M. Beddingfield

Don’t Adjust Your Thermostat: Why I Don’t Turn Down The Heat at Night

January 26, 2019 By M. Beddingfield 76 Comments

I tend to be a bit bullheaded at times. Well, maybe more than a bit, but just because everyone else is doing something doesn’t mean it’s the best thing to do. This is my opinion from my own experience and I suggest you do your own research to find out what works best for you and how your heating bill reacts to different adjustments.

Take the advice that you hear everywhere about turning down your thermostat. Many people turn down the thermostat when they leave for work or are away from home for a day. No one will be there to get cold, so why leave the heater running? It doesn’t make sense to heat an empty house. That’s where I say they’re wrong. It does make sense to heat an empty house because it’s easier for your heater to maintain a certain temperature than to spend an hour or more trying to bring the heat up to a comfortable level. Making your heater work so hard will wear it out much quicker than letting it do its job and maintain the heat in your house.

Set The Thermostat at 68 And Leave It There

I’ve often heard people say they turn the heat down at night. Why? Don’t people get cold at night too? Isn’t night often the coldest time? If you are turning the heat down for your own personal comfort then that’s a personal preference, but if you are turning it down to save money, then I must ask, why? Why suffer being cold for the first hour you are up and about every morning? Why make your heater work so hard to heat up your house? Why not just set the thermostat at a comfortable level and leave it there?

In the winter time, our thermostat is set at 68 degrees. That is our comfort level. Yours may be more or less. If we get chilled, we snuggle under blankets or put on a sweater. If we get hot, we strip down to t-shirts. We have hard wood floors that tend to be cold, so we wear socks and slippers. We also have numerous throw rugs that help to keep our feet warmer.

I’m not saying to put your thermostat at 80 degrees. I know some cold-natured folks that would still feel chilly at 80 degrees. I’m saying that if you set your thermostat to a reasonable temperature, and leave it there, then you can regulate your own body heat by adding or subtracting clothing. By the way, some experts say that 72 degrees is the optimum ambient room temperature in both winter and summer. This philosophy works in the summer too. We set our air conditioner at 78 degrees and leave it there.

Adjust The Thermostat and Let Your Body Adjust

Our heating and air conditioning bills are usually less than our neighbors who have houses that are very similar in size and construction to ours. They, like so many people, adjust the thermostat several times a day according to how they might feel at any given minute. Here’s a novel idea, stop adjusting your environment to fit you and allow your body to adjust to your environment. The human body is a marvelous piece of machinery, it adapts quite well to temperature changes.

No one person is the same when it comes to comfort levels. In an average family of four, at any given time, one will be hot, one will be cold, one will be comfortable and the last one won’t notice the temperature. By setting the thermostat to a reasonable level and leaving it there, each person can adapt by adding or subtracting clothing. Your heater will thank you and perform its job longer and more efficiently because you are letting it do what it is designed to do, maintain a certain temperature.

If you are concerned with your heating bill, try setting the temp just a few degrees less than you would normally set it. Allow your body time to get used to the new setting. Leave the thermostat alone and you might be surprised at your savings.

(Photo courtesy of Geoffrey Fairchild)

Barrel of Monkeys or Barrel of Money?

January 17, 2012 By M. Beddingfield 2 Comments

We all remember fondly the games we played when we were children. There is a simple game that kept me entertained when I was young. It was called Barrel of Monkeys. My Barrel of Monkeys came in a bright yellow plastic barrel with twelve monkeys inside. The monkeys’ arms were sort of S curved and the object was to hang or hook together as many monkeys as possible without them falling apart.

If you followed the original instructions, the little plastic monkeys were made in such a way that stringing together more than six or eight resulted in monkeyshines – the monkeys went flying everywhere. I used to hang the little buggers off of everything, curtains, trees, knobs, whatever was handy.

Money and debt can be compared to that bright yellow barrel full of monkeys

When the monkeys are all tucked safely into their barrel, they have no entertainment value – they don’t do anything. But, the anticipation of fun is of value. Money, tucked safely away, in a savings account or under a mattress, has anticipation value and little else. Savings accounts presently pay so little interest that they are merely a place to keep money; much like the yellow barrel was not a part of the game, just a place to store the monkeys.

Now let’s analogize further, think of each silly monkey within the barrel. Pretend that the monkey symbolizes a hundred dollar bill. Every month, you try to organize your debts, one by one, and pay them off. But the balancing act fails and your monkeys refuse to cooperate. They would rather be off eating bananas somewhere.

What would happen if you gave your monkeys a firmer foundation to hang from instead of letting them fall willy-nilly out of the barrel onto the table? You would be able to hang more monkeys. So let’s make the yellow barrel a part of the game. The monkeys hang quite well from the edge of the barrel.

Many people have savings accounts and a heavy debt load. A savings account gives a sense of security. You know the money is there if you need it. Now, I’m going to be blunt; if you have a savings account that pays 2% interest and a credit card that you have to pay 14% interest on the balance – how are you actually saving money? It’s time to hang your monkeys from the edge of the barrel. Take the money out of the savings account and pay off those bills.

I will admit that it’s scary to use the money in your savings account. But you absolutely have to prioritize and see the bigger picture. If you pay off your debts, you can put more money into your savings at a quicker rate. It’s as simple as that.

I’m not suggesting that you empty your savings account. It’s important to leave enough in it for small emergencies. I think that an amount equal to two months income is sufficient for a short time. This amount will cover small emergencies like car repairs and keep you motivated to pay down the bills.

Organize your debts by amount and interest rate. Start with the smallest bill with the highest interest rate. Prioritize it exactly like that – the smallest amount first, then the highest interest rate. Say you have a doctor’s bill that is $200 and the interest rate is 0. You also have a SuperMaster Card that is $200 and the interest rate is 13%. Pay the SuperMaster Card first, then the doctor’s bill. After you pay those two off, pay the next lowest bill with the highest interest rate and so on, this is the way you make your money work for you. When you are no longer paying out 13% interest, the money you put in a savings account will actually grow, even at a low interest rate.

If you are laboring under a heavy debt load with high interest rates, you can apply the same principle to the amount you put into your 401k every payday. I don’t advocate taking money out of a 401k to pay down debts (definitely know the solo 401k rules), but it can be useful to stop paying into a 401k for a year or so until you eliminate your debts. Then when you resume 401k contributions, you may be able to up the amount you contribute. After all, you won’t have any debts because you paid them all off.

Paying off debts takes a multi-faceted approach. You have to look for different ways to increase the amount of money you can apply toward the debt. It’s not always possible to get a second job to increase your income, so you must look for other ways to free up cash flow. If you really start to examine where your cash is and what it’s doing, you will start to look at money in a whole new way.

You don’t have to be a child to enjoy playing games and you don’t have to be an accountant to understand that saving money at 2% and paying out money at 13% is not really saving money. You do the math and decide which you would rather have; a barrel of monkeys or a barrel of money.

The Media, Recessions, History and Attitudes

February 14, 2009 By M. Beddingfield 5 Comments

The media would have us all believe that our beloved country has its foot to the floor in a race to heck. Everywhere you turn; there are reports of more business closings, higher unemployment and threats of losses in every quadrant of the nation. People are worried sick about what might happen. What might happen?

I think it’s time to turn off the news and let the big boys play ball with each other. Some of you might think that this is like the ostrich sticking its head in the sand but I know that history has a way of repeating itself. The economy goes through cycles. Let’s consider a few facts.

In the early 1990’s there was a recession, complete with high unemployment rates and Black Monday; where the Dow Jones suffered a record loss of 22%. High levels of unemployment and a huge government budget deficit continued for years. Yet our country continued to grow, progress continued to be made, especially in the field of technology. People prospered.

In 1980, there was a short recession of about six months. The housing market and automobile manufacturing were two of the hardest hit industries. Then, in 1981, there was an even worse recession, compared often to The Great Depression. The Federal Reserve responded to the recession by raising interest rates. The federal funds rate went as high as 20% in June 1981. The prime interest rate rose even higher to 21.5% by June 1982. This plunged the overall economy into a deep recession.

In December of 1982, the unemployment rate in the U.S. was 10.8%. The current unemployment rate is 7.2%. In the early 1980’s, the biggest job losses were in the housing, automobile and steel industries. The same is true today. In 1982, there were a number of bank failures and the FDIC spent millions purchasing bad loans. The following year saw even more bank failures.

When the current President, Ronald Reagan, finally admitted that we were in a recession, he raised corporate taxes and lowered interest rates. These measures gradually led to economic recovery.

Then there was the 1970’s. Remember the 1973 oil crisis and the 1979 energy crisis? I was just a teenager, but I remember well how everyone constantly talked about the problems. The same as today, the news and every type of media could only talk about how bad it was and how bad it was going to get.

I could go back every decade and find a recession, but this isn’t a history lesson. This is a blog about how to save money. However, sometimes we need a reminder about how things used to be, sort of a “good old day’s” reminder.

You know what worked back in the good old days? People lived within their means. The common folk, about 80% of America, tightened their belts, helped their neighbors and ate a lot of beans and rice. They didn’t buy new things; they fixed what they had or did without. They didn’t measure their self-worth by their net-worth. They had a certain attitude towards money that we can’t seem to get a grasp on today.

That attitude was – if you don’t have the money, don’t spend the money, pay your bills on time, help your neighbors and save every penny you can for a rainy day. Sounds like a pretty simple approach doesn’t it?

Frugal Love

February 1, 2009 By M. Beddingfield 10 Comments

Men dread Valentine’s Day. Women love it. It’s a gal’s holiday. I realize that this is a generalization, not all men dread Valentine’s Day and not all women love it. But in general, women are more geared towards all that romance and mushy love stuff.

So, how can a woman please her man on Valentine’s Day cheaply while attempting to not go overboard or be excessively mushy? I have a few pointers to share that just might work for you, keeping in mind that what works for some might not work for others. Feel free to take these tips and expand them into your own ideas.

1. Most guys don’t like a big show, especially in the workplace, so don’t send him flowers or balloons. While he might like it, he will also be embarrassed in front of his co-workers and friends. Instead, try dressing nicely and surprising him for lunch. If necessary schedule the lunch date, but take him home for a sandwich and let him have you for desert.

2. Anybody can write love letters. Try writing yours on your body with washable vegetable ink. Start on the palm of your hand and work your way up and across and around and down – you get the picture. It will be one love letter that he will never forget.

3. It’s no secret that guys love tools and gadgets, cars and guns. Volunteer to spend the day window shopping at all of his favorite spots. Make an effort to really listen when he gets excited about some new tool or gadget, ask intelligent questions and show that you’re interested.

4. Ask him to show you how to change the oil in your car. Prepare to get a little dirty and don’t fuss about it, this is something you need to know anyway. Men like to know that their women can do guy things if they have to. He’ll probably think you’re cute when you have a grease smudge on your face.

5. Stock up on the beverage of his choice and borrow some hardcore guy movies that you know he likes. Don’t try to distract him while he’s watching the movies, just be his buddy. Make his favorite snack foods and let him have the day off, if he sneaks in a nap or two, that’s all right.

6. Make him a note for Valentine’s Day on your computer then use it to wrap a giant size candy bar. Tell him that you love him more than the amount of calories in the candy bar. Then let him eat it all.

7. Shower, shave and apply a few drops of his favorite perfume, then put on his favorite football jersey, with little or nothing underneath. Meet him at the door and tell him you want to play football. (Feel free to substitute other sports here)

8. Believe it or not, men like to be pampered too. They will appreciate a nice hot bath, maybe some relaxing music in the background, followed by a long massage to ease tired muscles. Follow with his favorite meal and a nice after dinner drink. Keep the conversation light and minimal. A long, relaxing evening is priceless.

9. Do something he’s been asking you to do, but you don’t really want to do. It’s all about putting his wants before yours. Maybe he wants to take you to a sporting event or for a hike. Maybe he wants you to fix that really time-consuming and difficult desert that you made once when you were dating. Whatever it is, do it for his Valentine’s Day gift. He will value your desire to make him happy and love you all the more for it.

10. Rent the car/truck of his dreams for an afternoon. This one might cost a few bucks but he will be in heaven. Let him drive it where ever he wants, maybe even show it off to a few of his friends. Share his joy and enthusiasm while allowing him to dream.

The biggest thing to remember is that while men might not be overly romantic, they still enjoy the fact that women are. Men also like to know that they are appreciated and loved. It doesn’t take big bucks to show a little appreciation and love.

Dieting on a Dime

January 31, 2009 By M. Beddingfield 7 Comments

The number one New Year’s resolution is to lose weight. The first few weeks of January are past and a lot of people are sticking to that resolution. I’m on a double diet. I’m trying to lose weight and control spending. It’s turning into a real challenge.

For many, dieting is synonymous with eating healthier and changing eating habits. But, let’s face it; eating healthy can be more expensive than eating on the cheap. Food venders caught on to the dieting madness long ago. You can purchase high-priced diet food in every department of the supermarket, from frozen entrees to 100 calorie snack packs. Convenience foods are a big seller and the downfall of many frugal dieters.

Most diets call for the addition of fresh fruits and vegetables. It’s a well known fact that fresh fruits and vegetables are required for a healthy lifestyle. Fresh fruits and vegetables are expensive, especially in the winter.

So what’s a frugal dieter to do? Spend the money and lose the weight or stay frugal and fat? Through trial and error, I’ve found that you can indeed stay frugal and lose weight. Here are a few tips that I would like to share.

Substitute frozen fruits and vegetables for fresh: With today’s modern flash freeze methods, very few nutrients are lost in the freezing process. This makes most frozen food the closest to fresh that you can get. Look for store brand frozen fruit such as blueberries, strawberries, mixed berries and peaches. These are comparable to name brand in taste and quality. Never buy frozen fruit with sugar added. When purchasing frozen vegetables, store brand are not as good as name brand, they tend to have lower quality stems and ends added. Look for sales on name brands and stock up. Stay away from anything that has additives like butter sauce or cheese sauce.

Shop the soup isle: Calorie-wise and cost per serving, there are many good soups that will keep you on track with your diet. My favorite brand is Campbell’s Select Harvest Light. At $1.50 per can you get two servings at around 80 calories and no MSG. You also get lots of veggies, taste and fiber. The sodium content is rather high, so watch out if you are on a salt-restricted diet. Shop for best prices and look for coupons. Stores such as drug stores and dollar stores often carry soups at a reasonable price. I have found great prices at places like Walgreens, Fred’s Dollar Store and Family Dollar.

Repackage or prepackage: Don’t fall for the over-priced convenience packs. You can easily pack your own snacks. Invest in a nice little thermos to take your soup to work in. Repackage crackers, cookies, veggies or sliced cheese in little zip lock baggies. If you’re short on time during the workweek, do it on Sunday for the entire week.

Make your own oatmeal: Don’t buy the presweetened, highly enriched kind. Not only is it much more expensive, it’s not any better for you. The same goes for cereal, the more additives and the higher the cost. Plain shredded wheat cereal is a good diet alternative, nothing but wheat and full of vitamins and fiber which will help curb your appetite. Try munching on it dry for a quick snack.

Drink water: Water is the most overlooked, cheapest diet aide available on the market today. Water will help your body process the fat you are trying to lose. If you drink an eight ounce glass before a meal, you will consume less food. Don’t buy bottled water. If your home has bad tasting water, invest in a screw on type filter for the kitchen faucet. If your office has bad tasting water, fill a gallon jug or several bottles at home and take them with you.

Find free places to exercise: Walking is free and the best all-over form of exercise. Renew old friendships and form a walking club. Find a place with stairs or bleachers to add challenge to your walking routine. Make a jump rope out of rope you have laying around. Spend a night dancing to the oldies on the radio. Play ball with your kids. Make weights out of old milk jugs by adding sand. Chop wood. Clean house. There at least a thousand ways to exercise for free.

Turn off the Television and cancel the cable bill: This drastic step just might motivate you to get off the couch and find something to do. Any movement burns calories; sitting on your bum makes it wider. You will save money on the cable bill and may rediscover new ways to relax that are healthier for your mind and body. Try reading while taking a nice hot bath or chatting with a friend over a cup of hot green tea.

Invest in a good multi-vitamin: When shopping for a multi-vitamin, it’s important to compare labels. Often a much cheaper store brand contains the same vitamins that a name brand does. Also look at expiration dates. When dieting, sometimes it’s difficult to maintain a balanced eating regiment; vitamins will help you stay on track.

Eat breakfast: Change your eating habits and make breakfast the largest meal of the day. Breakfast foods are among the least expensive of all foods. Eat whole grains, dairy, protein and fruit. A good example of a healthy breakfast is a bowl of oatmeal, a slice of whole grain toast with peanut butter, half a cup of fruit and an 8 oz glass of low fat milk. A good breakfast will take you all the way through the morning without feeling hungry or run down. The calories you consume in the morning will burn away and calories you consume late in the evening are less likely to be used.

These are some of the ways that I keep my spending in check and stay on my diet. I hope some of these suggestions are useful. Dieting and staying frugal can be stressful, but if you use common sense and stay on track, it’s not so difficult.

Frugal Love

January 27, 2009 By M. Beddingfield 7 Comments

Romance doesn’t come wrapped in red foil and stuffed in a heart – shaped box. Chocolate is nice but not the best idea for someone watching their weight. And while we’re on that subject; one size does not fit all, so be careful buying clothes for your loved one. When it comes to making a woman feel special, it really is the thought that counts.

So guys listen up – women like little corny things just as much as they like big extravagant presents. You can make this a Valentine’s Day to remember and it doesn’t have to empty your wallet. I’m going to share a few frugal ideas with you, but feel free to improvise and kick things up a notch with your own personal touch.

Have your love’s car detailed or do it yourself: Make sure the inside is as clean and nice as the outside. Don’t forget to include a nice scent that you know she will enjoy. Add the ultimate guy touch and check all the fluids, tire pressure and fill the gas tank while you are at it.

Take a day off and clean the house from top to bottom: A nice, sweet, clean house is a known aphrodisiac for many women.

If there is a list of chores that she has wanted you to do for months, now would be a good time to complete that list. She doesn’t like to nag and you don’t like to hear it. Clearing away the chores makes way for other, more pleasurable pursuits.

If she has a favorite hobby or pastime but doesn’t get to indulge in it very often, show her that you care by either creating leisure time for her or purchasing a gift card that she can spend however she wants: This is a thoughtful endearing way to let her know you understand and support her interests.

Do something just for her: It has to be something that you wouldn’t normally do, like agreeing to watch that chick flick with subtitles and let her sob on your shoulder when the wimpy hero dies.

Create an evening or off day with absolutely no pressures or distractions: Turn off all phones and let her rest, even sleep if that’s what she needs. Order takeout or prepare a simple meal, draw a hot bath and lay out her comfy clothes. Don’t let her lift a finger to do anything. She will appreciate the opportunity to rest and recharge.

Treat her like you did when you were first dating: Try to remember what it was like way back when. Open doors for her and extend more than just common courtesies. Look into her eyes and tell her how pretty she is. Flip the switch on that old, boyish charm and let her have it full force.

If you feel you must succumb to commercialism and buy her flowers, at least consider something beyond roses: A potted plant is nice and it keeps on giving. If she has a favorite flower, like daisies or carnations, show that you are paying attention and buy those instead of roses. From the frugal aspect of flower buying, you’ll find that a discount store such as Wal-Mart or grocery florist will have much cheaper flowers that are just as pretty as an expensive florist. Or consider giving her one perfect rose in her favorite color – one perfect flower for your one perfect love.

Recreate a special shared memory: Be it the spot where you had your first kiss or the first time you said I love you. Every relationship has memorable moments. Show her you treasure those moments as much as she does. Women adore this kind of stuff.

Ask her what she wants: Snuggle up in a comfortable spot, turn off the TV and find out what she really wants. Look deep into her eyes and reconnect. It may be that simply spending some quality time together is all she needs. Time is a cheap commodity but sadly lacking in many busy relationships. Give her your undivided attention and reap the rewards.