Low Spend September – 5 Tips

Low Spend September

Every year around early fall and also in mid winter, I get the bug to stop spending money.  This is probably because I’m so into my home projects that I go crazy in the warm and sunny months completing as many projects as I can.

This summer was no different.  I completely re-decorated my downstairs and also redid all non-carpeted flooring in my house and one bathroom.  While I made sure to never go negative on my spending, I’m ready to go positive for a few months and get that savings back up.

Here’s what I’ve done in the past and plan on doing again.  Let me know if you have tips as well!

  • No large purchases – At this point most of my spending is because of large items, tables, couches, etc.  Since there is really no room in my house for any new items, I’m saying no large purchases (which includes outdoor furniture which is my next project area).
  • Limit random spending to $25/weekend – I’ve learned that since having my house I’m always ‘needing’ something new.  I also know it’s impossible to knock out all of my spending, so I’m giving myself a small limit to get random items that come up.  –I finally found placemats and towels that match my kitchen after looking for five months!  That’s where my money went this weekend.
  • Take advantage of freebies and rewards – With all of my redecorating earlier this year, I racked up some rewards points at Wayfair and was actually notified that my points would be expiring soon.  So, I looked around the site and found bought a kitchen knife (we’ve been looking for good knifes).  The rewards I had covered the expense and shipping!  I also signed up for some of those mail freebies which is something I did last year and got quite a bit of stuff.  The main things that stand out are 5 packages of Nesquick mix and 4 tea k-cups.
  • Clean out the cupboard and freezer (and use the items) – Like most people, I’ve gotten in the rut of buying groceries without using all of the groceries I have in my house.  Many times, the items I’m restocking are processed easy to prepare foods which is not good on so many levels.  So part of my savings this month is to use up as much of the food I have on hand without going to the store except for a few perishable items.  I’ve done this in the past and it’s very helpful to save from spending and helps me to eat healthier, and helps with refreshing the cabinets and avoiding expiration dates.
  • Ditching recurring payments – Some other things I’ve done or plan on doing once contracts are up is unsubscribing from television, Netflix, and security monthly recurring fees.  With videos, there are so many ways to watch that there is no need to pay a recurring fee for methods I don’t ever use.  And with the security, I feel that managing on my own will be just as safe as if it was managed by a company because I really just need to know if something has gotten into my house before me so I don’t walk in.  If I’m already home then either way I’d be out of luck.

Like what you’ve seen so far?
Join the mailing list to be the first to know when a new post is published!

Money Saving Patience

 money-saving-patience

 

I have the smallest backyard ever!  At least, one of the smallest backyards in my neighborhood.  One of my biggest issues with my backyard is that I can’t turn the lawn mower around while mowing the lawn.

So, after three summers of using a freebie lawn mower that was on it’s last leg when I got it, I’ve decided that this is the last summer I will struggle with the large lawn mower.

My search began with browsing my standard internet sites, Amazon, Walmart, Home Depot.  I decided on the type of lawn mower that I wanted.  A small cordless, electric lawn mower.  The idea was brilliant.  Easy mobility, no having to pump and pull a cord endlessly, and it wouldn’t take up as much space.

Now for the downfall.  These smaller lawn mowers were upwards of $250.  The cheapest I found with what I was looking for was over $220 at Walmart.  Being a very frugal person, I knew this wasn’t the option for me.  I may just have to continue to struggle with the mower I have.

With that, I stopped looking and decided that on Labor Day weekend I would check the sale papers to see if there were any good deals.  Well, we haven’t made it there yet.  Labor day isn’t until next week.


BUT, as I was cruising Facebook Sunday afternoon, a post on the neighborhood Treasures page caught my eye.  Could it be exactly what I’ve been looking for?

Bingo!  A small, cordless, electric lawn mower, only one year old for $100!  I did second guess the price because the lawn mower was used and without asking, the seller came down to $80.

I’m usually not the most patient person, but this time being patient paid off big time!  Sometimes you find what you are looking for when you really aren’t looking for it at all.

Like what you’ve seen so far?
Join the mailing list to be the first to know when a new post is published!

Reconciling your Savings

reconciling-your-savings
Last week, we discussed how to reconcile your checking account based on your projections.  This week, we will begin reconciling the savings account as well.

1capture

In our projections example, the first month we transfer to the savings account is April.  To reconcile this transaction, begin by reconciling the checking account the same as previous months.

11capture
When you get to the ‘Transfer’ line, C37 in our example, we will use an equation to get the total amount to transfer.  You could also grab the transfer amount from the Projections page but I prefer to use the equation because it acts as an extra check point.

Because we want to keep $1500 in the checking account at all times, we want to transfer everything over $1500 to the checking account.

To do this, subtract $1500 from the running total.  This is the amount that you want to transfer.  Make sure to put this amount in as a negative amount since we will be taking it out of the account.

Here’s the equation:

  • =-(D36-1500)

12capture

Add a tab titled ‘Savings’ and create the same header as we did for the checking account.  Add the Transfer as the first transaction.  Continue adding on for following months.

 

Like what you’ve seen so far?
Join the mailing list to be the first to know when a new post is published!