How I Save Money.net

The Downsides of Debt Settlement (Guest Post)

LuLuGal — Mon, 22 Mar 2010 11:05:36 +0000

To a person that is heavily in debt, debt settlement sounds like a dream come true. Debt settlement companies can negotiate a reduced one time payment of between 30% – 70% on your debt and your credit report reads that your debts are completely settled (although, your late payments will remain on the report). The thought of paying half of your actually owe would get any debtor salivating. As amazing as this all sounds, there are some problems with debt settlement.

The main issue of debt settlement is not the process itself. The real problem more often lies with the companies that provide the services. First of all, there are no standard industry fees. Some companies charge based on the debt before the balance is reduced, some charge a percentage of your actual savings. There are also monthly management fees that are tacked on to all of this. These management fees can sometimes be so large that it can take a year before your monthly fee is applied to the debt you owe. At first your monthly payment just goes to paying the settlement company. As time goes on the fee begins to pay off your actual debt. This can take some time, depending on the amount you owe.

The problem is that for the layperson, this can be very confusing. Many of their customers don’t fully understand the terms that they are agreeing to. They can be so desperate to get rid of their debt and start fresh, that they might just go with the first company that offers them help. But, there are big differences between debt settlement companies and the types of fees that they charge. If you consider debt settlement, shop around. Do your homework and make sure you understand what fees you will be responsible for.
Here are some upsides and some downsides to working with these companies.

The downsides are:

1) You can get sued. Not all creditors will happily work with debt settlement companies. So before they have agreed to a reduced payment, there is the possibility of getting sued by your creditor.

2) You might not qualify. Creditors will most likely not negotiate your debt if your are still current on your payments. Usually the cutoff is around 6 months of non-payment. They don’t have the incentive to negotiate unless it looks like you might go bankrupt.

3) You get taxed on the amount of debt that is forgiven! The reduction in payment is a taxable event, so you are liable to pay 15% of the reduction. This is not the case if your debt is greater than the amount of your assets.

4) Debt settlement advisors work on commission. This might influence them to be less than honest with you than they should be to get the sale.

5) Do it yourself debt settlement is possible.You might be able to do for free, what the debt settlement companies will charge you for.

The upsides are:

1) You can realistically negotiate your debt down 25% – 70%. If you are far behind on your payments, your creditor will want you to avoid bankruptcy. They can give you a big break on you payments if they know that you really can’t afford to pay the entire balance.

2)The creditor wants to avoid the hassles of bankruptcy, and you on the other hand get a reduced payment. Bankruptcy is very serious and can affect your ability to get credit, rent an apartment, or even get a job. So if you can avoid going BK, it might be worth it.

3)You have someone to walk you through the process. Its not always easy to understand the terms and fine print. If you can find a company that you trust, they can help you move along with the process.

Hopefully this will give you a little background on the debt settlement process and you can choose whether or not its right for you. There are many different companies with different types of fees and ethics. Arm yourself with knowledge before you sign on the dotted line.

*About the author: This is a guest post by Garrett Driscoll from Debt Eagle. Visit debt eagle if you need help with credit card debt. Garrett discusses topics like debt consolidation, debt settlement and credit counseling on the debt eagle blog.

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Tracking My Finances In 2010: March Week 3

LuLuGal — Fri, 19 Mar 2010 11:13:46 +0000

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: $371.05

Expenses for the month to date: $2549.51

Net effect: -$2178.46

Since the last posting I received $3 from Pinecone from taking a survey and will be adding that to the snowflake account in ING. I spent $8.11 on some items for my hair at CVS and this was separate from the transactions that I normally do when using my ECBs.

I spent $40.90 on food which was mostly yogurt, milk and silk and I also got some bread. I used $2.75 in coupons and since I only bought one newspaper this month I am now at a net of -$0.25 on my coupon haul. This means I need to redeem at least one $0.25 coupon this month to recover the cost of buying the paper.

I made the second half of the car payment and sent a huge payment off to the last credit card that is carrying a balance that is not at zero percent. The only other credit card that is carrying a balance is the card that I used when I got LASIK and then paid off and then used again for my dental surgery.

I made some more tweaks to the zero based budget and will try not to fuss with my accounts too much in the next month. I constantly mess with the way things are set up because I will have an idea to do something and will jump into ING to set up a sub account or set up a transfer. I guess it will never be truly perfect the way I want it so that is why I keep changing things around.

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

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Accounting Degree’s Top 75 Frugal Blogs

LuLuGal — Wed, 17 Mar 2010 11:23:06 +0000

Accounting Degree came out with a list of 75 Frugal Blogs That Will Change Your Life and I am proud to say that this blog made the list. It is a very good list with a number of blogs I have heard of before and few that I do not know about…yet.

Each blog listing has a short description of what the site is about so you get a little preview before you head over to check it out.

There are some great reads out there so be sure to check out a few of the other honorable mentions listed in the post and I am sure that you will find some great ways to save money.

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The Easiest Way To Save Is To Automate

LuLuGal — Mon, 15 Mar 2010 11:39:29 +0000

I know that many people say they cannot find ways to save money for a number of reasons. I think that while saving may be difficult at times the only way to really get started is to automate your savings.

Think about the way that most people budget. They set aside money to pay bills and then if there is money left over at the end of the month then they put that into savings. This is the wrong way to do it as you will never be able to build up a savings base as there will usually be something that prevents money from being left over at the end of the month.

Instead of trying to save what is left over at the end of the month I make my savings come out the same way that my other bills come out of my account. Since I use ING as my main bank I have my salary direct deposited to that account. I then have an automatic transfer set up at the beginning of the month that takes my savings amount to a sub account in ING.

It is all done automatically and I don’t have to worry about whether it gets done or not. I have no excuse for not saving because ING does all the work for me. The only reason the savings would go down is if I raid the savings account to use the money to pay for something.

I build my budget based on what is left and that works well for me.

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How I Save Money At CVS: 10 March 2010

LuLuGal — Sun, 14 Mar 2010 11:46:30 +0000

Today I paid $0.00 out of pocket for $16.00 worth of items. I only did one transaction and just got two items that I really wanted and then walked out of the store without getting anything else. I am having some problem with the computer and could not get the images to post so sorry about that.

Transaction 1

Item: 2 Vaseline sheer infusion lotions

Price: $6.00 each

CVS Extra Care Bucks earned: $4.00 for buying two lotions

Item: Oral B toothbrush

Price: $4.00

CVS Extra Care Bucks earned: $4.00 making this FREE

Total coupons used: $13.50 ECB

Total paid today: $2.71 , on gift card.

Total CVS Extra Care Bucks earned today: $8.00

Total out of pocket to date: $0.00

Gift Card balance : $24.14

Total CVS Extra Care Bucks earned to date: $43.00

CVS Extra Care Bucks Used to date: $35.00

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.

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Tracking My Finances In 2010: March Week 2

LuLuGal — Fri, 12 Mar 2010 11:08:29 +0000

Income for the month to date: $293.05

Expenses for the month to date: $2177.16

Net effect: -$1884.11

Since the last posting I received $3.39 from Lending Club loans that have been repaid as income for the week and I am pleased to say that my loans are now being repaid on time. I also received $28 from advertising and that is being sent into the snowflake account to be paid to credit card debt at the end of the month.

I spent $22.22 on food for the week, which was mainly bread and fruit and bought a newspaper for $3.00 to refresh my coupon base. This time around I am thinking of only buying the first newspaper of the month which contains three different types of inserts to get the best value and to see how little I can spend on coupons to get the biggest return.

I only have $7.43 left in the ‘household’ budget but I think I should be able to make it without needing to buy any cleaning supplies or things of that sort until the end of the month.

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

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Getting Out Of Debt Is About The Mind NOT The Money

LuLuGal — Mon, 08 Mar 2010 11:44:25 +0000

This post was inspired by The Gradual Shift, written by Trent at The Simple Dollar. I think that many people think they cannot get out of debt because they simply do not have the finances available, instead of thinking about making the mental change that will help them to find the money.

I know that when I first started blogging and looking at ways to save money so that I could pay my credit cards, I thought I would never be able to get there on my small teacher’s salary. I had a lot of debts ranging from my student loan to my car to my credit cards that it seemed I was just paying and paying and nothing was happening.

I went on in this crazy mindset for a few years….and then I discovered the world of Personal Finance blogging. Although I have always followed a budget and ALWAYS paid all my bills on time I was really struggling with having enough money to eat. At one time in college I even returned my vacuum cleaner to get cash to buy bread. Sad, I know, but it was what I felt I needed to do at the time.

image from http://www.soulculture.co.uk/wp-content/uploads/2009/12/mind-on-my-money.jpg

When I started blogging and posting my spending I began to REALLY focus on my income and my expenses. I created a zero based budget and started to apply the snowball method to getting rid of my debts. I tracked all my spending and income on an Excel spreadsheet and later moved to Google docs so that I could have access to it from anywhere.

I picked one credit card that did not carry a balance but which would earn me cash back on purchases. I put every bill I could think of on that card and then put all my purchases on it as well. I used ING to pay the credit card so that I would never have late payments or even have to think about when the payment would be due.

Over time, these strategies paid off and I have significantly less debt than I did before and I keep tweaking my budget so that I can cut expenses. I started to pay the minimum (well slightly above the minimum) on all my debts and then send any extra money over to one targeted debt as a form of the debt payoff snowball. After this, I sent any extra money to that debt as well in the form of snowflakes so that I could get rid of that debt even faster.

I actually used different versions of the debt snowball method at different times as I started with the smallest debt first and then when that was paid off I moved on to the highest interest debt….then switched again. Most people argue over which is the true snowball but I think the essence of the snowball is that you pay the minimum on everything except ONE debt and pay extra on that one target. When the target is paid off then you apply what you were paying plus any extra to a different target until that one gone too.

I think that you can choose smallest debt or highest interest first as long as you pick one thing and stick to it. I chose to change my snowball the second time around but that was for personal reasons and that is the great thing about personal finance…you tailor it to fit YOUR circumstances and do what works for you.

My salary has not increased significantly but I have made a huge dent in my debt and all through changing my MIND and making my money work for me instead of crying about what my money cannot do for me.

So today I urge you to Ask not what a dollar can do for you but what you CAN do with a dollar.

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Easy Sign Up For Lending Club

LuLuGal — Fri, 05 Mar 2010 21:42:31 +0000

I wrote about my experiences with using Lending Club to pay off debt in the past. I am also a lender on the site and must say that although I am not getting the highest interest rate returns, my loans are doing well.

I am happy to announce that I now have a new way for you to join Lending Club, instead of emailing me for a referral every time (although you can still do that if you prefer!!!)

At the very top of the site in the middle block you can see two banners for Lending Club. The one on the left lets you become a borrower and get great rates on an online loan to consolidate debt.

The one on the right lets you join as a lender and invest your money in something that not only gets you a great interest rate return but also lets you help someone out. If you are looking for ways on how to invest money online then you might want to check out those two options.

Disclosure: These are associate referrals so I will be getting compensated if you use those links, just like I would if you got a referral email from me.

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Tracking My Finances In 2010: March Week 1

LuLuGal — Fri, 05 Mar 2010 11:25:14 +0000

Income for the month to date: $261.66

Expenses for the month to date: $1276.43

Net effect: -$1014.77

Since the last posting I have paid rent and all associated expenses, as well as paying off the personal loans. I paid the cell phone bill and sent $7 off to my Ally savings account, which is an account that I can no longer touch.

Income so far consists of $250 from advertising and it is refreshing to see this money flow in. I will be putting $200 directly towards a snowflake payment on a credit card and by the looks of it if things keep going the way they have been I will be able to pay off that card even sooner than I originally planned. In any case, I should be free of credit card debt by the end of the year 2010!!!!!

I recieved $6.80 from Prosper from loans that are being repaid there and also got $4.86 from the loans that I made on Lending Club. This means an extra $10 to go into the snowflake fund to go towards credit card debt for the month.

I spent $28.22 on food which included two boxes of my crab cakes and a box of strawberries. I spent $31.02 on personal and body items, including two books….which I know I should not have bought because I am supposed to be focusing on essential spending this month. I spent $54.47 on household items and almost half of that was for a new set of 8 rechargeable batteries to replace the ones that I have been using for about three years now. Those batteries no longer hold a charge like they used to and I am currently having to replace the ones in my wireless mouse about every four days. I am going to get rid of all the old rechargeable batteries and replace all batteries with these new ones.

I have also sent off the first half of the car payment and will be sending the other payment via ING in two weeks.

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

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I Cut The Cable And Unplugged The TV To Save Money!!!

LuLuGal — Wed, 03 Mar 2010 11:30:43 +0000

A few months ago I wrote that one of the ways to save money in my life was to unplug the television but I morphed into a Frugal Fraud and did not follow through with it. Well on Sunday this week I noticed that I had not watched television for the last two weeks for a number of reasons. The biggest reason was that I watch my favorite shows online through Hulu or directly from the website that hosts the show.

The second reason I have not watched television is that I have been VERY busy with work and school and then when I had some downtime I was sick and television was the last thing on my mind.

image from http://img.photobucket.com/albums/v418/bawanaal/tv-unplugged.jpg

Another reason I have not watched television is because the set is in the living room and I have been too lazy to unplug the space heater from the bedroom and carry it into the living room. I have not put on the central heating due to the sky high electric bills of the last two months so there was no heat in the living room and that also made it uncomfortable for me to stay there.

I decided to go ahead and see if I could just live without the cable subscription like a lot of other personal finance bloggers do. I took a deep breath and called up the cable company to see what I could do.

They said they did not have a holding plan but I could go ahead and disconnect and then get a reduction on the reconnection fee when I did decide to get the cable back. The reduced reconnection fee is $20 less than the monthly cable bill so it is not too bad when I really think about it.

I plan on leaving the cable off until school closes in May and things settle down a little bit. I will still have my online classes to deal with but I will not be at work all day long, so I should have some more free time when I can really appreciate the television.

While I will not be paying the cable portion of the bill for the next few months, I will not be editing my zero based budget but will simply shift the dollar amount over as a snowflake payment to a credit card.

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5 Ways To Spoil Yourself While On A Budget

LuLuGal — Mon, 01 Mar 2010 11:30:48 +0000

When most people think of the word budget they immediately think of deprivation and having no fun. They look at a budget as a restriction on their current life, instead of a plan for spending that allows you to have better life in the future.

I love budgeting because it allows me to allocate money to various wants and needs and still lets me have fun because I know that I can cover my fun purchases.

Here is a list of 5 ways that you can spoil yourself while keeping your budget in check.

1. Sleep In. At least five days a week we get up early and begin the rush to get ready for work. For those of us who have the luxury of a weekend off, why not take one day and sleep in for a little bit.

image from media-cdn.tripadvisor.com

2. Home Spa. You do not need to go an expensive spa to get some rest and relaxation after a hard day at work. Take a look around your home and I am sure that you can find a few things to give yourself some pampering right in your closets. Break out that bubble bath that you got as a Christmas gift and light up those candles that your coworker gave you.

3. Me time. You might be the person who is always doing for everyone else. Why not take some time to pamper yourself? Get yourself away from the computer and the telephone and all the other demands in your life. Take some time to reflect on why YOU are special to you and relax your mind.

4. Be the guest. You have been saving those nice towels and sheets for when you have guests and they are just languishing in the linen closet. Take some time out to make your bed once in a while with those nice sheets and use that fancy soap for yourself. You will feel better just from using something that you do not normally use on a regular basis.

5. Get flowers. You can buy a low priced bouquet at a store like Walmart and instantly glam up your home. You don’t have to spend a lot to get a great look and flowers give you a great emotional boost from just looking at them.

Those are five simple ways that you can spoil yourself without breaking your budget so try one today.

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Monthly Financial Update: February 2010

LuLuGal — Sat, 27 Feb 2010 22:09:57 +0000

I am proud to say that I came out in the black again this February to the tune of $362.23, despite all the extra spending and debt payoffs for the month.. It could have been higher but I sent an extra snowflake payment of $555 to a credit card on top of the payment that I normally make.

We got paid yesterday and my Adsense also hit the account so despite going to the grocery store for some last minute spending at the end of the month I was able to stay in the positive figures.

I was able to do this because I got in some unexpected money from various sources and decided to apply it to debt repayment so that I could be free of credit card debt as soon as possible. Having credit card debt makes me feel dirty (like a frugal fraud) so I really want to get rid of it, even if it means that I only have $200 in savings.

I stayed well below the gas budget for the month and have $40 left to get gas but I am not even at a quarter tank as yet so I will not be buying gas this weekend.

I went over the electric budget for the month but I think that this horrible weather is to blame for that. We have had much more snow in the last few weeks than this place has seen in years!!!!

My No Spend Month did not go well at all since I did end up spending on non-essentials like a shirt for work. I think that the case with me is that when I talk about something like that I end up sabotaging myself. So for next month (March) I will ‘not’ be having a no spend month….I will just do it and see what happens.

I spent a total of $3 on coupons for the month but redeemed $21.47 so I had a profit of $18.47 for the month on coupons. This brings my spending and redemption of coupons to the following total for the year:

Total spent on coupons: $9.00

Total coupons redeemed: $30.47

Profit on coupons: $21.47

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Tracking My Finances In 2010: February Week 4

LuLuGal — Fri, 26 Feb 2010 17:53:51 +0000

Income for the month to date: $190.45

Expenses for the month to date: $2582.01

Net effect: -$2391.56

Since the last posting I have received $3.24 from loan repayments from Lending Club. I also received $125 from various forms of advertising on the blog and I will be putting $75 of that towards a snowflake payment to the credit card debt next month. The remaining $50 will go towards my savings to restart my emergency fund.

I have also ‘paid’ $99 into savings for the month because I treat my savings as a bill to make sure that my zero based budget works well. I need to revise the budget to get one more dollar in there so that I can save a nice round $100 a month but that will come later.

I ‘paid’ $70 for car insurance this month and have also accounted for that. I actually pay the full premium every six months but account for it in the monthly budget. I am thinking of revising this and sending the monthly amount to the Car sub account in ING and then doing a miscellaneous transfer when the insurance is due, just to keep it current.

I spent $6 going through the drive through to get the car washed. Hey it is COLD after a bird SHAT on the car the day after it was washed clean by all the snow. I really hate when that happens!

I spent $9.50 (original price $45!!!!!) on a shirt for work from the clearance rack at a store in town. I will have to transfer that money from the Splurge Fund back into checking to cover the amount spent as it was not part of the regular budget for the month.

I still have to go get a few food items like fruits and bread and I also want to check the clearance racks to see if I get another shirt for work.

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

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6 New Credit Card Rules

LuLuGal — Mon, 22 Feb 2010 23:45:52 +0000

So today February 22, 2010 the new rules for credit cards went into effect. What does this mean for you? Well in general the new rules help to protect customers better and should help you to pay down your debts even faster.

1. No New Rates On Old Debts

The credit card companies cannot raise the interest rates on existing debts that you racked up before the new rules pass. This means that your rate will stay the same or go down if you get lucky, as long as you pay on time. The exception to this rule is that if your payment is more than 60 days late they CAN raise the rate.

Lesson: Pay on time EVERY time.

2. No Lowest Interest Payments First

The credit card company must apply payments in the order of highest interest rate first. This means if you have one balance of $500 at 2% interest and another balance of $650 at 21% interest then the payment is applied to the $650 first, because it has the highest interest rate. This means you will be paying off the higher interest debt first,which is one way to work a debt snowball payoff.

Lesson: The more you pay the more you save.

3. No More Universal Default

In the past, if you paid late on your Discover card then Chase (just for example) could raise your interest rates, and so could Capital One. This was called Universal default and meant you were messed up all across the board. With the new credit card rules this can no longer happen. The only card that can raise your rates as a result of you being late is the card that you were late on.

Lesson: Do not pay late.

4. No More Automatic Over Limit Fees

In the past most credit cards would allow you to over the limit but would charge a fee and higher interest rate for the ‘convenience’ of allowing your purchases to go through. Now you have to opt in, in WRITING to the card company to let them know if you want this. Of course it now means that your card will be declined if you try to go over the limit.

Lesson: Do not go over your limit.

5. Detailed Bills And Debt Payoff Estimates

Now the credit card companies need to provide you with more details about how long it will take to pay off your debt. This includes a section that details how many months it will take to pay off the card if you only pay the minimum amount and how much interest you will end up paying.

Lesson: Pay more now to save more later.

6. No More Kiddie Credit Cards

Children under the age of 21 will no longer be allowed to open credit cards in their name unless they have one of the following:
proof of income or
an adult cosigner

This is a way to protect the youth from racking up too much under the belief that someone else will take the full responsibility. If the child has to show income he or she may think twice and if you have to cosign for the card then you are more likely to teach careful spending habits because their actions will affect your credit score.

Lesson: Teach your young ones good credit habits from an early age.

I think that in general the new rules will help a lot of people find ways to save money, mainly because of the savings in the interest payments over the years. I plan on being credit card debt free in 2010 so I will not have to worry about these changes for much longer.

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Tracking My Finances In 2010: February Week 3

LuLuGal — Fri, 19 Feb 2010 11:52:54 +0000

Income for the month to date: $65.45

Expenses for the month to date: $2293.90

Net effect: -$2228.45

Since the last posting I received a $10 Walmart gift card from redeeming some points so that is being added to the grocery budget for the month. I also got $3.68 from Lending Club loans that have been repaid and I am very grateful for the people who are repaying their loans.

I redeemed $11.25 in coupons, bringing my total redemption for the month to $16.69 after only spending $3 on the newspaper for the month. This is an excellent return of $13.69 for the month from the use of coupons.

I spent $52.13 on food this week and this included three boxes of mini quiche and three boxes of crab cakes that I have for breakfast as part of my meal plan for the week. I also got two boxes of strawberries and since one box normally lasts one week then I should not need to buy any strawberries next week.

I bought $19.89 worth of gas because I was at about a quarter tank and was preparing for a trip to visit friends this weekend but I think I might pass on that. I also sent off the second half of the car payment and paid an additional $555 on the last credit card that has a balance. Doing this has caused the payoff date to move up to October 2010, when it was previously at December 2010.

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

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What I Am Giving Up For Lent 2010

LuLuGal — Thu, 18 Feb 2010 11:01:07 +0000

So Lent has begun and for us Catholics it is a time to really reflect on our lives and in order to do this we make a sacrifice by giving something up. I once gave up red meat and juice for Lent but that was a bit too easy after a while as I rarely eat red meat to this day. This year I have decided to give up sweets and desserts because that is a lot harder for me right now.

I thought about some other things I could give up like:

Going to CVS
Watching television
Buying new clothes

but came up with a roadblock for each of those things. I do not go to CVS every Sunday any more so giving up a twice a week habit did not seem like much of a sacrifice.

I only watch my actual television on Mondays and then get my shows from Hulu during the rest of the week. Since I am taking this online class I allow myself to watch a show after I am done with my coursework for the day and even then I only spend about one hour a day watching stuff like CSI or House.

I am *cough* in between sizes right now as I am trying to lose 10 lbs and I am not a girly girl so I have not been interested in buying clothes or shoes…although I will go crazy for scented candles and body splashes!!!!

I decided to give up sweets and desserts because lately I have become really close friends with two guys by the name of Ben and Jerry. They seem to be related because they share the last name of TripleCaramelFudge (odd name, must be foreign!!!!) and they have been visiting me about twice a week.

I also started a friendship with Sara Lee Cheesecake and she comes around when Ben and Jerry are busy. So in all I have been eating some form of dessert every other day and that is ruining my weight loss goals as well as my health, despite eating more fruits and vegetables every day.

I know that it may seem a bit trivial to you but the sacrifice is about something that you always do and that you need to cut back on so that you can see a noticeable difference in your life. This is not only one of the ways to save money that I am always talking about but it is also good for my health because I will be eating less processed food and refined sugars.

I will be saving money because I will not be buying junk food just to have something to eat, when there is yogurt or fruit in the house. It will also help with my weight loss because my calories will be coming from better food that is not instantly converted to fat.

So for Lent I will be giving up my BFFs Ben, Jerry and Sara, and all their relatives like ‘Big Red’ so that I can come out healthier in both spirit and body at the other side of Lent.

What are you giving up as your Lenten sacrifice this year?

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Trimming My Budget: Food

LuLuGal — Wed, 17 Feb 2010 11:06:56 +0000

I have some potatoes in the fridge and have no idea when I bought them. I have a box of butternut squash that I bought at the beginning of December LAST YEAR in preparation for removing my wisdom tooth that still has not been eaten.

I have also gone grocery shopping EVERY Sunday this year….so why am I buying more food when I still have food left from last year? Part of the reason is boredom with what I eat. I have particular tastes so I tend to buy what I like and buy it in bulk. This means that I end up eating the same things over and over and quickly become bored…so I buy something new.

Lather, Rinse and Repeat.

I know that the only thing I need to get on a weekly basis is fresh fruit so I have to really work on eating what I have in boxes and cans before buying perishables like potatoes (which might be growing in the fridge right now). It has been a long while since I got some coupons for food that I buy all the time. I think the last one was the coupon for Carnation evaporated milk that made it cheaper than the Great Value milk I normally get.

I have been getting coupons for yogurt and I love that since I eat a yogurt every other day as part of my meal plan. I used to see coupons for the Gorton’s bagged shrimp that I use but those have been really rare lately.

I am going to revise my meal plan to include the things I have in the pantry now…like rice (which I don’t really like) so that I can clear out all the food in the pantry before I buy anything else.

Make Money Online with Deal Barbie.

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How I Save Money At CVS: Valentines Day 2010

LuLuGal — Sun, 14 Feb 2010 21:42:13 +0000

Today I paid $0.00 out of pocket for $29.98 worth of items. Today is Valentine’s Day but the deals at CVS were not all that great in my mind. I only got three items that I really wanted and was not impressed by the rest of the selections. I made a purchase last week that I forgot to post so transaction 1 will be last week and transaction 2 will be this week.

Since my gift card balance is now so low and I made a pledge to not spend out of pocket at CVS this year I will have to find a way to generate another gift card so that I can continue shopping there.

Transaction 1

Item: Vaseline lotion

Price: $4.99

CVS Extra Care Bucks earned: $0.00

Total coupons used: $$4.99 MFR

Transaction 2

Item: Glade soy candle and Glade reed diffuser (I am addicted to things that smell nice)

Price: $6 each

CVS Extra Care Bucks earned: $4.00

Item: Crest rinse

Price: $3.50

CVS Extra Care Bucks earned: $3.50 making this FREE

Item: Neutrogena deep conditioner and leave in conditioner

Price: $6.99 and $7.49

CVS Extra Care Bucks earned: $5.00

Total coupons used: $3.00 off 2 Glade items MFR + $3.00 off any Glade CVS + $1 off Crest MFR + $1 ECB

Total paid today: $21.98 , on gift card.

Total CVS Extra Care Bucks earned today: $13.50

Total out of pocket to date: $0.00

Gift Card balance : $26.85

Total CVS Extra Care Bucks earned to date: $35.00

CVS Extra Care Bucks Used to date: $21.50

CVS Extra Care Bucks Balance: $13.50

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.

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6 Ways To Save This Valentine’s Day (Guest Post)

LuLuGal — Sat, 13 Feb 2010 11:03:12 +0000

An expression of love for one’s significant other is a deeply personal thing. Or at least it used to be. Now it’s an industry but that doesn’t mean you have to break the bank to do something special for that someone special. Here are some easy, affordable ways to say I love you.

Buy A Plant

Buying cut flowers from a plant store is highway robbery in the month of February so consider buying your Valentine a plant instead. Daffodils, Tulips, Orchids, Forget-Me-Nots and Lavender all symbolize love. Plus they last longer than roses and are a fraction of the cost. Why should a symbol of one’s undying love be dead or dying a week after it’s bestowed?
Make Your Own Card

This approach requires a bit more effort than scanning the card rack at the pharmacy but a homemade card is guaranteed to say exactly what you want to say, the way you want to say it. What better way to say he/she is special than with a unique, one of a kind card?

Homemade Gift Certificates

These can take the form of I.O.U’s and can be made out for anything you can think of to make your Valentine’s life a little easier. A week of massages, a promise to clean out the garage, picking the kid’s up from school, breakfast in bed and so on. With these small promises, a little goes a long way.

Dinner At Home

Everyone loves a romantic, candlelit dinner at a posh restaurant, which is why most eateries have a “special” Valentine’s menu where special means expensive! So why not stay home? Prepare you Valentine’s favorite dish, or, if your significant other usually prepares the meals, then it’s time for you to step up to the stove and rattle them pots and pans. You’ll save a lot and still have a memorable evening. Plus you’ll have no trouble getting a table.

Sweets At Sweet Prices

If you want to go the boxed candy route, then there’s a way to give your love a heart without having a heart attack at the register. One way is to make a candy run on the 14th. Stores usually overstock a vast array of holiday items and Valentine’s Day items are no exception. By noon of the 14th, most stores have already placed these items on sale in the hopes of clearing the heart-shaped chocolate out to make room for Easter goodies. So head over on your lunch hour, or at quitting time, and you’ll find what your heart desires.
Be Creative

No one knows the love of your life better than you do. You know what he/she wants. You know what matters to them. With a little thought, you’ll be able to find that special token of affection that no confection company could ever dream of whipping up. Put some thought into it, use your head to express what’s in your heart and you’ll go easy on your wallet.

Andrew Salmon is a freelance writer, who, in addition to writing on financial topics like term life insurance, is also a published author who has been featured on Amazon.

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Tracking My Finances In 2010: February Week 2

LuLuGal — Fri, 12 Feb 2010 11:29:45 +0000

Income for the month to date: $51.77

Expenses for the month to date: $1909.77

Net effect: -$1858

Since the last posting I have paid half the car note and will be paying the other half in two weeks. I split the car payment in two and have been using ING to push out those payments to the loan company every two weeks. This way I do not have to worry about the due date or checks getting lost in the mail and taking longer than expected. All my bills that can be paid via credit card are paid that way and the cards get a payment every week, again through ING’s Electric Check system.

I found 7 cents in the parking lot of my apartment and since those pennies had been lying there for three days I figured no one would want them so I added them to my little penny drawer in the kitchen. There are not enough pennies in the drawer to roll as yet but I am not worried about it.

I also got $28 from advertising on the blog after fees so that is not too bad, especially since I am expecting more advertising at the end of the month.

I paid $127.84 in electricity this month which is down from the high of $148.49 of last month, but still over my budget of $85 for the month. My small space heater broke down and no longer blows out the heated air that it used to unless it is on the highest setting. I spent $35 on a new space heater with digital settings and a timer. This is an investment for me because $35 is a lot to spend on a heater now when I paid about $20 for the last one. This one works wonderfully and I set it to 67 degrees and it still heated up the bedroom quite well. I love it!!!

I spent $34.26 on food this week but will be needing to get some soymilk as I only have two left and I have decided to have soymilk with my sandwich at lunch during the week. I was only able to get strawberries as my lunchtime fruit because all the bananas looked woefully ripe and soggy this weekend.

I made my donation to church this last Sunday and wrote a check, which is the only time I actually write a check any more. It has gotten very cold lately and started to snow yesterday which meant I had the space heater going almost the whole night. Luckily, Dinero sleeps in my bedroom now so he was able to take advantage of the heat without me worrying about heating up another room.

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

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