Join our Tweetchat this Thursday at 12:00 pm Pacific for lively conversation and a chance to win prizes! Use #WBChat to participate.

This week’s topic: Renting vs. Buying. Learn about the positives and negatives of renting vs. buying a home. Tell us about whether you rent or own your home and share your opinion on when it is best to rent and when it is best to buy!

For an easy way to keep track of the conversation, try using our special Tweetchat Chatroom.

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To make it easier for us to keep track of attendees and pick our winners, please RSVP below with your twitter ID (put that in the “Link Title” field), email address, and your twitter URL (put that in the “URL” field, do not put your blog’s url in there). Winners will be selected at random from RSVPs. If a winner is chosen who RSVPed but did not attend a 2nd winner will be chosen.

New Parenting Chat Immediately Before #WBChat

Our sister blog Parenting Squad (@ParentingSquad) will be hosting a parenting chat every Thursday at 11:00 am Pacific. Drop by for fun parenting conversations and a chance to win prizes! Use #PSChat to participate.

Wise Bread

As a mom, I want to teach my kids everything they need to know about money and life, preferably before they leave my home (the oldest will be going to college in the fall, and time is running out). As a writer for Wise Bread, I see how I fall short compared to many readers who, based on their comments, have parents who taught them to flawlessly distinguish needs from wants or have ingrained the full value of a dollar in their children by requiring hard work inside and outside of the house on a daily basis. 

Fortunately, kids and teens can learn from imperfect parents. Plus, they can teach their moms and dads financial lessons the grown-ups had never considered or remind them of timeless financial truths. Here are some things that teens have to say about spending, making, and saving money. (See also: 10 Tips From a Financially Savvy Teen)

Being Fashionable Means Having Your Own Style

High school student Syretha Shirley of Las Vegas tells me that relying on designer labels and name brands to define your style puts you on the path to being a conformist, which is counterproductive to being truly fashionable. In some cases, insecurity can influence people to copy the cookie-cutter style statements offered by leading brands. Don’t count on your shoes (no matter how expensive) to boost your self-image, she says. Have the confidence to express your style through distinct choices.  

How to Develop Your Own Style

Define your signature style, set a budget, and shop at discount stores like Marshalls or thrift shops. Pull together disparate items to create your own look. To have fun and build a stylish wardrobe, take shopping trips with a friend and work together to uncover fashionable finds.

If you don’t have the time or taste to develop a distinct stand-out style, adopt a simple, tasteful one or a classic look that’s easy to create and maintain.

Making Money Can Build Your Savings and Your Self-Esteem

Jack James of San Jose, California, a 13-year-old and book author, tells me that he was surprised to find that running his own business boosted his self-esteem, which was damaged by bullying at school. During the two years that he was homeschooled to get back on track academically (Jack has dyslexia) and become stronger in his sense of self, his mom suggested that he start a business. He resisted at first, but her nagging convinced him to consider how he could earn money.

A few years ago, he began bringing in garbage, recycling, and yard waste carts in a business that continues today. Many of his neighbors are his customers, giving him the opportunity to develop friendships while also providing a service. He deposits his earnings in a savings account, which has grown to a healthy $ 1,000.

The side benefit from the business is the self confidence that Jack gained from generating income. Unlike bullying peers (and the adults who witness but don’t advocate for those who are being bullied), the money doesn’t unfairly judge or condemn but has the capacity to reward effort independent of learning abilities and disabilities.

How to Earn Some Money

Both teens and adults can do lots of things to earn money through money-making hobbies and side jobs, such as playing an instrument or tutoring.

Teens can make a side income doing traditional teenage jobs (like babysitting or cutting grass) and helping adults that are willing to pay them for services (like painting or moving stuff).

At any age, finding a way to make money that makes use of your natural talents is ideal not only for earning income but also to prepare you for a career or help you in your present job. My youngest son began selling his old stuff online a few years ago and learned how to present merchandise, respond to inquiries, price goods, and fill orders. He is interested in a career in technology and having some of these experiences gives him firsthand knowledge of user interfaces, financial systems (he has his own PayPal account), and more.

Don’t Worry, Just Save

Money problems are a source of worry, stress, and suffering. Syretha has watched as family members overspent on their wants, became unable to take care of their needs, and, in some cases, made mistakes in attempting to get money quickly with life-changing consequences.

How to Avoid Worry Over Money

Realize that you really will need money later, despite how distant those needs seem now. Save to avoid extreme stress and financial crises, which can lead to poor decision making and cause problems that affect long-term career possibilities, personal freedoms, family relationships, and more.

Match your lifestyle to your financial wherewithal, and make sure to set aside money for future needs. Don’t put purchases for day-to-day needs on your credit card. Use your credit card for true emergencies, not fashion wants or other types of non-essentials.

Put Yourself First

Place your values and goals above social opinion instead of trying to please or impress other people. Trying to be popular can often sidetrack your efforts so that you are unable to spend time investing in yourself and achieving your goals.

Investing in herself is a priority for Syretha. Much of her time is spent improving herself, her financial position, and her community. Currently, in addition to high school and side jobs (babysitting and braiding hair), she is being mentored, writing a book of poetry, participating in a teen empowerment group focusing on personal development and community service for young women, and attending a Boys & Girls Club where she took a Money Matters course on financial literacy.

When Boys & Girls Clubs of America partnered with the Charles Schwab Foundation to sponsor the Money Matters Music Mogul contest, both her mentor and mom encouraged her to enter. She wrote an original song that won first place and was made into a music video by hip-hop producer Kevin “Khao” Cates. 

Watch video

Putting yourself first doesn’t mean not caring about others but having the freedom to focus on what is important to you. For example, one of the reasons that Syretha is so happy to win the contest is the opportunity to spread the word about being money smart to other teens. 

How to Put Yourself First

Use money and time in ways that are fulfilling in the present and helpful for the future. What specific actions you take may differ from your friends but might include:

1. Earning a college degree
2. Learning something new or bettering current skills
3. Writing a book or authoring a blog

These are all ways to use your talents and money for long-term benefit, rather using money to satisfy immediate and short-lived desires.

Don’t Confuse Stuff and Status With What’s Important

Recently, my oldest son taught me a lesson about money and values. Like many parents, I have always thought that teaching kids to be unmaterialistic is best accomplished by sending them on service projects or mission trips in which they serve impoverished families. The reasoning is that teens will realize how rich they are in comparison to less fortunate others. Then they will be grateful and frugal. For example, my teenage sons have spent at least one week performing home repairs for near-penniless people referred by the Department of Social Services. 

But seeing the poor live with little doesn’t necessarily translate into feeling rich with less stuff.

My epiphany came during spring break, after my oldest returned from a community-wide, church-sponsored event called the 30-hour famine. He seemed elated, having enjoyed hanging out with friends, meeting new people, and teaming with a few other kids to win the organizer’s version of the “Amazing Race.” Listening to his experiences made me realize that being happy with less is not the goal of financial wisdom (though this ability is helpful); instead, it’s valuing what’s really important, like friendships, community camaraderie, and yourself, independent of the stuff you’ve accumulated and the status that stuff may confer.

How to Know What’s Important

Spend time on the activities you enjoy, the things that will make you a better person, and the people you like to be around. Use your priorities to motivate you to do more with fewer resources, not to be stingy but to express your style like Syretha says.

Wise Bread

When I woke up to the reality of having $ 20,000 of credit card debt, I had to face this hard truth — I didn’t get into debt overnight, so I’m probably not going to get out of debt overnight.

In fact, it took me four and a half years to pay off my debt. There were plenty of times throughout that journey when I wished there was some easy way to just wipe it all out. But there was no easy way. I don’t recall ever considering bankruptcy. I racked up all that debt. I needed to pay it all off.

So I did. Slowly. Month after month, I sent big checks to creditors, paying dearly for trips I had taken long ago and restaurant meals I no longer remembered.

Today, with the perspective that time brings, and with lots of experience helping others struggling with debt, I honestly believe that the slow and steady way out of debt is the best way. (See also: How to Start Fighting Debt — Today)

The Danger of Fixing Symptoms

For many people buried under a mountain of debt, bankruptcy looks appealing. A quick way to end the pain.

However, according to a paper published by the Bankruptcy Data Project, a Harvard University-based research group that has studied bankruptcy for over twenty years, one year after filing for bankruptcy, one in four filers were struggling to pay routine bills, and one in three said their overall financial situation was similar to or worse than when they filed.

Tossing your debt overboard may feel good for the moment. However, for many people, ditching debt without addressing the underlying causes often turns out to provide only short-term relief.

Lasting Changes Require Changes of the Heart

When I was blindly digging my way into debt, I saw buying stuff as the route to feeling good about myself. I bought things I couldn’t afford in order to tell the world I was somebody.

I also saw carrying a balance on credit cards as normal behavior. How else did most people get by? 

I probably could have learned some helpful new behaviors around money without changing these attitudes — how to use a budget, how to set up an emergency fund, and the like. But without a serious attitude adjustment, I doubt I would have been interested. Or, if I did start dabbling in new habits, they probably wouldn’t have lasted very long. 

A psychiatrist friend tells me that attitudes and behaviors work in circular fashion to bring about change. Behavioral changes tend to alter our attitudes, and attitudinal changes tend to alter our behavior. However, they don’t usually happen on the same schedule. While we may be able to force ourselves into some short-term behavioral changes, attitudinal changes take time. You can’t just slap on a new conviction like cologne.

Getting on the Slow Track

To be sure, getting out of debt requires behavioral changes. You need to stop going any further into debt. You also need to gather the facts. How much debt do you have? Write it all down, and add it all up. Create a cash flow plan (AKA, a budget). Then start rolling a debt snowball.

However, getting and staying out of debt also requires the slower work of heart change. Start by taking a close look at your financial attitudes. Are there any ways of thinking that have contributed to your debt? Have you been buying things you can’t afford in order to feel better about yourself, like I did?

Acknowledging those attitudes is the first step toward changing them.

One of the key attitudinal factors that helped me turn things around was accepting responsibility for my debts. The credit card companies didn’t manipulate me into carrying balances on my cards. My parents didn’t fail me in some way. 

It wasn’t about beating myself up about my debts; it was about acknowledging the truth. I was responsible for my debts.

To be sure, some people with debt problems have gotten into financial trouble by way of horrendous life circumstances. A divorce, an extended period of unemployment, catastrophic medical bills. I don’t mean to be insensitive to any of that. But it’s been my experience that when a person with debt owns their role in the debt — and most people with debt played at least some role — they have a far greater chance of getting and staying out of debt.

If you have a lot of debt and you’re just beginning the process of getting out from under, I’m sure the idea that it may take several years doesn’t sound the least bit appealing. However, I’m thankful to have taken the long way out. It took time to change my money-related attitudes and cultivate some healthy financial habits. Since paying off the last of my debts some 15 years ago, I have carried no debt other than a reasonable mortgage. 

I firmly believe that taking the slow road was the key to making changes that have stuck.

Wise Bread

Being a mom is the hardest job of all, and it’s tough to find a gift that will reflect your appreciation. What it comes down to is how much thought you put into the gift. My mom still talks about the time in middle school when I attempted to make a six-course meal. She still raves about my poorly made pâté to other people, which to me just proves that moms really think the world of their children. So what are you gonna get your best cheerleader? Read on for some suggestions.

RELATED: 6 Fun and Frugal Activities to Do With Mom on Mother’s Day

Homemade Potpourri

Create a natural air freshener from your mom by making a bowl of potpourri with a carefully picked blend that caters to her preferences. Here are a few tips to make potpourri.

What to Dry

Dry flowers, roots, plants, fruit peels, and more. Pick something that you think will make the potpourri aesthetically pleasing. Tipnut has a nice list of potpourri ingredient suggestions.

How to Dry

Hang the plant upside down and tie it to a piece of string. For things like twigs and roots, place them on top of a screen. Place the items in a dark area. Alternatively, Proflowers explains how to dry your plants in a microwave.

Essential Oils

If you’re disappointed by the faint smell of your final product, buy an essential oil and sprinkle some of it over your potpourri.

Container

Put the potpourri in a cute jar or bowl that will complement your finished product.

The potpourri will take some time to make unless you decide to dry it via microwave. Remember to carefully follow the instructions from Proflowers before proceeding.

DIY Bath Salt

This is such an easy yet practical (and beautiful) present to make. Not to mention, it’s budget-friendly and you can get all the ingredients at the supermarket! Here’s what you have to do:

Buy Salt

Go to a supermarket and choose the salt you want to use in your product. You can mix different types to make it look more appealing. Be sure to take note of the grain sizes.

Add Fragrances and Color

You can choose to mix in essential oils or food extracts to make the salt smell nice. Add in food coloring to make the bath salt look prettier. Test out your fragrances and coloring on small amounts of salt beforehand.

Store It

Pour your salt into a jar and use decorative labels or ribbons to make it look more professional. You can even reuse jars that have contained food you’ve eaten, such as jam or pickles — just remember to clean it and take off the original labels.

Make Chocolate-Covered Strawberries

If your mom has a sweet tooth, this is the perfect gift for her. Melt some chocolate and dip strawberries into the mixture. Place them on a baking tray and cool it in the fridge. If you need more guidance, YumSugar details the process with pictures.

Buy Her Groceries

Moms definitely love and appreciate practical gifts. If you know your mom well, buy her groceries before she makes her regular trip to the supermarket. Or, ask her for her grocery list and tell her you’ll be making the trip for her as a mother’s day present. If you like, you can slip in a surprise such as a card.

Clean Up

Tell your mom to take the day off and clean her residence until it looks like it’s spanking new! Mop, scrub, and polish until you can see your reflection on the surfaces.

Organize her items if necessary, and if you’re ambitious, you can attempt to color code her closet!

Draw a Bath

Draw a bath for mom and fill it with bubbles or throw in some bath salt. Pick a book or magazine for her and leave it beside the bath with a towel for her to wipe her hands on. I recommend checking out Oprah’s book club for suggestions! Or, set out an old favorite of hers if you know she likes to reread novels.

You can also set up your ipod and speakers (if you have them) in the bathroom and play relaxing music or an audio book for her bath.

Tulip Bulbs

Go out to Home Depot, Walmart, or any other superstore to buy tulip bulbs for your mom. Call before going to see if they have it in store. You can also choose to buy potted plants for her to brighten up her apartment if she doesn’t live in a house. Plant the bulbs together with Mom, and watch them grow!

Mix Laundry Detergent for Her

If your mom is a cleaning fiend, she’ll love this homemade laundry detergent. There are plenty of recipes online, but I favor this simple recipe, which requires two cups of grated soap, a cup of borax, and a cup of washing soda. Here are a couple more detergent recipes from Tipnut if you want to experiment around. Put your finished product in a nice container or jar and you’re set to go!

If that seems like too much work, you can get homemade laundry detergent from Etsy ($ 20) if you want to splurge a little.

Pretty Lockets

Buy some intricate lockets from Etsy such as this rose journal locket necklace ($ and Bird and Patina ($ 30). You can find even cheaper lockets in stores like Forever 21.

Once you have your locket, insert a picture in there. You can pick photos of your children or ones with you and your mom in them. She’ll be wearing a memory on her neck!

Wise Bread

Most people are a fan of at least one sport or team. Whether it’s your college football team or your favorite NBA team, chances are you watch your team play from time to time. You may even splurge and attend sporting events every once in awhile! However, the cost of attending games may deter you from buying tickets.

Do you go to sporting events? If so, how do you save on tickets? Do you use eBay? Craigslist? Ticketmaster? Or do you opt to stay in to watch the big game? 

Tell us if you go to sporting events and we’ll enter you in a drawing to win a $ 20 Amazon Gift Card!

We’re doing three giveaways — one for random comments, one for random Facebook “Likes”, and another one for random tweets.

Mandatory Entry: 

• Post your answer in the comments below 

For extra entries (1 per action):

• Go to our Facebook page, “Like” us, and leave a comment on this article telling us you did, or
• Tweet your answer. You have to be a follower of our @wisebread account. Include both “@wisebread” and “#WBAsk” in your tweet so we’ll see it and count it. Leave a link to your tweet (click the timestamp for the individual URL) in a separate comment.

If you’re inspired to write a whole blog post OR you have a photo on flickr to share, please link to it in the comments or tweet it.

Giveaway Rules:

• Contest ends Monday, May 14th at 11:59 pm Pacific. Winners will be announced after May 14th on the original post. Winners will also be contacted via email.
• You can enter all three drawings — once by leaving a comment, once by liking our Facebook update, and once by tweeting.
• This promotion is in no way sponsored, endorsed or administered, or associated with Facebook.
• You must be 18 and US resident to enter. Void where prohibited.

Good Luck!

Wise Bread

A spending fast (also known as a spending freeze or a spending lock-down) is a method of getting out of debt through the elimination of all “non-need” spending.

By doing a spending fast, I was able to substantially improve my financial life by paying off $ 23,605.10 in debt in a matter of 15 months! Now I am able to live a debt-free and autonomous life, one where my goals take priority and the debt doesn’t. (See also: How to Not Be a Debt Slave)

Before deciding to do a spending fast there are a few factors to consider; these are all elements that will affect how quickly you are able to become debt-free.

Factors That Will Affect Your Spending Fast

• The total amount of debt you have
• Your income
• How much spending you decide to cut out
• The duration of time you chose for your spending fast 
• How much money you can make by selling your unused possessions
• What you chose to do to generate additional income 

My life completely changed when I finally decided that I had to be done with my debt. The cycle of debt and remorse needed to end once and for all. Life is better on this side — the debt-free side. So, if you want to get out of debt and change your life by doing a spending fast, this is how it’s done.

1. List Your Debts and Their Interest Rates

Make a list of all your bills. Write the highest-interest rate bill at the top of the list and the lowest interest rate bill at the bottom of the list. This will determine the order in which you will eliminate each bill.

2. Ask Your Creditors for Lower Interest Rates

Some credit card companies will actually lower your interest rate, so it’s worth a shot to call them and ask.

3. Picture the Life You Dream of Living

Determine your priorities by putting actual pen to paper and by writing down your ideal life. What would you be doing if you didn’t have to work for a living? How would you spend your time, and when are you the most happy?

4. Ask Yourself, “Is There Any Way That I Can Reach My Goals With the Debt I Have?”

If the answer is “no” and you don’t feel good about it, then it’s time to start thinking about making some serious life changes. If you find yourself making decisions about things to do (or not do) things based on how much debt you owe, be very honest with yourself. Does your debt prevent you from living a life that is true to you? Does your debt (and your obligation to it) pull you and angle your decisions in even the subtlest ways?

5. Decide to Be Done With Debt Once and for All

If you’re not ready to be done with your debt, then you might want to try some other methods first. The spending fast technique requires commitment and dedication. A spending fast is a way to get extreme results in a relatively short amount of time, but you have to be ready to go forward full-force with it. 

6. If You’re Partnered, Try to Get Them to Do the Spending Fast With You

It’s a lot easier to change your life if your partner is on board but, if they aren’t, then consider doing the spending fast solo (separate bank accounts are very helpful here). 

7. Set a Time-Frame for Your Spending Fast

I recommend a year, so you can get past the difficult beginning part (where all your habits are getting changed) and into the real benefits part (where your debt is getting paid off).

8. Make a Public Declaration of Your Desire to Become Debt-Free

Tell your friends and family about your decision to do a spending fast so you can have the accountability that comes along with it. In addition to telling your family and friends, you can take a Debt-Free Life Pledge on my spending-fast site.

9. Create a “Wants and Needs” List

The “wants and needs” list will serve as the backbone of your spending fast. On the “needs” list include the bare necessities needed to live: rent, food, utilities, etc. On the “wants” list, put everything that is an “extra” in your life. Things that went on this side of the list for me were items like clothes, coffee at coffee shops, movies in the theater, gifts, bed linens, new music, new make-up, shoes, etc. (Here is my original spending fast wants and needs list if you’re interested in seeing it.) The “wants and needs” list can (and will) be different based on each person’s varying priorities in life.

10. Spend Money on the “Needs” Side of the List Only

This is the simple-but-not-easy part of the spending fast.

11. Think About What You Can Buy Rather Than What You Can’t

If find yourself starting to feel bummed out when you’re in the thick of the spending fast, try to shift your perspective, because it will do wonders for your morale. Remember to keep having fun (just the free kind). Remember that the spending fast isn’t forever. There is a light at the end of the tunnel (that’s why you set a time-frame at the start), and remind yourself of why you’re doing the spending fast in the first place — it’s to get out of debt once-and-for-all and to change your life!

12. Become Immersed in a Community of Like-Minded People

On my spending-fast website, And Then She Saved, I’ve started a community page where people share their questions, struggles, accomplishments, set-backs, tips, tricks, and most importantly, their getting-out-of-debt successes. It’s a great place to get a reminder that we aren’t alone in our dreams to live debt-free lives.

13. Attack Your Debts

At the end of the month, send all the money that is left in your account to the bill that has the highest interest rate. Continue to send the minimum due on your other bills. Once a bill gets knocked out, be proud of yourself! You’re really doing it! Then, attack the next highest interest rate bill on the list. Become competitive with yourself; try to get better numbers than the previous month and keep track of your savings from month-to-month. To be able to see all of the savings at the end of the year is amazing.

14. Be Committed to the Process

It’s unrealistic to think that “mistakes” won’t happen so keep going even when they (inevitably) occur. 

15. Continue With the Spending Fast Until You Reach Your End Date

Stick with the spending fast for the entire time-frame you committed yourself to. If you reach your goal of paying off your debt and you happen to do it before your predetermined end date (um, awesome!), then why not keep going? Squirrel away the extra money and prepare yourself for the next step — financial security.

16. Be Proud of Yourself for What You Accomplished — Big or Small 

When you come to the end of your spending fast, look back on all you were able to do. Being proactive and being willing to take charge of your life and finances is definitely something to be proud of!

Throughout the spending fast, always be on the look-out for ways to cut the “needs” list down even more, get creative with ways to save money, and be willing to make things yourself in an effort to save.

Before you know it, saving will become (unbelievably) more fun than spending and your financial life will be forever changed.

Wise Bread

Having a side income can make life a lot easier. But there are some good ways to earn that side income and some seriously awful ones. I’m not talking about dirty jobs or hard work — there’s nothing wrong with sweating for your money or needing a shower after your side job. But it doesn’t make sense to slave away over something that isn’t actually going to put money in your pocket. The “opportunities” below fall into that category. (See also: Ways to Make Extra Cash)

1. Filling Out Surveys or Surfing the Web

This work isn’t particularly difficult, and it’s easy to sign up for. The catch is that you earn pennies (at most) for any survey you complete or any site you visit. Actually making enough money to make your time worth it is impossible. To make matters worse, most of these offers only pay out once you’ve earned $ 20, which can take months.

2. Investment Schemes

Whether we’re talking about day trading, trading in foreign currency, or other investment schemes, it’s rare to make a lot of money with these approaches — and fairly typical to lose a lot. There are a few individuals who have done quite well with various investment schemes, but that’s usually due to a combination of a lucky investment and the ability to invest quite a lot of money at once. For us mere mortals, it’s a bad bet.

3. Medical Testing

Agreeing to try out new drugs or other medical procedures for money sounds like an easy thing to do. But while there are some people who make something approaching a full-time income from being a test subject, it requires not informing one lab that you’re working for another lab. That’s because being a lab rat doesn’t pay well. Of course, that’s not even considering the side effects you might experience.

4. Selling Body Fluids or Organs

While selling an organ is illegal in the U.S., selling plasma, eggs (if you’re a woman), and other bits of yourself is considered okay. It’s not particularly lucrative, though — even selling your eggs, which used to bring in a check of around $ 10,000, now pays closer to $ 3,000. Considering that there can be some major side effects, depending on how a doctor chooses to harvest those eggs, it’s not an equitable pay off. Giving plasma repeatedly can also impact your health.

5. Sign Spinner

Standing by the side of the road to draw attention to a local business, such as by spinning a sign, has a long history. Businesses have hired people to stand outside their locations and convince buyers to enter for centuries. But it’s become a less lucrative job over the years and can now rank particularly poorly, especially with the need to stand near busy streets and breathe in pollution for hours on end.

6. Renting Out Your Stuff

There are an increasing number of websites that let you rent out your car, parking spaces, a spare room, tools, or anything else you might have. But because most of these sites orchestrate short-term loans, you’re not about to raise a lot of money this way. You better have other motives for renting out your things than just cash.

7. Recycling Scrap Metal

The prices that recyclers pay for scrap metal fluctuate pretty regularly. Even when they’re good, though, it’s hard to turn recycling scrap metal into a lucrative opportunity. In order to make a sizable amount of money (think over $ 500), you need to turn in something like an old car or camper. Collecting old soda cans isn’t even going to earn you minimum wage, and you might get pretty smelly hunting them down.

8. Treasure Hunting

Infomercials for metal detectors promise that you’ll find all sorts of valuables while taking a relaxing stroll down the beach. But even if you take a more active approach to finding some treasure, the odds of actually finding something are slim.

9. Work-at-Home Schemes

There are plenty of lucrative ways to work from home, but there’s a particular work-at-home scam that goes around on a regular basis. Someone will post an ad offering people the chance to make money stuffing envelopes or assembling crafts at home — some sort of situation where you have to buy supplies from the advertiser before you can start making money. But when you actually do the work, the scammer tells you that your work doesn’t meet requirements.

10. Playing Video Games

There actually used to be some well-paying opportunities that went along with playing video games, like creating in-game items and then selling them for real-world money. But these days, you have to compete with players in cheaper markets who have dramatically driven down the value of most of the items you can commonly sell.

You may read through this list and think that you could make some serious money with any of these options — that you can buck the curve. But the reality is that with each of these situations, earning money is incredibly difficult. It requires more luck than it really ought to, and the odds are good that you won’t even hit minimum wage with any of these ventures. You’d be better off picking up a second job before considering any one of these options.

Wise Bread

Tired of dragging your screaming kids to the mall? Wittlebee, a kids clothing club that ships directly to your home, is here to help. For $ 39.99 a month, Wittlebee will send you a box of clothes customized for your child after a free phone consultation with their stylist.  

You get 8 items a month from brands like American Apparel and Cottonseed. According to a Techcrunch interview of Wittlebee, their monthly shipments “essentially packs about $ 80 of clothing in to each $ 40 box of clothing sent.”

To celebrate Mother’s Day, Wittlebee is giving away 3 free months of Wittlebee to 3 lucky Wise Bread readers! (Value of $ 120)

How to Enter

There are two ways to enter. Before midnight on May 31:

1. Leave a comment below answering this question: “What are the best shopping or style tips you got from your mom?”
2. Follow @WiseBread and @Wittlebee. Then tweet this message: “RT this for chance to win 3 free months of @Wittlebee from @WiseBread http://bit.ly/wittlebee #WittleTips”

You may enter both ways to increase chances of winning. You can enter one comment and tweet per day. Here’s a sample of what Wittlebee clothes look like:

Contest Details

Wise Bread

Making a plan is one of the most simple and effective things you can do — not just for living frugally, but for living life. There are few great things that were not made with some sort of plan.

I’ll admit that talking about planning’s awesomeness is easy for me. I am a natural planner. It’s a quality that has both benefits and problems. On one hand, I love that it helps me get things done. But I also have to work to accept changes when a plan is modified for reasons beyond my control. I get jealous of people who easily adjust to the unexpected. (See also: 4 Tips for Living Spontaneously on the Cheap)

There are benefits to both sides, of course — and by learning to balance planning and spontaneity, we can all save more money and live better.

Make Small Plans

A lot of the common frugal living advice — bring your own lunch, don’t go to the coffee shop — these are small plans. You have to plan ahead to buy the food for lunch, and plan the time to put that food together. When you make lots of little plans like this, the savings can really add up. And there are thousands of ways to save money with small plans, including:

• Buying products when they’re at their cheapest
• Making your own coffee
• Preparing home-cooked meals
• Using daily deals vouchers
• Searching for the right travel deals

…and many more.

Make Big Plans

Big plans often require, well, big planning. They can take time not just to achieve, but to simply plan. And making big plans can be challenging — I mean, some of the most well-paid people out there are essentially master planners, such as architects, engineers, and so on.

But big plans also have the biggest payouts. Big plans are what make the most epic movies, the tallest skyscrapers, and elite athletes. These plans take time and commitment.

In the world of personal finance, big plans are things like your budget and the steps to achieve your finance-related life goals — things like buying a house, sending your child to college, or creating a submarine that honks its horn and tailgates James Cameron as he travels to the bottom of Challenger Deep (OK, that’s not really a goal I have, but I just think it would be hilarious — and cost a lot of money). Big plans are there to inspire you, remind you of what you’re working towards, and give you concrete steps to reach those goals. And when you feel off track, big plans are there to help you get back.

When it comes to saving money, big plans are like a calzone, with lots of small plans making up the delicious filling. If you already have all those small plans prepped, making that big plan is pretty easy.

You might think that you can start saving more without a plan. And maybe, maybe you can. But honestly? It’s not likely.

Make Realistic Plans

Whether your plans are big or small, they’re not going to benefit you much if you can’t stick to them. And I don’t mean that in the sense that someone, somewhere could stick to these plans; I mean that you could stick to them. There is a person on this planet who is able to run faster than everyone else. But no matter how much you train, it’s probably not going to be you (sorry, sport).

Make plans that challenge you, but are doable in your situation. If your Mondays are absolutely crazy, and you simply can’t make your own lunch that day, buy lunch on Mondays and bring it in every other day of the week.

When your plans become habits, make more plans.

Don’t Worship Plans

Plans are great. I’d even argue that they’re necessary. But don’t consider your plans to be holy word written in stone. We will always get curveballs thrown at us. And fastballs. And palmballs. And Vulcan changeups (which Wikipedia informs me is a delightfully named type of pitch).

This is where spontaneity comes in. It can feel difficult, or even impossible to accept a change in a plan. But that doesn’t mean it’s a time to give up. Rather, it’s a time to adjust what you’re doing, move forward, and stay open to new opportunities.

Your turn, readers — are you a planner? What role does planning take in your life?

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