Friday Saving Tidbits

I was watching Oprah about a week or so ago, and guests were sharing ways that they saved money. One guest in particular had a very easy tip that's easy to implement. Unplug. When she left her house, she started unplugged devices, and in the first month of doing so her energy bill went from $268, to $91!!!! That's a lot of money for a fairly easy task! Just unplug it! Oh, and when the guest really started unplugged everything, her bill went all the way down to...brace yourself...$60!!! Also, interestingly enough, as I exited the Metro this week, I noticed an energy campaign on the billboards. One of the billboards has a woman saying, "I'll unplug more stuff." So...there you have it, unplug it to save. Yes, it's annoying at first, but I'd love to have that extra money every month and be green at the same time!

And one more tip for all of the shoppers (like me) out there. I found this great website called Sale Habit that features only sale items from various internet sites. The best part is that everythings on sale, so it's pratically guilt free! There are thousands of items on the website, so I recommend searching for what you want. If you know exactly what you're looking for, this site is an excellent resource to see where you can find it! Not really "Money Saving" I suppose, but if you already planning on spending the money, why not get it on sale?! (wink, wink). Happy Shopping.

Is the Library Really a Thing of the Past?

While watching Sex And The City: The Movie this weekend, I realized that Mr. Big teased Carrie for having a library book to which she replied that she liked the way they smelled. And my mind quickly recalled the old library book that was in my room on my dresser. I'm not sure how that thing smelled, but from the looks of it, I wasn't going to find out either.

I've been going to the library since I was very young. And while I abandoned it during college due to schoolwork, I returned after graduation. For a while, I did buy books, but what happens if you don't really like it or don't plan on rereading it? Then you've wasted your money most likely. I mean you could post them on Amazon or sell them for half price on Ebay or one of those book stores, but most likely, you'll do absolutely nothing with it. It'll sit and collect dust. Which is why I am a strong advocate for the public library! Yes...some of the books are dirty looking like someone ate Cheetos while reading, but majority are clean, and it's FREE! F-R-E-E! Yep! Courtesy of hmm.....taxes I'd propose. And you can have this service too for just a mere flash of your license and filling out an application. They even have audio books and you can go online and reserve books without driving out to the library, they'll email or call you when they're ready to be picked up! Fantastic library!!! And best of all....you save that $15-20 you'd pay for a book at Borders or Barnes and Noble. Just a thought...

Budget Challenge Update

So I managed to live off of $60 worth of groceries for two weeks! I have no clue how I did it, but I did it. I've also started to eat healthier because I try to buy foods that will fill me up and aren't pre-processed and full of junk.

I did my budget for this paycheck...yes, I have to roll paycheck to paycheck with my budget, even a month is too difficult to plan for myself at this stage. After saving and shuffling money to various categories...on paper, I have $150 leftover. Good old Dave would say "Find a home for that $150, don't leave it out there in space." So I'm going to put it on my credit card. Slowly but surely...that thang is going down...die cc, DIE! I also rounded each expense up slightly so I probably will have more left over than I currently think but we have to start with baby steps.

All that to say, the challenge is still on! And like everyone else in this heartbreaking economy, I'm trying to pay down my debt as quickly as possible. I also managed to snag a few key fall items to update my wardrobe! Yes, I can do this budget thing...I really can.

Ways to Raise Your Credit Score

Recently, I received a letter that one of my cards was to be closed due to inactivity. I merely brushed this aside and figured, "I'll call them and request that it stay open and it'll be fine." Much to my dismay, when I called, the most likely minimum wage worker informed me that no matter what I did, the account could not be kept open due to the agency trying to close all dormant accounts. I was ticked, needless to say. Mostly because it was $8,000 worth of credit, and I felt that it would lower my credit score because it increases my debt/available credit ratio. I'm not so sure if it's calculated per card, or for all available credit. I'm thinking the latter, which is why I was so ticked off! GRRRR, it makes me angry to think about it!

Anyway, I ran across this tidbit on CNN Money and thought I'd list it here as well in order to keep that from happening to anyone else or me again for that matter. I'm also going to review my credit report and make sure I charge at least one small thing on my cards in order to keep them active.

• 35% Your payment history Pay your bills on time. Automating payments online can help.
• 30% How much you owe Keep balances on credit cards and other revolving accounts below
• 50% of your credit limit (lower is better).
• 15% Length of your credit history Rather than let old cards go dormant, charge a latte a month (then pay it off). No activity lowers your score.
• 10% Your new credit Don't open unnecessary new accounts. And if you're rate shopping for a mortgage or an auto loan, do it within two weeks; multiple requests could ding your score.
• 10% Your mix of loans You can't do much to change this (except get a credit card if you don't have one).

Bonus Request a free copy from each of the three major credit-reporting agencies at annualcreditreport.com. Then tell them about any mistakes you find that are not in your favor. --George Mannes

The Budget Challenge

Per my previous post...oh, about 10 minutes ago. I'm really going to commit to doing a budget for 3 months, since Mr. Ramsey says that's how long it usually takes people to get the hang of it. After which point, I'll review my money and see if I was able to keep a better hold of it. This should be interesting, especially since I get paid 3 times in October, which means if I do this right, I could come out way ahead. I am going to commit to keeping track of what I spend and writing down what I plan to spend and following through with this. So in the words of the older gentleman on the Cosby show, "CHALLLLLLLLLLUUUUUUUUUUNNNGGEEEEE!!"

Tune in next payday (October 17th) for updates.

Budget Smudge-It

MAN! Budgeting is super difficult! I know this is the part where I'm supposed to say that I've got it all figured out and it's a whiz, err...but I can't say that friends. It's tough! And I feel as though I seriously have been trying to keep an eye on what I spend.

A good friend who also listens to Dave Ramsey told me to try the envelope system in order to track my spending in categories such as gas, groceries, and the blow category. This also proves to be a difficult task, as I hate carrying cash. I'm always afraid someone is going to knock me upside the head and take everything I've got. I think I get that from my mother, once my alma mater played in the Sugar Bowl in New Orleans and my mom had a brand new purse (that she discovered didn't have a money compartment, her words, not mine) so she proceeds to walk down Bourbon Street with her purse clutched so tightly under her arm that she ended up pinching a nerve in her shoulder/neck area and had to go to the doctor for medicine once we got home! So...needless to say, I earned my angst over cash honestly.

Anyway...back to the matter at hand, budgeting. It's so difficult...I know I'm whining, but it's my blog, so I can do that. I can play my "Princess Power" as boyfriend calls it. The one thing I have managed to notice is that when I automatically put money away for saving, it's done. And I don't go back and remove it. Period. So, my retirement (prior to this economic meltdown) is well on it's way to prosperity. As well as my high yield savings account. Those babies are in tact! And I suppose, that's truly what matters the most. All of my bills are paid, and on time. I just have to get this credit card outta here (for, hmm...the 3rd time in my life). So I suppose I'm in a great place, just not totally where I'd like to be. But I guess that's what goals are for.

The bottom line is even if I don't have money to shop every month or spend money on trivial things, I always save for retirement and just in general. Because as Mr. Bach says, it's automatic, and that makes it easy. Now if I could only lock myself into this budget thing...I know I can get the hang of it. Maybe I'll set a goal that by the end of the year (approx. 3 months), I'll be budgeting on a monthly basis and meaning it. Yes, that sounds reasonable...enter the "Budget Challenge." See next post...

Some Ways I Save

Now I'll be the first to admit that I'm not the best saver there is, but I do tend to have a few money saving habits that are ingrained in my being. So with all of this economic fallout going on around us, I figured I'd post something positive...to cheer myself up mainly, but that's beside the point.

• I participate in a commuter benefits program that takes money out of my check pre-tax for my metro trips. If you ride the metro everyday to work, which I do, this saves you about $300-400 per year. And that's just for my fare.
• I automatically have my company deposit money into a separate high interest savings account every check. I don't see it, I don't touch it...simple as that.
• Instead of buying coffee at work everyday, I have a thermos that I fill up at home before I leave, and I drink it once I get to work. That saves me about $500 a year.
• I contribute to my TSP (my equivalent of a 401K) with pre-tax dollars, so that lowers my net income, hence less taxes.
• I try to make a list (at least mentally) of what I plan to eat for the entire week before going to the grocery store, thus eliminating or lowering impulse purchases.
• I stretch my eyebrows between waxings by touching them up with a razor and using eyebrow gel so I don't have to get them done as frequently. I look a little rough, but not too bad. And if I have something to do, I get them done. Otherwise, I stretch time between appointments.
• I paint my own toenails, unless I have something important...I can paint them just fine. No thanks to paying Mr. Salon $10-$12 to paint them. I can bend down and do it just fine myself!
• I shop for shoes on Amazon (they seriously rock) and they have free shipping! Plus a lot of time they run specials and you can get 20% off on top of the sale price. I'm not kidding, Amazon seriously rocks.
• I only buy things when I have a coupon or offer...and then it's something that I've been watching for a while. It takes some self discipline, but it's usually worth it. I don't always do this, because if I love it, I get it most of the time. But how often do you geniunely love something? That's what I thought.
• I decide what's important to me and only spend money on it...whatever it is. Meaning going out to eat may not be as important to me as having a nice pair of flat knee boots, so I'll slash my dining out budget in order to accomplish. Eating out is one of those things I can live without, I'd rather have clothes that I can wear again and again. And as my dear mother says "Why should I go out and pay money for food that's going to be flushed down the toilet the next day? No thank you! I'd rather spend my money on things that will last." So I guess I've inherited that mentality.

That's all I've got for now...but when I think of more, I'll add them.

What are some ways you save money?