Low Spend Update

I'm guessing you are here because you want to know how my low spend week is going. Not too bad. It could always be worse. Thursday was a no spend day, which I'm happy for. The spending started about 4pm yesterday. The afternoon munchies hit my daughter. She knew we didn't have much at home she wanted to snack on. This resulted in a stop at Super Target. We bought 11 items. Some were basic junk food, but I did buy mushrooms and another ingredient for a soup I will make tonight. I also bought a bottle of semi cheap wine...definitely not a need. Our total for that trip $27.25.

You would think the spending would have stopped there for the day, but it seems I fell for some marketing. I received a Pizza Hut email offer for two medium pizzas for $5.99 each. It just sounded good for a Friday night. I wasn't in the mood to cook, even though the plan was simple pancakes. I spent $12.82 with tax on the two pizzas. We ate them for dinner last night and finished up the leftovers for lunch, so the expense was not wasted. This is not an expense that I should be having during a low spend week!!

No that wasn't the last of the spending for Friday. We wanted to watch a movie. One of my daughter's and I looked for nearly 30 minutes on Amazon for a free movie we could download. If it was just me, I think I could have found something. Yes, I am blaming this expense on my daughter! We ended up renting Mr. Holland's Opus for $3.99. You would think the price would be far less considering how old the movie is. It was an enjoyable movie. We even cried tears at the end!

Our Friday spending alone was  $44.06. I'm glad I wasn't spending this amount every day this week. Today, I did have to buy gas for one of the vehicles. I was out driving around and the light indicating I was low on fuel came on. Considering it is snowing and the roads are deteriorating I figured it really was time to buy fuel. I spent $58.01 to fill the tank up. And yes, that is the rest of the spending for today. We don't need any food. We don't need to rent another movie as we really do have plenty of free entertainment options.

The total from last Sunday through today, Saturday is $183.90. I don't think I could have whittled this down too much further. I know there were things that could have been skipped entirely, like the wine, pizza and movie, the car wash and a snack item or two. I would have still spent about $150 without those items. I'm actually really pleased with the results.

I'd like to try for another week, but I don't know that I would get similar results. We may be having guests one or two nights this week, so that could change my meal plan slightly. I think I can keep expenses pretty low through Tuesday, if I work on it. I know I will be going to the store before then. I might as well give it a shot to buy only needs for the next few days. Then I guess instead of a low spend week, we could call it a 10 day money fast. :)

Did you attempt to keep your spending low this week? Or maybe you just told yourself no to some of those things you buy nearly everyday? Tell me about it.

No Money, But I Need to Buy....

I'm having this low spend week, just to keep things in check. It is good to take a break and make a conscious effort to watch spending. Sometimes we even need to do it by necessity. I've noticed this week, that I still have thoughts of spending. Those just don't seem to go away even when the goal changes. Darn it!

Depending on the item I have thought about buying, I think about my choices and options. One was laundry detergent. I still have some, but I can tell we are low. It most likely can wait. But what if I realized I'm on my last load of detergent tomorrow, but I have three baskets full of laundry? It is human nature to first think, we MUST go purchase detergent. But after that thought, I realized I could sort the three baskets of laundry to find the most needed items to be washed and narrow it to one load. I could even wash a few items by hand with dish or bar soap. That does depend on the item, as I'm pretty sure I couldn't get jeans clean with dish or bar soap! Although I would be willing to try if necessary.

Do you shop online? It seems so many things are just far cheaper online. And often for the very same thing! Combine online shopping codes, rebate sites like Ebates, free shipping and credit card rewards, the deals are amazing. The disadvantage of online shopping is that you can't get the item in the next 15 minutes. But with some advanced planning you can purchase ahead of time and avoid that extra run to the store. I've noticed that we purchase cat food every two months. I actually have a note on my email calendar to remind myself of this purchase. Once I have the reminder sent a week or so before the food is needed, I have time to be looking for the best price on the food we purchase. It also has time to be mailed. I'm pretty good keeping stocked on toilet paper, vitamins, hair product, furnace filters and cat food.

I'm not an expert in timing all the needs our family has by any means. Not long ago one of my daughter's need a cowboy hat for a concert. The notice was very short. Just a couple of days. Unfortunately I had just donated a cowboy costume hat the week before! Ack. I did ask my neighbors if they had any to borrow. No such luck. But we were able to find one at a thrift shop for less than $2. I don't know my true savings on this item as I don't know what I would have paid at a costume shop, but my guess it was significantly more than $2!

Another thing that seems to come up that can derail spending or my need to go to the store is running out of an ingredient while in the middle of cooking or baking. So frustrating! I know I recently was making a soup that had many different spices in it. I was completely out of one. I ended up leaving it out and it still tasted just fine. It was not worth going to the store for. I will put it on my list for the next time I'm at the store. But what if it is an important ingredient? That is where looking online for substitution ideas or calling a neighbor might be the best choice. Did you know in baking you can substitute applesauce for an egg? Or add lemon juice to milk to make a buttermilk substitution?

It really does pay to stop and take moment before you run off to buy something whether there is another option. One that is free or cheaper and meets the need just as well can be quite satisfying! Do you have an example of a way you have saved recently that might be considering thinking outside the box?

Savings Update

I mentioned my plan to participate in my own 52 Week Savings Challenge back in December. I have made two deposits since then of $57 each. My total in the challenge is now at $181. It is moving along just fine since I made the transactions occur automatically!!

My low spend week is definitely working so far. I have spent only $15.35 since I mentioned my plan on Sunday. I just spent that money today. I mailed a package at the post office for $2.24. This was for a child, so I didn't think it should wait. I also made a run to Target to purchase a few food items: cranberries, romaine lettuce, spinach, large container of vanilla yogurt, frozen mangoes, and 3 pack of gum. I stuck to my list. I was tempted to grab a soda and a cliff bar, but I refrained. Yea me!!

I can see the fuel in the vehicles dropping each day. I'm really hoping to make it through Sunday, but I have a feeling that I may end up filling at least one of the vehicles up before then. I still have a fabric purchase to make, but I keep putting it off as I have another project I need to complete first. And I'm procrastinating that one! I guess that means procrastination is saving me money. That is not always the case, such as paying a bill late.

If you are doing any type of savings challenge this year, it is not too late to start or get back on track. Just pick up where you left off. Keep up the good work, if you have made all your goals so far.

Don't Throw Money Away!

I was doing my daily Swagbucks and saw an article about throwing away money. It focused primarily on those items we purchase only to throw them away. Some examples were paper plates, plastic wrap, paper towels, and tissues. The point was to not buy these disposables in the first place if there is a reusable alternative because it can save you money! Buying them is essentially throwing money in the trash. Now who would ever actually throw real money in the trash? Not me!

We have quite a few reusable items in our home. Some were bought with the intention of saving money, while others are more convenient or better for the environment. In our home we have rechargeable batteries, reusable grocery bags (primarily obtained free), glass containers for food storage, reusable sandwich and snack bags, reusable water bottles. We use rags for most cleaning, including on our Swiffer which we use both dry and wet.

I do purchase toilet paper, tissues and paper towels. I personally rarely use the paper towels, but I do see that my husband it quick to use them for cleaning and one daughter uses them to wipe her hands and face. I buy the select a size, so I think we are going through the paper at a slower rate.

If you are looking to trim expenses, it is good to take a look at what you are buying and throwing away. There may be an alternative that is less expensive, and maybe even better for the environment! Do you buy any disposables that could be replaced? Have you invested in some reusable items? What other items do we Americans buy that could be replaced with a reusable version which could save us money?

How Low Can I Go?

My goal for this week is to keep spending to a minimum. Payday occurs on Wednesday, but I know that the days between the next pay period will seem long.  I don't have a specific goal, but anything less than $100 will be a success. Zero would be ideal. :)

I bought groceries today which should cover us through Saturday. I spent $59.24. I also got a car wash for $5. It was nice to get the salt from the last two weeks or more off the van.  I know that I have to pay $20 for a flute lesson, but that money has already been accounted for when I withdrew the cash earlier this month.

I intend to focus on exercise, sewing projects and cleaning to keep me out of the stores. It really doesn't seem like we NEED anything at all, but it always seems something comes up each week. Last week, I had to buy a new pad lock for my daughter, hers was cut off the locker over the holiday break. That was less than $4 out of pocket, but it seems like a lot of those little things do add up!

I should have enough fuel to make the trips to school and the gym. I will pay any regular bills that are due. My main goal is to just keep the extra spending as low as I can go.

Are you up for a low spend week? Do you ever plan for a low spend week or more? Any bets on how much you think I might spend before next Monday?

Today's Frugal Happenings

By definition, frugal is the characterized by or reflecting economy in the use of resources. Another source, indicated that frugal is being careful about spending money or using things when you do not need to. The second definition is true for us. We probably don't need to be frugal, since we do have money available to save. And the truth is we aren't frugal in everything we do. But I personally find it fun!

Here is a little sampling of the frugal things I did today:

• finished leftover bean dip and chips for lunch
• returned an unopened item for a refund
• used samples of shampoo and conditioner received in the mail
• used half a dryer sheet in the dryer
• paid bills online, rather than mailing a check
• opened a tube of hair product to get the last amount out
• turned off lights after I was in a room
• used a tea bag twice
• used the back side of printed paper for my errand list
• checked out two books at the library
• washed reusable sandwich bags for tomorrows lunch
• snapped the zipper pull tab back on a piece of clothing (at first I thought the zipper had been rendered useless, but after inspecting the pieces I realized they could be snapped back together)
• our thermostat is set to drop to 62 degrees at night in the winter

I'm sure there may have been other frugal things I did today. In fact, most of those things above, I do out of habit.  I did really think for a few moments that I had lost that piece of clothing because the zipper tab came off. The odds of finding a zipper to replace it with would have been slim. Now I can get more use out of a perfectly good item! I find it is in my nature to first consider if something can be repaired before I toss it out. Of course, there are times where repairing an item isn't possible or it doesn't make financial sense.

What frugal things did you do today? Is there something frugal you can start doing that you weren't before?

Review Expenses

Ah, a new year! A clean slate. Time to start making goals for the new year. Save more. Pay down debt. Common goals, right?  And very good ones, too! I feel that making progress towards any goal is to review where you are currently. If your finances are in such a place that you can't save the amount to get to your goal you are setting yourself up for failure. It's simply a wish that can't come true. And that is sad.

To make that wish a goal requires a little work, one of which is reviewing your expenses. Ugh. I know. It seems boring.  But it can pay off.  The easiest expenses to look at are those that are fixed. The ones that are due every month, usually at the same time, for the same amount. Like rent, or your mortgage payment. Sometimes the amount isn't fixed, but you know that it is due each month. Examples are your cell phone bill, electric or gas. I think a simple list is good place to start.

Mortgage. We could consider refinancing to lower the principal and interest portion of our payment. We could shop around for less expensive homeowner's insurance, increase our insurance deductible which should lower our insurance, appeal property taxes, take on a renter, or move less expensive housing.

Cell Phone. We could consider changing plans to fewer minutes, a no contract plan, a prepaid plan or eliminate one or more phones entirely. I don't think we would eliminate cell phones at this point, but it really is an option!

Life Insurance. We could shop around for lower premiums, lower the insurance amount, or eliminate insurance entirely.

Electricity, Water, and Gas. These all really involve using less of the particular utility. Setting the heat lower while away. Lowering the water temperature of the water heater. Taking shorter showers and running fewer loads of laundry.  Turning off lights, unplugging items that are not in use. Investigate other ways to save on utility costs.

Water Softener Rental. In our case we pay by the month, but we could look into purchasing our own rather than renting. We could eliminate the water softener, which we also save us on salt, but would cause us to use more soap (and likely lotion for our dry skin).

Ooma Phone. This is a voice over internet phone line that we pay just $3.72 a month for local and long distance. This is actually something new at our home. We cancelled our land line which was costing us about $30 a month. By switching to an internet phone we have save over $26 a month. We could eliminate this new service if we wanted to lower our bills even further.

Internet. It seems almost wrong to say it, but we could eliminate our home internet service. Or since we have pretty high speed service, we could probably downgrade our service and pay less per month. We could also shop for other providers who could service our area at a lower cost.

We do have other expenses than this list. Clearly we eat, and drive cars. Those expenses can and should be reviewed later.  I hope that in reviewing some of our regular expenses you can see how looking at each expense is a good exercise in really looking at what you are spending and what your options are for those expenses. Eliminating an expense really is an option. Remember, you have a goal! A goal to eliminate a debt that is dragging you down, or a savings goal that you want to reach as fast as possible. Reducing your expenses can be just as good as getting a job. The less money you spend, the more you have to make your goal more than just as wish.

After writing this post,I've decided to talk with my husband about increasing our homeowner's deductible to reduce our premium, as well as look into downgrading our high speed internet. The cell phone bill has been on our list of things to do for awhile. I'm actually concerned that we may end up with a larger bill!

Do you review all of your expenses regularly? Are you overdue for taking a look at your expenses? Is your goal to reduce debt or save this year?