I’ve got the cost of groceries on my mind lately so today’s question is related to groceries!
I’m Wondering: What part of your grocery bill always costs the most? (Meat, produce, dairy…etc.)
Have you got something you’ve been wondering about that I could feature in a future I’m Wondering post? Submit your question to us here!
Credit card debt is something that millions of Canadians struggle with. It’s like a vicious cycle that never stops, unless you can get rid of the credit cards. However, it’s no secret that emergencies happen and sometimes those credit cards can be a lifesaver. Check out these tips for avoiding credit card debt this year.
If you have never used the cash envelope system, it’s definitely worth trying! Basically, you create a budget and use the cash envelopes as a way to hold the money for your various budget categories. For example, in your budget, you might have allotted $50 for eating out for the month. That $50 would go in your eating out envelope and once it’s gone, it's gone.
It’s absolutely nearly impossible to stay out of debt if you’re not able to pay things off when they arise. Start setting up your emergency fund now, so you can stay out of trouble later. It's recommended that you have at least three months of living expenses saved up, but you can do what you feel is best for your situation.
Of course one of the most common sense ways to avoid credit card debt is to cut up the credit cards. Instead of relying on credit cards, you can build up a savings. Having your emergency fund in place will help you avoid using a credit card when emergencies arise.
Many people use their credit card to purchase bigger items that they cannot normally afford. Friends, this is called living above your means. You probably don’t need a new television or a bigger bed if you cannot pay cash for it. Sometimes avoiding these big purchases can help you be thankful for what you already have. Instead of using a credit card, start saving cash for your next purchase.
For some reason there is an option that allows you to put someone else on your credit card. This will rack up your credit card amount fast. The only one who should have access to your credit card is you. If your credit card gets lost or stolen, this can mean big trouble for your finances. If you’re trying to avoid credit card debt, it’s probably best to not put someone else's name on your credit card.
There are some credit cards out there that come with a hefty price tag. They lure you in with their lovely interest rates and then pounce on you whenever the promotional interest rate is up. Always read the fine print to your credit card.
Do you have some credit card debt to work off this year? How are you going to accomplish that? What are your tips for staying credit card debt free?
Just how do we resist the desire to buy? We all like nice things. We all want nice things. But do we really need all those nice things? Let me just say that there is nothing wrong with wanting nice stuff, but sometimes we need to draw the line and say enough. I have gone through quite the learning curve in the last couple of years and I have found some things that always seem to help quench my thirst for more:
I think this is the most important thing to consider. If you're trying to get out of debt, a new $2000 couch will not be helping you. If you're saving up for a vacation, a new bathing suit (when you have 10 others already) will not help you. Will buying a particular item help you meet the financial goals you have put in place? Or will it hinder it?
I rarely think about buying something if I haven't seen it first. Stay out of the stores if you can and do away with catalogues! Unsubscribe from all those emails to your favourite stores. (Even the Simply Frugal emails, if you must! ;))
Do you really need it or is it a want? If it's a definite need then there is no way you should feel guilty about your purchase.
I've found many times I can do without something if I simply walk away. For some reason, the item might not seem as appealing days later.
Do something fun. Enjoy the outdoors, volunteer, etc!
How many hours will you or your spouse have to work to pay for it? Will you have to fix it, clean it, store it, insure it?
Having a thorough decluttering session is a surefire way in my books to stop needless spending. I find once I finish decluttering my home, I am so satisfied with what I had let go of and all the space I cleared up, I really don't want to clutter it back up!
If you carefully consider a purchase and buy something that will last, you won't feel that constant desire to upgrade. There's always a time and a place to buy temporary, but generally buying quality will save you money and time in the long run!
What are some techniques that you use to help you resist the desire to buy?
Impulse Spending: The buying of goods without planning to do so in advance, as a result of a sudden whim or impulse.
I am guilty of impulse spending and I'm all too familiar with the feeling of regret after I make said purchase. Are you all too familiar as well? These days, I'm much better at avoiding an impulse purchase thanks to my tried & true method. It's simple, really, and has kept hundreds of dollars in my pocket over the years.
Here’s my method:
There you have it! My tried & true way to curb impulse spending! It's not 100% foolproof, but it has cut my spending down significantly over the years. After the process, I'm often looking at my list and wondering “why on earth did I think I needed all that stuff!”
For those of you that are joining me this month for the No Spend Challenge this could be a good lesson for you to incorporate. Since it is a No Spend challenge, I'd encourage you to write every single item down that you may want throughout the month. At the end of the month, take a look at your list and reevaluate your need/want. So instead of a 48 - 72 hour waiting period, you could end up with a 20 day waiting period. My guess is that if you have to wait that long you probably won't want those items after all. 😉
I'd love to know how you curb impulse spending? Any tricks you care to share?
No matter what time of year of year it is, it's never too late to start making a financial plan. It's always a good idea to have a plan in place so you can tell your money exactly what to do so you can reach your financial goals. But, maybe you don't really know how to start? Here are some tips for bringing your financial plan into fruition.
To begin, you should think about having a budget in mind. It doesn't need to be a set budget, but it helps if you have some numbers in mind. For example, say you plan on spending $400 a month on groceries. It doesn't have to be a set-in stone budget, but it does give you an idea or a goal to reach towards. You may adjust as needed. Now that you have created a budget for each major area in regards to your finances, the biggest obstacle will be to stick with it. 🙂
Most people have bills and/or some sort of debt. With the New Year on the horizon, you should prioritize your bills as much as possible. Also, seriously consider cutting down your debt. The less debt that you have, the more money you can put towards major saving goals.
Let’s be honest for a moment. Everyone has a financial downfall. Maybe yours is shopping. Whatever the financial downfall is, it’s important to know what it is, so you can avoid it. Everyone’s financial downfall has the potential to get them in trouble, which is why keeping tabs on it can help your financial plan, instead of hurting it.
Every year, it's smart to plan on having money goals. For 2016, my family had a “savings” goal in mind. We wanted to save as much as possible so that we could put a large down payment on the house we bought. Maybe in your case, there is a certain amount of money that you'd like to save before 2018 hits. These financial goals help us to create a financial plan that makes sense.
Once you have put all this work into your financial plan, don’t let it fall to the wayside. Keep on top of it! Put this financial plan into action, you won’t regret it.
This year, you could plan on putting a financial plan binder together. Everything that has to do with your financial plan can go into a binder. The Budget Planner that I have available is a great way to help you to stay more organized and on target with your financial plan.
What tips do you have for someone trying to make a financial plan this year? Do you have any lofty financial goals that you'd like to hit?
Can you believe it is time to start thinking about holiday family photos already? The holidays are the perfect time to get family photos done, especially if you are considering photo greeting cards or other photo gifts. But how can you get amazing pictures without going broke? The great news is there are plenty of ways to save money on family holiday photos while still putting your best foot forward. Take a look below at 6 ways to save money on family holiday photos so you can be sure you get gorgeous photos at a great price.
Chances are, you won’t have to scour at all! Newspapers are filled with photo studio coupons around the holiday season since studios know this is when customers are most active. Chances are you can find packages for as low as $20 with coupon for some of your favorite local studios.
If you want to use a private photographer, look for mini session deals. Many photographers offer mini sessions around the holidays which include a 30 minute session and 8-10 images. This is perfect for snagging a few shots that you can use in greeting cards and photo gifts! Ask local photographers in your area if they offer any mini sessions.
Why? Because they offer all sorts of color coordinated pieces for the whole family! Plus, during the holidays you can score these items for as much as 50% off. Choose a color theme of 3-4 colors and mix and match Old Navy clothing pieces for a picture perfect wardrobe.
Do you really need that photo keychain? Mousepad? Or fancy editing? Probably not. Skip all of these extras no matter how cute they are. Instead, stick to the basic prints and packages you are offered and bypass any additional photo perks which can hike up your price.
Do you have a friend with a creative eye? Ask them to help you out. See if they will take a few family shots for you in exchange for a small fee or favor. Find a nice field or fireplace to gather around and take a beautiful shot. Use online photo editing (a program like PicMonkey is great) to make your photos pop! Then, just save and send them to your nearest photo lab for printing.
Groupon is where I find a deal every year on portraits from Walmart. While Walmart definitely isn’t fancy, I’m still very happy with how our photos turn out! We also get a ton of photos with the package! Win!
As you can see there are many simple ways to get holiday family photos for less. Give these tips for getting holiday family photos for less a try and see what amazing results you can achieve.
I’d love to know how you save on family holiday photos each year. Let me know in the comments!
