Trim your waistline, feed your wallet

As the holiday season becomes a memory, many people are faced with unpleasant reminders of overindulging – including an expanded waistline and an empty wallet. Especially during the holidays, people tend to overindulge at the table. They may eat more sweets and rich food than usual, and they may exercise less due to time constraints. People also tend to overindulge at the cash register, over spending on gifts, decorations – and even food. Following are some simple tips on how to trim your waistline while padding your wallet.

Shop at the farmers market
If you live in a temperate climate, you may be graced with year-round farmers markets that offer fresh, locally grown produce – usually at lower prices than you’ll find at the grocery store. Even shoppers who don’t have access to year-round farmers markets often can find local markets that sell locally-produced goods. The food is fresher, better for you – and you are supporting your local economy.

Make a realistic shopping list
Don’t grocery shop when you’re hungry, and don’t go into a grocery store without a list. Plan your meals for the week, make your list and stick to it. Shoppers who frequent grocery stores on a daily basis almost always spend more by the end of the week than those who limit shopping to once or twice each week.

Rule out the splurge
After making your list, evaluate the four most expensive items on your list – and rule out one or two of them if they are nonessential. It is much easier to get rid of one expensive item than five or six lesser priced items.

Eat in, not out
Experts say one of the easiest ways to cut a personal budget is to limit eating out. Cut in half your eating-out habits. If you dine in restaurants twice each week, limit yourself to one night out. If you eat out every other week, try making it a once-a-month treat. And if you eat out almost every night, you’ll be surprised at how quickly you can save by planning a few meals in.

Better wallet, better waistline
You may be surprised at how quickly your waistline trims down just by initiating some wallet-friendly shopping tips. Splurge items at the cash register are often calorie splurges, too. And cooking in may encourage you to pay more attention to the food you are eating than you do when you order from a menu.

Encourage young entrepreneurs

Lots of kids know how to spend money, but do they know how to earn it, save it and make it work for them? Usually by toddler age, kids are gaining a sense of money – that you need it to buy things. These days, kids are as familiar with credit cards as they are with good old-fashioned cash, often encouraging parents to buy “credit card toys” when they say they don’t have money for wish list toys. As soon as kids become fascinated with playing store games, it’s a great time to begin lifelong lessons in making money.

There are many different theories on the good and bad of allowance paid for household chores. On one hand, it teaches children that they need to work in order to obtain things they want – toys, books, computer games, etc. On the other hand, some say children should learn that they have certain responsibilities in the house with or without pay.

Why not allow children to earn their money outside the house? Chances are, they will do a better job – and complain less – if they are doing the work for someone else, such as a neighbor or extended family member. Following are some money-making ideas that you can help your children, grandchildren or neighborhood children initiate. They will accomplish tasks for others, earn money for themselves – and along the way learn valuable lessons on the importance of working hard.

Babysitting, pet sitting or plant sitting
Yard work or house cleaning
Running errands for an elderly person or a new mother
Growing and selling plants and their produce
Making crafts or jewelry and selling them
Setting up an old-fashioned lemonade stand, complete with baked goods
Repairing bikes or other toys
Holding a small toy and book sale with items no longer in use

Of course, nearly all these ideas will require adult supervision and assistance, but that, too, will teach the young ones in your life valuable lessons – teamwork, respect and love.

Understanding your credit report

The mere mention of report cards reminds many adults of their younger days – days filled either with pride for good grades or dread of the bad ones. As adults, we are graded, too. Anyone who has ever applied for a car loan, a home loan or even a credit card has been graded. There are three consumer reporting agencies that distribute to lenders information on individuals’ credit history. These credit scores are computer generated summaries based on information that a consumer reporting agency or lender has on file. The scores are based on data about an individual’s credit history and payment pattern. Credit scores are important because they assist lenders in determining whether an individual can obtain a loan, how much of a loan and often even the interest rate.

The bulk of a credit report consists of details about credit accounts that were opened in an individual’s name or that list the individual as an authorized user, such as a spouse's credit card. Account details, which are supplied by creditors with which the individual has an account, include the date the account was opened, the credit limit or amount of the loan, the payment terms, the balance and a history that shows whether or not bills were paid on time. Closed or inactive accounts can stay on the report for seven to 11 years from the date of their last activity.

A credit score estimates the risk a company incurs by lending an individual money. The higher the score, the less risk an individual represents. Credit scores can change over time depending on how an individual’s payment patterns change. Following are some indicators that will affect a credit score:

Positive:
Steady employment
Active credit use with a few accounts
Timely payments
Using less than 80 percent of total amount of credit available
Few requests for new credit

Negative:
Periods of unemployment
Too many requests for new credit
Multiple credit card accounts
Bankruptcy, collections, judgments, defaults, liens, foreclosures
Small finance loans
Late payments or missed payments
Using more than 80 percent of total amount of credit available
Total outstanding credit

It is important to review your credit records as often as annually to be sure the consumer reporting agency is providing accurate information. The better your credit score, the better credit – and interest rates – you will receive when seeking a new loan. Even if you do not anticipate needing a new loan right now, it is a good idea to keep your credit in good shape. Lenders and credit companies are not the only ones who look at your credit score. Current or future employers, insurance companies and even rental landlords often view credit reports to learn more about an individual.

With the rising cost of health care, medications and insurance, people are beginning to spend more time figure out ways to avoid getting sick in the first place. Being healthy means giving your body healthy food for energy every day, and getting plenty of exercise. When you stay healthy, you spend less money on doctor's visits and medicine.

The obesity rate in the United States held steady at around 15 percent from 1960 to 1980. Since 1980 obesity has grown to 31 percent, and nearly 65 percent of Americans are considered overweight. Type II diabetes is at epidemic proportions, and cancer is now the leading cause of death in the U.S.

However, by following the USDA’s Dietary Guidelines for Americans, you can lower your chances of developing certain chronic diseases. Additionally, the better tone and condition your body is in the less likely you are to get sick or have weight related health issues. Good eating habits and consistent exercise can help prevent heart related health problems, promote a better circulatory system and stronger heart muscle. Exercise also promotes better oxygen intake, which helps the lungs be more efficient. Increased oxygen aids in better metabolism and can keep weight in check and reduce other illnesses like asthma and diabetes.

Challenge yourself, your friends and your family to improve eating habits and increase exercise this year. The payoff at the end will be worth it!