Guest Blogging Round-up: November

Every Thursday, I write about all things finance from the young adult’s perspective in a series called Pennies-Nickel-Dollars over at Pretty Natural Divas.  Take a look at my posts from October and be sure to check me out  each and every Thursday! 


Pennies-Nickels-Dollars: Managing Student Loans  Tips to help you minimize and manage student loans before, during, an after college.

No Job & No Savings, Could You Survive? A look at the online game Spent that simulates the feeling financial hardship. 

5 ways cleaning out your closet can make/save you money  How to find money in your closet!

3rd Update: Short Term Goals

It's been a while (6 months!) since my last update, but I've made a lot of progress in some of my goals, mainly the financial ones!


Financial

Create a $1000 emergency fund by September 2011.  
2/11: 75% of the way there! Woo Hoo!
6/11: Savings account balance: $3175.48   Woo Hoo!!!!!!!!!!!!  I'm going to wait until September to officially set a new savings goal, but with automatic savings I should be at around $3500 even by then :)
*I almost forgot about my bank that I mentioned in the "Making Savings Fun" post,  we've raised about $54 in change lol  
12/11: On December 1st I broke the $5000 mark in my savings account!

Money Lesson: Be Observant

Last weekend, I needed to do a little shopping so I headed out to Target.  I saw a large package of toilet paper was on sale for $12 so I quickly grabbed one and headed to the checkout line.  The cashier rang up my purchase and called out the total, but as I pulled out my debit card and began to swipe, I paused..."Could you repeat that total?"  Turns out the toilet paper rang up as the original price of $15...

The same night, my fiancé and I decided to go out to eat.  We had great food, a really nice waitress, and everything was going fine...until the bill came.  There was an extra item listed on our receipt and--had I not noticed--we would have been overcharged by about $5!

So, there were mistakes on two separate occasions in the same night that could have cost me money...BUT, by paying attention as the transactions were taking place, I was able to catch these mistakes and save a few dollars.  It may not seem like $3-5 is a lot of money, but considering all the purchases you make every single month, if even a few result in you being overcharged then that $3-5 can add up!  Make sure you observant when making purchases and review all your receipts!

Guest Blogging Round-up: October

 Every Thursday, I write about all things finance from the young adult’s perspective in a series called Pennies-Nickel-Dollars over at Pretty Natural Divas.  Take a look at my posts from October and be sure to check me out  each and every Thursday! 


Daily Deal Sites: Do's and Don'ts  Tips to make sure you are making the most out of daily deal sites like Groupon and Living Social. 


Budgeting 101 + Free Budget Template A beginner's guide to making a budget, with a free template available for download.


Things Retailers Don't Tell You  A discussion of insider retail secrets used to trick shoppers into spending more.  


My Favorite Cheapie Hair Products  A rundown of my favorite hair products priced under $10.

Credit Card Paid Off!

For the first time since 2005, I checked my credit card statement online and saw this:

Woo Hoo!!!

Now I have to decide where to go from here. Originally I had planned to start using my credit card for all my monthly purchases and just pay the balance in full each month. This was due to the maintenance fees and check card fees that Suntrust bank were planning to implement, but now that they have decided not to charge these fees, I don't have a reason to stop using my debit card. I'll figure it out eventually, but for now I'm going to enjoy the feeling of the $0 balance : )

Layaway: Good, Bad or In Between?

With the holiday season quickly approaching, I’ve noticed some major retailers advertising the return of their Layaway programs. These programs work by allowing a customer to make a small down payment on items they want to buy, and make a series of payments over the course of a few weeks to finish paying for the items. In return, the retailer will guarantee that the item is in stock when it comes time for the customer to pick it up after the last payment is made. There is a service fee associated with layaway, and a customer may be faced with cancellation fees if they miss payments or decide to cancel the layaway plan. However, from looking at both the Walmart and Kmart layaway plans, service fees generally are between $5-10, and customers can get a refund if they decide to cancel the layaway.

I’ve never used layaway before and I’m not planning to use it in the future, but I am curious to know if it is a truly a benefit for shoppers. I can think of a few “pros” for using layaway:

Is Your Workplace Affecting Your Wallet?

Let me start off by saying I am absolutely grateful to have a job, but I can't help but notice how the office is affecting my budget, and I'm not even considering transportation and costs to maintain a professional wardrobe.  First there is the pressure to go out on group lunches, which are much more expensive than my homemade or frozen lunches.  Then there is the office party.  At my office, we celebrate birthdays, holidays,  weddings, boss's day, employee appreciation week, and I'm probably forgetting some other party occasions.  We take up a small monthly collections to help with the costs of parties and for office supplies like napkins and cleaning supplies, but each party requires that we either make a potluck dish or pay for catering, and contribute money for gifts.  Each party may call for a small donation, but these $5-$10 add up!

I have to admit, I do love the parties so I always choose to take part in them, but I have come up with a few ways to keep work spending in check:

Office Parties
Suggest a breakfast or afternoon snack party instead of one where the party food is serving as lunch.  This limits the amount of food everyone needs to bring, and everyone can contribute to cheaper food items than  meat items or large sandwich platters.
Offer non-monetary donations.  Bring in decorations, handmade gifts, or games you already own to serve as entertainment.
Suggest consolidating parties.  Instead of celebrating several birthdays individually, have a joint birthday party for co-worker's whose birthdays are in the same month or season.  Likewise, have one big holiday party instead of having back-to-back parties for Thanksgiving, Christmas, and New Year's.

Group Lunches
Take advantage of lunch specials offered during the day to get menu items for a cheaper price.
Split an entree with a coworker to save on costs and keep you both from over-eating :)
Swap a  restaurant meal for B.Y.O.L (bring your own lunch) get-together in the break room or at a nearby park.

So, is your workplace affecting your wallet? How much do you spend on average each month for work related expenses? Feel free to share!

Wedding Cost Estimator + My Wedding Budget

In the many hours I've spent googling wedding stuff, I found a really cool Wedding Cost Estimator tool.  The website CostOfWedding.com has polled women all across the country about their wedding expenditures, and used their responses to create a wedding cost calculator that factors in your location.

Click to go to the calculator

Just enter your zip code, answer a few questions, and with just a few clicks the tool will spit out a cost estimate for your wedding that you can print or export to an Excel spreadsheet.  Here's my estimate based on the info I put in:

Guest Blogging Round-up

For the past month, I’ve been a guest blogger at Pretty Natural Divas.  Every Thursday, I write about all topics finance from the young adult’s perspective in a series called Pennies-Nickel-Dollars.  Take a look at my posts from September and be sure to check me out  each and every Thursday! 

Startingyour financial journey in 4 easy steps A beginner’s guide to creating new financial habits

What’sYour Shopping Style?  Find your unique approach to shopping and how to overcome the pitfalls associated with your shopping style

Pennies-Nickels-Dollars:Financial Role Models  Lessons learned from my financial role models

Pennies-Nickels-Dollars:Hair Splurge!   Reflections on a recent hair product purchase

What about your Friends?

"If every player in your clique is rich your clique is rugged
Nobody will fall cause everyone would be each others crutches" -Jay-Z

Like the old saying “birds of a feather flock together,” you can tell a lot about a person by looking at who they spend the most time with.  Think about your core group of friends…you shop together, eat together, and share common interests.  However, some of your bonding activities might be hurting your wallet, and steering you away from your financial goals.  The regular girls' night out at the hot downtown restaurant or the weekly shopping excursions may be fun, but once you start monitoring your spending, you may find that A) you can’t afford it! or B) it’s hard to say no to these indulgences when everyone else is doing it...after all, it's what you guys normally do! 

So what do you do now?  Decline all invites from your crew? Replace your old friends with new frugal ones? No!

September Dine In Challenge

This month, I'm challenging myself to eat more meals at home.   I originally just wanted to curb my fast food habit, but figured why not see if I could avoid all restaurants! For the month of September, I'm giving myself only 2 free passes to eat a meal that is not prepared at home (mine or someone else's lol).  And when I say free pass, I also mean that I'm only going to eat at a restaurant if I can eat for free.  September is my birthday month, so I've racked up more than a few birthday coupons giving me free items.  Now free items are good, but a free meal is even better! With that being said, I'm planning to use a birthday certificate for Steak 'n Shake that gives me a free double steak burger with fries. Also, during the week of September 6th through 10th, Chick-Fil-A is offering a free breakfast entree, so I will probably use that as my other free pass.

Hopefully by the end of the month I'll save both money and calories, and maybe even become a better cook!

Feel free to join me! It's never too late!

Benefit$ of a Long Engagement

For as long as I've thought about getting married, I've always imagined having a long engagement.   For years I dreamed of a 5 year relationship plan-3 years dating, 2 years engaged, then happily married forever :)  I've relaxed the plan a little bit, but my fiancé and I have both agreed that a 12+ month (probably more like 18 month) engagement is right for us given the time of year we want to get married and our budget.  Now every couple is different, but I do think there are some major benefits of having a long (I define long as 9+ months) that are worth considering. 

More time to save $$$!  
Having a long engagement gives you more time to save up money for the wedding, instead of choosing to "swipe now, pay later."  There is no reason to go into debt for this one day, and by planning a wedding for 9 months or more you have enough time to set aside a reasonable amount of money each month without having to live on a Ramen and water diet, and can enjoy your wedding/honeymoon without worrying about the bills waiting for you when you get home :) For me, I know that paying for a wedding right now would completely wipe out my emergency fund (a financial no-no!), but with a tentative wedding date of spring or summer 2013, I'll have more than enough time to raise money for the wedding, maintain my emergency fund, and have room in my budget for a little bit of fun here and there ;)


More time to plan!
A long engagement period can also reduce the stress-and cost-of wedding planning. Give yourself time to picture your dream wedding, and research different venues and vendors that can make it happen. Popular ceremony sites may begin booking dates a year in advance, so the earlier you can make that decision, the better! Compare prices for caterers or photographers, and follow them on social media sites to see when they have specials and discount prices.   If you choose to save money by going the D.I.Y route for items such as invitations or wedding favors, you will have plenty of time to make them perfect!  

Engaged!

August 6, 2011

He took me here:

...and gave me this:

Now the work begins!  Expect upcoming posts about wedding budgeting, savings tips, and an update in my goals. 

Loaning Money Without Ruining a Relationship

In every relationship, there is a pivotal event that forever changes the course of that relationship.  One such event is "The First Request for a Loan".  Many friendships have ended, and families have torn apart over money, so it is no surprise that introducing the topic of money into any relationship can be a serious and stressful occasion.  But loaning money to a friend or family member doesn't have to result in a ruined relationship.  Follow these tips when considering giving a loan to a loved one, and you will be able to get through this process without hurting the relationship:

Guest Post: How I saved over $18K in 2011

Meet Randy, author of the lifestyle blog YoungNEducated.  Covering  everything from fitness and finances to relationships and careers, his blog is the perfect blend of intelligence, wit, and cultural commentary.   He's here to share how, in a matter of weeks, he found simple ways to save himself over $18,000 this year!

Debt = The Status Quo for Americans

With the presence of credit cards, ubiquitous advertising, and even the current U.S. debt ceiling "crisis", it is no surprise that debt seems to be part of the American way of life. The figure below is more eye-opening than shocking, and more than anything it serves as motivation for me to avoid the lifelong debt trap.

Source 

Extra income without work?

I ran across this article on Yahoo about Ways to Make Extra Income Without Much Work (link to article).

Now I can see why someone would rent out a portion of their home as a source of income.  I'm a huge HGTV fan and I love the show Income Property, which shows homeowners converting part of their homes into apartments and often earning enough rent money each month to cover their mortgage.  The idea of living rent/mortgage free is very appealing, and could make up for having to give up some my living space (that is, if I had a basement or 2nd floor, don't think I'm ready to go back to roommate living for a while lol).

source

But one thing the article mentions that I had never heard of is rent out your car.  From liability issues, to maintenance costs, and even the stress of wondering where my car is while I'm not using it, I just don't think the benefit could be worth the  risks.  The article mentions car owners earning about $200 a month and can set their own rates, but it seems like they wouldn't be able to set their rates too high (otherwise people would just rent  from a regular rental agency).  Maybe I should research into this a little more, but for now, I'm not sold on the idea.

Source 

Would you consider renting out your car? What are some other ways to make money without much work or effort? Let me know :)

Savings Sunday 6/19/11

Every Sunday, I will feature one easy, painless, money saving tip. 

Today's Tip: Save money on phone calls.  If you use a cell phone, avoid going over on your monthly minutes (and avoid overage costs) by signing up for free nights and/or weekends and make the bulk of your calls during those times.  Also, use free online services like Skype which provides free audio and video chats to your friends using a computer, smartphone, or tablet device.  You can also use Skype to make calls to a phone line and even make international calls for a small fee.  

Hope you find a way to incorporate today's tip into your routine this week!

Savings Sunday 6/12/11

Every Sunday, I will feature one easy, painless, money saving tip. 

Today's Tip: How do you spend your weekends? Is your idea of a good time trolling the mall and going out to restaurants? Try to replace activities that may tempt you to spend with hobbies that are free or cost very little.  Need ideas? I've got you covered. 

Hope you find a way to incorporate today's tip into your routine this week!

2nd Update: Short Term Goals

A few months ago, I came up with a few goals to keep my finances and life on track.  Here's a quick update on my progress:


Financial

Create a $1000 emergency fund by September 2011.  
2/11: 75% of the way there! Woo Hoo!
6/11: Savings account balance: $3175.48   Woo Hoo!!!!!!!!!!!!  I'm going to wait until September to officially set a new savings goal, but with automatic savings I should be at around $3500 even by then :)
*I almost forgot about my bank that I mentioned in the "Making Savings Fun" post,  we've raised about $54 in change lol  

Savings Sunday 6/5/11

Every Sunday, I will feature one easy, painless, money saving tip. 

Today's Tip: Don't pay extra just for convenience.  A container of sliced apples usually cost more than a bag of whole apples (and usually come in smaller packages).  Individually packaged meats (example here) cost more than a large pack that you can separate yourself. Sure these products may help with portion control, but why pay extra for something you can quickly and easily do yourself with very little effort? Next time you're out shopping and come across an item that is marketed as a "time-saver" or "convenience", be sure to compare prices with the standard version of the product and decide if the added convenience is worth the price difference.   

Hope you find a way to incorporate today's tip into your routine this week!

Savings Sunday 5/29/11

Every Sunday, I will feature one easy, painless, money saving tip. 

Today's Tip:  Try cooking most of your meals at home.  Home made meals are usually cheaper than at a restaurant or pre-packaged meal, you know exactly what you're eating (which helps if you are trying to watch calories), and you can make as little or as much as you like.  If you're short on meal ideas or short on time, there a number of cookbooks out there just for you.  Check out Best Ever Three & Four Ingredient Cookbook and Rachael Ray 365: No Repeats--A Year of Deliciously Different Dinners (A 30-Minute Meal Cookbook).

Hope you find a way to incorporate today's tip into your routine this week

Journey to Fitness: Finances and Beyond

For the past month, I have been working on creating a more healthy lifestyle.  Keeping track of my budget has become pretty routine for me, but working on fitness, nutrition, and finances at the same time is tough!   Whenever I'm faced with a challenge or feel a bit overwhelmed, I try to simplify things as much as possible by making connections between seemingly unrelated things. In doing that I find that I get a better understanding of each individual task, and can come up with ways to tackle them both at the same time.  So in an effort to help me (and hopefully you all as well!), I've brainstormed some ways that the journey to health and fitness and the journey to financial fitness are alike.  

Both require you to manage 2 main elements.  Whether it is income vs expenses or calorie intake vs calories burned, you have to be aware of what goes in and what goes out.

Savings Sunday 5/22/11

Every Sunday, I will feature one easy, painless, money saving tip. 

Today's Tip: Always have a shopping list.  If you're like me (well the old me lol), you find yourself in the grocery store starting at one end and going up and down every aisle making sure you don't forget anything...and along the way discovering more items that you need/want/crave :)  Have a plan and stick to it to keep your shopping budget under control.

Hope you find a way to incorporate today's tip into your routine this week

Financial Advice from a Fortune Cookie

I cracked open a leftover fortune cookie today and was surprised to see this little nugget of financial wisdom:

Glad to see I'm on the right track! lol

Savings Sunday 5/15/11

Every Sunday, I will feature one easy, painless, money saving tip. 

Today's Tip: Buy in bulk to save on items you use frequently.  Are you buying a candybar everyday from the vending machine at work?   Buy a box of them at your local discount store and save a few bucks.  Do you find yourself buying magazines every month at $4 a pop? Purchase a subscription and save up to 50% off the cover price, depending on the magazine.   

Hope you find a way to incorporate today's tip into your routine this week!

Savings Sunday 5/8/11

Every Sunday, I will feature one easy, painless, money saving tip. 

Today's Tip: Check online for coupons and deals before making a purchase.  With websites like Deal Taker and Coupon Mom, you can save money on everything from restaurant meals and  groceries to clothes and electronics.  

Hope you find a way to incorporate today's tip into your routine this week!

Savings Sunday 4/24/11

Every Sunday, I will feature one easy, painless, money saving tip. 

Today's Tip: Be on the lookout for discounts on your staple items.  Stocking up on these items when you catch them on sale may seem like you are spending more money at that time, but in the long run you will save on items that you purchase frequently.  (Note: this doesn't work well with perishable items)

Hope you find a way to incorporate today's tip into your routine this week!

Savings Sunday 4/17/11

Every Sunday, I will feature one easy, painless, money saving tip. 

Today's Tip:  Just say no.  Have any daily habits or indulgences (ex. morning Starbucks run, 2pm candy pick-me-up)? Try to go at least one day a week without making this purchase. Eventually move up to 2 days a week without it.  Even this small change can add up to savings over the course of a month or year!

Hope you find a way to incorporate today's tip into your routine this week!

Is Extreme Couponing too extreme?

Last night I was introduced to the wonder that is Extreme Couponing.  I sat on the edge of my seat (and repeatedly yelled "Get out of here!!!") as I watched a woman spend about $5 on over $500 of grocery on TLC's Extreme Couponing.  I stared in disbelief as someone approached the register with 4 carts full of groceries and stacks of coupons which saved them upwards of 96% on their purchase.

I had to know...how did they do it?

Savings Sunday 4/10/11

Every Sunday, I will feature one easy, painless, money saving tip. 

Today's Tip:  Get a library card! In addition to books, many libraries also feature DVDs, free internet access, and access to audiobooks.  

Hope you find a way to incorporate today's tip into your routine this week!

Savings Sunday 4/3/11

Every Sunday, I will feature one easy, painless, money saving tip. 



Today's Tip:  When you're out, turn it out.  Leaving home? Make sure you turn off the lights, unplug electronics, and set your thermostat to the off position.  No need to waste electricity when you're not there to enjoy it :) 


Hope you find a way to incorporate today's tip into your routine this week!

Savings Sunday 5/1/11

Every Sunday, I will feature one easy, painless, money saving tip. 

Today's Tip: Make saving money a team effort!  Carpool to work, swap clothes and supplies with a neighbor, split a restaurant meal with a friend. Working together can be beneficial to both you and others!

Hope you find a way to incorporate today's tip into your routine this week!