I went ahead and switched my insurance over to the High Deductible plan, which will lower my premiums by about $100. It will also mean that my deductible jumps from $500 to $1200 but it also means that I now qualify for a High Deductible Health Plan (HDHP) which means I can now get a Health Savings Account (HSA).

My insurance company does not allow you to have a FSA and the HSA at the same time so I will have to get rid of my FSA once the new plan kicks in and everything gets rolling. This change also means that I will have to tweak the budget YET again because I am not sure how the lower deductible and other deductions will affect my net income. I do plan on investing the difference between my old premium and the new lower premium into my HSA so that I do not get too off track with my cash flows.

My employer does not offer the HSA through its staff so I had to go to Chase to get my HSA set up. The process on the website was easy since I already have accounts with Chase. I simply clicked on the banking options and chose Health Savings Account and proceeded to enter my information. I got my account set up in about five minutes and made the initial deposit that they require to open the account.

I will need to fund my account via payroll deductions and my contributions will be taken out pre-tax which is even better for me. (more on THAT later).

Make Money with With Text Link Ads On your blog!

• Thinking Of Starting A Health Savings Account
• 10 things to get rid of
• M&T Online Banking (Site Review)
• How Can You Get A Really Cheap Auto Insurance Policy? (Guest Post)
• I got my FREE $125 from Chase!!

I have decided to post my weekly spending for the previous week on Fridays so you know how my cash has been flowing for the week. Please note that I get paid on the last day of the month so my cash flow net effect will usually be negative until the last day of the month.

This does not mean that I am adding to my debt, it just means that the money coming in is less than the money going out because bills are due starting on the first but I don’t get paid until the last day.

So again to clarify (since I get so many questions), this shows the cash FLOW for the month. On Day 2 of every month I will have a negative FLOW because I have paid rent etc so money has LEFT my checking account. I have not had any money come in on Day 2 of the current month since I got paid on day 27 or 30 or 31 of the previous month so that income is counted for LAST month.

Income for the month to date: $345

Expenses for the month to date: $1816.31

Net effect: -$1471.31

Since the last posting I spent $109.03 on personal and household items, including a bag of cat food for his royal highness. I alternate feedings with dry food in the morning before I leave for work and wet food in the evenings when I come home to balance out his nutritional needs.

I sent off $500 to the Irregular Fund because I will soon need to pay for my classes and put $50 in the Splurge fund as I would like to get some more shirts for work pretty soon.

I paid rent and associated fees and there was an increase in my renters insurance of $0.05!!!!

I paid $325 in snowflake payments to my two personal loans so that I can be done with them in December and start off 2011 with no personal debt. There were only three days to track so far for the month so that is all I have to report now.

I will see you guys and gals later as I continue my journey to save money and become debt free!!!!

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• Tracking My Finances In 2010: February Week 1
• Tracking My Finances In 2010: July Week 1
• Tracking My Finances In 2010: July Week 2
• Tracking My Finances In 2010: June Week 1
• Tracking My Finances In 2009: July 1

On this trip I paid $0.00 out of pocket for $32.75 worth of items. I have not been to CVS for a few weeks because I did not like the selection of things that offered ECBs back and I would not do my regular shopping at CVS because Walmart is lower priced.

I finally saw a few things that I wanted and could give to a friend and the combination of the coupons I had just sweetened the deal for me.

Transaction 1

Item: Cascade dishwasher tabs

Price: $3.99

CVS Extra Care Bucks earned: $1.00

Coupon used: $0.25 MFR

Item: Bounce dryer sheets

Price: $3.99

CVS Extra Care Bucks earned: $1.00

Coupon used: $0.50 MFR

Item: Venus Breeze razor

Price: $9.79

CVS Extra Care Bucks earned: $5.00

Coupon used: $2.00

Item: 2 Antiperspirants

Price: $7.49 each

CVS Extra Care Bucks earned: $2.00

Coupon used: $4 off one antiperspirant MFR

Total coupons used: $8 ECB +$6.75 MFR

Total paid today: $18.63 , on gift card.

Total CVS Extra Care Bucks earned today: $9.00

Total out of pocket to date: $15.84

Gift Card balance : $28.35

Total CVS Extra Care Bucks earned to date: $139.44

CVS Extra Care Bucks Used to date: $130.44

CVS Extra Care Bucks Balance: $9.00

Abbreviations used

MFR = manufacturer coupon

ECB = extra care bucks

Join me next time as I look for more ways to save money as I visit CVS.

Check out my Experiences with LASIK surgery

• How I Save Money At CVS: November 27
• How I Save Money At CVS: 16 August
• How I Save Money At CVS: 7 June 09
• How I Save Money At CVS: 24 May 09
• How I Save Money At CVS: 25 July 2010

Debt management skills are in great demand at the present time, especially for numerous consumers who find themselves buried beneath a mountain of credit card and other unsecured debt. Debt problems such as these can take on a life of their own and grow to nightmarish proportions when not managed appropriately. Beyond the sobering financial consequences they can exact, debt problems can also disrupt the personal lives of those involved and eventually assume “center stage” among their priorities. Before a debt problem has a chance to develop into an issue of this magnitude, consumers are well-advised to seek out possible solutions and to consider them carefully, finding the one that makes the most sense for their particular needs and circumstances. Along the way to finding the right debt solution, they are almost certain to encounter some well-worn myths. It is hoped that in exposing them here, it will help readers to sidestep them and to move on to other solutions that are actually worthy of their consideration. Here are some of the most often repeated myths:

1. A debt management plan (DMP) through a credit counseling agency will help to reduce all your debt payments.

Credit counseling can be a very effective debt solution, especially so when it is paired with a DMP. Enrolling in a DMP reduces interest rates, stops over-limit and late fees, allows a consolidated monthly payment and brings an end to collection phone calls. You can also expect that your credit score will be protected. The actual financial counseling that is part of credit counseling can be invaluable and can provide a fresh perspective to the situation. However there are limits to the benefits that you will receive from a DMP. The most notable of these limits is that only unsecured debt (such as credit cards and personal loans) can be included, so you’ll get no interest rate reductions on your mortgages, auto loans or other secured debt.

2. Refinance your home or take out a home equity line of credit (HELOC) to pay off your high interest unsecured debt at lower rates.

At first glance this may seem like a very attractive option to pursue. You can effectively reduce the interest rates you are paying on your unsecured debt and perhaps even benefit from any tax deductions that may apply to the mortgage-related interest payments. But upon closer scrutiny there are some quite serious drawbacks to this plan. First and foremost, it involves turning your unsecured debt into secured debt. In a worst-case scenario, getting behind with your unsecured debt could only damage your credit. If this debt is instead secured by your home, however, your home is now at risk as well as your credit. You’ve got to be absolutely certain that the increased mortgage or HELOC payment doesn’t pose a risk of this kind to you. Of course if you can refinance at a much lower rate that will keep your payment the same or lower, even with the additional principal, then this becomes an option worth considering. Just keep in mind that qualifying for a mortgage these days is far more difficult than it was just a few years ago.

3. File Chapter 7 bankruptcy, wipe out your debt and just start over.

The bankruptcy laws changed in 2005 with the intention of preventing consumers from abusing the system. There is now a 2-part “means test” that must be passed in order to qualify for a “fresh start” Chapter 7 bankruptcy. Those who don’t pass the test will have to file Chapter 13 instead, which is a court-determined repayment plan lasting for up to 5 years. Bankruptcy has such serious consequences on your credit that if you are going to enter a repayment plan, you would do well to also consider a DMP alongside as another possibility. It will protect your credit score, while bankruptcy will ruin your credit for 7 to 10 years. Even consumers filing bankruptcy must now attend a credit counseling session in the 6 months prior to applying, so you should have ample opportunity to explore the DMP option.

About the Author: Alan Winkler is a writer for RightStartllc’s blog, where he sheds light on the debt relief industry. He provides helpful debt advice and tips and regularly writes educational articles on the various debt solutions out there.

• Five Ways to Save Money For Your Down Payment (Guest Post)
• Manage your mortgage
• Understanding your Debt is the Key to Being Debt Free (Guest Post)
• Biting the Bullet
• LASIK Card Is Paid Off

I have decided to post my weekly spending for the previous week on Fridays so you know how my cash has been flowing for the week. Please note that I get paid on the last day of the month so my cash flow net effect will usually be negative until the last day of the month.

This does not mean that I am adding to my debt, it just means that the money coming in is less than the money going out because bills are due starting on the first but I don’t get paid until the last day.

So again to clarify (since I get so many questions), this shows the cash FLOW for the month. On Day 2 of every month I will have a negative FLOW because I have paid rent etc so money has LEFT my checking account. I have not had any money come in on Day 2 of the current month since I got paid on day 27 or 30 or 31 of the previous month so that income is counted for LAST month.

Income for the month to date: $824.42

Expenses for the month to date: $2380.67

Net effect: -$1556.25

Since the last posting I sent $135 to savings for the month and paid the rest of the bills that were due. I got some money for advertising on the blog and this was a big mood booster to me to see this coming in.

I also received $6.48 from Lending Club, bringing my investment income from there to $17.81 for the month and I will still be funding a new loan next month at a cost of $25. I only got $3.27 from Prosper but since I am moving all my money out that does not bother me.

I will be buying gas tomorrow as I have a trip planned to help a friend move some furniture and I will be getting some groceries on Sunday as well so that should round out the spending for the month, just before I get paid next Tuesday.

I will see you guys and gals later as I continue my journey to save money and become debt free!!!!

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• Tracking My Finances In 2010: March Week 4
• Tracking My Finances In 2010: June Week 4
• Tracking My Finances In 2010: Week 1 January
• Tracking My Finances In 2010: March Week 2
• Tracking My Finances In 2010: July Week 4

So you have finally decided that it’s time to get a new car. There truly is so much to consider when shopping around for the right vehicle. And if you’re like most of us, you have a budget to think about. One of the main factors that will be on your mind is the car’s monthly payment.

You’re looking for a vehicle in your price range, and shopping around for that low interest loan. Right? How much of that budget are you planning to spend to bring the right vehicle home? Well, before you make any decision, be sure to take into account your possible car insurance costs. Finding the right auto insurance policy to match your new purchase will save you plenty of cash and heartache in the long-run. So, what should you consider before making this decision?

Car insurance premiums are heavily based on

• the car’s sticker price,
• the cost to repair it,
• the chances of it being stolen
• and its overall safety record.

Yes, the automobile’s sticker price will directly affect what your car insurance rate will be. If you end up in an accident, it will most likely cost more to repair a new car than an older one. The cost of repairs can greatly increase if the vehicle is an import. Many luxury cars can only be repaired or serviced by dealerships, and the parts most often need to be ordered from overseas factories. Even domestic luxury cars will usually cost more to repair than moderately priced vehicles.

Ironically, one of the main reasons why you have car insurance is also one of the factors that can have the biggest effect on your insurance rates. New cars are more valuable than used ones so they are more likely to be stolen and are considered a higher risk. Auto theft is the most commonly committed crime in the U.S. However, it’s not just expensive or luxury cars that are stolen. In fact, sometimes the entire car isn’t stolen at all – just certain parts are taken. Most of the time, the parts are more valuable than the whole car. It’s more difficult to trace parts than identify a stolen car. Avoid any car that has a high theft rate and/or a bad crash rating no matter how amazing you feel driving it. Many insurers also offer discounts for features that reduce the risk of injuries or theft like daytime running lights and anti-theft devices.

You probably weren’t thinking about how much your auto insurance policy would affect your decision when purchasing a new car. But aren’t you glad to know what to look for? Good luck with finding the right new vehicle for your car insurance.

• Get the facts you need to save hundreds on your auto insurance.
• How Can You Get A Really Cheap Auto Insurance Policy? (Guest Post)
• How I Save Money Visits: 31 March 09
• I Might Have Had my Identity Stolen
• Insurance clarification

If you want to be smart with your money, staying out of debt is critical. Debt comes with interest attached, and paying interest is like paying for the money itself. This is redundant spending.

The conventional home mortgage is the most dramatic example of redundant spending as a result of interest. In a 30 year mortgage, at a 5% interest rate, you’ll likely pay for your home in full almost three times before the end of the loan term. That’s steep.

There are three ways to reduce this redundancy and save money.

• Take out a mortgage with a shorter term or a lower interest rate.
• Pay off your mortgage early by making extra payments.
• Pay more up front with a higher down payment.

These solutions are intuitive. But better mortgage rates and terms aren’t available to everyone, and if you’re taking out a mortgage, your income may not allow for extra payments. The third option—starting off with a higher down payment—is the most effective one. It’s tricky, though. In order to make it work, you’ll need to save up a large sum of money before you even consider looking for a house to buy. Keep the following tips in mind as you save for your down payment.

1. • Identify your goals. Be intentional about your savings plan. Cut unnecessary spending from your budget. Remember, your goal is to buy a home. You won’t be saving up for this forever. During this chapter of your life, eliminate needless spending—such as excessive entertainment or shopping sprees—and put that money toward your future home.
2. • Open a separate savings account. Keep all your down payment money in a single account, separate from your other funds. This will help you avoid spending the money inadvertently, and it will help you track your progress as you save.
3. • Get a second job. Again, saving for a down payment is just a short chapter of your life. It may be draining to take on a second job, but if you’re able to put all your newfound income into your down payment account, you’ll have the amount you need in no time.
4. • Skip vacation for a year or two. A vacation typically costs a family several thousand dollars. Skip vacation for two years or so, and you’ll likely save a sizable amount of money—possibly even 2%5 or 50% of your total down payment.
5. • Start now. Saving money is a slow, steady process. Start as soon as possible, even if you’re only putting away a small amount at a time. Every little bit helps. If you wait until you’re “ready to start saving,” you never will.

About the author: This guest post was provided by Kyle, a content specialist at Lender411.com. Lender411.com helps homebuyers compare mortgage rates, find local lenders, and locate the best mortgage packages available.

• Manage your mortgage
• Changing How I Save Money in My ING Accounts
• What I would do if I Won the Lottery
• Pay off a loan or put money in savings?
• Get an Orange Account

I have decided to post my weekly spending for the previous week on Fridays so you know how my cash has been flowing for the week. Please note that I get paid on the last day of the month so my cash flow net effect will usually be negative until the last day of the month.

This does not mean that I am adding to my debt, it just means that the money coming in is less than the money going out because bills are due starting on the first but I don’t get paid until the last day.

So again to clarify (since I get so many questions), this shows the cash FLOW for the month. On Day 2 of every month I will have a negative FLOW because I have paid rent etc so money has LEFT my checking account. I have not had any money come in on Day 2 of the current month since I got paid on day 27 or 30 or 31 of the previous month so that income is counted for LAST month.

Income for the month to date: $466.10

Expenses for the month to date: $1586.01

Net effect: -$1119.91

Since the last posting I spent $60.98 on two books for my classes, even though we had been told that no books were needed for the course. I am simply taking that money out of the miscellaneous fund because it was obviously not accounted for in my regular budget. Filled up the gas tank to the tune of $20.02 because I went out to celebrate a birthday with my best friend…we also had dinner at my favorite place but I am not including the amount here because that came out of the splurge fund.

I spent $64.07 getting my tires rotated and getting the inspection sticker for my car for the upcoming year. My oil change was ‘free’ since I have lifetime free oil changes from the dealer as long as I come in on their schedule. The dealership is close to my friend’s house so I schedule a visit when my oil change is due and kill two birds with one stone.

Income for the week was $6.47 from Lending Club and $1.77 from Prosper. I only have $33.08 left in Prosper and will not be adding any more funds once the entire loans are paid off. I will continue investing in Lending Club as I can but will only make the minimum loan of $25 per individual.

We go back to work next week but I have about three quarters of a tank of gas left so I am not worried about spending on that before the month ends. I will be going grocery shopping this weekend to restock my fruits and to get some things to make lunches for work in the upcoming days so that should round out the grocery budget for the month.

I will see you guys and gals later as I continue my journey to save money and become debt free!!!!

• Tracking my Finances in 2010: July Week 5
• Tracking My Finances In 2010: March Week 4
• Tracking My Finances In 2010: July Week 3
• Tracking My Finances In 2010: June Week 4
• Tracking My Finances In 2010: April Week 4

I had an interesting conversation with a friend yesterday about one of the ways to save money that has been in the back of my mind for a while but I never acted on it. He was now eligible for a Health Savings Account because of the high deductible and this reminded me that I am also on a high deductible plan and had been thinking of getting a Health Savings Account as well.

I currently have a Flexible Spending Account where money is taken out of my paycheck pre-tax and I can then use that money for qualified medical expenses. The bad thing about the Flexible Spending Account is that you only get to use the money for one year and once that time period runs out then you lose the balance.

The good thing about the Health Savings Account is that there is no expiration date on the money and you can even withdraw it after retirement by paying the ordinary income taxes on it.

I need to do some more research to see what  I will need in order to get my new account started because it will soon be time to change the contributions and other things on insurance now that we are about to start work again next week.

• I Now Have A High Deductible Insurance Plan
• My never go back to Fresno fund
• Dave Ramsey’s Baby Steps: My Take
• Tracking my Finances in 2009: 19 November
• Did I save money in April: day 16

Everyone knows that credit cards can be dangerous… they make it easier to spend beyond our means and rake up high interest debt. According to New York Times bestselling author Dave Ramsey, when people pay with plastic, they spend 12% to 18% more than they would with cash. Now let’s take that concept a step further… if people spend more with credit cards, will they spend even higher amounts if they are getting cash back or points on those purchases?

Well based on personal experience, I would say the answer is yes. My Chase Cash Plus Rewards credit card gives 5% cash back on groceries, gas, and at drugstores. Whenever I’m at CVS, I admit that factor alone sometimes persuades me to buy something I normally wouldn’t. For example today I was at CVS picking up paper towels when it occurred to me I also needed shampoo. Normally, I would never buy my shampoo at CVS (unless it’s on sale) because they charge about $1.50 more than Target does. However today, I was short on time and rationalized the purchase in my head “I’m in a hurry and I’m getting 5% cash back at CVS, so I might as well get it here.” I admit this is really foolish logic – I was paying about $1.50 more to get only $0.25 back. Doesn’t make common sense, now does it?

Of course I was in a hurry, so that was part of the persuasion. But even taking that into account, I know for a fact that the 5% cash back credit card was what ultimately led to my decision. If I only had cash on me, I probably would have done the logical thing and said to myself “I’ll just skip shampooing my hair tonight and I’ll pick some up tomorrow at Target when I have time.”

Now this was just one example involving a dollar or so. Imagine if someone used this logic every day, for every purchase. Because I know for a fact there are people out there like that… they will justify that overpriced snack at the gas station because of the extra cash back they get. They’ll overspend on groceries, because after all, they’re getting 5% cash back so why not spend $100 instead of $80? Sad, but true.

Of course in all fairness, I know there are plenty of people out there who don’t fall for this trap, but if you are someone that does (even if it’s just occasionally) here are three tips to stay out of trouble:

(1) Can you get the item cheaper somewhere else?
Just like my example above about the shampoo, if you find yourself in a similar situation, pause and ask yourself “How much cheaper will this item be if I buy it somewhere else?” Because the items at drugstores that aren’t on sale usually have outrageous markups.

(2) Would you buy that same item if you were paying with cash?
Another “litmus test” to apply to your prospective purchase is whether or not you would buy it if you were paying with cash. Ask yourself “Would I buy this if the only way I could pay would be the cash in my wallet or purse?” If it takes you more than three seconds to think about the answer, then that means you should most likely not buy it!

(3) Should you leave your cash back credit cards at home?
Or maybe yet, just do away with them altogether? The bottom line is if you think they will cause you to overspend, then you would probably be better off not having them in the first place. Even the best cash back credit cards still come with very high APRs, so using them to carry any kind of balance is just shooting yourself in the foot.

About the Author: Michael regularly writes about the pros and cons of cash back credit cards on his blog and message board, CreditCardForum. As a general rule of thumb, he advises consumers to avoid reward cards if they think they will lead to overspending.

• PayPal card…again
• How to make the most of Cash Back Credit Cards this Christmas
• No More Interest For Me
• Make money off your credit card in Three easy steps!
• How I Save Money At CVS: 11 April 2010

I have decided to post my weekly spending for the previous week on Fridays so you know how my cash has been flowing for the week. Please note that I get paid on the last day of the month so my cash flow net effect will usually be negative until the last day of the month.

This does not mean that I am adding to my debt, it just means that the money coming in is less than the money going out because bills are due starting on the first but I don’t get paid until the last day.

So again to clarify (since I get so many questions), this shows the cash FLOW for the month. On Day 2 of every month I will have a negative FLOW because I have paid rent etc so money has LEFT my checking account. I have not had any money come in on Day 2 of the current month since I got paid on day 27 or 30 or 31 of the previous month so that income is counted for LAST month.

Income for the month to date: $457.86

Expenses for the month to date: $1247.91

Net effect: -$790.05

Since the last posting I spent $23.35 including tip to treat a friend to pizza for the weekend and we got three medium pizzas that lasted all weekend. Spending on food for the week amounted to $37.05 and I got some more cherries and pasta meals. Gas cost me $23.34 as I needed to fill up after making a few trips more than I expected and I have $16.27 left on the gas budget for the month.

I got another $3 check from PineCone for doing a little survey, and $4.86 from Lending Club for repaid loans and that went straight into the snowflake fund to pay for debt later on in the month.

I made the final payment on the GE Money card which is the card I used when I got LASIK and then later used to pay for my dental bills when I had my wisdom tooth removed. This card will be at a ZERO balance as of next week when the payment clears. This means I have just gotten rid of another debt and I am totally free of CREDIT CARD DEBT!!!!!

Paid the internet bill to the tune of $50.96 which is less than the budgeted amount of $100. I am keeping the original budgeted amount because I might decide to get cable again or I might upgrade my internet even further, I just have not decided yet and I do not want to tweak that part of the budget.

I will see you guys and gals later as I continue my journey to save money and become debt free!!!!

Make Money with With Text Link Ads On your blog!

• Tracking My Finances In 2010: April Week 2
• Tracking My Finances In 2010: July Week 3
• Tracking My Finances In 2010: Week 1 January
• Tracking my Finances in 2009: 27 May
• Tracking My Finances In 2010: June Week 4

I have written over and over how much I love my ING accounts and now ING has made it even easier to bank. They have introduced the ING Mobile App which lets you access your ING accounts from anywhere with your smartphone.

The app is available for the following phones:

Android

iPhone

Blackberry

so you have no excuse for not knowing what your balance is now. Simply whip out your smartphone and log in to monitor your accounts. If you have an Android phone just search for ING Direct in your marketplace. If you have an iPhone search for ING Direct in iTunes or search for the words in the Blackberry app if you have a Blackberry.

If you don’t have an ING account you need to get one NOW because it is a truly awesome bank….and if you email me now you can get a referral to get a BONUS when you open your account. How sweet is that!!!!!

Get great interest with PayPal

• I got my FREE $125 from Chase!!
• ING Referral Links
• Get an Orange Account
• Tracking my finances in June: day 5
• Save money with online accounts

The first thing about this book is that it is based on the story of the Counter Culture Club, which is a group of young students who were working with an older mentor. The group gleaned a lot of knowledge from this older lady and went on to apply what they learned in their financial lives and ended up being very successful.

The four students came from different backgrounds but the one thing they had in common was that they were not satisfied with their current finances and wanted to do something to change.

Without going into too much detail I can tell you that the book is a medium to hard read in my opinion because it is basically written in simple enough language, yet it deals with higher level concepts at the same time. While the language is simple at times the concepts in the book tend to get a bit technical and it can be a bit overwhelming for those who do not have a background in finance.

The book takes you through various steps in your financial life through the eyes of four young teens who try various things that they can apply to their own lives. They also get some input from store owners and other people who listed to their mentor and can share some of their experiences with the young people.

There are many stories from other young people who worked hard from an early age, saved their money and then went on to invest. They lived like no one else when they were young, so that they could live like no one else when they got older. The book states that you are never to young to start investing and even the smallest amount invested now can grow to be a larger amount in the future.

I think the thing that I liked the most was the places that talked about the basics like:
*having a budget
*creating an emergency fund
*paying yourself first
*paying off your debt

One of the things I did not like (hey this is an honest review) was that the book seemed to be a bit heavy on the Warren Buffet references. I am happy for Warren Buffet and everything that he could achieve but a lot of it was also being in the right place at the right time. Yes he was able to pay other kids to collect golf balls that he later sold at a profit….but not many children have access to a something like that to even show their entrepreneurial spirit. He also invested around the age of 14 but again how many children at that age have that amount of money available and can opt to invest it in stocks.

In general this is a very good book for those of you who are looking for ways to better manage your money and most of the tips are very simple to follow. They do go along with the basic principles that most personal finance bloggers talk about on a daily basis so you can go ahead and pick up your copy of the book to read today.

This book was written by J. Steve Miller and you can find out more about him by visiting www.jstevemiller.com.

Check out my Experiences with LASIK surgery

• Book Giveaway! “Enjoy Your Money! How to Make It, Save It, Invest It and Give It (The Adventures of the Counterculture Club
• Top 5 language related peeves
• How I Save Money Visits: October 23
• Book Meme from Making Money Journal
• Save Money and Save for House too

I have decided to post my weekly spending for the previous week on Fridays so you know how my cash has been flowing for the week. Please note that I get paid on the last day of the month so my cash flow net effect will usually be negative until the last day of the month.

This does not mean that I am adding to my debt, it just means that the money coming in is less than the money going out because bills are due starting on the first but I don’t get paid until the last day.

So again to clarify (since I get so many questions), this shows the cash FLOW for the month. On Day 2 of every month I will have a negative FLOW because I have paid rent etc so money has LEFT my checking account. I have not had any money come in on Day 2 of the current month since I got paid on day 27 or 30 or 31 of the previous month so that income is counted for LAST month.

Income for the month to date: $450.00

Expenses for the month to date: $1023.21

Net effect: -$573.21

Since the last posting I spent $747.05 on rent and other associated costs and got a notice that my rent will remain the same if I renew for another 12 months. I received $450 in advertising which is an excellent way to begin the month with regards to cash flow.

I spent $20.39 on gas and started off the month on a full tank of gas as I am going back to work and will be driving more than last month. I also got a wash at the drive through and since I have increased the monthly maintenance expense to $25 per month I am now going to wash the car every Sunday on my way back from church. I know that $6 in the drive through can add up but I really hate washing the car manually. I consider that $6 to be a convenience fee so that I do not have to get out and hustle to wash the car and I can still have a clean vehicle.

I spent $28.81 on some fresh fruit, bread and other kitchen staples for the week, including milk and eggs, and also paid the cell phone bill and my two personal loans. I have increased the monthly amounts that I make on the two personal loans so that I can finish paying them off in December of this year. I know that they are at 0% interest and I can use my money in other areas to take advantage of the zero interest but I am really ready to be debt free so I want to start off 2011 without those two loans hanging around in my budget.

I went out to eat with coworkers one day this week as part of a team building exercise and spent $11.73 including tip on the meal. It was a really good experience as we got to talk about a lot of different things and spend some quality time just having fun with each other.

I will see you guys and gals later as I continue my journey to save money and become debt free!!!!

• Tracking My Finances In 2010: February Week 1
• Tracking My Finances In 2010: April Week 4
• Tracking my Finances in 2010: September Week 1
• Tracking My Finances In 2009: 2 August
• Tracking My Finances In 2010: March Week 1

Today I paid $0.00 out of pocket for $22.07 worth of items. I really felt that I had to redeem myself after the spending out of pocket the last time I went to the store, so I had my gift card all ready this time.

Transaction 1

Item: Playtex 36 ct tampons

Price: $6.99

CVS Extra Care Bucks earned: $3.00

Item: Playtex 18 ct tampons

Price: $5.29

CVS Extra Care Bucks earned: $0.00

Total coupons used: $5.29 MFR making the 18 ct tampons FREE + $6.99 on 36 ct tampons making them FREE

Item: Venus Breeze shaver set

Price: $9.79

CVS Extra Care Bucks earned: $5.00

Total coupons used: $2 MFR on razor + $5ECB making the razor $2.79

Total paid today: $3.02 , on gift card.

Total CVS Extra Care Bucks earned today: $8.00

Total out of pocket to date: $15.84

Gift Card balance : $46.98

Total CVS Extra Care Bucks earned to date: $130.44

CVS Extra Care Bucks Used to date: $122.44

CVS Extra Care Bucks Balance: $8.00

Abbreviations used

MFR = manufacturer coupon

ECB = extra care bucks

Join me next time as I look for more ways to save money as I visit CVS.

Quality Website Design 3HN Designs.

• How I Save Money At CVS: 25 July 2010
• How I Save Money At CVS: 18 May 2010
• How I Save Money At CVS: November 27
• How I Save Money At CVS: 30 August 2010
• How I Save Money At CVS: 7 June 09

I celebrated a birthday last month and had saved up and created a budget of $345 that I could spend to spoil myself. After being a saver for so long it was really hard for me to find ways to spend the money because I kept feeling that I needed to save it instead.

I forced myself to spend and although it took me two weeks to get all that birthday money spent I finally did it. Here is the breakdown of where the money went.

• $17.41 on books and nail glue
• $27.00 on pedicure
• $256.76 on clothes
• $72.96 on dinner

Grand total of $325.43 spent on my birthday. I cannot believe that I did not even spend the full amount because I thought I was really doing ‘well’. I spent the $17.41 on TWO books and got the nail glue because I ripped a thumb nail down the center and there was no other way to repair it.

I paid $27 for the pedicure, including the tip and although it has been two weeks and my toes still look great, I think that is a lot to spend on one thing.

I ended up spending the $72.96 on two lobster and steak dinners at Red Lobster which I insisted on paying for myself because I was not sure if I would be able to spend the birthday money any other way.

I went clothes shopping on two separate days because I do not like shopping and quickly got bored or frustrated or overwhelmed with the stores the first  time. Day one of shopping I spent $48.70 and got two pairs of pants and one shirt at one store and then I spent $14.39 and got one shirt. Then two weeks later I forced myself to go into a store and get some more clothes for work and spent $144.97 but I think I scored well. I managed to get 8 blouses and jackets for work and partying!!!!!

• Happy Birthday To Me!!!!!!
• Started The Splurge Fund
• Spent $2.25 today
• Save Money By Shopping Outside The Box
• Are you frugal?….or just plain old cheap?

I have decided to post my weekly spending for the previous week on Fridays so you know how my cash has been flowing for the week. Please note that I get paid on the last day of the month so my cash flow net effect will usually be negative until the last day of the month.

This does not mean that I am adding to my debt, it just means that the money coming in is less than the money going out because bills are due starting on the first but I don’t get paid until the last day.

So again to clarify (since I get so many questions), this shows the cash FLOW for the month. On Day 2 of every month I will have a negative FLOW because I have paid rent etc so money has LEFT my checking account. I have not had any money come in on Day 2 of the current month since I got paid on day 27 or 30 or 31 of the previous month so that income is counted for LAST month.

Income for the month to date: $514.80

Expenses for the month to date: $2615.03

Net effect: -$2100.23

Since the last posting I spent $48.38 on food for the week and that was mostly some high end Feta cheese, cappucino mix and fruits. One bag of cherries came in at $5.88 and I got two so there went $10 right of the bat. I love cherries and make about three meals from one bag of cherries but they sure are expensive!

I received $3.27 from Prosper and got $6.55 from Lending Club. The only thing I have left to do is to get gas to fill up the tank on Saturday so I can start the next month with a full tank. I will be getting paid later today and have a few snowflake payments going out on Saturday as well but this month will be  another month where I come out in the black despite all the little expenses here and there.

I will see you guys and gals later as I continue my journey to save money and become debt free!!!!

• Tracking My Finances In 2010: March Week 4
• Tracking My Finances In 2010: August Week 3
• Tracking My Finances In 2010: June Week 4
• Tracking my Finances in 2009: 21 May
• Tracking My Finances In 2010: April Week 4

One of the ways to save money that I find is simple is to line dry my clothes. I live in an apartment without a balcony so I bought a folding drying rack.

I simply put the clothes in the washer and then when they are done I hand them on the drying rack in the second bedroom. The windows are open during the day so fresh air and sunlight come pouring in. The clothes dry in a few hours and I save money from not using the drier.

It is especially great now because now that I am home for most days during the summer I can do laundry in the morning and the clothes are dry by afternoon. I really wish I could dry the clothes in the sun so they get that wonderful sun dried scent but that will have to wait until I have a house.

I am going to continue hanging my clothes out to take full advantage of this super hot weather because it will be too cold and damp to do that once winter comes around.

• Save Money by Air Drying Your Laundry
• Line Dried Clothes To Save Money
• Tracking My Finances In September: Day 16
• Air Drying Laundry
• Tracking my Finances in October: Day 19

Debt Consolidation Care offers an online budgeting application that helps you in planning a budget effectively. You can use this software to plan your monthly as well as quarterly budget.

Personal Budgeting Application is simple and easy to use. It’s a 4 step process –

Income,

Budget,

Expenses and

Report.

At first, you need to fill out the respective fields regarding your income. Then, you need to plan a budget according to your needs. In the ‘Expenses’ section, you should fill out your actual expenses. By doing this, you can compare at the end of the month, what you’ve allocated and what you’ve actually spent. This is what the ‘Report’ section helps you to analyze.

To use the software, you simply need to click on the respective fields and fill out by giving out certain information (such as, your transportation expense, housing expense, etc.) By doing so, you can calculate your total monthly income and expenditure that helps you to plan a budget. One of the most useful features of this application is that there are various fields that help you in allocating your monthly budget, however small it may be.

By clicking on the ‘Report’ section of the personal budgeting software, you can review whether or not you’re able to save a certain amount every month. In addition to this, you can also compare your budget with that of the community. It helps you to assess the similarities and differences of your budget with that of other community members. By doing so, you can make changes to your budget as required.

Budgeting is really important. Without a proper budget, you won’t be able to manage your finances effectively. Everyone has to plan an effective budget regardless of whether or not he/she is earning hundreds or thousands of dollars each month. Budget helps you achieve your short term as well as your long term financial goals. This is because budgeting helps you to assess how you’re spending your income. In turn, you can cut down your expenses if you have to spend more on other items. If required, you can also plan a budget that can help you in your frugal living or to pay off your debts.

It can be said that with budgeting you can plan your savings and invest it whenever required. In this regard, it requires a mention that you should plan a realistic budget as otherwise you’ll not be able to follow it. So, you should take help of such personal budgeting software that helps you in allocating your income to micro-expenses. Debt Consolidation Care (DebtCC) website offers such a budgeting application with the help of which you can plan a realistic monthly budget.
It can be said that personal budgeting software is the perfect solution to manage your finances. By using this software, you can organize your cash flow. Moreover, the easy-to- understand graphs enable you to visualize and thus analyze your expenses on a month-to-month basis. This in turn, helps track your progress and you can understand where you need to improve in order to manage your finances in a better way.

You can use the Personal Budgeting Software developed by Debt Consolidation Care Community as many times as you want absolutely free of cost. However, you’ll have to become a registered member if you want to save your data and maintain a record. Otherwise, your old data would not be saved. So, if you become a registered member, you can save your data and in turn, calculate your progress over the months.

It can also be said that this Personal Budgeting Application helps you in your calculations. You don’t have to perform the required calculations in your excel sheet. Moreover, you can just input the relevant data and make changes to your budget plan as and when required.

Debt Consolidation Care is an online community where people struggling to pay off debts, can get suggestions from industry experts. The community offers free consultation and solutions in order to help you pay off your debts effectively in the best possible way. You can simply post your queries in the forums and the community experts would offer suitable suggestions to get out of your debt problems. Even if you’re not experiencing any debt problems, you can go through the various topics that in turn would make you knowledgeable and help you avoid debt problems in future.

You don’t have to be a member to get suggestions from the industry experts. However, if you’re an industry expert yourself, you can join and help others to overcome their debt problems as well. Debt Consolidation Care is an online community where common people can get debt advice as well as industry experts can earn dollars by posting in the forums. By participating in the forums, you can also get ranks such as, Debt Samaritan, Moderator and Hall of Fame.

• Tracking my Finances in October: Day 2
• Be A Better Blogger with Dragon Naturally Speaking 10!
• Tracking My Finances In 2009: November Recap
• Tracking My Finances In May: Day 26
• Tracking My Finances in April: Day 19

Today I paid $15.84 out of pocket for $42.27 worth of items. At first it looks like a good deal but I am mad at myself for two reasons. The first is that I was trying to not spend ANY money out of pocket and simply rely on the gift cards that I got from one of my cash back cards. The second reason is that I could have spent a lot LESS if I had broken this into two transactions, instead of being lazy and just doing one big one.

Transaction 1

Item: 2 Arm and Hammer laundry detergent (will be giving to a friend)

Price: $7 for 2 (used $1 MFR)

CVS Extra Care Bucks earned: $2.00

Item: Dove deodorant/antiperspirant

Price: $12 for 2

CVS Extra Care Bucks earned: $4.00

Item: Kotex liners 60 count (the 18 ct and 50 ct were all the same price so I got the box with MORE)

Price: $4.99

CVS Extra Care Bucks earned: $4.99…FREE item!!!!!!!!!

Item: Venus razor set

Price: $9.99

CVS Extra Care Bucks earned: $0

Item: Oil of Olay body wash with ribbons

Price: $8.29 but got this FREE for buying the razor above

CVS Extra Care Bucks earned: $1 for using my reusable bag

Total coupons used: $3 MFR + $7.99 ECB

Total paid today: $8.31 , on gift card + $15.84 on credit card.

Total CVS Extra Care Bucks earned today: $11.99

Total out of pocket to date: $15.84

Gift Card balance : $50.00 (got a new gift card that I could have used but for poor planning)

Total CVS Extra Care Bucks earned to date: $122.44

CVS Extra Care Bucks Used to date: $110.45

CVS Extra Care Bucks Balance: $11.99

Abbreviations used

MFR = manufacturer coupon

ECB = extra care bucks

Join me next time as I look for more ways to save money as I visit CVS.

• How I Save Money At CVS: 3 August 2010
• How I Save Money At CVS: 18 May 2010
• How I Save Money At CVS: November 27
• How I Save Money At CVS: 24 May 09
• How I Save Money At CVS: 30 August 2010