How to Shop in Your Closet for New Year’s Eve

With all the sales taking place and New Year’s just days away, it can be tempting to hit the stores for some new party duds. But face it (as I recently did): You have plenty of clothes. You just overspent on holiday gifts. And even the gainfully employed learned this year about the importance of being frugal. So here’s how to shop in your closet, and some sparkle to your evening without spending:

Repurpose Your Jewels

Works especially well with hand-me-downs from mom and grandma. Hang a big rhinestone pin on some ribbon to make a new necklace.

5 Ways to Make Cheap Gifts Look More Expensive

We all wish we could spend a million dollars on our loved ones. But, this is certainly not the year for it. What we can do is make our budget-friendly gifts look amazing and personalized.

The way to do this is not to spend more money on fancy gift bags and wrapping paper. Considering that each gift bag can easily cost $3 to $4 (or more, if it gets really fancy), and even a large roll of wrapping paper can be $18, it’s not hard to drop more than $50 alone just on wrapping supplies alone during the holiday season.

Don’t be that person. Instead, get creative and save some money.

Since the best gifts show careful consideration for the recipient, here are some of our favorite tricks…

Turn Starting Over into Celebration: Create Your Own Holiday

A few years ago, I became somewhat befuddled about what to do with my life.

Okay, I was completely befuddled.

The cause was (as I put it) losing my job—being displaced, severanced and bridged to an early retirement. My 15-year-old daughter put it this way: fired, broke, preparing to sell the house. Don’t you hate it when your kids get it right?

Anyway, I did what anyone else would have done in my situation: I created a new holiday.

On my calendar, Arrival Day falls on any day in the week before Thanksgiving—though you can slot it anywhere during the year. On this day, the celebrant takes a round-trip on the Staten Island Ferry, across New York Harbor going out, and more importantly, coming back. Coming back past Ellis Island and the Statue of Liberty, you imagine yourself as a new immigrant, with all of your belongings in a bag and your life savings—maybe $50 or $1,000—in your pocket…

Recession Briefing 12.23: In Bank Closings, FDIC Gets Booty

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

The recession pushed U.S. bank failures in 2009 to a 17-year high. As a result, the Federal Deposit Insurance Corp. to close came into possession of some interesting booty, including a rapper’s tour bus that reeked of marijuana, a red 2001 Ferrari, an eight-foot palm tree and stacks of unwanted office furniture. (Bloomberg)

In these final shopping days, many parents are reconciling their practical concerns with a deep desire to see delight in their children’s faces on Christmas morning. Spending on gifts is down, but that does not always mean children will feel the difference. (Washington Post)

In states hit hard by the housing crisis, stripping fixtures and appliances from homes in foreclosure has become commonplace. Often, the stripping is not done by strangers. It is done by the owner, just before the bank forecloses on the mortgage and takes the property back. (New York Times)…

Unemployment-Friendly Gifts: Significant Other

Just because you’ve been laid off doesn’t mean you feel good laying off on giving. We’ve come up with a list of thoughtful, unique and inexpensive holiday gifts for every friend and family member.

Significant Other: $25 Experience
It’s more than likely your partner has interests, right? Maybe it’s cooking, maybe it’s fashion. (Maybe it’s something weirder that you really don’t feel like sharing with others.) Anyways, if your boyfriend/girlfriend/husband/wife is curious about anything, consider booking two tickets to the next panel discussion, cooking class or lecture that focuses on their passion. While cooking courses can get expensive, events at a local winery, kitchen store or community center often don’t break the $30 mark…

Skipping Christmas Showed Me the Holiday Spirit

I am a Christmas nut, a secret Santa, a baker, an opulent tree decorator, keeper of the flame from three generations of Italian daughters. So it surprised the Dickens out of my family when I announced in 2008: “I NEED to skip Christmas!”

So that I am not labeled the Grinch, realize that my kids were 20 and 24. They were, I believe, secretly overjoyed to go skiing and shuffle off to visit a roommate in Mexico City. But I had embraced Christmas so hard, for so long, that every member of the family questioned me vigorously: Did I really mean this? Would I be OK with just dad and the cats? Really–no tree, no nutcrackers, no greens, no wreath? …

Unemployment-Friendly Gifts: Your Favorite Kid

Just because you’ve been laid off doesn’t mean you feel good laying off on giving. We’ve come up with a list of thoughtful, unique and inexpensive gifts for every friend and family member.

Your Favorite Kid: Balloon Power Boat

If you love fun design, you’ll love Kid O, an e-commerce site that carries high-design toys…

Talking Money with Family at the Holidays

Whether this is your first holiday as an independent adult or the cord has long been cut, it’s only natural for parents to nag about finances when everyone’s together. Expect it. No matter your age, you’re still a child to them. But, your goal should be to show them that you’re not the same crazy kid who once blew a semester’s worth of babysitting money on trucker hats (and worse, considered it a fashion “investment”).

We’re talking about showing them financial maturity, which is comprised of three things:

• Awareness (having a plan and knowing where your money goes)
• Boundaries (sticking to your plan even under pressure)
• Responsibility (not sacrificing the future for the impulse of the moment)

Within that framework, here are six holiday dos and don’ts to help you be financially mature and demonstrate your status as a blooming money maven:…

Unemployment-Friendly Gifts: Your Best Girl Friend

Just because you’ve been laid off doesn’t mean you feel good laying off on giving. We’ve come up with a list of thoughtful, unique and inexpensive gifts for every friend and family member.

Best Friend (Or Sister, Daughter, Or Niece!): Lipstick Queen Fired Up Gloss
This gorgeous, fire-engine-red lip gloss will look good regardless of her complexion…

Recession Briefing 12.18: Christmas Wallets Opening Up

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

The average amount of money Americans predict they will spend on Christmas gifts this season is now $743, up from last month’s estimate and a healthy increase over Americans’ Christmas spending forecast at this time a year ago. (Gallup)

Are you wondering why you’re not getting as many holiday cards this year? The U.S. Postal Service says there was an 11% decline in cancellations of first-class cards and letters from Dec. 1-13 — when most Americans mail holiday cards — compared to 2008. (USA Today)

About 1.7 million homeowners were on the verge of foreclosure in the fall, a looming “shadow inventory” of homes that will be put up for sale in the coming years and weigh down prices, a report said. (Associated Press)…