Category: Saving Money (Page 1 of 2)

A Simple, Month-Ahead Elimination Budget

A Simple, Month-Ahead Elimination Budget

Mr. T and I were married in the midst of college. We were happiness-rich, but cash poor. We were both lucky to not be in debt because we were both given some assistance from our parents for college. After we were married, we combined our meager bank accounts and started an elimination budget.

We both worked hourly as custodians for our college football team cleaning the locker rooms and the coaches’ offices between 9:30PM and 1AM. Perks: football games were way more engaging because we knew the players intimately though we never met them (“the player that’s got that cute letter from a 6-year-old fan on his locker board has the ball!”). We also got random things out of the trash, like a barely-worn pair of shoes and a dozen tickets to the nearby waterpark. Also, we got to work together and we got a slight pay increase for working nights. Downsides: It was very late and we were tired. We got weekly wheatgrass shots at Jamba Juice to get us through.

The Simple Elimination Budget

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How "Make More Money" is Like a Video Game

How “Make More Money” is Like a Video Game

Quick call to action: I’m running an awesome research project and need your help. I need as many responses as possible. Go take the survey. It won’t take long. Thanks so much! Do it for science!

Maybe you’re like me. You read all these amazing posts about how the solution to your problem is simple. Make more money. And then you think: “Yeah, wouldn’t that be great?!” The posts say: “Don’t worry. It’s easy. Start a blog. Make an extra $90,000/year” Or “just start an e-commerce business and watch the sales replace your day job income in no time!” Now, as a consistent blogger of nearly 2 years that has made a grand total of less than $400 on this blog (want to increase that? Sign up for Personal Capital with my affiliate link. The service is free. And awesome. I promise), and as someone that runs an Etsy shop with 2 total sales (I won’t pitch that to you as well. You’re welcome), let me tell you that I finally figured it out!

There are levels to the game Make More Money

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The Impact of Good Business Communication

The Impact of Good Business Communication

A business can do everything right, but if they have poor business communication, they’ll never succeed. You are your business. You need to make sure you have the ability to communicate your goals and priorities to yourself, your partner and to others that that are involved in your bottom line.

Business Communication Leads to Trust

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Santa Baby for Savers

Santa Baby for Savers

I can’t tell you how excited I am to share this with you today! As our Christmas present to you, Mr. T and I have written and recorded a brand new Christmas Carol for Personal Finance Geeks and Money-Savers alike! Enjoy!

NOTE: The Google ads in the video were not added by us, but by the owners of the copyright of the original song. 

Coloring Your Finances

Coloring Your Finances

Today we’re going to have a little drawing lesson. Don’t worry, even my 2-year-old can do this! For the purposes of this lesson, color=money!

*Special thanks to Mr. T for drawing our awesome moose-piggy bank for this demonstration!*

Coloring Your Spending

When you spend money, stay within the lines

When you spend money, you should “stay within the lines.” Only spend money that is actually in your moose bank. Think about this picture.

If you wanted to get the money out, you would have to break the moose bank (awwww… but he’s so cute!). Think of this cute moose every time you go to spend money. Does that mean you should never spend money? NO! But before you spend money from your cute moose bank, you need to get into the habit of pausing and thinking about it first.

Is this purchase worth breaking this cute little moose face? Ask yourself does this spending align with my goals? If it does, break that little moose face and go for it, but don’t spend more than is in there… looking at the picture, that isn’t possible, right? There’s no other money anywhere. Remember this. It’s really that simple. If the money isn’t in the moose, you can’t spend it!

Coloring Your Savings

When you save money, spread the color all over the place

Savings breaks all conventional rules. There’s no need to “stay in the lines.” The most important thing is to save. You want lots of color!

Imagine just dumping the color all over. Will some of it end up in your moose bank? Yes! Will some of it end up in emergency funds, retirement funds, brokerage funds, etc. Yes! We can argue about the nitty gritty details about which moose bank needs which colors, but that’s not important. Pour that color!

Until you increase the amount of color on your savings picture, you don’t need to worry about the details. If you’re pouring color, you’re moving in the right direction.

Mr. Moose Bank Says: “Stay in the lines for your spending, go crazy on your savings!”

Perfect Gets in the Way of Good: Finances Edition

Perfect Gets in the Way of Good: Finances Edition

I’m sure you’re familiar with the phrase “Perfect is the Enemy of Good.” I’m experiencing that in my financial situation here at the end of the year. Last week, I calculated our projected taxes for 2016 (PRO-TIP: Do this earlier than November!) and realized we’re set to owe nearly $7,500! Yikes! (It doesn’t help that I am self-employed and our PFD and Energy Program Rebate are both taxable.)

*Rewind* *Rewind*

(blatant Hamilton reference, yes)

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It's Not Your Fault You Want to Spend Money

It’s Not Your Fault You Want to Spend Money

FLASHBACK: Thousands of years ago. You live in a cave, kill your own food, carve your own pictures into cave walls, and communicate very effectively through a series of grunts (clearly, I have no actual sense of what this period of time was like).

We know our bodies evolve based on our circumstances. THIS IS STILL TRUE. Example: Wisdom teeth. Remember back in the cave when we had to tear flesh apart with our teeth. No forks. No knives. Teeth. “Oh” you say, “THAT’S why we have wisdom teeth!” Now, wisdom teeth are a hassle. They crowd our smaller jawlines, mess up the rest of teeth, can get impacted, and cost money to get removed. Well, guess what? Humanity has gotten the memo! I, personally, only had 2 wisdom teeth, and my husband only has 1 that’s never grown in (I know. We’re advanced specimens). Some predict wisdom teeth will disappear altogether within just a few generations!

What does this have to do with spending money?

Oh yeah… I was talking about money.

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Ways to so no to spending money

Ways to Say NO to Spending Money (and still be cool)

How to Avoid Spending Money:

What is the number one reason you can’t save money? You spend it!

It’s hard not to! Everyone wants a piece of it.

“We’re just going out to eat!”

“It only costs $15!”

“You don’t want to miss out!”

You want to say: “NO YOU DUMMY, I’M SAVING MY MONEY!” But you don’t. Because you’re nice. But don’t worry. I’ve got you covered. Today, I’m creating a handy-dandy list you can print off and keep in your wallet. Reference this the next time you get a proposal to spend that hard-earned cash!

There are three ways to successfully extricate yourself from a money-spending predicament: excuses, possibilities, and alternatives.

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People who became millionaires faster

Becoming a Millionaire FAST (and people that have done it!)

On Monday, we went over how easy it is to become a millionaire. Today, we’re going to look at a few people that have done it and have done it quickly!

Saving a Million Dollars FAST

1500 Days:

We’ll start with Mr. 1500 Days (he’s one of my favorites!). Now he started 2013 with over $585,000. He managed to hit $1,000,000 for the first time less than two years later! Note that Mr. 1500 days uses Personal Capital as well!

double comma

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frugality sucks frugal

Being Frugal is Overrated

When I started this blog, I thought “yes! We aren’t big spenders! We can jump in and discuss how frugal we really are.” Ironically, after over a year of blogging, I’ve realized that being frugal isn’t the answer. 

Frugality is all about cutting costs, but sometimes that’s not the best financial action plan. We still maintain some level of frugality, but it has shifted from counting costs to living mindfully.

FRUGALITY FAILS:

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