenderizer. Cover the bottom with plastic wrap and pound away on the meat just as you would use a mallet.

Substitute jar opener

You’ve seen those nifty, colorful jar openers in cool houseware shops, but you might not realize you’ve got a bunch of tools that are just as effective lying around your garage or basement. Using an X-Acto knife, slice open an old tennis ball and you’ve got two handy openers—game, set, match! Now pass the olives.

Handy stem remover

Hate grapefruit, and wondering what to do with those grapefruit spoons that came with your set of silver? Use their serrated edges to carve the stems out of tomatoes and strawberries.

CHECK OUT: Who Knew's 5 Essential Tips to Prevent Kitchen Disasters

Make your own juicer

Instead of purchasing a handheld juicer (also known as a reamer) for fruit, simply use one blade from a hand mixer instead. Halve the fruit and twist the blade into it for easy juicing.

Homemade potato masher

The only thing better than homemade mashed potatoes is a homemade potato masher. Interlace the tines of two forks together (the forks should be facing each other) and mash away.

DIY garlic press

The tines of a fork can also be useful for mashing garlic. Just place the tines flat against a cutting board and rub a whole, peeled garlic clove against them.

Replacement martini shaker

Who needs a martini shaker? Instead of buying this expensive bar tool, simply use a stainless steel thermos with a screw-in lid. If there’s no way to close the sipping hole on the top, cover it with your thumb while you shake!

Easy bag clip

Kitchen supply stores sell bag clips to keep your half-empty bags of snacks and cereals more airtight. What's cheaper, and available at the 99¢ store? Clothespins! Or use binder clips.

How to make a utensil holder

If you need a kitchen caddy to hold the utensils you do have, read how this intrepid blogger made homemade utensil holders with plastic Beanie Baby boxes. Who knew?

For more second uses for everyday items, follow our Clever Second Uses Pinterest board! For more great kitchen tips, check out our eBook, Cooking Made Easy, available for Kindle and Nook.

June 25, 2021 Marcus Terry 0 Comments

Chances are you got your third stimulus check months ago, but you may still be waiting on that other chunk of change the IRS owes you: your tax refund.  As of June 5, the IRS is sitting on a backlog of 18.2 million individual tax returns. Many require manual processing, which basically means that a […]

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

June 24, 2021 Marcus Terry 0 Comments

In a recent episode, I shared that I would be doing a 4-part series on divorce.  I’ve been divorced for 5 years now and wanted to share what has worked for me, my ex-husband, and our 8 kids during this time. While divorce is not easy, time does help heal, and when your focus is putting your kids first, it is absolutely possible to maintain a healthy, happy family relationship.

My first episode in this series was 5 Expert-Approved Ways to Talk to Your Kids About Divorce.  My second episode in this series was 5 Ways to Co-Parent with Your Ex-Spouse. 

There really isn’t anything easy about divorce. Thankfully, as I discussed in the first two episodes, there are strategies and thoughtful ways to navigate through some of divorces issues, especially if the two parents are willing to put their personal differences aside and focus on their kids. In addition to the emotional turmoil that encompasses divorce, there is also another difficult component that couples must deal with and that is the financial aspect. 

After 25 years of marriage and 8 kids, Mighty Mommy had to get her financial house in order and make some significant adjustments going from a two-income household to a single income.

Here are four financial considerations, as backed by the experts, to keep in mind if you are thinking of or getting a divorce.

1. Get Your Financial Documents in Order

The entire divorce process is completely overwhelming, and when you begin to delve into the financial ramifications, the stress is taken to a whole new level. Once we began having our small tribe of kids, we decided I would leave my career to be home with our family. During the last 10 years of our marriage I went back to work part-time as a freelance writer but by no means was I contributing significantly to our income. My ex-husband managed the majority of our financial affairs so when the reality of our divorce settled in, I knew the first thing I had to do was get a handle on every aspect of our financial status. I honestly wasn’t sure where to begin, but my divorce attorney recommended I start by gathering all my financial documents.

Maryalene LaPonsie, contributor to USNews.com writes in 7 Financial Steps to Take When Getting a Divorce that “as soon as you know you’re getting a divorce, collect all the financial documents you can.” She continues, by stating that these include:

  • “Bank statements”
  • “Credit card statements”
  • “Tax returns”
  • “Retirement account balances”
  • “Appraisals for valuable items, if available”

In addition, other documents to consider are:

  • Mortgage Statement, including any Home Equity Loans and purchase information
  • Checkbook Registry for the last year
  • Any other long-term debt account statements you may have, including car loans

2. Know Your Income and Expenses

When we began our divorce proceedings, I admit I was far more focused on my emotional state than my finances. 

When we began our divorce proceedings, I admit I was far more focused on my emotional state than my finances.  Because my ex was the one who paid all the bills and the sole provider for most of our marriage, I never worried much about the details of our 401(K) plan, life insurance policies or what our overall assets and debt totaled.

One piece of advice I received many times over was that I needed to know what our budget was so I could begin to realistically know what my living expenses would be. 

Jason Silverberg, CFP at Financial Advantage Associates, Inc. and author of The Financial Planning Puzzle, told me via email: “If there was one singular, most important piece of financial advice that I could offer someone going through a divorce, that would be to understand where everything is and what everything’s worth. Without knowledge of what you own and who you owe money to, you really are going to have a hard time moving forward. You’ll also want to understand all of your sources for income and all of your monthly expenses as well. This will help you have a good handle on your budget to provide you critical understanding, so you can make smart financial decisions.”

He went on to say, “This exercise should be done both prior to as well as after the divorce. This way you can get a sense for how your household budget will operate on one income.” To help divorcing couples realize these figures, Silverberg has created the Personal Financial Inventory (1 page worksheet) inside the Picking up the Pieces eBook.

This exercise was extremely enlightening as I realized exactly where every penny (and then some) was going on a monthly basis. I was also able to gauge how much income I would need to start making in order to support these bills in addition to the child support and alimony payments I was receiving. One important factor to consider with child support is that it will decrease as your children get older, so I had to continually modify my budget based on this decrease. At first, it was overwhelming to see how much money I would need to keep our household running, but when you are armed with the figures and you pay attention to your monthly cash flow, it becomes easier to make adjustments. The fact of the matter is that some of the extra splurges such as frequent trips to the hair salon or buying my kids their usual top-of-the line items like sneakers or sports equipment had to be adjusted to what I could now afford. My kids have had some disappointments in this department, but they appreciated how we were trying to work together as a family-unit so that their lifestyle wasn't affected as drastically as it could've been which balanced everything out.


3.  Consider What Professionals Will Represent You

There are important considerations to keep in mind when choosing which divorce professionals will represent you. Adrienne Rothstein Grace writes on the Huffington Post, 3 Steps to Prepare for Your Divorce, that you must align yourself with the right professionals.  She explains “First, think about the divorce process you and your spouse will want to undertake and ask yourself the following questions:

  • “Is this going to be an acrimonious divorce? Or will my spouse and I cooperate?”
  • “Do I already know about all of our household and personal finances? Or do I suspect that I may be out of the loop on some assets, debts or income sources?”
  • “Do I trust my spouse to be cooperative and forthright?”
  • “Do I have any reason to believe that I will feel intimidated by my spouse during these proceedings?”
  • “Are we both focused on the wellbeing of our children?”

Grace says that “If you believe that you and your spouse will cooperate and will have joint best interests in mind while negotiating, then you might want to choose a divorce mediator or embrace a collaborative divorce. Those options are less costly, more private, and usually result in a more peaceful settlement process. However, if you’re not certain about finances, or cannot trust your spouse to be completely above-board and cooperative, then you might hire a traditional divorce attorney, who will only have your interests in focus while they help negotiate the complexities of your divorce.”

My ex-spouse and I decided to retain individual divorce attorneys. In addition, we also hired a Certified Divorce Financial Analyst, (CDFA) at the recommendation of each of our lawyers, who met with us jointly to give us a complete overview of what our financial future was going to look like. It's a huge wake-up call when you see all the numbers in front of you on paper.  At our first meeting with the CDFA I learned quickly that I was going to have to go back to work, full-time to sustain the home we lived in as well as the upkeep, taxes, insurance, and basics like groceries for our large family. 

It's a huge wake-up call when you see all the numbers in front of you on paper.

If you surround yourself with competent, caring professionals who will guide you through this very delicate journey, you will have made an important investment in your family’s future, financial well-being.

4.  Stay in the Financial Know Throughout Your Divorce

Throughout your divorce, you’re bound to get all kinds of advice from friends, family, co-workers and other concerned individuals that will be looking out for you and have your best interest at heart.  This can be both helpful and draining depending on your relationship with these people.  When I began divorce proceedings, I too received lots of comments and suggestions from well-meaning folks, but I also decided I wanted to be armed with my own facts so I began reading lots of articles and books as well as listened to informative podcasts about divorce, particularly financially-related pieces.

My QDT colleague, Laura Adams, Money Girl, recently did an wrote about divorce in Getting Divorced? Here's How to Protect Your Money. She interviewed Stan Corey, a divorce expert and author of a new book, The Divorce Dance. This podcast had some terrific insight and some of the topics she and Corey cover in this interview include:

  • Different types of divorce proceedings that you can choose
  • The biggest mistakes that can cost you financially in a divorce
  • Why relying on a single family law attorney can be a bad idea
  • Tips for dividing up financial assets the right way—especially when you’re not so financially savvy
  • How to get divorced when you don’t have much money to pay for it

As you continue down the path of your divorce, surround yourself with as much information as you can, so that you will be able to make the best decisions possible for you and your children.

Five years later, I am still watching my financial picture very carefully.  I work full-time and do freelance work on the side in order to maintain my home and other living expenses.  I am extremely grateful that my ex-husband is very supportive of many of our 8 children’s extracurricular expenses, but the reality is I’m responsible for my own financial future so I have learned to be extremely careful with purchases and expenses.

The final topic in this divorce series will revolve around putting your kids first after the divorce.

How have you managed your finances during a separation or divorce?  Please share your thoughts in the comments section at quickanddirtytips.com/mighty-mommy, post your ideas on the Mighty Mommy Facebook page. or email me at mommy@quickanddirtytips.com. Visit my family-friendly boards at Pinterest.com/MightyMommyQDT.

Be sure to sign up for the upcoming Mighty Mommy newsletter chock full of practical advice to make your parenting life easier and more enjoyable. 

Images courtesy of Shutterstock.

June 24, 2021 Marcus Terry 0 Comments

6 Signs Your Personal Finance Software Makes Life Easier Finding personal finance software is easy, because there are countless choices in mobile apps, online programs, and finance software you can run on your home computer. But they’re certainly not equal….

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The post 6 Signs Your Personal Finance Software Makes Life Easier appeared first on MintLife Blog.

June 24, 2021 Marcus Terry 0 Comments

Dear Penny, My mother died in 2006, leaving my father who could not very well take care of himself. My sister had been living in Hawaii, but costs of living there had grown and income opportunities had shrunk, so she moved in with my father in Oregon in 2008 to help him until he died in 2010.  The […]

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.