saving
Sometimes it is just how a phrase is considered that will begin to show a shift in your thinking about money, credit card debt elimination, … life. I knew that the shift had begun when the question on the way shifted from being “where are we having dinner?” to “what are we having for dinner?” Let me set one thing straight, I am not a sexist that asks that his wife cook his dinner and have it ready when I walk in the door, like those from a different era. Quite the opposite is true: I love to cook and I do not mind cooking dinner and have even gone as far as cooking the traditional holiday meals. But there was a problem. Because of poor planing convenience was chosen over practicality and frugality. The nightly evening meal would often be eaten at a restaurant (there is somwhat of an aversion to fast food), so there would be a meal most nearly every night charged to the credit card. Big mistake. Not only was this meal setting us back $25-$30 each evening (on average $150 per week. or roughly $7,500 per year) it was being put on a credit card on which the minimum monthly payment was aroun $100 per month. (You can see how the debt quickly grew by leaps and bounds because since the minimum payment was being made, it was was gaining interest at around 22%…OUCH!!).
A change had to be made. It is said that “if you fail to plan, you plan to fail”. True. Saving money and getting out of credit card debt is important to you, you will need to shift your thinking to do more planning. Plan out your meals in advance so that you will not have to run to the store or make a quick drive-through stop. Believe me when I tell you that stopping that mindset will free up money to pay down your credit card debt, or, if you are one of the few that have no credit card debt, it will free up money to invest for the future. Keep the faith!
Tags: frugality, money, saving
Sometimes, in your quest to live life without spending excessively, people may call you a cheapskate, a tightwad, or worse. Maybe I’ve developed a bit of tough skin over this, but it really doesn’t matter anymoe. What’s funny is that these values were embraced by those of different generations. Growing up, my parents were never rich in things, but were rich in values and friendships. The tried to pass these values down to their children. Being the prodigal son, I was not always willing to adopt the same values and lifestyles, but as I grow older, I realize that a lot that they were attempting to teach me were the right things. Looking back (while looking forward at the same time), here are some things that have been learned:
* If you truly want it, save for it - there is no better feeling than seeing something that you want and saving for it little by little. If you truly want it, you will still want it by the time that you have saved enough to pay for it. Instant gratification is nice, but things have a tenency not to mean as much if you see it, grab it, charge it, and pay for it for a long time.
* Don’t spend too much for things you need - mom was a great budgeter and she always kept her eye open for a good value. She had a budget and stuck to it.
* Waste not, want not - items were purchased for a reason and waste was not an option
* Buy quality, not quantity - mom and dad were not “brand buyers”. I was not brought up to “need” to wear
Nike shoes or
Levi’s jeans. Mom always bought quality clothes that lasted and didn’t look too bad.
* Save for a rainy day - As I get older, it makes more sense, because sometimes life has a way of happening: your car may need shocks and struts (especially if you purchase a used car), the plumbing may stop up (and you cannot fix it yourself), your glasses may get broken, or something may need to be done that you don’t normally expect. I now have a
savings account online that pays a decent rate and the money is accessible if I truly need it.
Be wise, or as Spock would say, “Live long and prosper.”
Tags: credit card debt elimination, financial independence, frugality, money, saving
I would be a clothes horse if I had the money. That is only a fraction of the reason why I have embarked on a credit card debt elimination program. You can spend a fortune on clothes unnecessarily. Men who have ever shopped at places like Men’s Wearhouse will tell you that you can buy some clothes of outstanding quality, but also of less than the cost of a fine car. Truth be told, their quality is not to be beat, but since I couldn’t afford to purchase from their without using a credit card, a credit card is what I used. I have learned that people don’t really judge you completely on what you wear. I work in an office that has a dress code of business casual (although some definitely stretch the definition of casual). I may be a bit old fashioned, but I will still wear a dress shirt and a tie. The difference now is that I don’t feel as if I have to go to the high end.
Shop at discount clothiers. Watch the sales ads for places like Kohls or Target and you will save money (that you can use to pay off credit card debt). If there is an outlet mall near you, you can even save on good quality clothing without paying top dollar. What is important is that you are not spending money unnecessarily and you use the saving to build a nest egg once you have eliminated your credit card dependence. The key is to look good, but spend well.
For a great credit card debt elimination program, click here.
Tags: budget, credit card debt elimination, money, savings
Sifting through the inbox of my email, I noticed there were quite a few on saving money online. I found some great sites that will be able to save you some money in your quest to eliminate credit card debt.
* CoolSavings.com - grocery coupons and more
* Coupons.com - more grocery coupons
* eBates.com and MoreRebates.com - ways to save with online rebates
* PriceGrabber.com and Smarter.com - online price comparison sites
* CouponCode.com - a way to find the coupon codes that are asked for at many popular sites
* MoneyMailer.com and ValPak.com - instant access to the coupons that you get in the mail, but may have misplaced.
Be sure to use the money that you save online to eliminate your credit card debt and move toward financial independence.
Tags: Add new tag, budget, credit card debt elimination, money, savings
That was the beginning of a popular song from “South Pacific”, a musical from the great Rogers and Hammerstein. Of course, if you are younger, you probably remember if from a popular commercial for some shampoo. We will look at some ways to share on hair care today. There was a time when the cash was a little more flush and I would lay down $10 for a big bottle of
Aussie Mega shampoo. I bought it at Sam’s Club and because I was buying it in such a large quantity there was a perceived bargain. Twenty-five years later, I realize that it really isn’t worth all that. Here are how to save on that and have more money for paying down your credit card debt and continue to eliminate the balances that you may have on credit cards: Purchase some low-cost shampoo such as
Sauve. By watching the sales ads carefully, you can purchase enough shampoo for one person for a year for around $5. If there is more than one in your household that you buy for your savings could add up significantly. (Of course use your savings to pay off high interest credit card debt). Have your hair cut by a student at a cosmetology school. They are learning how to cut hair and the prices that they charge for a haircut is significantly lower than a salon, or even places like Great Clips or Fantastic Sams.
I have done one better: I cut my own hair. Of course my hairstyle is simple, I just have a buzz cut that I would walk into the barber shop, tell them “3 on the top, 2 on the sides (referring to the clipper setting) and pay $20 when I left. I purchased my own clippers and, for the last year have cut my own. I didn’t go cheap on the clippers because I paid over $160 for the clippers, but I figured it would last me a lifetime, so I didn’t mind. after eight months, the clippers paid for themselves and now a haircut only costs a bit of my time and a few cents for the electricity. It is realized that this solution would not work for everybody, but I am just throwing that out there to show that there are a lot of ways to free up extra money to get you and keep you on the rod to living without credit card debt.
Food can sometimes be the area in which a person can have the greatest monthly expense, yet, if done with a bit of planning and your eye on the prize of eliminating your credit card debt, can represent the greatest area for savings that can help propel you out of credit card debt. The challenge is that many people are emotionally attached to foods and oftentimes it is with the foods that cost more money. I will admit that breakfast food is one of my greatest weaknesses. As little as ten years ago, it would not be uncommon for me to stop by Hardees or Burger King or McDonalds and grab a “meal” that included a breakfast sandwich, hash browns, and a soda. Of course, I would supersize that and it would end up costing around $5 a day easily. One might think that it is not too bad a deal to get a meal for $5 for one. Well, simply plug that into a handy calculator (with the interest of course) and out jumps a figure of $22,790.52. Believe me, when things are looked at in the long run, it can be quite the sobering ordeal.
You can go less expensive. It merely takes planning and about fifteen minutes of your time. I have looked at food for what it is: fuel for the body. Here is what I did: I bought a large container of oatmeal and a bag of brown sugar for around $4.00 at the local grocery store. That is enough for one to eat for an entire month. So, that works out to be $24 per month savings. for ten years it could generate$1,040 in five years (no interest in this example) for paying off your credit card debt. And this is just for one year. Now it is known that some people detest oatmeal, but you could find similar saving by making your own breakfast and buying soda in a two liter bottle (on sale, of course). You should ask yourself, “Why am I wasting money by eating at the drive-through? Can I make it myself for less? What are my long-term goals?” To get out of credit card debt, CHANGE YOUR MINDSET!
For a great credit card reduction plan, click here.
Tags: credit card debt elimination, money, savings, spending plan
