Economic Survival Guide
Holiday Gift Tips on a Budget
It used to be that Thanksgiving ushered in the holiday season, but these days? It’s the minute Halloween is a memory—so that means it’s time to start making our strategic holiday plans. This year, saving money will be more key than ever, so we’ve compiled a few tips to help you enjoy the season without worrying about paying off some huge bills come Jan. 2 . . .
- Hold a White Elephant Party. A White Elephant Holiday party (aka “regifting”) is when you gift something you already own. The key to white elephants is to give the person something they want (family heirloom, your plasma TV) and not stuff that would otherwise be headed straight to the garbage.
- Use Giftcards. I use this tip especially during the holiday season. I put my entire Christmas budget on a Visa giftcard from my bank and once the money is gone, I’m finished shopping. Also works well for back to school.
- Get Coupons. Many of your favorite stores, like Off Fifth, Saks Fifth Avenue outlet, Lord & Taylor, Bloomingdales and Filene’s Basement, offer in store coupons if you sign up for their online newletters. You can also find coupons online by entering the name of the store and the word “coupon” in your search browser to find a long list of sites with coupons for the store.
- Check Online Before Buying in the Store. Use the SKU number (the numbers underneath the bar codes on the price tag) to find your favorite items online for less. Entering the SKU number into Google and a list of sites/stores that sell that item will pop up. Compare prices for the best deal Furthermore, many online discount/off price stores like Smartbargains.com and Overstock.com, are not allowed to use the name of certain designers but will have the SKU numbers listed on the page.
Fashionable Online Auction Sites
Scouring the Web for the best deals is a good idea, especially in this day and age where every penny counts. Independent online boutiques, vintage shops, consignment stores and much more offer prices lower than you may find in the mall, but there’s nothing like an auction! If the opening bid is low, you may get an even better deal. eBay has been the place to go for online auctions for years, and for awhile, we were satisfied. But what happens when you can’t find what you’re looking for? Until recently, eBay’s monopoly on online auctioning was virtually unchallenged. But several competitors popping up on our budget shopping radars are threatening eBay’s domination…
Bonanzle is growing exponentially—members are fiercely loyal to the community and although they sell everything from electronics to antiques, their clothing, shoes and accessories category is one of the largest on the site. The best feature on this site is the real time chat feature, which enables buyers and sellers to directly communicate about the item up for bid. We spot purses, tops, shoes and much more from brands like Steve Madden and Arden B.
We like the categories on Plunderhere, especially the ones labeled “Under $10”, which is conveniently full of cute bracelets and necklaces up for the auction block. The “clothing and shoes” category is meticulously broken down into women’s shoes, women’s casualwear, women’s workwear, and importantly, women’s plus size. We could go on with the detailed categories, but we think you should check it out yourself. Since this site hasn’t quite hit the mainstream yet, you’ll be able to purchase items close to their opening bid—does anyone want a $13 dress?
Kitmeout is another under-the-radar alternative auction site, except this one is just for us fashion lovers. We’re not advocating a high dollar purchase of designer goods in this turbulent economy, but if you’re longing for a pair of designer sunglasses or skinny jeans, check out the merchandise here.
I Do Now I Don’t was founded by a man who wanted to sell his engagement ring. This site auctions off rings as well as earrings, necklaces, and bracelets. The founder explained that the price at which he bought his ex’s engagement ring was marked up—the true value was a lot less. So, you’ll find the jewelry on this website to be true to their value. Whether you’re looking for a gift or just a treat for yourself, check out this site for beautiful, sparkly eye candy.
Did you know Overstock.com isn’t just a simple online shopping site? It also has an extensive auction section. We recently spotted a Coach purse going for 35 bucks with just an hour left in the auction. Hundreds of women’s apparel items all start at reasonable opening bids. The possibility of scoring a designer purse for under $100 or a dress for 20 bucks thrills us—we’re definitely bookmarking this one.
Broadening our online auction horizons can only help our quest in extreme budget shopping. Have a a great style auction site experience to share? Comment below!
The Under $60 Work Outfit
Putting together a great work outfit is always a bit of a challenge, and doing it on a super-trim budget might seem almost impossible. Fortunately, sweater dresses are on trend at the moment, perfectly professional, and can be had for very little at stores like Target (the Merona dress featured here is one of a handful they’ve got in stock right now)—add some look-at-me shoes and cute easy bangles, and you’re good to go. See? Not impossible after all . . .
Merona Boat Neck Sweater Dress, $29.99, Target
Grosgrain Trimmed Pumps, $23.80, Forever21
Hammered Bangle Set, $4.80, Forever21
Haircare Products Under $5
Women care about their hair, period. We get haircuts. We purchase shampoo, conditioner, hairspray, gel, mousse, smoothing cream and much more. Without realizing it, a lot of us spend more on haircare than necessary, and now that the economy is struggling, splurging on the salon’s special $40 hair de-frizzer may not be the wisest decision. However, letting your hair become a bird’s nest because it’s too expensive to care for isn’t wise, either. Our solution? A list of haircare products that’ll leave your hair looking great and your wallet full—they’re all under 5 bucks!
Suave Naturals Shampoo, $3.49, drugstore.com.
Aussie Deeeeep 3 Minute Miracle Moisture Treatment, $3.99, walgreens.com.
Brush Strokes boar bristle styling brush, on sale for $3.99, Sally Beauty Supply.
White Rain Classics hairspray, 99 cents, cvs.com.
Smooth ‘n Shine Polishing Styling Mousse, $3.29, drugstore.com.
Dark & Lovely Permanent Hair Color, $4.29, Sally Beauty Supply.
TRESemme Anti-Frizz Smoothing Cream, $4.79, walgreens.com
Pantene Pro-V Nourishing Moisture Replenishing Mask, $3.99, drugstore.com
Cristophe Beverly Hills Volumizing Spray Tonic, $3.99, cvs.com.
Smooth ‘n Shine Polishing Curl Activator Gel, $2.99, walgreens.com.
The Under $60 Weekend Outfit
What do we love even more than a great budget outfit? A great budget outfit we can pick up with virtually one-stop shopping. This casual weekend look, for example, is all Walmart (seriously!), save the clutch from Asos.com—but, thanks to the Norma Kamali line, doesn’t look like we bought it at Walmart.
Snakeskin Clutch, $24.00, Asos.com
Silver Lizard Print Flats, $7, Walmart
Norma Kamali Skinny Leg Jeans, $15, Walmart
Fab Jewelry Under $10
Cocktail rings, charm necklaces, and chandelier earrings—all jewelry we used to buy when, and only when, we actually had money to spare…right? While we can’t afford any frivolous purchases right now, we can still afford to accent our outfits with trendy jewelry and adorable baubles—by searching a little harder for extremely low prices and style. Whether you have a penchant for earrings, necklaces, bracelets or rings, you can still find something that doesn’t break the bank. Start with our finds—all under $10:
Bohemian ring, $6.50, claires.com.
Amour charm bracelet, $5.80, Forever 21.
Merona mod earrings, $8.99, Target.
Double leaf earrings, $3.50, Forever 21.
Enamel double disk pendant necklace, now $6.99, Old Navy.
White rose earrings, $5.50, claires.com.
Filigree heart necklace, $4.80, Forever 21.
Cubic zirconia pendant, $7.50, Old Navy.
Chunky pyramid stretch bracelet, $8.99, Target.
Jeweled enamel ring, $5.80, Forever 21.
The Under $75 Event Outfit
Most of us can get away with a pretty basic wardrobe most of the time (our red carpet event invitations keep getting lost in the mail, evidently). However, and especially this time of year, the occasional “occasion” presents itself, and we find ourselves scrambling to find something a little more special to slip into. With plenty of family, work, and community holiday events just around the corner—and a budget that’s slim, to say the least—we’ve pulled together this event look for under $75 (and the red satin dress alone looks like it’s worth more than that . . . )
Satin Dress, $39.99, Newport News
Pleated Satin Pump, $12.50, Forever21
Cocktail Ring, $14, Newport News
Botkier for Target wristlet, $4.99, Amazon.com
Total Cost (Before Tax): $71.48
Three Cheap (or Free!) Beauty Tricks
Nobody wants to spend a bundle on their beauty routine right now, and you don’t have to. There are three key ingredients to a healthy, glowing daytime look—great skin, pretty lips, and an all-over kiss of color. Here’s how:
Lip Plumper. While some lip plumping products are relatively inexpensive, they also don’t always work. Save yourself the trouble (and cash) and purchase some cinnamon oil instead (according to beauty expert Diane Irons, the oil brings the blood to the lips for temporary—about four hours’ worth—of plumping). Slick on a little lip gloss or balm for shine. NOTE: BE SURE to dab a little of the cinnamon oil in less visible place first, however, to check for allergies, and wait 24 hours . . .
Glowing Cheeks. Rather than buying sixteen different products for eyes, cheeks, lips, etc., pick up one that’s meant to cover all your bases, like this All Over Color Stick from e.l.f, just $1.49! Or don’t even bother buying something new—repurpose an old pink, rose, or peach lipstick (depending on your preference and skintone) and dab with fingers like a cream blush on the apples of your cheeks (blending well, of course).
Moisturized Skin. We’ve mentioned this before, but it’s sooo budget friendly that we couldn’t leave it out— Vaseline is one of our favorite budget beauty products, and in this case we’re talking about as a skin moisturizer. We all know it’s great for rough elbows, knees and heels, but it’s also hard to beat as a heavy-duty facial moisturizer—smooth it on all your wrinkle prone areas (avoiding oily areas, like the t-zone, depending on your skin) at night, and wake up with super smooth skin. Seriously. (It’s also great for removing stubbon eye-makeup . . . )
The Under $60 Outfit
On the weekends, this time of year, we want to be warm, comfortable, and most of all, stylish, as we’re running errands and hanging out with friends. It’s a tall order, but you can do it for less, and here, we’ve pulled together an easy and totally versatile ensemble for less than $60—we could have done it for even less, but decent boots are rarely under $30, and we figure a great pair of black boots are something that you’ll wear again and again this winter (meaning their cost per wear will likely be minimal). It’s all about value, after all . . .
Pointelle Tunic Sweater, $22.99, Charlotte Russe
Fab Leggings, $4.50, Forever21
Tips for Consignment Store Shopping
Every budget fashionista is familiar with a fundamental fact associated with finding fierce clothes for as little money as possible: Consignment and secondhand stores can yield some great finds at great prices—you never really know what you’re going to find! One woman’s castoff is another woman’s couture, and if you’re really lucky you can find some items that have never even been worn at a price that is unbelievable.
This does not mean, however, that you should waltz into a consignment store, whip out your credit card, and grab all the stuff you can get your hands on. Just like with any other shopping trip, you need to budget beforehand and do what you can in order to get the best deal possible. So how can you enjoy consignment store shopping without making your budget suffer? Read these five tips for extreme budget shopping at consignment stores, for starters:
1. Set a budget and stick to it…really. You should already know what you can afford to spend before you wander into the store. How do you figure this out? Think about how much money you have that isn’t already obligated for bills, savings, or emergency money. Don’t spend money you can’t afford to part with. If you don’t need a specific item, and your closet is already packed, don’t give yourself a bunch of money to spend.
2. Haggle with the owner or manager. Plenty of consignment and secondhand stores are small enough to where the person working the cash register is also the person in charge of making decisions. The next time you approach the counter with a handful of clothes, consider a negotiation. If you have $200 worth of clothing in your hands, ask if you can pay $175. Don’t feel apprehensive. You might be surprised to find that your request is granted and you can walk out with enough money to buy some shoes off a clearance rack.
3. Wait for sales. Even consignment and secondhand stores have sales, especially when they need to move some products to refresh their inventory. When a store like this is having a sale then it’s time to head over there and have a look around. What’s better than gently used clothing? Gently used clothing on sale, of course.
4. Call ahead of time. If you are looking for a specific piece of clothing – suppose you need a black cocktail dress for a dinner, for example – you can call the store ahead of time and ask if they have anything like it in your size. Why should you bother to do this? The answer is simple: If they don’t have anything like what you are looking for then you shouldn’t risk going into the store and finding a bunch of stuff that you don’t really need but decide that you want to buy.
5. Don’t take your credit card with you. You’re much more likely to splurge and spend beyond your means if you’re paying with a credit card instead of bringing cash into the store with you. There is just something about paying with cash that makes most people reign in their spending. As a bonus, you may be able to ask for a cash discount.
Also, consider walking into the consignment or secondhand store with your arms full of clothes from your own closet that you don’t wear anymore—you might get enough store credit to pick up some great new pieces.
The Under $70 Work Outfit
Okay, we’re not going to rehash how terrible the economy is right now—you’ve been thinking about that enough already. Instead, we’re just going to try to be positive—positive, that is, that you can get a great for-work look without spending a small fortune. This outfit, for example, comes in at under $70 and will have everyone else in the office wondering how you do it . . .
Milano High Waist Pencil Skirt, $17.80, Forever21
Isaac Mizrahi for Target Lace Bow Blouse, $24.99
Xhilaration Sandra Peep Toe Pumps, $22.99, Target
Thin and Thick Bangle Set, $3.80, Forever21
Total Outfit Cost (Before Tax): $69.58
Women’s Coats For Under $50
Summer dressing on an extreme budget is soooo much easier—breezy skirts, shorts, tank tops, sandals for less? It’s a no brainer. But now that it’s fall—and our budgets are getting tighter than we’d ever imagined—many of us are also in the position of having to suit up against the cold that’s to come. If you have a decent coat from last year (or the year before), there are ways to update or make it look a little fresher for the season (check out The Budget Fashionista’s tips for Updating a Winter Coat); however, if you really just need a new coat, you should know you can get one without spending a fortune. We’ve picked a few we like for under $50 (seriously!):
AB Studio Ponte Coat, on sale $35.60, Kohl’s
Adine Plaid Coat, $37.80, Forever21
Merona Hooded Puffer Jacket, $39.99, Target
Sasha Funnel Coat, on sale $39.99, Delia’s
Herringbone Cape, on sale $49.99, Chadwick’s
Reversable Knee-Length Coat, $49, Newport News
Not pictured: Mossimo 3/4 Sleeve Wool Coat, $39.99, Target
Cheap Fall Boots
What: Cheap boots for fall (we’re talking under $35 per pair)
What We Say: Boots are a fall and winter classic, and while the bootie is certainly hot right now, a more traditional boot style will easily take you through this style season and many more to come. You can wear them for both work and play, and they’re also a little warmer than other footwear options, meaning that they’ve got the advantage of both form and function—which, as purveryors of value, we love. In the interest of economic survival, we believe that if your going to spend your money on fashion updates this season it’s especially important to pick and choose things that will give you the most for your money. Oh, and proper care will extend the life of your boots (and all shoes) as well . . .
Our Picks:
Women’s Faux Suede Knee Hi Boots, $34.99, Old Navy
Steve Madden Women’s Olean Boot, on sale $30, Famous Footwear
Midcalf Scrunch Boot, on sale $25, Newport News
Brianna Boot, $32.80, Forever21
Tips for Budget Shopping at the Mall
Shopping at the mall can be great because you have so many different stores to choose from, but a common problem with the mall is that prices can be way too expensive. If you aren’t careful then you may wind up spending much more than you should.You can save money when you’re shopping at the mall, but you’re not going to do it by buying every cute thing you see while window shopping. Don’t walk in with a credit card and the intention to spend because you’re asking for trouble if you do that. If you’re going to go into the mall you need to have a plan of attack.
Five tips for extreme budget shopping at the mall:
1. Don’t EVER pay full price. Paying full price for something at the mall is like buying something marked up 20% from other stores. You might come across a garment or accessory that you absolutely love and want to buy right away, but unless you have a way to chisel the price down then walk away.
2. Bring coupons. Stores send coupons out all the time to customers who sign up for mailing lists and e-mail lists, so if you have a store at the mall that you really love then you should be on their mailing list and should use the coupons they send you. Sometimes stores will send coupons that can be used in conjunction with sales, so be meticulous in planning your spending and you can save a lot of money. Ask if the store accepts competitor’s coupons too, because you never know when you might be able to pull out a coupon from one place and get the same discount somewhere else.
3. Scour the clearance racks. Okay, we all know clearance racks can be a little icky sometimes, especially when you shop at department stores that have an affinity toward polyester suits in the sections you don’t usually shop. Don’t skip a clearance rack at a store just because you have the premonition that the clothes will all be lame; you might be surprised at the things you can find. For example, if you wear a size 14 you might not think to go shop at Lane Bryant, but if this store has a clearance you should be one of the first people sifting through the racks because your selection will be fabulous, mainly because ladies who wear size 14 don’t usually think to venture into this store.
4. Ask for a discount. You don’t have a coupon but you want more of a discount than the sale that’s going on at your favorite store in the mall. Approach the counter and ask the person at the register how you can get more of a discount. You might be pleasantly surprised to find that the store offers additional discounts for AAA members, military personnel, educators, seniors, or any other number of groups. You’ll never know until you ask, and since some of these discounts can be pretty hefty it is definitely worth the time and effort.
5. Don’t pay with a credit card. Studies show that you’re apt to spend more freely if you pay with a credit card instead of with cash. You also will wind up paying interest on the balance if you don’t pay it off in full when your statement comes. So even if you get a 10% discount on a pair of shoes it won’t be much of a budget triumph if you then turn around and pay 13% in interest on the purchase. Add compound interest to the equation if you let the balance linger and you’re wasting your money. And if you don’t want to carry cash, use one of TBFs favorite tips —load your cash onto a gift card.
The Under $75 Work Outfit
These days, even $75 can sound like a lot, and it’s possible, depending on where you work, to get a great workwear ensemble for even less than what we’ve shown here. However, today we’re focusing on a truly office-worthy outfit—meaning you’re still dressing for the job you want to have rather than the one you’ve got—while not spending this month’s 401K contribution . . .
Park Avenue Pinstripe Pant, $19.99, New York & Company
Lyndal Ruffled Top, $19.80, Forever21
Isaac Mizrahi for Target Ariel Oxford Booties, clearance $24.49
Croc Skinny Belt, $6.80, Forever21
Total Cost (Before Tax): $71.08
20 Tips for Getting Out of Debt
Several months ago I wrote a post on how I was able to get out of debt and the recent downturn in the economy has put many folks in the same position I was in 5 years ago—struggling to afford even the basic necessities and sinking into massive amounts of debt. So I compiled 20 tips I’ve learned along the way to becoming debt free. Please add your own tips below.
20 Tips for Getting Out of Debt
1. Stop Spending. I know this sound simplistic, but it is the most effective thing you can do to get out of debt. Here’s more on how to stop spending.
2. Admit You Have a Problem. It’s hard to admit to your friends and family that you are broke. It’s down right embarrassing, I know cause I’ve been there. However there’s a certain freedom that comes with admitting your mistakes. You’re family may join you in tip #5.
3. Realize Money, Most Likely, IS NOT the Issue. Many times we spend money to avoid dealing with personal issues in our lives. Shopping is not therapy. Fun? Yes! Therapy? No.
4. Face the Facts. Gather all your financial records. ALL OF THEM (many people do not open their statements). Using the form found in “How to Be a Budget Fashionista”, record all your income and expenditures.
5. Get a Financial Buddy. This could be a friend, a family members, a co-worker, etc, but it needs to be someone who is as committed to getting out of debt as you.
6. Let Go of the Princess Myth. So many of us feel that we deserve expensive handbags and luxury cars. The Declaration Of Independence doesn’t guarantee you “Life, Liberty and the Pursuit of a Prada Handbag”.
7. Create a Needs vs. Wants list. This will help you prioritize what is really important to you and your family. Don’t need cable, but you do need electricity or gas for your car.
8. Live Below Your Means. After completing, tip #4 you should now know what is coming in and what is going out. Always make sure that what goes out is no more than 80% than what you bring in.
9. Become Financially Literate. Read books like Suze Orman’s “Women and Money” and watch shows like Dave Ramsey’s on Fox and learn as much as you can about your financial well-being.
10. Understand That There Are No Quick Fixes. You probably didn’t get into debt overnight, so you will not be able to get out of it overnight. Start first by doing tip #1- Stop Spending, and you’ll notice that you will start to chip away at your debt, one step at a time.
11. Use Cash. Unless you’re traveling or making a big purchase (which you shouldn’t be doing if you’re trying to get out of debt), there’s no reason for you to use a credit card. Figure out how much you spend each week (again tip #4) and take that amount out in cash each week. When the money is gone, it’s gone. No more going back to the ATM
12. Stop Eating Out. This is a sure fire money zapper, especially if you have a family. Rather than eating out, invite friends over for a potluck or have family cooking nights. Not only will you save money, but you will also create excellent memories.
13. Recycle and Resuse. Being eco-friendly can save you a ton of money. Instead of buying new bowls, use the plastic containers from products like cool whip and butter. Save aluminum foil.
14. Cut Up Your Credit Cards. This one is pretty straight forward. Most places accept debit cards, so you don’t need to have a credit card.
15. Get a Side Gig. Getting a side gig is a good way to earn extra money and, yes, that may mean that you have to work evenings at your mall or grocery store. Use the money from this job to ONLY pay off your debt.
16. Learn the Basics of Credit Cards. Watch this PBS Frontline series on the History of the Credit Card and you’ll understand why I stress tip #14.
17. Limit Spendthrift Friends. This is the partner tip to tip #5. Spendthrift friends can, intentionally or unintentionally, sabotage your efforts to get debt free. I’m not saying to stop being friends with these folks, but make sure you never go shopping with these friends.
18. Cut Up Your Primary Checking Account Debt Card. I don’t have a debit card for my primary checking account because I don’t need one. I created a shopping savings account and I purchase everything (groceries, too) from this account.
19. Move. Moving to a smaller apartment or home, can save money in a multitude of ways- from rent/mortgage to heating and electricity bills.
20. Remember This Too Shall Pass. It will take time to get our of debt, but you are on the right path. Keep your head up.
Interesting in learn more about how I got out of debt? Read My Story
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