The Penny Pinching Year
I’ve jumped on the living frugal bandwagon and am trying to live my life pinching pennies wherever I can. I’ve gone to the energy efficient light bulbs. I try to buy in bulk, although I really hate having stacks of too much stuff laying around. We’ll use it eventually, though. I read Being Frugal at least once or twice a week. I’m also a fan of Brip Blap for their little tips and ideas.
Even with all the corners I’ve had to cut to make ends meet in these long, dry days as a Realtor, it was disconcerting to read today about home prices dropping 19 percent last month. Deeply disturbing, in fact. Since mortgage companies really are not working with home owners as they say they are, my advice is for homeowners to just sit tight if they can and pay that mortgage down before you think about selling.
Meanwhile we are penny pinching at my house. In preparation for a yard sale this weekend, I went through some cabinets and closets and found several items of value. I’m thinking all homes have these kinds of hidden treasures that you’ve forgotten about. For a quick determination to see what something is worth, check it out on eBay. While the amount may not be what you’d get at a Sotheby’s Auction, the eBay auctions will give you a great idea of what Mr. an Miss Everday will spend for something.
Start digging and you may also find old savings bonds that could be cashed in. Additionally, every state has an unclaimed property division that holds unclaimed assets that the law requires banks and other financial institutions to turn in after so many years of no contact with the original owner. From Business Week,
In addition, at the end of 2008, there was more than $32 billion in unclaimed money sitting in state treasury coffers across the country, according to Shane Osborn, treasurer of Nebraska and president of the National Association of Unclaimed Property Admimistrators (NAUPA), a nonprofit organization affiliated with the National Association of State Treasurers. Unclaimed property accrues from a wide range of sources, including final paychecks that employees never collected, abandoned bank accounts, stock and bond certificates put away in safe deposit boxes or hidden under floor boards in homes, consumer product rebate checks, and utility deposits. Some of the money will never find its match, such as unused gift certificates at retailers which aren’t required to keep records of who bought them.
You can see if your name or your great grandpappy’s name is on the list through the state links provided by NAUPA here. By the way, I used to work for this organization when I was affiliated with the National Association of State Treasurers and can vouch that it’s a great organization whose members strive to reunite owners with their property.
Good luck - I hope your penny pinching works and your search for unclaimed property uncovers a treasure trove!
