There are a number of parallels between the worlds of nutrition and finance. On the negative side, people tend to describe a budget in the same terms they use to describe a diet - it's something one goes on, as in, "Poor Brian, he's on a budget." However, as was pointed out in a New York Times article, there are some things we can learn from nutritionists that may help us make better use of our money. For example, Cornell professor Brian Wansink, author of "Mindless Eating," says our environment shapes our behavior. He points to research showing that people tend to eat more if they are served more, assuming that the amount of food placed in front of them is appropriate. To eat less, one simple idea he suggests is using smaller plates. For better control over our spending, we would do well to reduce the amount of spending opportunities placed in front of us, cutting back on the number of e-mail deal alerts we've signed up for with online merchants.
Matt's View
Another way to limit exposure to spending opportunities is to opt out of catalogs and other marketing materials we receive in the mail. Two places to do so are the Direct Marketing Association
and CatalogChoice.org
.
A few more of us plan to celebrate Valentine's Day this year (63% of all adults) than last year (61%). However, the economy is driving down how much we plan to spend. According to the National Retail Federation, those planning to celebrate this year say they will spend an average of $103 on their loved ones versus $123 last year. Not surprisingly, the vast majority of people planning to celebrate Valentine's Day say they will spend money on their spouse or significant other. What may be a bit surprising is that 17% plan to spend money on their pet.
Matt's View
Ah, there's nothing like a heart-shaped chew toy to say, "I love you." Seriously, though, please let me know
how the economy shapes your Valentine's Day celebration this year. In the next issue of this eNewsletter, I'll share the best ideas that combine romance with smart money management--an often-tricky balancing act.
If you're serious about saving on the cost of groceries, you probably already know about CouponMom.com
. But U.S. News & World Report
recently highlighted another good grocery coupon resource--the blog, Frugal Coupon Mom
. Ashley Nuzzo, who writes the blog, scours lots of other web sites and blogs looking for the best deals and then posts them on her blog.
Matt's View
In a related item, those who prefer organic food often find it difficult to keep grocery spending in check. If that's you, here's a great list of links
for organic food coupons.
In the last issue of this eNewsletter I mentioned an ABC News profile of someone who easily persuaded many of his service providers - from his health club to his cable company - to reduce their rates. He simply called them and said, "I need to save some money. I know you get it. Can you work with me?" I decided to give it a try and ended up getting a $20 per month reduction in our monthly phone/Internet bill. More recently I called our cell phone provider to see about a rate reduction. They analyzed the number of minutes we've used each month for the past several months, found that we use well below our allotment (a very common scenario), and switched us to a plan that'll cut our costs by about $15 per month.
Matt's View
Our previous cell plan also charged us for every text message we sent or received. We're not big texters, but getting any additional fees tacked onto our monthly bill was annoying. Our new package includes plenty of free text messages.
For another way to save on the cost of your cell phone service, check out this post
from the blog, "Get Rich Slowly."
