greenbackgrazers


Money, Money, Money
May 8, 2012, 7:55 AM
Filed under: Financial tips, Fun on a budget, Healthly Living, Life style

I know we all have heard th principal of saving and there are many ideas on how much you should save and the number of savings accounts you should have and how you should delegate your money.  Debt is so rampant in our culture that there is a whole industry dedicated to helping you rid yourself of it!  I bet we all have from time to time felt overwhelmed by debt or overspending.  Even if you are currently debt free (good for you!), then you know someone who is still struggling with this heavy burden.  Here are a few helpful hints for getting out and staying out of debt.  Some maybe small decisions or solutions and others are long term.

1)  Consult a financial advisor.  This doesn’t mean JP Morgan, or Charles Schwab.  We’re not talking about investing or money markets.  Call up your tax person, more often than not this person is the best to either recommend  someone to help or may even we willing and able to help you themselves.  You’ll want to have someone you trust and someone who has experience and can be impartial.  First gather all your bills and loans including your mortgage/rent/condo fees and have them ready.  Arrange a time where both you and your spouse can sit down with your advisor of choice and look over what you have and come up with a budget and a plan.

2) Track your money.  You may even want to do this first so that you know where your money is going before you see your chosen advisor.  This is something most financial classes  will teach you.  Take a small notebook (one that will fit in your purse, try the dollar store)everywhere you go and log everything you purchase.  Total it up at the end of everyday!  This way you know where your overspending comes from.  No more saying, “where did my money go? ”  Next look at your bank and card statements every month.  Mistakes happen a deposit might not get credited to your account, credit card companies will charge late fees after one day instead of 5, 10, or 15 days as stated in the policy.  If you call them right away you should be able to get them to rescind the fee.

3) Don’t forget to have fun too!  Make a game out of finding the cheapest dates.  Go to Costco/BJs and have dinner hotdogs and soda for $1.50 each and go see a free or discounted movie.  In our area Sellersville has one each month on Mondays at 7:30pm, Lansdale Public Library has them, and East Greenville has a quaint theater on main street that has 1st run movies at discounted rates.  Or better yet my Sister and Brother-in-law host movie nights in the back yard and have a double feature one for kids early and 2nd for the adults after the kids fall asleep.  Invite neighbors and have everyone bring as treat!  Avoid activities with people who always want to eat out all the time.  Talk about events that are free and share ideas if they insist on this limit your time and plan to spend with them.  Once a month for example.

4) Set goals.  Write them down on a piece of paper and post it where you can see it everyday.  This way it will keep you accountable and committed to your goal.    When it looks like you are coming short of your goal take on another job.  It’s a great way to make some extra money.  Do handyman work, babysit, or take a part-time job temporarily.  When I was in school I wanted to go on the trip to Oklahoma and I did extra chores around the house and had a job on campus and took three jobs on summer and school breaks.

5) Save on food.  Clip coupons, shop stores with double coupon days, buy store brands or shop discount stores.  Shop with a list always.  With out one you are likely to buy more.  Plan out your meals ahead of time maybe a week at a time. This create fewer chances to impulse buy.  Always be on the look out for a cheaper alternative.  Instead of using paper towels use a rag.  This also saves trash from the land fill.  Eco -Friendly!

 

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3 Comments so far
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Really good “stuff” here,
Adrianna! Keep up the good work!!!!

Comment by Dianne Auckland

Very good article. Keep up the good work. Speaking about setting goals, I sometimes ask myself, do I want to buy (whatever) right now or do I want to save the money for the bigger thing I want. I know that if I buy right now, then it will just take me longer to get what I really set my goal for. Your article was very well written……………

Comment by Barb Schmoyer

Thanks Aunt Barb! Iam so glad you liked it! Let me know if you have anymore great ideas to share! Happy Anniversary! I heard you had a good time with Mom and Dad. Have a great day!

Comment by greenbackgrazers




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