Reflections on a Year Soon to End

Mostly everyone I have talked to over the past few days has made a similar remark: 2009 seems to have gone by fast. Starting with the seating of a new president in January through the bankruptcies of GM and Chrysler months later to the halting of much of the financial bloodletting by the fall months, a lot took place this year.

But it seemed to move at lightning speed, at least that is what some people have told me.

2010 is upon us and I have just one question to ask: how will you pronounce the new year? I’ve been mulling this for a few years now and am inclined to say “twenty-ten” instead of “two thousand and ten.” Twenty ten is short, to the point, and returns us to the pronunciation style we favored in the 20th century.

Still, I am hearing most newscasters and everyday folks pronounce the latter, therefore I am presuming that the lengthier, more cumbersome five syllable utterance will beat out the three syllable vocalization, at least initially.

I trust that your holiday season has been a good one, though it certainly has been trying one for several people. Just yesterday I talked with a friend who lost his job in May, who commented how much different the job search was for him this time around. As an engineer, he was used to losing his job from time to time only to regain a new one almost immediately, but nothing quite matched his experience in 2009.

Instead of receiving replies from companies about his job inquiries, he heard absolutely nothing. This went on for months until, finally, in November one query returned a contract opportunity which may last him until June.

I say “may last him” as we both know that contract gigs can be canceled at any time. He believes the job will be around for most of that time, but he is not relying on that happening. Instead, he will be launching his new business in the weeks ahead and joining the growing numbers of people who were downsized at the height of their careers and have decided to make a go of it on their own.

Anyway, what choice do most people have? It is not as if there are many jobs out there. At least good paying ones at that.

I am not about to harp on 2009 as the past is just that: gone. Like my friend who is launching his new business, I’ve decided to keep my eyes focused on what lies ahead. We have both entrusted our businesses into the capable hands of Almighty God, knowing that His guidance is more than sufficient for 2010 and beyond.

This will be my last post on Matt’s Musings for 2009, with a forward looking tips article to be posted here on New Year’s Day. Many thanks to each of my readers as your loyalty has helped sustain me through much of the past year.

Photo Credit:  Billy Alexander

Recession Or Not, Keep Your Savings On Track In 2009

For 2009, will you find yourself breaking into your savings or do you have a plan in place to save no matter how bad the economy tumbles?

Some of the talk on cable news lately has been down right gloomy. For sure, the federal government’s $700 billion bail out program has gripped the news these last few months of the year as has the realization that our country, even in the entire world, has slipped into a recession. Quite easily, we can pull back on our plans and think about writing off 2009, hoping that 2010 will bring sunnier days our way.

Life Goes On

I don’t know about you, but I can’t afford to put off some things for a full year, as life goes on. Certainly, as someone who is both a small business operator and a family man I’ve been reviewing expenses, cutting back on unnecessary expenditures, delaying business trips, and putting off a project or two, but there is one area where I won’t cut back on and that is our personal and business savings.

No, I’m not suddenly awash in cash, but I know that if I don’t continue to save, then I’ll end up having to pay more later. Saving money isn’t as painful for us as some people make it sound, but it does take discipline. Please read on for some tips on how you can save more money in 2009 without missing a beat:

Christmas Club — Few banks still offer this nifty savings vehicle, an excellent way to save holiday cash to buy what you need and want for the Christmas season. True, cutting back on gifts is one way to handle the holiday, but chances are you have an amount in mind that you want to have available each year. One terrific way to save is to have funds withdrawn automatically on a weekly or monthly basis from your checking account and depositing that money in a savings account. Save $5 to $20 or more weekly by transferring funds to an online account (easier to keep track of and pays higher interest). When the holiday season rolls around withdraw the full amount and start building up the account again for the next year.

Consolidate Communications — We still have a land telephone line, but it doesn’t cost us nearly as much as it did a few years ago when Bell Atlantic was our provider. Today, our cable company — Time Warner Cable — provides our phone service as well as television cable and internet connection. I need the upgraded plan for my work, but I still save at least $75 monthly which covers the cost of our cell phones.

Shop the Warehouses — In our area we have BJs, Costco, and Sam’s Club to provide warehouse savings for our family of four. Though we still visit the local supermarket for meats, milk, and other smaller items, our bulky paper products, snacks, condiments, juices, pet food, water and the like are all purchased at our local BJs. We allowed our membership to expire for a few months earlier this year, but when we signed up again we paid $45 for the membership which included two extra months free and a ten dollar off rebate on that day’s food purchases. Needless to say, we get our membership money back within two visits and continue to save all throughout the year.

Eating Out — We don’t eat out all that much, maybe two or three times per month, but when we do we eat well. Prix fixe (one price) is a favorite, but quality smorgasbord or cafeteria-style eating can be enjoyable too. In our area restaurants are always competing for diners, so specials are frequent and rarely require a coupon.  On occasion, we eat our big meal during the middle of the day as everyone knows that the lunch menu is priced lower than dinner while offering the same entrees.

Review Insurance — Our insurance policies come due in December and that is the time when I sit down to see if deductibles can be raised or other coverage options changed. Of course, you can save money by combining your homeowners and auto insurance, a move that is usually rewarded by insurance companies who appreciate your patronage. Consider switching providers too if you can get a better deal and better service. Likely, we pay more for our coverage, but we like our insurer so the little gecko won’t get our business any time soon!

Family Freebies — Do you live in a family friendly area? What I mean by that is do businesses, clubs, and local governments clamor to serve you? Where we live, families are big business but they are also the recipients of plenty of free and discounted events all throughout the year. We’ve learned that whenever a family event is being held, you go early. When prizes are being given away, you stand a better chance of winning something of value. BTW, you don’t have to be a “family” to reap the benefits — just learn to hang where families show up!

Vacation Planning — I’m not counting on regular gas being $1.79 next summer when we go ahead with a planned (and delayed) trip to see friends, family members, and to take in tourist spots. But, what I am counting on is big savings on wherever we go and wherever we stay. When I booked my trip to Los Angeles last month, I found hotel savings on Hotel.com and compared their best offers with Priceline, Travelocity and Expedia. All four had the same low rates, giving me the best deals for my three night stay. I’ll use these services again plus whip out my AAA or AARP (yes, I’m that age) to see which plan gives to us the best price. Of course, calling directly to the hotel can yield the best savings, so I’ll do that too.

Other Savings — We routinely save money by taking in the occasional movie matinee (my wife and I go when the kids are in school, therefore no babysitter fees) and we make good use of our local library. Our museums are free and we purchased an annual membership at a nearby children’s museum that our children like to visit. In addition, we bought the annual aquarium/zoo pass for our family which pays for itself in just three visits.

Giving Back to the Lord

Besides personal savings, one thing we won’t be doing this coming year is cutting back on our giving. As Christians, we trust that God will provide and we regularly return what we earn to the Lord via our local church, select Christians ministries and set aside some money to help out select secular non-profit organizations. This year, especially, many charitable groups will find it tough to make ends meet, therefore we want to do our part to help out in whatever way we are able to.

Yes, we’re still setting money aside for our retirement and our childrens’ college education in addition to remembering that the tax man will want his share. With a mind to save, we should be able to reach our goals in 2009 without cutting back to the bone. However, if additional cuts need to be made you can be certain that we’ll examine other areas to save and/or figure out ways to increase income.

Federal Hand Out? No Thanks!

And one more thing our family won’t be doing is waiting for the federal government to figure out how they will “help” us out. Resourceful people find a way to make things work out no matter how tough things are. Better days are ahead and we plan to ride over the speed bumps of life while maintaining our sanity and retaining our dignity. We’ll pray for our government, but mostly that they’d stay out of our way!

Have a happy holiday season to all. I hope these tips give you some ideas on how you can press forward in 2009; feel free to leave your tips or suggestions — I’m looking for fresh ideas!

Photo Credit: Steve Woods