Working from home isn’t always all it’s cracked up to be – especially when there are children in the mix! Scraping spaghetti-o’s, off the ceiling when you’re up against a deadline might make you laugh, but it really does happen when you work at home with your kids. If you want the best of both worlds then there are some definite things you can do to make life easier, and make your time at home with your kids more enjoyable.

Stick to a Schedule:

It’s easy to slip into a non-structured life when you are at home all the time. This won’t be good for you, or your little ones. Use timers to keep everyone sane. Set the time for an hour, and then tell your child (if they are old enough) that when that timer goes off you will have lunch, or some on-on-one play time, or whatever. Make sure you and your little ones get to bed at the same time every night, and get up at the same time every morning. The more you can treat your at-home job like a normal 9 to 5 job, the easier it will be.

Face Your Finances:

Most people who stay at home take a pay cut to do so. Even if you don’t take a pay cut, there are still some complications that will come up while you work from home. If you are freelancing, or running a home based business, then your income could be unpredictable. Clients will sometimes pay late, or you may not earn the same amount of money from one month to the next. This can make budgeting very difficult.

If you are running your own business from home you will have to worry about your family’s finances, and your businesses’ finances.

There are a few things you can do to help overcome the unpredictability:

1. Have good budgeting software – Whether you use Quicken, QuickBooks, YNAB, or any other software, set aside a small amount of time each day to keep your records straight. The last thing you want to do is forget to invoice someone, or lose a customer’s credit card number.
2. Have a set place to put your paperwork – Take it from someone who has found important paperwork underneath her laundry detergent. It’s best to have a filing cabinet, an inbox, or a strategic place that is just for your important business papers. It should be an out of the way spot that is unlikely to attract the attention of sticky hands or prying in-laws.
3. Keep an Accurate Calendar – It’s ok to put business and family activities on the same calendar, since you are now incorporating business and family together every day. You can use a different color marker, or stickers, or anything you want to designate activities, but do keep the calendar.

   It’s easy to let payments, deadlines and details pass you buy if you aren’t careful. Keeping an accurate calendar is just like keeping your invoices and payments straight. Boring, but vital to the survival of your home based business.

Plan Your Vacations:

When you work a regular 9-5 job, you get vacation time, and sick leave. When you work from home you do not. The very best advice that I can give you is do not let your work take up all of your time. If you find yourself working late into the night, working all day on the weekends, or otherwise cutting into your family time, then it’s time to see what you can change.

When I first started working from home, it was a little overwhelming. I was used to quitting at the end of the day, coming home, and doing our usual routine. All of a sudden, that routine was gone. I could work whenever I wanted to, yes, but I actually found myself working more hours per day. I would let little interruptions through the day distract me (“Mama, I’m hungry”, “Mama, I’m bored!”, “Honey could you log online and check the bank account?”) and then I found myself working late into the night to make up the time. That is why I say, have that schedule first, keep an iron fist on your money, and have an accurate calendar – or it will all fall down around your ears.

Also, if the kids become too much to handle during the day, consider hiring an in-house baby sitter to come for a few hours a week. It will cost more, but you may find that you get more of your work done faster with a little help.

Regrettably, there is no real “recipe for success” here. You are going to have to find the balance that works best for you and your family. Staying on schedule, and being organized really is the key. If you can do that, everything will fall into place, and you will be able to enjoy the extra time at home with your kids – like it was meant to be in the first place!

Working from home. For many people it’s just a pipe dream, a fantasy that they don’t know how to make happen. It doesn’t have to be that way though. There really are a ton of ways to legitimately work from home.

Let’s talk about a few of those options, and some ways that you can change your job to fit your life.

Finding A Job Or Business That You Can Do At Home:

When you first begin your job search, it can be confusing, and a little intimidating. Don’t worry about that! You will quickly find ways of telling which work from home jobs are legitimate, and which ones are not.

Fair Warning: If you have to pay anyone a “set up fee” a “start up fee” or any other type of fee, it’s a scam. If it’s a legitimate job, they pay you to work, not the other way around.



Here are a few places that you can start your search for your ideal at home job:

1) Craigslist – When you check Craigslist, be sure to check areas that are local to you, as well as ones that are not. After all, there are employers all over the United States that advertise there, and if it’s an at-home job, you can live in one place and work for someone else no matter where they are.

2) Your Local Paper – Most businesses outsource things regularly. Everything from web design to lawn care. Keep an eye on your local ads each week – you’ll be surprised at what turns up.

3) Network – Your family and friends will probably be your very best resource when you first start looking for jobs that you can work from home. Put the word out that you are looking, and ask everyone you know to keep an eye out for you.

4) FreelanceWritingGigs.com – This is the web’s #1 resource for writing, and editing jobs. New jobs are listed every day, and the owners of the site are very thorough when they investigate job postings. The vast majority of jobs on this site are legitimate. There is an active community there too, so if a scam does slip through you can be sure that you will get plenty of warning from the other readers of the site.

5) Don’t forget to ask your current employer about working from home- There may be parts of your job that you would be able to do at home, and some companies do allow this. You will never know unless you ask. Working for your current employer might still require some office time, but depending on your job, it’s very possible that you can talk them into giving you at least part of the week to work from home.

6) Create Your Own Job – If you have a specialized skill like writing, editing, drawing or web design, you can put together a brief portfolio and approach clients on your own. This is an excellent way to grow your home based business on the side. Once you get enough steady income, you can give notice at your regular 9 to 5.

So, you might be saying, I can’t write, I can’t draw, I don’t know html….I don’t know medical billing codes…Is there any way I can still work from home?

Well, yes. It all comes down to knowing yourself. What are you good at? Do you love children? You can start an in-home daycare. Have you always wanted to home school your children? Why not offer to teach your friends kid’s too? There is a high demand for data entry, and customer service / call center representatives who work from home too.

The truth is, if you really want to work from home, then all you have to do is work hard to find a way to do it. Set aside a time each day to sit down, and go over your options until you find one you like.

Will Working From Home Fit Your Life?

After you have some idea of what you would like to do, your next focus needs to be, how can you make it happen? There is a huge misconception that working from home will give you more free time. After all, you don’t have that morning and evening commute anymore, and you can take off anytime you need to right?

Well, here’s the hard truth about working from home (and running a small business, if you take that step.) It will not free up time. In fact, time management becomes an immediate issue. You also should probably know going into it that none of your friends or family members will actually understand that you really do “work” while you are home. So while you may be able to take off and go to lunch once in a while, or re-arrange your schedule to fit your needs, it can be difficult.

Before you begin working from home, take an honest look at your life. How many hours will you be able to work? Will you have to stop and start to pick your kids up from school? Are there any days that you will not be able to work because you have other priorities? If you can nail down your schedule before you start your job, then you will be far ahead of most people who work at home. If you cannot, then you may find yourself back in the office in less than six months.

Setting up your home office:

Whatever you choose to work at while you are home, you need to have a specific space set up in your house. You will need a computer, a fax machine, a cell phone, a P.O. Box, and possibly a few other business necessities. The more you are able to treat an at-home job like a 9 to 5 job, the easier the transition will be, and the more likely you are to succeed.

The Financial Aspects of Transitioning To A Job Or Business Working From Home:

There are some very real financial challenges that you will have to face when you start working from home. Here are just a few:

1) Your at home job may not pay as much as your regular job did – You have two choices here. You can take the pay cut in order to have the freedom of working from home, or you can work both jobs at the same time until you go crazy (or until your at-home job replaces the amount of income you will need.)

I chose the second option, and I did escape with my sanity. I worked as a freelance writer nearly full time for a year, while working my regular full time job, with a newborn. It can be done. I’m not going to tell you that it was always pretty, but I did it, and my family and I are better off for it today.

2) Your clients will pay you late, and sometimes not at all – If you can get setup on payroll with an employer, then you will not have to worry about this. If you are freelancing though, it comes with the territory. The financial challenge here is that you cannot count on the money until it is in your hand, so budgeting can be very difficult.

3) Have a healthy savings account before you take the plunge – There is no guarantee that the money people owe you will come in regularly. Having that savings account to fall back on will make all the difference between success and failure. If you have some good personal budgeting software, and you keep a close eye on your expenses then the transition will be much easier on you and your family.

If you are in debt, and you want to work at home, then the best thing you can do is start your business on the side, work the extra hours, and make the transition as gracefully as possible.

Make sure you set a savings goal. Once you meet that goal, then consider working full time from home. If you choose to jump into a full or part-time job at home with no savings, then you are probably defeating yourself before you even begin.

The funny thing about freelancing at home is that it will highlight every area of your life that you might normally ignore. Money management becomes paramount because your income is unpredictable. Time management is essential because sometimes your days will be unpredictable.

The rewards of working at home are amazing. I have time with my daughter, we save money because I have time to cook, and we no longer eat out. I can rearrange my schedule to fit my life to an extent, and overall, I feel very blessed to lead this life. However, it does take a lot of organization, determination, and plain old hard work – three things that don’t usually factor into the “fantasy” of working from home.

If you really are interested in working from home, then I would definitely encourage you to check out the resources above. Try picking up some work on the side first, and ease yourself into a full time at home job. Based off of my own experience, I believe that doing things that way will give you the best chance for success. Good Luck!

This review of work from home options and how they fit into your life and your finances is part of the Career Finances Guide.

1. Keep the number of individual and family portraits small – If you are hiring a professional photographer then you will probably want to limit the number of posed photos that you take. These types of photos really raise the tally on your photography costs.

   Consider just doing candid photos instead, or have your family do a “dress rehearsal” at a local photography studio. After all, what you really need your photographer to shoot is the events at your wedding.

   You can have those family photos taken any time, anywhere. You cannot redo the exchanging of your rings, walking down the aisle, or that first married kiss. Save your photographer for those special moments, and do the family portraits another time.

2. Place Cameras on the tables at your reception -You can always hire your professional photographer just to shoot your wedding, and then ask your guests to shoot candid photos at the reception. We did this at my wedding, and our guests really enjoyed doing it. Usually the people who enjoy taking pictures the most will pick up the camera, and we got a ton of fun shots on every subject, from every angle – someone even arranged their reception food on their plate and photographed it!
3. Ask a photography student – Call your local university or art school and see if they have anyone who would accept a discounted rate of pay so that they can build their portfolio. Be sure that you look at their past work though, because their style and idea of what is beautiful may not match yours. These are photos that you will keep the rest of your life. If you can find a student who’s vision matches your own, then this is an excellent way to save money on your wedding photos.
4. Ask a friend (or two) that’s interested in photography to take your photos for you - Having two “official” photographers will actually make things run smoother, and quicker – and you’ll likely get some wonderful candid shots as well.
5. Get the negatives! (Or a Disk) - No matter which photographer you use, make very sure that they include the original negatives or a disk containing all of your wedding photos in their price. That way you can go back and make as many prints as you want, or even edit specific photos and enlarge them.
6. Check your local newspaper and Craigslist for photographers – many of the listed photographers may not shoot weddings specifically, but would be willing to do it for you if you asked them. Their rates will usually be much lower than an official “wedding” photographer, and the picture quality will likely be just as good. Always ask to see a portfolio of their work before you hire them.
7. Decide on exactly what you want – You may be able to negotiate the price downwards if you want fewer specific photos. If you decide what is most important to you then you can make sure that the photographer delivers those shots – without paying for a lot of extra ones that you may not have wanted.
8. If you hire a professional wedding photographer, ask them for a discount - Most professionals will be able to offer you a discount if you ask, or you can simply buy a smaller package of photos. Most wedding photographers will be willing to negotiate with you if they want your business.
9. Make your own wedding album – We paid hundreds of dollars to have our professional wedding photographer lay out our wedding photos in a big, white leather bound album. While it is undeniably beautiful, you can get the negatives, or a disk of your wedding photos, and do it yourself. Shutterfly, and Walgreens both offer nice, leather albums at a fraction of the cost.
10. Do your research – Before you hire a pro, shop around, check prices, and ask the professional of your choice to price match, or negotiate. Look carefully at everyone’s backgrounds, and portfolios. You might actually be able to get a cheaper photographer who does a better job, you just have to put in the footwork.

Here are some other ways you can save money on your wedding:

• Save money on your wedding dress
• Save money on a destination wedding
• Save money planning your wedding

This list of ideas to save money on your wedding pictures is part of the Marriage Money Guide.

Photo Credits: pixcellence.co.uk

With all the money spent on your wedding the last thing you want to do is break the bank on your honeymoon. You still want it to be a beautiful, romantic trip to remember though! Here are a seven ways to get the most out of your honeymoon without spending a fortune:

1. Make a budget first - Traditionally it is the responsibility of the brides family to pay for the wedding, and the groom’s family to pay for the honeymoon. However, few people today follow the old traditions, which means that more and more couples are paying for both their wedding, and their honeymoon.



If you are the ones footing the bill, make sure you create a budget that includes your honeymoon! It is so easy to spend all of your money on your wedding, and hope that you have enough left over to take the trip of your dreams – don’t count on it! Make that budget, or you may find yourselves with a less than desirable honeymoon location. Even if you do not have a lot of money you can still have a beautiful honeymoon celebration in the location of your choice, you just have to work within your own budgetary guidelines.




2. Consider a Honeymoon Registry - Plenty of people have bridal shower and wedding registries, but did you know that you can create a honeymoon registry as well? This will let your friends and family donate directly to your honeymoon fund to purchase your airfare, or hotel rooms.

   It’s a good idea to let people know about this as early as possible. By the time you get married any money that is donated may be too late. Best to mention it before your bridal shower instead of right before your wedding.

   There are several ways to start a honeymoon registry, but the easiest is to contact a travel agent in your area. You can also find out more about honeymoon registries when you click here.




3. Plan your wedding and honeymoon in the off season - It’s no secret that every tourist destination has an off season. During those times, you can always find amazing deals on just about everything – your hotel, plane tickets, even cruises or total vacation packages. You don’t have to go way off season either. Just target your dates slightly to either side of the peak seasons, and you can travel for less. Sometimes thousands less.




4. Use your travel agent - Travel agents offer a ton of resources. They can help you book the cheapest flights, save on your hotel rooms, and get you package deals at a discount. The money you can save with them should more than cover the cost of their fees. After all, this is what they do every single day, and for your once-in-a-lifetime honeymoon, trusting an expert to take care of the details will save you a lot of stress, and still let you get the most for your money.




5. Go on a cruise - Whether you want to see the northern lights or explore ancient Mayan ruins, there’s a cruise that goes there. Cruises are ideal for honeymoons because they are package deals. You get everything (or almost everything) for one low price. When you choose to go on a cruise for your honeymoon, you will not have to worry nearly as much about what things cost once you get there. Most meals are included, and you can arrange your on-shore outings before you leave. No surprises, just a fun time.

   Besides cruises are known for their good food, great entertainment, and on-ship amenities like spas. They really can be all-in-one dream vacations. The off-season rule applies here too, you can save a lot if you go during a slow month. You can use the internet to compare packages, prices, and off peak specials. Just google “cruise” + your desired destination.




6. Consider having your honeymoon close by - My husband and I went to a tiny little tourist town about an hour away from us. We booked early, and online, and got a free night’s stay at the hotel. We had an amazing time because there was no pressure, no flights to catch, no phone ringing…just us. IT was very romantic, and I will never forget it. We got all of that for under $500, and that included our meals while we were there. So, it doesn’t have to be expensive, and it doesn’t have to be far away to still be one of the most amazing memories you will ever have!




7. Tell people you are on your honeymoon - you will be really surprised by some of the free things you will get. Everything from free drinks, to free items, to hotel room upgrades, to free tours. Everyone loves a couple in love, and you can definitely take advantage of it during that special time!




8. Consider a timeshare, or beach house - Have a talk with your relatives before you make your honeymoon plans. See if anyone they know has a timeshare, or beach house, or cabin that you could borrow or rent cheaply. There are fewer things more romantic than a cabin or house on the beach where you and your love can spend some time together. If you did something like this you could focus what money you do have on your honeymoon activities instead of the cost just to get a room somewhere.

The most important tip is really just to look for deals wherever you go. Your honeymoon does not have to be expensive. If you plan early, and ask for a discount every time you can, then chances are you really will have a much nicer honeymoon for less money than you expected to spend on it.

For other ways to save money on your wedding, read how you can save money planning your wedding without spending a fortune and how to get the most for your money when you register for wedding gifts.

This review of honeymoon ideas that are fun but more affordable is part of the Marriage Money Guide.

Photo Credit: Tahiti Experience.com

Creating a wedding registry is one of the best parts about getting married. (Besides the fact that you’ve found the love of your life, and you’re about to embark on your happily-ever-after.) Here’s the quick and simple guide to get the most out of your wedding registry with the least amount of stress:

• Understand that not everyone is going to use your registry - No matter how well meaning she might be, your Aunt Fanny is going to go right ahead and buy those $30 faux crystal candlesticks. Love her, and let it go.




• Skip the fondue pot, pasta maker, and anything else that slices, dices and also makes julienne fries – Trust me, you are going to regret it later when you only get four place settings of china and have a brand new chocolate fountain. Don’t put this stuff on your registry at all, or people will buy it for you.




• Do keep your registry simple - Put only the things you really want on your registry, and you will not end up with assorted items that gather dust and take up space in your future garage. Many of us get giddy at the idea of all those gifts, and the result is that we go hog wild with the registry. Please don’t make that mistake! Better to register for fewer things that you really want than to have pages and pages of possible gifts for people to sift through when they print your registry.
  
  
  

• Do register at a store chain that is available to all of your friends, family, and guests - It’s important to understand that not everyone who will send you a gift will live close to you. I had friends of our family on the other side of the United States send me gifts. Please keep your far-flung relatives and friends in mind. Choose a store chain to register with that is big enough for them to get to locally, or has an easy to use online registry search.




• Consider creating at least two registries, one high dollar, one low dollar – We registered at Dillard’s, and Target – While neither one of them is particularly high dollar, Target was a definite value option for those friends and family who did not have a lot of money, but still wanted to give us a gift.




• Do register for your basic household appliances if you do not already have them, or need new ones – A vacuum, a microwave, a good set of knives, even a carpet steamer, or an iron and ironing board would not be out of place here. I mean really. would you rather spend your hard earned money on a carpet steamer, or be grateful that your family loved you enough to buy you one and spare you the expense? You might even end up with a nicer one than you would buy for yourself.




• Do include a shipping address on your registry - Not everyone will want to bring your gift to the wedding, and you need to have a secure shipping address listed so that they can have your gifts sent directly to you.




• If possible, allow your guests to choose gift cards as a registry option - Target offered this when I registered, and many more stores are now starting to. This will help you fill in the gaps between what people bought you, and what you still need for your new life together.




• Do register for china, silverware, and enough place settings for at least 8 people - You in-laws will come for Christmas eventually, whether you want them to or not. The best you can hope for is to at least have matching place settings!




• Encourage your guests to pool their money - If you have several expensive items on your registry, then it makes sense to ask people to pool their money. You only need so many salad spinners, bathroom towels, and kitchen gadgets.




• Do not be afraid to ask for money, but DO tell your guests what you plan to use it for! - Many of your guests may buy you a gift for your bridal shower, but give you money for your wedding. A polite thank you note explaining what you intend to do with the money is a beautiful thing to do to repay their kindness.




• Do not register for duplicate items - We made this mistake and ended up with a couple of duplicate items. If you register at more than one place, make sure you print the list from your first registry and have it handy when you do the second one. Also, do not assume that you can remove items from your registry. We found things that we liked at both Dillard’s than Target, but Dillard’s was slow to remove the registered items when we tried to fix them online.




• Stay on the lookout for freebies, warranties, and rebates on the items your guests give you - Save any gift receipts, and get money back where you can.




• Be prepared to return duplicate or unwanted gifts - You will probably get them, there is no way around it. Make sure you schedule a day to go around and return things for cash, or store credit whenever possible. If possible, keep the gift giver in the dark about it, they gave the gift out of their love for you, and it’s better not to embarrass them or make them angry over returning a gift.




• Do get everything you can for free before you register – Before you register as a couple, talk frankly to your parents and family on both sides. Find out if they have used items like vacuums, etc. before you register for them. If you can get some things for free, or very cheaply from your family members, you can register for other things that you need instead.

Above all, please remember that registering for practical items will serve you best. The intent behind wedding gifts is that in a way, they help give the new couple the foundation of their future home together. If you register for things that will not help you build your new home into a happy place, then both you and your guests will miss out on this opportunity.

Be sure to check out ways to save money planning your wedding and how to save money on a destination wedding.

This checklist of tips on how to get the most for your money when you register for wedding presents is part of the Marriage Money Guide.

Photo credit: Zimbio.com

Chances are, the first thing you will want to do when you find out you are going to be married is to start planning!

Whether you’re dreaming of having a large traditional wedding, or an intimate gathering of close family and friends, it can be easy to go overboard in the planning stages.

There are so many things to consider; the location, the dress and tuxedos, the reception – all the way down to the favors you will give your guests and the time of day you want to get married. With that in mind, here are some realistic strategies for planning your wedding without breaking the bank!

Do It Yourself:

Planning everything yourself can be time consuming, strenuous, and more than a little intimidating – but it doesn’t have to be. There are some excellent tools available to help you organize your wedding plans, and help you bring everything together seamlessly so that you can have the wedding you’ve always dreamed about.

Wedding Planning Software:

You can use inexpensive wedding planning software to automate many of the time consuming tasks that planning a wedding involves:

• Keep track of your wedding budget
• Maintain a calendar of appointments for fittings, food tastings, meetings and photography
• Have an accurate and up to date guest list
• Design the perfect seating arrangement for your reception guests
• Track bridal shower and wedding gifts
• Keep an address list for thank you notes

There are dozens of software programs out there for you to use when you plan your wedding, but a few stand head and shoulders above the rest.

• Smart Wedding - for $34.99 you get all of the necessary planning functions, as well as the ability to print both the inner and outer envelopes for your wedding invitations.
• EZ Wedding Planner - This is a free planner that also comes with several guides including music and registry suggestions, and a quick guide for the bride and groom. It also features checklists for your photographer, and an etiquette guide that explains who is supposed to pay for what.
• My Wedding Companion - This software has a free 30 day trial and uses a “fill in the blanks” budget option that takes most of the guesswork out of planning your wedding. You can simply eliminate expenses that you don’t want, and add in anything that is not featured.

If you choose not to use software to plan your wedding, you will want to make sure that you are very organized. Otherwise, you might find some of the smaller details slipping through the cracks. After all, the last thing you want to do is to forget your rings on the big day, or forget to tell your photographer that certain family members need to be photographed.

In addition to using software, and keeping a folder designed specifically to keep track of your details, you will probably want to enlist the aid of a close friend or parent. Have this person help you run errands, oversee the seating arrangements, check to see that the cake is delivered and set up correctly, and anything else you think they might be willing to do to help out.

In fact, if you can get three or four volunteers, it will reduce your stress considerably. This is your big day! Do whatever you can to spend it thinking about walking down that aisle (or seeing your bride walk down that aisle!) instead of worrying about whether or not Aunt Mae was seated next to her ex-husband, or if you contracted the caterer to serve enough food. Plan beforehand, get help, and then let it go and relax. Weddings rarely come off without a hitch or two, so if you have covered the details well enough, then no matter what happens, you will still have the wedding you dreamed of.

But what if that’s not enough? Hiring a professional:

Sometimes there is just no way around it – you need help, and you want someone else to handle the small details so that you can focus on the best parts. That is where a professional wedding planner comes in. The truth is, no matter how diligent you are, how many hours you spent planning, or how much money you spent, things will go wrong. You can’t be expected to handle every issue that comes up on your wedding day – You’ll be busy! That is where either a very good friend, or a wedding planner steps in.

What does a wedding planner do?

Hiring a wedding planner offers you several unique benefits:

• They’ve done all this before – what is new to you is old hat to them. They expect the emergencies, and the good ones are there with bobby pens, duct tape, face powder and even a sewing kit to take care of whatever you need on your big day.
• They have a Rolodex full of connections – They already know the best florists, photographers and bakeries in the area, and they know where to go to get you exactly what you want.
• An experienced wedding planner can help you stick to your budget. They will know where you can cut corners, and they will work with the staff at your wedding and reception sites to clear up any problems before you even notice them.
• No matter how well you plan, you can’t be everywhere at once. Having someone there on your wedding day, someone that you are paying to be there and take care of things, can give you enormous peace of mind. If something needs to be done, re-done or dealt with, they will do it, not you, and most likely, you will never know that your wedding was anything but perfect.

You might be thinking “Well, sure, that sounds great, but I can’t afford to hire a wedding planner!”

Remember that you can always negotiate the fee with your wedding coordinator. Ask if they can lower their rates if you take on some of the responsibility yourself, or have family members agree to oversee those parts instead. Shop around, and don’t automatically accept the first reasonably priced person who comes along. Check their references, talk to their past clients, and evaluate them well first.

Be sure that you are hiring a wedding planner that you can trust. If you do, then their fee will seem well worth it in the end because you will wake up the morning of you wedding excited, happy, and a whole lot less worried about what will happen if something goes wrong.

There are a few other ways to outsource parts of your wedding to help you focus on the main event:

As you plan your wedding, you are probably going to consider hiring a photographer, a videographer, a florist, a caterer, possibly a band, or entertainment of some sort to play at your reception.

Draw up a list of every professional you may need to hire, and work them into your wedding budget so that you know what you can afford before you sit down with them. Otherwise, you could end up spending way, way more than you planned to!

You should also make up a list of questions that you want to ask each professional. Do not forget to ask for discounts either! Most places offer them, but it’s just like anything else – they aren’t going to lower that bill for you unless you specifically ask them to!

One last word of advice: Study any contracts you sign very carefully. My husband and I needed to change the date of our wedding twice before we finally got a date that worked for us as well as our guests. Unfortunately, we lost money on our first reception booking because we did not give them enough notice. You need to understand exactly what the limitations of those contracts are, when the payments are due, and what, if anything you will get back if you need to cancel with them, or change your dates.

This is one of the most special, amazing days of your whole life. Don’t let the planning of it stress you out. Set your wedding date far enough in advance that you have room to make any necessary changes. Accept all the help you can get – whether it’s professional, or family.

As you plan, please try to remember that this day is all about you and your sweetheart. In ten years, the fact that your ring-bearer sneezed all over the altar, or that your cake was slightly lopsided – well, none of that will matter. Only the emotions and memories of that day will matter, as will the life and love that you will share together from that day on.

If you’re going to be planning a destination wedding, check out the article on how to save money on a destination wedding.

These tips for planning a wedding on a budget are part of the Marriage Money Guide.

Photo Credit: Flickr.com

Jetting off to an exotic location surrounded by your closest friends and family may not sound like a cheap way to tie the knot, but the truth is it can actually cost far less than a traditional wedding.

If you are interested in planning a destination wedding, then here are eight tips to save you even more money on the happiest day of your life.

1. Give yourself as much time to plan as possible – Booking your flights and hotels as far in advance as possible will save a considerable amount of money for you and your guests. Keep in mind that when you plan a destination wedding, the polite thing to do is to pay the hotel and some meal expenses for your guests. Guests at a destination wedding are typically expected to pay for their own flights, but not much else.




2. Consider hiring a travel agency instead of a wedding planner – Travel agents can often get you, and your wedding party an excellent deal on almost everything. Many of them are also familiar with the marriage laws in foreign destinations. Hiring someone to take care of these things for you will save you time, stress, and money in the long run.




3. Consider getting married in the off-season – Flights, hotels and nearly everything you can imagine will be cheaper this way. Now, I am not telling you to get married on a beach in the middle of winter! If you can time your wedding just before, or just after the area’s peak season, then all of the associated discounts are yours for the taking.




4. Keep your guest list small – Having a destination wedding gives you the perfect excuse to pare down your guest list. After all, not everyone is going to be able to take off work and travel to your wedding – no matter how much they might want to. By keeping your guest list to the bare minimum (i.e. the wedding party, close family, and best friends) you will have the people there that really matter to you and your future spouse, and you will get to spend a lot more time with them before and after the ceremony.




5. Always ask for a group discount – Both hotels and airlines offer excellent group discount rates when you have parties of ten or more. The best way to maximize your money is to combine group rates with early bookings and off-season specials. If you can manage to do all of those things, then you could save as much as 40% off of your total travel costs.




6. Consider getting married at a resort, or on a cruise – Destination resorts and even some cruise ships often keep a wedding planner on staff. The planner they provide to you will already be familiar with the local caterers, bakeries and florists, and they can usually help you save money on every aspect of your dream wedding.




7. Buy a “package deal” – Destination resorts also usually offer pre-planned wedding packages where all you have to do is make a few decisions, and then show up for the big day. The wedding packages range from simple and elegant, to the truly extravagant. If you take some time to research online, and call around, then you should not have any trouble finding a package that fits your needs, and your budget.




8. Give simple favors to your guests – Suntan lotion, local chocolates and specialties, or even a group scuba trip are all nice ways to treat your guests to the local culture and encourage them to have fun – without spending a ton of money.

Don’t be fooled:

Paying for your wedding guest’s food and lodging might seem outrageously expensive, but if you put it in perspective, it’s really not. Consider this:

If you stayed at home, rented a church, and had a large traditional wedding with a sit down reception you could end up paying upwards of $50 – $100 per guest. Getting married locally would encourage everyone you knew to attend, so that $50 to $100 per person could easily turn into $5,000 – $10,000 dollars if you have close to 100 guests.

A destination wedding on the other hand, requires only that you pay for the hotel rooms and several of your guest’s meals. Some resorts will even offer you a free wedding package in exchange for booking your group into their hotel!

If you took ten people to your destination wedding, and paid an average of $500 each, you would still only be out $5,000 on your guests. And you would have a more intimate, romantic setting for everyone involved.

Where ever you choose to have your destination wedding please be sure that you give yourself and your guests enough time to get passports, book flights and take off of work. This will be one of the most special days of your entire life. Careful planning will not only make things run smoother, but will save you a lot of money in the end.

Check back for the next article in the series where we look at how to save money when planning a wedding yourself or hiring a wedding planner

These tips on saving money on a destination wedding are part of the Marriage Money Guide.

When it comes to commodities investing there are an unbelievable number of scams out there.

I am not kidding when I say that there are literally hundreds of companies out there just waiting to railroad you through the door, part you from your money, and happily send you straight to the gas chamber.

I know we’ve talked a little bit about how to decide what a good commodity investment might be.

So, I wanted to conclude this series by giving you the information you will need to avoid the evil villains of the investment world, and hopefully, get your financial happily ever after.

The secret to spotting commodity scams:

There is one major test that every single commodity scam will fail:

They will promise to make you a lot of money fast, with little to no risk.

• Penny stocks to make you rich!
• The next Berkshire Hathaway!
• The price of Gold/Wheat/Oil is going to skyrocket, get in on the ground floor!
• They all boil down to one simple thing: Get rich quick! No risk!

Now, frankly we are all smart enough to realize that there is no such thing as “get rich quick”. You wouldn’t be here reading this blog if you weren’t. However, there are not many things in the investment world that are as risky as commodities. Particularly commodity futures. If someone is telling you there is little to no risk involved, turn around and run the other way as fast as you can!

There are also a few other notable ways to spot a scam.

1. Long “squeeze” pages - We’ve all seen these. They are single page advertisements on the internet designed to keep you reading and convince you to act against your better judgment. If you land on one of these pages, click away as quickly as possible. Nothing good can come of it.
2. They are in a hurry to get your money – “Prices will skyrocket in the next few days!” or “Invest now before it’s too late.” Seriously, we’ve probably all bought enough junk off of infomercials that we should know better by now! I still have that stupid Ab belt from the 1990’s. You know the one I mean – the one that delivers low grade electrical shocks and promises a 6-pack. Didn’t work for me! And these basic commodity and futures scams are no different.

   Legitimate companies and investment opportunities don’t need to come and beat your door down to get your money. They are already making enough profit on their own. That brings me to my third and final point.

3. If they appear to “need” your money in any way, shape or form - Run away. Far away. If they are calling you at home, emailing you, or cyber-stalking you in any way, drop them like a crazy ex-girlfriend and head for the hills!

Always take these steps before you invest your money:

• Find a legitimate broker, and make sure that you get a risk disclosure document. Your broker is required to give it to you by law. Anyone who tries to tell you it’s “just a formality” is scamming you.
• Explore your options carefully.
• Sleep on your options. At least overnight, maybe several nights, before you invest your money.
• Only invest in funds that have a minimum of 3-5 years of solid performance.

Follow those rules and you are far less likely to wind up on the bad end of a commodities deal. There is so much risk involved in commodities anyway, why choose a risky company to invest with?

For more information on commodity scams you can check out The U.S Commodity Futures Trading Commission web site.

I hope that you have enjoyed this series on commodity investing as much as I have enjoyed writing it for you. If you liked it, you can offer your feedback here for a chance to win $50. Thanks!

The Princess Bride photo is © Twentieth Century-Fox Film Corporation 1987.

Writer Auditions – Author Connie Brooks – Offer Your Feedback

Last time I filled up my gas tank it cost me $64.28. As I was standing there at the pump I started thinking.

I realized I had absolutely no idea why the price of gas was so high.

I mean sure, I get emails from MSN money every day telling me that oil hit a new record high.

I hear mutterings about China, and problems in the Middle East.

But, when it came right down to it, all I really understood was this:

I’m getting squeezed at the pump – and I want to know why.

So, with that in mind, I thought I’d do a little digging, and share with you what I learned.

Basically the price of gas breaks down like this:

• Federal, State and Local Taxes account for about 15% of the price per gallon.
• The price of crude oil accounts for roughly 55% of the price per gallon.
• The cost of refining the oil is about 15% of the total price per gallon.
• Advertising costs also make up about 15% of each gallon of gas.

This is just an average breakdown. The actual numbers vary from year to year and company to company.

Now, the taxes I understand. I’m not happy about it, but I get it. I also understand the refining costs and the advertising costs. Based off of these numbers, I decided that the main reason I am getting my pocket picked twice a week when I fill up has to be the base price of crude oil, which is at an all time high.

So, what’s going on with crude oil?

High Demand:

Right now there is a booming commodities market where there used to be hardly any at all. Namely, all over Asia – especially China and India. They are demanding all types of commodities in quantity, especially oil. Over here in the U.S. much of the way we live our lives also depends on oil. Not only do we put the refined version of it into our cars as gas, but it’s used in everything from plastic bags to Styrofoam. Even though oil prices are at an all time high, our demand is not really decreasing.

Low Supply:

There have been disruptions in the supply of oil all over the world in the last few years. Nothing that would normally make much of a difference, but when you couple it with record demand for oil and oil based products, it is pushing the price up. Here are a few specifics:

• In April of 2008, Nigerian rebels launched attacks on Exxon Mobil. They temporarily stopped production of 800,000 barrels of oil a day.
• On July 18,2008 Eni SpA (Italy’s largest oil company) also stopped production in Nigeria because of faulty pipelines. They will lose 47,000 barrels a day until the problem is fixed.
• Saudi Arabia (which claims to own about 21% of the world’s oil) isn’t exactly falling all over itself to increase production – but they are finally going to. The good news is, they are planning to increase oil production by as much as 500,000 barrels per day starting this month. (July 2008)

Fear of a Limited Supply:

Many economists buy into a theory that we are reaching “Peak Oil.” That’s the theory that the world’s oil reserves are limited and that we will eventually hit a point where we reach a maximum output. A place where companies will begin to cut back on production to avoid running out of oil.

While there’s no arguing that oil reserves are limited, exactly when we will reach “Peak Oil” is anyone’s best guess. With the increasing demand from Asia, this theory is getting more and more attention.

Some people even speculate that Saudi Arabia has refused to produce more oil because they are afraid of reaching a “Peak Oil” phase sooner than anticipated.

War in the Middle East:

Obviously, things aren’t looking too good over there. If Iran is attacked and they actually back up their threats by closing off Straits of Hormuz then they would effectively cut off one fourth of the worlds oil supply. If that does ever happen, oil prices at $200 a barrel will seem generous. The threat of that alone is probably driving oil prices higher than they have to be.

The Declining Dollar:

In some ways, it appears we can thank the housing bubble for the rise in oil prices too. The price of oil is measured in U.S. Dollars. When our dollar value declines compared to the rest of the world, then the price of oil goes up because it takes more dollars to reach the actual value of a barrel. (Gotta love that logic!)

It’s our fault too:

Yeah, I know, that’s a hard one to swallow. Still, some economists believe that as the U.S. economy takes a dive, most investors start looking for “safe” places to put their money. Usually, they turn to commodities. This actually drives the price of those commodities up because of the sudden increase in demand.

So, what do I think about all this?

There are some investors who believe that oil prices are in a bit of an unnatural bubble right now. While I do agree that prices are at record highs, I also believe that this is just a natural part of the commodity process. Commodities run in cycles. When demand outstrips supply, prices rise. Usually there is a short period where supply stays low, and prices stay high.

Eventually, more and more companies with $$ signs in their eyes jump in and increase production. In the mean time, we (the consumers) simply find ways to do without whatever it is as often as we can. So, eventually the increased supply and decreased demand helps the price to “right itself”.

There are a couple of wild cards in this scenario. Mainly the increased demand from developing countries and the threat that we may be running out of oil sooner than anticipated. Still, I believe that eventually the price will right itself (though I don’t think the price of gas will ever return to it’s pre-cycle lows).

In fact, I think that if you truly understand the principles of supply vs. demand, as well as how the economy, and government factor in, then you can apply that knowledge to any commodity. The same rules are still going to apply, whether you are talking about oil, or oranges.

Allright. I’ve told you what I thought – It’s your turn!

Do you think we are about to see a turn around in gas prices? Do you think now is a good time to begin investing in oil, or a good time to start selling your shares?

Let me know – you can use the comment form below! And, if you loved (or hated!) this article, then this post explains how you can offer your feedback for a chance to win $50. Thanks!

Photo © Connie Brooks

Writer Auditions – Author Connie Brooks – Offer Your Feedback ]]> 6 http://moneysmartlife.com/investing-in-commodity-etfs-an-ounce-of-research-is-worth-a-pound-of-gold/ http://moneysmartlife.com/investing-in-commodity-etfs-an-ounce-of-research-is-worth-a-pound-of-gold/#comments Sat, 26 Jul 2008 14:48:28 +0000 Connie Brooks http://moneysmartlife.com/?p=931

In our last post on commodities investing we talked about why you might want to start investing in commodities, and what a few of the investment options were.This time around we’re going to take a closer look at commodity Exchange Traded Funds (ETF’s.) and how to research them.

When you decide to invest in a commodity ETF, there are a few things you need to consider:

• Do I want to invest in a single commodity like gold, or multiple commodities like oil and natural gas?
• Do I want to invest in commodities within a single country like the USA or China, or several countries at once?
• Do I want to invest in an ETF that actually holds the commodity (like gold) or an ETF that simply buys stock in the companies that hold the commodity?

The more research you do, you are going to find that there are nearly limitless ways to add commodities to your portfolio.

For simplicity’s sake we are going to pick just one, the iShares Dow Jones US Energy Sector Index Fund (IYE) and do a quick walkthrough of how you would decide whether or not it’s a worthy place to invest your money. The IYE tracks the energy sector of the Dow Jones Index.

Please do keep in mind that I am not a financial advisor – I don’t even play one on TV. I am giving you the method I use when I start to research a potential ETF.

It is worth saying that your financial adviser should also be able to answer all of these questions for you before they ever invest your money. Print this out, take it with you if you like. The more informed you are about where your money goes, the better off you will be.

ETF criteria generally looks like this:
The IYE:
(All screenshots are from ShareBuilder.com)

How long has the ETF been around? If you are using commodities to offset the risk in your portfolio, then you are going to want to choose an ETF that has been around long enough for you to get a good idea of how well it has performed in the past. Now, exchange traded funds are a pretty new phenomenon in the market, so as long as they have a history going back at least three to five years you can get a general idea of where they stand.

How much does it cost to run the fund? This is called the ETF’s expense ratio, and it’s the amount that they take off the top, just like a mutual fund’s management fees. You’re going to be looking for an amount around .25% and not more than .50%

You can see from the screen shot above that they IYE has an expense ratio of .48% – That’s a little high, but still within an acceptable range. If this is difficult for you to read, you can click here to open up the same information in a new window.

How are the ETF’s assets allocated, and what are they worth? Start by looking at ETF’s that have a total worth of at least $200 to $500 million dollars. (IYE fails this test) You are also going to want to look at how many shares they trade a day. A minimum of 100,000 to 200,000 shares traded each day is a good place to start. (IYE fails this test too!)

As far as asset allocation, that is going depend on what your goals are. In my opinion, IYE fails the diversification test. They are invested in several major oil companies, but I do not like that Exxon Mobil is 23% of the entire portfolio. I would prefer the main holding to be around 15% of the overall portfolio. In fact, the more diversified the better, because it exposes me to less risk. However not all investors are as interested in that as I am. You may find there are times where you willingly accept a little more risk in the hope of making a better profit.

How well has the fund done in the past? If you are planning on long term investing, the look at the performance of the fund since it started. If you are looking to invest short term, I’d look at how well the ETF did for the last 6 months to a year.

How high are the highs and how low does it go? Again, for stable long term investing, look for an ETF that’s worth stayed relatively stable, without huge peaks and valleys. This chart shows the ups and downs of IYE over the last month – It’s on a downward trend.

The Price to Earning Ratio - The P/E ratio is basically the share price divided by earnings per share. I mention this here because it is important, but I want to note that the P/E ratio for an ETF is not calculated in the same way that a P/E ratio for an individual stock is. So, while you may look at this first when considering an individual company, it is not really the best indicator for an ETF. For more information on why that is, you can check out this article.

Once you take all of these factors into account, and the investment still looks good to you, then you will want to request a prospectus from the company. This will go into far more detail than just what you see here, and it should answer most of the other questions you have about the stock and the management company.

What do you think? Based off this outlook would you consider IYE a good investment? You can give us your opinion in the comments section below!
The Beverly Hillbillies promotional photo is ©CBS Television. ShareBuilder screen shots are © ShareBuilder.


Writer Auditions – Author Connie Brooks – Offer Your Feedback