What are Terramundi money pots?

Posted on 17. Aug, 2009 by Stuart in Money, Savings

Terramundi money pots make memorable and charming gifts for all special people and occasions. These delicate clay pots are handmade in Italy where they originated over 2000 years ago. Terramundi money pots launch wishes that are dropped in the pot through a small opening where traditionally a silver coin is inserted for gifting.

Are you struggling to find just the right gift for a friend, your mom, or a loved one? Terramundi pots can be customized for any occasion — birth, christening, birthday, graduation, engagement, wedding day, just married, honeymoon, new home, anniversary, retirement, promotion, or just for a congratulations! You name it and the name will be hand-painted on the pot, customized for most any person and any life stage or achievement, including specified years or dates.

Examples of ancient terramundi money pots are currently exhibited in the British Museum. These hand-thrown clay pots continue in the same design as the ancient terramundi money pots original to the country of Italy where the pots and tradition were begun by the Etruscans. So as a gift, terramundi money pots continue a well-established and distinguished tradition of gift-giving.

Terramundi pots are a interesting gift with cultural roots that are fitting for a wide variety of personal tastes. They are additionally special as handmade gift items. The terramundi money pots are hand made in Italy and then shipped to Britain where artisans paint and decorate the pots by hand. For those who have everything, money pots are a perfect find as they are uniquely handcrafted objects d’art (art objects).

Traditionally terramundi money pots were given on special occasions with a silver coin deposited inside the pot. More recently, wishes written on note paper have begun to be a popular item to deposit with words composed especially for the recipient of the gift. A variation on that is giving the terramundi money pot with a blank note so that the special person to whom the gift is given can write their own wish on the note and then insert it into their terramundi money pot.

The tradition as it began many centuries ago with the terramundi money pots is that once the first coin is deposited in the pot, then it must be fed with coins until full. When the money pot has all the coins it can hold, the owner makes a wish and smashes the pot while wishing. It is traditionally believed that the terramundi pot brings good fortune and so it is customary to spend the money from the pot on good things that bring happiness and to replace the pot as well.

Though smashing the terramundi money pot is a tradition, it is also possible to break the top of the pot without destroying the rest. Popular reuses of terramundi money pots are to hold plants, candles, pens, or as a serving bowl for sweets. In order to break the terramundi pot for reuse, use a hammer or chisel to gently pry the top off slowly and then sand the area lightly to smooth away rough spots.

These fascinating clay money pots serve as conversation pieces in your home, prompting many a chat as attractive object d’art that catches the attention of visitors. The sleek and contemporary design of the terramundi money pots furnishes a touch of class with a modern twist to your surroundings or to those of your friends and family.

So much time, love, and care goes into the making of terramundi money pots that it’s a cinch your special someone or special occasion will be greatly enhanced by the gift of one of these delicate hand-made clay pots. Terramundi money pots come in a variety of sizes though the shape remains faithful to the original design of the Etruscan Money Amphora. All in all, terramundi money pots make a perfect gift for any person or occasion due to their broad and ageless appeal.

Photo source: estherase

How to reduce my households bills

Posted on 20. Jul, 2009 by Stuart in Frugal Tips, Savings

Finding ways to cut household bills sounds easy at first, but it isn’t always as simple as it seems. Living a healthy financial lifestyle is similar to dieting. Finding the first areas to cut are similar to shedding those first several pounds. Nevertheless, to maintain savings, just as with weight loss, one must adhere to a set program — a routine of sorts. Reducing household bills doesn’t just happen. It takes time, hard work, and perseverance.

Understanding Your Bills

To begin cutting your household bills, you must first know and understand them. If you were asked you to make a list of every bill you pay and the general cost associated with it, would you be able to? Many people would find this request difficult, or would at least have to spend a good bit of time considering it. But how are you supposed to cut your costs if you aren’t really sure what they are? This is where creating a list of household bills that arrive monthly, quarterly, semi-annually, and annually is important. Monthly bills might consist of utilities, credit card statements, rent/mortgage, and car payments. Less frequent bills might consist of insurance payments (house/car/life), certain utility bills sent on a quarterly basis, magazine subscriptions, etc.

Categorizing Your Bills

Once you understand your household bills, it’s time to categorize them. It is best, and simplest, to break your bills into a ‘Wants’ and a ‘Needs’ category. Needs are things like your rent/mortgage, most utilities, food, clothing, transportation, health insurance, etc. Wants on the other hand, usually come by way of the credit card, and consist of items like dinners out, coffee to go, movies, sporting events, jewelry, DVDs, CDs, etc.

Now certainly, almost everyone has wants that he or she might consider needs, and vice versa. Someone in perfect health might consider health insurance a want, rather than a need, whereas someone with a health condition might find it impossible to survive without health insurance. If working as a disc jockey or movie reviewer, DVDs and CDs might fall into the need category. At junctures like these, one must be honest in considering how to categorize such items.

Trimming the Fat

With your household bills categorized, it is time to start slashing. It is usually easiest to start with the wants since these are areas not needed to maintain a safe and healthy lifestyle. Entertainment items normally have the most fat to trim. A great way to begin is by reducing dinners away from home. That’s an easy one though. What about that cable bill? Could you do without it? Wouldn’t you live a more productive and healthier without it? Consider this. If you only like certain shows, you could watch them on the internet or wait and rent them after the entire season is released on DVD rather than paying for 200 channels you don’t watch. This way you can still enjoy your favorite programs without paying for cable.

Just about anyone can cut the ‘wants’ though, and once this has been done, many are left scratching their heads regarding the next move. How do you begin to cut those ‘needs’? Ahh, this is where it gets interesting. Things like the gas bill, electric bill, water bill, those are fixed expenditures right? Wrong! There are a ton a ways to slash these bills and not all of them require much work. Most of the time all it takes is the ability to know that they can be reduced. Once you start turning off lights, unplugging appliances, closing off vents to unused rooms, and not wasting water, these habits start to snowball. Saving habit begets saving habit and soon you’ve cut your household bills significantly.

Staying the Course

If you find that getting started cutting your household bills is difficult, you might consider forming a support group of sorts. Just as with any other diet, when you have friends and family supporting your efforts, it makes the process easier. It might even motivate them to join you. A strong support group can help you stay the course and provide the willpower needed to cut your household bills.

Photo source: juicyrai

Debit Cards Versus Credit Cards

Posted on 03. Jul, 2009 by Stuart in Credit Cards, Savings

Debit cards have come a really long way from their original incarnations; where in the past, they primarily served as a means to withdraw funds from a bank account, today they can be used at point of sales transactions at many stores and online retailers. The addition of a Visa, Mastercard or other credit card logo to the face of a debit card can expand its usefulness exponentially, allowing it to be used anywhere such cards are accepted. However, some people are confused about the difference between credit cards and debit cards, as the two have become somewhat intermingled and the line between them has become more and more blurry.

The Basics Of Debit Cards

Essentially, debit cards are linked to a checking or savings account and are used much like a check would be. Most debit cards are used in combination with a PIN (personal identification number) that increases their security features and helps prevent unauthorized use. Since debit cards are linked and provide access to a person’s personal bank accounts, they must be kept in a safe place and their PIN must be kept a closely guarded secret. In terms of appearance, debit cards closely resemble credit cards but do not always have a series of numbers or expiration dates printed on their faces.

Many people strictly use their debit cards for the purpose of withdrawing funds from a bank account. The term “debit card” is basically interchangeable with the term “ATM card” – which means “automated teller machine card.” When people refer to using an ATM card, they usually mean a debit card, and vise versa. These cards are accepted not only at the bank’s ATMs, but also at the ATMs of other, unassociated banks; when used at ATMs outside of their own network, though, debit cards can incur usage fees.

In addition to being used for withdrawing money from a bank account, debit cards are accepted at many grocery stores and other retailers upon checkout. Once all of the items have been scanned and a total has been given, a person can use their debit card – in combination with their chosen PIN – to pay for their purchase. This option has dramatically decreased the use of personal checks in such situations. Retailers generally prefer debit cards over personal checks as much less processing is involved from an accounting standpoint.

The Basics Of Credit Cards – And Credit Card/Debit Cards

Unlike debit cards, credit cards are not normally linked to a personal checking or savings account. Instead, they serve as a way to gain access to a line of credit extended by a credit card company. When a person uses a credit card to pay for their purchase, they are accruing debt that must be paid off at a later date; this debt also accrues interest charges and may be subject to other processing fees. By not being careful, a person can accumulate a great deal of debt very quickly by using credit cards; when the statement arrives in the mail, many people realize how reckless they have been.

Credit cards are often used in lieu of debit cards when debit cards are not accepted. Most online retailers do not provide a means of using debit cards and PINs, so people who find themselves shopping online often have to use a traditional credit card. However, one of the most popular exceptions to this problem are debit cards with credit card logos and numbers imprinted on them. These cards allow a person to use the funds from their personal checking or savings accounts to pay for purchase anywhere that credit cards are accepted.

Although a debit card may have a credit card logo, numbers and an expiration date on it, it does not cause additional debt to accrue. These products have further decreased the popularity of paper checks, and fewer and fewer people are using those items these days. Instead, the convenience of credit cards and debit cards rolled into one is rapidly becoming the preferred method of payment for millions of people.

Photo source: LeArmoire

SavingsAccounts.com

Posted on 17. Mar, 2007 by Stuart in Banks & Financial Institutions, Savings, Sponsored Posts

Here’s a great concept in matching customers with their banking needs – SavingsAccounts.com. It’s a site that, while in its early days, may have the potential to really gel with online clients looking for a one-stop website.
Their claim;

SavingsAccounts.com is the perfect place to find the perfect online savings account for you. We can help you find the bank offering the highest returns with the specific account features that best suit your individual needs.

is certainly going to meet a need in the future but I think they still have quite a job ahead of them.
Here are some of the features that I’d like to see on this site;

• Either a tabular quick view of each financial institution displaying what they offer by showing a tick mark or similar. Or, a form where you could select the type of account requirements you were after and then a list that could be sorted by location, best rate, institution credit rating, monthly service fees etc was presented.
• Illustrated dates for when each of the interest rates were last updated so that the user could tell if they were current.
• A more complete list of financial institutions – currently it is only displaying 12 which includes some of the majors but certainly does not offer the full gamut on offer.
• A savings calculator – how great would it be to have a calculator available to estimate your savings based on each banks offerings. It may even be more beneficial to have a savings calculator whereby you could compare the same savings pattern and time period over a number of financial institutions.

So, while it’s a good start, the true test will come as this website grows and offers users better tools to assess their options. After all, it is intended for this purpose.

This is a sponsored post. Click to read my views on sponsored posts.

The problem with inheritances

Posted on 07. Feb, 2007 by Stuart in Investing, Money, Personal Debt, Retirement & Superannuation, Savings

The problem with inheritances is that old people aren’t dying quick enough. They’re living longer and enjoying a greater level of health than at any time in history.
Prior to our parents generation, our grandparents saw an inheritance as a major windfall. They could finally pay off the home, travel to that exotic destination they had always dreamed of and maybe buy a new car.
But our parents are too wealthy already and most have a greater financial base than their parents. So when a grandparent finally carcs it the inheritance becomes like a ripple in the next generations finances, barely rating a mention on the Richter scale of appreciation.
This then causes an adjustment, a paradigm shift if you like, as the older generations consider what to do with their accumulated wealth. Here’s the options as I see it;

1. Give it away to charity – Your children will only flitter it away as if it were pocket change anyway. It’s far better to give it to those who need it than leave the family in a quandary wondering where it should go.
   More and more charitable organisations are targeting older people to include them in their will. On the surface it may appear like a scavenger circling overhead a rotting corpse but it makes common sense. This money if given to families will predominantly spend on materialistic items whereas this option gives a sense of legacy.
2. Give it to the second generation – the parents don’t need it. The kids on the other hand are only just setting out in life and a sizable inheritance could be the kick start they need. Buying a piece of property, paying for their kids tuition and maybe buying a decent car are options that the lower generations will invest in.
   They realise that a holiday or new Jaguar are far too frivolous too spend someone’s lifetime wealth accumulation. While an inheritance would only be a ripple in the 2nd generations pockets it would be a small Tsunami for the younger ones.
3. Spend it yourself – Well, why not? You earned it. Inheritances have far less importance these days so saving your money to pass on to future generations is less required. Better than splitting it between your kids why not selfishly enjoy it while you still have your health and wits about you?
   In Australia, we refer to them as “Grey Nomads” – the baby boomer generation that retires at 55, sells up and buys a large 4WD and caravan and traverses the nation for the next x years. They even sport bumper stickers stating “Spending the Kid’s Inheritance”.

Regardless, it’s your money and you can do what you like with it.

5 point survival kit for living on one income

Posted on 21. Jul, 2006 by Stuart in Budgeting, Frugal Tips, Savings

Many couples are now deferring becomeing parents and instead opt for getting a mortgage, travelling and preparing a nest egg before junior arrives. The reason: the economic cost of passing up double wages and living on one income.

How do you do it?

Well, if you’re reading this for the first time scratching your head and pondering this very question understand that you’re not the first. And you most certainly won’t be the last couple to face this dilemma. It’s a big decision and you are probably already adding up all the creature comforts (the daily latte, magazine subscriptions, 2-door coupe) that are going to be side-lined.

But it doesn’t have to be all bad! Reducing the working hours of one partner can free up some more lifestyle choices as well. Holidays are easier to juggle (albeit harder to pay for), socialising time is freed up and odd jobs around the house can be accomplished without spending weekends rushing around.
If you planning on living on one income in the near future you might want to peruse the 5 point Survival Kit.

1. Address the budget – procrastinate in this area will only mean delayed, and harder, results of limited spending. You can’t keep the same spending habits when your family income goes from 100K to 50K. Some immediate savings are going to come from work-related expenses for the partner who has left the workforce such as parking, transport fees, fuel, cafe lunches etc.

   Other areas that might need to be pruned are non-essential items such as the weekly manicure, daily newspaper, cable-TV subscription. It may seem like you’re giving up a lot but in essence your just removing what you filled your double income up with.

2. Consolidate any loans or credit cards – this is an area where you can make huge immediate savings. If your mortgage length is 25 years try extending it over a 30 year time span. Of course you will end up paying more interest but it is better to have a mortgage that is achievable than default on one that’s not. Provided you don’t fix the interest rate you can supplement payments as and when you receive extra monies.
3. Find supplemental income sources – there are so many opportunities today for stay-at-home mums or dads. Be creative and use your time well. Even an extra $50 per week can help out the family budget.
4. Apply for government subsidy – many world governments now provide benefits to single income families in a bid to increase the birth-rate of Western societies. Find out what you’re entitled to and work within those limits. Many welfare regulations allow stay-at-home parents to earn a maximum income amount before benefits decrease.
5. Increase your salary insurance – the risk losing one salary while both partners are working isn’t too detrimental but consider this problem if you’re only living on one income. Salary Insurance protects the main income in case of death, disablement or if the breadwinner has contracted a terminal illness. Work related accident insurance is covered by your employment (unless self-employed) but Salary Insurance protects against things you can’t.

Make some wise choices and living on one income shouldn’t be too hard. Ignore the fact that your lifestyle will need to change and you will find that problems will continue to mount regardless of your nonchalance.

Will technology actually save us money?

Posted on 01. Jul, 2006 by Stuart in Frugal Tips, Gadgets, Money, Savings

It seems that every new piece of technology that arrives on the scene has the enhanced ability to save us money. We can buy an iPod and download tunes at cheaper prices than buying the CD replacement equivalent (which BTW replaced our now defunct audio tape collection, which also superseded our LP and EP collections).
Continuing the example, the iPod can store anywhere between 1000 and 5000 songs depending on the size of the hard-drive, which of course depends on how much you’re willing to spend. But, will an iPod be all that I need 5-10 years from now.
As a teenager, the SONY Walkman was the biggest thing since sliced bread and every teen hankered after it. Today you can pick them up for less than $5 at a garage sale and the audio tapes they played will probably be included in the deal.
Technology is moving at such a fast rate with every consumer chasing the next big item that will change the comfort levels of their own lives. It wasn’t that long ago that the 5¼in. storage disk was replaced by the 3½in. disks. My new computer doesn’t even have a slot for the 3½’s.
Which brings me to the dilemma facing some students in the web report, “High Schoolers Pick Web Yearbook”. Teenagers are turning to the web to store their yearbook photos and therefore hopefully save $70. Makes a great amount of sense but what if the technology has changed so much when they hold their 25-year school reunion the pictures are no longer accessible.
It’s possible. Why do you think so many companies are now popping up offering to convert your VHS movies onto DVD. It wasn’t that long ago those VHS movies were being created from Super 8 reels.
And what do you think the cost of all this transferring to the next form of technology is costing?

(more…)

Frugal savers give millions

Posted on 26. Jun, 2006 by Stuart in Donations, Frugal Tips, Savings

I am still yet to ascertain the wisdom in saving mobs of money only to bestow it on others after your death, however I’m sure that if I were a recipient I wouldn’t be making too many waves about it. Two women on opposite sides of the globe have performed such an action in the past few months.
The first frugal endowment came from an 96 year old English woman who shocked her family when she bequeathed nearly £11million to her nieces and nephews. She had lived a very simple life and her only luxury possesions were a £2500 jewellery collection and a Picasso etching worth £2000.
Her friends and family were staggered that she had horded that amount of money without spending it on herself or tothers during her lifetime. The reason; she didn’t want to be treated differently.
The second bequest came from a 90 year old public school teacher who gave more than $1million dollars to a Milwaukee college and established a $440,000 scholarship fund at the University of Wisconsin-Milwaukee and a fund at the West Allis Public Library.
Marian Breskvar had amassed her fortune through frugal investing and had not lived life of luxury either.
It astounds me that some people are like this. While I wouldn’t need to have a Porsche in the driveway to feel content with life, I would probably consider it if I had these ladies wealth. While being frugal should be a quality that is taught and respected, hording wealth should not.
These women’s money had been tied up for such a long time, both of them were 90+, and could have done more good in the community earlier than saving for the final exit. Each to their own, but that’s my view…

Frugal Champions: Extreme money management

Posted on 26. May, 2006 by Stuart in Budgeting, Frugal Tips, Personal Debt, Savings

Imagine paying a $20,000 debt in 5 years with only a $22,000 annual income. Apparently this is what Tawra Kellam did after seeing her mother raise two children as a single parent on less than $500 per month.
These two frugal champions have now published a book “Dining on a Dime Cook Book” and operate a highly regarded website www.livingonadime.com.
In this article, “Think thrifty: save yourself from spending” [Link since removed] the writer explains some of their great tips on saving. Wise advice such as reducing the amount of drinks the families buy to cleaning up the kitchen in the morning which prevents your psyche from wimping out and ordering take-away at dinner. They’re not coupon pushers and actually advise that these methods don’t actually save your family money.
They recommend implementing one change at a time and being successful with that change before introducing another. These great tips could help your family back on the road to financial recovery.

Is the Piggy Bank sacred?

Posted on 17. Apr, 2006 by Stuart in Budgeting, Savings

If Jew’s are considered the most financially savvy race and pork is not kosher why do we have piggy banks? Do Jews have piggy banks?
It’s one of those “When in Rome do as the Roman’s do” type scenarios. If you want to learn from the best you need to mimic their behaviours. It seems this could be a key on how Jews teach their children about saving and budgeting. Maybe there’s a lesson for us all here?
Maybe they just have a little jar or tin to stash the coins that accumulate in their pockets and wallets? It could be a simple as that. Perhaps, they don’t need to save. Maybe they’re just so financially savvy that they don’t actually have time to put their loose change into anything at all? Who knows? Who cares?
If you’ve ever wondered where the piggy bank idea came from take a moment to read this article.