life

Tuesday’s Tip: Pay It Down

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So, you’ve got a little money coming back from the government? Good for you! I’m glad to hear it! The question now is what to do with it, right? Hmm . . .

Well, over the next few weeks, I’m going to be posting ideas about that very topic. But first, I need to ask: Did you do your ‘homework’ from last week? Did you make that list of priorities? Things you’d like to do in life? Goals you’d like to accomplish? It’s always a good first step when you’re talking about your money and what you want to do with it.

Today, let’s start with the first idea: Pay it down! Debt, that is.

Debt is simply any money that you owe. Debt can be anything from mortgages to loans of any kind to credit cards. If you’re getting a refund, and you don’t need it just to live right now, then consider using it to pay down any excess debt. I don’t know many people who are without a mortgage payment, and that’s a ‘long haul’ kind of thing, so it’s probably not the best option. But what about a second mortgage? How about a car loan that is close to maturing? Do you have any student loans you’d like to pay off? Have a few medical bills you’d like to get rid of? How about those credit cards? The reason I list these kinds of debts is because these are the most common. And, generally, short-term items take less time to pay off and it’s a lot easier to put a dent in them with extra funds that come your way.

A couple of things, though, if you’re thinking of throwing some money at a loan . . . 1) make sure there’s no penalty for paying it off early and 2) make sure you put the money toward the principal. Don’t just ‘make an extra payment’. You’ll be paying principal and interest. The best way to get rid of the loan and save some money on interest is by paying down the principal. Once you’ve done that, check your next statement and look for the extra principal payment and how it reduces what you owe as well as how it lowers the interest.

If you want to pay off credit card debt, you can do a couple of things. First, take a look at your balances. Is there one that can be paid off immediately with your refund? If so, you may choose to get rid of it completely so you don’t have to worry about that one anymore. If that’s not an option for you at the moment, there’s another way. You can use the money to reduce the balances, and then systematically pay them off one by one. There is a great method to doing this that I’ve detailed in The Money Roadmap: You choose the destination and the way! Check it out!

Before you make any decisions, do a little number crunching and see where your money would be of greatest use. You may not be able to completely eliminate a loan or balance, but reducing what you owe will only help you in the long run. The faster you pay off your debt the more you’ll have to live on or put toward new goals.

Tuesday’s Tip: Set Up Camp

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I don’t know about you, but Cabin Fever has crept into our house and settled in. It’s cold and dreary outside, with no snow to play in, and it’s making us nuts. Ugh! We were discussing that very thing at dinner and how much we wished for warmer weather when it dawned on me . . . and I said to my family, “You know, camping season is less than two months away.”

The kids gasped, exchanged wild glances (mouths gaping), and began to cheer. This is exciting stuff for us. Truly. Some may understand and agree, while others may crinkle their noses and think ‘ewww’. The images that are conjured up in the mind include mosquitoes, big bugs, campfire smell, getting dirty, and public bathrooms. But for us, it means summer. It means travel and freedom. It means campfires and s’mores. It means swimming, fishing, and being outside. It means grilling, picnics, and hayrack rides. It means hiking, exploring, and a host of other fantastic adventures. And we can’t wait for it to start . . .

So, how is this related to saving money? Easy. Camping is less expensive than typical vacations. In most cases, there is an initial investment to consider, however the long-term benefits are phenomenal, especially when you consider the cost of lodging. Depending on where you camp, fees can be as low as $10 per night. The more amenities there are, the higher the price, but we’ve never paid more than $30 per night – anywhere. Good luck finding a hotel room for those prices! If you’d like to give camping a try, here are a few tips to keep expenses to a minimum.

First of all, keep in mind that you’ll be taking your stuff with you and hauling it back home afterward, so you’ll need to pack lightly. Take only what you absolutely need. Pack minimal personal items, like clothing and a few toiletries. Pack a couple of travel-sized games or cards and a book. These are all things you probably have at home, so no need to buy anything. If you’re going for just a night or two, bring your food with you, but make sure you plan easy meals. Nothing elaborate. You’re camping, not ‘dining’.

Second, if you don’t have any gear whatsoever, you have a couple of options. You can purchase the basics, like a few pots and pans, at discount stores or simply bring what you need from your own kitchen, especially if you’re testing the camping waters. Also, use paper plates and plastic utensils and cups to make clean-up quick and easy. Plus, they’re cheap, lightweight, and easy to store. And chances are that you already have a sleeping bag hidden in a closet somewhere, so you’re halfway there.

Third, if you are new to camping and don’t have a tent, borrow one if you can. Most of us know someone who camps, so it’s not that difficult to track one down. If, however, you absolutely can’t stand (or can’t physically handle) sleeping on or near the ground, you can go the camper route. Many campgrounds and dealerships rent various types of campers from pop-ups to 5th wheels to luxury busses. If you know someone with a camper, try offering to rent theirs, or ask if you can go camping with them to see if it suits you. (Camping is always fun with more than one family!)

Finally, make sure you research different campgrounds. Compare campsites, prices, and amenities. There’s a difference in price for primitive vs. water & electric vs. full hook-up. Also, some campgrounds have all kinds of things like pools, tennis and basketball courts, mini-golf, horseshoe pits, hayrack rides, outdoor movies and games for the whole family – but beware! Some places include many of these items in the price, and others charge extra for just about everything.

Really, though, the trick to camping of any kind is to keep it simple. Take what you need. If it doesn’t fit in the backpack, leave it behind. You’re not going to need your phone, fax, and copier. Or your surround sound system. Disconnect! It’s easy to get caught up in the complexities of life and we think we can’t live without all of our gadgets, toys, and gizmos, but the reality is that camping is an inexpensive way to bring us together and enjoy all the simple things in life that we’ve forgotten. The warmth of a blazing campfire, the sweetness of a gooey marshmallow, the glow of the morning sun on a still lake, the giggles of kids playing tag, or the songs we sing on a sunset hayrack ride . . .

Campin’ season’s a comin’!

Tuesday’s Tip: Cook

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As you may have noticed, there’s a slight trend with my last couple of posts. They all have to do with food! So, I figured I’d continue the food theme and give you one more money-saving tip: COOK! I know it’s tough to work all day and then have to come home and cook, but it can be done and here are a few reasons why you should consider home cooking more often . . .

First, and foremost, it’s much less expensive than take-out or going to a restaurant for dinner. For example, at a popular restaurant (that shall not be named) I priced a fairly simple dinner. Chicken Caesar Salad for an entrée ($9.90), a non-alcoholic beverage ($2.30), and treated myself to a chocolate shake for dessert ($4). (I know the shake completely contradicts the salad, but go with me on this one. It’s hypothetical.) That’s $16.20. With tax and tip, this meal costs around $20. Just for one person! I just happened to make Chicken Caesar-ish Salad for dinner tonight, at home – with my family. I used Romaine lettuce, grape tomatoes, big croutons, baby carrots, chicken breast strips (sautéed in olive oil, with basil, marjoram, and a squeeze of lime!), a few sprinkles of Parmesan, and drizzled Ranch dressing on it. For dessert, we had pudding parfait. Even with overestimating the cost of the ingredients, the total came to about $10 . . . for the entire family. Divide by 5. That’s $2 per person. So . . . $20 . . . or $2? Hmmm . . .

Second, cooking at home gives you much more control over what goes into the meal. If you’re aiming for healthier eating, the experts say you should eat lots of fruits and vegetables. Thankfully, those are fairly inexpensive to buy. (It’s the meat, pork, or poultry that jacks up the cost of any meal – especially when you’re dining out.) Not everything is in season all year, obviously, but you can change up your menu throughout the year by getting the items that are in season and on sale. You can also add or omit flavorings, spices, etc. based on your own tastes or needs instead of hoping the cook behind the counter doesn’t dump half a cup of salt on your fries. As chef, you have total control.

Finally, making meals that can be eaten as leftovers, or frozen, can help lower your food costs by spreading it out over more than one night. For example, I’ll make something like lasagna (from scratch!) and freeze half of it for another time. It makes for a quick, home-cooked fix when you’re short on time. Other great multiple night meals include homemade soups, spaghetti, pizza, Mexican, and even roasts or turkey. I knew a gal who used to cook meals for a whole week on the weekend, then freeze them. She didn’t have to worry about cooking during the week – she just grabbed something and heated it up. A real time-saver!

I know it’s much easier to hop in the car and have someone else cook for you, but if you think about the time it takes to get there, be seated, order, wait, then eat, pay, and drive back home, you could’ve cooked, eaten, cleaned up, and be on to the next activity – even if that’s lounging in your favorite chair. Who knows, by cooking at home you may discover your inner chef . . . or have fun with your family. And if you have kids, it teaches them some valuable lessons they can take with them when they’re on their own.

Tuesday’s Tip: Master Your Menu

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Last week I wrote about including all your family members in the menu-making process. It not only helps you plan for the week, but also aids in eliminating the moaning and groaning that may drive you completely insane. This week, I’d like to expand on that topic a bit and show you how planning a menu in advance can save you money in a couple of different ways . . .

First, creating a menu for the week will give you the building blocks for an efficient shopping list. When you come up with a menu, you can then make a shopping list that includes everything you need to make the meals. To begin, you’ll need to see what you already have in your cupboard, fridge, or freezer. For example, I keep things like pasta, tomato paste, canned tomatoes, rice, beans, cooking soups (you know, cream of chicken, etc.), bread crumbs, oils, broth, frozen and/or fresh veggies, spices, and the like on hand all the time. I buy these kinds of staples when they’re on sale, or when I have coupons, and they’re there whenever I need them. But these items are also common in lots of recipes, so it’s easy to base your menus on them as well. I even buy things like beef, pork, or chicken when they’re on sale, then freeze them for later use. Next, you’ll write down whatever you need to buy at the store. By doing this, you’ll cut down on extra trips to the store because you forgot something while you were there the first time. This saves more money than you think, because you may go to the store “for just a couple things”, but you almost always leave with more than what you went for in the first place. (You know it’s true . . .)

Second, having a complete shopping list cuts down on extra spending by cutting down on impulse buying. Grocery stores play the soothing music and count on you to take your time perusing the shelves, meandering up and down every aisle, and picking up more than you really need. The key is to have a list that is complete so that you can get what you need and get out without spending an arm and a leg. I’m not saying that you’ll never make that extra trip, but you’ll make them a lot less often. By only buying what you need, plus reducing the number of times you make extra trips to the store, you save a lot of money. Make sure you know which aisles to navigate, then skip the ones you don’t need to visit, and voila! – you’ll smile when you see the total savings on your receipt!

So there you have it. One of my little secrets to saving money on groceries. I recently told my sister about it, and she laughed, telling me that I was “so completely organized it’s unbelievable”. Well, I can’t afford NOT to be organized and shopper savvy. LOL 😉

Oh! And if you want to save even more money . . . have a snack or a meal before you go to the grocery store so that you’re not hungry when you’re looking at all that luscious food! Confession: I once looked at register receipts from two trips to the store – one when I was hungry and one when I wasn’t – and was completely flabbergasted to find that I’d spent almost $60 more than I needed to just because I was hungry! Oh, ugh!

Tuesday’s Tip: Love is Free

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I’m normally not one to openly broadcast the events in my life, but I feel compelled to bend that rule a bit today. I hope you’ll understand . . .

On Sunday October 28, my mom was rushed into emergency surgery to repair a ruptured abdominal aortic aneurism. She surprised everyone by surviving the ordeal and a second surgery the next day to remove a blood clot in her leg. She fought valiantly for a week and a half, but infection and other complications finally proved to be too much for her and she passed away on Wednesday November 7. And just a few days later I had to say goodbye to the most incredible woman I’ve ever known.

When I think of her, I think of all the things that made her who she was. She was patient (tolerant!), kind, and generous beyond belief. She had a wicked sense of humor, an infectious smile that bordered on impish, and a passion for life. She was down-to-earth and had an amazing ability to make everyone around her feel special. She was a dedicated wife to my dad (they were joined at the hip for all of their 54 years together) and she was, of course, a very loving mom to my sister, brother, and me as well as a wonderful grandmother to all eight who called her “Nana”.

I know she loved us not because she told us all the time; I know it because she showed us.

Her love was in all the meals she made from scratch, from spaghetti sauce and cranberries to cinnamon rolls and Julekage. It was in the handmade Halloween costumes, cross stitched gifts for just about every occasion from housewarming to anniversaries, and the knitted caps for babies in impoverished countries around the world. She showed how much she cared by volunteering in the kitchen on Bingo night, stuffing stockings for soldiers overseas, and taking care of the finances for a community organization. She golfed for charity, could answer just about any computer software question you threw at her, coached youth bowling, and brought the best kinds of sweets to the monthly dinner meetings that made the guys get dessert first (just to make sure they got some!). She chaperoned school functions and class parties, and waited up nights until she was sure we got home safely, which also meant punishing us for breaking the rules. She loved us enough to set us free (even though it broke her heart), then welcomed us home without judgment when it didn’t work out. She gently, but firmly, raised us to be considerate, compassionate human beings. She knew when to give us advice, when to hold back, and when to just hold us and let us cry. She hugged her grandkids every chance she got. She quickly recognized people for a job well done. She kept us grounded and humble while, at the same time, lifting us up, supporting us in all our endeavors.

Her love was in everything she did and said. And for that I am truly grateful.

I’ve long since believed (thanks to Mom) that we should let the people we love know that we love them – all the time. Love isn’t something to be saved only for special occasions like birthdays, holidays, or anniversaries. It’s something to be shared on a daily basis, or at least as often as you can, in whatever way that you can. And I don’t mean with gifts and material things – I mean with simple words and actions.

Whose heart doesn’t flutter when her boyfriend tells her how great she looks in those jeans? What guy doesn’t feel special when his wife surprises him with his favorite meal for no reason in particular? How about when a child’s parents tell him how totally proud they are of him just for finishing the race? Or when a friend takes the time to listen to you vent, and does so without judging or advising? Or maybe doing something kind for a complete stranger? Or bringing a meal to someone in need? Or showing up to lend support to a friend?

Our words and actions have a greater impact on others than we realize. There are countless ways we can show our love, concern, and compassion for others. A few take some effort. Most take little effort at all. And yet those “little” things are what people remember the most . . .