Ahh Mondays, the most disliked day of the week. After two much needed days off Americans dread getting the week started. But are the Monday blues wrecking your life, especially your budget? “The ‘Monday Blues’ describe a set of [Read more…]
How to Entertain on a Shoestring Budget
An easy fix to this issue would simply be to not throw any parties or have one nice get-together a year. However, I enjoy entertaining too much to completely cut it out of the budget all together, which lead me to come up with a few tips on how to entertain on a shoestring budget.
How to Entertain on a Shoestring Budget
The truth is that many people are on tighter budgets than they used to be. Potluck dinners, BYOBs and budget-friendly parties are becoming more and more common. If you’re looking to entertain on a smaller-than-usual budget, here are a few ideas to consider:
- Hold a potluck: Ask your friends to bring a side dish, dessert, beverage or even plates, napkins, etc. to lessen your financial burden. This will allow everyone to contribute and it will allow you to stick to your party budget.
- BYOB: If you’re trying to entertain on a shoestring budget you’ve probably already announced your party is BYOB. Alcohol is expensive and, although it used to be considered taboo, BYOB parties are becoming more common as booze prices rise.
- Don’t buy brand name: When you purchasing items for your party (ingredients, snacks, etc) shop the cheaper, generic brands. Chances are no one will be able to tell the difference and it’ll allow you to stick to your budget.
- Borrow instead of renting: Many people rent tables and chairs for their parties. Instead of spending the money renting, check with friends to see if they will lend you items.
- Buy labels to avoid waste: Get permanent markers or stickers to mark cups at your party. This will prevent you from throwing away drinks and cups because of confusion.
- Cheap entertainment everyone enjoys: Get a deck of cards or a fun group game (I recommend Apples to Apples or Cards Against Humanity). These can provide entertainment at the party for a low price.
- Hold a “rent party”: It is becoming more common to see people charging admission to their parties. These are oftentimes called “rent parties” because people use them to raise the money for rent at the end of the month. It isn’t unheard of for hosts to ask their guests to chip in (especially if they are footing the bill for everything).
- Don’t be afraid to end the party: Lastly, don’t be afraid to tell people to go home. You may spend more money than you intended if the party lasts longer than you thought it would. If people stay longer they’ll eat and drink more. Don’t be afraid to include an “end time” on your invitation.
There are plenty of other great ways to entertain on a shoestring budget out there as well, including making your appetizers from scratch. If you’ve got something you think we should add to the list, let us know.
Photo: Italian Made
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Simple Household Updates That Will Save you Money in the Long Run
When thinking of making updates to your household, it’s good to think along the lines of which ones will be the most important and yield the best results for you. Read on to see some of the updates you can make that will be both simple and money-saving for you in the long run.
Get Good Window Treatments
One simple household update that can save you money is getting good window treatments. These should enable you to improve your privacy as well as energy-efficiency and thus enjoy a more functional home. One of the longest lasting options for window treatments you can get that will also be low maintenance is aluminium blinds, which are available for all sizes of windows. Find a color that will work well with the rest of your home and have them installed. The difference they make will be a noticeable one and it will give your family a more comfortable time indoors.
Switch to Energy-Efficient Appliances
If you’re still using old appliances in your home, you should consider upgrading to energy-efficient ones, which will make you good savings in terms of the energy you use over time. Shop for appliances with a good energy star rating to ensure you get the best use of energy within your home. From the washer and dryer you use to your thermostat and other items in your home, there are many items you can upgrade to get better energy-saving abilities.
Keep Your Estate Plans Updated
Experts recommend that you should update your estate plan at least once every five years. This should be done barring any major life events such as moving states and marriage as these can have a big impact on your time and resources and other general plans. With this in mind, ensure you have an expert close by who will help you keep your estate plans current and updated so that, in case of anything, you know that your family’s future is secured.
Seal Your Ducts
The ducts that you rely on to ferry treated air in and out of your home should be in a good state at all times. To ensure that they’re not leaking and costing you more energy, have them sealed. You could hire an expert to do this for you or do it yourself if you’re able. When you’re not losing treated air meant for use in your home and your heating and cooling is working efficiently, you can save a sizeable amount on your energy bills over time.
Take Regular Care of Your Lawn
Finally, your lawn is responsible for your home’s curb appeal, at least in part. Take good care of it to make sure it’s in the best possible state and won’t have your home looking old and neglected. With most lawns found to require at least one inch of water a week, you need to ensure that you water your lawn as often as is necessary after mowing it so it stays in good shape for a long time. Alternatively, get a xeriscape instead of grass, as it will need less water to thrive. The native plants that you will get should also be drought-resistant in order to give you the best results. You will be able to spend less time monitoring and babying your lawn doing something else that you enjoy.
With these simple updates, you can get a home that will look as good as it feels for your whole family. Take the time to make the updates suggested and you will get good returns in the form of saved time and money as well as improved value of your home.
Budget-Friendly Outdoor Activities for Summertime
When everyone is out of school and people are taking vacation it is easy to forget that you still have a budget to adhere to. Having a list of go-to budget-friendly outdoor activities for summer can help out a lot if you’re in a pinch for something to do.
Budget-Friendly Outdoor Activities for Summer
Creating a list of budget-friendly activities for the summertime isn’t too difficult. There are a TON of things to do (especially outside). Here are just a few:
Cheap Things to Do This Summer
- Water Balloon Fight: Holding a water balloon fight can be fun, especially if you have kids and it is fairly inexpensive. You’ll just have to foot the bill for the water and the balloons (which you can find fairly cheap at the Dollar Store).
- Water Guns: Similarly, water guns can be found at the Dollar Store and it can be great fun. Even if you and your adult friends get together for a water gun fight, it will be an afternoon of great fun!
- Play With Chalk: No one is too old to play with chalk. Find a spot on the sidewalk or in your driveway and make some art. It is extremely cheap and a great budget0-friendly outdoor activity.
- Take a Day Trip: If you live in an area where you can make a day trip fairly easily, plan one! Day trips can save a lot of money because you won’t be spending cash on lodging and you can also plan to pack food so you don’t have to pay restaurant prices. If you like being outdoors, this list of destinations has 50 amazing places to travel!
- Go Fishing: Fishing is a relatively inexpensive outdoor activity if you have fishing rods already. If not, it can be costly the first time but will provide hours and hours of entertainment on the low.
- Host a Potluck Cookout: If you want to get together with friends why not host a potluck cookout? You can provide the hamburgers and hotdogs and have your friends come prepared with side dishes and drinks.
- Check Sites Like Groupon: Groupon and Living Social have great local deals throughout the entire year. If you’re looking for something cheap to do, both sites are great places to look.
- Happy Hour: Feel like having an adult beverage? Make sure to check your favorite bar’s happy hour. Usually around 5:00 they will run specials on different drinks. Additionally, many bars have drinks specials day-to-day so you’ll want to ask your bartender about what’s on special the day you go.
Free Summertime Activities
In addition to cheap things to do over the summer there are also some activities you can do for free. Here are a few I came across:
- Cheap/Free Movies: My local theater offers free kids movies throughout the summer. Check your local theater to see if they do the same.
- Look Out For Free Events: Many community centers hold free events when the weather is nice. Look on billboards and other posting centers throughout town.
- Learn Something New: Check your local community centers for free classes. You may be able to learn a new craft or skill for free.
- Hit the Library: Another great place to find free classes and events is the library, not to mention all of the free books your heart could desire.
- Volunteer: If you’re still looking for something free to do this summer, volunteer. There is likely a local shelter or organization in need of your help.
These are just a few budget-friendly outdoor (and indoor) activities that you can try out this summer. If you have one you think should be added to the list, let us know!
Photo: Brinkley Walser Stoner
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Have You Tried Walmart Savings Catcher?
We’ve already reviewed Paribus, an app which scans your email inbox for receipts and makes sure you got that company’s guaranteed price. But what about Walmart’s Savings Catcher app? It is supposed to do *basically* the same thing but only with your purchases made in-store at Walmart but how useful is the app itself?
About Walmart Savings Catcher
Like Paribus, the Walmart Savings Catcher app is trying to help you save more money by making sure you are getting the price-match guarantee that Walmart offers. For the most part, the app is easy to use and a great way to make sure you’re getting the best deals possible without having to bounce from store-to-store shopping specific deals.
Instead you can simply head to Walmart and then scan your receipt with the app afterwards and let it do its magic. Within a couple days you’ll see money credited to your Savings Catcher account.
How Walmart Savings Catcher Works
The Walmart Savings Catcher app is fairly user friendly. Once you download the app from the App Store or Google Play (it is free) you’ll have to set up an account. This only takes a couple minutes. Then you are ready to start racking up your Walmart savings.
After your next trip to Walmart scan the QR code at the bottom of your Walmart receipt with the Walmart Savings Catcher app. (You can scan up to a week after the purchase date.) After your phone has successfully scanned your receipt your work is done. Sit back, relax and let the app do the rest of the work. If you receive Savings Catcher cash you’ll get a notification and it will be added to a gift card that can be used in store or online.
More About The Savings Catcher App
Walmart also has a number of other things listed on its website to keep in mind about the Walmart Savings Catcher app. Here are some of the more frequently asked questions:
- Is there a minimum purchase required to use Walmart Savings Catcher? No minimum purchase is required.
- What type of promotions does Savings Catcher include? If the price is listed in the advertisement, the Savings Catcher app will honor any BOGO deals and sales prices in your area.
- What promos aren’t included? Any promotion that requires you to buy an item to get another free (ex. “buy a bag a tortilla chips to jar of salsa free”). Walmart will not honor purchases that allow for a free gift card either, nor will they honor closeout sales, BOGO sales with no listed price in the ad, percentage off entire sections (ex. 40% off all men’s clothing) or competitor-specific deals.
- Can you use Savings Catcher online? No. You can only use Savings Catcher for your purchases made in the store.
- Are items on layaway eligible? No. Layaway items are not eligible for Savings Catcher perks.
- Can you still use coupons? Yes! Using coupons and your Savings Catcher may save you even more cash because Walmart compares the price before the coupon is applied.
If you have any other questions or are interested in learning more about Walmart Savings Catcher, check out their website or give them a call on their customer service line at 1 (800) 925-6278.
Have you tried the Savings Catcher? How much have you saved?
Photo: Walmart
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5 Tax Tips for Freelancers
Any freelancing job comes with the added fun of being your own accountant. Sure, you’re your own boss too, but now you’ve got to handle all the finances yourself. You need to make sure you’re working enough to live, a little extra if you’ve got something to save for, and, crucially, that you are doing your taxes right.
It’s already a hassle doing your own taxes every year, so to shake up the routine for the sake of taxing a freelance job can feel like a headache. If you’re having trouble, take a look at these tips to help make your taxes easier.
Don’t mix personal and business
You might have decided that, since you are the sole trader of your business, and the bank therefore doesn’t require it, you’ll not bother with a business bank account. That’s fine; however, not recommended. Keep your personal finances separated from your business for a lot of reasons.
For one thing, it will stop you just from spending business money on a new pair of shoes you just had to have, or personal money set for the utilities on an unexpected business bill. A little bit here and there can lead to more. Keeping the two separate will keep you from confusing the two, when looking at your account, which tend to present everything as one big pot.
By keeping business and personal accounts separate, you will see clearly how much money is tied up in business, how much to budget for costs, and you won’t have to decide which expenses are business related down the line.
Keep all your documents digital
There are a lot of logical reasons to keep your documents digitally stored. There is the obvious, that it lowers physical clutter, keeps things accessible, provides a backup, etc., but it also makes everything a lot easier to find. If life had a search tab, we’d never have to have a hide-a-key.
When it comes to taxes, you need to keep a hold of all your documents for at least five years after the 31 January tax deadline. That’s a lot of documents to go hunting through for something that happened five years ago.
This is important for purchases and expenses. Expenses are one of the few ways you can reduce your taxable income, and there are a lot of expenses that you can gain in a year. But getting your expenses wrong could be a tax liability. The taxman is going to need proof of all of these expenses in order to write them off, and they will be a lot easier to find and present to the taxman if they’re not in a huddled pile in a drawer in your office.
Another tip is to file them in chronological order and label them with a date so that you can easily pull them. There are lots of accounting software out there to help you with this. When it comes to creating a digital copy, you can invest in a scanner to make things clearer.
Stick to a routine
One of the main perks of freelancing is the flexible working schedule, which can be tempting to sway from anyway, so it’s important that you find some semblance of a schedule. But when it comes to accounting, it’s vital. The flexible work routine doesn’t really hand itself to accounting as you will need to be prompt with everything you are doing.
It’s recommended that you get a little done every day, rather than a lot done in a week. Set aside at least 30 minutes every day to file your documents as you need to to keep everything in order. Keep it to raising invoices, adding expenses, and reviewing reports on your dashboard and you’re done until January. It’s a case where a little tedium now will save you a lot of stress down the line.
Keep track of all sources of income
If you are freelancing, it’s likely you will have various sources of income, various clients hiring you for your work, various rates of work done for various people. Keeping track of all this is a lot easier with the new addition of online banking, and it’s important that you use it in your bookkeeping. There is accounting software that can help you here. You can link your bank feeds to the accounting software so that the software can do all the heavy lifting of tracking your accounts. Plus, your cloud-stored files will be available to the software for you to pull out as you need it.
Get professional help when you need it
Unfortunately, some of us simply don’t have the mind for numbers, never mind accounting. It’s a tedious process, with consequences if we get it wrong – and there is a lot of room for error.
If you find yourself struggling, there is nothing wrong with consulting a professional. You can hand over all your accounts and documents to a freelancer accountant to deal with and trust that they have your taxes handled. With the finances looked after, you can keep focused on growing your business. Growing your business will mean more income, and more income will mean more work for the accountant to get done.
Of course, all this will be moot if the freelance job you’re looking for is in accounting. Then you’ve just got a side task to get done.
How Marian and Dave Paid Off $120,000 of Debt in 3 Years!
I’ve got another debt success interview to share with you today!
Marian Nguyen and her husband, Dave, paid off $120,000 of debt in three years!
Stay Motivated When Getting Out of Debt With These 5 Strategies
We’re already halfway through the year! Can you believe it?
How are you doing on your New Year’s Resolutions?
If it’s time to reassess and re-start, then I’ve got five tips to help you stay motivated when getting out of debt.
It’s easy to lose motivation when you’ve got a long road ahead. It can feel like you’ll neeeevveeerrr be debt-free, right?
By following these strategies, you’ll not only keep going on your debt-free journey, but you’ll have fun on your journey, and before you know it, you’ll achieve total debt freedom!
So that’s my first tip —
Make it fun!
As the saying goes, success is a journey, not a destination. You can think of your debt freedom goal in the same way.
Who wants to be on a boring journey without adventure or excitement?
Not me!
If you currently think of slashing your spending, working overtime, and selling things left and right as something you have to do, try a different approach.
In his book “The 7 Habits of Highly Effective People,” Stephen R. Covey stated, “Happiness can be defined, in part at least, as the fruit of the desire and ability to sacrifice what we want now for what we want eventually.”
Think about that for a second — Happiness can be defined as the desire and ability to sacrifice what we want now for what we want eventually.
It’s not the sacrifice that brings joy, but the DESIRE and ABILITY to make those sacrifices because of what they will mean for your family later.
Focus on the outcome of your sacrifice over the long-term.
Focus on the outcome of your sacrifice over the long-term.
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Each time we’ve made an extra payment toward our debt, we get great pleasure from knowing that our debt total is now that much less.
And even when we only make the minimum payment, we still take pride in the fact that we’re one payment closer to being debt-free and happily watch our total debt balance go down.
Here are some other ways you can make it fun:
Make it a game to see how much you can cut your grocery bill compared to last month.
Maybe you decide that if you don’t spend any money on coffee this month, you’ll give yourself a home manicure and pedicure.
Get the kids involved too.
If they help you clip coupons and plan your weekly grocery trip, then plan a fun family movie night next weekend (renting a DVD from Redbox, or better yet, watching one of the DVDs you own and haven’t watched in a while). Make homemade pizzas and brownies with ingredients you already have.
You don’t have to wait until your debt is gone to have fun. You can enjoy the ride now.
Set mini-goals
When we started our debt-free journey, we gave ourselves eight years to pay off $320,000 of debt.
Paying off that much debt and making sacrifices for that long can be overwhelming to anyone. We tried to avoid the feeling of overwhelm by focusing on one debt at a time.
Maybe you’ve crunched the numbers and you estimate that it will take you three years to pay off your student loans.
Instead of focusing on the huge amount of student loan debt you have or the three long years it will take to achieve your goal, focus on your smallest student loan first and make that your mini-goal. (This is called the debt snowball method.) Shoot to pay off that loan as quick as you can and then celebrate when you do before moving on to the next biggest loan.
Or you could make paying off a certain amount of debt within the next three or six months your mini-goal.
Shooting for that smaller, more realistic goal will help you keep going.
You could also break it down even further. Calculate how much you need to pay off on average each month to reach your shorter-term goal. Focus on how you can slash your spending and bring in extra income so that you can pay that amount toward your debt this month.
And come up with an inexpensive way to celebrate when you meet each mini-goal. Give yourself something to look forward to in addition to paying off that huge chunk of debt.
Track your progress
This one might seem obvious, but I’m surprised at how often I work with people who have been struggling to gain traction on their goal to become debt-free, and they don’t even know how much debt they HAVE paid off.
Oftentimes when we calculate how much debt they’ve paid off since starting their journey, they’re pleasantly surprised at the progress they HAVE made, and then they don’t feel so discouraged.
So get clear on your starting point, and then track your progress going forward.
For me, this is the part I look forward to the most. The first day of the month I update our debt snowball and calculate not only how much debt we have left to pay off, but I focus my excitement on the total amount of debt we have ALREADY paid off.
Continue the theme of making it fun, and create a graph or chart to fill in with your kids.
I give my clients who work with me a Debt Freedom Roadmap Tracker that they can personalize with their own mini-goals and fill in as they make progress toward their goals.
Get imaginative
Imagine what life will be like when you’re debt-free and all the hard work has paid off. What will you do to celebrate once you’ve met your goal? How will life be different?
Alternatively, what will life be like if you lose focus and give up?
If you stop now, what will life look like in 5 years, 10 years, 20 years? Will you still be struggling? Will you still be telling your kids and yourself that you “can’t afford it?”
What about when it’s time to send your kids to college or time for you to retire? Will you be able to achieve those goals if you go back to your old ways?
Every time I get discouraged, I think of the path that I’m on and compare it to the alternative way of life. Then I refocus, recommit, and do something to take action that will bring me closer to my goal.
Surround yourself with inspiration
This can be in the form of success stories of others who have gotten out of debt, like the ones I share on my blog and YouTube channel.
Here are some of my favorites:
How a Family of 7 Paid Off $137,000 of Debt in 4 Years
How One Couple Found Financial Freedom by Paying Off $500,000 of Debt
Dontae and Laura’s Debt Free Story
Miriam’s Journey Out of Debt and In to the Life of Her Dreams
But it can also be in the form of quotes of wisdom.
Here’s one of my favorites that has kept me going whenever I’m lacking motivation on one of my goals:
Earl Nightingale said, “Never give up on a dream just because of the time it will take to accomplish it. The time will pass anyway.”
Never give up on a dream just because of the time it will take to accomplish it. Earl Nightingale
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Isn’t that so true?
The time is going to pass by anyway so why not spend the time working toward a dream that will dramatically improve your life, like breaking free from debt?
When my husband and I started our journey, we gave ourselves eight years to reach our goal of total debt freedom. That was nearly three years ago, and looking back, the time has flown by.
The truth is that you can achieve almost anything you want in life. Most goals will take time, perseverance, and relentless focus to achieve. But the journey doesn’t have to be dreary and painful.
Make it fun, set mini-goals, track your progress, get imaginative, and surround yourself with stories and wisdom that will inspire you to keep going.
Before you know it, you’ll be crossing your first mini-goal off your list, and before long, you’ll be making your final payment on your last debt.
If you need help getting started on your debt-free journey, check out my Work With Me page to find out how I can help! Or you can schedule a time to chat with me by clicking here.
Now I’d love to hear about you!
How do you stay motivated when working toward your goals? Which strategies can you use to help stay focused on your goal of debt freedom? Please share in the comments below.
Have you joined our free community yet?
Join me in our private Facebook group called Your Debt Freedom Family, where I share more tips like this. We’ve got an energetic community of people who are kicking debt to the curb so they can break free and live life on their terms.
Click here to join the fun!
I’d love to see you there!
Keep moving forward toward your goals. You really can live the life you dream about!
Give Yourself Permission to Write it in Pencil
As you all know, I have been practicing yoga for a little over a year now. (I recently wrote an article about my desire to do headstands.)
Every week, I try to go to at least one class and I have a one-on-one session on Thursdays with my yoga instructor and good friend. Usually, we are working on perfecting a yoga pose I’ve been working on or helping me with a problem area (this dang elbow). Every now and then, our Thursday sessions wind up being a couple hours of chatting with hot coffee in our hands while maybe hitting a pose or two.
This week’s session was one of the latter. We sat on our mats chatting about life, changes happening, and how we feel we could improve our own days.
Something I Do Every Day
One thing I try to do every day is wake up a bit before everyone else in the house. I need some alone time to have my cup of coffee, sort through what needs to be done that day, and have some stillness, quiet.
During the day, my house is hustling and bustling like everyone else’s. My husband is normally playing video games next to me or editing a video. The little one is out in the living room watching Toy Story for the thousandth time. The neighbor is mowing the grass. Our dog is at the backdoor, wanting in or out. My phone is ringing with a work call. The noise is constant and I need an hour in the morning to myself to enjoy the silence, along with a much-needed cup of coffee.
While I sip my hot, steamy caffeine in the mornings, I also go through my to-do list. I write down a few things that have to get done that day and a few things that would be nice to get done “if energy permits.”
This is what we started talking about on Thursday that really gave us both an “aha” moment.
The Never-Ending To-Do List
I’m a list person. I make a to-do list for everything. Aspirational to-do lists. Adulting to-do lists. Lists for my bills. Lists for planning events. At any given moment, you might find about 10 lists in my house. I go through them each day and pick things that are important (to me). While we were chatting about these to-do lists, my friend said not getting things checked off her list makes her a bit anxious.
Well, I said, write it in pencil.
We both just sat dumbfounded for a minute. It was a spoken permission that neither of us knew we needed. You can write your to-do list in pencil.
Pencil isn’t permanent and, guess what? Even if everything doesn’t get checked off your to-do list today, you can erase it and try again tomorrow. This mindset goes for everything. Set your goals, but allow yourself some flexibility. Give yourself permission to write it down in pencil and change your mind. You’ve got all the power in the world.
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A Special Announcement!
We’re expanding the family!
No, we’re not having another baby.
We’re growing our online family.
We’re spreading the love over on Facebook.
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