In the past we have talked about whether or to spend the money on organic foods. The debate stems from the old healthy versus thrifty argument. Organic foods are commonly more expensive than its processed counter parts but are the health benefits worth the extra cash, or is there another way to get the healthy stuff without having to toss up a bowl of freshly chopped dollar bills.

Well our friends over at Mint.com compiled a list of great organic saver tips for those who don’t want to sacrifice their health or cash. Here are some of our favorites:

“3. When shopping for deli meats, choose the store-baked meats (and don’t buy these from a place like Whole Foods; way too expensive). They typically have the least amount of preservatives and taste the best. No need to buy organic. Also get your deli meats fresh cut and not in prepackaged containers. You will save at least 50% by waiting in line with your little paper ticket.

10. You don’t need to buy organic frozen meals. All frozen meals are high in salt and that is typically the big offender for frozen meals. Regardless of whether or not they are organic, they will still have a high salt content. Limit your frozen meals, they aren’t really healthy.”

Would these tips push you off the processed ledge and into the organic crowd?

Sources: Mint.com
Photo by: Nathaliederain // CC 2.0

Looks like the government is getting their erasers out when it come to some peoples mortgage debts. A $14 billion plan has been announced that gives lenders incentives to give the unemployed slashed mortgage payments and to even erase some mortgage debt.

Reuters says:

“The new aid programs, funded from the $50 billion allocated to housing rescue under the Treasury Department’s Troubled Asset Relief Program, will also allow borrowers to erase mortgage debt down to a maximum of 115 percent of their home’s value by refinancing through the Federal Housing Administration.

The plan comes as President Barack Obama is under increasing political pressure to change his strategy for helping struggling homeowners and stem the tide of rising foreclosures and is the second major housing initiative announced in as many months.”

The plan is modeled after a plan announced by Bank of America earlier this week.

Check out the full article and let us know what you think about the government whipping out their debt erasers.

Photo by: Pinksherbet // CC 2.0
Source: Reuters

Here at MoneyLounge we appreciate our readers, and to show our appreciation we are going to give you an insider tip that could earn you an easy $3,000 to pay those housing bills.

Starting April 1st, Shore Mortgage is launching a special contest that will award 3 winners $3,000 each and 1 winner $1,000 to pay housing expenses!

Want in?

All you have to do is stay tuned to MoneyLounge in the next two weeks and we will give you insider information about the contest a full week BEFORE it’s released to the public! Just our way of saying thanks for staying tuned.

So keep your eyes open and get ready to win big!

Photo by:Atanski // CC 2.0

The great thing about technology is it makes our lives so much easier. Spelling is checked for us, phone systems rout us to the department we need, emails are sent, and bills are paid all with the click of a button. Most of the time you don’t even have to click a button anymore, the machines and programs know when and what they need to do without your help! A big problem with this is people tend to get lazy and don’t check up on the program. People tend to get burned the most with automatic bill payments.

Paying your bills online is a great way to save paper, time, and sanity but when we use those extra features we tend to forget to check up on them. Automatic bill payment took a fast way to pay bills and made it so fast you don’t have to do anything! Set a date, give them an account number and the money is automatically taken out of the account.

What a great way to save time!

Time, yes. Money, no. This automatic payment allows people to be lazy and forget to check what is taken out of the account. You could get slightly over charged or even double charged without even realizing it. Even if you get over charged you will be able to get your money back, but then you have to take a day to make the calls, wait on hold, and deal with the service reps.

To combat this, say yes to online bill paying and no to automatic bill payments. If you make the effort to remember when your bills need to be paid and click pay on time each month, there is no way for you to be over charged for anything.

If you’re worried that this barbaric method of online bill payment will take up too much time, then you might need to reevaluate your schedule if you can’t find literally 5.2 free seconds to click the pay bill button. It’s time to revolt against the machines and take back what is yours. Your money!

What are your thoughts on automated bill payment?

Photo by: Donsolo // CC 2.0

On May 19, 2009, the Credit Card Accountability Responsibility and Disclosure Act (CARD) was passed and set to go into effect February 2010. Well it’s February and if you haven’t already, it’s time to learn about the CARD act and how it affects you.

First of all, the CARD act protects the holder from unfair rate increases and term changes. With this new act, all promotional rates must last at least six months, rate increases do not affect previous balances, and your rates can not go up in the first year of a new card.

CARD also protects holders from high fees. Now you cannot be charged a fee if you go over your limit, unless you opt into over the limit transactions. This is great for all of you who get a little plastic happy from time to time. The act also requires any penalty fee to proportional to the violation.

For all of those who worry about paying the bills on time, it is now required to send the bill out twenty one days in advance instead of fourteen. This is a great opportunity to start working on your budget a few weeks ahead of time.

If you ever had a problem with your terms and rates of your card, you will now be given forty five days notice if your rates or fees increase.

Young adults get a piece of the action by getting increased protection for students against aggressive credit card marketing.

There are many more changes to the way we use credit and they can be viewed at the United States Senate Committee on Banking, Housing, & Urban Affairs website.
It’s very important to stay current on all the new credit laws so you don’t get blindsided by anything dealing with your credit.

What are your thoughts on the new CARD act?

Photo by: Andresrueda // CC 2.0
Source: United States Senate Committee on Banking, Housing, & Urban Affairs

It’s hard to quit, especially when there are so many places to do it at. A few things here, a few there, it is just so easy to get caught up shopping! MoneyLounge is all about saving money, controlling spending, doing projects yourself, and paying off debts, but we understand that some habits are hard to break. So if you just can’t stop, who are we to force you? Instead here are some great ways to shop till you drop, before you bank account does.

Get an outlet: Outlet store that is. These stores are perfect for picking up name brand items for a fraction of the cost. The reason they are so cheap is because they might have a slight factory defect or different size but if you do some hunting, you will be able to find some great bargains.

Start clipping: Scour the newspapers and internet to find coupons to the stores you want to shop at. A lot of places have coupons floating around for 20-50% off and that can really get you a long way in the savings department.

Cash or Credit: Sometimes you can save a lot of money if you sign up for the store credit card. Make sure you read the fine print because that discount card might end up having monthly fees or other hefty hidden charges.

Tag along: If you love shopping, convince a friend to let you tag along with them and be their personal shopper. This way you can have all the shopping fun without any of the debt.

No name: The best tip of all is to skip the name brands! Name brands have an enormous premium on them and the only difference is a little logo.

Shopping is a hard thing for people to quit but if you follow these tips, and practice in moderation, you will be able to cut those bills in half.

What shopper saver secrets do you have?

Photo by: Colinwhittaker // CC 2.0

You got to have it every day. If you skip it, you start to crave it and can barely make it to the end of the day without it. It’s such an expensive habit but you there’s no way of quitting. It’s even got its own time that people go out to get their fix at the same time every day.

Noon.

That’s when it’s time for lunch!

Most people don’t have the time to head home to eat so they are forced to spend money every day and grab a sandwich, quick burger, or a tasty slice of pizza. This drains your budget very quickly and isn’t the healthiest of options. Use some of these lunch money saving tips so you can keep your budget from starving:

Sandwich savings: This is the most essential tip to saving money at lunch time. For the cost of lunch at a restaurant, you could buy a loaf of bread and lunch meat which lasts much longer than one burger and fries.

Green bag it: Instead of bringing lunch in a brown bag every day, save the money you spend on buying bags and use a reusable tote or lunch bag. Yes it’s true, you can buy a classy reusable lunch bag that doesn’t have Sponge Bob or Dora on it so you don’t have to worry about any heckling co-workers.

Bulk up: Start buying lunch items in bulk. You know you have to eat lunch every day so it won’t go to waste. Look for variety packs so you don’t get sick of the same flavor snacks every day.

Round two: Make too much dinner last night? Don’t throw it out, pack it up for the next day and have a gourmet lunch that will leave your co-workers wanting to trade their fast food for your delicious Tupperware supreme.

Hit the bottle: Not in the traditional sense…that might get you in a little trouble at work. Pick up a reusable and washable water bottle that you can refill every day as an alternative to feeding cash into a pop machine. This saves a lot of money in the long run and will most likely keep you off that sugary soda.

Bring an entourage: It’s really hard sometimes to bring a lunch because all your co-workers go out to lunch and who wants to be left to eat by themselves at work. Encourage others to bring their lunch or plan a meeting place outside of work like at a park where people would have to bring a lunch to join.

You got to have it but you don’t have to pay that much for it. You work too hard to do accounting at lunch, so chow down on lunch instead of your budget.

What is your favorite “from home” lunch?

Photo By: Akagami // CC 2.0

Every year, about this time, a little flying baby comes around and shoots his heart shaped arrows on to couples for one of the most romantic days of the year. Well those arrows start to cost a pretty penny when you add up buying a gift, dinner, and any other Valentine’s Day trinkets, so maybe this year it’s time to start arrow dodging.

Luckily for you and your sweetheart, there is no need to skip the swoon-fest, there are plenty of ways to have a hearts and arrow filled V-Day that won’t leave your wallet heartbroken.

Get crafty: Instead of spending money on a card from the store, grab some old magazines, scissors, and glue to make a card from the heart. This saves at least five bucks and it is much more personal. So get cutting and start saving!

Don’t forget about the presents! Look around the house and make a crafty, from the heart, gift for your special someone and skip the pricy stores. Try making a special dessert with things you already have in the kitchen.

Skip the bistro: You know everyone is going to be heading out to the restaurants, so make a delicious meal at home and have a picnic next to the fireplace. Way more romantic and wallet friendly, and you don’t have to get stuck paying extras like tips for servers or waiting to get a table.

Close to home: Instead of jetting off to a cabin somewhere, take the weekend and spend the entire time with each other. Play games, watch movies, or just sit around and talk, the point of the day is to spend time with each other not all your money.

Coupon Clipper: Make a coupon book for your romantic interest with vouchers for different chores like cleaning the house, washing the car, or giving the dogs a bath. These are not only a great way to show you care but the cash you save will really make your heart flutter.

There is no need to go out and empty your bank account just to show you care, the best (and least expensive) gifts are the ones from the heart.

What kind of inexpensive Valentine’s Day ideas have you had in the past?

Photo by: Eddellyn // CC 2.0

Penny Pinching has always been an advocate of saving money, making smart purchases, and finding that hidden cash, but sometimes when you pinch too hard it hurts…your wallet. Looking for great deals is one thing, but if you keep pinching you could find yourself spending more way more in the long run. So here are some penny pincher rules you should live by:

Know how hard to pinch: On things like electronics or cars, do your research on the pinched item. If you don’t and end up going for the cheapest of the cheap, you might find yourself pinching a lemon and that always ends up squirting lemon juice in your financial eye.

Pinching hurts: Penny pinching is a great way to save money and cut some finical corners, but when it comes to things that involve safety, like bike helmets or other safety gear, you might want to spend the extra few bucks to get the higher rated helmet or gear. It’s really hard to pinch from a coma.

Don’t pinch others: It’s one thing to pinch yourself, but pinching others is mean. You should refrain from pinching tips in restaurants, the servers only make two dollars an hour and you are their main source of income. If you received poor service, don’t skip the tip, just leave twelve percent instead of eighteen.

Safety products are a concern here too. If you have children to provide for, don’t skimp on their safety products, it’s much better to spend extra on a helmet than on a doctors bill at the hospital.

Penny pinching is an excellent way to cut corners and keep the pennies in your pocket, but when you pinch too hard you are left with a financial bruise that might not go away for quite some time.

Do you know someone who is a chronic over pincher?

Saving money can be such a chore. First you have to take money you otherwise would spend on fun things, and put in one of those boring banks where it just sits there not entertaining you. Then once you do that, when you get another fun chunk of extra dough, straight to the cold, lonely, and boring vault with it. Well saving money doesn’t have to be the drab funless vacuum that it can be made out to be.

Try some of these money saving games that put a little pep into saving some extra cash:

5 Hide: If you stick to the rules of this game, you stand to save a lot of money and fast! For an entire month, every time a five dollar bill is in your possession, sock it away in a jar or piggy bank. So when you get change, and a five spot is in the mix, put it away. Then at the end of the month count up all you saved and use it pay your bills, get some groceries, or put it towards your retirement.

Swear Jar: This one is self explanatory for any of you who have gotten the soap in the mouth treatment. Set your foul mouth fines at a dollar, keep tally throughout the day and pay up when you get home.

Cash out: This game you can turn into a competition with a friend and see who can cut spending out the longest. That’s right the person who goes the longest without spending any money, cash, check, debit, or credit, wins the game. You can obviously exclude utilities, mortgage, rent, and any bills that would get you in trouble if you didn’t pay up, but anything else is off limits.

Resolution Solution: We all made New Year’s resolutions this year and if you’re like most people, they withered away by now. Revamp that resolution where if you break it over the next year you owe twenty bucks to the bank! It’s a win-win!

What Raise?: If you are fortunate enough to be awarded with a raise at work, see how long you can pretend you didn’t get it. Take the extra money and stash it immediately in the bank, after all you made it this long without the extra green, why not save it for a rainy day?

You can obviously alter the rules to the games to fit your own budget, and you can even place a friendly wager if you play against a friend to make things more interesting. This way, the old stingy way of saving money becomes fun again!

What different types of money saving games can you think of?

Photo by: Unloveable // CC 2.0