With the year’s biggest shopping season now coming into clear view, it’s time to gather our wits, sharpen our resolve, and determine to know everything we possibly can about how to save money. Today I want to show you an online shopping hack that will help stretch your holiday dollars until they scream!
I used to love a good shopping mall. But those days are long gone and I don’t miss them one bit since I’ve discovered the joys and convenience of online shopping. In fact, I’ll do just about anything to avoid having to go inside a mall. Or even a grocery store.
I’m going to walk you through the basic steps of an incredibly easy way to save money shopping online, using an actual purchase I made as an example.
https://www.everydaycheapskate.com/wp-content/uploads/14386525_s.jpg565848Mary Hunthttps://www.everydaycheapskate.com/wp-content/uploads/EC-Logo-by-Mary-Hunt-Tagline-Trimmed-833x159.pngMary Hunt2019-10-20 00:09:442019-10-22 08:41:45An Incredibly Easy Way to Save Money Shopping Online
When you give yourself an allowance, it’s more than just cash—you give yourself the freedom to spend without feeling guilty. Early on in my long journey back to financial health, my husband and I agreed that I would have an allowance—my own cash, a regular expense listed in our fledgling household budget. That changed everything for me.
It used to be that when I felt broke, I’d turn to my bevy of credit cards to chase away the feeling. As long as I could spend money, it felt like I had money. My credit cards were my antidepressants (and my eventual undoing).
From time to time, this kind of question pops up in my inbox: How can I get started investing in stocks and mutual funds that are risk-free and have guaranteed high rates of return?
Of course that makes me laugh hysterically, not only because there is no such thing as a risk-free investment let alone one with a guaranteed high rate of return, but more because someone thinks I am an investment advisor. I am simply not qualified nor licensed to advise anyone on traditional Wall Street, stock market type of investing. But that’s not to say I don’t have some advice for them.
My investment advice is unconventional, perhaps, but it makes so much sense, I think you’re going to be amazed. When looking at investments, many people disregard one of the best and easiest places to invest their money—their own debt.
First, let’s agree that the reason anyone wants to invest is to increase their net worth by making their money grow. There are two ways to do that. 1) You can increase your assets or 2) decrease your liabilities.
For all the convenience and access to information that the Internet offers, the ability to make money online, honestly and legitimately just might be one of the most useful. At a minimum, you need an Internet connection and computer. Or for some jobs, just a smartphone will do.
The challenge is to wade through all the sales pitches for free get-rich webinars to find authentic ways to make money. The opportunities for online jobs are there. But it’s not like winning the lottery. Most require hard work and dedication before you get paid for your time. But isn’t that true of just about any kind of job? None of what follows will make you an overnight millionaire, but each represents a legitimate way to earn extra money online.
Money a little tight these days? You might assume it’s due to rising costs, tightening credit and the fact you haven’t had a raise in, like, forever. But truthfully, if your basic needs are being met, problems you’re having are more likely a result of bad money habits you’ve picked up—behaviors you’ve repeated so often they’ve become almost automatic.
Don’t despair. In the same way you picked them up, you can replace bad habits with good ones: Stop the old behavior, and consciously repeat the new one so often that it becomes an almost automatic response.
Living without a spending plan
Spending money without a plan has to be the mother of all bad money habits. It’s like driving blindfolded. You don’t know where you are and can’t see where you’re going, so you don’t know when to stop. Pre-spending your paycheck on paper (also known as a budget) is the way to remove the blindfold so you can see what’s going on.
Depending on plastic—and I’m talking about both debit and credit cards—to cover your day-to-day spending might be very convenient, but it creates a bad habit. You stop noticing how much you’re spending, and that opens the door to overspending. Break this habit by figuring out how much cash you’ll need for the day, and put that much in your wallet. Leave your plastic at home, or put it in a less convenient place in your handbag or wallet.
Rolling a credit card balance
Credit card issuers know that once they can get you to cross the threshold where you owe more on your credit card than you can pay in a single month, they’ve got you where they want you—paying them interest month after month.
If you cannot pay the entire balance in a single month, you’re living way beyond your means. To break this bad habit, make it impossible to use it anymore until that balance is paid in full. Don’t close the account, but put that plastic far from you. Hand it off to a trusted friend or freeze it in a block of ice! Anything to help you break this bad money habit by replacing it with a good one. Then start paying down the balance as rapidly as possible.
It might make sense to pay your bills first and then see how much you have left to put in savings, but that’s a really dumb idea. It will lead to a very bad result also known as no savings, because you will keep doing this same dumb thing month after month, year after year.
To break this habit, pay yourself first before you pay any of your bills. In fact, treat yourself as your most important creditor. Make up payment coupons like you have for your mortgage or car payment. Or set up an auto bill payment to “Myself.” Now move “Myself” to the front of the line so that the very first bill you pay each month is to You!
https://www.everydaycheapskate.com/wp-content/uploads/39120315_s.jpg565847Mary Hunthttps://www.everydaycheapskate.com/wp-content/uploads/EC-Logo-by-Mary-Hunt-Tagline-Trimmed-833x159.pngMary Hunt2019-07-30 06:25:462019-10-09 09:03:12How to Break Bad Money Habits
Let’s not beat around the bush. Eating out is eating up your future. It’s gobbling down your present and keeping you stuck in the past. That heavy debt you’re hauling around didn’t happen while you were asleep. Chances are pretty good that you’re eating your way into debt.
Breaking the eating out habit isn’t easy to do, but it can be done. What it takes is motivation, determination, and perseverance.
Let this exercise act as a quick-start motivator: For one week, track your household spending on every form of eating out including coffee, donuts, restaurants, cafes, diners, street vendors, food trucks, fast food … all of it.
Once you have that number, multiply by 52. But wait, there’s more. Estimate the cost of all of the food that you throw in the garbage every week because you buy it, then eat out instead. You may be looking at the reason you aren’t saving for retirement, building an emergency fund, or stuck in debt.
I don’t want to get too graphic here describing a negative motivation that might persuade you to eat at home more often, so let me allow the CDC to do that: The Centers for Disease Control and Prevention reported that one in five restaurant workers admit coming to work while sick with diarrhea and vomiting—two main symptoms of the stubborn norovirus, which understandably is now running rampant.
The problem lies with these sick workers who take a bathroom break, do not wash their hands with soap then return to prepare and serve our food. Not only is it expensive to eat out, but your chances of getting sick are also increasing.
https://www.everydaycheapskate.com/wp-content/uploads/25573137_s.jpg564849Mary Hunthttps://www.everydaycheapskate.com/wp-content/uploads/EC-Logo-by-Mary-Hunt-Tagline-Trimmed-833x159.pngMary Hunt2019-07-18 00:01:042019-10-10 11:31:47How to Break the Habit That’s Eating Up Your Future
A number of years ago I met Kathryn and Galen. They’d won a contest sponsored by Woman’s Day magazine. The prize? A money makeover and financial coaching with … me! From our first meeting, we became fast friends.
Not only were they drowning in debt, Galen was dealing with a protracted season of unemployment. Their financial situation was grim.
Kathryn and Galen were totally committed to working with me as I created a plan that, if followed diligently, would get them out of debt and on their way to financial freedom.
The problem was that even with their new scaled-back lifestyle, my students were $1,000 short every month—an amount they would have to find somewhere, some how, if this plan were to work.
Never have I seen a couple so committed to getting out of debt. They didn’t complain or seek pity. They didn’t whine or make excuses. Instead, they adopted a “scorched earth” attitude as they became committed to doing anything and everything possible to reach their goal.
Here’s Kathryn’s list of the 25 things they did to cut expenses and find find the $1,000 they needed every month in order to stay on track with getting out of debt:
https://www.everydaycheapskate.com/wp-content/uploads/21512684_s-1.jpg565848Mary Hunthttps://www.everydaycheapskate.com/wp-content/uploads/EC-Logo-by-Mary-Hunt-Tagline-Trimmed-833x159.pngMary Hunt2019-06-27 01:49:532019-10-10 12:56:0725 Ways to Save $1,000 on Monthly Expenses
All around the country, newly-minted high school graduates will soon be heading off to college. They’ll be taking a lot of things with them, but statistics tell us that financial literacy is not likely to be one of them. If I could spend a little time with these awesome students, I’d attempt to cram the basics for how to manage money into their heads, then pray that it penetrates their hearts.
A budget is your friend
That means …
You have a written plan for how you are going to spend and manage money
You use that written plan like you would a road map, consulting it often and
You use a site like Mint.com or a pencil and paper to record how you spend every nickel.
Sallie Mae has a monthly budget worksheet you can print out to help you estimate your costs and keep expenses under control. Do not attempt to do this “keeping track” thing in your head. You are amazing, but don’t push it.
Live with cash
Your generation has been somewhat brainwashed to believe that plastic is the only safe way to pay for things. That may be true if you buy things online, but overall it is just not true. Even then, there is a really cool way that you can shop on Amazon with cash. Let me show you here.
I don’t have the time or space to get into a long dissertation on the subject, just believe me when I tell you that using cash—currency, greenbacks, dollars, coins—will simplify your life and it will keep you from overspending.
https://www.everydaycheapskate.com/wp-content/uploads/51847123_s.jpg565847Mary Hunthttps://www.everydaycheapskate.com/wp-content/uploads/EC-Logo-by-Mary-Hunt-Tagline-Trimmed-833x159.pngMary Hunt2019-06-11 00:57:392019-09-11 14:14:51How to Manage Money for College Freshmen and Others, Too
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