photo credit: mrpattersonsir

The 700 Billion bailout plan is not enough to help struggling American’s save homes currently facing foreclosure notices. In some instances a couple may be living paycheck to paycheck and one minor hiccup can derail the family finances. A hospitalization, a reduction in work hours, or increased expenses could mean the difference between shelter and homelessness. Many large institutions that are labeled “too big to fail” have the U.S. government to help when investments go bad, who can you turn to when you hit a rough spot in your family finances?

Your friends are hurting and feeling financial devastated right now. You want to help, but don’t know how. Should you offer to help them in some way as they are having mortgage paying issues? Solving a families money problems with more money may not be the best solution. How can you help friends who are facing a financial nightmare?
Here are free creative ideas to help friends facing foreclosure or bankruptcy:

1. Date night. Offer to watch your friends children while they have a date night. I’m not suggesting you promote going out to Ruth’s Chris steak house and a concert. You can offer to watch their kids at your house and let them have a night to catch-up. No strings attached and you shouldn’t probably assume they will talk about money issues. It’s just a good opportunity to have them talk again.

2. Recommend financial counseling. If your friend was ill or needed surgery, I’m sure you would recommend a good doctor that they could contact. Since a home foreclosure or bankruptcy is a serious financial emergency, see if they would be willing to talk with a professional. Many local cities and counties offer debt counseling services. Also, if you attend a church you can see if your pastor has access to Good Sense Ministry, Crown Financial Ministries and Dave Ramsey church programs. These courses are free at many churches and can offer ideas to help create a budget and track and cut expenses. I have taken the Good Sense Ministry coursework and while much of the information is very easy to understand, you can implement changes overnight. Tracking your expenses daily will open your eyes to where your money is going. The most important aspect of any of these seminars is open communication between spouses and a willingness to try something new with your finances.

3. Listen to your friend. Talk is cheap and free advice is still free. Listening to a friend who is going through a financial disaster like a foreclosure or bankruptcy can be priceless. You might not have the answers, but offering to listen to your friend in need could be the most important thing they need right now. The hard part is going to be listening, as you probably be tempted to give advice.

4. Cook a meal for them. If money is tight for your family as well, you could offer to fix them a spaghetti dinner or have them over to your house for a combined family meal. This will allow you to talk more and show your support through the financial crisis. A healing meal can be a wonderful blessing to your friends.

5. Recommend a professional. Do you know how to work with your lender and get months added to your mortgage? Do you know what letters to write your lender if you want to extend your foreclosure process? A great, not good, but great realtor or mortgage broker could assist your friend with this information. They have the industry knowledge and could keep your friends in the current home for a few more months. This could also allow them to negotiate the loan terms and keep the home too.

6. Miranda at Yielding Wealth suggested a coupon competition to spark a healthy competition with your friend to try and save as much money as possible. Could you save over $100 a month on your grocery bill? You could also swap coupons or trade coupons with your friends if you don’t purchase a particular item or brand.

7. Buy heating oil in bulk with your neighbors and negotiate a lower price. If you need to purchase heating oil this winter Greener Pastures: Personal Finance suggests helping neighbors save money by buying oil together.

8. Laurel Plum suggests helping friends declutter and sell unwanted items on ebay or craigslist. Laurel has a lot of great info on here website as she specializes in helping people organize and declutter.

9. FruGal emphasizes listening to your friend facing a bankruptcy or foreclosure and also offering to drive kids to school. A carpool to school or even offering to pick up your friends children from soccer practice might give them a little break.

10. FFB recommends calling up a creditor or mortgage company and asking to negotiate the terms of your loan. Can’t hurt when facing a bankruptcy or foreclosure. I would be surprised if they said “no” flat out and wouldn’t be interested in working with the person. If the mortgage lender could add a month or two to the loan, that could help a friend save a home.

11. Jennifer has a wonderful idea to offer and help your friends pets. Pets can be impacted by a foreclosure and might have to be surrendered to a local animal shelter or adoption agency. If you have the room or yard, you might want to consider offering to house a friends pet.

12. Susan suggests watching a friend for signs of stress and depression. Offering to talk, listen, and finding medical help if necessary. She also shares how a prepaid phone card could help a friend in need. This could allow someone to stay connected and negotiate with lenders, creditors, and even a realtor.

13. Sean suggests the Drugstore Game found at Chief Family Officer that can help reduce expenses for pennies on the dollar. Great tip!

Do you have a creative free idea that could help your friends through a financial disaster? Leave a comment and I’ll add it to the list above.

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Want to make your neighbor think you deserve the citizen of the year award?  I just received a letter from our County Tax Board and they are going to lower my tax assessment for the 2008-2009 period by $1,500.  I don’t plan on keeping this news to myself and have already started calling friends that live nearby.  I live in California and the sluggish real estate market has caused housing prices to fall between 20-35% is some areas.  The letter I received from the county tax collector stated that the property values are reassessed in January of each year.  The sad, but realistic outlook is my property tax bill may decline again next January due to housing values.  Housing continues to struggle with two foreclosures around the corner from my house.

What can you do if you think your property value has decreased? Call your county tax board and tell them your property value has decreased from the previous year.  You will be asked to document your home value and provide a letter to the county tax board.

I utilize Zillow.com as they have an easy interface that will allow you to search for homes sold within 1-2  miles of your home. Find several homes that sold within the last year and attach them to your letter.

Doesn’t everyone in your county receive a property tax decrease letter automatically? I found that two friends had received a letter, but three did not know what I was talking about. I wouldn’t assume that you would be receiving a tax break this year and you should be proactive and contact your local property tax agency.

Will the special county assessments be decreased as well? I reviewed my 2008-2009 property tax bill and noted that the special assessments for emergency services, city lighting, storm drains, mello roos, county trails, and 911 remained the same. I would call you county tax office and find out if your special assessments would be impacted by your decreased real estate value.

I don’t like my neighbor so why should I tell him about the decreased property tax letter? Well, if you’re like me, you might need a new fence soon. A common fence shared with your neighbor can easily cost a few thousand dollars to replace. Maybe your neighbor needs new landscaping and always complains that he doesn’t have enough money. Here’s your chance to help him out and tell him about the property tax adjustment.

What to do with your new money? Hopefully you have already budgeted for your 2008-2009 property tax bill so you will be able to put the money in other investments.

1. Apply the tax reduction towards your mortgage. Apply the savings to your principal and decrease the amount owed on your home.

2. Establish an emergency savings account. Dave Ramsey recommends at least $1,000 in an emergency account. You might be more comfortable with more for your families needs.

3. Payoff a car loan or credit card balance.

4. Rainy day fund. Put the money in an ING Orange account or high interest savings account. Do you have a Christmas fund or birthday fund you like to utilize?

5. Start a 529 college plan for your children. You can start with $50 or $100 and start to seed your child’s college fund.

Sending a letter to your county tax board could save you a few hundred dollars and be easier than finding an emergency money source. Have you written a letter to your county tax office? I’m interested to hear what you heard back and if you neighbors are doing the same.

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This weekend I was catching up with a friend and we were discussing what had been happening in the lives of our family over the last few weeks. We talked about school starting back again and how we can’t believe summer is over and fall is around the corner when he mentioned his daughter had lost a tooth. This wasn’t an ordinary tooth, as it had been one that she didn’t want anyone to touch and let her tongue and mother nature do all the work. My friend then mentioned that the tooth fairy was going to deliver a $10 itunes gift card. It didn’t hit me at first, but then I thought $10 and an ipod in the same sentence. We are also talking about an 8 year-old and the thought of paying $10 per tooth and the fact that she already owns an ipod. I didn’t want to ask if it was a nano or an iphone. And yes, I have seen children with nicer cell phones than mine.

When did the tooth fairy index rise from $1 to $10 per tooth? I actually recall receiving 25 cents for a tooth and $1 when I lost two teeth in one day. Does the tooth fairy visit your house? Do you participate and leave these pearly whites from your beautiful children and trade them for $10 itunes gift cards? Since when did the tooth fairy start working for Apple and Steve Jobs? I was shocked and then it made me think what are we teaching our children.

Does $10 seem rational for a tooth? Children typically have 20 baby teeth, which would make for a gift of $200 from the tooth fairy. Looks like losing baby teeth could be a source of residual passive income for children. After reading this, please don’t think I’m serious. But, it does make you think what we are teaching our children about a natural event and income. Do you get paid when your hair turns gray or when your belt size grows? Wouldn’t that be fun.

An ipod for a 7 year-old? When I was 7 I enjoyed riding my bike, reading, coloring, and playing games. Does a 7 year-old have the ability to appreciate an ipod? Would you regulate what songs your 7 year-old plays on the ipod? I guess I better start doing my research on Jonas Brother and Hannah Montana lyrics.

A savings account for your child. Whether the tooth fairy brings $1 or $10 for your child’s tooth, could you utilize this opportunity to teach them about saving money? I remember both of my parents and grandparents telling me to save money for a rainy day or special event. I had a passbook savings account and would enjoy reviewing my deposits after major holiday’s and after the tooth fairy would visit. Yes, we would go to the bank even for $1. If a child receives a $10 itunes gift card they will not have the ability to set any money aside and understand the savings opportunity. In fact, I currently have a balance on my itunes account. I wonder how many people have a balance and forget that they have unused money to spend on songs.

Would you compensate your children for losing teeth? What is a reasonable amount, and would you encourage them to think about saving a portion of it?

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photo credit: ILoveButter

I would like to thank everyone who has left a comment on this post, as your ideas are fantastic! It would be wonderful to see the list grow to 25. If you have a unique idea to make your stuff feel new again, just leave a comment.

My 2002 Toyota Prius is starting to look worn and tired inside and out and it’s only 6 years old. The carpets are dirty with several coffee stains from sudden turns, the paint is a little faded and several french fries are still lodged between the seats. I’ll be honest, the temptation to take it to the Toyota dealership and trade it in for a new 2009 Prius does exist. Does it make financial sense to trade-in a perfectly good 2002 Toyota Prius with low miles and HOV stickers for carpool lane for a brand spanking new $25,000 2009 Prius? Nope.

My front lawn never looked lush and green this summer as it never recovered from my daughters 4th birthday party bouncy house. Back in February we rented a princess jumpy house with our neighbors and celebrated two birthday parties on our front lawn. It was rainy and wet and the weight of the bouncy house was too much for my front lawn to handle. It’s a small lawn and I wondered if now is the time to rip it out and put in new sod? It would only cost $400 to have new sod put down. Did I do it? No way!

It’s tempting to buy new cars or replace items around the house, but how can you make your older car or house shine like new again. For some items on this list it will take a few dollars to make your stuff shine like new. In the end I think it might be worth it and save you from new sticker shock or buyers remorse.

1. Professional car detail. This is not a frugal option, but still thousands cheaper from buying a new car. Check craigslist or your local yellow pages for a professional car detail center or private individual that has a mobile car detail business. Prices can range from $100-$300+ Sounds like a lot of money, but your car will look and smell new. All those french fries will be removed from between the seats and your carpets will look new again.

2. New diamond ring for your wife. I’m not talking about a new diamond from Harry Winston or Tiffany, but a newer shinny diamond ring. If you’ve been married a few years, your wife’s diamond ring may have some soap scum or scratches in the setting. Make an appointment and take your wife’s ring to your local jewelry store. They will clean and even replace smaller diamonds for very little money. My wife has a very small diamond ring with two small baggetts on the side. For under $100, I had the ring cleaned and one missing baggett replaced. My wife was thrilled to have her ring look new again.

3. 1 hour massage. Want to feel relaxed and energized? My wife and I bough each other a 1 hour massage several years ago, and it was amazing. I’d never had a massage and it was more relaxing than 1 week in Hawaii and a lot cheaper. $50-$100 and you’ll feel like a new person. Extra bonus points if you buy one for your spouse and surprise her/him.

Money Grubbing Lawyer tip: Check your health plan to see if your massage is covered under insurance policy. He also suggests signing up for a couples massage class and learn how to give a massage. Great idea!

4. Paint your front door and trim. Tired of looking at your same house and want a cheap way to make it look new again. Our friends bought one can of Benjamin Moore mocha paint ($45) and painted door and front trim around windows. They left the existing house color the same, but now the house looks like it belongs in another zip code.

5. Curb appeal. Another way to make your house look newer, pressure wash your driveway and front entry. My neighbors replaced the driveway and walkway and spent $10,000. Sure, it looks nice but for $50-100 I bought a pressure washer and made my cement look new again.

6. New dining room table. Replace table chair seats and change the look of your dining room with new fabric. Visit your local fabric store and buy a few yards of cloth, remove the old and use a staple gun to fasten the new fabric. Total cost $40-$100.

You can do the same for an older couch. Buy a slip cover and change the look of your outdated or old stained couch. If you have kids, you know the look I’m talking about. A new slip cover can range from $50-$150 depending on brands.

7. Paint a wall. Want to make some brownie points with your wife and update the look inside? Have your wife pick out a color and paint one wall with this new color. She may just love the new accent wall color and you don’t have to paint the entire room. Maybe she likes red or mocha, whatever it is will change the look of the room and make it look new. Cost $25-50

8. New toys for your kids. This one is easy, fun, and it works. If your child has several favorite toys and they are younger, put one of them away in storage for a few weeks or months. You can introduce the toy back to them and they will get just as excited as the day they opened it. We have done this with a train set for my son. He received another smaller set and we put a bigger one up in storage. One day we brought the train set down and he jumped up and down and ran around the house in excitement.

9. Fertilize your lawn. Don’t buy new sod or seed, try a good fertilizer first. You can buy name brand like Scott’s turf builder or you can buy generic ammonium nitrate for $10. Follow instructions and you will have a front lawn that rivals those on Sunset magazine.

10. Hire a gourmet chef. My wife received a gift certificate for 10 meals to a company called Sous kitchen where you prepare fresh family meals. They were recipes that we would never cook ourselves including some meats we have never even tried. I recall having a shepherds pie that was amazing. These can range in price considerably $50-$200, but are cheaper than eating out and will also help inspire your next grocery store list. You can freeze the meals and break one out when you have nothing else to eat, or you crave going out to eat.

11. Free From Broke tip: This one is free and only requires some elbow grease. Spend the weekend removing clutter from garage, office, and house. This would be a great spring cleaning project that would make your house feel larger.

12. Anthony’s tip: Have your old leather shoes polished and make them shine like new again. Great idea! I used to go to Nordstrom and have them shined for a couple dollars.

13. Miranda’s tip: Another way to relax. Get a pedicure. This is probably a cheaper alternative to a massage. I’ve never had a pedicure or a manicure. Has your husband?

14. Tyler @ Building Camelot suggested: Hiring a maid service to help clean your house. A cheaper alternative would be to have a maid service come every few months to do a spring cleaning special. It would be a nice treat to have someone give some extra shine to the floors and cabinets.

15. Asithi’s tip: This is another free idea. Wash curtains, tennis shoes, bath mats and make them shine like new. I used to wash my tennis shoes, but since I play a lot of tennis I usually wear out the soles first. This would be a great idea for shoes that still have lots of life left in them.

16. Mrs. Micah suggests polishing items in your house. If you have collectibles or even a coffee table lamp. A good dusting and polishing can make them look new again.

17. Laurel Plum’s tip: Take a workshop or seminar to acquire new trade skills. Base and crown molding come to mind and this can really make a room look fresh and new. Once you learn the basic miter angles, you’re all set and can replicate most cuts in a standard size room.

18. Virilitas has a great tip that will be a sure way to give you the extra jolt you need to clean your house or finish a project. Exercise.

19. LoriAngel suggested working with your existing clothes to create a new look. Lori recommends tailoring your favorite skirt, layer shirts for a different look, and work with existing accessories like belts and scarves. This sounds like a very creative way to stretch your wardrobe budget and give your clothes a fresh new look.

20. Prime Time Money suggests cleaning out your wallet or purse and organize your receipts. I’m guilty of keeping receipts and even expired insurance cards in my wallet. I also found a home depot card worth $50 that I forgot I had.

21. Laurel Plum had another great idea to move furniture around and trade small accessory items to change your color scheme. You might be able to trade smaller items at a consignment store and it would introduce a new item to your room.

22. RetiredAt47 suggests buying a slip cover for your older couch. Refresh the look of your living room or family room couch. Also, another idea to repaint to freshen a room.

23. Sasha at Debt Free Saver has a very frugal and cheap idea to buy new dish towels for your kitchen or bathroom. The new color will make your room look fresh and clean.

Do you have a tip you’d like to share that has given new life to your old stuff?

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photo credit: Ben Fulton

When you think of playing tennis, you might think of grass courts or expensive country club memberships in exclusive gated communities. Tennis doesn’t have to be expensive to play and it can be a frugal or cheap sport for your family to enjoy for years. Public tennis courts are found in every community and offer local residents a free exercise option for families. Many resources can be found for discount tennis gear and you can even visit your local Salvation Army or Play It Again Sports for cheap tennis items. If you’re new to tennis, these stores will help you get a decent tennis racket for very little money. Tennis can be a cheap sport and $30 is all it takes to get started.

1. Tennis racket Expect to pay $20-100+ for a good racket. Your local Goodwill or Salvation Army will be a great source for sub $20 rackets. You might be surprised what you’ll find there. If you’re willing to pay $30+ you can find dozens of rackets to choose from at any local sporting goods store. I have purchased a Wilson N Code tennis racket from Costco for $49.99 and it’s light and plays just as good as a $100 racket. Also try Target, Walmart, Sport Authority, Big 5, and Dicks Sporting Goods for tennis rackets. A little know fact about tennis rackets that could save you money, most stores offer free trials. Before you buy a racket, you can ask for a demo. This can be very helpful if you have been playing tennis for a few years and are ready to upgrade your current racket.

2. Tennis Balls Free to $3.00 You will also need tennis balls and Wilson and Penn both range from $2-3 a can. My best deal for tennis balls are from Target. You can purchase a 4 pack for $7.99 If you are new to tennis, you might be lucky and find some slightly used tennis balls left at your local tennis court. Many players use one can and then either leave them or throw them away. Also look in the bushes around the tennis court and you could find some great tennis balls with plenty of life left in them. If you are new to the sport of tennis, a can of tennis balls will last for weeks or months depending on your playing style.

3. Tennis Shoes Free to $90 You might be able to play tennis with the current tennis shoes you already own. You want to look for a non-marking sole and be sure to stay away from using a running shoe. Many running shoes have a black marking sole that is soft and might make you slide while running on the court. Most tennis shoes are considered cross trainers and will let you play multiple sports safely. If you’re not sure, visit your local shoe store and ask. You don’t need to buy the latest Nike Air Vapor V Roger Federer shoe to play tennis. Save the $90. What you do need is a comfortable shoe with good support. I currently use a Wilson Advantage tennis shoe and paid $29.99 from Sports Authority.

4. Shirt and Shorts Free to $100 If you want to look stylish on the tennis court like Serena Williams or Maria Sharapova, you’ll need to spend at least $60-$100 for that Nike outfit. If you want matching Nike shoes and socks, and that could add up to $200 very quickly. Most recreational tennis players enjoy wearing a simple t-shirt and shorts. No need to go out and buy expensive clothes, as it won’t do anything for your tennis game. Save your money for a nicer racket and some new tennis balls.

5. Sunglasses $10+ Get a good pair of comfortable sunglasses that fit well. You’ll be running, jumping and serving and you want a pair that are snug on your face. The first time you try and serve into the blazing sun, you’ll be glad you brought your sunglasses.

6. Hat or sun visor $5+ Even if you already have sunglasses, you might want to keep your face covered from the suns rays. Be sure you have some good sunscreen as well when you play.

7. Tennis items and accessories $2-10 Tennis grips range from $2-5 and will help keep your racket handle dry and your hand from slipping. If you find that your hand sweats or you feel like you might throw your racket while hitting the ball, you might want to consider purchasing some grip.

Sweatband and headband $3-$10. Again if you are prone to sweat excessively or you don’t want to wipe your hand on your t-shirt, you might want to consider purchasing some sweatbands.

Additional tennis resources:
Tennis.com
ATP Tennis
US Open
Tennis How To Play
Wii Tennis
Scoring tennis and rules
Federer Tennis Official Site
Roddick Tennis Official Site
New Haven Tennis
Tennis Andy Murray Official Site
Pro Tennis Bag
Virtua tennis 3
Tennis Agassi
Tennis Blake James Blake official website.
Tennis Sharapova Maria’s official website

I’m looking for a tennis blog. If you have one or know of a tennis blog, please let me know. I would be interested to know what sport you enjoy playing as a family. Is it cheap and do you get a good workout?

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