How do you stretch your food dollars?

November 18th, 2013

http://eatocracy.cnn.com/2013/11/18/how-do-you-stretch-your-food-dollars/?iref=allsearch

Summary:  

In this article they talk about making the most of your food stamps since the recent cuts to the program.  One tip is just to go along the outer aisles of the grocery stores because that usually where they have cheaper items.  Another helpful hint is to grow your own veggies even if you only have a small area to do so in.  Cut meats are more expensive so buy the whole thing and also do as much scratch cooking as possible because premade foods costs more. Along with that cook, it's cheaper then going out to dinner. Another thing to consider is eat more foods that are high in protein because the keep you fuller longer. Also make a budget so you know how much to spend on food.  

My opinion:

I really think these are some good money saving tips even for people who aren't on food stamps.  This really helps to show that even with limited resources you can still stretch what you do have.  I know that it will be hard with the lack of money now due to the food stamps cut  but this way could be a little helpful.  The impact if the cut was much bigger then most people probably thought.  But I would also like to offer my own advise for money saving when in the grocery store: cut coupons because they're free money (but only for things you use) and for these people with cut benefits check out the local food bank.  These tips are usual for anyone trying to save a buck.  

Brooklyn Pantry Struggling to Help Fill Gap Left by Federal Cuts to Food Stamps

By Patrick McGeehan  Published: November 25, 2013

http://www.nytimes.com/2013/11/26/nyregion/brooklyn-pantry-struggling-to-help-fill-gap-left-by-federal-cuts-to-food-stamps.html?ref=welfareus&_r=0

Summary:

 Since $5 billion dollars were cut from food stamps, many New Yorkers had to turn to the local food pantries.  Because of this the Brooklyn pantry was running low on food so they needed to call in help. 19 skids come to stock up the pantry over night. They handed out over 1000 turkeys for Thanksgiving but they ran out, leaving chicken and ham as substitutes. Many people in the area are very thankful for the pantry.

Opinion:

 I know that if we want to make a dent in our debt programs need to be cut but it's really hard to hear about all these people suffering for this reason.  But now that there  has been a cut made to food stamps these people need to get their food from somewhere because they don't have the money to pay for it. The food pantry is the obvious answer. Now the items at the food pantry are in such high demand that the pantry almost ran out of supply.  The staples are going fastest which shows how inelastic core foods are because there aren't really substitutes for them.  I hope that people keep reaching out and donating to the food pantry to help all of these people.

The Best Budgeting Strategies for People Nearing Retirement

By: Geoff Williams Publish: November 18, 2013
http://money.usnews.com/money/personal-finance/articles/2013/11/18/the-best-budgeting-strategies-for-people-nearing-retirement

Summary: 
A couple ages 59 and 60 were looking forward to their early retirement before the great recession hit.  Both were hard working and earn a goof bit of money and invested a large portion of their savings into their 401K and stocks.  The husband sold his company and went into semi-retirement and the wife left her job to pursue he hobby of breeding terriers.  Life was comfortable.  But in a few years they watched as their savings were dwindling down to nothing.  They know the dream of early retirement was far out of their reach at this point.  The couple decided to start up a business to help their retirement.  The wife became a veterinary assistant, an animal behaviorist and a professional dog trainer.  The couple decided to open up a dog park, training and grooming center. Their business generates income for them and continues to do so until they decided to sell or whatever but some months its making a profit, loss or just breaking even.  Based on this story here is a couple tips based on this couples experience for those newly retired or nearing retirement.  First is to look at your investments if you have any and if so shift them to more conservative investments this will supply a fairly reliable steady stream of income.  Second is to hold off on collecting your social security benefits if possible, this will generate more money when you do collect and you can get more out of it.  It'll maximize income. If your married also try to hold back from receiving your social security benefits, by holding off you maximize your and your partner's benefits.  Third you should plan to get sick, which may not sound good but this way you can be prepared by purchasing long term health insurance. Benefits are all different, be sure you find the one that is best fit for you.
Opinion:
I feel horrible for these people but the economy is never a for sure thing.  It's really good that they are making their experience into a way to help others by getting their story out there. They mentioned that their business's income changes which shows that their business is elastic.  They probably should have tried to enter a more certain market. I think that the tips provided are good ones.  Investments shouldn't be as risky if your retirement is riding on them. One must consider the opportunity cost of holding off on collecting their benefits.  You could have the money right away but then you won't maximize what you get out of it.  this article really brings up some good points and I thing everyone should really weight the benefits of each one of their options before moving forward with whatever they choose.   

Same-Sex Couples Are Urged to Apply for Social Security Spousal Benefits

Publish September 17, 2013  By: Ann Carrns
http://www.nytimes.com/2013/09/17/your-money/same-sex-couples-are-urged-to-apply-for-social-security-spousal-benefits.html?ref=socialsecurityus&_r=0

Summary:
The IRS decided that same sex couples regardless of where they live, if the pay income tax, married means married so they recognized same-sex marriage.  Social security hasn't come to the some conclusion concerning benefits.  With that being said they are urging same-sex couples to apply for social security even if the state in which they live doesn't recognized their marriage.  They aren't just urging couples with a same-sex marriage but also other legal partnerships such as civil unions and domestic partnerships.  These couples are advised to apply asap because they are eligible they can receive benefits that are retroactive to the filing out date.  Social security offers a range of benefits to families like filing for retirement based on your spouses work record. There's also the surviving spouse benefits if the other passes.  Social security's website saying its processing same spousal claims and will pay them when due, however social security uses " place of residence" when deciding the benefits and that maybe tricky if the marriage isn't recognized in the state which the same-sex couples lives.  Even of the couple is denied for the surviving spouse they can still fight it in court. 
Opinion:
I think that if a same-sex couple's relationship is recognized by any legal form they should be allowed to collect the same benefits a straight couple does.  If we preach equal right I don't know why there is still such a fight for same-sex couples. They work just as hard as everyone else they deserve benefits.  Plus being homosexual isn't a choice.  No one woke up one day and was like hmmm today I'll be a homosexual.  I don't know why some people have such an issue with this. I really hope that they do get the same benefits as straight couples. They deserve it.  Plus since the demand for social security is going up that'll be more money circulated through the economy which is ultimately a good thing.         

The Payoff in Waiting to Collect Social Security

Publish November 15, 2013 by Tara Siegel Bernard
 http://www.nytimes.com/2013/11/16/your-money/the-payoff-in-waiting-to-collect-social-security.html?ref=socialsecurityus&_r=0

Summary:
Instead of  collecting some of your social security benefits at age of 62 it actually pays to collect benefits at a later age.  The extra money you earn you while working means you'll get more money in benefits later when you get social security.  This means more income for retirement.  Depending how long you delay receiving your benefits you can save 6% or more of the saving used to produce that income.  You would get the income raising with inflation, for no risk.  Delaying the benefits requires leaving a lot of money on the table, which for some people is too much to resist or they just need it to live.  People with health problems though should start collecting right away.  Consider this example, if a 65 year old man collects $12,000 but if he would wait until he is 66 to start collecting social security he would receive $12,860 instead.  If he had to buy his extra $860 in income he would have to pay $22,500.  This way he is guaranteed a 6.7% return on his "investment" by waiting a year to collect his benefits. Now if this same man could afford to wait until he is 70, those five years would generate $17,000, which is $5,000 more then if he collected right away.  Waiting is even better for married couples because if one passes the other will get those benefits.  So waiting to collect your social security if you can will be better in the long run.
Opinion: 
I feel that waiting to collect social security is the smart thing to do if the returns are really that much higher.  It really would be worth while.  However I can see why people would want to collect right away, they feel if they paid into the system they want their money.  Elderly people may not be able to save and wait to collect either though with health problems because medical expenses are very high.  The cost of living is high as well so they may have to collect to live comfortably.  But considering that couples have a larger payoff by waiting is a good point.  The benefits for your loved ones would be much greater as well.  I think that waiting to collect your benefits is a good thing as long as you can afford to do so.  the opportunity costs must be weighed before the people choose what  they would like to do because they may need the money or want if right away but if they wait they maximize income.    

Census Bureau: Means-Tested Gov't Benefit Recipients Outnumber Full-Time Year-Round Workers

October 24, 2013 - 11:32 PM

Terence P. Jeffrey
http://cnsnews.com/news/article/terence-p-jeffrey/census-bureau-means-tested-govt-benefit-recipients-outnumber-full

Summary:

According to the census bureau there were more people receiving government aid than full time worker.  The number of people receiving assistance is larger than the population of the Philippians.  These numbers are from the average so the most popular programs and the program people were most commonly on.  When other programs are taken into account the number rises almost by seven million.

My opinion:      

I have mixed feelings on this report.  One side of me, when I read this article the first time, I was horrified.  I couldn't believe that so many people were receiving government hand outs.  How could our country promote such a entitlement society?
Now on the other hand, considering and reflecting on what I just read, some of the assistance programs are just like medicare just health care not just public housing and food stamps because people don't want to work.  This also did not take into account people receiving public assistance but also work.  This article is I would say is probably bias.      

When Welfare Pays Better Than Work 

http://nypost.com/2013/08/19/when-welfare-pays-better-than-work/
Micheal Tanner  August 19, 2013

Summary:
There are 126 separate government programs targeted to help low income families, 72 of these programs  provide  families with money and benefits.  A study conducted by Cato Institute showed the break down of welfare state to state.  Someone in New York would need to make over $21 an hours to be better off than someone in New York on welfare, this is more than the entry level salary of a school teacher.  Most of the time going back to work would be more costly than being on welfare.  Nation wide the study found that the wages and benefits for a person with 2 children rage form as high as $60,590 to as low as $11,150.  It is stated that there is no proof that anyone on welfare is lazy but they sure aren't stupid, if you pay them more not to work they surely won't do so.  

My opinion:
Welfare is intended to help people which it does by providing them money to get them through.  Welfare is an amazing concept which shows how much our country wants to step up and help.  I feel bad for those who truly need the assistance because the ones who take advantage gives people on welfare a bad name, which is horrible. Most states do provide over minimum wage for people.  In the case of Idaho were someone on welfare with two children only receives $11,150 which is not enough to provide for a family.  In the case of Hawaii a family receiving $60,590 is cray that is too much money which will never make people want to work.  I think that there should be a set amount of money provided by each state so that there is no extreme unfairness in the system and this could save money for the government as well.

Study:  Welfare Pays More Than Minimum Wage In Most States

http://www.foxnews.com/politics/2013/08/21/study-in-most-states-welfare-pays-more-than-minimum-wage-job/

Published August 21,2013  Foxnews.com

Summary:

  Minimum wage in Americas $7.25.  There has been talk of raising minimum wage is $9.  This article talks about the fact the 35 states pay more in welfare than people working and getting minimum wage.  13 states pay over $15 dollars per hour.  9 states pay as much as a starting teachers salary.  6 states pay as much as a starting computer programmer.    Long story short people on welfare are getting paid a lot.

My opinion: 

 I think that welfare does a lot of good and helps many family and people in need, but with that being said there is way to much money going in to fund welfare.  So money people abuse the system and do not need welfare in the first place.  I wish I got paid large sums of cash for doing nothing and sitting at home.  Heck if I was getting paid as much as a computer programmer I would never try to find work. There is no incentive to work anymore.  People on welfare aren't just getting enough for basic,s they're getting more than enough for luxurious items too.   America is creating nothing but an entitlement society.  No wonder obesity is bad, people get to sit on their butts all day and rake in the cash.  Now on the topic of raising minimum wage, people should not get paid a lot for a job requiring minimum skills, however minimum wage should keep up with the rates of inflation so working Americans can keep up with this economy.  

House to vote on big cuts for food stamps

 http://www.foxnews.com/politics/2013/09/19/house-to-vote-on-big-cuts-for-food-stamps/#ixzz2fNTpkoR2
Published September 19,2013/ The Associated Press

Summary:
The house is to vote on a bill, which is supposed to cut money for the food stamp program.  The cuts would amount to $4 billion dollars to the $80 billion dollar program.  1 in 7 Americans, more than 47 million people, receive food stamps. The cuts are to be aimed towards fully-able adults without dependents on this program. This bill was vetoed by the president.  Democrats a opposed to cuts period, the republicans are split, but the conservatives support the cuts. The house seems to be split and it is assumed that if the bill is passed it will never become a law.

Opinion:

The rule with food stamps is if you don't use it, you lose it, which then in encourages people to spend and buy more then they need.  I personally know a woman who receives food stamps, she would buy milk and other groceries not only for herself but for her neighbors with her food stamps because she didn't want the lose the assistance she receives.  Other stories I have been told are about people buying lobster tail, shrimp, filet mignon and other high end foods with food stamps.  The article states that the fully-able adults without dependents would be targeted for the cuts, what is any fully-able man or woman without children doing on food stamps? Now this isn't to say that food stamps aren't a good thing because they are and help a lot of people, the thing is the system is abused and needs to be cut back so necessities are bought not luxuries. 

Despite veto override, McCrory says he won't carry out welfare drug testing

Associated press/ September 04, 2013

  http://www.foxnews.com/us/2013/09/04/despite-veto-override-mccrory-says-wont-carry-out-welfare-drug-testing/#ixzz2eQ2pFRZ2

Summery:
The law to drug test those on welfare was vetoed, however the senate overrode the veto overwhelmingly with a vote of 34:10.  The one governor Pat McCrory wanted nothing to do with this law and says he  was not given enough money to do so; therefore, will not carryout the welfare drug testing. He said that the drug testing would require an extra $300,000 dollars aside from the $145,000 that was put aside to carry out this new law.  McCrory is receiving a lot of negative feed back for his statements.  Governors are sworn under oath in ordered to make sure that the laws are followed, yet until he receives more money he says he will not carry out this law.  The law will not be put into place until the next summer.

Opinion: 
I feel as though one must be out of one's mind not to support this law.  Public assistance programs are financed by tax payers. If the people receiving public assistance are taking advantage of the system and using the tax payers money to buy drugs they deserve to be cut off, and I don't know of any tax payer who would like to pay for drugs with their hard earn cash to fuel someone's drug problem when it could be going to someone who is really in need.  I feel as though the governor is completely out of line refusing to participate in seeing that the law is followed, especially because that is his job.