Consumerism »

I admit it: I spent pretty much all of last night drooling over cell phones: the n95, the iPhone and half a dozen shiny new toys. I don’t need to change phones yet, but pretty soon, it looks like I’m going to have to break down and buy something that I can both send email with and fit in my pocket. I’ve held out for quite a while, convincing myself I could do without. And I’m pretty sure that this decision isn’t about giving into my technolust. I’ve checked my motives, and I’m sure I’m going to buy a phone for the right reasons.

But as nice as these gadgets are and despite the fact that it’s almost a justifiable business expense, I’m planning to hold out at least until August to make a decision on what I want. I’ve been doing my research and picking the brains of a few people who know a thing or two about cell phones. And all my research tells me to wait.

In the past, I’ve put off purchases for a variety of reasons:

• Waiting until I can afford to plunk down cash and avoid interest.
• Waiting until an expected price drop kicks in.
• Waiting until I can talk an employer into buying it for me.
• Waiting until I’ve heard feedback about new features and new bugs.

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Save Money »

It seems like our hobbies can quickly become the biggest chunk of our budgets, which, considering our priorities, may not seem like a good plan. But if you’re looking for a hobby that doesn’t require you to break the piggy bank to participate in, you might find a few suggestions here.

1. Cooking. You have to eat, no matter what — so why not enjoy the process of getting food on the table? And if you’ve been eating out or eating prepared foods (like Hot Pockets or Hamburger Helper), you may even be able to save a significant chunk of change.
2. Hiking. Taking a hike in your local national park isn’t going to cost you much. If you’re the outdoorsy type — even if you normally go in for something more extreme — a hike may be a nice way to relax. Hiking doesn’t require the sort of equipment camping, backpacking, rock climbing, etc. require, either.
3. Writing. Do you have an interest in telling stories? All it takes is a pen and a pad of paper and you can spend an enjoyable afternoon crafting a short story, a poem or a chapter.
4. Genealogy. Researching your family tree can offer you an opportunity to pursue a hobby that lets you easily involve your family. And, if you need a distraction for your great aunt at those family reunions, asking about family members you don’t remember can provide you with an easy conversation.
5. Bird-watching. Beyond an initial investment in a pair of binoculars, bird-watching is free. It’s a hobby that you can indulge in on vacation or at home. I’ve even known birdwatchers who enjoy just sitting down on their back porch and seeing what they can spot.
6. DIY. Doing just about anything yourself — from creating your own clothes to homebrew electronics — can be an enjoyable hobby. You may need to purchase some special tools, but, in the long run, you can often save some money. Personally, I love the unique clothing I can make myself.
7. Gardening. You’d be amazed at the amount of plants you can get for free: you can grow plants from seeds you find in melons and other food, many neighbors are happy to transplant overgrowing plants and some people just flat out give away plants

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Personal Finance »

Energy efficient appliances seem ideal: not only are they better for the environment because they require less energy to run, they bring down your monthly utility cost by a significant amount. What’s not to love?

Yes, an energy efficient washer and dryer set can run a few hundred dollars more (based on glancing at price tags at my local big box store). However, according to the Energy Star website (run by the EPA), an energy efficient washer can save you an average of $550 over the life of a washer.

If you own your home, and are planning to purchase new appliances, you may already be thinking about whether you want to select energy efficient appliances. If you live in an apartment or other rental, bringing energy efficient appliances into your home may be much harder. Landlords who provide such appliances as washers or dryers tend to replace old appliances with whatever they want — that is to say, not necessarily what you want.

But, as long as you have to pay for your utilities, having energy efficient appliances is in your best interest. You just have to convince your landlord it’s also in his or her best interest. My current washer and dryer seems to be nearing the end of its run — I’m not entirely sure which of the two of us is older — and I’ve started putting together my list of arguments:

• I’ll be less likely to complain about the rent hike that they’re planning.
• There will be less chance of water damage because I hung up clothes to dry, rather than run an expensive dryer.
• The landlord gets to pocket a government rebate for changing residential appliances over to more efficient models. How much of a rebate the landlord can expect varies by state.

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Consumerism »

Food prices are on the rise — more so than they have been in years. A dozen eggs costs 60 percent more today than it did just a year ago. And after so many years of only single digit food inflation, consumers are starting to worry.

There are a number of causes for rising costs. For one thing, the cost of transporting food has essentially skyrocketed, following the rise of gas prices. Gas prices are still going up, too. Americans have a long way to go before our gas prices are actually comparable with most countries (we’re currently sitting at less than half of what drivers in the U.K. pay), and it’s more than reasonable to expect gas prices to keep rising. Food prices will climb with them.

But there’s another reason inflating food prices: the use of corn. Of the corn crop grown in 2008-09, 31 percent will be used to produce ethanol, rather than food. This rising rate doesn’t just force the cost of corn for our table upwards — it also inflates the cost of beef, milk, chicken, eggs… anything that comes from an animal fed on corn, which is most of them these days. It also, by the way, drives up the cost of several types of plastic, which are also corn products.

That environment-saving ethanol everyone’s so fond of? Yep, it’s a leading cause in the cost of getting dinner on the table. And since the trend is reflected in the cost of food staples from every part of the grocery stor, there’s not much we can do about it. Cooking from scratch can only take a certain amount off of our food bill — we all are facing an ongoing trend that will impact us no matter what store we shop at or which coupons we clip.

Raising my own chickens is starting to look pretty good. It’s just about the only way I’ve been able to think of to avoid the rising cost of eggs. I’m not sure if I can talk my landlord in to it, though. I’m doing my best to plan ahead, but my wallet’s going to take the same beating as yours. I’ve cut down on eating out and buying prepared food. I even bake my own bread — at $4 a loaf, it’s a clear savings even if I do have to spend a little time in the kitchen.

How are you protecting your budget against the rise in food costs?