Family Finances

By Bruce Watson
Daily Finance

Strolling through the household cleansers section of a grocery store can sometimes seem like a trip through a chemical wonderland, a cross between Willy Wonka's factory and a high school science lab. Multicolored potions peek from hundreds of bottles and lurid labels advertise the latest miracle cleansers. Bizarre and beautiful brands abound: Some claim to be they're easier on the environment, others promise that they won't harm your family. All seem to guarantee that they will make even your toughest stains disappear.

It would be natural to yearn for something simpler -- a few household cleaners that are effective, not too expensive, and not too rough on the environment. The wonderful thing is, these cleaners exist, and have existed for decades. They are, in short, the tried-and-true brands that your mother and grandmother used.

In the search for cleaner, healthier homes, it's easy to dismiss the harsh chemicals of the past. Yet, it's also worth noting that the active ingredients in many popular cleaners -- things like ammonia and borax, alcohol and vinegar -- are basically the same things that grandma used, albeit with the addition of lots of water and a little food coloring.

And therein lies one of grandma's secrets: Filling bottles with water and shipping them across the country is expensive, and the manufacturers charge you for the extra gas. If you add the water from your tap, instead of relying on Windex and Mr. Clean to do so, you can save a lot of money. As an added plus, you're also cutting down on the gas used to ship your products around and the number of harsh chemicals that you're adding to the environment.

By Matt Brownell
Daily Finance

Inside Walmart's (WMT) annual shareholders' meeting in Fayetteville, Ark., there's plenty of star power and entertainment.

Actor Hugh Jackman is serving as master of ceremonies. Entertainment for the day is being provided by Kelly Clarkson and Grammy-winning singer-songwriter John Legend. Tom Cruise showed up to talk about corporate social responsibility. CEO Mike Duke presided over an on-stage soccer exhibition using one of the retailer's ubiquitous rubber balls (two for $3!). And of course, executives have delivered sales figures and projection to cheering crowds of shareholders and associates.

But it's not all glitz and glamor. This year's shareholders' meeting comes at a time of turmoil for the world's largest retailer, which finds itself dealing with empty shelves, labor unrest, bribery scandals and tumbling sales.

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By Dan Caplinger
The Motley Fool

Many Americans struggle to make ends meet during their retirement. A third of all retirees now get 90 percent or more of their income from Social Security, according to figures from Boston College's Center for Retirement Research. For those who are fortunate enough to own their homes, a reverse mortgage can be an option that can supplement Social Security and other income sources.

Reverse mortgages get their name from the fact that the stream of payments goes the opposite direction from what homeowners are used to. Rather than you making monthly payments to your bank, the lender sends the money back to you.

It's a simple way for retirees to tap their home equity without the risk of a conventional mortgage or having to sell their homes and move to less expensive housing. But before you decide it's right for you, you need to understand exactly what you're getting into.

Here are five facts that are essential to know for anyone considering a reverse mortgage.

By Michele Lerner
Daily Finance

Did your new high school graduate just rake in a few hundred dollars from congratulatory friends and family? Birthdays, bar and bat mitzvahs, and confirmations can also be quite lucrative for kids.

Money gifts can be both a blessing and a curse depending on the age of the recipient and the money personalities of the parents and their offspring. While clearly an infant has no say in what happens to funds given in honor of her birth, older children may balk at having their gift cash controlled by their parents.

On Wednesday afternoon, the winner of the largest sole jackpot in U.S. lottery history stepped forward to claim her winnings. Gloria C. Mackenzie, 84, bought the winning $590.5 million ticket at a Publix supermarket in Zephyrhills, Florida.

Mackenzie will take a lump-sum pretax payout of $370 million. And while the odds of winning that much money are steep -- 1 in 172.5 million in this case, according to one estimate -- it's not uncommon for people to come into a sudden windfall, such as an inheritance.

By Lynnette Khalfani-Cox
Daily Finance

Have you ever wondered how to establish financial boundaries with relatives and friends? If so, you're not alone.

As a Money Coach, I'm constantly asked for suggestions on how to put an end to the money-draining behavior of family members and friends.

Well, this may come as a shock to many of you who keep getting approached for financial handouts, but the problem isn't the person asking for money. The problem is you: the person who keeps doling out the cash, over and over, vainly hoping that it will be the last time.

By Eamon Murphy
Daily Finance

In addition to having finally attained economic mastery of Europe -- by some accounts, at least -- Germany is home to the world's best tippers, according to a survey by the travel website TripAdvisor (TRIP).

TripAdvisor asked 9,000 vacationers from eight countries answer questions about their tipping habits, with 69 percent of Germans saying they always add a gratuity while traveling, while 57 percent of Americans said the same.

Here comes the... credit card bill... Weddings can be terrific events though we've all experienced the long-winded, awkward speeches, table seat politics and the one drunk guy hitting on all the bridesmaids. As wedding season ramps up we're dealing with multiple invitations and demands on our time and pocket books. But who doesn't love the romance and promise of two soulmates tying the knot? If you're intent on going to every single wedding event this year, here are some tips to keep costs in check so you can enjoy eating pink frosted cupcakes without feeling the great weight of debt.

1. Save on Getting to the Destination
If you're being asked to get on a plane and travel somewhere to witness someone's special day, save by using points towards your airfare if you've got a rewards card (or perhaps your partner or another family member does and wouldn't mind helping you out). You also can make use of services like hotwire.com or expedia.ca where you can take advantage of discount travel packages. Be aware of any corporate hotel rates available to you or your partner through work.

Selling your home can be stressful and, like most things, it's what you don't know that can cause the most grief. Asking the right questions before you hire a real estate agent will prevent unpleasant surprises from happening later.

Here are five things real estate agents won't tell you unless asked.

According to the Canadian Toy Testing Council, these are the toys that are hot this summer. As you will see, old favorites have endured from generation to generation, while some new incentives to get kids outside and active have arrived on the summer scene.

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Marlene Alexander is a freelance writer who enjoys searching out the best the dollar store has to offer. Visit her website for tips and ideas on decorating with dollar store finds.