This Week in Your Wallet: December 11, 2012
Over the past year, I’ve used this space to talk about airfare a lot: when to buy it, how to maximize yourpoints and miles, the best ways to save a little money on what is one of our biggest travel expenses. Today, I want to talk about something we often overlook: how to save money at the airport.
Just as we (sometimes) forget to factor in the cost of wrapping paper, bows and shipping when we make our holiday budgets, it’s easy to think that once your airfare is purchased, your job is done andyour wallet won’t face any other temptations. As Peter Greenberg, one of my favorite travel experts,recently pointed out, there’s a lot of goods and services battling for your attention on your walk from security to the plane’s gate. Here are some of his suggestions for resisting these temptations:
- Pack a lunch. How many times have you booked a flight with a layover, saying to yourself, “oh, it’s fine, I’ll kill time by buying lunch”? Don’t do this! Chances are, you took the flight with the layover to save a little bit of money. Don’t squander that savings away at an airport McDonalds that is neither healthy nor particularly cost-efficient.
- Bring a (special) water bottle. I know what you’re going to say: “I’ve tried this, but I can’t sneak it past airport security!” Greenberg’s solution to this problem is wonderfully simple: bring an empty water bottle and fill it at a water fountain once you’re through security. If, he notes, you “shudder” at the thought of drinking water from a public fountain, invest in a self-filtering bottle like the Bobble or the Brita Bottle. Use it throughout your vacation to avoid $2 bottles of water, and it will quickly pay for itself.
- Pay checked-bag fees in advance. If you’re not a part of a loyalty program that waives checked bag fees, try to pay for your luggage at the time you’re buying your airfare. Some airlines (Greenberg calls out Spirit) charge one fee at booking, raise it at check-in, and raise it again at the airport counter. If it helps, think of it less like a checked bag fee and more like a fee for not planning ahead.
Greenberg has some other great tips for avoiding airport traps and temptations, so I highly recommend reading the full article, linked above. And now, here are the other headlines for the week:
Has Empty-Nest Syndrome Flown the Coop?
According to research on depression rates in parents that recently came out of King’s College London, parents whose kids moved farther away from home were actually happier than parents with at least one child living nearby. What’s more, the study found that among parents whose kids moved out and then back home again, depression rates were highest — 33 percent, in fact.
One of the co-authors on the study explained this uptick in depression rate by saying, “Children either returned home because something had gone wrong in their own lives, such as divorce or job loss, adding to parents worries or because of their parents’ declining mental or physical health.” So it’s not so much having the kids home that is depressing but more the reason for their return to the coop.
In writing about these research findings for Philadelphia magazine, Sandy Hingston says that empty-nest syndrome has been replaced by “‘Cluttered Nest Syndrome,’ since the ‘boomerang generation has proven so much more apt to move back home.” She also goes on to use a nickname for these kids that I hadn’t heard before: “babygloomers.”
Do you agree with her assertion? Better yet, do you think the Kings College research is hinting at a growing trend? Email your thoughts, comments or questions on the subject to jean@jeanchatzky.com — I’d love to hear from you!
Matching 529 Contributions
I thought my eyes were deceiving me when I first came across this great Marketwatch article: in what many people are calling a first, one company has announced a matching program for employees who contribute to a 529 (college savings) account. The company (Dun & Bradstreet Credibility Corp.) will match dollar for dollar up to $2,500 per year for salaried employees, and dollar for dollar up to $1,000 per hourly employees.
Now, before you get too excited and start scouring the web for Dun & Bradstreet job openings, there is one caveat: the match is only (currently) available for one state’s plan: Nevada’s Putnam 529 for America. And while you can invest in another state’s 529 plan, you could risk losing some or all of the tax perks that come when you invest in a 529.
However, I’d prefer to focus on the positive here: a 529 match is a great benefit, and one that we can only hope is adopted by many other companies across the country. If your company offered a 529 match, would you take advantage?
Replicating the Rockefeller Christmas Tree…
A few weeks ago, I told you how much it would cost if you wanted to buy every single item mentioned in “The Twelve Days of Christmas.” This week, I have another fun (imaginary) splurge for you: the Christmas tree at Rockefeller Center. Looking to put an 80-foot tree with a 9 ½-foot crystal star on yourown front yard? According to Bloomberg Businessweek, you would need to shell out a grand total of $73,500. What goes into that figure, you ask? Well, the tree itself (a Norway spruce) costs $25,000, while the Swarovski tree topper will set you back about $35,000. The 45,000 LED lights cost the remaining $13,500.
What boggles my mind is that this figure doesn’t account for your electricity bill for the season — I wouldn’t even want to guess what that would be! So for the time being, I think I’ll settle for looking at the tree on my way into work. Not a terrible alternative, right?
Have a great week!
Jean
