Find That Special Someone… Without Cheating On Your Budget.

When trying to meet someone special, most people gravitate towards the places where they know they can meet other singles: bars and clubs. In fact, When Bostonians were asked in a CityVoter poll: “where is the best place to meet other single people in Boston?” 75% of respondents answered with a bar or restaurant. While these spots are usually populated with other people, they can end up being prohibitively expensive options (a couple of $12 mojitos in, and your “socializing” budget is blown for the month!). Fortunately, there are plenty of other places to meet people that won’t cost you an arm and a leg… and may even bring you to your financial soul mate.

Please enjoy these 10 suggestions on creative and cheap ways to meet someone special, and begin your own financial romance. I hope to hear your own tips! Please leave your comment son the blog, or tweet them to me at @LantrnFinancial. Enjoy!

1.Get Physical

Playing a sport is a great way to get exercise and bond with new people who have common interests. Additionally, all of those chemicals that your body is producing during exercise (endorphins, adrenaline and serotonin) are also released when two people are attracted to each other and falling in love, so it’s kind of like a head start! And the best part about meeting someone this way? It is cheap to join an intramural sports team!

Check out the Boston Ski and Sports Club (www.bssc.com) to see all of the different intramural sports teams that are available. They offer everything from Soccer to Hiking to Golf. They also have plenty of social events, like cruises and rooftop mixers. And for an even better deal, enter our contest at www.lantern-financial.com to win a One Year Membership to the BSSC, for free!

If you enjoy running, try a club such as Community Running that welcomes all ages and abilities! The cost is $10 a month and includes coaching! (www.communityrunning.org ).

Of if you are trying to expand your horizons, stretch out with free Yoga offered for free every Wednesday morning through August at the Rose Kennedy Greenway in the North End (http://www.trumba.com/eventscalendar/ma/boston/rose/fitzgerald/kennedy/greenway/conservancy/boston/parks/big/dig/central/draft-calendar).


2.Take a Class

Boston offers a wide array of fun, skill-building classes that can lead your life in a new direction, many at little or no cost.

MIT offers free beginner Salsa lessons on Mondays (http://web.mit.edu/salsaclub/www/). A friend of mine had success with this tip: she has already been on two dates with her dance partner!

Take a climbing class at MetroRock in Everett (www.metrorock.com ). Don’t worry, it’s easy to get to off the Orange Line and they offer a free shuttle to pick you up. If you want a day of climbing for 50% off the normal price, contact us at info@lantern-financial.com to join the Lantern Team for a day! (Date TBA… some time in August.)

Feel like cooking up something spicy in your romantic life? Try a cooking class from Boston Center for Adult Education www.bcae.org that teaches you to stretch $40 into a week’s worth of healthy meals. This class is a bit more expensive but you will be learning something cool, opening the floor to interesting conversation, and meeting someone with similar interests. Some places like the BCAE even have singles nights, where classes are geared specifically towards helping singles meet each other.

3.Go to a Museum

It may sound geeky (it is) but a museum is a perfect place to strike up a thoughtful conversation. It also provides for an easy fix for awkwardness. At a bar, any moment of silence is awkward, but at a museum, silence is pensive, mysterious, even sexy!

The Museum of Fine Arts offers free general admission museum nights on Wednesdays 4:00 -9:45 P.M.

If you want a little extra romance for $12, (think ivy in a nighttime open courtyard) the Isabella Stewart Gardner Museum on the Fenway combines art with live music every third Thursday from now until September. (http://www.gardnermuseum.org/afterhours/afterhours.asp ) Admission for college students is $5.00 with I.D. Check the website for additional admission deals if you are a Red Sox fan!

4.Join a religious group

As with all of these suggestions, in order to meet that special someone, you will have the most luck if you are doing something that is fun and important to you. This is especially true for this tip. If expressing your faith is important to you, or you are seeking to explore faith, this may be a perfect opportunity to do so, and meet someone else special that is doing the same thing. There are study groups, prayer sessions, and even outings and field trips! A Google or Yellow Pages search will provide you with plenty of options within many faiths. And of course, it’s free! Ever heard of a Bible Study cover charge?

5.Go Outside and Hang Out in a Park

So far this “summer”, being outdoors has not been an option in Boston, but we are keeping our fingers crossed. Especially because when the weather gets nice, our beautiful parks fill with people! And my favorite part about hanging out in the park, of course, is that it is absolutely free.

Besides the Common and the Public Garden, check out the Charles River Esplanade, The Arnold Arboretum in JP, The grassy quad on MIT’s campus, The Kennedy Greenway in the North End or the Evans Way Park on the Fenway. Strike up a conversation with someone else enjoying the sun, bring a Frisbee and find a partner, or bring a pet along: it’ll be a great conversation starter.

If you’re looking for the Backyard BBQ feel that is hard to find in the city, you’re in luck. Every Friday through Aug. 21, backyard games like badminton, bocci and tether ball are on the Rose Kennedy Greenway from 12:00PM – 2:00PM.

6.Don’t Give Up on Online Dating

Of course the popular dating sites like www.eHarmony.com get a lot of attention and can be very successful, but it may cost $40 to send an email! However there are cheaper online alternatives to internet dating, ones that don’t require any fees at all.

An example is www.Meetup.com, which is an event site where people post things that they are doing around the city. Dodgeball, Ultimate Frisbee and Guitar Hero are a few examples of Meetups in the Boston area. A member of the Dodgeball Meetup said, “It was a wonderful way to meet new people!” Reach out through one of these websites to find people who like doing the same sorts of things that you do, and then meet in a neutral location, or with a group.

Twitter (www.Twitter.com) could also be a useful tool to help you meet someone special. Tweetups (a Twitter Meetup) are fun gatherings with lots of local adults. (As always, remember to be smart and safe about online dating, and connect with people in neutral locations.)

7.Volunteer

Volunteering is free, fun and it feels good. You give back to the community, usually in ways that are enriching and enjoyable. And you often meet other people who care about the same things as you. It is also a great way to find people who are generous, responsible and thoughtful… a recipe for a great romantic partner.

Here are a few places to volunteer to get you started:
a. Boys and Girls Clubs of America, (http://www.bgca.org),
b. Big Brothers and Big Sisters of Massachusetts Bay (http://www.bbbsmb.org),
c. The Women’s Lunchplace(www.womenslunchplace.org),
d. Boston Cares (www.bostoncares.com),
e. Young Alumni Volunteering Association, or YAVA, great for recent college graduates (www.yava.com),
f. or Habitat for Humanity (www.habitat.org).

8. Wine and Cheese Tastings

Many wine stores offer free wine tastings throughout the week in order to showcase their products to their customers. Some times they even set out appetizers. These types of events are perfect for meeting people because they already have a date feel, but they are completely free.

On Tuesdays, Best Cellars on Boylston Street offers free tastings from 5:00PM – 8:00PM. Not into wine? Boston also does beer tastings. Check out Wine Gallery on Boylston Street in Brookline from 5:00PM – 7:00PM on Thursday nights for a free tasting.

Looking for something a little more upscale to end the work day? Looking to meet someone in a suit? Vinalia in the Financial District has free wine and cheese tasting at 6pm every Wednesday! (http://www.vinaliaboston.com/calendar.asp?month=8&year=2009)


9.Participate in Local Events

There is always a lot going on in Boston, especially during the summer. This time of year is all about enjoying entertainment, food, and beautiful weather (even though we haven’t yet arrived this year) for very reasonable prices.

Consider the free Boston POPs concert at the Hatch Shell (July 3rd) (http://www.searchboston.com/happenings.html), the Cultural Survival Bazaar (http://www.culturalsurvival.org/) on July 11th or many of the restaurants that offer deals to both ladies and gents throughout the week. For example, Match on Newbury Street has Ladies’ Night on Thursdays ($5 entrees for women) and will soon be announcing a Gentleman’s night (www.matchbackbay.com) . With all these great opportunities, saving money and meeting new people who are doing the same is a recipe for romance!

Read the Improper Bostonian and Stuff and Night to find out what else is happening that is cheap and attracting other people in the same mind set. To make it even easier to find all of the great goings on in Boston, follow us on Twitter as we announce these steals @LantrnFinancial.

10.Throw a Singles Party

At Lantern Financial, we are big believers in “Do It Yourself” to save money. Instead of going out, stay in and invite the singles to you! By creating an MeetUp.com group, a Facebook event page, and inviting all of your single friends and having them do the same, you can create a gathering of fun, interesting people, all looking for romance.

Host a potluck to save money- your guests will be happy to participate in making the party a success and showing off their cooking or baking skills. And read our blog from April, “Party Planning on a Budget”( http://lantern-financial.blogspot.com/2009/04/party-planning-on-budget.html) , for inspiration on how to make your bash a smash!



At Lantern Financial we believe that romance and finance go hand in hand. I hope that these tips will help you find your own financial romance! This list is just the beginning, and I look forward to hearing your own ideas on meeting someone special and maintaining your relationship with your budget, either on this blog or on Twitter (again, @LantrnFinancial). Thanks for reading! Click here to read more!

Days and Nights of Summer

Picnics on the Esplanade by day...

Trivia at local hot spots by night...

And many more fun, free and affordable things to do in Boston this summer!!

It is June and summertime is here! Those of us who live in the bean, and those who love to visit, know that Boston summers are bursting with fun things to do! Fortunately for us, there are also lots of FREE and affordable fun things to do! To help you plan your summer full of fun and budget- friendly activities, I have compiled a list of a few local happenings going on throughout the summer.

MONDAY:

1. Johnny D’s of Davis Square in Somerville has an especially fun Monday night. FREE pizza from 6:00PM – 8:30 PM precedes a lively night of trivia (team or individual). And if you miss the pizza but don’t want to buy restaurant priced food, don’t worry! You are invited to pack your own and bring it right in. (http://johnnydsuptown.com/ )

2. If you are a student and are looking to go out to eat, look no further than Fire and Ice in the Back Bay. The all you can eat, self-serve “improvisational grill” is just $9.95 per person! Just make sure you have your student ID. (http://www.fire-ice.com/locations/boston.html ) **And if you love Fire and Ice, check out our contest for June: we are giving away a $50 gift certificate to Fire and Ice!**

3. Students get all the good discounts, don’t they? Well never fear, because there are good deals for those of you in the work force too! Monday nights means FREE bowling and billiards at Kings in the Back Bay. It is “Industry Night”, so just bring a business card, or a stub from your hotel to play for free! (http://www.backbaykings.com/kings/events.php) They have other fun events going on all week, so make sure to check out the whole list.

TUESDAY:

1. Looking for some classy entertainment? Nothing says sophistication like a wine tasting, and Best Cellars on Boylston street offers them FREE from 5:00PM – 8:00PM. Keep in mind though, that you will probably find something you love and want to buy it. Discovery is the whole point of a wine tasting, just remember your budget. It may be wise to commit to not spending over a certain amount before even walking into the store. (http://www.bestcellars.com/)

2. You haven’t really experienced a Boston summer unless you’ve hung out at an Irish Pub. Crossroads on Beacon Street offers free Dart Nights on Tuesdays starting a 8:30PM, so get on your best fake Irish brogue, drink a Guinness, and throw some stuff at other stuff for FREE! (http://crossroadspubboston.com/ )

3. This last Tuesday recommendation is neither free, nor every Tuesday of the summer, but it is a great, affordable event that happens to fall on a Tuesday! The 27^th annual Scooper Bowl will take place on June 9^th (through 11^th) from noon until 8:00PM. It is only $8 for adults, $4 for kids 9 and under, and free for kids under 3, to eat all of the ice cream you can handle. The best part, of course, is that all of the proceeds go to benefit the Jimmy Fund. (http://jimmyfund.org/eve/event/scooper-bowl/default.html)

WEDNESDAY:

1. Beginning in July, the Landmark Orchestra offers FREE concerts at the Hatch Shell on the Esplanade beginning at 7:00PM. So pack up a picnic, a blanket, feel the breeze off the Charles River and enjoy the sounds of Tchaikovsky and Brahms. All you have you pay… is your attention. (http://www.bostonfamilylife.com/2009/05/boston-landmarks-orchestra-free-summer.html)

2. When the music is ending, the stars will be coming out. To get a better look, head over to Boston University to check out the Coit Observatory. They offer FREE stargazing after 8:30PM on Wednesdays throughout the spring and summer, as long as the skies are clear. (http://www.bu.edu/dbin/astronomy/?q=AS_open)

3. Didn’t make it to trivia on Monday? Well McGreevy’s Sports Bar on Boylston Street is there for you, just so long as the Red Sox are out of town. On away nights, McGreevy’s offers FREE trivia from 7:00PM – 9:00pm, and $3 drafts for participants, as well as the chance to win lots of great prizes and giveaways. (http://www.mcgreevysboston.com/default.htm)

THURSDAY:

1. Normally entrance into the Institute of Contemporary Art runs a person $15 for general admission. Not on Thursday nights! Between 5:00PM and 9:00PM general admission is absolutely free! (http://www.icaboston.org/visit/hours-and-admission/)

2. Wine tasting isn’t just for wine anymore. If you’re more of a beer person (like I am) head over to the beer tasting at the Wine Gallery on Boylston Street in Brookline from 5:00PM – 7:00PM on Thursday nights. It’s FREE, and you just may discover a new brew that you love without hurting your wallet. (http://www.wine-gallery.com/)

3. Wall sconces, huge wine racks, a contemporary twist on medieval décor… and $1 tacos. This tasty and affordable offering seems totally out of place at Bonfire, a Todd English Steakhouse in Park Plaza, but who’s complaining? (http://www.bostonchefs.com/news/2009/5/29/bonfires-1-taco-thursdays/)

FRIDAY:

1. The end of the work week has arrived! This is the moment to treat yourself to something entertaining, and the movie theatre is a classic location. But there is a reason that American Cinema is a billion dollar industry – movie tickets are expensive! This summer, check out recently released movies for FREE outdoors at the Hatch Shell with Boston’s 24^th annual Free Friday Flicks. There are also giveaways, food samples, and more. (http://www.wbz.com/Free-Friday-Flicks-2009/4419168)

2. Now that it is warm out, pledge to do something great for the environment, your health and your budget! Instead of driving or taking the T, start biking to work on Fridays! You also get a free breakfast at government center, a police escort for your convoy, and the chance to be part of a life WZLX radio broadcast. (http://bikefridays.kintera.org/faf/home/default.asp?ievent=301166)

3. The last tip for Friday is not free, but it is a good deal. Havana Club in Central Square offers a $12 deal which includes cover charge, coat check and a salsa lesson! Not bad for a Friday night! (www.havanaclubsalsa.com)

Then of course there are wonderful things to do around Boston that are FREE EVERY DAY OF THE WEEK!

1. Have a picnic in any of our beautiful parks. If you’ve already spent plenty of time in the most famous ones, the Boston Common and the Public Garden, check out some of the other lesser known spots, like the Rose Fitzgerald Kennedy Greenway, which is the park between Haymarket and The North End, or the Arnold Arboretum in Jamaica Plain.

2. Head over to the USS Constitution – a floating museum and a retired US Navy Ship. It’s FREE to the public every day during the summer!

3. Instead of paying to get into a museum, check out the Boston Public library, or go into any of the many art galleries along Newbury Street.

4. Tour of the Sam Adams brew house. FREE or by donation entrance, and free beer samples with a glass to keep!

These are just a few of the wonderful things to do around Boston, and I would love to hear what free things you do on your summer nights! I look forward to hearing from you! Please comment and share your own tips here!

Click here to read more!

Party Planning on a Budget

As we head into the spring, some inevitable things are happening. Recession or no recession, all of your friends and family are getting married, having babies, and celebrating important birthdays. Must the difficult economy mean that we need to scale back and no longer recognize these important occasions in the lives of our loved ones? No! It might just take some real creativity to plan these showers and birthday parties for next to nothing. It is a great time in history to remember that important occasions do deserve celebrations, but that love matters more than how much you can afford to spend on these parties.

I am excited to share with you some ideas to make these parties fun, memorable and very inexpensive!

1. Set a budget

It might seem like an obvious recommendation, especially for an article titled, "Party Planning on a Budget," but I think it bears recommending. So many people start out the party planning and get so excited about their ideas that they forget this important first step. Figure out the total amount you (and any co-hosts) are willing to spend on the affair, make a list of items and allocate the money accordingly, and then stick to it! Even if the total amount seems small, don't worry. You can make it work! These tips are designed to help you plan a party within any budget.

2. Location, location, location...

The location of your party will make a HUGE difference in the final cost of the event and there are lots of options for free or extremely low cost venues that you could use. There is no reason to rent a hotel banquet room, hall, or club space. An obvious option would be a home of a friend or family member of the guest of honor that is large enough to hold your guests. This would be free! If the party is during the summer, or even during much of the spring or fall, you could host it in someone's yard or at a local park or beach that has a covered space. Many such spaces are either very low cost or free (sometimes you just need to secure a permit from the town for a few dollars to use the space). I recently heard of a great idea along these lines. Many towns or counties have rental space that is free or low cost for use by residents. These spaces might be in a historic town hall, a public library, a community farm, or a museum managed by the town. Your local taxes are already going to maintain such locations, so it is worth a phone call to your town offices to find out if they are available to you. Many such places are historic, and may be just as beautiful as a place you could spend thousands of dollars to rent! Another idea worth considering would be conference space within the office building where you work. This type of room would not always be available for non-work-related functions, but you will never know if you don't ask.

3. Consider trimming the guest list?

This is a tricky tip that will not work for all parties, especially when you are planning them in conjunction with another event (i.e. a wedding shower preceding a wedding, etc.) However, if the party is a shower, consider whether the guest of honor will receive more than one shower. Is it possible for you to concentrate on only one segment of the guest of honor's circle of friends and family? Examples would be throwing a shower for only the family, only the friends, only the friends from college, only the friends from work, etc. If the party is not a surprise, you could let the guest of honor know that you would love to throw them a shower including that specific group. If it is a surprise, you could contact the guest of honor's parents or siblings to let them know your intentions. This way, if someone else would like to throw a shower for other people loved by the guest of honor, they will have plenty of time to plan such a party.

While it would usually be great to invite everyone that the guest of honor knows to your party, each individual increases the overall costs of the party. Food, favors, chairs, etc all must be multiplied by the total number of people. While you might decide to not scrimp in this area, trimming the guest list will be worth your consideration before you get too far into planning the party since it will make such a big difference in your costs at the end.

4. Beg, borrow and steal

What do you need to pull off a successful party? A few items that come to mind right-off-the-bat are: chairs, serving pieces, pots, pans and cookie sheets, tables, table cloths, hot plates, etc. It would be really expensive for you to go try to buy or rent any of the items that you don't already own. Spend some time thinking about the people in your circle of family and friends (especially those who know the guest of honor) who might own or have access to these items and might be willing to lend them to you for the occasion. A wonderful source for these types of items would be your church or community center. If you are a member, they might be willing to lend you whatever you need (as long as you return it in great condition!).

I should point out that the emphasis in this tip is on the "beg and borrow" and not so much on the "steal"!

5. Collaborative efforts

Don't feel like you must plan the party all by yourself. A great way to lower your costs is to involve several co-hosts and spread the costs of the party among you. A great benefit of this idea is also that many brains will be available for brainstorming when it comes to figuring out creative solutions in order to save money. Be careful, however, since this can backfire. With so many excited hosts involved, it can be easy to ignore any budgetary constraints. The best way to avoid this awkward situation is to have a reasonable budget already determined before you invite co-hosts to join you in planning the party. This way, you can present the costs up-front to your potential co-hosts before they commit to getting involved, and everyone will be more likely to stick to the budget.

6. Do it yourself

I don't mean that you should literally do it all by yourself. Instead, I mean that you should consider the skills, talents, and potential of you and your co-hosts before automatically deciding that you need to spend extra money and purchase professionally made items to plan a successful party. You may find that invitations, food, decorations, and favors can be inexpensive and simple to make yourself, as opposed to purchasing expensive versions made by someone else. Also, these can be fun projects for you and your co-hosts as you prepare for your party, and best of all - they are a fun way to add a very personal touch that your guest of honor is sure to appreciate!

7. Think within your budget

This is an important way to actually stick to the budget that you set at the beginning of your party planning project. A lot of people will choose an overall budget number for the party, but then forget to break down the number so that they actually know how much to spend in each area. Without a detailed plan, you will most certainly overspend. So, remember, when you decide how much you can spend in total for the party, make a list of all of the areas in which you plan to spend money. Allocate your total number among the areas. You should consider distributing the budget based upon the likely costs of each item, rather than an equal division of the money among the categories. For example, even if you make all the food yourself, purchasing the ingredients can get expensive. Therefore, you may want the "food" portion of the budget to be a larger percentage than, perhaps, the invitations.

8. Evite

Speaking of invitations, technology has improved quite a bit over the last few years and you may not be aware of the cost-saving opportunities that are available to you when it comes to inviting guests to your event. One of the most popular websites for inviting guests to events is called Evite. It is a wonderful, free way to send and manage electronic invitations to your party. This is perfect for you, especially if your crowd is on the younger side and very comfortable using e-mail. In order to successfully use Evite, you must know all of your guests' e-mail addresses. You then go to the website, create a free account, choose an invitation template, type in your event information, and enter in your guests' names and e-mail addresses and the website will send electronic invitations to everyone on your list. Guests can even RSVP to you directly on the site.

It may be innappropriate to use Evite if you have an older crowd or if the event is particularly formal, but many events would be perfect for an Evite versus a paper invitation. With the costs of stamps going up all the time (and again in May, 2009!) as well as the costs of paper to make the invitations, you may find Evite to be very attractive.

9. Choose an "off" hour

As I mentioned above, food (and alcohol) is often the most expensive part of a party. Just looking at the costs related to the food can make you rethink your intentions of hosting the party in the first place. There is an easy solution to this problem that can help lower your overall costs significantly. You should plan the party to begin during a time of day that is not considered a "meal" time. Generally, if a guest is invited to a party during the traditional time associated with breakfast, brunch, lunch, or dinner, they will expect to be fed a meal at the party. Breakfast would normally be 7:00am to 10:00am, brunch would be 10:00am to 1:00pm (during the weekend, only), lunch would be 11:30am to 1:30pm and dinner would be 5:00pm to 8:00pm. A guest invited to a party outside of these time frames would normally only expect a light snack. With this in mind, a great time for your party would be 2:00pm or 3:00pm in the afternoon (either Saturday or Sunday), or after 8:00pm at night (Friday or Saturday). Most guests would expect snacks and alcohol at the later evening party times, but mid-afternoon parties would be perfectly appropriate with coffee, tea, sodas and snacks. You can save significant money on food with this strategy, and the party will still be lots of fun.

10. Pick a fun theme that helps your bottom line

Finally, a fun tip to help you stick to the budget would be to choose a theme for your party that is budget friendly. The theme you choose should be one that can be inexpensive in every way - from decorations to food, to alcohol, to invitations - but can still be lots of fun! Don't forget to shop for decor everywhere from the dollar store to your own basement. A few simple ideas would be:

a) Backyard garden tea party
b) Mexican fiesta
c) Christmas in July (pull out your Christmas decorations for the occasion)
d) The Guest-of-honor's favorite color (decorate everything in the color and make all the food in that color as well)
e) BBQ beach party

This list is just to get you started brainstorming. There are so many ways to make your party fun, memorable, creative and budget friendly! Please comment and share your own tips here. Click here to read more!

Tips on Dating Less Expensively!

I wrote about this last year at this time, but thought that with the tough economy, this post is perhaps even more applicable now than it was then. Enjoy!

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Now that Valentine's Day is behind us once again, I have been reflecting on the effect that it often has on us. Have you ever noticed that Valentine's Day has the ability to make people really belligerent? It doesn't matter whether someone is a first date expert or whether they have been coupled for a long time - Valentine's Day can bring out some strong, often negative opinions! While it's obvious to more than just the cynical among us that this "holiday" was created to manipulate money from our pockets, it is still hard to avoid the romantic expectations of the day. Now, I'm as romantic as the next person, and I don't think that anyone is advocating throwing away romance all-together, but I do think that most people resent being told that they have to spend all sorts of money to be considered romantic. There are plenty of people who boycott Valentine's Day, and not necessarily because they can't stand public displays of affection, but because they don't equate hyper-consumerism with romance!

Each year, on Valentine's Day, you have three choices, as I see it. You can avoid the day all-together; you can call around frantically and try to snag a reservation at a fancy, run-of-the-mill, EXPENSIVE restaurant, or you can get a little creative. You can celebrate true romance without hurting your budget or de-railing your long term goals. We need to get past the thinking that money equals love. That is a dangerous mindset, and furthermore, it is simply not true!

However, as we all know, it can be difficult to get creative in Boston, since it is such an expensive city. Especially in the winter time, when it is more difficult to find free or inexpensive, outdoor events, it's tempting to decide to take a break from dating and romance until the spring. I argue that there are plenty of creative solutions to this problem so that you can go on fun, romantic dates all year long and not worry too much about your budget. We all deserve a chance to participate in the cheesiest day of the year without emptying our bank accounts, or (worse) maxing out our credit cards!

I've compiled several great ideas for fun, romantic, creative and low-cost ways to enjoy each other and our great city this winter! Who needs Valentine's Day when you can be a cheap date all season long! (I have tried to include approximate prices and hours where applicable, but please visit the website or call in order to verify the accuracy before you head out on your date!)

1. Ice Skate and Cuddle over some Hot Chocolate

There are several wonderful options in the area for ice skating. You could go the more well-known, traditional route and go skating at the Frog Pond on Boston Common (which is a lot of fun!), but there are a couple of other great rinks in the area worth considering. The Charles Hotel in Harvard Square has a small rink outside its front doors. The best part about ice skating in Harvard Square is that you could head around the corner to L.A. Burdick's cafe afterwards for their highly acclaimed hot chocolate! Additionally, Kendall Square has a community skating rink. Whichever one you choose, be sure to bundle up - you are sure to have a good time with your date!

Frog Pond Skating, Boston Common - open Thursday 10am - 9pm (Admission $4pp, Skate Rental $8pp and Locker Rental $1)
Charles Hotel Ice Skating, Harvard Square - open Thursday 2pm - 8pm (Skates $5, Skating Fee $5)
L.A. Burdick's Harvard Square Cafe, 52D Brattle Street, Cambridge - Thursdays 8am - 9pm
Kendal Square Community Skating, 300 Athenaeum St., Cambridge - open Valentine's Day 12noon - 10pm (Admission $4pp, Skate Rental $5pp and Locker Rental $1)

2. Borrow a classic movie from the library and make your favorite meal together

Sometimes, there is nothing more romantic than a relaxing night at home together. First, be sure to shut off both cell phones, turn off the computers and make a promise to pay attention exclusively to each other for the evening. Decide on your favorite meal and then go shopping together to get the ingredients. Go back home and prepare it together. Light a couple of candles and enjoy your masterpiece! Then, snuggle up on the sofa and enjoy a classic romantic movie together. If you enjoy books more than movies, this idea would be equally romantic with a classic novel or book of poetry.

3. Go Roller Skating!

Travel back together to the time when there was nothing greater than taking a turn around the roller rink holding the hand of your crush! Enjoy some great music and a break at the snack bar together. You can show each other all your roller skating moves from back in the day!

Chez Vous Roller Skating Rink, 11 Rhoades St. Dorchester, MA 02124 phone 617.825.6877 ($4 cheap skate on Thursdays includes skate rental)
Roller World, 425R Broadway, Saugus, MA 01906 781-231-1111 ($6 on Thursdays 3:00-5:30 - unclear whether skate rental is included)

4. Visit a Museum Together

It is a little known fact that there are some easy ways to visit some of our local cultural institutions for free. Spend an evening enjoying some local art, scientific exhibits, or checking out some marine wildlife (penguins are very romantic creatures, after all, as we learned in March of the Penguins). Showing off your cultural side could be very attractive to your date!

Some tips:
Most local public libraries allow you to borrow passes to the MFA, Science Museum or Aquarium for free! I recommend calling your library as available passes will vary by location.
The Institute for Contemporary Art (ICA) is FREE for all from 5 to 9 pm every Thursday for Target Free Thursday Nights

5. Play with the animals at the MSPCA

If you and your date are animal lovers (it probably helps to ask them first before planning this one!), I can recommend a great activity for you. The MSPCA-Angell Animal Care and Adoption Center is a wonderful facility full of dogs and cats that would love to play with you! This is especially a great activity if you both live in small apartment(s) in the city and can't have pets of your own. During adoption hours, you can usually just walk right in and visit all the animals. What a fun way to give love this winter!

MSPCA Animal Care and Adoption Center, 350 South Huntington Avenue, Boston, MA 02130 (617) 522-5055 mspca.convio.net (Thursdays, Open 2pm - 7pm)

6. Go on a photo scavenger hunt downtown together

When you meet up after work, separately create lists for each other of funny/cheesy things that you and your date must capture with your cameras. Spend the evening combing the city together and taking turns finding items on each of your lists until you have completed both lists. Celebrate your accomplishments by taking the cameras back home, printing off the photos and creating an album of your memories over an inexpensive bottle of wine.

7. Tour Fenway Park

You have probably both been to Fenway Park many times to enjoy a game, perhaps you have even been together, but have either of you been "behind the scenes" at Fenway? If the Red Sox are the First Love of either you or your date, or both of you, this would be a great way to spend a great date together! During the winter months, there is construction going on, so your tour will include the Press Box, State Street Pavilion Box, Red Sox Hall of Fame Plaques and the oldest seats in Major League History.

Info:
Tickets are $12pp. Hours are 9am - 3pm. Reservations are not accepted and walk-up sales are encouraged.

8. Enjoy a night at the theater!

There are inexpensive ways to enjoy more traditional dates in Boston. I have not found a better website than Goldstar.com for theater and event tickets. It is free to sign up for the website and each week, they will e-mail you the best deals around. Goldstar.com offers tickets to most of the local hot shows and events for half-price or less. I have not seen better prices anywhere, and for such a variety of events. I have not gotten around to ordering tickets from the site personally yet, but I hope to in the future. It's worth exploring, if you are interested in a date at the theater this winter!

www.goldstar.com

9. Surprise your Date and take them out to Lunch

You may have noticed that none of my recommendations include dining out at restaurants. The easiest way to avoid spending lots of money during your date is to eat at home before you meet and then spend your time together focusing on activities not related to food. However, if you and your date would really enjoy having a meal out together, there are ways to do so less expensively. My first recommendation would be to surprise your date at work and take them out to lunch. Most of the time, restaurant lunch menus offer very similar fare to their dinners for half the cost. Additionally, neither of you will be tempted to order multiple alcoholic drinks (which can get very expensive) if you are headed back to work after your date. Also, there is something very romantic about escaping from your busy workplaces to steal some alone time, especially if you don't often see each other during the day!

10. Go out to Dinner

I know, I know - I just finished saying that going out to dinner in Boston is the easiest way to spend lots of money during your date! However, there are a few creative ways to dine less expensively, even at dinner time. Also, I'm sure there are still a few of you who have gotten to the end of this list and feel that you can't escape taking your date out to a nice dinner, so this last item, #10, is for you! There are a few things that you can do. First, try to avoid stereotypical date nights (i.e. Valentine's Day, Fridays, Saturdays, etc). During the week, and during slightly earlier seatings, restaurants might be more willing to offer a flexible, or less expensive, menu. This is especially true this year, during the difficult economic situation. Secondly, you and your date can decide ahead of time to eat your meal at the restaurant and then you can have drinks and dessert at home afterward. A bottle of wine is much less expensive from the liquor store than from the restaurant. Finally, visit the website www.restaurant.com to purchase a discounted gift certificate to your favorite restaurant. The deals on the website are amazing. You can often get a $25 gift certificate for $10 or a $10 gift certificate for $3! Additionally, as a new customer to the site, you can usually find a coupon code online for half-off your first gift certificate. You can only use one certificate at a time, but the site is very convenient as you can pay online with a credit card and print the certificate off your printer before you head to the restaurant.

www.restaurant.com


With a little creativity, romance lives in Boston and it doesn't cost much at all!

Happy Winter! May the sun return soon!

I'm interested to hear your creative ideas for inexpensive dates in Boston, especially during the winter months. Please share your favorites!

(Here is a link to the original post: http://lantern-financial.blogspot.com/2008/02/be-cheap-date-this-valentines-day.html)

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Creative Holiday Gifts Even You Can Make!

Money is tighter than usual this year. We are all starting to feel the pinch. With the holidays right around the corner, it can be difficult to get in the spirit when all you can think about are the upcoming expenses you really can't afford!

The good news is that we are all in the same boat. Since money is more scarce than usual for everyone, we are all trying to find less expensive ways to have a happy holiday season. It's far less likely this year that anyone will scoff at you for getting more creative in your gift-giving (and who wants to give a gift to people who do that, anyway? Those people deserve coal in their stockings!)

I have assembled some fun, easy ideas for creative gifts that even you can make (yes, I'm talking to you - with the two left thumbs!). I have tried to include gifts that would suit a wide range of recipients and also that your whole family, from kids, to parents to grandparents can get involved in making.

My wish for you this year is that you let the financial crisis work for you rather than against you. Step back from our consumer culture for a month or two and look for ways to spend some quality time with your family and friends. That's really the best gift, after all, isn't it? What better way to spend time together than creating gifts for your loved ones, right?

Here are my ideas for you. Please share your own at the end. I would love to hear them!

Enjoy!

1. "Thank You" Frame

Perfect for: Mom, Wife, The Person Who Always Takes Great Care of You

This is a simple concept, and an easy gift to make, but it is one that will be treasured for years!

First, visit your local dollar or discount store and find an 8x10 frame. Go home and find a great, old photo of you and the recipient. Open Microsoft Word (or your favorite word processing program) and choose a nice looking, readable font. At the top of the page, in large letters, type "Thank you for..." Start a new paragraph. In smaller letters, start typing everything you can thank the recipient for, large and small, from as far back as you can remember through today. Feel free to include inside jokes and humorous memories as well. Once you start typing, you might find it difficult to keep it to just one page! When you have nearly filled the page with text, insert the photo you chose into a corner of the page. Make sure you adjust the photo and text each to a size that allows you to keep everything all on one page. When you feel that the page looks nice, set your printer settings to "best quality" and print your creation on a nice piece of paper. Pop the page into the frame you purchased earlier, and you have a gift that is sure to be treasured for a long time!

2. Hand-Stamped Stationary Set and "Letter of the Week" Club Membership

Perfect for: Mom, Grandparents, Your Friend Who Loves Writing Letters, Loved One Who Lives Far Away

This is a fun and easy gift idea that can be very personalized to the tastes of your recipient. However, you both will soon realize that the real gift is the peak into each other's busy lives that you will be sharing with each other!

To make the gift: First, go to your local craft store or online and choose a rubber stamp that reminds you of your recipient. Perhaps your loved one enjoys the ballet and so you choose a stamp with a picture of a ballerina. Maybe your recipient loves fishing and you find a great stamp with a picture of a fish. You could even find three stamps of the person's initials for creating a monogram. While picking out the stamp, choose a stamp pad in the recipient's favorite color.

Next, you need to decide if you want to buy a package of pre-cut and assembled blank cards from a craft store, or if you want to purchase some cardstock and try your hand at cutting, folding and assembling some cards and envelopes yourself. Once you have a few created (10-12 is a good number to aim for), begin stamping away! Use the stamp on the front of each card and a corner of each envelope so that it is clear they are a set. Once the stamps have dried on each piece, find a coordinating piece of ribbon and tie the whole set together. It will look like you purchased them in a boutique!

Wrap up the gift (consider purchasing a nice pen from a discount store and even throwing in a book of stamps) with a certificate you print off the computer enrolling the recipient into the "(Your name)'s Letter of the Week Club"! Choose 10 minutes one day each week (plug it into your e-mail calendar or phone alarm!) to sit down and write the person a quick letter. Buy or make yourself a set of cards and have a book of stamps on hand so that you never have an excuse not to write! In each letter, share highlights of the previous week and that you are thinking of the person. They will be thrilled with this gift that keeps on giving all year long!

3. Sports themed no-sew tie blanket

Perfect for: Husband, Teens, Sports Fans

These blankets are great! They are so warm and perfect for those chilly winter days ahead. At the same time, any sports fan loves to receive gear that is appropriate and useful for toting around when they are cheering on their favorite team. The best part of this gift is that it is so easy to make and comes out looking great!

To make the blanket: First, you need to buy the fleece material in the theme of your recipient's favorite team. For an adult sized throw blanket, you need 2 yards of one color/pattern of fleece fabric and 2 yards of a complementary color/pattern. Fabric stores do carry professional and college sports team themed fleece material, but I recommend buying through the stores' websites. It can be hit or miss to catch the exact fabric you want in the store, especially if you live in a different part of the country from your recipient. I would recommend checking out Hancock Fabrics, as I have noticed they often have licensed fleece on sale. If you wanted to save even more money, you could simply choose two colors of fleece that are the colors of the team and I'm sure the blanket will be an equally welcomed gift!

Construction of the blanket is easy. Lay the two pieces of fabric on top of one another and smooth them out so that all the sides and corners are pretty matched up between the two pieces of fabric. If you have a large area of floor that you can work on, that would be best. Second best would be a large dining room table or work table. Cut a 4"x 4" square from each corner of the blanket (through both pieces of fabric) and throw out the four (really eight) small pieces of fabric that you just cut out. Now, making sure that the two large pieces of fabric don't shift around at all, make your way down the four sides of the blanket, using a good pair of scissors, cut 4 inch slits, 1 inch apart, around the entire quilt (through both layers at once). When you are done with this step, you will have two large pieces of fabric (still laying on top of one another) with fringe around all four sides of the blanket. Now, start in one corner, tie each piece of fringe together, top layer to bottom layer - I would recommend a tight, or double knot for each piece of fringe. Work your way around the entire blanket. When you reach the spot where you started, you are done! Your recipient will be proud to be able to cheer for his or her team in style!

4. Personalized Coloring Book and Crayons

Perfect for: Kids

This is a fun gift to make and it is always a big hit! Your child's eyes will light up when they open their present and see a book full of their own adventures, ready for them to color! The best part is that it is so easy to create.

First, download a free "photo to sketch" software program such as this one. Then, either scan in your favorite photos of your child or collect your favorite digital shots. With the free version of the photo-to-sketch program, you need to upload the photos to the software one by one. As each photo is converted to a sketch, cut and paste the photo into a Word document. Most coloring books have one large drawing per page, so you should set the sketch to take up an entire sheet of paper. Decide if you want to include a caption at the bottom of each page. Print off all of the pages you have chosen, staple them together, with a piece of cardstock on the top and bottom of the stack, stick a color photo of the recipient on the front, and voila! It's a gift that is sure to be treasured! Pair the coloring book with a pack of fat crayons from your local department store for a complete gift.

5. Dress Up Chest

Perfect for: Kids

This gift is literally a treasure chest and you can make it happen for next to no cost. The first step is probably the most challenging, but you have lots of flexibility. You need to find something that can serve as the "chest" - I suggest visiting the Salvation Army, thrift shops, Craigslist.org, discount department stores, and garage sales (if you live in a less wintery area of the country!). Search for any type of large, sturdy box, with a lid. (I would caution you to be careful that the lid is not too heavy if your recipient has tiny fingers!). Then, feel free to personalize the box to suit the recipient. Use paint, stamps, stickers, glitter - anything that you feel will stir the imagination! Once your box is finished, start by raiding your closet and your halloween storage box - pull out anything that you no longer wear that would be fun for your child to use to dress up in. Get creative! Ideas would be a man's button shirt and a belt to be used as a dress, hats that are no longer in style, worn ladies' high heel shoes, a man's suit coat and tie, etc. If your own closet has been thoroughly combed, a trip back to the thrift store may be in order. Look for things like boas, oversized sunglasses and sparkly necklaces, uniforms and hats traditionally associated with different types of jobs (great finds would be a fireman type hat or an old nurse's uniform). If you are feeling brave, consider throwing in some costume makeup into the dress up chest to help your child with the finishing touches! The dress-up chest is sure to be well loved throughout the years!

6. Photo Calendar

Perfect for: Grandparents, Busy Parents, Teachers, Friends

This is not a new idea, by any means. You may have even given a photo calendar as a gift in the past. The great thing about it, however, is that it is the type of gift that never gets old! Even if you give a photo calendar to the same person every year for the holidays, they will be sure to love each and every one (they won't be exactly surprised after awhile, but they will still love the gift!).

If you have a simple level of familiarity with cutting and pasting photos and tables into Microsoft Word and Excel, you can create a calendar on your own pretty easily. If you need a little assistance, you can join a site like CalendarsQuick ($9.95 for unlimited use throughout the entire year). This site provides the calendars for you and shows you easily where to cut and paste your photos.

If you want to get really creative, you can even include special dates such as birthdays and anniversaries throughout the calendar. You might consider coordinating the photos associated with each month with the special dates that fall within that month.

Once you have created the calendar to your liking, you can print it off your home computer printer. The recipient is sure to enjoy the photos you include throughout the year!

7. Hot Cocoa Basket

Perfect for: Teens, Young Adults, Chocolate Lovers

This is an easy, inexpensive gift that is a wonderful way to give comfort to your loved ones during the chilly winter season.

Start with a basket of any size and style. You might have one around your house that you could use. If not, many discount and dollar stores sell baskets very inexpensively. If you live in the Northeast, the Christmas Tree Shops sell baskets very inexpensively and always have a wide selection. In the same vein, search the holiday sales for a couple of inexpensive coffee mugs that remind you of your recipient. Now it's time to fill your basket with goodies!

The secret to this basket is repackaging the items to give the basket a "boutique" (read: expensive!) feel. Go to the store and purchase the following items: a tin of hot cocoa mix, a bag of mini marshmallows, a package of heavy duty plastic spoons, a package of dipping chocolate, supplies to make your favorite cookies, and plenty of cellophane and ribbon to repackage all of the items (if you can find a package of small cellophane bags, that will be even better!).

If you have cellophane bags, open a few of them and fill them halfway with the hot cocoa mix. Fill each one to the top with mini marshmallows and tie each bag with some ribbon. Now you have several individually sized hot cocoa packets! Melt the chocolate until smooth and, holding each spoon by its handle, one by one, dip several of the spoons into the chocolate until the heads are completely covered by chocolate. At this point, you could add sprinkles for a festive touch, or leave the spoon as it is to cool. Wrap each spoon with cellophane and ribbon. Finally, bake a batch of your favorite cookies and wrap them festively. Arrange all items within the basket. A nice touch to include might be a holiday CD you could find while shopping for your basket and supplies. This time of year, you can often find such CDs for only a few dollars.

8. Tree Ornaments

Perfect for: Everyone!

I have always considered handmade, personalized tree ornaments to be the perfect gift. First, they are never the wrong size. Second, except in very rare cases, even if the ornaments are completely a different style than that of the recipient, the recipient will still use and enjoy the ornaments, since they do not feel they have to display them in their home throughout the year. Additionally, if you find an ornament that you would like to make, it's easy to make several of them at once in that style, and still personalize each one to it's recipient. Finally, as with all of these gifts, handmade items often come with extra care and thought included!

There are countless options for you to consider when choosing a pattern for an ornament, and it really comes down to what you feel like you can do and what you enjoy doing. Should you use wire and beads? Should you paint simple designs on globes? Should you bake cookies and turn them into ornaments? Should you use paper to create something interesting? As you can see, the possibilities are really endless.

Visit the blog "Not Made of Money" for directions to create 23 beautiful ornaments for your tree!

9. Baked Goods

Perfect for: Everyone!

I can't imagine anyone without a smile when receiving their favorite homemade pie, batch of cookies, or fresh loaf of fancy bread!

If you are a novice baker, you will need little more than access to an oven and a trip to the grocery store with your favorite recipe in hand!

You can purchase nice cookie tins, often for less than $1.00 each, at local discount or dollar stores around the holidays.

Once you have your recipe, ingredients and cookie tins in hand, start baking! It might take an afternoon to get through all of your baking, but you are sure to have lots of happy recipients when you hand out the gifts!

10.Family Recipe Book

Perfect for: All Members of Your Family, Especially Young Adults Just Getting Started on their Own

This idea may take a bit more preparation than some of the others on this list, but the preparation, itself, may turn out to be a gift for you that you were not even expecting! Think back to all the major family events you can remember - Thanksgiving? Christmas? Graduation Parties? Birthdays? What were the special foods and dishes that stand out in your mind as a part of those celebrations? Chances are, there are several dishes that are special and meaningful to your family. Start creating a list of all of those favorite family foods.

Next, make some phone calls, and better yet, some visits, especially to the older members of your family to track down the recipes. While you are visiting with each older family member and copying down their recipes, ask them about their earliest memories related to these meals and write down those stories as well. Ask everyone in your family for copies of photos, new and old, of your family over the years at special family events.

Once you have all of this information collected, type it up into a recipe book. You can divide the recipes however you think makes sense (often, they are divided into appetizers, entrees, desserts, etc.). Between the recipes, include the stories and photos that you got from your family members.

Print out several copies of the recipe book in color on nice paper. This is a great gift to give to all of your family members - and one that will be treasured for generations!


How do you hope to get creative in your gift giving this holiday season? Please share your plans - I would love to hear them!
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Buckle Up and Hang On... Tips to Help you Survive the Economic Roller Coaster!

What a month it has been! Between a tightening credit market, various banks failing on a regular basis, housing market dive, high gas and food prices, and a wildly volatile stock market, it's no wonder that it's tough to turn on the news each morning.

It is rough out there, but try not to panic. As much as the news media would like you to believe it, the world is not coming to an end any time soon. The good news is, there is plenty that you can do to put yourself in the best position possible to safely ride the crazy roller coaster that is currently our economy!

Here are my tips for you. Please feel free to ask me questions about anything you don't understand right now - I'll be happy to help you sift through the confusion.

1. Don't panic

It's easy to imagine total catastrophe when so much of the economy is in flux. However, it is so important to not become reactionary. I have heard more than a few friends wonder these past few weeks whether the best thing to do is to just pull all your remaining money out of everywhere and hide it under your mattress (and then climb into bed on top of it and not emerge until the scary times have passed!).

I urge you to be brave. I'm sure you have heard the old adage "buy low, sell high." Well, guess what? Right now, we are at a "low" point and this is the exact opposite of the best time to sell. The best thing you can do right now is to invest in a strong seat belt, buckle up, and hang on!

If you are a client of mine, you know that we always talk about how it is much better to be "in the market when it goes down" than "out of the market when it goes up."

One thing you can do with your investments is rebalance your portfolio, if necessary. You may have the intention of keeping, for example, 80% of your portfolio in stocks and 20% in bonds. With the market fluctuations, your portfolio may now have decreased to, for example, 60% in stocks and 40% in bonds. Just as you would when the market has been strong and certain parts of your portfolio have outgrown their intended proportions, you should readjust the percentages of your portfolio if certain parts have decreased in size faster than other parts of your portfolio. If your intention has always been to keep 80% of your portfolio in stocks, you should make sure that your portfolio is still in line with your intentions. (Resist the urge to change your target percentages or become more conservative as a reaction to current events!)

2. Protect your credit rating

You may have heard (and I'm not sure how you could not have heard, unless you have sworn off all major news networks!) that a huge part of this economic turmoil is closely tied to the credit markets. There is a lot of information and mis-information floating around out there right now about the credit markets. The simple truth is, the credit markets are tightening, meaning it is going to get much more difficult to obtain loans, mortgages, credit cards, etc. The large bailout package passed by congress should help a little to loosen the credit markets, but they may continue to be tight for a while - only time will tell.

At this point, I would highly advise you to fiercely protect your credit rating - no matter what it takes. Work hard to not miss any payments on anything - your cell phone, your credit cards, your mortgage, etc. If it means working a bit of overtime or getting a weekend job in order to start paying off some of your debts, in order to ensure that you will comfortably be able to make all your payments on time, it makes sense to do so at this point.

3. Live more frugally and save more

Even if you haven't started feeling the pinch personally, you should begin trying to live more within your means than you previously were. We are coming off a period of excessive spending, so it's likely we can each tighten our belts somewhere, even if it seems difficult. Pay off your debts, trim your luxury expenses: cable TV and internet packages, cell phone plans, going out to eat for dinner, vacations, start bringing your lunch to work. As you pay off your debts, sock away what you were previously paying toward your credit cards and luxuries into a high-yield savings account in order to create a good sized emergency fund. For years, your financial advisor and personal finance magazines have been telling you to create an emergency fund. The emergency times are now upon us, so as much as you can boost that fund in the near term will help you - aim for 6 months to a year worth of cash to cover essential expenses. If things start getting really rocky, you don't want to be living "paycheck to paycheck." I realize this is a very difficult thing to do when you feel like your back is already up against the wall, but it will be so worth it - even if you can just start saving a few dollars here and there, it can really help you if things start to get more difficult.

Remember, when I say "live frugally" and "save more" that does not mean withdraw money from your investments or your 401(k). Rather, I would argue that now is a great time to be investing in a well diversified, consistent manner. The stock market is now "on sale" - if you love finding great bargains on high quality items when shopping, now is the time to look to the markets for the same experience.

4. Review your personal insurance policies

You may feel that you have very little control over anything right now, and that can be frustrating. One great way to make a real difference in your personal financial life is to review your various personal insurance policies. The point of insurance is to help us survive in times of personal catastrophe. While you are working to save and set money aside into an emergency fund, another huge safeguard would be to prepare for the unexpected. Life insurance, disability insurance, homeowners, renters, auto, health and umbrella liability policies are all worth reviewing at this time. Having a great set of insurance policies really helps to minimize your risk in many ways when your whole financial life feels very volatile.

We have all witnessed the failures and rescue packages of huge financial and insurance powerhouses (such as insurance giant, AIG) over the past few months, so you might be wary to keep all of your insurance policies with one large company. I would not discourage you from diversifying your risk a bit in this sense. With the government's heavy hand in the economy these days, it is unlikely that a large insurance company would fail to the point that you would be completely uninsured, but none of us can tell the future. Diversifying across firms is a good idea here for another reason as well. Even though it might be convenient to deal with just one company, you should look for great companies in each area of insurance. A really strong life insurance company may not be as specialized in disability or homeowners insurance, so you want to look for the company that stands out in each area of insurance you are looking to buy.

Speak to a non-biased financial professional who can help you determine whether you have the right amount of coverage for your particular needs in each insurance area. Great insurance coverage will go a long way toward helping you sleep at night!

5. Dollar cost average into the market

Are you familiar with the concept of dollar cost averaging? It is a fairly simple economic concept designed to help you "buy low and sell high." In order to achieve dollar cost averaging, you will spend a fixed dollar amount at regular intervals (once a month, for example) on a particular investment or your entire portfolio, regardless of the share price. In this way, you end up purchasing more shares when prices are low and buying fewer shares when prices are high, and achieving an overall lower price per share.

I bring up this concept since it is currently a great time to get into the market in a diversified manner if you aren't already. If you are already in the market, you should stay in and continue to add to your portfolio. However, with all the volatility in the market right now, it is a particularly important time to make sure you take full advantage of the market's ups and downs.

6. Make yourself indispensable at work and boost your resume; Build your personal network

I always tell my clients that the greatest asset they have as a young professional is their ability to earn an income. With all the talk of gloom and doom these days, it can be tempting to tuck into your cubical, work away quietly at your desk and avoid the bad news as much as possible. However, we all must be aware of the very real possibility of layoffs as companies come to deal with the credit crunch and volatile economy.

Now, I'm sure we can all agree that from a business perspective it's impossible to make yourself truly indispensable at work. If your employer is going through layoffs, there might be little that you can do to help your situation. However, there are always things you can do to make yourself less dispensable. Look around and figure out which projects are difficult, and more dreaded than the rest, and volunteer for them, and do an awesome job at them! Enroll in a continuing education class, either through your employer or through a local university or center for adult education, in order to boost your resume and your skill set. Don't complain if your employer doesn't want to reimburse you (the long-term benefit will far outweigh the cost of the course), but make sure that they know how much you are learning from the class and how it applies to your job. Get excited about what you are learning and spend time chatting with your managers a about what your company does. Have lunch with your manager and chat with them about your excitement when it comes to the future of the company and the new and innovative things the company has been doing recently. Show your manager that you are more interested in helping the company succeed overall than in your own daily grind in your cubicle. Do you have a family friend or relative that might be interested in hiring your company's services? Have you ever asked them? Even if your job is the farthest position away from the sales department, now is the time to bring in potential clients to your company. Remember: profit generators are always the last ones on the chopping block!

Now is also the time to step up your networking. (I can hear you groaning now!) Networking isn't as bad as it sounds. You are probably already doing it, but you might just need to get a little bit more organized. Think about all the people you know - from college, high school, your neighborhood, your job (current and past companies), and your family and friends. You might already be halfway there if you belong to a website like LinkedIn, Facebook, MySpace or Gather. Make a point to call or send out notes to people whom you have not spoken with in a while. It doesn't have to be anything fancy. Ask them how they are doing and let them know you wanted to get back in touch with them. Remind them about what you are doing professionally and ask them if they can think of any ways that you could help each other to be more successful. Offer to put people in touch with each other if there is a natural professional fit. Generating good professional Karma is always smart - if anything ever happens to your job, you will then easily be able to turn to your network and they will be more than happy to help you!

7. Make sure that your bank is FDIC insured and that you don't have more than $250,000 in savings at any one bank

Now, this seems like a ridiculous scenario, even as I type it, but I suppose it is possible, and if so, it needs to be addressed. Do you have deposits (in a checking or savings account) approaching $250,000 in any one bank? If you answered "yes", my first question is: why? Why do you have so much cash sitting in a checking or savings account? Unless you are a super millionaire and six months of your monthly essential expenses equal close to $250,000 (in which case, I must say, congratulations, you have a pretty sweet life!), you should not have this much money sitting in cash. (In some areas of the country, this would be the equivalent action of having an entire house sitting in your checking or savings account!) You should diversify your assets. You should set aside an appropriate emergency fund and invest the rest into several different asset classes (including, yes, dollar cost averaging into the stock market). This is the best way to weather the rocky economy.

In order to make sure that your deposits are FDIC insured, you can do a couple of quick checks. First, ask your bank. Most banks in the United States are FDIC insured. The bank probably has a sign in the window, on the wall and on it's website indicating that it is a member of the FDIC. For extra confirmation, visit the website called Bank Find, run by the FDIC to search for your bank.

8. Stick to your plan (or create one for the first time)

There is a reason that you have the financial plan that you have. You (and/or your financial advisor) created it specifically for you, with your specific financial goals and risk tolerance in mind. Just because the world around you is a bit rocky, that does not mean that your personality or financial goals have changed. When the economy was not quite so shaky, you determined how much risk you can handle. That hasn't changed. Now is the risky time period you were preparing for when you originally thought about your risk tolerance.

Try to take comfort in the fact that you have a plan. You are in a really good position. If you don't yet have a plan, now is the time to get one. Find a financial planner that you can trust to help you create and stick to a plan that will help you and your family reach your financial goals. Remember that you must ride out the tough times in order to take advantage of the upswings as well.

9. Consider refinancing your mortgage

If you purchased your home in the last few years and you currently have an adjustable-rate mortgage and if your credit is good enough to get a nice rate on a long-term loan, I would highly recommend refinancing to a 30 year fixed rate mortgage. Many people would argue that this does not make sense for all situations, but my stance is that it makes sense for many. Remember that a big trigger of our current economic situation was the push to put everyone into mortgages that they might not be able to afford by using creative financing techniques.

Most people that buy into adjustable rate mortgages do so with the thought that they should only be in that home for a few years, and that they plan to sell their home before the rate adjustments begin (often after 5 years or 7 years). This plan can often save you some cash during those first few years that you own your home, however, make sure that you are taking all factors into account. What if the housing market is in a similar situation that it is in today on the day that you hope to sell your home? Would you be willing to sell at a significant loss, if necessary? Would you consider renting out your home at that point if you had to move? You might argue that you could refinance your mortgage to a longer-term loan at that point. Will you feel the same way if mortgage rates are significantly higher than they are today? With the extreme volatility in the housing and credit markets, and knowing that none of us have a crystal ball, my moderately conservative recommendation for you is to refinance to a long-term loan at this point if you can do so. This will help you to be able to sleep better at night as the economy fluctuates and settles over the next few years.

10. Believe in the strength of our economy

I know that this concept has become a political talking point over the past few weeks as the presidential election nears, but there is some truth to this idea. Despite what anyone, on either side, says for political gain, we should try to remember that the United States economy is resilient. Americans are adapters. Right now, we are just waiting for and working toward the next big idea that will help our economy to bounce back - Will it be green and alternative energy? Will the digital revolution take us to the next level? Will organic living take hold? Most likely, it will be something else that we aren't even imagining yet. Don't despair as you notice layoffs and a volatile stock market (although, I realize that in the near-term that is easier said than done!). Know that we are going to all be okay, because we are not a country that gives up when times get tough. Things might look a bit hairy at the moment, but I, for one, am excited to see what we come up with next!

Let me know what tips you have come up with to help us all survive this crisis - I look forward to hearing them!
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Secrets to the Designer Life on a Pauper's Salary

...Ok, maybe not quite a pauper's salary... but an average salary. It is possible, without any coupon clipping involved - I promise!

My husband, Scott, and I celebrated our 5th wedding anniversary this past weekend. We dug out and watched our wedding video after many years and I was reminded of how much effort we put into having a fancy and expensive looking wedding within our very average budget. We did things like designed and made our own invitations which resembled a high end, custom version. My mom made my dress after I hired a friend to design it to look like one I saw in a magazine. We hired a local music student to play piano in our ceremony and cocktail hour. You get the idea... (Maybe I should write an article about creating a high end wedding on a budget - stay tuned for that in a future month!)

Since I opened my financial planning firm helping young professionals here in Boston, I have spoken to many clients who are living a fairly comfortable life. They earn an average salary and are not interested in (nor do they need to be) living a "bare bones" existence, cutting out every little extra dollar spent, but they do admit that they could benefit from obtaining the luxuries that they do enjoy without breaking the bank. If they could continue to live the "designer" life at a lower cost, they could start putting away more of their discretionary income and more easily reach their important long-term goals.

I have pulled together my top tips to help you do just that - live the designer life for less. If you enjoy your luxuries, or if you simply enjoy impressing your friends and family with your lavishness, but would rather keep a few extra dollars of your hard earned cash in your pocket each month, this list is for you! Please respond and add your own tips when you get to the end. Enjoy!

Fancy Cars

If you find yourself yearning to drive every shiny new car you see on the road, these tips are for you. Here in Boston, our public transportation system is pretty good. Unless you live way out of town or you job requires you to drive every day, you don't need to own your own car.

I can highly recommend joining Zipcar, or a similar car-sharing service in your own city, for those situations in which you do need to drive. Zipcar offers you the opportunity to try out all kinds of nice, shiny new cars, and the rental fee is a small amount charged by the hour - you can choose a different car, from a Prius to a Mini Cooper, every time you drive! The hourly fee includes gas, insurance, parking, and maintenance, and the cars are parked all over the city, so there are sure to be cars near you. Now, I can hear you already... you are wondering how I can suggest you will feel luxurious with that big Zipcar sticker on the side of the car. I have two answers to that question: 1) Green Living is so chic right now. By joining a car sharing service, you are showing your friends and family how environmentally friendly you are! and 2) for a slightly higher hourly fee, you can choose BMWs from Zipcar, which don't have the big sticker on the side - they only have a small understated Zipcar URL on the back of the car.

If you can't give up your car ownership and are considering buying a luxury new car, consider a "certified pre-owned" version of the car you desire. These cars are thoroughly inspected, repaired and warranteed, and likely not very old. In many cases, the price for a certified pre-owned luxury vehicle will be more than a new non-luxury vehicle (and certainly more than a used non-luxury vehicle) but the cost is usually significantly less than the price for the new version of the model you are considering.

Designer Handbags, Shoes & Jewelry

This concept has been around for a while, but anyone who saw the new Sex and the City movie earlier this year knows that you can rent designer handbags! Do you want to always look trendy? Or how about vintage? How about looking like you have the kind of money to be able to carry a new designer bag every week? As Jennifer Hudson's character explained in the movie, "It's like Netflix for purses!" Through Bag, Borrow or Steal(TM) for example, you pay a low monthly membership fee (less than $10 per month), and then you are charged a reasonable rental fee for each item you borrow - you are free to keep it for as long or as short as you would like. Of course, it will cost significantly more than going out and buying a no-name handbag at Target or Payless, and carrying it for a year until it falls apart, but it's a huge savings over the $1,000+ per purse price-tag that these designer handbags often cost! Bag, Borrow or Steal offers the same opportunity for designer jewelry and sunglasses. In addition to purses, another company, Rent Me a Handbag, offers designer shoes and clothing for rent, plus an outlet section!

If renting purses is not for you, and you feel you must own your designer handbags and shoes, there are ways to find deals. The quickest, easiest starting point would be to type your favorite designer's name into ebay. However, be aware that there are MANY counterfeit purses and shoes available for sale through ebay. Before pursuing this route, read this informative article by an ebay power seller so that you understand the risks.

Especially if you are interested in vintage designer handbags, you might try checking out some estate auctions or visit thrift stores in rich neighborhoods near your home. In Boston, check out Poor Little Rich Girl in Davis Square. It’s hit or miss, but you have a decent chance of finding a nice vintage purse if you stop in regularly.

You should try your luck at thrift stores and estate sales in wealthy neighborhoods for designer purses, shoes and jewelry – you may have a good chance of finding a cool vintage item!

I would also recommend learning to make your own jewelry. With a little practice, it is not too difficult. It becomes easy to flip through your favorite magazine, tear out photos of designer jewelry that you love, and copy the creation yourself. You can buy beads and supplies at your local bead store (in Boston, try Beadworks in Harvard Square or on Newbury Street) or shop online at Art Beads or a similar site. You can even buy brilliant Sworofski crystals in bulk online for a discount.

Brand-Name Clothes

If you love designer clothes, but want to get them for less, I have a couple of suggestions for you.

First, I would say that right now, you are in luck. With the popularity of the hit Bravo TV show Project Runway, everyone is excited about finding the next new designer. As Heidi Klum says, "As you know in fashion, one day you're in and the next day you're out." If you feel that you always have to have a piece from the next new trendy clothing designer, why not jump ahead of the crowd and start finding the new trends yourself? Look around the Boston area (or your own city) and find some great up-and-coming designers. You will likely be able to find someone willing to create a wonderful, trendy piece for you, for less than you would pay an established, famous designer to do the same. Plus, all of your friends will be jealous that you found the cool new designer before they did! Some examples in the Boston area are:

Fashions by Christine – Middleboro, MA

Design & Thread – Newtonville, MA

Julienne Dang – Boston, MA

To find your own great new designer, spend some time at the upcoming Boston Fashion Week(September 12-19). It promises to be a great time and you will get a chance to see some wonderful local fashion. I would recommend not only looking at the designers on display, but talking to your fellow Fashion Week patrons. You might find a great designer hidden among them!

Alternatively, if you can’t manage to abandon your favorite famous luxury fashion designers, join an exclusive online club for free so that you can be notified when there are “secret” sales on your favorite designer items. Most of these websites are so exclusive that they are able to offer sample sale prices to their members on great designer items. The only catch is that for many of these sites, you can only join if you know someone who is already a member. If you are interested, I have good news for you – you know me! I can invite you to join ideeli.com, gilt.com, and/or ruelala.com. E-mail me at lisa@lantern-financial.com and I will be happy to invite you!

Pampering: Massage, Acupuncture, Manicures and Pedicures

If you love the way your fingers and toes look after a professional polish, here are some ideas for getting that high-end look for less. First of all, you can certainly create a soothing environment at home and give yourself a manicure or pedicure. Aside from the fact that it may be difficult for you to do a manicure (and especially a pedicure!) on yourself, a common complaint is that the type of nail polish you can buy at your local CVS produces a less professional look than the polish at the nail salons. I recently discovered that you can buy OPI nail polish (the brand from the salons with the cute names like “I’m Indi-a Mood for Love” and “Keys to my Karma”) online with a little planning, or as I did, at your local Target Greatland! It will cost a bit more than the cheaper polish at the drugstore, but if it’s all about the great color for you, an $8.50 bottle of polish will pay for itself within a couple of months! Pick up a massaging foot bath, some oils, salts, and a manicure/pedicure set including toe separators and a nail file, and you are in business!

If you have trouble getting past the idea of giving yourself a manicure or pedicure (and you can’t find a willing friend or spouse to help you!), reasonable professional options do exist. Avoid the typical options such as the spas on Newbury Street and the other higher-end big name spas around town. Look to the neighborhood where you live. Many small nail salon businesses are less expensive and you might even be able to find a mani/pedi combo deal for less than $25!

You might not realize that you also have the opportunity to help out a student in the field of massage, beauty or acupuncture and save significant cash in the process. Check out the Elizabeth Grady School of Esthetics in Medford or the New England School of Acupuncture in Newton for some great deals on beauty and pampering services. Keep an eye out in the coming year for the massive Academy for Hair and Skin by Elan Sassoon, which is scheduled to break ground near Boston University this month. Let’s keep our fingers crossed that there will be great opportunities to be had for inexpensive beauty treatments by the students in the future!

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