Monday, November 23, 2009

Thanksgiving party of 10 – Yours for only $42.91

$42.91. Does that price mean anything to you? Amazingly, it’s the average cost of a Thanksgiving dinner for 10. According to the American Farm Bureau Federation, "...a shopping list that includes turkey, bread stuffing, sweet potatoes, rolls with butter, peas, cranberries, a relish tray of carrots and celery, pumpkin pie with whipped cream, and beverages of coffee and milk, all in quantities sufficient to serve a family of 10," costs only $42.91. Hooray for Thanksgiving! It is officially cheaper than:
  • Four porcelain hippo figurines
  • 171 boxes of Lemonheads
  • A roller derby costume for Halloween, complete with skates and fake tattoos
  • Movies with popcorn, snacks and beverages for 2
  • Most speeding tickets (I think. I don’t speed and thus have no true point of reference.)

To be fair, many of us prepare more dishes than the ones listed. I wonder how much those dishes increase the cost? If you’re comfortable sharing, how much do you spend on Thanksgiving? What do you cook? How many do you serve? What else could you buy for $42.91?


Regardless of the cost, I hope you and yours have a very safe and happy Thanksgiving!


Carleen M.

OurSusu.com


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Wednesday, November 18, 2009

One habit I don’t want to break

If you’re reading this blog, you’re probably interested in personal finance and know what you’re supposed to be doing: saving money, avoiding debt, building your credit score. Of course, we all know that’s easier said than done.

I’ll be the first to admit that I always put savings last. There was always some bill that had to be paid or some emergency that would come up and dash whatever hope I had of saving money that month. In fact, when my friend asked me to join a Susu my first reaction was “Where am I going to find the money for that?!”

But somehow I incorporated the Susu contribution into my budget. The push I needed to save was knowing that my friends and family participating in the Susu with me were depending on me to come through. When I was just saving for myself, I always found a "better" use for that money.

Even though at first I was scared of the hit on my budget, participating in Our Susu has actually helped me use my money more wisely. I was able to save enough to pay for a kitchen renovation I’ve wanted for years without having to put it on a credit card. Making the regular contributions to the Susu was automatic and it became a routine. And after the Susu was over, I was so used to putting away $100 a week that I continued the habit. I’ve now got an emergency fund that will cover at least three months’ worth of bills. The security I feel knowing I have a backup is priceless and saving has now become a habit I don’t want to break.

Lissette S.


OurSusu.com user and Blog Contributor


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Thursday, November 12, 2009

Our Susu is getting noticed!

Thanks to Gil Michel at Black Money Matters for writing about Our Susu.

Carlton Langley
Founder, Our Susu

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Taking Charge

If you’ve been watching your mail lately, you may have noticed a decrease in credit card offers, but an increase in rates. Many users in good standing have seen a lowering of their credit limits even though they’ve paid on time every month. I’ve spent more time reading through the many sheets of paper in my credit card statements in the past few months than I’ve spent in the last 15 years. What’s with my new interest in the fine print and sorting through all the gibberish? I want to keep an eye on everything until February 22, when the Credit Card Accountability, Responsibility and Disclosure Act of 2009 (or CARD Act) will limit how credit card companies can penalize users and raise interest rates. Until then it’s open season on consumers.

Check your rates. Look at your limits. Monitor your situation. A rate that was once below 10% may be above 20%. Now is the time to really read through your statements. See where you can save money or pay off cards.

As you know, at OurSusu.com we’re all about saving. Why not start a Susu to pay off your credit cards? I’m sure you have a few family members and friends who’d like to decrease their debt. Help one another. You’ll know whom you’re borrowing from. You’ll know whom you’re lending to. And the best part is – if there’s an interest rate, you’ll always know what it is.

For more on the CARD Act, visit http://www.whitehouse.gov/the_press_office/Fact-Sheet-Reforms-to-Protect-American-Credit-Card-Holders/

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Monday, November 9, 2009

Tips for a Stress-Free Holiday

Once again another year seems to have flown by. Halloween just wrapped up and already the stores are filled with holiday decorations. If you’re like me, all the spending during the holidays can cause a lot of stress. Between gifts for the kids and trips to visit family, not to mention the cost of attending holiday parties, it’s enough to blow anyone’s budget.
 
Of course, I’m using Our Susu to save money for the holidays. Having the money on hand will go a long way towards easing the stress I used to feel January 2. You know how it is. The new year rolls around; you have a big stack of bills, and the only thing to show for it is a pile of toys the kids are already done playing with. To start your own savings circle just head over to www.oursusu.com.
 
In addition saving with Our Susu, I’m careful about where my Susu savings money goes in the first place. Here are some tips to help you prepare for a financially stress-free holiday season:
 
• Budget is not a bad word. Before you buy, budget.  Be realistic about what you can spend.  I wish I could buy everyone I loved an all-expenses paid trip to Hawaii.  They’d live it up on the island, but I’d be stuck in the poor house.  Don’t buy gifts you can’t afford.  
• Make a list, check it twice. Santa was definitely onto something with this. Having a list ready before you go shopping will save you money and time. Not only will you avoid impulse buys, but you’ll know in advance where you have to go to buy each gift.
• Check the Sunday circulars. The store advertisements distributed with the Sunday papers not only have valuable coupons, but they allow you to compare prices so you don’t have to drive all over town looking for the best deal.
• Shop online. While everyone is up at 4 a.m on Black Friday, battling aggressive, determined shoppers hopped up on caffeine, I’ll sleep in late and enjoy a relaxing day. That’s because I do most, if not all, of my shopping online. Spending about an hour online helps me avoid the hassle of searching for a parking spot, navigating the crowded malls and dealing with frazzled shoppers. My gifts come in a couple of days, and sometimes they are already wrapped!
 

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