Month: March 2017

Kiplinger’s 70 Ways to Build Wealth

The April 2017 issue of Kiplinger’s Personal Finance magazine recently arrived. It is a special one indeed: celebrating the 70th anniversary of a venerable publication. To commemorate this occasion, the lead article is 70 Ways to Build Wealth. Definitely a worthwhile read for the Frugal and Wise. (Check for the issue at your local library.)

I am pleased to note that, of the 70 actions listed in the magazine, I have, to date, mentioned at least 19 of them on Frugal, Wealthy and Wise. Refer back to Twenty-five to Thrive, 31 Essential, Frugal and Wise Actions and Take These Five Actions Before Year-End.

I certainly cannot claim such ideas as original but neither did I merely copy them from other sources. Any number of fundamental, financial actions can lead to building wealth and living better on less. But there is the satisfaction in knowing what I mention on Frugal, Wealthy and Wise is also being espoused by such a prominent source as Kiplinger’s.

I have been reading Kiplinger’s Personal Finance for at least two decades. It has been influential in my journey towards being a savvy consumer, a shrewd manager of family finances and a builder of wealth. (Kiplinger’s Personal Finance and The Economist are the only two magazines I read.) The introductory rate for a year’s subscription is $15 or less – worth checking out; see if it earns its keep for you.

Words from the Chief
The 70 Ways to Build Wealth article contains 10 saying from Knight Kiplinger, Editor in Chief (page 28). These sayings are comparable to words of wisdom from Warren Buffet, Jack Bogel – or even King Solomon in Proverbs.

1) Wealth creation isn’t a matter of what you earn. It’s how much you save.

2) Your biggest barrier to becoming rich is living like you’re rich before you are.

3) Pay yourself first.

4) No one ever got into trouble by borrowing too little.

5) Conspicuous consumption will make you inconspicuously poor.

6) The key to stock market success isn’t your timing in the market. It’s your time in the market – the longer the better.

7) Diversify, because every asset has its day in the sun – and its day in the doghouse.

8) Keep a cool head when others are losing theirs.

9) Money can’t buy happiness but it can make unhappiness easier to bear.

10) Sharing your wealth with others is more fun than spending it on yourself.

Cheers, Paul

© 2017 Paul J Reimold

Proverb of the Day #84

As goods increase, so do those who consume them. And what benefit are they to the owners except to feast their eyes on them?    Ecclesiastes 5:11

Photo credit: KOREphotos via Foter.com / CC BY-NC-SA
New International Version (NIV)
Holy Bible, New International Version®, NIV® Copyright ©1973, 1978, 1984, 2011 by Biblica, Inc.® Used by permission. All rights reserved worldwide


Proverb of the Day #83

Whoever loves money never has enough; whoever loves wealth is never satisfied with their income. This too is meaningless.   Ecclesiastes 5:10

Photo credit: KOREphotos via Foter.com / CC BY-NC-SA
New International Version (NIV)
Holy Bible, New International Version®, NIV® Copyright ©1973, 1978, 1984, 2011 by Biblica, Inc.® Used by permission. All rights reserved worldwide

Proverb of the Day #82

Two are better than one because they have a good return for their labor. For if either of them falls, the one will lift up his companion. But woe to the one who falls when there is not another to lift him up. Ecclesiastes 4:9-10

Photo credit: KOREphotos via Foter.com / CC BY-NC-SA
New International Version (NIV)
Holy Bible, New International Version®, NIV® Copyright ©1973, 1978, 1984, 2011 by Biblica, Inc.® Used by permission. All rights reserved worldwide

The (not so) Ubiquitous Bed, Bath and Beyond Coupons

Getting those 20% discounts at Bed, Bath and Beyond may not last forever.

For as long as most of us can remember, retailer Bed, Bath and Beyond (BB&B) has been plying us with coupons. The most common is the 20% off a single item. But there are also ones for $5 off purchases of $15 or more and $10 off purchases of $30 or more.

Here are some facts and recommendations for utilizing those (formerly) ubiquitous coupons. And making the most of your dollars spent at BB&B:

  • Printed coupons (from newspapers and mailings) have expiration dates. But the expiration dates are largely ignored. I’ve had the local BB&B store accept coupons that expired 10 years ago! Don’t throw out BB&B coupons just because they expired!
  • More than one 20% off coupon can be used at a time; example: if you are purchasing 5 items and have 5 – 20% off coupons, you get 20% off each item, all in a single transaction.
  • Forgot your coupon(s)? You can return later with a receipt and get a refund for the difference.
  • Keep in mind that emailed coupons may be subject to the expiration date.
  • Select the coupon that gives you the most savings. The table below works for purchasing a single item. For multiple items, figure out which combination of coupons saves the most.
Under $15.00 20% Off
$15.00 – $18.75 $5.00 Off
$18.76 – $30.00 20% Off
$30.00 – $37.50 $10 Off
More than $37.50 20% Off
  • Some brands are not eligible for discounts: Wusthof knives and Waterford crystal, for instance.
  • Just because you’re getting 20% off doesn’t mean you’re getting the best deal. Price similar items at Target, Walmat, Boscov’s or Macy’s.
  • Don’t let a coupon ‘burn a hole in your pocket’. In other words, don’t feel compelled to buy something, anything just because you have a coupon.
  • If not using a coupon on some of the items you are purchasing, make sure the prices are in line with other retailers.
  • If you return an item purchased with a coupon, you will be refunded the net cost you paid but will not get to reuse the coupon.
  • Use your BB&B coupons judiciously, i.e. don’t use up your supply purchasing a bunch of $4.00 items. (see next point)
  • The last few years, the supply of BB&B coupons has been scaled WAY BACK. Traditionally they arrived via mail or in the Sunday newspaper. In late 2016, there was even talk that BB&B would eliminate coupons altogether! Apparently, the coupons have been too Keep track of the ones you’ve got!
  • Don’t have any BB&B coupons laying around? Sign up for email and get a one-time 20% off online or in-store.

Do you have a Bed, Bath and Beyond shopping experience to share — please post or send me an email. Meanwhile: be frugal; be wise.

Cheers, Paul

P.S. I tallied our collection of BB&B coupons accumulated over the years: 34 – 20% off, 19 – $5 off, 4 – $10 off. We should be OK for a while.

© 2017 Paul J Reimold