Showing posts with label Money Wise. Show all posts
Showing posts with label Money Wise. Show all posts

Taxes and Happiness

Posted by My Heart Song

2/10/2015 



It's that time of year again - tax season! We have very simple taxes which I can prepare myself and file online. I was working on this a few days ago and wanted to share these few reflections. 

Our family had a rough year in 2014, financially. 
My husband was under-employed, working only a part-time job for 4 months last year. Then he was unemployed for another 6 weeks. Then he got a great job that he really enjoys and pays a good wage. Early in the year, I stepped down from my very part-time job at our church, as it was too much to handle with our new baby. So, as you can imagine, there was a large financial toll to all these job transitions, resulting in much less income in 2014 than in previous years.

HOWEVER... as I looked back over the year, my heart welled up in thankfulness. God completely provided for our needs. We never were late paying bills, even the large medical ones for our baby girl's birth/delivery. We didn't lose our house - didn't even come close to that! God took care of us. I praise Him for His faithfulness to us! 

Secondly, I was reminded that money doesn't buy happiness. While our year from a financial perspective was dismal, our family enjoyed a wonderful year. We all loved having a baby in our home again. What delight and joy and laughter a baby brings! While we may not have taken a family vacation in 2014 or made any big purchases, we were happy. We were together. We were loving life as we shared it together as a family. We enjoyed a simpler season of life together and it was beautiful. 

"There is a time for everything; a season for every activity under heaven." There is a time to spend and a time to save. Yet God is the Provider and Giver of Good Gifts no matter what season you find yourself in. This is the wonderful truth He has shown to me this week. Thank you, God!

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Old News: New to Us Van

Posted by My Heart Song

5/16/2013


I realized recently that I'd forgotten to mention on this blog that we made a rather large purchase about 6-8 weeks ago. We had saved up a good sum in our "savings / emergency fund" knowing that as some point we would need another or different vehicle. We'd lived with just one vehicle for over a year. And that one vehicle is 17 years old and quickly approaching 200,000 miles. My husband, however, is a self-taught master mechanic on that vehicle and takes wonderful care of it. 

For a few months, he'd been looking for a good deal on a second vehicle. He found this 2005 Kia Sedona mini-van at a great price so we bought it. 

It was just a few days later that we found out we were expecting, which added numerous doctor's appointments to our schedule. I think it was perfect timing that we had this second vehicle by that time. It makes my life less stressful, which exactly "what the doctors order" with a high-risk pregnancy. 

I'm thankful for working vehicles, for God's timing, for the wisdom of setting aside money for savings so that making a purchase like this doesn't have to be stressful or incur debt. 

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Financial Goals Achieved

Posted by My Heart Song

4/23/2013 


I mentioned in this blog post last fall that we set a realistic, but stretching financial goal for paying off a large chunk of school debt. 

Our goal: an extra $5,000 in 10 months put towards debt principle. 

I am overjoyed to report that the 10 months is over and we've surpassed our goal! Slow and steady, we were able to put any extra money we could find towards our goal - Christmas cash and work bonuses included. The bulk of it was the money I earn from our church as the part-time secretary. 

We made our goal even before received our tax refund and were able to put another $1,700 towards paying down debt. 

AND all of that is on top of the "minimum monthly payments" that we kept making but did not count towards this goal. 

It is empowering! It is a great feeling to know that we can do this. 

Our long term goal remains to have our student loan debt paid off by the time my husband turns 40 in 2015. That's 2 years to work our plan and make it happen. The last 10 months have inspired us to sacrifice, to work like crazy and get rid of this once and for all!

Here's what motivates us towards that end! Oh, what a happy day that will be!

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A Tale of Two Incomes

Posted by My Heart Song

10/1/2012


My husband has a full-time job that fits his skill set well and provides great benefits, though the pay is very modest. However, God has enabled us to not only survive but thrive on that income. We regularly thank Him for my husband's work. 

For years I worked as the secretary at our church as a part-time job to help supplement my husband's income. At that time, "my income" was added with "his income" and we thought things were tight. There wasn't much extra. 

Then in 2010 I stepped down from my position at church. We were beginning to do other things - some daycare, then foster-parenting, and simply homeschooling. For most of that time, we did not have any additional income and were forced to learn to live completely on one income. It was great for us - we had a bare bones budget, without much wiggle room but one that fit us just fine. 

 Earlier this year I returned to the secretary position at our church. It's interesting how we're doing things differently this time around. Even though our income is now back to the exact same level it was in 2009 (no, my husband's not had a raise in the meantime), we're treating "my income" as extra money. We have learned how to live on my husband's income alone. Therefore, what I am making is not simply being absorbed into the budget.

 This time around, we're setting specific goals for the extra money. Goal #1 has been achieved - we saved up a substantial emergency fund. Now we're on to goal #2 - pay off long-standing school debt. We set what is for us a big goal - $5,000 - and are aiming to pay at least that much off by April 2013. That will not pay off our debt completely, but it would take a good-sized bite out of the balance. It's a big goal, not an easily achievable one, though still realistic. We're making good progress each month as we are intentional about where the money goes. 

TWO EQUAL INCOMES, TWO DIFFERENT PERSPECTIVES

It's amazing to me how different our situation has looked from these two perspectives. I used to complain that we "needed a bigger shovel" (ie. more income) to dig ourselves out of our debt hole. Now, I see that God has provided what we need and extra. We may not have a huge income, but we can work with what we do have to start making headway. My income used to be absorbed into our budget, leaving us thinking that it was "necessary" and that we couldn't survive without that income. We were wrong. God used the journey we've been on for the last 2 years to teach us many things, one of which was financial. He will provide. He does provide. He already has provided. Sometimes we need our eyes opened to see His provision. Sometimes we need Him to give us creative ways to cut costs, wisdom to make good choices about money, courage to take those first steps towards financial freedom.

 Our long-term financial goal is to have our school loan paid off before my husband turns 40. That will be in 2015 - just 3 years away. Trust me, it's time for these loans to be out of our lives! They've been with us far too long. And although they are under half of what they started out as, we want them gone for good and are setting aside every dollar we can find to put towards this goal.

What are your financial goals? Have you put them on paper and outlined small steps you can take to achieve them? Do it! Even small steps in the right direction are progress!

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Works for Me Wednesday - Candy Wreath

Posted by My Heart Song

I am not a crafty person, but this was one craft I could handle - a wreath made out of a coat hanger and candy! It's really that easy. Tie candy onto a coat hanger that you've bent into a circle. When you're done, put a bow on it. That's it. You're done!

Tip #1: if you're thinking of making this next year, check out the sales on candy immediately following Halloween.

Tip #2: be as creative as you want to be with this; you could use one color wrapped candy (like white and red swirl wrapped peppermints and then a big red bow) for a very simple Christmasy look. I used candies that weren't Christmas colors, so it could remain up after the holidays.

Tip #3: watch this video tutorial to see the specifics of this craft, then tweak it to fit your style and the materials you have to work with.

I'm excited to give this away as a Christmas gift to a special someone!

Works for me!

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Tuesday: CVS Deals

Posted by My Heart Song

It's been a while since I've blogged about it, but I have snagged some great deals at CVS in recent weeks.

This picture shows my purchases from CVS's Black Friday Sale (which I only do because CVS starts their Black Friday sales on Thanksgiving Day, so I can get the good deals at 8:00 am Thursday without having to get up early and fight any crowds on Friday). All of the above items cost me a total of around $5.00 and I walked away with $14 in Extra Care Bucks (like a gift card to use at CVS in the future). It's almost like being paid to shop there and take these items from them! 4 candy bars, 2 razors, 2 shampoos, 2 hair gels, 1 body wash, 1 ipod earphones, 2 lotions, 3 toothpastes, 2 deodorants... yes, $5!

One thing I love about CVS is their Rain Check policy. If any regularly-carried item is sold out, you can get a rain check THAT NEVER EXPIRES! Recently I used a rain check from many months ago that I coupled with coupons to get 12 Glade candles for free!

This week CVS has just a couple of good deals. You can check them out here. I was able to pick up Christmas tissue paper, bows and gift tags for around $1.00 out-of-pocket.

If you are brand new to shopping at CVS and are wondering how to save major money shopping there, go here for a quick tutorial.

But whether you shop at CVS or not, be encouraged! There are deals out there and legitimate ways to save money on everyday items you already use! How motivated are you to find those deals?!

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Works for Me Wednesday - Budgeting

Posted by My Heart Song

It's the start of another month, which means a Budget Committee Meeting is needed at our house. My hubby and I find one evening at the start of the month to review the previous month's spending and look at the month ahead. This meeting doesn't have to be lengthy, but it's important for both husband and wife to be on the same page with how "our" money is divided up. The budget reflects our values. And if we disagree on how to spend it or what to buy, then we need to talk through those things until we come to an agreement.

I keep our budget on an Excel spreadsheet that I created. I plug in figures from our online bank account statements and receipts. I keep track of how we spend everything. We know where it all goes.

Dave Ramsey says that budgeting is telling your money what to do. This is so true. Otherwise, it just slips through your fingers. The budget tells it exactly where to go. Every dollar spent on paper before it's really spent.

If you find that you don't have enough money left at the end of the month, I strongly encourage to start budgeting, tracking down where the money goes. Then become intentional about how you're going to spend it from this point forward. If you need help, go to www.crown.org or www.daveramsey.com for loads of advice and tips.

Budgeting - works for us!

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Works for Me Wednesday - Homemade Laundry Soap

Posted by My Heart Song

I have been making homemade laundry soap for years - saving probably hundreds of dollars over that span of time. Homemade soap is all-natural, no fragrances or dies, works just as well as brand name soaps but costs a fraction of the cost. There are many recipes out there but this is the one I use. I can find all these ingredients at my local Kroger store.




Homemade Laundry Soap

1/3 bar Fels Naptha soap
1/2 cup Washing Soda
1/2 cup Borax

Grate the Fels Naptha soap. Add it and soda and borax into large saucepan (use pan and spoon exclusively for soap making, not cooking). Stir over medium heat until it thickens, similar to honey. Remove mixture from heat. Divide and pour into 3 empty laundry soap containers. Fill containers almost full with HOT water. Shake before using. Use 1/2 cup to 1 cup of soap per load, depending on size and how soiled.

Cost for the above: Fels Naptha Soap is less than $1.50 per bar, Washing Soda and Borax are around $2-3 each. This recipe uses such small amounts of each that the cost for one batch of laundry soap (which is 3 jugs, remember) is less than $1.

Works for me !

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Cost Cutting Tips and Tricks

Posted by My Heart Song

On Sunday I shared the following info with our church. We're in the middle of a series on Biblical Finances and Sunday's focus was "Living Within Our Means." So these were some of the best cost-cutting tips and tricks I could come up with in a reasonably short list. I am curious, though. What would you add? Or what has worked for you?







GROCERY:




  • Shop your store’s sales (look at the weekly ad and buy only when something is on sale, at its lowest price)

  • Clip coupons – if you get a Sunday paper, use the coupon inserts to save money

  • If you have a computer, there are many printable coupons to be found online – especially handy if you don’t get a Sunday paper

  • Also, if you have a computer, you can load e-coupons onto your store’s loyalty card (like your Kroger card) and they will deduct automatically when you buy that product (no need to clip coupons, remember to take them to the store, etc). Visit http://www.shortcuts.com/ and http://www.softcoin.com/ and http://www.cellfire.com/

  • Shop at bakery thrift stores for breads, rolls, buns to spend less than $1 per loaf/package

  • Buy generic products if they are a better deal than the name brand and you don’t notice any taste difference

  • Cut out extras like pop, gum

  • Check out websites like http://www.moneysavingmom.com/ and http://www.thethriftymama.com/ for store sales, coupon match-ups, and free samples



FOOD COSTS:





  • Take supper leftovers for lunch the following day

  • Whenever possible, make meals from scratch. Check out websites like http://www.5dollardinners.com/ for ideas on feeding your entire family for $5 per meal.

  • Grow your own herbs and vegetables, if you can

  • Jar, can and preserve what you can

  • Make homemade laundry soap and household cleaners



HOUSING COSTS:





  • Shop for home improvement products at the ReStore for discount prices

  • Buy a programmable thermostat and use it – to prevent heating/cooling your home when you’re not home or are asleep

  • During the winter, turn the heat down and dress in layers



CLOTHING:





  • Buy what you can at consignment and thrift stores

  • Swap kids clothes with friends who have kids in different sizes than your own



BOOKS:





  • Buy books used (but still in good condition) from Amazon.com’s Marketplace

  • Join PaperBack Swap where you can “buy” books for only the cost of shipping



INSURANCE:





  • Shop around every 1-2 years to make sure you’re getting the best rate on your insurance

  • Raise your deductible (if you have an emergency fund to pay the deductible in case of an emergency – this is what an emergency fund is for)



OTHER:





  • Become a part of the Freecycle network (http://www.freecycle.org/) to find anything from furniture to clothing to toys to books – all for free

  • Check on Craigslist.com for local people selling goods at reduced rates

  • Have a garage sale to sell whatever you can and be intentional about how you spend/save the proceeds

  • Ask for help! Many people are willing to help out a friend in need if only they know that their friend is in need! Speak up!

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CVS Deals

Posted by My Heart Song

Today's CVS Deal:


Today I picked up everything in this picture - 5 packages diapers, 1 large package of wipes and 1 Herbal Essence shampoo - for $20 out of pocket. I also earned back $10 in Extra Care Bucks (ECBs - like a CVS gift card that can be used on future purchases), so it was kind of like spending only $10 for all of this!




[If you know anything about the price of diapers, you know that this is a GREAT deal considering you can easily spend $10 per package of diapers!]


How did I do this deal? I used coupons for $2 off per package of Huggies and $1 off coupons for "any Huggies product" (ie. the wipes). I had a free coupon from Herbal Essense for the shampoo. CVS has a coupon out for "$5 off your next $30 purchase" that I also had to save another $5. And CVS's deal this week is that if you spend $20 on Huggies products, you earn back $5 in ECBs.

To see other store deals and coupon match-ups, visit Money Saving Mom at http://www.moneysavingmom.com/.

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