So I mentioned that we had already taken steps to pay off our credit card debt. And while we've never studied the Dave Ramsey plan, I'm a huge fan of his snow-balling technique. And for those who care, that's what I plan to do with some more of our current debt so that I can get us right where we want to be before taking on a mortgage. :)
My goals are to get our oldest car paid off first (which sits at about a $6000 balance right now). Right now, that means a good 17-18 months left on the loan. I'd love to get it paid off in 8-10. And I'm not gonna lie- figuring out those numbers scare me a little. :-P
We DO carry a small balance right now on one credit card, and I plan on having that paid off in 2-3 months.
We'll save a little by not paying $185/ month for preschool this summer, so I'll try and stash anywhere from $150-$200 or more away each month from that. :) And all of that will go towards the down payment fund.
And for those of you who are wondering just how close we are to obtaining our 1st portion of that American Dream... We are currently at .84% of our minimum down payment goal. LOL. I know, I know... It's less than 1%. But you gotta start somewhere, right? Right?
Friday, May 14, 2010
YAY For Changes!!!
So, lots of changes for our family this week! I got a job! A real, clock-punching, doing something I love to do job. It has been almost 2 years since I have worked for someone else. But I have to say, this job is so perfect for me that I'm not worried at all. I'm just so excited to be teaching and to have the opportunity to take money and set it aside for our house and our future. Plus, Abbie will be right there in the same school with me. It's perfect. :D
In other news, I spent less than $60 on groceries for the next week or two. AND it only took us like an hour to do all of our shopping (thank you, ALDI, for setting up shop right next to Wal-mart). That's how I like my grocery shopping- Cheap and easy.
Have a great day!
Melissa
In other news, I spent less than $60 on groceries for the next week or two. AND it only took us like an hour to do all of our shopping (thank you, ALDI, for setting up shop right next to Wal-mart). That's how I like my grocery shopping- Cheap and easy.
Have a great day!
Melissa
Monday, May 10, 2010
How to view/use credit...
I never really used credit cards until after our daughter was born 3 years ago. I found myself working less and having to buy a lot more. My husband took a promotion and started driving 60 miles roundtrip to work every day, instead of 5 miles round trip. So our expenses were going up and our income was going down. And when I went to the grocery store with our new baby girl, a credit card seemed like a reasonable choice.
But 3 years and thousands of dollars of debt later, I realized that my approach to credit cards had been all wrong. Because those necessary groceries had turned into lunches and dinners and so many cups of Starbucks coffee that I could never possibly count. And despite the fact that I had amazing credit, my creditors were upping my rates without me knowing. And constantly changing my due dates. And making it nearly impossible to sign online and make a payment. And scheduled monthly payments? Forget about it! That might actually ensure that you pay your bill on time every month! :-P I was maxed out and taxed out and I was ready to get them paid off!
I went to a debt seminar about 6 months ago and learned a lot. But the error of my ways really didn't occur to me until about 2-3 weeks ago, when I was talking with my husband. I made a comment about not wanting to get him his own CC because he would use it for fast food or energy drinks or cigarettes. He laughed out loud, exclaiming that he would NEVER use credit cards for those little things and that that's not what they're for. He said the reason he's never carried a CC is because he figures most things you should pay cash for. and if you can't pay cash, you don't need them. It was like a light bulb went off over my head. Because 3 years later, I was still paying off on cups of coffee and clothes my daughter had long out grown. It made no sense whatsoever and I had been using my credit cards so often that it was impossible to keep track of the amounts on there.
We made the decision earlier this year to consolidate all of our loans through our credit union. The CU paid off the loans and we said good-bye to ridiculous interest rates. Now we're set up with a loan that costs us just $200 a month and only has a 9.5% interest rate (compared to anywhere from 19% to 27% :O ). It's a much better approach to our credit card problem, and I don't have to worry about making 4-6 payments a month or getting tacked with a $40 fee if I'm 5 minutes late because I got caught up in life.
So yes, I gave the CC industry a LOT of money. But I feel like I have a lot better perspective on credit cards now. Plus, we're saving a lot of money on interest and will have our debt paid off soon. It's a huge relief.
But 3 years and thousands of dollars of debt later, I realized that my approach to credit cards had been all wrong. Because those necessary groceries had turned into lunches and dinners and so many cups of Starbucks coffee that I could never possibly count. And despite the fact that I had amazing credit, my creditors were upping my rates without me knowing. And constantly changing my due dates. And making it nearly impossible to sign online and make a payment. And scheduled monthly payments? Forget about it! That might actually ensure that you pay your bill on time every month! :-P I was maxed out and taxed out and I was ready to get them paid off!
I went to a debt seminar about 6 months ago and learned a lot. But the error of my ways really didn't occur to me until about 2-3 weeks ago, when I was talking with my husband. I made a comment about not wanting to get him his own CC because he would use it for fast food or energy drinks or cigarettes. He laughed out loud, exclaiming that he would NEVER use credit cards for those little things and that that's not what they're for. He said the reason he's never carried a CC is because he figures most things you should pay cash for. and if you can't pay cash, you don't need them. It was like a light bulb went off over my head. Because 3 years later, I was still paying off on cups of coffee and clothes my daughter had long out grown. It made no sense whatsoever and I had been using my credit cards so often that it was impossible to keep track of the amounts on there.
We made the decision earlier this year to consolidate all of our loans through our credit union. The CU paid off the loans and we said good-bye to ridiculous interest rates. Now we're set up with a loan that costs us just $200 a month and only has a 9.5% interest rate (compared to anywhere from 19% to 27% :O ). It's a much better approach to our credit card problem, and I don't have to worry about making 4-6 payments a month or getting tacked with a $40 fee if I'm 5 minutes late because I got caught up in life.
So yes, I gave the CC industry a LOT of money. But I feel like I have a lot better perspective on credit cards now. Plus, we're saving a lot of money on interest and will have our debt paid off soon. It's a huge relief.
Sunday, May 9, 2010
What I Did This Week....
With school finishing up, preschool winding down, my daughter's 3 year old birthday party, and summer fast-approaching, it has been another CRAZY week at our house! So this week I spent an amazing $150 on her birthday party (I thought that was PHENOMENAL, especially since we hosted about 40 people). Last year I spent close to $400. So big improvement for sure. And I didn't even try that hard :-P
I set aside another $20 to the house fund... WOO HOO!! :-P Right now, the house fund is not something I'm setting $ aside for every week, but more something I'm just throwing extra cash into when I have it in my hands. :)
As far as grocery shopping, I have been to Target. I spent $99 and saved $20.50 in off the top savings (15.50 in coupons, not doubled or tripled and 5.00 in free gift cards b/c I had a qaulifying purchase). I spent a little more than expected, but stocked up on some staple items that will last me a few weeks (dog and cat food, namely) I'll be hitting up ALDI for produce and possible meat. I hope to spend less than $30 on all of that. *fingers crossed*
Hope everyone had an awesome Mother's Day!
Melisa
I set aside another $20 to the house fund... WOO HOO!! :-P Right now, the house fund is not something I'm setting $ aside for every week, but more something I'm just throwing extra cash into when I have it in my hands. :)
As far as grocery shopping, I have been to Target. I spent $99 and saved $20.50 in off the top savings (15.50 in coupons, not doubled or tripled and 5.00 in free gift cards b/c I had a qaulifying purchase). I spent a little more than expected, but stocked up on some staple items that will last me a few weeks (dog and cat food, namely) I'll be hitting up ALDI for produce and possible meat. I hope to spend less than $30 on all of that. *fingers crossed*
Hope everyone had an awesome Mother's Day!
Melisa
Wednesday, May 5, 2010
Meal Planning
So I mentioned that one thing I do to keep myself on top of things is to meal plan. I know to some people this sounds WAY too hard, but I tend to keep it pretty simple. And it saves $$$ too. Because I am going to school full-time, raising a 3 year old, and running a business, I usually don't have more than 30-60 minutes to spend on dinner, if that. So I try and do quick and easy recipes. Here's what's on the menu for this week (while our double ovens are out of commission :( )
Last Friday (I grocery shopped on Friday) Spaghetti with salad
Saturday- Fried chicken with homemade mashed potatoes and salad
Sunday- Sticky pork chops, pasta, and fruit salad
Monday- Was leftovers, but we went out to dinner for Abbie's birthday
Tuesday- Jumbalaya with cole slaw and salad
Wednesday- Grilled chicken with homemade potatoes and salad
Thursday- leftovers or lasagna
Friday- Pizza and salad
I don't do everything from scratch, but I don't cook everything out of a box either. Side items often come boxed because of time constraints, but I fit in things like homemade mashed potatoes when I can :) And, with the exception of eating out on Monday, if you add up the cost of all my dinners for the week... I probably only spent about $35 on dinner for the week :D :D :D :D
Last Friday (I grocery shopped on Friday) Spaghetti with salad
Saturday- Fried chicken with homemade mashed potatoes and salad
Sunday- Sticky pork chops, pasta, and fruit salad
Monday- Was leftovers, but we went out to dinner for Abbie's birthday
Tuesday- Jumbalaya with cole slaw and salad
Wednesday- Grilled chicken with homemade potatoes and salad
Thursday- leftovers or lasagna
Friday- Pizza and salad
I don't do everything from scratch, but I don't cook everything out of a box either. Side items often come boxed because of time constraints, but I fit in things like homemade mashed potatoes when I can :) And, with the exception of eating out on Monday, if you add up the cost of all my dinners for the week... I probably only spent about $35 on dinner for the week :D :D :D :D
Saturday, May 1, 2010
Some of the Sites I Love...
A lot of moms already know about these sites, but I will throw just a few of them out there. Now I will say that I do NOT do a lot of internet shopping, but I do use one of my most valuable resources (the 'net) to save me money and time when possible.
www.restaurant.com- This is a really neat site that lets you print out gift certificates for up to 80% off your favorite local restuarants!
groupon.com- I have not used this yet, but I'm hearing a lot about it so check it out! :D
http://www.couponmom.com/- I use this site b/c she can tell you where to use your coupons to get the best deals. It's really neat!
http://kidsteals.com/ and babysteals.com- The way these sites work is that they post a product every day for usually 50% or more off the price. They sell as many of the item as they have at that price and then they're gone. I've snagged a couple of things for Abbie and it's fun to get name brand items at such a steal.
Craigslist- I've used CL for bigger items, like Abbie's first tricycle, an art easel, and ball pit. I easily save about 90%. I also shop garage sales and that's where I scored her $50 play car for $5, as well as her $80 sand and water table for $10. It's a great place to get things like kitchen sets, sand boxes, and so many of those things that you awnt your child to have but you don't feel the need to pay so much for... namely because the items are just one big piece of plastic :-P
If I DO shop online, I use sites like this to see if I can snag promotional codes that others have put out there :) I love to shop The Children's Place and they almost always have coupon codes out! :D
http://www.retailmenot.com/
I'd love to hear other sites that you use!
Melissa
www.restaurant.com- This is a really neat site that lets you print out gift certificates for up to 80% off your favorite local restuarants!
groupon.com- I have not used this yet, but I'm hearing a lot about it so check it out! :D
http://www.couponmom.com/- I use this site b/c she can tell you where to use your coupons to get the best deals. It's really neat!
http://kidsteals.com/ and babysteals.com- The way these sites work is that they post a product every day for usually 50% or more off the price. They sell as many of the item as they have at that price and then they're gone. I've snagged a couple of things for Abbie and it's fun to get name brand items at such a steal.
Craigslist- I've used CL for bigger items, like Abbie's first tricycle, an art easel, and ball pit. I easily save about 90%. I also shop garage sales and that's where I scored her $50 play car for $5, as well as her $80 sand and water table for $10. It's a great place to get things like kitchen sets, sand boxes, and so many of those things that you awnt your child to have but you don't feel the need to pay so much for... namely because the items are just one big piece of plastic :-P
If I DO shop online, I use sites like this to see if I can snag promotional codes that others have put out there :) I love to shop The Children's Place and they almost always have coupon codes out! :D
http://www.retailmenot.com/
I'd love to hear other sites that you use!
Melissa
Meal planning and coupon-cutting, OH MY!
So I do lots of things to stay on top of our budget and to ensure that we are able to not only pay our bills, but also save money.
I have not worked full-time since before our 3 year old was born, and it's defintely been an adjustment. Some of the big things I do to save money are with my grocery bill. For example:
1. We don't eat out hardly ever.
2. I plan our meals at least a week in advance.....And I plan AFTER I buy meat because it tends to overtake my grocery bill if I don't get it on sale. I always buy meat on sale. And then I freeze it and distribute it throughout the week. I buy in bulk with very, very few exceptions.
3. I cut coupons and make the most of them. I try to use coupons under $1 at Kroger because they will double and triple them. Then I use ones that re $1 or more at Wal Mart. I have also fallen in love with ALDI, which has awesome prices on fruit and many other things.
I try to spend less than $400 a month on groceries, and that takes care of a family of 3-5 (not everyone is here to eat every night), 3 dogs, and 3 cats. I spend about $75 on groceries a week.
Yes, sometimes it's a pain. But I really don't take a lot of extra time to do these things. Here's my routine:
Cut out coupons when they come in the Sunday paper. Organize them in my coupon holder (I do it by product. For example pizza coupons go under "P". That way, if I need pizza, I can also compare all my coupons to what's on sale that week, etc, and I can get the best deal.
Before I go to the store on Friday or Saturday, I write down everything we need. Then I go through and see what I have coupons for.
I then re-organize my big list into smaller lists. I divide it by store (what I'm going to get at Kroger and what I'll get at WM or Target, etc). I make a note as to what I have a coupon for and I set the coupons aside. I keep all the Kroger ones together and I keep the WM/Target ones together. **Hint** Target also sends out their own coupons for things, and these can be used in addition to the manufactuer's. The thing about coupons is that you don't get a great deal just b/c of the coupon most of the time... You usually get a great deal b/c you combine the coupon with a sale, another coupon, or you get it doubled/tripled. :)
I make an envelope for Kroger and WM or wherever I'm going and that way, I have my list for each store and the coupons I need for that store right there with me.
Sometimes I use couponmom.com. I pay attention to anything in her coupon database that is 70-100% off. Yes, you can usually get SOMETHING free at Kroger every week. And if there's something I need, I make sure to snatch it up. But I don't buy things just b/c they're on sale. I get what I need that week, and there are very few things I wait to buy until I have a coupon (one exception are my husband's ridiculously expensive razors :-P).
I go to Kroger first and then WM or Target. And now that I've discovered ALDI, that will be my 1st stop for produce and things I know I won't find cheaper at the other stores.
It's taken me awhile, but that's my system... I typically save at least 30% (sometimes 50% or more) at Kroger and anywhere from 10-20% at Wal Mart.
This week, I spent 13.97 at Kroger and saved 6.30.
I spent 91.68 at Wal-Mart and saved 16.00
At ALDI, I snatched up some deals like a whole pineapple for .99 (3.99 everyhwere else), .99 for a lb of strawberries, and 2.40 for 10 pounds of potatoes!
This week we spent almost $150 in groceries, but I can guarantee you we'll probably only spend $50 next week. So it evens out. :)
All right... enough rambling about my grocery bills. Next post: Meal planning!
Melissa
I have not worked full-time since before our 3 year old was born, and it's defintely been an adjustment. Some of the big things I do to save money are with my grocery bill. For example:
1. We don't eat out hardly ever.
2. I plan our meals at least a week in advance.....And I plan AFTER I buy meat because it tends to overtake my grocery bill if I don't get it on sale. I always buy meat on sale. And then I freeze it and distribute it throughout the week. I buy in bulk with very, very few exceptions.
3. I cut coupons and make the most of them. I try to use coupons under $1 at Kroger because they will double and triple them. Then I use ones that re $1 or more at Wal Mart. I have also fallen in love with ALDI, which has awesome prices on fruit and many other things.
I try to spend less than $400 a month on groceries, and that takes care of a family of 3-5 (not everyone is here to eat every night), 3 dogs, and 3 cats. I spend about $75 on groceries a week.
Yes, sometimes it's a pain. But I really don't take a lot of extra time to do these things. Here's my routine:
Cut out coupons when they come in the Sunday paper. Organize them in my coupon holder (I do it by product. For example pizza coupons go under "P". That way, if I need pizza, I can also compare all my coupons to what's on sale that week, etc, and I can get the best deal.
Before I go to the store on Friday or Saturday, I write down everything we need. Then I go through and see what I have coupons for.
I then re-organize my big list into smaller lists. I divide it by store (what I'm going to get at Kroger and what I'll get at WM or Target, etc). I make a note as to what I have a coupon for and I set the coupons aside. I keep all the Kroger ones together and I keep the WM/Target ones together. **Hint** Target also sends out their own coupons for things, and these can be used in addition to the manufactuer's. The thing about coupons is that you don't get a great deal just b/c of the coupon most of the time... You usually get a great deal b/c you combine the coupon with a sale, another coupon, or you get it doubled/tripled. :)
I make an envelope for Kroger and WM or wherever I'm going and that way, I have my list for each store and the coupons I need for that store right there with me.
Sometimes I use couponmom.com. I pay attention to anything in her coupon database that is 70-100% off. Yes, you can usually get SOMETHING free at Kroger every week. And if there's something I need, I make sure to snatch it up. But I don't buy things just b/c they're on sale. I get what I need that week, and there are very few things I wait to buy until I have a coupon (one exception are my husband's ridiculously expensive razors :-P).
I go to Kroger first and then WM or Target. And now that I've discovered ALDI, that will be my 1st stop for produce and things I know I won't find cheaper at the other stores.
It's taken me awhile, but that's my system... I typically save at least 30% (sometimes 50% or more) at Kroger and anywhere from 10-20% at Wal Mart.
This week, I spent 13.97 at Kroger and saved 6.30.
I spent 91.68 at Wal-Mart and saved 16.00
At ALDI, I snatched up some deals like a whole pineapple for .99 (3.99 everyhwere else), .99 for a lb of strawberries, and 2.40 for 10 pounds of potatoes!
This week we spent almost $150 in groceries, but I can guarantee you we'll probably only spend $50 next week. So it evens out. :)
All right... enough rambling about my grocery bills. Next post: Meal planning!
Melissa
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