I honestly did not know it existed until recently. So I decided to do a little digging to find out more.

It’s not surprising that wedding insurance is gaining in popularity. The average wedding cost in 2010 was over $24,000. That’s a lot of cash. And a big financial risk if something goes wrong.

What is Wedding Insurance and what does it Cover?

Wedding insurance covers you on losses in the event that you lose your non-recoverable deposits and purchases if covered circumstances beyond your control cause you to cancel or postpone your event or spend additional money.

What kind of things could be out of your control?

Well, let’s say a tornado or fire takes destroys the location you were going to have your wedding – that was pretty much out of your control, and it would likely lead to you having to cancel your event.

Another example might be your wedding dress not being delivered in time for the wedding, causing you to postpone the event.

Or maybe you get violently ill right before the wedding or have a heart attack – weddings are stressful occasions, right?

Outside of cancellation or postponement losses, wedding insurance could cover:

• damaged or lost apparel or rings
• lost or stolen gifts
• wedding photo damage or lack of clarity
• having to pay extra for a last minute change in caterer or other service provider

The key to having the insurance cover your losses is that these circumstances must be out of your control.

Do your research, as what is covered under each wedding insurance policy will vary.

You can also add liability coverage, which can protect you if someone gets seriously injured or otherwise at your event and decides they want to take legal action against you. Liability coverage usually adds to the cost of your premium.

What Does Wedding Insurance Not Cover?

Don’t expect wedding insurance to cover all unexpected costs associated with your wedding.

Wedding insurance does not cover “change of heart” (cold feet) cancellations. Some wedding insurers may offer an additional “change of heart clause”, but it will likely cost you dearly.

A recent study in New York showed that 6.5% of couples who applied for marriage licenses ended up getting cold feet. There is a good reason why most wedding insurers don’t cover this – it’s all too common and it would probably make it prohibitively expensive for most couples. So be nice to your spouse-to-be, or you are SOL.

It also does not cover loss that results from existing medical conditions. If your father-in-law has a history of seizures and has one right before your wedding, you would be out of luck on recovering costs associated with postponing.

Also, if you decided to dive into a mud pit in your tuxedo and don’t get your deposit back when you return it… probably not covered.

How Much Does Wedding Insurance Cost?

It really varies. There are plans out there for $100 or less that have deductibles and no additional clauses or liability. If you want liability or no deductibles it could cost you from a few hundred for $10,000 of coverage to an upwards of $1,000 if you have $100,000 of coverage or more.

How is Wedding Insurance Different from Event Insurance?

Wedding insurance is really just one of many variations of event insurance.

If you decide that wedding insurance makes sense for you, search around for “event insurance” in addition to “wedding insurance”. Most event insurance providers have policies that cover weddings, and broadening your search will give you more options for finding the lowest cost.

Do you Need Wedding Insurance?

I can’t answer this question for you, but I’ll give you a few things to chew on.

If you have a $100,000 wedding, it might be a necessary evil to get wedding insurance. The alternative of course, is to not have a $100,000 wedding, or even an “average” $24,000 wedding.

I previously highlighted how I had an awesome, but cheap wedding for only $2,500. I didn’t have any thought about wedding insurance. I didn’t even know what it was or if it even existed at that time. Our wedding was so cheap it would not have mattered. If I could do it, there is no reason you can’t as well.

I also question the likelihood of a complete wedding cancellation due to a lost dress, tuxedo, or ring. If you have dozens or hundreds of guests make the trip to your wedding, are you going to completely cancel everything at the last minute because your ring didn’t make it in on time? If you did, I certainly wouldn’t come back.

Also, if you did decide to postpone due to an unforeseen circumstance, you would typically only lose deposits. I would think that many vendors would not charge you a deposit if you were to reschedule with them. If you’re a skilled negotiator, your odds there are pretty good. And you can always negotiate a lower deposit beforehand.

Keep in mind that your home or auto insurance policies may cover some of the items you are worried about losing. Most home insurance policies will allow you to add specific items to the policy for a very low cost.

Wedding Insurance Discussion:

• Have you bought wedding insurance? Did you end up using it?
• Would you buy wedding insurance? Why or why not?

Related Posts:

• The Cost of Being a Bridesmaid or Groomsman
• Who Should Pay for the First Date?
• The Top 7 Financial Bloopers Young Professionals should Avoid

Wedding Insurance: Do you Need it? is copyrighted by 20somethingfinance.com without consent to republish.

“If you wouldn’t do your job for free, then find a new one.”

I’m not sure who originally came up with this notion, but I’ve heard a number of my colleagues and a number of writers say it recently. Or similarly, they will say:

“If you don’t love what you do, then quit.”

There are idealists. And then there are IDEALISTS,  I suppose.

I’m not sure where this meme came from, but it’s been spreading like wildfire in the workforce.

The ideology goes something like this:

1. We spend a minimum of 8-12+ hours per day doing our jobs.
2. Life is short and precious.
3. If you don’t love what you do, you might as well move on until you find something that you do love.

And when they say “love”, they mean, you love it so much, you’d do it for free.

Novel concept, right?

Now, obviously, there is recognition that in order to survive you need to make an income. I *think* that those who repeat this meme want you to assume that you are financially independent. In other words, money is not an objective (otherwise, who would do a job for free?). That kind of goes back to the older meme:

“What would you do if you didn’t have to worry about money?”

Admittedly, that’s a bit different because we’d all play Mike Tyson’s Punch Out!, watch football, drink beer, and dine out at luxurious restaurants, no? That’s why the newer memes are more focused specifically on careers.

And they sound great, in theory. But there are obviously fears, doubts, and other considerations that one may decide to take into account before dumping their job. For example:

• Is it realistic in this economy to leave a good paying job?
• Is it realistic when you’ve spent years of your life and hundreds of thousands of dollars only to find that you do not like your career?
• Is it realistic when you have a job and so many others are struggling to get one?
• Is it realistic when “the grass is always greener”?
• Is it realistic when you have a family to support?
• Is it realistic when you are tens or hundreds of thousands of dollars in debt?

It always seems to come down to money.

Or maybe money is just the excuse that is preventing us from taking risks and living more fulfilling, satisfied lives.

We can save that discussion for the comments.

For starters, I’m curious to see how many of you are actually loving your jobs so much that you’d do it (within reason) for free. Please fill in some color commentary on what you do if you answered ‘yes’. If you answered ‘no’, what kind of job would you do for free?

Related Posts:

• The Two Paths to Financial Independence
• 70% of Americans want to be Self-Employed
• 55 Marketable Hobbies you can Get Paid for

Would you do your Job if you Didn’t Get Paid for it? (reader poll) is copyrighted by 20somethingfinance.com without consent to republish.

If you use it right, however, it can sure buy you a lot of things that can contribute mightily to the ease of which you can realize happiness.

Placing a value on things that you can buy with the money you earn is a practice that we should all do now and then to help us focus and figure out how we should piece together our budget.

I put together a personal top 10 list of things that money can buy – in ascending order.

I’d strongly encourage you to do the same. It was eye opening for me and it might be to you too.

Here’s my list….

10. Entertainment

As Americans, I think we place a little too much value on being entertained. And I think there’s something negative to be said for our constant feeling like we can’t just relax and be comfortable in a low stimulation state.

That being said, without books, movies, music, and other arts, life just wouldn’t be the same. Does entertainment alone make one happy? Probably not. But it can sure add some zest to life and give us something to look forward to.

9. Travel

Traveling can be a great way to unwind, de-stress, and re-focus. It can allow us to connect to nature and to connect to other cultures, broadening our worldviews. The key with travel is making sure you stop and really take in the experience. Running from one destination to the next to check things off a list can only leave you feeling empty.

8. Education

Surprised education isn’t a little higher on the list? When you take away the earning impact of an education and let it stand on its own merits, it loses a little value. Sure, it could lead you to a more interesting career, but the grass is always greener on the other side. And I can’t recall much happiness or enjoyment that came from cramming for an exam. But without some sort of passion for learning – self taught, on-the-job, or traditional, it’s hard to imagine a rewarding life.

7. A Roof Over your Head

Someone I knew once referred to a house as “four walls”. That stuck with me. I’ve seen people in beautiful homes be absolutely miserable and people in run-down 1 bedroom apartments be wonderfully happy. It’s hard to imagine a happy life, however, if you don’t have a roof over your head that you can call home.

6. Insurance

Insurance is much more than a piece of paper. It can buy you freedom from worry and stress that you suddenly might lose everything you have worked so hard for due to random chance or bad luck. And to me, that’s worth a lot.

5. Pets:

Some of you may deem this one as over-rated. To those people I’d ask you this: “how many people in your life have loved you unconditionally and absolutely cannot stand to have you be away from them?”. Pets come with a price tag. Sometimes a big one.

4. Food/Drink:

Anyone alive today has been able to get by on enough food to survive. But food can be so much more than survival. I’ve written in the past that there are a lot of things that I can sacrifice and do without. Tasty/healthy food & drink is not one of them. I’m not willing to sacrifice quality to save a few bucks. Great food and spirits and the experience that comes with sharing with others can definitely enrich your life and contribute to your happiness.

3. Health:

You need money to eat healthy, afford exercise equipment, gym memberships, health insurance, and proper medication. Your health is definitely one of those things that won’t lead to happiness on its own, but in its absence, life can be absolutely miserable. Money can help prevent that, or at least prolong it.

2. Time:

This one comes with a big caveat. Time is all about what you do with it. There are extremely wealthy people who have been able to afford to dedicate their entire lives to their own self pursuits who are miserable. For those who use it wisely, there can be no other thing that could contribute more to your happiness. Without time, many of the other things on this list would not be possible.

1. Freedom:

This is #1 for me. Without freedom, you have nothing. If you have to give up all of your time, health, relationships, healthy food, travel, experiences and everything else because you don’t have a little bit of freedom from the need to earn money to afford those things, then what do you really have in life?

Discussion:

• What would you add or drop from this list and why?
• What would your top 10 list of things money can buy look like?

Related Posts:

• Can Money Buy Happiness?
• Money & Happiness Poll
• Get Paid to do what you Love

Money Can’t Buy Happiness – But it Can Buy 10 Things that Help you Realize it is copyrighted by 20somethingfinance.com without consent to republish.

Why is it to your benefit to know which part-time jobs have benefits?

Shit happens. Jobs get downsized, you may choose to retire early but don’t want to foot the bill for health care, or you may decide to go back to school.

Industries that Offer Good Part-Time Benefits

To make some broad generalizations, the following industries tend to offer pretty good part-time benefit programs:

• health care
• blue collar (usually unionized)
• army/military
• state/federal/municipal governments
• retail (non food-service)

I’m going to highlight a few national employers to consider. Note that not all health insurance or retirement plans are created equal. Just because you may be eligible for ‘medical insurance’, does not mean you will have a free ride. All of these employers will have slightly different plans that will require varying premium coverage by you. It pays to research extensively beforehand.

That being said, some of the benefits offered by these employers are quite generous and fairly surprising.

Starbucks

Starbucks benefits usually get mentioned in any part-time benefit discussion. And for good reason. Benefits include:

• Medical, dental, and vision plan for you and your dependents.
• A 401K match of 100% on the first 3% or 6% (varies by year).
• Life Insurance.
• Vacation, Holiday, and sick time.
• A pound of coffee per week!
• Discounted stock.

In order to be eligible, you must maintain at least 240 hours per calendar quarter (or about 20 hours per week). Kudos to Starbucks for offering such a great benefits package for part-timers!

Trader Joe’s

Part-time “Crew Members” are eligible for medical, dental and vision coverage after meeting the eligibility requirements. Most Crew Members qualify after a couple of months, according to Trader Joe’s career page.

However, one should be aware that ‘part-time’ can be up to 40 hours per week. I still haven’t seen a sad Trader Joe employee.

Trader Joe’s employees are also paid very well. According to employee surveys at Glassdoor, crew member wages at Trader Joe’s can be up to $19/hour! And CNN reported,

“assistant store managers — can make in the low six figures, and full-time crew members can start in the $40,000 to $60,000 range. But on top of the pay, Trader Joe’s annually contributes 15.4% of employees’ gross income to tax-deferred retirement accounts.”

Wow!

REI

Want to spend a lot of time hiking and biking and less working? With REI, you can. Less than 20 hours will get you a 60% subsidy towards medical insurance for you and your family, which is virtually unheard of. Over 20 hours will earn you a more comprehensive plan.

REI benefits also include:

• 50% off gear (a big one for me).
• Vacation, PTO, and 8 paid holidays.
• A retirement contribution of 5% of earnings and up to an additional 10% depending upon company profitability. Employees are not required to contribute their own pay in order to receive the REI contribution.

Hmm… note to self. Live near an REI in retirement.

Fedex/DHL/UPS

The shipping carriers don’t readily supply full details of their benefits on their website or the qualifications to receive them, but their reputation is well earned.

All three offer medical, dental, vision, and 401K.

UPS, in particular, also offers vacation, stock purchase incentives, and a defined benefit pension.

The great part? They offer this to all employees, not just full-timers.

Note with FedEx that their ground shippers are considered independent contractors and don’t receive company benefits.

Lowe’s

Lowe’s benefits are the same for part-timers as they are full full-timers and you are eligible immediately. Those benefits include:

• health insurance, vision, and dental
• vacation
• 6 paid holidays
• discounted stock
• 401K match up to 6%

You can get some great benefits all while beefing up on useful Bob Vila superpowers. Win-win.

Just wear some good shoes, you’ll be standing on concrete all day long.

Part-Time Jobs with Benefits Discussion:

• What other part-time jobs have great health insurance and other benefits? Share the details!
• Have you stayed on part-time with one of these employers because the benefits were so great?

Related Posts:

• How to Reach Health Insurance Nirvana
• What is an HSA?
• What is a HDHP?

5 Part-Time Jobs with Health Insurance & Benefits is copyrighted by 20somethingfinance.com without consent to republish.

The wisdom shared by her patients in their final moments, and then by Bronnie, are priceless. They can serve as a guide on not how to embrace death, but how to live life while you have the opportunity.

To summarize, here are the 5 most common regrets of the dying, according to Bronnie:

1. “I wish I had the courage to live a life true to myself, not the life others expected of me.”

This was the most common regret people had. And it makes sense. We only live one life and if you’re not living it true to yourself, it seems like a great missed opportunity. This is something that I have slowly been coming to grips with over the years. Still have a long ways to go though…

2. “I wish I didn’t work so hard.”

Bronnie said that she heard this from every male patient she worked with. Today, we are all overworked. If you love what you do, this might not be a regret. But most people do not. And when you’re in those final moments of life looking back, I can imagine that your view of the pursuit of income through work that was not satisfying to you might seem like a misuse of precious time.

I love Bronnie’s follow-up advice: “By simplifying your lifestyle and making conscious choices along the way, it is possible to not need the income that you think you do. And by creating more space in your life, you become happier and more open to new opportunities, ones more suited to your new lifestyle.”

3. “I wish I’d had the courage to express my feelings.”

Suppressing feelings to keep peace often led to bigger problems, including health issues.

4. “I wish I had stayed in touch with my friends.”

In the end, all that matters is love and relationships.

5. “I wish that I had let myself be happier.”

Most realized that happiness was always a choice. And they did not permit themselves to be happy.

Added Thoughts

Why raise this topic at all on a personal finance blog? Because the two biggest regrets that Bronnie mentioned are very closely related to personal finance.

Having the courage to follow your own passions and not placing such an emphasis on income for the sake of income are very closely related and both are tied to the hip with personal finance.

I’ve said it before, but I’ll say it again: the pursuit of money is empty unless it buys you the freedom of time and experiences. A bigger bank account, nicer car, and bigger home mean nothing when you are slaving away 80 hours a week or on your deathbed.

Thanks for the reminder, Bronnie.

Related Posts:

• Finding Happiness Along the Way to Long-term Financial Goals
• Can Money Buy Happiness?
• How to Pull Away from the Rat Race
• 55 Marketable Hobbies you can Get Paid for

The 5 Biggest Dying Regrets is copyrighted by 20somethingfinance.com without consent to republish.

But there’s a new strategy that I just devised that I’m going to try out for a while.

It’s simple, fun, and if carried out with a little discipline, should be amazingly effective. You may want to give it a try too!

I call it the “Spend what you Sell Strategy” (SWYS). Let me explain…

What is the single biggest problem with traditional decluttering strategies?

You keep accumulating new stuff! All organization, selling, trashing, and other decluttering strategies only focus on the outgoing component. Rarely do they also tie in to what you accumulate. The ‘SWYS’ strategy does just that.

Here’s how it works:

1. Sell stuff you no longer need and want to get rid of.
2. Record what you sell and how much you sold it for in a spreadsheet. Sum it all up.
3. Simultaneously keep a list of things you want to buy. Don’t include food/entertainment/utilities. Just material possessions.
4. Create a third list of stuff you actually buy. Your sell list minus your bought list equals your balance to purchase new things.
5. This is the key component: Only spend the equivalent amount that you have sold. Don’t go over that amount.

In Action

I recently tried this strategy out last weekend. I realized I had a few huge items just sitting around that we weren’t using – a guest bed that only gets used a few times a year, a couch in the basement, a dresser, a fake tree, a luggage set, etc.

At the same time, we wanted to turn our guest room into a more functional room and thought a futon, storage unit, and rug would do the trick.

I was able to make $335 by selling all of the used possessions on Craigslist and the new items cost $320. I got rid of clutter, made my house more functional and enjoyable, and still came out ahead financially. Win, win, win!

Why the SWYS Method is so Effective

Outside of collectible rarities, used material possessions rarely accumulate in value. This is a key component to this system being so effective. The SWYS strategy simultaneously has a few great benefits:

1. It declutters: It forces you to sell off stuff and declutter. You’ll eventually need to buy some new things at some point.
2. It is frugal: It’s incredibly frugal! You’re essentially creating a bank account from stuff you already own.
3. It encourages mindfulness: You’re forced to really evaluate what you are buying (you can only sell off so much stuff). It also creates a ‘holding period’ between adding an item to the list and actually buying it. This will really cut down your impulse purchases.
4. It’s very efficient: Because new stuff costs more than used, you’re eventually going to hit a point where you’ve sold off everything you no longer need. Wouldn’t that be a great problem to have?
5. It’s very fun and motivating: It’s kind of like running a mini business!
6. It’s accountable: You record and keep track of everything you are buying and selling. This allows you to see progress (selling) and your consumption habits (buying).
7. It’s sustainable: This strategy motivates you to find a buyer who will use what you are selling versus simply tossing it in the trash and sending it to a landfill.

To Help you Get Started

Here is replica of the Google Doc spreadsheet that I am using to keep track of everything. You can log in to your Google account to make a copy, or you can download as an excel sheet.

Give it a try and let me know what you think!

Spend what you Sell Strategy Discussion:

• Have you tried anything like this?
• What decluttering strategies have worked for you?

Related Posts:

• Why Getting Rid of Clutter is Hard
• Craigslist Cars
• 3 Simple Strategies for Getting Rid of Clutter

The Spend What you Sell Strategy Gets Rid of Clutter & Makes you Money is copyrighted by 20somethingfinance.com without consent to republish.

Definition of Retirement: sit around the home, read the paper, play some golf, drive around town in a Cadillac, catch the early bird special at the local diner, watch some TV, go to bed, and do it all over the next day. Mix in an occasional RV or European vacation to take some photos and all was right in the world.

Retirees had a simple financial formula for achieving that dream:

1. Hit age 65.
2. Stop Working.
3. Collect your pension check, replacing the majority of your annual income before retirement.
4. Collect your Social Security benefits to fill in the rest.
5. Rely on your retiree health benefits from your employer.
6. Collect your medicare benefits to fill in the rest.

Those days are all but over. Why?

1. Pensions are dead – our generation won’t get them, and if you are lucky enough to get one, good luck keeping most of it.
2. Most individual investors fail miserably at investing. With 401K’s, any hopes we have of retiring are dependent on a.) you becoming a good, patient investor, b.) the market performing well (just look at the last decade’s miniscule returns if you aren’t scared yet).
3. Social security benefits will not deliver what they have in the past (Social Security has historically replaced 40% of income). That is, if one of our political parties does not successfully push through the privatization of Social Security first, which would result in an impact similar to shifting pensions to 401K’s – that is, placing more burden on individual investors to get it right.
4. Retiree health benefits are about as rare as pensions will be for our generation – almost non-existent.
5. For better or worse, medicare as it stands is under attack by Republicans. According to the non-partisan Congressional Budget Office, Ryan’s medicare altering proposal would shift more and more burden to individual retirees as it encourages a move to individuals buying health insurance through the private sector and is tied to general inflation vs. medical inflation. Whether Ryan’s plan passes or not, the U.S. has a budget problem that is going to encourage shifting more and more burden to retirees over the years. We can’t escape that.

Traditional Retirement is Dead

Scary stuff. If you don’t start hoarding a significant amount of your income (50%+), average double digit returns, and stay in impeccable health… retirement, in the traditional sense, is all but dead to you.

The system itself was designed when we were primarily a blue collar society and our bodies could not take working much beyond age 65. As we have shifted more and more towards and information based economy, perhaps we simply don’t need the 65 and quit formula. We may not have a choice.

You simply won’t have have the same entitlement programs to fall back on and private sector employers won’t foot your bill either. For better or worse, IT’S ALL ON YOU.

I’m not taking a political stance here. I’m trying to warn you that you will really have to look out for yourself starting yesterday and get a little bit lucky if you want to have a traditional retirement in today’s political and economic climate.

Is that such a bad thing?

The New Retirement

Perhaps my views will change as I age. I just can’t imagine a life centered around doing nothing.

It sounds like preparing for death.

When I’m 65, 70, and beyond, I want to live it up!

I can’t imagine NOT working in some capacity. Sure, at the age of 70, I don’t want to be slaving away in a factory line somewhere or on a computer (I almost said ‘pushing paper’) for 40 hours a week, but I do want to pursue creative interests, do meaningful work, and engage with others.

And if I have to take a part-time job to grab partial health insurance, so be it.

I think this will be the norm for our generation. And it might not be all that bad.

Shifting Our Mindset About Retirement

Retirement is all about situation and mindset.

I view it as a gradual or potentially even sudden move from following monetary pursuits to following personal objectives.

In other words, achieving enough financial freedom to do what you want in life.

There may be some peaks and valleys along the way that force you to seek a meaningless job part-time that offers health insurance or force you to take a full-time job in order to replace lost retirement savings.

Maybe retirement for you is becoming debt free and quitting your corporate 9-to-5 at age 40, working part-time at a Starbucks for health insurance, and gaining the bulk of your income from passion-related multiple income streams.

Does that sound so bad?

The New Retirement Formula

Your mileage may vary, but I think the new retirement will look something like this:

1. Become debt free.
2. Pursue interests that result in income.
3. Supplement health insurance through income or part-time work with health benefits.
4. Enjoy the nice added benefit of Social Security, Medicare, or other entitlements, but certainly don’t count on them.

Notice the lack of retirement age or ‘stop working’ from the equation.

What Steps Can you Take to Prepare for the New Retirement?

Maybe I’m wrong, but I just don’t see our society moving to a heavier benefit entitlement system and our current system isn’t even sufficient for our generation to realize a traditional retirement. As a result, the traditional retirement is dead. In order to be prepared for and embrace that:

1. Stop worrying, it only causes inaction and a victim mentality. Start acting.
2. Attack debt with a vengeance. The sooner you can become debt free, the sooner you will be able to achieve the new retirement.
3. We’ve lived like many of our parents who have a cushy pension and who will get full Social Security payouts. We need to stop that. Keep your living expenses low. Consider downgrading or selling your vehicles and buying a tiny home instead of a larger one.
4. Save like you never have before, particularly outside of your retirement accounts. Still put significant funds into your retirement accounts, but realize that those accounts are designed for the traditional retirement model. If you withdraw early, you will be penalized. The new retirement will require you to have a larger savings base outside of retirement accounts that you can withdraw from when needed.
5. Start figuring out what your marketable hobbies and creative interests are and start pursuing them. Whether you achieve the new retirement or not, you should consider this.
6. Become multi-skilled so that you can be flexible and recession proof.

Whether you believe that traditional retirement is dead or not, these actions will only improve your financial standing and freedom to pursue your interests in life.

Traditional & New Retirement Discussion:

• Which retirement – old or new – sounds more appealing to you?
• Do you believe that the traditional retirement system is dead?
• What is your new retirement vision?
• How are you planning on preparing for the new retirement?

Traditional Retirement is DEAD! Now What? is copyrighted by 20somethingfinance.com without consent to republish.

15 readers shared their stories in the comments and I really enjoyed hearing what others were doing. I am sure you will too, so I decided to provide some highlights and boil down each story into a ‘strategy-type’.

Hopefully it gets your creative juices flowing, as it did mine.

The “Best of Both Worlds” Strategy:

Rita quit her corporate job, but maintained much of the same clientelle on her own. Her income was roughly the same on much less hours. Rita didn’t mention this, but this is also a great way to diversify employers (instead of having one employer, she has a number of clients, distributing her risk of getting ‘laid off’).

With all of her new found free time, she started up a dog grooming and walking business because she loves dogs.

More freedom, time, passion, and diversification. What’s not to love about that?

The “Truly Diversified” Strategy:

Ginger, although not employed, has developed a number of income streams with her husband, including:

1. Income from a rental
2. Husband’s job
3. Going back to school for future career
4. Behavioral research surveys at a local university (I didn’t even know this existed)
5. Blogging

I like it. Income from an employer, a side business (rental), income that can be earned in free time (surveys & blog), and planning for the future. Very well thought out and very diversified. Very inspiring, Ginger!

The “Concentrated Focus Diversification” Strategy

’20 and engaged’ diversified her income, while at the same time having a concentrated focus on web publishing. She has earned income through:

1. Website development and design
2. Affiliate income
3. Blogging for other websites

Sticking with what you know and getting very good at it while diversifying at the same time can work very well.

The “Part-Time Freedom” Strategy

Vanessa brought up a rather brilliant strategy that I had not thought of before. While she is getting her bachelor’s degree, she holds 3 different well paying part-time jobs:

1. At a Brinks-type company doing cash counting
2. As a contract paralegal (works her own hours, from home)
3. At her university filling printers with paper

Since they are all part-time she has flexibility with her schedule. She’s also building experience for her resume (essential these days for new grads). I don’t know for sure, but I’m guessing her student debt will be significantly less than most, if existent at all. The key to making this strategy work is to find jobs where you set the schedule.

The “Traditional” Strategy

Probably the most common tried and true strategy out there, Amanda is adding multiple income streams to her full-time income as an engineer. She has also started tutoring high school students in math because she loves math and teaching. On top of that she is earning income through dividend stocks.

There’s a reason why this strategy works time and time again – you have the security of a full-time job while further boosting income through doing what you love and passively through investing.

What’s your Multiple Income Story?

Thanks to all of the readers who shared their great stories!

Are there any other multiple income strategies that you can think of or you are already executing that you can share?

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5 Different Multiple Income Stream Strategies Shared by Readers is copyrighted by 20somethingfinance.com without consent to republish.

Having used both push reel mowers and gasoline powered mowers, the two offer completely different experiences. In fact, I just upgraded my reel mower to a Fiskars Momentum.

I can tell you, without hesitation, I prefer the push reel mower. Here are 5 great benefits that push reel mowers have over gas powered mowers (as well as some caveats to be aware of if you make the switch).

1. Push Reel Mowers are Cheaper than Gas Powered

Push reel mowers range in price from $80 to $200. Most are below $125. Gas powered mowers are generally $200+ and some of the more advanced push models can be as pricey as $500.

But initial price is not where the costs end. With gasoline over $4 a gallon, you can expect to pay a significant amount every year for fuel. You will also have to pay for oil to change the oil.

Not only that, but gas-powered mowers usually don’t last as long as reel mowers. Push reel are cheap due to their simplicity. A lot can go wrong with a gas-powered mower, and once the engine goes, you need to replace it. The only maintenance cost with a push reel is sharpening it every few years, which you can often times do at home with a $15 kit. There is not much that can go wrong with them.

2. Push Reel Mowers are MUCH More Environmentally Friendly

Think of the positive environmental impact that would result in everyone driving a bike to and from work vs. driving a Hummer. Everyone switching from a gas-powered mower to a push reel would have no less of an impact.

According to the EPA, gas-powered lawn mowers produce equivalent pollution in one hour of use as the average car does in 200 miles. That’s pretty crazy when you think about it. That’s about 3 times as much pollution as a car driving on the highway for 3 hours. All from that one little engine.

On top of that, the EPA estimates that 17 million gallons of fuel are spilled each year while refueling lawn equipment. That’s more than all the oil spilled by the Exxon Valdez. Not only does this result in groundwater contamination, but spilled fuel evaporates into the air and volatile organic compounds produce smog-forming ozone when combined with heat and sunlight.

3. Reel Mowers Require Less Maintenance than a Gas Mower

I alluded to maintenance with price, but there’s also a time saving component that goes into it. No driving to the gas station and back when you run out of gas. No oil changes, and no spark plug changing. You may have to sharpen the blades every few years with a push reel, but you have to sharpen or change blades on gas mowers as well.

Push reel mowers are simpler and easier to maintain.

They also fit in a garage or shed much more easily than a gas powered mower.

4. Reel Mowers Offer Peace and Quiet

With a push reel mower you can mow whenever you want without disturbing the neighbors. That includes morning or night when it’s typically cooler and healthier for you and the grass.

You can hear birds singing and neighbors when they walk by to say hi. And you don’t feel like that tingling in your arms like they have just been working a jackhammer.

Using a push reel mower is a pleasant and calming experience. Just what outdoor gardening should be.

5. The Cool Factor

There is not a neighbor that has walked by my house who uses a gas-powered mower that doesn’t stop to ask me questions with curiosity. First, they notice how well the mower cuts. Then they appreciate how quiet and peaceful the experience looks in comparison to a gas mower experience. Then they realize how much healthier it is for them and their lawn.

Somewhere along the way, Americans were convinced that gas-powered mowers were superior to push reel. Maybe they were at one point. But push reel mowers are a lot more advanced these days. It only takes a few trendsetters in a neighborhood to make the whole neighborhood realize it – cutting down the air, ground, and noise pollution for everyone. Why not be the trendsetter?

Reel Mower Caveats

I’ve painted a pretty rosy picture here, but there are a few things you should be aware of, if you are going to make the move to a push reel mower.

- Find a mower that cuts up to 3 inches or more. I just recently decided to move from a Brill push reel mower to the new Fiskars reel mower (seen to the right), which allows you to cut up to 4 inches. The Brill, and many other reel mowers only let you cut up to 2 inches max. I like to grow my grass longer so that I don’t have to water it as much. It’s much healthier for your lawn.

- You can’t let the grass get too long, particularly if yours cuts up to a short max length. Otherwise it becomes difficult to mow. I’ve also heard that some weeds and very hardy grass varieties are very difficult to mow with a push reel. It’s something to be aware of. You may want to test out a neighbors push reel on your grass before buying (if their blades are sharp).

- Read reviews pretty thoroughly. Not all reel mowers are made made the same. Scotts, American, and Fiskars have the best reviews.

- You may have to go over some areas twice. Some people tout this as a big negative with push reels. I don’t think it is at all. We’ve probably all pushed a gas-powered mower at one time or another. It’s a hellish experience. Especially if you have hills. Pushing a 150 lb. beast up a 45 degree incline or even on flat ground is not easy. So from an energy exertion standpoint, you’re probably break even. As long as you keep your blades sharp, that is (very important).

Push Reel vs. Gas Mower Discussion:

• Have you made the move to a push reel mower?
• What model did you purchase and what where your thoughts on the experience?
• Why are you sticking with a gas powered mower?

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5 Reasons to Switch to a Reel Mower is copyrighted by 20somethingfinance.com without consent to republish.

TLC has launched a full 12-episode series, Extreme Couponing, based on the success of a premiere feature they ran on extreme coupon tactics back in December – which had an amazing 2.1 million viewers tune in to show their interest in the practice.

Some of the video content shows extreme couponers raking in $640 worth of goods for $6.43 and even $870 for FREE. Amazing!

The Benefits of Extreme Couponing

There are no doubt, benefits that can be achieved from extreme coupon tactics. To get $870 worth of product for absolutely nothing speaks for itself.

It gives those who don’t have much to do with their time an outlet for creativity. There is a definite art-form in getting that much product for free. It takes planning, skill, hard work, strategy, and some luck.

And I get the whole ‘beating the system’ appeal to extreme couponing as well.

But there are some significant costs to extreme couponing that would lead to me never doing it, which I’d like to highlight.

Why I’m Not a Fan of Extreme Couponing

I’m sorry, but I do not like extreme couponing, and I have some reasons why:

• Zero Societal Contribution: More than anything else, I do not see the societal value in extreme couponing. Those who spend 6-8 hours per day trying to reap rewards at the expense of others, could be contributing in a much more positive way to society. The savings that they enjoy are subsidized by a net increase in costs to others. That free stuff has to come from somewhere. Instead of spending 6-8 hours a day working very hard to get free things from others, why not spend that time making money doing something positive in the world instead of being a leech?
• Time: In order to enjoy the types of savings extreme couponers do, you have to spend a hell of a lot of time at it. People have quit (or refused to find) jobs so that they can spend their time doing this. It takes a lot of effort and work. It’s not work that I’d personally want to spend my time on.
• Questionable Ethics: In order to be one of the pros, you have to do some questionable things. One video depicted a woman dumpster diving for coupon inserts and I’ve heard another tactic is to steal inserts from neighbors Sunday paper’s. And even if you attain your coupons in ethical ways you have to be comfortable in knowing that you’re completely taking advantage of the brands and retailers.
• Crappy Product: One episode depicted a man who gave away all the free product he received to charity. That’s cool. But it’s also a rarity. Others simply stockpile and hoard product in their basements or garages. Scanning the stockpiled shelves of these extreme couponers, I noticed something. Everything on those shelves is mainstream name brand product: Coke, Pepsi, Crest, Tide, Ragu, etc. It’s stuff that I personally don’t buy and would not use. And if you were to use all that product and try to live off of it, you’d probably die of a heart attack or cancer in a few years. I think I’ll take a pass on that.
• Addiction: In order to be really good at extreme couponing, you almost have to be addicted to it. And unlike an athletic hobby or cooking or something productive, I can’t see it as being a healthy addiction.

What is your Take on Extreme Couponing?

• You know how I feel about it, but how do you feel? Do you approve or like these extreme strategies?
• Have you ever tried extreme couponing? What is the most product you’ve received for the lowest price? What was the time investment/strategy needed to get that?
• Take the poll on whether you are in favor of extreme couponing or not!

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Extreme Couponing: Is it Worth it? is copyrighted by 20somethingfinance.com without consent to republish.