A few words of wisdom

How To Be Thrifty During Independence Day

Ever feel like your burning up your money?

Three steps in saving your money on July 4th

(1.)  Grab your lawn chair.

(2.)  Get into your car.

(3.)  Take a drive to your local fireworks show.


Note:  You do not have to buy your own fireworks to enjoy a show this Independence Day.

Can't leave your house?  Watch this video: http://www.youtube.com/watch?v=sSCW8FHRT_U

10 Crazy Frugality Schemes That Just Might Work

Have you ever heard someone's money-saving trick and thought it sounded absolutely insane? There are plenty of strange ways to save a buck or two. What's really great, though, is when it actually works. Head over to our partner site Wise Bread for some crazy yet effective forms of penny pinching:

I've been called many things in my life. Some good, some not so good. But I can't say I've ever been called crazy when it comes to being frugal. So, as I'm not getting any younger, I thought it was time to bring out a list of 10 crazy frugal schemes and earn the sobriquet. Some of these plans are certainly more "out there" than others, but all are worth a try, I think. Put some of them to the test and let us know how you get on.

Related: The Enemies of Frugality

And, if you have some even crazier ideas, chime in. While I was writing this article, a friend of mine told me they sometimes skip buying lunch and eat free samples from the grocery stores. It may save a few bucks, but that’s not my style. Anyway, on with the list.

Read on for more.

1. Stop Buying Groceries
Well, not forever, and this is not a suggestion that you steal your groceries, either.
The basic idea behind this one is to stop buying until you've used every item in your pantry, fridge, and freezer. We all overstock our cupboards and throw away food that has gone off because we just couldn't get to it in time. Or we've put it at the back of the fridge and forgotten all about it. So, commit to using everything you have. It will take some serious creativity at times, but, depending on the depth of your larder, you might go two or three weeks without having to do a big shop. Eggs, milk, and bread may need to be purchased, but everything else you forage out of your pantry.
2. Dumpster Dive For Dinner

I hesitate to call this one crazy; I personally think it's both logical and smart. But the idea of digging around in dumpsters for the groceries seems plain nuts to some people. However,freegans would seriously disagree. They regularly find completely edible food in the dumpsters of local supermarkets, which has all been thrown away due to sell by dates or imperfections. Fresh fruit that isn't perfect gets dumped, as well as baked goods that aren't 100 percent fresh. It's a shame that so many people are starving in this world, and yet so much perfectly edible food is thrown away daily.
3. Use a Bathroom That Isn't Your Own
If you have a gym membership, then you should take full advantage of it. And that includes using their showers and bathrooms.
Go to the gym in the morning, and after your workout, take the long, hot shower you were going to take at home. Use their bathrooms, and thus, their water. At work, use the bathroom just before you leave. Out and about, pop into public restrooms before you come home. It may seem absolutely bonkers, but it can save you hundreds of dollars every year in water and heating costs.
4. Buy Smaller Plates
The size of the average dinner plate has grown considerably over the years. This is partly due to restaurants upping the ante and dishing out larger and larger portions of food. Now, we do the same at home. And the bigger the plates, the more food we get through in a sitting. It’s not just bad for our wallets; it's bad for our waistlines. So, put the big plates in the basement and eat meals from smaller plates — the ones you usually serve appetizers on. You'll be amazed at the leftovers you'll have.
5. Reuse Disposable Items

Disposable items don't disintegrate. You can reuse an awful lot of them.
Aluminum foil, ziploc bags, tissue paper, gift bags, takeout containers, swim diapers, tissue boxes, egg cartons, and even laundry detergent caps can be used multiple times. There are even ways to reuse disposable cameras and camcorders, if you have the time and patience. Reuse these items you would normally throw away, and over time you'll see significant savings.
6. Stretch Laundry Days
My mother was laundry crazy when I was growing up. If I took off a pair of jeans or shorts, they were instantly put in the wash. Sweaters were washed as soon as they were removed. Shirts, jackets, you name it — one wear was all anything ever got. But there is no reason to wash every single item after every use. For instance, jeans can easily go three or four uses, if they're in a good rotation with other jeans (I have way too many pairs). Sweaters? Well, you have a t-shirt between it and your skin. Jackets should really only be washed when they get dirty or smelly. And even t-shirts can be saved with a good spritz of fabric refresher. Underwear? Now that's a different story.
7. Avoid Your Spendthrift Friends

While it may seem a little heartless, we all know people who are very carefree when it comes to money. I've heard things like "credit cards are free money" and "why save when you could be dead tomorrow?"
Well, that may work for them (doubtful), but when you're with them, you will be tempted to spend more than you usually would. So, unless your willpower is concrete, try to avoid your less frugal friends when you know it could lead to wasteful spending of your own.
8. Negotiate For Almost Everything

So, you obviously can't haggle the price of a can of beans at your local supermarket or the price of gas when you fill up. But use your common sense. From big-box retailers and car dealerships to farmers markets and Craigslist sellers, there is usually some wiggle room in the "for sale" price. But like the old adage goes, you don't get it if you don't ask. And the more you do it, the better you'll get at getting it.
9. Stop Making Lefthand Turns

Don't take my word for it. This comes straight from the people who know a thing or two about making trips on America's roads: UPS.
United Parcel realized that having 95,000 of its trucks idling in the left lane was wasting a ton of time and gas. So, they employed a system called "package flow," which drastically reduces the number of lefthand turns a driver has to make. It saved UPS over three million gallons of gas. Now, analyze your trip to work or the route you take to go grocery shopping. Can you avoid many of those lefthand turns? It may save you a few bucks.
10. Convert Costs to Your Hourly Wage

This is one my lovely wife told me about recently, and since I discovered it, I have completely changed my spending paradigm. It works like this. Let's say you want to buy a new jacket. That jacket costs $100. You earn $15 per hour, but that's gross pay. So net pay, after taxes, you earn maybe $10 per hour that actually goes in your pocket.
In real terms, it would take 10 hours to earn the $100 you need to buy that jacket. Is the jacket worth 10 hours of labor? Ten hours of construction work? Ten hours of taking orders, answering phones, client meetings, or whatever else you do for a living? If you think so, then go ahead. But you may find that you just don't think it's worth the time. It works on anything, from a car to a cup of coffee. Do you want to work 30 minutes to pay for that Starbucks buzz? Or a few minutes for the coffee you brew at home? It really is a shift in thinking.

What's your "so crazy it just might work" frugal living strategy?

— Paul Michael

Check out these other smart tips:

The Psychology of Money: How a T-Shirt Equals a Taco
25 Ways to Make Money
Extreme Couponing? 5 Reasons Why I'll Pass
10 Frugal Tips You Haven't Heard

Source: Flickr user 401(K) 2013

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Personal finance expert Farnoosh Torabi explains how you can you make extra money by renting your driveway, renting your car and sharing your opinion with focus groups around your city.

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4 Ways to Budget Your Business Like a Pro

Nobody likes to talk about budgeting. Even more, budgeting is sort of a drag to do — but all can agree it's incredibly important.

A few companies have launched software to make budgeting faster and easier. Plus, options for interaction with fellow entrepreneurs on sites likeTwitter and Quora enables relevant feedback so you don’t pay excessive amounts for a service you don’t need. Read on to discover a few ways you can manage your company's spectrum of debits and credits without too much stress.

1. Use Software

If Excel spreadsheets, paper receipts and data entry don't match your cloud storage lifestyle, you're in luck: Many entrepreneurs felt the same and a few decided to create an app that would turn their dream version of budgeting into reality.

inDinero is like Mint for small businesses and offers a deep feature set for keeping your transactions in check. You can connect bank accounts to view all of your cash flow in one place, as well as set categories, which inDinero will bucket transactions into automatically.

If you're looking to solve a more specific problem in your workflow, there are niche finance solutions as well. Xpenser is a platform specifically for expense reports, with apps on iPhone, Android and Windows. FreshBooks is for invoices, and while it's especially useful for freelancers and the self-employed, it's also been used effectively by teams.

Apps like these will help to visualize cash flow, something that's difficult to get a handle on with multiple accounts and payments that are set on automatic.

"So much of entrepreneurship is future-focused," says Derek Flanzraich, founder of Greatist. "Especially in terms of funding and revenue generation — it's tough sometimes to remember you need enough money in the bank today."

2. Hire Outside Help

When you're bootstrapping, you'll want to take extra care when deciding what tasks to outsource — because, if you can do it yourself, why pay someone? For Melani Gordon, founder ofTaphunter, bookkeeping was one task that was just too time consuming to fulfill in-house. For Taphunter, Gordon hired a CPA separate from her bookkeeper. She’s found this to be more affordable, but don’t forget that you’ll take on an extra task — making sure these two people are communicating with each other.

The third piece of the financial equation for Taphunter required finding a financial expert to act in an advising role.

"The bookkeeper or CPA doesn't have the pulse on the startup world, so we had to go out and hunt for this type of person to help with our financial modeling," Gordon explained.

The financial expert offered specialized expertise to nail down its cost of acquisition — which Gordon says is a moving target in the beginning, when there’s little data to go on. Drilling down on the ROI of sales staff and/or marketing is included here.

3. Ask Around

Money is a touchy issue, but remember it’s often easier to be transparent about how much you’re paying for a service during in-person conversations. So, next time you’re at an event or getting coffee with other entrepreneurs, ask if they don’t mind sharing how much they pay in fees for something you’re looking to buy.

Flanzraich also found Quora to be helpful in answering questions, especially generics such as "How much is too much to pay for ... ?" Even though each industry and region is unique, it helps to get a general idea so you know you're not getting robbed — especially while your company is young.

Every small business is different. State taxes will vary, and due dates won't be consistent. Even though the web is filled with how-to explainers and guides on budgeting, you won't know how your business is different until you get started.

"Especially for companies in which most employees are under 26, health insurance costs can vary like crazy," says Flanzraich.

4. Overestimate Monthly Burn

Is it better to be safe than sorry? Probably.

Most of your expenses are predictable. Office expenses — including desk, phone, furniture, computer, and if your company employs salespeople, travel, entertainment, gas, mileage — are commonly divided up by headcount.

“We’ve seen us and entrepreneurs around us underestimate month-to-month travel, entertainment and office expenses,” says Gordon. One lesson learned was to stagger hires over a period of time, which will reduce monthly burn.

And, in the vein of preparing for the worst, consider unfortunate things like parking tickets and high gas prices, if employees (or you) will be doing business travel on the company's dime.

Budget success, as most will agree, is not necessarily hitting the nail on the head with what your expenses end up being. It's setting yourself up for the least money-related stress possible. There's enough to worry about with product, recruitment, PR and more — don't let that unexpected debit put you in the red. Make sure there's room for a few untimely expenses and if they're avoided after all, you've got extra cash.

What steps do you take to budget more effectively? Let us know in the comments.

Image courtesy of iStockphoto, Hiob

TOPICS: APPS AND SOFTWARE, BOOTSTRAPPING BUSINESS SERIES, BUDGET, BUSINESS, FEATURED, HOW TO, JOINME,SMALL BUSINESS, STARTUPS, SUPPORTED

26-year-old’s mission: Create 1 million jobs

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