Tuesday, May 28, 2019

Tips to Hanging on to More of Your Money

We all want to hang on to our money.  There are many ways to do it - but sometimes they require a little work or imagination.  I am sure these ideas are things you all know - but maybe just a reminder course is do.

  1. Pay your bills on time!  Don't be late.  Extra fees will eat you alive.  NEVER have to pay late fees.  
  2. Rethink gifts.  Most kids have more than they could possibly need - so perhaps give them an adventure instead.  Ice cream date, zoo, museum, go-carts, fireworks, etc.  Adults don't generally need anything - so don't try to out do the Jones.  Think about homemade gifts - food items are a HUGE hit in my family.  Secondhand is totally fine as well.  Find that pretty candy dish, teacup/saucer, cake plate, tool, even clothes.  Sparkle it up and present it.  Older items are much better  quality than new.  Think about gifting family heirlooms as well!
  3. SAVE - most people say save 10% first - then pay bills.  I like at least 15% or more if you can.  Always pay yourself first - your future may depend on it!!!!!  If you get the opportunity to invest in 401K or similar DO IT.  You won't miss the money (usually pre-tax) and if your employer contributes as well - WIN-WIN.
  4. Shop secondhand for most everything if possible.  Small appliances and sporting equipment can all be purchased for pennies at yard/garage sales.  People want the newest and fanciest things - then don't use them.  There just isn't much you can't get secondhand.  My logic was always - "why should I pay full price when some other igit will".  I worked in an office setting for years and had to look nice - ALL of my clothes were thrift store.  I had quite the wardrobe and got lots of compliments.  There is NO shame in buying secondhand.
  5. Use it up, wear it out, make do or do without!  You have all heard that.  IT IS TRUE.  Don't go out shopping when you have something perfect at home already.  Reinvent items into new things, come up with creative ideas.  That is what our ancestors did - or they wouldn't have survived.  I can use a paring knife to peel a potato, I use worn out T-shirts as hankies or cleaning rags,  Pop bottles are great water  bottles (for storage), grungy old jeans make great patch makers for others, old clothes can be cut up into quilt pieces or rags.  Dressing, ketchup, mayo, mustard - just bits left in the bottom of jar - add milk or oil and shake, shake, shake.  Use it in soup, over meat, over a salad.  A sauce pan will boil water just like a tea pot!  The ideas are endless - just put on your thinking cap!

  1. Barter - barter with neighbors, family, friends.  Use their tiller and give them home canned goods.  Cut their grass and ask their kids to help in raking.  You have eggs - maybe they have berries.  On and on and on...………………….. I have a neighbor who is a retired professional painter (and rents) - he is painting 4 houses on the street for his landlord for 4 months FREE rent!  Winner, winner - chicken dinner!!!!!  (We all win on this one - because it looks nice too)
  2. Bulk or not?  That is the question.  I guess it depends on what you are getting and the price you can get it for.  Many times you can get much better prices IF you just pay attention to store sales.  If the price is right - but you can't use that much in good time - go in with a neighbor or family member - split the price and split the merchandise.  Make sure you have a good way of storing/keeping what ever you buy, so it doesn't go bad.
  3. Holiday deals and limits.  ALL stores now have "holiday" specials.  Generally they set limits - but that is ok.  Take your kid, your husband, your friend, etc. and get what you can use UNTIL you figure up when another sale will be.  Most are either holiday specials or specials that run every 6 - 9 months.  Have each person buy the limit.  I have even gone back in and purchased additional.  OK before I get yelled at - the store has those sales to get you in and to get rid of product - so I don't think I am doing anything wrong. If I don't buy it - someone else will - and they will make extra trips...…….. (FYI - I never empty shelves - unless they are almost out)
  4. Delay gratification - think about purchases before you make them.  My Daddy always said "the anticipation is always far greater than the realization".  Boy was he right.  Think overnight, think for a week, think for quite a while - especially if making a major purchase.  Hasty decisions can absolutely kill your bank account!!!!!!!!
  5. UNspoil the kids.  They don't need every fancy new thing that comes out.  TRUST ME - THEY DON'T!!!!!!  Let them whine a while - it builds character.  Make them earn it or earn the money for part of it.  That is not cruel and unusual punishment as some parents seem to think - that too is character building!  They need to know that not everything is theirs just BECAUSE they want it.  You will be making a wise choice to aid in their futures.
  6. Try your hardest to stay out of debt!  Pay it off as quickly as possible if you make any.  Pay high interest first.  Get rid of debt.  That is one of the biggest factors to unhappy marriages.  Owing money can be so destructive to your relationships and to your health - stress is not funny.
  7. If you owe and are basically 'upside down' - own more than you make - you have some hard decisions.  Get second or third jobs, cut out doing stuff, cut back to minimal budgets (no that doesn't include coffee at Starbucks), sell stuff - do everything in your power to get more money and get out of debt.  Sacrifice is necessary if you have gotten in that shape.  We have all had to make sacrifices - but it is sooooooooo worth it.  What a feeling of accomplishment.
(sorry I added a pic and the numbers started over)

The best thing to remember is *****  THE BEST THINGS IN LIFE ARE FREE!!!!!!!!!!!!!!
Amen to that.  Whether you have money or don't - enjoy your family, friends, nature, pets, God, freedom, health, etc..  Those are the important things.
Money is secondary to all else in my book.  I could live  in a sparse room with a pallet on the floor and be happy  with all the rest.

HAPPY FRUGAL LIVING

22 comments:

  1. Great reminders. When we had debt in our early marriage, we were always stressed. Not any more. We still stress sometimes but it used to keep us up at night. My kids love thrift store. They think their friends that pay full price are crazy. My youngest texted me the other day how much to tip for a manicure. She was going with some friends. I asked how much and told her a few dollars. Neither of us have every had a real one before. She had fun with her friends but said it wasn't worth the money for the future. She has to work an hour to pay for it. She paints her nails all the time at home for pennies and they always look great.

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    1. I am so happy that your kids get it and embrace it.
      I have never had a real manicure or pedicure wither. I do it at home. I dye/cut my own hair and years and years ago I gave myself perms.


      I just love that you have brought your kids up this way. You have given them very valuable lessons in life.

      Good job Momma!!!!!

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  2. I concur with all of your ideas, though I'll admit I'd not always the best and sticking to them. Since I've retired I've really paid attention to my spending and find I'm doing more thinking before purchasing and re-using/re-purposing items when I can. The gift idea is particularly appealing - last Christmas I picked up two items at a local thrift store for my daughter - a stamp kit and a Hallmark ornament - I paid less than $15 for what retails for nearly $60. I'll be looking for more of those bargains!

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    1. I think as we retire and have perhaps more limited funds we think about it more. It is hard to not splurge (not that it is a bad thing) all the time. Splurges are nice now and then.

      I like the idea of buying secondhand. There are just so many choices. Happy shopping!

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  3. Avoiding the stores is a must if money is tight. I'm always avoiding places like Target because there is just so much that I know something will beckon to me! I think so many people shop to try and feel better. I've had friends that lived in a house of chaos. Nobody really cleaned, stuff was piled on every surface, and I think they went shopping to escape it. I used to tell my friend that if they cleaned and organized their house, they would enjoy it. They were the kind that has stuff in boxes from 2 yrs. Ago. Stuff they *needed*.

    Gosh, as a kid, toys and wants came only on birthdays or Christmas. We never got stuff just cuz we wanted it. I laugh at the thought!! I think that delayed gratification as a kid makes a much more responsible adult. Entitlitis is an ugly disease!

    Always ask around before buying anything. You'd be amazed at how much we've gotten and given just for asking! We got a barely used bread maker for $5 when ours (wedding gift) broke. We had our choice of 3 when we asked around church.

    Great tips that everyone should print out for the young people in their lives. I wish I'd had them!

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    1. TURE! Stay out of stores. That is why I haven't been in a Target for years and years and seldom go to a Walmart. Just to many enticements.
      It is amazing at the stuff we ALL probably end up with that we don't use or really need. I agree, asking around is a huge plus. Most always you can find what you need.

      I hate the entitled attitude of so many today. It isn't just young folks either it seems. So many people the world 'owes' them. I just don't understand that way of thinking.

      Thanks. I hope everyone tries to teach their young ones at some of these. They will be better off for sure.

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  4. We are going through a very lean time the last few months but the bills manage to get paid and we have food to eat. Is it fun counting pennies - well no but it doesn't hurt us to do what we need to do for this season. Work will pick back up and that is the life of living on one small stable monthly check and an irregular income. Thank goodness for a pantry and a freezer. We are coming up with some interesting combinations or things we have never made before but still have plenty of food. Take care.

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    1. Thank you for the testimony! Lean times happen - it is a given. It sure is nice to be prepared. It sounds like you are. You have a wonderful attitude - that is half the battle.

      That is the exact reason it pays to be frugal, have our pantries, and have an emergency acct. I love coming up with new combos for meals - you may come up with a new 'family favorite'!
      Best of luck - you can do this!

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  5. All of these are great tips Cheryl. I live by many of them.

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    1. Yes, yes you do. I was thinking of you while I was typing. Your debt pay-off has been ever impressive. You understand what it takes.
      Great job.

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  6. Great tips Cheryl. One more is to use up what you have. I'm only adding that, as I just cleaned out the veg bins in the fridge and made soup. The veg was starting to get a little bit soggy and past its prime. So now it is a lovely soup that we can use as a veg stock or simply have as a cup of soup with some toast.

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    1. Absolutely! Waste not - want not.
      Those veggies may not be as pretty, but they sure can provide nourishment.
      Thank you!!!!

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  7. Both my husband and I were raised in frugal homes and ours is frugal too, out of necessity. And the older I get, the more I want to get rid of extra and unnecessary things. It is amazing how little is truly needed to live a nice, happy life. Our 23 year old son has recently begun picking up scrap to augment his income. He placed and ad on Kijiji (like Craigslist) that he would pick it up and he also scouts out the "free stuff" ads. It is AMAZING what people throw out! I think he could almost furnish a home. He goes through everything and resells things. So he makes some money, the buyers get what they want for a lesser price and he still makes money from taking the rest to the scrap yard (because now it truly is scrap). Thanks for your posts Cheryl. I always enjoy them.

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    1. Marie, I so love your statement "It is amazing how little is truly needed to live a nice, happy life". AMEN!!!!!
      Some people just don't get that.


      I know we have some other readers that buy cheaply from yard sales and resale. I love that folks are making a good living or supplement income with other's trash! Good for your son! So enterprising of him - he has found a niche and is making money! Also helping the earth!!!!!

      We have such a throw away society now. I love seeing people making use of those thrown away items, buying, selling and reusing them. I wish you lived close by - I have things that need to go to a scrapper in the basement.


      Thanks for your kind words!

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  8. Great tips. Definitely a way to be happy and avoid a lot of problems.

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  9. The City and County where I live put on a Repair Fair this afternoon at the library. A dear friend helped me get one of my wooden dining chairs over there. The chair seat had split down the middle. Paul, a volunteer, repaired it using wood glue, clamps, etc. We left it there for a few hours. He had to keep his clamps but fixed it so it could continue drying. Another volunteer carried it down to the car for us and we'll let it stay there overnight. They had women with sewing machines, electrical, and all sorts of repairs happening. All volunteers!Their motto is: Don't trash it! Fix it!

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    1. How cool is that!!! I love it - never heard of such an event. I am so glad you got your chair fixed and others got help too.
      More places should do this!

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  10. I'm convinced that if you are willing to wait you can find anything at a yard sale. I've a firm believer of that. Secondhand is the way to go to save so much money. This was a great post, Cheryl. I hope you are doing well. Remembering you always in my thoughts and prayers.

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    1. I thought about you and your daughter as I was writing this. I know your daughter sells a lot of things and is very enterprising, much like Marie's son is.

      Yard sales are definitely the cheapest way to go in our area then thrift stores. A little time is all it takes and patience!

      You are so kind, thank you. Doing OK.

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