Spring has Finally Sprung

After a very long and tough winter here in Pennsylvania, we are all very eager to see green grass and the beautiful of the rebirth as spring arrives with the trees regaining their leaves and new life as plants begin to bloom.

A few weeks ago, with more than a foot of snow on the ground, I purchased flower and vegetable seeds.  It gave me a few moments to smile as I looked at the brightly colored packages and dreamed of the warm day when I would see a garden full of vegetables, herbs, and flowers.  Since then, I have continued to plan and research in anticipation of the day that I can reap the first fruits of my efforts.

Gardening has been a hobby of mine for many years, and is a great way to get some exercise while creating a magnificent garden for viewing and eating.  Seed packets will cost less than $2.50.  For about $2, a four pack of most vegetables can be purchased and planted in your garden.  Both will yield more than the minimal investment of for the seeds or the starter plants.

To start your garden, you need to know when the last frost normally occurs and in which plant hardiness zone you reside.  This is just one of many zonal hardiness maps available online where you can enter your zip code to determine the zone in which you reside, a major factor used to determine what plants will thrive in your location at planthardiness.ars.usda.gov.

As you shop, your local garden centers will carry plants and seeds that are appropriate for your local zone.  If you are purchasing seeds and plants online, then knowing your zone is even more important so your purchases will thrive in your zone.

Another important factor is knowing when is the chance of frost has passed.  Even if the daytime high temperatures are rising, the nights can be cold, and the damage from frost can devastate your garden.  If you plant early, be prepared to either bring plants indoors or cover them to protect their delicate foliage.

To save money, consider starting some seeds indoor in the next few weeks.  Saving the plastic four and six-pack containers in which many seedlings are purchased can be used with good potting soil to sow some early plants that will not need much room to start.  Look around your house for items to use to start your seeds - egg cartons and single serve yogurt containers are just a few things you may have around the house.

For inside growing, a warm sunny window or grow lighting is needed to assist in the indoor process.  Some people prefer to use an outside cold frame greenhouse (created with a few pieces of wood and either an old window or heavy sheet of clear plastic), either starting the seeds in the ground or in small pots allowing them to have the daylight warmth and the evening cool temperatures.

If purchasing your seeds and plants online, select reputable sites.  Burpee (www.burpee.com) has been in the business since 1881.  Their site offers vegetables, herbs, flowers, and fruits in seeds and plants.  Burpee's web site also have a grow calendar at www.burpee.com/gygg/growingCalendarNoZipCode.jsp.

Proven Winners (www.provenwinners) is one of my favorite sites for plants.  I have never purchased their plants online, as the local roadside stands and nurseries where I shop sell their products locally.  I use this site for their container recipes, which show you how to create planters and hanging baskets for their products.

Another useful site for local growing information and a location to take free or low cost seminars is through the Outreach and Extension in your state.  For Pennsylvania, their web site is extension.psu.edu.

A few other things to do in preparation of starting your garden would be to turn the soil while amending it.  A short tutorial for checking your soil is at www.ehow.com/how_2193665_amend-soil.html.  Crop rotation is also important, as well as knowing what crops grow best together.  One site that includes flowers, herbs, and vegetables is www.ghorganics.com/page2.html.

Dreamig of an abundant garden of freshly harvested produce makes me smile!  I am eager to get outside and dig my hands into the soil to start my 2014 garden.  Take a look at your yard, what are you planning to grow this year?

Next month, I'll have some tips for people with limited space like those in apartments and townhouses who may not be able to plant a traditional garden in the ground.

What is a Credit Score and Why Is It Important?

A credit score is a mathematical formula taken from the information in your credit report (check out the February blog for additional information).  The formula used indicates how likely you are to continue to pay your bills based upon how you have paid your bills in the past.  A few of the factors that can affect your score (going up and down) are based upon the number of open accounts you have; how recently you have opened or closed an account; how many times you have paid late on an account.

Each of the three main credit reporting companies have their own scale.  If you wish to know your credit score, you will need to pay a fee to obtain your credit score.  Their score is different than the score by the most respected and widely used organization.  For additional information, go to www.consumerfinance.gov/newsroom/consumer-financial-protection-bureau-report-examines-differences-between-credit-scores-consumers-and-lenders-receive.

A FICO credit score is considered to be the standard in the industry.  Founded in 1956 as the Fair, Isaac and Company, they created a system to examine a person's credit history and create a number used by financial services companies.  To compose a credit score, payment history (35%), amounts owed (30%), length of credit history (15%), new credit (10%), and types of credit used (10%) are combined.  Your credit score is a number based upon a range of different categories:

Excellent Credit:  750+
Good Credit:  700-749
Fair Credit:  650-699
Poor Credit:  600-649
Bad Credit:  below 599

Having a low credit score and keep you from securing a place to live, getting a car loan, and even getting a job.  Therefore it is important to maintain a good payment history. 

There are ways to improve your score.  Paying on time, reducing the amount owed, and keeping the accounts open (closing an account will actually reduce your credit) will allow the number to raise over time.

Another reason for a low score can be someone without a credit history such as a recent college graduate.  Open a major credit card, charge a small amount each month, and pay it off.

To learn more about credit scores, go to the FICO site at
www.myfico.com/Downloads/Files/myFICO_UYFS_Booklet.pdf.

Why is Your Credit Report Important?

With the recent breach at major retailers around the holiday, not only checking you bank statement and monthly credit card statement are important, but so is your credit report.

If you are turned down for a loan or a credit card due to a bad credit history, you can obtain a copy of your credit report to see why.  The company who denies your credit should convey which reporting agency they used for obtaining your credit report.  But being proactive and obtaining your three reports annually will keep being denied credit from happening.

There are many television commercials and web sites that claim to offer you access to these credit reports.  Before ordering, make sure you do not have to pay anything, as most offer a "free" trial period that will quickly expire and then require a monthly credit card fee to monitor your credit history.  By reading the fine print if signing up on a website or with a credit monitoring website, you will know if there are fees to access your credit report and how often you can access it.

In December 2003, the FAST Act (Fair and Accurate Credit Transactions Act) was passed by Congress, allowing you to annually obtain through one convenient source, a free copy of your credit file from the three major credit reporting agencies.  Your TransUnion®, Experian®, and Equifax® reports are available through one place once every 12 months.

Look for the legitimate website at www.AnnualCreditReport.com.   If you do not feel comfortable  ordering online, there are two other options for obtaining your free credit reports.  By telephone at 877-FACTACT or by writing to request a form from Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

All three options will require you to give your name, address, Social Security Number, and birth date.  You will also be required to provide additional information that verifies the agency is communicating with you, and not someone attempting to imitate you.  To prove your identity, you will be required to prove a bill such as your monthly mortgage payment amount or another major reoccurring bill.

Some of the reasons why you should obtain copies for all three companies.

1.  To stay on top of your credit history, obtaining more than one report is necessary.  Different companies report your transactions to the different agencies.  When you apply for credit (borrowing money to purchase a car or home, or opening a credit card, and even applying for a job) the company may only check one of these three sources.  That's why checking all three is so important.

2.  When you are delinquent account is caught up or an account is paid off, it may not be reported the each of the agencies in a timely fashion, allowing it to remain on your report.   If you find anything that is inaccurate on your credit report, you can file an appeal with the agency.  They must investigate with the company in question and update your report based upon their findings.

For additional information about your credit report, check out this government website:  http://www.consumer.ftc.gov/articles/0155-free-credit-reports.

Next month, you can learn more about the importance of your credit score.

Paying the Bill - Now or Later

Now that the Christmas and other winter holidays have passed, take time to double check your bank and credit card statements.  In December, one major retailer had a breech of records and many people found items charged against their credit card or money drained from their bank account.

Constant monitoring of your accounts (online and in paper format) is a safest way to stay on top of potential problems anytime, especially after making major purchases, being on vacation, or holiday shopping.

Here are a few hints for before and after you shop:

1.  Following a budget is paramount when shopping.  Know who you are shopping for and what you are looking for.  Check store ads and web sites for prices.

2.  Many people prefer to use cash.  It can be a good option, and it can be a bad option.  Cash can be stolen and will not be replaced while a credit card or writing a check can offer a safety net.

3.  Know who is authorized to make purchases on the account and know where the card is stored.  One of the safest places for an unused credit card to be stored is in a safety deposit box.

4.  Keep all receipts to verify against your account.  Store them in a simple white envelope until you can justify your monthly statement.
 
5.  Know the timing for when fraudulent charges can be contested against your account.  The sooner you catch something questionable, the sooner the thief loses access to your account.

6.  View your credit report annually (more of this topic next month).


Now is the time to start planning for next year's vacation or holiday shopping.  Set up a "club" account for your vacation or next year's Christmas.  If your bank does not offer this type of bank accounts, open an account at a different bank and do not chose the option of access with a debit/credit card.  This will make the account accessible only when you physically go to the bank to deposit and withdrawal funds.  Make normal deposits into the account through payroll deductions or when extra money is available (birthday, tax refund, etc.).

Having these funds will make the bills easier to "swallow" when the occur.  Then you can enjoy spending this money and not feel the crunch of credit card bills after the event.

Planning Ahead

When I began writing this blog, I never thought I would write an entry like this one.  Many of us are in the "sandwich generation," still raising our own children while caring for aging parents.

The last nine months have been hair raising for me, learning about major life decisions and senior advocacy.  Although this is a different topic, please continue to read, as planning for your own future when you are a senior citizen or through a tragic event such as an auto accident when you need extended care can change your life without warning.

Look at your current situation.  Do you have life insurance, retirement funds, a will, and plans for your life end?  Have you asked your parents about these topics?  If not, planning for your future and theirs is very important.  Although this blog entry may not save you money now, it can save you and your loved ones money and stress in the future.

We all hope that we will remain healthy and live a long life.  Illness and sudden injuries can suddenly change these plans, some leaving a family to cope with a tragic illness or even death and they not know about the wishes of their loved one.

One of the first decisions that needs to be addressed is a will.  Do you have a will?  If you do, when was it last reviewed?  A will permits your loved ones to how you want your estate to be distributed and if you have children who should care for them.  Not having a will leaves these decisions to the state.

Another major item to consider is life insurance.  As you experience life changes (marriage, children, retirement, etc.), you may require more or less insurance.  Term policies are in effective for a set number of years at a set premium.  After the end of the term, the policy can remain in effective, with a large increase in the premium.  Other policies like whole live and universal life can build a cash value while still providing protection.

Another form of insurance is long term care.  When someone needs extended care after surgery or an illness, they can require extended medical care.  All nursing homes and rehabilitation centers are not created equally.  Having long term care insurance and advanced directives can assist your family in these tough times.  To learn more, check out www.pahealthoptions.com/docs/LongTermCare.pdf.

Start by planning now before you or a loved one needs special care.  If time permits, go to the facility to check it out yourself and speak with others who have a recent experience.  Go to Medicare.gov to look for information on hospital, nursing home, and rehabilitation centers.  It can be shocking to see how local facilities are ranked.

Talking to loved ones about the end of your life is not a comfortable topic.  Let them know if you have a living will (and giving it to your physicians) or are listed as an organ donor on your driver's license allows the decisions you have made to be known.  In a time of an emergency, these difficult decisions may be left to your family.

Have you purchased a cemetery plot or preplanned your funeral?  Some of these decisions can be made now, saving your family money and the necessity to plan while they are grieving.

Finally, let family members know which attorney holds your will, the names of your financial planner and insurance agent, and any other necessary decisions on what type of care or final plans you want if you suddenly become ill or before you cannot speak for yourself.

Discounts

We all enjoy keeping money in our own pocket.  Recently, I learned more about asking for discounts while renewing our cell phone contract.  Our company gives a discount if the main account holder is a current and former military member.  Then we learned that my husband's employer is on the list of employers who also receive a discount.  His employer's discount is at a higher percentage than the military discount, so we applied for that discount and received it.

When shopping, ask what discounts may apply.  For most, you will need proof in the form of a membership or ID card; your driver's license; or for others, there may be paperwork to complete.

Discounts come in many forms, including military, employer, based upon your age (including AARP membership), and fraternal or other groups.

To prove a military discount, either a military ID or a DD214 form will be required. 
A list of discounts is available at:
http://frugalliving.about.com/od/bargainshopping/a/Military-Discount-Directory.htm  In Lancaster County, PA the Recorder of Deeds Office offers a discount card called Thank a Vet, with more than 100 local businesses offering a discount.  Check out their web site for additional information on how to obtain a card at http://www.lancasterdeeds.com/vet_discount_program/. 

From my background in education, I know that some businesses give a discount to teachers.  Many times it is for benefit of their career.  If you belong to a union or a professional organization for your career, check their web site or ask your group's president about their knowledge of discounts.  Your work ID may be an acceptable proof to receive a discount.

Someone considered a senior, which can be range in age may receive a discount due to their age at a wide variety of businesses.  Although the age can vary from 50 to 55, to 60 to 62 to 65.  Proof is easily given with your drivers license.  Anyone over the age of 50 can join AARP for a small annual fee.  Discounts for age people age 50 and older can be found at: 
www.seniordiscounts.com and http://frugalliving.about.com/od/frugalseniors/a/Senior_Discount.htm

If a discount is given to a fraternal or other group, a current membership card would be proof of membership.  Check with the group, as they may be able to direct you to locations that will accept your membership card.

Spend time searching a company's web site or call their toll-free phone number to research discount programs.  Just searching the word "discount" may not locate the information.  Try discount program, discount eligibility, or other similar terms when searching.  You may also want to call their toll free number to ask if a discount is offered or where to locate it on their web site.

Vacation locations may offer discounts to draw tourists to their stores and restaurants.  When planning a vacation, check with the tourism web sites.  You may need to pick up a discount card at their welcome center location.

Some general rules of thumb regarding discounts:

• Most discounts aren't publicized - you need to ask.
• A valid ID is usually required.  Most discounts only apply if you have a card that proves you are a member, including a Military ID or AARP card.
• A discount may vary by location.  Some franchises leave discounts at the discretion of the owner or manager.
• A discount may not be the best bargain.  You may be able to find better deals by shopping around (airlines, hotels, and travel are good examples of times when shopping around may lead to bigger savings).  It's worth spending the research time if it is a major purchase.
• When booking a hotel or rental car, the discount may need to be applied in advance.  Remember to ask or if booking online to look for a field to enter information.
• Discounts are a blessing, not a right.  Discounts are offered out of kindness and respect.  Thank the sales person who gave you the discount.  Let them know you appreciate it.

Remember, if you do not ask, you will not receive.  Although many places do not offer discounts, many do and do not advertise it.  You will never know if you do not ask.

Selling from you Garage, Porch, or Yard

Hosting a yard, porch, or garage type sale can be very daunting due to all that is involved.  With some good thought, it doesn't have to be daunting if you start early and get other family members or friends involved.  If you want to make money, you will need to spend a little money to do so.  It takes an organized person, willing to spend some time to plan, advertise, organize, and lay out the merchandise.

1.  Plan

• Know the restrictions placed upon sales by your municipality and homeowners association.  Some allow sales during certain time periods or may limit the number of sales.  Do you need a permit to host your sale?
• When in the year will you host your sale?  Depending upon where you reside in the country, think about normal weather conditions.  Look at your families schedule for conflicts like sports, jobs, or other activities keep you busy and unavailable to host a sale.  If there is a major event in your town, more people will be in your neighborhood.
• Involve neighbors or friends in the sale.  Larger sales can bring in more shoppers.
• If your residence is not an appropriate place to host a sale (i.e. on a hill), is there a local organization hosting a sale where you can rent space?
• Gather supplies you will need to advertise and set up the sale.
• Determine the date(s) and time period for the sale.
• Just before the sale, go to the bank and have ample money available - $100 in smaller bills and coins.

2.  Advertising

• Traditionally people search their local newspapers.  Look into the requirements a few weeks in advance and look at other people's ads for ideas.  Create your ad and following time deadlines for submission.
• Purchase bright colored poster board and a black Sharpie marker to make signs.  You want people driving by to be able to read your sign.  Make the lettering large and simple.  Each sign should include an arrow, date and time.  Place them at key intersections near your home on the Monday before your sale, unless there are restrictions set by your municipality or homeowners association.
• Print fliers to place at local stores on their bulletin boards.
• Consider posting your sale on the Internet.  Look at sites for other sales in your area.  Again, look at their requirements as to the size of the ad and number of photos you may post.  Some popular sites include:
•   Craigslist.com
•   yardsalesearch.com
•   yardsales.net
•   yardsales.com
•   garagesaletracker.com
•   yardsaletreasuremap.com
•   garagesales.com
•   garagesalehunter.com
•   yardsalequeen.com
• As a common courtesy, take down all signs after the sale.

3.  Organize

• Designate a location for gathering sale items - have boxes or shelves available to start sorting.
• Taking one room at a time, look around your home and decide what items are not being used, are outgrown, or no longer needed by you and your family.
• Make sure the item is clean, all pieces are there (use a plastic bag to gather small pieces), and if damaged make note of it.
• When you transfer items to your temporary storage location, place similar items together after pricing them.  Be careful when placing tags on items that they will not damage the surface.
• If other people are sharing your site, place your initials on your price tags.
• Expect people to ask for a lower price.  If your price is firm (not willing to go lower), note that on the price tag.

4.  Lay Out

• Think of your sale as a store, what would help draw people into your sale?
• Place like items together such as kitchen items; clothing arranged by gender and size; furniture; etc.
• Overcrowded displays are not appealing.  Because your sale is competing with others, people will spend time looking through boxes or piles of items.
• Electrical items should be placed near the building with an electrical cord available for testing.
• Keep the money with you.  Most people are trustworthy, however some are not.  If you are distracted by showing someone an item, your money box could be left unattended.

With some key points covered, you can have a successful sale and line your pockets with some extra money from items you no longer want or need.