Money Monday

NO!!!

No, we are not going out to dinner.

No, you do not need more Lego's.

No, you are not having whoppers when we leave the store.

No, you do not need that really cute pair of red peep toe heels with the bow. NO! :)

"...when we were newly married and had very little money. I was in the air force, and we had missed Christmas together. I was on assignment overseas. When I got home, I saw a beautiful dress in a store window and suggested to my wife that if she liked it, we would buy it. Mary went into the dressing room of the store. After a moment the salesclerk came out, brushed by me, and returned the dress to its place in the store window. As we left the store, I asked, “What happened?” She replied, “It was a beautiful dress, but we can’t afford it!” Those words went straight to my heart. I have learned that the three most loving words are “I love you,” and the four most caring words for those we love are “We can’t afford it.”"

Becoming Provident Providers Temporally and Spiritually May '09 Ensign
Elder Robert D. Hales Of the Quorum of the Twelve Apostles

Tasty Tuesday

School Lunches

I do not buy school lunches. At our school they are about $2.75 and with two kiddos eating 5 lunches a week that is about $27.50 a week. OUCH!! So I thought I would find some ways to spice up their lunch boxes this year.

Banana Sushi

The Kraft foods website also has a lunchbox sulutions spot. It even has a section on lunch box jokes!

I think this looks fun too.

Remember presentation is very important to some kids.

Mom's Lunchbox Cheat Sheet

( from the Kraft site!!)

Place a frozen juice box in your kids’ lunchbox. – it’ll keep the food chilled and will be thawed by lunchtime.

Go for variety. Make sandwiches using whole grain tortillas, bagels or pitas.

Pack antibacterial wet wipes so your kids can clean their hands before and after eating.

Add grated veggies to sandwiches and wraps for crunch – your kids won’t notice they’re eating something that’s good for them!

Use small resealable bags to pack dressings. Kids can open one corner and simply squeeze onto salad, then discard.

Get dipping! Pack salsa, hummus, yogurt or salad dressing for your little ones to dunk their sandwich, veggies or fruit into.

Make bite-sized and mini versions of regular foods like sandwiches. They work well for small appetites and are more likely to be eaten.

Add a quick note to say good luck on a test or “I love you” – it will brighten your child’s day.

Money Monday

Cash Only Please

Last week we spontaneously went "cash only". We withdrew the amount of money we had to spend and used cash all week. It was fun to pay with cash. Remember how you felt when you were a kid and you got to buy your own stuff? The joy of being "grown up". LOL!! It was fun. We stuck to it and even had money left over!!!!

We did not do the envelope system but we might try that next after we get used to this whole cash thing.

Money Monday

Dave Ramsey is a financial guru and very well regarded in the financial realm. Here are is baby step to becoming debt free and in control of your finances.

Baby Steps

1. $1,000 to start an Emergency Fund

2. Pay off all debt using the Debt Snowball

3. 3 to 6 months of expenses in savings

4. Invest 15% of household income into Roth IRAs and pre-tax retirement

5. College funding for children

6. Pay off home early

7. Build wealth and give! Invest in mutual funds and real estate

Here is his printable. Want to know more about Dave? Click here to go to his site. Still need help with a budget (I do!!)? Want a free budget guide? Go here.

Where are you and where do you want to go? Have you done or tried Dave's plan? Did it work for you? Do you think this might work for you?

Money Monday

Over the last month or so we have done a brief overview of the church's All Is Safely Gathered In pamphlet. As we have done so, I hope that some of you have implemented or improved your money management practices.

I finally worked up the courage to do a budget. Not just my bills this time. I budgeted for everything I thought I would need to. I also set my budget under what we really bring home. I wanted to be able to set some aside in savings.

I have yet to get the courage up to add up all the numbers and see how well (BAD) we did. Thursday is the big day for me to get that done. So I am a little afraid. LOL!! I am going to do it though. One day we will get it figured out. As long as I am actively working on it I will make progress.

As you work on your budget remember that they do evolve. Debt go away (hopefully) and other expenses rear their ugly heads. So we need to review and revamp often.

Thrifty Thursday

Just like the Restaurant

One of my families goals is to stop eating out as much. We would like to keep it down to twice a month, but we will probably bee weak and go out once a week. We will try though. So to accomplish my goal I set about to find the foods I love in a cheaper way. Making them at home. Initially this can cost a bit to get set up with the pantry items you will need to have on hand. In the long run though it is way cheaper. Plus can be a whole lot funner than waiting in line and having to possibly put up with bad service or cranky kids (your or theirs).

In may search I found a great little site that hosted some of my top favorites!

Restaurant Recipes

Below are a few of my to die fors right off the top!

KFC original recipe!!!
olive garden bread sticks recipe
Outback steakhouse potato soup recipe

Money Monday

Teaching our Family about Money

As we learn to manage our money better let us also teach our children those lessons.

LDS Living Magazine has a great article about how to teach your kids about money. Click here.

SmartPiggyBank is a site that helps your kids learn how to manage their money.

At my house my two older kids have divider banks. I t is basically a long box with three separate sections. First is tithing, then savings, and then FUN! We tithe 10% of our increase. Then we put 10% into savings. The rest is theirs to spend. They have learned to love the toy clearance isle. LOL!! Tyler has learned to save up for bigger Lego's and Elizabeth has learned it is sad to go broke over Whoppers. Kids will be kids.

Money Monday

Build a Reserve

We have been counseled to build our three-month food supply, get our water and then build a financial reserve. The church has not stated a specific amount. Most money gurus will advise anywhere from 3 to 6 months. Longer if you can. No matter what your end goal is it is better to take baby steps then kill your self trying to make huge leaps and bounds. Start with a week then a month and then start again.

You can start by setting up a separate savings account. My good friend Daphne writes our financial column for our wards Provident Living newsletter and this is what she said about savings accounts, " Saving money is a challenge, and what works for one may not work for another, but this is what has worked for us. We have several accounts set up in a high interest bearing account (ING). Typically it takes 2 business days for funds to transfer to your checking account, so you tend to think twice if you really need that thing you want to buy--as a side note, we also keep a savings account attached to our checking acct., in case we need to transfer some over quickly for emergencies. " She also suggest that you have your savings automatically withdrawn each month or paycheck what ever works for you. you can sometimes set this up through your employer if you have auto deposit or through your bank.

President Gordon B. Hinckley has taught: “Set your houses in order. If you have paid your debts, if you have a reserve, even though it be small, then should storms howl about your head, you will have shelter for your wives and children and peace in your hearts” ("To the Boys and to the Men," Ensign, Nov. 1998, 54).

Money Monday

Use A Budget

This weeks post is also based of the All Is Safely Gathered In: Family Finances pamphlet.

"Keep a record of your expenditures. Record and review monthly income and expenses. Determine how to reduce what you spend for nonessentials. "

This is the council we have been given. The LDS website also provides a budget worksheet to help you follow this council.

Need more ideas on how to create and use a budget? Here are some previous post. Here, here, and here.

“I have discovered that there is no way that you can ever earn more than you can spend. I am convinced that it is not the amount of money an individual earns that brings peace of mind as much as it is having control of his money. Money can be an obedient servant but a harsh taskmaster. Those who structure their standard of living to allow a little surplus, control their circumstances. Those who spend a little more than they earn are controlled by their circumstances. They are in bondage. President Heber J. Grant once said: ‘If there is any one thing that will bring peace and contentment into the human heart, and into the family, it is to live within our means. And if there is any one thing that is grinding and discouraging and disheartening, it is to have debts and obligations that one cannot meet’ (Gospel Standards, sel. G. Homer Durham [1941], 111).

“The key to spending less than we earn is simple—it is called discipline. Whether early in life or late, we must all eventually learn to discipline ourselves, our appetites, and our economic desires. How blessed is he who learns to spend less than he earns and puts something away for a rainy day” (see Conference Report, Oct. 1979, 119; or Ensign, Nov. 1979, 81).

Money Monday

Betterbudgeting.com

This is great site that has a lot of advice and ideas to offer. From budget calculators to frugal decorating tips. They cover grocery shopping, debt reduction, and so much more. There are free down-loadable budget sheets and so much more. You can even sign up for their Ezine (email magazine). Go check it out.

Money Monday

Getting Those Bills Down

Let's take a look at those monthly bills. You know those ones we can't do anything about? Housing, Water, Electric/gas, Cable/Dish, Phone/Cell phone, Internet, Garbage, Car/house insurance, and those pesky evil Credit cards.

I am not going to go into all of those in this post (keep your eyes out for them though). I thought we could look at our water and electric bills today.

In my area our water provider is Firgrove Mutual Water. I pay around $30 to $40 every two months depending on the season (summer is higher). Not a biggy I know, but hey a penny saved is a penny earned! Here is a list of money saving tips. Also get your free water conservation kit. For budgeting I make a half payment ($15-$20) each month. It is automatically set up through my bank.

My electrical company is Puget Sound Energy. I pay around $141 a month for a 1300 sq. ft. home. I know what my payment will be each month because I am on a set payment plan. This plan gets reviewed every June. It is a great way to budget. No more dreading the winter months high bills. Every month is the same weather it is really $35 or $210. Here are 6 ways to slash your electric bill. Here are a few I have learned:

• unplug it. Phone chargers, microwaves, toaster ovens, and electronics. If they are not being used unplug them.
• turn the lights off. Open the curtains and let the sunshine in.
• turn it off. The TV and the computer. They do not need to be on if you are not using them.

Money Monday

Receipts and Budget Review

Here again is the original post

Okay so I am going to chicken out and not tell you my final totals for March. Mostly because I have sat down to add up the last week yet, but.... I do know what I want my target budgets to be so here we go.

Grocery : $100 a week ( wasn't too far off this for March)

Household/toiletries: $100 ( I was under but we are no low on diapers so...)

Dinner out /entertainment: $100 ( I am not telling how bad we did :o )

Clothing: $ 25 (really I could just put this in a savings account for when we need it)

James: $40 (he usually can pull that off)

Gas: $100 (That's more than we do but extra can go into savings or towards debts)

WOW!! That is $765 I am going to challenge my self to stay within if not under those numbers this month.

I will be checking in!

How did you do? Anyone want to share what they learned? Come on I need all the help I can get!

Money Monday

Receipt Check in #2

Okay so if you are new to this blog or just missed the last two Mondays here are links to the previous post in this series. Starting out & Check in #1.

So here is the update for this week:

Grocery: $183.62 + $138.47=$322.09 I hit some good stock ups for our food storage.

Household: $59.12+$20.53=$79.65 James needed a haircut and I needed some silly house stuff.

Dinner/Fun: $94.54+$58.28=$152.82 I told you this is our BAD area. :(

That is all we added this past week. We spent a total of $217.28. I am glad a majority of it was on groceries. The great thing is I saved an average of 50-60% on my groceries this week!!!

Money Monday

Receipt Check-in

Our first Money Monday of March I talked about saving our receipts to truck our spending. So I am here to post my update.

Clothing: $19.50

Household/toiletries: $59.12

Dinner out: $94.54

Hubbies work (meals and needs): $34.91

Grocery: $183.62

Gas: $32.50

Birthday: $20.84

Clothing. James did need some new jammer pants and Ty needed some jeans.

Household includes light bulbs, personal care, diapers, printer ink, and all that kind of stuff.

Dinner out is our bad one always. However we only eat out on the weekends and 30 of this was a dinner out for Elizabeth's birthday. We try to eat out cheaply (I see Thursdays post already!!).

Hubbies work. James is a truck driver. So he travels between here and Idaho. He eats lunch on the road maybe two nights a week. Then there are snacks, gloves and other little items he may need. About $10 of his spending was spent on his Pilot card. It is a rewards card. So really he only spent $25.32.

Gas. We have only filled up our car this month. the Tahoe needs it do that number will go up. :)

Grocery. Thanks to killer coupons and deals I have averaged about $90 a week and most of that was stocking up.

Birthday. Elizabeth turned 6 this month so a party was needed. Party favors were pretty cheep but SO cute. Her gift (ballet tutu and leotard, shoes came out last month) was $14.14.

So there it is. It has been interesting to see where the money goes. I did about three years ago and i remember our dinner out came to almost $400 and our grocery was like $150. Pretty sad!!! We have learned!!

Money Monday

Envelope System

I am sending you to another blog for this post.

http://learningthefrugallife.blogspot.com/2009/03/envelope-system.html

This a great site for those who want to live a little more frugally. Sara is sharing her journey with the whole wide Internet and doing a great job of it! Thank you Sara!!

Money Monday

Save that receipt!!!

In fact lets save all our receipts this month. Let's see what money we are spending and where.

So first get a shoebox, envelope, cute basket, or a zip lock baggie. Next go about spending as usual. Put your receipts in the designated container. At the end of the month lets add them up. We will need to have categories for this. Mine will include: groceries, eating out, gifts, clothing, hubbies lunches, household needs (cleaning supplies, TP, laundry soap, batteries), & food storage.

At the end of the month you will be able to see where that money is going. You may be pleasantly surprised. I have a feeling I will feel like I am watching a horror movie, but at least I will know where the money is and be able to set some reasonable goals for the next month.

Thanks Daphne for making this our theme for money this month!!! Great idea!

I will be checking in on this subject through out the month. If you have done this and have any tips or ideas please feel free top comment. If you have questions ask away!

Money Monday

Budgets

This was my goal this week to make a budget to begin using in March. So last night I sat down and did it. I realised we had more money to use than we thought and now I have found a home for it. Sadly it will go to reducing our debt (evil debt grrr!). So there you go. If you do not have a budget get one. If you have one revise it, unless you were smarter than me and did this in January. Either way live by it!!

Here is a great budget guide to get you started.

bills.com has a free download and some great information on understanding how budgets can work for you.

And of course The bargain Jargon has these treats of budgeting wisdom to offer. Do you have a budget? & More on budgets !

The Bargin Jargin

If you haven't checked out this blog yet you SO need to. Yes I have a link on the side bar. Yes I tell just about everyone I talk to about this blog. But I feel it needs it's own special high light.

I personally check this blog daily. I am so afraid of missing a great deal. Crazy I know! If you think it just groceries...look again. Christy knows how to get cloths, toys, date nights, and so much more for oh so very little! She has in store deals, online deals, and more. She generally features a food storage item of the week. Christy also breaks it down into a easy and accessible format that even I can use. LOL!! I need things simple. LOL!!!


She even has two AWESOME posts about budgeting! I so needed those! Here you go!

If you have used this blog to get an amazing deal, please share!

Budgets

For those of you interested in budgets, Christy's blog has a GREAT post about them today.click herePlease feel free to add comments. If you have an ideas or question please add it. We can't answer question if we don't know what they are! :) If you have input please add it we are all students here.
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