Happy Tuesday and happy July. July, and this morning I have on a light sweater! It was 60*F this morning when I got up. It is lovely. The past 2 days have been lovely! Tomorrow looks to get hotter & humid again, then some storms coming in. But goodness sakes, I will surely enjoy these cooler days! Windows open and fresh air in the house - have to love this!
More about simplicity today. It really doesn't have to be complicated - hence the word! We are the ones that tend to complicate things.
Our financial journeys don't have to be complicated to be successful. I hope these posts help someone starting out - so they can avoid the mistakes many of us made along the way!
Start by getting rid of the barriers. Pay extra when and where you can on any bill that has an interest amount adding up. Mortgages, charge cards - need to get paid up. Take steps to manage these bills and get to your milestone faster. Slow and steady wins the race. Stop the extra spending.
Simplify everything. You know how lovely your closet looks when you simplify your wardrobe? - well you budget can look like that too. Remove items that are in your way. Stop spending on unnecessary things - you know what they are. Stop that eating out, the daily coffees, the clothes shopping, the bad habits. By removing the money guzzlers, you are going to bring more simple joy into your life.
Take time and assess your spending habits and then simplify them. If necessary, write down EVERY expenditure over a month. EVERY SINGLE ONE. You will soon see a pattern of silly spending!
Remove those and start to breathe a little easier and think about your goals.
The less you buy and spend - the simpler your life becomes. You learn to appreciate the "simple" things. You will learn they aren't so small - they are precious.
Start making good decisions and start making new habits. You have to change in order to get ahead and have the future you want.
Small decisions make big difference.
Make some simple changes and start seeing a reward.
- Work on your budget and look at things for a few minutes each day
- Learn from others - research and get advice when needed
- Eat at home from scratch more often
- Renegotiate some of your basic bills - phone, cable, insurances, internet, etc.
- Pay an extra $50 or $100 on your credit cards (you will ever get ahead paying minimum payments)
- Start saving $50 a month or more to your emergency fund
- Get into a 401K or IRA with your employment if offered
- Spend an extra $5/$10 a week on groceries to stock your pantries or freezer (yes, that is an investment in your future)
- Find FREE fun - events at parks, picnics, walks, etc.
Simplifying your steps to a future you want, isn't lazy work, nor is it a cop-out. It is streamlining the path. It is a beautiful thing. We have always heard if it is worth having it is worth working for - true, but it doesn't have to be miserable - simplifying can be wonderful and it gives you freedom.
Try not to get overwhelmed during this process on making a good life. I know sometimes it can get that way. Been there and done that. Trust me, it just isn't worth the nerve wrenching obsession we take on. Slow and steady is the way to go.
Start small - and make some simple decisions. Start small in saving and paying off - and as you start to notice progress, you will get excited to do more. Small steps can be mighty!!! Then you get on a roll and off you go to a future you can sit back and enjoy. BUT just remember to enjoy the ride along the way as well.
I wish all starting out on the journey great success. IT CAN BE DONE! Don't give up.
You got this. Get started today simplifying your life and your finances will thank you!
Have a wonderful day.
I renegotiated the phone bill and saved Tommy $100/month. In the same week, I got him a better deal on TV plan, saved him $25/month with an additional 25 more channels. Now, we have no idea what they are or if we like them. They are to send us the new plan channels. This was just what I did last week or so.
ReplyDeleteIt is amazing how you can negotiate and get smaller bills. Good job. Big savings.
DeleteOkay, trying again!! Not gonna say too much. Allis well. It's HOT!! 🥵
ReplyDeleteAll great advice here. So much easier to just start than to obsess about it all. Baby steps. Hope everyone is getting by okay!
Hey girl - you are here!!!! So glad to see you. I hope you can start posting more and not have problems.
DeleteGlad all is well for you. The heat is on in so many places.
Thank you!
Please keep trying - love seeing you!!! Have a great one.
Look at the sweet Bits, sniffing the flowers! Too cute!
ReplyDeleteHaving peace of mind with a simple life is far superior to dreading the ringing of the phone or going to the mailbox, knowing you are behind on bills. Good advice for all of us! We are careful when shopping for groceries and almost all of my clothes came from charity shops. The Farmer has troublesome feet so we do buy quality shoes so he can get around with a minimum of discomfort. Of course now, we shop for "grow-ceries" in the backyard. I'm going out to pick beans in a bit.
It is a beautiful day and I am grateful for these cooler, less humid days. Enjoy your day!
I am glad he decided to check out the flowers.
DeleteI remember having times when I wouldn't answer the phone, and there was no caller ID! The mailbox could make me anxious. So glad days are long gone. Live and learn.
Yum of fresh green beans.
Today is gorgeous and I have the AC off and the fresh air coming through. Been visiting neighbors a bit today.
Keeping track of expenditures is so important. It's easy to not notice those small purchases that add up. I dislike credit cards for those starting out because they are far too easy to use and the companies tend to just increase a person's limit when they overspend. It takes discipline to recognize one is spending money that doesn't exist. Plus the interest rates they charge are ridiculous. A better option is a line of credit or demand loan, where payments are required, but only for unexpected expenses, such as a vehicle or property repair.
ReplyDeleteYes mam, keeping track is so important. Those coffees, or cigarettes or lunches add up and you don't even realize it.
DeleteI agree, CC's are way too easy to use and then they get you with high interest charges. Very good tip - use it only for important things.
The only thing I need is new walking shoes soon. I've been on these shoes for 300 miles in 2 months and I prefer to have 2 pair to alternate days. I spend really good $ on keeping my feet healthy as I hope to walk about for another 30 years (I'm 63).
ReplyDeleteQuality is so very important on many things - and your feet are part of your health. Health is important to us all. Problems and sickness cost $$$. Hope you find a good deal.
DeleteEven as someone who has been frugal for much of my life, keeping track of every penny that comes in and goes out has helped me greatly, especially since our financial situation has changed so much in the past year with Roger's care facility expenses. It also helps me get a handle on planning for the future when he passes and my income drops substantially. Even though I have done some things to save a substantial amount of money, I still watch the smaller expenses, too. For example, I decided to have my cataract surgery while I still have health insurance, savings thousands, but I also quit buying books, using the library instead, saving a couple hundred a year. It all adds up.
ReplyDeleteBy the way, the second cataract surgery was successful, and I expect to be driving tomorrow if I get cleared at the post-op appt. this afternoon. Going to Dollar Tree for cheater reading glasses. More money saved.
Keeping track truly helps. G used to do that for ages on EVERYTHING we spent even a few dollars on. It was pretty eye opening.
DeleteIt is so wise to plan for the future - as we never know what can happen or will happen. Yes mam, utilize that insurance for anything major that needs taken care.
I am fine financially, but like you I still think really hard about big things and just live in a simple frugal way. Not a thing wrong with that, and as I see it , it is important for our future.
I got prescription glasses after the cataract surgery, and I don't wear them hardly ever. I use the cheaters and they work just fine!! Glad you have it all done and the world looks brighter!
You are being very wise in your decisions at this time in your life. Glad to have you stop by. Take care.
Great reminders! I need to work on some of these items today.
ReplyDeleteThank you. I think it is an ongoing project for all of us. We need to be alert of things and make plans.
DeleteGlad to have you here!
Great post Cheryl. More need to understand what is truly important in life. I love having a calm, quiet lifestyle.
ReplyDeleteIt is the best isn't it? I love it to. Thank you.
DeleteSo much to enjoy in life other than stuff.
Excellent commonsense advice today Cheryl, we too certainly struggled for many years, watching EVERY cent. We lived within our means which meant we did without sometimes, but we worked and saved hard. Now we are in a position to enjoy the fruits of our labour.
ReplyDeleteThat is such a cute kitty photo, brings a real smile to my face. Take care, Louise
Thanks. Sometimes we just have to do the dirty work, to enjoy the better life. Many don't understand that now. You sacrifice and get the debt gone and then you live and enjoy. However we did enjoy along the way as well - simple camping, or spending time with family/friends - none of it cost us and we enjoyed the ride.
DeleteGlad you got a smile from Bits as well!!!
Shortly after hubs passed, I sat down and looked at each charge card bill and open account (home equity, etc.). What was the balance, the interest rate and minimum payment? I then listed them in order of highest interest rate first. I took the total outstanding debt and calculated how long it would take to realistically pay it off, while still covering other bills. And then, added that amount to the next highest interest rate, until that one was paid down. And, all but one card was removed from my wallet. 10 years later, and all charges are paid in full each month, unless there's a 0% promotion, and then I pay that one off in half of the allowable time.
ReplyDeleteThis past month, I decided to move from cable to streaming. I purchased 2 Roku devices at Best Buy for less than $30 each. My cable bill was running over $250/month. I've been using Roku channels, Tubi, Freevee, PlutoTV, my local news station's free apps, YouTube (NOT YouTube TV), and Prime. Some great shows out there. At some point, I may add a subscription channel or two, but not necessary right now. Those funds can be applied to something better now.
Very good advice and a great remedy for bills owed. Get rid of those high interest bills first. That sure does help.
DeleteI do use a card now and then and always pay it 100% when I get the bill. No interest rates going to get me.
I like your ideas on TV viewing. That is pretty smart. I need to learn how to really use my Roku and see what all it provides.
Great advice - thanks for sharing.
Paying our recurring bills on line is a time and stress saver. We have Prime as we order a few items from them so we get Prime TV and music as well, and believe me I make good use of those perks.
ReplyDeleteGod bless.
Good for you. Good advice for those who like to pay online. I still do not do that - I just feel better writing checks. From what I hear there are many advantages to having Prime.
DeleteYou can still have treats and perks on a budget.
ReplyDeleteOnce a week I make up a week's work of fun drinks to be stored in the fridge. Right now I'm using up my supply of teas & herbal coffees (adding flavors & sweeteners). Whenever I want a cold, fun drink I have one in the fridge ready for me.
I bake up a quick bread or muffins and freeze individual servings. I can usually bake up a quick bread or 6 jumbo muffins for less that the cost of one from Panera.
Yes, treats like that make the day fun. Plus it can be really helpful to grab a muffin & a cold drink on the way out the door on a busy day.
Copy ideas from restaurants just don't buy from them! Lol
YES! Good reminder. You do not have to feel like you are living without fun stuff or perks in life. You can easily make your own. I do often make up recipes to taste like some restaurant food I have had in the past. Just because one lives a simpler life doesn't mean it isn't a good and fun life.
DeleteThanks for that reminder.
I would like to suggest the value of delayed gratification. We had been married 8-1/2 years before we started our family. TBH, the reason wasn't frugality--it was infertility. And we never intended to wait that long. But by the time we adopted our first child, we'd already owned a home for 5-1/2 years. That was huge and the benefit carried over for many years. I realize this advice is a little late for most of us here, but it's something to suggest to our children and grandchildren.
ReplyDeleteAnother benefit of delayed gratification is how much fun it is when you finally reach your goal! It is difficult to buy gifts for my son because, as my daughter-in-law says, if he wants something he just buys it! Fortunately, they're debt-free except for their home mortgage and have money in the bank, but frankly I think he is missing a lot. I love the pleasure of wanting something, saving for it and eventually getting it. Not to mention that when I want something and have to wait for it, half the time I decide I don't want it!
One big mistake my husband and I made was going out to lunch most of the time when we worked. How I wish I'd packed lunches every single day and had the money we spent. Geez...it was just lunch!
So, let me tell you how my friend does it: As she is cleaning up from dinner, she (or one of the kids) packages up the leftovers for lunch the next day. Then she adds fruit or whatever to fill it out. It takes almost no extra time and in the morning, she has everyone's lunch ready to go. This works great for anyone with access to a microwave at work.
You are so right. Everybody is in a hurry to get what they want today. Young people want what their parents worked years to get, and they want it now. There is much to be said about delayed gratification.
DeletePaying off those debts IS exciting. It was always such a high point for us to get something paid off. Then we moved on to the next.
Those work lunches sure do add up. People don't really think about it. Today it is probably between $50 and $100 a week for 5 days worked. That it is a lot of $$.
Good tip on packing up the leftovers. That is another meal and no more money spent.
Thanks.
I typed this out yesterday, but apparently it didn't post ... Such is life. 10 years ago, I vividly remember sitting down with the bill-payment ledger, as my household income had just been cut by about 1/3, following my hubs passing -- widow's pension is reduced to 1/2 of what the retiree's pension was, but the bills don't necessarily reduce by half. We had balances on each store card (all of them!), as well as a Visa (high balance) and Master Card, and both a home equity line and loan, along with the mortgage, one vehicle payment, and real estate taxes on multiple properties (none income-producing). As panic set in, I listed each monthly bill, with interest rate, balance, and minimum monthly payment, and a guess at how quickly I could realistically pay each off. I divided the balance for each account by the number of months "I" wanted to pay it off and that amount became "my" monthly payment. My focus was getting the highest interest paid off first, then worked my way down the list. And, once a bill was paid in full, that amount could be applied to other bills. The most important thing for me was that ALL credit cards, except one (for emergency), were removed from my wallet and left at home. Within 3 years, all debt was paid off, including the remaining mortgage, home equity loan, home equity line, and my car. Now, all credit card bills are paid in full each month, unless something (i.e. furniture) was bought on a "0% for 12 months" plan, and then I pay it off in half the time, just to be on the safe side. The bonus was that, when I needed to replace my vehicle, my credit score had risen to the point that I qualified for 0% financing and that put me in the driver's seat when it came to negotiating the purchase -- very powerful feeling!
ReplyDeleteLast month, I finally cut the cable and moved to all streaming, going from $250+/month to $54 for internet only. And, right now, I have no paid services other than Prime (which I have for other reasons). There's plenty of free channels available -- Pluto, Tubi, Freevee, YouTube (not YouTube TV), and others, plus I've loaded apps for my local TV stations, so I get local news and weather. It's working perfectly and saving me a lot of money. I may add a paid channel or two in the future, but not to the tune of $250 a month.
You did have a post yesterday - but not as detailed.
DeleteWOW, you were faced with a lot. That is the scary part of life - things can happen in a blink of the eye that we are never prepared for - and boom, we have a whole bunch of new things to face.
You worked really hard and you are a huge success story. You did a fantastic job to get everything taken care of in that time frame.
You are so right, our finances can change drastically, but the bills stay the same. You should be very proud of all you have taken care of. Yours is a great testimonial.
Thank you for sharing.
LoriK, you did great! I have occasionally bought big-ticket items on 0% for 12 month deals. I divide the amount of the purchase by 12 and set up an auto payment each month for that amount. If you miss paying the bill in full in 12 months, even by a couple of days, the CC issuer can charge you full interest from Day 1. Those deals are only a good deal if you are super vigilant, and automatic payments work for me.
ReplyDelete