Student Loan Grace Period Ending? What to Do!

This article was reposted from www.dailymuse.com 

If you graduated this spring and had any student loans, then you’re likely facing the end of your grace period about 10 days from now. May and June graduates, you’re looking at the end of this month or December.

In any case, this six-month period following graduation during which you don’t need to post payments on the majority of federal and private loans is coming to a close—and quick.

Given the rising cost of education and economic fluctuations, many new grads have hefty loan packages, translating into hundreds or even thousands of dollars of payments each month. (While the average debt held by U.S. borrowers hovers around $27,000, one out of eight borrowers has over $50,000 to pay off.)

Hopefully, you’ve already put a sound financial plan in place to cope with the costs—but we know the first months after graduation are a whirlwind. With such sizable bills winging their way towards your account, what can you do to get on top of things now?

To help out, we’ve outlined five steps you can take—in just hours—so that you can build your monthly loan payments into your budget and be ready to go by next week or next month.

1. Know Your Loans

For starters, it’s important to become completely aware of what loans you’ll soon be paying, to which parties, when your payments will begin, and how much they’ll run you.

If you have federal loans, a great starting place is the Department of Education’s National Student Loan Data System (NSLDS). Log on, and you’ll find detailed information on all of your federal loans consolidated in one place. For any private loans you’ve taken on, you’ll want to contact your school’s financial aid office or check out a copy of your annual credit report (as well as credit information available through sites like Credit Karma)—both should be able to show you a list of your lenders.

Once you have all of this info, make sure you understand exactly what you’ll need to be paying—and when. If you have any questions on the repayment process, now’s the time to ask!

2. Review Your Daily Spending

Whether you’re still interviewing or you’re happily installed in your dream job, you should be preparing for a significant uptick in your expenses once your loans kick in.

So, pull out your personal budget, and identify a few nonessential spending categories you can scale back on to accommodate your loan costs. (Don’t have one? There’s no time like the present to create it.) Beyond the usual suspects like takeout dinners and wardrobe splurges, consider adjustments to other aspects of your spending, like downgrading your gym membership or cable package for several months or increasing your time on public transit.

(Also keep in mind that your short-term spending is likely to spike due to the holidays, making it more important than ever to set firm spending rules now!)

3. Build Your Loan Payment Strategy

Now that you have a handle on both the terms of your loans and your personal budget, you should plot out your loan repayment strategy going forward. One key decision to make now: whether you’ll make the minimum payments or try to pay down your loans’ principal earlier, to avoid more interest payments in the long run.

Many loans come with 10-year or 25-year terms of repayment. By calculating your costs over the term, you’ll be able to identify when you could take the plunge and devote more money towards the principal. You can log into NSLDS and use the government’s repayment estimator tool to estimate your monthly costs on different repayment plans. Map out your next few months of earnings and expenditures to assess whether, for instance, a yearend bonus is better spent on your loan principal than other savings, spending, or investment options.

4. Consider Consolidation

If you have many loans—and especially if you’re like the majority of graduates and managing multiple loans with different interest rates and repayment terms—it’s worth considering refinancing to achieve a better interest rate. Take a look at the refinancing calculator at CommonBond, which breaks down your potential savings from refinancing on a monthly and annual basis. Depending on your lender, refinancing can also help you consolidate and streamline your loan payments on just one monthly bill.

Think of refinancing as a great way to start afresh, especially since you’ve come a long way since you first took out those loans as a student. Take this chance to choose the best payment plan for your new lifestyle. 

5. Reevaluate Other Financial Milestones

We know it’s tough to reconsider your springtime Hawaii vacation, but it will be even tougher to fall behind on loan payments after two weeks in Maui. Take a step back and think about the rest of your financial goals (buying a new car, moving to a better place, or planning a wedding, for example), and decide how you’ll integrate them with your loan payments. Because you should never need to compromise your savings or emergency fund to repay your loans, it may make sense to push back some of these goals, set up separate savings accounts for them, or, again, find other ways to trim your budget or loan payments.

Starting the process of paying back your loans can be daunting, but with some careful planning, financial prioritization, and a payment plan that works for you, you’ll be able to put your grace period worries behind you in no time.

Where Are Tomorrow's Millionaires?

According to a Deloitte Center for Financial Services sponsored study conducted with Oxford Economics, the bulk of millionaire households are in the United States, where they are projected to stay — at least for the next 10 years.

The study revealed that wealth among millionaire households could more than double over the next decade in 25 major economies — growing from an estimated $92 trillion this year to $202 trillion in 2020.

Although emerging markets are narrowing the gap — with China, Brazil and Russia leading the way in millionaire growth — the United States and Europe have greater concentrations of wealth than any other region. The report also states that developed markets are expected to remain the global centers of wealth over the next decade.

In fact, according to the study, the total number of U.S. families with a net worth of more than $1 million, including real estate, is currently 10.5 million. This number is expected to reach 20.6 million by 2020 — representing roughly 43 percent of the world’s wealth held by millionaire households.

By comparison, Japan is expected to rank second, with 8.6 million millionaire households in 2020 and China is expected to rank seventh, with 2.5 million millionaire households.

The study — which defined wealth as financial assets, such as stocks, bonds and other investments, and non-financial assets, such as art, automobiles and real estate — provides estimates of the number of households with net wealth in three distinct cohorts of $1 million- $5 million, $5 million- $30 million, and $30 million plus across 25 economies.

To view a copy of the complete report, visit http://www.deloitte.com/us/globalwealth.

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Renée A. Hanson, CFP®, CEP®, CDFA™, CFS, is a private wealth advisor with Hanson, Ayala & Associates, a private wealth advisory practice of Ameriprise Financial Services, Inc.  Her passion is in helping women achieve their dreams and financial goals, regardless of life’s many obstacles.  Renée is licensed/registered to do business with U.S. residents only in the states of AZ, CA, CO, GA, IA, IL, MI, MN, MT, NH, NJ, NM, NY, OH, PA, SC, TX, VA, WA, WI.  Please visit: www.reneehanson.com to learn more.

Ameriprise Financial does not provide tax or legal advice. Consult your tax advisor or attorney.

Brokerage, investment and financial advisory services are made available through Ameriprise Financial Services, Inc. Member FINRA and SIPC. Some products and services may not be available in all jurisdictions or to all clients.

© 2011 Ameriprise Financial, Inc. All rights reserved.

File #112913

Friday Financial Planning

If you’re interested in working with a financial advisor to develop a financial strategy, you may be wondering what the process involves. Typically, good financial planning includes the following steps:

·         Goal setting. Your financial advisor will ask you questions to help you identify your financial needs and dreams for the future. For example:

• When you envision your future, what’s next for you?
• Where do you see yourself living?
• What lifestyle goals are important to you?
• Do you want to help provide for your children’s education?
• How do you envision your retirement?
• Do you want help to reduce the effect of taxes on your assets?

·         Fact-finding. After identifying your goals, you’ll need to assess your current financial situation. This involves gathering financial documents and account statements to determine where you stand. Your financial advisor can help you sift through this information to create a clear picture of where you stand.

·         Plan creation. After reviewing your financial documents, your financial advisor will work with you to establish a course of action to help you get from where you are to where you want to go. Your financial strategy may cover some or all of the following information, depending on your situation:

• Your needs, goals and values

• Current assets and liabilities
• Investment portfolio recommendations
• Retirement plan
• Insurance audit and needs analysis
• Estate planning analysis
• Product recommendations and action items

·         Strategy implementation. After reviewing your strategy and consulting with your financial, tax and legal professionals on any necessary details, you’ll work with your financial advisor to implement it. This may include:

• Establishing a regular savings program
• Adjusting insurance coverage to meet current needs
• Purchasing appropriate investment products
• Repositioning assets
• Setting up tax-efficient ways to transfer wealth

·         Regular reviews. After implementing your strategy, you should plan to meet regularly with your financial advisor to review your portfolio and ensure that it is up to date. Also, be sure to contact your financial advisor when you experience a life-changing event, such as a marriage, birth, death, disability or divorce, to ensure that your strategy and beneficiary designations are updated to reflect your wishes. 

A Penny Saved is a Penny Earned?

You've heard it before, “a penny saved is a penny earned.” While it is not rocket science, you may not know exactly what this adage means and what it refers to. The phrase alludes to an age old belief that saving money is a safe way to generate earnings, which is to say being frugal with your money as opposed to spending it thriftily is the right way to go.

The operating principle here is that it doesn't matter how much money you earn if you're living beyond your means or at the edge of your income without investing in a savings plan. The prudent financial planner will research his/her best options for savings accounts out there while also practicing shrewd financial discipline with regards to discretionary income.

But in an age of rampant, widespread, systemic debt—credit card, student loan, home mortgage, federal, etc—does this belief still apply? If a person owes a considerable amount of money to creditors, does saving that money for emergencies still count as earning money, even though it is being used to subsidize a debt that is likely accruing interest? This is a question many people ask themselves on a daily basis. “I am saving money, but I owe a hefty balance on my credit card. Should I continue to make monthly payments, or should I pay the whole amount and rid myself of this financial burden?”

There is no one correct answer to this question. On one hand, paying off a debt builds good credit over time, which will likely allow you to secure better credit rates in the future and save you money on a home, credit card line, or car insurance quote. Paying a debt slowly, incrementally, also allows you to invest money in different pursuits and sureties, while having funds tucked away in the event of a medical or other emergency.

On the other hand, the money you are saving and diversifying is costing you a fee in the form of interest rates on your financial debt. You are essentially paying more to have more. Over time this can cost you thousands of dollars or more. Many people have found that by procrastinating the full payment of their debts they have paid nearly twice as much money than the original balance.


Each person's situation is different. If you have a reliable job with a stable income, it may make more sense to go ahead and pay off your debts in full so that a penny saved truly is a penny earned. Paying off debts can also free you up, physically and mentally, for other investments. But if your situation is not as secure and you are essentially living paycheck to paycheck, saving is part of a larger practice that involves learning to be financially responsible. Ultimately, this is a value that will be indispensable to anyone looking to build savings and create long term financial security. The choice is yours, but be sure to contextualize short term solutions within the broader outlook of your future.  

Achieving Financial Matrimony

Imagine this: You meet the man of your dreams right after high school, continue dating through college and after graduating decide to move in together. Naturally the next logical step is to get engaged. You purchase a dazzling ring, new furniture for your home and merge your bank accounts. After all you will both be contributing to the wedding fund and it would be easier to do if you only had one account, right? 

Since the average wedding costs $30,000 you expect that both your incomes and savings will go towards that, but only for the next year. After the shower you realize you need more space to put all these great items from Crate and Barrel that you registered for, and that one bedroom apartment is just not cutting it. Plus, the dog really needs a backyard. So you give into the “American dream” and find a three bedroom home for the amount the bank approved you for.

You move into this beautiful slice of the dream and soon after begin to feel the pinch. Because you purchased a foreclosed home to get the most bang for your buck you are now finding that the previous owners weren’t the best contractors. The honey-do list begins to get longer and the tension between you and your partner gets higher. You haven’t been on a vacation since before you got engaged so you are excited to have a rocking bachelorette party in Vegas. Your partner finds out your plans and reminds you that according to the budget that he set up there isn’t room for plane tickets and hotel rooms. He suggests staying in town for a night in your old stomping grounds. You can’t believe this, this is a once in a lifetime experience right?

You storm out of the house as the bickering begins and head to the salon to get your hair and nails done with your maid of honor. You need time to clear your head. When you come back he critiques your decision to spend more money on lavish services you didn’t need. You think, “Oh contraire, my roots were terrible and my nails needed to be done for the engagement shoot”. He is fuming saying that you don’t understand the difference between a need and a want. You scream back that he doesn’t understand what it means to be a woman and that if he is going to keep acting like your dad you don’t want to be around him. He responds, “Then maybe you shouldn’t be acting like a child!” And the silent treatment begins. You both storm off to spend the rest of the evening alone muttering to yourself about how he/she just doesn’t get it. 

Sound familiar?     

How did you get in this situation and what could you have done differently? 

Since finances are the number one reason for marital discord and ultimately divorce, it shocks me how little we talk about it.  I think the reason why we avoid this taboo topic is three fold. First, often times we are partnered with the opposite type of spending style (the spender or the saver). We fear that the other person just won’t understand you because they don’t feel the same way. Second, we fear that we may bring up a topic that creates problems where there weren’t problems before. The challenge with this thought process is that the money monster is always there; he may just be hiding in the basement of your relationship… waiting…Thirdly, one member feels less entitled to financial decisions because that person doesn’t contribute as much money as the other member. This can be extremely challenging with stay at home moms who don’t ever bring home a pay stub but are working 24/7 at home raising a family.

So where do we go from here?

It’s pretty simple, just talk. Yelling, name calling and silent treatments are not allowed. You’re both adults and are capable of having a respectful discussion about something you disagree about. After all, the perfect relationship isn’t one where you never argue; it’s one where you can respectfully disagree and understand where the other person is coming from.    

Let’s try this scenario:

You suggest that after work you both set aside the evening to discuss what has been causing tension in your relationship. No TV, no alcohol, no distractions (ie: cell phones).

1.       You each independently take an opportunity to make a list of the things that have been bothering you.

2.       (This is the most important step!) Establish ground rules. The ones that should be non-negotiable are the ones I mentioned above: No yelling, name calling, silent treatment, alcohol or distractions. These things only serve to create more conflict and don’t put you in a state of mind where you can feel comfortable in a vulnerable situation.

3.       Decide who will start and have that person read their list. Then the other partner reads theirs. No discussion/objections to what was said. Just reading your list as it is written on the page.

4.       Agree to pick one item from each list to discuss this time. If you happen to have a similar item go for that one!

5.       Choose who will discuss first. Then, calmly and respectfully discuss why this one was the most important to you and how it makes you FEEL when this happens. Again, no blaming the other person. Try “I feel frustrated when you say I waste our money” or “I feel restricted when you get upset about my decision to get my hair done”

6.        The other partner (after listening to how his/her partner felt) validates their feelings. “I can see why you would be frustrated by that” or “I understand that you feel frustrated”. The key here is that you don’t have to 100% agree with their feeling but you respect them enough to try and understand their feeling. Also, this shows the other person that you were listening.

7.       Then discuss solutions to the problem.  In the example above the couple could discuss their budget for the bachelorette/bachelor party.

8.       Then switch, and the other partner goes through steps 5-7.

9.       Agree to not start arguments about the other items on the list because you will commit to going through the same process on a specific date in the future.

The previous scenario may not directly apply to you, but these nine steps will be able to fit in most situations and I strongly suggest implementing them in the relationships that matter to you.

Remember: According to Merriam-Webster’s dictionary the definition of discussion is "the action or process of talking about something, typically in order to reach a decision or to exchange ideas”. Even if the topic is difficult you’re not being sentenced in front of a judge; you are simply exchanging ideas with the person you love about a way to make your relationship better. And now you can even attack this taboo topic of finances before it ever becomes an argument. I assure you, talking about it preemptively is not going to create problems that never existed before. Every person will have different opinions about how finances should be managed (big and small).  Even a monthly pedicure trip with your girls could create turmoil if not discussed how you will financially handle it together. Now go for it! No luck needed; just mutual respect.

Jessica has spent her career working in the non-profit mental health field. She has graduate degrees in Counseling Psychology/Marriage and Family Therapy Licensure Preparation and Education/Instructional Leadership and a BA in Psychology.  She has worked in a variety of settings including group homes, behavioral health agencies, universities and healthcare clinics. She has experience working as an individual, family, couple and group counselor for both children and adults. Her personal interests within the mental health field include PTSD treatment and the emotional challenges of parenthood. 

What It Takes to Raise Kids in America Today

Reposted from www.learnvest.com 

With his five-bedroom Colonial house set in homey Orange, Conn., beautiful wife, two dachshunds, and a three-year-old son so cute that his face graces the packaging of diapers sold in hundreds of Stop & Shop grocery stores, Richard Samela, by all accounts, is living the American Dream.

But behind the lovely suburban setting, 42-year-old Samela works his butt off to keep it alive.

In addition to his full-time, breadwinner job as a technical project manager, Samela takes on 15 to 20 hours of freelance work each week in order to afford anything beyond the basic mortgage, health care and child care expenses. This cuts into his weeknight family time, and dampens his ability to contribute to household tasks.

As a result, Samela says he and his wife, who both have college degrees and white-collar jobs, are not planning on having any more children.“It’s insane,” says Samela, whose wife Amy, 36, also works full-time. “Most weekends I have to worry about, ‘Do I work on maintaining the house, or spending time with my family? I basically have to work two jobs just to get by, and most of my free time is spent doing yard work, laundry and that sort of thing.”

“The cost of day care is exorbitant,” says Samela. “It’s $1,300 a month, which is the cost of a mortgage. Can you imagine, in 15 to 18 years from now, what the cost of college will be?”

Samela’s challenges speak to the sentiments of many Americans, especially middle-class parents, who according to “The American Dream 2.0,” a recent survey by LearnVest, say they face unprecedented financial and social pressures when it comes to staying afloat themselves—while raising kids.

In fact, 72% of respondents say there are more concerns when it comes to rearing children today. More than half feel it is too expensive to raise children in this day and age—and 60% believe you need dual incomes, like Samela’s and his wife’s, to make ends meet. Over 1 in 3 respondents say they have delayed having children because of their financial situations.

We’ll take a closer look at how the landscape has changed since our parents were parents, as well as how a new generation is interpreting the dream for themselves.

Our Parents, Ourselves: How Raising Kids Has Changed

The sour economy and mounting financial pressures were actually enough to make one newly minted family flee the country. When an opportunity arose for Emily Bond, her filmmaker husband, Robert, and their baby son, Ezra, to transplant from Brooklyn to Seville, Spain, in September 2010, she jumped.

Border-hopping seemed a means of escaping the pressures of parenting 2.0.

“People were [already] asking me what school he was going to and what waiting list he was on,” says Bond, 35, of her newborn. “Moving to Spain presented an alternative choice.”

The same financial pressures didn’t exist in her childhood, she says. Bond, who is African American, grew up in an “idyllic suburb” of Washington D.C., with a lawyer mom and physician dad. In essence, they had achieved the American dream.

“I grew up very comfortable,” says Bond, who has three other siblings and often compares her family to the Huxtables, actor Bill Cosby’s 1980s TV family. “We had cars, private schools, the whole shebang.”

After moving to Spain, things were great at first for Bond and her husband, 50. But slowly, they started to change. “I lost two contracts, and as the economy recovered in America, it became difficult to convince employers to outsource to Americans overseas,” she recalls.

Then, in mid 2012, Bond gave birth to her second son, Finn, and she and her family decided to move back home.

Her reality today–raising a family while looking for a full-time job, while living in the house she grew up in—is certainly a stark contrast to the one her mother enjoyed.

In fact Bond’s mom, Susan Greenwood, grew up in a small town in the southeast corner of Kansas in the 1950s, at a time when there were far fewer opportunities for both African Americans and women. Neither of her parents had a Bachelor’s degree – in fact, Bond’s grandfather barely finished third grade. Still, through hard work, education and (as she puts it) the help of affirmative action, the 64-year-old not only got into the only law school she applied to, but she also obtained the only job she ever applied to while pregnant with Bond in 1978, and is still an attorney for that same government agency.

“The sour economy and mounting financial pressures were actually enough to make one newly minted family flee the country.”

“I think it’s very, very difficult to achieve the American dream, but I guess that depends how you define it,” says Greenwood. “If you define it as being able to buy the large house in the suburbs, or send the kids to a private school or a good public school, it’s almost unattainable.”

Greenwood says she doubts any of her children will be able to afford the same lifestyle they grew up with, or even whether she would have four children today. ”I could not afford to educate four,” says Greenwood. “I’d probably just have one or two.”

Many would-be parents agree. In 2011 the U.S. birth rate dipped to its lowest-ever recorded levels, according to the National Center for Health Statistics, which reported 63.2 births per 1,000 women of childbearing age. That rate is almost half of what it was in 1957, when it hit 122.7 per 1,000 women.

A New Generation, Redefining the Dream

Emily Bond doesn’t expect to have the same material luxuries she grew up with, but she’s at peace with that. And, in fact, she says, having those things doesn’t define the American dream anymore. At least not for her.

“It wasn’t until I became a mother myself, and I realized it cost a lot of money to have a house, that it cost a lot to maintain the American dream, but it was really just an American fabrication,” she says.

Like many of her peers with children—and plenty without—Bond wishes some things were different, including the pressure on Americans to become successful and independent so quickly after college.

“What Americans say they want out of life, Spaniards get quite easily,” says Bond. “I think that in Spain, it’s very natural for people to stay with their families until they’re well into their thirties. That’s why you have so many boomerangers [in the U.S.], because they never had an opportunity to save up an emergency fund, a down payment.”

Perhaps it’s a good thing, then, that so many define the American dream beyond material acquisitions. More than one out of four (27 percent) Americans told LearnVest that achieving the dream was all about finding spiritual happiness—however you choose to define it.

“There is also some redefinition of the American dream away from economic success and more toward a spiritual component,” says John White, coeditor of the book “The American Dream in the 21st Century” and professor of politics at the Catholic University of America. “I use that term loosely. It means finding a job where you can spend time with your family, [that] allows for personal growth and a real partnership with your colleagues. This spiritual dimension first became evident in polling after the 9/11 attacks and has remained.”

And the reorientation may help parents like Samela and Bond, face-to-face with new realities, to define what it means to grow and thrive in America today.

Giving to Charity When You Have No Money

Reposted from www.lifehacker.com

Make Something You Can DonateP

Not all needs are financial. Many charities collect and distribute clothing or homemade items for a variety of services. Some make blankets or clothing for sheltered or injured animals. Others accept blankets, caps, and clothing for people that have various medical issues. Mental Floss has a great collection of charities that accept all manner of home made items.P

If you're not well versed in the arts of knitting or crocheting, you can donate hair to Locks of Love, a charity that makes hairpieces for patients that experience hair loss from any medical treatment. This one might be easier for women or men who have long hair, as they require a minimum length of 10 inches to accept donations.P

Volunteer Your Time Instead of MoneyP

Donating money isn't the only way to benefit your long-term health and happiness while helping others. One study showed that people who volunteered their time tended to live longer than those who didn't—it even showed that doing so because you want to help others has a greater effect than doing so to benefit yourself. Of course, while you're there, you’ll likely learn some great DIY skills for free, as well as get a reference letter out of the deal.

How Wanting it all Can Make you Unhappy

Reposted from LearnVest

Are you ready for this?

Back in the ’70s, all we wanted was to “have it all.” A happy marriage, a good job, healthy kids—and a little bit of work/life balance. Ever since, working moms have put up the good fight, struggling to juggle a career and a home life without dropping the ball (any ball!).

Now a new study suggests women who want it all—and believe it’s possible to achieve—are actually unhappier. According to a study out of the University of Washington, working mothers who profess that their home and office lives can be seamlessly juggled are at a greater risk for depression than their more realistic colleagues.

Working moms who attempt to achieve “Supermom” status are more likely to exhibit symptoms of depression.

In other words, the happiest working moms are “willing to let some things slide,” reports Katrina Leupp, a sociology graduate student and the study’s author.

How We Got Here

The study has tracked the same set of 1,600 married women—a mix of stay-at-home and working mothers—since they were between the ages of 14 and 22. Way back when, researchers started by asking for their reactions to a series of provocative statements, such as:

• “A woman who fulfills her family responsibilities doesn’t have time for a job outside the home.”
•  “The employment of wives leads to more juvenile delinquency.”

Now, as adults, Leupp analyzed the women’s answers, as well as their comparative levels of depression (while controlling for marital happiness and hours worked). Her calculations turned up two key findings: First, the research confirmed earlier studies which have shown that moms who are employed generally report better mental health than their stay-at-home counterparts. On the other hand, working moms who attempt to achieve Supermom status—in other words, those who try to have it all, without admitting that it’s difficult—are more likely to exhibit symptoms of depression.

What It Means

While working appears to have positive effects on women’s health and the health of their kids, the study also reveals that facing the fact that being a working mom in America isn’t easy may be your best chance at happiness. “The research findings point to the mismatch between women’s expectations about work and family and the actual structure of the workplace and family care,” Leupp tells LearnVest. “American parents receive little childrearing aid in the form of paid parental leave or subsidized childcare, and women do the bulk of the housework and childcare, even when employed full-time.”

As a result, supermoms who internalize the issue (read: “It’s me. I should do better.”), as opposed to admitting that the problem is real—and something nearly every working mom struggles with—wind up feeling guilty or experiencing a sense of personal failure.

How You Can (Almost) Have It All

According to Leupp, the key to work/life balance is facing the fact that you can’t do it all. But “letting things go,” isn’t easy, especially when you have two to-do lists. So how do you stay on top of everything while accepting that it’s OK to be less than perfect?

“A large part of the depression that women feel stems from a sense of being overwhelmed,” says Cathy Greenberg, Ph.D., author of What Happy Women Know. “To help combat that, focus on small changes you can make in your daily routine.” Consider these ideas:

Feed Well-Being

An act as simple as switching from coffee to green tea, or deciding to drink more water, can literally impact your mood. While it’s easy to medicate with lattes, both caffeine and sugar set you up for adrenal fatigue, which leaves you more exhausted, instead of energized.

Cross Things Off

Take one or two minor items off your to-do list, or delegate those responsibilities. Ask your husband to make dinner once a week, recruit another mom into the carpool or have the kids feed the dog before you get home. Enlisting support not only whittles your list but will also make you feel less alone.

Embrace Healthy Multitasking

When it comes to fitting in exercise, get creative: Grab the dog or the stroller, or ask an older child to walk and talk with you. Maureen, 36, a web editor, bought a fitness DVD and works out at home instead of going to the gym. “I pop it in after my daughter Clemens, 4, has gone to bed, so it’s less time away from her,” she says. “Every minute counts!”

Focus on the Good Stuff

Many of us have a tendency to run what psychologists call a “negative loop.” Focusing on what went wrong, or what we should have done, is a definite trap for tapped-out moms. Instead, decide to replay the happiest five to ten minutes of your day to remind yourself of what went right. At the end of the week, you’ll be pleasantly surprised at all you’ve accomplished.

Don’t Assume She’s a Supermom

Just as we pay more attention to how much our friends earn than our own bottom line, it’s easy to measure yourself against other mothers. As Bonnie, a tax accountant and mother to three-year-old Ryan, puts it: “I feel guilty for not showing up to all his school events. His preschool teacher actually said it was ‘nice to see me’ the one time I read to his class because, according to her, I’m the only mom who doesn’t.” Remember: You don’t have to do it the way other moms, your sister or your best friend does, let alone the way anyone else thinks you should. Now we have proof that there’s no such thing as a “Supermom”—and that trying to be less of one will actually make you happier.

The Work Benefits that Save You Money

by Emily Nickerson, September 9, 2013 www.dailymuse.com 

If the only time you looked over your employee benefits was when you picked your healthcare coverage during your first week on the job, chances are you’re missing out on a bunch of other things your company can do for you. In fact, more and more employers are offering benefits, discounts, and savings plans that help you keep more of your hard-earned paycheck in your bank account.

If you’re not taking advantage of these benefits (or not even sure your company offers them) check with your HR team now. Open enrollment is typically offered during the fourth quarter, so you don’t want to miss out!

Grow Your Retirement Fund 

Although many employers have switched to DIY style retirement planning for their employees—and pensions are pretty much a thing of the past—some companies still offer to match a portion of your 401(k) contribution. If yours is one of them, not taking advantage of this benefit is akin to walking away from free money. Contribute at least enough to your 401(k) to qualify for the full match.

Not sure whether that’s enough to fund your retirement goals? More and more companies are providing their employees with free or reduced cost services from a financial advisor or counselor. Find out if yours is one of them (or suggest it to HR!).

Get in Shape

In an effort to contain rising healthcare costs, many businesses promote a healthy lifestyle among their employees by reimbursing for the costs of health club memberships—or even by providing onsite gyms, free yoga, or wellness consultations. While these services will obviously save you on your monthly fitness costs, taking care of your body now can save you even more in reduced medical costs in the future.

Sharpen Your Skills

Want to earn an MBA, but not looking forward to the cost of tuition? Many companies will reimburse you for coursework related to your line of work. Before you sign up for classes, check with HR to find out what expenses are covered and any other qualifications you need to meet. For instance, you may need to stay with the company for a year or two to qualify; if you move on sooner, the company may require you to return the funds.

Your company or department may also cover the costs of conferences, seminars, and webinars, or other opportunities for you to grow in your role, as well. Often, these opportunities aren’t always advertised, though—so it’s definitely worth it to ask!

Keep More Pre-Tax Dollars

Flexible Spending Accounts (FSAs) let you set aside your pre-tax earnings to cover your out-of-pocket expenses for healthcare, childcare, or the costs of your commute. (Not all companies provide FSAs for each purpose; ask your HR team for your options.) You enroll in the plan at the beginning of the year, determine how much you’d like to contribute to your account, and have a portion deducted from each paycheck. Then, as you incur those expenses, you submit your bills or receipts for reimbursement.

The benefit of an FSA is that it reduces your income taxes, as your FSA contributions are deducted from your pay before federal, state, and Social Security taxes are calculated. Just be careful not to overestimate your expenses—you’ll forfeit any funds remaining in your account at the end of the year.

Ask About Additional Benefits 

These are the basics, but your employer may provide you with additional industry-specific benefits. For example, since I work for a credit union, I get a nice discount on my auto loan rate (and will on a mortgage when I decide to buy a home). My husband, an engineer with a major appliance company, gets significant discounts on washers, dryers, refrigerators, and more. The discounts specific to your company can add up to huge savings (or more temptation to spend—as I found while working in a bookstore café during college!).

So, take a peek at your HR website and see what might be offered to you. Going from leaving these benefits on the table to taking advantage of the savings can be almost like getting a raise!