Aaaand, I'm back! Sorry to leave you hanging in the middle of a series, but we went on vacation!! I realize that might seem like an oxymoron- in the middle of me posting about saving money we went and spent a bunch on a road trip to California and back. BUT we had it all planned out to go and factored up the cost to decide if it was feasible to do it in the first place. :) It was amazing and there will be more to come about that soon! But let's get back to business over here.
If you need to catch up, here is Part 1 and Part 2.
Week 6 - Buyer Beware
This was a rather short lesson, but very useful. Companies attack you from many angles to intrigue you into buying their products. They have many tactics such as product positioning in stores, TV and other media, and also financing as a marketing tool ("only 3 easy payments of $29.99!").
But, Dave says, you can always spend more than you make, so you must develop a power over purchase. To do this, use these steps, especially when making major purchases:
1. Wait overnight before making a purchase.
2. Carefully consider your buying motives. (No amount of stuff equals contentment or fulfillment!)
3. Never buy anything you do not understand!
4. Consider the opportunity cost of your money.
5. Seek the counsel of your spouse, if applicable.
Don't chase happiness with money; happiness is where you are right now!
What I learned from this lesson: Very true words were spoken here. I've definitely gone through phases (read: stress from school) where I would swing by a store on the way home from a bad day and buy myself a new top or something in the mindset that it would make me feel better. Not true - those feelings are only temporary (read: until tomorrow the next stressful school day... or tomorrow).
Jesse and I are both "researches" when it comes to buying, so we frequently abide by #1, and we rarely buy anything without doing #5 (even small purchases). Number 3 I liked and took it 2 ways: it is always worth reading the fine print to know what you are getting yourself into, and also check your options even on smaller items. For example, we just bought a cooler for our road trip, but we made sure to check our options and understand the differences between brands, sizes, etc. to get the best bang for our buck.
Week 7 - Clause & Effect
This week was a biggie. Dave covered the 7 basics types of insurance coverage: home, auto, health, disability, long term care, identity protection, and life insurances. Since this was a long lesson, I will briefly tell you what Dave suggested what the best thing to do with each and leave it up to you to look into it further if you want. I'm not a pro at this, and still have a lot to learn myself since I haven't had to deal with all of these yet personally. Please comment if you have questions or need clarification, or if you disagree and will explain why, I'd love to hear your opinion.
Purpose of insurance is to transfer the risk of a big event you can't handle on your own to someone else.
Home owner's/Renter's Ins - To keep your premium low, raise your deductible. This is possible if you have a full emergency fund. However, when you raise your deductible you are also increasing your own risk (meaning you are responsible for more of the cost if something does happen). Therefore, you should consider your risk and determine if it's worth raising your deductible to save on your premium. Also get a "guaranteed replacement cost" not an "extended" this will replace the house even it it's worth more than you paid. And extended replacement plan will not cover the full replacement cost, so you must update it each year to make sure it covers the value of your house.
Auto - Always have at least $500 property liability. Consider dropping collision on your car if its value is $6000 or less. However, unless you can write a check for a new car, don't drop collision.
Umbrella policies (home + auto) are good and often help save money.
Disability Ins. - You need this. Buy a plan that pays if you cannot perform tasks of your occupation = "own occ" plan. Beware of policies that do < 5 yrs (short term, 3-6 months, should be covered by your emergency fund). If your work offers this, buy it! Try to get 65% of your current income; buy with after-tax dollars so when it is paid back to you it is tax-free- you can live off of 65% off you previous income, which is close to what you bring home after taxes anyway. Also check the "elimination period" - the time between disability event and when they first start to pay - the longer the elimination period the lower your premium; if you carry a full emergency fund you can risk a longer elimination period.
Long-Term Care Ins. - This is to provide assisted living/nursing home care (or a better plan will provide in-home care). Do not waste your money on getting this until you 60th birthday, then get it! Before 60 your risk of needing a nursing home is low. The cost of a nursing home is very high, and will suck through most of your savings without a Long-Term Care plan. The last 6 months of your life could be more expensive than a decade of your life, prepare for this for yourself and your family!
Identity Theft Protection - You could spend 600 hours of your time working on this. Don't get a plan that just monitors your credit- you can do this yourself! Get one that includes restoration services to clean up the mess for you!
Life Ins. - to replace lost income due to death; most people have no idea what they own! There are 2 kinds: "Term" and "Cash-value." Only do Term Life (also called "term") - it is offered for a specific period of time, is cheaper, and does not provide a savings plan. Cash Value (may go by other names) is more expensive and funds a savings plan, however, it has a crummy rate of return; the insurance policy keeps the cash value you've paid in (what goes into the "savings plan" they advertise) and only pays the face value of the plan; a bad plan! Instead, do a Term policy and invest the extra you would spend on a Cash-Value policy into a mutual fund - you come out way better in the end! Your plan should be 10 times your current income so that when the insurance policy gives 10% of the total policy it will be your current income.
Always take out enough to cover your spouse as well.
Health Ins. - Again, the key here to keeping cost low is to increase your deductible (or increase your co-insurance or maximum out of pocket cost). Co-insurance is often set up 80/20 (they pay 80, you pay 20%); if you take more of the cut, they take on less risk and it lowers your premium. "Stop loss" is your max our of pocket amount; increase this to decrease your premium. If your stop loss is $10,000 you would pay you deductible + your 20% of the 80/20, then after you pay $10,000 they will pay 100%. Dave's theory is that you shouldn't be worried about a $10, $15, or even $20,000 event if you have a full emergency fund. NEVER decrease your max pay - do not decrease the amount they will pay you, you may need this in case of expensive events such as chemotherapy. The best option for health insurance is an HSA (Health Savings Account) plan, which is a tax-free savings account that you can spend on medical expenses; it is paired with a higher deductible insurance policy and is often covered 100% after the deductible.
Insurance Policies to Avoid: Credit Life and Disability, Credit Card Protection, Cancer and Hospital Indemnity, Accidental Death, Pre-paid Burial policies (he suggests saving for your burial if you'd like, but don't pay into a policy to do it for you and don't pay for it until it happens).
What I Learn from this Lesson: This lesson was very informative for me. I knew nothing about life insurance or disability insurance before this, and his explanation of Health Insurance was also very good. Being in the healthcare field, I've learned that many people have no clue about their health insurance. Many think that just because they are paying into it the insurance policy should cover anything they need done. They also don't understand what their deductible is. And another 2 cents: it is not your doctor's office's responsibility to figure out your copay; many offices do this as a courtesy because it makes their life a little easier. Learn about your plan, you are paying for end! (End rant now.) This lesson helped us realize we needed to reevaluate what we currently have, and informed us of plans we will need for the future.
Week 8 - That's Not Good Enough
This lesson was all about how to get the best bargain. Dave suggests making getting a bargain a way of life. Remember: everything is negotiable - at some point everything you want to buy is on sale. He gave 7 steps to negotiation:
1) Always tell the truth. 2) Use the power of cash. 3) Be willing to walk away! (When you aren't, you've lost the ability to negotiate.) 4) Shut up. (Ask questions to gather information; silence is powerful and makes people feel awkward so the seller will likely ramble and fumble and talk himself down without you having to put much effort in). 5) Don't be afraid to say "that's not good enough." 6) Beware of the good guy (salesman)/bad guy (manager) approach. Go straight to the "bad guy." 7) Use the "If I... [buy this/do this], then you..[make deal better/throw this in]." They often will make this type of deal with you, or will come down off the initial price.
Other tips:
Always be patient.
Learn where to find the deals; a little effort up front will save you in the long run.
Trade something of value that you current have or a skill you can do/service you can provide.
Buy from individuals.
What I learned from this lesson: It was fun to hear Dave talk through this lesson. He shared several stories of his personal experience negotiating for products, including embarrassing his wife while buying her new a new washer/dryer set. He seems to be quite the pro at this, and the key appears to be confidence. I've not had too many experiences with situations to negotiate for products, but I do seek out deals and will decide on a product and wait for its price to drop before purchasing. I have also couponed a good deal in the past, and while it does take some time it is worth it (if you have the time to spare... right now, not so much for me).
I realize these posts are getting long. I hope some of you are enjoying them, and benefiting from them. I expect there to be at least one more, maybe two. These are a pretty good summary of what I learned from the program, but they are all inclusive. Please take some of his suggestions to mind, especially about insurance policies and then research on your own some to determine what is best for you.
Showing posts with label Saving money. Show all posts
Showing posts with label Saving money. Show all posts
Saturday, August 16, 2014
Tuesday, July 15, 2014
Financial Peace - Part 2
Week 3 - Budgeting
Dave is VERY big on budgets. Why? "A budget is telling your money what to do; not letting your money tell you what to do." Aka- not getting to the end of the month and wondering what happened to all of your money. Dave's preferred budgeting tool is a "zero-based cash flow plan." This means that you should write out where every dollar of your paycheck goes before you spend a penny of it. This way, you control your money. You have then allocated every dollar to where it should go, leaving a zero balance at the end.
As I'm typing this I am watching the Today Show, and a segment just reported that nearly 70% of Americans live paycheck-to-paycheck (even with annual income figures up to $100,000)! Newsflash: we are not managing our money, our money is managing us!!!
Now, a cash-flow plan will not work if you leave things out (don't forget, and don't hide things from your budget!), you make it over-complicated (too many categories on your budget sheet!), you don't do it, or you don't actually live on it (duh).
To begin, fill out Dave's Quick-Start Budget HERE to get an idea of where your money is going.
Then work on your cash-flow plan with these forms HERE.
Your budget may (and likely should) change from month-to-month. Dave realizes this, and expects you to do a new budget at the beginning of each month, especially as you get started and learn where and how to tweak your budget to suite your needs better. And, if there is any money left over at the end of each month, it should go towards your emergency fund (or other investments that come later).
How do you abide by your budget? use the cash envelope system. This is it's own lecture from Dave, but I'll be brief. For each category of your budget you have an envelope with the allocated amount of cash. If you run out of money in that category/envelope you are DONE for that month in that category. Do not move money from one envelope to another. Whatever you have leftover in any category goes into saving/emergency fund. Plain and simple.
What I got from this lesson: Budgeting is very important, and we were not doing enough of it. This was a very straight-forward lesson, and you really just follow the forms to set up a budget.
Week 4 - Dumping Debt
How do you manifest peace in your finances? Get rid of all of your debt! Imagine how wonderful it would be to alleviate that burden, and to owe nothing to no one.
Here are several myths Dave delivered for us to consider:
Dave is VERY big on budgets. Why? "A budget is telling your money what to do; not letting your money tell you what to do." Aka- not getting to the end of the month and wondering what happened to all of your money. Dave's preferred budgeting tool is a "zero-based cash flow plan." This means that you should write out where every dollar of your paycheck goes before you spend a penny of it. This way, you control your money. You have then allocated every dollar to where it should go, leaving a zero balance at the end.
As I'm typing this I am watching the Today Show, and a segment just reported that nearly 70% of Americans live paycheck-to-paycheck (even with annual income figures up to $100,000)! Newsflash: we are not managing our money, our money is managing us!!!
Now, a cash-flow plan will not work if you leave things out (don't forget, and don't hide things from your budget!), you make it over-complicated (too many categories on your budget sheet!), you don't do it, or you don't actually live on it (duh).
To begin, fill out Dave's Quick-Start Budget HERE to get an idea of where your money is going.
Then work on your cash-flow plan with these forms HERE.
Your budget may (and likely should) change from month-to-month. Dave realizes this, and expects you to do a new budget at the beginning of each month, especially as you get started and learn where and how to tweak your budget to suite your needs better. And, if there is any money left over at the end of each month, it should go towards your emergency fund (or other investments that come later).
How do you abide by your budget? use the cash envelope system. This is it's own lecture from Dave, but I'll be brief. For each category of your budget you have an envelope with the allocated amount of cash. If you run out of money in that category/envelope you are DONE for that month in that category. Do not move money from one envelope to another. Whatever you have leftover in any category goes into saving/emergency fund. Plain and simple.
What I got from this lesson: Budgeting is very important, and we were not doing enough of it. This was a very straight-forward lesson, and you really just follow the forms to set up a budget.
Week 4 - Dumping Debt
How do you manifest peace in your finances? Get rid of all of your debt! Imagine how wonderful it would be to alleviate that burden, and to owe nothing to no one.
Here are several myths Dave delivered for us to consider:
- Playing the lottery (or gambling) will make me rich.
False: Gambling preys on the poor. The lottery is not filled with rich people. Those without high school diplomas spend ~$173/month gambling, while those with high-school diplomas spend ~$49/mo. This money is likely to all go to waste, when you could have invested it and let it grow over time. - Car payments are a way of life, and you will always have one.
False: Stay away from car payments by buying used, reliable cars. Never buy new! Ideally, save for a used car, pay in full with cash. Then take the money you would use for a car payment each month and invest that. The average car payment is $464/mo - at age 30, if invested with a 12% interest rate can result in $5.5 million by age 70! - You'll take out a 30-yr mortgage and pay extra.
False: Life happens, and you will likely not pay extra. Dave recommends only taking out 15-yr mortgages, and keeping your mortgage payment below 25% of your take-home pay. - You need a credit card, especially to do things like rent a car or buy things online.
False: You can do everything you need with a debit card, these days. One of Dave's favorite things to do is cut up credit cards so you will stop using them. Those that use credit cards spend ~16% more than those that pay with cash (even if you pay off your balance in full each month).
How to get out of debt: Stop borrowing; Learn to save; and work hard to remove the debt, even if that means taking on a (temporary) extra job!
Dave's guide to getting rid of debt is the "Debt Snowball." You list all of your debts from smallest to largest. Pay the minimum on all debts, except the smallest one which you should work the hardest to pay on. Once the smallest debt has been tackled, apply what you were paying to add to the next debt's payments so that you are tackling those harder now too. And so on. HERE is that form. Doing it this way is motivating as you pay off smaller debts, and then even larger ones!
What I got from this lesson: Becoming and staying debt free is the key to wealth-building. Dave's steps seem like a great plan to tackle debts one step at a time. Again, this takes effort, but it's all worth it in the end! Plus, paying off your debts and avoiding future debts allow you more freedom with your money - you can give more and enjoy vacations or other memorable activities.
Week 5 - Credit Sharks in Suits (Understanding Credit Bureaus & Collection Practices)
Dave hates the "credit score" or FICO score - a faulty standard that is based on debt, not wealth; based 35% on your debt.
You cannot repair your credit; only inaccuracies can be removed. And 79% of credit reports contain mistakes of some kind. Beware of credit "clean-up" scams - it is illegal to remove accurate data.
He discussed identity theft and what to do if that happens. You can read his advice HERE.
If you are in a bad situation and have debt that is being collected (Dave has been there himself), he gave the following advice:
- Debt collectors are not your friends. Their job is to get the money you owe them, however they will use many emotional tactics to do so.
- Know about the Federal Fair Debt Collection Practices Act (1977), which basically protects you from unfair collectors (you can demand they only call between 8am and 9pm, and not at work). Also no creditor or collector can take your bank account or garnish wages without proper and lengthy court action (except in cases of delinquent IRS or student loan debt) - other threats such as these are bluffs. A "cease and desist" order allows you to insist the creditor stop all contact except to notify of lawsuit proceedings - but do NOT do this unless your situation is horrible because all negotiations will stop and a lawsuit is likely.
- So what do you do if you're in over your head? Your plan should include as much prompt repayment of debt as possible, but you must set your priorities (food, shelter, clothing, transportation).
What I learned from this lesson: Even if you feel like you have dug yourself into a big hole of debt, there is still hope and a way out. The point of this lesson was just this, and not to find ways to avoid creditors or paying your debts. I hope to never have to deal with this, but I enjoyed getting this bit of knowledge about this situation.
You cannot repair your credit; only inaccuracies can be removed. And 79% of credit reports contain mistakes of some kind. Beware of credit "clean-up" scams - it is illegal to remove accurate data.
He discussed identity theft and what to do if that happens. You can read his advice HERE.
If you are in a bad situation and have debt that is being collected (Dave has been there himself), he gave the following advice:
- Debt collectors are not your friends. Their job is to get the money you owe them, however they will use many emotional tactics to do so.
- Know about the Federal Fair Debt Collection Practices Act (1977), which basically protects you from unfair collectors (you can demand they only call between 8am and 9pm, and not at work). Also no creditor or collector can take your bank account or garnish wages without proper and lengthy court action (except in cases of delinquent IRS or student loan debt) - other threats such as these are bluffs. A "cease and desist" order allows you to insist the creditor stop all contact except to notify of lawsuit proceedings - but do NOT do this unless your situation is horrible because all negotiations will stop and a lawsuit is likely.
- So what do you do if you're in over your head? Your plan should include as much prompt repayment of debt as possible, but you must set your priorities (food, shelter, clothing, transportation).
What I learned from this lesson: Even if you feel like you have dug yourself into a big hole of debt, there is still hope and a way out. The point of this lesson was just this, and not to find ways to avoid creditors or paying your debts. I hope to never have to deal with this, but I enjoyed getting this bit of knowledge about this situation.
Tuesday, July 8, 2014
Financial Peace - Part 1
A couple of months ago I finished going through Dave Ramsey's Financial Peace University 13 week program with a group from church. The program was great, and while it is full of common sense practices it still has plenty of information for people in all financial situations. It is not just a program for those with tremendous amounts of debt to pay off, and it is also not just geared towards those with plenty of money ready to invest- it is for everyone! I learned a lot from the program and took a lot of notes. I wish everyone could go through this course to learn how to be smarter with their money. Just check out some of the current figures of the average American:
Dave has lots of materials and options for his programs, from books and online tools to DVDs; group and home editions, etc. But he charges for most of them (a bit too much in my opinion, considering he is aiming to help your financial situation... but it's made him a billionaire, so....) I wanted to summarize each lesson for you in case you can't get your hands on the actual program. (I believe there is a newer edition than what we did, but I'm sure the principals are all the same; some titles may be different).
There are some free resources and worksheets you can find HERE (or surf around the web yourself for pdfs from workbooks).
How we entered the program: I'll be honest and say that we are in the best financial situation we have been in, single or married. With Jesse having a full-time job bringing in more than minimum wage, we have moved up from our first year of marriage. However, I am accumulating student loan debt by the minute for optometry school. We are fortunate enough, though, not to have undergraduate debt and to only take out the minimum amount to cover my current tuition without using loans for living expenses. This made the program a bit difficult though, because Dave talks about loans and debts as if they have occurred in the past, and it's difficult to decide what to do about it while in the midst of accumulating the loans when you know you can't pay them in full (or avoid them altogether). At the end of these posts I'll discuss what we implemented from the program.
Let's cover the first two lessons quickly:
Week 1 - Super Saving:
Dave revealed his "Baby Steps" to financial peace. These are referred back to during the 13 week program and are the main steps to financial peace. These are discussed to let you know what is ahead, not to be completed before you return to week 2 (because that would be impossible).
- Average Credit Card Debt: $15,191
- Average Mortgage Debt: $154,365
- Average Student Loan Debt: 33,607
- and just for kicks... Average Medical Student Loan Debt: $169,901
- Plus a fun fact (which I thought surprising): Debt increases with age. Those 65 and older have greater debt than each younger age group.
Not to mention we are a society that is consumed with instant gratification. We want nice things (because others have them), and we want them now. We think we must drive nice cars, so we have a payment for that. And we must have nice phones with internet access, which we pay a large sum for each month. And at home we must be able to click through hundreds of channels and record shows to watch at our on leisure... and on a big screen, high def TV, none-the-less, for which we also pay a pretty penny. I could go on... None of these example items are "bad" if you can afford them, but they are simple, unnecessary items to cut out of the budget if you can't. Dave addresses these as well.
Dave has lots of materials and options for his programs, from books and online tools to DVDs; group and home editions, etc. But he charges for most of them (a bit too much in my opinion, considering he is aiming to help your financial situation... but it's made him a billionaire, so....) I wanted to summarize each lesson for you in case you can't get your hands on the actual program. (I believe there is a newer edition than what we did, but I'm sure the principals are all the same; some titles may be different).
There are some free resources and worksheets you can find HERE (or surf around the web yourself for pdfs from workbooks).
How we entered the program: I'll be honest and say that we are in the best financial situation we have been in, single or married. With Jesse having a full-time job bringing in more than minimum wage, we have moved up from our first year of marriage. However, I am accumulating student loan debt by the minute for optometry school. We are fortunate enough, though, not to have undergraduate debt and to only take out the minimum amount to cover my current tuition without using loans for living expenses. This made the program a bit difficult though, because Dave talks about loans and debts as if they have occurred in the past, and it's difficult to decide what to do about it while in the midst of accumulating the loans when you know you can't pay them in full (or avoid them altogether). At the end of these posts I'll discuss what we implemented from the program.
Let's cover the first two lessons quickly:
Week 1 - Super Saving:
Dave revealed his "Baby Steps" to financial peace. These are referred back to during the 13 week program and are the main steps to financial peace. These are discussed to let you know what is ahead, not to be completed before you return to week 2 (because that would be impossible).
- Baby Step 1: Save a $1,000 emergency fund (expected time 2-3 mos)
- Baby Step 2: Debt snowball (pay off all of your debts, excluding mortgage; expected time 18-24 mos)
- Baby Step 3: Save 3-6 months (necessary) expenses in emergency fund.
- Baby Step 4: Start investing - 15% of income into retirement investments
- Baby Step 5: Help plan your child's future - college funding
- Baby Step 6: Pay off your home early
- Baby Step 7: Build wealth and give!
What I got from this lesson: Saving money must become a priority and wealth building requires discipline. A common misconception is that "money is the root of all evil" and is perceived as a bad thing. This is not true - money is not good or bad; it becomes good or bad depending on what you do with it and your emotions towards it. It is the love of money that is the root of evil. Your attitude towards money determines if you are saving responsibly or hoarding it.
Dave gave 3 reasons to save: emergencies, purchases, and wealth building. The emergency fund is very important, as it will protect your investments in a time of urgent need. And this is only to be used for actual unexpected, emergency expenses- such as car repair, unexpected bills, or job loss. He discussed when you have an unexpected expense such as car trouble (a "car crisis") - if you are prepared financially you pay the bill and move on, solving the car crisis. If you are not prepared, you not only have a car crisis but also a financial crisis at the same time, and a large amount of resultant stress. Saving money may take a lot of effort on your part now, but it will pay off in the future. Imagine how much stress could be alleviated from your life if you could reduce your debts (completely), had an emergency fund in case something happens (avoiding a financial crisis), and had enough in the bank to live comfortably today and investments for later. Dave's motto is "live like no one else now, so that you can live like no one else later." Some may think this is impossible, but it is definitely an attainable goal at any stage of life. It may take time and some sacrifices along the way, but the end result is liberating. Testimonials are scattered through the DVD series, and they are remarkable. Go HERE to read some for yourself.
Week 2 - Relating with Money:
I didn't get to go to this class, but I did get caught up on the subject.
Dave hits on the topic of how men and women are different, and how you and your spouse may not have the same ideals when it comes to budgeting, saving, and wealth building. He divides people into two groups: nerds and free spirits. Nerds enjoy numbers and creating a budget and are generally more disciplined. Free spirits are just the opposite and enjoy not having to think about numbers and budgets. The main point is that all people are not alike, and if you are a couple you should work together to do this program. Two heads are better than one, and you can use your differences, strengths, and weaknesses to help each other. If you are single doing this, you may want to seek an accountability partner to help you stay on track, especially if you identify with the free-spirit group.
What I got from this lesson: Jesse and I are definitely different when it comes to, well...most anything, and it was good for us to think about these characteristics. We would agree that we both like to save, but that doesn't mean to don't both like to spend as well. We just do so differently. Jesse doesn't buy many things, but when he does it is usually big-money items, like a new TV. I, on the other hand, will drop $20 at 5 different places throughout the week and not realize I've spent 100 bucks. I'm glad this was a focus at the beginning of the program so that we could assess what characteristics would work to our advantage, and what habits we need to work to change.
This post would be extremely lengthy if I didn't split these lessons up, so come back soon to read my summary of the next few lessons!
Have you done a Dave program before? How did you do, and what did you implement to better your financial situation? Share your experience or concerns in the comments section below!
Thursday, August 1, 2013
Meal Planning - How We Do It
How do you plan for dinner? Do you go to the grocery store multiple times per week? Do you walk around the grocery store, randomly throwing food (and snacks) into the buggy, only to see a large total at checkout and you hope you've got what it takes to make a few meals during the week? This is what we used to do. Every time we opened the fridge or cabinets I would say, "We don't have any food." When really, there was plenty of random food items in the fridge or pantry, they just didn't seem to go together for a meal. With professional school comes extreme time management, and while I'm still not a pro at that, I think I've conquered our dinner mystery.
On a good week, this is what we try to do:
On Saturday or Sunday I sit down with my recipe binder. In it are recipes we know we like and some new ones to try in the future. I've separated it out into categories, and when we find a new recipe we like, I type it up, print it out, and stick it in the binder (like the one you see above, and the recipes I share here on the blog). That way we don't forget about it! Each weekend we pick about 5 meals out - some from the binder, some new meals, and some that don't require an actual recipe. Having the recipes at hand, even for more simple meals reminds me of all the ingredients I need and prevents me from forgetting to grab it at the store. We choose 5 because we usually eat at Community Group one night a week, and then we sometimes have leftovers for the other night or plan to go out.
Next, I make our list (no surprise there, huh?). I found this cute meal planning notepad in the dollar bin at Target a little while back, but before that I just used scraps of paper. I flip it over and on the back write out our 5 meal ideas. Beneath each one I write the ingredients I need to pick up (leaving off any that I already have). I also make a list in the bottom corner of other things we need for the week - the usuals, like milk and bread.
Then I take it to the store with me, and mark off things as I go. This results in a slightly crumpled list, because I can still be frazzle-brained in the store, but it helps! Now, here's the most important part: only buy what's on the list! This is one of our main goals of meal planning - not just to plan but to $$$save$$$. And I promise it really helps. I try, try, try to stick to the list, and when I do I notice the savings. We aim for only spending $60 a week on our grocery store total (including non-meal related items like cereal, milk, etc). It's often less than that because of pantry staples, etc. Let's do a little math: 60/5 = $12 a meal (assuming we're only planning five meals, but sometimes more for the same price goal). That's $6 a meal per person. I know you could eat out for $6 per person, but this is home cooked, and often times MUCH healthier. Here's where I'll throw in another good point in meal planning: by writing out what you plan to eat for the week you SEE what you're putting into your body and can account in advance for your servings of fruits and veggies. Or note that you've eaten red meat 4 out of 5 meals this week. (We aim for only one red meat, a couple of chicken, and maybe a meatless meal.) This can also help reduce your food waste (= money waste) by planning to use the same ingredient for more than one meal! By no means are we experts at this yet, because we still throw away spoiled food, and we still eat out more often than we should, and we still don't always have enough fruits and veggies each day, but we try and we can only get better trying - and that matters.
OK... off the soapbox...
Next, I fill in each day with its meal. I try to base this on the ingredients for the meal and how quick I need to use them before they go bad.
Then I hang it on the fridge with any recipes that go along with it so everything is ready to go each night, and I'm not searching for or looking up a recipe.
10 Reasons to meal plan:
1) can plan your own HEALTHY meals
2) lets you track your meals and food choices
3) lets you track how many times you eat out
4) saves you time at the store
5) saves you money by only buying the things you need
6) saves you money by eating what you buy and not letting it go to waste
7) keeps you sane
8) keeps you full
9) gives you an answer when husband says "What's for dinner tonight?"
10) a full husband makes for a happy husband... at least in this house
On a good week, this is what we try to do:
OK... off the soapbox...
10 Reasons to meal plan:
1) can plan your own HEALTHY meals
2) lets you track your meals and food choices
3) lets you track how many times you eat out
4) saves you time at the store
5) saves you money by only buying the things you need
6) saves you money by eating what you buy and not letting it go to waste
7) keeps you sane
8) keeps you full
9) gives you an answer when husband says "What's for dinner tonight?"
10) a full husband makes for a happy husband... at least in this house
Wednesday, January 30, 2013
Things I [Almost] Never Pay For
I've had this post draft saved for a while and thought since I've been a little MIA around here, I would go ahead and share:
I haven't talked about couponing/saving in a while, but I've realized that there are a few everyday sort of things that I can always get for free or pay very little for. So I thought I would pass along some tips.
(Here goes a list. I love lists. I knew that before blogging. But I didn't realize most of my posts would wind up being lists. Maybe I should have named our blog Our Lists As We Know Them! Moving on....)
1. Dental floss. I am a Plain Jane sort of girl when it comes to floss (and many other things, actually). It doesn't have to be fancy threads woven together to get the job done, so Johnson and Johnson's Reach Waxed Floss is what I've always bought. But guess what? It is often priced at $0.97 (Walmart, sometimes Target), and quiet often there will be a printable manufacturer's coupon for $1.00. When this happens, I print as many possible (2 can be printed per computer) and stock up, that way I never pay for floss!
2. Cereal. I love cereal. I don't believe cereal is a cop-out breakfast. We eat it nearly every morning (not as much during the winter, but it still makes plenty of appearances). At that rate, we go through lots of boxes! Now, this one is not free but I do set a target price max of $2.00 per box (preferably less). But have you seen cereal prices lately?! Four bucks or so a pop. I realize this still works out to yield very cheap breakfasts, but I don't like paying that much when I can get it for way cheaper. Now, this takes a little more planning - watching grocery adds for BOGO or 2/$5 deals and combining these deals with coupons (usually printable ones). But it's worth the little effort... and the strange glances when I roll up to the register with 6 boxes of cereal. :)
3. Printer paper. This deal is fairly new for me and I am so glad I've taken advantage of it a couple of times to stock up for school because I have to print a lot of class notes every day. Staples frequently runs various deals on their multi-use paper where you pay for the paper up front and file a (seriously, Quick and Easy) rebate form online and just wait for your check to come in the mail for reimbursement! I have purchased 4 (maybe 6) packs of printer paper and only paid maybe $3 total! Definite score! I think other office supply stores (Max, Depot) may run similar deals, just not as frequently as Staples lately.
4. Toothpaste. This deal is similar to that of the dental floss. I usually combine a BOGO sale with coupons to yield super cheap clean teeth! These BOGO's are usually found at Publix or Winn-Dixie, and they often alternately between Crest and Colgate. Again, I'm not picky.
5. Men's Deodorant. See, I keep Jesse in my deal-seeking thoughts, too. RightGuard happens to be the brand that I ran across a couple of deals in a row for. Which resulted in possibly a lifetime supply of deodorant for the hubs. I've gotten them as cheap as $1.25 each, which is pretty good considering regular price is around $4.00. Again, this is a combination of store deals and coupons.
Do you set price points for items? Like meats or produce? (Those are things I should really pay more attention to.) Are there some things you're not willing to pay more for?
I haven't talked about couponing/saving in a while, but I've realized that there are a few everyday sort of things that I can always get for free or pay very little for. So I thought I would pass along some tips.
(Here goes a list. I love lists. I knew that before blogging. But I didn't realize most of my posts would wind up being lists. Maybe I should have named our blog Our Lists As We Know Them! Moving on....)
Do you set price points for items? Like meats or produce? (Those are things I should really pay more attention to.) Are there some things you're not willing to pay more for?
Thursday, April 26, 2012
Recyclebank Points
If you happened to have signed up on Recyclebank (from my previous post on rewards programs), you can earn up to 140 points by taking several pledges! They are all found HERE on one page. 100 points will get you a $10 off $30 at Bed Bath and Beyond, or choose other rewards like magazine subscriptions. This is a great opportunity to earn quick points!
Click HERE to sign up for Recylebank if you haven't already!
If you want to earn lots of additional points, make sure you also do the Passport for the Planet activities!
Click HERE to sign up for Recylebank if you haven't already!
If you want to earn lots of additional points, make sure you also do the Passport for the Planet activities!
Thursday, April 19, 2012
3 Ways to Get Stuff for Free!
I wanted to enlighten you all about some rewards programs that I use to snag free money or prizes. Did you think there was no such thing as a free lunch? Well, you're pretty much right, because you do have to do at least a little something for these rewards programs, but if a few clicks a day gets me closer to a giftcard or cash I'm willing to do it! Here are my 3 favorites:
Perhaps the easiest rewards program is Ebates. All you have to do to earn cash through Ebates is log into your Ebates account before you do your online shopping. Search their database for the online store you will be shopping at, and click on it. You will be redirected to your store's website, and Ebates will track to see if you ordered. You will earn money according to the percent of rewards Ebates is offering. Sometimes the percent cash back will change - your store may be running a bonus %! Ebates also houses coupon codes, so you may score even more savings! Here's a peek at some percentages:
It may not seem like much, but it adds up. I have earned $36.87 since sometime in 2010. So it's not the quickest way to earn rewards, but it's easy (if you remember to go to Ebates first). Of course, the more online shopping you do, the more money you earn.
If you would like to set up an Ebates account to start earning, please click HERE. You will get a bonus $10 giftcard to Target, Barnes & Noble, Magazines.com, or Home Depot when you sign up. (And I will make $5 - only if you click through my link!)
So far I have earned 1,155 points since November 2011 (granted, I have just recently started trying to earn more points once I realized how easy it is). I've cashed 450 points in twice to get Amazon gift cards - the ultimate reward prize in my opinion. (You can get anything off Amazon!) There are many other prizes/giftcards to choose from.
Also, you earn points off of every person you refer - so if you would like to start an account, please click HERE!
Click HERE to set up a Recyclebank account!
If you have any questions about any of these sites or how to earn points, leave a comment below!
Monday, March 26, 2012
Replacements
I don't know about you, but I have a thing against the makeup aisle. There are way too many products staring back at me, and it becomes a little overwhelming when you have no idea what that shade in the bottle is going to wind up looking on you. And in case y'all didn't know, I am white. And just because they call the color of foundation "fair" doesn't mean it is light enough for my skin tone.
What I look for in a foundation is good coverage. I like a thicker liquid foundation that I know will cover my blemishes and even out my skin tone. For some reason my skin seems to absorb most foundations, so I've searched for one that will last pretty much all day without reapplication. These requirements left me at the department store makeup counter, and I walked away with a fabulous foundation from Estee Lauder (shade: Bone).
It really does stay in place all day and I loved that it has a little SPF. The staying power of this foundation led me to also purchase the Double Wear eyeliner (in Coffee), and it was just as wonderful. It goes on so smoothly and doesn't smudge or run during the day.
I love these two products, but their price tag (foundation $35, eyeliner $20!) made me feel like I left a little piece of myself at the makeup counter. So I've been on the hunt to find a more budget-friendly option, and I'm glad to announce I've finally found replacements for both!
(insert drum roll here)
Revlon Colorstay Foundation (in Ivory) for $10 and CoverGirl's Liquiline Blast Eyeliner (in Brown Blaze) for $7.50.
The foundation lasts for approximately the same amount of time as the Double Wear with equal coverage, and the CG Eyeliner is amazing. It goes on smooth and easy- you barely have to touch your lid to apply it!
So, if you are in the market for new makeup, I highly recommend these!
What are your favorite makeup products?
Saturday, March 24, 2012
DIY Laundry Detergent
...or show I say washing powders?
Whatever you call 'em, I made some today, and I think it's gonna work out pretty well!
Since my dishwasher detergent failed, I have some of the basic ingredients for laundry detergent leftover, so I thought I'd try my hand at it and see how it goes. I found a few recipes through Pinterest and decided that most of them have pretty simple ratios, so I just decided to wing it and combine my favorite recipes.
Here's what I used:
(all of these items can be found on the laundry aisle)
Cost?
Washing Soda $3.24, Borax $3.38, Fels-Naptha bar &0.97, OxyClean $6.99 (I got mine for 2.99 with Register Rewards at Walgreens)
You are only supposed to only use 2 tablespoons of this stuff per load (!!!), so each batch can wash 40+ loads of laundry.
I spent a little over 10 bucks, and can probably make at least 5 batches from the powdered ingredients.
So with a few additional bars of Fels-Naptha, that's around $14 for 200 loads of laundry!
It will not suds up like "normal" detergent, and it doesn't have a strong scent. If you want extra scent, you can add Purex Crystals (which will also be a bonus fabric softener) or Downy Unstopables. I probably will do this - just didn't have it on hand today.
First, I grated the bar of Fels-Naptha.
(Jesse paid me no attention while I was in the process of grating. He only saw the end result, and thought it was cheese. Good thing he didn't taste it!)
Then, I added a cup off all three other ingredients.
Stirred to combine.
I've used it twice so far today and it seems to work great. It even removed stains that I was a little skeptical of.
Today has been a cleaning day.
I love Saturday cleaning.
Clean sheets.
Clean comforter.
Clean kitchen.
Clean dog bed.
Clean floors.
Clean bathroom.
Soon to be clean clothes.
:)
Wednesday, March 21, 2012
A Penny Saved is a Penny Earned
Let's talk money today. If you know me at all, you know that I love a good deal - aka saving money, not spending it! I will confess to clipping coupons and even to the fact that I have a binder to keep all of my coupons organized in that I take to the store with me. (Yep... I'm that girl in the check out line.) But, shame and embarrassment aside, clipping coupons and scouting out deals has saved us a good bit of money in the little time that I've done it.
Now, I realize that couponing takes a fair amount of time, and not everyone can make the commitment to keeping up with lots of coupons and organizing a binder periodically, but I will say that once you get started, it is pretty easy to maintain. However, if you have seen the TLC show "Extreme Couponers" you know just how crazy people can get with coupons. They spend every waking moment searching for deals and coupons, and I find that ridiculous. But I won't go into detail about that hear. (Jesse may beg to differ at the fact the I made this comment, but I promise I am not an extreme couponer!)
My point of this post is to share a few websites and tips with you that I find useful.
> How do I find deals? I let other people do most of the work for me. My favorite website to check is hip2save.com. This is run by a lady named Collin and her gang of deal-seekers. It is one of the best websites to go to for current deals and coupons. I don't know how they know about all the deals, but they do a great job updating the site many times a day with new deals or coupons to print. Other websites that have been suggested to me are iamthatlady.com and southernsavers.com. I check these occasionally.
> These websites I have mentioned are ones that I trust not to post anything sketchy or suspicious on. When you click the deals they post, you will be transferred to another website. There are lots of freebies you can sign up to receive from different websites to try their product. Even though I trust the deal websites mentioned, but I do use common sense and proceed with caution when entering my personal information to outside sites. Usually a name, address, and email are required to receive a trial/freebie. Sometimes a phone number (usually entering 000-000-0000 works). I have a separate email account that I use for things such as this so that my real inbox is not loaded with junk.
These are my general rules for coupons:
1) I print or clip any coupon that I think I might use. (Better to keep it just in case and wind up throwing it away, than not have it and miss a really good deal.)
2) I print coupons from the websites mentioned above and clip them from the Sunday paper. However, I only buy a paper when I know there are coupons inside that make it worth buying the paper and saving on the products. Hip2save.com does a "Coupon Review" every Saturday to let you know what coupons may be in your local paper. I always look through the paper before buying to make sure the coupons I want are in my paper because sometimes they may just be sent to certain regions.
3) I only use coupons on products that I normally buy or that I would like to try. I do not use every coupon I clip just because I have it. If I have a coupon for Depends, I do not need Depends, and therefore do not even bother with the coupon. :) Sometimes a really great deal may pop up where I can get something I don't normally buy for really cheap (or free!). For instance, we normally buy cheapo Ivory soap, but I came across a good deal on Olay soap (thanks to those websites mentioned above).
total spent for 6 bars = $1.71 (woop woop!)
3) I do not use all my coupons as soon as they are clipped/printed. I hold onto them for a little while, in case there is a store deal to match them with. Such as this deal on Right Guard deodorant (the kind Jesse already uses): Walgreens had Right Guard on sale for buy one (at $4.58) and get one free. I happened to have 2 coupons that were $2.00 off when you purchase 2. Here's the breakdown:
cost per item = 1.29
Now, I realize that couponing takes a fair amount of time, and not everyone can make the commitment to keeping up with lots of coupons and organizing a binder periodically, but I will say that once you get started, it is pretty easy to maintain. However, if you have seen the TLC show "Extreme Couponers" you know just how crazy people can get with coupons. They spend every waking moment searching for deals and coupons, and I find that ridiculous. But I won't go into detail about that hear. (Jesse may beg to differ at the fact the I made this comment, but I promise I am not an extreme couponer!)
My point of this post is to share a few websites and tips with you that I find useful.
> How do I find deals? I let other people do most of the work for me. My favorite website to check is hip2save.com. This is run by a lady named Collin and her gang of deal-seekers. It is one of the best websites to go to for current deals and coupons. I don't know how they know about all the deals, but they do a great job updating the site many times a day with new deals or coupons to print. Other websites that have been suggested to me are iamthatlady.com and southernsavers.com. I check these occasionally.
> These websites I have mentioned are ones that I trust not to post anything sketchy or suspicious on. When you click the deals they post, you will be transferred to another website. There are lots of freebies you can sign up to receive from different websites to try their product. Even though I trust the deal websites mentioned, but I do use common sense and proceed with caution when entering my personal information to outside sites. Usually a name, address, and email are required to receive a trial/freebie. Sometimes a phone number (usually entering 000-000-0000 works). I have a separate email account that I use for things such as this so that my real inbox is not loaded with junk.
What kind of freebies have I received?
Most are trial sized samples. I've gotten toothpaste, dog food, Burts Bees chapstick and lotion, an Xacto blade, and laundry detergent samples to name a few random ones.
Lots of times these will also come with coupons for that product = double score!
These are my general rules for coupons:
1) I print or clip any coupon that I think I might use. (Better to keep it just in case and wind up throwing it away, than not have it and miss a really good deal.)
2) I print coupons from the websites mentioned above and clip them from the Sunday paper. However, I only buy a paper when I know there are coupons inside that make it worth buying the paper and saving on the products. Hip2save.com does a "Coupon Review" every Saturday to let you know what coupons may be in your local paper. I always look through the paper before buying to make sure the coupons I want are in my paper because sometimes they may just be sent to certain regions.
3) I only use coupons on products that I normally buy or that I would like to try. I do not use every coupon I clip just because I have it. If I have a coupon for Depends, I do not need Depends, and therefore do not even bother with the coupon. :) Sometimes a really great deal may pop up where I can get something I don't normally buy for really cheap (or free!). For instance, we normally buy cheapo Ivory soap, but I came across a good deal on Olay soap (thanks to those websites mentioned above).
3 2-packs of Olay soap at $2.57 each = $7.71
savings due to 3 $2.00 per item coupons = $6.00
4 deodorants at $4.58 each = 18.32
savings due to BOGO sale = 9.16
savings due to coupons = 4.00
final cost for all four items = 5.16
(I realize there are 5 deodorants in this photo... one of them came from another BOGO+coupon deal. So Jesse will not need deodorant for a long time!)
4) Coupons are going to be for name brand items. So sometimes they are not worth it to me to use. For example, we don't mind using Great Value brand toilet paper. If I have a coupon for Charmin that does not make the same amount of toilet paper cheaper than buying Great Value, then I don't bother using it. I would rather pay less for Great Value than getting a few cents off of Charmin. But that's just our own preference. If you would rather have Charmin, go ahead and grab it and save a little money while getting a product you love!
5) The best deals are not going to be found in Walmart. I had to learn to face this fact. I used Walmart as my one-stop-shop because they do usually have the lowest price for just about everything. But I absolutely hate shopping at Walmart. It seems they are often times out of the product I want, or do not have the price displayed (which makes me really angry, because they have also removed those handy price-scanners that used to be throughout the store). And don't get me started on the lack of cashiers. Stepping off my soapbox and back to couponing.... they are not going to have BOGO deals, which leads to the best savings. Ideally, you want to stack coupons with store deals to get the best deal. These are going to be more prevalent at stores like Winn-Dixie, Publix, Kroger, Walgreens, CVS, and even Dollar General.
There are many more in depth rules to couponing (such as store policy, etc.), but these are just what I consider the general basics. If you have any questions, please post them in the comments section and I'll get back to you.
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