(James Buck)

Last July, we examined the California budget crisis, explaining the state’s massive $26.3 billion budget deficit as a result of borrowing against anticipated future revenue to meet current budget requirements. In one sense, such behavior is understandable from a political perspective. To reside in California (and particularly to own a home there) between 2002-2006 was to ride a gravy train like few others in American history. Already the world’s eighth largest economy in isolation, California’s robust market soared even higher on the wings of artificially inflated home prices. In his penetrating book The Housing Boom and Bust, economist Thomas Sowell writes that, “…at the height of the housing boom in 2005, the top ten areas with the biggest home price increases over the last five years were all in California” – this despite the fact that, “…California home prices were once very similar to home prices in the rest of the nation.” Various factors (”open space” laws and land use restrictions foremost among them) are offered as explanations, but for our purposes, suffice it to say that the eye-popping increase in home prices triggered an unprecedented wave of consumer borrowing. After all, when home prices rise at a rate of $2,000 per day (as they did in San Mateo county during March 2005), why not upgrade the kitchen or buy a new car? Needless to say, all of this economic activity sent tax receipts skyrocketing, prompting the state and municipal governments to increase their own spending.

But what went up has come down in a big way for California. With the ugly realities of what caused the budget crisis squared away, most Californians want to know what the fallout means for them personally.

Closed Parks

(docentjoyce)

A major repercussion of California’s budgetary woes has been the precarious fate of state parks. In May 2009, for instance, ABC News reported that Governor Arnold Schwarzenegger had proposed, “…closing up to 220 state parks” to help reduce the deficit, “…including popular attractions for millions of visitors each year, such as a park that is home to some of the tallest trees on earth.” According to Schwarzenegger, the closings would eliminate $70 million in park spending through June 30, 2010, after which “…another $143.4 million would be saved the following fiscal year by keeping the parks closed.” Such cuts would leave enough to run only 59 of California’s 229 state parks. While conservationists are fighting to keep these parks open (the UK’s Guardian quotes Tim Gibbs of the National Parks Conservation Association as saying, “…it’s almost as if they are shooting themselves in the foot”) it is looking increasingly likely that at least a significant percentage of the parks Schwarzenegger proposes closing will indeed close. The effects of this on Californians are twofold. For one, it likely means layoffs for most or all of those who work at the parks in question. Tour guides, park rangers, food and beverage staffs and maintenance crews would all presumably be out of work, at least for so long as the parks were closed. Given the number of parks in jeopardy of being closed, these workers are in danger of becoming a substantial addition to California’s ranks of unemployed.

Second is the fact that Californians will be unable to visit or use these parks in any way. The state has a rich legacy of outdoor beauty, and if the Guardian is correct in reporting the proposal could deprive citizens of 80% of state nature reserves, it represents a a serious blow to that legacy.

Furloughs, Fewer Holidays & Layoffs of State Employees

(milesghem)

In Connecticut or Rhode Island, the effects of a budget crisis on state employees might be negligible. But in a state as big as California, state employees comprise a significant chunk of the overall population. And regrettably, the story has not been a positive one for CA state employees since the budget crisis got into full swing. It began with Governor Schwarzenegger’s December 2009 executive order mandating the adoption of, “…a plan to implement a furlough of represented state employees and supervisors for two days per month, regardless of funding source. ” By July 2009, that had increased to three days out of the month, good for a savings of $1.3 billion according to the New York Times – which is roughly equivalent to a 15% pay reduction. Schwarzenegger also proposed eliminating the Columbus Day and Lincoln’s Birthday holidays, and changing overtime pay rules so that leave time would no longer be compensated by the state.

Outright layoffs have also occured and been proposed. CapitolWeekly.com reported on January 7 2010 that state employees are, “…likely to continue to feel the squeeze” as the Governor prepares his 2010-11 state budget. The mandatory furlough system (which affects 201,000 state workers presently) could be replaced in the new budget, substituting “…layoffs and a 5% pay cut” in their place. Californians will no doubt be keeping a close eye on the budget Governor Schwarzenegger ultimately signs, particularly as regards its effect on the state’s many employees, their work hours, benefits and salaries/wages.

Slashed Education Funding

(A.V. Lawn Service & Landscaping)

State education funding has also taken a severe hit in the aftermath of the budget crisis. Reporting in depth on the specifics of the state budget passed in July 2009, the New York Times revealed that “…the K-12 education budget, which also includes community colleges, lost $6.1 billion from its roughly $58 billion base.” On top of that, “…higher education took a $2 billion hit.” Given the importance of education to any state, it’s not difficult to imagine the negative impact these cuts may engender. PublicRadio.org, for instance, quotes California Superintendent of Public Instruction Jack O’Connell as saying, “…it’s the students of color, students who are poor, students who are learning English, or coping with learning disabilities, who need the most assistance. And equal cuts across the school, or across a school district, will be inequitably felt by them.” O’Connell speaks for many in California who fear that layoffs and the resulting larger class sizes will equate to inferior class experiences for students.

Layoffs have also been prevalent at state universities. The blog LayoffTracker stated that University of California, for instance was, “…looking at cutting salaries for all faculty and staff by 8 percent as one option in reducing an expected $800 million funding shortfall” as recently as last June. This and similar cuts around the state prompted universities to raise their tuition, which in turn prompted outrage from the public. Time Magazine reported in November 2009 that,”…University of California regents voted this week to increase tuition a whopping 32% to more than $10,000 annually — a three-fold increase in a decade.” The result was unbridled mayhem. Remarking on the protests that followed, Time recalls that “…about 2,000 students from the 10-campus system confronted riot police, shouted slogans and blocked building exits” in something reminiscent of “… a scene out of the angry 1960’s.”

Time also interviewed students about the impact of education budget cuts on them personally. UCLA sophomore Chimela Okwandy said, “…some of my friends wont be here next quarter” before concluding that ,”…before it was a question of how smart you were. Now, it’s do you have enough money to pay for school.” Outgoing California State University System chair Jeff Bleich goes even further, claiming that, “…California is on the verge of destroying the system [of higher education] that once made this state great” and insisting that, “…for every dollar the state invests in a CSU student, it receives $4.41 in return.”

The Takeaway

Californians from all walks of life have and will continue to experience hardships as a result of the budget crisis. Indeed, everyone from casual nature lovers to state employees to professors and students (and their parents) seem to be shouldering burdens from the fallout. One hopes that California tightening its belt and paying off its debts will be a precursor to economic recovery – sooner rather than later – and perhaps lead future generations of politicians to be more prudent during booms like the one between 2002-2006.

]]> http://www.mint.com/blog/trends/california-budget-crisis-2/feed/ 13 http://www.mint.com/blog/saving/drink-great-wine-on-a-budget/ http://www.mint.com/blog/saving/drink-great-wine-on-a-budget/#comments Mon, 25 Jan 2010 21:54:02 +0000 Carolyn Alburger http://www.mint.com/blog/?p=8232 ]]>

Unless you’re a real wine aficionado, you probably lack the confidence to know which of those bottles of wine on-sale at the local BevMo are a bargain and which deserve the appellation, two-buck-chuck. That’s why we’ve asked two Master Sommeliers to suggest some wines that can stand-in for more well-known (and expensive) bottles. With the right attitude and our handy chart, you’ll upgrade your wine cred, impress your guests, and save money.

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Photo: Daniel Y. Go

Everyone knows by now that long-term retirement planning is important, right? And you probably have some sort of budget or other system for planning daily, weekly, and monthly expenses.

Great. Glad to hear it. But what about those medium-term, medium-size expenses like vacation, car repair, furniture, and holiday spending? You know, the expenses that always seem to bite you in the ass?
Here’s my strategy: every time I get bitten, I open a new savings or checking account to collect money for a particular type of budget-busting expense. I’m now up to sixteen of them.

That’s just checking and savings accounts—it doesn’t include CDs or brokerage accounts. But bear with me, because I’m not insane: I really do have that many bank accounts, and it actually does make my life simpler.

In order to explain why I have so many accounts and why I think you should also have a bunch, let’s look into the past. (Cue dissolve and piano glissandos.)

The bad old days

I’m old enough, barely, to remember a time when most people had only two cash accounts: a checking account and a savings account. They were basically the same, except that the checking account let you transfer money to another person by writing on a little rectangular sheet of paper. This was so long ago that I can’t even remember what they called those things.

Schmecks, was it?
Back then, if you wanted to open a new account, you had to walk into the branch and sit down at a desk. If you wanted to set up an automatic monthly transfer between accounts—if your bank even offered such a service—you had to fill out paperwork. If you wanted to transfer money between accounts at different banks, you had to write yourself a schmeck or pay a wire fee. And if you had accounts at different banks and wanted to see them all at once in a single interface? Here, pal, take your free thermos and get out of my bank.

Yes, the good old days really sucked. Luckily, we don’t live there anymore, and we shouldn’t bank as if we do.

I have an emergency fund. A vacation account. A medical account. A short-term savings account. A home improvement account. An account to save for quarterly self-employment taxes. Each of these gets an automatic monthly transfer from my checking account.

To be clear, I do not have an account for groceries, entertainment, or rent. That really would be insane. This is only for unexpected expenses and things that take a few months to save up for.

A word from Chase

“Wait, wait, wait, you have 10 or 20 different accounts?” asked Tom Kelly, media relations staffer for JPMorgan Chase.

“Sure,” I said.

“To have all those multiple accounts, it’s complicated…you spend a lot of time on this?” He also speculated that I must be paying a bundle in monthly fees for maintaining low balances. (Chase charges $4 or $5 a month for savings accounts under $300.)

Well, he was right about the low balances, but I spend a few minutes—and not a dime in fees—on banking every month. Two of my accounts are with Chase. The rest are split between BECU (a Washington state credit union) and EmigrantDirect, a bank which offers online high-interest savings accounts.
Opening a new account at BECU or EmigrantDirect takes about one minute online, and it’s free. I can set up automatic monthly transfers between accounts and change them anytime. I can manually or automatically transfer money between banks for free. (This is called an ACH transfer, and some banks charge for it; be sure to ask yours.) And I can see all of my accounts together in Mint.com. If you’re wondering, having 16 cash accounts puts me in the top 0.6 percent of all Mint.com users. Where do I pick up my tiara?
Most of my accounts are savings accounts, and they earn a little interest. When I need to spend out of, say, the furniture account, I transfer money into my checking account (time invested: one minute) and head to Crate and Barrel.

What’s the point, though? Why maintain sixteen accounts when I could split all the money between one checking account and one high-interest savings account? Then I could use pencil and paper or Excel to keep track of how much of the savings account is dedicated to vacation, clothing, or medical. After talking to the guy from Chase, I started to wonder if I was a few pennies short in the mental account.

Join the Christmas Club

Then I spoke to BECU’s PR guy, Todd Pietzsch. Not only am I not crazy, said Pietzsch, but I’m not as cutting-edge as I think I am. “We used to have what was called the Christmas account, which is essentially exactly what you’re talking about,” he said. “But with today’s web-based technology, you can still have your Christmas account, you just name it ‘Christmas Account,’ right?”
Indeed I do. “So I’m not doing something you discourage?” I asked.

“Absolutely not,” said Pietzsch. “We identify the long-term goals that we have, and hopefully you do that through your retirement planning. But for your short- to mid-term goals, I think that’s a great tool to do that.”

Many credit unions, in fact, still have a Christmas account, usually called the Christmas Club. Typically, it’s like a hybrid of a savings account and a CD: you open it in January, set up an automatic weekly or monthly transfer, and pay a penalty if you withdraw before November 1.
There’s a penalty for withdrawal in my homebrewed system, too: Once the money is in a (virtual) box marked “vacation,” it’s like somebody stamped “vacation” on my benjamins. I feel dirty just thinking about taking money out of there and spending it on something else.
What I’m coming around to is a very old idea. Ever had someone recommend putting cash into envelopes marked with spending categories? This is great advice if you want to make a burglar happy, but it has never worked for those occasional major purchases, unless you own a kickass safe and hate earning interest.

Do it yourself

If you want to go down the many-accounts road, two caveats:
1. Choose a bank or credit union with an excellent web interface and unlimited no-fee deposit accounts. ING Direct, HSBC Direct, and many credit unions fit the bill. If you have to fill out paperwork to add an account or an automatic transfer, go somewhere else.

2. You can only make six withdrawals (of any type—transfer, ACH transfer, wire, ATM) per month from a savings account, or you’ll be socked with a big fee and possibly have your account terminated. So if you have a high-traffic spending category and want to use a separate account for it, make it a checking account.

Other than that, my system works great, no matter what Chase might say. Okay, here’s the downside: it makes saving so automatic and spending so guilt-free, you might sit all day refreshing Mint, like Scrooge McDuck with a computer.

Matthew Amster-Burton, author of the book Hungry Monkey, writes on food and finance from his home in Seattle.

Photo: J. McPherson

December means fuller social calendars, fuller bellies, and, for most of us, emptier wallets. You’d probably love to have a festive party, but the impending financial stress of such an event may numb the joy, or dissuade you from throwing something altogether.

We’ve asked two of the country’s most accomplished professional party planners for their tricks to throwing a successful bash without painful monetary investment. TV personality Joanne Weir authored Weir Cooking in the City: More than 125 Recipes and Inspiring Ideas for Relaxed Entertaining among other entertainment-oriented books, and Bibby Gignilliat began honing the art of the party long before she launched her first party planning company, Gourmet Gatherings, in 1999. She now owns Parties That Cook!, creating corporate team building cooking events and cooking class parties in San Francisco.

These innovative women both have a reputation for throwing top notch, elegant fêtes, yet they’ve recently had to adjust their party-throwing strategies as a result of the economic downturn. Here’s how they’ve found the path to indulgent, affordable entertaining, just in time for the holiday season.

Booze on a Budget

“It’s definitely the year for prosecco,” remarks Weir, referring to champagne’s sparkling cousin. This Italian wine provides better flavor than champagne at an affordable price point. “It’s the way to bring festive bubbles into your party without spending too much.”

“Boxed wine also deserves a second look,” says Weir. “My personal favorite is Black Box Wines. I empty the bag into a decanter, which looks elegant.”

Pot Lucks: Always in Season

It may seem simple, but sticking with seasonal ingredients is a great way to save money and keep the class factor high. “If you buy tomatoes in December, they’re coming from Mexico,” says Gignilliat. “They’re not going to taste great and are way more expensive than persimmons, pears, apples, and pomegranates, which are all relatively affordable and delicious this time of year.”

Gignilliat also strongly recommends pot lucks and buffets. “Everyone is always asking what they can bring to a dinner party. Pick a theme for guests to work from so the party feels instantly pulled together.”

Both experts also buy in bulk when appropriate. “You can find great quality proteins at Costco,” says Weir. “I buy a huge chunk of manchego cheese and serve from it throughout the holiday season.”

Weir loves this Spanish sheep’s cheese because it has become affordable, and a lot of people don’t know what it is. “Manchego is almost always a conversation starter.”

Impressive Edible Greetings

As much as we’d love to get all Julia on our guests, expensive, labor-intensive dishes are not in the cards for your budget friendly fête.

“We’re in an age where easy, healthful, and simple is chic,” says Weir. Her favorite elegant suggestions, requiring minimal sweat and dough follow:

Warm a mix of olive types with a bit of olive oil and a pinch of crushed red pepper in a sauté pan. Serve in small bowls as a pre-dinner snack.
Roast whole raw almonds in a 350-degree oven for 15 minutes. Toss with Kosher salt, a touch of olive oil, and some citrus zest.
Make your own gourmet chips by toasting pita bread in a 350-degree oven for 15 minutes. Sprinkle with salt, pepper, and olive oil.

Provincial Panache

“Think peasant food but serve it in elegant bowls or plates,” says Weir, who buys top round, bottom round, or chuck beef and braises it with red wine, onion, carrots, tomato, parsley, mint, thyme, bay leaf, and Savory Choice stock.”

When done, Weir blends the strained vegetables and herbs in a food processor with some Parmesan, then serves atop pasta as a starter. She plates everything in pretty serveware, including the beef roast with a simple side of sautéed broccoli tops as the second course. “It’s a jaw-dropping, amazingly-affordable, two course meal.”

For dessert, Gignilliat swears by her homemade version of soft caramel spread, dulce de leche, when she’s tight on funds. She removes the label from a can of sweetened condensed milk and places it in boiling water for two to three hours, replacing the water as it boils off. “You get the most delicious, authentic dulce de leche,” she says.

Not only does Gigniliat give this, placed in a mason jar with ribbon, as a hostess gift, she also tosses the warmed spread with sliced apples, pears, and cranberries, then tops it with crushed amaretti cookies for a beautiful, super-cheap finale to holiday meals.

Set the Stage

It may seem like a challenge to fancify your home or apartment without investing a hundo for that Christmas tree you’ve been eyeing.

“There are so many ways to create décor drama with things you probably already have around the house,” promises Weir.

One of her favorite table toppers is actually a collection of all the candles she has at home. She places them in a cluster at the center of the serving table with the largest ones at the center, then lights them when it’s time to eat. “I also up the ‘wow’ factor by placing additional candles in unexpected places like the bathroom and the hallway.”

Both Weir and Gignilliat eschew flowers immediately when looking to save. “Flowers are expensive and only last a few days,” says Weir. “I forage instead. You can find amazing things in your backyard or on your block if you just look. I use bowls of persimmons or pomegranates as accents throughout the house, and fallen branches make for wonderful table runners.”

Get the Party Started

Gignilliat pulls out games to make for epic events. She’s had the most success with these:

Place a question under everyone’s plate that they have to answer at the end of the meal. Questions can range from the light-hearted (What’s your feeling on double dipping?) to the serious (What was the toughest thing you went through over the past year?).

Ask guests to write down the first two sentences of their autobiography and place it in a bowl in the center of the table. Read sentences periodically throughout dinner and have guests guess who wrote what.

Place the names of famous individuals on sticky labels and put one on each guest’s forehead. Ask people to walk around the party and ask yes-or-no questions of fellow guests to determine who they are.

“These activities get everyone laughing, crying and don’t cost a thing,” said Gignilliat. “After over thirteen years in this industry, I’ve realized fancy food items and expensive entertainment aren’t what make a party work. It’s these fun experiences that bring everyone together.”

Just because the economy is tanking, doesn’t mean the party is over. Entertaining at home is less expensive than you might think. These simple money saving tips will help you throw a great party for less than you’d spend on a big night on the town.

1. Go casual. If you think you need Champagne and caviar to have a good time, think again. A less formal affair encourages your guests to relax and have fun. It’s the difference between a Superbowl party and New Year’s Eve. Forget sit down affairs, go for finger food and wine. Decide on the budget you feel comfortable with and plan accordingly. Evite’s party budget estimator is a great way to figure out where and how to spend your money wisely.

2. Pick the right wines. Skip expensive cocktails and serve a choice of approachable and affordable red and white wines that will go with almost anything you serve. A Chardonnay that is mildly oaky will pair well with anything caramelized. “Toasted loves toasted,” says David Katz, Chef and Managing Partner of Pane Vino. Toasted bread, nuts or caramelized onions all make fine matches with a balanced Chardonnay. For a red wine, Katz recommends choosing something medium weight like Pinot Noir. Mirassou Chardonnay and Pinot Noir fit the bill nicely and are around $10 each. Other food friendly and budget friendly choices include a crisp Rosé or a sparkling Spanish Cava.

3. Know when to splurge and when to save. Some ingredients are worth the extra cash. Katz recommends saving when it comes to blue cheese with a domestic supermarket brand, but splurging on sliced to order imported prosciutto. Buying from a deli means you’ll end up with thinner slices and save in the long run. Wrap slices of prosciutto around Italian bread sticks for a quick and savory bite.

4. Prep in advance. Many great appetizers can be made in advance. Blue cheese mousse can be made days ahead then piped or spooned onto vegetables before the party starts. Meatballs made from any inexpensive ground meat or turkey found on sale can be made then frozen and reheated. Spiced toasted nuts can also be made hours before your guests arrive. End your party with a selection of homemade cookies and brownies, ice cream optional.

5. Get friends involved. Have a friend who knows something about wine? Ask them to bring a few of their favorite house reds. Is one of your pals a great cook? Get them to make an appetizer or dessert. Encouraging your friends to help out gives them a chance to take a more active role in the party, takes the pressure off of you as host and helps spread the financial burden more equitably as well.

Most importantly, make your party easy and relaxed. Stuffy parties that break the bank are no fun. Chances are, if you’re having a good time, your guests will too!

Amy Sherman is a San Francisco–based writer, recipe developer, and restaurant reviewer. Visit her blog at Cooking with Amy

Most Americans have debt.  Mortgages aside,  43% of US households spend more than they earn in a year.  It is no wonder that the median household has a balance of over $2,000 on their credit cards.  The average balance is over $8,000, but that is skewed by a small number of less-than-thrifty individuals.

The US government also spends more than it earns.  Whether this is an extension of its electorate or the setting of a bad example, the country as a whole is in worse shape than the sum of its parts.

We could go on about the trillions of dollars in debt, but numbers that large can feel really abstract. So,  let’s take the nation’s spending down to the household scale.  The median household pulls in $50,233 per year, the federal government around $3 trillion.  Some basic arithmetic will put them in scale.

Now let’s look at our lenders.  The majority of the Uncle Sam household debt is owed to the people of the United States.  We can let this slide for now and focus on the foreign lenders, who represent one quarter of the total debt.

Below are the top seven foreign lenders, visualized as credit cards, while the image at the top shows the total of  foreign lending.  All numbers have been brought down to the U.S. median household scale.  Just imagine your household with these balances and you will have a better perspective on just how large these debts really are.

Catherine from Frugal Homemaker Plus is a homemaker and freelance writer with a mortgage and a few student loans she’d like to retire by 2012. This post describes how she practices frugality, and exemplifies one of our core philosophies here at Mint.com: spend less than you earn.

Taking a lunch to work does take a little time, but the savings are astronomical over time. For people trying to cut costs, save money for a larger goal, or reduce debt, packing a lunch is an easy way to cut costs and improve your bottom line. But I’ve heard a good number of people claim that this was something they just couldn’t do, for a variety of reasons.

Here are some of the common things I hear when people say that they can’t possibly pack a lunch:

Excuse: I don’t have time in the mornings!

Neither do I. I would never pack a lunch if I had to do it in the morning. I pack my lunch in the evenings, when we’re cleaning up after dinner. Since my husband and I almost always pack dinner leftovers for our lunch the following day, we simply prepare individual servings as we’re cleaning up the kitchen. I keep around quick-to-grab stuff (bought on super sale, of course!). We often take fruit snacks, dried fruit, crackers, yogurt, cheese sticks, real fruit, and cut up veggies as sides. For drinks, we settle for water from the office cooler. But if instead you prefer soda or juice, then pick it up from the store where it’s cheaper to get than from the office vending machine.

Excuse: My workplace does not have a microwave or fridge.

You can always take wonderful meals to work! Sandwiches are quick and easy. If you hate soggy sandwiches, then pack each individual ingredient separately and assemble your meal at lunch time. Not only are salads healthy but they are also convenient and do not require microwaving. Cold soups also make for refreshing lunchtime treats. My favorite quiche tastes wonderful at room temperature.

What about those cold packs you stick in the freezer to cool your lunch? Well, you don’t even need those. A reusable water bottle filled most of the way up and kept frozen makes a good ice pack, and as a bonus, turns into cold water to drink with your lunch. I’ve heard of people doing this with juice boxes as well.

Excuse: My job requires me to drive and I’d rather not eat in the car.

I’ve been there. I once had a job as a maid for a cleaning service. We cleaned several homes during the day, and our company policy did not include a “lunch break” in the traditional sense. My employers considered the time we spent driving between houses as our break, so I had to pack something that would survive in a hot car that I could eat while driving. We weren’t even permitted to get a drink of water while at a client’s house, so I would leave my house every day with the following: several large bottles of water, most of which were still frozen from the freezer; an igloo cooler type lunch box, and assorted food items cut into bite sized pieces. The frozen water would preserve my lunch and would quench my thirst throughout the day. I would make and cut PBJ sandwiches into four triangles, cut apples into bite sized pieces, cut up cubes of cheese – these were all easy to eat while driving and were easy to snack off throughout the day. Most of my coworkers did not bring lunch so we’d pop in at a drive through, or stop briefly at a gas station. My lunch was much cheaper and healthier than theirs, for sure!

In grad school, I had a microwave but often had a schedule that did not allow for a leisurely lunch. One semester I had to eat while walking between classes — not fun! Again, the solution was to opt for food in bite-sized pieces and ready-to-sip cups of soup.

Excuse: I have to eat lunch out everyday because I need to network and get ahead with my career!

I had a roommate who did this and was slowly going broke, so as a solution, he’s decided only to lunch out on Wednesdays. He and several of his work friends call it the Wednesday Lunch Club and take turns trying to find an interesting hole in the wall restaurant to dine at. This was an interesting compromise! I’d also suggest bringing in some healthy snacks to eat throughout the day, so that when it’s time to go out and network, you can settle for a more affordable and lighter lunch, such as a soup or salad.

Excuse: I just don’t like packing lunches.

There are days when I don’t like to pack a lunch either. When this happens, I pull out a trusty frozen meal, like Lean Cuisine or Healthy Choice frozen meals. This was something I didn’t do in the past because the meals were expensive and I try to avoid processed food. However, I came to realize that this was a much easier, cheaper, and healthier option than ordering a Value Meal at a fast food joint. If you watch out for coupons and sales, you can get these frozen meals for about a dollar each.

Packing a lunch does not have to be inconvenient or costly. It may take a bit of preparation at first, but you’ll soon get the hang of it! And the savings will almost certainly be worth it!

We decided to run some numbers to quantify these potential savings…and we came up with a big number: $1,000 to $1,500 per year. Surprised? What do you save by brown bagging it? What other tips would you like to share on how to save in the workplace?