» Money Saving Ideas, Advice, Management Tips For Women

Fab & Fru Twitter Party – You’re Invited!

Steph — Wed, 01 Feb 2012 21:38:52 +0000

Join Us at #savvysavings Tomorrow at 6p PST/ 9pEST

Fab & Fru is beyond delighted to be co-hosting a “Savvy Savings” Twitter party this Thursday, Feb 2nd! Join us on Twitter – #savvysavings – at 6pm PST/9pm EST for tips on how to give a BIG boost your savings account in 2012. We will also be sharing fabulous finds and amazing giveaways – plus a very special savings superstar will be giving us all tips on how to maximize online deals and coupons.

RSVP NOW to be eligible to WIN one of our great giveaways: a $250 Gift Card from Cafe Press.com’s Home Goods section, plus TWO $50 Gift Cards to Whole Foods! And of course, please feel free to invite all your friends – it’s a party after all – the more the merrier!

Meet Our Co-Hosts!

We like to party with the most savvy savers – which is why we are so excited about our co-hosts: Citibank’s Women & Co. and deal experts Savings.com! These ladies sure know how to liven up your Twitter feed — and, more importantly, how to save a buck. From your BIG financial picture, to how small changes can save you loads of cash, we’ll be tweeting you tips all hour on how to save more money – in 2012 and beyond!

And Our Special Guest…

Also, joining us is our special savings star – The Thrifty Mama herself – Crystal Collins! You won’t want to miss Crystal’s MUST KNOW tips on how to use online deals and coupons to help you cut your budget and instantly find more money to put towards building your financial future!

Five Minute Guide: Your 401(k)

Steph — Thu, 12 Jan 2012 18:21:41 +0000

Fab & Fru Five Minute Guides!

Based on an article by Women & Co.

Have you started planning for your retirement yet? Looking for quick tips to help you get the most out of your 401(k)? We’ve partnered up with the fabulous finance experts at Citibank’s Women & Co to bring you the Fab & Fru 5 Minute Guides – fast and furious financial cheat sheets on everything money that you need to know NOW! Take 5 Minutes to Take Control of Your Financial Future…

Are You Saving For Retirement?

What is a 401(k) – and why is it so great anyway? 401(k) plans are employer sponsored retirement plans. The beauty is that the money you contribute is deducted from your taxable income – meaning you are taxed on a lower amount than you are actually earning for that year. Plus, your 401(k) contributions are tax deferred – you don’t pay taxes on them until you withdraw. Finally, some good news when it comes to the IRS! Here are the key facts to know about your 401(k):

1. Enroll – You’ve got to be in it to win it. The earlier you enroll, the longer you have to take advantage of compounding interest – see, some things do get better as you age!

2. Max It Out – Not recommended for your credit cards, but you absolutely should max out your contribution to your 401(k) plan every year!

3. Matchy-Matchy - Get up to speed with any matching plans your employer offers. You may have to contribute a certain amount, or work for them a certain amount of time to be eligible for a matching contribution.

4. Look but Don’t Touch - Resist the temptation to cash out when changing jobs, or to dip in to your 401(k) before retirement!

5. Stay On It – Setting up your 401(k) is only part of the battle. You – yes – you – need to monitor and review accordingly! Remember to update your beneficiaries as your life changes and to meet once a year with a financial professional to review your 401(k) savings plan.

Thanks to our partners at Women & Co. for the 411 on 401(k)s – and be sure to let us know which topics YOU would like to see Five Minute Guides On!

What Do You Have To Give?

admin — Thu, 22 Dec 2011 07:01:30 +0000

by Brandi Savitt – December 22, 2011

The Benefits of Giving Before December 31st

Were you planning to make a donation to a worthy cause this year but never got around to it? Well, before 2011 comes to an official close, now is your chance!

The reality of the ongoing economic crisis means that charities around the globe are suffering too. Many organizations who help the needy have found their donations significantly cut due to the recession. So, remember – just because you can’t give what you used to, doesn’t mean you shouldn’t give at all. No donation of your time or money is too small – so please help keep the efforts of charitable organizations alive and thriving. Besides getting a write off on your 2011 taxes, a charitable donation in someone’s name is a totally fabulous last minute gift idea that you can actually feel good about giving!

End of the Year ‘Right’ Offs

When you donate to qualified charities you can reduce your taxable income and lower your tax bill, all while helping society. The amount of your tax savings depends on your tax bracket. For example, according to the IRS site, “If an individual with a taxable income of $50,000 donates $2000 to her church, the tax savings will be $540 — $2,000 times the taxpayers marginal tax rate of 27 percent.” In a nutshell, the tax saving usually equals the amount of the deduction times the individual’s marginal tax rate. Consult a tax professional about your personal situation, but the bottom lines is: What is good for the soul can indeed be good for the wallet!

Find the Charity You Connect To

Charity Navigator is an amazing resource that can help to get you started. Whether you prefer to volunteer your time at the local soup kitchen, help a child in need, or donate your car, Charity Navigator has vetted hundreds of organizations around the country and can help you choose which cause is best for you. They also provide fantastic tips! Check below for some interesting info from their Charity Navigators Holiday Giving Guide.

Get the Biggest Bang for Your Buck

With less charitable dollars available this year, it is critical that donations go to charities that will maximize the use of every dollar. Charity Navigator’s research shows that the most efficient charities spend at least 75% of their budgets on programs and services with the remaining 25% spent on administrative and fundraising costs. Donors should focus on supporting charities that can meet this benchmark.

How Much Does the CEO Make?

Just as Wall Street salaries have come under fire, nonprofit CEO compensation has become a lightning rod issue. Make sure your charity’s leader isn’t excessively compensated. Charity Navigator’s analysis puts CEO pay around $150,000 or 3% of expenses. Of course, in evaluating the appropriateness of a salary, donors should consider variables such as the charity’s location, size, mission and overall performance.

Planting Peace

Speaking of bang for your buck, we are in awe of what Planting Peace can do with just a few dollars. Founder Aaron Jackson (one of the CNN
Heroes in 2007) can literally save lives with pocket change. And if you are looking for a really Fab – yet Frul – last minute gift idea, check this out: You can bring Christmas to a Haitian orphan for only $5, or provide an entire orphanage with Christmas toys and food for only $50! For more information on Planting Peace or to donate, please visit their site . They are making miracles happen in Haiti and around the world.

Marry Philanthropy & Gift Giving

In this slowed economy, many of us have less to spend on charity and consumer purchases this year. However, we can do double duty with each dollar by engaging in philanthropic shopping. Consumers that buy directly from their favorite, well-run charities, rather than purchasing cause-related products from retailers, make the biggest philanthropic impact.

Cool Sites To Help You Save

admin — Mon, 07 Nov 2011 17:46:31 +0000

By Megan Segura – November 7, 2011

Fab & Fru Approved Online Tools & Deals

I love finding a new website or online service that helps me get organized to really save money on the things that interest me. I’m trying to keep a list, because at this point, I have too many to view in a single day. Here are some of my most recent finds that I couldn’t wait to share with all my Fab & Fru friends.

Cut Down On Trips to the Store

I just started using Alice.com, and I absolutely love it! Alice helps manage all of your household essentials online. You tell Alice what products you normally buy, and Alice finds you the best deals and applies any coupons available online directly to your purchase. Plus, they’ll even alert you when they think you might be running low on an item, like trash bags or laundry detergent. Membership to the site is 100% free, and they also offer free shipping! This isn’t going to be your replacement for grocery shopping, but it will certainly help cut down on bulk shopping trips and last minute toilet paper runs for all you forgetful shoppers out there.

Beauty and the Baby

I’ve never been shy about expressing my love for Birchbox, a company that ships beauty product samples each month for a low monthly subscription fee. And now there’s a version just for moms! Bluum.com sends sample sizes of new care products made for babies and moms. This helps women try out new brands without wasting their money.

For $9 a month, Bluum sends four to five samples of new products for you to try each month. The product samples are carefully selected by Bluum’s team of moms, so you and your baby are more likely to love them.

Organizing Your Bills and Accounts

Manilla.com is a new site that not only allows you to organize all of your bank accounts in one spot (similar to Mint.com), but it also lets you keep track of all of your monthly bills and subscriptions. This means you only have to visit one site a month to take care of your bills and subscription payments. Manilla also organizes your travel reward programs, so you can easily access any frequent flier miles you’ve racked up. I’m in full support of any company that lowers the number of passwords and sites I have to keep track of, and best of all – it’s free!

Exposing A More Crafty Site

Heartsy.me is a flash sale site that I’ve recently learned about. It’s like combining the powers of Groupon with Etsy. You’re able to discover great crafts from other people and purchase them at an even lower price than you normally would be able to.

Every day, you’ll be introduced to a new talented artist, along with a discount that can be used at their online store. If you love crafts but aren’t particularly good with a glue gun, this site is for you. I’m especially excited about this find, since it comes just in time for holiday shopping!

What new Fab & Fru sites have you recently discovered?

Here are some other articles you might find interesting:

New-Age Ways to Save

The Beauty of Birchbox

What’s the Deal With Cyber Monday?

Battling Breast Cancer

brandi — Thu, 13 Oct 2011 20:08:36 +0000

by Brandi Savitt – October 13, 2011

Discuss, Detect, Donate

Dear Fab & Fru Readers,

For Stephanie and me, 2011 has been a year of devastation and triumph. Between the two of us, FIVE close friends and family members have spent the year battling breast cancer. As someone witnessing her friends and family endure the cruel twists and turns of fighting this deadly disease, I have been humbled and forever changed. While I always knew I was blessed to have many strong women in my life, I have been blown away by the unrelenting courage, strength and unbelievable spirit of these truly fabulous ladies.

As most of you know, October is Breast Cancer Awareness Month. And although tremendous inroads have been made to spread awareness about this horrific disease, and raise money to help find a cure – we have yet to succeed. Even as health savvy caring women, it is impossible to truly understand the magnitude of this disease unless you are battling it yourself, or have witnessed first hand as a loved one fights for her life to become a survivor. The fact is, no woman is immune to breast cancer, and it is up to all of us to educate ourselves and stand united in our efforts to find a cure.

Health is Wealth

Good health is the greatest gift of all. As Gandhi said; “It is health that is real wealth and not pieces of gold and silver”. Here are three key Fab & Fru steps we all need to take NOW to help fight for the well being of all women!

Educate Yourself & Discuss

There may not yet be a cure for breast cancer, but like anything, the first step is awareness. Education saves lives. Empowering ourselves by taking an active role in our own preventive healthcare is essential. Discussing women’s health issues with our mothers, daughters, sisters, aunts and friends – is the first step. Awareness breeds action!

Early Detection Saves Lives

Educating ourselves and practicing preventive medicine, does not need to make us obsessed and fearful. It makes us smart. The facts are very simple – when it comes to breast cancer – the sooner the disease is detected, the higher chance of survival. Talk to your doctor about early detection and commit to regular check ups and screenings.

Donate Wisely to Help Find the Cure

Please consider donating to help find a cure. There are hundreds of organizations that are dedicated to the fight against breast cancer. However, not all organizations are as transparent as others. Before you donate to the cause, find out where your money will be going, and choose the charity that speaks to you.

Charity Navigator is an excellent resource to help guide you in your search. They rate all organizations that they are involved with by the transparency of their accounting practices. Below is Charity Navigators top three rated breast cancer organizations. For a full list, click here.

New-Age Ways to Save

admin — Mon, 03 Oct 2011 16:38:44 +0000

By Megan Segura – October 3, 2011

Saving Without Sacrificing

I’m in the process of saving up for a trip with some of my friends for next summer, and I’ve been trying to figure out some new ways to squeeze my budget for extra cash. As if that’s not frustrating enough, hearing the same old budgeting tips really gets under my skin. I don’t care how many times I hear it, I will NEVER give up my cable package – I love Dexter and True Blood way too much… So, in my effort to save cash and my favorite shows, I turned to modern technology for my salvation. And the best part – I won’t be eating leftovers every night, either!

Your Phone is a Money-Saving Machine

I am one of those people who owns a smart phone, but really only uses it for three things: texting, email and Tetris. Through savings expert Andrea Woroch, I learned there are quite a few valuable apps hiding out inside your phone that can save you BIG.

Loopt – For the iPhone and Android

If you are a Groupon gal, then this app is for you! Loopt lets your friends and you share the different places you go throughout the day. If you happen to be near one of your Loopt or Facebook friends, this app will let you know. Loopt will also alert you to Groupon deals in the area, so if you walk past a restaurant that is having a $20 worth of food for $10 deal, you will be alerted to it as you walk by. Pretty cool, huh?

iCircular – For Smartphones

Clipping coupons just isn’t cute – but it is necessary if you want your savings to add up. This is why iCircular lets you access Sunday circular coupons from your phone. No clipping necessary, since you can take your digital coupon up to a register to be scanned.

RedLaser – For the iPhone and Android

There’s nothing worse than buying an item at one store only to find it being sold for much less right down the street. RedLaser helps to keep this annoying problem in check. See a sweater you love? Scan the barcode with the app, and it will tell you all the other stores in the area that are selling it, as well as their price. And if you want to avoid the hassle of going to another store, try showing the manager the other store’s price. Oftentimes, this is enough to get him or her to lower it for you on the spot!

Gas Buddy – For the iPhone, Android, Windows and Blackberry

I have a couple of friends who will drive for miles looking for the lowest gas prices. I’ve personally never understood this mindset, considering you’re wasting the very gas you’re looking to save on in the process… However, Gas Buddy does the gas guzzling leg work for you by tracking all gas station prices in your vicinity. All you have to do is enter your location, and the app will tell you which station nearby has the best price.

Twitter is Your Frugal Friend

Although it is an insanely popular form of communicating, I still know people who are hesitant to get on the Twitter train. I think the excuse I hear most often is, “I don’t understand the point of it.” Well, I can tell you it’s a great way to save money. At Fab & Fru, we follow lots of great money-saving mavens, like @CheapSally, @BargainBabe and @Cheapism –just to name a few. By following these types of bloggers, you’re given even more access to great deals.

I’ve also found Twitter’s search box to be a excellent tool. For instance, if I’m about to make a run to Whole Foods, I will type “Whole Foods” into the search box. If there’s a deal going on, I will instantly see a few hundred tweets about it. The other day I was about to order a pizza, so I typed in a few popular chains into the search box, and I saw that people were tweeting the code for a fantastic pizza deal. Five seconds was all it took for me to save $5 that night!

What’s your favorite new-age way to save money?

Stress-Free Saving For Your Next Vacation

admin — Mon, 26 Sep 2011 16:46:25 +0000

By Megan Segura – September 26, 2011

Saving the Fab & Fru Way

Once the school year begins, it doesn’t take long before we find ourselves whining, “I need a vacation.” Unfortunately, we don’t always have the funds handy to whisk the family away for a long weekend abroad. It’s possible to take your dream vacation, but us Fab & Fru gals have to put in the leg work ahead of time to make our money stretch.

Honesty Is the Best Policy

Be honest with yourself (no matter how much it hurts!) on how much money you are spending on budget-wrecking habits. Start breaking these habits now, so you can put that money toward a fun trip. If you feel like there isn’t a significant amount of money there, try looking over your bank statement to find other places you can save. Ask yourself what you can give up for a week away – maybe your weekly manicure or your premium cable package.

Organize Your Funds

It is best to keep your vacation money away from your checking and savings accounts, especially if you’re using your savings account for other things, like taxes or rent, etc. If your employer offers direct deposit, then MHN recommends linking more than one account, so a certain percentage of your check automatically goes into your vacation savings account. Since there is paperwork involved with setting up another direct deposit account, you will be less tempted to go back and lower the percentage transferred to your vacation fund.

Certain cruise companies allow customers to put money toward their trip early by exchanging real money for “vacation money.” Doing this keeps you from spending money that has already been set aside for your vacation.

Look For Discounts

Once you have chosen your dream destination, Nicole Hockin suggests signing up for Airfarewatchdog. This site will alert you to great deals on flights to your destination.

Andrea Woroch suggests you consider getting a rental house or hotel room that comes with a kitchen. This will help you save money on snacks and small meals, so you can splurge on bigger meals.

Final Tips for Budgeting for a Vacation

Sign up for any loyalty clubs that you come across when planning your vacation. These clubs help you to get discounts on the next vacation you plan.
Take 20% of your vacation budget and add it to the fund. This extra money will account for unexpected costs that may sneak up on you
Call your bank and tell them where you are going before you leave for vacation. Some banks will see that your card is being used in another country and assume it has been stolen and stop transactions from going through.

Do you have your eye on a particular vacation destination? Tell us about it!

Is The Buffett Rule A Big Deal?

Steph — Wed, 21 Sep 2011 14:47:36 +0000

By Stephanie Berenbaum – September 21, 2011

Do Secretaries Pay Higher Taxes than Their Bosses?

We know you’ve had a busy week, so we’re not sure how much attention you’ve been paying to President Obama’s proposed “Buffett Rule” which he unveiled Monday evening. In case you need a quick recep: the deal is that billionaire investor Warren Buffett has been making a big to-do over the fact that his secretary is supposedly taxed at a higher rate than he is. And Buffett proposes it’s time to fix the system so the rich pay their “fair share”.

Class Warfare? And It’s Only Wednesday…

The debate, predictably, turned into a buzzword fest with phrases like “Class Warfare” and “Wealth Redistribution” being tossed around. So, Fab & Fru wanted to know – what was behind Mr Buffett’s claim?

Income By Any Other Name…

As far as we can tell, the main issue here is that not all income is taxed in the same way. You might think that money is money, but it is not, at least in the eyes of the IRS.

Basically, most people earn the bulk of their income through their salaries – called “earned income” The very, VERY rich (like Warren Buffett) earn much of their money through investments. Money earned through investments is called ” unearned income” – it includes things like interest, dividends and capital gains – when you make money off an investment.

What’s the Difference?

“Unearned” (investment) income is taxed at a lower rate than earned income – which explains where Buffett is coming from. And since the uber rich tend to earn more from investments than from actual wages, the bulk of their income may indeed be taxed at a lower rate than the worker whose compensation is mainly from salary. The tax rate is based on what type of income it is. Follow so far?

Why?

The idea behind the lower tax rate for investment income has to do with the government giving an incentive to save and invest. And while this applies to anyone with investments, the reality is that this generally benefits the very rich the most because they are simply saving and investing the most…

Does It Matter?

Okay, so I am a big picture kind of person. And while I can see a case for changing the “unearned income” tax structure (in effect closing what many see as a tax loophole for the wealthy), will it really make a big difference regarding the economic crisis our nation is in? I don’t think so. Relatively speaking, very few Americans are millionaires – and the vast majority of tax payers make the bulk of our incomes through salaries – not investment income.

Political Warfare vs Reality

While we understand the buzz around Buffett, we’re going to make it our business to look beyond the Buffett Rule and see what measures are being taken to really help fix our fiscal woes in a more substantial way. It’s distracting and enticing to talk about Class Warfare, but the reality is it’s going to take much more than the Buffett Rule to bring about real change in this economy!

The Gold Rush

brandi — Thu, 25 Aug 2011 20:41:46 +0000

By Brandi Savitt – August 25, 2011

Why Is Everyone Buying Precious Metals?

You can’t turn on the news without hearing about how the price of gold has sky rocketed in the face of the turbulent stock market and floundering world economies. But what does that really mean, and why is it happening? Is investing in precious metals a true safe haven, and should we all rush out today to buy bars of gold? Or is this modern-day gold rush just a sign of the times…?

Are You Worth Your Weight in Gold?

We are all still waiting to find our own pot of gold at the end of the rainbow, but it’s been decades since gold has actually been used to back up the worth of paper currency. So, why is it still so valuable?

Like all precious metals, gold is rare and hard to find – and historically, gold has always been the ultimate symbol of wealth. It doesn’t matter that the “gold standard” (linking gold to our currency) has not been in effect since 1971; gold is still considered a safe commodity and stable investment when other markets are on shaky ground.

Stocks Down, Precious Metals Up

Investors generally buy gold as a hedge against inflation, economic, political, or a social fiat currency crises (money that has value only because of government regulation or law). And while the price of gold fluctuates daily, the risk that its value could go to zero is never a real concern. Many investors don’t consider precious metals a ‘sexy’ investment vehicle, but in uncertain times, there’s nothing like solid gold to make investors feel a bit more stable.

Insider Information

Steph — Fri, 12 Aug 2011 19:32:55 +0000

By Stephanie Berenbaum

Stocks Are Down & CEOs Are Buying

What a week it’s been! All the ups and downs of the stock market actually make my frenzied Manhattan dating days seem serene and even-keeled. But, in true Fab & Fru fashion, I wanted to find a bright spot in all this chaos – a little something to help calm my own nerves.

If you’re anything like me, you love a little insider scoop. I mean, who doesn’t want to know what those in the know are up to, right? Now, the insiders I’m talking about aren’t Marc and J. Lo’s best friends or anything like that. This week I was most interested in what corporate insiders were doing – you know, the high ranking executives and board members of companies.

Insider Shopping Spree

Amid the major stock slides this week, some interesting information emerged – there was a spike in insider buying. But that’s confusing, right – don’t people go to jail for this kind of stuff? What does “insider trading” actually mean and why is it a potentially promising sign?

According to the SEC (Securities and Exchange Commission), “Insider trading is a term that most investors have heard and usually associate with illegal conduct. But the term actually includes both legal and illegal conduct.” Interesting. So, first let’s look at the legal kind…

Bargain Hunting Big Shots

Corporate insiders (like CEOs, for example) need to register with the SEC when they buy or sell stock, which is why it is easy to track what they are doing. And, like any of us, when they see something – like a stock - that is undervalued, they want to buy it. Well, this week there was a big uptick with insider buyers purchasing their own company’s stock – which leads one to believe that corporate executives think their low stock prices are overdone and are good values at current levels.

Cocktail Party 411

Now, obviously just because a corporate insider is buying stock does not guarantee it will go up. But I do think it is an interesting trend to be aware of. Believe me, you’ll thank me when you’re at a cocktail party this weekend and that gorgeous CEO you’ve been eying mentions that he’s been scooping up his company’s stock like a kid in an ice cream shop. Now you’ll know exactly what hot stuff is talking about, and be able to add your own two cents worth to the conversation….

Illegal Insider Trading – That’s A No-No

So, now that we’ve addressed the good kind of insider trading, we want to make sure you don’t confuse it with the bad – and illegal – kind! I bring this up because a friend of mine, when she heard I was writing about insider buying, thought it was illegal. No – they are two very different things.

Just to clarify – illegal insider trading is criminal activity. It is when corporate insiders have material, non-public info that they trade on. For example, let’s say that I am a CEO, and I just found out that my company’s number one skin care product actually causes a horrible disease – and then I start selling stock like crazy, before the public has access to this info. That’s totally ILLEGAL, and I would get in serious trouble.