Does it concern you that you don’t have an emergency fund? If so, it's not too late to change that! Building an emergency fund can offer you peace of mind as well as the cash you need for a rainy day. Here are 5 ideas to help you easily and efficiently build an emergency fund. Here is how to get started:
1. Set your goals.
Write down what your goal is for your emergency fund. Start low so it feels like something within reach. For example, choose an amount like $500. This would be enough to cover the cost of an appliance if one were to die on you or an unexpected bill.
2. Start with “small change.”
Start your fund by collecting your change. Every time you make a purchase and have change from the transaction, save it. If you find change around the house, store it away and save it. After 30 days, take your change and cash it in. Take the cash and add it to your emergency savings.
3. Go on a week long spending fast.
For one week, vow not to spend money. Instead, pack your lunch. Make your own coffee. Don’t buy any new clothing or entertainment items. Then, take the estimated cost of these items and put it in your fund. For example, if you spend $30 a week on lattes, take that $30 instead and place it in the fund.
4. Set aside 10 - 15% of your weekly income.
When you deposit your paycheck, take 10 - 15% off the top and put it in your emergency fund. It will be easier not to spend it if you don’t even see it in the first place. As you get comfortable with this amount, you can bump it up to 20% or more.
5. Sell what you don’t need.
Do you have a bunch of items around the home you don’t use anymore? Sell them! Ebay, Facebook Buy & Sell groups, Kijiji and Craigslist are a great way to unload unnecessary items. Take the money you make from your sales and add it to your emergency fund.
When you give these tips a try, you can quickly and easily build your emergency fund! Having an emergency fund on hand can help you feel more secure and prepared for the future as well. Give these tips a try and see what you can save. You are sure to be amazed!
What are your tried and true ways to building an emergency fund?
Every Monday in 2015, I’ll be sharing a different idea to help you save money! Add all of these tips to your frugal repertoire and you’ll be able to save a lot of money this year! I hope you’ll gather a few new ideas or at least some inspiration from this series.
Staying home more often is one of the simplest ways to have more time, spend less money, accumulate less clutter, and to simply live a less busy lifestyle!
Staying home used to be so hard for me. I’d go out to the mall or even drive over to the next city over for some ‘better shopping’, way more than I needed to. These trips would always result in money spent on lunch out, deals I may have thought I needed, and probably takeout for dinner because I was too tired to cook! Totally not worth it.
Staying Home means I have More Time, More Money, Less Clutter and a Simpler Lifestyle!
I’m amazed at how much I can get done at home when I limit my time out in town. I actually enjoy my twice a week grocery shopping trips because I have had time to plan the grocery list and meals. (and actually create the meals that I bought the groceries for!) I’m also somewhat impressed at what I can get accomplished around the house by staying home more often. I also have more time to play with my daughter one on one.
Another perk to spending more time at home is that I do less unnecessary spending. So I’m keeping more money in my bank account and bringing home less clutter. Win win!
Since having Sienna, I’ve found myself needing to be out more often. (For sanity reasons ;)) But I have also consciously chosen activities for us that don’t cost much or any money at all. We’ve gone to the library for story time, joined a Mother Goose program and gone for playdates at friends’ homes. We recently started going to a drop-in gymnastics class that costs only $5. As for me, I have a bi-weekly date with a couple of longtime girlfriends at my one girlfriend’s home. We bring snacks, but the conversations we have, no money can buy!
So as you can see, I don’t cut out every activity because I do value time spent with others in the community and my friends and family. But staying home more often really allows me to focus on what I value most and allows me to become refreshed so I can be a blessing to those I see when we do go out.
Staying home more often really works for me!
Here are some ideas to be happier at home:
Invite friends or family over for a movie/dinner night
Buy/pick some inexpensive flowers such as daffodils
Read a good book
Take a nice bath
Enjoy a dinner by candlelight
Clear out as much clutter as possible, clean off the kitchen countertops, get rid of at least one pile of papers
Listen to your favorite music
Listen to your favorite music LOUD when you’re cleaning
Surround yourself with the things you love, allow no room for things that don’t make you feel happy
Take time to enjoy your favorite hot or cold beverage in the mornings (or evenings)
Keep your favorite candle burning
Play hard with your children
Bake: it tastes great and smells wonderful
Try a new recipe that you found on Pinterest or another recipe site
Work at wanting what you have rather than having what you want
Play board games with family or friends
Stop resenting what your house isn’t and start appreciating what it is.
Display family photos
How does staying home save you more money? Please share in the comments!
Are you looking to save more money this year? Whether you are an occasional couponer or an avid one, take a peek below at 7 steps to organize your coupons for ultimate savings. By making a few changes to your organization, you can make sure your coupons work for you and get you the most bang for your buck. Here is how you can get started organizing your coupons and saving more!
1. Step One: Utilize a binder.
Head to your local dollar store for a simple three ring binder. You can then decorate it to your liking or just keep it clean and plain. Make sure it is sturdy and will last being handled often during the year.
2. Step Two: Divide your binder contents.
Now, divide your binder into sections. Your sections can be as follows: Dairy, Produce, Breads, Meat, Desserts, Breakfast, Toiletries, Cleaning, Soon to Expire. Place plastic sheets into each section which can then be used to hold the coupons for that section. (I like these ones.)
3. Step Three: Print off coupon policies.
Print off the coupon policies to your favorite store and add them to the back of your binder. This way you always have them for easy reference should you need them.
4. Step Four: Make a flyer pocket.
At the front of your binder, make a pocket for flyers. This way, you also have those to easily reference should you need them when shopping.
5. Step five: Do a weekly expiration check.
At the start of each week, do a check of the coupons to remove any that may have expired. If any are soon to expire, remove them and place them in a ‘soon to expire” file so you can use them before they become worthless.
6. Step Six: Bundle double coupon scenarios.
For stores like London Drugs that let you stack coupons, bundle those coupons together before filing them. For example if London Drugs has a store coupon for Dove soap and you have a manufacturer coupon for it as well, clip them together before filing. This way you won’t have to dig and can figure your savings out easily.
7. Step Seven: Track your savings.
Keep a running tally in the back of your binder of how much you have saved. You can do this by storing your receipts or simply jot down the date and the amount of coupon savings you earned. At the end of the month add up your savings and use it as a goal and motivator for next month.
You can make the most of your coupons and really save at the checkout! Give these tips a try and see how they work for you!
I love making my own homemade mixes. In fact, I love making them so much I devoted the entire month of March a couple of years ago to homemade mixes. Not only are they friendly on the wallet, they're more healthy than their store bought counterparts. The convenience factor is also something to be noted. I love knowing that I most likely have all the ingredients on hand to whip up a giant batch of pancake mix (Or taco seasoning. Or oatmeal. The list is endless.) for when the mood strikes on the weekend.
Make Your Own Homemade Mixes
This money saving tip might not save you much if you regularly get mixes for pennies with coupons. But if you're in the habit of buying expensive baking mixes, seasonings, pancake mixes and individual sized oatmeal packs, you'll save a ton.
Homemade mixes will not only save you money because it's more economical than buying them pre-made at the store, but they can also save you money by encouraging you to eat at home. If you have pancake mix already made or pizza dough in the freezer, you have fewer excuses to go out for breakfast or order pizza.
How to Make Your Own Homemade Mixes
First of all, you can check out my March Mixes series for recipes or inspiration. You could first try something that you regularly purchase at the grocery store. Pinterest is also a wealth of information for homemade mixes. Experiment often. When you find a great recipe, keep it on file! Pretty soon you'll have a nice collection of tried and true recipes, plus, a stockpile of mixes in your pantry or freezer!
I thought it would be fun to have a look back at what the top 12 posts for 2014 were on Simply Frugal! Some of these posts were not written in 2014, but thanks to Pinterest, they’re still popular!
This is a post from simply Frugal reader Stephanie with some great, practical tips that I hope you’ll enjoy!
After my spouse lost his job, we started looking for ways to save money wherever possible. We live in the Greater Vancouver area where gas prices are always quite high (currently they are in the range of $138.9 to $145.9 cents/litre). I commute 70km per day and our weekly gas fill-up usually costs between $50-55. I need my car for my job so driving to work is a non-negotiable, plus taking public transit to my office is actually more expensive than driving.
Many people I know live close enough to the U.S. border (and have Nexus) so they typically drive into Washington to fill up, but this doesn’t work for our lifestyle. So, here are my favourite tips on how to save money on gas (while staying in Canada):
1. NEVER fill up your tank during your morning commute- gas usually costs an extra $0.05/L during this time. Always wait to fill it up in the evening, either on your way home from work or later at night. I’ve had good luck on Monday, Tuesday, and Wednesday evenings with finding the lowest gas prices. GasBuddy is usually quite accurate in reflecting the correct prices at the stations near me. If it’s a fill-up day, I always check GasBuddy before leaving work. This practice saves us anywhere between $1.25-$1.75 per fill-up, which may not sound like much on a weekly basis, but in the long-term it adds up to $65-90 per year.
2. GasBuddy can also calculate the most fuel-efficient route for your commute, based on the make/model/year of your car. Plug in a few options for your daily commute and calculate the true cost of the drive (factoring in tolls, the likeliness of idling/being stuck in traffic, and the “life value” of the time you save by taking the most efficient route home- this is way more important than saving a few cents on gas!)
3. Certain loyalty rewards points can be exchanged for gift cards for gas stations. In the past I have used Aeroplan miles and RBC Rewards points to purchase Esso gift cards, and there are lots of other options out there- check to see what you can redeem for with your rewards points (Esso seems to be the major gas retailer participating in these types of programs). Make sure you know what your rewards program gets you- certain credit cards give you double or triple points at gas stations. In addition to your credit card points, the gas station’s own loyalty rewards points (Esso Extra, Petro-Points, etc.) can also be redeemed for gift cards or for fuel savings rewards.
4. Keep an eye out for gas promotions. For example, Kellogg’s is currently running their “Cash for Gas” promo on selected products when you send in proof of purchase from either 2 cereal boxes or 4 snack products. We are big cereal eaters in our household, so this is a good deal for us as we would be buying these products anyways. For extra savings, try and match up with the deals you see on Simply Frugal (ex. Nutri-Grain bars for $1.88 at Walmart).
And of course, always practice safe driving techniques- don’t speed, keep your tires inflated to the correct pressure, gear up, and don’t carry unnecessary weight (roof racks, cargo, etc.). Not only do these promote safe driving, they also maximize your car’s fuel efficiency.
