5 Ideas for Frugal Summer Fun

Here comes the sun, and we’re all dreaming of pearly beaches and swaying palm trees. Summer frolicking doesn’t have to be expensive: Here are a few ways to enjoy the summer without digging too deeply into your pockets.

Plan a potluck barbecue:

Fire up the grill and have your friends over for a barbecue extravaganza. Cut down on costs by having each person bring something. Assign menu items like main dishes, salads, desserts, beverages, along with stuff like napkins and cups to make sure you have enough of everything. Turn ordinary hamburgers and hotdogs into a special treat by creating a topping bar that boasts snazzy items like fruit salsa or unusual hot sauces. For an inexpensive dessert, cut peaches or mangoes in half and put them flesh-down on the grill; then serve with a scoop of ice cream.

Take a hike:

Some parks charge entrance fees, but lots of prime hiking spots are free. Grab a good pair of shoes and a few friends and take off on a nature-lover’s adventure. Your city likely has nearby trailheads that can be accessed for an easy day hike. Spectacular parks around the country that you can access for nada include Great Basin National Park on the Nevada/Utah border, the Buffalo National River in Arkansas (fees only apply to camping), and Alaska’s Katmai National Park and Preserve. There are plenty of choices for sturdy backpacks that won’t break the bank. At $75, the Teton Sports Wilderness 55 is a bargain, boasting a rainfly for the top and zippered side pockets…

Cold, Cold Art

Is the art market on the verge of an ice age?

Last week, the all-important contemporary art auctions were held in New York. The big houses raked in tens of millions of dollars—Sotheby’s hit $47 million in its May 12 evening sale, and Christie’s did $93 million the next night—and set a few records. But no matter how they tried to spin it, those sums were relatively skimpy. Christie’s brought in three times more last year, and the big lot at Sotheby’s, Jeff Koons’ Baroque Egg with Bow (Turquoise/Magenta), which had been shopped around for $20 million, sold for $5.5 million.

The problem isn’t just lack of enthusiastic buyers…

Out on the Street: The Bucks Are Back

So extravagant pay packages are a thing of the past? The political rhetoric suggests so. Last week the Obama administration started to work on curbing “excesses” on Wall Street. The compensation structure for all financial services firms—even those who didn’t accept TARP money—is under review. The private sector is also rethinking pay big time. Earlier this year, JP Morgan C.E.O. Jamie Dimon told employees at a town hall meeting that many should be prepared to have zero bonus payments in 2009. “Get over it,” was his message.

So you can imagine my surprise when I heard the other day that a trader had been offered several million dollars to jump to another bank guaranteed for a couple of years. That’s right: several million dollars. At first I thought I’d heard wrong. It’s 2009, not 2006…

Recession Briefing 5.18

What you need to know today to survive and thrive in the recession.

Popular consumer items in the recession include: chocolate, Spam, self-tanning products, running shoes, and cheap wine. (Associated Press)

“Will the global recession push more people to sell their organs? Apparently, the answer is yes,” writes William Saletan. (Human Nature)

Want to get the most bang for your food dollars? Mark Gimein finds the most caloric food items for the least money. (The Big Money)…

Screwed: 12,000 at Tech Mahindra

A daily review of the employment fallout around the country and the world.

Tech Mahindra plans layoffs at Satyam Computer Services, affecting at least 12,000 employees… Construction material dealer Stock Building Supply is cutting 2,220 jobs as it attempts to restructure… CAE Inc. announces a two-phased downsizing plan that will culminate in 700 layoffs between now and the fall…

Bad Debt Settlement Companies

It can’t be said enough that debt settlement companies are a poor option if you’re strapped with overwhelming credit card debt. From the New York Times Saturday:

When you sign up, many firms require you to pay a sizable fee upfront. Or they may levy initial set-up and monthly fees, and charge a percentage of the amount they saved you. They typically advise you to stop paying your debts and tell you to put aside money each month in a separate account over a period of two or three years. That sum will eventually be used to negotiate a settlement, usually about 60 percent of what you owe. In the meantime, though, credit card companies continue to charge interest and late fees. The creditor may sue. And the phone will probably continue to ring incessantly. The companies can offer no guarantees — except that your credit score will drop.

…

Recession Lexicon: Bleakonomics

/n. “Bleakonomics” refers to the dire forecasts, depressing warnings, and otherwise gloomy chatter that’s still brewing beneath the recent round of cheerier economic predictions. The bleakonomists warn us that any sense of hope we feel is entirely unfounded. Recently, Havard’s Niall Ferguson announced that we are in a “slight depression”…

Five Cheap Wardrobe Tricks

The dilemma: It’s spring, and you’re dying for the new look blossoming in fashion magazines and store windows—but you have very little money these days to buy anything.

This year, I had particular need for a wardrobe refresh. With my new book coming out (In Her Own Sweet Time: Unexpected Adventures in Finding Love, Commitment and Motherhood), I was going to be touring the country giving readings. But since I work from home, my uniform generally consists of jeans, a T-shirt, and a comfortable pair of clogs. And like most people, my bank account is screaming extreme frugality much more than extreme luxury.

But transforming your look doesn’t have to mean spending an exorbitant amount—it just means getting creative. I called Samantha von Sperling, director of Polished Social Image Consultants in New York, for a little help. Von Sperling has produced style identities for celebrities, royalty, business executives and regular Joes…

4 Reasons to Date the Unemployed

Historically when a woman found out a man she wanted to date was unemployed, she would go running for the hills. But these days, with the recession affecting people in all professions, many recently laid-off men actually make very promising boyfriends. Chances are high that these men worked in law, banking, or another field that requires a decent amount of education, intelligence, and motivation.

While these men may fall into the dreaded unemployed category, they are still desirable, and maybe even more desirable than men who still have jobs. Here are four reasons why starting to date someone who’s been laid off can actually be better than someone who has to go to work every day…

Screwed: 4,500 at Schaeffler

A daily review of the employment fallout around the country and the world.

In Germany, auto parts maker Schaeffler will cut 4,500 jobs. … Nike cuts 1,750 jobs around the world amid slowing demand for its products. … Polish newspaper company Agora, hit by declining circulation, will lay off 400 workers. … Wartsila, a maker of ship engine parts, will lay off 450 people through the end of the year. … Venus Swimwear in Jacksonville, Fla., will reduce its workforce by 240 positions….