• How to save money at the grocery store

    The cost of everyday staples is going up for the first time since 2008, and you’re going to feel the pain at the grocery store. Milk prices are up 10 percent, sugar’s up 9 percent and chuck roast is up 12 percent, for a few examples. TODAY financial editor Jean Chatzky talks about why prices are rising and how to save money.

    (Bonus: Check out around the 2-minute mark, when Matt totally cracks up over a discussion of “package size.” Yes, we are very mature here at TODAY.)

    Chatzky’s top money-saving tips:
    -Pay attention to prices now, so you know what a “good” price is. (This is wise advice if you, like me, tend to do your grocery shopping on auto-pilot.)
    -Pay attention to packaging – retailers may shrink size while keeping the same price.
    -Buy store brands -- seriously, a lot of them are fantastic.
    -Stock up on sale items.
    -If fresh fruits and vegetables are busting your budget, try going with frozen.

    You can find more good shopping tips and great coupons at the ever-frugal Deal Seeking Mom.

    Have you noticed rising food prices? What are your best tips for saving money at the grocery store? Share your thoughts in the comments.

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  • Talking with your kids about money

    When exactly is the right time to start talking to your children about financial responsibility? It’s a complicated topic that parents may put off discussing with their kids until later than they should. Being that many adults don’t even fully grasp the abstract complexities of managing their finances, the notion of imparting even the basics to their children seems like a daunting task. Luckily, TODAY’s financial editor Jean Chatzky recently published a book on that very subject, “Not Your Parents’ Money Book,” and sat down this morning with Matt Lauer to discuss how to communicate about practical money intricacies with your kids.

    Have you had the money talk with your kids? Do you have a child sorely in need of a financial tutorial? Watch the video below and get in touch with us over e-mail, and Jean Chatzky may reach out to work with your child.

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  • Strong enough for a man, but priced for a woman

    The CFO of the American home has had enough. She works hard at a job where she earns 20 percent less, on average, than her male counterpart. She juggles family, fitness, friends and her relationship — all without skipping a beat. But learning that companies now mark up products branded to women and mothers. Well, that is just one pill this CFO isn’t willing to swallow.

    According to a study by Consumer Reports, women are paying more for comparable products that offer female branding. Samples from the study compared the price of products like shampoo and pain relievers and all were almost identical, aside from their marketing. Each product was targeted to either a female or male consumer, and revealed that brands marketed to females were consistently more expensive.

    Here is how it all broke down:

    Shaving Cream
    Men's Barbasol $1.69
    Girl's Pure Silk $2.49

    Deodorant
    Men's Degree Deodorant 2.7 oz $3.59
    Degree for Woman 2.6 $3.59

    Pain Reliever
    Excedrin regular brand $5.99 ( 20 pills)
    Excedrin Menstrual Complete $6.49 (20 pills)

    Eye Cream
    Men's Neutrogena Eye Reliever Cream $9.99
    Woman's Continuous Hydration Cream $14.99

    Body Wash
    Nivea body wash, Cool $5.49 (16.9 oz)
    Nivea Touch of Happiness $7.49(16.9 oz)

    Razor Blades
    Schick Quattro for men (4-pack) $10.49
    Schick Quattro for Women (4-pack) $10.99

    Unfortunately for marketers, women hold the power in the marketplace and we're resourceful enough to even out the bottom line.


    A post from the Consumer Reports blog noted, “I use M Lotion for Men, a moisturizer made by Clinique. It is in fact Clinique's Dramatically Different, a widely known and used women's moisturizer. It costs a little more than half of what the women's one does. A clerk told me once — quite matter of factly — that it is was priced that way because Clinique knew that men were not going to spend as much on personal care products as women were accustomed to doing.”

    Is this outrageous? Absolutely. Are we suggesting that smelling like musk and pine needles is a small price to pay in order to save some cash — no. Buying men’s razor blades and shaving cream might save you a few bucks, and who’s really going to know the difference. But we're not completely convinced that the trade off of smelling like a guy's armpit is worth the savings. So, here are some Smart Cookie approved suggestions to help you save on your family's necessities.

    Save on sunscreen
    Sun protection is a must for most moms. But our search found that you can buy generic, store brand sunscreen that meets all the recommended guidelines for 20 percent less than sunscreens branded for kids. Look for SPF of 30-50 or higher, broad spectrum UVA and UVB protection, which is usually provided by a combination of sunscreen ingredients, like avobenzone, and/or a sun block, such as zinc oxide and titanium dioxide, that it is water resistant.

    Baby products
    While their may be no identical alternative for items like diapers and formula. There are efficient ways to save on other baby necessities. Instead of buying baby crib sheets, which cost more for a smaller product with a shorter lifespan, buy single bed sheets and cut them in half. They fit perfectly in a crib. Stores like IKEA charge $8 for colorful prints. A seamstress will charge $5 to smooth out the cut end of the sheet. Total cost $13. Patterned baby sheets can cost up to $40.

    Go bulk on everyday items
    Get your girls together and plan a group trip to a wholesale store like Sam’s Club or Cosco. Not everyone has room for eight sticks of deodorant or a vat of conditioner. But buying a bulk pack and splitting can save you 75 percent.

    Swap it out
    It’s a new year and time to clean out those bathroom cupboards. Gather all the creams, lotions and potions that you've never used or used once and decided it wasn't for you, and get a group together to do a swap. We have made a habit of this for a couple of years and as a group of five, on average find $25 each in drugstore money that we've saved by stocking up on our friend's goodies, or finding products hiding under our own sinks that we forgot we had.

    For additional ways to spend less and make more, pick up a copy of "Smart Cookies To Making More Dough" or visit www.smartcookies.com

    Related content:

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  • Suze Orman: Help your family by putting yourself first

    By personal finance expert and author Suze Orman

    Now that I have your attention, I have to tell you that the one move that will build more financial security than any other, has nothing to do with money. At least not directly.

    If you want to make money and make more of the money you have, my advice is to take better care of yourself. I’ll leave the physical shape-up advice to my friend Jillian Michaels and the gang at "The Biggest Loser." What I want to talk about is how your mindset — your perspective on who you are (and what you want for yourself) — is the driving force in building financial security.

    You must come first
    The problem — and yes, it is a problem — is that so many women can’t figure out how to make their needs and desires a priority in their life. You think of everyone else before you think of yourself. It is an especially vexing problem for the moms:

    • You can’t imagine saying no when your child asks for the latest video game, or must-have designer jeans, even though you’ll end up having to charge it on a credit card you won’t be able to pay off at the end of the month.
    • You can’t imagine not helping your child go to college, so you raid the retirement fund (or save less in the first place) so you have more money to help pay for school.
    • Your adult son or daughter is having trouble paying the bills during this rough economy so you help with their mortgage even though it means raiding your own emergency savings.

    Does that make you the best, most loving and caring parent on the face of the earth? I don’t think so. Let me tell you why: The way you are showing your love actually hurts your kid and hurts you.

    When you pretend you can afford things you can’t, you are setting a horrible example for your kids. They will grow up and mimic your behavior. Is your dream for your child that they have credit card debt? I didn’t think so.

    When you put any other goal ahead of retirement you are setting up the entire family for trouble. If you pour all your money into paying for college, what exactly are you going to retire on? What’s likely is that you’ll end up as a financial burden for your grown kids when you are older because you can’t support yourself. Look, I wish it was different, but most of you are entirely on your own to save for retirement — Social Security typically replaces just a small percentage of your work income, and old-fashioned pensions are rare outside of the public sector. Your retirement is dependent on what you can manage to save in your 401(k) and IRA. That’s your priority, do you hear me? Don’t worry, you and the kids can take advantage of federal college loans to help pay for school.

    When the cost of “helping” a child throws your own finances out of whack, how is that possibly the right thing to do. I realize it is a gut-wrenching time for many families dealing with layoffs and the possibility of losing their homes. But the sad truth is that if you help out for a month or two or three, and then they still can’t make ends meet, they will still lose the house, and now your finances are more vulnerable because of the money you gave them. All I ask is that you all think about whether your temporary help will in fact solve their problem. Might a better solution be that they move in with you; it helps them through this tough time without hurting your security.

    The best way to truly love and nurture your kids is to nurture yourself.

    Give to yourself as much as you give to others
    I know this may take a little getting used to, but remember, it is always better to do what is right, rather than what is simply easy. If you love your family, if you want them to be everything they can be, you will filter each decision, each action through this vital test: Will it hurt me or help me build my financial security? Is it kind and necessary for me, not just others? When you honor yourself this way you are taking control of your financial destiny. And your power is what will allow you to help and care for others in your life.


    Visit msnbc.com for breaking news, world news, and news about the economy

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  • Will you scale back this holiday season?

    Live Poll

    Will you be cutting back this holiday season?

    View Results
    • 72684
      Yes
      83%
    • 72685
      No
      17%

    VoteTotal Votes: 46

    With all the economic woes, many parents will have to cut back on holiday spending this season. But how do you prepare your children for being frugal without ruining their fun? What will you do to keep your kids’ holiday spirit without breaking the bank? Share your tips, and we may feature your advice on an upcoming segment of TODAY.

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  • How much does the tooth fairy pay in your home?

    Many of us remember waking up with excitement to some change under the pillow, making the loss of that front tooth and the accompanying lisp all worth it. Does the tooth fairy visit your kids? Has the payment increased since you were a child?

    Results with 6 short comments
    Total of 403 votes - click on the "Display Comments" bar below to sort comments

    9.4%
    Less than $1
    38 votes
    74.7%
    $1 to $5
    301 votes
    9.9%
    $5 to $10
    40 votes
    2%
    More than $10
    8 votes
    4%
    The tooth fairy doesn't come to my home.
    16 votes
    Display Comments:
    $1 to $5

    I used to give my daughter $1 for each tooth that she lost. I probably only got .25.

      #1
       - jamib
       - 12:09 pm EDT on Thu Oct 29, 2009
      $1 to $5

      Because of the recession, our tooth fairy has a backlog of payments for several teeth over a period of a couple of years.

        #2
         - Buffy-851618
         - 1:59 pm EDT on Thu Oct 29, 2009
        $1 to $5

        The payment has increased since I was a kid but so did everything else.

          #3
           - Melissa Lockner
           - 2:40 pm EDT on Thu Oct 29, 2009
          $1 to $5

          My kids are too young to loose their teeth right now. But I will probably give them a dollar.

            #4
             - Colleen Scott
             - 3:12 pm EDT on Thu Oct 29, 2009
            $1 to $5

            My oldest son just got his 1st loose tooth. He was scared at 1st but when i told him he'd get $ when it came out he was happy.

              #5
               - AliannaS.
               - 4:43 pm EDT on Thu Oct 29, 2009
              $1 to $5

              My hubs is cheap, so $2 but, I try to leave $5

                #6
                 - GourmetChick
                 - 4:42 pm EST on Sun Nov 1, 2009

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