Hey there:) Been a while! How are you doing?
I know it's been a while since I've posted anything...as I heard a brilliant and inspiring economist, Tim Jackson, say in his TED talk, I've been busy keeping out the giraffes. (If you want to know what that means, watch the talk.)
I titled this post "Rolling with the Waves" because I don't particularly like the phrase "rolling with the punches" for the context of this post. For the past few months Dave and I have been rolling with the waves...life hasn't been throwing punches, just tossing waves. When this happens I find I reach a space where I come back to myself and awaken, yet again, to what is truly important in my life. And one of those things is writing, and in particular, writing this blog. It doesn't even matter if anyone reads it...I just want to write it and that's enough reason for me! So, I'm recommitting.
I glanced at the older posts before starting this one and the Budget update caught my eye. I haven't been keeping you up-to-date with a monthly budget confession, but that's okay...Dave and I are still doing well. The main thing I've realized with this budget and with our personal situation, is to "roll with the waves" of fluctuating finances. Our income and expenses change frequently, which means our budget requires maintenance. I send it out for servicing at least monthly, and it comes back all shiny and neat...then a few weeks later it's looking a little rough around the edges again. That's okay too!
To me, that just means that we are remaining conscious of it and doing our best to hold to the principles. We have made continuing efforts to reduce our expenses (getting better rates on bills like internet, phone, cable, and continuing to find smarter ways to shop), and have gotten creative in terms of our income as well, making sure that money coming in and going out are in balance. And, most importantly, we are continuing to live on cash for our regular weekly expenses. And let me tell you, after nearly 7 months of using this method, I wouldn't go back. I love knowing that the money in my bank account is for things set to come out of my account (larger, fixed expenses), and my family's life expenses are met (food, allowances, entertainment, clothes, etc).
Reminding myself that this year is one of transition for this family is key to rolling with the waves. "This too shall pass" doesn't sound heavy to me anymore, like I'm carrying some great burden...it sounds rather hopeful. That things are in a constant state of change is more of a reality to me now and it's wonderful. I am grateful for it, rather than fearful of it! To balance that is patience...not being in too much of a hurry for things to change. They will, in their own time, and not before. If we resist that fact and try to force reality into our own idea of what it should be, we will create for ourselves a world of suffering and disappointment. Not one I want to live in.
When you don't resist the waves, sometimes they may take you in a direction you didn't expect, but if you can roll with that you'll often find that what you didn't expect is wonderful.
-e:)
Thursday, October 21, 2010
Tuesday, August 24, 2010
What's Worth Your Coin?
Hey out there:)
We have spent many posts showing and encouraging you to spend less, save more, and just plain be more conscious about your money, but I also wanted to balance that with something equally as important; knowing what you DO feel is worth spending your money on.
Here are a few small things I am not willing to compromise on; toilet paper, garbage bags, tea, and shampoo. We tried buying the cheapest bulk pack of toilet paper once, and I realized very quickly that a minimum quality of toilet paper is required for me to have a happy life. I don't need the premium brand that costs $20 for 4 rolls, however, I do require 2-ply and NOT feeling like sandpaper.
Garbage bags; here is where buying the really cheap ones can actually cost you more in the long run. The really cheap brands tear open really easily, so you end up having to double up on the bags anyway. Not eco or wallet friendly!
Tea; I drink a fair amount of tea and, though I have pretty pedestrian tastes when it comes to the tea, I don't want a tea bag that will take an hour to steep a weak cup of tea. Ideally, I would like to get two cups of tea out of each bag. This is a case where it is worth spending a bit more money on a quality tea bag, so that you can actually get twice the distance out of each one and save money overall.
And shampoo; okay, I'll admit that I simply can NOT stand to have dry or unmanageable hair. It makes me crazy, and like the toilet paper, makes it more difficult to maintain my happiness. Therefore, it is a luxury I don't mind indulging in. I will by a pretty expensive shampoo and conditioner, however, I only wash my hair every second day and with the more expensive brands, less of the product goes a long way. A bottle usually lasts me several months (I am the only one who uses it).
So consider, as you are trying to cut your expenses and shop more consciously, the things that you might not want to go to the cheap extreme on. There is, in fact, a difference between 'cheap' and 'inexpensive':)
Ciao for now, folks!
-Erin
We have spent many posts showing and encouraging you to spend less, save more, and just plain be more conscious about your money, but I also wanted to balance that with something equally as important; knowing what you DO feel is worth spending your money on.
Here are a few small things I am not willing to compromise on; toilet paper, garbage bags, tea, and shampoo. We tried buying the cheapest bulk pack of toilet paper once, and I realized very quickly that a minimum quality of toilet paper is required for me to have a happy life. I don't need the premium brand that costs $20 for 4 rolls, however, I do require 2-ply and NOT feeling like sandpaper.
Garbage bags; here is where buying the really cheap ones can actually cost you more in the long run. The really cheap brands tear open really easily, so you end up having to double up on the bags anyway. Not eco or wallet friendly!
Tea; I drink a fair amount of tea and, though I have pretty pedestrian tastes when it comes to the tea, I don't want a tea bag that will take an hour to steep a weak cup of tea. Ideally, I would like to get two cups of tea out of each bag. This is a case where it is worth spending a bit more money on a quality tea bag, so that you can actually get twice the distance out of each one and save money overall.
And shampoo; okay, I'll admit that I simply can NOT stand to have dry or unmanageable hair. It makes me crazy, and like the toilet paper, makes it more difficult to maintain my happiness. Therefore, it is a luxury I don't mind indulging in. I will by a pretty expensive shampoo and conditioner, however, I only wash my hair every second day and with the more expensive brands, less of the product goes a long way. A bottle usually lasts me several months (I am the only one who uses it).
So consider, as you are trying to cut your expenses and shop more consciously, the things that you might not want to go to the cheap extreme on. There is, in fact, a difference between 'cheap' and 'inexpensive':)
Ciao for now, folks!
-Erin
Tuesday, August 3, 2010
Budget Update - Month 3 "Okay...let's keep going!"
Wow! Another month come and gone. Always hard for me to believe how fast the time goes...and that I always intend to write more on this blog than just these monthly updates, but sometimes it just gets away from you:) Lots of great family time and enjoying the beautiful summer weather with friends, so we definitely can't complain!
In that vein, it'd like to focus on having fun and staying active while you're trying to live on a budget and reduce your expenses. It's easy to get into a habit of thinking that "going out" equals spending money. It's easy to blow $50 - $100 going out for a day, or even just an evening to a movie and dinner. So what do you do when your weekly family entertainment budget is $36 (and that also includes coffee at Bridgehead or Starbucks)?
Well, for starters, you change your ideas about what it means to "go out". It's great to treat yourself to a movie or a nice dinner sometimes, when you have the cash to do that; however, we've spent a lot of time this past month doing a wide range of really fun stuff that costs little to nothing.
Some examples? A friend of ours had the great idea to bring the kids to our local beach every Saturday morning. We meet there with our kids and they can play in the sand and water, the adults have time to play and socialize too (and, yes, we even get our toes wet from time to time!) We pack snacks and drinks from home, arrive early (around 10am) before the sun is too hot and the beach is too crowded, and go back home around 12 or 12:30 in time for lunch. Grand total for this awesome beach time? $2 for parking. If you don't have a beach near your home (or don't like the beach, for some unfathomable reason!), consider a park with a great play area for the kids and bring picnic blankets.
For those rare moments when the kids are with grandma and grandpa and it's just the adults, try going to some area of your city that you haven't been before and just explore. Recently, Dave and I went to a specific part of our town to check out some independently owned shops I'd read about. We parked the car and walked around the area, going into whatever shop attracted us at that time, and then sat by the river for a while just talking, enjoying the beautiful weather. Now this outing was a little more expensive for us because we decided to treat ourselves to lunch at a pub, but had we not decided to do that, the grand total would have been $10; $5 for a jar of specialty jam from one shop and $5 for an apron Dave found at a cool place that sold every kind of cooking utensil (for personal and professional use) you could imagine (except, oddly, cooling racks). Had we planned differently, we may have either eaten lunch at home before going out or packed a picnic lunch for us to eat on the banks of the river. Another thing Dave and I like to do together is go to open houses and look at the houses for sale around the city. It's a lot of fun, actually, though if you're going to do it and have no intention of buying, try not to waste the real estate agent's time if other prospective buyers are there.
Whatever it is you enjoy doing, be creative and figure out how you can do it (or something as satisfying) for little to no cost. Try geocaching if you enjoy being outdoors and treasure hunting (www.geocaching.com). Go to flea markets and antique stores, but only bring $10 - $20 and see what kinds of treasures you can find. Check out your local events calendar and see if there are free/inexpensive events happening in your area. Planning in advance is a great way to reduce your expenses. Always bring some water and snacks with you when you go out, even if you think you won't be gone that long. Pack lunch if you know you'll be gone all day.
There are many wonderful ways to enjoy yourself without breaking the bank or blowing your cash budget! Just get creative...use the ideas I've shared to come up with some great ones of your own, built on what you enjoy doing. We'd also love to hear your ideas and any other comments you have!
Thanks for reading, folks! Til next time!
-Erin and Dave
In that vein, it'd like to focus on having fun and staying active while you're trying to live on a budget and reduce your expenses. It's easy to get into a habit of thinking that "going out" equals spending money. It's easy to blow $50 - $100 going out for a day, or even just an evening to a movie and dinner. So what do you do when your weekly family entertainment budget is $36 (and that also includes coffee at Bridgehead or Starbucks)?
Well, for starters, you change your ideas about what it means to "go out". It's great to treat yourself to a movie or a nice dinner sometimes, when you have the cash to do that; however, we've spent a lot of time this past month doing a wide range of really fun stuff that costs little to nothing.
Some examples? A friend of ours had the great idea to bring the kids to our local beach every Saturday morning. We meet there with our kids and they can play in the sand and water, the adults have time to play and socialize too (and, yes, we even get our toes wet from time to time!) We pack snacks and drinks from home, arrive early (around 10am) before the sun is too hot and the beach is too crowded, and go back home around 12 or 12:30 in time for lunch. Grand total for this awesome beach time? $2 for parking. If you don't have a beach near your home (or don't like the beach, for some unfathomable reason!), consider a park with a great play area for the kids and bring picnic blankets.
For those rare moments when the kids are with grandma and grandpa and it's just the adults, try going to some area of your city that you haven't been before and just explore. Recently, Dave and I went to a specific part of our town to check out some independently owned shops I'd read about. We parked the car and walked around the area, going into whatever shop attracted us at that time, and then sat by the river for a while just talking, enjoying the beautiful weather. Now this outing was a little more expensive for us because we decided to treat ourselves to lunch at a pub, but had we not decided to do that, the grand total would have been $10; $5 for a jar of specialty jam from one shop and $5 for an apron Dave found at a cool place that sold every kind of cooking utensil (for personal and professional use) you could imagine (except, oddly, cooling racks). Had we planned differently, we may have either eaten lunch at home before going out or packed a picnic lunch for us to eat on the banks of the river. Another thing Dave and I like to do together is go to open houses and look at the houses for sale around the city. It's a lot of fun, actually, though if you're going to do it and have no intention of buying, try not to waste the real estate agent's time if other prospective buyers are there.
Whatever it is you enjoy doing, be creative and figure out how you can do it (or something as satisfying) for little to no cost. Try geocaching if you enjoy being outdoors and treasure hunting (www.geocaching.com). Go to flea markets and antique stores, but only bring $10 - $20 and see what kinds of treasures you can find. Check out your local events calendar and see if there are free/inexpensive events happening in your area. Planning in advance is a great way to reduce your expenses. Always bring some water and snacks with you when you go out, even if you think you won't be gone that long. Pack lunch if you know you'll be gone all day.
There are many wonderful ways to enjoy yourself without breaking the bank or blowing your cash budget! Just get creative...use the ideas I've shared to come up with some great ones of your own, built on what you enjoy doing. We'd also love to hear your ideas and any other comments you have!
Thanks for reading, folks! Til next time!
-Erin and Dave
Friday, July 9, 2010
Budget Update - Month 2 Lessons Learned
Whew!
Can't really say for sure what I was doing that I was too busy to update the blog, but June must have been a hectic month! Well, here I am and here's our update; better late than never:)
Continuing to learn as we go, we have tweaked our jar budgets a couple of times, as we recognized that we were consistently over-spending on food/personal care items, despite best efforts to shop consciously. We determined that we simply had not budgeted enough in this category and increased it by $50/month (making adjustments in other budget categories to account for this change). Since that change, we are doing much better. We also realized that it is a smart idea to get a little "ahead of yourself" in purchasing meat when grocery shopping (get meat that's on sale or "club pack" size and freeze it, so you have slightly more than what you need for a week). It's probably the most costly food item on your list, so it's handy to have a little extra in the freezer for weeks when there might not be good sales, so you won't have to buy as much and spend that extra money.
Another thing I learned is that Dave is GREAT at cooking tofu. Even if you buy the organic kind (which we recommend, since soy absorbs toxins very readily), it's only around $2.50 per block. Last week we used the one block of tofu in 3 meals! I'll get him to post his tofu nuggets recipe and I dare you to try it...it's fantastic!!
But I digress.
We also took some steps to lighten our budget load last month. Our roommate moved out and we no longer needed the extra bandwidth insurance on our internet bill, so we cancelled that and saved $15/mth. I also took my final driver's test and so reduced my auto insurance significantly. Similarly, I changed my life insurance policy, so I'm paying less per month. I'm also very glad to say that, after a pretty stressful couple of weeks, we finalized the refinancing of our house and paid down the high interest debts we had. We also managed to secure a very low fixed interest rate on the mortgage, so this was a smart way to get a handle on that debt load.
We're becoming more aware, I think, that this is something you have to be constantly conscious of and working on together. Mutual support is so important. We want to live within our means, but not limit ourselves. We want to be conscious of what we spend, but not cease to have fun in our lives. Balance is what we are striving for, and we are pretty close to achieving that. The budget, however, needs to be tweaked consistently to reflect the reality of our situation. I suppose it might be easy to do it once if we lived in a world with fixed and stable incomes and expenses, but these things fluctuate (with the phases of the moon, it seems...), so you have to look at it regularly and make adjustments.
Another thing we just decided to do is have a look at our bank account transactions at the end of each week (after we balance the budget binder/jars) to see what we have spent using our debit cards. We are trying to be vigilant in not using them unless necessary, but we don't have cash for every purchase. Briefly reviewing our account transactions will give us a picture of what we are spending and where, that is other than what is accounted for in the jars.
The last thing I want to write about is our child. We've decided to start teaching him about money, spending and saving, so I took him last month and opened a bank account for him. He decided for himself that he wanted to save 40% of his allowance each week. (I showed him 5 rocks and asked him if these were dollars how many he thought he would like to save, and he chose 2.) So he puts $2 in his piggy bank, and we will deposit this when he has a significant amount. His other $3 he can choose to spend on something, or save them for a bigger purchase, like a game or toy. He has a particular item he would like to get soon and so we calculated that it would take 13 allowances for him to save what he needs and then we made him a chart with little pockets on it to hold 13 loonies and 13 twonies. We will also give him opportunities to do "extra" tasks to earn an extra $3/task, so he can save his money faster. We think it's really important to teach him a healthy appreciation for money, how it it earned, how it is saved, and how it is spent.
Well, that's about it for our update! More news to come on the Kitchen Revamp Challenge soon enough! Still working on getting the house in order (Purge! Purge! Purge!), so the garage can be put in order, so we can get started on painting those cupboard doors :)
Wish us luck! Ciao for now folks!!
-Erin and Dave
Can't really say for sure what I was doing that I was too busy to update the blog, but June must have been a hectic month! Well, here I am and here's our update; better late than never:)
Continuing to learn as we go, we have tweaked our jar budgets a couple of times, as we recognized that we were consistently over-spending on food/personal care items, despite best efforts to shop consciously. We determined that we simply had not budgeted enough in this category and increased it by $50/month (making adjustments in other budget categories to account for this change). Since that change, we are doing much better. We also realized that it is a smart idea to get a little "ahead of yourself" in purchasing meat when grocery shopping (get meat that's on sale or "club pack" size and freeze it, so you have slightly more than what you need for a week). It's probably the most costly food item on your list, so it's handy to have a little extra in the freezer for weeks when there might not be good sales, so you won't have to buy as much and spend that extra money.
Another thing I learned is that Dave is GREAT at cooking tofu. Even if you buy the organic kind (which we recommend, since soy absorbs toxins very readily), it's only around $2.50 per block. Last week we used the one block of tofu in 3 meals! I'll get him to post his tofu nuggets recipe and I dare you to try it...it's fantastic!!
But I digress.
We also took some steps to lighten our budget load last month. Our roommate moved out and we no longer needed the extra bandwidth insurance on our internet bill, so we cancelled that and saved $15/mth. I also took my final driver's test and so reduced my auto insurance significantly. Similarly, I changed my life insurance policy, so I'm paying less per month. I'm also very glad to say that, after a pretty stressful couple of weeks, we finalized the refinancing of our house and paid down the high interest debts we had. We also managed to secure a very low fixed interest rate on the mortgage, so this was a smart way to get a handle on that debt load.
We're becoming more aware, I think, that this is something you have to be constantly conscious of and working on together. Mutual support is so important. We want to live within our means, but not limit ourselves. We want to be conscious of what we spend, but not cease to have fun in our lives. Balance is what we are striving for, and we are pretty close to achieving that. The budget, however, needs to be tweaked consistently to reflect the reality of our situation. I suppose it might be easy to do it once if we lived in a world with fixed and stable incomes and expenses, but these things fluctuate (with the phases of the moon, it seems...), so you have to look at it regularly and make adjustments.
Another thing we just decided to do is have a look at our bank account transactions at the end of each week (after we balance the budget binder/jars) to see what we have spent using our debit cards. We are trying to be vigilant in not using them unless necessary, but we don't have cash for every purchase. Briefly reviewing our account transactions will give us a picture of what we are spending and where, that is other than what is accounted for in the jars.
The last thing I want to write about is our child. We've decided to start teaching him about money, spending and saving, so I took him last month and opened a bank account for him. He decided for himself that he wanted to save 40% of his allowance each week. (I showed him 5 rocks and asked him if these were dollars how many he thought he would like to save, and he chose 2.) So he puts $2 in his piggy bank, and we will deposit this when he has a significant amount. His other $3 he can choose to spend on something, or save them for a bigger purchase, like a game or toy. He has a particular item he would like to get soon and so we calculated that it would take 13 allowances for him to save what he needs and then we made him a chart with little pockets on it to hold 13 loonies and 13 twonies. We will also give him opportunities to do "extra" tasks to earn an extra $3/task, so he can save his money faster. We think it's really important to teach him a healthy appreciation for money, how it it earned, how it is saved, and how it is spent.
Well, that's about it for our update! More news to come on the Kitchen Revamp Challenge soon enough! Still working on getting the house in order (Purge! Purge! Purge!), so the garage can be put in order, so we can get started on painting those cupboard doors :)
Wish us luck! Ciao for now folks!!
-Erin and Dave
Sunday, May 23, 2010
Flyers and Conscious Shopping
20 Grocery Store Savings Ideas: Grocery Coupon Savings Tips For Those Grocery Shopping On A Budget
I have never been someone who coupon clipped, flyer perused or even looked at the prices of the stuff I was buying when I grocery shopped, so I completely understand unconscious shopping and how easy it is to do. I'm turning over a new leaf now, however, (thanks in no small part to Dave) and am on the path to shopping enlightenment.
Now, I also believe in moderation in all things, so I will not ever become someone who will drive all over town just to use all the coupons I've clipped or to save $0.10 on a head of lettuce. It doesn't make sense to spend that much more on gas and your valuable time to save a few cents on groceries. There are some simple things you can do, however, that can lead to significant savings when you're shopping.
First, decide what is a priority to you. Do you value quality in your food or clothes, toys or entertainment? When you know what you're not willing to compromise on, you have a realistic foundation on which to build your new shopping practices. For Dave and I, food is fundamental. We love to eat and to eat well. Spending a lot of money on or having an excess of clothes and electronics, however, is not so much a priority. So now we know where we can scale back and where we want to maintain a certain level of quality.
Second, know where you like to shop. Some people are loyal to certain stores/brands, and that is fine, but if you're not willing to shop around and buy where the best deal is, learn how to take advantage of your favourite store or brands incentives. For example, if you are loyal to Future Shop, make sure you check the prices of all their competitors and take advantage of their price beat policy. Also, search their flyers and hard copy and online coupons regularly; join any membership clubs to receive notices of sales and promotions and sign up for the card to collect points for special rewards.
Third, scan the flyers before you shop. This is actually well worth doing. As an example, Dave and I check out the flyers every week for the grocery stores. While doing this, we find the best deals on meats, fruits and vegetables, and other household staples like toilet paper and detergents. This process can also be great for helping you plan your meals for the week. Picking up the things that are the best deal each week can often mean you get a variety and affords you the opportunity to try new things and get creative. Unconscious shoppers not only don't pay attention to how much their spending, but often just buy the same things over and over as well.
Fourth, when you are actually in the store, compare prices. If you're looking at tins of corn niblets, is it really worth spending $1.19 for a brand name, when the generic is $0.69? Sure, there are some things you won't want to buy the generic or no name version of because the quality is significantly different and it's important to you. I remember buying a really inexpensive brand of toilet paper at Costco once and swore never to buy it again. I didn't know I could hate a toilet paper that much. But I discovered from that experience that I have a certain standard that is worth the extra couple of dollars to me! In many cases, however, the less expensive item is a great value.
Fifth, have a list of things you want to purchase that are not regular items (make a note of their regular retail price as well) and check the flyers regularly for sales or price reductions. (Of course, always check out Craig's List, Kijiji, and other local online sites for used or free items, and check out your local garage sales and estate or repo auctions.) Dave has needed a ladder for a while and recently noticed that Home Depot had reduced the price on a ladder he'd been looking at from $156 to $99! That's a significant reduction, so he went and picked up the ladder.
So, the basic message is "wake up". Become a little more conscious of how you shop, where you shop, and how you might be able to do it in a way that could save you significant money. A word of caution, though; just because something is on sale, doesn't mean you have to buy it! Conscious shopping also means buying with intention, only purchasing what you need and will use.
Until next time, folks! Happy shopping :)
-Erin and Dave
I have never been someone who coupon clipped, flyer perused or even looked at the prices of the stuff I was buying when I grocery shopped, so I completely understand unconscious shopping and how easy it is to do. I'm turning over a new leaf now, however, (thanks in no small part to Dave) and am on the path to shopping enlightenment.
Now, I also believe in moderation in all things, so I will not ever become someone who will drive all over town just to use all the coupons I've clipped or to save $0.10 on a head of lettuce. It doesn't make sense to spend that much more on gas and your valuable time to save a few cents on groceries. There are some simple things you can do, however, that can lead to significant savings when you're shopping.
First, decide what is a priority to you. Do you value quality in your food or clothes, toys or entertainment? When you know what you're not willing to compromise on, you have a realistic foundation on which to build your new shopping practices. For Dave and I, food is fundamental. We love to eat and to eat well. Spending a lot of money on or having an excess of clothes and electronics, however, is not so much a priority. So now we know where we can scale back and where we want to maintain a certain level of quality.
Second, know where you like to shop. Some people are loyal to certain stores/brands, and that is fine, but if you're not willing to shop around and buy where the best deal is, learn how to take advantage of your favourite store or brands incentives. For example, if you are loyal to Future Shop, make sure you check the prices of all their competitors and take advantage of their price beat policy. Also, search their flyers and hard copy and online coupons regularly; join any membership clubs to receive notices of sales and promotions and sign up for the card to collect points for special rewards.
Third, scan the flyers before you shop. This is actually well worth doing. As an example, Dave and I check out the flyers every week for the grocery stores. While doing this, we find the best deals on meats, fruits and vegetables, and other household staples like toilet paper and detergents. This process can also be great for helping you plan your meals for the week. Picking up the things that are the best deal each week can often mean you get a variety and affords you the opportunity to try new things and get creative. Unconscious shoppers not only don't pay attention to how much their spending, but often just buy the same things over and over as well.
Fourth, when you are actually in the store, compare prices. If you're looking at tins of corn niblets, is it really worth spending $1.19 for a brand name, when the generic is $0.69? Sure, there are some things you won't want to buy the generic or no name version of because the quality is significantly different and it's important to you. I remember buying a really inexpensive brand of toilet paper at Costco once and swore never to buy it again. I didn't know I could hate a toilet paper that much. But I discovered from that experience that I have a certain standard that is worth the extra couple of dollars to me! In many cases, however, the less expensive item is a great value.
Fifth, have a list of things you want to purchase that are not regular items (make a note of their regular retail price as well) and check the flyers regularly for sales or price reductions. (Of course, always check out Craig's List, Kijiji, and other local online sites for used or free items, and check out your local garage sales and estate or repo auctions.) Dave has needed a ladder for a while and recently noticed that Home Depot had reduced the price on a ladder he'd been looking at from $156 to $99! That's a significant reduction, so he went and picked up the ladder.
So, the basic message is "wake up". Become a little more conscious of how you shop, where you shop, and how you might be able to do it in a way that could save you significant money. A word of caution, though; just because something is on sale, doesn't mean you have to buy it! Conscious shopping also means buying with intention, only purchasing what you need and will use.
Until next time, folks! Happy shopping :)
-Erin and Dave
Wednesday, May 12, 2010
I'm in Love with Gail Vaz- Oxlade
Gail Vaz-Oxlade, for those of you who don't know, is the personal finance genius who stars in Til Debt Do U$ Part on Slice. I started watching this show a couple of months ago when Dave and I first started talking about how to get our finances under control. (I was just looking for something to watch in the middle of the afternoon while spending time with the baby.) I fell in love with the show and with Gail for two reasons; first, the show highlighted real people who were courageous enough to face up to and seek help for them debt issues, and second, Gail helped people deal with these issues in practical, doable and realistic ways...her approach is no-nonsense, but she has a soft touch at the same time.
I don't know what took me so long to Google her and see what was online, but I only did that this week and discovered her blog . Gail's blog is not only interesting and easy to read, but she also provides a WONDERFUL array of resources, tips, tools and articles for people to download and put to use to help them get on the road to debt freedom and financial health. For example, I downloaded the budget spreadsheet that has all the fields and formulas set up, so all you do is punch in your numbers and it does all sorts of great calculations for you. It tells you what percentage of your income is spent on what parts of you life (housing, transportation, etc) and what percentage it should be; it shows you how much money should be allocated to the "money jars", if you are implementing this neat tool of hers to monitor and control your spending; it also allows you to develop a balanced budget that accounts for things like an emergency fund and savings. Just this tool and the article on setting up the Budget Binder are worth the price of admission (which, btw, is $0)!
I highly recommend Gail, her show, her blog, her tools and everything else related to Gail Vaz-Oxlade! I'll be referring to her again and updating you all on how the use of her tools is working for us.
Cheers!
-Erin and Dave
I don't know what took me so long to Google her and see what was online, but I only did that this week and discovered her blog . Gail's blog is not only interesting and easy to read, but she also provides a WONDERFUL array of resources, tips, tools and articles for people to download and put to use to help them get on the road to debt freedom and financial health. For example, I downloaded the budget spreadsheet that has all the fields and formulas set up, so all you do is punch in your numbers and it does all sorts of great calculations for you. It tells you what percentage of your income is spent on what parts of you life (housing, transportation, etc) and what percentage it should be; it shows you how much money should be allocated to the "money jars", if you are implementing this neat tool of hers to monitor and control your spending; it also allows you to develop a balanced budget that accounts for things like an emergency fund and savings. Just this tool and the article on setting up the Budget Binder are worth the price of admission (which, btw, is $0)!
I highly recommend Gail, her show, her blog, her tools and everything else related to Gail Vaz-Oxlade! I'll be referring to her again and updating you all on how the use of her tools is working for us.
Cheers!
-Erin and Dave
Wednesday, May 5, 2010
Budget Update - Month 1 Lessons Learned
Hello Y'all,
So April ended and we added up the receipts from the groceries and incidentals (remember, we had budgeted $300 for groceries and $400 for incidentals) and we were pretty much spot on with our budgeting. We spent $298 on food and actually closer to $450 for incidentals, but there were a few unexpected things that came up in there, so a $50 surplus wasn't actually too bad. It was the first month doing this and our goal was to practice and just begin setting up good habits around our spending.
Things we observed;
So, now we're off to the races for May and we'll update you again in the beginning of June!
Thanks for watching!
-E & D
Get a Financial Life: Personal Finance In Your Twenties and Thirties
So April ended and we added up the receipts from the groceries and incidentals (remember, we had budgeted $300 for groceries and $400 for incidentals) and we were pretty much spot on with our budgeting. We spent $298 on food and actually closer to $450 for incidentals, but there were a few unexpected things that came up in there, so a $50 surplus wasn't actually too bad. It was the first month doing this and our goal was to practice and just begin setting up good habits around our spending.
Things we observed;
- it was easier to remember to keep the grocery receipts than the incidentals
- you have to remember to actually keep cash on you when you go out, so that you don't end up using your debit card
- don't take too much cash with you, so you are able to stick to your budget
- you definitely become more conscious of your spending and start to question every purchase
- you need to write down all the money you take from each box and change you put back in with the receipts
So, now we're off to the races for May and we'll update you again in the beginning of June!
Thanks for watching!
-E & D
Get a Financial Life: Personal Finance In Your Twenties and Thirties
Wednesday, April 21, 2010
Kitchen Revamp Challenge: Part II
Everything and the Kitchen Sink: Remodel Your Kitchen without Losing Your Mind
Hello All!
So Dave and I popped out to a tile showroom today on our lunch break to have a look around. Our idea for the backsplash is to use subway tile (roughly 35 to 40 cents per tile) - great, clean look for a very low cost - and to accent it with a more expensive tile. This is a great way to add a lot of beauty to a space without spending a huge amount of money. We had spotted some tile at Lowes that we really liked for the accent. It was $22.22 per square foot (these small fancy tiles are sold in square foot sheets). They also have a 20% off sale right now (until the end of April), but there was no signage to that effect; we only found out because we spoke to the guy who works there. Since we'd only need two sheets to do our basic accent (one row of the accent tiles across the backsplash), this would have cost us around $40. Great price!
We decided to wait and check out another tile place first. This store is one that specializes in tile and only tile. The showroom was stunning and they had some amazing tiles. The prices here are generally high because they deal in high quality tile. Dave and I, however, were going with a purpose. When these stores discount their tile, it can be a great place to find amazing deals. After a stroll around to look at the regularly priced stuff :) we moved on to the clearance section and found a beautiful green glass tile that is just perfect for our backsplash. It was regularly just over $17/sq ft, and was marked down to $8.60/sq ft. We did a quick calculation of our needs and decided to purchase 5 sheets. This brought our grand total to $48 and some change - more than what we would have paid at Lowes - but we got a tile we really love, and we are now able to do a 3-inch row of tile across the wall, instead of 1-inch, and we are going to try a vertical design behind the stove, which looks stunning in Sketch Up! (I really can't wait to take some pictures and post them here...We'll be sure to take befores and afters.)
So here's the running budget so far;
Supplies Budget Actual
Paint $60 $16.98
36 Hinges $150
Countertop $220 (Ikea)
Backsplash $347 $43
Countertop lighting $60
Miscellaneous $50
Subtotal $887 $59.98
Taxes $133.05 $7.80
Total $1,020.05 $67.78
Not bad so far! Looking forward to continuing this challenge. I'm going away for a few days this week and Dave will have his exams early next week, so we'll pick this up again then...and actually get started on painting those cupboards!!
'Til then, party people:)
-Erin and Dave
The Black & Decker Complete Guide to Kitchens: *Do-it-yourself and Save *Third Edition *Design & Planning *Quick Updates *Custom Cabinetry *Remodeling Projects on a Budget
Hello All!
So Dave and I popped out to a tile showroom today on our lunch break to have a look around. Our idea for the backsplash is to use subway tile (roughly 35 to 40 cents per tile) - great, clean look for a very low cost - and to accent it with a more expensive tile. This is a great way to add a lot of beauty to a space without spending a huge amount of money. We had spotted some tile at Lowes that we really liked for the accent. It was $22.22 per square foot (these small fancy tiles are sold in square foot sheets). They also have a 20% off sale right now (until the end of April), but there was no signage to that effect; we only found out because we spoke to the guy who works there. Since we'd only need two sheets to do our basic accent (one row of the accent tiles across the backsplash), this would have cost us around $40. Great price!
We decided to wait and check out another tile place first. This store is one that specializes in tile and only tile. The showroom was stunning and they had some amazing tiles. The prices here are generally high because they deal in high quality tile. Dave and I, however, were going with a purpose. When these stores discount their tile, it can be a great place to find amazing deals. After a stroll around to look at the regularly priced stuff :) we moved on to the clearance section and found a beautiful green glass tile that is just perfect for our backsplash. It was regularly just over $17/sq ft, and was marked down to $8.60/sq ft. We did a quick calculation of our needs and decided to purchase 5 sheets. This brought our grand total to $48 and some change - more than what we would have paid at Lowes - but we got a tile we really love, and we are now able to do a 3-inch row of tile across the wall, instead of 1-inch, and we are going to try a vertical design behind the stove, which looks stunning in Sketch Up! (I really can't wait to take some pictures and post them here...We'll be sure to take befores and afters.)
So here's the running budget so far;
Supplies Budget Actual
Paint $60 $16.98
36 Hinges $150
Countertop $220 (Ikea)
Backsplash $347 $43
Countertop lighting $60
Miscellaneous $50
Subtotal $887 $59.98
Taxes $133.05 $7.80
Total $1,020.05 $67.78
Not bad so far! Looking forward to continuing this challenge. I'm going away for a few days this week and Dave will have his exams early next week, so we'll pick this up again then...and actually get started on painting those cupboards!!
'Til then, party people:)
-Erin and Dave
The Black & Decker Complete Guide to Kitchens: *Do-it-yourself and Save *Third Edition *Design & Planning *Quick Updates *Custom Cabinetry *Remodeling Projects on a Budget
Monday, April 19, 2010
Kitchen Revamp Challenge: Part I
Been a while! This has been a crazy month for Dave and I. He's trying to get everything wrapped up for school and I'm working on a few new projects for work...all the while managing the kids and trying to live within our newly formed budget. (That's going pretty well...but more on that at the end of the month...)
Recently, we decided that the kitchen in this house needs a lot of work. Okay...it wasn't so much a decision as an acknowledgment. I've been dying to replace my kitchen cupboards and countertop for many years now. Dave suggested that we could just paint the cupboards and replace the countertop and maybe do a backsplash and that would give it a whole new look and feel. I hemmed and hawed for a few minutes because I detest the cupboards, but then I saw his point and also accepted the fact that I want it done and don't have the finances to afford a full kitchen reno. (I have long ago accepted the fact that I won't be applying for any more credit, so anything I do or buy has to be with cash.)
So we started pricing stuff out and came up with a budget that was roughly $1,000 (see the table below). We think this is a reasonable estimate for what we want to do. But then the spark of genius; let's see just how far under budget we can do this for! That's the challenge: we will paint the cupboards, replace the hinges (the knobs are newer and very nice, so we will reuse those), replace the countertop and get some new countertop lighting, and do a backsplash for as inexpensively as possible against our original estimated budget of $1,000. The table below shows our budget and I will keep reposting it as we purchase the different parts required with the actual costs filled in.
We achieved our first big savings this past week when we took an impromptu trip to Lowes, just to look around, and found gallons of paint on sale. We purchased 2 gallons of paint, regularly priced at just over $33 each for $8.49 each. (As a side note, we also found a small can of white touch up paint that we needed for the ceiling on sale for $3.49.) This brought our budget for paint down from $60 to just under $20 (see table below)!
Another idea we had was to have some paint that I have in my garage re-tinted. Some places will do this for you for free or a nominal charge. That is another great way to save money and also spare the environmental costs of disposing of unused paint. We will still do that for another project, if at all possible.
Supplies Budget Actual
Paint $60 $16.98
36 Hinges $150
Countertop $220 (Ikea)
Backsplash $347
Countertop lighting $60
Miscellaneous $50
Subtotal $887 $16.98
Taxes $133.05 $2.21
Total $1,020.05 $19.19
We'll keep you posted as to how this is going as it develops! If you have any time/space/money saving ideas for a kitchen project, let us know!!
'Til next time!
-Erin and Dave
Recently, we decided that the kitchen in this house needs a lot of work. Okay...it wasn't so much a decision as an acknowledgment. I've been dying to replace my kitchen cupboards and countertop for many years now. Dave suggested that we could just paint the cupboards and replace the countertop and maybe do a backsplash and that would give it a whole new look and feel. I hemmed and hawed for a few minutes because I detest the cupboards, but then I saw his point and also accepted the fact that I want it done and don't have the finances to afford a full kitchen reno. (I have long ago accepted the fact that I won't be applying for any more credit, so anything I do or buy has to be with cash.)
So we started pricing stuff out and came up with a budget that was roughly $1,000 (see the table below). We think this is a reasonable estimate for what we want to do. But then the spark of genius; let's see just how far under budget we can do this for! That's the challenge: we will paint the cupboards, replace the hinges (the knobs are newer and very nice, so we will reuse those), replace the countertop and get some new countertop lighting, and do a backsplash for as inexpensively as possible against our original estimated budget of $1,000. The table below shows our budget and I will keep reposting it as we purchase the different parts required with the actual costs filled in.
We achieved our first big savings this past week when we took an impromptu trip to Lowes, just to look around, and found gallons of paint on sale. We purchased 2 gallons of paint, regularly priced at just over $33 each for $8.49 each. (As a side note, we also found a small can of white touch up paint that we needed for the ceiling on sale for $3.49.) This brought our budget for paint down from $60 to just under $20 (see table below)!
Another idea we had was to have some paint that I have in my garage re-tinted. Some places will do this for you for free or a nominal charge. That is another great way to save money and also spare the environmental costs of disposing of unused paint. We will still do that for another project, if at all possible.
Supplies Budget Actual
Paint $60 $16.98
36 Hinges $150
Countertop $220 (Ikea)
Backsplash $347
Countertop lighting $60
Miscellaneous $50
Subtotal $887 $16.98
Taxes $133.05 $2.21
Total $1,020.05 $19.19
We'll keep you posted as to how this is going as it develops! If you have any time/space/money saving ideas for a kitchen project, let us know!!
'Til next time!
-Erin and Dave
Sunday, April 4, 2010
Bring it on, Debt-Load!! You're goin' DOWN!
So, task #1 is to get a handle on the debt we have. It's not that bad, really. I've seen scarier numbers than $30K in debt. It's actually a bit higher than that when you take into consideration some personal loans we've both had (thanks to amazing family who are nothing but supportive:)). We want to take care of those debts as well, but as any of our family would tell us, taking care of the ones that are charging interest is the priority right now!
So here's the plan, I have a house that I have to remortgage anyway to take my ex off the title (he graciously gave me two years to get my income established as a self-employed individual before I had to take the mortgage on myself). So going through that now gives Dave and I the perfect opportunity to draw on some of the house's equity (though there isn't much) to take care of the most costly debt; the credit.
Credit is a wonderful thing when you know how to use it properly, but unfortunately for most people, even if we know how - we don't. The road to hell is paved with good intentions, and never in my life have I found that more true than in how i intend to use credit and where I actually end up!
Credit is great when you have the discipline (and that's all it is, people - discipline) to only use it when you actually have the cash on hand to pay it immediately. Doing that can help you establish an outstanding credit rating, which makes getting a mortgage or other loan super-easy when you need it. Also, if you have a credit card that earns you some kind of reward points, that can be a great way to build those up and reap those benefits. Those are the good intentions:)
The reality is that we end up using our credit for purchases we don't have the cash for but believe we can pay off easily or to help sustain us through periods when money is tight. That is how we end up with maxed out credit cards we can only make the minimum payments on and paying hundreds of dollars a month just servicing our debt and making the credit card companies rich on our interest. Credit Hell.
So with the remortgaging we are going through right now (as soon as I manage to get my taxes done :P ), we can pay off both credit cards and more than half the line of credit. Dave also has a decent tax return coming and we will use most of that to pay off more of the line of credit and some personal debts. With these high interest-charging debts taken care of, we can use the money we were putting towards servicing those debts every month (roughly $1000) towards paying off the rest of the line of credit (now much more manageable) and those personal debts (...not to mention my taxes from '08...YIKES!! The joys of being self-employed :) ).
In this way, by the end of the summer we will have about $30K of our debts completely paid off (well, about $20K will be refinanced into the mortgage, but that is a preferable option to simply maintaining high interest debt) and be well on our way to financial recovery! Sounds very ambitious, I know, but doing this work now will have so many long term benefits, that the few short-term sacrifices will be well worth it. And it's the first step in working towards the simple, sustainable, abundant, worry-free and joyful life we want.
In the next posting, I want to talk about how we are decreasing our household expenses and managing our cashflow in an intelligent way.
'Til then, folks!!
e
So here's the plan, I have a house that I have to remortgage anyway to take my ex off the title (he graciously gave me two years to get my income established as a self-employed individual before I had to take the mortgage on myself). So going through that now gives Dave and I the perfect opportunity to draw on some of the house's equity (though there isn't much) to take care of the most costly debt; the credit.
Credit is a wonderful thing when you know how to use it properly, but unfortunately for most people, even if we know how - we don't. The road to hell is paved with good intentions, and never in my life have I found that more true than in how i intend to use credit and where I actually end up!
Credit is great when you have the discipline (and that's all it is, people - discipline) to only use it when you actually have the cash on hand to pay it immediately. Doing that can help you establish an outstanding credit rating, which makes getting a mortgage or other loan super-easy when you need it. Also, if you have a credit card that earns you some kind of reward points, that can be a great way to build those up and reap those benefits. Those are the good intentions:)
The reality is that we end up using our credit for purchases we don't have the cash for but believe we can pay off easily or to help sustain us through periods when money is tight. That is how we end up with maxed out credit cards we can only make the minimum payments on and paying hundreds of dollars a month just servicing our debt and making the credit card companies rich on our interest. Credit Hell.
So with the remortgaging we are going through right now (as soon as I manage to get my taxes done :P ), we can pay off both credit cards and more than half the line of credit. Dave also has a decent tax return coming and we will use most of that to pay off more of the line of credit and some personal debts. With these high interest-charging debts taken care of, we can use the money we were putting towards servicing those debts every month (roughly $1000) towards paying off the rest of the line of credit (now much more manageable) and those personal debts (...not to mention my taxes from '08...YIKES!! The joys of being self-employed :) ).
In this way, by the end of the summer we will have about $30K of our debts completely paid off (well, about $20K will be refinanced into the mortgage, but that is a preferable option to simply maintaining high interest debt) and be well on our way to financial recovery! Sounds very ambitious, I know, but doing this work now will have so many long term benefits, that the few short-term sacrifices will be well worth it. And it's the first step in working towards the simple, sustainable, abundant, worry-free and joyful life we want.
In the next posting, I want to talk about how we are decreasing our household expenses and managing our cashflow in an intelligent way.
'Til then, folks!!
e
Monday, March 29, 2010
An Idea so Simple It's Brilliant!
So Dave said to me, "we should keep a journal of all these ideas and the process." And I said, "Let's blog it!"
So here we are...blogging:)
First we should introduce ourselves; I'm Erin and he's Dave (you'll hear from him later). Both divorced, both in our early 30's. I have a child from my first marriage and we have one together...both beautiful boys:) And we're madly in love. That's not the point of this blog, but it's an important key to the success of the adventure we've embarked upon. Without that, I'm not sure we could actually do it. With it, it all seems completely doable!
The Plan
Dave and I are going to pay off our debts within the next year (roughly $30,000 combined), make some upgrades to our current house (a suburban townhouse), learn to scale back our lifestyle (living on a budget that allows for savings, but does NOT deprive us of life), and plan for the purchase of land on which we want to build (ourselves) a home that is "off the grid" (not dependent on regulated sources of energy) and as self-sustaining as possible.
The Invitation
We want to blog our journey through this process to record it for ourselves and our children, but we're also hoping that there are others out there (you!) that might be able to learn from us/with us, offer us advice and be our teachers along the way, and just plain enjoy the journey as we share it with you:) We plan to share all the tips and tricks we pick up along the way and post links to all kinds of cool online resources.
Welcome:) Let the journey begin!!
So here we are...blogging:)
First we should introduce ourselves; I'm Erin and he's Dave (you'll hear from him later). Both divorced, both in our early 30's. I have a child from my first marriage and we have one together...both beautiful boys:) And we're madly in love. That's not the point of this blog, but it's an important key to the success of the adventure we've embarked upon. Without that, I'm not sure we could actually do it. With it, it all seems completely doable!
The Plan
Dave and I are going to pay off our debts within the next year (roughly $30,000 combined), make some upgrades to our current house (a suburban townhouse), learn to scale back our lifestyle (living on a budget that allows for savings, but does NOT deprive us of life), and plan for the purchase of land on which we want to build (ourselves) a home that is "off the grid" (not dependent on regulated sources of energy) and as self-sustaining as possible.
The Invitation
We want to blog our journey through this process to record it for ourselves and our children, but we're also hoping that there are others out there (you!) that might be able to learn from us/with us, offer us advice and be our teachers along the way, and just plain enjoy the journey as we share it with you:) We plan to share all the tips and tricks we pick up along the way and post links to all kinds of cool online resources.
Welcome:) Let the journey begin!!
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