• We gave you this link in an earlier blog about hemming pants, but here it is again. http://www.goodhousekeeping.com/product-reviews/research-institute/easy-way-to-hem-pants.
• Have a friend or relative with a sewing machine? Ask if you can use it, or pay them to hem the shorts for you. It only takes a few minutes if you have the hem already prepared for sewing.
• Buy double sided hem tape. It can be found in most fabric stores.

Other inexpensive ways to acquire shorts are at yard sales, resale shops and consignment shops. Now that you know how to hem, you don’t need to restrict your search to just shorts.

Cars depreciate rapidly, and therefore don’t hold their value as long as homes. However, if your current car is still worth more than the amount owed, check with your lien holder to see if you are a good candidate for refinancing. The fees for refinancing automobiles aren’t nearly as high as those for home mortgages, so you may be pleasantly surprised at the savings to be had.

Your assets (the things you own) should include all bank accounts, stocks, IRA’s, 401k’s, etc. Anything that has actual cash value. Do include your home equity – the value of your home minus the amount you owe on it. Don’t include physical property such as cars, clothes, collections, etc.

Liabilities are your debts. Do include credit card and consumer loans.

The only hard part is collecting all the information, and that gets easier the more you do it. The actual balance sheet can be just a list of assets with their value, a list of liabilities with their value, and your net worth (assets minus liabilities). Or you can follow the sample that I have provided here.

The numbers in parentheses are negative. This is bad. The key to having a positive net worth is getting rid of the debts. Then gradually add to the savings, and you will be on the way to wealth.

1. Are your children grown and on their own with sufficient income that they don’t require any money from you?
2. Are your funeral and burial costs prepaid, or will there at least be enough money in your estate to cover them?
3. If you are married, and you die first, will your spouse have enough income to live comfortably?
4. If you give up the policy, it will be more expensive to buy another one when you are older. In addition, if you develop health issues in the meantime, it may be impossible to get another policy.
5. If you decide to keep your policy, perhaps you could reduce the coverage as you get older.
6. Do you or someone in your family have serious medical problems which may cut into your savings?
7. If you have a whole life policy, instead of a term policy and you are getting a good interest rate, it may still have value as a savings plan.
8. If you need advice, try to meet with an independent financial adviser, even if you have to pay a fee. No matter how much you like your insurance agent, his job is to sell insurance, and therefore he may not give you an impartial opinion.
9. One more aspect of this is your estimated life span.  Face it, some families die young so it might make sense to keep the policy.  Other families live a long time, so maybe it might make sense to let it go.  It is a little like a bet on how long you will live.  Die young, you win.

Here’s where websites like Craigslist and Freecycle come in handy. They are designed to keep things out of the landfill and provide a home for items that still have value for someone. Everything on Freecycle is free, and Craigslist has a free section in addition to their for sale classifieds. If you don’t see what you’re looking for, put in a Wanted ad. Two other places you may not have thought to look is in the eBay classifieds, where there is a section just for free stuff, and FreeNapkin where everything is free.

A recycling center is also a good source for cardboard boxes of all shapes and sizes. Why bother buying a box for shipping, packing or storage when you may be able to get just what you need without spending a dime?

Many power companies send out a yearly summary in which they compare your energy use to other people in your neighborhood with homes of similar sizes. If this report indicates that you are using more energy than your neighbors, maybe it’s time for an energy audit.

Most energy companies have an online energy analyzer that you can use to determine if you are doing all you can to save energy. Many also have an educational section which gives tips for saving energy, along with information about rebates for new appliances. A few may even offer a free in home energy audit.

Another good place to look is Energy Star at http://www.energystar.gov/index.cfm?c=home_improvement.hm_improvement_audits. This website also has a self-directed energy audit you can take, as well as suggestions for reducing your energy use.

An ideal marriage involves making financial decisions together. If one partner is better at investing and enjoys it more, that’s fine, let them do it. But make sure that you know what those investments are, and where the information about them is located. In addition, check on them at least quarterly to see if there have been, or need to be any changes. Take advantage of opportunities to learn about investing, so that you will be able to make informed decisions if the need arises.

The exception would be if you get some fantasy value from a lottery purchase. Maybe buying a ticket will give you the delusion that you could become wealthy over night. Ahh, just imagine!  This fantasy may be worth more than the cost of the ticket.  Just buy one ticket a year and leave it in your wallet unchecked.  Fantasize all you want on the cheap and save your real money for the real world.

• Clear out the clutter. If every area of your house is packed with stuff, it will make your house look smaller. Think about renting a storage unit, and clear out anything that you don’t use on a regular basis. You may think that people won’t look in your cupboards and closets, but that’s a wrong assumption. The same goes for your basement and garage.
• Paint – A fresh coat of paint can make a big difference. Use neutral colors. You may like red, but not everyone feels the same way.
• Landscape – Get rid of the weeds and prune overgrown bushes. Keep your lawn mowed and plant new grass seed in the bare spots.
• Get rid of musty smells. Use a dehumidifier in your basement or open a window to keep it fresh smelling.
• Pets – Barking and/or aggressive dogs are a real turn-off when potential buyers visit. Loan your dog out for the day. Make sure your yard is free of pet droppings and your home and furniture free of pet hair and odors.
• Repair – Make simple repairs such as taking care of leaky faucets, replacing caulking, or fixing torn window screens.
• Clean – Wash the windows, clean the floors, doors and bathrooms.
• Front Door – Paint it if necessary and check the area around the entrance. Remove cobwebs, sweep the porch, make sure the doorbell works.
• Carpeting – If your carpeting is very soiled or an unusual color, you might want to consider investing in some inexpensive neutral colored floor covering.
• Lights – If it’s a dark day, turn on the lights to brighten up the house.