Photo by Christopher Chan

Money market account,  403(b), IRAs.  We think we understand these basic financial terms, but do we really? And does not comprehending the full definitions create problems?

The following definitions for the 10 most commonly used financial terms may help you straighten out a mess or, better yet, prevent one.

1. 401(k): A retirement investment plan that allows employees to put a percentage of earned wages into a tax-deferred investment account. The plan is selected by the employer. Also known as a "salary reduction plan." Non-profit organizations offer 403(b) plans as employees can't accept profit sharing or dividends.

2. Annual Percentage Rate (APR): The interest rate you'll pay for a whole year (as opposed to monthly) on loans, mortgages and credit cards. A fixed-rate APR changes infrequently but, if it does change, the creditor is legally required to tell you before doing so. A variable-rate APR changes occasionally and is often tied to another interest rate, usually the prime rate or treasury bill rate. 

3. Certificate of Deposit (CD): A time deposit commonly offered to consumers by financial institutions. CDs are similar to savings accounts in that they're insured and, thus, are virtually risk-free. They're different from savings accounts in that they have a fixed interest rate and a specific fixed term, usually three months, six months, or one to five years. You receive all the interest that has accrued on a CD if it is held to maturity but will be fined if you cash it out before the term has expired.

4. Credit: Borrowed money you use to purchase something, with the agreement you'll repay the money at a set time. The terms of credit vary depending on the agreement, including the interest rate, repayment schedule, etc.

5. Credit bureau - Similar to a bank but, instead of being owned by investors, it is owned and controlled by the members. While the profits from a bank are distributed to the investors, the profits from a credit union are returned to the members of the credit union in the form of lower loan interest rates and higher dividends.

Photo by garethjmsaunders

Shopping online is convenient and can be cheaper than shopping retail. But do you know your rights when buying on the Internet? A recent survey revealed consumers don't know their rights and regulations and  thus take big privacy and security risks.

To help ensure your safety when shopping online, we offer the following 10 tips.

1. Know the company: Does the company provide information about its background and ownership? Are details about each product posted? Is there information about your rights and security? Investigate further if you can't find a contact address on their web site.

2. Cooling-off rights: There  should be a cooling-off period for most goods and services purchased online. Usually extending for seven days after you receive the purchase, a cooling-off period entitles you to a full refund if there is a problem or you are unhappy with the purchase. If details are not provided, the cancellation period can last for up to three months.

3. Security: Make sure the payment page is encrypted so your financial information can't be hacked. The company should indicate encryption is provided before you enter your bank account data, credit card number, etc.

4. Shipping costs: All too often, delivery charges aren't added until the end of the transaction. This can greatly increase the price of your purchase. Because you've already filled out all the required forms, the company hopes you'll simply go ahead with the purchase. Make sure you examine the final cost before clicking approval.

5. Free delivery: Because competition has increased in recent years, many retailers now offer free delivery if you purchase over a certain amount. Comparison shop and visit Freeshipping.org for offers.

Photo by JasonRogersFotographie

November 18 is dedicated to refrigerators filled with USO's -- Unidentified Shriveled Objects.

Apparently Whirlpool, in its omnipotent corporate wisdom, realized Americans need more room in their fridges as the holidays draw closer. So several years ago the appliance manufacturer established the third Wednesday in November as National Clean-Out-Your-Refrigerator Day.

Removing biohazards is a good idea any time of year. There's really not much point in wasting coolant power on food that could kill you with a look, but very few of us look forward to a full fridge and freezer cleaning. However, the really nasty part isn't tossing out space oddities: It's sponging up liquids that accumulate in the produce bins. Perhaps avoiding such "juices" is why experts recommend cleaning your fridge once a month. (Notice I said "your" fridge, not "my" fridge. My appliances always sparkle, of course.)

While you're cleaning, it's also a good time to make sure the refrigerator's temperature is between 30 and 40 degrees F and the freezer temp is between 0 and -10 degrees F, so holiday foods won't spoil.

Here's your step-by-step process to a full fridge cleaning.

1. Put on rubber gloves to keep your hands from burning in the hot water and maintain their silky softness.
2. Remove everything from the fridge, tossing empty containers, spoiled food or any condiment that has been in residence for longer than a year. If you haven't used it in a year, you'll probably never use it.
3. Mix up a bucket of HOT water with a disinfecting cleaner. Replace occasionally as the water becomes dirty.
4. Remove the shelves and bins and scrub over the sink.
5. Wash down and disinfect the inside walls and all along the door seal.
6. Wash the outside of jars and containers.
7. Replace the shelves and bins.
8. Return everything to the fridge, properly stored in foil, plastic wrap, plastic bags or airtight containers.
9. Wash the sides and tops of the refrigerator's exterior.
10. Vacuum the coils at the back, if your model has coils. (Dust requires the fridge to suck up more energy.)
11. Clean the floor underneath the fridge, if it moves easily.
12.  Stand back and appreciate your hard work.

Photo by LarimdaME

Is the big day at your place this year?  Don't stress over grocery store anxiety.  Thanksgiving meals can be organized for very little money if you're organized and begin early.  Start collecting pantry goods now to plan for an inexpensive yet yummy dinner.  

1. Look for free turkeys.
Thank goodness our November tradition hails a cheap bird as the centerpiece rather than medium rare sirloin steak.  While intimidating to cook, turkeys are definitely cheap and you can choose from fryers, boneless, pre-cooked, and roaster varieties.  Many grocery stores give out free turkeys with a minimum purchase of items you'll probably need for Thanksgiving dinner.  Other stores will offer buy-one-get-one free birds, especially helpful for large gatherings.

2. Get an RSVP list and assign sides.
After 29 years of sharing Thanksgiving week with 45 relatives, we have narrowed our spreadsheet to an exact science.  The whole point of Thanksgiving is hosting a potluck--think Native Americans and Pilgrims.  Our family takes this practice to an extreme, assigning prep work and clean up duties in addition to bringing food, but it works and we have never left out a dish.  This simple act of getting an attendance commitment from friends and family and inviting them to bring something will help reduce the load.  

3. Avoid the box mixes.
Making your dishes from scratch will not only taste better but will usually save some money off your bill.  Stuffing and canned yams are the worst.  If you're in a bind and have to go with a stuffing box, Good Housekeeping recommends Stove Top Savory Herb Stuffing Mix ($2) and Arrowhead Mills Organic Cornbread Stuffing Mix ($3). 

4. Shop now for canned goods and freezeables.
Consider this next week to be the Black Friday version of holiday food.  Grocery stores are fighting for your Thanksgiving buck and have reduced canned green beans, corn, sweet potatoes, and pie crusts to an all-time low.  They know that you'll spend enough in quantity to make up for the deep discounts.  Go online to scour weekly grocery ads for the best deals, but beware the convenience food lure.  Don't buy huge Thanksgiving food "kits" without comparing prices when purchased separately.

Photo by Dan4th

The Amish could teach us a lesson or two about using old-fashioned construction and cooking methods.  According to a Wall Street Journal article over 600 Amish contractors working in more than 12 states can save homebuyers up to 30% employing simple, yet stable, building techniques and few tools.  

Not everything with a cord will make life easier--and it doesn't usually simplify things either.  While we come a long way from barn raising sans electric tools and churning our own butter, it's worth a second glance to comparing manually driven tools and their electronic counterparts.  After all, saving money speaks across the decades.

Clothes Dryer
Assuming your dryer, which is 5,000 watts, runs for 4 hours every day of the month, you'll spend roughly $60 per month on drying costs alone!  Most of us don't use our dryer that much, but you have to factor in wear and tear on your clothing and the age of your machine.  Older, less efficient units take longer to dry the clothes and you'll end up with faded darks if you over dry.  On the other hand, running a 48" fan for 12 hours each day on hanging clothes will only run you about $2.50 for the month.  Using a drying rack and natural air to get the job done will keep your clothes brighter longer and save money on your dryer.
The Winner: Drying rack with a fan

Can Opener
Forget the electric can opener--I want my hand crank.  The electric gigs run off track so often and unless you spend a bit of money they don't give a smooth cut.  Plus when the electricity goes out and you need to break into the pantry cordless is a necessity.  My pick is the OXO Good Grips Smooth Edge Manual Can Opener.
The Winner: Hand crank opener

Toothbrush
Here's the deal.  If you don't brush your teeth regularly, it doesn't matter if your brush is gold-plated with diamond studs--teeth don't brush themselves.  I tend to get lazy about how long I brush and I get bored.  The electric toothbrush is fun for me to use.  There are a few studies roaming around that say using an electric brush reduces plaque build-up, but most are dependent upon users.  While you can easily dish out over $100 for a rechargeable brush, the Oral-B Vitality costs just under $20 and does and excellent job.  It doesn't have a built-in timer and only has one-brush motion, but it is rechargeable and you can't beat the price.  Consumer Search rated the Oral-B Vitality the Best No-Frills Electric Toothbrush and the Journal of Contemporary Dental Practice found that using this brush is comparable to receiving a dental prophylaxis followed by a manual toothbrush.  
The Winner: Electric for lazy operators, manual for diligent scrubbers

Beater
I have both sitting side by side in my pantry.  While I like the feel of my manual beater, it is nearly impossible to beat baked goods (especially cookies which need to take an extra whipping) long enough without a complete forearm workout.  I'll use the whisk on light jobs, but most recipes need a simple electric (not necessarily the giant Kitchen Aid) beater.  I purchased mine for under $20 and it has lasted for five year.
The Winner: Electric beater

Photo by Scott Ableman

Taking the garbage out used to be so easy. Everything went into one big container and you hauled it to the curb.

With the advent of recycling, everything changed. At first we dragged our newspapers, bottles and plastic to recycling centers. Curbside recycling made things a lot easier, but also brought up more questions. What do we do with batteries? What type of plastics can we toss in the bin? How do we dispose of outdated electronics.

Since November 15 is the official America Recycles Day, we thought it a good time to review some recycling Do's and Don'ts.

DO'S
1. DO review recycling requirements of your trash hauler, particularly what can be placed in the bin and which types of plastic they accept.
2. DO Ask your local recycling center or town dump if they accept recyclables not accepted by your trash hauler, particularly electronics and batteries.
3. DO remember paper products also include junk mail
4. DO rinse all cans and bottles.
5. DO keep boxes out of the weather, making them easier to process.
6. DO recycle clean cardboard, not greasy pizza boxes. 
7. DO remove bottle and jar lids, unless made from a No. 1 or 2 plastic.
8. DO look for bins at stores that accept plastic bags, paper grocery bags and dry cleaning bags. (Learn more about plastic bags.)
9. DO use canvas bags or bags made from recycled materials when you shop.
10. DO remember to take your own bags when Christmas shopping.
11. DO put unrecyclable shredded paper in the yard waste bin, where it can be turned into compost.
12. DO return plastic pots to the nursery or gardening center from which you purchased them.

Photo by mulmatsherm

Renters needn't depend on simply turning down the thermostat to reduce home-energy costs. Even though most energy-saving tips are written for homeowners, there are many ways renters can save money without making major home modifications.

Begin by talking with your landlord about winterizing older windows, installing a programmable thermostat and replacing furnace filters throughout the winter. Ask your county or city government if they offer free programs to install these and more energy-saving devices. Some offer free energy audits that can help convince your landlord to make upgrades.

As a renter, your priority is to reduce energy costs quickly and inexpensively. Here are 12 ways to save energy in your rental home.

1. Regularly change filters: Ask your landlord to inspect the furnace or air conditioning units and to clean or replace the air filters at least every three months. If he's unwilling to replace the filters, ask for permission to do so yourself. Changing filters is inexpensive and a huge energy saver, not to mention it reduces dust throughout the home.

2.  Manage sun exposure: Keep window shades, blinds or curtains open during the day in winter to heat things up with sunlight. Close them in the evening to retain that heat.
In the summer, keep those same shades, blinds or curtains closed during the day to prevent sunlight from heating your home. Lightly colored materials make the most effective window covers in summer. Keep windows closed during the day when it's hot outside to prevent outside air from entering your home, then open them up on cool summer nights and use a window fan to blow in that cool air.

3. Adjust the thermostat: In winter, keep the thermostat set around 68 degrees F when home, and 60 degrees F at night or while out of the house. In summer, set the thermostat around 78 degrees F. You might use high-efficiency fans to help you be more comfortable during hot summer days.
If you're going to be away from home for an extended period of time, set the temperature even higher in summer and lower in winter. It doesn't take long to heat or cool your home back to your preferred temperature.

4. Install a programmable thermostat: If you don't have a programmable thermostat, talk to your landlord about installing one. A programmable thermostat allows you to program different temperatures at different times of the day, giving you greater control over energy use and comfort without having to remember to make manual changes. A programmable thermostat is particularly handy in winter, to warm things up before you get out of bed or return home in the evening. Most of these thermostats have a manual override, so you can make short-term adjustments on particularly hot or cold days.

5. Install low-flow faucets: Low-flow faucets save both water and water-heating costs when installed in both sinks and showers. Turning off the shower while you soap up also reduces the amount of hot water you'll use. Don't forget to save the standard faucets and take the low-flow faucets when you move.

There's a new superhero in The Frugals family. Gift Card Granny is a comparison-shopping web site for all things related to discount gift cards.

Don't  be fooled by Gift Card Granny's walker: Her super powers are equally capable of saving you money as the rest of the Frugal family.

Just in time for the holidays, Gift Card Granny offers the most comprehensive listing of discount gift cards on the Internet. She has partnered with the fine folks at eBay.com, Plastic Jungle and GiftCards.com to bring you super savings of up to 50% off gift cards for the most popular retailers.

We all know gift cards make excellent, easy-to-wrap gifts for co-workers, friends, family and the postman, but what many people don't realize is you can make everyday purchases with discounted gift cards. For example, if you want to buy towels for your home from Macy's, purchase a 15%-off card from GiftCardGranny.com and you'll spend just $85 on $100 worth of merchandise. Some stores offer savings of more than 50% off a card's value!

Using discount gift cards and coupons together is a great way to save even more on everyday purchases. For additional savings, add a Macy's coupon code from CouponSherpa.com.

Photo by Chandra Marsono

Who wouldn't be interested in saving the earth while saving money on utilities these days? Few of us, however, consider installing solar panel systems because the return on a $20,000 to $50,000 investment is so far down the road. Even after tax rebates, it takes years for that investment to pay off in locally generated electricity.

As a result, the American solar industry has never really taken off...until now. Several years ago, three photovoltaic companies got together and came up with a plan to offer leasing programs so homeowners could begin receiving savings almost immediately.


Primary rental companies
Three primary companies presently offer leasing programs:
Citizenrē has received the bulk of attention among solar leasing companies as Citizenrē REnU was the first available program in the United States.
freEner-g is a Minnesota-based program, initially developed to serve the Minneapolis/St. Paul Area.
SolarCity serves portions of Arizona, California and Oregon


How it works
Not every home design is suitable for solar panels, so the leasing company first must evaluate your particular home. If they find your home will work, you pay a deposit (frequently $500) and sign a lease for anywhere between one to 25 years. The company files all the necessary permits and design the system appropriate for you. They then purchase and installs the system.

Photo by Noël Zia Lee

Southwest Airlines has worked hard to make sure we all know other airlines are charging up to $200 round trip to check a bag. Unless you're flying Southwest or  another carrier that doesn't charge for checked baggage, packing light for holiday trips makes more sense than ever. Not only will you save time and money but it's great fun to breeze past all those bedraggled masses waiting at the baggage check.

Packing light, however, requires a certain mindset and preparation. After two years traveling throughout Europe with a single carry on, I consider myself something of an expert. Here are five tricks I learned for  brief trips.


1. Buy the right bag: Before you sit down to make a list, find a bag that will suit your needs. Airlines have very specific size requirements these days. According to Expedia.com, the safe maximum size is 45",  in the form of a 22" x 14" x 9" bag, with a 50-pound limit. I brought a tape measure with me when shopping as the sizing information listed on luggage tags wasn't always accurate. The manufacturers' measurements usually indicate the interior space, not the exterior. Nor do they take into account the size of a fully stuffed bag, which will bulge beyond its natural contour. The wheels and carry handle also can add another couple of inches.

Almost all bags have wheels these days, but it's wise to take a test drive around the store to ensure it won't wobble. If you're planning a future European trip, make sure the wheels are sturdy enough to handle cobble-stoned streets.

Cost is not an automatic indicator of quality. My $40 bag from a discount store had all the pockets I needed, wheeled perfectly on the roughest of surfaces, and remained sturdily intact throughout many airplane, train and hostel ventures.

Finally, don't forget to attach luggage tags and include this same information inside the bag, in case the tags become detached.


2. Make a list:  Select your clothing first, as this will compose the bulk of your luggage. This is no time to be a fashionista. Select clothing for practicality and how you will spend your time. I found The Universal Packing List Web site invaluable as it includes everything from weather information to reminders about pet care. The list can be a bit heavy handed, however, so you'll want to trim it down. Since many of us will visit cold climates over the holidays, give your layers a test run to ensure comfort and explore how many different outfits you can make out of some basic items.

If you anticipate attending a fancy New Years Eve party requiring formal wear, consider borrowing or buying something at post-Christmas sales. You can always leave it behind or ship it home.

Check the Transportation Security Administration's Web site for specifics on packing liquids and prohibited items. While these regulations can be a real pain, they also help to winnow down your list. If you're visiting family or close friends, ask to use their shampoo, soap, blow dryer, etc. to cut down on space required for toiletries. Hotels make it easier because they restock such supplies as you run out. Pack any remaining toiletries in a toiletries bag or resealable plastic bag to reduce bathroom clutter and prevent any surprise explosions that will damage the rest of your luggage. Don't forget tightly-closed bottles can explode if you're flying from or to a high-altitude destination. Since I'm based in Colorado, I always wrap such bottles in an additional plastic bag.


3. Check  it twice: Place everything you intend to pack on the bed and everything you intend to carry with you on the floor. Is there anything you can eliminate? Remember, holiday trips don't last a lifetime, even if it may feel like it, and you can buy or borrow some items. Also consider whether you're likely to receive an extra scarf, hat or pair of socks for Christmas and cross those items off your list.