December 29, 2016

6/29/2015

If you go to using cash for the majority of your purchases you will most likely have lots of coins for change. Have a change jar and put all your coins in it. They will add up. It is amazing how quickly it adds up. you can keep adding to it and use the money in it for a vacation or splurge fund. 

I also put at least half of the one dollar bills I get back as change. They do add up.

One person I have heard of did the change jar but she also saved every 5 dollar bill she gets. That would really add up fast. 

December 29, 2016

6/23/2015

What to do with your Income Tax Refund. 

First of all, change your withholding so the government doesn't take as much out of each paycheck. A tax refund is just the government borrowing money from you interest free. They will use your money, interest free, until it is time to repay you, interest free. 

Be disciplined and save the "extra money" you have in your paychecks after you change your withholding. That way when the taxes are done and you owe you have it. 

If you can't be disciplined, though it is probably best to keep the withholding the same. Better to lend to Uncle Sam than for him to come and get it, one way or the other, from you if you don't have it. 

When you get the refund, if any, I recommend you plunk it into a savings account. I think, depending on how much you get back you should splurge a LITTLE. Then use the rest to pay down debt or put it into a less liquid savings to go towards a large purchase like a house or a car. 

December 28, 2016

Easy Savings

Savings sometimes isn't easy. It is a good idea to build up an emergency fund so you won't have surprise expenses that put a pinch on things. 

I put $40.00 into a sink fund every payday, two weeks apart. I also put $10 onto a re-loadable gift card at the grocery store every time I do my weekly shopping trips.
I have had to use my sink fund many times but I try to not get down on myself and I just breathe and get it going again. I think they negative thoughts about myself are one sure way to not get a sink fund going again.

December 28, 2016

6/19/2015

Menu planning 

One great way to save on groceries is to have a menu planned out for the period you grocery shop for. You can make it as complex or simple as you like. You could do for all three daily meals or only the main meal of your day.

I personally do only dinners. We have odd schedules so breakfast hardly happens at my house. I eat lunch at work. So dinners are all I plan. 

I make an inventory of our freezers and pantry and use up frozen leftovers for dinners on my work days. On my weekends, I try to cook. 

I like to do a bunch of cooking on the weekend to freeze for the week. I usually eat leftovers from the night before for my work lunches. 

I like to have a meal plan so I won't come home from work and not want to cook and keep from spending money on take out. 

December 28, 2016

More thoughts on grocery savings. If you can, find a store that sells spices in bulk. If you have a new recipe and don't know if you will use all the spices after you make the new one get just the amount of bulk spices to make the dish. It is cheaper than getting the whole bottle and wasting it. 

Cash Only Spending

December 28, 2016

6/16/2015

Using cash only helps to spend less. It seems harder to give over the cash than the credit or debit card. With cash you have to give it up and you don't get it back like you do your cared.

Have a budget where you have a set amount for non-bills: groceries, non food (cleaners, toiletries, pet supplies, etc...), entertainment and other purchases. Divide it into categories and when the money in that category is gone you stop spending for that category. 

When I get change back I put all the coins and one dollar bills into a change cup. It adds up. After the cup is full I take it to the credit union and the change machine counts it and I deposit that into my vacation fund. 

I haven't been able to deposit any this year because I have used the money in the cup to give ot a friend is having a hard time making ends meet one month. 

I used a plastic wallet-size coupon holder for dividing up my cash. but you can get as elaborate or simple as you want.